Most people learn AMM mechanics by losing money to them. The Liquidity Desk runs the contracts' own arithmetic — Uniswap v2 and v3, Curve StableSwap, staking — against live pool data, with simulated capital and no wallet connection.
| Model | What it implements | What it teaches |
|---|---|---|
| Uniswap v2 | Constant product x · y = k, fee taken on input | Why price impact grows super-linearly with size, and why a pool can never be drained |
| Uniswap v3 | Concentrated liquidity inside a chosen tick range | Capital efficiency while price is in range, and what happens the moment it leaves |
| Curve | StableSwap invariant | Why a stable pair absorbs size that would wreck a constant-product pool of the same TVL |
| Staking | Reward curve scaling with the inverse square root of total stake, and a rewardPerToken accrual identity | Why yield falls as participation rises, and what a lock-up actually costs |
The IL lab moves price and shows the position rebalancing against you in real time: the pool selling the winner, accumulating the loser, and the fee income racing to cover the gap. The reference numbers — 5.7% at a 2× move, 20% at 4×, 25.5% at 5× — stop being trivia once you have watched a position produce them. The standalone impermanent loss calculator runs the same formula on its own page.
A v3 position is not "v2 but better". Inside the range it offers the depth of a far larger classic position; outside it, it stops earning entirely and sits wholly in the losing asset. The desk shows both states, so the decision you practise is the one that actually matters: how wide to set the range, and how often you are willing to rebalance it.
A real position teaches you the same lesson at the speed of the market and the cost of gas. Here you can move price 3× in a second, withdraw, compare against holding, change the range and do it again. Nothing is deposited, no wallet is connected, no approval is signed, and there is no contract that can drain anything — because there is no contract at all on your side.
The Liquidity Desk is one surface of a keyless terminal that also carries live DEX pool scanning, an on-chain explorer, perpetuals with a real liquidation engine, and a local fork sandbox for your own contracts.
Yes. The Liquidity Desk simulates LP positions with paper capital on live pool data — no wallet connection, no approvals, no gas.
It implements the range-bounded form of the curve, including the state where price leaves your range and the position stops earning fees.
Yes — the comparison is against simply holding the two assets, which is the only measure that answers whether providing liquidity was worth it.
Open the desk — free, no account — no account, nothing to install