Instructions Reference#

All Seesaw protocol instructions, with discriminators, accounts, and arguments. The complete account-list appendix includes every live instruction's ordered accounts, shared groups, conditional tails, and signer/writable roles, generated from the SDK builders and checked against the Rust live-tag inventory.

Instruction Overview#

Instruction Discriminators#

The live public ABI has 77 instructions spanning 0x00–0x5A. Live blocks are 0x00–0x30, 0x33–0x37, 0x40–0x49, 0x4D–0x4E, 0x50–0x56, and 0x57–0x5A. Tags 0x31–0x32 are reserved wire holes; 0x38–0x3F, 0x4A–0x4C, and 0x4F are frozen legacy-Reclaim tombstones. Reclaim V1 uses 0x52–0x56, and native oracle observations use 0x57–0x5A; internal binary event recording uses 0xFF. The retired oracle-governance tags and config fields are absent. Consequently, there is no live pending Pyth program-ID update to apply.

#	Instruction	Discriminator	Category
0	`initialize_config`	`0x00`	Configuration
1	`update_authority`	`0x01`	Authority
2	`claim_authority`	`0x02`	Authority
3	`create_market`	`0x03`	Market Lifecycle
4	`snapshot_end`	`0x04`	Market Lifecycle
5	`resolve_market`	`0x05`	Market Lifecycle
6	`expire_market`	`0x06`	Market Lifecycle
7	`mint_shares`	`0x07`	Token/Settlement
8	`deposit_funds`	`0x08`	Free Funds
9	`withdraw_funds`	`0x09`	Free Funds
10	`withdraw_shares`	`0x0A`	Token/Settlement
11	`place_order`	`0x0B`	Trading
12	`place_multiple_post_only_orders`	`0x0C`	Trading
13	`swap_with_free_funds`	`0x0D`	Trading
14	`place_limit_order_with_free_funds`	`0x0E`	Trading
15	`place_multiple_post_only_orders_with_free_funds`	`0x0F`	Trading
16	`cancel_order`	`0x10`	Trading
17	`cancel_multiple_orders_by_id`	`0x11`	Trading
18	`cancel_all_orders`	`0x12`	Trading
19	`cancel_up_to`	`0x13`	Trading
20	`reduce_order`	`0x14`	Trading
21	`cancel_multiple_orders_by_id_with_free_funds`	`0x15`	Trading
22	`cancel_all_orders_with_free_funds`	`0x16`	Trading
23	`cancel_up_to_with_free_funds`	`0x17`	Trading
24	`reduce_order_with_free_funds`	`0x18`	Trading
25	`reclaim_expired_order`	`0x19`	Trading
26	`redeem`	`0x1A`	Token/Settlement
27	`force_close`	`0x1B`	Token/Settlement
28	`mark_position_settled`	`0x1C`	Token/Settlement
29	`close_position`	`0x1D`	Token/Settlement
30	`close_market`	`0x1E`	Market Lifecycle
31	`update_fee_config`	`0x1F`	Admin
32	`update_treasury_recipients`	`0x20`	Admin
33	`set_referrer`	`0x21`	Referral
34	`init_referrer_earnings_account`	`0x22`	Referral
35	`claim_creator_fees`	`0x23`	Fees
36	`claim_referrer_earnings`	`0x24`	Referral
37	`pause`	`0x25`	Admin
38	`unpause`	`0x26`	Admin
39	`enable_post_only_mode`	`0x27`	Admin
40	`disable_post_only_mode`	`0x28`	Admin
41	`update_tick_size`	`0x29`	Admin
42	`update_min_resting_notional`	`0x2A`	Admin
43	`update_market_cap`	`0x2B`	Admin
44	`set_market_emergency_status`	`0x2C`	Admin
45	`force_cancel_market_orders`	`0x2D`	Admin
46	`ensure_trader_ledger_space`	`0x2E`	Market Lifecycle
47	`update_operational_params`	`0x2F`	Admin
48	`recover_spline`	`0x30`	Splines
51	`ensure_deep_orderbook_space`	`0x33`	Market Lifecycle
52	`set_pauser`	`0x34`	Admin
53	`top_up_closer_rewards`	`0x35`	Market Lifecycle
54	`rollup_referral_fees`	`0x36`	Referral
55	`initialize_referrer_treasury_shard`	`0x37`	Referral
—	frozen legacy Reclaim bridge	`0x38–0x3F`	Tombstone
64	`init_spline`	`0x40`	Splines
65	`update_spline_shape`	`0x41`	Splines
66	`update_spline_mid`	`0x42`	Splines
67	`attach_spline`	`0x43`	Splines
68	`settle_spline`	`0x44`	Splines
69	`deposit_spline_vault`	`0x45`	Splines
70	`withdraw_spline_vault`	`0x46`	Splines
71	`close_spline`	`0x47`	Splines
72	`init_resolver_registry`	`0x48`	Resolver Registry
73	`update_resolver_registry`	`0x49`	Resolver Registry
—	frozen legacy external lifecycle	`0x4A–0x4C`	Tombstone
77	`expire_external_market`	`0x4D`	External Markets
78	`shrink_preallocated_child`	`0x4E`	External Markets
—	frozen legacy external preallocation	`0x4F`	Tombstone
80	`reclaim_external_market_preallocation`	`0x50`	External Markets
81	`top_up_external_progress_reserve`	`0x51`	External Markets
82	`begin_reclaim_external_market_v1`	`0x52`	Reclaim V1
83	`open_reclaim_external_market_v1`	`0x53`	Reclaim V1
84	`resolve_external_market_with_reclaim_v1`	`0x54`	Reclaim V1
85	`halt_external_market_with_reclaim_v1`	`0x55`	Reclaim V1
86	`extend_external_close_with_reclaim_v1`	`0x56`	Reclaim V1
87	`record_oracle_observation`	`0x57`	Native Oracle
88	`submit_oracle_observation`	`0x58`	Native Oracle
89	`finalize_oracle_observation`	`0x59`	Native Oracle
90	`close_oracle_observation`	`0x5A`	Native Oracle
-	`log`	`0xFF`	Internal Event

Per-instruction sections below do not yet cover the external-market block (0x48–0x56). For their accounts, arguments, and validation rules use spec/IX.md, which is drift-checked against program/src/instruction.rs by make idl-check.

See Market-maker spline live surface for the full spline account layout, instruction data, and attachment model.

Compute units: The "Compute Units" figures in the per-instruction sections below are approximate estimates for budgeting only. Actual consumption varies with account state, matching depth, and runtime version — always benchmark against the deployed program and size your transaction CU limits with headroom.

