diff --git a/compiler/tests/org/jetbrains/kotlin/checkers/AbstractJetDiagnosticsTestWithJsStdLib.java b/compiler/tests/org/jetbrains/kotlin/checkers/AbstractJetDiagnosticsTestWithJsStdLib.java
index 7d8027dd19a..5da39652045 100644
--- a/compiler/tests/org/jetbrains/kotlin/checkers/AbstractJetDiagnosticsTestWithJsStdLib.java
+++ b/compiler/tests/org/jetbrains/kotlin/checkers/AbstractJetDiagnosticsTestWithJsStdLib.java
@@ -23,22 +23,19 @@ import org.jetbrains.kotlin.cli.jvm.compiler.EnvironmentConfigFiles;
 import org.jetbrains.kotlin.cli.jvm.compiler.JetCoreEnvironment;
 import org.jetbrains.kotlin.config.CompilerConfiguration;
 import org.jetbrains.kotlin.context.GlobalContext;
-import org.jetbrains.kotlin.descriptors.ModuleDescriptor;
 import org.jetbrains.kotlin.descriptors.impl.ModuleDescriptorImpl;
 import org.jetbrains.kotlin.js.analyze.TopDownAnalyzerFacadeForJS;
 import org.jetbrains.kotlin.js.config.EcmaVersion;
+import org.jetbrains.kotlin.js.config.LibrarySourcesConfig;
 import org.jetbrains.kotlin.js.config.LibrarySourcesConfigWithCaching;
 import org.jetbrains.kotlin.psi.JetFile;
-import org.jetbrains.kotlin.resolve.BindingContext;
 import org.jetbrains.kotlin.resolve.BindingTrace;
-import org.jetbrains.kotlin.resolve.DelegatingBindingTrace;
 
 import java.util.List;
 import java.util.Map;
 
 public abstract class AbstractJetDiagnosticsTestWithJsStdLib extends AbstractJetDiagnosticsTest {
-
-    private LibrarySourcesConfigWithCaching config;
+    private LibrarySourcesConfig config;
 
     @Override
     protected void setUp() throws Exception {
@@ -65,12 +62,7 @@ public abstract class AbstractJetDiagnosticsTestWithJsStdLib extends AbstractJet
             ModuleDescriptorImpl module,
             BindingTrace moduleTrace
     ) {
-        BindingContext libraryContext = config.getLibraryContext();
-        DelegatingBindingTrace trace = new DelegatingBindingTrace(libraryContext, "trace with preanalyzed library");
-
         TopDownAnalyzerFacadeForJS.analyzeFilesWithGivenTrace(jetFiles, moduleTrace, module, config);
-
-        trace.addAllMyDataTo(moduleTrace);
     }
 
     @Override
@@ -93,9 +85,9 @@ public abstract class AbstractJetDiagnosticsTestWithJsStdLib extends AbstractJet
         module.addDependencyOnModule(module);
         module.addDependencyOnModule(KotlinBuiltIns.getInstance().getBuiltInsModule());
 
-        ModuleDescriptor libraryModule = config.getLibraryModule();
-        assert libraryModule instanceof ModuleDescriptorImpl;
-        module.addDependencyOnModule((ModuleDescriptorImpl) libraryModule);
+        for(ModuleDescriptorImpl moduleDescriptor : config.getModuleDescriptors()) {
+            module.addDependencyOnModule(moduleDescriptor);
+        }
 
         module.seal();
 
