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Documentation Index

Fetch the complete documentation index at: https://docs.meteora.ag/llms.txt

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Alpha Vault accounting is proportional: the vault buys as one account, then users receive token claims and quote refunds based on their escrow deposit share. All on-chain arithmetic uses integer token amounts. Division rounds down.

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Key Terms

TermMeaning
total_depositTotal net quote amount recorded across all escrows.
escrow.total_depositNet quote amount recorded for one escrow.
max_buying_capPro Rata quote amount cap for vault fills.
max_depositing_capFCFS total accepted deposit cap.
swapped_amountTotal quote amount already used by vault fills.
bought_tokenTotal launch token bought by the vault.
claimed_tokenLaunch token already claimed by an escrow.
withdrawn_deposit_overflowPro Rata overflow quote already withdrawn by an escrow.

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Max Swappable Amount

The max swappable amount is mode-dependent. Pro Rata Max Swappable=min⁡(total_deposit,max_buying_cap)\text{Pro Rata Max Swappable} = \min(\text{total\_deposit}, \text{max\_buying\_cap}) FCFS Max Swappable=total_deposit\text{FCFS Max Swappable} = \text{total\_deposit} Each fill instruction also takes a max_amount, so the actual amount for that fill is: Fill Swappable Amount=min⁡(Max Swappable Amount−swapped_amount,max_amount)\text{Fill Swappable Amount} = \min(\text{Max Swappable Amount} - \text{swapped\_amount}, \text{max\_amount})

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User Deposit Share

Most user-facing amounts use the escrow’s share of total vault deposits. User Share=escrow.total_deposittotal_deposit\text{User Share} = \frac{\text{escrow.total\_deposit}}{\text{total\_deposit}} Because this is integer math on-chain, the program multiplies before dividing and rounds down.

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Linear Vesting

The program treats both endpoints as inclusive by adding 1 to the numerator and denominator. Vesting Duration=end_vesting_point−start_vesting_point+1\text{Vesting Duration} = \text{end\_vesting\_point} - \text{start\_vesting\_point} + 1 Elapsed Duration=min⁡(current_point,end_vesting_point)−start_vesting_point+1\text{Elapsed Duration} = \min(\text{current\_point}, \text{end\_vesting\_point}) - \text{start\_vesting\_point} + 1 Total Claimable Token=bought_token×Elapsed DurationVesting Duration\text{Total Claimable Token} = \text{bought\_token} \times \frac{\text{Elapsed Duration}}{\text{Vesting Duration}} Claims are not allowed before start_vesting_point.

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User Claimable Token

Escrow Dripped Token=Total Claimable Token×escrow.total_deposittotal_deposit\text{Escrow Dripped Token} = \text{Total Claimable Token} \times \frac{\text{escrow.total\_deposit}}{\text{total\_deposit}} User Claimable Token=Escrow Dripped Token−escrow.claimed_token\text{User Claimable Token} = \text{Escrow Dripped Token} - \text{escrow.claimed\_token} After a claim, the program increments both the escrow’s claimed_token and the vault’s total_claimed_token.

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Pro Rata Overflow Refund

Overflow is the part of total deposits that cannot be included in max swappable amount. Deposit Overflow=total_deposit−Max Swappable Amount\text{Deposit Overflow} = \text{total\_deposit} - \text{Max Swappable Amount} Escrow Overflow Refund=Deposit Overflow×escrow.total_deposittotal_deposit\text{Escrow Overflow Refund} = \text{Deposit Overflow} \times \frac{\text{escrow.total\_deposit}}{\text{total\_deposit}} An escrow can withdraw this overflow after last_join_point and through last_buying_point. The program tracks withdrawn_deposit_overflow so repeated withdrawals only receive the remaining overflow amount.

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Final Remaining Quote Refund

After the pool’s last_buying_point, an escrow can withdraw its share of quote left in the vault. Remaining Quote=total_deposit−swapped_amount\text{Remaining Quote} = \text{total\_deposit} - \text{swapped\_amount} Escrow Total Refund Quote=Remaining Quote×escrow.total_deposittotal_deposit\text{Escrow Total Refund Quote} = \text{Remaining Quote} \times \frac{\text{escrow.total\_deposit}}{\text{total\_deposit}} Final Refund Transfer=Escrow Total Refund Quote−escrow.withdrawn_deposit_overflow\text{Final Refund Transfer} = \text{Escrow Total Refund Quote} - \text{escrow.withdrawn\_deposit\_overflow} The escrow is then marked as refunded so the final remaining quote path cannot be used twice.

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FCFS Accepted Deposit

In FCFS mode, the program limits the accepted deposit amount before transfer. Remaining Vault Capacity=max_depositing_cap−total_deposit\text{Remaining Vault Capacity} = \text{max\_depositing\_cap} - \text{total\_deposit} Remaining User Quota=User Cap−escrow.total_deposit\text{Remaining User Quota} = \text{User Cap} - \text{escrow.total\_deposit} Accepted Deposit=min⁡(requested net amount,Remaining Vault Capacity,Remaining User Quota)\text{Accepted Deposit} = \min( \text{requested net amount}, \text{Remaining Vault Capacity}, \text{Remaining User Quota} ) If the accepted amount is 0, the deposit fails.

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Token 2022 Transfer Fees

When the quote mint has a Token 2022 transfer fee, the vault records the fee-excluded amount as the deposit. It transfers the fee-included amount from the user so that the vault receives the intended net amount. Recorded Deposit=Transfer Amount−Transfer Fee\text{Recorded Deposit} = \text{Transfer Amount} - \text{Transfer Fee} For outbound claims and refunds, emitted event amounts are fee-excluded when a transfer fee applies.
Formula examples describe the accounting path. Actual token balances can also be affected by Token 2022 transfer fees and transfer-memo requirements on destination accounts.