---
title: "Beaker"
path: "/ecosystem/beaker"
bannerImage: "https://j9ytchrzkvqpcul7.public.blob.vercel-storage.com/9baf46b3-bfb3-433f-bf73-cbb7ff9c8271.avif"
version: "2.1.0"
author: "ShardSpace Admin"
createdAt: "2026-02-06T16:07:53.056Z"
updatedAt: "2026-07-18T11:30:37.796Z"
---

# Beaker

<Infobox>
```html

| **Decentralized Exchange (AMM)** |
| [Radix Ecosystem](/ecosystem) |
| Automated Market Maker (AMM) using a constant-product market-making model |
| Minimal version running on Radix Betanet 2 |
| No token planned; the team is opposed to issuing speculative "DAO tokens" |
| Token swapping, liquidity provision with NFR-based positions, relative portfolio evolution tracking |
| Three master's degree students from [Ecole Normale Supérieure de Lyon](https://www.ens-lyon.fr) |
| [Official Beaker Documentation](https://web.archive.org/web/20230121161314/https://docs.beaker.fi/) |

```
</Infobox>

**Beaker** was an Automated Market Maker (AMM) built on Radix, with the goal of radically changing the experience of decentralized exchanges.

## **Vision**

The purpose of Beaker was to solve issues by making a complete overhaul of the DEX experience. Beaker identified the current experience of providing liquidity as closer to gambling than investing. On most DEXes, after providing liquidity to a pool, users are left clueless about the performance of their investment. Beaker aimed to change this by using distributed ledgers to their full capacity to automate this process.

The design of Beaker revolved around three ideas:

1. $1

2. $1

3. $1

## **Features**

At the moment, Beaker was running a minimal version on the Radix Betanet 2. These features included swapping and providing liquidity. Beaker currently used a Uniswap v2 AMM model where fees were not automatically compounded. After providing liquidity, users got a Position, a Non-Fungible Resource (NFR) that gave an overview of the liquidity provided.

### **Liquidity Pools**

Beaker used the constant-product market-making model for its liquidity pools. Providing liquidity comes with a risk called impermanent loss. Beaker did not plan on minting tokens to give additional rewards to liquidity providers (also known as liquidity mining).

### **Relative Portfolio Evolution**

Beaker introduced the concept of relative portfolio evolution to have a better understanding of liquidity providing by taking fees into account. This concept was used to make a bet on the relative pool's rate evolution at the moment of removing liquidity.

For more detailed information, please visit the [**official Beaker documentation**](https://web.archive.org/web/20230121161314/https://docs.beaker.fi/).

### **Tokens/Tokenomics**

At the moment, Beaker did not plan to emit a token. They were very sceptical about the real utility of "DAO tokens" and believed that they are mainly speculative assets that some projects use to make a profit. Therefore, issuing such tokens would be against their philosophy.

## **Team**

The team behind Beaker consisted of three master's degree students from [Ecole Normale Superieure de Lyon](https://www.ens-lyon.fr).

- Theodore Conrad-Frenkiel, frontend development.

- Arthur Vinciguerra, Scrypto code.

- Guillaume Méroué, backend development.

## **Business Model**

Beaker acted as a platform that matched liquidity providers and traders. This kind of platform usually takes a 15% commission fee. Beaker would therefore take up to a 15% commission on all accrued fees. They planned on making their tools free for all users. However, tools that track investments and risks would only work for their pools. If it was not sustainable, they reserved the right to charge for these tools or make them available only for liquidity providers.

## Further Reading

[https://arxiv.org/pdf/2301.08558.pdf](https://arxiv.org/pdf/2301.08558.pdf)