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Context

• Partner -> Launchpad (identified via the feeClaimer field in the DBC curve config)
• Creator -> Token Pool Creator (identified via the creator field in the DBC pool state)

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Example of a DBC Curve Config

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Curve Config Parameters

1. Head to launch.meteora.ag and use the UI to create your DBC curve config key.
2. Use the build curve functions in the DBC Typescript SDK to create your DBC curve config key. These build curve functions abstracts the math complexity of the bonding curve while still allowing you to have full control over the curve structure.
3. Doing the math and creating the curve config key manually and parsing it into the create_config instruction.

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Tokenomics Configuration

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tokenType

• 0: SPL Token
• 1: Token2022 Token

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tokenDecimal

• The number of token decimals of the baseMint token.

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tokenSupply

• The total token supply of the token can be set as fixed or dynamic
• If the token supply is set to fixed, you need to set the preMigrationTokenSupply and postMigrationTokenSupply fields.

tokenSupply: {
    preMigrationTokenSupply: new BN(1000000000000000),
    postMigrationTokenSupply: new BN(1000000000000000)
}

• If the token supply is set to dynamic, you can set tokenSupply as null.

{
    "tokenSupply": null
}

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tokenUpdateAuthority

• The token authority of the baseMint token that can be configured based on the launchpad’s preference.
• The token authority can be set to:
  • 0: CreatorUpdateAuthority would give the creator the authority to update the token metadata.
  • 1: Immutable would make the token metadata immutable and mint authority to be revoked.
  • 2: PartnerUpdateAuthority would give the partner the authority to update the token metadata.
  • 3: CreatorUpdateAndMintAuthority would give the creator the authority to update the token metadata and mint authority.
  • 4: PartnerUpdateAndMintAuthority would give the partner the authority to update the token metadata and mint authority.

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lockedVesting

• The vesting of baseMint tokens that can be configured based on the launchpad’s preference.
• This lockedVesting only starts after the pool has migrated.
• The tokens are locked in a lockEscrow powered by our Meteora Lock program.
• The lockedVesting is a struct that contains the following fields:
  • amountPerPeriod - The amount of tokens that will be unlocked per period (in lamports).
  • cliffDurationFromMigrationTime - The duration of the cliff period from the migration time.
  • frequency - The frequency of the vesting (in seconds).
  • numberOfPeriod - The number of periods of the vesting.
  • cliffUnlockAmount - The amount of tokens that will be unlocked at the cliff period (in lamports).

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Pre-Graduation DBC Configuration

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sqrtStartPrice

• The starting price of the token in the bonding curve pool in the sqrt price format.
• You can calculate the sqrtPrice from the price by using the following formula:
  • price = (sqrtPrice >> 64)^2 * 10^(tokenADecimal - tokenBDecimal)

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poolFees

• The pool fees comprises of the baseFee and dynamicFee

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baseFee

• The base fee is a struct the contains the following fields:
  • cliffFeeNumerator - The initial numerator of the pool fee.
  • firstFactor - Depending on the baseFeeMode, this field will be either numberOfPeriod or feeIncrementBps.
    • If the baseFeeMode is set to 0 or 1 (Fee Scheduler), this field will be numberOfPeriod.
    • If the baseFeeMode is set to 2 (Rate Limiter), this field will be feeIncrementBps.
  • secondFactor - Depending on the baseFeeMode, this field will be either periodFrequency or maxLimiterDuration.
    • If the baseFeeMode is set to 0 or 1 (Fee Scheduler), this field will be periodFrequency.
    • If the baseFeeMode is set to 2 (Rate Limiter), this field will be maxLimiterDuration.
  • thirdFactor - Depending on the baseFeeMode, this field will be either reductionFactor or referenceAmount.
    • If the baseFeeMode is set to 0 or 1 (Fee Scheduler), this field will be reductionFactor.
    • If the baseFeeMode is set to 2 (Rate Limiter), this field will be referenceAmount.
  • baseFeeMode - The mode of the base fee.
    • 0: Linear Fee Scheduler
    • 1: Exponential Fee Scheduler
    • 2: Rate Limiter

