# Zero Liquidity LBPs

*<mark style="color:green;">**Live now!**</mark>*&#x20;

Zero Liquidity LBPs are an advanced sale feature on Fjord that allow projects to launch without providing upfront capital. Instead of starting with actual deposited liquidity, these LBPs use a virtual automated market maker (vAM&#x4D;**)** model, which blends real and virtual liquidity once the sale begins.

This feature is fully supported across Fjord’s LBP infrastructure and is available by default when setting up a compatible sale—no additional configuration is required beyond selecting the LBP mechanism as your preferred choice of token sale.&#x20;

## **How Zero Liquidity LBPs work**

**Virtual Launch**\
The LBP begins in a virtual state, meaning you do not need to deposit real collateral at the start. The initial price is calculated using a combination of your token and virtual collateral (e.g. USDC, WETH), based on the weight curve you define.

**First Purchase Triggers Real Liquidity**\
When a buyer makes the first contribution with real assets (e.g. USDC or WETH), the system blends this real liquidity into the pool and continues with the programmed pricing trajectory.

**Dynamic Price Discovery**\
After the initial trade, the LBP functions like a traditional LBP, with pricing determined by market activity and the predefined curve

### Benefits of Zero Liquidity LBPs

**No Upfront Capital Required**\
Launch without needing to deposit stablecoins or other collateral. This reduces financial barriers for early-stage projects.\
\
**Lower Risk Exposure**\
Creators don’t risk capital by funding the pool upfront—real liquidity only enters when participants contribute.

**Equal Accessibility**\
This model makes LBPs more accessible to all types of projects, encouraging innovation and experimentation.