# Positions

As each LP Token on GnoSwap is unique based on its price range and liquidity, **LP Tokens are minted as NFTs,** called **Positions,** due to their uninterchangeable nature. To ensure that the underlying tokens and fees due are always derivable, position contracts store the following values:

* **User:** The owner's account address.
* **Lower & upper bound:** The price range in ticks.
* **Liquidity:** The geometric mean of underlying tokens.
* **Collected fees:** Accrued fees per liquidity unit.

Within a single pool, the liquidity of positions with overlapping pricing ranges are merged within the same tick, which results in a liquidity distribution that looks like the following graph:

<figure><img src="https://1737588250-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FzhHIRYhJhsVkjaycRq4b%2Fuploads%2FozrN7iBXlYa7OKa1SBjt%2Fposition.png?alt=media&#x26;token=1798b595-9aaa-4d35-ada0-28e7545822d2" alt=""><figcaption></figcaption></figure>

As a result, LP tokens are not fungible and represent a unique position in the pool, allowing for finer control over liquidity provisioning and better capital efficiency.