diff --git a/js/js.frontend/js.frontend.iml b/js/js.frontend/js.frontend.iml
index 0d9bc35f0f2..8ead2455283 100644
--- a/js/js.frontend/js.frontend.iml
+++ b/js/js.frontend/js.frontend.iml
@@ -12,5 +12,7 @@
     <orderEntry type="module" module-name="js.dart-ast" exported="" />
     <orderEntry type="module" module-name="js.parser" exported="" />
     <orderEntry type="module" module-name="util" />
+    <orderEntry type="module" module-name="serialization" />
+    <orderEntry type="module" module-name="serialization.js" />
   </component>
 </module>
\ No newline at end of file
diff --git a/js/js.frontend/src/org/jetbrains/kotlin/js/analyze/TopDownAnalyzerFacadeForJS.java b/js/js.frontend/src/org/jetbrains/kotlin/js/analyze/TopDownAnalyzerFacadeForJS.java
index 871d506ff64..29047d4ada9 100644
--- a/js/js.frontend/src/org/jetbrains/kotlin/js/analyze/TopDownAnalyzerFacadeForJS.java
+++ b/js/js.frontend/src/org/jetbrains/kotlin/js/analyze/TopDownAnalyzerFacadeForJS.java
@@ -19,11 +19,9 @@ package org.jetbrains.kotlin.js.analyze;
 import com.google.common.collect.ImmutableList;
 import com.intellij.openapi.project.Project;
 import org.jetbrains.annotations.NotNull;
-import org.jetbrains.kotlin.analyzer.AnalysisResult;
 import org.jetbrains.kotlin.builtins.KotlinBuiltIns;
 import org.jetbrains.kotlin.context.ContextPackage;
 import org.jetbrains.kotlin.context.GlobalContextImpl;
-import org.jetbrains.kotlin.descriptors.ModuleDescriptor;
 import org.jetbrains.kotlin.descriptors.PackageFragmentProvider;
 import org.jetbrains.kotlin.descriptors.impl.ModuleDescriptorImpl;
 import org.jetbrains.kotlin.di.InjectorForTopDownAnalyzerForJs;
@@ -55,18 +53,16 @@ public final class TopDownAnalyzerFacadeForJS {
             @NotNull Collection<JetFile> files,
             @NotNull Config config
     ) {
-        BindingContext libraryContext = config.getLibraryContext();
-        BindingTrace trace = libraryContext == null
-                             ? new BindingTraceContext()
-                             : new DelegatingBindingTrace(libraryContext, "trace with preanalyzed library");
+        BindingTrace trace = new BindingTraceContext();
 
         ModuleDescriptorImpl module = createJsModule("<" + config.getModuleId() + ">");
         module.addDependencyOnModule(module);
         module.addDependencyOnModule(KotlinBuiltIns.getInstance().getBuiltInsModule());
-        ModuleDescriptor libraryModule = config.getLibraryModule();
-        if (libraryModule != null) {
-            module.addDependencyOnModule((ModuleDescriptorImpl) libraryModule); // "import" analyzed library module
+
+        for(ModuleDescriptorImpl moduleDescriptor : config.getModuleDescriptors()) {
+            module.addDependencyOnModule(moduleDescriptor);
         }
+
         module.seal();
 
         return analyzeFilesWithGivenTrace(files, trace, module, config);
@@ -85,10 +81,8 @@ public final class TopDownAnalyzerFacadeForJS {
         TopDownAnalysisParameters topDownAnalysisParameters = TopDownAnalysisParameters.create(
                 globalContext.getStorageManager(), globalContext.getExceptionTracker(), false, false);
 
-        Collection<JetFile> allFiles = config.getLibraryModule() != null ?
-                                       files :
-                                       Config.withJsLibAdded(files, config);
-        
+        Collection<JetFile> allFiles = Config.withJsLibAdded(files, config);
+
         InjectorForTopDownAnalyzerForJs injector = new InjectorForTopDownAnalyzerForJs(
                 project, topDownAnalysisParameters, trace, module,
                 new FileBasedDeclarationProviderFactory(topDownAnalysisParameters.getStorageManager(), allFiles));
@@ -113,5 +107,4 @@ public final class TopDownAnalyzerFacadeForJS {
     public static ModuleDescriptorImpl createJsModule(@NotNull String name) {
         return new ModuleDescriptorImpl(Name.special(name), DEFAULT_IMPORTS, PlatformToKotlinClassMap.EMPTY);
     }
-
 }
diff --git a/js/js.frontend/src/org/jetbrains/kotlin/js/config/Config.java b/js/js.frontend/src/org/jetbrains/kotlin/js/config/Config.java
index adab164e589..c2ea60bf37a 100644
--- a/js/js.frontend/src/org/jetbrains/kotlin/js/config/Config.java
+++ b/js/js.frontend/src/org/jetbrains/kotlin/js/config/Config.java
@@ -18,15 +18,19 @@ package org.jetbrains.kotlin.js.config;
 
