Concentrated for N assets~150× capital efficiency at a 0.99 depeg limit, ~15× at 0.90. Concentrated liquidity beyond pairs.
Per-position tickEach LP picks their own k. Tight ticks max yield near peg; wide ticks act as backstop. Both coexist in one pool.
Survives a depegA failing asset pins out of bounded ticks automatically. The survivors keep trading at fair prices. No vote, no halt, no drain.
Virtual reservesLPs deposit only the increment above the guaranteed minimum reserve. The AMM constraint keeps the rest virtual - more effective capital, less locked.
Standard LP surfacePositions mint as ERC-721 NFTs with the V3-style API: mint, increase, decrease, collect, burn.
$O(1)$ on every swapHot state in five aggregates, one slot. Newton solver, 2-3 iterations typical, 15 worst case. No loop over ticks or assets.