A liquidity protocol on Solana (rebranded from Mercurial Finance) that introduced the Dynamic Liquidity Market Maker (DLMM) and Dynamic AMM, which automatically adjust fees and liquidity distribution based on real-time market activity. Meteora became a top-3 DEX by volume in 2025 driven by high-profile token launches using its concentrated liquidity pools.
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A liquidity protocol on Solana (rebranded from Mercurial Finance) that introduced the Dynamic Liquidity Market Maker (DLMM) and Dynamic AMM, which automatically adjust fees and liquidity distribution based on real-time market activity. Meteora became a top-3 DEX by volume in 2025 driven by high-profile token launches using its concentrated liquidity pools.
Use primeiro a analogia curta para raciocinar melhor sobre o termo quando ele aparecer em código, docs ou prompts.
Pense nisso como uma mecânica de mercado usada para precificar, rotear ou mover capital em apps de liquidez.
Coloque o termo dentro da camada de Solana em que ele vive para raciocinar melhor sobre ele.
AMMs, roteamento, liquidez, empréstimos e infraestrutura de trading.
Transforme o termo de vocabulário em algo operacional para produto e engenharia.
Este termo destrava conceitos adjacentes rapidamente, então funciona melhor quando você o trata como um ponto de conexão, não como definição isolada.
Use este bloco compacto quando quiser dar contexto aterrado para um agente ou assistente sem despejar a página inteira.
Meteora (meteora) Categoria: DeFi Definição: A liquidity protocol on Solana (rebranded from Mercurial Finance) that introduced the Dynamic Liquidity Market Maker (DLMM) and Dynamic AMM, which automatically adjust fees and liquidity distribution based on real-time market activity. Meteora became a top-3 DEX by volume in 2025 driven by high-profile token launches using its concentrated liquidity pools. Aliases: Meteora DLMM Relacionados: CLMM (Concentrated Liquidity Market Maker), Pool de Liquidez, DEX (Exchange Descentralizada)
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O Copilot vai responder usando o termo atual, conceitos relacionados, modelos mentais e o grafo ao redor do glossário.
Esses ramos mostram quais conceitos esse termo toca diretamente e o que existe uma camada além deles.
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.
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 protocol for trading tokens directly on-chain without a centralized intermediary. Solana DEXs use either AMM pools (Raydium, Orca, Meteora) or on-chain order books (Phoenix, OpenBook). DEXs are composable—aggregators like Jupiter route through multiple DEXs for optimal pricing.
Estes são os próximos conceitos que valem abrir se você quiser que este termo faça mais sentido dentro de um workflow real de Solana.
Essas entradas são fáceis de misturar quando você lê rápido, faz prompting em um LLM ou está entrando em uma nova camada 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 collateral deposited to maintain a leveraged position. Initial margin is the minimum to open a position; maintenance margin is the minimum to keep it open. If the margin ratio drops below maintenance due to unrealized losses, the position faces liquidation. Margin can be cross (shared across positions) or isolated (per-position).
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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.
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 protocol for trading tokens directly on-chain without a centralized intermediary. Solana DEXs use either AMM pools (Raydium, Orca, Meteora) or on-chain order books (Phoenix, OpenBook). DEXs are composable—aggregators like Jupiter route through multiple DEXs for optimal pricing.
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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.
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.
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.