# Features

## Splash v1

### Liquidity Pools

**Pool Types**

* **Constant product AMM pools:** The most simple 50/50 Uniswap-v2-like k=x\*y liquidity pools.
* **Weighted pools (aka Balancer Pools):** Pools with uneven weights for assets (e.g. 20/80). Requires far fewer base assets to create deeper liquidity for a token. Also, reduces impermanent loss for liquidity providers.
* **Stable Pools:** Pools with a different liquidity curve which is better for pegged (stable) assets. Significantly reduces slippage for traders.
* **\[in progress] Dynamic AMM Pools:** These pools automatically adjust the liquidity curve to concentrate liquidity around the spot price. Reduces slippage for traders and impermanent loss for liquidity providers.

**Pools Features**

* **Custom LP Fee:** Pool creators have the flexibility to establish a customized liquidity provider (LP) fee while creating the pool.
* **Bi-directional LP Fee:** Pool creators can optionally assign distinct fees for buy and sell orders within the pool, providing a tailored fee structure.
* **Dynamic Fees:** The LP fee within pools dynamically adjusts based on demand, leading to liquidity providers (LPs) earning higher fees in response to market conditions.

### Execution Engine

* **Temporal Liquidity Book:** The engine can match orders with each other (as on an order book exchange) and with liquidity pools simultaneously. This composability allows traders to get the best possible price and creates borderless opportunities for liquidity providers and market makers.
* **Fully open and transparent:** Anyone can run the engine and execute DEX orders.
* **Identifiable operators:** To execute orders, every operator must provide an on-chain identity. It allows others to track operators' actions and prevents malicious behavior.
* **MEV protection:** Given the identifiability of all executors, extracting value from users poses a significant challenge. If an operator receives a poor rating, it hampers their ability to secure orders, ultimately resulting in a lack of earnings from fees.
* **Fee market:** The openness and transparency of the systems create a fee market for execution engine operators. The cheaper and faster they process orders the more orders they can expect for execution and hence earn more fees.
* **Execution strategies:** Our off-chain system monitors Splash operators and selects them based on user preferences for order execution. Users can choose faster execution strategies, but these may involve risks from lower-rated operators. The choice of execution method and operator always rests with the user.

### Orders

{% hint style="info" %}
All orders on Splash are placed into the Temporal Liquidity Book (TLB). The TLB enables your orders to be filled from both liquidity pools and the order book simultaneously, ensuring the best possible price with minimal slippage. Like any order book, orders placed in the TLB can be **partially filled**.
{% endhint %}

{% hint style="info" %}
Splash V1 only supports simple orders. Advanced DCA, Grid, Auction, and other types of orders will be available in V2.
{% endhint %}

* **Market Order:** immediately buy or sell an asset at the best available spot market price.
* **Limit Order:** buy or sell an asset at a specific price. Supports partial filling.


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