Liquidity positions
Concentrated liquidity for stock token pairs: how ranges work, where the yield comes from, and how ZTOCKS reports what a position actually made.
Price ranges
A ZTOCKS position quotes both sides of a pair inside a price range you choose, for example $85 - $143 on NVDA / USDG. All of your capital works inside that band instead of being spread across every price from zero to infinity, which is what makes concentrated liquidity capital-efficient.
- Tight range: more fee income per dollar while price stays inside, more rebalancing when it leaves.
- Wide range: lower fee density but the position stays active through bigger moves.
- Out of range: the position holds a single asset and earns nothing until price returns.
How positions earn
Every swap that crosses your range pays the pool fee, and your share of that fee is proportional to your share of the active liquidity. Fees accrue inside the position and can be collected at any time. Nothing is locked: close the position whenever you want and receive the current mix of both assets plus accrued fees.
Impermanent loss
As price moves, the pool automatically sells the appreciating asset and buys the depreciating one. That rebalancing means a position can be worth less than simply holding the two assets, and the gap is impermanent loss. It is the real cost of providing liquidity and it grows with volatility and range tightness.
Honest PnL
For every position, ZTOCKS computes from on-chain events: fees earned, impermanent loss versus holding, and the net result. No blended APY headline, no cherry-picked window. You see what the position made, what it cost, and whether the trade was worth it.