Automated Market Maker
A sort of decentralized trading platform which use smart contracts and algorithms to determine the price.
Automated Market Makers are difference from traditional exchanges as there is no central control, and no order book. Instead, anyone is free to provide - and remove - liquidity for any crypto pair at any time.
AMM's typically provide rewards via governance tokens for people providing the market liquidity.
SushiSwap, UniSwap, PancakeSwap, PolkaSwap, etc etc.
* All terms and definitions may update as the Cryptionary improves.