# Introduction ### Introduction Liquidity Book is a novel, highly-capital efficient Automated Market Maker (AMM) protocol. Its features include: * **Zero Slippage:** Traders can swap tokens with zero slippage within bins. * **Surge Pricing:** Liquidity Providers earn additional dynamic fees during high market volatility. * **High Capital Efficiency:** Liquidity Book can support high volume trading with low liquidity requirements. * **Flexible Liquidity:** Liquidity Providers can build flexible liquidity distributions according to their strategy. {% hint style="info" %} If you are looking for the developers documentation go here {% endhint %} ### 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 * Bins use constant sum invariant instead of constant product * Bin steps (or tick sizes) can be more than 1 basis point * 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 the market experiences high volatility. A LLM optimized version of this developer documentation can be accessed here --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://developers.lfj.gg/intro.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.