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dynamicFee

• The dynamic fee is an optional struct that contains the following fields:
  • binStep - u16 value representing the bin step in bps
  • binStepU128 - u128 value for a more accurate bin step
  • filterPeriod - Minimum time that must pass between fee updates
  • decayPeriod - Period after the volatility starts decaying (must be > filterPeriod)
  • reductionFactor - Controls how quickly volatility decys over time
  • maxVolatilityAccumulator - Multiplier that determines how much volatility affects fees
  • variableFeeControl - Caps the maximum volatility that can be accumulated

dynamicFee: {
    binStep: 1,
    binStepU128: new BN(1844674407370955),
    filterPeriod: 10,
    decayPeriod: 120,
    reductionFactor: 5000,
    maxVolatilityAccumulator: 14460000,
    variableFeeControl: 956
}

• The dynamic fee can be set to null if you don’t want to enable the dynamic fee.

dynamicFee: null

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creatorTradingFeePercentage

• By default, if the creatorTradingFeePercentage === 0, the creator will not receive any trading fees from the pre-graduation DBC pool, and all the fees will go to the feeClaimer which belongs to the partner launchpad.
• The creatorTradingFeePercentage is a u16 value representing the trading fee in percentage.

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activationType

• The activationType is a u8 value representing the activation type of the DBC pool.
  • 0: Slot -> Calculated in terms of slots (0.4 seconds = 400ms).
  • 1: Timestamp -> Calculated in terms of seconds. (1 second = 1000ms)

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collectFeeMode

• The collectFeeMode is a u8 value representing the collect fee mode of the DBC pool.
  • 0: Quote Token -> The trading fees collected in the pre-graduation DBC pool is collected in the quote token.
  • 1: Output Token -> The trading fees collected in the pre-graduation DBC pool is collected in the output token.

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migrationQuoteThreshold

• The migrationQuoteThreshold is a u128 value representing the amount of quote token that will be needed to be collected in the pre-graduation DBC pool to qualify for the pool to be ready for migration.
• In order for the token to graduate from pre-graduation to post-graduation, the poolState.quoteReserve must be greater than or equal to the poolConfig.migrationQuoteThreshold.
• If you want your pool to automatically migrate when the poolState.quoteReserve is greater than or equal to the poolConfig.migrationQuoteThreshold, you would need to set the migrationQuoteThreshold to have a minimum value of 750 USD. You can read more about our migration keepers here

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migrationFee

• The migrationFee is the amount of quote token that you want to collect as fee when the token pool migrates from pre-graduation to post-graduation.
• This migrationFee will be collected from the migrationQuoteThreshold amount of quote token.
• The migrationFee is a struct that contains the following fields:
  • feePercentage - The fee percentage of the migration fee. The value must be between 0% and 50%.
  • creatorFeePercentage - The fee percentage of the creator fee. The value must be between 0% and 100%.
• For example, if you want to collect 10% fee of the migrationQuoteThreshold amount of quote token, you would need to set the migrationFee to:

migrationFee: {
    feePercentage: 10,
    creatorFeePercentage: 0
}

• Additionally, if you want to fee split 50% of this 10% fee between the partner and creator, you can set the creatorFeePercentage to 50.

migrationFee: {
    feePercentage: 10,
    creatorFeePercentage: 50
}

• So essentially, if your migrationQuoteThreshold is 100 SOL, a 10% migrationFee would mean that 90 SOL will be migrated to the post-graduation pool’s LP, and the remaining 10 SOL will be collected as fee.

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curve

• The curve is an array of objects that contains the following fields:
  • sqrtPrice - The sqrt price of the curve segment.
  • liquidity - The liquidity of the curve segment.
• When configuring the curve segments, you would need to adhere to the math formulas of the bonding curve to ensure that the curve is valid.

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Post-Graduation DAMM Pool Configuration

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migrationOption

• The migrationOption is a u8 value representing the type of the post-graduation pool after the bonding curve has completed.
  • 0: DAMM v1 -> The pool will be migrated to a DAMM v1 pool.
  • 1: DAMM v2 -> The pool will be migrated to a DAMM v2 pool.

