School of Business and Management Department of Information Systems, Business Statistics and Operations Management 181 On Identifying Web3 Business Opportunities and Challenges Supervisor: LEE, Dongwon / ISOM Student: CHOW, Yik Hong / SBM Course: UROP1000, Summer Automated market maker (AMM) algorithms are a type of decentralized finance (DeFi) that allows transactions to occur without the need for a centralized authority, such as a bank to exchange. These transactions involve on-chain assets, such as ETH and USDC. To understand AMM algorithms, it's important to have an understanding of DeFi, including liquidity pools and smart contracts. Understanding Automated Market Makers (AMMs) is crucial in the context of decentralized finance (DeFi) because they play a vital role in facilitating decentralized exchanges (DEXs). AMMs are smart contract protocols that enable users to trade assets directly with each other on the blockchain without relying on intermediaries. They have gained significant popularity due to their ability to provide liquidity and improve accessibility in the DeFi space. Emphasizing the need to understand the pros and cons of different types of AMMs is important because it allows users to make informed decisions and choose the most suitable AMM for their trading needs. Each type of AMM has its own unique features, advantages, and disadvantages, which can impact factors such as liquidity provision, price accuracy, capital efficiency, and impermanent loss. On Identifying Web3 Business Opportunities and Challenges Supervisor: LEE, Dongwon / ISOM Student: FANG, Yuan / ACCT Course: UROP1100, Fall Web3 is an idea for a third generation of the Internet that incorporates decentralization based on blockchains. This report will focus on one of the infrastructure application projects of Web3: Blockchainbased Service Network (BSN), which is led by Chinese government and corporate. China has raised blockchain as a national strategy since 2019 and taken active actions on this field, through the thorough research on BSN, we aim to gain comprehensive understanding on this infrastructure and look deep down into China Web3 market by this chance. The research methodology is mainly secondary research. Information and data are selected from BSN website, government and organization white paper book, media report, etc. I try to obtain and verify material from different sources to eliminate bias and hope it can contribute to objectivity of this report. This report consists of 8 parts: What is BSN; Related entities of BSN; Operational model; BSN product; Main advantage; Development planning; Web3.0 in China; Limitation and risk.
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