Concentrated liquidity, from zero to your first range

A pool is a vault with two tokens (for example SOL and USDC) where other people swap one for the other. Whoever swaps pays a pool fee (on Orca, from 0.01% to 1% of the swapped value). That fee goes to whoever put the tokens in the vault: the liquidity providers (LPs). Each provider receives the share of the fee proportional to their share of the liquidity that is active at the current price.

In concentrated liquidity you choose a minimum and a maximum price. Your liquidity only works (only earns fees) while the price stays between the two. When the price leaves the range, the position stops earning and becomes a single token: if the price rose above the maximum, you are left with the quote token (for example USDC); if it fell below the minimum, with the other one (for example SOL). InRange shows this on the card: price INSIDE the range, in green, or price OUTSIDE, in amber.

The narrower the range, the more concentrated the liquidity and the larger your share of the pool while the price is inside: more fees per dollar. In exchange, the price leaves the range more easily, and a position outside earns nothing. A wide range earns less per dollar but stays inside longer. There is no right range: there is the range that matches how much the pair moves and how often you accept adjusting.

Inside the range, the position is a mix of the two tokens that changes as the price moves. Near the minimum, the position holds more of the base token (for example SOL); near the maximum, more of the quote token (USDC). The card shows the composition in percent and in quantity.

When the price of one token changes relative to the other, the value of your position ends up below what it would be if you had held both tokens without providing liquidity. That difference is impermanent loss. It is "impermanent" because it disappears if the price comes back, and becomes a real loss when you close or adjust at a different price. In concentrated liquidity it is larger than in traditional pools, because the range amplifies the exposure. The fees received may or may not offset that loss: that is the math that decides whether providing liquidity was worth it.

Orca divides the price into steps called ticks. Each pool has a tick spacing, and the range's minimum and maximum snap to the nearest step. InRange tells you when it snapped what you typed. The accounts that store the ticks (tick arrays) require a deposit (rent) when they do not exist yet; the simulation shows whether your range needs to create any.

The card shows the fee earnings per day, per month and per year (APR), always with the extrapolation factor next to it: annualizing half an hour of life multiplies what was observed by thousands of times. A high APR on a new position is not a forecast, it is a rule of three. In the simulation of a new range, the yield is estimated from the share of active liquidity and the pool's fees over recent days, with stated assumptions: the volume repeats, the price stays inside, other providers' liquidity does not change. Everything is an estimate.

Every pool in the list has three numbers. TVL (total value locked) is the total value deposited in it, adding up every provider. 24 h volume is how much was swapped in the pool over the last 24 hours. The pool fee (for example 0.04% or 0.30%) is what each swap pays the providers. The fourth comes out of them: the day's fees are the volume times the pool fee, and the list's 24 h APR is those fees divided by the TVL, times 365. An example with round numbers (an example, not a forecast): a pool with $10 million TVL, $5 million volume and a 0.04% fee generated $2,000 in fees that day; $2,000 ÷ $10 million × 365 gives an APR of about 7.3%.

The number that says the most about a pool's yield is turnover: the day's volume divided by the TVL. With the same fee, a pool that turns over 50% of its TVL a day pays ten times more per deposited dollar than one that turns over 5%. That is why a giant pool can yield little (a lot of money splitting few fees) and a mid-sized one can yield well. The pool fee multiplies: 0.30% on the same volume pays 7.5 times what 0.04% pays, but high-fee pools tend to hold more volatile pairs, with larger impermanent loss.

The 24 h APR is a snapshot: a single day of volume, annualized by a rule of three. A busy day inflates it; compare with the 7- and 30-day fees, which InRange's simulation shows. And it is the average of the whole pool: a position concentrated in a narrow range can earn several times that number while the price is inside, and earns zero once it leaves. The APR does not subtract impermanent loss or the costs of adjusting either. It says how much the pool paid, not how much you will earn.

A four-digit APR in a small pool is usually one day of unusual volume that does not repeat. A token created a few days ago, with no history, can go to zero, and in a pool you end up holding the token that fell. Low TVL means your own swap moves the price. Very high volume relative to TVL in an unknown pool can be someone trading with themselves to inflate the number. When in doubt, favor pairs you understand, with history and liquidity.

