Create: Memecoin Pool with Alpha Vault

Summary

Memecoin Pools are a subset of Dynamic AMM Pools. A Memecoin Pool is a Dynamic AMM Pool that has a fee scheduler, with liquidity permanently locked at pool creation.

Below we provide the code examples that can be used to initialize and seed a Memecoin Pool together with an Alpha Vault.

  • Memecoin Pool: A Dynamic AMM Pool created with a fee scheduler and with initial liquidity perma-locked.

  • Alpha Vault: Anti-sniper tool that allows depositors into the Alpha Vault to be the first to buy from the pool and be guaranteed a share of tokens at the same average price as all other depositors.

Getting Started

1. Install dependencies and initialize AmmImpl instance

1.1 Install dependencies

# NPM
npm i @meteora-ag/dynamic-amm-sdk @coral-xyz/anchor @solana/web3.js @solana/spl-token
# YARN
yarn add @meteora-ag/dynamic-amm-sdk @coral-xyz/anchor @solana/web3.js @solana/spl-token
# Or, use any package manager of your choice.

1.2 Initialize AmmImpl instance

import AmmImpl, { MAINNET_POOL } from '@meteora-ag/dynamic-amm-sdk';
import { Connection, Keypair, PublicKey } from '@solana/web3.js';
import { AnchorProvider, Wallet } from '@coral-xyz/anchor';

// Connection, Wallet, and AnchorProvider to interact with the network
const mainnetConnection = new Connection('https://api.mainnet-beta.solana.com');
const mockWallet = new Wallet(new Keypair());
const provider = new AnchorProvider(mainnetConnection, mockWallet, {
  commitment: 'confirmed',
});
// Alternatively, to use Solana Wallet Adapter

// Create single instance
const constantProductPool = await AmmImpl.create(mainnetConnection, MAINNET_POOL.USDC_SOL);
const stablePool = await AmmImpl.create(mainnetConnection, MAINNET_POOL.USDT_USDC);
// Or with any other pool address, refer to the pool creation section below
const pool = await AmmImpl.create(mainnetConnection, new PublicKey('...'));

// If you need to create multiple, can consider using `createMultiple`
const pools = [MAINNET_POOL.USDC_SOL, MAINNET_POOL.USDT_USDC];
const [constantProductPool, stablePool] = await AmmImpl.createMultiple(mainnetConnection, pools);

2. Choose a suitable Pool and Fee Config

Before creating the pool, you need to choose a suitable pool and fee config.

What fee parameters to choose depends on your project's needs. You will need to look at the pool config list and choose a suitable pool_config_key with your preferred fee parameters.

If you want to create an Alpha Vault along with your new pool, you also need to find a pool_config_key that is mapped to a vault_config_key that meets your requirements.

If none of the pool_config_key in the list meet your requirements, please reach out to Meteora for a custom pool config key.

2.1 Public Pool Config List

2.2 Default Pool Config used by Meteora Frontend

  • By default, Meteora's frontend is currently using this pool config key for Memecoin Pool creation: FiENCCbPi3rFh5pW2AJ59HC53yM32eLaCjMKxRqanKFJ

  • For the FiENCCbPi3rFh5pW2AJ59HC53yM32eLaCjMKxRqanKFJ pool config, it doesn't allow creation of any Alpha Vault, therefore it's field vault_config_key is 1111111...

2.3 New Custom Pool Config and Fee Curve for Integrators / Launchpads

Custom Pool Config Key: Integrators such as launchpads or other partners may need to use their own unique custom pool config key, if they want custom pool_creator_authority to prevent front-running of the token launch pool.

NOTE:

  • New dedicated config keys can only be created by Meteora. Please reach out to us if this is required.

  • The pool_creator_authority doesn't work with program address. It's not a program whitelist, it needs to be a PDA (program derived address) or normal account.

Custom Fee Curve: If you are an integrator, Meteora can also apply a custom fee curve/schedule for your pools, but we will need to create a dedicated config key for your team, where pool_creator_authority is linked to your signer wallet for pool creation. You would need to send us your signer wallet that would be used to deploy the pools.

NOTE:

  • Even with a dedicated config key for your team, Meteora would need to customize the fee curve/schedule for you. You can't do it on your own.

  • Custom Pool Config and Fee Curve is used by integrators such as Moonshot by DEX Screener.

