# liquidator-v3
A script for liquidating undercollateralized account on Mango Markets.

## Setup
To run the liquidator you will need:
* A Solana account with some SOL deposited to cover transaction fees
* A Mango Account with some collateral deposited
* Your wallet keypair saved as a JSON file
* `node` (v14+) and `yarn`
* A clone of this repository
* Dependencies installed with `yarn install`

## Rebalancing
The liquidator will attempt to close all perp positions, and balance the tokens in the liqor account after each liquidation. By default it will sell all token assets into USDC. You can choose to maintain a certain amount of each asset through this process by editing the value in the `TARGETS` environment variable at the position of the asset. You can find the order of the assets in the 'oracles' property of the group in [ids.json](https://github.com/blockworks-foundation/mango-client-v3/blob/main/src/ids.json#L81) The program will attempt to make buy/sell orders during balancing to maintain this level.

## Advanced Orders Triggering
The liquidator triggers advanced orders for users when their trigger condition is met. Upon successfully triggering the order, the liquidator wallet will receive 100x the transaction fee as a reward.

## Run
```
yarn liquidator
```

The liquidator can be run in two different modes:

### Mode 1: Scan for liquidatable accounts directly

The liquidator will connect to an RPC node websocket feed itself and request
snapshots occasionally. This is simpler to get started with, as no separate
service is needed to watch for potentially liquidatable accounts, but scanning
for accounts can be slow.

To use this mode, leave `LIQUIDATABLE_FEED_WEBSOCKET_ADDRESS` unset.

Only this mode allows advanced order triggering.

### Mode 2: Use a separate service to find liquidatable accounts

In this mode the https://github.com/blockworks-foundation/liquidatable-accounts-feed
service provides information about potentially liquidatable accounts to the liquidator.

The external service is much faster at scanning for newly liquidatable accounts
when the price cache is updated than Mode 1.

To use it, set up the liquidatable-accounts-feed service (probably on the same
machine) and then set the liquidator's `LIQUIDATABLE_FEED_WEBSOCKET_ADDRESS` to
the other service's `websocket_server_bind_address`.

This mode never triggers advanced orders.


## Environment Variables
| Variable | Default | Description |
| -------- | ------- | ----------- |
| `CLUSTER` | `mainnet` | The Solana cluster to use |
| `ENDPOINT_URL` | `https://mango.rpcpool.com/946ef7337da3f5b8d3e4a34e7f88` | Your RPC node endpoint |
| `KEYPAIR` | `${HOME}/.config/solana/id.json` | The location of your wallet keypair |
| `GROUP` | `mainnet.1` | Name of the group in ids.json to run the Liquidator against |
| `TARGETS` | `0 0 0 0 0 0 0 0` | Space separated list of the amount of each asset to maintain when rebalancing |
| `INTERVAL` | `3500` | Milliseconds to wait before checking for sick accounts |
| `INTERVAL_ACCOUNTS` | `600000` | Milliseconds to wait before reloading all Mango accounts |
| `INTERVAL_WEBSOCKET` | `300000` | Milliseconds to wait before reconnecting to the websocket |
| `INTERVAL_REBALANCE` | `10000` | Milliseconds to wait before doing another account rebalance |
| `LIQOR_PK` | N/A | Liqor Mango Account Public Key, by default uses the largest value account owned by the keypair |
| `WEBHOOK_URL` | N/A | Discord webhook URL to post liquidation events and errors to |
| `LIAB_LIMIT` | `0.9` | Percentage of your available margin to use when taking on liabilities |
| `MIN_EQUITY` | `0` | Minimum account equity required to liquidate |
| `LIQUIDATABLE_FEED_WEBSOCKET_ADDRESS` | N/A | Websocket URL of the liquidatable-accounts-feed service, see above |
| `COMMITMENT_LEVEL` | `processed` | Commitment level for the connection |
| `CONFIRMATION_TIMEOUT` | `30000` | Milliseconds to wait for transaction confirmation |

You can add these variables to a `.env` file in the project root to load automatically on liquidator startup. For example:
```bash
ENDPOINT_URL=https://solana-api.projectserum.com
KEYPAIR=${HOME}/.config/solana/my-keypair.json
TARGETS=500 0.1 0.75 0 0 0 0 0
```