Account-list convention#

Tables below list base accounts before the recorder suffix. On the current native dispatch surface, every live public route except 0x33, 0x42, 0x48, 0x4E and 0x51 requires the terminal read-only pair [self_program, log_authority]. Append it after any instruction-specific tails. self_program must be this executable program; log_authority must be its canonical PDA. A missing or malformed pair rejects before instruction parsing. The five exceptions are intentionally eventless; follow their exact account contracts rather than appending a recorder pair indiscriminately.

This reference describes the currently shipped native ABI. Reserved tags and permanent tombstones have no usable account or argument surface. LOG is an internal self-CPI route, not a public transaction instruction.

initialize_config#

One-time protocol initialization. Creates the config PDA, records the initial authority and treasury, validates the default settlement mint, and writes the default capped-linear-decay fee curve and four-way allocation.

Accounts#

#	Account	Signer	Writable	Description
0	config	-	W	Config PDA
1	authority	S	W	Upgrade authority and rent payer
2–9	treasury_recipients[0..7]	-	-	Eight distinct settlement-token fee recipients
10	default_settlement_mint	-	-	Settlement mint
11	system_program	-	-	System Program
12	program_data	-	-	Upgradeable program data

InitializeConfig has 13 base accounts plus the required recorder pair: 15 total.

Arguments#

Field	Type	Description
tick_size_bps	u16	Price tick size

The fee fields are initialized from shipped protocol defaults: fee_cap_bps = 200, decay_rate_bps = 400, protocol_fee_bps = 5_000, maker_rebate_share_bps = 4_000, default_creator_fee_bps = 500, referral_share_bps_of_fee = 500, and maker_rebate_min_rest_seconds = 10. These are initialization values, not an attestation of deployed config.

The shipped allocation is 50% protocol / 5% creator / 5% referral / 40% maker rebate. Eligible maker fills credit the maker's free quote balance; ineligible maker allocation and rounding dust go to protocol, as does the referral allocation without an eligible referrer. See fee constants and allocation details.

Constraint: authority must sign and must match the upgrade authority stored in program_data.

Compute Units#

~6,000 CU

create_market#

Create a new market for a configured Pyth feed and duration. The instruction initializes all market PDAs, validates the settlement mint, captures the first valid price from a transient Receiver PriceUpdateV2 account, and transitions the market into trading. Pyth Pull is the only supported oracle path.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	orderbook	-	W	Orderbook PDA
2	vault	-	W	SPL Token vault PDA
3	yes_mint	-	W	YES mint PDA
4	no_mint	-	W	NO mint PDA
5	asset_state	-	W	Per-feed asset state PDA
6	config	-	W	Protocol config; increments `markets_created`
7	price_update	-	-	Pyth price feed: transient Receiver `PriceUpdateV2`
8	settlement_mint	-	-	USDT/SPL settlement mint
9	payer	S	W	Rent payer and market creator
10	system_program	-	-	System Program
11	token_program	-	-	SPL Token Program
12	yes_escrow	-	W	Market-owned YES escrow token account
13	no_escrow	-	W	Market-owned NO escrow token account
14	trader_ledger	-	W	Market-owned trader ledger PDA

Arguments#

Field	Type	Description
max_confidence_ratio_bps	u16	Max Pyth confidence interval as bps of price; `0` disables this market guard
duration_seconds	u64	Market duration, bounded by protocol min/max
max_oracle_jump_bps	u32	Optional per-market start-to-end jump guard; `0` uses the protocol default
bids_size	u32	Deep-orderbook bid-side capacity tier: 64, 128, 256, 512, 1024, 2048, or 4096
asks_size	u32	Deep-orderbook ask-side capacity tier; must equal `bids_size`
num_seats	u32	Trader-ledger seat count; must be one of the twelve recognized layout tiers; activation is capped at 4,225 seats

market_id is derived from the current timestamp and duration_seconds; clients do not pass it directly in the current instruction data. bids_size and asks_size select the symmetric deep-orderbook tier and must be one of 64, 128, 256, 512, 1024, 2048, 4096. num_seats must be one of TRADER_LEDGER_SEAT_OPTIONS and no greater than MAX_ACTIVATABLE_TRADER_LEDGER_SEATS — see Market Capacity.

Compute Units#

~25,000 CU

snapshot_end#

Capture the closing price from a transient Pyth Receiver PriceUpdateV2.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	price_update	-	-	Transient Receiver `PriceUpdateV2`
2	settler	S	W	Permissionless settlement caller
3	config	-	-	Protocol config

The four base accounts require the two-account recorder suffix: six total.

Arguments#

None.

Compute Units#

~15,000 CU (includes order cancellation)

Side Effects#

All open orders are cancelled
Collateral/shares returned to users

place_order#

Submit a Limit, PostOnly or ImmediateOrCancel order.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	orderbook	-	W	Orderbook PDA
2	user_position	-	W	User position PDA
3	user_token_account	-	W	User's settlement-token account
4	vault	-	W	Market vault
5	user	S	W	Order owner
6	config	-	-	Protocol config
7	treasury_token_account	-	W	Protocol fee recipient
8	token_program	-	-	SPL Token Program
9	system_program	-	-	System Program, used when creating position PDA
10	settlement_mint	-	-	Settlement mint
11	yes_escrow	-	W	Market-owned YES escrow
12	no_escrow	-	W	Market-owned NO escrow
13	user_yes_ata	-	W	User YES token account
14	user_no_ata	-	W	User NO token account
15	yes_mint	-	W	YES mint PDA
16	no_mint	-	W	NO mint PDA
17	trader_ledger	-	W	Market-owned trader ledger PDA

After the 18-account prefix, a spline-enabled market requires its one writable creator spline at index 18. Next comes an optional single taker_referral_account (read-only ReferralAccount), then the mandatory recorder pair. The old referrer-wallet/earnings/treasury triple is not accepted. Total accounts: 20–21 without a spline, 21–22 with the creator spline.

