Пул ликвидности
Liquidity Pool
A liquidity pool is a set of tokens locked in a smart contract, from which a decentralized exchange takes assets for swaps without an order book.
A liquidity pool is a shared reserve of two or more crypto assets held in a smart contract. A decentralized exchange (DEX) executes swaps from it: a trader exchanges one token for another not with another person, but with the pool itself. The price in such a pool is set by an automated market maker (AMM) formula, most often based on the ratio of token quantities in the reserve.
## How It Works
Users known as liquidity providers deposit a pair of tokens of equal value into the pool and receive LP tokens as proof of their share. Every trade in the pool pays a fee, which is distributed among providers in proportion to their share. Withdrawing funds returns the provider's share of the reserve, including accumulated fees and the changed token proportions.
## Risks and Common Mistakes
The main risk for a provider is impermanent loss: when the price of one token moves sharply, the value of their share may end up lower than if the tokens had simply been held in a wallet. Common mistakes include depositing into a pool with low depth and high volatility, overlooking the fees of the token or smart contract, and choosing pools with an unknown, unaudited contract where a rug pull is possible.
FAQ
How is a liquidity pool different from a regular exchange?
On a regular exchange, trades are matched through an order book of buyers and sellers. In a liquidity pool, the swap happens against an automated contract, and the price is calculated by a formula based on the ratio of tokens in the reserve.
Can you lose money by providing liquidity?
Yes. The main risks are impermanent loss from price fluctuations, smart contract vulnerabilities, and tokens issued without real value. Fees can partly or fully offset these losses, but they do not guarantee a profit.
What is an LP token?
An LP token is a receipt that confirms a provider's share in the pool. To withdraw funds, it is usually returned to the contract.