💦Token-owned Liquidity (ToL)

Liquidity is programmed into the token itself.

ToL (Token-owned Liquidity) = When the AMM lives inside the token and it owns its own liquidity.

Every TOKEN minted is backed by at least 1 BASE. The bonding curve enforces strict supply control policy when creating/destroying TOKEN. It can only be created by inputting BASE in the bonding curve. And BASE can only be removed from the bonding curve by inputting TOKEN, removing it from circulation.

This enables: single-sided liquidity, no impermanent loss, virtual liquidity, floor price, borrowing, and call option emissions.