Liquidity Pools are part of the bitshares-core 5.0, which are providing a fully automated and autonomous onchain liquidity.
On BitShares Blockchain, Liquidity Pool is an asset that can be created by any user in order to automate market making for a pair of two different assets; one of those assets might be BTS while the other can be any other users issued assets.
Creator of the asset “liquidity pool” (Asset Owner) cannot issue from “liquidity pool” asset to any user directly; Blockchain will be issuing “liquidity pool” assets to associated users who had deposited into the “liquidity pool”.
First “liquidity pool” deposit which must be done by “liquidity pool” creator would determine the starting price of “liquidity pool”, its the price of next exchange between both of assets within liquidity pool; next price of liquidity pool would be changing automatically.
Any user who has balance from both of assets of the liquidity pool can deposit in liquidity pool in regards to liquidity pool’s price, users on BitShares can exchange with the liquidity pool as if its a market, to sell/buy and can stake their liquidity as deposit and withdraw them including a “shared revenue” of the liquidity pool, assets in liquidity pool doesn’t belong to “liquidity pool” creator; hence “liquidity pool” creator can delete liquidity pool ONLY in case its empty and can only decide taker/maker % while creating it but cannot change them after creating the liquidity pool.
For more information refer to https://docs.bitshares.build/docs/liquidity-pools/using-liquidity-pools/#where-to-find-liquidity-pools