Repos

Repos in Repo.Trade

In the context of Repo.Trade, a repo (repository) represents a project or codebase that can receive contributions and have its own token economy.

Key Characteristics of Repos

• Each repo belongs to a namespace
• Repos have an auction period for initial contributions
• After the auction, repos enter a swapping state where tokens can be traded

Repo State Structure

The repo state, defined in programs/repotrade/src/states/repo.rs, includes:

pub struct Repo {
    pub name: String,
    pub namespace_index: u32,
    pub owner: Pubkey,
    pub status: RepoStatus,
    pub auction: Auction,
    pub usdc_reserve: u64,
    pub token_reserve: u64,
    pub owner_fee_balance: u64,
    pub protocol_fee_balance: u64,
    pub owner_fee_claimed: u64,
    pub protocol_fee_claimed: u64,
    pub padding: [u64; 8],
}

Key components:

• name: The repo's name
• namespace_index: Index of the namespace it belongs to
• owner: Public key of the repo owner
• status: Current state of the repo (Pending, Auction, or Swapping)
• auction: Details about the auction phase
• usdc_reserve and token_reserve: Liquidity pools for swapping
• Fee-related fields for tracking balances and claims

Example from Unit Test

In the repotrade.ts test file, we can see how a repo is created:

const REPO_NAME = "solana-labs/solana";
const now = Math.floor(Date.now() / 1000);
const tx = await program.methods
  .initializeRepo(new anchor.BN(now), REPO_NAME)
  .accounts({
    repo: repoPda,
    namespace: namespacePda,
    payer: ADMIN_SIGNER.publicKey,
    systemProgram: SystemProgram.programId,
  })
  .signers([ADMIN_SIGNER])
  .rpc();

In this example:

• A new repo named "solana-labs/solana" is created
• The repo is associated with a specific namespace
• The current timestamp is used to set the start time for the auction
• An admin account initializes the repo

Repos in Repo.Trade serve as the central entity for managing project-specific token economies, facilitating contributions, and enabling token swaps after the initial auction period.

Repo Statuses in Repo.Trade

Repos in Repo.Trade go through different statuses as they progress. These statuses determine what actions can be taken with the repo at any given time.

Repo Status Enum

The repo status is defined in programs/repotrade/src/states/repo.rs:

pub enum RepoStatus {
    Pending,
    Auction,
    Swapping,
}

Status Progression

1 Pending: Initial state when a repo is first created (Note: This state might be removed in future versions) 2 Auction: The contribution period where users can contribute USDC 3 Swapping: After the auction ends, the repo enters the swapping state where tokens can be traded

State Transitions

Pending to Auction

This transition happens automatically when the repo is initialized. In the unit tests, we see this when a repo is created:

const tx = await program.methods
  .initializeRepo(new anchor.BN(now), REPO_NAME)
  .accounts({
    repo: repoPda,
    namespace: namespacePda,
    payer: ADMIN_SIGNER.publicKey,
    systemProgram: SystemProgram.programId,
  })
  .signers([ADMIN_SIGNER])
  .rpc();

const repoAccount = await program.account.repo.fetch(repoPda);
expect(repoAccount.status.toString()).to.equal(RepoStates.Auction.toString());

Auction to Swapping

This transition occurs when tokens are claimed after the auction period. In the unit tests, we see this transition when claiming tokens:

await program.methods
  .claimTokens()
  .accounts({
    repo: repoPda,
    angel: angelPda,
    namespace: namespacePda,
    tokenMint: repoMintPda,
    angelTokenAccount: await splToken.getAssociatedTokenAddress(
      repoMintPda,
      wallet.publicKey,
    ),
    repoTokenVault: repoTokenVaultPda,
    payer: wallet.publicKey,
    tokenProgram: TOKEN_PROGRAM_ID,
    associatedTokenProgram: ASSOCIATED_TOKEN_PROGRAM_ID,
    systemProgram: SystemProgram.programId,
  })
  .signers([payer])
  .rpc();

const repoAccount = await program.account.repo.fetch(repoPda);
expect(repoAccount.status.toString()).to.equal(RepoStates.Swapping.toString());

Impact of Status on Repo Actions

• During the Auction status:

• Users can contribute USDC to the repo

• Tokens cannot be claimed or swapped yet

• During the Swapping status:

• Contributions are no longer accepted
• Users can claim their tokens based on their contributions
• Tokens can be swapped with USDC

Understanding these statuses and transitions is crucial for users to know when they can contribute, claim tokens, or start trading.