Billboard shader, Model matrix?

[AGulev]

I think @Dragosha has an example somewhere, not sure.
I saw something in this issue True Billboards for 3D (label, sprite, particles components) · Issue #6820 · defold/defold · GitHub
vp hsader:

gl_Position = (view_proj * vec4(position.xyz - local_position.xyz, 1.0)) + (proj * vec4(local_position.xy, 0.0, 0.0));

materials:

attributes {
  name: "local_position"
  semantic_type: SEMANTIC_TYPE_POSITION
  element_count: 3
  normalize: false
  data_type: TYPE_FLOAT
  coordinate_space: COORDINATE_SPACE_LOCAL
  double_values {
    v: 0.0
    v: 0.0
    v: 0.0
  }
}