Policy Builders - Exponent Docs

Policy builders are helper functions that construct PolicyConfig objects for common strategy execution scenarios. A policy must exist onchain before any strategy instruction can be executed by the vault.

What is a Policy?

A programInteraction policy defines exactly which instructions the vault’s smart account is permitted to execute. It is enforced onchain by the Squads program when executeTransactionSync is called. A policy consists of:

instructionsConstraints — a list of InstructionConstraint objects, each specifying:
- programId — which program is allowed
- dataConstraints — which instruction discriminators match (first 8 bytes of instruction data)
- accountConstraints — which specific public keys must be present

Adding a Policy to a Vault

Policies are added by the vault manager role:

import {
  ExponentVault,
  createKaminoDepositPolicy,
  KAMINO_MARKETS,
  KAMINO_RESERVES,
  KaminoMarket,
} from "@exponent-labs/exponent-sdk";
import { Connection, Transaction, sendAndConfirmTransaction } from "@solana/web3.js";

const connection = new Connection("https://api.mainnet-beta.solana.com");
const vault = await ExponentVault.load({ connection, address: vaultAddress });

const solReserve = KAMINO_RESERVES[KaminoMarket.MAIN]["SOL"].pubkey;
const mainMarket = KAMINO_MARKETS[KaminoMarket.MAIN];

// Build the policy config
const policyConfig = createKaminoDepositPolicy({
  allowedReserves: [solReserve],
  allowedLendingMarkets: [mainMarket],
});

// Add it to the vault — requires payer, squads program, policy seed, and transaction index
const ix = vault.ixAddPolicy({
  payer: managerWallet.publicKey,
  policyConfig,
  squadsProgram: squadsProgram,
  nextPolicySeed: nextPolicySeed,
  nextTransactionIndex: nextTransactionIndex,
});
const tx = new Transaction().add(ix);
await sendAndConfirmTransaction(connection, tx, [managerWallet]);

Exponent Core Policy

createCorePolicy builds a policy that permits strip and merge operations on the Exponent Core program (ExponentnaRg3CQbW6dqQNZKXp7gtZ9DGMp1cwC4HAS7).

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

const EXPONENT_VAULT = new PublicKey("...");

const policyConfig = createCorePolicy({
  allowedVaults: [EXPONENT_VAULT],
  actions: ["strip", "merge"],
});

Parameters

Parameter	Type	Description
`allowedVaults`	`PublicKey[]`	Optional. Exponent Core vault addresses to constrain
`allowedSyMints`	`PublicKey[]`	Optional. SY mint public keys — use with `vaultsForSyMints`
`vaultsForSyMints`	`PublicKey[]`	Optional. Vault addresses corresponding to each SY mint (same order as `allowedSyMints`)
`actions`	`CorePolicyAction[]`	Which actions to allow: `"initializeYieldPosition"`, `"strip"`, `"merge"`
`spendingLimits`	`SpendingLimit[]`	Optional. Spending limits
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

You can constrain by vault address directly (allowedVaults) or by SY mint (allowedSyMints + vaultsForSyMints). If you omit both, any vault is allowed for the specified actions.

See Core Instructions for usage examples.

Exponent CLMM Policy

createClmmPolicy builds a policy that permits all CLMM operations on the Exponent CLMM program (XPC1MM4dYACDfykNuXYZ5una2DsMDWL24CrYubCvarC) — including providing liquidity, trading PT/YT, and claiming farm emissions.

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

const CLMM_MARKET = new PublicKey("...");

const policyConfig = createClmmPolicy({
  allowedMarkets: [CLMM_MARKET],
});

Parameters

Parameter	Type	Description
`allowedMarkets`	`PublicKey[]`	Optional. CLMM MarketThree addresses to constrain — omit to allow any market
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

Omitting allowedMarkets permits CLMM operations on any market. Specify market addresses to restrict the vault to specific pools.

See CLMM Instructions for usage examples.

