What is Coffer?
We merged 45 concentrated liquidity pools into one multi-token pool
Coffer is a new AMM primitive (DEX) on Solana, built around LMMM — Leveraged Multi-Token Market Maker pools. A ten-token pool connects all 45 pairs through shared reserves.
Concentrated liquidity pools usually serve separate token pairs. This creates a major problem: liquidity fragmentation. Coffer brings these markets into one multi-token pool, where reserves are shared across pairs.
SOL / USDC
SOL / BTC
SOL / TRUMP
BTC / USDC
One shared pool
SOL / USDC
SOL / BTC
SOL / TRUMP
Shared liquidity improves capital efficiency and can generate more fee income per dollar deposited, supporting higher APY for liquidity providers.
Example: PROJECT, SOL, and USDC
Project and meme-token launches on Solana commonly start with a PROJECT/SOL pool. Without a matching PROJECT/USDC pool, buying PROJECT with USDC typically takes two hops: USDC → SOL → PROJECT.
Coffer estimates roughly $250 million in TVL in PROJECT/SOL pools without matching PROJECT/USDC pools, as of October 2026. We want shared multi-token pools to become the new default for token launches.
A project can instead fund one PROJECT/SOL/USDC pool on Coffer. All three pairs share its liquidity, giving users a direct PROJECT ↔ USDC swap in one hop.
Both the project's liquidity and other LP deposits can also earn compounding swap fees from SOL/USDC, supporting LP APY even when PROJECT trading is quiet. SOL/USDC is among Solana's highest-volume trading pairs.
Read Core Concepts: LMMM for the mechanism.