Arguments#

Field	Type	Description
side	u8	0=BuyYes, 1=SellYes, 2=BuyNo, 3=SellNo
price_bps	u16	Limit price [1, 9999]
quantity	u64	Share quantity
order_type	u8	0=Limit, 1=PostOnly, 2=IOC
worst_acceptable_price_bps	u16	IOC-only bound; `0` on canonical Bid or `10000` on canonical Ask disables it; ignored for Limit/PostOnly
min_fill_quantity	u64	IOC-only atomic minimum matched quantity; `0` disables; ignored for Limit/PostOnly
match_limit	u8	Wire domain `0..=12`; `0` uses the protocol default; counts maker iterations including evictions and self-trade hits
self_trade_behavior	u8	`0=Abort`, `1=CancelProvide`, `2=DecrementTake`
max_age_seconds	u32	TTL for this order's resting remainder; zero selects market close, nonzero is capped at that close
reject_post_only_would_cross	u8	PostOnly: `1` rejects with WouldCross; `0` slides one tick beyond the crossing maker, rejecting if no valid price remains
protocol_treasury_index	u8	Preference in `[0,8)`; the supplied config-approved recipient determines the effective index; unregistered recipient rejects

Compute Units#

~15,000 - 50,000 CU (depends on matching)

cancel_order#

Remove an open order.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	orderbook	-	W	Orderbook PDA
2	user_position	-	W	User position PDA
3	user_token_account	-	W	User settlement-token account
4	vault	-	W	Market vault
5	user	S	-	Order owner
6	token_program	-	-	SPL Token Program
7	settlement_mint	-	-	Settlement mint
8	yes_escrow	-	W	YES escrow
9	no_escrow	-	W	NO escrow
10	user_yes_ata	-	W	User YES token account
11	user_no_ata	-	W	User NO token account
12	yes_mint	-	W	YES mint
13	no_mint	-	W	NO mint
14	trader_ledger	-	W	Trader-ledger PDA

Fifteen base accounts plus the required recorder pair: 17 total.

Arguments#

Field	Type	Description
order_id	u64	Order to cancel

Compute Units#

~8,000 CU

resolve_market#

Determine outcome from snapshots.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	asset_state	-	W	Asset-state PDA bound to the market feed
2	caller	S	W	Permissionless caller; receives closer reward
3	config	-	-	Protocol config
4	vault	-	W	Market vault
5	creator_token_account	-	W	Creator fee destination
6	settlement_mint	-	-	Settlement mint
7	token_program	-	-	SPL Token Program

Eight base accounts plus the required recorder pair: 10 total.

Arguments#

None.

Compute Units#

~6,000 CU

Resolution Logic#

if end_price >= start_price:

outcome = UP (1)

else:

outcome = DOWN (2)

mint_shares (0x07)#

Deposit USDT to receive equal YES + NO tokens.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	yes_mint	-	W	YES mint
2	no_mint	-	W	NO mint
3	user_yes_ata	-	W	User YES token account
4	user_no_ata	-	W	User NO token account
5	user_stablecoin_ata	-	W	User settlement-token account
6	vault	-	W	Market vault
7	user	S	-	User
8	config	-	-	Protocol config
9	token_program	-	-	SPL Token Program
10	settlement_mint	-	-	Settlement mint

Eleven base accounts plus the required recorder pair: 13 total.

Arguments#

Field	Type	Description
amount	u64	Amount of USDT to deposit

Compute Units#

~15,000 CU

redeem (0x1A)#

Burn winning tokens for USDT after resolution.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	yes_mint	-	W	YES mint
2	no_mint	-	W	NO mint
3	user_yes_ata	-	W	User YES token account
4	user_no_ata	-	W	User NO token account
5	user_stablecoin_ata	-	W	User settlement-token account
6	vault	-	W	Market vault
7	user	S	-	User
8	token_program	-	-	SPL Token Program
9	settlement_mint	-	-	Settlement mint

External markets require read-only market_meta next; native markets omit it. An optional all-or-none writable trio [user_position, orderbook, trader_ledger] follows. The recorder pair is always last. Native totals are 12 or 15 accounts; external totals are 13 or 16.

Arguments#

Field	Type	Description
amount	u64	Amount of tokens to redeem
token_type	u8	Which token to redeem (0=Yes, 1=No)

Compute Units#

~15,000 CU

Payout Calculation#

if outcome == UP: burn YES tokens → receive USDT 1:1

if outcome == DOWN: burn NO tokens → receive USDT 1:1

if outcome == EXPIRED: burn either → receive USDT at 50%

withdraw_shares (0x0A)#

Convert trader-ledger free YES/NO share credits to SPL tokens.

Compute Units#

~10,000 CU

force_close (0x1B)#

Force-close position in expired/unresolved market. Returns full collateral.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	position	-	W	User position PDA
2	vault	-	W	Market vault
3	user_stablecoin_ata	-	W	User's USDT account
4	caller	S	-	Caller (permissionless)
5	config	-	-	Protocol config
6	token_program	-	-	SPL Token Program
7	settlement_mint	-	-	Settlement token mint

Prerequisites#

code

current_time >= t_end + expiration_window AND outcome == 0

Compute Units#

~12,000 CU

close_market (0x1E)#

Close resolved market after 7-day timeout. Transfers rent to creator.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	creator	-	W	Market creator (rent target)
2	caller	S	-	Caller (permissionless)
3	config	-	-	Protocol config
4	system_program	-	-	System Program
5	vault	-	W	Market settlement vault
6	token_program	-	-	SPL Token Program
7	orderbook	-	W	Market orderbook PDA
8	yes_escrow	-	W	YES escrow PDA
9	no_escrow	-	W	NO escrow PDA
10	trader_ledger	-	W	Dynamic ledger PDA
11	creator_stablecoin_ata	-	W	Creator settlement ATA

After the 12-account prefix, native tails are empty or the writable [yes_mint, no_mint] pair. External tails are [market_meta] or [market_meta, yes_mint, no_mint]; market_meta is writable. The mint pair is needed when donated share surplus must be burned. Every form then appends the mandatory recorder pair. Native totals are 14 or 16; external totals are 15 or 17.