 import com.google.common.collect.Lists;
 import com.intellij.openapi.project.Project;
+import com.intellij.util.SmartList;
 import kotlin.Function1;
 import kotlin.Unit;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
-import org.jetbrains.kotlin.descriptors.ModuleDescriptor;
+import org.jetbrains.kotlin.builtins.KotlinBuiltIns;
+import org.jetbrains.kotlin.descriptors.PackageFragmentProvider;
+import org.jetbrains.kotlin.descriptors.impl.CompositePackageFragmentProvider;
+import org.jetbrains.kotlin.descriptors.impl.ModuleDescriptorImpl;
+import org.jetbrains.kotlin.js.analyze.TopDownAnalyzerFacadeForJS;
 import org.jetbrains.kotlin.psi.JetFile;
-import org.jetbrains.kotlin.resolve.BindingContext;
-import org.jetbrains.kotlin.resolve.BindingTrace;
-import org.jetbrains.kotlin.resolve.BindingTraceContext;
+import org.jetbrains.kotlin.serialization.js.KotlinJavascriptSerializationUtil;
+import org.jetbrains.kotlin.utils.KotlinJavascriptMetadata;
 
 import java.util.Collection;
 import java.util.List;
@@ -39,8 +43,8 @@ public abstract class Config {
 
     @NotNull
     private final Project project;
-    @Nullable
-    private List<JetFile> libFiles = null;
+    @NotNull
+    private final List<JetFile> sourceFilesFromLibraries = new SmartList<JetFile>();
     @NotNull
     private final EcmaVersion target;
 
@@ -49,6 +53,14 @@ public abstract class Config {
 
     private final boolean sourcemap;
 
+    @NotNull
+    protected final List<KotlinJavascriptMetadata> metadata = new SmartList<KotlinJavascriptMetadata>();
+
+    @Nullable
+    private List<ModuleDescriptorImpl> moduleDescriptors = null;
+
+    private boolean initialized = false;
+
     public Config(
             @NotNull Project project,
             @NotNull String moduleId,
@@ -88,36 +100,59 @@ public abstract class Config {
 
     public abstract  boolean checkLibFilesAndReportErrors(@NotNull Function1<String, Unit> report);
 
-    @NotNull
-    protected abstract List<JetFile> generateLibFiles();
+    protected abstract void init(@NotNull List<JetFile> sourceFilesInLibraries, @NotNull List<KotlinJavascriptMetadata> metadata);
 
     @NotNull
-    public final List<JetFile> getLibFiles() {
-        if (libFiles == null) {
-            libFiles = generateLibFiles();
+    public List<ModuleDescriptorImpl> getModuleDescriptors() {
+        init();
+        if (moduleDescriptors != null) return moduleDescriptors;
+
+        moduleDescriptors = new SmartList<ModuleDescriptorImpl>();
+        for(KotlinJavascriptMetadata metadataEntry : metadata) {
+            moduleDescriptors.add(createModuleDescriptor(metadataEntry));
         }
-        return libFiles;
+
+        return moduleDescriptors;
     }
 
-    @Nullable
-    public BindingContext getLibraryContext() {
-        return null;
+    @NotNull
+    public List<JetFile> getSourceFilesFromLibraries() {
+        init();
+        return sourceFilesFromLibraries;
     }
 
-    @Nullable
-    public ModuleDescriptor getLibraryModule() {
-        return null;
+
+    public boolean isTestConfig() {
+        return false;
+    }
+
+    private void init() {
+        if (initialized) return;
+
+        init(sourceFilesFromLibraries, metadata);
+        initialized = true;
+    }
+
+    private static ModuleDescriptorImpl createModuleDescriptor(KotlinJavascriptMetadata metadata) {
+        ModuleDescriptorImpl moduleDescriptor = TopDownAnalyzerFacadeForJS.createJsModule("<" + metadata.getModuleName() + ">");
+
+        List<PackageFragmentProvider> providers = KotlinJavascriptSerializationUtil
+                .getPackageFragmentProviders(moduleDescriptor, metadata.getBody());
+        CompositePackageFragmentProvider compositePackageFragmentProvider = new CompositePackageFragmentProvider(providers);
+
+        moduleDescriptor.initialize(compositePackageFragmentProvider);
+        moduleDescriptor.addDependencyOnModule(moduleDescriptor);
+        moduleDescriptor.addDependencyOnModule(KotlinBuiltIns.getInstance().getBuiltInsModule());
+        moduleDescriptor.seal();
+
+        return moduleDescriptor;
     }
 
