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https://github.com/project-serum/permissioned-markets-quickstart

Quickstart repo for creating a permissioned market proxy on the Serum DEX
https://github.com/project-serum/permissioned-markets-quickstart

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Quickstart repo for creating a permissioned market proxy on the Serum DEX

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# Permissioned Markets



This repo demonstrates how to create "permissioned markets" on Serum via a proxy smart contract.

A permissioned market is a regular Serum market with an additional

open orders authority, which must sign every transaction to create an

open orders account.



In practice, what this means is that one can create a program that acts

as this authority *and* that marks its own PDAs as the *owner* of all

created open orders accounts, making the program the sole arbiter over

who can trade on a given market.



For example, this program forces all trades that execute on this market

to set the referral to a hardcoded address--`referral::ID`--and requires

the client to pass in an identity token, authorizing the user.



See the [code](https://github.com/project-serum/permissioned-markets-quickstart/blob/master/programs/permissioned-markets/src/lib.rs).



## Developing



This program requires building the Serum DEX from source, which is done using

git submodules.



### Install Submodules



Pull the source



```bash

git submodule init

git submodule update

```



### Install Dependencies



[Anchor](https://github.com/project-serum/anchor) is used for development, and it's

recommended workflow is used here. To get started, see the [guide](https://project-serum.github.io/anchor/getting-started/introduction.html).



To install Anchor and all local dependencies, run



```bash

yarn

```



### Build



To build, run



```bash

yarn build

```



### Test



A set of integration tests are provided. See these for an example of how to use a

permissioned market from JavaScript.



```bash

yarn test

```



### Localnet



To start a localnetwork with both the dex and proxy deployed and an orderbook

listed with posted orders, first install the "crank" cli.



```bash

cargo install --git https://github.com/project-serum/serum-dex crank --locked --tag v0.4.0

```



Then run,



```bash

yarn localnet

```



### Connect a GUI



To connect a GUI to the localnet, either run one locally or go to

dex.projectserum.com and select the *localnet* network and enter the

market address: `FcZntrVjDRPv8JnU2mHt8ejvvA1eiHqxM8d8JNEC8q9q`.



In short, go to this [link](https://dex.projectserum.com/#/market/FcZntrVjDRPv8JnU2mHt8ejvvA1eiHqxM8d8JNEC8q9q).



Don't forget to click the `+` button to "Add a custom market" so that the GUI

can recognize the market running locally.



## Extending the Proxy



To implement a custom proxy, one can implement the [MarketMiddleware](https://github.com/project-serum/permissioned-markets-quickstart/blob/master/programs/permissioned-markets/src/lib.rs#L71) trait

to intercept, modify, and perform any access control on DEX requests before

they get forwarded to the orderbook. These middleware can be mixed and

matched. Note, however, that the order of middleware matters since they can

mutate the request.



One useful pattern is to treat the request like layers of an onion, where

each middleware unwraps the request by stripping accounts and instruction

data before relaying it to the next middleware and ultimately to the

orderbook. This allows one to easily extend the behavior of a proxy by

adding a custom middleware that may process information that is unknown to

any other middleware or to the DEX.



After adding a middleware, the only additional requirement, of course, is

to make sure the client sending transactions does the same, but in reverse.

It should wrap the transaction in the opposite order. For convenience, an

identical abstraction is provided in the JavaScript [client](https://github.com/project-serum/permissioned-markets-quickstart/blob/master/tests/utils/market-proxy.js#L15).



## Alternatives to Middleware



Note that this middleware abstraction is not required to host a

permissioned market. One could write a regular program that manages the PDAs

and CPI invocations oneself.