Create: Meteora Launch Pool

Summary

Meteora Launch Pool is a pool type designed for new token launches.

It is based on DLMM and comes fundamentally equipped with a feature set that makes it optimal for bootstrapping liquidity for new tokens and making the tokens accessible on Jupiter and other trading integrations.

Meteora Launch Pools can also be created with an Alpha Vault as part of the token launch process. This is optional.

Alpha Vault is a new anti-bot tool to guard against sniper bots and allow genuine supporters to be the first to buy tokens at launch.

Below we provide the steps to use Bun to configure and run sample scripts to conveniently set up a Meteora Launch Pool with Alpha Vault on your own.

• Getting started

• Scripts

  • 1. Create DLMM pool

  • 2. Seed Liquidity

• When can you withdraw tokens from the pool to the position owner?

• Other Configuration Details

Getting Started

• Readme: https://github.com/MeteoraAg/meteora-pool-setup/blob/main/README.md

• DLMM SDK on github: https://github.com/MeteoraAg/dlmm-sdk

• DLMM API endpoints: https://dlmm-api.meteora.ag/swagger-ui/#/

• Alpha Vault SDK: https://docs.meteora.ag/alpha-vault/alpha-vault-typescript-sdk

Dependencies

• Install Bun: You'll also need bun to run the scripts. Install it via bun installation. Then install the dependencies by running the command bun install

Scripts

The following code examples can be used to initialize and seed a DLMM liquidity pool on Meteora using a customizable permissionless liquidity bin pair (LB pair). It allows you to configure parameters for the pool, including fees, pricing, curvature, and activation conditions, before executing initialization and seeding commands.

We also have code examples for interacting with the Alpha Vault program. Use these examples to create and manage vaults, handle deposits and withdrawals, manage permissioned and permissionless vault configurations, and interact with escrow accounts.

1. Create DLMM pool

• Clone repo: https://github.com/MeteoraAg/meteora-pool-setup

• Select an example config to reference and change the parameters inside according to your needs: https://github.com/MeteoraAg/meteora-pool-setup/tree/main/config

• Run the script (check dependencies) with config file specified in the CLI.

• Run:

  • bun run src/create_pool.ts --config <config.json>

  • Replace <config.json>with the path to your config file, after you have set your config parameters.

Important Notes:

• The max bin step you can set for a DLMM pool is 400 bin step.

• When creating a DLMM pool, there are 3 roles in position that you can config:

  • Position Owner: Wallet that owns the liquidity

  • Operator: Wallet that can deposit and withdraw tokens on behalf of the Position Owner

  • Fee Owner: Wallet that gets the fees from that position

• During the initialization of the DLMM pool, pool creator needs to have at least 1 lamport worth of the base token in the wallet to prove ownership.

• 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.

2. Seed liquidity

• Clone repo: https://github.com/MeteoraAg/dlmm-sdk

• Pre-requisite

  • Set up cargo

  • if you're on silicon apple chip, you need to be in this rust configrustup default 1.76.0-x86_64-apple-darwin

• Run:

  • cargo build -p cli

  • cd command_list

• Select the command you want from the command list and update the parameters according to your preference.

• If you want to seed a DLMM pool where the Position Owner is a different wallet from the Fee Owner, you would have to use the command ilm_curve_by_operator.sh, or ilm_single_bin_by_operator.sh (if liquidity is being deposited into a single bin).

• You can use this ilm curve tool to determine the suitable parameters for your launch.

Command	Description
ilm_curve.sh	Initialize DLMM position and seed liquidity using a preferred ilm curve, without a specified Fee Owner. For this config, Position Owner = Fee Owner. Position Creator must be the Position Owner. https://github.com/MeteoraAg/dlmm-sdk/blob/feat/ilm-permissionless/command_list/ilm_curve.sh
ilm_curve_by_operator.sh	Initialize DLMM position and seed liquidity using a preferred ilm curve. You can specify the Fee Owner wallet and the Position Owner wallet. You can also use the Operator to create the position. https://github.com/MeteoraAg/dlmm-sdk/blob/main/command_list/ilm_curve_by_operator.sh
ilm_single_bin.sh	Initialize DLMM position and seed liquidity, where liquidity is deposited into a single bin, without a specified Fee Owner. For this config, Position Owner = Fee Owner. Position Creator must be the Position Owner. https://github.com/MeteoraAg/dlmm-sdk/blob/feat/ilm-permissionless/command_list/ilm_single_bin.sh
ilm_single_bin_by_operator.sh	Initialize DLMM position and seed liquidity, where liquidity is deposited into a single bin. You can specify the Fee Owner wallet and the Position Owner wallet. You can also use the Operator to create the position. https://github.com/MeteoraAg/dlmm-sdk/blob/main/command_list/ilm_single_bin_by_operator.sh

• Next, run:

  • source <ilm_curve_by_operator.sh>

  • Replace <ilm_curve_by_operator.sh> with the command file you selected earlier from the above command list, with your parameters specified.

Important Notes:

• When seeding liquidity using the endpoint, both Operator and Position Owner need to have base tokens to prove ownership. If the Position Owner doesn't have any base tokens, then the Operator will need to send 1 lamport worth of the base token to Position Owner. But the script will check if Position Owner has tokens and if not, it will bundle a transfer instruction to send 1 lamport worth of the base token from the Operator to the Position Owner.

• The commands in the command list above only work before the pool is activated for trading. If the pool has already started trading, when you use a command, there would be an error message shown (e.g. Error Message: Unauthorized access).

• In the code example, lock_release_point refers to the time the liquidity position can be withdrawn. If it is set to zero, it means the position can be withdrawn immediately after trading starts.

• 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.

After deployment

To view pool on the UI, access the link below

• For DLMM pool: https://app.meteora.ag/dlmm/<POOL_ADDRESS>

When can you withdraw tokens from the pool to the position owner?

• CustomizablePermissionless DLMM: After pool activation point (trading starts)

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

• Permissioned DLMM: Anytime

• Permissioned Dynamic AMM: Doesn't support Alpha Vault

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.

DLMM Pool can also lock liquidity, so the lock_release_point can be set to some indefinite time then it 'unlocks'

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.

• 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.

• baseDecimals: Base token decimal.

• dynamicAmm: Dynamic AMM pool configuration.

• dlmm: DLMM 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.

DLMM configuration

• binStep: DLMM pool bin step.

• feeBps: Fee bps for DLMM pool.

• initialPrice: Initial pool price.

• 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.

• priceRounding: Should be up or down.

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

Note: When using the endpoint instruction initializeCustomizablePermissionlessLbPair the purpose is for creating a launch pool for the token for the first time, so only one DLMM pool is meant to be created for that token pair. If you are using that instruction to create a new DLMM pool with the same base and quote tokens, but with different parameters, the transaction will fail. Pool creator must have at least 1 lamport worth of the base token in the wallet to prove ownership.