feat: esm to cjs lowering.

README.md

@@ -9,6 +9,12 @@ Node.js utility for transforming a JavaScript or TypeScript file from an ES modu
 - ES module ➡️ CommonJS
 - CommonJS ➡️ ES module
 
+Highlights
+
+- Defaults to safe CommonJS output: strict live bindings, import.meta shims, and specifier preservation.
+- Opt into stricter/looser behaviors: live binding enforcement, import.meta.main gating, and top-level await strategies.
+- Can optionally rewrite relative specifiers and write transformed output to disk.
+
 > [!IMPORTANT]  
 > All parsing logic is applied under the assumption the code is in [strict mode](https://developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Strict_mode) which [modules run under by default](https://developer.mozilla.org/en-US/docs/Web/JavaScript/Guide/Modules#other_differences_between_modules_and_classic_scripts).
 
@@ -18,9 +24,15 @@ By default `@knighted/module` transforms the one-to-one [differences between ES
 
 - Node >= 20.11.0
 
+## Install
+
+```bash
+npm install @knighted/module
+```
+
 ## Example
 
-Given an ES module
+Given an ES module:
 
 **file.js**
 
@@ -40,7 +52,7 @@ const detectCalledFromCli = async path => {
 detectCalledFromCli(argv[1])
 ```
 
-You can transform it to the equivalent CommonJS module
+Transform it to CommonJS:
 
 ```js
 import { transform } from '@knighted/module'
@@ -51,7 +63,7 @@ await transform('./file.js', {
 })
 ```
 
-Which produces
+Which produces:
 
 **file.cjs**
 
@@ -99,6 +111,7 @@ type ModuleOptions = {
     | ((value: string) => string | null | undefined)
   dirFilename?: 'inject' | 'preserve' | 'error'
   importMeta?: 'preserve' | 'shim' | 'error'
+  importMetaMain?: 'shim' | 'warn' | 'error'
   requireSource?: 'builtin' | 'create-require'
   cjsDefault?: 'module-exports' | 'auto' | 'none'
   topLevelAwait?: 'error' | 'wrap' | 'preserve'
@@ -107,7 +120,24 @@ type ModuleOptions = {
 }
 ```
 
+Behavior notes (defaults in parentheses)
+
+- `target` (`commonjs`): output module system.
+- `transformSyntax` (true): enable/disable the ESM↔CJS lowering pass.
+- `liveBindings` (`strict`): getter-based live bindings, or snapshot (`loose`/`off`).
+- `dirFilename` (`inject`): inject `__dirname`/`__filename`, preserve existing, or throw.
+- `importMeta` (`shim`): rewrite `import.meta.*` to CommonJS equivalents.
+- `importMetaMain` (`shim`): gate `import.meta.main` with shimming/warning/error when Node support is too old.
+- `topLevelAwait` (`error`): throw, wrap, or preserve when TLA appears in CommonJS output.
+- `rewriteSpecifier` (off): rewrite relative specifiers to a chosen extension or via a callback.
+- `requireSource` (`builtin`): whether `require` comes from Node or `createRequire`.
+- `cjsDefault` (`auto`): bundler-style default interop vs direct `module.exports`.
+- `out`/`inPlace`: write the transformed code to a file; otherwise the function returns the transformed string only.
+
+See [docs/esm-to-cjs.md](docs/esm-to-cjs.md) for deeper notes on live bindings, interop helpers, top-level await behavior, and `import.meta.main` handling.
+
 ## Roadmap
 
 - Remove `@knighted/specifier` and avoid double parsing.
-- Flesh out live-binding and top-level await handling.
+- Emit source maps and clearer diagnostics for transform choices.
+- Broaden fixtures covering live-binding and top-level await edge cases across Node versions.

