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This entry covers a CPMM program upgrade scheduled for 2026-10-30. It was verified against the feat/initialize-v2 branch of raydium-cp-swap (head 40cbd81) before deployment. Confirm the deployed program before relying on the new instruction.
Every CPMM pool has an enable_creator_fee flag and a creator_fee_on side, both fixed at creation. Until now, a creator could only set them through InitializeWithPermission, which needs an admin-issued Permission PDA. The public Initialize always stored the fee as disabled. In practice, only LaunchLab graduations and other gated flows could create a pool that charges a creator fee. This release adds InitializeV2. It is Initialize with one extra argument, creator_fee_on: Option<CreatorFeeOn>, and anyone can call it. Pool math, swap, liquidity, fee collection and the protocol share of the creator fee are untouched.

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TL;DR for integrators

  • New instruction: InitializeV2. Permissionless. Arguments are init_amount_0, init_amount_1, open_time and creator_fee_on: Option<CreatorFeeOn>. Discriminator [67, 153, 175, 39, 218, 16, 38, 32].
  • Some(side) enables the creator fee on that side; None leaves it off. None stores exactly what Initialize stores.
  • Same accounts as Initialize, minus rent. The first 19 accounts are identical and in the same order. See the account list.
  • The creator is the signer. pool_state.pool_creator is the signing creator. Unlike InitializeWithPermission, the beneficiary cannot be set to another address.
  • The creator picks on/off and the side, not the rate. The pool charges its fee tier’s AmmConfig.creator_fee_rate. That rate defaults to 0, so an enabled pool on such a tier accrues nothing.
  • Nothing existing changed. Initialize and InitializeWithPermission keep their discriminators, accounts, arguments and behaviour. No account layout or error code changed.
  • Refresh your IDL to get the new instruction. Clients that never call it need no change.

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What changed in the program

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New instruction: InitializeV2

InitializeV2 runs the same creation code as Initialize. It:
  • accepts either the canonical pool PDA or a signed random keypair as pool_state;
  • applies the same Token-2022 allow-list and SupportMintAssociated checks, through remaining_accounts;
  • rejects creation when amm_config.disable_create_pool is set;
  • bumps open_time to block_timestamp + 1 when it is not in the future;
  • locks 100 LP base units and mints the rest to the creator;
  • charges amm_config.create_pool_fee.
The only difference is what it writes into the new PoolState: An invalid tag or variant byte fails Anchor’s argument deserialization. No new error code is involved.

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How the three creation paths compare

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Internal refactor

The three handlers now share one initialize_pool routine. The refactor does not change the accounts, arguments, checks or stored values of Initialize or InitializeWithPermission. The new tests also check that a plain Initialize on the same config still stores the creator fee as disabled.

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What creators should know

  • Check the fee tier first. The creator fee rate belongs to the AmmConfig, not the pool. Choose a tier whose creator_fee_rate is what you want to charge. Rates are listed in products/cpmm/fees.
  • The choice is permanent. No instruction changes enable_creator_fee or creator_fee_on after creation. To change it, you must create a new pool.
  • Traders pay it on top of the trade fee. The creator fee is a separate rate added to the swap. It does not reduce the LP, protocol or fund shares, but it does make the pool more expensive to trade against than a pool on the same tier with the fee off.
  • Collection is unchanged. Use CollectCreatorFee or CollectCreatorFeePermissionless. The protocol’s share from the 2026-09-19 release applies, and you can’t opt out of it at creation.

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Migration notes

  • Pool creators. Switch from Initialize to InitializeV2 only if you want the creator fee on. Pass Some(side) and drop the rent account. Initialize keeps working.
  • SDK users. raydium.cpmm.createPool in @raydium-io/raydium-sdk-v2@0.2.64-alpha builds Initialize. Until a release ships an InitializeV2 builder, encode it from the refreshed IDL.
  • Indexers and routers. Expect more pools with enable_creator_fee = true, created by ordinary wallets rather than LaunchLab. Quote from each pool’s own enable_creator_fee and creator_fee_on, never from the creation path or the tier alone. Decode the new instruction if you track pool creation from instructions. Tracking from PoolState accounts needs no change.
  • UIs. Show whether a pool charges a creator fee and at what rate, since two pools on the same tier can now differ.
  • LaunchLab and other permissioned flows. No change. InitializeWithPermission is still the path when the payer and the recorded creator must differ.

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What did not change

  • Every account layout, including PoolState and AmmConfig.
  • Initialize and InitializeWithPermission: discriminators, accounts, arguments and stored values.
  • Permission, CreatePermissionPda and ClosePermissionPda.
  • Swap, deposit and withdraw math, the creator-fee charge, and the protocol share of the creator fee.
  • Error codes. 6000–6015 are unchanged; nothing appended.
  • Program ID.

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Pages updated

  • products/cpmm/instructions: upgrade banner; summary and state-change matrix rows; new InitializeV2 section with arguments, encoding and account list; Initialize postcondition now points to InitializeV2.
  • products/cpmm/fees: “Creator fee” section lists all three creation paths and notes that enabling the fee does not set its rate.
  • products/cpmm/accounts: poolState and pool-ID notes; creator_fee_on / enable_creator_fee field notes; Permission note; account-lifecycle row.
  • products/cpmm/overview: “What’s new” callout and the “Predictable fees” bullet.
  • products/cpmm/code-demos: note that createPool builds Initialize and how to reach InitializeV2.
  • protocol-overview/shared-infrastructure: creator fees are no longer limited to LaunchLab-graduated pools.
  • reference/token-2022-support: CPMM pool-creation paths.
Verified against: raydium-cp-swap branch feat/initialize-v2 (40cbd81): programs/cp-swap/src/lib.rs, instructions/initialize_v2.rs, instructions/initialize.rs, instructions/initialize_with_permission.rs, instructions/mod.rs, states/pool.rs, and tests/initialize_v2.test.ts.