Initialize your own constant product liquidity pool with DAMM v2. DAMM v2 allows you to optimize transaction fees, an option to set single-side liquidity, the flexibility of concentrating liquidty providing etc.

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Program Address

  • Mainnet-beta: cpamdpZCGKUy5JxQXB4dcpGPiikHawvSWAd6mEn1sGG
  • Devnet: cpamdpZCGKUy5JxQXB4dcpGPiikHawvSWAd6mEn1sGG

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Resources

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Features

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Position NFT

The position state manages unlocked_liquidity + locked_liquidity + vested liquidity.

User can interact with the following flows in the same, single position:

  • Permanently lock part of the liquidity
  • Create multiple vesting schedules
  • Add more liquidity (unlocked liquidity)

The Position NFT is also a transferrable NFT that can be sent to other wallets.

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Farming

For DAMM v2, there is an in-built farming mechanism within the program. This is unlike DAMM v1, where there is a separate farming program.

Each specific pool in DAMM v2 can create farming rewards and the pool has its own unique reward vault. Each reward vault can have a maximum of 2 types of reward tokens.

When the initialize_reward program endpoint is used, a reward_vault for the specific pool is created, and the initiator can specify the reward token (max 2 types) for the reward_vault

Rewards will be shared with all liquidity providers over the farming duration.

Currently, in this beta stage:

  1. The initialize_reward program endpoint can only be initialized by Meteora’s admin
  2. Only a whitelisted funder address can fund rewards into this reward_vault

So for now, projects have to reach out to the Meteora team to create a farm and add rewards. We’re exploring ways to make this process permissionless at a later stage.

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Fee Collection

DAMM v2 pools can collect fees in quote token or output token.

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Quote Token

  • Swap Quote Token to Base Token, then fees are taken from Quote Token before swap.
  • Swap Base Token to Quote Token, then fees are taken from Quote Token after swap.

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Output Token

  • Swap Quote Token to Base Token, then fees are taken from Base Token after swap.
  • Swap Base Token to Quote Token, then fees are taken from Quote Token after swap.

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Min-Max Price

In general, you can set a min-max price range for a balanced pool as DAMM v2 is a constant product AMM that follows a balanced ratio deposit.

If you need to set a min-max price range, as well as implement imbalanced deposits for the pool, you need to use DLMM instead.

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Config Key Parameters

vault_config_key

Type: address
Alpha-vault address that is able to buy from the pool before activation_point.

pool_creator_authority

Type: address
If this address is non-default, then only this address can create a pool with that config key (useful for launchpad scenarios).

pool_fees

Type: object
Includes base fee scheduler, dynamic fee, protocol fee percent, partner fee percent, and referral fee percent configuration.

activation_type

Type: 0 | 1
Determines whether pools are run in slot (0) or timestamp (1).

collect_fee_mode

Type: 0 | 1
Determines whether the pool should collect fees in both tokens (1) or only one token (0).

sqrt_min_price

Type: number
Square root of the minimum price for pools.

sqrt_max_price

Type: number
Square root of the maximum price for pools.