Glossary

The DLMM bin that contains the current price. Only it trades and earns fees.

Annual percentage rate. A return over a window, scaled to a year without compounding.

The price gap between neighbouring DLMM bins, in basis points.

Concentrated liquidity market maker. A pool where LPs choose a price range.

Dynamic liquidity market maker. Meteora’s bin-based pool design with dynamic fees.

The share of each swap paid to LPs, such as 0.05% or 0.30%. It also sets the tick spacing.

The value difference between an LP position and simply holding the same tokens.

A dedicated wallet linked to your connected wallet that deploys and manages your liquidity.

Anyone who deposits tokens into a pool in return for a share of its fees.

A concentrated position whose range no longer contains the price. It earns no fees.

The lower and upper price between which a concentrated position is active.

Closing a position and reopening it around the current price.

How liquidity is spread across DLMM bins: Spot, Curve or Bid-Ask.

The smallest price step in a concentrated pool. Ranges start and end on ticks.

Total value locked. All liquidity in a pool or protocol, in USD.

A token model where locked tokens vote to direct emissions to pools. Used by Aerodrome and Ramses.