Creating an MPL 404 Hybrid Escrows

Prerequisites

A MPL Core Collection - Link
Core NFT Assets Minted to the Collection - Link
An SPL Token created with required token amount. - Link
An online storage of sequential metadata JSON files at a consistent gateway/uri.

Initializing the escrow is the essential step that links an NFT collection with a fungible token. Before starting this step, you should have ready a Core collection address, a fungible token mint address, and a range of off-chain metadata URIs using numerically named, sequential files. The need for Base URI string consistency will limit some off-chain metadata options. Note that the authority of the escrow needs to match the authority of the collection to perform metadata updates. Additionally, because the escrow is funded, there is no need to be the token authority which allows collections to be backed by existing memecoins or other fungible assets.

MPL-Hybrid Escrow Account Structure

The MPL Hybrid Escrow is the heart of the program which stores all information regarding the project.

Create Escrow

Args

name

The name of your escrow. This data can be used to show the name of your escrow on a UI.

name: 'My Test Escrow'

uri

This is the base uri for your metadata pool. This needs to be a static uri which also contains your metadata json files at sequential destination. i.e:

https://shdw-drive.genesysgo.net/.../0.json
https://shdw-drive.genesysgo.net/.../1.json
https://shdw-drive.genesysgo.net/.../2.json

uri: 'https://shdw-drive.genesysgo.net/<bucket-id>/'

escrow

The escrow address is a PDA of the two following seeds ["escrow", collectionAddress].

const collectionAddress = publicKey('11111111111111111111111111111111')

const escrowAddress = umi.eddsa.findPda(MPL_HYBRID_PROGRAM_ID, [
  string({ size: 'variable' }).serialize('escrow'),
  publicKeySerializer().serialize(collectionAddress),
])

collection

The collection address being used in your MPL Hybrid 404 project.

collection: publicKey('11111111111111111111111111111111')

token

The Token mint address that is being used in your MPL Hybrid 404 project.

token: publicKey('11111111111111111111111111111111')

feeLocation

The wallet address which will be receiving the fees from the swaps.

feeLocation: publicKey('11111111111111111111111111111111')

feeAta

The Token Account of the wallet that will be receiving the tokens.

feeAta: findAssociatedTokenPda(umi, {
  mint: publicKey('111111111111111111111111111111111'),
  owner: publicKey('22222222222222222222222222222222'),
})

min and max

The min and max represent the min and max indexes available in your metadata pool.

Lowest index: 0.json
...
Highest index: 4999.json

This would then translate into the min and max args.

min: 0,
max: 4999

fees

There are 3 separate fees that can be set.

// Amount of tokens to receive when swapping an NFT to tokens.
// This value is in lamports and you will need to take into account
// the number of decimals the token has. If the token has 5 decimals
// and you wish to charge 1 whole token then feeAmount would be `100000`.

amount: swapToTokenValueReceived,

// Fee amount to pay when swapping Tokens to an NFT. This value is
// in lamports and you will need to take into account the number of
// decimals the token has. If the token has 5 decimals and you wish
// to charge 1 whole token then feeAmount would be `100000`.

feeAmount: swapToNftTokenFee,

// Optional fee to pay when swapping from Tokens to NFT.
// This is in lamports so you can use `sol()` to calculate
// the lamports.

solFeeAmount: sol(0.5).basisPoints,

path

The path arg either enables of disables the metadata rerolling function on the mpl-hybrid program.

// Reroll metadata on swap 0 = true, 1 = false
path: rerollEnabled,

associatedTokenProgram

The SPL_ASSOCIATED_TOKEN_PROGRAM_ID can be pulled from the mpl-toolbox package.

import { SPL_ASSOCIATED_TOKEN_PROGRAM_ID } from @metaplex/mpl-toolbox

// Associated Token Program ID
associatedTokenProgram: SPL_ASSOCIATED_TOKEN_PROGRAM_ID,

Code

const initTx = await initEscrowV1(umi, {
  // Escrow Name
  name: escrowName,
  // Metadata Pool Base Uri
  uri: baseMetadataPoolUri,
  // Escrow Address based on "escrow" + collection address seeds
  escrow: escrowAddress,
  // Collection Address
  collection: collectionAddress,
  // Token Mint
  token: tokenMint,
  // Fee Wallet
  feeLocation: feeWallet,
  // Fee Token Account
  feeAta: feeTokenAccount,
  // Min index of NFTs in the pool
  min: minAssetIndex,
  // Max index of NFTs in the pool
  max: maxAssetIndex,
  // Amount of fungible token to swap to
  amount: swapToTokenValueReceived,
  // Fee amount to pay when swapping to NFTs
  feeAmount: swapToNftTokenFee,
  // Optional additional fee to pay when swapping to NFTs
  solFeeAmount: sol(0.5).basisPoints,
  // Reroll metadata on swap 0 = true, 1 = false
  path: rerollEnabled,
  // Associated Token Program ID
  associatedTokenProgram: SPL_ASSOCIATED_TOKEN_PROGRAM_ID,
}).sendAndConfirm(umi)