Where the name comes from
XYC is shorthand for the constant-product formula: x times y equals a constant. The product of the two reserves stays fixed, so some liquidity sits at every price and a quote always exists. It is the oldest AMM design, and on Aqua it runs as the Full range tier of Straight positions.
When full range makes sense
- You want coverage at every price without watching a range.
- The pair is volatile and you'd rather earn on every fill than move a range to follow the price.
- You are quoting a long-tail token where any two-sided liquidity is scarce.
The trade-off
Full-range liquidity is spread thin: at any given price only a small share of it is active, so fee density is lower than a well-placed concentrated range. In exchange, you never rebalance.
