diff --git a/.travis.yml b/.travis.yml
index 382da31..e0ccd85 100644
--- a/.travis.yml
+++ b/.travis.yml
@@ -36,16 +36,12 @@ jobs:
       name: Lockup tests
       <<: *localnet
       script:
-        - docker exec dev make -C lockup init-test features=strict
-
-# Disabled because these tests require the shared memory program in the validator genesis,
-# which currently requires a custom local setup.
-#
-#    - <<: *defaults
-#      name: Registry tests
-#      <<: *localnet
-#      script:
-#        - docker exec dev make -C registry init-test
+        - docker exec dev make -C lockup init-test features=strict#
+    - <<: *defaults
+      name: Registry tests
+      <<: *localnet
+      script:
+        - docker exec dev make -C registry init-test
     - <<: *defaults
       name: Fmt and Common Tests
       script:
diff --git a/registry/src/accounts/ring.rs b/common/src/accounts.rs
similarity index 73%
rename from registry/src/accounts/ring.rs
rename to common/src/accounts.rs
index 6c4d331..b9357e7 100644
--- a/registry/src/accounts/ring.rs
+++ b/common/src/accounts.rs
@@ -1,45 +1,53 @@
-// Use a macro to define the trait with a generic MESSAGE_SIZE, since
-// Rust doesn't support arrays with generic lengths.
+// Macro to generate an append only Ring buffer trait. Clients should use this
+// to create ring buffer accounts, defining a fixed ITEM_SIZE, the maximum
+// size for each entry in the ring.
 //
-// Remove macro (and just use the trait ) once the following issue is addressed:
+// Uses a macro to define the trait since  Rust doesn't (yet) support arrays
+// with generic lengths.
+//
+// Remove macro (and just use the trait) once the following issue is addressed:
 // https://github.com/rust-lang/rust/issues/43408
 #[macro_export]
 macro_rules! ring {
     ($message_size:expr) => {
-        //
+        use arrayref::array_mut_ref;
+
         const AUTHORITY_START: usize = 0;
+        // TODO: bump head + tail to be u64 instead of u32.
         const HEAD_START: usize = 32;
         const TAIL_START: usize = 36;
-        const MESSAGE_START: u32 = 40;
+        const ITEM_START: u32 = 40;
 
-        pub trait Ring<'a, T: BorshSerialize + BorshDeserialize> {
-            const MESSAGE_SIZE: u32 = $message_size;
+        pub trait Ring<'a> {
+            type Item: BorshSerialize + BorshDeserialize;
+
+            const ITEM_SIZE: u32 = $message_size;
 
             fn buffer(&self) -> Rc<RefCell<&'a mut [u8]>>;
             fn capacity(&self) -> u32;
 
             fn buffer_size(capacity: u32) -> usize {
-                (Self::MESSAGE_SIZE as usize * capacity as usize) + MESSAGE_START as usize
+                (Self::ITEM_SIZE as usize * capacity as usize) + ITEM_START as usize
             }
 
-            fn append(&self, item: &T) -> Result<(), RegistryError> {
+            fn append(&self, item: &Self::Item) -> Result<(), ProgramError> {
                 let mut data = item
                     .try_to_vec()
-                    .map_err(|_| RegistryErrorCode::WrongSerialization)?;
+                    .map_err(|_| ProgramError::InvalidAccountData)?;
 
-                if data.len() > Self::MESSAGE_SIZE as usize {
-                    return Err(RegistryErrorCode::RingInvalidMessageSize)?;
+                if data.len() > Self::ITEM_SIZE as usize {
+                    return Err(ProgramError::InvalidAccountData)?;
                 }
                 let head = self.head()?;
                 let tail = self.tail()?;
 
                 // Scope into a block so that the refcell is dropped.
                 {
-                    let head_idx = (head * Self::MESSAGE_SIZE + MESSAGE_START) as usize;
+                    let head_idx = (head * Self::ITEM_SIZE + ITEM_START) as usize;
                     let buffer = self.buffer();
                     let mut acc_data = buffer.borrow_mut();
                     let dst = array_mut_ref![acc_data, head_idx, $message_size as usize];
-                    data.resize(Self::MESSAGE_SIZE as usize, 0);
+                    data.resize(Self::ITEM_SIZE as usize, 0);
                     dst.copy_from_slice(&data);
                 }
                 // If full, then move the tail as well.
@@ -52,7 +60,7 @@ macro_rules! ring {
             }
 
             #[cfg(not(feature = "program"))]
-            fn messages_rev(&self) -> Result<Vec<T>, RegistryError> {
+            fn messages_rev(&self) -> Result<Vec<Self::Item>, ProgramError> {
                 let buffer = self.buffer();
                 let data = buffer.borrow();
                 let head = self.head()?;
@@ -72,11 +80,11 @@ macro_rules! ring {
                         last -= 1;
                     }
 
-                    let start = (last * Self::MESSAGE_SIZE + MESSAGE_START) as usize;
-                    let end = start + Self::MESSAGE_SIZE as usize;
+                    let start = (last * Self::ITEM_SIZE + ITEM_START) as usize;
+                    let end = start + Self::ITEM_SIZE as usize;
 
-                    let m = T::deserialize(&mut &data[start..end])
-                        .map_err(|_| RegistryErrorCode::WrongSerialization)?;
+                    let m = Self::Item::deserialize(&mut &data[start..end])
+                        .map_err(|_| ProgramError::InvalidAccountData)?;
                     msgs.push(m);
                 }
 
@@ -98,25 +106,25 @@ macro_rules! ring {
                 dst.copy_from_slice(authority.as_ref());
             }
 
-            fn message_at(&self, cursor: u32) -> Result<T, RegistryError> {
+            fn message_at(&self, cursor: u32) -> Result<Self::Item, ProgramError> {
                 let index = cursor % self.capacity();
                 let buffer = self.buffer();
                 let data = buffer.borrow();
-                let mut dst = vec![0u8; Self::MESSAGE_SIZE as usize];
-                let start = (MESSAGE_START + index * Self::MESSAGE_SIZE) as usize;
-                let end = start + Self::MESSAGE_SIZE as usize;
+                let mut dst = vec![0u8; Self::ITEM_SIZE as usize];
+                let start = (ITEM_START + index * Self::ITEM_SIZE) as usize;
+                let end = start + Self::ITEM_SIZE as usize;
                 dst.copy_from_slice(&data[start..end]);
-                T::deserialize(&mut dst.as_ref())
-                    .map_err(|_| RegistryErrorCode::WrongSerialization.into())
+                Self::Item::deserialize(&mut dst.as_ref())
+                    .map_err(|_| ProgramError::InvalidAccountData)
             }
 
             // Head is the next available position in the ring buffer for
             // appending.
-            fn head(&self) -> Result<u32, RegistryError> {
+            fn head(&self) -> Result<u32, ProgramError> {
                 Ok(self.head_cursor()? % self.capacity())
             }
 
-            fn head_cursor(&self) -> Result<u32, RegistryError> {
+            fn head_cursor(&self) -> Result<u32, ProgramError> {
                 let buffer = self.buffer();
                 let data = buffer.borrow();
                 let mut dst = [0u8; 4];
@@ -127,11 +135,11 @@ macro_rules! ring {
             // Tail is the first taken position in the ring buffer,
             // except when tail === head. In which case the buffer is empty.
             // When the buffer is full, tail == head + 1.
-            fn tail(&self) -> Result<u32, RegistryError> {
+            fn tail(&self) -> Result<u32, ProgramError> {
                 Ok(self.tail_cursor()? % self.capacity())
             }
 
-            fn tail_cursor(&self) -> Result<u32, RegistryError> {
+            fn tail_cursor(&self) -> Result<u32, ProgramError> {
                 let buffer = self.buffer();
                 let data = buffer.borrow();
                 let mut dst = [0u8; 4];
@@ -139,19 +147,19 @@ macro_rules! ring {
                 Ok(u32::from_le_bytes(dst))
             }
 
-            fn increment_head(&self) -> Result<(), RegistryError> {
+            fn increment_head(&self) -> Result<(), ProgramError> {
                 let head = self.head_cursor()?;
                 self.set_head(head + 1)?;
                 Ok(())
             }
 
-            fn increment_tail(&self) -> Result<(), RegistryError> {
+            fn increment_tail(&self) -> Result<(), ProgramError> {
                 let tail = self.tail_cursor()?;
                 self.set_tail(tail + 1)?;
                 Ok(())
             }
 
-            fn set_head(&self, head: u32) -> Result<(), RegistryError> {
+            fn set_head(&self, head: u32) -> Result<(), ProgramError> {
                 let buffer = self.buffer();
                 let mut data = buffer.borrow_mut();
                 let dst = array_mut_ref![data, HEAD_START, 4];
@@ -159,7 +167,7 @@ macro_rules! ring {
                 Ok(())
             }
 
-            fn set_tail(&self, tail: u32) -> Result<(), RegistryError> {
+            fn set_tail(&self, tail: u32) -> Result<(), ProgramError> {
                 let buffer = self.buffer();
                 let mut data = buffer.borrow_mut();
                 let dst = array_mut_ref![data, TAIL_START, 4];
@@ -172,13 +180,10 @@ macro_rules! ring {
 
 #[cfg(test)]
 mod tests {
-    use crate::error::{RegistryError, RegistryErrorCode};
-    use arrayref::array_mut_ref;
     use borsh::{BorshDeserialize, BorshSerialize};
     use serum_common::pack::*;
     use solana_client_gen::solana_sdk::pubkey::Pubkey;
     use std::cell::RefCell;
-    use std::convert::Into;
     use std::rc::Rc;
 
     ring!(320);
@@ -193,7 +198,9 @@ mod tests {
         }
     }
 
-    impl<'a> Ring<'a, Message> for MQueue<'a> {
+    impl<'a> Ring<'a> for MQueue<'a> {
+        type Item = Message;
+
         fn buffer(&self) -> Rc<RefCell<&'a mut [u8]>> {
             self.storage.clone()
         }
@@ -217,7 +224,7 @@ mod tests {
         let storage = Rc::new(RefCell::new(data));
         let mqueue = MQueue::from(storage);
 
-        let authority = Pubkey::new_rand();
+        let authority = Pubkey::new_unique();
         mqueue.set_authority(&authority);
         assert_eq!(authority, mqueue.authority());
 
@@ -226,7 +233,7 @@ mod tests {
         // First pass: fill the message queue.
         for k in 0u32..mqueue.capacity() - 1 {
             let m = Message {
-                from: Pubkey::new_rand(),
+                from: Pubkey::new_unique(),
                 ts: k as i64,
                 content: "hello world".to_string(),
             };
@@ -246,7 +253,7 @@ mod tests {
 
         // Insert one to begin the wrap.
         let m = Message {
-            from: Pubkey::new_rand(),
+            from: Pubkey::new_unique(),
             ts: 0,
             content: "hello world".to_string(),
         };
@@ -260,7 +267,7 @@ mod tests {
         // Do another pass, overwriting all previous messages.
         for k in 0u32..mqueue.capacity() {
             let m = Message {
-                from: Pubkey::new_rand(),
+                from: Pubkey::new_unique(),
                 ts: k as i64,
                 content: "hello world".to_string(),
             };
diff --git a/common/src/lib.rs b/common/src/lib.rs
index 2a71af0..9a6ff0c 100644
--- a/common/src/lib.rs
+++ b/common/src/lib.rs
@@ -4,6 +4,7 @@
 pub mod client;
 #[macro_use]
 pub mod pack;
+pub mod accounts;
 #[cfg(feature = "program")]
 pub mod program;
 
diff --git a/common/src/pack.rs b/common/src/pack.rs
index fc852f5..1678ff6 100644
--- a/common/src/pack.rs
+++ b/common/src/pack.rs
@@ -40,6 +40,7 @@ pub trait Pack: std::marker::Sized + std::fmt::Debug {
 
     /// Analogue to pack, performing a check on the size of the given byte
     /// array.
+    #[inline(never)]
     fn unpack(src: &[u8]) -> Result<Self, ProgramError> {
         let mut src_mut = src;
         Pack::unpack_unchecked(&mut src_mut).and_then(|r: Self| {
@@ -64,6 +65,7 @@ pub trait Pack: std::marker::Sized + std::fmt::Debug {
     }
 
     /// Unsafe unpack. Doesn't check the size of the given input array.
+    #[inline(never)]
     fn unpack_unchecked_mut<F, U>(input: &mut [u8], f: &mut F) -> Result<U, ProgramError>
     where
         F: FnMut(&mut Self) -> Result<U, ProgramError>,
diff --git a/common/tests/src/lib.rs b/common/tests/src/lib.rs
index b1a8e4d..8884404 100644
--- a/common/tests/src/lib.rs
+++ b/common/tests/src/lib.rs
@@ -23,7 +23,7 @@ pub static TEST_CLUSTER: &str = "TEST_CLUSTER";
 pub fn genesis<T: ClientGen>() -> Genesis<T> {
     let client = client::<T>();
 
-    let spl_mint_decimals = 3;
+    let spl_mint_decimals = 6;
 
     // Initialize the SPL token representing SRM.
     let mint_authority = Keypair::from_bytes(&Keypair::to_bytes(client.payer().clone())).unwrap();
diff --git a/lockup/cli/src/lib.rs b/lockup/cli/src/lib.rs
index 8bb667a..7298a14 100644
--- a/lockup/cli/src/lib.rs
+++ b/lockup/cli/src/lib.rs
@@ -1,4 +1,4 @@
-use anyhow::{anyhow, Result};
+use anyhow::Result;
 use clap::Clap;
 use serum_lockup::accounts::WhitelistEntry;
 use serum_lockup_client::*;
diff --git a/lockup/client/src/inner.rs b/lockup/client/src/inner.rs
index 8bc7598..55bb9d2 100644
--- a/lockup/client/src/inner.rs
+++ b/lockup/client/src/inner.rs
@@ -1,7 +1,7 @@
 use crate::InitializeResponse;
 use serum_common::client::rpc;
 use serum_common::pack::Pack;
-use serum_lockup::accounts::{vault, Safe, Whitelist};
+use serum_lockup::accounts::{Safe, Whitelist};
 use serum_lockup::client::{Client as InnerClient, ClientError as InnerClientError};
 use solana_client_gen::prelude::*;
 use solana_client_gen::solana_sdk;
diff --git a/lockup/client/src/lib.rs b/lockup/client/src/lib.rs
index 894983f..5caeeec 100644
--- a/lockup/client/src/lib.rs
+++ b/lockup/client/src/lib.rs
@@ -263,7 +263,6 @@ impl Client {
             stake_beneficiary,
             vesting,
             safe,
-            is_mega, // TODO: remove.
         } = req;
         let relay_data = {
             let instr = RegistryInstruction::Deposit { amount };
@@ -284,16 +283,14 @@ impl Client {
             &registry_pid,
         )
         .map_err(|_| anyhow!("unable to create vault authority"))?;
-        let whitelist_program_vault = match is_mega {
-            false => r.vault,
-            true => r.mega_vault,
-        };
+        let v = self.vesting(&vesting)?;
+        let whitelist_program_vault = r_client.vault_for(&member, &v.vault, true)?;
+
         let relay_accounts = vec![
             AccountMeta::new(member, false),
             AccountMeta::new_readonly(stake_beneficiary.pubkey(), true),
             AccountMeta::new(entity, false),
             AccountMeta::new_readonly(registrar, false),
-            AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
         ];
 
         let resp = self.whitelist_withdraw(WhitelistWithdrawRequest {
@@ -317,7 +314,6 @@ impl Client {
     ) -> Result<RegistryWithdrawResponse, ClientError> {
         let RegistryWithdrawRequest {
             amount,
-            is_mega, // TODO: remove.
             registry_pid,
             registrar,
             member,
@@ -346,16 +342,14 @@ impl Client {
             &registry_pid,
         )
         .map_err(|_| anyhow!("unable to create vault authority"))?;
-        let whitelist_program_vault = match is_mega {
-            false => r.vault,
-            true => r.mega_vault,
-        };
+        let v = self.vesting(&vesting)?;
+        let whitelist_program_vault = r_client.vault_for(&member, &v.vault, true)?;
+
         let relay_accounts = vec![
             AccountMeta::new(member, false),
             AccountMeta::new_readonly(stake_beneficiary.pubkey(), true),
             AccountMeta::new(entity, false),
             AccountMeta::new_readonly(registrar, false),
-            AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
         ];
 
         let resp = self.whitelist_deposit(WhitelistDepositRequest {
@@ -582,7 +576,6 @@ pub struct RegistryDepositRequest<'a> {
     pub safe: Pubkey,
     pub beneficiary: &'a Keypair,
     pub stake_beneficiary: &'a Keypair,
-    pub is_mega: bool,
 }
 
 pub struct RegistryDepositResponse {
@@ -591,7 +584,6 @@ pub struct RegistryDepositResponse {
 
 pub struct RegistryWithdrawRequest<'a> {
     pub amount: u64,
-    pub is_mega: bool,
     pub registry_pid: Pubkey,
     pub registrar: Pubkey,
     pub member: Pubkey,
diff --git a/lockup/program/Cargo.lock b/lockup/program/Cargo.lock
index c0a7ce8..5936cef 100644
--- a/lockup/program/Cargo.lock
+++ b/lockup/program/Cargo.lock
@@ -37,7 +37,7 @@ version = "0.2.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "hermit-abi 0.1.17 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -53,11 +53,11 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "addr2line 0.14.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "cfg-if 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "miniz_oxide 0.4.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "object 0.22.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc-demangle 0.1.18 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -76,7 +76,7 @@ version = "1.3.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "byteorder 1.3.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -123,7 +123,7 @@ version = "0.7.2"
 source = "git+https://github.com/project-serum/borsh?branch=serum#337732a185f052d5ee0424127b04b89d455ffa81"
 dependencies = [
  "borsh-derive 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
- "solana-sdk 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -133,7 +133,7 @@ source = "git+https://github.com/project-serum/borsh?branch=serum#337732a185f052
 dependencies = [
  "borsh-derive-internal 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
  "borsh-schema-derive-internal 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -143,7 +143,7 @@ source = "git+https://github.com/project-serum/borsh?branch=serum#337732a185f052
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -153,7 +153,7 @@ source = "git+https://github.com/project-serum/borsh?branch=serum#337732a185f052
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -172,7 +172,7 @@ version = "0.11.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "feature-probe 0.1.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -229,7 +229,7 @@ name = "chrono"
 version = "0.4.19"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "num-integer 0.1.44 (registry+https://github.com/rust-lang/crates.io-index)",
  "num-traits 0.2.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "time 0.1.44 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -250,7 +250,7 @@ version = "0.1.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -330,7 +330,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -354,7 +354,7 @@ name = "ed25519"
 version = "1.0.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "signature 1.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -366,7 +366,7 @@ dependencies = [
  "curve25519-dalek 2.1.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "ed25519 1.0.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand 0.7.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "zeroize 1.1.1 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -465,7 +465,7 @@ dependencies = [
  "proc-macro-hack 0.5.19 (registry+https://github.com/rust-lang/crates.io-index)",
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -511,7 +511,7 @@ name = "generic-array"
 version = "0.14.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "typenum 1.12.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "version_check 0.9.2 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -522,7 +522,7 @@ version = "0.1.15"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "wasi 0.9.0+wasi-snapshot-preview1 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -560,7 +560,7 @@ name = "hermit-abi"
 version = "0.1.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -686,7 +686,7 @@ name = "iovec"
 version = "0.1.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -712,15 +712,15 @@ name = "jobserver"
 version = "0.1.21"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "js-sys"
-version = "0.3.45"
+version = "0.3.46"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "wasm-bindgen 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -747,7 +747,7 @@ dependencies = [
 
