CATALYST UNIT OF LIQUIDITY

Summary from the TLDR Crypto newsletter

Catalyst Exchange's new whitepaper goes over an innovation called the 'Unit of Liquidity', which promises to further generalize Uniswap and Balancer AMM equations and improve cross-chain DeFi applications. Unlike existing protocols, Catalyst enables cross-chain swaps without exposing users to an intermediate token or requiring a bridge. The system executes swaps independently and uses price curves rather than a constant function. It can mimic the Balancer invariant, facilitate stable-coin swaps, enable cross-chain liquidity auctions, and more.