AMM Swap Policies

createMarketTwoTradePtPolicy, createMarketTwoBuyYtPolicy, and createMarketTwoSellYtPolicy build policies that authorize the corresponding swap operations on Market Two AMM markets through the exponent_core program. All three accept the same parameters; choose the builder that matches the swap direction the vault should be allowed to execute.

import {
  createMarketTwoTradePtPolicy,
  createMarketTwoBuyYtPolicy,
  createMarketTwoSellYtPolicy,
} from "@exponent-labs/exponent-sdk";
import { PublicKey } from "@solana/web3.js";

const SY_MINT = new PublicKey("...");

const tradePtPolicy = createMarketTwoTradePtPolicy({ allowedSyMints: [SY_MINT] });
const buyYtPolicy   = createMarketTwoBuyYtPolicy({ allowedSyMints: [SY_MINT] });
const sellYtPolicy  = createMarketTwoSellYtPolicy({ allowedSyMints: [SY_MINT] });

Parameters

Parameter	Type	Description
`allowedMarkets`	`PublicKey[]`	Optional. Market Two PDAs to constrain — omit to allow any matching market
`allowedSyMints`	`PublicKey[]`	Optional. Whitelist by underlying SY mint — every Market Two whose `mint_sy` matches is permitted

Pass allowedSyMints to authorize any Market Two whose underlying SY mint matches; pass allowedMarkets to pin specific market PDAs; pass both to combine the two constraints.

See Exponent Core Instructions for usage examples.

Exponent Orderbook Policy

createOrderbookPolicy builds a policy that permits interacting with the Exponent Orderbook program (XPBookgQTN2p8Yw1C2La35XkPMmZTCEYH77AdReVvK1).

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

const SY_MINT = new PublicKey("...");

const policyConfig = createOrderbookPolicy({
  allowedSyMints: [SY_MINT],
  actions: ["postOffer", "marketOffer", "removeOffer", "withdrawFunds"],
});

Parameters

Parameter	Type	Description
`allowedSyMints`	`PublicKey[]`	SY mint public keys that are allowed
`actions`	`OrderbookPolicyAction[]`	Which actions to allow: `"postOffer"`, `"marketOffer"`, `"removeOffer"`, `"withdrawFunds"`
`spendingLimits`	`SpendingLimit[]`	Optional. Spending limits
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

See Orderbook Instructions for usage examples.

Kamino Lend Policies

Deposit Policy

createKaminoDepositPolicy builds a policy that permits calling depositReserveLiquidityAndObligationCollateral on the Kamino Lending program.

import { createKaminoDepositPolicy } from "@exponent-labs/exponent-sdk";

const policyConfig = createKaminoDepositPolicy({
  allowedReserves: [solReserve],
  allowedLendingMarkets: [mainMarket],
});

Parameters

Parameter	Type	Description
`allowedReserves`	`PublicKey[]`	Reserve public keys that can receive deposits
`allowedLendingMarkets`	`PublicKey[]`	Optional. Lending market public keys

Withdraw Policy

createKaminoWithdrawPolicy builds a policy that permits calling withdrawObligationCollateralAndRedeemReserveCollateral on the Kamino Lending program.

import { createKaminoWithdrawPolicy } from "@exponent-labs/exponent-sdk";

const policyConfig = createKaminoWithdrawPolicy({
  allowedReserves: [solReserve],
  allowedLendingMarkets: [mainMarket],
});

Parameters

Parameter	Type	Description
`allowedReserves`	`PublicKey[]`	Reserve public keys allowed as withdrawal sources
`allowedLendingMarkets`	`PublicKey[]`	Optional. Lending market public keys

Borrow Policy

createKaminoBorrowPolicy builds a policy that permits calling borrowObligationLiquidity on the Kamino Lending program.

import { createKaminoBorrowPolicy } from "@exponent-labs/exponent-sdk";

const policyConfig = createKaminoBorrowPolicy({
  allowedReserves: [solReserve],
  allowedLendingMarkets: [mainMarket],
});

Parameters

Parameter	Type	Description
`allowedReserves`	`PublicKey[]`	Reserve public keys allowed for borrowing
`allowedLendingMarkets`	`PublicKey[]`	Optional. Lending market public keys

Repay Policy

createKaminoRepayPolicy builds a policy that permits calling repayObligationLiquidity on the Kamino Lending program.

import { createKaminoRepayPolicy } from "@exponent-labs/exponent-sdk";

const policyConfig = createKaminoRepayPolicy({
  allowedReserves: [solReserve],
  allowedLendingMarkets: [mainMarket],
});

Parameters

Parameter	Type	Description
`allowedReserves`	`PublicKey[]`	Reserve public keys allowed for repayment
`allowedLendingMarkets`	`PublicKey[]`	Optional. Lending market public keys

Full Access Policy

createKaminoFullAccessPolicy creates a single policy covering multiple Kamino actions. This is useful when a strategy requires deposit, withdraw, borrow, and repay on the same reserves.