     @NotNull
     public static Collection<JetFile> withJsLibAdded(@NotNull Collection<JetFile> files, @NotNull Config config) {
         Collection<JetFile> allFiles = Lists.newArrayList();
         allFiles.addAll(files);
-        allFiles.addAll(config.getLibFiles());
+        allFiles.addAll(config.getSourceFilesFromLibraries());
         return allFiles;
     }
-
-    public boolean isTestConfig() {
-        return false;
-    }
 }
diff --git a/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfig.java b/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfig.java
index 063c8f885ee..9e15abab859 100644
--- a/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfig.java
+++ b/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfig.java
@@ -22,24 +22,24 @@ import com.intellij.openapi.util.text.StringUtil;
 import com.intellij.openapi.vfs.*;
 import com.intellij.psi.PsiFile;
 import com.intellij.psi.PsiManager;
+import com.intellij.util.PathUtil;
 import com.intellij.util.io.URLUtil;
 import kotlin.Function1;
 import kotlin.Function2;
 import kotlin.Unit;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
-import org.jetbrains.kotlin.js.JavaScript;
 import org.jetbrains.kotlin.idea.JetFileType;
+import org.jetbrains.kotlin.js.JavaScript;
 import org.jetbrains.kotlin.psi.JetFile;
+import org.jetbrains.kotlin.utils.KotlinJavascriptMetadata;
+import org.jetbrains.kotlin.utils.KotlinJavascriptMetadataUtils;
 import org.jetbrains.kotlin.utils.LibraryUtils;
 
 import java.io.File;
-import java.util.ArrayList;
-import java.util.Collections;
 import java.util.List;
 
-import static org.jetbrains.kotlin.utils.LibraryUtils.isKotlinJavascriptLibrary;
-import static org.jetbrains.kotlin.utils.LibraryUtils.isKotlinJavascriptStdLibrary;
+import static org.jetbrains.kotlin.utils.LibraryUtils.*;
 
 public class LibrarySourcesConfig extends Config {
     @NotNull
@@ -72,14 +72,10 @@ public class LibrarySourcesConfig extends Config {
         return files;
     }
 
-    @NotNull
     @Override
-    protected List<JetFile> generateLibFiles() {
-        if (files.isEmpty()) {
-            return Collections.emptyList();
-        }
+    protected void init(@NotNull final List<JetFile> sourceFilesInLibraries, @NotNull final List<KotlinJavascriptMetadata> metadata) {
+        if (files.isEmpty()) return;
 
-        final List<JetFile> jetFiles = new ArrayList<JetFile>();
         final PsiManager psiManager = PsiManager.getInstance(getProject());
 
         Function1<String, Unit> report = new Function1<String, Unit>() {
@@ -92,16 +88,22 @@ public class LibrarySourcesConfig extends Config {
         Function2<String, VirtualFile, Unit> action = new Function2<String, VirtualFile, Unit>() {
             @Override
             public Unit invoke(String moduleName, VirtualFile file) {
-                JetFileCollector jetFileCollector = new JetFileCollector(jetFiles, moduleName, psiManager);
-                VfsUtilCore.visitChildrenRecursively(file, jetFileCollector);
+                if (moduleName != null) {
+                    JetFileCollector jetFileCollector = new JetFileCollector(sourceFilesInLibraries, moduleName, psiManager);
+                    VfsUtilCore.visitChildrenRecursively(file, jetFileCollector);
+                }
+                else {
+                    String libraryPath = PathUtil.getLocalPath(file);
+                    assert libraryPath != null : "libraryPath for " + file + " should not be null";
+                    metadata.addAll(KotlinJavascriptMetadataUtils.loadMetadata(libraryPath));
+                }
+
                 return Unit.INSTANCE$;
             }
         };
 
         boolean hasErrors = checkLibFilesAndReportErrors(report, action);
         assert !hasErrors : "hasErrors should be false";
-
-        return jetFiles;
     }
 
