Orca is a permissionless exchange on Solana that operates via concentrated liquidity automated market maker (CLAMM) pools. On Orca’s application, users can trade SPL tokens that have liquidity and/or provide liquidity to existing/new SPL token pairs. In contrast to a traditional automated market maker (AMM) pool where liquidity is provided across the entire price range from zero to infinity, liquidity providers (LPs) on Orca can choose a price range within which to provide liquidity or opt to provide the full range in certain pools where this feature is available.