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Spartan Protocol is a Protocol for Incentivised Liquidity and Synthetic Assets. The Spartan Protocol incentivises the formation of capital in liquidity pools, such that they can be used for synthetic token generation, lending, derivatives and more. The heart of the Spartan Protocol are its incentivised liquidity pools, driving on-market capital formation. The liquidity pools are facilitated by an automated-market-maker (AMM) algorithm with liquidity-sensitive fees. Liquidity-sensitive fees ensure the system can sense correct token purchasing power at all times, allowing scalable and risk-tolerant growth.