1. Connect your wallet (Phantom, Solflare, Backpack or MetaMask with Solana).
2. On the Pools tab, search for the token and sort by TVL, volume or APR.
3. Pick the pool and say how much leaves your wallet: one token is enough, the zap swaps the missing part.
4. Choose the range with the handles (±1%, ±3%, ±10%) or by typing the minimum and maximum, checking on the histogram where the other providers are.
5. Simulate: the screen shows what goes in, the costs, the estimated yield and how many of the last 7 days' price samples fell inside the range.
6. Run it dry on the node and sign in your wallet.
7. Follow it on the Portfolio: green dot, the position is in range and earning; amber, it left the range and stopped earning.

Start with an amount you accept seeing swing and follow the position for a few days before adding more. Decide beforehand how often you will look: a narrow range asks for a daily look; someone who checks once a week needs a wide range. When the price leaves the range, you choose between putting it back (you pay the pool fee on the swap, the InRange fee and the network fee) or waiting for the price to return. Collecting earnings can be done at any time. Positions below $200 do not pay InRange's service fee, but they do pay the network and pool fees.

Choose pools of tokens you understand and are willing to hold. When the price leaves the range, you are left with one of the two tokens: if it falls a lot, you hold the one that fell. New tokens, memecoins and tokens without a track record can go to zero, and the fees received do not cover that.

What pays the provider is the fee on swaps. Compare the fees generated over recent days (24 h, 7 d, 30 d) with the pool's size (TVL, the total value deposited). A large pool with little volume yields little to each provider; a pool with high volume relative to its TVL yields more. On the Pools tab, the list shows each pool's TVL, 24 h volume and 24 h APR, and the simulation shows the fees of recent days.

Stable pairs (USDC/USDT) use a low fee (0.01%) and very narrow ranges, because the price barely moves. Volatile pairs (SOL/USDC, ZEC/USDC) use higher fees (0.16% to 1%), which compensate for the larger impermanent loss. Correlated pairs (SOL/mSOL, SOL/jitoSOL) move together and have less impermanent loss.

A pool with little liquidity has a large price impact on each swap: your own adjustment swap moves the price. InRange's simulation shows the swap's impact; above 0.5% it warns you.

The liquidity histogram, in edit range and in open position, shows how much liquidity from other providers exists in each price range around the current price. Where there is a lot of liquidity, your share of the fees is smaller; where there is little, the share is larger, but there is usually less volume there. It is information to decide with, not a recommendation.

Pip explains the criteria. It does not say which pool will yield more, does not predict prices and does not choose for you. The decision and the risk are yours.

Before the width, decide how often you will look and adjust. Someone who follows every day and accepts adjusting whenever the price leaves can use narrow ranges (for example ±3% around the price). Someone who looks once a week needs wider ranges (±10% or more) to avoid spending days outside without earning. A narrow range without follow-up is the most common way to lose the earnings.

In edit range and in open position there are ready handles: recenter (today's width, centered on the current price) and ±1%, ±3%, ±10% around the current price. You can also type the minimum and the maximum. The range snaps to the pool's tick spacing, and the screen shows what you requested and what was snapped.

When you simulate, the screen shows: what leaves (today's position, or the wallet in the zap), the swap needed to reach the new range's proportion, what goes in, the costs (pool fee on the swap, deposit for new accounts, the InRange fee), the estimated yield of the current range and of the new one by the same method, and the coverage: of N price samples from the last 7 days, how many were inside the current range and how many would be inside the new one. Nothing is signed when you simulate.

A range twice as narrow gives roughly twice the share of the pool while the price is inside, and stays inside for less time. The coverage over the last 7 days is the most honest ruler the screen has for this: a range that would have been inside in 4 of 14 samples is a range that spends a good part of its time outside.

Tall bars around the price mean a lot of liquidity from others, and therefore a smaller share for you in that range. Placing the range where there is less liquidity increases the share, but swap volume tends to concentrate where the liquidity is. Use the histogram so you do not enter blind, not to forecast.

Adjust when the price has left the range and you think it will stay where it is: outside the range the position earns nothing. Each adjustment costs the pool fee on the swap, the InRange fee (0.15% of the swapped value, capped at $5) and the network fee. Adjusting many times a day on a small position eats the earnings in costs; the screen shows the costs before you decide.

