Add and remove liquidity

Every pool shows one of two labels on the Pools page, the pool page and the token’s Liquidity tab: every token launches on contract set v1, so its pool takes deposits once it is set up.

• Deposits open: anyone can deposit KAS and tokens for LP shares and withdraw their own deposit.
• Swap only: the pool is not set up for deposits yet.

In both cases the liquidity created at graduation has no withdrawal path. A new pool takes swaps from the graduation on and opens for deposits after its one-time setup transaction, which normally follows within seconds (see Graduation).

Adding liquidity

1. Open the pool from Pools or the token’s Liquidity tab and choose Add liquidity.
2. Enter a number of shares or a KAS amount (the app works out the shares it buys), or drag Share of your balance. The line under it shows the most you can deposit now and what limits it: your KAS, your tokens or the pool.
3. Review both legs: the KAS and the tokens the deposit takes, at the pool’s current ratio, plus the 5 KAS the new LP-share cell carries (returned when you withdraw) and the network fee.
4. Approve in your wallet (one or two signatures: a split first when no token cell holds exactly the token leg).

A deposit has a minimum (a KAS leg of at least 1 KAS and at least 20 shares’ worth, and enough that the position stays withdrawable whatever the price does later) and a maximum (the shares the pool can still issue). Deposit legs round up, against the depositor, so an immediate withdrawal never returns more than was put in.

A deposit needs the token’s launch proof bound in your browser, as a buy does, so the app can verify that the pool is the token’s own. Until it is, deposits stay paused; withdrawing remains possible.

Removing liquidity

Choose Remove, enter the shares to withdraw (or All) and review the exact KAS and tokens you get back (rounded down), with Max slippage on both legs (1% unless you change it). A withdrawal must pay at least 0.1 KAS; if your shares are worth less, the panel says how many more to add. Remove is never hidden: even if deposits are switched off or a pool is flagged, withdrawals stay available. If the token’s launch proof is not bound in your browser, the withdrawal is the separately confirmed Exit anyway (see the launch proof).

When the pool moves first

A deposit or a withdrawal spends one exact pool state. If another transaction lands first, nothing is charged and the legs are rebuilt at the new state; you are asked again when the pool’s KAS-to-token ratio moved 1% or more since your quote, or when a withdrawal leg would fall below your minimum.

In busy moments a deposit or a withdrawal can be built on swaps that are still pending, but only while they leave the pool’s ratio within 1% of the confirmed one; otherwise it waits for them to confirm, so your legs are never valued at a price that may not hold. The pool setup itself is never built on pending transactions.

LP shares

LP shares are ordinary KCC-20 tokens of the pool’s own share lineage, with a supply fixed at the pool setup (the bind): 999,000,000 issuable shares. The 1,000,000 graduation shares exist only as a counter in the pool and can never be withdrawn. Deposits hand out shares from the pool’s inventory and withdrawals return them; none are minted later.

What LPs earn

LP shares earn a share of pool fees: the 0.20% of each swap’s KAS side that stays in the reserves belongs to every share pro rata, the locked graduation shares included. It is paid out when you withdraw. The creator’s and Kasseal’s 0.05% each are not part of it.

Kasseal shows past figures only: fees retained by the pool over the last 7 and 30 days, share value from fees since the bind, and for your own position its value now, the fees it earned, what you put in and how it compares with simply holding. There is no APR, no projected return and no forecast. A position whose shares arrived by a transfer shows no earnings, because what was paid for them is not known.

Risks

• Divergence (impermanent) loss. A KAS-and-token position changes value with the pair’s price. If the token doubles against KAS, withdrawing returns about 141 KAS and 141 KAS worth of tokens for a 100 + 100 deposit: 283 KAS of value against 300 had you held both. The fees your shares retain offset this only when they are larger than the gap.
• The token can lose all value, and your token leg with it.
• Contract risk. The pool contracts are new, and smart contracts can have bugs. A flaw could cost some or all of a deposit.