# ICDexMaker

ICDex is Managed by ICDexRouter, it employs a grid strategy similar to Uniswap's AMM, but with a unique twist - it's based on an order book DEX model. ICDexMaker features two types of market-making pools:

* Public Maker: A communal pool where any user can contribute liquidity.
* Private Maker: Exclusive to its creator, allowing only them to add liquidity.

Notably, holders of the #NEPTUNE NFT can link ICDexMaker with ICDexRouter's vip-maker for additional rebate benefits.

#### Key Concepts:

* **Roles**: The ICDexRouter and a DAO govern ICDexMaker. Creators have exclusive rights to their private ICDexMakers, while Liquidity Providers (LPs) contribute to and hold shares in the liquidity pool.
* **Liquidity Pool**: Consolidates LPs' assets, engaging in pair trading. Assets are split between the trading pair and a local account.
* **Liquidity Share & NAV**: Represents the LPs' stake in the pool, with Net Asset Value (NAV) indicating the per-share asset value.
* **APY Calculation**: Annual returns vary based on asset types and are calculated using current and historical NAVs.
  * 24h APY = (Current\_NAV - NAV\_24h\_ago) / NAV\_24h\_ago \* 365
  * 7d APY = (Current\_NAV - NAV\_7d\_ago) / NAV\_7d\_ago / 7 \* 365

#### Deployment and Operations:

* **System Transaction Lock**: Ensures accurate NAV calculations by preventing simultaneous operations during asynchronous fund transfers.
* **Token Values and APYs**: Determined by the pool's asset balance and share distribution, with distinct formulas for short and long-term yields.
* **Deployment**: Can be initiated via ICDexRouter or manually, requiring specific parameters for setup.

#### Fee Model:

* **Withdrawal Fee**: A combination of a fixed and percentage-based fee applied to liquidity removals.

#### Core Functionality:

* **Settlement and Funds in Transit**: Ensures accurate recalculations of NAV and shares upon liquidity changes, with safety measures to maintain asset security.
* **Reserve Funds**: A portion of liquidity is held in reserve for minor withdrawals.
* **Grid Strategy Market-Making**: Utilizes a grid system for trading, with parameters like spread rate and volume factor adjustable based on market dynamics.
* **Liquidity Limit**: Post a threshold, liquidity additions are capped based on users' trading volumes to optimize yield distribution.
* **LP Yield Potential**: Involves risks and possibilities of gains from grid spreads, vip-maker rebates, withdrawal fees, and potential airdrops or liquidity mining.


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://iclighthouse.gitbook.io/iclighthouse/products/icdex/how-does-icdex-work/icdexmaker.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.