Concentrated liquidity

Ranges, ticks, fee tiers, in/out-of-range, and impermanent loss — the foundation Super9MM is built on.

Super9MM automates concentrated-liquidity positions. If you understand ranges and "in range vs out of range," everything else clicks into place.

Ranges and ticks

In a concentrated-liquidity DEX, you don't provide liquidity across all prices — you provide it across a price range you choose, e.g. "ETH between 2,900 and 3,100 USDC." Your capital is concentrated in that band, so it earns a larger share of the trading fees whenever price is inside it.

Ranges are defined in ticks — discrete price steps. Each fee tier has a tick spacing (the minimum gap between range boundaries). Super9MM handles tick math and alignment for you; you just pick how wide you want the range.

In range vs out of range

• In range — the current price sits inside your band. Your liquidity is active and earning fees. ✅
• Out of range — price has moved past one edge. Your position is now entirely one token and earns nothing until price comes back or you re-center. ❌

The whole game of active LPing is maximizing time in range. That's exactly what auto-rebalance does — it re-centers your band around the new price so you keep earning.

Fee tiers

Each pool has a fee tier — the percentage traders pay on every swap (e.g. 0.05%, 0.25%, 1%). Higher tiers earn more per trade but usually see less volume; lower tiers see more volume but earn less per trade. The right tier depends on the pair's volatility. The pools screener shows fees and Fee/TVL so you can compare real yield.

Impermanent loss (IL)

When the two tokens in your position change in relative price, you end up holding more of the one that fell and less of the one that rose, versus simply holding both. That gap is impermanent loss. Concentrated liquidity amplifies IL (narrower ranges = more IL sensitivity) but also amplifies fees.

The goal isn't to eliminate IL — it's to earn more in fees than you lose to IL. Super9MM helps by keeping you in range (earning), compounding fees, and letting you set protective exits. See Reducing IL.

What this means for you

• Narrow range → more fees while in range, but you go out of range sooner and carry more IL.
• Wide range → fewer fees per dollar, but more time in range and gentler IL.
• Automation lets you run narrower ranges than you safely could by hand, because the keeper re-centers for you.