DLMM

A DLMM pool stores its state on an LB Pair account at program LBUZKhRxPF3XUpBCjp4YzTKgLccjZhTSDM9YuVaPwxoand its liquidity in bin arrays of 70 bins each. The active bin is whichever bin currently holds the trade price. A swap inside one bin pays no slippage. A swap that crosses bins jumps in discrete steps determined by the pool's bin step.

The fee model has two parts. The base fee is fixed per bin step. The variable fee scales with recent price volatility measured by bin crossings, so during fast markets LPs earn more per unit of risk. That dynamic component is the "D" in DLMM. CLMMs and AMMs both use static fee tiers by comparison.

For LPs the DLMM model is more flexible. You can build spot-uniform shapes, curve shapes, or bid-ask shapes by distributing liquidity across bins differently. The catch is that swap routers struggle to predict cross-bin behaviour cleanly, which sometimes leads to worse aggregator quotes than a comparably sized CLMM.

One opinion: DLMM rewards LPs who actually understand the shape they are building. If you are using "spot-uniform" as a default because you do not want to think about it, you are close to the CLMM "full range" experience and you would usually be better off in a plain AMM. The interesting LP shapes on DLMM are the asymmetric ones: heavier on one side of the active bin to express a directional view, then rebalanced as price drifts.

DLMM pools are common for memecoin pairs, LST pairs, and any market where Meteora has incentivised LPs. The instructions you will see in transactions include swap, add_liquidity_by_strategy, remove_liquidity, and claim_fee.

Our Meteora Enhanced Stream parses every DLMM swap and liquidity action with the active bin id, bin step, and fee state. If you are building an aggregator route or an LP analytics product on Meteora, that is the input feed.