# Liquidity Pools

Notional makes fCash available to trade within its built-in AMM-enabled liquidity pools. A Notional liquidity pool holds fCash alongside its currency type (Dai and fDai, for example). A liquidity pool refers to a **maturity:** a Dec 1 2020 liquidity pool holds Dec 1 2020 fCash.

![Dec 1 2020 DAI Liquidity Pool](https://1632304260-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MI0SmezuP0sAu-OXOVm%2F-MIpcQofe_ca2fuoHsuE%2F-MIVf609MCHVb8A4n91S%2Fliquidity%20pool%2001.png?alt=media\&token=bcd74f30-aa80-44af-a24f-8256db429a72)

### Maturities

Liquidity pools mature at a set cadence depending on the governance parameter settings. One example would be quarterly pools that mature every 3 months.

![Quarterly Dai Liquidity Pools](https://1632304260-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MI0SmezuP0sAu-OXOVm%2F-MIpcQofe_ca2fuoHsuE%2F-MIVlecxoElATX7IzS2M%2Fliquidity%20pool%2002.png?alt=media\&token=e83f74d9-7ec6-45ee-a938-7c17b378c1d1)

### User Types

Three user types interact with Notional liquidity pools: lenders, borrowers, and liquidity providers. Lenders deposit Dai into the pool and receive fDai (a promise to **receive** a fixed amount of Dai at a future date). Borrowers take Dai from the pool and deposit fDai (a promise to **pay** a fixed amount of Dai at a future date). The liquidity provider adds Dai and Dec 1 2020 fDai into the pool which can be lent or borrowed by either party.

![](https://1632304260-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MI0SmezuP0sAu-OXOVm%2F-MIpcQofe_ca2fuoHsuE%2F-MIVi4wTmi74l_8ImLBA%2Fliquidity%20pool%2003.png?alt=media\&token=5391d2b9-6137-4027-af77-176accfaca3a)