Overview
DOME is one pool for every dollar stablecoin on Solana. USDC, USDT, PYUSD and any other listed dollar sit in the same pool, and any of them swaps to any other in one instruction.
The design is Orbital, by Dave White, Dan Robinson and Ciamac Moallemi (Paradigm, 2025). Paradigm published it as a design. DOME is a Solana program that implements it. The design is theirs; the program, its fixed point arithmetic and its Solana accounts are ours.
What it does
| You want to | You call | What happens |
|---|---|---|
| Swap one dollar for another | swap | One hop through every band of the pool, 2 basis point fee |
| Earn fees | open_position, then add_liquidity | You pick a band (how close to $1 you stand) and deposit every coin of the pool |
| Leave | remove_liquidity, collect_fees, close_position | You take back your share of every coin and your fees, then your rent |
| Burn DOME | convert_fees, then buy_and_burn | Anyone can turn the protocol's share of fees into DOME and burn it |
The idea in three sentences
- The reserves of all coins in the pool are one point on a sphere. At $1 for every coin, the point sits at the sphere's equal price point.
- Liquidity sits in bands: caps around that point. A narrow band only covers prices very close to $1, so the same capital quotes much deeper there.
- When one coin falls, every band whose edge it reaches stops absorbing it and keeps trading the other coins. The damage of a depeg stays inside the bands that chose to stand near it.
What DOME is not
- It is not an oracle-priced pool. Prices come only from the reserves.
- It is not a lending market and holds no debt.
- It has no admin who can pause, list, delist or move funds. The only privileged step is one launch call,
init_config, which names the DOME mint and the market where fees buy it.
Launch bands
Every pool has the same eight bands, set in constants.rs as BAND_DEPEG_PPM:
| Band | Stops absorbing a falling coin at |
|---|---|
| 0 | $0.999 |
| 1 | $0.998 |
| 2 | $0.995 |
| 3 | $0.990 |
| 4 | $0.980 |
| 5 | $0.950 |
| 6 | $0.900 |
| 7 | full band, every positive price |
Read next
- How it works for the geometry
- Getting started for a first swap and deposit
- The paper: Orbital, paradigm.xyz