automated market maker (AMM)</strong></strong></a>. In essence, an AMM is a system where its users can partake in <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token-swap/">token swaps</strong></a> which are facilitated by automated <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a>. These token swaps are completed with the help of <strong>liquidity providers</strong>.</p>\n<p>This is where Virtual Automated Market Makers (vAMMs) come in. vAMMs were built on the concept of AMMs. It&rsquo;s a new type of automated market maker that introduces new functionalities such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-derivative/">derivatives and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-perpetual-contracts/">perpetual contracts</strong></a>.</p>\n<p>Generally, there are two types of users who engage in vAMMs. They are liquidity providers and traders. Here, <strong>liquidity providers issue tokens then traders swap said tokens</strong>.</p>\n<p>It&rsquo;s important to note that real tokens are not swapped within vAMM systems. Only <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-synthetic-asset/">synthetic assets</strong></a> are allowed to be exchanged. 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In addition to co-founding the second-largest <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency by market size, Vitalik Buterin is the co-founder of Bitcoin Magazine.</p>\n<p>He is currently <strong>the leader of Ethereum's research team</strong> and a philanthropist, contributing millions of ether to numerous organizations, organizations, and foundations. In addition, in 2020, he invested $1.4 in ether to start producing the new Ethereum 2.0 network.</p>\n<p>Going back in time, Buterin was born in 1994, in Russia, however, after some time he emigrated to Canada. His own father was a computer scientist, so he learned about <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin when he was 17 years old.</p>\n<p>Vitalik began his career as <strong>a writer for Bitcoin Weekly in 2011</strong> and received five Bitcoin for one piece. However, the website was taken down. When that happened, Mihai Alise contacted Buterin with the intention of starting a new paper, which eventually resulted in the creation of the Bitcoin Magazine.</p>\n<p>Buterin was still a student at the University of Waterloo, where he was also employed as <strong>an assistant to cryptographer Ian Goldberg</strong> at the time. Furthermore, as his engagement in the crypto world grew online and at conventions, Buterin was encouraged to meet others who wish to establish a Bitcoin alternative that extends its possibilities with a more comprehensive scripting language.</p>\n<p>Following that, in his <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-whitepaper/">whitepaper that was released at the end of 2013, Buterin presented this option as a decentralized mining network and software development platform that permits the emergence of new coins and apps creating a common blockchain dubbed Ethereum.</p>\n<p>The next year, <strong>he was given a $1000,00 award from the Thiel Fellowship</strong> for innovators under 20 to continue engaging with their inventions. Thus, Buterin left university and <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;\">shifted his focus entirely to Ethereum. He made it his full-time job along with a team of Anthony Di Iorio, Joe Lubin, Gavin Wood, and Charles Hoskinson.</span></p>\n<p>The team revealed the project in 2014 and the version that was publicly accessible came out in 2015. So, Vitalik Buterin and his team created Ethereum to be the world&rsquo;s second-largest cryptocurrency by market capitalization.</p>\n<p>The primary goal of Ethereum was to <strong>broaden the use cases of blockchain technology</strong> past transactions and asset storage. Thus, Ethereum's development has been committed to improving <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a> and introducing new <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-decentralized-applications-dapps/">DApps that provide new financial goods and services.</p>\n<p>Moreover, in addition to all his inventions, Buterin has also taken part in the creation of a whole new tech industry, as well as giving $763,970 worth of ETH to the Machine Intelligence Research Institute and $2.4 million to the SENS Research Foundation. Additionally, Buterin took part as a developer for other open-source projects such as DarkWallet, Bitcoin Python libraries, and the cryptocurrency marketplace Agora.</p>","level":"medium","meta_title":"Who is Vitalik Buterin? 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Definition & Meaning | Crypto Wiki","meta_description":"Virgin Bitcoin meaning: Virgin Bitcoin - is a BTC that has never been spent.","meta_keywords":null,"language":"en","created_at":"2022-04-01T14:41:18.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-virgin-bitcoin"},"currentChapter":"V","currentSection":"what-are-virtual-automated-market-makers-vamms","chapterTitle":"V","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-are-virtual-automated-market-makers-vamms","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter V

What are Virtual Automated Market Makers (vAMMs)?

Virtual Automated Market Makers (vAMMs) MEANING:
Virtual Automated Market Makers (vAMMs) - are a new type of AMM that enables to trade tokenized derivatives directly through the blockchain due to its synthetic liquidity.
Easy
1 minute

Let's find out Virtual Automated Market Makers (vAMMs) meaning, definition in crypto, what are Virtual Automated Market Makers (vAMMs), and all other detailed facts.

Before diving into the term Virtual Automated Market Makers (vAMMs), you must understand what is an automated market maker (AMM). In essence, an AMM is a system where its users can partake in token swaps which are facilitated by automated smart contracts. These token swaps are completed with the help of liquidity providers.

This is where Virtual Automated Market Makers (vAMMs) come in. vAMMs were built on the concept of AMMs. It’s a new type of automated market maker that introduces new functionalities such as derivatives and perpetual contracts.

Generally, there are two types of users who engage in vAMMs. They are liquidity providers and traders. Here, liquidity providers issue tokens then traders swap said tokens.

It’s important to note that real tokens are not swapped within vAMM systems. Only synthetic assets are allowed to be exchanged. These synthetic assets are usually tokenized derivatives.

Additionally, vAMMs aren’t used for spot trading. Instead, they are employed for the process of price discovery and in handling leverage. vAMM uses the same system as AMM exchanges to calculate the price of both entry and exit. 

In order to calculate the prices, vAMMs initially used a specific formula, now they use a design that consists of concentrated liquidity and virtual tokens. This way the system is able to offer liquidity with leverage.
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