 [[package]]
 name = "libc"
-version = "0.2.80"
+version = "0.2.81"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
@@ -801,7 +801,7 @@ name = "memmap"
 version = "0.7.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -838,7 +838,7 @@ dependencies = [
 
 [[package]]
 name = "mio"
-version = "0.6.22"
+version = "0.6.23"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -846,10 +846,10 @@ dependencies = [
  "fuchsia-zircon-sys 0.3.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
  "kernel32-sys 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "miow 0.2.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "net2 0.2.35 (registry+https://github.com/rust-lang/crates.io-index)",
+ "miow 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
+ "net2 0.2.36 (registry+https://github.com/rust-lang/crates.io-index)",
  "slab 0.4.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.2.8 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -860,28 +860,28 @@ version = "0.6.8"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "miow"
-version = "0.2.1"
+version = "0.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "kernel32-sys 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "net2 0.2.35 (registry+https://github.com/rust-lang/crates.io-index)",
+ "net2 0.2.36 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.2.8 (registry+https://github.com/rust-lang/crates.io-index)",
  "ws2_32-sys 0.2.1 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "net2"
-version = "0.2.35"
+version = "0.2.36"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -892,7 +892,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -918,7 +918,7 @@ version = "1.13.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "hermit-abi 0.1.17 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -938,7 +938,7 @@ dependencies = [
  "proc-macro-crate 0.1.5 (registry+https://github.com/rust-lang/crates.io-index)",
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -978,7 +978,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
  "cloudabi 0.0.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "redox_syscall 0.1.57 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "smallvec 0.6.13 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1022,7 +1022,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1032,7 +1032,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1116,7 +1116,7 @@ version = "0.7.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "getrandom 0.1.15 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_chacha 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_core 0.5.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_hc 0.2.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1191,7 +1191,7 @@ dependencies = [
  "hyper 0.13.9 (registry+https://github.com/rust-lang/crates.io-index)",
  "hyper-rustls 0.21.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "ipnet 2.3.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "js-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)",
+ "js-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
  "mime 0.3.16 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1199,16 +1199,16 @@ dependencies = [
  "percent-encoding 2.1.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "pin-project-lite 0.2.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustls 0.18.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_json 1.0.59 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_json 1.0.60 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_urlencoded 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio 0.2.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-rustls 0.14.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "url 2.2.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-futures 0.4.18 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-test 0.3.18 (registry+https://github.com/rust-lang/crates.io-index)",
- "web-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-futures 0.4.19 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-test 0.3.19 (registry+https://github.com/rust-lang/crates.io-index)",
+ "web-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
  "webpki-roots 0.20.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "winreg 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -1220,10 +1220,10 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cc 1.0.49 (registry+https://github.com/rust-lang/crates.io-index)",
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "spin 0.5.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "untrusted 0.7.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "web-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)",
+ "web-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1296,10 +1296,10 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
 name = "serde"
-version = "1.0.117"
+version = "1.0.118"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1307,27 +1307,27 @@ name = "serde_bytes"
 version = "0.11.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.117"
+version = "1.0.118"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "serde_json"
-version = "1.0.59"
+version = "1.0.60"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "itoa 0.4.6 (registry+https://github.com/rust-lang/crates.io-index)",
  "ryu 1.0.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1338,7 +1338,7 @@ dependencies = [
  "form_urlencoded 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "itoa 0.4.6 (registry+https://github.com/rust-lang/crates.io-index)",
  "ryu 1.0.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1347,8 +1347,8 @@ version = "0.1.0"
 dependencies = [
  "arrayref 0.3.6 (registry+https://github.com/rust-lang/crates.io-index)",
  "borsh 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1372,8 +1372,8 @@ version = "0.1.0"
 dependencies = [
  "serum-common 0.1.0",
  "serum-lockup 0.1.0",
- "solana-program 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1423,7 +1423,7 @@ version = "0.3.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "redox_syscall 0.1.57 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -1434,13 +1434,13 @@ version = "0.1.0"
 dependencies = [
  "bincode 1.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "serum-common 0.1.0",
- "solana-sdk 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-crate-features"
-version = "1.4.11"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "backtrace 0.3.55 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1450,20 +1450,20 @@ dependencies = [
  "ed25519-dalek 1.0.0-pre.4 (registry+https://github.com/rust-lang/crates.io-index)",
  "either 1.6.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_chacha 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "regex-syntax 0.6.21 (registry+https://github.com/rust-lang/crates.io-index)",
  "reqwest 0.10.9 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "syn 0.15.44 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio 0.1.22 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-frozen-abi"
-version = "1.4.11"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bs58 0.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1472,29 +1472,29 @@ dependencies = [
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
  "memmap 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-logger 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-frozen-abi-macro"
-version = "1.4.11"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-logger"
-version = "1.4.11"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "env_logger 0.7.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1504,7 +1504,7 @@ dependencies = [
 
 [[package]]
 name = "solana-program"
-version = "1.4.11"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bincode 1.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1520,20 +1520,20 @@ dependencies = [
  "rand 0.7.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-logger 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk-macro 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-sdk"
-version = "1.4.11"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "assert_matches 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1559,31 +1559,31 @@ dependencies = [
  "rand_chacha 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_json 1.0.59 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_json 1.0.60 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha3 0.9.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-crate-features 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-logger 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-program 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk-macro 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-crate-features 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-sdk-macro"
-version = "1.4.11"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bs58 0.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1601,7 +1601,7 @@ dependencies = [
  "num-traits 0.2.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "num_enum 0.5.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "remove_dir_all 0.5.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1627,7 +1627,7 @@ dependencies = [
 
 [[package]]
 name = "syn"
-version = "1.0.51"
+version = "1.0.53"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1642,7 +1642,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
  "unicode-xid 0.2.1 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1669,7 +1669,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1685,7 +1685,7 @@ name = "time"
 version = "0.1.44"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "wasi 0.10.0+wasi-snapshot-preview1 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -1710,7 +1710,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bytes 0.4.12 (registry+https://github.com/rust-lang/crates.io-index)",
  "futures 0.1.30 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "num_cpus 1.13.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-codec 0.1.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-current-thread 0.1.7 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1737,7 +1737,7 @@ dependencies = [
  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "memchr 2.3.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "num_cpus 1.13.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "pin-project-lite 0.1.11 (registry+https://github.com/rust-lang/crates.io-index)",
  "slab 0.4.2 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1800,7 +1800,7 @@ dependencies = [
  "futures 0.1.30 (registry+https://github.com/rust-lang/crates.io-index)",
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "num_cpus 1.13.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "parking_lot 0.9.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "slab 0.4.2 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1837,7 +1837,7 @@ dependencies = [
  "bytes 0.4.12 (registry+https://github.com/rust-lang/crates.io-index)",
  "futures 0.1.30 (registry+https://github.com/rust-lang/crates.io-index)",
  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-io 0.1.13 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-reactor 0.1.12 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -1877,7 +1877,7 @@ dependencies = [
  "bytes 0.4.12 (registry+https://github.com/rust-lang/crates.io-index)",
  "futures 0.1.30 (registry+https://github.com/rust-lang/crates.io-index)",
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-codec 0.1.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-io 0.1.13 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-reactor 0.1.12 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1891,9 +1891,9 @@ dependencies = [
  "bytes 0.4.12 (registry+https://github.com/rust-lang/crates.io-index)",
  "futures 0.1.30 (registry+https://github.com/rust-lang/crates.io-index)",
  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "mio-uds 0.6.8 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-codec 0.1.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-io 0.1.13 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1918,7 +1918,7 @@ name = "toml"
 version = "0.5.7"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -2040,18 +2040,18 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
 name = "wasm-bindgen"
-version = "0.2.68"
+version = "0.2.69"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_json 1.0.59 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-macro 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
+ "cfg-if 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_json 1.0.60 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-macro 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "wasm-bindgen-backend"
-version = "0.2.68"
+version = "0.2.69"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bumpalo 3.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -2059,63 +2059,63 @@ dependencies = [
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-shared 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-shared 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "wasm-bindgen-futures"
-version = "0.4.18"
+version = "0.4.19"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "js-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
- "web-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)",
+ "cfg-if 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
+ "js-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
+ "web-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "wasm-bindgen-macro"
-version = "0.2.68"
+version = "0.2.69"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-macro-support 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-macro-support 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "wasm-bindgen-macro-support"
-version = "0.2.68"
+version = "0.2.69"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-backend 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-shared 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-backend 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-shared 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "wasm-bindgen-shared"
-version = "0.2.68"
+version = "0.2.69"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
 name = "wasm-bindgen-test"
-version = "0.3.18"
+version = "0.3.19"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "console_error_panic_hook 0.1.6 (registry+https://github.com/rust-lang/crates.io-index)",
- "js-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)",
+ "js-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
  "scoped-tls 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-futures 0.4.18 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen-test-macro 0.3.18 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-futures 0.4.19 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen-test-macro 0.3.19 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "wasm-bindgen-test-macro"
-version = "0.3.18"
+version = "0.3.19"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -2124,11 +2124,11 @@ dependencies = [
 
 [[package]]
 name = "web-sys"
-version = "0.3.45"
+version = "0.3.46"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "js-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)",
- "wasm-bindgen 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)",
+ "js-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
+ "wasm-bindgen 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -2217,7 +2217,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
  "quote 1.0.7 (registry+https://github.com/rust-lang/crates.io-index)",
- "syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)",
+ "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
  "synstructure 0.12.4 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -2309,11 +2309,11 @@ dependencies = [
 "checksum itertools 0.9.0 (registry+https://github.com/rust-lang/crates.io-index)" = "284f18f85651fe11e8a991b2adb42cb078325c996ed026d994719efcfca1d54b"
 "checksum itoa 0.4.6 (registry+https://github.com/rust-lang/crates.io-index)" = "dc6f3ad7b9d11a0c00842ff8de1b60ee58661048eb8049ed33c73594f359d7e6"
 "checksum jobserver 0.1.21 (registry+https://github.com/rust-lang/crates.io-index)" = "5c71313ebb9439f74b00d9d2dcec36440beaf57a6aa0623068441dd7cd81a7f2"
-"checksum js-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)" = "ca059e81d9486668f12d455a4ea6daa600bd408134cd17e3d3fb5a32d1f016f8"
+"checksum js-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)" = "cf3d7383929f7c9c7c2d0fa596f325832df98c3704f2c60553080f7127a58175"
 "checksum keccak 0.1.0 (registry+https://github.com/rust-lang/crates.io-index)" = "67c21572b4949434e4fc1e1978b99c5f77064153c59d998bf13ecd96fb5ecba7"
 "checksum kernel32-sys 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)" = "7507624b29483431c0ba2d82aece8ca6cdba9382bff4ddd0f7490560c056098d"
 "checksum lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)" = "e2abad23fbc42b3700f2f279844dc832adb2b2eb069b2df918f455c4e18cc646"
-"checksum libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)" = "4d58d1b70b004888f764dfbf6a26a3b0342a1632d33968e4a179d8011c760614"
+"checksum libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)" = "1482821306169ec4d07f6aca392a4681f66c75c9918aa49641a2595db64053cb"
 "checksum libsecp256k1 0.3.5 (registry+https://github.com/rust-lang/crates.io-index)" = "1fc1e2c808481a63dc6da2074752fdd4336a3c8fcc68b83db6f1fd5224ae7962"
 "checksum lock_api 0.3.4 (registry+https://github.com/rust-lang/crates.io-index)" = "c4da24a77a3d8a6d4862d95f72e6fdb9c09a643ecdb402d754004a557f2bec75"
 "checksum log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "4fabed175da42fed1fa0746b0ea71f412aa9d35e76e95e59b192c64b9dc2bf8b"
@@ -2325,10 +2325,10 @@ dependencies = [
 "checksum mime 0.3.16 (registry+https://github.com/rust-lang/crates.io-index)" = "2a60c7ce501c71e03a9c9c0d35b861413ae925bd979cc7a4e30d060069aaac8d"
 "checksum mime_guess 2.0.3 (registry+https://github.com/rust-lang/crates.io-index)" = "2684d4c2e97d99848d30b324b00c8fcc7e5c897b7cbb5819b09e7c90e8baf212"
 "checksum miniz_oxide 0.4.3 (registry+https://github.com/rust-lang/crates.io-index)" = "0f2d26ec3309788e423cfbf68ad1800f061638098d76a83681af979dc4eda19d"
-"checksum mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)" = "fce347092656428bc8eaf6201042cb551b8d67855af7374542a92a0fbfcac430"
+"checksum mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)" = "4afd66f5b91bf2a3bc13fad0e21caedac168ca4c707504e75585648ae80e4cc4"
 "checksum mio-uds 0.6.8 (registry+https://github.com/rust-lang/crates.io-index)" = "afcb699eb26d4332647cc848492bbc15eafb26f08d0304550d5aa1f612e066f0"
-"checksum miow 0.2.1 (registry+https://github.com/rust-lang/crates.io-index)" = "8c1f2f3b1cf331de6896aabf6e9d55dca90356cc9960cca7eaaf408a355ae919"
-"checksum net2 0.2.35 (registry+https://github.com/rust-lang/crates.io-index)" = "3ebc3ec692ed7c9a255596c67808dee269f64655d8baf7b4f0638e51ba1d6853"
+"checksum miow 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)" = "ebd808424166322d4a38da87083bfddd3ac4c131334ed55856112eb06d46944d"
+"checksum net2 0.2.36 (registry+https://github.com/rust-lang/crates.io-index)" = "d7cf75f38f16cb05ea017784dc6dbfd354f76c223dba37701734c4f5a9337d02"
 "checksum num-derive 0.3.3 (registry+https://github.com/rust-lang/crates.io-index)" = "876a53fff98e03a936a674b29568b0e605f06b29372c2489ff4de23f1949743d"
 "checksum num-integer 0.1.44 (registry+https://github.com/rust-lang/crates.io-index)" = "d2cc698a63b549a70bc047073d2949cce27cd1c7b0a4a862d08a8031bc2801db"
 "checksum num-traits 0.2.14 (registry+https://github.com/rust-lang/crates.io-index)" = "9a64b1ec5cda2586e284722486d802acf1f7dbdc623e2bfc57e65ca1cd099290"
@@ -2379,10 +2379,10 @@ dependencies = [
 "checksum sct 0.6.0 (registry+https://github.com/rust-lang/crates.io-index)" = "e3042af939fca8c3453b7af0f1c66e533a15a86169e39de2657310ade8f98d3c"
 "checksum semver 0.9.0 (registry+https://github.com/rust-lang/crates.io-index)" = "1d7eb9ef2c18661902cc47e535f9bc51b78acd254da71d375c2f6720d9a40403"
 "checksum semver-parser 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)" = "388a1df253eca08550bef6c72392cfe7c30914bf41df5269b68cbd6ff8f570a3"
-"checksum serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)" = "b88fa983de7720629c9387e9f517353ed404164b1e482c970a90c1a4aaf7dc1a"
+"checksum serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)" = "06c64263859d87aa2eb554587e2d23183398d617427327cf2b3d0ed8c69e4800"
 "checksum serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)" = "16ae07dd2f88a366f15bd0632ba725227018c69a1c8550a927324f8eb8368bb9"
-"checksum serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)" = "cbd1ae72adb44aab48f325a02444a5fc079349a8d804c1fc922aed3f7454c74e"
-"checksum serde_json 1.0.59 (registry+https://github.com/rust-lang/crates.io-index)" = "dcac07dbffa1c65e7f816ab9eba78eb142c6d44410f4eeba1e26e4f5dfa56b95"
+"checksum serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)" = "c84d3526699cd55261af4b941e4e725444df67aa4f9e6a3564f18030d12672df"
+"checksum serde_json 1.0.60 (registry+https://github.com/rust-lang/crates.io-index)" = "1500e84d27fe482ed1dc791a56eddc2f230046a040fa908c08bda1d9fb615779"
 "checksum serde_urlencoded 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)" = "edfa57a7f8d9c1d260a549e7224100f6c43d43f9103e06dd8b4095a9b2b43ce9"
 "checksum sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)" = "a256f46ea78a0c0d9ff00077504903ac881a1dafdc20da66545699e7776b3e69"
 "checksum sha3 0.9.1 (registry+https://github.com/rust-lang/crates.io-index)" = "f81199417d4e5de3f04b1e871023acea7389672c4135918f05aa9cbf2f2fa809"
@@ -2390,19 +2390,19 @@ dependencies = [
 "checksum slab 0.4.2 (registry+https://github.com/rust-lang/crates.io-index)" = "c111b5bd5695e56cffe5129854aa230b39c93a305372fdbb2668ca2394eea9f8"
 "checksum smallvec 0.6.13 (registry+https://github.com/rust-lang/crates.io-index)" = "f7b0758c52e15a8b5e3691eae6cc559f08eee9406e548a4477ba4e67770a82b6"
 "checksum socket2 0.3.17 (registry+https://github.com/rust-lang/crates.io-index)" = "2c29947abdee2a218277abeca306f25789c938e500ea5a9d4b12a5a504466902"
-"checksum solana-crate-features 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "5177f65cb1c12481166d0f6c88fe07555240ac0d41cf1ccde94bbb060ff4a59f"
-"checksum solana-frozen-abi 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "70986469bb4b6c00297daca48978894bb3dd5db67c960deb20ff6c2cc92a433c"
-"checksum solana-frozen-abi-macro 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "d21c3d3b1f997d3ed70799dbb364ee25ff6d379adb345163017b5f59917ace5d"
-"checksum solana-logger 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "59a95106f81d3848cba067245f530eb2d24d6ad63abd93fcf374c59868b1caa9"
-"checksum solana-program 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "a5c76bf8795867016f886444d8502e831c1c54a904e3f549b38bd784e52edf8b"
-"checksum solana-sdk 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "2619e92eefaaecbaa043535fe7a9b8908a618f146fa54143258e9031bc63f2b9"
-"checksum solana-sdk-macro 1.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "0252cf01ecf46e3a89a485937bbebc3cbb141d1c8609f55aa3845a2c80da3a44"
+"checksum solana-crate-features 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "dc73ada8cddc62edf58dc09ef3cf4551259d0ca1c7ece5f102757279ec2afa95"
+"checksum solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "9e5ab6ad3dda6a3d95d19603eeedc65689d8125eafb3e23c6a1e01ab8a6ba60c"
+"checksum solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "ffaa09aa938a67501479ed8a785071c6993f72c34e43f680db3ea7a2dadad9e7"
+"checksum solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "0d949157d0b23eaf5758b427d90741d2a90751c4e3dfee028f5726ab8b36e769"
+"checksum solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "8e9c6cb16e8aa986bc0d2af8ec50628f7451bef9dac89924adf48302bd4fc755"
+"checksum solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "85c38a02d501422070cd6a4d561b4ab1408e311c5a0b5af3a7bb01246da14f66"
+"checksum solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "475a680cd175f2e256452e007c6f8622d3a1ab97ab36d26303b35576e24f340c"
 "checksum spin 0.5.2 (registry+https://github.com/rust-lang/crates.io-index)" = "6e63cff320ae2c57904679ba7cb63280a3dc4613885beafb148ee7bf9aa9042d"
 "checksum spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)" = "eaa27ab75067c63b8804d9fff30bd2e8bfb5be448bea8067ed768381e70ca181"
 "checksum subtle 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)" = "2d67a5a62ba6e01cb2192ff309324cb4875d0c451d55fe2319433abe7a05a8ee"
 "checksum subtle 2.3.0 (registry+https://github.com/rust-lang/crates.io-index)" = "343f3f510c2915908f155e94f17220b19ccfacf2a64a2a5d8004f2c3e311e7fd"
 "checksum syn 0.15.44 (registry+https://github.com/rust-lang/crates.io-index)" = "9ca4b3b69a77cbe1ffc9e198781b7acb0c7365a883670e8f1c1bc66fba79a5c5"
-"checksum syn 1.0.51 (registry+https://github.com/rust-lang/crates.io-index)" = "3b4f34193997d92804d359ed09953e25d5138df6bcc055a71bf68ee89fdf9223"
+"checksum syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)" = "8833e20724c24de12bbaba5ad230ea61c3eafb05b881c7c9d3cfe8638b187e68"
 "checksum synstructure 0.12.4 (registry+https://github.com/rust-lang/crates.io-index)" = "b834f2d66f734cb897113e34aaff2f1ab4719ca946f9a7358dba8f8064148701"
 "checksum termcolor 1.1.2 (registry+https://github.com/rust-lang/crates.io-index)" = "2dfed899f0eb03f32ee8c6a0aabdb8a7949659e3466561fc0adf54e26d88c5f4"
 "checksum thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)" = "0e9ae34b84616eedaaf1e9dd6026dbe00dcafa92aa0c8077cb69df1fcfe5e53e"
@@ -2445,15 +2445,15 @@ dependencies = [
 "checksum want 0.3.0 (registry+https://github.com/rust-lang/crates.io-index)" = "1ce8a968cb1cd110d136ff8b819a556d6fb6d919363c61534f6860c7eb172ba0"
 "checksum wasi 0.10.0+wasi-snapshot-preview1 (registry+https://github.com/rust-lang/crates.io-index)" = "1a143597ca7c7793eff794def352d41792a93c481eb1042423ff7ff72ba2c31f"
 "checksum wasi 0.9.0+wasi-snapshot-preview1 (registry+https://github.com/rust-lang/crates.io-index)" = "cccddf32554fecc6acb585f82a32a72e28b48f8c4c1883ddfeeeaa96f7d8e519"
-"checksum wasm-bindgen 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)" = "1ac64ead5ea5f05873d7c12b545865ca2b8d28adfc50a49b84770a3a97265d42"
-"checksum wasm-bindgen-backend 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)" = "f22b422e2a757c35a73774860af8e112bff612ce6cb604224e8e47641a9e4f68"
-"checksum wasm-bindgen-futures 0.4.18 (registry+https://github.com/rust-lang/crates.io-index)" = "b7866cab0aa01de1edf8b5d7936938a7e397ee50ce24119aef3e1eaa3b6171da"
-"checksum wasm-bindgen-macro 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)" = "6b13312a745c08c469f0b292dd2fcd6411dba5f7160f593da6ef69b64e407038"
-"checksum wasm-bindgen-macro-support 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)" = "f249f06ef7ee334cc3b8ff031bfc11ec99d00f34d86da7498396dc1e3b1498fe"
-"checksum wasm-bindgen-shared 0.2.68 (registry+https://github.com/rust-lang/crates.io-index)" = "1d649a3145108d7d3fbcde896a468d1bd636791823c9921135218ad89be08307"
-"checksum wasm-bindgen-test 0.3.18 (registry+https://github.com/rust-lang/crates.io-index)" = "34d1cdc8b98a557f24733d50a1199c4b0635e465eecba9c45b214544da197f64"
-"checksum wasm-bindgen-test-macro 0.3.18 (registry+https://github.com/rust-lang/crates.io-index)" = "e8fb9c67be7439ee8ab1b7db502a49c05e51e2835b66796c705134d9b8e1a585"
-"checksum web-sys 0.3.45 (registry+https://github.com/rust-lang/crates.io-index)" = "4bf6ef87ad7ae8008e15a355ce696bed26012b7caa21605188cfd8214ab51e2d"
+"checksum wasm-bindgen 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)" = "3cd364751395ca0f68cafb17666eee36b63077fb5ecd972bbcd74c90c4bf736e"
+"checksum wasm-bindgen-backend 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)" = "1114f89ab1f4106e5b55e688b828c0ab0ea593a1ea7c094b141b14cbaaec2d62"
+"checksum wasm-bindgen-futures 0.4.19 (registry+https://github.com/rust-lang/crates.io-index)" = "1fe9756085a84584ee9457a002b7cdfe0bfff169f45d2591d8be1345a6780e35"
+"checksum wasm-bindgen-macro 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)" = "7a6ac8995ead1f084a8dea1e65f194d0973800c7f571f6edd70adf06ecf77084"
+"checksum wasm-bindgen-macro-support 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)" = "b5a48c72f299d80557c7c62e37e7225369ecc0c963964059509fbafe917c7549"
+"checksum wasm-bindgen-shared 0.2.69 (registry+https://github.com/rust-lang/crates.io-index)" = "7e7811dd7f9398f14cc76efd356f98f03aa30419dea46aa810d71e819fc97158"
+"checksum wasm-bindgen-test 0.3.19 (registry+https://github.com/rust-lang/crates.io-index)" = "0355fa0c1f9b792a09b6dcb6a8be24d51e71e6d74972f9eb4a44c4c004d24a25"
+"checksum wasm-bindgen-test-macro 0.3.19 (registry+https://github.com/rust-lang/crates.io-index)" = "27e07b46b98024c2ba2f9e83a10c2ef0515f057f2da299c1762a2017de80438b"
+"checksum web-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)" = "222b1ef9334f92a21d3fb53dc3fd80f30836959a90f9274a626d7e06315ba3c3"
 "checksum webpki 0.21.2 (registry+https://github.com/rust-lang/crates.io-index)" = "f1f50e1972865d6b1adb54167d1c8ed48606004c2c9d0ea5f1eeb34d95e863ef"
 "checksum webpki-roots 0.20.0 (registry+https://github.com/rust-lang/crates.io-index)" = "0f20dea7535251981a9670857150d571846545088359b28e4951d350bdaf179f"
 "checksum winapi 0.2.8 (registry+https://github.com/rust-lang/crates.io-index)" = "167dc9d6949a9b857f3451275e911c3f44255842c1f7a76f33c55103a909087a"
diff --git a/lockup/program/src/common/mod.rs b/lockup/program/src/common/mod.rs
index af2c212..f0aaac8 100644
--- a/lockup/program/src/common/mod.rs
+++ b/lockup/program/src/common/mod.rs
@@ -7,25 +7,6 @@ use solana_sdk::pubkey::Pubkey;
 