docs/esm-to-cjs.md

@@ -0,0 +1,50 @@
+# ESM to CommonJS lowering
+
+## Scope
+
+- Translates ESM syntax to CommonJS when `target: 'commonjs'` with `transformSyntax` enabled.
+- Assumes Node 20.11+ runtime with `__filename`/`__dirname` shims supplied by the host.
+- Keeps optional live-binding behavior via `liveBindings` (strict/loose/off).
+- Top-level await (TLA) handling is controlled by `topLevelAwait: 'error' | 'wrap' | 'preserve'` when lowering to CommonJS.
+- Optional import.meta.main gating via `importMetaMain: 'shim' | 'warn' | 'error'`.
+
+## Imports and interop
+
+- `import` statements become `require` calls; side-effect imports become bare `require()` calls.
+- Default imports use the bundler-style helper `__interopDefault = mod => (mod && mod.__esModule ? mod.default : mod)` when `cjsDefault: 'auto'`; otherwise they can target `module.exports` or `.default` directly per option.
+- Namespace imports bind to the full `require` result; named imports destructure from the same binding.
+- Re-exporting a default (`export { default as x } from`) routes through the interop helper to match bundler behavior for CJS sources.
+- When the interop helper is emitted, `exports.__esModule = true` is also seeded for downstream consumers.
+
+## Exports and live bindings
+
+- Local named exports emit to `exports.<name>` (or bracket access) with `Object.defineProperty` getters when `liveBindings: 'strict'`; snapshot assignment is used for `loose`/`off`.
+- `export default` writes to `module.exports = <expr>` in the common case; when TLA is present and allowed (`wrap`/`preserve`), default exports write to `exports.default = <expr>` so the exports object stays stable for async wrapping.
+- `export * from` lowers to a `for...in` over the required module, skipping `default`, guarding on `hasOwnProperty`, and defining getters to mirror live bindings.
+- Named re-exports from another module (`export { foo as bar } from`) use getters when `liveBindings: 'strict'`, otherwise snapshot assignment; `default` re-exports still use the interop helper.
+
+## Top-level await
+
+- `topLevelAwait: 'error'` (default) throws during transform when a TLA is found while targeting CommonJS.
+- `topLevelAwait: 'wrap'` wraps the entire CJS output in `const __tla = (async () => { ...; return module.exports; })();` and attaches `__tla` to both `module.exports` and the resolved value. Consumers can await `require('./file').__tla` for readiness.
+- `topLevelAwait: 'preserve'` runs the lowered code inside an immediately-invoked async function but does not attach a promise; consumers must rely on the natural scheduling of async effects.
+- In both allowed modes, default exports write to `exports.default` instead of replacing `module.exports` to keep the exports object consistent while async initialization completes.
+- Fixture: `test/fixtures/topLevelAwait.mjs` plus tests in `test/module.ts` cover both `wrap` and `preserve` behaviors.
+
+## import.meta rewriting
+
+- `import.meta.url` → `require("node:url").pathToFileURL(__filename).href`
+- `import.meta.filename` → `__filename`
+- `import.meta.dirname` → `__dirname`
+- `import.meta.resolve` → `require.resolve`
+- `import.meta.main` → configurable: default shim to `process.argv[1] === __filename`; with `importMetaMain: 'warn'` a warning is embedded for Node <22.18/24.2; with `importMetaMain: 'error'` the transform throws on those runtimes.
+- Bare `import.meta` becomes `module` so property accesses stay valid in CJS output.
+
+## Fixtures for this phase
+
+- `test/fixtures/esmDefault.mjs`: default import from the CJS provider, re-exported as default for interop checks (default import yields the CJS module object).
+- `test/fixtures/esmNamed.mjs`: named import and aliasing from the CJS provider, re-exported for assertions.
+- `test/fixtures/esmNamespace.mjs`: namespace import shape from the CJS provider, re-exported as `ns`.
+- `test/fixtures/esmReexport.mjs`: named + star re-exports from the CJS provider (includes live binding passthrough).
+- `test/fixtures/liveReexport.mjs`: re-export from a mutating CJS source; exercised when `liveBindings: 'strict'` to verify getter-based live bindings.
+- `test/fixtures/esmProvider.cjs`: CJS source exposing default/named exports plus a mutating `live` counter for binding checks (interval is `unref()`ed; tests wait ≥30ms to observe changes).

package.json

@@ -1,6 +1,6 @@
 {
   "name": "@knighted/module",
-  "version": "1.0.0-beta.1",
+  "version": "1.0.0-beta.2",
   "description": "Transforms differences between ES modules and CommonJS.",
   "type": "module",
   "main": "dist/module.js",