A narrow range on a volatile pair without following it; opening a range entirely above or below the price (the position is born from a single token, earning nothing; InRange warns and does not let you sign); comparing the card's observed APR with the simulation's estimated APR (different methods; compare estimate with estimate).

In a concentrated liquidity position you do not choose the proportion between the two tokens: it comes from where the current price sits inside the range. An example with round numbers (an example, not a forecast): with SOL at 100 USDC and a range from 99 to 108, the position starts with about 88% in SOL and 12% in USDC. To start with 99% in SOL and 1% in USDC with the same maximum, the minimum would have to sit at 99.92, less than 0.1% from the price: any small dip already takes the position out of range. A position with 100% of one token requires the whole range above or below the price, and it starts without earning fees. InRange does not open a position like that: the simulation warns that the price falls outside and the sign button does not appear.

While the price rises inside the range, the position sells SOL for USDC little by little and earns fees from the swaps. The average price of that sale is the geometric mean between the entry price and the maximum, the square root of (entry × maximum). In the example, the square root of 100 × 108 is 103.92, close to halfway to the maximum. With $1,000, when the price reaches 108 the position is entirely in USDC and is worth about $1,035, plus the fees earned: a 3.5% gain from the price, against 8% for someone who held SOL. From there up the position gains nothing more from the rise, and it also stops earning fees, because it left the range. With SOL at 150 or at 200, it is still worth $1,035; someone who held SOL would have $1,500 or $2,000. It is not half of the token's rise: it is close to half of the rise up to the maximum (the range's upper limit), and nothing above it.

While the price falls inside the range, the position does the opposite: it uses the USDC to buy SOL. Below the minimum it is entirely in SOL and falls together with SOL. In the example, with SOL at 70, the $1,000 position is worth about $700, the same as someone who held SOL. The shape, in short: on the way down the position loses as if it were SOL; on the way up, it gains as if it were USDC.

This is the most common mistake beginners make: entering a pool expecting to profit from the token's rise. The position does the opposite of what that idea needs: it sells the token while it rises and buys it while it falls. The shape is that of a covered call, where you receive a payment (here, the fees) and in exchange give up the rise above an agreed price (here, the range's maximum). In the example, on reaching the maximum the position is already $45 behind someone who held SOL, and the fees would have had to cover that difference while the price was still inside. A liquidity position earns the most when the price goes back and forth inside the range, and the least when it keeps moving in one direction. The token's whole rise stays with whoever holds the token.

Pip does not say where the price is going; it explains which range fits each expectation. If you expect the price to move sideways, a range around the current price is the one that spends the most time inside, earning. If you expect a rise, the range's maximum is the ceiling on your gain from the price: a higher maximum keeps more of the rise inside, in exchange for fewer fees per dollar. In the example, with the maximum at 200 and the same minimum, the position would reach 200 worth about $1,407, against $2,000 for someone who held SOL. A range entirely above the price, with only the token, would work like a sell order that earns fees while it sells; one entirely below, with only USDC, like buying little by little. InRange does not yet open a position outside the price. Pairs that move together (SOL/jitoSOL, for example) suffer little from the price difference, and the fee tends to be lower. The choice and the risk are yours.

A position's result is not measured against money sitting in USDC, but against what you would have if you had held the tokens: fees earned minus impermanent loss. When you put the position back in range after the price leaves, the loss stops being impermanent and becomes real, and you also pay the pool fee on the swap, the InRange fee and the network fee. When the price keeps moving in one direction, adjusting many times tends to cost more than the fees earn. The screen's estimated yield assumes the price stays inside the range: it is an estimate, and outside the range the position earns nothing.

The price can leave the range: the position stops earning and becomes a single token. The token can fall a lot or go to zero, and you are left holding it. Impermanent loss can be larger than the fees received, especially in narrow ranges and volatile pairs. The network can get congested and a transaction can revert: the network fee of a failed transaction does not come back. The dollar quote (which comes from a price aggregator) can diverge from the pool price; the screen warns when it does.

It dry-runs every transaction on the node before asking for your signature. It uses guaranteed minimums as the limits of what goes into the new position, so the transaction does not revert for lack of balance. It shows the InRange fee, the pool fee and the deposit before you decide. It does not let you sign a new range that would leave the price outside. It warns when the swap moves the price by more than 0.5%.

