Trader Joe Liquidity Book · interactive mechanism simulation

Swaps walk a ladder of discrete price bins, one "active" bin at a time (constant-sum, zero slippage inside it). Every bin crossed feeds an on-chain volatility accumulator that decays over time; the accumulator sets a "surge" variable fee on top of the base fee, paid to LPs holding fungible per-bin receipts. Edit the parameters and watch the fee respond to volatility.
Traders swap X ⇄ Y LBPair — bin ladder active bin 8 · price 1.0000 fee: 0.050% base + 0.000% surge LP fee vault 0.000 Y Volatility accumulator acc: 0 · decays over time bins crossed this trade: 0 feeds back into surge fee →
Swaps simulated
0
Active bin fee (base + surge)
0.050%
Volatility accumulator
0
LP fees collected
0.000 Y
Parameters — edit me
10 bps
0.05%
2.0×
0.30/s
1.5/s
Controls

Illustrative simulation. Defaults mirror the researched Liquidity Book mechanism (discrete bins, constant-sum active bin, an on-chain volatility accumulator driving a variable "surge" fee on top of a base fee, fungible per-bin LP receipts), but trade sizes, timing, and bin crossings are randomized for visualization — not live onchain data. Drag the sliders or hit the spike button to see surge pricing respond, as it did during the March 2023 ARB token launch on Arbitrum. Part of The Onchain Experiment Atlas.