M3M3 | Meteora

Last updated 4 days ago

Overview

M3M3 is a where top memecoin stakers compete to earn fee rewards from permanently-locked liquidity in the memecoin pool, transforming memecoins from a race to dump to a race to stake.

As a highly-configurable mechanism that can be used by launchpads, creators, and holders, we believe M3M3 has the potential to greatly incentivize both staking and trading, and in turn bring more sustainable revenue and dynamics to memecoins.

Getting Started

SDK:
NPM:
Program ID: FEESngU3neckdwib9X3KWqdL7Mjmqk9XNp3uh5JbP4KP
PDA seeds:

API

Mainnet API endpoint:
Devnet API endpoint:
API endpoint to get vault info from pool address:

1. Install Dependencies

2. Initialize StakeForFee Instance

3. To interact with StakeForFee

Stake

Get stake balance and claimable balance

Claim Fee

Unstake

Get unstake period (Seconds)

Cancel unstake

Withdraw

How to create a Memecoin Pool with M3M3

Code Example

This code example includes the steps to:

Mint a token
Create dynamic vault and pool
Create M3M3 fee vault
Lock user's LP to M3M3 fee vault

Note: Difference between locking liquidity via M3M3 vs directly locking liquidity in the Memecoin Pool

User lock and M3M3 lock use the same lock mechanism on a Dynamic AMM / Memecoin Pool. But users and M3M3 vaults have their own personal lock escrow account for the pool.
When a user permanently locks liquidity directly on the Memecoin Pool page, the user is locking the LP token to their OWN personal escrow account. Therefore, fees from locked liquidity go to the user's wallet.
When a user locks via the M3M3 creation process, the user is locking the LP to the M3M3 escrow account. Therefore, fees from locked liquidity go to the M3M3 vault, which then distributes fees to the top stakers.

Last updated 4 days ago

import AmmImpl from "@mercurial-finance/dynamic-amm-sdk"; import { NATIVE_MINT } from "@solana/spl-token"; import { Connection, Keypair, PublicKey } from "@solana/web3.js"; import BN from "bn.js"; import { StakeForFee } from "../stake-for-fee"; import { DEFAULT_KEYPAIR_PATH, DEVNET_URL, handleSendTransaction, initializeMintAndMint, loadKeypairFromFile, } from "./utils"; import { createFeeVault, createPool, lockLiquidityToFeeVault } from "./actions"; import { U64_MAX } from "../stake-for-fee/constants"; const connection = new Connection(DEVNET_URL); const poolConfigKey = new PublicKey( "BdfD7rrTZEWmf8UbEBPVpvM3wUqyrR8swjAy5SNT8gJ2" ); const mintADecimal = 9; const mintANativeAmountMultiplier = 10 ** mintADecimal; const mintAmount = 10_000; const stakeFarmAmount = 1_000; async function createPoolAndInteractWithFeeVaultExample() { const keypair = loadKeypairFromFile(DEFAULT_KEYPAIR_PATH); console.log(`Wallet ${keypair.publicKey} connected`); const amountAToMint = BigInt(mintAmount) * BigInt(mintANativeAmountMultiplier); const amountAToDeposit = BigInt(mintAmount - stakeFarmAmount) * BigInt(mintANativeAmountMultiplier); // 1,000 reserve to stake const amountB = BigInt(1_000_000); console.log("Create mint A"); const mintA = await initializeMintAndMint( connection, keypair, keypair, mintADecimal, amountAToMint ); console.log("1. Create dynamic vaults and pool"); const poolKey = await createPool( keypair, mintA, NATIVE_MINT, new BN(amountAToDeposit.toString()), new BN(amountB.toString()), poolConfigKey ); const pool = await AmmImpl.create(connection, poolKey); console.log("2. Create fee vault"); const currentSlot = await connection.getSlot("confirmed"); const currentOnchainTimestamp = await connection.getBlockTime(currentSlot); // Number of top stakers const topListLength = 10; // Number of seconds to withdraw unstaked token const unstakeLockDuration = new BN(3600 * 24); // Number of seconds for the swap fee fully dripped to stakers const secondsToFullUnlock = new BN(3600 * 24 * 7); // Timestamp to start fee distribution / drip to stakers const startFeeDistributeTimestamp = new BN(currentOnchainTimestamp + 10); // delay 10 seconds to be able to claim await createFeeVault( poolKey, pool.poolState.tokenAMint, keypair, topListLength, unstakeLockDuration, secondsToFullUnlock, startFeeDistributeTimestamp ); console.log("3. Lock user LP for fee vault"); await lockLiquidityToFeeVault(poolKey, pool, keypair, 10_000); // 10_000 means 100% of LP is being lock console.log("4. Connect to the fee vault"); const feeVault = await StakeForFee.create(connection, poolKey); console.log("5. Stake amount"); const stakeAmount = new BN( (BigInt(stakeFarmAmount) * BigInt(mintANativeAmountMultiplier)).toString() ); // 1,000 stake token (make sure you have enough balance in your wallet) const stakeTx = await feeVault.stake(stakeAmount, keypair.publicKey); const stakeSignature = await handleSendTransaction( connection, stakeTx, keypair ); console.log("Stake Signature", stakeSignature); console.log("6. Get stake balance"); await feeVault.refreshStates(); const userEscrow = await feeVault.getUserStakeAndClaimBalance( keypair.publicKey ); const stakeBalance = userEscrow.stakeEscrow.stakeAmount.toNumber() / 10 ** feeVault.accountStates.tokenAMint.decimals; console.log("Stake Balance", stakeBalance); const claimableFeeA = (userEscrow.unclaimFee.feeA.toNumber() || 0) / 10 ** feeVault.accountStates.tokenAMint.decimals; console.log("Claimable Fee A", claimableFeeA); const claimableFeeB = (userEscrow.unclaimFee.feeB.toNumber() || 0) / 10 ** feeVault.accountStates.tokenBMint.decimals; console.log("Claimable Fee B", claimableFeeB); console.log("7. Claim fee"); const claimFeeTx = await feeVault.claimFee( keypair.publicKey, new BN(U64_MAX) ); for (const [index, tx] of claimFeeTx.entries()) { const signature = await handleSendTransaction(connection, tx, keypair); console.log(`Claim Fee Signature ${index + 1}`, signature); } console.log("8. Unstake"); const unstakeKeyPair = new Keypair(); const unstakeTx = await feeVault.unstake( userEscrow.stakeEscrow.stakeAmount, unstakeKeyPair.publicKey, keypair.publicKey ); const unstakeSignature = await handleSendTransaction(connection, unstakeTx, [ unstakeKeyPair, keypair, ]); console.log("Unstake Signature", unstakeSignature); console.log("9. Cancel unstaked"); const cancelUnstake = await feeVault.cancelUnstake( unstakeKeyPair.publicKey, keypair.publicKey ); const cancelUnstakeSignature = await handleSendTransaction( connection, cancelUnstake, keypair ); console.log("Cancel Unstake Signature", cancelUnstakeSignature); // ⚠️ This only works after unstake period is over console.log("10. Withdraw unstake"); const withdrawUnstake = await feeVault.withdraw( unstakeKeyPair.publicKey, keypair.publicKey ); const withdrawUnstakeSignature