 pub mod access_control;
 
-// Prepends the program's unique TAG identifier before making the signed
-// cross program invocation to a *trusted* program on the whitelist.
-//
-// The trusted program should perform three steps of validation:
-//
-// 1. Check for the TAG identifier in the first 8 bytes of the instruction data.
-//    If present, then authentication must be done on the following two steps.
-// 2. Check accounts[1] is signed.
-// 3. Check accounts[1] is the correct program derived address for the vesting
-//    account, i.e., signer seeds == [safe_address, beneficiary_address, nonce].
-//
-// If all of these hold, a program can trust the instruction was invoked
-// by a the lockup program on behalf of a vesting account.
-//
-// Importantly, it's the responsibility of the trusted program to maintain the
-// locked invariant preserved by this program and to return the funds at an
-// unspecified point in the future for unlocking. Any bug in the trusted program
-// can result in locked funds becoming unlocked, so take care when adding to the
-// whitelist.
 pub fn whitelist_cpi(
     mut instruction: Instruction,
     safe: &Pubkey,
@@ -33,11 +14,6 @@ pub fn whitelist_cpi(
     vesting: &Vesting,
     accounts: &[AccountInfo],
 ) -> ProgramResult {
-    let mut data = serum_lockup::instruction::TAG.to_le_bytes().to_vec();
-    data.extend(instruction.data);
-
-    instruction.data = data;
-
     let signer_seeds = vault::signer_seeds(safe, beneficiary_acc_info.key, &vesting.nonce);
     solana_sdk::program::invoke_signed(&instruction, accounts, &[&signer_seeds])
 }
diff --git a/lockup/program/src/create_vesting.rs b/lockup/program/src/create_vesting.rs
index 80f412a..616001f 100644
--- a/lockup/program/src/create_vesting.rs
+++ b/lockup/program/src/create_vesting.rs
@@ -3,7 +3,7 @@ use serum_common::pack::Pack;
 use serum_common::program::invoke_token_transfer;
 use serum_lockup::accounts::{vault, Vesting};
 use serum_lockup::error::{LockupError, LockupErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 use spl_token::state::Account as TokenAccount;
@@ -18,7 +18,7 @@ pub fn handler(
     deposit_amount: u64,
     nonce: u8,
 ) -> Result<(), LockupError> {
-    info!("handler: create_vesting");
+    msg!("handler: create_vesting");
 
     let acc_infos = &mut accounts.iter();
 
@@ -72,7 +72,7 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, LockupError> {
-    info!("access-control: create_vesting");
+    msg!("access-control: create_vesting");
 
     let AccessControlRequest {
         program_id,
@@ -151,7 +151,7 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Lo
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), LockupError> {
-    info!("state-transition: create_vesting");
+    msg!("state-transition: create_vesting");
 
     let StateTransitionRequest {
         clock_ts,
diff --git a/lockup/src/lib.rs b/lockup/src/lib.rs
index 1aeb947..14d7fc6 100644
--- a/lockup/src/lib.rs
+++ b/lockup/src/lib.rs
@@ -12,8 +12,6 @@ pub mod error;
 pub mod instruction {
     use super::*;
 
-    pub const TAG: u64 = 0x9c52b5632b5f74d2;
-
     #[derive(Debug, BorshSerialize, BorshDeserialize, BorshSchema)]
     pub enum LockupInstruction {
         /// Accounts:
diff --git a/registry/cli/src/lib.rs b/registry/cli/src/lib.rs
index f47e5b5..914ce4a 100644
--- a/registry/cli/src/lib.rs
+++ b/registry/cli/src/lib.rs
@@ -44,6 +44,10 @@ pub enum SubCommand {
         reward_activation_threshold: u64,
         #[clap(short, long)]
         max_stake_per_entity: u64,
+        #[clap(short, long)]
+        stake_rate: u64,
+        #[clap(short = 'b', long)]
+        stake_rate_mega: u64,
     },
     /// Creates and registers a delegated staked node entity.
     CreateEntity {
@@ -115,6 +119,8 @@ pub fn run(opts: Opts) -> Result<()> {
             deactivation_timelock,
             reward_activation_threshold,
             max_stake_per_entity,
+            stake_rate,
+            stake_rate_mega,
         } => init(
             ctx,
             registry_pid,
@@ -122,6 +128,8 @@ pub fn run(opts: Opts) -> Result<()> {
             deactivation_timelock,
             reward_activation_threshold,
             max_stake_per_entity,
+            stake_rate,
+            stake_rate_mega,
         ),
         SubCommand::CreateEntity {
             leader,
@@ -193,7 +201,7 @@ fn create_entity_cmd(
         .map_err(|_| anyhow!("Unable to read leader keypair file"))?;
 
     let client = ctx.connect::<Client>(registry_pid)?;
-    let CreateEntityResponse { tx, entity } = client.create_entity(CreateEntityRequest {
+    let CreateEntityResponse { entity, .. } = client.create_entity(CreateEntityRequest {
         node_leader: &leader_kp,
         registrar,
         name,
@@ -260,6 +268,8 @@ pub fn init(
     deactivation_timelock: i64,
     reward_activation_threshold: u64,
     max_stake_per_entity: u64,
+    stake_rate: u64,
+    stake_rate_mega: u64,
 ) -> Result<()> {
     let registry_pid = registry_pid.ok_or(anyhow!(
         "Please provide --pid when initializing a registrar"
@@ -281,6 +291,8 @@ pub fn init(
         mega_mint: ctx.msrm_mint,
         reward_activation_threshold,
         max_stake_per_entity,
+        stake_rate,
+        stake_rate_mega,
     })?;
 
