I have a theoretical question about how they operate... can someone trade $100 worth of token back and forth all day long? If they did while no one else traded against the pair would they end up with the same amount of tokens they started with at the end of the day?
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there's no fee, so users can wash trade, but there's little incentive to do so.
You would not likely end up with the same amount of tokens by the end of the day as others would be participating as well and change the price along the way.