Prerequisites#

code

current_time >= resolved_at + 604800 AND outcome != 0

Compute Units#

~8,000 CU

State Transitions#

Error Codes#

Seesaw uses a custom #[repr(u32)] error enum (SeesawError) with category-prefixed hex codes that surface as ProgramError::Custom(code). Codes are not in the Anchor 6000+ range. A representative selection (see the SeesawError enum in the program source for the exhaustive list):

Code	Name	Category	Description
0x1001	`MarketExists`	Market	Market already exists
0x1002	`InvalidState`	Market	Wrong market state for the operation
0x1005	`AlreadyResolved`	Market	Market already resolved
0x1011	`InvalidStateTransition`	Market	Illegal lifecycle transition
0x2001	`OracleMismatch`	Oracle	Oracle account does not match market
0x2002	`StaleOracle`	Oracle	Oracle price too old
0x2003	`InvalidPrice`	Oracle	Non-positive / invalid oracle price
0x2005	`FeedIdMismatch`	Oracle	Pyth feed id mismatch
0x3001	`InvalidQuantity`	Order	Order quantity out of range
0x3004	`WouldCross`	Order	Post-only order would cross the book
0x3007	`SlippageExceeded`	Order	Fill price worse than slippage guard
0x4001	`MathOverflow`	Math	Checked arithmetic overflowed
0x5003	`InvalidPDA`	Account	PDA derivation mismatch
0x5005	`InsolvencyDetected`	Account	Solvency invariant would break
0x6001	`ProtocolPaused`	Position	Protocol is paused
0x7004	`SolvencyViolation`	Token	Token operation breaks solvency
0x8002	`InvalidFeeSplit`	Fee	Fee split does not sum to 10,000
0x9001	`NoPendingAuthority`	Authority	No pending authority to claim

Category ranges: Market 0x1001+, Oracle 0x2001+, Order 0x3001+, Math 0x4001, Account 0x5001+, Position 0x6001, Token 0x7001+, Fee/Treasury 0x8001+, Authority 0x9001+.

claim_creator_fees (0x23)#

Sweep deferred creator fees from the market vault to the creator's token account. Permissionless — anyone may call it, but fees are always sent to market.creator.

Accounts#

#	Account	Signer	Writable	Description
0	`market`	-	W	Market PDA
1	`vault`	-	W	Market vault (SPL Token, holds accumulated fees)
2	`creator_token_account`	-	W	Creator's token account for `market.settlement_mint`
3	`settlement_mint`	-	-	Settlement mint (TransferChecked)
4	`caller`	S	-	Permissionless caller (signer)
5	`token_program`	-	-	SPL Token Program

Arguments#

None.

Prerequisites#

code

market.outcome != 0 (resolved or expired)
market.accumulated_creator_fees > 0
creator_token_account.owner == market.creator
creator_token_account.mint == market.settlement_mint

Compute Units#

~10,000 CU

Side Effects#

Transfers accumulated_creator_fees USDT from vault to creator's token account via TransferChecked.
Zeroes market.accumulated_creator_fees.
Emits CreatorFeesClaimed event.

update_fee_config (0x1F)#

Admin-only. Retunes the capped-linear-decay curve, four-way allocation and maker resting-age gate atomically. Instruction argument names below differ from the stored config fields.

Accounts#

#	Account	Signer	Writable	Description
0	config	-	W	Config PDA
1	authority	S	-	Protocol authority

Arguments#

Field	Type	Description
fee_cap_bps	u16	New curve ceiling in bps of notional
decay_rate_bps	u16	New curve slope in bps of notional
protocol_share_bps	u16	Protocol share (bps of total fee)
creator_share_bps	u16	Creator share (bps of total fee)
referral_share_bps	u16	Referral share (bps of total fee)
maker_rebate_share_bps	u16	Eligible maker share (bps of total fee)
maker_rebate_min_rest_seconds	u32	Minimum age for rebate eligibility

Constraints:

protocol_share_bps + creator_share_bps + referral_share_bps + maker_rebate_share_bps == 10_000
fee_cap_bps <= 500 (hard ceiling of 5.00%)

Compute Units#

~3,500 CU

set_referrer (0x21)#

Permissionless. Binds a ReferralAccount PDA to a user, recording the referrer and the attribution timestamp. First-touch and immutable; an existing referral account cannot be overwritten.

Accounts#

#	Account	Signer	Writable	Description
0	referral_account	-	W	`ReferralAccount` PDA (user-scoped, to create)
1	user	S	W	User being attributed (pays rent)
2	referrer	-	-	Referrer wallet
3	referrer_earnings_account	-	-	Existing `ReferrerEarningsAccount` PDA for `referrer`
4	system_program	-	-	System Program

Arguments#

None (referrer is read from accounts[2]).

Prerequisites#

code

referral_account does not yet exist
referrer != user (self-referral rejected)
referrer_earnings_account.referrer == referrer

Compute Units#

~5,000 CU

Side Effects#

Writes ReferralAccount { referee: user, referrer, created_at: now, expires_at: now + REFERRAL_DURATION_SECONDS, ... } to PDA.
Emits ReferrerSet event.

init_referrer_earnings_account (0x22)#

Permissionless. Creates the per-referrer earnings escrow (ReferrerEarningsAccount PDA) if it doesn't exist. The referrer signs and pays rent. Also records which treasury shard the referrer is associated with for future claim_referrer_earnings calls.

Accounts#

#	Account	Signer	Writable	Description
0	referrer_earnings_account	-	W	Earnings PDA to create
1	referrer	S	W	Referrer and rent payer
2	treasury_shard	-	-	Preprovisioned canonical shard for treasury_index
3	settlement_mint	-	-	Config default settlement mint
4	config	-	-	Protocol config
5	system_program	-	-	System Program

Six base accounts plus the required recorder pair: eight total. The shard must already exist via InitializeReferrerTreasuryShard (0x37); this instruction does not create it and takes no token-program account.

Arguments#

Field	Type	Description
treasury_index	u8	Treasury shard index `∈ [0, 8)` for this referrer's fees

Compute Units#

~5,000 CU

claim_referrer_earnings (0x24)#

Sweep accumulated referrer earnings from the sharded referrer_treasury_k PDA to the referrer's token account. Permissionless — anyone may call it, but funds always go to the referrer.

Accounts#

#	Account	Signer	Writable	Description
0	referrer_earnings_account	-	W	Referrer's `ReferrerEarningsAccount` PDA
1	referrer_treasury_k	-	W	Sharded referral escrow token account selected by the earnings account `treasury_index`
2	referrer_token_account	-	W	Referrer's token account for `settlement_mint`
3	settlement_mint	-	-	Settlement mint (TransferChecked)
4	referrer	S	-	Referrer wallet
5	token_program	-	-	SPL Token Program
6	config	-	-	Config PDA

Arguments#

None.

Prerequisites#

code

referrer_earnings_account.accumulated > 0
referrer_token_account.owner == referrer
referrer_token_account.mint == config.default_settlement_mint

Compute Units#

~10,000 CU

Side Effects#

Transfers accumulated USDT from referrer_treasury_k to referrer_token_account via TransferChecked.
Zeroes referrer_earnings_account.accumulated, bumps total_claimed, and writes last_claim_at.
Emits ReferralClaimed event.

ensure_trader_ledger_space (0x2E)#

Pre-grow the TraderLedgerAccount PDA before CreateMarket. Because Solana caps account growth at MAX_PERMITTED_DATA_INCREASE (10,240 bytes) per instruction, ledgers larger than ~141 seats require multiple invocations. CreateMarket rejects a ledger that has not been fully pre-grown.

