SeiPerps
  • Introduction
  • V1
  • Concepts
    • Bin Liquidity
    • Bin Math
    • Concentrated Liquidity
    • Fees
    • Oracle
    • Swaps
  • Guides
    • Add/Remove Liquidity
    • Finding The Best Quote
    • Byte32 Decoding
    • Id-from-price
    • Finding Liquidity Depth
    • Price-from-id
    • Swap Tokens
    • Tracking Pool Balances
    • Tracking Volume
  • Tokenomics
  • An Introduction to Liquidity Shapes
  • LIQUIDITY BOOK: YOUR MASTER GUIDE
    • CONCENTRATED LIQUIDITY
    • SHAPES AND STRATEGIES
    • EARNING INCENTIVES
  • REBALANCING LIQUIDITY
    • ACTIVE BIN: EARNING FEES
    • I’M ‘OUT OF POSITION’
    • REBALANCING MY POSITION
  • Audits
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Introduction

Liquidity Book is a novel, highly-capital efficient Automated Market Maker (AMM) protocol. Its features include:

  • Zero Slippage: Traders can swap tokens with zero slippage within bins.

  • Surge Pricing: Liquidity Providers earn additional dynamic fees during high market volatility.

  • High Capital Efficiency: Liquidity Book can support high volume trading with low liquidity requirements.

  • Flexible Liquidity: Liquidity Providers can build flexible liquidity distributions according to their strategy.

Liquidity Book vs Uniswap V3

Both Liquidity Book and Uniswap V3 are concentrated liquidity AMMs with some subtle differences:

  • Price ranges are discretized into bins instead of ticks

  • Bins use constant sum invariant instead of constant product

  • Bin steps (or tick sizes) can be more than 1 basis point

  • Liquidity is aggregated vertically instead of horizontally

  • Liquidity positions are fungible

  • Liquidity positions are not restricted to uniform distribution across its price range; they can be distributed in any shape desired

  • Swap fees have fixed + variable pricing, which allows the AMM to charge more fees when the market experiences high volatility.

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Last updated 9 months ago