Ilyris is a bin AMM. Liquidity sits in discrete price steps rather than spread along a curve, which is what makes a trade inside one step cost nothing in slippage — and what makes choosing your range the decision that matters.
Any EVM wallet works. If your wallet has not seen Robinhood Chain before, the page offers to add it — chain ID 4663. Nothing is custodial: transactions are signed and broadcast by your own wallet, and the RPC endpoint chosen in settings is used for reads only, so it can never see a key or change what you sign.
The page opens on mainnet, where balances are real. Prefer to practise first? Switch to testnet with the network picker in settings and claim free tokens from the faucet that appears there.
Pick a direction, type an amount, and the panel quotes it against the pool's own bins. Two things it tells you that most swap panels do not: how many bins the trade crosses — one bin means zero price impact — and what the 0x aggregator offers for the same trade, so you can see whether this pool is actually the better venue.
Holding ETH rather than WETH is fine. The panel wraps exactly the shortfall and keeps a gas reserve back, so wrapping can never leave you unable to pay for the swap that follows.
Your range is your position. Liquidity only earns fees while the price is inside it. A narrow range concentrates your capital and earns more per dollar while price stays put; a wide one earns less but keeps earning through a bigger move. Neither is correct — it is a view on volatility.
Set the range by dragging the handles, typing a price, or typing a percentage
(+25%, -12.5%). Then pick a shape:
A range entirely above the current price holds only the base token, and one entirely below holds only the quote — that is a resting order, not a broken deposit, and the page labels it as such.
Gas scales with the number of bins, because every bin is its own set of storage writes: about 88k per fresh bin plus ~60k fixed, so a 9-bin deposit is roughly 850k gas.
Topping up a bin you already hold is cheaper, about 44k — but only while that bin has earned nothing. The saving is the fee bookkeeping writing zero over zero, and once a bin has traded it costs about 89k, the same as a fresh one. So "widening an existing range is cheaper" holds in a quiet pool and stops holding in a busy one. The app checks which case you are in and prices your deposit accordingly.
That is not "a few cents" — at recent prices a 9-bin deposit runs around half a dollar and a 98-bin range runs into several. This page used to say a few cents, which understated it by roughly ten times. Do not size a range off this paragraph: the range note in the app prices your deposit at the current gas price, before you sign.
Swaps pay the pool's fee on the way in. Fees accrue to your position continuously and are claimed separately, so claiming never disturbs your principal.
Withdraw any percentage at any time. Removals are never gated. The market guard can pause swaps — that is what lets an equity pool respect a closed market — but it is structurally unable to block a withdrawal. Your principal is not something anyone can hold hostage, including us.
The contracts are unaudited. They are tested heavily and source-verified on Blockscout, so you can read them — but neither of those is an audit, and this is real money. Start with an amount you would be relaxed about losing entirely. See the terms for what the operator key can and cannot do.