diff --git a/Cargo.lock b/Cargo.lock
index 00566bf98..4be11dafe 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -50,7 +50,7 @@ dependencies = [
 
 [[package]]
 name = "astroport"
-version = "3.3.0"
+version = "3.3.1"
 dependencies = [
  "astroport-circular-buffer",
  "cosmwasm-schema",
@@ -422,7 +422,7 @@ dependencies = [
 
 [[package]]
 name = "astroport-pair-concentrated"
-version = "2.0.4"
+version = "2.0.5"
 dependencies = [
  "anyhow",
  "astroport",
@@ -445,7 +445,7 @@ dependencies = [
 
 [[package]]
 name = "astroport-pair-concentrated-injective"
-version = "2.0.4"
+version = "2.0.5"
 dependencies = [
  "anyhow",
  "astroport",
diff --git a/contracts/pair_concentrated/Cargo.toml b/contracts/pair_concentrated/Cargo.toml
index 4746f3fdd..1d4c0991d 100644
--- a/contracts/pair_concentrated/Cargo.toml
+++ b/contracts/pair_concentrated/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "astroport-pair-concentrated"
-version = "2.0.4"
+version = "2.0.5"
 authors = ["Astroport"]
 edition = "2021"
 description = "The Astroport concentrated liquidity pair"
diff --git a/contracts/pair_concentrated/src/contract.rs b/contracts/pair_concentrated/src/contract.rs
index 484c455d6..b4b986d6b 100644
--- a/contracts/pair_concentrated/src/contract.rs
+++ b/contracts/pair_concentrated/src/contract.rs
@@ -38,9 +38,8 @@ use crate::state::{
 };
 use crate::utils::{
     accumulate_swap_sizes, assert_max_spread, assert_slippage_tolerance, before_swap_check,
-    calc_last_prices, calc_provide_fee, check_asset_infos, check_assets, check_cw20_in_pool,
-    check_pair_registered, compute_swap, get_share_in_assets, mint_liquidity_token_message,
-    query_pools,
+    calc_provide_fee, check_asset_infos, check_assets, check_cw20_in_pool, check_pair_registered,
+    compute_swap, get_share_in_assets, mint_liquidity_token_message, query_pools,
 };
 
 /// Contract name that is used for migration.
@@ -398,7 +397,7 @@ pub fn provide_liquidity(
                 .find_position(|pool| pool.equal(&assets[0].info))
                 .ok_or_else(|| ContractError::InvalidAsset(assets[0].info.to_string()))?;
             assets.push(Asset {
-                info: config.pair_info.asset_infos[1 - given_ind].clone(),
+                info: config.pair_info.asset_infos[1 ^ given_ind].clone(),
                 amount: Uint128::zero(),
             });
         }
@@ -471,7 +470,6 @@ pub fn provide_liquidity(
 
     let amp_gamma = config.pool_state.get_amp_gamma(&env);
     let new_d = calc_d(&new_xp, &amp_gamma)?;
-    let mut old_price = config.pool_state.price_state.last_price;
 
     let share = if total_share.is_zero() {
         let xcp = get_xcp(new_d, config.pool_state.price_state.price_scale);
@@ -499,7 +497,6 @@ pub fn provide_liquidity(
         mint_amount
     } else {
         let mut old_xp = pools.iter().map(|a| a.amount).collect_vec();
-        old_price = calc_last_prices(&old_xp, &config, &env)?;
         old_xp[1] *= config.pool_state.price_state.price_scale;
         let old_d = calc_d(&old_xp, &amp_gamma)?;
         let share = (total_share * new_d / old_d).saturating_sub(total_share);
@@ -521,18 +518,18 @@ pub fn provide_liquidity(
         deposits[1].diff(balanced_share[1]),
     ];
 
-    let tmp_xp = vec![
-        new_xp[0],
-        new_xp[1] / config.pool_state.price_state.price_scale,
-    ];
-    let new_price = calc_last_prices(&tmp_xp, &config, &env)?;
+    let mut slippage = Decimal256::zero();
 
-    // if assets_diff[1] is zero then deposits are balanced thus no need to update price
+    // if assets_diff[1] is zero then deposits are balanced thus no need to update price and check slippage
     if !assets_diff[1].is_zero() {
-        let last_price = assets_diff[0] / assets_diff[1];
-
-        assert_slippage_tolerance(old_price, new_price, slippage_tolerance)?;
+        slippage = assert_slippage_tolerance(
+            &deposits,
+            share,
+            &config.pool_state.price_state,
+            slippage_tolerance,
+        )?;
 