2.4 Custom Fee Curve for a Specific Pool

If required, Meteora can set a custom fee curve for a single, specific pool. This would override the fee curve used by the pool's config key, doesn't matter which config key is used.

Note: For more information about setting Pool and Fee Config for Memecoin Pools, please read here.

3. Create the Memecoin Pool

After selecting your pool_config_key , reference this example in the Dynamic AMM SDK: https://github.com/MeteoraAg/dynamic-amm-sdk/blob/main/ts-client/src/examples/create_pool_and_lock_liquidity.ts

Using the example, update it with your pool config selected and other parameters in order to create a Memecoin Pool - which is a Dynamic AMM Pool with a fee scheduler and with liquidity (LP tokens) locked at creation.

How to assign which wallets can claim fees from the permanently-locked liquidity

Please refer to this example, in the section under let allocations = [

https://github.com/MeteoraAg/dynamic-amm-sdk/blob/main/ts-client/src/examples/create_pool_and_lock_liquidity.ts#L121

In the config file, you can specify different wallet addresses to receive fees from the locked liquidity, and the % to allocate to each wallet. Multiple wallets are possible, but their allocations must add up to 100%.

4. Create the Alpha Vault

After selecting your preferred pool config and creating a Memecoin Pool, please use this example to create the Alpha Vault:

https://github.com/MeteoraAg/alpha-vault-sdk/blob/f6a6d0e2113fd94c14d94403b08fe83ff40c4791/ts-client/src/alpha-vault/index.ts#L256

Read the Alpha Vault SDK and code examples there for more information.

Alpha Vault with Whitelist

For some launches, the project may want to restrict which wallet addresses are allowed to deposit funds into the Alpha Vault, so in the config file used in the script to create the Alpha Vault, the whitelistMode needs to be specified.

  • permissionless: No whitelist, anyone can deposit into the Alpha Vault

  • permission_with_authority: In this mode, only the Alpha Vault creator can create escrow account with max_cap. This allows the creator to use a permissioned (with whitelist) setup without having to use the merkle tree. Creator needs to pay SOL rent for each escrow account for the whitelisted wallets, so this Alpha Vault whitelist mode is suitable for scenarios where there are very few whitelisted addresses (e.g. =<100). If they need to support a lot more whitelisted addresses, they should still use the merkle tree (PermissionWithMerkleProof whitelist mode).

  • permission_with_merkle_proof: In this mode, only wallets that are whitelisted can deposit into the Alpha Vault. Csv file containing the list of whitelisted wallets needs to be provided by the project to Meteora, for the Merkle proof to be hosted by Meteora and shown on the UI. Alpha Vault deposits should not open until the Merkle proof is hosted by Meteora.

Important Notes

  • Currently, only SOL or USDC is accepted as the quote token when initializing a Memecoin Pool, Dynamic AMM Pool, or DLMM Pool with Alpha Vault in a permissionless setup. Since the Alpha Vault can't tell what the quote token would be, the quote token is limited to SOL or USDC. However, any quote token can be used if you use a config key that doesn't have Alpha Vault.

  • If you plan to use a multisig on the Meteora website, please make sure it is the SquadsX multisig, as that is the only type supported on Meteora website. Otherwise, you can't manage liquidity through the website.

  • There must be a ~1 hour 5 minutes period between the deposit close time and the pool activation time.

  • Crank start point (time when vault buys tokens from the pool):

    • Timestamp-based Crank start point = activationPoint - 3600

    • Slot-based Crank start point = activationPoint - 9000

  • Vault deposit close point (time when vault deposits close):

    • Timestamp-based Vault, Deposit close point = Crank start point - 5 min

    • Slot-based Vault, Deposit close point = Crank start point - 750

After deployment

To view pool on the UI, access the links below

  • For Dynamic AMM and Memecoin Pool: https://app.meteora.ag/pools/<POOL_ADDRESS>

When can you withdraw tokens from the pool?

  • CustomizablePermissionless Dynamic AMM: After pool activation point (trading starts)

Other Configuration Details

There are various config files that can be found in the config directory.

It contains all the configurations required to run the scripts. We also need to provide the keypair for the payer wallet in keypair.json file.

General configuration

  • rpcUrl: Solana RPC URL to get data and send transactions.

