DEX Liquidity

Overview

Wild Goat Coin’s market structure is built around three permanently locked, decentralized core liquidity pools designed to support long-term price discovery, accessibility, and supply discipline — without reliance on active treasury management, discretionary intervention, or third-party market makers.

These pools form WGC’s core liquidity infrastructure. The liquidity positions deployed at their creation are non-custodial, immutable, and cannot be withdrawn or rebalanced.

While the USD-denominated value of these pools changes over time due to fluctuations in ETH and HYPE, the underlying WGC/ETH and WGC/HYPE liquidity ranges themselves are permanent.

Core Liquidity Pools

WGC’s core liquidity is concentrated across three primary chains:

Together, these pools serve as WGC’s price discovery venues and form the foundation for downstream markets and cross-chain activity.

Approximately ~40% of total WGC supply (~1.6B WGC) was deployed into core liquidity pools during an October 2025 restructure.

Liquidity Structure & Price Dynamics

Each core pool was deployed with:

• a single, small full-range position, and

• 62 concentrated liquidity positions spanning predefined price ranges.

This structure distributes liquidity across specific price bands rather than evenly across all prices.

How the structure behaves

• When WGC is purchased, WGC is removed from the pool and replaced with ETH or HYPE.

• When WGC is sold, WGC is added to the pool while ETH or HYPE is removed.

As price increases, the pools progressively hold more ETH/HYPE and less WGC, increasing native-asset backing. As price decreases, available WGC liquidity increases.

This results in a self-balancing liquidity curve, where:

• buy pressure increases native-asset reserves

• sell pressure increases available WGC liquidity

Core liquidity positions cannot be actively rebalanced or adjusted.

Liquidity Depth Chart

The liquidity depth chart (above) visualizes the distribution of WGC’s core protocol liquidity across different USD price levels, derived from the underlying WGC/ETH and WGC/HYPE ranges.

The chart supports two viewing modes, each highlighting a different aspect of the same liquidity structure.

WGC Depth

WGC Depth visualizes the density of WGC tokens available within each price range.

This mode answers the question:

“How much WGC supply is available to buy or sell at different prices, relative to other levels?”

Key characteristics:

• Density is calculated from the quantity of WGC tokens allocated to each range

• As price increases, available WGC liquidity typically decreases

• As price decreases, available WGC liquidity increases

• This reflects how WGC availability changes across the liquidity curve

This view is most useful for understanding token-side liquidity depth and how WGC supply is distributed across price bands.

Notional USD

Notional USD visualizes the USD-equivalent value of WGC, or ETH and HYPE at different levels.

This mode answers the questions:

“How much notional capital would be required to move price through different levels, relative to others?”

“How much notional capital provides price support below a specific price, relative to other levels?”

Key characteristics:

• Density is derived from the estimated USD value of WGC, or ETH and HYPE in each range

• USD values change dynamically as ETH and HYPE prices change

• The underlying ETH and HYPE liquidity ranges themselves remain static

This view is most useful for understanding capital depth and the notional cost required to move WGC through different levels.

Additional Notes

• The chart reflects core liquidity only

• Core liquidity positions are permanently locked and immutable

• ETH and HYPE liquidity ranges do not change over time

• Only their USD representation changes with market prices

• Darker regions indicate higher relative liquidity density within the selected mode

This chart is provided for transparency and structural insight. It does not attempt to predict price behavior or define support and resistance levels.

Core vs Permissionless Liquidity

The liquidity described on this page refers exclusively to WGC’s core protocol liquidity.

Any participant may:

• deploy independent liquidity

• create additional liquidity positions in core pools

• establish new WGC markets

• create trading pairs on supported chains

Such markets or positions may influence price dynamics but do not alter the structure, ownership, or behavior of WGC’s core liquidity pools.

Trading activity within these pools directly feeds into WGC’s deflationary mechanics, detailed in the Buyback & Burn section.

Background Context

Earlier development of WGC experimented with incentive-driven liquidity programs and active liquidity management across multiple ecosystems.

In April 2024, an incentives program with a Solana liquidity platform was materially compromised by exploitation of the underlying incentives mechanism, resulting in significant supply expansion and liquidity loss. Subsequent recovery efforts explored multiple liquidity pairings and structural approaches with mixed results.

By October 2025, the project concluded that transitioning to a decentralized, permanently locked liquidity structure offered a more sustainable long-term path.

This marked a shift to:

• permanently locked liquidity

• immutable market structure

• a fully decentralized, dynamic liquidity curve model