The talented monoid of a Leavitt path algebra

There is a tight relation between the geometry of a directed graph and the algebraic structure of a Leavitt path algebra associated to it. In this note, we show a similar connection between the geometry of the graph and the structure of a certain monoid associated to it. This monoid is isomorphic to the positive cone of the graded K-0-group of the Leavitt path algebra which is naturally equipped with a Z-action. As an example, we show that a graph has a cycle without an exit if and only if the monoid has a periodic element. Consequently a graph has Condition (L) if and only if the group Z acts freely on the monoid. We go on to show that the algebraic structure of Leavitt path algebras (such as simplicity, purely infinite simplicity, or the lattice of ideals) can be described completely via this monoid. Therefore an isomorphism between the monoids (or graded K-0's) of two Leavitt path algebras implies that the algebras have similar algebraic structures. These all bolster the claim that the graded Grothendieck group could be a sought-after complete invariant for the classification of Leavitt path algebras.