MMM

MMM is an open source and secure AMM protocol on Solana. It enables the multi-pool (buy-side, sell-side, two-side) feature, and the extendable allowlist of the pool assets.

Network	Program Address
Devnet	mmm3XBJg5gk8XJxEKBvdgptZz6SgK4tXvn36sodowMc
Mainnet	mmm3XBJg5gk8XJxEKBvdgptZz6SgK4tXvn36sodowMc

Build status

Features

• multi-pool
  • buy-side (e.g. collection offers)
  • sell-side
  • two-side
• expiry on the pool
• extendable asset pool allowlist definition
  • FVCA (first verified creator address)
  • Mint Address (for SFT, or single NFT)
  • MCC Collection Standard
  • Merkle Tree (coming soon)
• designed for faster index via getProgramAccounts or geyser plugin for account changes
• cosign and cosigner annotations
• buyside creator royalty setting
• flexible reinvest options for both buyside and sellside
• multiple bonding curves
  • linear
  • exponential
  • reverse linear (coming soon)
  • reverse exponential (coming soon)
• multiple royalty enforcement standards
  • OCP (open creator protocol)
  • Metaplex MIP-1 (coming soon)
• spl support (coming soon)

Built with

• anchor

Architecture Overview

Overview of the pool accounts

• Owner: owner is the only one who can do the actions like create, update, deposit, or withdraw.
• Cosigner: cosigner is optional.
• Buyer: buyer can buy from the sell-side liquidity of the pool.
• Seller: seller can sell into the the buy-side liquidity of the pool.
• Curve: curve is the bonding curve that moves the spot_price of the pool.
• Allowlist: allowlist is a fixed length array that defines what assets can be deposit or trade in/out of the pool. Currectly it supports a list of options like (FVCA, Mint, MCC, Merkle Tree).
• LP Fee: Liquidity provider fee. When the pool has enough two-side liquidity, the liquidity pool owner can earn the lp fee. Buy-side liquidity needs to have SOL or SPL greater than the spot_price, and sell-side liquidity needs to have at least 1 asset.

Overview

Bonding Curve

Fulfill Buy Side

Fulfill Sell Side

MMM Javascript/Typescript SDK

npm add @coralcube-oss/mmm

State Account

With the state account and IDL, it's useful to build up the getProgramAccounts filter params with the right size/offset.

// seeds = [
//    POOL_PREFIX.as_bytes(),
//    owner.key().as_ref(),
//    pool.uuid.as_ref(),
// ]
pub struct Pool { // 8 bytes anchor discriminator
    pub spot_price: u64,
    pub curve_type: u8,
    pub curve_delta: u64,
    pub reinvest_fulfill_buy: bool,
    pub reinvest_fulfill_sell: bool,
    pub expiry: i64,
    pub lp_fee_bp: u16,
    pub referral: Pubkey,
    pub referral_bp: u16, // deprecated, please use maker_fee_bp and taker_fee_bp in fulfill functions
    pub buyside_creator_royalty_bp: u16,
    pub cosigner_annotation: [u8; 32],
    pub sellside_asset_amount: u64,
    pub lp_fee_earned: u64,
    pub owner: Pubkey,
    pub cosigner: Pubkey,
    pub uuid: Pubkey,
    pub payment_mint: Pubkey,
    pub allowlists: [Allowlist; ALLOWLIST_MAX_LEN],
    pub buyside_payment_amount: u64,
}

// seeds = [
//     SELL_STATE_PREFIX.as_bytes(),
//     pool.key().as_ref(),
//     asset_mint.key().as_ref(),
// ]
pub struct SellState {
    pub pool: Pubkey,
    pub pool_owner: Pubkey,
    pub asset_mint: Pubkey,
    pub asset_amount: u64,
    pub cosigner_annotation: [u8; 32],
}

Build and Test

yarn install
anchor build
anchor test

Security

Audit by Halborn