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 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:

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

0xleeaki/solana-mango-liquidater