Merge pull request #13 from MeteoraAg/feat/m3m3

feat: Add script to create m3m3 farm

CHANGELOG.md

@@ -3,6 +3,10 @@ All notable changes to this project will be documented in this file.
 
 The format is based on Keep a Changelog, and this project adheres to Semantic Versioning.
 
+## [1.3.0] - 2025-01-21 - [PR #8](https://github.com/MeteoraAg/meteora-pool-setup/pull/13)
+### Added 
+- Script to create M3M3 fee farm.
+
 ## [1.2.0] - 2025-01-06 - [PR #8](https://github.com/MeteoraAg/meteora-pool-setup/pull/8)
 
 ### Added 

README.md

@@ -68,6 +68,12 @@ Also we need to provide the keypair for the payer wallet in `keypair.json` file.
 - `escrowFee`: Fee to create stake escrow account.
 - `whitelistMode`: `permissionless` or `permission_with_merkle_proof` or `permission_with_authority`.
 
+### Create M3M3 configuration
+- `topListLength`: Length of the top list.
+- `unstakeLockDurationSecs`: Duration need wait before withdraw. Starting from the unstack action timestamp.
+- `secondsToFullUnlock`:  Time required for locked claim fee to be fully dripped.
+- `startFeeDistributeTimestamp`: When the fee start distributes. The timestamp should be 48h after pool activate to accumulate more rewards to attract stakers as in [M3M3 reminder](https://docs.meteora.ag/for-memecoins/m3m3#important-reminder)
+
 ## Testings
 First, run the localnet
 ```bash
@@ -118,6 +124,18 @@ bun run src/seed_liquidity_single_bin.ts --config ./config/seed_liquidity_single
 bun run src/seed_liquidity_lfg.ts --config ./config/seed_liquidity_lfg.json
 ```
 
+** Create M3M3 farm**
+This script requires you to create the token mint and the pool first.
+After that you need to lock the liquidity before creating the M3M3 farm. The addresses in the allocations should contains the fee farm address.
+```bash
+bun run src/lock_liquidity_for_m3m3.ts --config ./config/create_m3m3_farm.json
+```
+
+Create the M3M3 fee farm
+```bash
+bun run src/create_m3m3_farm.ts --config ./config/create_m3m3_farm.json
+```
+
 ## After deployment
 To view pool on the UI, access the links below
 - For Dynamic AMM pool: `https://app.meteora.ag/pools/<POOL_ADDRESS>`

config/create_m3m3_farm.json

@@ -0,0 +1,22 @@
+{
+  "rpcUrl": "https://api.mainnet-beta.solana.com",
+  "dryRun": false,
+  "keypairFilePath": "keypair.json",
+  "computeUnitPriceMicroLamports": 100000,
+  "baseMint": "FvxPZWBViVsmzS11MGi3ybNGjTKChwdfXU3UWopBujTn",
+  "quoteSymbol": "SOL",
+  "m3m3": {
+    "topListLength": 100,
+    "unstakeLockDurationSecs": 25200,
+    "secondsToFullUnlock": 86400,
+    "startFeeDistributeTimestamp": 1737590400
+  },
+  "lockLiquidity": {
+    "allocations": [
+      {
+        "percentage": 100,
+        "address": "D2Yt1jtjjk6cPiwYKs6krtbjfjjYiQmYWbFtTrgL2WR2"
+      }
+    ]
+  }
+}

package.json

@@ -1,6 +1,6 @@
 {
   "name": "meteora_pool_setup",
-  "version": "1.2.0",
+  "version": "1.3.0",
   "main": "index.js",
   "scripts": {
     "format": "bun prettier ./src --write",
@@ -14,6 +14,7 @@
     "@mercurial-finance/dynamic-amm-sdk": "^1.1.19",
     "@meteora-ag/alpha-vault": "^1.1.8",
     "@meteora-ag/dlmm": "^1.3.5",
+    "@meteora-ag/m3m3": "^1.0.5",
     "@solana/spl-token": "^0.4.9",
     "@solana/spl-token-registry": "^0.2.4574",
     "@solana/web3.js": "^1.95.8",

