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Solana Stablecoin AMM DEX

Anchor Solana Rust Raydium-Inspired Concentrated-Liquidity

A production-grade Solana smart contract for a Raydium-style concentrated liquidity AMM DEX optimized for stablecoins. This implementation provides efficient swaps with minimal slippage for stablecoin pairs (e.g., USDC/USDT), liquidity provision in price ranges, dynamic fees, and comprehensive position management.

Overview

This project implements a complete concentrated liquidity AMM protocol inspired by Raydium's V3-style pools, specifically optimized for stablecoin trading. It supports:

  • Concentrated Liquidity Pools: Permissionless creation of pools for stablecoin pairs with configurable fee tiers
  • Range-Based Positions: Users add/remove liquidity in specific price ranges (ticks) represented as positions
  • Efficient Swaps: Single-sided or exact-in/out swaps across ticks with slippage protection
  • Fee Collection: Automatic fee collection and distribution to liquidity providers
  • Stablecoin Optimizations: Hybrid constant product + stable curve math to minimize impermanent loss and slippage

Features

Core Functionality

  • ✅ Permissionless Pool Creation: Create pools for any token pair with configurable fee tiers
  • ✅ Concentrated Liquidity: Add liquidity in specific price ranges (tick-based)
  • ✅ Efficient Swaps: Execute swaps with minimal slippage using concentrated liquidity
  • ✅ Fee Tiers: Multiple fee tiers optimized for stablecoins (0.01%, 0.05%, 0.1%, 0.3%, 1.0%)
  • ✅ Tick Spacing: Configurable tick spacing (default: 1 for stablecoins)
  • ✅ Fee Collection: Automatic fee accrual and claimable rewards for LPs

Stablecoin Optimizations

  • ✅ Tight Tick Spacing: Default tick spacing of 1 for minimal price granularity
  • ✅ Low Fee Tiers: Optimized fee tiers (0.01-0.05%) for high-volume stablecoin trading
  • ✅ Hybrid Math: Combination of constant product and stable curve formulas
  • ✅ Slippage Protection: Built-in slippage protection for all swaps

Admin & Security

  • ✅ Pause Functionality: Emergency pause mechanism for protocol security
  • ✅ Protocol Fees: Configurable protocol fee (default: 10% of trading fees)
  • ✅ Access Control: Admin-only functions for critical operations
  • ✅ Event Emission: Comprehensive event logging for indexers and analytics

Account Structure

┌─────────────────────────────────────────────────────────────┐
│                  GlobalConfig (PDA)                          │
│  - Admin authority                                           │
│  - Pause state                                               │
│  - Protocol fee recipient                                    │
└─────────────────────────────────────────────────────────────┘
                            │
                            ▼
┌─────────────────────────────────────────────────────────────┐
│                      Pool (PDA)                              │
│  - Token A & B mints                                         │
│  - Token A & B vaults                                       │
│  - Current sqrt price (Q64.64)                              │
│  - Current tick                                              │
│  - Total liquidity                                           │
│  - Fee growth globals                                        │
│  - Protocol fees                                             │
│  - Fee tier & tick spacing                                   │
└─────────────────────────────────────────────────────────────┘
                            │
                            ▼
┌─────────────────────────────────────────────────────────────┐
│                    Position (PDA)                            │
│  - Pool reference                                           │
│  - Owner                                                     │
│  - Tick lower & upper                                       │
│  - Liquidity amount                                          │
│  - Fee growth inside (last)                                 │
│  - Tokens owed (uncollected fees)                           │
└─────────────────────────────────────────────────────────────┘
                            │
                            ▼
┌─────────────────────────────────────────────────────────────┐
│                      Tick (PDA)                              │
│  - Tick index                                                │
│  - Liquidity net & gross                                     │
│  - Fee growth outside                                       │
│  - Initialized flag                                          │
└─────────────────────────────────────────────────────────────┘

Installation

Prerequisites

  • Rust 1.70+
  • Solana CLI 1.18.0+
  • Anchor 0.30.0+
  • Node.js 18+ and Yarn

Setup

  1. Clone the repository
git clone <repository-url>
cd Solana-Stablecoin-AMM-DEX-Smart-Contract
  1. Install dependencies
yarn install
  1. Build the program
anchor build
  1. Run tests
anchor test

Project Structure

Solana-Stablecoin-AMM-DEX-Smart-Contract-1/
├── Anchor.toml
├── package.json
├── tsconfig.json
├── README.md
├── programs/
│   └── solana-stablecoin-amm-dex/
│       ├── Cargo.toml
│       └── src/
│           ├── lib.rs                 # Main program entry point
│           ├── state.rs                 # Account structs
│           ├── errors.rs                # Custom error types
│           ├── events.rs                # Event definitions
│           ├── constants.rs             # Protocol constants
│           ├── math.rs                  # Math utilities (sqrt price, ticks, swaps)
│           └── instructions/
│               ├── mod.rs
│               ├── initialize.rs
│               ├── initialize_pool.rs
│               ├── add_liquidity.rs
│               ├── remove_liquidity.rs
│               ├── swap.rs
│               ├── claim_fees.rs
│               ├── update_fee_tier.rs
│               └── pause.rs
└── tests/
    └── solana-stablecoin-amm-dex.ts

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