Idempotent: a no-op once the PDA is at target_size.

Accounts#

#	Account	Signer	Writable	Description
0	trader_ledger	-	W	Trader-ledger PDA (may not yet exist)
1	market	-	-	Parent market PDA (seeds for ledger PDA)
2	payer	S	W	Rent payer (any caller)
3	system_program	-	-	System Program

Arguments#

Field	Type	Description
target_size	u32	Final byte size the ledger should reach (`56 + num_seats × 72`)

Compute Units#

~5,000 CU per call

Usage#

code

ceil(target_size / 10240) invocations required before CreateMarket.
SDKs (@seesaw/core, sdk-rust, sdk-python) bundle this prelude automatically.

update_operational_params (0x2F)#

Admin-only. Post-deploy setter for nine operational parameters, including the currently shipped creator-spline controls listed below. Rate-limited to once per OPERATIONAL_PARAMS_RATE_LIMIT_SECONDS (3,600 s).

Accounts#

#	Account	Signer	Writable	Description
0	config	-	W	Config PDA
1	authority	S	-	Protocol authority

Arguments#

Field	Type	Description
closer_reward_lamports	u64	Lifecycle reward in lamports; `0` disables the bounty
max_price_staleness_seconds	u64	Oracle freshness seconds; `0` selects protocol default
market_expiration_window_seconds	u64	Expiry delay seconds; `0` selects protocol default
min_market_duration_seconds	u64	Minimum duration seconds; `0` selects protocol default
max_market_duration_seconds	u64	Maximum duration seconds; `0` selects protocol default
max_order_size	u64	Maximum share-token base units; must be nonzero
spline_flags	u8	Bit 0 enables spline attachment
spline_min_commitment	u64	Minimum stablecoin base-unit commitment; must be nonzero
spline_mid_jump_reset_bps	u16	Material mid-price jump threshold for resetting eligibility

All fields are supplied atomically; zero does not mean “leave unchanged.”

Constraint: Rate-limited by last_operational_params_update_at; returns OperationalParamsRateLimit (0x800D) if called within the cooldown window.

Compute Units#

~3,500 CU

Reserved discriminators 0x31–0x32#

Neither tag has an account or argument surface; dispatch rejects both with InvalidInstructionData. RecoverSpline occupies 0x30 and takes no payload after its discriminator. See the current spline account contract.

Next Steps#

PDAs — address derivation
Security — security model

Instructions Reference#

Instruction Overview#

Instruction Discriminators#

#	Instruction	Discriminator	Category
0	`initialize_config`	`0x00`	Configuration
1	`update_authority`	`0x01`	Authority
2	`claim_authority`	`0x02`	Authority
3	`create_market`	`0x03`	Market Lifecycle
4	`snapshot_end`	`0x04`	Market Lifecycle
5	`resolve_market`	`0x05`	Market Lifecycle
6	`expire_market`	`0x06`	Market Lifecycle
7	`mint_shares`	`0x07`	Token/Settlement
8	`deposit_funds`	`0x08`	Free Funds
9	`withdraw_funds`	`0x09`	Free Funds
10	`withdraw_shares`	`0x0A`	Token/Settlement
11	`place_order`	`0x0B`	Trading
12	`place_multiple_post_only_orders`	`0x0C`	Trading
13	`swap_with_free_funds`	`0x0D`	Trading
14	`place_limit_order_with_free_funds`	`0x0E`	Trading
15	`place_multiple_post_only_orders_with_free_funds`	`0x0F`	Trading
16	`cancel_order`	`0x10`	Trading
17	`cancel_multiple_orders_by_id`	`0x11`	Trading
18	`cancel_all_orders`	`0x12`	Trading
19	`cancel_up_to`	`0x13`	Trading
20	`reduce_order`	`0x14`	Trading
21	`cancel_multiple_orders_by_id_with_free_funds`	`0x15`	Trading
22	`cancel_all_orders_with_free_funds`	`0x16`	Trading
23	`cancel_up_to_with_free_funds`	`0x17`	Trading
24	`reduce_order_with_free_funds`	`0x18`	Trading
25	`reclaim_expired_order`	`0x19`	Trading
26	`redeem`	`0x1A`	Token/Settlement
27	`force_close`	`0x1B`	Token/Settlement
28	`mark_position_settled`	`0x1C`	Token/Settlement
29	`close_position`	`0x1D`	Token/Settlement
30	`close_market`	`0x1E`	Market Lifecycle
31	`update_fee_config`	`0x1F`	Admin
32	`update_treasury_recipients`	`0x20`	Admin
33	`set_referrer`	`0x21`	Referral
34	`init_referrer_earnings_account`	`0x22`	Referral
35	`claim_creator_fees`	`0x23`	Fees
36	`claim_referrer_earnings`	`0x24`	Referral
37	`pause`	`0x25`	Admin
38	`unpause`	`0x26`	Admin
39	`enable_post_only_mode`	`0x27`	Admin
40	`disable_post_only_mode`	`0x28`	Admin
41	`update_tick_size`	`0x29`	Admin
42	`update_min_resting_notional`	`0x2A`	Admin
43	`update_market_cap`	`0x2B`	Admin
44	`set_market_emergency_status`	`0x2C`	Admin
45	`force_cancel_market_orders`	`0x2D`	Admin
46	`ensure_trader_ledger_space`	`0x2E`	Market Lifecycle
47	`update_operational_params`	`0x2F`	Admin
48	`recover_spline`	`0x30`	Splines
51	`ensure_deep_orderbook_space`	`0x33`	Market Lifecycle
52	`set_pauser`	`0x34`	Admin
53	`top_up_closer_rewards`	`0x35`	Market Lifecycle
54	`rollup_referral_fees`	`0x36`	Referral
55	`initialize_referrer_treasury_shard`	`0x37`	Referral
—	frozen legacy Reclaim bridge	`0x38–0x3F`	Tombstone
64	`init_spline`	`0x40`	Splines
65	`update_spline_shape`	`0x41`	Splines
66	`update_spline_mid`	`0x42`	Splines
67	`attach_spline`	`0x43`	Splines
68	`settle_spline`	`0x44`	Splines
69	`deposit_spline_vault`	`0x45`	Splines
70	`withdraw_spline_vault`	`0x46`	Splines
71	`close_spline`	`0x47`	Splines
72	`init_resolver_registry`	`0x48`	Resolver Registry
73	`update_resolver_registry`	`0x49`	Resolver Registry
—	frozen legacy external lifecycle	`0x4A–0x4C`	Tombstone
77	`expire_external_market`	`0x4D`	External Markets
78	`shrink_preallocated_child`	`0x4E`	External Markets
—	frozen legacy external preallocation	`0x4F`	Tombstone
80	`reclaim_external_market_preallocation`	`0x50`	External Markets
81	`top_up_external_progress_reserve`	`0x51`	External Markets
82	`begin_reclaim_external_market_v1`	`0x52`	Reclaim V1
83	`open_reclaim_external_market_v1`	`0x53`	Reclaim V1
84	`resolve_external_market_with_reclaim_v1`	`0x54`	Reclaim V1
85	`halt_external_market_with_reclaim_v1`	`0x55`	Reclaim V1
86	`extend_external_close_with_reclaim_v1`	`0x56`	Reclaim V1
87	`record_oracle_observation`	`0x57`	Native Oracle
88	`submit_oracle_observation`	`0x58`	Native Oracle
89	`finalize_oracle_observation`	`0x59`	Native Oracle
90	`close_oracle_observation`	`0x5A`	Native Oracle
-	`log`	`0xFF`	Internal Event