+        let last_price = assets_diff[0] / assets_diff[1];
         config.pool_state.update_price(
             &config.pool_params,
             &env,
@@ -578,6 +575,7 @@ pub fn provide_liquidity(
         attr("receiver", receiver),
         attr("assets", format!("{}, {}", &assets[0], &assets[1])),
         attr("share", share_uint128),
+        attr("slippage", slippage.to_string()),
     ];
 
     Ok(Response::new().add_messages(messages).add_attributes(attrs))
@@ -894,7 +892,7 @@ pub fn migrate(deps: DepsMut, _env: Env, _msg: MigrateMsg) -> Result<Response, C
             "1.2.4" => {
                 BufferManager::init(deps.storage, OBSERVATIONS, OBSERVATIONS_SIZE)?;
             }
-            "2.0.3" => {}
+            "2.0.3" | "2.0.4" => {}
             _ => return Err(ContractError::MigrationError {}),
         },
         _ => return Err(ContractError::MigrationError {}),
diff --git a/contracts/pair_concentrated/src/utils.rs b/contracts/pair_concentrated/src/utils.rs
index f69d6bf53..4074a5b23 100644
--- a/contracts/pair_concentrated/src/utils.rs
+++ b/contracts/pair_concentrated/src/utils.rs
@@ -13,10 +13,10 @@ use astroport_circular_buffer::error::BufferResult;
 use astroport_circular_buffer::BufferManager;
 use astroport_factory::state::pair_key;
 
-use crate::consts::{DEFAULT_SLIPPAGE, MAX_ALLOWED_SLIPPAGE, N, OFFER_PERCENT};
+use crate::consts::{DEFAULT_SLIPPAGE, MAX_ALLOWED_SLIPPAGE, N, OFFER_PERCENT, TWO};
 use crate::error::ContractError;
 use crate::math::{calc_d, calc_y};
-use crate::state::{Config, PoolParams, Precisions, OBSERVATIONS};
+use crate::state::{Config, PoolParams, Precisions, PriceState, OBSERVATIONS};
 
 /// Helper function to check the given asset infos are valid.
 pub(crate) fn check_asset_infos(
@@ -373,12 +373,13 @@ pub fn calc_provide_fee(
     deposits[0].diff(avg) * params.fee(xp) / sum
 }
 
-/// This is an internal function that enforces slippage tolerance for swaps.
+/// This is an internal function that enforces slippage tolerance for provides. Returns actual slippage.
 pub fn assert_slippage_tolerance(
-    old_price: Decimal256,
-    new_price: Decimal256,
+    deposits: &[Decimal256],
+    actual_share: Decimal256,
+    price_state: &PriceState,
     slippage_tolerance: Option<Decimal>,
-) -> Result<(), ContractError> {
+) -> Result<Decimal256, ContractError> {
     let slippage_tolerance = slippage_tolerance
         .map(Into::into)
         .unwrap_or(DEFAULT_SLIPPAGE);
@@ -386,12 +387,17 @@ pub fn assert_slippage_tolerance(
         return Err(ContractError::AllowedSpreadAssertion {});
     }
 
-    // Ensure price was not changed more than the slippage tolerance allows
-    if Decimal256::one().diff(new_price / old_price) > slippage_tolerance {
+    let deposit_value = deposits[0] + deposits[1] * price_state.price_scale;
+    let lp_expected = (deposit_value / TWO * deposit_value / (TWO * price_state.price_scale))
+        .sqrt()
+        / price_state.xcp_profit_real;
+    let slippage = lp_expected.saturating_sub(actual_share) / lp_expected;
+
+    if slippage > slippage_tolerance {
         return Err(ContractError::MaxSpreadAssertion {});
     }
 
-    Ok(())
+    Ok(slippage)
 }
 
 // Checks whether the pair is registered in the factory or not.
@@ -481,12 +487,14 @@ pub fn accumulate_swap_sizes(
 
 #[cfg(test)]
 mod tests {
-    use super::*;
-    use cosmwasm_std::testing::{mock_env, MockStorage};
     use std::error::Error;
     use std::fmt::Display;
     use std::str::FromStr;
 
