# Tinyman AMM Basics ## Overview Tinyman is a decentralised exchange (DEX) on Algorand. More specifically it is an Automated Market Maker (AMM) exchange employing the Constant Product Market Maker algorithm. This is the same concept pioneered by Uniswap V2. The web based app (`app.tinyman.org`) is a visual interface for interacting with a set of smart contracts deployed to the Algorand blockchain. The exchange is fully **decentralized** and **non custodian**. Funds are held in permissionless smart contract accounts. This means the only methods to withdraw funds from the pool accounts are those encoded in the smart contract. At a high level this code only allows withdrawals in exchange for an appropriate amount of another asset or by the liquidity owners in exchange for their Pool Tokens. Furthermore the contracts are fully **permissionless**. This means that any account can create a pool by issuing the correct set of transactions. It means that no account has authority over the pool's assets or functionality. This also means there is *no mechanism to revert or adjust transactions even if they are made in error.* The contracts are also fully **immutable**. This means no account has the authority to update or delete the contracts that control the pools. This means that funds cannot be stolen by an update to the contracts. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.tinyman.org/tinyman-v1/tinyman-amm-basics.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.