createMarketOfferInstruction

Builds a raw instruction to execute a market order that fills against existing limit orders on the orderbook, allowing users to instantly buy or sell YT tokens at the best available prices.

Usage

import { createMarketOfferInstruction } from "@exponent-labs/exponent-sdk/client/orderbook";
import { PublicKey } from "@solana/web3.js";

const ix = createMarketOfferInstruction(
  {
    trader: wallet.publicKey,
    orderbook: orderbookAddress,
    vault: vaultAddress,
    cpiAccountOrderbook: cpiAccountsOrderbook,
    yieldPosition: yieldPositionAddress,
    tokenEscrowYt: orderbookYtEscrow,
    tokenEscrowSy: orderbookSyEscrow,
    tokenEscrowPt: orderbookPtEscrow,
    tokenSyTrader: userSyTokenAccount,
    tokenYtTrader: userYtTokenAccount,
    tokenPtTrader: userPtTokenAccount,
    systemProgram: SYSTEM_PROGRAM_ID,
    syProgram: syProgramId,
    tokenProgram: TOKEN_2022_PROGRAM_ID,
    exponentCore: EXPONENT_CORE_PROGRAM_ID,
    addressLookupTable: vaultLookupTable,
    eventAuthority: eventAuthorityPda,
    program: EXPONENT_ORDERBOOK_PROGRAM_ID,
  },
  {
    maxPriceApy: 7.5,
    amount: BigInt(1_000_000),
    minAmountOut: BigInt(900_000),
    offerType: { buyYt: {} },
    virtualOffer: false,
  }
);

Accounts

Name	Type	Signer	Writable	Description
`trader`	`PublicKey`	Yes	No	The user executing the market order
`orderbook`	`PublicKey`	No	Yes	Orderbook account
`vault`	`PublicKey`	No	Yes	Vault account
`cpiAccountOrderbook`	`PublicKey`	No	No	CPI accounts orderbook
`yieldPosition`	`PublicKey`	No	Yes	Vault robot yield position
`tokenEscrowYt`	`PublicKey`	No	Yes	Orderbook YT escrow account
`tokenEscrowSy`	`PublicKey`	No	Yes	Orderbook SY escrow account
`tokenEscrowPt`	`PublicKey`	No	Yes	Orderbook PT escrow account
`tokenSyTrader`	`PublicKey`	No	Yes	Trader SY token account
`tokenYtTrader`	`PublicKey`	No	Yes	Trader YT token account
`tokenPtTrader`	`PublicKey`	No	Yes	Trader PT token account
`systemProgram`	`PublicKey`	No	No	System program
`syProgram`	`PublicKey`	No	No	SY program
`tokenProgram`	`PublicKey`	No	No	SPL Token 2022 program
`exponentCore`	`PublicKey`	No	No	Exponent Core program
`addressLookupTable`	`PublicKey`	No	No	Vault address lookup table
`eventAuthority`	`PublicKey`	No	No	Event authority PDA
`program`	`PublicKey`	No	No	Exponent Orderbook program

Args

Name	Type	Description
`maxPriceApy`	`number`	Maximum price in implied APY (f64)
`amount`	`bigint`	Amount of tokens to trade (in base units)
`minAmountOut`	`bigint`	Minimum amount of tokens to receive (slippage protection)
`offerType`	`OfferType`	Type of offer: `{ sellYt: {} }` or `{ buyYt: {} }`
`virtualOffer`	`boolean`	Whether this is a virtual offer

Returns

TransactionInstruction — a transaction instruction ready to be added to a transaction.