Stable AMM instructions

The currently callable instruction set — Deposit, Withdraw, SwapBaseIn, SwapBaseOut, WithdrawPnl — plus the instructions removed in the 2026-06-22 upgrade.

Stable AMM is an independent program with its own program ID. It is not a mode of the AMM v4 program, and it is not traded “through” AMM v4 — it is deployed, upgraded, and called separately. It resembles AMM v4 only in fee and account-layout conventions.

2026-06-22 upgrade — removal of dead OpenBook (market) code. Stable AMM stopped posting orders to OpenBook a long time ago; the orderbook market-making path has been dormant for years. This upgrade deletes the leftover market-related accounts and code — it does not change live trading behavior.

Two consequences for integrators:

1. Smaller account layouts. SwapBaseIn / SwapBaseOut (18 → 9), Deposit (14 → 12), and Withdraw (21/22 → 12) drop the dead Serum/market accounts. Old layouts still parse for backwards compatibility. WithdrawPnl (16 → 10) is a hard breaking change with no compatibility path (admin only).
2. Most instructions are removed. Only SwapBaseIn, SwapBaseOut, Deposit, Withdraw, and WithdrawPnl remain callable. All other instructions can no longer be called.

Changelog: reference/changelog.

Instruction inventory

Callable

Instruction	Category	Notes
Deposit	Liquidity	Add liquidity, receive LP. New 12-account layout; old 14-account layout still compatible.
Withdraw	Liquidity	Burn LP, receive both sides. New 12-account layout; old 21/22-account layout still compatible.
SwapBaseIn	Swap	Exact-input swap. New 9-account layout; old 18-account layout still compatible.
SwapBaseOut	Swap	Exact-output swap. New 9-account layout; old 18-account layout still compatible.
WithdrawPnl	Admin	Sweep accrued protocol fees. New 10-account layout (hard breaking — no old-layout compatibility).

Removed (no longer callable)

These were removed in the 2026-06-22 upgrade and can no longer be invoked. See Removed instructions.

Instruction	Former category	Former purpose
Initialize	Lifecycle	Create a pool.
PreInitialize	Lifecycle	Legacy pre-allocation helper.
InitModelData	Model setup	Create and initialize the lookup table.
UpdateModelData	Model setup	Populate up to 5 table elements per call.
MonitorStep	Crank	Settle OpenBook fills, repost orders.
SetParams	Admin	Change pool parameters.
WithdrawSrm	Legacy	Sweep SRM fee-discount rebates.
SimulateInfo	Diagnostic	Read-only quote helper.

Deposit

Add liquidity, receive LP tokens.

Arguments

max_coin_amount: u64
max_pc_amount: u64
base_side: u64          // 0 = base on coin, 1 = base on pc

Accounts — new layout, 12 accounts (writable W, signer S)

#	Name	W	S	Notes
0	token_program			SPL Token.
1	amm	W		Pool’s AmmInfo.
2	amm_authority			Program-wide PDA.
3	amm_target_orders	W
4	amm_lp_mint	W		LP mint.
5	amm_coin_vault	W		Pool coin vault.
6	amm_pc_vault	W		Pool pc vault.
7	model_data_account			Read-only lookup table.
8	user_source_coin	W		User’s coin input.
9	user_source_pc	W		User’s pc input.
10	user_dest_lp	W		User’s LP ATA.
11	user_source_owner		S	Transaction signer.

Compatibility: amm_open_orders (old #3) and serum_market (old #9) are removed. When 14 accounts are passed, the instruction is parsed with the old 14-account layout; the Serum accounts are ignored.

Math — standard pro-rata using the lookup table to compute the ratio. The SDK computes coin/pc pair for the desired LP amount and checks against max caps.

Withdraw

Burn LP, receive both sides pro-rata.

Arguments

amount: u64            // LP tokens to burn

Accounts — new layout, 12 accounts (writable W, signer S)

#	Name	W	S	Notes
0	token_program			SPL Token.
1	amm	W		Pool’s AmmInfo.
2	amm_authority			Program-wide PDA.
3	amm_target_orders	W
4	amm_lp_mint	W		LP mint.
5	amm_coin_vault	W		Pool coin vault.
6	amm_pc_vault	W		Pool pc vault.
7	model_data_account			Read-only lookup table.
8	user_source_lp	W		User’s LP source.
9	user_dest_coin	W		User’s coin output.
10	user_dest_pc	W		User’s pc output.
11	user_lp_owner		S	Transaction signer.

