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Invariant

The Invariant protocol is a peer-to-peer system for exchanging assets on the Solana blockchain. The protocol is implemented as a set of smart contracts that prioritize censorship resistance, security, self-custody, and the ability to operate without the use of trusted intermediaries who can selectively restrict access.

At first glance, Invariant may appear to be another exchange, complete with liquidity providers, swaps, and trade fees. The distinction is in the ability to provide liquidity only within certain price ranges. This has the effect of keeping liquidity where the price is, and thus where it is most needed.

Because liquidity is more efficient on Invariant, it stands to reason that trades will benefit from it. It results in a lower fee on trades by an order of magnitude. You can choose from 0.01 percent, 0.05 percent, 0.1 percent, 0.3 percent, and 1 percent fee levels. Furthermore, users benefit from increased virtual liquidity, which results in less slippage on trades.

Liquidity concentration enables much higher efficiency than traditional AMMs. In other words, producing the same amount of liquidity requires fewer tokens. Keeping liquidity close to the price can amplify this effect even more.

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