> For the complete documentation index, see [llms.txt](https://sweetdao.gitbook.io/whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://sweetdao.gitbook.io/whitepaper/white-paper/introduction.md).

# Introduction

In 2016 Canadian Vitalik Buterin proposed an idea for a decentralized exchange that would employ an onchain Automated Market Maker(AMM) with unique characteristics. One year later Hayden Adams began the development of an AMM using Vitalik's proposal. He called it Uniswap. Over the last year we have seen countless AMMs launch on different cryptocurrency protocols and have seen a boom in DEFI projects. From Ethereum's Uniswap to Binance's PancakeSwap or Polygon's QuickSwap. It's time that Cardano had its own great AMM.

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