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AMMs, Hook Blocks and on-chain markets
Short, checkable answers to common questions about on-chain markets, written from reel’s program spec and adapted to Solana.
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Explainers
- What is an AMM?How a pool prices every swap from the two balances it holds, why the price moves as you trade, and where the fees go.Read the explainer →
- What is a liquidity provider?Depositing both tokens into a pool, earning a share of every fee, and the divergence loss that comes with it.Read the explainer →
- What are Hook Blocks?Rules a pool runs on every swap, chosen by its creator and frozen when the pool opens: how reel does on Solana what Uniswap v4 hooks do on Ethereum.Read the explainer →
- What is a bonding curve?Pricing a token from how much of it has been sold, what happens when the curve completes, and why a reel launch opens a pool instead.Read the explainer →
- What is a token launchpad?What a launchpad standardizes, why the limits on the first minutes matter most, and how a reel launch makes every rule readable.Read the explainer →
- Reading on-chain marketsFix the token's identity by its mint address, read the terms the program enforces, size your trade against real depth, and trust settled transactions over dashboards.Read the explainer →