import {
  createKaminoFullAccessPolicy,
  KAMINO_MARKETS,
  KAMINO_RESERVES,
  KaminoMarket,
} from "@exponent-labs/exponent-sdk";

const solReserve = KAMINO_RESERVES[KaminoMarket.MAIN]["SOL"].pubkey;
const usdcReserve = KAMINO_RESERVES[KaminoMarket.MAIN]["USDC"].pubkey;
const mainMarket = KAMINO_MARKETS[KaminoMarket.MAIN];

const policyConfig = createKaminoFullAccessPolicy({
  allowedReserves: [solReserve, usdcReserve],
  allowedActions: ["deposit", "withdraw", "borrow", "repay"],
  allowedLendingMarkets: [mainMarket],
});

Parameters

Parameter	Type	Description
`allowedReserves`	`PublicKey[]`	Reserve public keys allowed for all specified actions
`allowedActions`	`Array<"deposit" \| "withdraw" \| "borrow" \| "repay">`	Which Kamino actions to permit
`allowedLendingMarkets`	`PublicKey[]`	Optional. Lending market public keys

Using a combined policy simplifies vault administration when a strategy requires multiple operations on the same reserves. The allocator passes the same policyPda to all Kamino calls.

Unified Kamino Policy

createKaminoPolicy is a unified API that supports both allowedReserves and allowedDepositMints as optional constraints. This provides finer-grained control than createKaminoFullAccessPolicy — you can constrain by the liquidity mint in addition to (or instead of) the reserve address.

import {
  createKaminoPolicy,
  KAMINO_MARKETS,
  KAMINO_RESERVES,
  KaminoMarket,
} from "@exponent-labs/exponent-sdk";

const usdcMint = KAMINO_RESERVES[KaminoMarket.MAIN]["USDC"].mint;
const mainMarket = KAMINO_MARKETS[KaminoMarket.MAIN];

const policyConfig = createKaminoPolicy({
  allowedDepositMints: [usdcMint],
  actions: ["deposit", "withdraw"],
  allowedLendingMarkets: [mainMarket],
});

Parameters

Parameter	Type	Description
`allowedReserves`	`PublicKey[]`	Optional. Reserve public keys to constrain
`allowedDepositMints`	`PublicKey[]`	Optional. Liquidity mint public keys to constrain
`actions`	`KaminoPolicyAction[]`	Which actions to allow: `"deposit"`, `"withdraw"`, `"borrow"`, `"repay"`
`allowedLendingMarkets`	`PublicKey[]`	Optional. Lending market public keys
`spendingLimits`	`SpendingLimit[]`	Optional. Spending limits
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

Both allowedReserves and allowedDepositMints are optional. Omit both to allow any reserve and mint for the specified actions.

See Kamino Lend Instructions for usage examples.

Kamino Vault policy

createKaminoVaultPolicy builds a policy for direct Kamino Vault deposits and withdrawals.

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

const kaminoVault = new PublicKey("...");
const depositMint = new PublicKey("...");

const policyConfig = createKaminoVaultPolicy({
  allowedVaults: [kaminoVault],
  allowedDepositMints: [depositMint],
  actions: ["deposit", "withdraw"],
});

Parameters

Parameter	Type	Description
`allowedVaults`	`PublicKey[]`	Optional. Kamino Vault addresses to constrain
`allowedDepositMints`	`PublicKey[]`	Optional. Deposit token mints to constrain
`actions`	`KaminoVaultPolicyAction[]`	Which actions to allow: `"deposit"` or `"withdraw"`
`spendingLimits`	`SpendingLimit[]`	Optional. Spending limits
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

See Kamino Vault Instructions for usage examples.

Kamino Farm policy

createKaminoFarmPolicy builds a policy for direct and delegated Kamino Farm actions.

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

const farmState = new PublicKey("...");
const underlyingMint = new PublicKey("...");
const rewardMint = new PublicKey("...");

const policyConfig = createKaminoFarmPolicy({
  allowedFarmStates: [farmState],
  allowedUnderlyingMints: [underlyingMint],
  allowedRewardMints: [rewardMint],
  actions: [
    "initializeUser",
    "stake",
    "unstake",
    "withdrawUnstakedDeposits",
    "harvestReward",
  ],
});

Parameters

Parameter	Type	Description
`allowedFarmStates`	`PublicKey[]`	Optional. Kamino Farm state addresses to constrain
`allowedUnderlyingMints`	`PublicKey[]`	Optional. Underlying token mints to constrain for `stake`
`allowedRewardMints`	`PublicKey[]`	Optional. Reward token mints to constrain for `harvestReward`
`actions`	`KaminoFarmPolicyAction[]`	Which actions to allow: `"initializeUser"`, `"stake"`, `"unstake"`, `"withdrawUnstakedDeposits"`, or `"harvestReward"`
`spendingLimits`	`SpendingLimit[]`	Optional. Spending limits
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

See Kamino Farm Instructions for usage examples.