Per-instruction sections below do not yet cover the external-market block (0x48–0x56). For their accounts, arguments, and validation rules use spec/IX.md, which is drift-checked against program/src/instruction.rs by make idl-check.

See Market-maker spline live surface for the full spline account layout, instruction data, and attachment model.

Compute units: The "Compute Units" figures in the per-instruction sections below are approximate estimates for budgeting only. Actual consumption varies with account state, matching depth, and runtime version — always benchmark against the deployed program and size your transaction CU limits with headroom.

Account-list convention#

initialize_config#

Accounts#

#	Account	Signer	Writable	Description
0	config	-	W	Config PDA
1	authority	S	W	Upgrade authority and rent payer
2–9	treasury_recipients[0..7]	-	-	Eight distinct settlement-token fee recipients
10	default_settlement_mint	-	-	Settlement mint
11	system_program	-	-	System Program
12	program_data	-	-	Upgradeable program data

InitializeConfig has 13 base accounts plus the required recorder pair: 15 total.

Arguments#

Field	Type	Description
tick_size_bps	u16	Price tick size

Constraint: authority must sign and must match the upgrade authority stored in program_data.

Compute Units#

~6,000 CU

create_market#

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	orderbook	-	W	Orderbook PDA
2	vault	-	W	SPL Token vault PDA
3	yes_mint	-	W	YES mint PDA
4	no_mint	-	W	NO mint PDA
5	asset_state	-	W	Per-feed asset state PDA
6	config	-	W	Protocol config; increments `markets_created`
7	price_update	-	-	Pyth price feed: transient Receiver `PriceUpdateV2`
8	settlement_mint	-	-	USDT/SPL settlement mint
9	payer	S	W	Rent payer and market creator
10	system_program	-	-	System Program
11	token_program	-	-	SPL Token Program
12	yes_escrow	-	W	Market-owned YES escrow token account
13	no_escrow	-	W	Market-owned NO escrow token account
14	trader_ledger	-	W	Market-owned trader ledger PDA

Arguments#

Field	Type	Description
max_confidence_ratio_bps	u16	Max Pyth confidence interval as bps of price; `0` disables this market guard
duration_seconds	u64	Market duration, bounded by protocol min/max
max_oracle_jump_bps	u32	Optional per-market start-to-end jump guard; `0` uses the protocol default
bids_size	u32	Deep-orderbook bid-side capacity tier: 64, 128, 256, 512, 1024, 2048, or 4096
asks_size	u32	Deep-orderbook ask-side capacity tier; must equal `bids_size`
num_seats	u32	Trader-ledger seat count; must be one of the twelve recognized layout tiers; activation is capped at 4,225 seats

Compute Units#

~25,000 CU

snapshot_end#

Capture the closing price from a transient Pyth Receiver PriceUpdateV2.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	price_update	-	-	Transient Receiver `PriceUpdateV2`
2	settler	S	W	Permissionless settlement caller
3	config	-	-	Protocol config

The four base accounts require the two-account recorder suffix: six total.

Arguments#

None.

Compute Units#

~15,000 CU (includes order cancellation)

Side Effects#

All open orders are cancelled
Collateral/shares returned to users

place_order#

Submit a Limit, PostOnly or ImmediateOrCancel order.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	orderbook	-	W	Orderbook PDA
2	user_position	-	W	User position PDA
3	user_token_account	-	W	User's settlement-token account
4	vault	-	W	Market vault
5	user	S	W	Order owner
6	config	-	-	Protocol config
7	treasury_token_account	-	W	Protocol fee recipient
8	token_program	-	-	SPL Token Program
9	system_program	-	-	System Program, used when creating position PDA
10	settlement_mint	-	-	Settlement mint
11	yes_escrow	-	W	Market-owned YES escrow
12	no_escrow	-	W	Market-owned NO escrow
13	user_yes_ata	-	W	User YES token account
14	user_no_ata	-	W	User NO token account
15	yes_mint	-	W	YES mint PDA
16	no_mint	-	W	NO mint PDA
17	trader_ledger	-	W	Market-owned trader ledger PDA

Arguments#

Field	Type	Description
side	u8	0=BuyYes, 1=SellYes, 2=BuyNo, 3=SellNo
price_bps	u16	Limit price [1, 9999]
quantity	u64	Share quantity
order_type	u8	0=Limit, 1=PostOnly, 2=IOC
worst_acceptable_price_bps	u16	IOC-only bound; `0` on canonical Bid or `10000` on canonical Ask disables it; ignored for Limit/PostOnly
min_fill_quantity	u64	IOC-only atomic minimum matched quantity; `0` disables; ignored for Limit/PostOnly
match_limit	u8	Wire domain `0..=12`; `0` uses the protocol default; counts maker iterations including evictions and self-trade hits
self_trade_behavior	u8	`0=Abort`, `1=CancelProvide`, `2=DecrementTake`
max_age_seconds	u32	TTL for this order's resting remainder; zero selects market close, nonzero is capped at that close
reject_post_only_would_cross	u8	PostOnly: `1` rejects with WouldCross; `0` slides one tick beyond the crossing maker, rejecting if no valid price remains
protocol_treasury_index	u8	Preference in `[0,8)`; the supplied config-approved recipient determines the effective index; unregistered recipient rejects

Compute Units#

~15,000 - 50,000 CU (depends on matching)

cancel_order#

Remove an open order.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	orderbook	-	W	Orderbook PDA
2	user_position	-	W	User position PDA
3	user_token_account	-	W	User settlement-token account
4	vault	-	W	Market vault
5	user	S	-	Order owner
6	token_program	-	-	SPL Token Program
7	settlement_mint	-	-	Settlement mint
8	yes_escrow	-	W	YES escrow
9	no_escrow	-	W	NO escrow
10	user_yes_ata	-	W	User YES token account
11	user_no_ata	-	W	User NO token account
12	yes_mint	-	W	YES mint
13	no_mint	-	W	NO mint
14	trader_ledger	-	W	Trader-ledger PDA

Fifteen base accounts plus the required recorder pair: 17 total.

