AMM v4: the original
AMM v4 is Raydium’s original constant-product pool and was historically tied to the OpenBook order book. The fee is 0.25% per trade, split between liquidity providers and RAY buybacks. It doesn’t support Token-2022 tokens. For years it was the default destination for Pump.fun graduates, until Pump.fun moved migrations to its own PumpSwap AMM in 2025. Many older tokens still trade mainly on AMM v4 pools.
CPMM: the modern default for new tokens
CPMM uses the same constant-product maths as AMM v4 but without the OpenBook dependency, so it is cheaper and simpler to create. It supports Token-2022 and lets the pool creator pick a fee tier. Tokens that graduate from Raydium’s LaunchLab migrate into CPMM pools. For most new launches, CPMM is the sensible choice.
CLMM: concentrated liquidity
In a CLMM pool, liquidity providers choose the price range their capital covers, as in Uniswap v3. Inside that range liquidity is deep and slippage is low. If the price moves outside every provider’s range, the pool effectively has no liquidity until someone adds more. CLMM suits tokens with active liquidity management; it is a poor fit for a brand-new token whose price may move ten times in a day.
Which one for a launch?
- New token, standard SPL or Token-2022: Simple, supports both token standards, and fees can be set to match the token’s volatility.
- Existing token already on AMM v4: keep it there unless there is a reason to migrate. Splitting liquidity across pools weakens both.
- Established token with an active LP team: CLMM can give much tighter spreads, as long as someone manages the ranges.
What pool type means for volume campaigns
Pool design also decides what it costs to keep a chart active. Every trade pays the pool fee, so a Solana volume booster campaign in a 1% CPMM pool costs four times as much in fees as one in a 0.25% pool. Token-2022 transfer fees work like a tax on top of that. In CLMM pools, a campaign has to stay inside the range where liquidity exists, or trades fail or slip badly.
Boost Legends, a Telegram-based Solana volume bot (solanavolumebot.com, @boostlegends_bot), supports AMM v4, CLMM and CPMM pools and sizes trades to the pool it is running on. Its Raydium volume bot page lists which pool types it supports and what campaigns cost on each.
Summary
For most new Solana tokens in 2026, CPMM is the default: it is simple, supports Token-2022, and has flexible fees. AMM v4 remains where much of the older liquidity sits. CLMM is a tool for managed liquidity rather than for launches. Pick the pool type first, because it shapes trading costs for everyone, including you.
FAQ
What is the difference between Raydium CPMM and AMM v4?
Both use constant-product pricing, but CPMM doesn’t depend on OpenBook, supports Token-2022, and lets the creator choose a fee tier. AMM v4 has a fixed 0.25% fee and supports standard SPL tokens only.
Which Raydium pool type is best for a new token?
CPMM, for most launches. It is cheaper to create and supports both token standards.
Why do trades fail in a CLMM pool?
If the price moves outside the ranges where liquidity providers have placed capital, there is little or no liquidity left to trade against.
Where do Pump.fun tokens migrate now?
Since 2025, Pump.fun tokens migrate to PumpSwap, Pump.fun’s own AMM, instead of Raydium AMM v4.
