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What is JustSwap?

JustSwap is JustPump’s native Automated Market Maker (AMM) used for trading tokens after they graduate from the bonding curve. It implements a constant product formula (x × y = k), similar to Uniswap and other popular AMMs.
JustSwap provides permanent liquidity and market-driven pricing for graduated tokens.

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When Tokens Move to JustSwap

Tokens graduate to JustSwap when they reach the 85 SOL threshold on the bonding curve. At this point:
  1. The bonding curve stops accepting trades
  2. Remaining liquidity is migrated to a canonical pool on JustSwap
  3. The token begins trading on the constant product AMM
  4. Liquidity is permanently locked—it cannot be withdrawn
Once a token graduates, all future trading happens on JustSwap. The bonding curve phase is complete.

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How Constant Product AMMs Work

JustSwap uses the constant product formula: 
x × y = k
Where:
  • x = Amount of token A in the pool (e.g., your token)
  • y = Amount of token B in the pool (e.g., SOL)
  • k = A constant value that must remain the same after every trade

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Trading Mechanics

When you buy tokens:
  • You add SOL to the pool (increases y)
  • You remove tokens from the pool (decreases x)
  • The price adjusts to maintain k = constant
When you sell tokens:
  • You add tokens to the pool (increases x)
  • You remove SOL from the pool (decreases y)
  • The price adjusts to maintain k = constant
Imagine a pool with:
  • 1,000,000 tokens (x)
  • 100 SOL (y)
  • k = 100,000,000
If someone buys 10,000 tokens:
  • New x = 990,000
  • To maintain k, new y must be: 100,000,000 / 990,000 ≈ 101.01 SOL
  • Buyer pays 1.01 SOL (plus fees) to receive 10,000 tokens
  • Price per token increased because supply decreased

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Permanent Liquidity Lock

One of the key features of JustSwap canonical pools is permanent liquidity locking.
LP (Liquidity Provider) tokens for canonical pools are minted directly to the pool’s Program Derived Address (PDA) and cannot be withdrawn. This ensures liquidity can never be rug-pulled.

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Why This Matters

  • No rug risk: Creators cannot remove liquidity and crash the price
  • Long-term viability: Token remains tradable indefinitely
  • Community confidence: Traders know liquidity is permanent
  • External integration: Other platforms can list the token with confidence

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Bonding Curve vs JustSwap

Bonding Curve

Phase: Pre-graduationPricing: Linear bonding curveLiquidity: Provided by smart contractFees: 1.3% totalSupply: Dynamic as trades occurGoal: Accumulate 85 SOL for graduation

JustSwap AMM

Phase: Post-graduationPricing: Constant product (x × y = k)Liquidity: Permanently lockedFees: 1.5% totalSupply: Fixed foreverGoal: Provide long-term, stable trading

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Fee Structure on JustSwap

JustSwap trades incur a 1.5% total fee, distributed across four recipients:
RecipientPercentagePurpose
Platform0.6%Platform development
Creator0.5%Token creator support
Insurance Fund0.2%Cashback vault
Airdrop Fund0.2%Community rewards
See the Fees Overview page for detailed breakdowns and examples.

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Advantages of JustSwap

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For Traders

  • Deep liquidity: Graduated tokens have permanent liquidity
  • Market-driven pricing: Price reflects true supply and demand
  • Lower slippage: Compared to low-liquidity bonding curves
  • Composability: Can integrate with other DeFi protocols

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For Creators

  • Ongoing revenue: Creators earn 0.5% on every trade forever
  • Project credibility: Graduation signals community support
  • No liquidity management: Liquidity is locked and automated
  • External visibility: Listed tokens attract external traders

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For the Ecosystem

  • Permanent markets: Tokens remain tradable indefinitely
  • Community protection: No rug pull risk on canonical pools
  • Fair trading: No privileged access or front-running
  • Transparent operations: All swaps are on-chain and auditable

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How to Trade on JustSwap

1

Connect Your Wallet

Visit JustPump and connect your Solana wallet.
2

Select a Graduated Token

Browse graduated tokens or search for a specific token by name or address.
3

Execute Your Trade

Enter the amount you want to buy or sell. The interface shows you the estimated output after fees and slippage.
4

Confirm Transaction

Review the trade details and confirm. The swap executes on-chain and you receive your tokens instantly.
JustSwap pools are canonical, meaning there’s only one official pool per token. This concentrates liquidity and provides better pricing.

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Security and Trust

  • Auditable code: JustSwap smart contracts are open source
  • No admin keys: Canonical pools have no upgrade authority after creation
  • Permissionless: Anyone can trade without restrictions
  • On-chain execution: All swaps happen transparently on Solana

Learn more about security

Read about JustPump’s security architecture and protections

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Questions?

Have questions about JustSwap or AMM trading? Visit the FAQ or contact [email protected].