Never share your recovery phrase or your private key: not with InRange, not with Pip, not with anyone claiming to be support. If you pasted the phrase somewhere by mistake, move the funds to a new wallet. Check the site's address before connecting. The wallet always shows what you are about to sign; read it. InRange holds no keys, and therefore cannot move your money without your signature.

Pip explains how things work. It does not recommend a pool, a range or an amount, does not predict prices and does not promise returns. Every yield number on screen is an estimate, with the basis and the factor written next to it. Providing liquidity can lose money. Start with small amounts, understand how the position behaves for a few days, and only then increase.

Gains from crypto assets may be taxed in your country, and the rules vary. InRange does not compute or file taxes for you. Consult a professional in your jurisdiction.

InRange is an app for people who provide concentrated liquidity on Orca, the decentralized exchange (DEX) on Solana. It shows your positions on one screen: how much is in the pool, whether the price is inside or outside each position's range, and the fees you have earned. And it does in a single transaction what takes three on Orca: put a position back in range (close, swap and reopen), collect the earnings, close the position, and open a new position with a single token (zap).

InRange holds no keys, no passwords and no money. Your money sits in the Orca pool on the Solana blockchain, and your wallet (Phantom, Solflare, Backpack, MetaMask with Solana) is your login. Every operation follows the same path: the app builds the transaction, the Solana node dry-runs it (a simulation, nothing signed), the screen shows the final numbers, and only then you sign in your wallet. InRange never asks for your recovery phrase (seed phrase) or your private key. Whoever asks for that is not InRange.

The portfolio has three numbers: in the pool (the value of all positions), earnings to collect (accumulated fees not yet collected) and the number of positions. Each position is a card with the token pair, the current price, the range's minimum and maximum, the composition (how much of each token), the earnings and the estimated yield. The card holds the buttons: put back in range, collect the earnings and close. At the top of the portfolio is open position (the zap). There is a read-only mode: paste any wallet address and see its portfolio without connecting anything.

InRange charges a service fee of 0.15% of the swapped value when you put a position back in range or open with zap, capped at $5 per operation; positions below $200 pay nothing. It charges 5% of the earnings you collect through InRange (collecting directly on Orca costs nothing). The fee is charged in SOL, inside the same transaction you sign, and it is shown on screen before you sign. There are no hidden fees. The first 500 wallets to pay at least $1 in service fees become Founders and pay half the service fee forever. Whoever arrives through an invite pays 5% less on the service fee for 3 months. Swaps and the cross-chain bridge carry a 0.50% fee, charged inside the order. Besides the InRange fee there are the Solana network fee (cents), Orca's pool fee on the swap (for example 0.16%), and the rent deposit for the position account, which comes back when you close.

The app exists in Portuguese, English, Spanish, Simplified Chinese and Korean (the language selector is in the header). The Terms of Use and the Privacy Policy exist in Portuguese and English. Whoever accesses from South Korea or mainland China sees quotes, pools and read-only positions and can talk to Pip, but cannot run operations (open, adjust, collect, close, swap, bridge): InRange does not offer operations from those places, and using a VPN to get around this is not allowed. Hong Kong, Macau and Taiwan are not part of this restriction. Pip is the mascot: the marker on the range bar, with eyes. Green when the price is inside the range, amber when it left. Pip is also this assistant: it explains how the app and concentrated liquidity work, but it does not recommend pools, does not predict prices and does not promise returns.

Every InRange operation has the same steps:

1. the app builds the transaction;
2. the Solana node dry-runs it, unsigned (if the node rejects it, nothing happens);
3. the screen shows the final numbers (what leaves, what goes in, the slippage, the costs, the InRange fee);
4. you click sign and your wallet opens;
5. you check and sign in the wallet;
6. the transaction is sent and the screen waits for confirmation. Only the wallet that owns the position can sign. In read-only mode you see everything up to step 3.

This is the main function: it closes today's position, swaps what is left to the new range's proportion and opens the new position, all in one transaction (three if it does not fit). Open the panel on the card, choose the range (handles or minimum and maximum), simulate, and when the price lands inside the new range the button to dry-run on the node appears. The slippage is 1% on the swap and on the opening. The limits of what goes in are the guaranteed minimums: the program computes the liquidity on the spot, and whatever is left returns to the wallet.

Collects the accumulated fees (and pool rewards, if any) to your wallet. The position stays open, in the same range. InRange charges 5% of the collected earnings, in SOL, in the same transaction.

