Primitive - Crypto derivative products built on the Replicating Market Maker protocol, an oracle-free solution to scalable and efficient on-chain derivatives.
Out of the box, Primitive is the base infrastructure for an oracle-free DeFi and the future of on-chain derivatives.
Every liquidity provider to the popular automated market makers ("AMMs") has, implicitly or explicitly, held an underlying derivative: the liquidity pool token ("LPT").
Read on to learn about "derivative tokens" and how the pools concentrate liquidity as an AMM.