What is the math behind impermanent loss?

Have you ever wondered about the mathematical underpinnings of impermanent loss in decentralized finance? It's a complex concept that involves the relationship between the price movements of two assets in a liquidity pool. Essentially, impermanent loss occurs when the value of the liquidity pool deviates from the initial value due to price changes in the underlying assets. But how does this happen, and what are the mathematical formulas behind it? Let's dive into the math and explore the nuances of impermanent loss.