LP Token

In most decentralized exchanges (DEXs), liquidity providers receive LP tokens as evidence of their contribution. For example, in a Constant Product Market Maker (CPMM), they get a fungible token representing their share of the total liquidity. At the same time, in a Range AMM, they receive an NFT denoting the supplied price range and amount.

In ION, liquidity providers contributing to specific bins receive a token representing their share in that bin. These tokens are semi-fungible, as each pool comprises multiple bins, and each bin has individual shares. One LP Token Wallet records the shares for each bin a user supplies.