An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.
Empieza por la explicación más corta y útil antes de profundizar.
An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.
Usa primero la analogía corta para razonar mejor sobre el término cuando aparezca en código, docs o prompts.
Piensa en esto como una mecánica de mercado usada para poner precio, rutear o mover capital en apps de liquidez.
Ubica el término dentro de la capa de Solana en la que vive para razonar mejor sobre él.
AMMs, routing, liquidez, préstamos e infraestructura de trading.
Convierte el término de vocabulario en algo operacional para producto e ingeniería.
Este término desbloquea conceptos adyacentes rápido, así que funciona mejor cuando lo tratas como un punto de conexión y no como una definición aislada.
Usa este bloque compacto cuando quieras dar contexto sólido a un agente o asistente sin volcar toda la página.
CLMM (Concentrated Liquidity Market Maker) (clmm) Categoría: DeFi Definición: An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana. Aliases: CLMM, Concentrated Liquidity Relacionados: AMM (Creador de Mercado Automatizado), Tick, Pool de Liquidez
Usa contexto del glosario, relaciones entre términos, modelos mentales y builder paths para recibir respuestas estructuradas en vez de output genérico.
Opcional: pega código Anchor, Solana o Rust para que el Copilot mapee primitivas de vuelta al glosario.
El Copilot responderá usando el término actual, conceptos relacionados, modelos mentales y el grafo alrededor del glosario.
Estas ramas muestran qué conceptos toca este término directamente y qué existe una capa más allá de ellos.
A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
A PoH entry with zero transactions that advances the clock. There are 64 ticks per slot by default, each representing a fixed number of SHA-256 hash iterations. Ticks establish the passage of time even when no transactions are being processed, maintaining the PoH chain continuity.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
Estos son los siguientes conceptos que vale la pena abrir si quieres que este término tenga más sentido dentro de un workflow real de Solana.
Estas entradas son fáciles de mezclar cuando lees rápido, haces prompting a un LLM o estás entrando en una nueva capa de Solana.
A concentrated liquidity AMM design pioneered by Meteora on Solana that organizes liquidity into discrete price bins rather than continuous tick ranges. Each bin holds liquidity at a single price, and trades move sequentially through bins. DLMM pools feature dynamic fees that adjust based on volatility, and LPs can choose from preset distribution shapes (spot, curve, bid-ask) to match their market outlook.
The simplest and most widely used AMM model, based on the formula x * y = k where x and y are token reserves and k is an invariant. Every swap changes the ratio of reserves while keeping the product constant, producing a hyperbolic price curve. CPMMs provide liquidity across the full price range (0 to infinity) but are less capital-efficient than concentrated liquidity designs. Raydium's standard pools use this model.
The total amount of liquidity available at various price levels in a market or pool, indicating how much can be traded before causing significant price impact. Deep liquidity means large trades execute with minimal slippage; thin liquidity means even small trades move the price. Liquidity depth charts visualize available buy and sell liquidity across price ranges and are critical for assessing trade execution quality.
Las entradas del glosario se vuelven útiles cuando están conectadas. Estos enlaces son el camino más corto hacia ideas adyacentes.
A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
A PoH entry with zero transactions that advances the clock. There are 64 ticks per slot by default, each representing a fixed number of SHA-256 hash iterations. Ticks establish the passage of time even when no transactions are being processed, maintaining the PoH chain continuity.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
Estas entradas viven junto al término actual y ayudan a que la página se sienta parte de un grafo de conocimiento más amplio en lugar de un callejón sin salida.
A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
A token issued to liquidity providers representing their proportional share of a pool's reserves and accrued fees. LP tokens can be burned to withdraw the underlying assets. The value of LP tokens changes as the pool's token ratios shift and fees accumulate. LP tokens are often stakeable in yield farming programs for additional rewards.
The exchange of one token for another through a DEX, either via an AMM pool or an order book. The user specifies an input token/amount and receives output tokens at the current market rate minus slippage and fees. On Solana, swaps settle in a single transaction (~400ms) with fees typically 0.01-0.3% per trade.