Jupiter Lend Earn Policy

createJupiterEarnPolicy builds a policy that authorizes a chosen subset of Jupiter Lend Earn jlToken operations on the Jupiter Lend Earn program (jup3YeL8QhtSx1e253b2FDvsMNC87fDrgQZivbrndc9).

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

const USDC_MINT = new PublicKey("...");

const policyConfig = createJupiterEarnPolicy({
  actions: ["deposit", "withdraw"],
  allowedUnderlyingMints: [USDC_MINT],
});

Parameters

Parameter	Type	Description
`actions`	`JupiterEarnPolicyAction[]`	Required. Subset of `"deposit"`, `"depositWithMinAmountOut"`, `"mint"`, `"mintWithMaxAssets"`, `"withdraw"`, `"withdrawWithMaxSharesBurn"`, `"redeem"`, `"redeemWithMinAmountOut"`
`allowedUnderlyingMints`	`PublicKey[]`	Optional. Whitelist by underlying token mint
`allowedJlTokenMints`	`PublicKey[]`	Optional. Whitelist by jlToken receipt mint
`spendingLimits`	`SpendingLimit[]`	Optional. Spending limits
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

See Jupiter Lend Earn Instructions for usage examples.

Jupiter Lend Borrow Policy

createJupiterBorrowPolicy builds a policy that authorizes a chosen subset of Jupiter Lend Borrow lifecycle and operate actions on the Jupiter Lend Borrow program (jupr81YtYssSyPt8jbnGuiWon5f6x9TcDEFxYe3Bdzi). Operate actions encode signed newCol / newDebt deltas — the policy enforces the correct signs for each named action so a borrowDebt policy cannot execute a repayDebt instruction (and vice versa).

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

const COLLATERAL_MINT = new PublicKey("...");
const DEBT_MINT = new PublicKey("...");

const policyConfig = createJupiterBorrowPolicy({
  actions: ["initPosition", "depositAndBorrow", "repayAndWithdraw"],
  allowedSupplyMints: [COLLATERAL_MINT],
  allowedBorrowMints: [DEBT_MINT],
  allowedVaultIds: [1],
});

Parameters

Parameter	Type	Description
`actions`	`JupiterBorrowPolicyAction[]`	Required. Subset of `"initPosition"`, `"depositCollateral"`, `"borrowDebt"`, `"repayDebt"`, `"withdrawCollateral"`, `"depositAndBorrow"`, `"repayAndWithdraw"`, `"depositAndRepay"`, `"withdrawAndBorrow"`
`allowedMints`	`PublicKey[]`	Optional. Mint whitelist applied to both supply and borrow when side-specific lists are not supplied
`allowedSupplyMints`	`PublicKey[]`	Optional. Whitelist for the collateral (supply) mint
`allowedBorrowMints`	`PublicKey[]`	Optional. Whitelist for the debt (borrow) mint
`allowedVaultIds`	`number[]`	Optional. Constrain `initPosition` to specific Jupiter borrow vault ids
`spendingLimits`	`SpendingLimit[]`	Optional. Spending limits
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

For callers writing custom data-constrained policies on top of Jupiter Borrow operate instructions, the SDK exports createJupiterBorrowSignedDeltaConstraints(offset, delta) — the same helper this policy builder uses to encode "increase" / "decrease" / "unchanged" constraints on signed i128 fields.

See Jupiter Lend Borrow Instructions for usage examples.

Orca Whirlpool policy

createOrcaWhirlpoolPolicy builds a policy that permits vault-managed Orca Whirlpool V2 and token-extension instructions.