+    use cosmwasm_std::testing::{mock_env, MockStorage};
+
+    use super::*;
+
     pub fn f64_to_dec<T>(val: f64) -> T
     where
         T: FromStr,
diff --git a/contracts/pair_concentrated/tests/pair_concentrated_integration.rs b/contracts/pair_concentrated/tests/pair_concentrated_integration.rs
index c05dbb8a8..e331911f4 100644
--- a/contracts/pair_concentrated/tests/pair_concentrated_integration.rs
+++ b/contracts/pair_concentrated/tests/pair_concentrated_integration.rs
@@ -1475,3 +1475,67 @@ fn provide_withdraw_provide() {
         .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.5)))
         .unwrap();
 }
+
+#[test]
+fn provide_withdraw_slippage() {
+    let owner = Addr::unchecked("owner");
+
+    let test_coins = vec![TestCoin::native("uusd"), TestCoin::native("uluna")];
+
+    let params = ConcentratedPoolParams {
+        amp: f64_to_dec(10f64),
+        gamma: f64_to_dec(0.000145),
+        mid_fee: f64_to_dec(0.0026),
+        out_fee: f64_to_dec(0.0045),
+        fee_gamma: f64_to_dec(0.00023),
+        repeg_profit_threshold: f64_to_dec(0.000002),
+        min_price_scale_delta: f64_to_dec(0.000146),
+        price_scale: Decimal::from_ratio(10u8, 1u8),
+        ma_half_time: 600,
+        track_asset_balances: None,
+    };
+
+    let mut helper = Helper::new(&owner, test_coins.clone(), params).unwrap();
+
+    // Fully balanced provide
+    let assets = vec![
+        helper.assets[&test_coins[0]].with_balance(10_000000u128),
+        helper.assets[&test_coins[1]].with_balance(1_000000u128),
+    ];
+    helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.02)))
+        .unwrap();
+
+    // Imbalanced provide. Slippage is more than 2% while we enforce 2% max slippage
+    let assets = vec![
+        helper.assets[&test_coins[0]].with_balance(5_000000u128),
+        helper.assets[&test_coins[1]].with_balance(1_000000u128),
+    ];
+    let err = helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.02)))
+        .unwrap_err();
+    assert_eq!(
+        ContractError::MaxSpreadAssertion {},
+        err.downcast().unwrap(),
+    );
+    // With 3% slippage it should work
+    helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.03)))
+        .unwrap();
+
+    // Provide with a huge imbalance. Slippage is ~42.2%
+    let assets = vec![
+        helper.assets[&test_coins[0]].with_balance(1000_000000u128),
+        helper.assets[&test_coins[1]].with_balance(1000_000000u128),
+    ];
+    let err = helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.02)))
+        .unwrap_err();
+    assert_eq!(
+        ContractError::MaxSpreadAssertion {},
+        err.downcast().unwrap(),
+    );
+    helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.5)))
+        .unwrap();
+}
diff --git a/contracts/pair_concentrated_inj/Cargo.toml b/contracts/pair_concentrated_inj/Cargo.toml
index a785eea4c..226f4bbdb 100644
--- a/contracts/pair_concentrated_inj/Cargo.toml
+++ b/contracts/pair_concentrated_inj/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "astroport-pair-concentrated-injective"
-version = "2.0.4"
+version = "2.0.5"
 authors = ["Astroport"]
 edition = "2021"
 description = "The Astroport concentrated liquidity pair which supports Injective orderbook integration"
diff --git a/contracts/pair_concentrated_inj/src/contract.rs b/contracts/pair_concentrated_inj/src/contract.rs
index 4ff7f17be..eec92932f 100644
--- a/contracts/pair_concentrated_inj/src/contract.rs
+++ b/contracts/pair_concentrated_inj/src/contract.rs
@@ -41,9 +41,8 @@ use crate::state::{
 };
 use crate::utils::{
     accumulate_swap_sizes, assert_max_spread, assert_slippage_tolerance, before_swap_check,
-    calc_last_prices, calc_provide_fee, check_asset_infos, check_assets, check_pair_registered,
-    compute_swap, get_share_in_assets, mint_liquidity_token_message, query_contract_balances,
-    query_pools,
+    calc_provide_fee, check_asset_infos, check_assets, check_pair_registered, compute_swap,
+    get_share_in_assets, mint_liquidity_token_message, query_contract_balances, query_pools,
 };
 
 /// Contract name that is used for migration.
@@ -479,7 +478,6 @@ where
 
     let amp_gamma = config.pool_state.get_amp_gamma(&env);
     let new_d = calc_d(&new_xp, &amp_gamma)?;
-    let mut old_price = config.pool_state.price_state.last_price;
 
     let share = if total_share.is_zero() {
         let xcp = get_xcp(new_d, config.pool_state.price_state.price_scale);
@@ -507,7 +505,6 @@ where
         mint_amount
     } else {
         let mut old_xp = xs.clone();
-        old_price = calc_last_prices(&old_xp, &config, &env)?;
         old_xp[1] *= config.pool_state.price_state.price_scale;
         let old_d = calc_d(&old_xp, &amp_gamma)?;
         let share = (total_share * new_d / old_d).saturating_sub(total_share);
@@ -529,18 +526,18 @@ where
         deposits[1].diff(balanced_share[1]),
     ];
 
