IDO Pool

This example provides an IDO mechanism that prevents giving "free money" to the quickest bidder. The IDO is selling a fixed amount of 🍉 tokens, guarantees the same price for every user and has three phases:

1. Users can freely deposit and withdraw 💵 tokens into the pool.
2. They can only withdraw 💵 tokens.
3. They can only withdraw 🍉 tokens pro-rata to their share of deposited 💵 tokens to the total amount deposited by all users.

The first two phases should last at least 24 hours each, the last one is unlimited.

Setup

1. Install dependencies and run the tests to verify it's all working. If you are new to anchor you might want to check out the official guide.

npm install
anchor test

2. Create 10 🍉 tokens and 1000 💵 tokens for testing:

spl-token create-token --decimals 6
spl-token create-account $MINT_MELON
spl-token mint $MINT_MELON 10 $ACC_MELON

spl-token create-token --decimals 6
spl-token create-account $MINT_USDC
spl-token mint $MINT_USDC 1000 $ACC_USDC

3. Deploy the contract and initialize it with 10 🍉 tokens. For testing purposes this pool will only accept deposits for 5 minutes and withdrawals for one more minute afterwards. The default value for both parameters is 24 hours:

anchor launch
node cli/index.js init $MINT_USDC $MINT_MELON $ACC_MELON 10 --deposit_duration 300 --cancel_duration 60

4. Bid 100 💵 tokens. But first create an account to receive the redeemable pool token, that will allow you to receive 🍉 tokens in phase 3. You can increase or reduce your bid, by calling bid again.

spl-token create-account $MINT_REDEEM
node cli/index.js bid $ACC_POOL $ACC_USDC 100 $ACC_REDEEM

Configuration

To use the cli on other clusters than localnet set the env variable CLUSTER_RPC_URL=https://api.devnet.solana.com