> For the complete documentation index, see [llms.txt](https://docs.hunt.town/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hunt.town/lptoken/overview.md).

# Overview

**One market. Two ways to take part: the token and its liquidity.**

The token has an LP. Now the LP has a token. On lpTOKEN.fun you can trade the coin, or hold its fee-earning liquidity as a transferable token of its own. lpTOKEN.fun won **Best Uniswap Stack Contribution** at **ETHOnline 2026**.

## The idea

In a normal AMM market there are two very different positions, and only one of them is easy to hold. You can buy the token: simple, liquid, one balance in your wallet. Or you can provide liquidity, which earns swap fees but means managing an NFT position, a price range, and a rebalancing problem.

lpTOKEN.fun makes the second position as easy to hold as the first. A **Uniswap v4 liquidity position is wrapped in an ERC-20**, so the LP side of a market becomes a token you can mint, hold, transfer, and redeem like any other.

<figure><img src="https://2486355854-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4NxrAAvYUdbFb8acggEf%2Fuploads%2Fgit-blob-10bf2e3fe7e37a25b4428d257f9a3a7d67750613%2Flptoken-swap.jpg?alt=media" alt="How a swap feeds the pool and its lpTOKEN"><figcaption><p>How a swap feeds the pool and its lpTOKEN</p></figcaption></figure>

## What that gives you

* **Two exposures to one market.** The token tracks price. The **lpTOKEN** share tracks the liquidity: it holds both sides of the pair and accrues swap fees.
* **Fees stay in the vault.** Swap fees earned by the position are not skimmed. They remain in the vault and back every share.
* **A market from day one.** Builders can launch a token and its LP together, with the initial liquidity permanently locked, instead of bootstrapping a pool afterwards.

## Two ways a market gets here

| Path                 | What it is                                                                                                                                                                                                               |
| -------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| **Dual launch**      | Launch a new token and its LP vault together on the platform. Initial shares are permanently burned, and a one-sided launch position creates a floor that grows with volume. See [Dual Launch](/lptoken/dual-launch.md). |
| **Curated LP vault** | Open a vault on an existing Uniswap v4 pool, so liquidity added through it is held as an lpTOKEN. No launch position, no floor: pure mint / redeem / compound.                                                           |

## Where it runs

lpTOKEN.fun is **live** at [lptoken.fun](https://lptoken.fun) on **Robinhood Chain**, **Base**, **Arc**, and **Ethereum**. New tokens launch against each chain's native currency: ETH on Robinhood Chain, Base, and Ethereum, and USDC on Arc. Contract addresses are listed in [Contracts & Addresses](/reference/contracts.md).