Pool Ninja

Under watch

A ninja keeps the pool.

nUSDC, nUSDT, nPYUSD, nUSDe, nEURC, nFDUSD, nGHO, and nUSDS sit in one book. The watch stays on the reserves, so a slip in one coin does not walk off with the rest. Pay, amount, and receive still draw on the whole book.

  • nUSDC
  • nUSDT
  • nPYUSD
  • nUSDe
  • nEURC
  • nFDUSD
  • nGHO
  • nUSDS

Solana devnet. The watch is already on. Connect, then step in.

Six separate markets

Split
Route
nUSDC / nUSDe
Another
nUSDC / nUSDT
Size you touch
That pair only
If a coin slips
That market pays

Each pair keeps its own depth. Size parked in one market never reaches the others.

A guarded book

Watch
You pay
nUSDC
You receive
nEURC
Size you touch
The whole lineup
If a coin slips
That floor stops

One ninja keeps this book. A floor can stop. The reserves beside it stay.

Side by side

Don’t split the depth six ways.

A pair market makes you pick a lane. Pool Ninja holds the basket in one place and keeps most of the capital where a dollar actually trades.

QuestionSeparate pairsPool Ninja
Coins in the quote24, one reserve
nUSDC into nUSDeOnly that pair’s sizeThe shared balances
Where the seed sitsEach pair’s own rangeEight floors around $1
One coin breaksThe pair keeps quotingThat floor stops
FeeChosen per market1 bp

The curve

Every route reads one surface.

Pool Ninja is an automated market maker. The lineup shares one reserve. Any swap moves that same reserve, so one pool covers the routes between these coins.

  1. Surface

    Σ (r − xi)2 = r2

    r is the radius. xi is how much of coin i is in the book. Every price stays on this surface.

  2. Quote

    pi→j = (r − xj) / (r − xi)

    Coin i paid for one coin j. The coin with the larger balance is the cheaper one.

  3. Opening balances

    xi = r (1 − 1/√n)

    Four coins means √4 = 2, so each balance starts at r / 2. That is the opening seed.

  4. Fee

    fee = amount / 10,000

    One basis point, taken as you pay in. It stays in the vault and does not feed back into the price.

  5. Floor check

    min(r − x) / max(r − x) × 10,000

    The cheapest coin, in basis points of $1. A floor freezes once the price falls through it.

  6. After a freeze

    r′ = r × new sum / old sum

    Frozen balances leave the quote and the radius shrinks with them. One swap can freeze at most three floors.

The opening seed is cut into eight floors: 40% above $0.9995, then 27%, 15%, 8%, 4%, 3%, 2%, and 1% across the full range. Tight floors do the trading near a dollar. A broken coin retires those floors and leaves the wider ones standing. Rounding favors the pool.

A swap

Three fields. A different book.

The form still asks what you pay, how much, and what comes back. The reserve behind those fields is what changed.

  1. 01

    The lineup sits together

    nUSDC, nUSDT, nPYUSD, nUSDe, nEURC, nFDUSD, nGHO, and nUSDS sit in one lineup. Swapping nUSDC for nUSDT moves the same balances as swapping nPYUSD for nUSDe.

    six routes, one book
  2. 02

    Choose a floor

    Most of the seed is stacked close to $1. A tight floor earns more while the peg holds. A wide floor stays through a bigger slip.

    $0.9995 down to full range
  3. 03

    Name the two coins

    You still choose what you pay, how much, and what you receive. Both coins read the shared reserve, so size is not stuck in one pair.

    exact in, exact out
  4. 04

    A broken floor steps aside

    If a coin falls through a floor, that slice stops quoting. Liquidity that stayed on a tighter floor is not pulled into the break.

    1 bp, kept by the pool

On chain

Settled on Solana devnet.

Point the wallet at devnet before you sign. These are the mints in the book and the deployer that seeded them.

Floors

The seed leans toward $1.

The book stays under watch.

Pay one stablecoin and receive another. The ninja keeps both sides on the same reserve.