> For the complete documentation index, see [llms.txt](https://docs.tensor.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tensor.trade/provide-liquidity/how-to-provide-liquidity.md).

# How to Provide Liquidity

{% hint style="info" %}
Wondering why should you bother? Read [Why Provide Liquidity?](/provide-liquidity/why-provide-liquidity.md) first.
{% endhint %}

"Providing liquidity" on TensorSwap means creating "maker" orders, which include:

* [Collection-wide bids](#collection-wide-bids)
* [Listings](#listing-orders)
* [Market-making orders](#market-making-orders)

If you're unfamiliar with "maker" / "taker" terminology, [read this](https://www.investopedia.com/articles/active-trading/042414/what-makertaker-fees-mean-you.asp#:~:text=Maker%2Dtaker%20fees%20are%20transaction,on%20the%20platform's%20order%20book.).

## Collection-Wide Bids

<figure><img src="/files/4YFldP6qMzFlTMdRxTiJ" alt=""><figcaption></figcaption></figure>

Collection-wide bids let you put in an **offer for the entire collection**. For example, you might offer to buy "any SMB" for 100 SOL. Anyone with a SMB can then take that offer.

When placing more than one bid at a time you can make use of TensorSwap's [bonding curve ](/provide-liquidity/advanced-concepts/bonding-curves.md)functionality. This is just a fancy way of saying you can automate your bid prices to adjust downwards with every subsequent purchase.&#x20;

If you choose an "exponential" bonding curve (%) with a starting price of 1 SOL and an increment of 10%, each consecutive purchase will be 10% lower. So for 5 NFTs, it would be: 1 SOL > 0.9 > 0.81 > 0.74 > 0.67.

To set up a collection-wide bid:&#x20;

1. Head over to <https://www.tensor.trade/>
2. Choose your desired collection
3. On the right hand side choose **BUY** > then **COLLECTION-WIDE BID**
4. Choose the number of NFTs you are willing to buy, starting price, and the decrement, then place the order

{% hint style="info" %}
For a **detailed tutorial** on placing collection-wide bids, see [Buy or Bid](/trade/get-started-with-tensors-amm/buy-or-bid.md).
{% endhint %}

## Listing Orders

<figure><img src="/files/OnI3osiSnfGQpqcuXVDf" alt=""><figcaption></figcaption></figure>

List orders let you **list a bunch of NFTs at the same time**, exactly like listings you'd put up on OpenSea or MagicEden, with one big difference - *you can configure a bonding curve*.

[Bonding curve](/provide-liquidity/advanced-concepts/bonding-curves.md) simply means that with each sale, your selling price adjusts upwards. This lets you sell at higher prices as your portfolio gets depleted.

If you choose a "linear" bonding curve (◎) with a starting price of 1 SOL and increment of 0.1 SOL, each consecutive sale will be 0.1 higher. So for 5 NFTs, it would be: 1 SOL > 1.1 > 1.2 > 1.3 > 1.4.

To set up a list order:

1. Head over to <https://www.tensor.trade/>
2. Choose your desired collection
3. On the right hand side choose **SELL** > then **LIST**
4. Choose the number of NFTs you re willing to sell, starting price, and increment, then place the order

{% hint style="info" %}
For a **detailed tutorial** on listing NFTs, see [Sell or List](/trade/get-started-with-tensors-amm/sell-or-list.md).
{% endhint %}

## Market-Making Orders

{% hint style="info" %}
You'll need to be in "Pro" mode (bottom toggle) to market-make.
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<figure><img src="/files/GS2QZHT8EnP8nm5OhX4f" alt=""><figcaption></figcaption></figure>

[Market-making](https://www.investopedia.com/terms/m/marketmaker.asp) orders are the most complex but also the most interesting out of the three.

In short, it's a **two-sided orde**r in which you're offering to **both buy and sell a certain number of NFTs.**&#x20;

{% hint style="info" %}
Read the above two sections first to understand how **collection-wide bids** and **list orders** work.
{% endhint %}

An MM order is just a collection-wide bid + a list order placed together, with a few key differences:

1. When placing a MM order, your **starting BUY price will be 1 notch lower** than your starting SELL price. So, for example, if you're setting up a MM order on a linear curve with 0.1 SOL delta and 1 SOL starting price, your first BUY price will be 0.9 (0.1 lower than 1 SOL).
2. Placing an MM order lets you **set up custom fees (up to 25%).** These are charged on top of Tensor's 1% taker fees and are completely up to you. We recommend setting up something reasonable, so you attract buyers.
3. When a MM order SELLs to the taker (buyer), **royalties are voided.** This is done to incentivize market-making orders which create volume and liquidity for the collection. When a MM order BUYs from the taker (seller), royalties are upheld and paid by the taker.

To set up a market-making order:&#x20;

1. Head over to <https://www.tensor.trade/>
2. Choose your desired collection
3. On the right-hand side choose **MARKET-MAKE**
4. Choose the number of NFTs you re willing to buy & sell, starting price, and delta, then place the order

{% hint style="info" %}
For a **detailed tutorial** on market-making NFTs, see [Market-Make](/trade/get-started-with-tensors-amm/market-make.md).

For a rundown of config params & for **3 simple templates** (low risk 🟩, medium risk 🟨, high risk 🟥) check out [Setting up your Market-Making Order](/provide-liquidity/setting-up-your-market-making-order.md)
{% endhint %}