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Code Reference

Welcome to the Omnipair Solana program code reference. This documentation provides detailed information about the Anchor program implementation, including instructions, accounts, errors, and constants.

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Program Overview

The Omnipair program is a Solana Anchor program that implements a Generalized Automated Market Maker (GAMM) with integrated lending functionality. It enables:
  • Spot Trading: Constant-product AMM swaps
  • Liquidity Provision: Add and remove liquidity from pools
  • Margin Lending: Borrow against collateral with dynamic interest rates
  • Flash Loans: Uncollateralized loans that must be repaid in the same transaction
  • Liquidations: Automated liquidation of undercollateralized positions

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Program ID

  • Devnet: 2h6oKUk4jcNQ81EzKvYVtzsyRpJwsz6J2pEeQTo1KsQB
  • Mainnet: 3tJrAXnjofAw8oskbMaSo9oMAYuzdBgVbW3TvQLdMEBd

OpenAPI Specification

View the complete OpenAPI specification file

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Architecture

The program is organized into several modules:
  • Instructions: Entry points for program interactions
    • Liquidity management (initialize, add, remove)
    • Spot trading (swap)
    • Lending operations (collateral, borrow, repay, liquidate, flashloan)
    • Futarchy governance (authority management, fee distribution)
    • View functions (read-only data access)
  • State: On-chain account structures
    • Pair: Pool state and reserves
    • UserPosition: User collateral and debt tracking
    • FutarchyAuthority: Protocol governance and fee configuration
    • RateModel: Interest rate model configuration
  • Utils: Helper functions for math, token operations, and account management
  • Constants: Protocol-wide constants and configuration

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Key Features

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Oracle-less Pricing

  • Uses EMA (Exponential Moving Average) of spot prices for debt valuation
  • No external oracle dependencies

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Dynamic Collateral Factors

  • Slippage-aware collateral factors derived from AMM reserves
  • Ensures lending doesn’t break the AMM invariant

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Utilization-based Interest Rates

  • Interest rates adjust based on pool utilization
  • Exponential rate model with target utilization bands

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Isolated Collateral Pools

  • Each pair operates as an isolated lending market
  • No cross-pool risk exposure