Initialize Public Pool

This instruction creates a unified public liquidity pool along with all required auxiliary state accounts.

It must be executed before:

• Adding liquidity
• Matching orders against the pool
• Executing liquidations involving the pool
• Recording maker deals

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Instruction Overview

Discriminator: 19
Instruction: InitializePublicPool

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PDA Structure

The pool system consists of 1 main PDA + 7 auxiliary PDAs.

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0️⃣ PoolList PDA

Stores all initialized settlement-token pools.

["pool_list"]

function findPoolListAddress(
  programId: PublicKey
): [PublicKey, number] {
  return PublicKey.findProgramAddressSync(
    [Buffer.from('pool_list')],
    programId
  );
}

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1️⃣ Pool PDA

["pool", token_mint]

function findPoolAddress(
  programId: PublicKey,
  tokenMint: PublicKey,
): [PublicKey, number] {
  return PublicKey.findProgramAddressSync(
    [
      Buffer.from('pool'),
      tokenMint.toBuffer()
    ],
    programId
  );
}

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2️⃣ Auxiliary PDAs

Each auxiliary account is derived from the pool PDA.

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Makers

["makers", pool_pda]

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Liquidity Markets

["liquidity_markets", pool_pda]

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Match IDs

["match_ids", pool_pda]

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User Deals

["user_deals", pool_pda]

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Positions

["position", pool_pda]

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Share Holders

["share_holders", pool_pda]

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Keepers

["keepers", pool_pda]

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Required Accounts (Strict Order)

Index	Account	Signer	Writable
0	Authority (payer)	✅	✅
1	PoolList PDA	❌	✅
2	Pool PDA	❌	✅
3	Makers PDA	❌	✅
4	LiquidityMarkets PDA	❌	✅
5	MatchIds PDA	❌	✅
6	ShareHolders PDA	❌	✅
7	UserDeals PDA	❌	✅
8	Positions PDA	❌	✅
9	Keepers PDA	❌	✅
10	Token Mint	❌	❌
11	Risk Fund	❌	❌
12	Program ID	❌	❌
13	Program ID	❌	❌
14	Program ID	❌	❌
15	System Program	❌	❌
16	Rent Sysvar	❌	❌

⚠️ Account ordering must match exactly.

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Instruction Data Layout

u8      discriminator (19)
Pubkey  risk_fund
u8      token_decimals

---

TypeScript Instruction Builder

function createInitializePublicPoolInstruction(
  programId: PublicKey,
  authority: PublicKey,
  poolListPda: PublicKey,
  poolPda: PublicKey,
  poolPdas: PoolPDAs,
  tokenMint: PublicKey,
  riskFund: PublicKey,
  tokenDecimals: number
): TransactionInstruction {

  const data = Buffer.concat([
    Buffer.from([19]),
    riskFund.toBuffer(),
    Buffer.from([tokenDecimals]),
  ]);

  return new TransactionInstruction({
    keys: [
      { pubkey: authority, isSigner: true, isWritable: true },
      { pubkey: poolListPda, isSigner: false, isWritable: true },
      { pubkey: poolPda, isSigner: false, isWritable: true },
      { pubkey: poolPdas.makers, isSigner: false, isWritable: true },
      { pubkey: poolPdas.liquidityMarkets, isSigner: false, isWritable: true },
      { pubkey: poolPdas.matchIds, isSigner: false, isWritable: true },
      { pubkey: poolPdas.shareHolders, isSigner: false, isWritable: true },
      { pubkey: poolPdas.userDeals, isSigner: false, isWritable: true },
      { pubkey: poolPdas.positions, isSigner: false, isWritable: true },
      { pubkey: poolPdas.keepers, isSigner: false, isWritable: true },
      { pubkey: tokenMint, isSigner: false, isWritable: false },
      { pubkey: riskFund, isSigner: false, isWritable: false },
      { pubkey: programId, isSigner: false, isWritable: false },
      { pubkey: programId, isSigner: false, isWritable: false },
      { pubkey: programId, isSigner: false, isWritable: false },
      { pubkey: SystemProgram.programId, isSigner: false, isWritable: false },
      { pubkey: SYSVAR_RENT_PUBKEY, isSigner: false, isWritable: false },
    ],
    programId,
    data,
  });
}

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Execution Flow

1. Derive pool PDA
2. Derive 7 auxiliary PDAs
3. Check if pool already exists
4. Build instruction
5. Send transaction
6. Verify all 8 accounts were created

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What Gets Created

After successful execution:

• Pool account
• Makers account
• LiquidityMarkets account
• MatchIds account
• UserDeals account
• Positions account
• ShareHolders account
• Keepers account

All accounts are program-owned and rent-exempt.

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Result

A fully initialized public liquidity pool ready for:

• Liquidity provisioning
• Order matching
• Position management
• Liquidation handling