VYLO pools

VYLO pools live in VYLO's own program. There is no other protocol in between, so no extra protocol fee and no outside data dependency. They are the simplest kind of pool (constant product, full range), which makes them a good home for new tokens and for agents that should not need range management.

After every swap the program checks that reserve_in x reserve_out did not decrease. The LP fee stays in the pool, so LP tokens are worth more over time. 5% of the fee is set aside for the protocol and excluded from the reserves until it is collected.

1. 1
   Create

   Anyone creates a pool for two tokens and a fee tier between 0.01% and 10%, and seeds it with both tokens. The creator receives sqrt(a x b) - 1000 LP tokens. The 1,000 units are locked forever, which makes share-price manipulation by the first depositor impossible.
2. 2
   Deposit

   LPs add both tokens in the current ratio and receive LP tokens. The amounts round up so the pool never loses value.
3. 3
   Swap

   Traders swap with a minimum output. The fee goes to LPs; 5% of it accrues to the protocol.
4. 4
   Withdraw

   LPs burn LP tokens and receive both tokens pro rata, with minimum amounts as slippage protection.
5. 5
   Collect

   Anyone can trigger collection of the protocol share. It is paid 40/40/20 to buyback, stakers and team, read from the Fee Router config.

SPL Token and Token-2022 mints are supported. Token-2022 mints with transfer fees, transfer hooks, a permanent delegate, confidential transfers, non-transferable status or frozen-by-default accounts are rejected, because each of them can break pool accounting or let a third party move pool funds.