     println!(
diff --git a/registry/client/src/inner.rs b/registry/client/src/inner.rs
deleted file mode 100644
index a0c1e12..0000000
--- a/registry/client/src/inner.rs
+++ /dev/null
@@ -1,315 +0,0 @@
-use serum_common::client::rpc;
-use serum_common::pack::Pack;
-use serum_registry::accounts;
-use serum_registry::accounts::reward_queue::{RewardEventQueue, Ring};
-use serum_registry::client::{Client as InnerClient, ClientError as InnerClientError};
-use solana_client_gen::prelude::*;
-use solana_client_gen::solana_sdk;
-use solana_client_gen::solana_sdk::instruction::{AccountMeta, Instruction};
-use solana_client_gen::solana_sdk::pubkey::Pubkey;
-use solana_client_gen::solana_sdk::system_instruction;
-
-pub fn initialize(
-    client: &InnerClient,
-    mint: &Pubkey,
-    mega_mint: &Pubkey,
-    registrar_authority: &Pubkey,
-    withdrawal_timelock: i64,
-    deactivation_timelock_premium: i64,
-    reward_activation_threshold: u64,
-    max_stake_per_entity: u64,
-) -> Result<(Signature, Pubkey, Pubkey, u8, Pubkey, Pubkey), InnerClientError> {
-    let reward_event_q = Keypair::generate(&mut OsRng);
-    let registrar_kp = Keypair::generate(&mut OsRng);
-    let (registrar_vault_authority, nonce) =
-        Pubkey::find_program_address(&[registrar_kp.pubkey().as_ref()], client.program());
-
-    // Create and initialize the vaults, both owned by the program-derived-address.
-    let srm_vault = rpc::create_token_account(
-        client.rpc(),
-        mint,
-        &registrar_vault_authority,
-        client.payer(),
-    )
-    .map_err(|e| InnerClientError::RawError(e.to_string()))?;
-    let msrm_vault = rpc::create_token_account(
-        client.rpc(),
-        mega_mint,
-        &registrar_vault_authority,
-        client.payer(),
-    )
-    .map_err(|e| InnerClientError::RawError(e.to_string()))?;
-
-    let pool_vault = rpc::create_token_account(
-        client.rpc(),
-        mint,
-        &registrar_vault_authority,
-        client.payer(),
-    )
-    .map_err(|e| InnerClientError::RawError(e.to_string()))?
-    .pubkey();
-    let mega_pool_vault = rpc::create_token_account(
-        client.rpc(),
-        mega_mint,
-        &registrar_vault_authority,
-        client.payer(),
-    )
-    .map_err(|e| InnerClientError::RawError(e.to_string()))?
-    .pubkey();
-    let decimals = 6; // TODO: decide on this.
-    let pool_mint = rpc::new_mint(
-        client.rpc(),
-        client.payer(),
-        &registrar_vault_authority,
-        decimals,
-    )
-    .map_err(|e| InnerClientError::RawError(e.to_string()))?
-    .0
-    .pubkey();
-
-    let mega_pool_mint = rpc::new_mint(
-        client.rpc(),
-        client.payer(),
-        &registrar_vault_authority,
-        decimals,
-    )
-    .map_err(|e| InnerClientError::RawError(e.to_string()))?
-    .0
-    .pubkey();
-
-    // Build the instructions.
-    let ixs = {
-        let create_registrar_acc_instr = {
-            let lamports = client
-                .rpc()
-                .get_minimum_balance_for_rent_exemption(*accounts::registrar::SIZE as usize)
-                .map_err(InnerClientError::RpcError)?;
-            system_instruction::create_account(
-                &client.payer().pubkey(),
-                &registrar_kp.pubkey(),
-                lamports,
-                *accounts::registrar::SIZE,
-                client.program(),
-            )
-        };
-        let create_reward_event_q_instr = {
-            let data_size = RewardEventQueue::buffer_size(RewardEventQueue::RING_CAPACITY);
-            let lamports = client
-                .rpc()
-                .get_minimum_balance_for_rent_exemption(data_size)?;
-            solana_sdk::system_instruction::create_account(
-                &client.payer().pubkey(),
-                &reward_event_q.pubkey(),
-                lamports,
-                data_size as u64,
-                client.program(),
-            )
-        };
-
-        let initialize_registrar_instr = {
-            let accounts = [
-                AccountMeta::new(registrar_kp.pubkey(), false),
-                // Deposit vaults.
-                AccountMeta::new_readonly(srm_vault.pubkey(), false),
-                AccountMeta::new_readonly(msrm_vault.pubkey(), false),
-                // Pool vaults.
-                AccountMeta::new_readonly(pool_vault, false),
-                AccountMeta::new_readonly(mega_pool_vault, false),
-                // Pool mints.
-                AccountMeta::new_readonly(pool_mint, false),
-                AccountMeta::new_readonly(mega_pool_mint, false),
-                AccountMeta::new(reward_event_q.pubkey(), false),
-                AccountMeta::new_readonly(solana_sdk::sysvar::rent::id(), false),
-            ];
-            serum_registry::instruction::initialize(
-                *client.program(),
-                &accounts,
-                *registrar_authority,
-                nonce,
-                withdrawal_timelock,
-                deactivation_timelock_premium,
-                reward_activation_threshold,
-                max_stake_per_entity,
-            )
-        };
-
-        vec![
-            create_reward_event_q_instr,
-            create_registrar_acc_instr,
-            initialize_registrar_instr,
-        ]
-    };
-
-    let (recent_hash, _fee_calc) = client
-        .rpc()
-        .get_recent_blockhash()
-        .map_err(|e| InnerClientError::RawError(e.to_string()))?;
-    let tx = Transaction::new_signed_with_payer(
-        &ixs,
-        Some(&client.payer().pubkey()),
-        &vec![client.payer(), &reward_event_q, &registrar_kp],
-        recent_hash,
-    );
-    let sig = client
-        .rpc()
-        .send_and_confirm_transaction_with_spinner_and_config(
-            &tx,
-            client.options().commitment,
-            client.options().tx,
-        )
-        .map_err(InnerClientError::RpcError)?;
-    Ok((
-        sig,
-        registrar_kp.pubkey(),
-        reward_event_q.pubkey(),
-        nonce,
-        pool_vault,
-        mega_pool_vault,
-    ))
-}
-
-pub fn create_entity(
-    client: &InnerClient,
-    registrar: Pubkey,
-    leader_kp: &Keypair,
-    name: String,
-    about: String,
-    image_url: String,
-    meta_entity_program_id: Pubkey,
-) -> Result<(Signature, Pubkey), InnerClientError> {
-    let entity_kp = Keypair::generate(&mut OsRng);
-    let create_acc_instr = {
-        let lamports = client
-            .rpc()
-            .get_minimum_balance_for_rent_exemption(*accounts::entity::SIZE as usize)
-            .map_err(InnerClientError::RpcError)?;
-        system_instruction::create_account(
-            &client.payer().pubkey(),
-            &entity_kp.pubkey(),
-            lamports,
-            *accounts::entity::SIZE,
-            client.program(),
-        )
-    };
-
-    let accounts = [
-        AccountMeta::new(entity_kp.pubkey(), false),
-        AccountMeta::new_readonly(leader_kp.pubkey(), true),
-        AccountMeta::new_readonly(registrar, false),
-        AccountMeta::new_readonly(solana_sdk::sysvar::rent::ID, false),
-    ];
-
-    let metadata = Keypair::generate(&mut OsRng);
-    let mqueue = Keypair::generate(&mut OsRng);
-    let create_entity_instr =
-        serum_registry::instruction::create_entity(*client.program(), &accounts, metadata.pubkey());
-
-    let create_md_instrs = create_metadata_instructions(
-        client.rpc(),
-        &client.payer().pubkey(),
-        &metadata,
-        &mqueue,
-        &meta_entity_program_id,
-        &entity_kp.pubkey(),
-        name,
-        about,
-        image_url,
-    );
-    let mut instructions = create_md_instrs;
-    instructions.extend_from_slice(&[create_acc_instr, create_entity_instr]);
-
-    let signers = vec![leader_kp, &metadata, &mqueue, &entity_kp, client.payer()];
-    let (recent_hash, _fee_calc) = client.rpc().get_recent_blockhash()?;
-
-    let tx = Transaction::new_signed_with_payer(
-        &instructions,
-        Some(&client.payer().pubkey()),
-        &signers,
-        recent_hash,
-    );
-
-    client
-        .rpc()
-        .send_and_confirm_transaction_with_spinner_and_config(
-            &tx,
-            client.options().commitment,
-            client.options().tx,
-        )
-        .map_err(InnerClientError::RpcError)
-        .map(|sig| (sig, entity_kp.pubkey()))
-}
-
-// todo: remove
-pub fn member_seed() -> &'static str {
-    "srm:registry:member"
-}
-
-fn create_metadata_instructions(
-    client: &RpcClient,
-    payer: &Pubkey,
-    metadata: &Keypair,
-    mqueue: &Keypair,
-    program_id: &Pubkey,
-    entity: &Pubkey,
-    name: String,
-    about: String,
-    image_url: String,
-) -> Vec<Instruction> {
-    let md = serum_meta_entity::accounts::Metadata {
-        initialized: false,
-        entity: Pubkey::new_from_array([0; 32]),
-        authority: *payer,
-        name: name.clone(),
-        about: about.clone(),
-        image_url: image_url.clone(),
-        chat: Pubkey::new_from_array([0; 32]),
-    };
-    let metadata_size = md.size().unwrap();
-    let lamports = client
-        .get_minimum_balance_for_rent_exemption(metadata_size as usize)
-        .unwrap();
-    let create_metadata_instr = solana_sdk::system_instruction::create_account(
-        payer,
-        &metadata.pubkey(),
-        lamports,
-        metadata_size as u64,
-        program_id,
-    );
-
-    let mqueue_size = serum_meta_entity::accounts::MQueue::SIZE;
-    let lamports = client
-        .get_minimum_balance_for_rent_exemption(mqueue_size)
-        .unwrap();
-    let create_mqueue_instr = solana_sdk::system_instruction::create_account(
-        payer,
-        &mqueue.pubkey(),
-        lamports,
-        mqueue_size as u64,
-        program_id,
-    );
-
-    let initialize_metadata_instr = {
-        let accounts = vec![AccountMeta::new(metadata.pubkey(), false)];
-        let instr = serum_meta_entity::instruction::MetaEntityInstruction::Initialize {
-            entity: *entity,
-            authority: *payer,
-            name,
-            about,
-            image_url,
-            chat: mqueue.pubkey(),
-        };
-        let mut data = vec![0u8; instr.size().unwrap() as usize];
-        serum_meta_entity::instruction::MetaEntityInstruction::pack(instr, &mut data).unwrap();
-        Instruction {
-            program_id: *program_id,
-            accounts,
-            data,
-        }
-    };
-
-    vec![
-        create_metadata_instr,
-        create_mqueue_instr,
-        initialize_metadata_instr,
-    ]
-}
diff --git a/registry/client/src/lib.rs b/registry/client/src/lib.rs
index 00a2336..1e8c61f 100644
--- a/registry/client/src/lib.rs
+++ b/registry/client/src/lib.rs
@@ -1,7 +1,9 @@
 use serum_common::client::rpc;
 use serum_common::pack::*;
+use serum_meta_entity::accounts::mqueue::{MQueue, Ring as MQueueRing};
+use serum_registry::accounts::reward_queue::{RewardEventQueue, Ring};
 use serum_registry::accounts::{
-    self, pending_withdrawal, vault, Entity, Member, PendingWithdrawal, Registrar,
+    self, pending_withdrawal, vault, BalanceSandbox, Entity, Member, PendingWithdrawal, Registrar,
 };
 use serum_registry::client::{Client as InnerClient, ClientError as InnerClientError};
 use solana_client_gen::prelude::*;
@@ -13,8 +15,6 @@ use spl_token::state::Account as TokenAccount;
 use std::convert::Into;
 use thiserror::Error;
 
-mod inner;
-
 pub struct Client {
     inner: InnerClient,
 }
@@ -30,31 +30,129 @@ impl Client {
             withdrawal_timelock,
             deactivation_timelock,
             max_stake_per_entity,
+            reward_activation_threshold,
             mint,
             mega_mint,
-            reward_activation_threshold,
+            stake_rate,
+            stake_rate_mega,
         } = req;
-        let (tx, registrar, reward_event_q, nonce, pool_vault, pool_vault_mega) =
-            inner::initialize(
-                &self.inner,
-                &mint,
-                &mega_mint,
-                &registrar_authority,
-                withdrawal_timelock,
-                deactivation_timelock,
-                reward_activation_threshold,
-                max_stake_per_entity,
-            )?;
+
+        let reward_event_q = Keypair::generate(&mut OsRng);
+        let registrar_kp = Keypair::generate(&mut OsRng);
+        let (registrar_vault_authority, nonce) =
+            Pubkey::find_program_address(&[registrar_kp.pubkey().as_ref()], self.inner.program());
+
+        let decimals = 6; // TODO: decide on this.
+        let pool_mint = rpc::new_mint(
+            self.rpc(),
+            self.inner.payer(),
+            &registrar_vault_authority,
+            decimals,
+        )
+        .map_err(|e| InnerClientError::RawError(e.to_string()))?
+        .0
+        .pubkey();
+
+        let mega_pool_mint = rpc::new_mint(
+            self.rpc(),
+            self.inner.payer(),
+            &registrar_vault_authority,
+            decimals,
+        )
+        .map_err(|e| InnerClientError::RawError(e.to_string()))?
+        .0
+        .pubkey();
+
+        // Build the instructions.
+        let ixs = {
+            let create_registrar_acc_instr = {
+                let lamports = self
+                    .inner
+                    .rpc()
+                    .get_minimum_balance_for_rent_exemption(*accounts::registrar::SIZE as usize)
+                    .map_err(InnerClientError::RpcError)?;
+                system_instruction::create_account(
+                    &self.inner.payer().pubkey(),
+                    &registrar_kp.pubkey(),
+                    lamports,
+                    *accounts::registrar::SIZE,
+                    self.inner.program(),
+                )
+            };
+            let create_reward_event_q_instr = {
+                let data_size = RewardEventQueue::buffer_size(RewardEventQueue::RING_CAPACITY);
+                let lamports = self
+                    .inner
+                    .rpc()
+                    .get_minimum_balance_for_rent_exemption(data_size)?;
+                solana_sdk::system_instruction::create_account(
+                    &self.inner.payer().pubkey(),
+                    &reward_event_q.pubkey(),
+                    lamports,
+                    data_size as u64,
+                    self.inner.program(),
+                )
+            };
+
+            let initialize_registrar_instr = {
+                let accounts = [
+                    AccountMeta::new(registrar_kp.pubkey(), false),
+                    AccountMeta::new_readonly(pool_mint, false),
+                    AccountMeta::new_readonly(mega_pool_mint, false),
+                    AccountMeta::new(reward_event_q.pubkey(), false),
+                    AccountMeta::new_readonly(solana_sdk::sysvar::rent::id(), false),
+                ];
+                serum_registry::instruction::initialize(
+                    *self.inner.program(),
+                    &accounts,
+                    registrar_authority,
+                    mint,
+                    mega_mint,
+                    nonce,
+                    withdrawal_timelock,
+                    deactivation_timelock,
+                    reward_activation_threshold,
+                    max_stake_per_entity,
+                    stake_rate,
+                    stake_rate_mega,
+                )
+            };
+
+            vec![
+                create_reward_event_q_instr,
+                create_registrar_acc_instr,
+                initialize_registrar_instr,
+            ]
+        };
+
+        let (recent_hash, _fee_calc) = self
+            .inner
+            .rpc()
+            .get_recent_blockhash()
+            .map_err(|e| InnerClientError::RawError(e.to_string()))?;
+        let tx = Transaction::new_signed_with_payer(
+            &ixs,
+            Some(&self.inner.payer().pubkey()),
+            &vec![self.inner.payer(), &reward_event_q, &registrar_kp],
+            recent_hash,
+        );
+        let sig = self
+            .inner
+            .rpc()
+            .send_and_confirm_transaction_with_spinner_and_config(
+                &tx,
+                self.inner.options().commitment,
+                self.inner.options().tx,
+            )
+            .map_err(InnerClientError::RpcError)?;
+
         Ok(InitializeResponse {
-            tx,
-            registrar,
-            reward_event_q,
+            tx: sig,
+            registrar: registrar_kp.pubkey(),
+            reward_event_q: reward_event_q.pubkey(),
             nonce,
-            pool_vault,
-            pool_vault_mega,
         })
     }
-
     pub fn create_entity(
         &self,
         req: CreateEntityRequest,
@@ -67,16 +165,79 @@ impl Client {
             image_url,
             meta_entity_program_id,
         } = req;
-        let (tx, entity) = inner::create_entity(
-            &self.inner,
-            registrar,
-            node_leader,
+        let entity_kp = Keypair::generate(&mut OsRng);
+        let create_acc_instr = {
+            let lamports = self
+                .inner
+                .rpc()
+                .get_minimum_balance_for_rent_exemption(*accounts::entity::SIZE as usize)
+                .map_err(InnerClientError::RpcError)?;
+            system_instruction::create_account(
+                &self.inner.payer().pubkey(),
+                &entity_kp.pubkey(),
+                lamports,
+                *accounts::entity::SIZE,
+                self.inner.program(),
+            )
+        };
+
+        let accounts = [
+            AccountMeta::new(entity_kp.pubkey(), false),
+            AccountMeta::new_readonly(node_leader.pubkey(), true),
+            AccountMeta::new_readonly(registrar, false),
+            AccountMeta::new_readonly(solana_sdk::sysvar::rent::ID, false),
+        ];
+
+        let metadata = Keypair::generate(&mut OsRng);
+        let mqueue = Keypair::generate(&mut OsRng);
+        let create_entity_instr = serum_registry::instruction::create_entity(
+            *self.inner.program(),
+            &accounts,
+            metadata.pubkey(),
+        );
+
+        let create_md_instrs = create_metadata_instructions(
+            self.rpc(),
+            &self.inner.payer().pubkey(),
+            &metadata,
+            &mqueue,
+            &meta_entity_program_id,
+            &entity_kp.pubkey(),
             name,
             about,
             image_url,
-            meta_entity_program_id,
-        )?;
-        Ok(CreateEntityResponse { tx, entity })
+        );
+        let mut instructions = create_md_instrs;
+        instructions.extend_from_slice(&[create_acc_instr, create_entity_instr]);
+
+        let signers = vec![
+            node_leader,
+            &metadata,
+            &mqueue,
+            &entity_kp,
+            self.inner.payer(),
+        ];
+        let (recent_hash, _fee_calc) = self.rpc().get_recent_blockhash()?;
+
+        let tx = Transaction::new_signed_with_payer(
+            &instructions,
+            Some(&self.inner.payer().pubkey()),
+            &signers,
+            recent_hash,
+        );
+
+        self.inner
+            .rpc()
+            .send_and_confirm_transaction_with_spinner_and_config(
+                &tx,
+                self.inner.options().commitment,
+                self.inner.options().tx,
+            )
+            .map_err(ClientError::RpcError)
+            .map(|sig| CreateEntityResponse {
+                tx: sig,
+                entity: entity_kp.pubkey(),
+            })
     }
 
     pub fn update_entity(
@@ -118,23 +279,29 @@ impl Client {
         let vault_authority = self.vault_authority(&registrar)?;
         let r = self.registrar(&registrar)?;
 
-        let pool_token = Keypair::generate(&mut OsRng);
-        let mega_pool_token = Keypair::generate(&mut OsRng);
+        let BalanceAccounts {
+            spt,
+            spt_mega,
+            vault,
+            vault_mega,
+            vault_stake,
+            vault_stake_mega,
+            vault_pw,
+            vault_pw_mega,
+            ..
+        } = self.create_member_accounts(&r, vault_authority)?;
 
-        let create_pool_token_instrs = rpc::create_token_account_instructions(
-            self.inner.rpc(),
-            pool_token.pubkey(),
-            &r.pool_mint,
-            &vault_authority,
-            self.inner.payer(),
-        )?;
-        let create_mega_pool_token_instrs = rpc::create_token_account_instructions(
-            self.inner.rpc(),
-            mega_pool_token.pubkey(),
-            &r.pool_mint_mega,
-            &vault_authority,
-            self.inner.payer(),
-        )?;
+        let BalanceAccounts {
+            spt: locked_spt,
+            spt_mega: locked_spt_mega,
+            vault: locked_vault,
+            vault_mega: locked_vault_mega,
+            vault_stake: locked_vault_stake,
+            vault_stake_mega: locked_vault_stake_mega,
+            vault_pw: locked_vault_pw,
+            vault_pw_mega: locked_vault_pw_mega,
+            ..
+        } = self.create_member_accounts(&r, vault_authority)?;
 
         let member_kp = Keypair::generate(&mut OsRng);
         let create_acc_instr = {
@@ -158,28 +325,38 @@ impl Client {
             AccountMeta::new(entity, false),
             AccountMeta::new_readonly(registrar, false),
             AccountMeta::new_readonly(vault_authority, false),
-            AccountMeta::new_readonly(pool_token.pubkey(), false),
-            AccountMeta::new_readonly(mega_pool_token.pubkey(), false),
             AccountMeta::new_readonly(spl_token::ID, false),
             AccountMeta::new_readonly(solana_sdk::sysvar::rent::ID, false),
+            // Main.
+            AccountMeta::new_readonly(beneficiary.pubkey(), false),
+            AccountMeta::new(spt.pubkey(), false),
+            AccountMeta::new(spt_mega.pubkey(), false),
+            AccountMeta::new_readonly(vault.pubkey(), false),
+            AccountMeta::new_readonly(vault_mega.pubkey(), false),
+            AccountMeta::new_readonly(vault_stake.pubkey(), false),
+            AccountMeta::new_readonly(vault_stake_mega.pubkey(), false),
+            AccountMeta::new_readonly(vault_pw.pubkey(), false),
+            AccountMeta::new_readonly(vault_pw_mega.pubkey(), false),
+            // Locked.
+            AccountMeta::new_readonly(delegate, false),
+            AccountMeta::new(locked_spt.pubkey(), false),
+            AccountMeta::new(locked_spt_mega.pubkey(), false),
+            AccountMeta::new_readonly(locked_vault.pubkey(), false),
+            AccountMeta::new_readonly(locked_vault_mega.pubkey(), false),
+            AccountMeta::new_readonly(locked_vault_stake.pubkey(), false),
+            AccountMeta::new_readonly(locked_vault_stake_mega.pubkey(), false),
+            AccountMeta::new_readonly(locked_vault_pw.pubkey(), false),
+            AccountMeta::new_readonly(locked_vault_pw_mega.pubkey(), false),
         ];
 
         let member_instr =
-            serum_registry::instruction::create_member(*self.inner.program(), &accounts, delegate);
+            serum_registry::instruction::create_member(*self.inner.program(), &accounts);
 
         let mut instructions = vec![];
-        instructions.extend_from_slice(&create_pool_token_instrs);
-        instructions.extend_from_slice(&create_mega_pool_token_instrs);
         instructions.extend_from_slice(&[create_acc_instr, member_instr]);
 
-        let signers = vec![
-            self.inner.payer(),
-            &member_kp,
-            beneficiary,
-            &pool_token,
-            &mega_pool_token,
-        ];
-        let (recent_hash, _fee_calc) = self.inner.rpc().get_recent_blockhash()?;
+        let signers = vec![self.inner.payer(), &member_kp, beneficiary];
+        let (recent_hash, _fee_calc) = self.rpc().get_recent_blockhash()?;
 
         let tx = Transaction::new_signed_with_payer(
             &instructions,
@@ -202,6 +379,141 @@ impl Client {
             })
     }
 