Compatibility: nine Serum accounts (amm_open_orders, serum_program, serum_market, serum_coin_vault, serum_pc_vault, serum_vault_signer, serum_event_q, serum_bids, serum_asks) are removed. The old 21- or 22-account layouts are still accepted. Note, however, that the referral-fee logic for the 22nd optional referrer_pc_wallet account has been removed — it can still be passed but no longer takes effect.

Preconditions

• user_source_lp holds at least amount.

Postconditions

• amount LP tokens are burned.
• User receives coin and pc amounts according to the current pro-rata, adjusted for accrued fees.

SwapBaseIn

Exact-input swap using the lookup table for pricing.

Arguments

amount_in: u64
minimum_amount_out: u64

Accounts — new layout, 9 accounts (writable W, signer S)

#	Name	W	S	Notes
0	spl_token program			SPL Token.
1	amm	W		Pool’s AmmInfo.
2	amm_authority			Program-wide PDA.
3	amm_coin_vault	W		Pool coin vault.
4	amm_pc_vault	W		Pool pc vault.
5	model_data_account			Read-only lookup table.
6	user_source_token	W		User’s input token account.
7	user_destination_token	W		User’s output token account.
8	user_source_owner		S	User (transaction signer).

Compatibility: the nine OpenBook accounts (amm_open_orders, serum_program, serum_market, serum_bids, serum_asks, serum_event_queue, serum_coin_vault, serum_pc_vault, serum_vault_signer) are removed. If the number of accounts passed is not 9, the instruction is parsed with the old 18-account layout; the Serum accounts must still occupy their positions, but their contents are no longer validated or used.

Preconditions

• amm.status allows swap.
• user_source_token holds ≥ amount_in.

Postconditions

• User loses amount_in, gains amount_out ≥ minimum_amount_out.
• Pool fees increment need_take_pnl_* counters.

Math — Lookup-table interpolation as described in products/stable/math.

SwapBaseOut

Exact-output swap (inverse of SwapBaseIn). Same 9-account layout, different math direction.

Arguments

max_amount_in: u64
amount_out: u64

WithdrawPnl

Admin-only. Sweep accrued protocol fees from need_take_pnl_* into designated PnL accounts.

Hard breaking change — no compatibility path. This instruction has no parsing for the old layout. Sending the old layout fails with validation errors such as InvalidTokenCoin due to account misalignment (old #3 was open_orders). Admin tooling that calls WithdrawPnl must be updated to the new 10-account layout.

Arguments — none (state-driven).

Accounts — new layout, fixed 10 accounts, admin only (writable W, signer S)

#	Name	W	S	Notes
0	spl_token program			SPL Token.
1	amm	W		Pool’s AmmInfo.
2	amm_authority			Program-wide PDA.
3	amm_coin_vault	W		Pool coin vault.
4	amm_pc_vault	W		Pool pc vault.
5	amm_target_orders	W
6	model_data			Lookup table.
7	user_coin	W		Admin’s coin account (receives fee).
8	user_pc	W		Admin’s pc account (receives fee).
9	amm_admin		S	Pool admin (signer).

Logic change: when the pool’s available funds are insufficient to withdraw the accrued PnL, the pool is no longer put into CancelAllOrdersState / Disabled; the instruction returns TakePnlError directly. The optional referrer_pc_wallet has also been removed.

Preconditions

• amm_admin must be authorized.

Postconditions

• need_take_pnl_coin and need_take_pnl_pc are transferred to the admin’s accounts.
• Counters are zeroed.

Removed instructions

The following instructions were removed in the 2026-06-22 upgrade and can no longer be called. They are documented here only so integrators recognize them in historical transactions and SDKs.

• Initialize — formerly bootstrapped a new Stable AMM pool. Removed.
• PreInitialize — legacy pre-allocation helper. Removed.
• InitModelData — formerly created and initialized the ModelDataInfo lookup table. Removed.
• UpdateModelData — formerly populated up to 5 lookup-table elements per call. Removed.
• MonitorStep — the OpenBook crank that settled fills and reposted the order grid. Already long-dormant after the pool stopped posting to OpenBook; now removed.
• SetParams — admin parameter changes (status, fees, owner, model-data key, etc.). Removed.
• WithdrawSrm — swept SRM fee-discount rebates from early Serum-era pools. Removed.
• SimulateInfo — read-only quote helper. Removed; use the SDK’s off-chain stable-curve helpers for quoting (see Code demos).

Where to go next

• Accounts — for account field layouts and sizes.
• Math — for the lookup-table interpolation logic.
• Code demos — to see how to call these from the SDK.

Sources:

• raydium-stable/program/src/instruction.rs (enum and pack/unpack)
• raydium-stable/program/src/processor.rs (execution logic)