Raydium CPMM (Constant Product Market Maker) is a pool type on the Raydium DEX that uses the standard x*y=k constant product formula for pricing. It is the newer of Raydium's two main pool architectures alongside AMM v4.

In a CPMM pool, the product of the two token reserves must remain constant after each trade (minus fees). This automatically adjusts prices as the ratio of tokens in the pool changes. CPMM pools support full-range liquidity across all prices.

CPMM is widely used for token launches on Solana because it is straightforward, well-understood, and integrates with most Solana tooling. LP tokens from CPMM pools are fungible and easily transferable.