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Determinism.fun uses Mint + Swap for buying and Swap + Burn for selling. This approach is more capital efficient than traditional AMMs while maintaining the protocol invariant. mint - complete sets

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Buying shares

1

Deposit Collateral

Transfer 100 USDC to the protocol vault
2

Mint Equal Pairs

Protocol mints 100 X + 100 Y shares to your wallet
3

pm-AMM Swap

Unwanted shares (100 Y) swap for desired shares (+86.2 X)
4

Result

You receive 186.2 X shares total

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Market Changes

Check out the simulator to setup more complex trades.

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Selling Tokens

You want to sell 50 X shares.
1

Protocol Finds Optimal Split

Calculates best ratio: how much to swap vs. burn
2

pm-AMM Swap

Trade 21.8 X shares → 28.2 Y shares in the pool
3

Burn Equal Pairs

Burn 28.2 X + 28.2 Y pairs → receive 28.2 USDC
4

Result

You receive 28.2 USDC after selling 50 X shares

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Market Changes

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Why Swap First?

The key insight: you need equal amounts of X and Y to burn pairs and redeem USDC. If you only have X tokens, you must:
  1. Swap some X → Y tokens
  2. Burn the resulting X + Y pairs
  3. Maximize USDC returned
The protocol automatically calculates the optimal swap amount. You just click “Sell” and it handles the rest.