Withdraws all the liquidity, collects the earnings, closes the position account and the NFT that proves ownership. Both tokens return to the wallet and the account's deposit (rent) is refunded. Closing cannot be undone: to earn fees again you need to open a new position and pay the deposit again.

Opens a new position with what is in the wallet, with a single token or both. Choose the pool (one of yours, one of the popular ones, or paste an address), say how much leaves the wallet (the max button uses what is available; for SOL, the app holds back 0.02 SOL for the network fee and the deposit), choose the range, simulate. The swap to the range's proportion and the opening go in the same transaction. When the deposit is in SOL, the app wraps it as wSOL inside the transaction and unwraps what is left.

The wallet shows the transaction you are about to sign: the instructions, the tokens leaving and entering, the network fee. Compare it with the InRange screen. If something does not match, do not sign. In the Solana operations (the pools and swaps), InRange never asks you to sign a loose message or to transfer tokens to an address. The exception is the cross-chain bridge, on the EVM side: Relay may ask for a permission signature (a permit) that authorizes moving the amount the screen showed, the first time with a token a permission for the Permit2 contract, and the deposit goes to Relay's address. The bridge window flags each of these requests beforehand. A signature request that shows up outside these screens is not from InRange.

"The node throttled the reads": the Solana node limited the calls; wait a few seconds and try again. "This position is not in the connected wallet": you are viewing a wallet in read-only mode, or you connected another wallet. "No dollar quote": the app could not find the token's price; dollar values appear as a dash and the InRange fee is waived. "The transaction was sent but did not confirm within 90 s": check the explorer before trying again; it may confirm later.

The Swap tab trades one token for another within Solana. The path is found by Jupiter, an aggregator that compares the pools of several exchanges and splits the order along the cheapest route. The screen shows how much you receive, the guaranteed minimum (if the price moves beyond the slippage, the swap does not happen) and the route. When you click sign, InRange quotes again: if the price got worse since the review, the screen shows the new numbers before asking for the signature. You sign in your wallet and Jupiter executes.

On the same tab you can bring money from another network to Solana, where the pools live, and take it back: Base, Ethereum, Arbitrum, Optimism, Polygon, BNB Chain, Avalanche and HyperEVM. The bridge is done by Relay. On the EVM side, a wallet like MetaMask signs: sometimes a gasless signature (a permit), sometimes a token approval and the deposit. Then Relay delivers on the other side, usually in seconds, and the screen follows it until it arrives. If delivery does not happen, Relay refunds the money on the origin network.

Swaps and the bridge carry an InRange fee of 0.50%, charged inside the order itself by Jupiter and Relay and shown before you sign. On top of it there are the network fees on each side and, for swaps, the price of the pools along the route. These fees do not count toward a Founder seat and do not generate referral rewards, because they do not go through an InRange instruction: they are charged by the Jupiter and Relay programs.

The first 500 wallets that pay, across all operations, at least $1 in service fees to InRange become Founders and pay half the service fee forever, starting with the next operation. $1 in fees is roughly what putting a $2.2k position back in range costs. The seat counter is public and comes from the chain itself: anyone can check who paid. There are no points and no token.

Anyone who has already paid an InRange fee has an invite link on the Refer tab. Whoever joins through it pays 5% less on the service fee for 3 months. The person who invited receives 10% of every fee the invitee pays InRange (service and performance) for 12 months, in SOL, straight to the wallet, inside the same transaction: there is no balance to withdraw. The invitee discount does not stack with the Founder discount; the larger one applies.

The invite code is the start of the referrer's wallet address, and the link is in-range.app/convite/ followed by the code. Only a wallet that has never paid an InRange fee can be referred, and only once: the invite has to be in the browser at its first fee, and from then on the link does not change. Whoever arrives through an invite sees a strip at the top of the screen and can choose not to use it. Swaps and the bridge are outside the program.

The link between referrer and referee is recorded on chain, like every transaction: anyone can see it. The program takes new invitees for 12 months from its start, or until 2,000 active wallets (that paid a fee in the last 30 days), whichever comes first, with notice on screen 30 days before. Wallets already referred keep earning for their referrer until they complete 12 months. The Refer tab says whether the program has launched and until when it takes invitees. No points, no token, no cash prize.