Creating a Constant Product Pool

Raydium has deployed a new standard AMM program (CP-Swap), which adds support for Token-2022 assets and no longer requires an OpenBook market ID.

Program Address: CPMMoo8L3F4NbTegBCKVNunggL7H1ZpdTHKxQB5qKP1C

Permissionless pools allow anyone to create a liquidity pool on Raydium.

It is highly suggested to carefully read and understand this entire guide before creating a pool.

  • For SPL tokens, pool creation requires freeze authority disabled.

  • For Token-2022, the only supported token extensions are: Transfer Fees, Metadata Pointer, and MetaData

  • Every new LP will have an associated AMM ID.

  • When a new pool is created, a small fraction of the initial liquidity is transferred to the pool vaults instead of being minted as LP tokens to ensure the liquidity pool is never empty and new liquidity positions can be added.

  • LP tokens can be burned, which effectively transfers the underlying assets & trading fees to the pool.

How to Create a Permissionless Pool

1. Go to the liquidity page on Raydium. In the top right corner, click the "Create" button.

3. Select "Standard AMM" under the Creating a Pool option, then click 'Continue'.

4. Starting Price, Initial Liquidity, and Start Time:

  • Set the Base Token starting price: This is the number of Quote Tokens needed to purchase 1 Base Token.

  • Set Base and Quote token initial liquidity: You can enter one side of initial liquidity and the other side will be calculated according to the Base Token starting price.

  • Set the start date and time that you want your pool to launch.

  • Ensure that you have adequate funds in your wallet for this initial liquidity, then click 'Initialize Liquidity Pool'.

IMPORTANT: After confirming and initializing the pool, you can no longer edit the starting price, liquidity, or start time.

5. After clicking confirm, you must approve the transaction in your wallet. This transaction will initialize the pool, create the AMM account and ID, and add liquidity from your wallet.

6. Once confirming the transaction in your wallet, the new LP will have been created, you will be provided with the new AMM ID, and the pool will launch at the set start time.

Helping users find your pool:

  • Users are encouraged to search for a token by mint address. Users can add tokens to their personal token list if it is not included in the default token lists.

  • The AMM ID can be used to easily search for the pool on the Liquidity page, or shared with others to do the same.

  • A detailed guide for locating a pool with token address or AMM ID can be found here.

You can return to the Create Pool page at any time to see LPs that you have previously created and view their AMM IDs.

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