+    fn create_member_accounts(
+        &self,
+        r: &Registrar,
+        vault_authority: Pubkey,
+    ) -> Result<BalanceAccounts, ClientError> {
+        let spt = Keypair::generate(&mut OsRng);
+        let spt_mega = Keypair::generate(&mut OsRng);
+        let vault = Keypair::generate(&mut OsRng);
+        let vault_mega = Keypair::generate(&mut OsRng);
+        let vault_stake = Keypair::generate(&mut OsRng);
+        let vault_stake_mega = Keypair::generate(&mut OsRng);
+        let vault_pw = Keypair::generate(&mut OsRng);
+        let vault_pw_mega = Keypair::generate(&mut OsRng);
+        let create_pool_token_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            spt.pubkey(),
+            &r.pool_mint,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+        let create_mega_pool_token_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            spt_mega.pubkey(),
+            &r.pool_mint_mega,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+        let create_vault_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            vault.pubkey(),
+            &r.mint,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+        let create_vault_mega_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            vault_mega.pubkey(),
+            &r.mega_mint,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+        let create_vault_stake_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            vault_stake.pubkey(),
+            &r.mint,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+        let create_vault_stake_mega_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            vault_stake_mega.pubkey(),
+            &r.mega_mint,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+        let create_vault_pw_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            vault_pw.pubkey(),
+            &r.mint,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+        let create_vault_pw_mega_ix = rpc::create_token_account_instructions(
+            self.rpc(),
+            vault_pw_mega.pubkey(),
+            &r.mega_mint,
+            &vault_authority,
+            self.inner.payer(),
+        )?;
+
+        let mut instructions0 = vec![];
+        instructions0.extend_from_slice(&create_pool_token_ix);
+        instructions0.extend_from_slice(&create_mega_pool_token_ix);
+        instructions0.extend_from_slice(&create_vault_ix);
+        instructions0.extend_from_slice(&create_vault_mega_ix);
+
+        let mut instructions1 = vec![];
+        instructions1.extend_from_slice(&create_vault_stake_ix);
+        instructions1.extend_from_slice(&create_vault_stake_mega_ix);
+        instructions1.extend_from_slice(&create_vault_pw_ix);
+        instructions1.extend_from_slice(&create_vault_pw_mega_ix);
+
+        let signers0 = vec![self.inner.payer(), &spt, &spt_mega, &vault, &vault_mega];
+        let signers1 = vec![
+            self.inner.payer(),
+            &vault_stake,
+            &vault_stake_mega,
+            &vault_pw,
+            &vault_pw_mega,
+        ];
+        let (recent_hash, _fee_calc) = self.rpc().get_recent_blockhash()?;
+
+        let tx0 = Transaction::new_signed_with_payer(
+            &instructions0,
+            Some(&self.inner.payer().pubkey()),
+            &signers0,
+            recent_hash,
+        );
+        let tx1 = Transaction::new_signed_with_payer(
+            &instructions1,
+            Some(&self.inner.payer().pubkey()),
+            &signers1,
+            recent_hash,
+        );
+
+        let _sig0 = self
+            .inner
+            .rpc()
+            .send_and_confirm_transaction_with_spinner_and_config(
+                &tx0,
+                self.inner.options().commitment,
+                self.inner.options().tx,
+            )
+            .map_err(ClientError::RpcError)?;
+        let _sig1 = self
+            .inner
+            .rpc()
+            .send_and_confirm_transaction_with_spinner_and_config(
+                &tx1,
+                self.inner.options().commitment,
+                self.inner.options().tx,
+            )
+            .map_err(ClientError::RpcError)?;
+        Ok(BalanceAccounts {
+            spt,
+            spt_mega,
+            vault,
+            vault_mega,
+            vault_stake,
+            vault_stake_mega,
+            vault_pw,
+            vault_pw_mega,
+        })
+    }
+
     pub fn deposit(&self, req: DepositRequest) -> Result<DepositResponse, ClientError> {
         let DepositRequest {
             member,
@@ -212,8 +524,9 @@ impl Client {
             registrar,
             amount,
         } = req;
-        let vault = self.vault_for(&registrar, &depositor)?;
-        let vault_acc = rpc::get_token_account::<TokenAccount>(self.inner.rpc(), &vault)?;
+
+        let vault = self.vault_for(&member, &depositor, false)?;
+        let vault_acc = rpc::get_token_account::<TokenAccount>(self.rpc(), &vault)?;
         let accounts = vec![
             // Whitelist relay interface,
             AccountMeta::new(depositor, false),
@@ -226,7 +539,6 @@ impl Client {
             AccountMeta::new_readonly(beneficiary.pubkey(), true),
             AccountMeta::new(entity, false),
             AccountMeta::new_readonly(registrar, false),
-            AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
         ];
 
         let signers = [self.payer(), beneficiary, depositor_authority];
@@ -247,8 +559,8 @@ impl Client {
             registrar,
             amount,
         } = req;
-        let vault = self.vault_for(&registrar, &depositor)?;
-        let vault_acc = rpc::get_token_account::<TokenAccount>(self.inner.rpc(), &vault)?;
+        let vault = self.vault_for(&member, &depositor, false)?;
+        let vault_acc = rpc::get_token_account::<TokenAccount>(self.rpc(), &vault)?;
         let accounts = vec![
             // Whitelist relay interface.
             AccountMeta::new(depositor, false),
@@ -261,7 +573,6 @@ impl Client {
             AccountMeta::new_readonly(beneficiary.pubkey(), true),
             AccountMeta::new(entity, false),
             AccountMeta::new_readonly(registrar, false),
-            AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
         ];
         let signers = [self.payer(), beneficiary];
 
@@ -280,24 +591,33 @@ impl Client {
             registrar,
             pool_token_amount,
             mega, // TODO: remove.
+            balance_id,
         } = req;
         let r = self.registrar(&registrar)?;
-        let (vault, pool_vault, pool_mint) = {
-            if mega {
-                (r.mega_vault, r.pool_vault_mega, r.pool_mint_mega)
-            } else {
-                (r.vault, r.pool_vault, r.pool_mint)
-            }
+        let m = self.member(&member)?;
+        let b = m
+            .balances
+            .iter()
+            .filter(|b| b.owner == balance_id)
+            .collect::<Vec<&BalanceSandbox>>();
+        let balances = b.first().unwrap();
+
+        let (pool_mint, spt, vault, vault_stake) = match mega {
+            false => (
+                r.pool_mint,
+                balances.spt,
+                balances.vault,
+                balances.vault_stake,
+            ),
+            true => (
+                r.pool_mint_mega,
+                balances.spt_mega,
+                balances.vault_mega,
+                balances.vault_stake_mega,
+            ),
         };
+
         let vault_authority = self.vault_authority(&registrar)?;
-        let m_acc = self.member(&member)?;
-        let spt = {
-            if mega {
-                m_acc.spt_mega
-            } else {
-                m_acc.spt
-            }
-        };
 
         let accounts = vec![
             AccountMeta::new(member, false),
@@ -306,7 +626,7 @@ impl Client {
             AccountMeta::new_readonly(registrar, false),
             AccountMeta::new(vault, false),
             AccountMeta::new_readonly(vault_authority, false),
-            AccountMeta::new(pool_vault, false),
+            AccountMeta::new(vault_stake, false),
             AccountMeta::new(pool_mint, false),
             AccountMeta::new(spt, false),
             AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
@@ -315,9 +635,9 @@ impl Client {
 
         let signers = [self.payer(), beneficiary];
 
-        let tx = self
-            .inner
-            .stake_with_signers(&signers, &accounts, pool_token_amount)?;
+        let tx =
+            self.inner
+                .stake_with_signers(&signers, &accounts, pool_token_amount, balance_id)?;
 
         Ok(StakeResponse { tx })
     }
@@ -333,26 +653,34 @@ impl Client {
             beneficiary,
             spt_amount,
             mega, // TODO: remove.
+            balance_id,
         } = req;
         let pending_withdrawal = Keypair::generate(&mut OsRng);
 
         let r = self.registrar(&registrar)?;
-        let (vault, pool_vault, pool_mint) = {
-            if mega {
-                (r.mega_vault, r.pool_vault_mega, r.pool_mint_mega)
-            } else {
-                (r.vault, r.pool_vault, r.pool_mint)
-            }
+        let m = self.member(&member)?;
+        let b = m
+            .balances
+            .iter()
+            .filter(|b| b.owner == balance_id)
+            .collect::<Vec<&BalanceSandbox>>();
+        let balances = b.first().unwrap();
+
+        let (pool_mint, spt, vault_pw, vault_stake) = match mega {
+            false => (
+                r.pool_mint,
+                balances.spt,
+                balances.vault_pending_withdrawal,
+                balances.vault_stake,
+            ),
+            true => (
+                r.pool_mint_mega,
+                balances.spt_mega,
+                balances.vault_pending_withdrawal_mega,
+                balances.vault_stake_mega,
+            ),
         };
         let vault_authority = self.vault_authority(&registrar)?;
-        let m_acc = self.member(&member)?;
-        let spt = {
-            if mega {
-                m_acc.spt_mega
-            } else {
-                m_acc.spt
-            }
-        };
 
         let accs = vec![
             AccountMeta::new(pending_withdrawal.pubkey(), false),
@@ -361,9 +689,9 @@ impl Client {
             AccountMeta::new_readonly(beneficiary.pubkey(), true),
             AccountMeta::new(entity, false),
             AccountMeta::new_readonly(registrar, false),
-            AccountMeta::new(vault, false),
+            AccountMeta::new(vault_pw, false),
             AccountMeta::new_readonly(vault_authority, false),
-            AccountMeta::new(pool_vault, false),
+            AccountMeta::new(vault_stake, false),
             AccountMeta::new(pool_mint, false),
             AccountMeta::new(spt, false),
             AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
@@ -389,6 +717,7 @@ impl Client {
                 *self.program(),
                 &accs,
                 spt_amount,
+                balance_id,
             );
             [
                 create_pending_withdrawal_instr,
@@ -433,11 +762,32 @@ impl Client {
             beneficiary,
             pending_withdrawal,
         } = req;
+        let m = self.member(&member)?;
+        let pw = self.pending_withdrawal(&pending_withdrawal)?;
+        let b = m
+            .balances
+            .iter()
+            .filter(|b| b.owner == pw.balance_id)
+            .collect::<Vec<&BalanceSandbox>>();
+        let balances = b.first().unwrap();
+
+        let mega = pw.pool == self.registrar(&registrar)?.mega_mint;
+        let (vault, vault_pw) = match mega {
+            false => (balances.vault, balances.vault_pending_withdrawal),
+            true => (balances.vault_mega, balances.vault_pending_withdrawal_mega),
+        };
+
+        let vault_authority = self.vault_authority(&registrar)?;
+
         let accs = vec![
             AccountMeta::new(pending_withdrawal, false),
             AccountMeta::new(member, false),
+            AccountMeta::new(vault, false),
+            AccountMeta::new(vault_pw, false),
+            AccountMeta::new(vault_authority, false),
             AccountMeta::new_readonly(beneficiary.pubkey(), true),
             AccountMeta::new(entity, false),
+            AccountMeta::new_readonly(spl_token::ID, false),
             AccountMeta::new_readonly(registrar, false),
             AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
         ];
@@ -482,6 +832,7 @@ impl Client {
             beneficiary,
             registrar,
         } = req;
+        let m = self.member(&member)?;
         let accs = vec![
             AccountMeta::new(member, false),
             AccountMeta::new_readonly(beneficiary.pubkey(), true),
@@ -489,6 +840,13 @@ impl Client {
             AccountMeta::new(entity, false),
             AccountMeta::new(new_entity, false),
             AccountMeta::new_readonly(solana_sdk::sysvar::clock::ID, false),
+            AccountMeta::new_readonly(self.vault_authority(&registrar)?, false),
+            AccountMeta::new_readonly(m.balances[0].owner, false),
+            AccountMeta::new_readonly(m.balances[0].vault_stake, false),
+            AccountMeta::new_readonly(m.balances[0].vault_stake_mega, false),
+            AccountMeta::new_readonly(m.balances[1].owner, false),
+            AccountMeta::new_readonly(m.balances[1].vault_stake, false),
+            AccountMeta::new_readonly(m.balances[1].vault_stake_mega, false),
         ];
         let tx = self
             .inner
@@ -500,11 +858,11 @@ impl Client {
 // Account accessors.
 impl Client {
     pub fn registrar(&self, registrar: &Pubkey) -> Result<Registrar, ClientError> {
-        rpc::get_account::<Registrar>(self.inner.rpc(), registrar).map_err(Into::into)
+        rpc::get_account::<Registrar>(self.rpc(), registrar).map_err(Into::into)
     }
 
     pub fn entity(&self, entity: &Pubkey) -> Result<Entity, ClientError> {
-        rpc::get_account_unchecked::<Entity>(self.inner.rpc(), entity).map_err(Into::into)
+        rpc::get_account_unchecked::<Entity>(self.rpc(), entity).map_err(Into::into)
     }
     pub fn vault_authority(&self, registrar: &Pubkey) -> Result<Pubkey, ClientError> {
         let r = self.registrar(registrar)?;
@@ -512,43 +870,76 @@ impl Client {
             .map_err(|_| ClientError::Any(anyhow::anyhow!("invalid vault authority")))
     }
     pub fn member(&self, member: &Pubkey) -> Result<Member, ClientError> {
-        rpc::get_account::<Member>(self.inner.rpc(), &member).map_err(Into::into)
+        rpc::get_account::<Member>(self.rpc(), &member).map_err(Into::into)
     }
     pub fn member_seed() -> &'static str {
-        inner::member_seed()
+        "srm:registry:member"
     }
-    pub fn vault_for(&self, registrar: &Pubkey, depositor: &Pubkey) -> Result<Pubkey, ClientError> {
-        let depositor = rpc::get_token_account::<TokenAccount>(self.inner.rpc(), depositor)?;
 
-        let r = self.registrar(&registrar)?;
+    pub fn vault_for(
+        &self,
+        member: &Pubkey,
+        depositor: &Pubkey,
+        locked: bool, // todo use balance_id instead
+    ) -> Result<Pubkey, ClientError> {
+        let depositor = rpc::get_token_account::<TokenAccount>(self.rpc(), depositor)?;
+        let member = self.member(member)?;
+        let balances = match locked {
+            true => &member.balances[1],
+            false => &member.balances[0],
+        };
 
-        let vault = self.current_deposit_vault(registrar)?;
+        let vault = rpc::get_token_account::<TokenAccount>(self.rpc(), &balances.vault)?;
         if vault.mint == depositor.mint {
-            return Ok(r.vault);
+            return Ok(balances.vault);
         }
 
-        let mega_vault = self.current_deposit_mega_vault(registrar)?;
+        let mega_vault = rpc::get_token_account::<TokenAccount>(self.rpc(), &balances.vault_mega)?;
         if mega_vault.mint == depositor.mint {
-            return Ok(r.mega_vault);
+            return Ok(balances.vault_mega);
         }
         Err(ClientError::Any(anyhow::anyhow!("invalid depositor mint")))
     }
-    pub fn current_deposit_vault(&self, registrar: &Pubkey) -> Result<TokenAccount, ClientError> {
-        let r = self.registrar(registrar)?;
-        rpc::get_token_account::<TokenAccount>(self.inner.rpc(), &r.vault).map_err(Into::into)
+
+    pub fn current_deposit_vault(
+        &self,
+        member: &Pubkey,
+        locked: bool,
+    ) -> Result<TokenAccount, ClientError> {
+        let m = self.member(member)?;
+        let balances = match locked {
+            true => &m.balances[1],
+            false => &m.balances[0],
+        };
+        rpc::get_token_account::<TokenAccount>(self.rpc(), &balances.vault).map_err(Into::into)
     }
+
     pub fn current_deposit_mega_vault(
         &self,
-        registrar: &Pubkey,
+        member: &Pubkey,
+        locked: bool,
     ) -> Result<TokenAccount, ClientError> {
-        let r = self.registrar(registrar)?;
-        rpc::get_token_account::<TokenAccount>(self.inner.rpc(), &r.mega_vault).map_err(Into::into)
-    }
-    pub fn pool_token(&self, member: &Pubkey) -> Result<ProgramAccount<TokenAccount>, ClientError> {
         let m = self.member(member)?;
-        let account = rpc::get_token_account(self.inner.rpc(), &m.spt)?;
+        let balances = match locked {
+            true => &m.balances[1],
+            false => &m.balances[0],
+        };
+        rpc::get_token_account::<TokenAccount>(self.rpc(), &balances.vault_mega).map_err(Into::into)
+    }
+
+    pub fn pool_token(
+        &self,
+        member: &Pubkey,
+        locked: bool,
+    ) -> Result<ProgramAccount<TokenAccount>, ClientError> {
+        let m = self.member(member)?;
+        let balances = match locked {
+            true => &m.balances[1],
+            false => &m.balances[0],
+        };
+        let account = rpc::get_token_account(self.rpc(), &balances.spt)?;
         Ok(ProgramAccount {
-            public_key: m.spt_mega,
+            public_key: balances.spt_mega,
             account,
         })
     }
@@ -556,30 +947,64 @@ impl Client {
     pub fn mega_pool_token(
         &self,
         member: &Pubkey,
+        locked: bool,
     ) -> Result<ProgramAccount<TokenAccount>, ClientError> {
         let m = self.member(member)?;
-        let account = rpc::get_token_account(self.inner.rpc(), &m.spt_mega)?;
+        let balances = match locked {
+            true => &m.balances[1],
+            false => &m.balances[0],
+        };
+        let account = rpc::get_token_account(self.rpc(), &balances.spt_mega)?;
         Ok(ProgramAccount {
-            public_key: m.spt_mega,
+            public_key: balances.spt_mega,
             account,
         })
     }
-    pub fn stake_pool_asset_vault(&self, registrar: &Pubkey) -> Result<TokenAccount, ClientError> {
-        let r = self.registrar(registrar)?;
-        rpc::get_token_account::<TokenAccount>(self.inner.rpc(), &r.pool_vault).map_err(Into::into)
+
+    pub fn stake_pool_asset_vault(
+        &self,
+        member: &Pubkey,
+        locked: bool,
+    ) -> Result<TokenAccount, ClientError> {
+        let m = self.member(member)?;
+        let balances = match locked {
+            true => &m.balances[1],
+            false => &m.balances[0],
+        };
+        rpc::get_token_account::<TokenAccount>(self.rpc(), &balances.vault_stake)
+            .map_err(Into::into)
     }
 
-    pub fn stake_mega_pool_asset_vaults(
+    pub fn stake_mega_pool_asset_vault(
         &self,
-        registrar: &Pubkey,
+        member: &Pubkey,
+        locked: bool,
     ) -> Result<TokenAccount, ClientError> {
-        let r = self.registrar(registrar)?;
-        rpc::get_token_account::<TokenAccount>(self.inner.rpc(), &r.pool_vault_mega)
+        let m = self.member(member)?;
+        let balances = match locked {
+            true => &m.balances[1],
+            false => &m.balances[0],
+        };
+        rpc::get_token_account::<TokenAccount>(self.rpc(), &balances.vault_stake_mega)
+            .map_err(Into::into)
+    }
+
+    pub fn pending_withdrawal_vault(
+        &self,
+        member: &Pubkey,
+        locked: bool,
+    ) -> Result<TokenAccount, ClientError> {
+        let m = self.member(member)?;
+        let balances = match locked {
+            true => &m.balances[1],
+            false => &m.balances[0],
+        };
+        rpc::get_token_account::<TokenAccount>(self.rpc(), &balances.vault_pending_withdrawal)
             .map_err(Into::into)
     }
 
     pub fn pending_withdrawal(&self, pw: &Pubkey) -> Result<PendingWithdrawal, ClientError> {
-        rpc::get_account::<PendingWithdrawal>(self.inner.rpc(), pw).map_err(Into::into)
+        rpc::get_account::<PendingWithdrawal>(self.rpc(), pw).map_err(Into::into)
     }
 }
 
