Liquidity Pools Explained
What a liquidity pool holds, how LP share accounting works with a hypothetical deposit, where LP returns come from, and the pool-level risks to check first.
DeFi Fundamentals
Impermanent Loss: How It Works, With a Worked Example
Impermanent loss derived from xy=k: the formula IL = 2sqrt(r)/(1+r) - 1, a table for price moves from 0.1x to 5x, a worked LP example and the fee break-even.