CONCEPT 05 · CASE STUDY

Liquidity

What makes participation usable rather than ceremonial?

Liquidity is not the same thing as volume. It is the ability to enter or exit without moving the price too far. A market can have attention, transactions, and a compelling story while remaining fragile at the point of use.

TRY THIS

Make the mechanism smaller.

Separate depth, spread, slippage, volume, and number of traders. They measure different parts of the experience.

Falsifier to carry forward: What happens to the mechanism when attention falls and the next participant cannot trade near the displayed price?

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