@@ -609,22 +1034,92 @@ impl ClientGen for Client {
     }
 }
 
+fn create_metadata_instructions(
+    client: &RpcClient,
+    payer: &Pubkey,
+    metadata: &Keypair,
+    mqueue: &Keypair,
+    program_id: &Pubkey,
+    entity: &Pubkey,
+    name: String,
+    about: String,
+    image_url: String,
+) -> Vec<Instruction> {
+    let md = serum_meta_entity::accounts::Metadata {
+        initialized: false,
+        entity: Pubkey::new_from_array([0; 32]),
+        authority: *payer,
+        name: name.clone(),
+        about: about.clone(),
+        image_url: image_url.clone(),
+        chat: Pubkey::new_from_array([0; 32]),
+    };
+    let metadata_size = md.size().unwrap();
+    let lamports = client
+        .get_minimum_balance_for_rent_exemption(metadata_size as usize)
+        .unwrap();
+    let create_metadata_instr = solana_sdk::system_instruction::create_account(
+        payer,
+        &metadata.pubkey(),
+        lamports,
+        metadata_size as u64,
+        program_id,
+    );
+
+    let mqueue_size = MQueue::buffer_size(MQueue::RING_CAPACITY);
+    let lamports = client
+        .get_minimum_balance_for_rent_exemption(mqueue_size)
+        .unwrap();
+    let create_mqueue_instr = solana_sdk::system_instruction::create_account(
+        payer,
+        &mqueue.pubkey(),
+        lamports,
+        mqueue_size as u64,
+        program_id,
+    );
+
+    let initialize_metadata_instr = {
+        let accounts = vec![AccountMeta::new(metadata.pubkey(), false)];
+        let instr = serum_meta_entity::instruction::MetaEntityInstruction::Initialize {
+            entity: *entity,
+            authority: *payer,
+            name,
+            about,
+            image_url,
+            chat: mqueue.pubkey(),
+        };
+        let mut data = vec![0u8; instr.size().unwrap() as usize];
+        serum_meta_entity::instruction::MetaEntityInstruction::pack(instr, &mut data).unwrap();
+        Instruction {
+            program_id: *program_id,
+            accounts,
+            data,
+        }
+    };
+
+    vec![
+        create_metadata_instr,
+        create_mqueue_instr,
+        initialize_metadata_instr,
+    ]
+}
+
 pub struct InitializeRequest {
     pub registrar_authority: Pubkey,
     pub withdrawal_timelock: i64,
     pub deactivation_timelock: i64,
     pub max_stake_per_entity: u64,
+    pub reward_activation_threshold: u64,
     pub mint: Pubkey,
     pub mega_mint: Pubkey,
-    pub reward_activation_threshold: u64,
+    pub stake_rate: u64,
+    pub stake_rate_mega: u64,
 }
 
 pub struct InitializeResponse {
     pub tx: Signature,
     pub registrar: Pubkey,
     pub reward_event_q: Pubkey,
-    pub pool_vault: Pubkey,
-    pub pool_vault_mega: Pubkey,
     pub nonce: u8,
 }
 
@@ -673,6 +1168,7 @@ pub struct StakeRequest<'a> {
     pub registrar: Pubkey,
     pub pool_token_amount: u64,
     pub mega: bool,
+    pub balance_id: Pubkey,
 }
 
 pub struct StakeResponse {
@@ -713,6 +1209,7 @@ pub struct StartStakeWithdrawalRequest<'a> {
     pub beneficiary: &'a Keypair,
     pub spt_amount: u64,
     pub mega: bool,
+    pub balance_id: Pubkey,
 }
 
 pub struct StartStakeWithdrawalResponse {
@@ -753,3 +1250,14 @@ pub enum ClientError {
     #[error("Any error: {0}")]
     Any(#[from] anyhow::Error),
 }
+
+struct BalanceAccounts {
+    spt: Keypair,
+    spt_mega: Keypair,
+    vault: Keypair,
+    vault_mega: Keypair,
+    vault_stake: Keypair,
+    vault_stake_mega: Keypair,
+    vault_pw: Keypair,
+    vault_pw_mega: Keypair,
+}
diff --git a/registry/meta-entity/program/Cargo.lock b/registry/meta-entity/program/Cargo.lock
index c924b71..8563aa9 100644
--- a/registry/meta-entity/program/Cargo.lock
+++ b/registry/meta-entity/program/Cargo.lock
@@ -37,7 +37,7 @@ version = "0.2.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "hermit-abi 0.1.17 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -53,11 +53,11 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "addr2line 0.14.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "cfg-if 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "miniz_oxide 0.4.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "object 0.22.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc-demangle 0.1.18 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -76,7 +76,7 @@ version = "1.3.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "byteorder 1.3.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -123,7 +123,7 @@ version = "0.7.2"
 source = "git+https://github.com/project-serum/borsh?branch=serum#337732a185f052d5ee0424127b04b89d455ffa81"
 dependencies = [
  "borsh-derive 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -172,7 +172,7 @@ version = "0.11.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "feature-probe 0.1.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -229,7 +229,7 @@ name = "chrono"
 version = "0.4.19"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "num-integer 0.1.44 (registry+https://github.com/rust-lang/crates.io-index)",
  "num-traits 0.2.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "time 0.1.44 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -354,7 +354,7 @@ name = "ed25519"
 version = "1.0.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "signature 1.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -366,7 +366,7 @@ dependencies = [
  "curve25519-dalek 2.1.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "ed25519 1.0.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand 0.7.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "zeroize 1.1.1 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -511,7 +511,7 @@ name = "generic-array"
 version = "0.14.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "typenum 1.12.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "version_check 0.9.2 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -522,7 +522,7 @@ version = "0.1.15"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "wasi 0.9.0+wasi-snapshot-preview1 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -560,7 +560,7 @@ name = "hermit-abi"
 version = "0.1.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -686,7 +686,7 @@ name = "iovec"
 version = "0.1.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -712,7 +712,7 @@ name = "jobserver"
 version = "0.1.21"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -747,7 +747,7 @@ dependencies = [
 
 [[package]]
 name = "libc"
-version = "0.2.80"
+version = "0.2.81"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
@@ -801,7 +801,7 @@ name = "memmap"
 version = "0.7.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -838,7 +838,7 @@ dependencies = [
 
 [[package]]
 name = "mio"
-version = "0.6.22"
+version = "0.6.23"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -846,7 +846,7 @@ dependencies = [
  "fuchsia-zircon-sys 0.3.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
  "kernel32-sys 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
  "miow 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "net2 0.2.36 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -860,8 +860,8 @@ version = "0.6.8"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -881,7 +881,7 @@ version = "0.2.36"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -918,7 +918,7 @@ version = "1.13.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "hermit-abi 0.1.17 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -978,7 +978,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
  "cloudabi 0.0.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "redox_syscall 0.1.57 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "smallvec 0.6.13 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1116,7 +1116,7 @@ version = "0.7.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "getrandom 0.1.15 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_chacha 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_core 0.5.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_hc 0.2.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1199,8 +1199,8 @@ dependencies = [
  "percent-encoding 2.1.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "pin-project-lite 0.2.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustls 0.18.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_json 1.0.59 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_json 1.0.60 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_urlencoded 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio 0.2.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-rustls 0.14.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1220,7 +1220,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cc 1.0.49 (registry+https://github.com/rust-lang/crates.io-index)",
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "spin 0.5.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "untrusted 0.7.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "web-sys 0.3.46 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1296,10 +1296,10 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
 name = "serde"
-version = "1.0.117"
+version = "1.0.118"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1307,12 +1307,12 @@ name = "serde_bytes"
 version = "0.11.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.117"
+version = "1.0.118"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1322,12 +1322,12 @@ dependencies = [
 
 [[package]]
 name = "serde_json"
-version = "1.0.59"
+version = "1.0.60"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "itoa 0.4.6 (registry+https://github.com/rust-lang/crates.io-index)",
  "ryu 1.0.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1338,7 +1338,7 @@ dependencies = [
  "form_urlencoded 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "itoa 0.4.6 (registry+https://github.com/rust-lang/crates.io-index)",
  "ryu 1.0.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -1347,8 +1347,8 @@ version = "0.1.0"
 dependencies = [
  "arrayref 0.3.6 (registry+https://github.com/rust-lang/crates.io-index)",
  "borsh 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1372,8 +1372,8 @@ version = "0.1.0"
 dependencies = [
  "serum-common 0.1.0",
  "serum-meta-entity 0.1.0",
- "solana-program 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1423,7 +1423,7 @@ version = "0.3.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "redox_syscall 0.1.57 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -1434,13 +1434,13 @@ version = "0.1.0"
 dependencies = [
  "bincode 1.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "serum-common 0.1.0",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-crate-features"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "backtrace 0.3.55 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1450,11 +1450,11 @@ dependencies = [
  "ed25519-dalek 1.0.0-pre.4 (registry+https://github.com/rust-lang/crates.io-index)",
  "either 1.6.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_chacha 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "regex-syntax 0.6.21 (registry+https://github.com/rust-lang/crates.io-index)",
  "reqwest 0.10.9 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "syn 0.15.44 (registry+https://github.com/rust-lang/crates.io-index)",
  "syn 1.0.53 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio 0.1.22 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1463,7 +1463,7 @@ dependencies = [
 
 [[package]]
 name = "solana-frozen-abi"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bs58 0.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1472,17 +1472,17 @@ dependencies = [
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
  "memmap 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-logger 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-frozen-abi-macro"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1494,7 +1494,7 @@ dependencies = [
 
 [[package]]
 name = "solana-logger"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "env_logger 0.7.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1504,7 +1504,7 @@ dependencies = [
 
 [[package]]
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-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bincode 1.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1520,20 +1520,20 @@ dependencies = [
  "rand 0.7.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-logger 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
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 [[package]]
 name = "solana-sdk"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "assert_matches 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1559,24 +1559,24 @@ dependencies = [
  "rand_chacha 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_json 1.0.59 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_json 1.0.60 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha3 0.9.1 (registry+https://github.com/rust-lang/crates.io-index)",
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- "solana-logger 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-program 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-crate-features 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
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 [[package]]
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@@ -1601,7 +1601,7 @@ dependencies = [
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- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -1685,7 +1685,7 @@ name = "time"
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 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
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@@ -1710,7 +1710,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
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  "futures 0.1.30 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
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  "tokio-codec 0.1.2 (registry+https://github.com/rust-lang/crates.io-index)",
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@@ -1737,7 +1737,7 @@ dependencies = [
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  "memchr 2.3.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
  "num_cpus 1.13.0 (registry+https://github.com/rust-lang/crates.io-index)",
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  "slab 0.4.2 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1800,7 +1800,7 @@ dependencies = [
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  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
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  "slab 0.4.2 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1837,7 +1837,7 @@ dependencies = [
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  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
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@@ -1877,7 +1877,7 @@ dependencies = [
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  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
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  "tokio-io 0.1.13 (registry+https://github.com/rust-lang/crates.io-index)",
  "tokio-reactor 0.1.12 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -1891,9 +1891,9 @@ dependencies = [
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  "iovec 0.1.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
- "mio 0.6.22 (registry+https://github.com/rust-lang/crates.io-index)",
+ "mio 0.6.23 (registry+https://github.com/rust-lang/crates.io-index)",
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@@ -1918,7 +1918,7 @@ name = "toml"
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 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -2044,8 +2044,8 @@ version = "0.2.69"
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@@ -2313,7 +2313,7 @@ dependencies = [
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@@ -2325,7 +2325,7 @@ dependencies = [
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@@ -2379,10 +2379,10 @@ dependencies = [
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 "checksum spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)" = "eaa27ab75067c63b8804d9fff30bd2e8bfb5be448bea8067ed768381e70ca181"
 "checksum subtle 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)" = "2d67a5a62ba6e01cb2192ff309324cb4875d0c451d55fe2319433abe7a05a8ee"
diff --git a/registry/meta-entity/program/src/lib.rs b/registry/meta-entity/program/src/lib.rs
index c417b1b..ec44074 100644
--- a/registry/meta-entity/program/src/lib.rs
+++ b/registry/meta-entity/program/src/lib.rs
@@ -36,8 +36,8 @@ fn entry(program_id: &Pubkey, accounts: &[AccountInfo], instruction_data: &[u8])
             chat,
             image_url,
         } => update::handler(program_id, accounts, name, about, image_url, chat),
-        MetaEntityInstruction::SendMessage { data } => {
-            send_message::handler(program_id, accounts, data)
+        MetaEntityInstruction::SendMessage { msg } => {
+            send_message::handler(program_id, accounts, msg)
         }
     };
 
diff --git a/registry/meta-entity/program/src/send_message.rs b/registry/meta-entity/program/src/send_message.rs
index d6c08f1..494a049 100644
--- a/registry/meta-entity/program/src/send_message.rs
+++ b/registry/meta-entity/program/src/send_message.rs
@@ -1,4 +1,5 @@
-use serum_meta_entity::accounts::MQueue;
+use serum_meta_entity::accounts::mqueue::Ring;
+use serum_meta_entity::accounts::{MQueue, Message};
 use serum_meta_entity::error::MetaEntityError;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::info;
@@ -7,7 +8,7 @@ use solana_sdk::pubkey::Pubkey;
 pub fn handler(
     _program_id: &Pubkey,
     accounts: &[AccountInfo],
-    data: Vec<u8>,
+    msg: Message,
 ) -> Result<(), MetaEntityError> {
     info!("handler: send_message");
     let acc_infos = &mut accounts.iter();
@@ -15,7 +16,7 @@ pub fn handler(
     let mqueue_acc_info = next_account_info(acc_infos)?;
     let mqueue = MQueue::from(mqueue_acc_info.data.clone());
 
-    mqueue.append(data)?;
+    mqueue.append(&msg)?;
 
     Ok(())
 }
diff --git a/registry/meta-entity/src/accounts/mod.rs b/registry/meta-entity/src/accounts/mod.rs
index 2c8dd95..dd5e8e4 100644
--- a/registry/meta-entity/src/accounts/mod.rs
+++ b/registry/meta-entity/src/accounts/mod.rs
@@ -2,4 +2,4 @@ pub mod metadata;
 pub mod mqueue;
 
 pub use metadata::Metadata;
-pub use mqueue::MQueue;
+pub use mqueue::{MQueue, Message};
diff --git a/registry/meta-entity/src/accounts/mqueue.rs b/registry/meta-entity/src/accounts/mqueue.rs
index f91f5cc..9084087 100644
--- a/registry/meta-entity/src/accounts/mqueue.rs
+++ b/registry/meta-entity/src/accounts/mqueue.rs
@@ -1,166 +1,39 @@
-use crate::error::{MetaEntityError, MetaEntityErrorCode};
-use arrayref::array_mut_ref;
-use borsh::{BorshDeserialize, BorshSerialize};
+use borsh::{BorshDeserialize, BorshSchema, BorshSerialize};
 use serum_common::pack::*;
-use solana_client_gen::solana_sdk::account_info::AccountInfo;
 use solana_client_gen::solana_sdk::pubkey::Pubkey;
-#[cfg(feature = "program")]
-use solana_sdk::info;
 use std::cell::RefCell;
-use std::convert::Into;
 use std::rc::Rc;
 
-#[cfg(not(feature = "program"))]
-macro_rules! info {
-    ($($i:expr),*) => { { ($($i),*) } };
-}
+// Size of each entry in the ring buffer.
+const RING_ITEM_SIZE: u32 = 320;
 
-// TODO: make head and tail monotonically increasing instead of resetting at 0.
+// Generate the Ring trait.
+serum_common::ring!(RING_ITEM_SIZE);
 
-// Message queue as ring buffer.
-//
-// Data layout:
-//
-// HEAD (u32) || TAIL (u32) || <MESSAGE_0> || <MESSAGE_1> || ... <MESSAGE_N>
 pub struct MQueue<'a> {
     pub storage: Rc<RefCell<&'a mut [u8]>>,
 }
 
 impl<'a> MQueue<'a> {
-    // Data storage index at which the messages start.
-    pub const MESSAGE_START: u32 = 8;
-
-    // 280 + 32 + 8.
-    //
-    // Ends up being 236 chars wtih borsh overhead.
-    pub const MESSAGE_SIZE: u32 = 320;
-
-    // Max number of messages in the queue before overwriting the tail.
-    pub const MAX_MESSAGES: u32 = 500;
-
-    // Byte size of the entire account.
-    pub const SIZE: usize = (MQueue::MESSAGE_SIZE as usize * MQueue::MAX_MESSAGES as usize)
-        + MQueue::MESSAGE_START as usize;
+    pub const RING_CAPACITY: u32 = 500;
 
     pub fn from(storage: Rc<RefCell<&'a mut [u8]>>) -> Self {
         Self { storage }
     }
+}
 
-    pub fn append(&self, mut data: Vec<u8>) -> Result<(), MetaEntityError> {
-        if data.len() > MQueue::MESSAGE_SIZE as usize {
-            return Err(MetaEntityErrorCode::InvalidMessageSize)?;
-        }
-        let head = self.head()?;
-        let tail = self.tail()?;
+impl<'a> Ring<'a> for MQueue<'a> {
+    type Item = Message;
 
