OpenBook Market Creation

Create and configure markets on OpenBook DEX

Create new trading markets on OpenBook DEX with customizable parameters for lot size and tick size. Supports integration with Raydium AMM v4.

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const signatures = await agent.methods.openbookCreateMarket(
  new PublicKey("base-token-mint"),   // Base token
  new PublicKey("quote-token-mint"),  // Quote token
  1,                                  // Lot size
  0.01                               // Tick size
);

Parameter	Type	Required	Default	Description
baseMint	PublicKey	Yes	-	Base token mint address
quoteMint	PublicKey	Yes	-	Quote token mint address
lotSize	number	No	1	Minimum order size
tickSize	number	No	0.01	Minimum price increment

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"Create a new USDC/SOL market on OpenBook"

"Setup trading pair for my token with 0.1 tick size"

"Create market with custom lot size of 100"

"Initialize OpenBook DEX market for token pair"

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// Basic market creation
{
  "baseMint": "EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v",
  "quoteMint": "So11111111111111111111111111111111111111112"
}

// Custom configuration
{
  "baseMint": "EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v",
  "quoteMint": "So11111111111111111111111111111111111111112",
  "lotSize": 100,
  "tickSize": 0.1
}

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import { PingAgentKit } from "ping-agent-kit";
import { PublicKey } from "@ping/web3.js";

async function createTradingMarket(agent: PingAgentKit) {
  try {
    // Create USDC/SOL market
    const signatures = await agent.methods.openbookCreateMarket(
      new PublicKey("EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v"), // USDC
      new PublicKey("So11111111111111111111111111111111111111112"), // SOL
      1,    // 1 unit minimum order
      0.01  // $0.01 minimum price increment
    );
    
    console.log("Market created:", signatures);
    return signatures;
  } catch (error) {
    console.error("Market creation failed:", error);
    throw error;
  }
}

• Determines minimum order size

• Must be positive number

• Affects order book granularity

• Consider token decimals

• Sets price increment

• Must be positive number

• Affects price precision

• Balance precision vs liquidity

• Uses Raydium SDK for market creation

• Supports standard SPL tokens

• Sequential transaction execution

• Multiple signature requirements

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try {
  const signatures = await agent.methods.openbookCreateMarket(...);
} catch (error) {
  if (error.message.includes("TOKEN_PROGRAM_ID")) {
    // Handle token program mismatch
  } else if (error.message.includes("decimals")) {
    // Handle decimal configuration issues
  }
}

1. Market Configuration

   • Choose appropriate lot sizes

   • Set reasonable tick sizes

   • Consider token decimals

   • Plan for volume

2. Token Compatibility

   • Verify token programs

   • Check token standards

   • Validate decimals

   • Test with small amounts

3. Transaction Management

   • Handle multiple signatures

   • Monitor confirmations

   • Implement retries

   • Log market details

4. Integration

   • Plan Raydium integration

   • Consider AMM v4 usage

   • Test order flow

   • Monitor market health

Common Issues

1. Token Program

   • Incompatible token standards

   • Wrong program IDs

   • Missing approvals

   • Invalid mints

2. Configuration

   • Invalid lot sizes

   • Inappropriate tick sizes

   • Decimal mismatches

   • Parameter conflicts

3. Transaction

   • Signature failures

   • RPC timeouts

   • Network congestion

   • Balance issues

• USDC: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v

• SOL: So11111111111111111111111111111111111111112

• USDT: Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB

• RAY: 4k3Dyjzvzp8eMZWUXbBCjEvwSkkk59S5iCNLY3QrkX6R

• raydiumCreateAmmV4: Create AMM with market

• getBalance: Check token balances

• trade: Execute trades

• createTokenAccount: Setup accounts

When creating markets for Raydium AMM v4:

1. Create OpenBook market first

2. Use market ID for AMM creation

3. Ensure token program compatibility

4. Consider fee configurations