[friend_and_foe]

What do you mean by "managed as NFTs"? A liquidity pool is a contract where people put their coins in and the contract gives them a percentage ownership of all assets in the contract and they get a small fee off the trades done in it. Are you saying that the proof of ownership is a non fungible token? That seems like a small technical detail, it's not the token that has value, it's the assets in the pool, you could easily do it with fungible tokens or with simply a record of ownership in the contract.