-        // Scope into a block so that the refcell is dropped.
-        {
-            let head_idx = (head * MQueue::MESSAGE_SIZE + MQueue::MESSAGE_START) as usize;
-            let mut acc_data = self.storage.borrow_mut();
-            let dst = array_mut_ref![acc_data, head_idx, MQueue::MESSAGE_SIZE as usize];
-            data.resize(MQueue::MESSAGE_SIZE as usize, 0);
-            dst.copy_from_slice(&data);
-        }
-        // If full, then move the tail as well.
-        if (head + 1) % MQueue::MAX_MESSAGES == tail {
-            self.increment_tail();
-        }
-        self.increment_head();
-
-        Ok(())
+    fn buffer(&self) -> Rc<RefCell<&'a mut [u8]>> {
+        self.storage.clone()
     }
-
-    pub fn messages_rev(&self) -> Result<Vec<Message>, MetaEntityError> {
-        let data = self.storage.borrow();
-        let head = self.head()?;
-        let tail = self.tail()?;
-
-        // Empty.
-        if head == tail {
-            return Ok(vec![]);
-        }
-
-        let mut msgs = vec![];
-        let mut last = head;
-        while tail != last {
-            if last == 0 {
-                last = MQueue::MAX_MESSAGES - 1;
-            } else {
-                last -= 1;
-            }
-
-            let start = (last * MQueue::MESSAGE_SIZE + MQueue::MESSAGE_START) as usize;
-            let end = start + MQueue::MESSAGE_SIZE as usize;
-
-            let m = Message::unpack_unchecked(&mut &data[start..end])?;
-            msgs.push(m);
-        }
-
-        Ok(msgs)
-    }
-
-    pub fn message_at(&self, cursor: u32) -> Result<Message, MetaEntityError> {
-        let data = self.storage.borrow();
-        let mut dst = [0u8; MQueue::MESSAGE_SIZE as usize];
-        let start = (MQueue::MESSAGE_START + cursor * MQueue::MESSAGE_SIZE) as usize;
-        let end = start + MQueue::MESSAGE_SIZE as usize;
-        dst.copy_from_slice(&data[start..end]);
-        let mut dst_slice: &[u8] = &dst;
-        Message::unpack_unchecked(&mut dst_slice).map_err(Into::into)
-    }
-
-    fn head(&self) -> Result<u32, MetaEntityError> {
-        let data = self.storage.borrow();
-        let mut dst = [0u8; 4];
-        dst.copy_from_slice(&data[..4]);
-        Ok(u32::from_le_bytes(dst))
-    }
-
-    fn tail(&self) -> Result<u32, MetaEntityError> {
-        let data = self.storage.borrow();
-        let mut dst = [0u8; 4];
-        dst.copy_from_slice(&data[4..8]);
-        Ok(u32::from_le_bytes(dst))
-    }
-
-    fn increment_head(&self) -> Result<(), MetaEntityError> {
-        let mut head = self.head()?;
-        if head == MQueue::MAX_MESSAGES - 1 {
-            head = 0;
-        } else {
-            head += 1;
-        }
-        self.set_head(head)?;
-        Ok(())
-    }
-
-    fn increment_tail(&self) -> Result<(), MetaEntityError> {
-        let mut tail = self.tail()?;
-        if tail == MQueue::MAX_MESSAGES - 1 {
-            tail = 0;
-        } else {
-            tail += 1;
-        }
-        self.set_tail(tail)?;
-        Ok(())
-    }
-
-    fn set_head(&self, head: u32) -> Result<(), MetaEntityError> {
-        let mut data = self.storage.borrow_mut();
-        let dst = array_mut_ref![data, 0, 4];
-        dst.copy_from_slice(&head.to_le_bytes());
-        Ok(())
-    }
-
-    fn set_tail(&self, tail: u32) -> Result<(), MetaEntityError> {
-        let mut data = self.storage.borrow_mut();
-        let dst = array_mut_ref![data, 4, 4];
-        dst.copy_from_slice(&tail.to_le_bytes());
-        Ok(())
+    fn capacity(&self) -> u32 {
+        MQueue::RING_CAPACITY
     }
 }
 
-#[derive(Debug, BorshSerialize, BorshDeserialize, PartialEq)]
+#[derive(Debug, BorshSerialize, BorshDeserialize, BorshSchema, PartialEq)]
 pub struct Message {
     from: Pubkey,
     ts: i64,
@@ -168,68 +41,3 @@ pub struct Message {
 }
 
 serum_common::packable!(Message);
-
-#[cfg(test)]
-mod tests {
-    use super::*;
-    #[test]
-    fn mqueue() {
-        let mut data: &mut [u8] = &mut vec![0u8; MQueue::SIZE];
-        let storage = Rc::new(RefCell::new(data));
-        let mqueue = MQueue::from(storage);
-        let mut messages = vec![];
-
-        // First pass: fill the message queue.
-        for k in 0u32..MQueue::MAX_MESSAGES - 1 {
-            let m = Message {
-                from: Pubkey::new_rand(),
-                ts: k as i64,
-                content: "hello world".to_string(),
-            };
-            mqueue.append(m.try_to_vec().unwrap());
-            messages.insert(0, m);
-
-            assert_eq!(mqueue.messages_rev().unwrap(), messages);
-            assert_eq!(mqueue.tail().unwrap(), 0);
-            assert_eq!(mqueue.head().unwrap(), k + 1);
-        }
-
-        // Buffer is now full. Adding more will overwrite previous messages.
-        // Head is always one behind the tail now, so technically we waste
-        // a slot.
-        assert_eq!(mqueue.tail().unwrap(), 0);
-        assert_eq!(mqueue.head().unwrap(), MQueue::MAX_MESSAGES - 1);
-
-        // Insert one to begin the wrap.
-        let m = Message {
-            from: Pubkey::new_rand(),
-            ts: 0,
-            content: "hello world".to_string(),
-        };
-        mqueue.append(m.try_to_vec().unwrap());
-        messages.pop();
-        messages.insert(0, m);
-        assert_eq!(mqueue.messages_rev().unwrap(), messages);
-        assert_eq!(mqueue.tail().unwrap(), 1);
-        assert_eq!(mqueue.head().unwrap(), 0);
-
-        // Do another pass, overwriting all previous messages.
-        for k in 0u32..MQueue::MAX_MESSAGES {
-            let m = Message {
-                from: Pubkey::new_rand(),
-                ts: k as i64,
-                content: "hello world".to_string(),
-            };
-            mqueue.append(m.try_to_vec().unwrap());
-            messages.pop();
-            messages.insert(0, m);
-            assert_eq!(mqueue.messages_rev().unwrap(), messages);
-            assert_eq!(mqueue.tail().unwrap(), (k + 2) % MQueue::MAX_MESSAGES);
-            assert_eq!(mqueue.head().unwrap(), (k + 1) % MQueue::MAX_MESSAGES);
-        }
-
-        // Back where we started.
-        assert_eq!(mqueue.tail().unwrap(), 1);
-        assert_eq!(mqueue.head().unwrap(), 0);
-    }
-}
diff --git a/registry/meta-entity/src/lib.rs b/registry/meta-entity/src/lib.rs
index 200fed5..3d0f5af 100644
--- a/registry/meta-entity/src/lib.rs
+++ b/registry/meta-entity/src/lib.rs
@@ -28,7 +28,7 @@ pub mod instruction {
             chat: Option<Pubkey>,
         },
         SendMessage {
-            data: Vec<u8>,
+            msg: accounts::Message,
         },
     }
 }
diff --git a/registry/program/Cargo.lock b/registry/program/Cargo.lock
index a714b6a..f5c432b 100644
--- a/registry/program/Cargo.lock
+++ b/registry/program/Cargo.lock
@@ -19,7 +19,7 @@ version = "0.2.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "hermit-abi 0.1.17 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -34,7 +34,7 @@ version = "1.3.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "byteorder 1.3.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -62,7 +62,7 @@ version = "0.7.2"
 source = "git+https://github.com/project-serum/borsh?branch=serum#337732a185f052d5ee0424127b04b89d455ffa81"
 dependencies = [
  "borsh-derive 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -106,7 +106,7 @@ version = "0.11.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "feature-probe 0.1.1 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -208,7 +208,7 @@ name = "generic-array"
 version = "0.14.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "typenum 1.12.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "version_check 0.9.2 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
@@ -219,7 +219,7 @@ version = "0.1.15"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "cfg-if 0.1.10 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "wasi 0.9.0+wasi-snapshot-preview1 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -228,7 +228,7 @@ name = "hermit-abi"
 version = "0.1.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -268,7 +268,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
 name = "libc"
-version = "0.2.80"
+version = "0.2.81"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
@@ -289,7 +289,7 @@ name = "memmap"
 version = "0.7.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "winapi 0.3.9 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -385,7 +385,7 @@ version = "0.7.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "getrandom 0.1.15 (registry+https://github.com/rust-lang/crates.io-index)",
- "libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)",
+ "libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_chacha 0.2.2 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_core 0.5.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "rand_hc 0.2.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -468,10 +468,10 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 
 [[package]]
 name = "serde"
-version = "1.0.117"
+version = "1.0.118"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -479,12 +479,12 @@ name = "serde_bytes"
 version = "0.11.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.117"
+version = "1.0.118"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "proc-macro2 1.0.24 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -498,8 +498,8 @@ version = "0.1.0"
 dependencies = [
  "arrayref 0.3.6 (registry+https://github.com/rust-lang/crates.io-index)",
  "borsh 0.7.2 (git+https://github.com/project-serum/borsh?branch=serum)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -539,8 +539,8 @@ dependencies = [
  "serum-common 0.1.0",
  "serum-lockup 0.1.0",
  "serum-registry 0.1.0",
- "solana-program 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -561,13 +561,13 @@ version = "0.1.0"
 dependencies = [
  "bincode 1.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "serum-common 0.1.0",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-frozen-abi"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bs58 0.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -576,17 +576,17 @@ dependencies = [
  "log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)",
  "memmap 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-logger 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-frozen-abi-macro"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -598,7 +598,7 @@ dependencies = [
 
 [[package]]
 name = "solana-logger"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "env_logger 0.7.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -608,7 +608,7 @@ dependencies = [
 
 [[package]]
 name = "solana-program"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bincode 1.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -624,20 +624,20 @@ dependencies = [
  "rand 0.7.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-logger 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-sdk"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bincode 1.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -653,20 +653,20 @@ dependencies = [
  "pbkdf2 0.3.0 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustc_version 0.2.3 (registry+https://github.com/rust-lang/crates.io-index)",
  "rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)",
- "serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
  "sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-frozen-abi-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-program 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
 name = "solana-sdk-macro"
-version = "1.4.13"
+version = "1.4.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
  "bs58 0.3.1 (registry+https://github.com/rust-lang/crates.io-index)",
@@ -686,7 +686,7 @@ dependencies = [
  "num-traits 0.2.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "num_enum 0.5.1 (registry+https://github.com/rust-lang/crates.io-index)",
  "remove_dir_all 0.5.0 (registry+https://github.com/rust-lang/crates.io-index)",
- "solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)",
+ "solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)",
  "thiserror 1.0.22 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
@@ -749,7 +749,7 @@ name = "toml"
 version = "0.5.7"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 dependencies = [
- "serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)",
+ "serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)",
 ]
 
 [[package]]
@@ -839,7 +839,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 "checksum humantime 1.3.0 (registry+https://github.com/rust-lang/crates.io-index)" = "df004cfca50ef23c36850aaaa59ad52cc70d0e90243c3c7737a4dd32dc7a3c4f"
 "checksum itertools 0.9.0 (registry+https://github.com/rust-lang/crates.io-index)" = "284f18f85651fe11e8a991b2adb42cb078325c996ed026d994719efcfca1d54b"
 "checksum lazy_static 1.4.0 (registry+https://github.com/rust-lang/crates.io-index)" = "e2abad23fbc42b3700f2f279844dc832adb2b2eb069b2df918f455c4e18cc646"
-"checksum libc 0.2.80 (registry+https://github.com/rust-lang/crates.io-index)" = "4d58d1b70b004888f764dfbf6a26a3b0342a1632d33968e4a179d8011c760614"
+"checksum libc 0.2.81 (registry+https://github.com/rust-lang/crates.io-index)" = "1482821306169ec4d07f6aca392a4681f66c75c9918aa49641a2595db64053cb"
 "checksum log 0.4.11 (registry+https://github.com/rust-lang/crates.io-index)" = "4fabed175da42fed1fa0746b0ea71f412aa9d35e76e95e59b192c64b9dc2bf8b"
 "checksum memchr 2.3.4 (registry+https://github.com/rust-lang/crates.io-index)" = "0ee1c47aaa256ecabcaea351eae4a9b01ef39ed810004e298d2511ed284b1525"
 "checksum memmap 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)" = "6585fd95e7bb50d6cc31e20d4cf9afb4e2ba16c5846fc76793f11218da9c475b"
@@ -865,16 +865,16 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 "checksum rustversion 1.0.4 (registry+https://github.com/rust-lang/crates.io-index)" = "cb5d2a036dc6d2d8fd16fde3498b04306e29bd193bf306a57427019b823d5acd"
 "checksum semver 0.9.0 (registry+https://github.com/rust-lang/crates.io-index)" = "1d7eb9ef2c18661902cc47e535f9bc51b78acd254da71d375c2f6720d9a40403"
 "checksum semver-parser 0.7.0 (registry+https://github.com/rust-lang/crates.io-index)" = "388a1df253eca08550bef6c72392cfe7c30914bf41df5269b68cbd6ff8f570a3"
-"checksum serde 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)" = "b88fa983de7720629c9387e9f517353ed404164b1e482c970a90c1a4aaf7dc1a"
+"checksum serde 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)" = "06c64263859d87aa2eb554587e2d23183398d617427327cf2b3d0ed8c69e4800"
 "checksum serde_bytes 0.11.5 (registry+https://github.com/rust-lang/crates.io-index)" = "16ae07dd2f88a366f15bd0632ba725227018c69a1c8550a927324f8eb8368bb9"
-"checksum serde_derive 1.0.117 (registry+https://github.com/rust-lang/crates.io-index)" = "cbd1ae72adb44aab48f325a02444a5fc079349a8d804c1fc922aed3f7454c74e"
+"checksum serde_derive 1.0.118 (registry+https://github.com/rust-lang/crates.io-index)" = "c84d3526699cd55261af4b941e4e725444df67aa4f9e6a3564f18030d12672df"
 "checksum sha2 0.8.2 (registry+https://github.com/rust-lang/crates.io-index)" = "a256f46ea78a0c0d9ff00077504903ac881a1dafdc20da66545699e7776b3e69"
-"checksum solana-frozen-abi 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)" = "4045fd99e316de4adbb56e00fd77d33f967c2abdc2e7b55135fb6c62aeec66bf"
-"checksum solana-frozen-abi-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)" = "7dd60ef025b6f0c6313eb6881a5404e7762a5ec2f5c7ed9619f7822497a75893"
-"checksum solana-logger 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)" = "7e7a3dea8ebbc7f9dbf14769de133698f4c8e5b6f5ef9f64413448fabf99b3b8"
-"checksum solana-program 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)" = "30cda72e46a55252daf389774c7bf20fa5fa33007ccfae0539232941d4dbd3c4"
-"checksum solana-sdk 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)" = "342803d2815702cb08f69337a757507680a5d0770c49400c305159f12adab153"
-"checksum solana-sdk-macro 1.4.13 (registry+https://github.com/rust-lang/crates.io-index)" = "4ccc308a3cd4793dfc02fdccedd60a5aaba2b4909ae9bce36994dafaf90278a2"
+"checksum solana-frozen-abi 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "9e5ab6ad3dda6a3d95d19603eeedc65689d8125eafb3e23c6a1e01ab8a6ba60c"
+"checksum solana-frozen-abi-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "ffaa09aa938a67501479ed8a785071c6993f72c34e43f680db3ea7a2dadad9e7"
+"checksum solana-logger 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "0d949157d0b23eaf5758b427d90741d2a90751c4e3dfee028f5726ab8b36e769"
+"checksum solana-program 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "8e9c6cb16e8aa986bc0d2af8ec50628f7451bef9dac89924adf48302bd4fc755"
+"checksum solana-sdk 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "85c38a02d501422070cd6a4d561b4ab1408e311c5a0b5af3a7bb01246da14f66"
+"checksum solana-sdk-macro 1.4.14 (registry+https://github.com/rust-lang/crates.io-index)" = "475a680cd175f2e256452e007c6f8622d3a1ab97ab36d26303b35576e24f340c"
 "checksum spl-token 2.0.8 (registry+https://github.com/rust-lang/crates.io-index)" = "eaa27ab75067c63b8804d9fff30bd2e8bfb5be448bea8067ed768381e70ca181"
 "checksum subtle 1.0.0 (registry+https://github.com/rust-lang/crates.io-index)" = "2d67a5a62ba6e01cb2192ff309324cb4875d0c451d55fe2319433abe7a05a8ee"
 "checksum subtle 2.3.0 (registry+https://github.com/rust-lang/crates.io-index)" = "343f3f510c2915908f155e94f17220b19ccfacf2a64a2a5d8004f2c3e311e7fd"
diff --git a/registry/program/src/claim_locked_reward.rs b/registry/program/src/claim_locked_reward.rs
index 61ec677..5ddc421 100644
--- a/registry/program/src/claim_locked_reward.rs
+++ b/registry/program/src/claim_locked_reward.rs
@@ -1,13 +1,14 @@
 use serum_common::pack::Pack;
 use serum_lockup::instruction::LockupInstruction;
 use serum_registry::access_control;
-use serum_registry::accounts::{EntityState, LockedRewardVendor, Member, Registrar};
+use serum_registry::accounts::{EntityState, LockedRewardVendor, Member};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::instruction::{AccountMeta, Instruction};
 use solana_sdk::pubkey::Pubkey;
 use solana_sdk::sysvar;
+use spl_token::state::Account as TokenAccount;
 
 #[inline(never)]
 pub fn handler(
@@ -16,7 +17,7 @@ pub fn handler(
     cursor: u32,
     nonce: u8,
 ) -> Result<(), RegistryError> {
-    info!("handler: claim_locked_reward");
+    msg!("handler: claim_locked_reward");
 
     let acc_infos = &mut accounts.iter();
 
@@ -34,9 +35,15 @@ pub fn handler(
     let rent_acc_info = next_account_info(acc_infos)?;
     let clock_acc_info = next_account_info(acc_infos)?;
 
+    let mut spt_acc_infos = vec![];
+    while acc_infos.len() > 0 {
+        spt_acc_infos.push(next_account_info(acc_infos)?);
+    }
+
     let AccessControlResponse {
-        ref registrar,
         ref vendor,
+        ref spts,
+        ref clock,
     } = access_control(AccessControlRequest {
         program_id,
         registrar_acc_info,
@@ -44,6 +51,8 @@ pub fn handler(
         member_acc_info,
         vendor_acc_info,
         cursor,
+        spt_acc_infos,
+        clock_acc_info,
     })?;
 
     Member::unpack_mut(
@@ -54,7 +63,6 @@ pub fn handler(
                 nonce,
                 member,
                 vendor,
-                registrar,
                 registrar_acc_info,
                 vendor_acc_info,
                 vendor_vault_authority_acc_info,
@@ -66,6 +74,8 @@ pub fn handler(
                 token_program_acc_info,
                 rent_acc_info,
                 clock_acc_info,
+                clock,
+                spts,
             })
             .map_err(Into::into)
         },
@@ -75,7 +85,7 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: claim_locked_reward");
+    msg!("access-control: claim_locked_reward");
 
     let AccessControlRequest {
         program_id,
@@ -84,12 +94,15 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         entity_acc_info,
         member_acc_info,
         vendor_acc_info,
+        spt_acc_infos,
+        clock_acc_info,
     } = req;
 
     // Authorization: none required. This operation is purely beneficial for
     //                the member account.
 
