What is DLMM?
Meteora's Dynamic Liquidity Market Maker (DLMM) replaces the usual constant-product pool with a liquidity book. You place your liquidity in discrete price bins instead of one smooth curve.
Because liquidity sits in exact price ranges, fees concentrate where trading actually happens. That is why DLMM pools often show higher fee yield than AMM pools for the same pair.
Opening your first position
You connect a Solana wallet, pick a pool, choose an active strategy, and deposit. The three common shapes are spot, bid ask, and curve.
- Spot: liquidity in one bin. Best for very stable pairs.
- Bid ask: liquidity at the edges of a range. Best for ranging markets.
- Curve: liquidity spread across the range. Simplest default for beginners.
Next steps
Start small on a stable or liquid pair, watch how fees accrue, and rebalance only when price leaves your range.