     @Override
@@ -121,7 +123,6 @@ public class LibrarySourcesConfig extends Config {
 
         for (String path : files) {
             VirtualFile file;
-            String actualModuleName = moduleName;
             if (path.charAt(0) == '@') {
                 moduleName = path.substring(1);
                 continue;
@@ -145,20 +146,22 @@ public class LibrarySourcesConfig extends Config {
                 return true;
             }
             else {
-                if (isKotlinJavascriptStdLibrary(filePath)) {
-                    actualModuleName = STDLIB_JS_MODULE_NAME;
+                String actualModuleName;
+
+                if (moduleName != null) {
+                    actualModuleName = moduleName;
                 }
-                else if (isKotlinJavascriptLibrary(filePath)) {
+                else if (isOldKotlinJavascriptLibrary(filePath)) {
                     actualModuleName = LibraryUtils.getKotlinJsModuleName(filePath);
                 }
-                else if (actualModuleName == null) {
+                else if (isKotlinJavascriptLibraryWithMetadata(filePath)) {
+                    actualModuleName = null;
+                }
+                else {
                     report.invoke("'" + path + "' is not a valid Kotlin Javascript library");
                     return true;
                 }
-                if (actualModuleName == null) {
-                    report.invoke("Could not find " + LibraryUtils.KOTLIN_JS_MODULE_NAME + " for '" + path + "'");
-                    return true;
-                }
+
                 if (action != null) {
                     action.invoke(actualModuleName, file);
                 }
@@ -169,7 +172,7 @@ public class LibrarySourcesConfig extends Config {
         return false;
     }
 
-    protected JetFile getJetFileByVirtualFile(VirtualFile file, String moduleName, PsiManager psiManager) {
+    protected static JetFile getJetFileByVirtualFile(VirtualFile file, String moduleName, PsiManager psiManager) {
         PsiFile psiFile = psiManager.findFile(file);
         assert psiFile != null;
 
@@ -181,7 +184,7 @@ public class LibrarySourcesConfig extends Config {
         psiFile.putUserData(EXTERNAL_MODULE_NAME, moduleName);
     }
 
-    private class JetFileCollector extends VirtualFileVisitor {
+    private static class JetFileCollector extends VirtualFileVisitor {
         private final List<JetFile> jetFiles;
         private final String moduleName;
         private final PsiManager psiManager;
diff --git a/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfigWithCaching.java b/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfigWithCaching.java
index d16d0375024..999c5995be1 100644
--- a/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfigWithCaching.java
+++ b/js/js.frontend/src/org/jetbrains/kotlin/js/config/LibrarySourcesConfigWithCaching.java
@@ -17,35 +17,20 @@
 package org.jetbrains.kotlin.js.config;
 
 import com.intellij.openapi.project.Project;
-import com.intellij.openapi.util.text.StringUtil;
-import com.intellij.openapi.vfs.VirtualFile;
-import com.intellij.psi.PsiManager;
-import kotlin.Function1;
-import kotlin.Unit;
+import com.intellij.util.SmartList;
 import org.jetbrains.annotations.NotNull;
-import org.jetbrains.annotations.Nullable;
-import org.jetbrains.kotlin.analyzer.AnalysisResult;
-import org.jetbrains.kotlin.descriptors.ModuleDescriptor;
-import org.jetbrains.kotlin.js.analyze.TopDownAnalyzerFacadeForJS;
 import org.jetbrains.kotlin.psi.JetFile;
-import org.jetbrains.kotlin.psi.JetPsiFactory;
-import org.jetbrains.kotlin.resolve.BindingContext;
+import org.jetbrains.kotlin.utils.KotlinJavascriptMetadata;
 import org.jetbrains.kotlin.utils.PathUtil;
 
