Zero Marginal Spread
No gap between buy and sell marginal prices at the same pool state. Execution prices can still vary with trade size.
Temura
Temura is an AMM with no trader fees and zero gap between buy and sell marginal prices, while still guaranteeing liquidity growth for LPs after every single swap.
Guaranteed Liquidity Growth Every Swap
Swaps are proven never to reduce in-range LP liquidity, and growth compounds inside the curve instead of sitting as uncollected fees.
Concentrated & Customizable Ranges
Pick the price range that fits your strategy, in a pool whose kernel and hooks match it.
Provide Liquidity Confidently.
Temura is engineered so that no swap ever reduces in-range LP liquidity, not just on average, but on every single swap.
Higher LP Profitability
With no spread to overcome, arbitrage happens on smaller price moves, and that extra trading grows your liquidity.
Built-in Compounding
LP growth is part of the curve itself, no manual reinvestment, no idle uncollected fees sitting on the side.
Flexible Liquidity Distributions
Concentrate liquidity in your chosen ranges. Each pool’s kernel, set by its owner, shapes how that liquidity is spread.
Designed for traders. Optimized for LPs.
No gap
Marginal spread
No fee
Trader fees
None
Swaps that reduce LP liquidity
Shape your liquidity.
Every Temura pool has a kernel: a curve that sets how liquidity is spread across each price interval. Drag a point to reshape it, or start from a preset.
Use a preset, then arrow keys to move a breakpoint. Press Insert to add a point, or Delete to remove the focused point.
BreakpointsNone
Half the curve reached atAround the middle
Steepest part of the intervalAcross the interval
Backed by Rigorous Research
The Temura yellow paper formalizes the protocol's curve, proves liquidity growth on every swap, and details the customizations that let LPs shape their own distributions. At its core is a strictly concave curve that keeps the pool's price in line with the market: arbitrageurs keep it honest, and every trade compounds LP liquidity.
Read the yellow paper for the full mathematical framework, security proofs, smart contract methods, and pre-built hooks.
Read the yellow paperFrequently Asked Questions
How can Temura charge zero fees and still be profitable for LPs?
Traditional AMMs pay LPs through a fee that creates a spread between buy and sell prices. Temura instead uses a curve whose math guarantees that swaps never reduce in-range LP liquidity, and profit is earned through inherent compounding, not a fee skimmed off each trade.
What does "zero marginal spread" mean for traders?
At the same pool state, there is no gap between the buy and sell marginal prices. This does not mean every buy and sell executes at the same price: a trade can move the pool price, so its average execution price depends on its size and the available liquidity.
Can I still concentrate liquidity in a chosen price range?
Yes. Choose your pool and price range. The pool’s kernel determines how your liquidity is distributed.
Where can I learn the protocol in depth?
Atlas, the protocol documentation, covers the curve, the kernel, hooks and every contract method. The yellow paper has the full proofs.