LibraryMarkets2023Design paperCorpus record
Meteora DLMM: discrete liquidity on Solana
Meteora. Meteora.
Meteora's DLMM publishes liquidity in discrete bins, so a provider chooses bins instead of a continuous range, and the pool price moves bin by bin.
A reading of the project's public design document. Not a copy, not a benchmark, and not an offer.
Meteora's DLMM publishes liquidity in discrete bins, so a provider chooses bins instead of a continuous range, and the pool price moves bin by bin.
- Evidence
- Primary paper
- Re-measured
- No
- Assumptions
- 3
- Records linked
- 5
01 Claim ledger
What the paper is allowed to say
Each row is a sentence already in the study. The status is the same on every row: a model claim, not a live measurement.
Claim 01 · Paper model
The defect
Bins are concentrated liquidity with a grid. A provider who misses the active bin is not in the market, the same way an out-of-range Uniswap position is not.
Claim 02 · Paper model
The proposal
Meteora's DLMM publishes liquidity in discrete bins, so a provider chooses bins instead of a continuous range, and the pool price moves bin by bin.
Claim 03 · Paper model
The mechanism
Each bin holds liquidity at a price. Swaps consume the active bin and then the next.
Claim 04 · Paper model
The bound
No fee and no liquidity figure is stated here.
02 Three cuts
Observation, model, falsifier
A desk does not stop at the summary. Each claim is cut three ways, using only this study's own assumptions and checks. Nothing here is a new figure.
01 The defect
Observation
What the study says
Bins are concentrated liquidity with a grid. A provider who misses the active bin is not in the market, the same way an out-of-range Uniswap position is not.
Falsifier
What would retire it
How is a position represented?
02 The proposal
Observation
What the study says
Meteora's DLMM publishes liquidity in discrete bins, so a provider chooses bins instead of a continuous range, and the pool price moves bin by bin.
Falsifier
What would retire it
How is a position represented?
03 The mechanism
Observation
What the study says
Each bin holds liquidity at a price. Swaps consume the active bin and then the next.
Model
What has to hold
No price, supply, yield, or adoption figure is added by this desk.
Falsifier
What would retire it
Are fees fixed in the document or a function of volatility?
04 The bound
Observation
What the study says
No fee and no liquidity figure is stated here.
Model
What has to hold
No price, supply, yield, or adoption figure is added by this desk.
Falsifier
What would retire it
What does a swap do when a bin is empty?
03 Sequence
One action, as an operating tape
- 01Each bin holds liquidity at a price. Swaps consume the active bin and then the next.
- 02A position is a set of bins. It is not a fungible share of the whole curve unless wrapped.
- 03Dynamic fees, if the docs add them, are a second rule on top of the bins.
04 Load-bearing
The argument, and where a pitch drops it
What the name has to mean
The cut
Meteora's DLMM publishes liquidity in discrete bins, so a provider chooses bins instead of a continuous range, and the pool price moves bin by bin.
Why it carries weight
If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.
Where it is dropped
No fee and no liquidity figure is stated here.
What actually moves
The cut
A position is a set of bins. It is not a fungible share of the whole curve unless wrapped.
Why it carries weight
If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.
Where it is dropped
A later client, parameter or reward formula is a different object from this paragraph.
What a later deployment may change
The cut
Dynamic fees, if the docs add them, are a second rule on top of the bins.
Why it carries weight
If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.
Where it is dropped
A later client, parameter or reward formula is a different object from this paragraph.
05 Register
What has to be true
Model · Not re-measured
You are reading Meteora's docs. A vault strategy is extra.
Model · Not re-measured
The document is the one at the source URL. A marketing page with the same brand is not this text.
Model · Not re-measured
No price, supply, yield, or adoption figure is added by this desk.
06 Divergence
What happened after the paper
A strategy vault on top of the bins is a manager, not the AMM.
A later client, parameter set, or reward formula is a different object. Cite this paper for the mechanism. Cite a primary release for the network. This desk has not re-run the proof.
07 Pre-mortem
What to check before you use the idea
- 0 of 3 marked on this browser. A mark is a reading note, not a pass, a rating, or a recommendation.
08 Anatomy
The paper, in the order a builder needs
The problem it names
Bins are concentrated liquidity with a grid. A provider who misses the active bin is not in the market, the same way an out-of-range Uniswap position is not.
What the design proposes
- Each bin holds liquidity at a price. Swaps consume the active bin and then the next.
- A position is a set of bins. It is not a fungible share of the whole curve unless wrapped.
- Dynamic fees, if the docs add them, are a second rule on top of the bins.
How the mechanism is specified
- Each bin holds liquidity at a price. Swaps consume the active bin and then the next.
- A position is a set of bins. It is not a fungible share of the whole curve unless wrapped.
- Dynamic fees, if the docs add them, are a second rule on top of the bins.
What this page does not treat as proven
Why the desk still reads it
Meteora's DLMM publishes liquidity in discrete bins, so a provider chooses bins instead of a continuous range, and the pool price moves bin by bin.
09 Lexicon
Terms, opened into the record
- Bin
- A price bucket that holds liquidity. Only the active bin is the current market.
- DLMM
- The discrete-liquidity market maker the docs define. It is not a constant-product pool.
10 Repository
Every linked record on this page
Underlined words open a page that already exists: a concept, a protocol profile, a failure record, or another paper. If a word is not underlined, this desk does not have a record for it.
This is Blockchain Lab's reading of a public design paper. It is not the paper, not a copy of it, and not an offer of tokens, equity, custody or a partnership. Later network behaviour can diverge from the text. Nothing here is investment, legal or technical advice.
Research status: Design paper. Last reviewed: 1 October 2026. This is a reading of a public paper, not investment, legal or security advice.