Venue profile: OpenBook (openbook), v0

OpenBook v2 is a permissionless central limit order book on Solana, program opnb2LAfJYbRMAHHvqjCwQxanZn7ReEHp1k81EohpZb. Anyone can create a market, so a market is identified by its address, not its name.

1. Instruments

Named markets:

A market's name field is not a symbol: two markets can share a name.

2. Account

On each market in the universe, the account is the agent authority's open orders accounts on that market: the program's OpenOrders accounts the authority owns, as its OpenOrdersIndexer lists them, together with the authority's wallet token accounts for the market's base and quote mints.

The wallet matters for trading too, not only for holding: a take-only order (place_take_order) trades straight from the wallet's token accounts, without an open orders account.

3. Measurements

For a market with base lot size BL and quote lot size QL, each open orders account's position holds:

• Base: base_free_native + asks_base_lots × BL, in base atoms.
• Quote: quote_free_native + bids_quote_lots × QL + locked_maker_fees, in quote atoms.

From them:

• Position. The base held in the wallet, plus the base of every open orders account in the account, in base units. For SOL, the wallet's holding is its wrapped SOL token account; native SOL is not counted, since the authority spends it on transaction fees.
• Fills. Every match makes a FillEvent, with the taker's side (taker_side), the maker's order price (price, in price lots) and the quantity (quantity, in base lots). maker is the maker's open orders account; taker is the taker's open orders account, or the signer for a take-only order. The taker's side settles in the same instruction, which logs a TotalOrderFillEvent for the whole order. The maker's side settles either in the same instruction too, when the taker's transaction passes the maker's open orders account, or later, when consume_events processes the event from the market's event heap (anyone may call it, unless the market names a consume_events_admin); either way the program then logs a FillLog for that fill. Until then the maker's position lags its fills. An enforcer MUST count every fill: the FillLogs in the term's transactions, and the FillEvents still waiting in the event heap. It MUST NOT infer fills from the position.
• Open orders. An order resting in the market's book for one of the account's open orders accounts. A side with any bids_base_lots or asks_base_lots has an open order.
• Value. Base and quote holdings, wallet and open orders accounts together, with the base at the Pyth price feed this profile names for it (a market's own oracle settings are optional, and not used here; for SOL, the SOL/USD feed ef0d8b6fda2ceba41da15d4095d1da392a0d2f8ed0c6c7bc0f4cfac8c280b56d) and USDC at $1. Unsettled maker fills count once consumed.

4. The benchmark's enforcer

No benchmark task enforces this profile yet. The first is planned to be a treasury sale of SOL on OpenBook and Phoenix, under a sell-only mandate with a price floor.