Arguments#

Field	Type	Description
order_id	u64	Order to cancel

Compute Units#

~8,000 CU

resolve_market#

Determine outcome from snapshots.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	asset_state	-	W	Asset-state PDA bound to the market feed
2	caller	S	W	Permissionless caller; receives closer reward
3	config	-	-	Protocol config
4	vault	-	W	Market vault
5	creator_token_account	-	W	Creator fee destination
6	settlement_mint	-	-	Settlement mint
7	token_program	-	-	SPL Token Program

Eight base accounts plus the required recorder pair: 10 total.

Arguments#

None.

Compute Units#

~6,000 CU

Resolution Logic#

if end_price >= start_price:

outcome = UP (1)

else:

outcome = DOWN (2)

mint_shares (0x07)#

Deposit USDT to receive equal YES + NO tokens.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	yes_mint	-	W	YES mint
2	no_mint	-	W	NO mint
3	user_yes_ata	-	W	User YES token account
4	user_no_ata	-	W	User NO token account
5	user_stablecoin_ata	-	W	User settlement-token account
6	vault	-	W	Market vault
7	user	S	-	User
8	config	-	-	Protocol config
9	token_program	-	-	SPL Token Program
10	settlement_mint	-	-	Settlement mint

Eleven base accounts plus the required recorder pair: 13 total.

Arguments#

Field	Type	Description
amount	u64	Amount of USDT to deposit

Compute Units#

~15,000 CU

redeem (0x1A)#

Burn winning tokens for USDT after resolution.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	yes_mint	-	W	YES mint
2	no_mint	-	W	NO mint
3	user_yes_ata	-	W	User YES token account
4	user_no_ata	-	W	User NO token account
5	user_stablecoin_ata	-	W	User settlement-token account
6	vault	-	W	Market vault
7	user	S	-	User
8	token_program	-	-	SPL Token Program
9	settlement_mint	-	-	Settlement mint

Arguments#

Field	Type	Description
amount	u64	Amount of tokens to redeem
token_type	u8	Which token to redeem (0=Yes, 1=No)

Compute Units#

~15,000 CU

Payout Calculation#

if outcome == UP: burn YES tokens → receive USDT 1:1

if outcome == DOWN: burn NO tokens → receive USDT 1:1

if outcome == EXPIRED: burn either → receive USDT at 50%

withdraw_shares (0x0A)#

Convert trader-ledger free YES/NO share credits to SPL tokens.

Compute Units#

~10,000 CU

force_close (0x1B)#

Force-close position in expired/unresolved market. Returns full collateral.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	position	-	W	User position PDA
2	vault	-	W	Market vault
3	user_stablecoin_ata	-	W	User's USDT account
4	caller	S	-	Caller (permissionless)
5	config	-	-	Protocol config
6	token_program	-	-	SPL Token Program
7	settlement_mint	-	-	Settlement token mint

Prerequisites#

code

current_time >= t_end + expiration_window AND outcome == 0

Compute Units#

~12,000 CU

close_market (0x1E)#

Close resolved market after 7-day timeout. Transfers rent to creator.

Accounts#

#	Account	Signer	Writable	Description
0	market	-	W	Market PDA
1	creator	-	W	Market creator (rent target)
2	caller	S	-	Caller (permissionless)
3	config	-	-	Protocol config
4	system_program	-	-	System Program
5	vault	-	W	Market settlement vault
6	token_program	-	-	SPL Token Program
7	orderbook	-	W	Market orderbook PDA
8	yes_escrow	-	W	YES escrow PDA
9	no_escrow	-	W	NO escrow PDA
10	trader_ledger	-	W	Dynamic ledger PDA
11	creator_stablecoin_ata	-	W	Creator settlement ATA

Prerequisites#

code

current_time >= resolved_at + 604800 AND outcome != 0

Compute Units#

~8,000 CU

State Transitions#

Error Codes#

Code	Name	Category	Description
0x1001	`MarketExists`	Market	Market already exists
0x1002	`InvalidState`	Market	Wrong market state for the operation
0x1005	`AlreadyResolved`	Market	Market already resolved
0x1011	`InvalidStateTransition`	Market	Illegal lifecycle transition
0x2001	`OracleMismatch`	Oracle	Oracle account does not match market
0x2002	`StaleOracle`	Oracle	Oracle price too old
0x2003	`InvalidPrice`	Oracle	Non-positive / invalid oracle price
0x2005	`FeedIdMismatch`	Oracle	Pyth feed id mismatch
0x3001	`InvalidQuantity`	Order	Order quantity out of range
0x3004	`WouldCross`	Order	Post-only order would cross the book
0x3007	`SlippageExceeded`	Order	Fill price worse than slippage guard
0x4001	`MathOverflow`	Math	Checked arithmetic overflowed
0x5003	`InvalidPDA`	Account	PDA derivation mismatch
0x5005	`InsolvencyDetected`	Account	Solvency invariant would break
0x6001	`ProtocolPaused`	Position	Protocol is paused
0x7004	`SolvencyViolation`	Token	Token operation breaks solvency
0x8002	`InvalidFeeSplit`	Fee	Fee split does not sum to 10,000
0x9001	`NoPendingAuthority`	Authority	No pending authority to claim

Category ranges: Market 0x1001+, Oracle 0x2001+, Order 0x3001+, Math 0x4001, Account 0x5001+, Position 0x6001, Token 0x7001+, Fee/Treasury 0x8001+, Authority 0x9001+.

claim_creator_fees (0x23)#

Sweep deferred creator fees from the market vault to the creator's token account. Permissionless — anyone may call it, but fees are always sent to market.creator.