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

const USDC_MINT = new PublicKey("...");
const SOL_MINT = new PublicKey("...");

const policyConfig = createOrcaWhirlpoolPolicy({
  actions: [
    "openPositionWithTokenExtensions",
    "increaseLiquidityV2",
    "increaseLiquidityByTokenAmountsV2",
    "decreaseLiquidityV2",
    "collectFeesV2",
    "collectRewardV2",
    "closePositionWithTokenExtensions",
    "swapV2",
  ],
  allowedMints: [USDC_MINT, SOL_MINT],
});

Parameters

Parameter	Type	Description
`actions`	`OrcaWhirlpoolPolicyAction[]`	Optional. Subset of `"openPositionWithTokenExtensions"`, `"increaseLiquidityV2"`, `"increaseLiquidityByTokenAmountsV2"`, `"decreaseLiquidityV2"`, `"collectFeesV2"`, `"collectRewardV2"`, `"closePositionWithTokenExtensions"`, or `"swapV2"`
`allowedMints`	`PublicKey[]`	Token mints allowed for the Whirlpool action
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)
`accountIndex`	`number`	Optional. Squads account index used by the policy

Close-position instructions are not constrained by a Whirlpool account because the Orca close instruction has no Whirlpool account. The hook requires the position to be tracked and the authority and receiver to be the Squads vault.

See Orca Whirlpool Instructions for usage examples.

Loopscale Policy

createLoopscalePolicy builds a policy that constrains lender-side strategy actions and borrower-side loan actions on the Loopscale program (1oopBoJG58DgkUVKkEzKgyG9dvRmpgeEm1AVjoHkF78).

import { createLoopscalePolicy } from "@exponent-labs/exponent-sdk";

const strategyPolicy = createLoopscalePolicy({
  actions: ["createStrategy", "depositStrategy", "withdrawStrategy", "closeStrategy", "updateStrategy"],
});

const loanPolicy = createLoopscalePolicy({
  actions: [
    "createLoan",
    "depositCollateral",
    "borrowPrincipal",
    "repayPrincipal",
    "withdrawCollateral",
    "closeLoan",
    "updateWeightMatrix",
    "refinanceLedger",
  ],
});

Parameters

Parameter	Type	Description
`actions`	`LoopscalePolicyAction[]`	Optional. Loopscale actions to allow. Omit to allow all actions
`allowedMints`	`PublicKey[]`	Optional. Mints to constrain for actions that include a mint account
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

See Loopscale Instructions for usage examples.

Titan Swap Policy

createTitanSwapPolicy builds a policy that permits calling SwapRouteV2 on the Titan program (T1TANpTeScyeqVzzgNViGDNrkQ6qHz9KrSBS4aNXvGT).

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

const USDC_MINT = new PublicKey("...");
const SOL_MINT = new PublicKey("...");

const policyConfig = createTitanSwapPolicy({
  allowedMints: [USDC_MINT, SOL_MINT],
});

Parameters

Parameter	Type	Description
`allowedMints`	`PublicKey[]`	Optional. Token mints to constrain — applies to both input and output mints
`threshold`	`number`	Optional. Number of signers required (default `1`)
`timeLock`	`number`	Optional. Time lock in seconds (default `0`)

The allowedMints constraint applies to both the input mint and the output mint of the swap. Omitting it permits swaps between any tokens.

See Titan Instructions for usage examples.

​What is a Policy?

​Adding a Policy to a Vault

​Exponent Core Policy

​Parameters

​Exponent CLMM Policy

​Parameters

​AMM Swap Policies

​Parameters

​Exponent Orderbook Policy

​Parameters

​Kamino Lend Policies

​Deposit Policy

​Parameters

​Withdraw Policy

​Parameters

​Borrow Policy

​Parameters

​Repay Policy

​Parameters

​Full Access Policy

​Parameters

​Unified Kamino Policy

​Parameters

​Kamino Vault policy

​Parameters

​Kamino Farm policy

​Parameters

​Jupiter Lend Earn Policy

​Parameters

​Jupiter Lend Borrow Policy

​Parameters

​Orca Whirlpool policy

​Parameters

​Loopscale Policy

​Parameters

​Titan Swap Policy

​Parameters

What is a Policy?

Adding a Policy to a Vault

Exponent Core Policy

Parameters

Exponent CLMM Policy

Parameters

AMM Swap Policies

Parameters

Exponent Orderbook Policy

Parameters

Kamino Lend Policies

Deposit Policy

Parameters

Withdraw Policy

Parameters

Borrow Policy

Parameters

Repay Policy

Parameters

Full Access Policy

Parameters

Unified Kamino Policy

Parameters

Kamino Vault policy

Parameters

Kamino Farm policy

Parameters

Jupiter Lend Earn Policy

Parameters

Jupiter Lend Borrow Policy

Parameters

Orca Whirlpool policy

Parameters

Loopscale Policy

Parameters

Titan Swap Policy

Parameters