LP Tokens

What is an LP Token?

LP tokens are often distributed by DeFi protocols upon depositing into them and represent a claim to underlying asset(s).

LP tokens, like Basic tokens, conform to the ERC20 standard and are composed of other LP tokens, Basic tokens, or Native tokens. Some of these include:

• Pool tokens (e.g. Curve LP like the 3CRV (DAI/USDT/USDC) pool )
• Vault (Yield aggregator) tokens (e.g. Yearn yvTokens like the yvWBTC vault),
• Lending tokens (e.g. Aave aTokens like aDAI or Compound cTokens like cDAI),
• Liquid staking derivatives (LSDs) (e.g. Lido stETH)
• Yield tokens (e.g. Convex cvxCRV)

The Portals API facilitates swapping among these types of tokens seamlessly without exiting or unwrapping them into Basic or Native tokens first via Portals

tip

Any token that is not categorized as a Native or Basic by the Portals API is considered an LP token. LP tokens have a unique Platform associated with them.

Properties of an LP Token

The object shown below is an example of a response for an LP token returned by the the Portals API.

Prop	Example	Description
key	"ethereum:0x117a0bab81f25e60900787d98061ccfae023560c"	A unique key identifying this token
name	"Curve.fi FRAX/USDC Convex Deposit"	The formatted name of the token
decimals	18	The number of decimal places the token uses
symbol	"cvxcrvFRAX"	The symbol of the token
images	["https://assets.coingecko.com/coins/images/15585/large/convex.png", "..."]	An array of images representing this token and it's underlying tokens
price	1.0011709453684463	The current USD price of the token
liquidity	681822400.2612257	The current USD market cap of the token
metrics	{"apy": 2.09039, "volumeUsd1d":..., "volumeUsd7d":...}	APY and volume metrics for the token
tokens	["0x3175df0976dfa876431c2e9ee6bc45b65d3473cc"]	An array of underlying tokens belonging to this token. See below for more details
platform	"convex"	The platform the token belongs to
address	"0x117a0bab81f25e60900787d98061ccfae023560c"	The address of the token
poolAddress	"0x117a0bab81f25e60900787d98061ccfae023560c"	The address of the pool that is associated with the token
addresses	{"ethereum": "0x117a0bab81f25e60900787d98061ccfae023560c"}	An object containing the addresses of the token on other networks
network	"ethereum"	The network this token exists on
updatedAt	"2022-10-21T10:39:30.243Z"	The date and time of the last update for this token

Additional considerations

• The liquidity prop refers to the USD value of the pool's reserves (i.e the price of the underlying token * the quantity of the underlying token in the pool).
• The images prop includes the platform's image at index 0 and it's underling tokens beginning at index 1
• A poolAddress prop may be returned in cases where the address prop is different from the pool's address (e.g. some Curve pools). If a poolAddress does not exist, this prop is undefined.
• The metrics object may be empty if APY and/or volume data is not available for the token.