src/create_m3m3_farm.ts

@@ -0,0 +1,82 @@
+import { BN, Wallet } from "@coral-xyz/anchor";
+import {
+  Connection,
+  PublicKey,
+  sendAndConfirmTransaction,
+} from "@solana/web3.js";
+import { MeteoraConfig, parseConfigFromCli } from "./libs/config";
+import { DEFAULT_COMMITMENT_LEVEL, M3M3_PROGRAM_IDS } from "./libs/constants";
+import {
+  safeParseKeypairFromFile,
+  getQuoteMint,
+  getQuoteDecimals,
+  runSimulateTransaction,
+} from "./libs/utils";
+import { createTokenMint } from "./libs/create_token_mint";
+import { createPermissionlessDynamicPool } from "./libs/create_pool_utils";
+import {
+  createProgram,
+  deriveCustomizablePermissionlessConstantProductPoolAddress,
+} from "@mercurial-finance/dynamic-amm-sdk/dist/cjs/src/amm/utils";
+import AmmImpl from "@mercurial-finance/dynamic-amm-sdk";
+import StakeForFee, { deriveFeeVault } from "@meteora-ag/m3m3";
+import {
+  create_m3m3_farm,
+  lockLiquidityToFeeVault,
+} from "./libs/create_m3m3_farm_utils";
+
+async function main() {
+  let config: MeteoraConfig = parseConfigFromCli();
+
+  console.log(`> Using keypair file path ${config.keypairFilePath}`);
+  let keypair = safeParseKeypairFromFile(config.keypairFilePath);
+
+  console.log("\n> Initializing with general configuration...");
+  console.log(`- Using RPC URL ${config.rpcUrl}`);
+  console.log(`- Dry run = ${config.dryRun}`);
+  console.log(`- Using payer ${keypair.publicKey} to execute commands`);
+
+  const connection = new Connection(config.rpcUrl, DEFAULT_COMMITMENT_LEVEL);
+  const wallet = new Wallet(keypair);
+
+  if (!config.baseMint) {
+    throw new Error("Missing baseMint in configuration");
+  }
+  let baseMint = new PublicKey(config.baseMint);
+  let quoteMint = getQuoteMint(config.quoteSymbol);
+  const ammProgram = createProgram(connection).ammProgram;
+  const poolKey = deriveCustomizablePermissionlessConstantProductPoolAddress(
+    baseMint,
+    quoteMint,
+    ammProgram.programId,
+  );
+
+  const poolAccount = await connection.getAccountInfo(poolKey, {
+    commitment: 'confirmed'
+  });
+
+  if (!poolAccount) {
+    throw new Error(`Pool ${poolKey} didn't exist. Please create it first.`);
+  }
+
+  console.log(`- Using base token mint ${baseMint.toString()}`);
+  console.log(`- Using quote token mint ${quoteMint.toString()}`);
+  console.log(`- Pool key ${poolKey}`);
+
+  if (!config.m3m3) {
+    throw new Error("Missing M3M3 configuration");
+  }
+
+  // 3. Create M3M3 farm
+  await create_m3m3_farm(
+    connection,
+    wallet.payer,
+    poolKey,
+    baseMint,
+    config.m3m3,
+    config.dryRun,
+    config.computeUnitPriceMicroLamports
+  );
+}
+
+main();

src/create_pool.ts

@@ -32,12 +32,6 @@ async function main() {
 
   // If we want to create a new token mint
   if (config.createBaseToken) {
-    if (!config.createBaseToken.mintBaseTokenAmount) {
-      throw new Error("Missing mintBaseTokenAmount in configuration");
-    }
-    if (!config.createBaseToken.baseDecimals) {
-      throw new Error("Missing baseDecimals in configuration");
-    }
     baseMint = await createTokenMint(connection, wallet, {
       dryRun: config.dryRun,
       mintTokenAmount: config.createBaseToken.mintBaseTokenAmount,

src/libs/config.ts

@@ -2,7 +2,6 @@ import {
   extraConfigValidation,
   parseCliArguments,
   safeParseJsonFromFile,
-  validate_config,
 } from "./utils";
 import Ajv, { JSONSchemaType } from "ajv";
 
@@ -225,6 +224,25 @@ const CONFIG_SCHEMA: JSONSchemaType<MeteoraConfig> = {
         "seedTokenXToPositionOwner",
       ],
     },
+    m3m3: {
+      type: "object",
+      nullable: true,
+      properties: {
+        topListLength: {
+          type: "number",
+        },
+        unstakeLockDurationSecs: {
+          type: "number",
+        },
+        secondsToFullUnlock: {
+          type: "number",
+        },
+        startFeeDistributeTimestamp: {
+          type: "number"
+        }
+      },
+      required: ["topListLength", "unstakeLockDurationSecs", "secondsToFullUnlock", "startFeeDistributeTimestamp"],
+    }
   },
   required: [
     "rpcUrl",
@@ -250,6 +268,7 @@ export interface MeteoraConfig {
   lockLiquidity: LockLiquidityConfig | null;
   lfgSeedLiquidity: LfgSeedLiquidityConfig | null;
   singleBinSeedLiquidity: SingleBinSeedLiquidityConfig | null;
+  m3m3: M3m3Config | null;
 }
 
 export interface CreateBaseMintConfig {
@@ -346,6 +365,13 @@ export interface SingleBinSeedLiquidityConfig {
   seedTokenXToPositionOwner: boolean;
 }
 
+export interface M3m3Config {
+  topListLength: number;
+  unstakeLockDurationSecs: number;
+  secondsToFullUnlock: number;
+  startFeeDistributeTimestamp: number;
+}
+
 export enum ActivationTypeConfig {
   Slot = "slot",
   Timestamp = "timestamp",

src/libs/constants.ts

@@ -22,4 +22,8 @@ export const ALPHA_VAULT_PROGRAM_IDS = {
   "mainnet-beta": "vaU6kP7iNEGkbmPkLmZfGwiGxd4Mob24QQCie5R9kd2",
 };
 