Accounts#

#	Account	Signer	Writable	Description
0	`market`	-	W	Market PDA
1	`vault`	-	W	Market vault (SPL Token, holds accumulated fees)
2	`creator_token_account`	-	W	Creator's token account for `market.settlement_mint`
3	`settlement_mint`	-	-	Settlement mint (TransferChecked)
4	`caller`	S	-	Permissionless caller (signer)
5	`token_program`	-	-	SPL Token Program

Arguments#

None.

Prerequisites#

code

market.outcome != 0 (resolved or expired)
market.accumulated_creator_fees > 0
creator_token_account.owner == market.creator
creator_token_account.mint == market.settlement_mint

Compute Units#

~10,000 CU

Side Effects#

Transfers accumulated_creator_fees USDT from vault to creator's token account via TransferChecked.
Zeroes market.accumulated_creator_fees.
Emits CreatorFeesClaimed event.

update_fee_config (0x1F)#

Admin-only. Retunes the capped-linear-decay curve, four-way allocation and maker resting-age gate atomically. Instruction argument names below differ from the stored config fields.

Accounts#

#	Account	Signer	Writable	Description
0	config	-	W	Config PDA
1	authority	S	-	Protocol authority

Arguments#

Field	Type	Description
fee_cap_bps	u16	New curve ceiling in bps of notional
decay_rate_bps	u16	New curve slope in bps of notional
protocol_share_bps	u16	Protocol share (bps of total fee)
creator_share_bps	u16	Creator share (bps of total fee)
referral_share_bps	u16	Referral share (bps of total fee)
maker_rebate_share_bps	u16	Eligible maker share (bps of total fee)
maker_rebate_min_rest_seconds	u32	Minimum age for rebate eligibility

Constraints:

protocol_share_bps + creator_share_bps + referral_share_bps + maker_rebate_share_bps == 10_000
fee_cap_bps <= 500 (hard ceiling of 5.00%)

Compute Units#

~3,500 CU

set_referrer (0x21)#

Permissionless. Binds a ReferralAccount PDA to a user, recording the referrer and the attribution timestamp. First-touch and immutable; an existing referral account cannot be overwritten.

Accounts#

#	Account	Signer	Writable	Description
0	referral_account	-	W	`ReferralAccount` PDA (user-scoped, to create)
1	user	S	W	User being attributed (pays rent)
2	referrer	-	-	Referrer wallet
3	referrer_earnings_account	-	-	Existing `ReferrerEarningsAccount` PDA for `referrer`
4	system_program	-	-	System Program

Arguments#

None (referrer is read from accounts[2]).

Prerequisites#

code

referral_account does not yet exist
referrer != user (self-referral rejected)
referrer_earnings_account.referrer == referrer

Compute Units#

~5,000 CU

Side Effects#

Writes ReferralAccount { referee: user, referrer, created_at: now, expires_at: now + REFERRAL_DURATION_SECONDS, ... } to PDA.
Emits ReferrerSet event.

init_referrer_earnings_account (0x22)#

Accounts#

#	Account	Signer	Writable	Description
0	referrer_earnings_account	-	W	Earnings PDA to create
1	referrer	S	W	Referrer and rent payer
2	treasury_shard	-	-	Preprovisioned canonical shard for treasury_index
3	settlement_mint	-	-	Config default settlement mint
4	config	-	-	Protocol config
5	system_program	-	-	System Program

Arguments#

Field	Type	Description
treasury_index	u8	Treasury shard index `∈ [0, 8)` for this referrer's fees

Compute Units#

~5,000 CU

claim_referrer_earnings (0x24)#

Sweep accumulated referrer earnings from the sharded referrer_treasury_k PDA to the referrer's token account. Permissionless — anyone may call it, but funds always go to the referrer.

Accounts#

#	Account	Signer	Writable	Description
0	referrer_earnings_account	-	W	Referrer's `ReferrerEarningsAccount` PDA
1	referrer_treasury_k	-	W	Sharded referral escrow token account selected by the earnings account `treasury_index`
2	referrer_token_account	-	W	Referrer's token account for `settlement_mint`
3	settlement_mint	-	-	Settlement mint (TransferChecked)
4	referrer	S	-	Referrer wallet
5	token_program	-	-	SPL Token Program
6	config	-	-	Config PDA

Arguments#

None.

Prerequisites#

code

referrer_earnings_account.accumulated > 0
referrer_token_account.owner == referrer
referrer_token_account.mint == config.default_settlement_mint

Compute Units#

~10,000 CU

Side Effects#

Transfers accumulated USDT from referrer_treasury_k to referrer_token_account via TransferChecked.
Zeroes referrer_earnings_account.accumulated, bumps total_claimed, and writes last_claim_at.
Emits ReferralClaimed event.

ensure_trader_ledger_space (0x2E)#

Idempotent: a no-op once the PDA is at target_size.

Accounts#

#	Account	Signer	Writable	Description
0	trader_ledger	-	W	Trader-ledger PDA (may not yet exist)
1	market	-	-	Parent market PDA (seeds for ledger PDA)
2	payer	S	W	Rent payer (any caller)
3	system_program	-	-	System Program

Arguments#

Field	Type	Description
target_size	u32	Final byte size the ledger should reach (`56 + num_seats × 72`)

Compute Units#

~5,000 CU per call

Usage#

code

ceil(target_size / 10240) invocations required before CreateMarket.
SDKs (@seesaw/core, sdk-rust, sdk-python) bundle this prelude automatically.

update_operational_params (0x2F)#

Accounts#

#	Account	Signer	Writable	Description
0	config	-	W	Config PDA
1	authority	S	-	Protocol authority

Arguments#

Field	Type	Description
closer_reward_lamports	u64	Lifecycle reward in lamports; `0` disables the bounty
max_price_staleness_seconds	u64	Oracle freshness seconds; `0` selects protocol default
market_expiration_window_seconds	u64	Expiry delay seconds; `0` selects protocol default
min_market_duration_seconds	u64	Minimum duration seconds; `0` selects protocol default
max_market_duration_seconds	u64	Maximum duration seconds; `0` selects protocol default
max_order_size	u64	Maximum share-token base units; must be nonzero
spline_flags	u8	Bit 0 enables spline attachment
spline_min_commitment	u64	Minimum stablecoin base-unit commitment; must be nonzero
spline_mid_jump_reset_bps	u16	Material mid-price jump threshold for resetting eligibility

All fields are supplied atomically; zero does not mean “leave unchanged.”

Constraint: Rate-limited by last_operational_params_update_at; returns OperationalParamsRateLimit (0x800D) if called within the cooldown window.

Compute Units#

~3,500 CU

Reserved discriminators 0x31–0x32#

Next Steps#

PDAs — address derivation
Security — security model