Liquidity Book vs Uniswap V3

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

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

• Bins use constant sum invariant instead of constant product

• 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 market experiences high volatility.