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Picon DLMM is a discrete-bin liquidity market maker on Solana: a from-scratch Anchor program (not a fork) that replaces a continuous bonding curve with a finite grid of discretely priced bins. Liquidity providers deposit into specific bins instead of along a curve; a swap consumes liquidity bin by bin until it’s filled. The active bin is the market price — there’s no separate oracle or curve formula to invert.

Protocol concepts

Bins, positions, swaps, fees, Token-2022, and the account model — how the program works.

SDK

@picon-finance/dlmm-sdk — install it, and build pools/positions/swaps/events with it.

Integrations

Patterns for aggregators, routers, quoting engines, and liquidity-management bots.

Reference

Program addresses, the full instruction list, and event schemas.

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Who this is for

This documentation is written for developers integrating with Picon DLMM — aggregators, routers, trading bots, other on-chain programs, or anyone building against the SDK or the on-chain program directly. It assumes familiarity with Solana account model basics and TypeScript or Rust. If you’re looking for the end-user app, that’s dlmm.picon.finance.

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Quick facts

Live on

Mainnet and devnet. See program addresses.

On-chain program license

BUSL-1.1 (Business Source License).

SDK

@picon-finance/dlmm-sdk on npm, MIT licensed, built on @solana/kit.

Token support

Plain SPL Token and Token-2022, including transfer fees and transfer hooks.

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The one-paragraph mental model

A pool holds two tokens, X and Y, distributed across discrete price bins. Each bin trades at a single fixed price; a bin’s reserves determine whether it currently holds only Y (a bid, below the current price), only X (an ask, above the current price), or both (the active bin, at the current price). Liquidity providers deposit into a contiguous range of bins as positions, represented as Token-2022 NFTs. Traders swap through the active bin and outward in whichever direction the trade pushes the price — walking real reserves bin by bin, the same way a real order book does, rather than integrating along a curve.
Picon DLMM is engineering-level assurance, not a formal guarantee. The program has layered test coverage (200+ Rust unit tests over the core bin/fee/arithmetic layer, an adversarial integration suite, and end-to-end conservation tests), continuously audited by the most advanced AI models.