Documentation Index
Fetch the complete documentation index at: https://docs.meteora.ag/llms.txt
Use this file to discover all available pages before exploring further.
This page summarizes the DAMM v1 behavior that is enforced by the on-chain AMM program. Use it when you need exact product limits rather than a high-level explanation.
DAMM v1 mainnet program: Eo7WjKq67rjJQSZxS6z3YkapzY3eMj6Xy8X5EQVn5UaB.
Pool account model
A DAMM v1 pool is a two-token SPL Token pool. The pool account stores:
| Field group | What it controls |
|---|
| LP mint | The fungible LP token mint for pool ownership |
| Token mints | token_a_mint and token_b_mint |
| Vault accounts | One Dynamic Vault for token A and one Dynamic Vault for token B |
| Vault LP accounts | The pool’s vault-share accounts for both token-side vaults |
| Protocol fee accounts | Token A and token B accounts that receive protocol-side fees |
| Pool fees | Trade fee and protocol-trade-fee fractions |
| Curve type | Constant-product or stable-swap parameters |
| Pool type | Permissioned or permissionless |
| Bootstrapping | Optional activation point, activation type, and whitelisted vault |
| Partner info | Optional partner authority and partner share of protocol-side fees |
| Lock accounting | Total locked LP token amount |
Supported curves
DAMM v1 supports two curve families:
| Curve | Source behavior |
|---|
| Constant product | Uses x * y = k; pool invariant D is represented as sqrt(x * y) for LP minting and virtual price. |
| Stable swap | Uses Saber StableSwap math with token multipliers for decimal normalization, optional depeg handling, and an amplification coefficient. |
Permissionless constraints
Permissionless pool creation is intentionally constrained:
| Item | Limit |
|---|
| Stable AMP | Permissionless stable pools must use amp = 100. |
| Maximum AMP | Stable-pool AMP is capped at 10000. |
| AMP updates | Permissioned stable-pool AMP updates must wait at least 600 seconds between changes. |
| Stable depeg | Permissionless stable pools cannot use depeg mode. |
| Stable token multipliers | Must match the token mint decimals. |
| Initial stable liquidity | Initial amounts must be equal after token normalization and depeg adjustment. |
| Initial deposits | Token A and token B amounts must both be non-zero. |
Fee settings
DAMM v1 fee fractions use a denominator of 100000.
| Pool type | Default trade fee | Default protocol share |
|---|
| Constant product | 250 / 100000 = 0.25% | 20000 / 100000 = 20% of the trade fee |
| Stable swap | 10 / 100000 = 0.01% | 0% |
Fee tiers and updates
Permissionless fee-tier creation only allows specific trade fee basis points:
| Curve | Allowed trade fee bps |
|---|
| Constant product | 25, 100, 400, 600 bps |
| Stable swap | 1, 4, 10, 100 bps |
| Item | Limit |
|---|
| Trade fee range | 0.25% to 15% |
| Step size | Must be divisible by 0.05% |
| Protocol share | Uses the constant-product default protocol share |
0.25%. The admin path can set fees and partner fee settings after validating fee fractions and partner limits.
Host and partner fees
If a swap includes a host fee account in the expected remaining-account position, the program routes 20% of the protocol fee to that host account and leaves the rest as protocol fee.
Partner fees are tracked separately in pool state. When a partner is configured, the partner can accrue up to 50% of protocol-side fees. Partner accounting only applies to protocol fees that remain after host fee routing.
Depeg-aware LST support
Depeg mode exists only on stable pools. The program supports:
| Depeg type | Source of virtual price |
|---|
| Marinade | mSOL state account |
| Lido/Solido | stSOL state account |
| SPL stake pool | SPL stake pool account |
1_000_000 and token B balances by the cached base virtual price before stable-swap calculations.
The cached base virtual price is refreshed only when more than 10 minutes have passed since the previous cache update. SPL stake-pool depeg pools store the stake account in pool state and validate the same account on later updates.
Activation rules
Some permissionless constant-product pools can be created with an activation point. Activation can be based on either:
| Activation type | Meaning |
|---|
0 | Slot-based activation |
1 | Timestamp-based activation |
| Item | Slot mode | Timestamp mode |
|---|
| Buffer | 9000 slots | 3600 seconds |
| Max activation duration | 6,696,000 slots | 2,678,400 seconds |
| Last-join buffer | About 5 minutes | 5 minutes |
Liquidity operations
| Operation | Source-backed behavior |
|---|
| Balanced add | Requires pool enabled; mints a requested LP token amount and computes max token A/B needed. |
| Imbalanced add | Requires pool enabled; implemented by stable-swap curve math. Constant-product curves return unsupported. |
| Balanced remove | Can run even when the pool is disabled, but activation gates can still apply. |
| Single-sided remove | Requires pool enabled and stable-swap support; protocol trading fee is not charged on this operation. |
| Bootstrap liquidity | Can initialize a depleted pool when LP supply is zero and both token amounts are non-zero. |
Liquidity locks
Liquidity locks escrow DAMM v1 LP tokens and increase total_locked_lp on the pool. The underlying assets remain in the AMM and its connected vaults.
For constant-product pools, the lock escrow can accrue claimable fee value when virtual price increases. Claiming those fees burns a portion of escrowed LP tokens and withdraws the corresponding underlying token amounts. The claim_fee path rejects non-constant-product pools.
Locks restrict control of the LP tokens; they do not remove price risk, vault risk, or smart-contract risk.
