  Triangle fees are a novel fee structure for AMMs, in which marginal fees are
decreasing in a trade's size. That decline is proportional to the movement in
the AMM's implied price, i.e. for every basis point the trade moves the ratio
of assets, the marginal fee declines by a basis point. These fees create
incentives that protect against price staleness, while still allowing the AMM
to earn meaningful fee revenue. Triangle fees can strictly improve the Pareto
frontier of price accuracy versus losses generated by the status quo of
constant fee mechanisms.
