> ## Documentation Index
> Fetch the complete documentation index at: https://yieldxyz.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# LPing

> Liquidity provision strategies across Curve, PancakeSwap, and more

## Overview

Liquidity provision (LP) strategies allow users to provide liquidity to DEXes and earn trading fees plus potential incentive rewards. Yield.xyz integrates with LP opportunities across major decentralized exchanges.

<Warning>
  LPing carries **impermanent loss risk**. Asset ratios in your position may change as prices fluctuate, potentially resulting in lower value than holding the assets separately.
</Warning>

***

## Supported Protocols

<CardGroup cols={2}>
  <Card title="Curve" icon="chart-line" href="/documentation/coverage/supported-yields/defi/lping/curve">
    Stablecoin, LST, and pegged asset pools with optimized bonding curves
  </Card>

  <Card title="PancakeSwap" icon="cake-candles" href="/documentation/coverage/supported-yields/defi/lping/pancakeswap">
    Concentrated liquidity (V3) pools across BNB Chain, Ethereum, Base, Arbitrum
  </Card>
</CardGroup>

***

## How LPing Works

<Steps>
  <Step title="Provide liquidity">
    Deposit one or more assets into a liquidity pool
  </Step>

  <Step title="Receive LP tokens">
    Get tokens representing your share of the pool
  </Step>

  <Step title="Earn fees">
    Trading fees from swaps accrue to LP token holders
  </Step>

  <Step title="Claim rewards">
    Some pools offer additional incentive token rewards
  </Step>

  <Step title="Exit position">
    Redeem LP tokens to receive underlying assets plus earned fees
  </Step>
</Steps>

***

## Quick Reference

| Protocol    | Networks                                                 | Pool Types                     | Rewards            |
| ----------- | -------------------------------------------------------- | ------------------------------ | ------------------ |
| Curve       | ETH, Arbitrum, Optimism, Base, Polygon, Avalanche, Sonic | Stablecoin, LST/LRT, Tricrypto | Trading fees       |
| PancakeSwap | BNB Chain, Ethereum, Base, Arbitrum, Monad, Linea        | Concentrated liquidity (V3)    | Trading fees, CAKE |

***

## Key Considerations

<AccordionGroup>
  <Accordion title="Impermanent loss">
    LPs are exposed to relative price movements between assets. Concentrated liquidity (PancakeSwap V3) can **increase IL magnitude** for tight ranges during strong moves.
  </Accordion>

  <Accordion title="In-range vs out-of-range">
    Concentrated liquidity positions only earn fees when the pool price is inside your configured range. Out-of-range positions become one-sided.
  </Accordion>

  <Accordion title="APY variability">
    LP APY depends on trading volume. High-volume periods generate more fees; low-volume periods generate less. APY is not fixed.
  </Accordion>

  <Accordion title="Pool composition">
    Stablecoin pools have lower IL risk. Volatile pairs carry higher risk but potentially higher fee generation.
  </Accordion>
</AccordionGroup>

***

## Example Flow

<CodeGroup>
  ```bash Get LP yield metadata theme={null}
  curl --request GET \
    --url https://api.yield.xyz/v1/yields/ethereum-3crv-0xbebc44782c7db0a1a60cb6fe97d0b483032ff1c7-curve-lp \
    --header 'accept: application/json' \
    --header 'x-api-key: <API_KEY>'
  ```

  ```bash Enter LP position theme={null}
  curl --request POST \
    --url https://api.yield.xyz/v1/actions/enter \
    --header 'accept: application/json' \
    --header 'content-type: application/json' \
    --header 'x-api-key: <API_KEY>' \
    --data '{
      "yieldId": "ethereum-3crv-0xbebc44782c7db0a1a60cb6fe97d0b483032ff1c7-curve-lp",
      "address": "0xYOUR_ADDRESS",
      "arguments": { "amount": "1000000000" }
    }'
  ```
</CodeGroup>

***

## See Also

<CardGroup cols={2}>
  <Card title="Vaults" icon="vault" href="/documentation/coverage/supported-yields/defi/vaults">
    Automated vault strategies
  </Card>

  <Card title="DeFi Overview" icon="building-columns" href="/documentation/coverage/supported-yields/defi">
    All DeFi categories
  </Card>
</CardGroup>