  • keypairFilePath: Keypair file path to send transactions.

  • dryRun: Set to true to send transactions.

  • computeUnitPriceMicroLamports: CU price in micro lamports unit. For example: 100000.

  • createBaseToken: Configuration to create base token.

  • baseMint: Base token address if the createBaseToken field is not set.

  • quoteSymbol: Quote token symbol, only SOL or USDC is supported.

  • quoteMint: Quote token mint, in case the user wants to create a DLMM launch pool with a token other than SOL or USDC.

  • dynamicAmm: Dynamic AMM pool configuration.

  • alphaVault: Fcfs or Prorata Alpha Vault configuration.

Some configuration constraints:

  • createBaseToken and baseMint cannot be used together.

  • dynamicAmm and dlmm cannot be used together.

Create Base Token configuration

  • mintBaseTokenAmount: Base token amount to be minted.

Dynamic AMM configuration

  • baseAmount: Base token amount.

  • quoteAmount: Quote token amount.

  • tradeFeeNumerator: Trade fee numerator, with fee denominator is set to 100_000.

  • activationType: To activate pool trading base on slot or timestamp.

  • activationPoint: To activate pool trading at a point, either slot valut or timestamp value base on activationType.

  • hasAlphaVault: Whether alpha vault is enabled or not for this pool.

Alpha Vault configuration

  • poolType: dynamic or dlmm pool type.

  • alphaVaultType: Alpha Vault type, could be fcfs or prorata

  • depositingPoint: Absolute value that, the slot or timestamp that allows deposit depend on the pool activation type.

  • startVestingPoint: Absolute value, the slot or timestamp that start vesting depend on the pool activation type. If no vesting is required, you should put this as 1 sec after the pool's activationPoint

  • endVestingPoint: Absolute value, the slot or timestamp that end vesting depend on the pool activation type. If no vesting is required, this should be the same as startVestingPoint

  • maxDepositCap: Maximum deposit cap.

  • individualDepositingCap: Individual deposit cap.

  • escrowFee: Fee to create stake escrow account. If this fee is added, it will be a one-time fee charged when users create a stake escrow account. This acts as a tax and makes it prohibitively expensive for users to attempt to use multiple wallets to bypass the individual deposit cap. It's charged in native SOL (non-wrapped version) and will be sent to the Meteora treasury.

  • whitelistMode: permissionless or permission_with_merkle_proof or permission_with_authority.

Alpha Vault Prorata configuration

  • depositingPoint: Absolute value that, the slot or timestamp that allows deposit depend on the pool activation type.

  • startVestingPoint: Absolute value, the slot or timestamp that start vesting depend on the pool activation type. If no vesting is required, you should put this as 1 sec after the pool's activationPoint

  • endVestingPoint: Absolute value, the slot or timestamp that end vesting depend on the pool activation type. If no vesting is required, this should be the same as startVestingPoint

  • maxBuyingCap: Maximum buying cap.

  • escrowFee: Fee to create stake escrow account. If this fee is added, it will be a one-time fee charged when users create a stake escrow account. This acts as a tax and makes it prohibitively expensive for users to attempt to use multiple wallets to bypass the individual deposit cap. It's charged in native SOL (non-wrapped version) and will be sent to the Meteora treasury.

  • whitelistMode: permissionless or permission_with_merkle_proof or permission_with_authority.

Alpha Vault Key Components

  • Vault Types: Supports both permissionless (without whitelist) and permissioned (with whitelist) Alpha Vaults.

  • Whitelist Modes:

    • Without whitelist:

      • Permissionless

    • With whitelist:

      • PermissionWithMerkleProof

      • PermissionWithAuthority

  • alphaVaultType (Vault Mode):

    • Pro-rata

    • FCFS (First-Come, First-Served)

  • Individual Deposit Cap:

    • Global individual deposit cap without whitelist only possible on FCFS vault mode, not possible on Pro rata vault mode.

Alpha Vault TypeScript SDK

After creating the Alpha Vault for your pool, check out the Alpha Vault SDK for different ways to interact with it. For example, depositing funds into the Alpha Vault, cranking the Alpha Vault to buy tokens from the pool, or claiming purchased tokens from the Alpha Vault.

Other Alpha Vault Considerations

Please read our Alpha Vault FAQ.

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