Meteora DAMM V2 Review 2026: Configurable Solana AMM Pools

Meteora DAMM V2 is the second version of Meteora's constant-product AMM pools on Solana. DefiLlama classifies it as a DEX and describes it as pools with configurable features such as dynamic fees, fee scheduling and token-based fee selection, designed for liquidity provision and token launches with minimal maintenance.

DefiLlama shows about $20.4M in total value locked, down 5.5% over the last seven days. The product was listed on DefiLlama on 31 January 2026. The associated token is MET, and the project's X account is MeteoraAG.

Meteora's wider site describes building liquidity pools for liquidity providers, launchpads and launches. The documentation includes a DAMM v2 changelog and fee guide, and there is a TypeScript SDK on GitHub for creating pools and managing positions.

Public sources we have do not include audit reports, team details or fee percentages, so this review covers the product's design and risks rather than any verified performance.

DAMM V2 is an automated market maker. Instead of an order book, users trade against a pool of two tokens. Liquidity providers deposit both tokens and receive a position that earns a share of the trading fees. The pool prices trades with a constant-product formula, so the price shifts as one token is bought and the other sold.

What sets DAMM V2 apart is configurability. Pool creators can choose how fees work, including dynamic fees that change with conditions, scheduled fees that change over time, and token-based fee selection. The documentation also describes how fees are collected and what can be updated after launch. The search snippet for one pool also shows a Dynamic Fee label and a concentrated or full-range setting.

The design aims to support liquidity provision and token launches with minimal maintenance, so a project can set up a pool and leave it running. Fees from trades accrue to liquidity providers, with protocol and referral fees as separate layers.

Fees in DAMM V2 are layered. Meteora's documentation describes collect fee modes, base fee modes, dynamic fees, protocol fees and referral fees, plus constraints on updating them. The exact percentages are not given publicly, so we do not quote any.

Because pools are configurable, fees can differ from pool to pool. Check the fee settings shown on each pool page in the Meteora app before you swap or add liquidity. Solana network fees also apply to each transaction.

DefiLlama lists no audits for this product. Audits may exist and be published elsewhere, so check Meteora's documentation and any audit reports before depositing, and treat that as an open question until confirmed. Public sources also do not describe any past incidents, either way.

Liquidity pools are non-custodial in principle, meaning you keep your wallet keys and interact with smart contracts directly. That shifts the risk to the contracts, to the tokens in each pool, and to your own wallet security. Impermanent loss is a risk for every liquidity provider, and new or low-volume pools can have thin liquidity. Do not deposit funds you cannot afford to lose.

This product suits Solana users who want to provide liquidity or launch a token with flexible fee rules, and developers who prefer an SDK-driven setup. It is less suited to beginners who want a simple swap interface or to anyone who requires published audits before depositing.