I built a permissionless constant-product AMM on Liquid, enforced entirely by Simplicity smart contracts on-chain. No admin key. No treasury. No upgrade path. No token. Just pools. Anyone can deploy a pool for any two Liquid assets with whatever fee rate they choose (or zero). The market finds liquidity naturally — higher fees attract LPs, lower fees attract traders. Fees don't get extracted. They stay in the reserves, so every LP's position appreciates proportionally with every swap. Exit whenever you want. All four core operations confirmed on Liquid testnet: 🏊 Pool creation https://blockstream.info/liquidtestnet/tx/afa1dccae20eef2… 🔄 Swap (1000 sats → 363 sats) https://blockstream.info/liquidtestnet/tx/2a35b2d8418057e… ➕ Add liquidity https://blockstream.info/liquidtestnet/tx/97bde09edaf4097… ➖ Remove liquidity https://blockstream.info/liquidtestnet/tx/c9a7511391667e5… Going open source (MIT) after production hardening. No shitcoins. No points. No roadmap promises. Just working code.