+    let mut slippage = Decimal256::zero();
+
     // if assets_diff[1] is zero then deposits are balanced thus no need to update price
     if !assets_diff[1].is_zero() {
-        let last_price = assets_diff[0] / assets_diff[1];
-
-        let tmp_xp = vec![
-            new_xp[0],
-            new_xp[1] / config.pool_state.price_state.price_scale,
-        ];
-        let new_price = calc_last_prices(&tmp_xp, &config, &env)?;
-
-        assert_slippage_tolerance(old_price, new_price, slippage_tolerance)?;
+        slippage = assert_slippage_tolerance(
+            &deposits,
+            share,
+            &config.pool_state.price_state,
+            slippage_tolerance,
+        )?;
 
+        let last_price = assets_diff[0] / assets_diff[1];
         config.pool_state.update_price(
             &config.pool_params,
             &env,
@@ -574,6 +571,7 @@ where
         attr("receiver", receiver),
         attr("assets", format!("{}, {}", &assets[0], &assets[1])),
         attr("share", share_uint128),
+        attr("slippage", slippage.to_string()),
     ];
 
     Ok(Response::new().add_messages(messages).add_attributes(attrs))
diff --git a/contracts/pair_concentrated_inj/src/migrate.rs b/contracts/pair_concentrated_inj/src/migrate.rs
index 7e3b8695d..2d2710b16 100644
--- a/contracts/pair_concentrated_inj/src/migrate.rs
+++ b/contracts/pair_concentrated_inj/src/migrate.rs
@@ -13,7 +13,7 @@ use astroport_pair_concentrated::state::Config as CLConfig;
 use crate::state::{AmpGamma, Config, PoolParams, PoolState, PriceState, CONFIG};
 
 const MIGRATE_FROM: &str = "astroport-pair-concentrated";
-const MIGRATION_VERSION: &str = "2.0.4";
+const MIGRATION_VERSION: &str = "2.0.5";
 
 /// Manages the contract migration.
 #[cfg_attr(not(feature = "library"), entry_point)]
@@ -57,7 +57,7 @@ pub fn migrate(
             let contract_info = cw2::get_contract_version(deps.storage)?;
             match contract_info.contract.as_str() {
                 CONTRACT_NAME => match contract_info.version.as_str() {
-                    "2.0.3" => {}
+                    "2.0.3" | "2.0.4" => {}
                     _ => {
                         return Err(StdError::generic_err(format!(
                             "Can't migrate from {} {}",
diff --git a/contracts/pair_concentrated_inj/src/utils.rs b/contracts/pair_concentrated_inj/src/utils.rs
index b153401e8..606304117 100644
--- a/contracts/pair_concentrated_inj/src/utils.rs
+++ b/contracts/pair_concentrated_inj/src/utils.rs
@@ -14,12 +14,12 @@ use astroport_circular_buffer::error::BufferResult;
 use astroport_circular_buffer::BufferManager;
 use astroport_factory::state::pair_key;
 
-use crate::consts::{DEFAULT_SLIPPAGE, MAX_ALLOWED_SLIPPAGE, N, OFFER_PERCENT};
+use crate::consts::{DEFAULT_SLIPPAGE, MAX_ALLOWED_SLIPPAGE, N, OFFER_PERCENT, TWO};
 use crate::error::ContractError;
 use crate::math::{calc_d, calc_y};
 use crate::orderbook::state::OrderbookState;
 use crate::orderbook::utils::get_subaccount_balances_dec;
-use crate::state::{Config, PoolParams, Precisions, OBSERVATIONS};
+use crate::state::{Config, PoolParams, Precisions, PriceState, OBSERVATIONS};
 
 /// Helper function to check the given asset infos are valid.
 pub(crate) fn check_asset_infos(asset_infos: &[AssetInfo]) -> Result<(), ContractError> {
@@ -475,12 +475,13 @@ pub fn calc_provide_fee(
     deviation * params.fee(xp) / (sum * N)
 }
 