-import java.io.IOException;
-import java.util.Arrays;
 import java.util.Collections;
 import java.util.List;
 
 public class LibrarySourcesConfigWithCaching extends LibrarySourcesConfig {
     public static final List<String> JS_STDLIB =
-            Arrays.asList(PathUtil.getKotlinPathsForDistDirectory().getJsStdLibJarPath().getAbsolutePath());
+            Collections.singletonList(PathUtil.getKotlinPathsForDistDirectory().getJsStdLibJarPath().getAbsolutePath());
 
-    private static List<JetFile> jsLibFiles;
-    private static AnalysisResult result;
-
-    private BindingContext libraryContext;
-    private ModuleDescriptor libraryModule;
+    private static List<KotlinJavascriptMetadata> stdlibMetadata = null;
 
     private final boolean isUnitTestConfig;
 
@@ -61,85 +46,19 @@ public class LibrarySourcesConfigWithCaching extends LibrarySourcesConfig {
         this.isUnitTestConfig = isUnitTestConfig;
     }
 
-    @NotNull
     @Override
-    public List<JetFile> generateLibFiles() {
-        if (jsLibFiles == null) {
+    protected  void init(@NotNull List<JetFile> sourceFilesInLibraries, @NotNull List<KotlinJavascriptMetadata> metadata) {
+        if (stdlibMetadata == null) {
             //noinspection AssignmentToStaticFieldFromInstanceMethod
-            jsLibFiles = super.generateLibFiles();
-        }
-        return jsLibFiles;
-    }
-
-
-
-    @Nullable
-    @Override
-    public ModuleDescriptor getLibraryModule() {
-        if (libraryModule == null) {
-            libraryModule = getResult().getModuleDescriptor();
+            stdlibMetadata = new SmartList<KotlinJavascriptMetadata>();
+            super.init(sourceFilesInLibraries, stdlibMetadata);
         }
 
-        return libraryModule;
-    }
-
-    @Nullable
-    @Override
-    public BindingContext getLibraryContext() {
-        if (libraryContext == null) {
-            //TODO check errors?
-            // TopDownAnalyzerFacadeForJS.checkForErrors(allLibFiles, result.getBindingContext());
-            libraryContext = getResult().getBindingContext();
-        }
-
-        return libraryContext;
+        metadata.addAll(stdlibMetadata);
     }
 
     @Override
     public boolean isTestConfig() {
         return isUnitTestConfig;
     }
-
-    @Override
-    protected JetFile getJetFileByVirtualFile(VirtualFile file, String moduleName, PsiManager psiManager) {
-        JetFile jetFile;
-        try {
-            String text = StringUtil.convertLineSeparators(new String(file.contentsToByteArray(false), file.getCharset()));
-            jetFile = new JetPsiFactory(getProject()).createPhysicalFile(file.getName(), text);
-        }
-        catch (IOException e) {
-            JetFile jetFileByVirtualFile = super.getJetFileByVirtualFile(file, moduleName, psiManager);
-            jetFile = new JetPsiFactory(getProject()).createPhysicalFile(file.getPath(), jetFileByVirtualFile.getText());
-        }
-
-        setupPsiFile(jetFile, moduleName);
-        return jetFile;
-    }
-
-    private AnalysisResult getResult() {
-        if (result == null) {
-            //noinspection AssignmentToStaticFieldFromInstanceMethod
-            result = TopDownAnalyzerFacadeForJS.analyzeFiles(
-                    generateLibFiles(),
-                    createConfigWithoutLibFiles(getProject(), getModuleId(), getTarget())
-            );
-        }
-
-        return result;
-    }
-
-    @NotNull
-    private static Config createConfigWithoutLibFiles(@NotNull Project project, @NotNull String moduleId, @NotNull EcmaVersion ecmaVersion) {
-        return new Config(project, moduleId, ecmaVersion, /* generate sourcemaps = */ false, /* inlineEnabled = */ false) {
-            @NotNull
-            @Override
-            protected List<JetFile> generateLibFiles() {
-                return Collections.emptyList();
-            }
-            @Override
-            public boolean checkLibFilesAndReportErrors(@NotNull Function1<String, Unit> report) {
-                return false;
-            }
-        };
-    }
 }