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Liquidity providers deposit both pool assets and receive fungible LP tokens representing their proportional share. Swap fees accrue inside the pool and are realized through the LP share value. When adding liquidity after pool creation, the reserve ratio determines the accepted token ratio. When removing liquidity, LP tokens are burned and the provider receives the corresponding reserves. KovaSwap does not lock LP tokens by default. A launchpad that promises locked or burned liquidity must implement and prove that policy separately.