Yuzu Finance
Yuzu is a non-custodial concentrated-liquidity AMM deployed on Movement. An LP chooses a price interval and supplies two-token inventory; as price crosses the interval, the position accumulates one asset, can become inactive, and stops earning fees until price returns. Yuzu itself identifies impermanent loss as an LP risk. The 2026-08-16 survey reported about $1.13 million on Movement. The AMM-LP dossier rejects this economic position; Movement settlement and subscale liquidity are additional independent barriers.
- Ships a product line without impermanent-loss exposure that merits its own review
Watched nightly: a warning on its venues or files, or a cited document that changes, reopens the memo. The first confirmation is due 2026-11-16.
The research file
Mechanism applicability
Yuzu describes itself as a Movement-native CLMM. LPs choose targeted price ranges and swaps execute against pooled liquidity rather than an order book. Pool receipts represent a pro-rata claim on the pool, so the client supplies two-sided, price-responsive AMM inventory and directly matches the shared AMM-LP dossier.
Inventory and exit applicability
Yuzu explains that a price move changes the LP token mix and can leave the position entirely in one asset; once outside the chosen range, liquidity becomes inactive and stops earning fees. Its liquidity-pool guide expressly identifies impermanent loss. A withdrawal returns the then-current pool claim, so exit does not promise the original token mix or eliminate price impact and token-contract risk.
Current observation and perimeter
The DefiLlama API read on 2026-08-16 classified Yuzu as a DEX and reported approximately $1.13M, all on Movement. Yuzu continues to call the protocol live on Movement. This record covers Yuzu LP exposure only and does not infer approval of Movement, MOVE, bridged assets or any separate product.
Why the class rule decides
Fees require two-token AMM inventory that changes with trades and price, making the version-1 AMM-LP dossier decisive. Movement is not an approved settlement chain and current TVL is below the institutional threshold, but both are additional barriers. Reopen only for a named non-LP product on an approved chain and then review its own controls, incidents, liquidity and exit path.
Class rule
The amm lp class is outside the approved structures, so every protocol in it is not approved until the rule changes. The rule is about the structure, not an adverse finding about this protocol, and it is not a client instruction. The events that would reopen it are listed with the memo.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- Yuzu docs — protocol and Movement perimeter · primary · accessed 2026-08-16
Supports: Movement, CLMM, non-custodial, price ranges - Yuzu docs — concentrated-liquidity product · primary · accessed 2026-08-16
Supports: AMM, two-token liquidity, price ranges, fees - Yuzu docs — active and inactive liquidity · primary · accessed 2026-08-16
Supports: out of range, inactive liquidity, single-asset endpoint, fee cessation - Yuzu docs — pool receipts and impermanent loss · primary · accessed 2026-08-16
Supports: LP tokens, withdrawal claim, trading fees, impermanent loss - DefiLlama — Yuzu Finance survey record · secondary · accessed 2026-08-16
Supports: current TVL, Movement, DEX category, survey observation
Inherited controls
The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The layer with the most administrative power sets the position’s effective control; that describes control, not quality or suitability.
| Chain | Verdict | Control | Control constraint |
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