-/// This is an internal function that enforces slippage tolerance for swaps.
+/// This is an internal function that enforces slippage tolerance for provides. Returns actual slippage.
 pub fn assert_slippage_tolerance(
-    old_price: Decimal256,
-    new_price: Decimal256,
+    deposits: &[Decimal256],
+    actual_share: Decimal256,
+    price_state: &PriceState,
     slippage_tolerance: Option<Decimal>,
-) -> Result<(), ContractError> {
+) -> Result<Decimal256, ContractError> {
     let slippage_tolerance = slippage_tolerance
         .map(Into::into)
         .unwrap_or(DEFAULT_SLIPPAGE);
@@ -488,12 +489,17 @@ pub fn assert_slippage_tolerance(
         return Err(ContractError::AllowedSpreadAssertion {});
     }
 
-    // Ensure price was not changed more than the slippage tolerance allows
-    if Decimal256::one().diff(new_price / old_price) > slippage_tolerance {
+    let deposit_value = deposits[0] + deposits[1] * price_state.price_scale;
+    let lp_expected = (deposit_value / TWO * deposit_value / (TWO * price_state.price_scale))
+        .sqrt()
+        / price_state.xcp_profit_real;
+    let slippage = lp_expected.saturating_sub(actual_share) / lp_expected;
+
+    if slippage > slippage_tolerance {
         return Err(ContractError::MaxSpreadAssertion {});
     }
 
-    Ok(())
+    Ok(slippage)
 }
 
 /// Checks whether the pair is registered in the factory or not.
diff --git a/contracts/pair_concentrated_inj/tests/pair_inj_concentrated_integration.rs b/contracts/pair_concentrated_inj/tests/pair_inj_concentrated_integration.rs
index 740fa9b70..62d32b472 100644
--- a/contracts/pair_concentrated_inj/tests/pair_inj_concentrated_integration.rs
+++ b/contracts/pair_concentrated_inj/tests/pair_inj_concentrated_integration.rs
@@ -2028,3 +2028,67 @@ fn provide_withdraw_provide() {
         .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.5)))
         .unwrap();
 }
+
+#[test]
+fn provide_withdraw_slippage() {
+    let owner = Addr::unchecked("owner");
+
+    let test_coins = vec![TestCoin::native("uusd"), TestCoin::native("uluna")];
+
+    let params = ConcentratedPoolParams {
+        amp: f64_to_dec(10f64),
+        gamma: f64_to_dec(0.000145),
+        mid_fee: f64_to_dec(0.0026),
+        out_fee: f64_to_dec(0.0045),
+        fee_gamma: f64_to_dec(0.00023),
+        repeg_profit_threshold: f64_to_dec(0.000002),
+        min_price_scale_delta: f64_to_dec(0.000146),
+        price_scale: Decimal::from_ratio(10u8, 1u8),
+        ma_half_time: 600,
+        track_asset_balances: None,
+    };
+
+    let mut helper = Helper::new(&owner, test_coins.clone(), params, true).unwrap();
+
+    // Fully balanced provide
+    let assets = vec![
+        helper.assets[&test_coins[0]].with_balance(10_000000u128),
+        helper.assets[&test_coins[1]].with_balance(1_000000u128),
+    ];
+    helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.02)))
+        .unwrap();
+
+    // Imbalanced provide. Slippage is more than 2% while we enforce 2% max slippage
+    let assets = vec![
+        helper.assets[&test_coins[0]].with_balance(5_000000u128),
+        helper.assets[&test_coins[1]].with_balance(1_000000u128),
+    ];
+    let err = helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.02)))
+        .unwrap_err();
+    assert_eq!(
+        ContractError::MaxSpreadAssertion {},
+        err.downcast().unwrap()
+    );
+    // With 3% slippage it should work
+    helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.03)))
+        .unwrap();
+
+    // Provide with a huge imbalance. Slippage is ~42.2%
+    let assets = vec![
+        helper.assets[&test_coins[0]].with_balance(1000_000000u128),
+        helper.assets[&test_coins[1]].with_balance(1000_000000u128),
+    ];
+    let err = helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.02)))
+        .unwrap_err();
+    assert_eq!(
+        ContractError::MaxSpreadAssertion {},
+        err.downcast().unwrap(),
+    );
+    helper
+        .provide_liquidity_with_slip_tolerance(&owner, &assets, Some(f64_to_dec(0.5)))
+        .unwrap();
+}
diff --git a/packages/astroport/Cargo.toml b/packages/astroport/Cargo.toml
index 691e2c458..ea94cb272 100644
--- a/packages/astroport/Cargo.toml
+++ b/packages/astroport/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "astroport"
-version = "3.3.0"
+version = "3.3.1"
 authors = ["Astroport"]
 edition = "2021"
 description = "Common Astroport types, queriers and other utils"