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migrationFeeOption

• The migrationFeeOption are fee configs that have been pre-defined for the DBC Pool Authority to use.
• You can find the list of the pre-defined fee configs here.
  For DAMM v1, the collectFeeMode of the post-graduation pool is set to Output Token.
  For DAMM v2, the collectFeeMode of the post-graduation pool is set to Quote Token. Additionally, because dynamic fee is enabled in the DAMM v2 fee config, there will be an additional 20% of the chosen base fee added to the total fee.
• The migrationFeeOption is a u8 value representing the pool fee of the post-graduation pool.
  • 0: FixedBps25 -> The pool fee of the post-graduation pool will be 25 bps.
  • 1: FixedBps30 -> The pool fee of the post-graduation pool will be 30 bps.
  • 2: FixedBps100 -> The pool fee of the post-graduation pool will be 100 bps.
  • 3: FixedBps200 -> The pool fee of the post-graduation pool will be 200 bps.
  • 4: FixedBps400 -> The pool fee of the post-graduation pool will be 400 bps.
  • 5: FixedBps600 -> The pool fee of the post-graduation pool will be 600 bps.
  • 6: Cuztomizable -> Only if your migrationOption is set to DAMM v2. You can set the pool fees of the post-graduation pool in the migratedPoolFee struct.

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migratedPoolFee

• The migratedPoolFee is only available if your migrationOption is set to DAMM v2 and migrationFeeOption is set to Cuztomizable [6].
• The migratedPoolFee is a struct that contains the following fields:
  • collectFeeMode - The collect fee mode of the post-graduation pool.
  • dynamicFee - The dynamic fee of the post-graduation pool.
  • poolFeeBps - The pool fee of the post-graduation pool.

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lpPercentage

• There are 4 types of LP Percentage parameters that you can configure.
• These 4 LP Percentage parameters must add up to 100%.
  • partnerLpPercentage - The percentage of the LP that will be allocated to the partner in the graduated pool (0-100)
  • creatorLpPercentage - The percentage of the LP that will be allocated to the creator in the graduated pool (0-100)
  • partnerLockedLpPercentage - The percentage of the locked LP that will be allocated to the partner in the graduated pool (0-100)
  • creatorLockedLpPercentage - The percentage of the locked LP that will be allocated to the creator in the graduated pool (0-100)

// All the LP are locked forever in the post-graduation pool
lpPercentage: {
    partnerLpPercentage: 0,
    creatorLpPercentage: 0,
    partnerLockedLpPercentage: 50,
    creatorLockedLpPercentage: 50
}

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Creating the Curve Config

1. config - The DBC curve config account public key. This will be the address that stores the curve config settings.
2. quoteMint - The quote mint public key that will be paired with the base mint. All pools created with this DBC curve config address will be paired with this quote mint.
3. feeClaimer - The fee claimer public key is a wallet signer address that will belong to the launchpad to claim the partner fees.
4. leftoverReceiver - The leftover receiver public key is a wallet that will receive the leftover tokens in the bonding curve after the pool has migrated.
5. payer - The payer public key is a wallet signer that will pay for the creation of the DBC curve config account.

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Build Curve Helper functions

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buildCurve

• This function is useful when you want to create a curve config with a specific migrationQuoteThreshold and percentageSupplyOnMigration.
• The percentageSupplyOnMigration is the percentage of the total token supply that you want to be migrated into the post-graduation pool’s LP.

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buildCurveWithMarketCap

• This function is useful when you want to create a curve config that has a specific starting token price and an ending migration token price.
• The initialMarketCap is the initial market cap of the token when the pre-graduation pool is first created.
• The migrationMarketCap is the market cap of the token when the pre-graduation pool is ready to migrate to the post-graduation pool.

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buildCurveWithTwoSegments

• This function is useful when you want to create a 2 constant product curve structure with a specific initialMarketCap, migrationMarketCap and percentageSupplyOnMigration.
• The percentageSupplyOnMigration is the percentage of the total token supply that you want to be migrated into the post-graduation pool’s LP.
• The initialMarketCap is the initial market cap of the token when the pre-graduation pool is first created.
• The migrationMarketCap is the market cap of the token when the pre-graduation pool is ready to migrate to the post-graduation pool.

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buildCurveWithLiquidityWeights

• This function is useful when you want to create a curve config with a unique price action (flat, exponential, etc.) with a specific initial market cap, migration market cap and liquidity weights.
• The liquidityWeights is an array of values that you want to be the exponent of the liquidity of the curve segments. Using these liquidity weights, you can control how thick or thin each curve segment’s liquidity is to control the price action of the curve.
• The initialMarketCap is the initial market cap of the token when the pre-graduation pool is first created.
• The migrationMarketCap is the market cap of the token when the pre-graduation pool is ready to migrate to the post-graduation pool.