Lux Docs

The LSSVM module (contracts/lssvm/) implements a sudoswap-style NFT AMM. Instead of traditional NFT listings, sellers deposit NFTs into bonding curve pools where pricing adjusts automatically with each trade.

Contracts

Contract	Import	Purpose
LSSVMPairFactory	`@luxfi/contracts/lssvm/LSSVMPairFactory.sol`	Deploys new pair pools
LSSVMPair	`@luxfi/contracts/lssvm/LSSVMPair.sol`	NFT/token trading pair
LSSVMRouter	`@luxfi/contracts/lssvm/LSSVMRouter.sol`	Multi-pool swap routing
LinearCurve	`@luxfi/contracts/lssvm/LinearCurve.sol`	Linear bonding curve
ExponentialCurve	`@luxfi/contracts/lssvm/ExponentialCurve.sol`	Exponential bonding curve

Pool Types

Type	Description
Token pool	Sells tokens, buys NFTs (bid-side liquidity)
NFT pool	Sells NFTs, buys tokens (ask-side liquidity)
Trade pool	Both buys and sells (spread-based market making)

Bonding Curves

Linear Curve

Price changes by a fixed delta with each trade:

Buy:  price = spotPrice + delta
Sell: price = spotPrice - delta

Exponential Curve

Price changes by a percentage delta with each trade:

Buy:  price = spotPrice * (1 + delta)
Sell: price = spotPrice / (1 + delta)

Creating a Pool

import "@luxfi/contracts/lssvm/LSSVMPairFactory.sol";

LSSVMPairFactory factory = LSSVMPairFactory(FACTORY_ADDRESS);

// Create a trade pool with linear curve
LSSVMPair pair = factory.createPairETH(
    nftCollection,          // ERC721 address
    linearCurve,            // bonding curve contract
    LSSVMPair.PoolType.TRADE,
    1e17,                   // delta: 0.1 ETH per trade
    0,                      // fee: 0%
    1e18,                   // spotPrice: 1 ETH
    nftIds                  // initial NFT IDs to deposit
);

Trading

Buying NFTs

import "@luxfi/contracts/lssvm/LSSVMRouter.sol";

LSSVMRouter router = LSSVMRouter(ROUTER_ADDRESS);

// Buy specific NFTs from a pool
LSSVMRouter.PairSwapSpecific[] memory swaps = new LSSVMRouter.PairSwapSpecific[](1);
swaps[0] = LSSVMRouter.PairSwapSpecific(pair, nftIds);

uint256 totalCost = router.swapETHForSpecificNFTs{value: maxCost}(
    swaps,
    payable(msg.sender),  // NFT recipient
    msg.sender,           // refund address
    block.timestamp       // deadline
);

Selling NFTs

// Sell NFTs into a pool for ETH
LSSVMRouter.PairSwapSpecific[] memory swaps = new LSSVMRouter.PairSwapSpecific[](1);
swaps[0] = LSSVMRouter.PairSwapSpecific(pair, nftIds);

uint256 totalReceived = router.swapNFTsForToken(
    swaps,
    minOutput,
    payable(msg.sender),  // token recipient
    block.timestamp       // deadline
);

Custom Curves

Implement the ICurve interface to create custom pricing logic:

import "@luxfi/contracts/lssvm/ICurve.sol";

contract SigmoidCurve is ICurve {
    function getBuyInfo(
        uint128 spotPrice,
        uint128 delta,
        uint256 numItems,
        uint256 feeMultiplier,
        uint256 protocolFeeMultiplier
    ) external pure returns (
        CurveErrorCodes.Error error,
        uint128 newSpotPrice,
        uint128 newDelta,
        uint256 inputValue,
        uint256 protocolFee
    ) {
        // Custom pricing logic
    }
}

Fee Structure

Pool creators set a spread fee (in basis points) that applies to each trade. The protocol also takes a small fee on each swap, directed to the DAO treasury via the FeeSplitter.

NFT AMM (LSSVM)