DEXs are supposed to function as the heart of the asset flow within the ecosystem. But most general DEXs on the Klaytn ecosystem are based on the traditional CPMM model, . While this method has the theoretical merit of being able to respond to swaps happening in all price ranges (zero to infinity), in reality, most of the liquidity provided by the LPs is not actually used for the swaps. Such a low liquidity utilization rate has its downsides - limiting the swap fee income of LPs and tightening the asset flow within the ecosystem. What’s worse, this drives down the LP yields due to small swap volumes and eventually causes the LPs to leave the platform in an already downward-facing market situation. ...