-export const MAX_INSTRUCTIONS_PER_STAKE_ESCROW_ACCOUNTS_CREATED = 8;
+export const MAX_INSTRUCTIONS_PER_STAKE_ESCROW_ACCOUNTS_CREATED = 8;
+
+export const M3M3_PROGRAM_IDS = {
+  "mainnet-beta": "FEESngU3neckdwib9X3KWqdL7Mjmqk9XNp3uh5JbP4KP",
+};

src/libs/create_m3m3_farm_utils.ts

@@ -0,0 +1,88 @@
+import {
+  Connection,
+  Keypair,
+  PublicKey,
+  sendAndConfirmTransaction,
+} from "@solana/web3.js";
+import { M3m3Config, MeteoraConfig } from "./config";
+import { M3M3_PROGRAM_IDS } from "./constants";
+import StakeForFee, { deriveFeeVault } from "@meteora-ag/m3m3";
+import { BN } from "@coral-xyz/anchor";
+import { modifyComputeUnitPriceIx, runSimulateTransaction } from "./utils";
+import { getAssociatedTokenAddressSync } from "@solana/spl-token";
+import AmmImpl, { VaultIdl } from "@mercurial-finance/dynamic-amm-sdk";
+import Decimal from "decimal.js";
+
+export async function create_m3m3_farm(
+  connection: Connection,
+  payer: Keypair,
+  poolKey: PublicKey,
+  stakeMint: PublicKey,
+  config: M3m3Config,
+  dryRun: boolean,
+  computeUnitPriceMicroLamports: number,
+  opts?: {
+    m3m3ProgramId: PublicKey;
+  },
+): Promise<void> {
+  const m3m3ProgramId =
+    opts?.m3m3ProgramId ?? new PublicKey(M3M3_PROGRAM_IDS["mainnet-beta"]);
+  const m3m3VaultPubkey = deriveFeeVault(poolKey, m3m3ProgramId);
+  console.log(`- M3M3 fee vault ${m3m3VaultPubkey}`);
+
+  // 1. Create m3m3 farm
+  const m3m3VaultAccount = await connection.getAccountInfo(m3m3VaultPubkey, {
+    commitment: 'confirmed',
+  });
+
+  if (m3m3VaultAccount) {
+    console.log(`>>> M3M3 farm is already existed. Skip creating new farm.`);
+    return;
+  }
+
+  console.log(`>> Creating M3M3 fee farm...`);
+  const topListLength = config.topListLength;
+  const unstakeLockDuration = new BN(config.unstakeLockDurationSecs);
+  const secondsToFullUnlock = new BN(config.secondsToFullUnlock);
+  const startFeeDistributeTimestamp = new BN(
+    config.startFeeDistributeTimestamp,
+  );
+
+  console.log(`- Using topListLength: ${topListLength}`);
+  console.log(`- Using unstakeLockDuration ${unstakeLockDuration}`);
+  console.log(`- Using secondsToFullUnlock ${secondsToFullUnlock}`);
+  console.log(`- Using startFeeDistributeTimestamp ${startFeeDistributeTimestamp}`);
+
+  // m3m3 farm didn't exist
+  const createTx = await StakeForFee.createFeeVault(
+    connection,
+    poolKey,
+    stakeMint,
+    payer.publicKey,
+    {
+      topListLength,
+      unstakeLockDuration,
+      secondsToFullUnlock,
+      startFeeDistributeTimestamp,
+    },
+  );
+  modifyComputeUnitPriceIx(createTx, computeUnitPriceMicroLamports);
+
+  if (dryRun) {
+    console.log(`> Simulating create m3m3 farm tx...`);
+    await runSimulateTransaction(connection, [payer], payer.publicKey, [
+      createTx,
+    ]);
+  } else {
+    console.log(`>> Sending create m3m3 farm transaction...`);
+    const txHash = await sendAndConfirmTransaction(connection, createTx, [
+      payer,
+    ]).catch((err) => {
+      console.error(err);
+      throw err;
+    });
+    console.log(
+      `>>> M3M3 farm initialized successfully with tx hash: ${txHash}`,
+    );
+  }
+}

src/libs/create_token_mint.ts

@@ -73,6 +73,7 @@ async function createAndMintToken(
     mintDecimals,
     computeUnitPriceMicroLamports,
   );
+  console.log(`Created token mint ${mint}`);
 
   const walletTokenATA = await getOrCreateAssociatedTokenAccount(
     connection,
@@ -94,6 +95,7 @@ async function createAndMintToken(
       commitment: DEFAULT_COMMITMENT_LEVEL,
     },
   );
+  console.log(`Minted ${mint} to wallet`);
 
   return mint;
 }

src/lock_liquidity.ts

@@ -69,7 +69,7 @@ async function main() {
     [Buffer.from(SEEDS.LP_MINT), poolKey.toBuffer()],
     createProgram(connection).ammProgram.programId,
   );
-  const payerPoolLp = await getAssociatedTokenAccount(lpMint, wallet.publicKey);
+  const payerPoolLp = getAssociatedTokenAccount(lpMint, wallet.publicKey);
   const payerPoolLpBalance = (
     await provider.connection.getTokenAccountBalance(payerPoolLp)
   ).value.amount;