Keyrock’s DLMM Volume Comparison Dashboard
Thanos from Keyrock presented a dashboard he’s building that provides a broad overview of historical daily volume and liquidity distribution of Meteora’s DLMM for all SOL-USDC pools.
Some interesting insights:
- Most of the recent SOL-USDC volume came from the 1bps-5bps pools
- Across SOL-USDC pools between 1bps and 5bps, DLMM is starting to generate substantial volume
- DLMM market share is steadily increasing
- There is a noticeable uptick in volume in the early days of March. This was also when Keyrock started deploying capital
Here are some screenshots of the dashboard stats:
Looking solely at Keyrock’s 1bps DLMM pool, it’s starting to match top DEXes in volume for the 1bps pool, despite the Keyrock pool having only $500K in TVL. Based on Keryock’s findings, DLMM volume to TVL ratio was 28.4, despite having significantly less concentration during the same period compared to other DEXes.
When it came to LP profitability for the Keyrock pool, there’s still room for improvement, as it was approximately breakeven. However, this was with very minimal rebalancing or adjustment. Keyrock is planning to scale up in terms of their capital deployment and automation of liquidity management. They are confident that their pool would be profitable soon with those changes.
These findings are a positive reflection of how DLMM is designed for capturing a lot of volume & fees while achieving LP profitability.
DLMM Personal Dashboard by Andzi from ISC Labs
Next up, community member Andzi from ISC Labs showcased his amazing take on a DLMM personal dashboard!
You can simply paste your address to view a breakdown of your key DLMM stats, including your open positions and whether they are in range, historical positions, fees earned, as well as estimated $ Profit and Loss (PnL). Perhaps the most exciting feature for many of us in the LP Army is that you can view your estimated MET points!
Here is a sneak peek at the first version of the dashboard:
You can get even more granular and view the time you added/withdrew liquidity and the value of that action, and the value of your tokens if you had hodl them instead of being a liquidity provider.
PnL takes into account the $ value on the day of the deposit, the $ value of your current token holdings, and the fees earned. In this first version, the API used for the dashboard only tracks per day and not down to the minute. In subsequent versions, Andzi might add a feature to allow users with a premium Birdeye API key to use it on the dashboard to get more precise pricing.
Estimated MET points on Andzi’s dashboard are based on our scoring system, where LPs earn:
- 1 point for $1 in TVL per day
- 1,000 points for $1 in fees earned per day
Points linked to TVL per day are estimated using data for add & withdraw liquidity, while points for fees per day are estimated using on a combination of claimed fees and position state / on-chain data for unclaimed fees.
For subsequent versions, Andzi would attempt to crawl retroactive data on DLMM bin distributions so that he can boost the accuracy of the estimated points. This might be possible by using Jito’s open source Memento tool to load up a snapshot of the account state on Solana and querying the account state data.
LP Army Boot Camp updates
As mentioned 2 weeks ago, together with the community, we will be setting up an LP Army Boot Camp to educate more users about the basics of LPing, the best practices, and the practical strategies that can help achieve profitability.
In our call, Otto shared an outline of what the boot camp could be like if it is 3 sessions long. He felt that on top of teaching theoretical concepts, these sessions should include hands-on practice and sharing by community members and guest speakers, so that participants can learn through interactive and engaging content. We should be able to kickstart the boot camp soon after a few more iterations on this curriculum!
Kash has also set up a draft version of the website for users to sign up for the boot camp https://primary-reason-584151.framer.app/
With structured, comprehensive, and interactive training lessons, the LP Army Boot Camp would demystify the intricacies of being a liquidity provider and also make DLMM a lot more accessible to new LPs!
The community DLMM dashboards showcased by Thanos, Andzi, and others would also come in handy during the boot camp!
Recent Product Updates
Already deployed to the main Meteora site
- Add Liquidity by Strategy endpoint: Adding liquidity to a DLMM pool now requires only 1 transaction (previously 3 transactions were required). This allows for a better UX, with much faster deposits, less dependencies, and a reduced likelihood of a failed deposit.
- Liquidity Slippage: In highly volatile pools, adding liquidity can fail if the price changes substantially from when you send the transaction. Now you can control your liquidity slippage to make it easier to LP, especially for low bin step, low fee pools.
- Improved Priority Fees: We’ll auto adjust your priority fee to be a multiple of priority fees used for recent transactions, up to the max amount specified. A higher fee increases the likelihood of transaction success, especially during network congestion.
- Link to Birdeye and GeckoTerminal charts: All pool pages now have a link to their corresponding pool info and charts on Birdeye and GeckoTerminal.
On Edge for community testing
- Set any price range with multi-positions: Each DLMM position is currently limited to 69 bins, but Edge users can now set any range and we’ll auto-create the positions needed, with a cost breakdown. We are also testing a major upgrade to DLMM position sizing, which would enable each DLMM position to have dynamic sizing and support thousands of bins!
Other news and updates
- The BANX token launch on 25 March was powered by a DLMM Bootstrapping Pool, which is a customizable DLMM pool that enables projects to set their preferred parameters and mechanisms for their unique launch needs. We have more projects lined up to use DLMM Bootstrapping Pools in the coming weeks and the plan is to make the process of creating such pools fully permissionless soon!
- On 4.4, Zeus Network is launching their token via the Jupiter LFG Launchpad, which is also powered by DLMM.
- We are currently focused on supporting the launch of new tokens/memecoins by improving the pool creation process and UI/UX, as well as ensuring that tokens and pools are tracked quickly and accurately by top data analytics sites such as DEX Screener, DEXTools, Birdeye, CoinGecko, and CoinMarketCap.
- To further increase our volume, we will continue to collaborate with more market makers like Keyrock and plan to open source a market making bot that we have been developing for the past few weeks.
Thank you Thanos and Andzi for your awesome dashboards, Otto for helping to design the LP Army Bootcamp, and other community members for your contributions during the call! Let’s go MET!
ICYMI, read our recent community call recaps:
And watch our DLMM Strategy Sessions:
- DLMM Strategy Sessions #1: https://x.com/MeteoraAG/status/1755962478364893316
- DLMM Strategy Sessions #2 ft. @OttoCatalytic and @GeekLad: https://www.youtube.com/watch?v=TVilL1plhCE&t=2s
- DLMM Strategy Sessions #3 https://x.com/MeteoraAG/status/1770074834015506497
- DLMM Strategy Sessions #4 https://x.com/MeteoraAG/status/1772612619662471383
