Invariant

$XYK

x · y = k

the constant product

Every automated market maker since 2018 has obeyed one equation. Liquidity arrives and leaves. Price moves. Traders come and go. k does not care.

An invariant is not a promise or a roadmap. It is the property of a system that holds regardless of what happens inside it. That is the whole idea, and there is nothing else to explain.

Chain: Robinhood Chain
Supply: 1,000,000,000
Distribution: Continuous clearing auction. No pool exists until it settles, so there is nothing to snipe at open.
Contract: 0xb4038fb6539da22b949D88fB79278C43aE8b237d