     // Account validation.
+    let clock = access_control::clock(clock_acc_info)?;
     let registrar = access_control::registrar(registrar_acc_info, program_id)?;
     let entity = access_control::entity(entity_acc_info, registrar_acc_info, program_id)?;
     let member = access_control::member_belongs_to(
@@ -100,6 +113,23 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     )?;
     let vendor =
         access_control::locked_reward_vendor(vendor_acc_info, registrar_acc_info, program_id)?;
+    let is_mega = vendor.pool == registrar.pool_mint_mega;
+    let spts = spt_acc_infos
+        .iter()
+        .enumerate()
+        .map(|(idx, spt_acc_info)| {
+            if is_mega {
+                if &member.balances[idx].spt_mega != spt_acc_info.key {
+                    return Err(RegistryErrorCode::InvalidSpt)?;
+                }
+            } else {
+                if &member.balances[idx].spt != spt_acc_info.key {
+                    return Err(RegistryErrorCode::InvalidSpt)?;
+                }
+            }
+            access_control::token_account(spt_acc_info)
+        })
+        .collect::<Result<_, _>>()?;
 
     // ClaimLockedReward specific.
     //
@@ -120,11 +150,15 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         return Err(RegistryErrorCode::EntityNotActivated)?;
     }
 
-    Ok(AccessControlResponse { registrar, vendor })
+    Ok(AccessControlResponse {
+        vendor,
+        spts,
+        clock,
+    })
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: claim_locked_reward");
+    msg!("state-transition: claim_locked_reward");
 
     let StateTransitionRequest {
         cursor,
@@ -133,7 +167,6 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
         safe_acc_info,
         lockup_program_acc_info,
         vendor_vault_authority_acc_info,
-        registrar,
         registrar_acc_info,
         vendor_acc_info,
         vesting_acc_info,
@@ -143,66 +176,73 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
         rent_acc_info,
         clock_acc_info,
         nonce,
+        spts,
+        clock,
     } = req;
 
     // Create vesting account with proportion of the reward.
-    let spt = {
-        if vendor.pool == registrar.pool_vault {
-            member.balances.spt_amount
-        } else {
-            member.balances.spt_mega_amount
-        }
-    };
-    let amount = spt
+    let spt_total = spts.iter().map(|a| a.amount).fold(0, |a, b| a + b);
+    let amount = spt_total
         .checked_div(vendor.pool_token_supply)
         .unwrap()
         .checked_mul(vendor.total)
         .unwrap();
-    let ix = {
-        let instr = LockupInstruction::CreateVesting {
-            beneficiary: member.beneficiary,
-            end_ts: vendor.end_ts,
-            period_count: vendor.period_count,
-            deposit_amount: amount,
-            nonce,
-        };
-        let mut data = vec![0u8; instr.size()? as usize];
-        LockupInstruction::pack(instr, &mut data)?;
-        Instruction {
-            program_id: *lockup_program_acc_info.key,
-            accounts: vec![
-                AccountMeta::new(*vesting_acc_info.key, false),
-                AccountMeta::new(vendor.vault, false),
-                AccountMeta::new_readonly(*vendor_vault_authority_acc_info.key, true),
-                AccountMeta::new(*vesting_vault_acc_info.key, false),
-                AccountMeta::new_readonly(*safe_acc_info.key, false),
-                AccountMeta::new_readonly(spl_token::ID, false),
-                AccountMeta::new_readonly(sysvar::rent::ID, false),
-                AccountMeta::new_readonly(sysvar::clock::ID, false),
-            ],
-            data,
+    // Lockup program requires the timestamp to be <= clock's timestamp.
+    // So update if the time has already passed.
+    let end_ts = {
+        if vendor.end_ts <= clock.unix_timestamp + 60 {
+            clock.unix_timestamp + 60
+        } else {
+            vendor.end_ts
         }
     };
-    let signer_seeds = &[
-        registrar_acc_info.key.as_ref(),
-        vendor_acc_info.key.as_ref(),
-        &[vendor.nonce],
-    ];
-    solana_sdk::program::invoke_signed(
-        &ix,
-        &[
-            vesting_acc_info.clone(),
-            vendor_vault_acc_info.clone(),
-            vendor_vault_authority_acc_info.clone(),
-            vesting_vault_acc_info.clone(),
-            safe_acc_info.clone(),
-            token_program_acc_info.clone(),
-            rent_acc_info.clone(),
-            clock_acc_info.clone(),
-            lockup_program_acc_info.clone(),
-        ],
-        &[signer_seeds],
-    )?;
+    if amount > 0 {
+        let ix = {
+            let instr = LockupInstruction::CreateVesting {
+                beneficiary: member.beneficiary,
+                end_ts,
+                period_count: vendor.period_count,
+                deposit_amount: amount,
+                nonce,
+            };
+            let mut data = vec![0u8; instr.size()? as usize];
+            LockupInstruction::pack(instr, &mut data)?;
+            Instruction {
+                program_id: *lockup_program_acc_info.key,
+                accounts: vec![
+                    AccountMeta::new(*vesting_acc_info.key, false),
+                    AccountMeta::new(vendor.vault, false),
+                    AccountMeta::new_readonly(*vendor_vault_authority_acc_info.key, true),
+                    AccountMeta::new(*vesting_vault_acc_info.key, false),
+                    AccountMeta::new_readonly(*safe_acc_info.key, false),
+                    AccountMeta::new_readonly(spl_token::ID, false),
+                    AccountMeta::new_readonly(sysvar::rent::ID, false),
+                    AccountMeta::new_readonly(sysvar::clock::ID, false),
+                ],
+                data,
+            }
+        };
+        let signer_seeds = &[
+            registrar_acc_info.key.as_ref(),
+            vendor_acc_info.key.as_ref(),
+            &[vendor.nonce],
+        ];
+        solana_sdk::program::invoke_signed(
+            &ix,
+            &[
+                vesting_acc_info.clone(),
+                vendor_vault_acc_info.clone(),
+                vendor_vault_authority_acc_info.clone(),
+                vesting_vault_acc_info.clone(),
+                safe_acc_info.clone(),
+                token_program_acc_info.clone(),
+                rent_acc_info.clone(),
+                clock_acc_info.clone(),
+                lockup_program_acc_info.clone(),
+            ],
+            &[signer_seeds],
+        )?;
+    }
 
     // Move member rewards cursor.
     member.rewards_cursor = cursor + 1;
@@ -217,19 +257,22 @@ struct AccessControlRequest<'a, 'b> {
     member_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
     vendor_acc_info: &'a AccountInfo<'b>,
+    spt_acc_infos: Vec<&'a AccountInfo<'b>>,
+    clock_acc_info: &'a AccountInfo<'b>,
 }
 
 struct AccessControlResponse {
-    registrar: Registrar,
     vendor: LockedRewardVendor,
+    spts: Vec<TokenAccount>,
+    clock: sysvar::clock::Clock,
 }
 
 struct StateTransitionRequest<'a, 'b, 'c> {
     cursor: u32,
     nonce: u8,
+    clock: &'c sysvar::clock::Clock,
     member: &'c mut Member,
     vendor: &'c LockedRewardVendor,
-    registrar: &'c Registrar,
     registrar_acc_info: &'a AccountInfo<'b>,
     vendor_acc_info: &'a AccountInfo<'b>,
     vendor_vault_authority_acc_info: &'a AccountInfo<'b>,
@@ -241,4 +284,5 @@ struct StateTransitionRequest<'a, 'b, 'c> {
     token_program_acc_info: &'a AccountInfo<'b>,
     rent_acc_info: &'a AccountInfo<'b>,
     clock_acc_info: &'a AccountInfo<'b>,
+    spts: &'c [TokenAccount],
 }
diff --git a/registry/program/src/claim_unlocked_reward.rs b/registry/program/src/claim_unlocked_reward.rs
index dd7b27b..f806b65 100644
--- a/registry/program/src/claim_unlocked_reward.rs
+++ b/registry/program/src/claim_unlocked_reward.rs
@@ -1,11 +1,12 @@
 use serum_common::pack::Pack;
 use serum_common::program::invoke_token_transfer;
 use serum_registry::access_control;
-use serum_registry::accounts::{EntityState, Member, Registrar, UnlockedRewardVendor};
+use serum_registry::accounts::{EntityState, Member, UnlockedRewardVendor};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
+use spl_token::state::Account as TokenAccount;
 
 #[inline(never)]
 pub fn handler(
@@ -13,7 +14,7 @@ pub fn handler(
     accounts: &[AccountInfo],
     cursor: u32,
 ) -> Result<(), RegistryError> {
-    info!("handler: claim_unlocked_reward");
+    msg!("handler: claim_unlocked_reward");
 
     let acc_infos = &mut accounts.iter();
 
@@ -26,9 +27,14 @@ pub fn handler(
     let token_acc_info = next_account_info(acc_infos)?;
     let token_program_acc_info = next_account_info(acc_infos)?;
 
+    let mut spt_acc_infos = vec![];
+    while acc_infos.len() > 0 {
+        spt_acc_infos.push(next_account_info(acc_infos)?);
+    }
+
     let AccessControlResponse {
-        ref registrar,
         ref vendor,
+        ref spts,
     } = access_control(AccessControlRequest {
         program_id,
         registrar_acc_info,
@@ -37,6 +43,7 @@ pub fn handler(
         vendor_acc_info,
         token_acc_info,
         cursor,
+        spt_acc_infos,
     })?;
 
     Member::unpack_mut(
@@ -46,13 +53,13 @@ pub fn handler(
                 cursor,
                 member,
                 vendor,
-                registrar,
                 registrar_acc_info,
                 vendor_acc_info,
                 vendor_vault_authority_acc_info,
                 vendor_vault_acc_info,
                 token_acc_info,
                 token_program_acc_info,
+                spts,
             })
             .map_err(Into::into)
         },
@@ -62,7 +69,7 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: claim_unlocked_reward");
+    msg!("access-control: claim_unlocked_reward");
 
     let AccessControlRequest {
         program_id,
@@ -72,6 +79,7 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         member_acc_info,
         vendor_acc_info,
         token_acc_info,
+        spt_acc_infos,
     } = req;
 
     // Authorization: none required. This operation is purely beneficial for
@@ -90,6 +98,23 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     let vendor =
         access_control::unlocked_reward_vendor(vendor_acc_info, registrar_acc_info, program_id)?;
     let _token = access_control::token(token_acc_info, &member.beneficiary)?;
+    let is_mega = vendor.pool == registrar.pool_mint_mega;
+    let spts = spt_acc_infos
+        .iter()
+        .enumerate()
+        .map(|(idx, spt_acc_info)| {
+            if is_mega {
+                if &member.balances[idx].spt != spt_acc_info.key {
+                    return Err(RegistryErrorCode::InvalidSpt)?;
+                }
+            } else {
+                if &member.balances[idx].spt_mega != spt_acc_info.key {
+                    return Err(RegistryErrorCode::InvalidSpt)?;
+                }
+            }
+            access_control::token_account(spt_acc_info)
+        })
+        .collect::<Result<_, _>>()?;
 
     // ClaimLockedReward specific.
     //
@@ -110,34 +135,28 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         return Err(RegistryErrorCode::EntityNotActivated)?;
     }
 
-    Ok(AccessControlResponse { registrar, vendor })
+    Ok(AccessControlResponse { vendor, spts })
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: claim_unlocked_reward");
+    msg!("state-transition: claim_unlocked_reward");
 
     let StateTransitionRequest {
         cursor,
         member,
         vendor,
         token_acc_info,
-        registrar,
         registrar_acc_info,
         vendor_acc_info,
         vendor_vault_acc_info,
         vendor_vault_authority_acc_info,
         token_program_acc_info,
+        spts,
     } = req;
 
     // Transfer proportion of the reward to the user.
-    let spt = {
-        if vendor.pool == registrar.pool_vault {
-            member.balances.spt_amount
-        } else {
-            member.balances.spt_mega_amount
-        }
-    };
-    let amount = spt
+    let spt_total = spts.iter().map(|a| a.amount).fold(0, |a, b| a + b);
+    let amount = spt_total
         .checked_div(vendor.pool_token_supply)
         .unwrap()
         .checked_mul(vendor.total)
@@ -171,18 +190,19 @@ struct AccessControlRequest<'a, 'b> {
     registrar_acc_info: &'a AccountInfo<'b>,
     vendor_acc_info: &'a AccountInfo<'b>,
     token_acc_info: &'a AccountInfo<'b>,
+    spt_acc_infos: Vec<&'a AccountInfo<'b>>,
 }
 
 struct AccessControlResponse {
     vendor: UnlockedRewardVendor,
-    registrar: Registrar,
+    spts: Vec<TokenAccount>,
 }
 
 struct StateTransitionRequest<'a, 'b, 'c> {
     cursor: u32,
     member: &'c mut Member,
     vendor: &'c UnlockedRewardVendor,
-    registrar: &'c Registrar,
+    spts: &'c [TokenAccount],
     registrar_acc_info: &'a AccountInfo<'b>,
     vendor_acc_info: &'a AccountInfo<'b>,
     vendor_vault_authority_acc_info: &'a AccountInfo<'b>,
diff --git a/registry/program/src/common/entity.rs b/registry/program/src/common/entity.rs
index 05f3711..ec9a93b 100644
--- a/registry/program/src/common/entity.rs
+++ b/registry/program/src/common/entity.rs
@@ -31,7 +31,7 @@ where
         &mut entity_acc_info.try_borrow_mut_data()?,
         &mut |entity: &mut Entity| {
             let clock = access_control::clock(&clock_acc_info)?;
-            let registrar = access_control::registrar(&registrar_acc_info, program_id)?;
+            let registrar = access_control::registrar(registrar_acc_info, program_id)?;
             let _ = access_control::entity_check(
                 entity,
                 entity_acc_info,
diff --git a/registry/program/src/create_entity.rs b/registry/program/src/create_entity.rs
index b49f0b5..cf5b974 100644
--- a/registry/program/src/create_entity.rs
+++ b/registry/program/src/create_entity.rs
@@ -2,7 +2,7 @@ use serum_common::pack::Pack;
 use serum_registry::access_control;
 use serum_registry::accounts::{Entity, EntityState};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 
@@ -12,18 +12,18 @@ pub fn handler(
     accounts: &[AccountInfo],
     metadata: Pubkey,
 ) -> Result<(), RegistryError> {
-    info!("handler: create_entity");
+    msg!("handler: create_entity");
 
     let acc_infos = &mut accounts.iter();
 
     let entity_acc_info = next_account_info(acc_infos)?;
-    let entity_leader_acc_info = next_account_info(acc_infos)?;
+    let leader_acc_info = next_account_info(acc_infos)?;
     let registrar_acc_info = next_account_info(acc_infos)?;
     let rent_acc_info = next_account_info(acc_infos)?;
 
     access_control(AccessControlRequest {
         entity_acc_info,
-        entity_leader_acc_info,
+        leader_acc_info,
         registrar_acc_info,
         rent_acc_info,
         program_id,
@@ -33,10 +33,10 @@ pub fn handler(
         &mut entity_acc_info.try_borrow_mut_data()?,
         &mut |entity: &mut Entity| {
             state_transition(StateTransitionRequest {
-                leader: entity_leader_acc_info.key,
                 entity,
-                registrar_acc_info,
                 metadata,
+                leader_acc_info,
+                registrar_acc_info,
             })
             .map_err(Into::into)
         },
@@ -46,18 +46,18 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
-    info!("access-control: create_entity");
+    msg!("access-control: create_entity");
 
     let AccessControlRequest {
         entity_acc_info,
-        entity_leader_acc_info,
+        leader_acc_info,
         registrar_acc_info,
         rent_acc_info,
         program_id,
     } = req;
 
     // Node leader authorization.
-    if !entity_leader_acc_info.is_signer {
+    if !leader_acc_info.is_signer {
         return Err(RegistryErrorCode::Unauthorized)?;
     }
 
@@ -85,18 +85,18 @@ fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
 
 #[inline(always)]
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: create_entity");
+    msg!("state-transition: create_entity");
 
     let StateTransitionRequest {
         entity,
-        leader,
+        leader_acc_info,
         registrar_acc_info,
         metadata,
     } = req;
 
     entity.initialized = true;
     entity.registrar = *registrar_acc_info.key;
-    entity.leader = *leader;
+    entity.leader = *leader_acc_info.key;
     entity.balances = Default::default();
     entity.state = EntityState::Inactive;
     entity.metadata = metadata;
@@ -106,7 +106,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
 
 struct AccessControlRequest<'a, 'b> {
     entity_acc_info: &'a AccountInfo<'b>,
-    entity_leader_acc_info: &'a AccountInfo<'b>,
+    leader_acc_info: &'a AccountInfo<'b>,
     rent_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
@@ -114,7 +114,7 @@ struct AccessControlRequest<'a, 'b> {
 
 struct StateTransitionRequest<'a, 'b, 'c> {
     registrar_acc_info: &'a AccountInfo<'b>,
-    leader: &'a Pubkey,
+    leader_acc_info: &'a AccountInfo<'b>,
     entity: &'c mut Entity,
     metadata: Pubkey,
 }
diff --git a/registry/program/src/create_member.rs b/registry/program/src/create_member.rs
index a1c51bc..ebd7423 100644
--- a/registry/program/src/create_member.rs
+++ b/registry/program/src/create_member.rs
@@ -1,22 +1,15 @@
 use serum_common::pack::Pack;
-use serum_registry::access_control;
-use serum_registry::accounts::{vault, Member, MemberBalances, Registrar};
+use serum_registry::access_control::{self, BalanceSandboxAccInfo};
+use serum_registry::accounts::{vault, BalanceSandbox, Member, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
-use solana_sdk::program_option::COption;
-use solana_sdk::program_pack::Pack as TokenPack;
 use solana_sdk::pubkey::Pubkey;
 use spl_token::instruction as token_instruction;
-use spl_token::state::Account as TokenAccount;
 
 #[inline(never)]
-pub fn handler(
-    program_id: &Pubkey,
-    accounts: &[AccountInfo],
-    delegate: Pubkey,
-) -> Result<(), RegistryError> {
-    info!("handler: create_member");
+pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), RegistryError> {
+    msg!("handler: create_member");
 
     let acc_infos = &mut accounts.iter();
 
@@ -25,12 +18,24 @@ pub fn handler(
     let entity_acc_info = next_account_info(acc_infos)?;
     let registrar_acc_info = next_account_info(acc_infos)?;
     let registry_signer_acc_info = next_account_info(acc_infos)?;
-    let spt_acc_info = next_account_info(acc_infos)?;
-    let spt_mega_acc_info = next_account_info(acc_infos)?;
     let token_program_acc_info = next_account_info(acc_infos)?;
     let rent_acc_info = next_account_info(acc_infos)?;
+    let mut balances = vec![];
+    while acc_infos.len() > 0 {
+        balances.push(BalanceSandboxAccInfo {
+            owner_acc_info: next_account_info(acc_infos)?,
+            spt_acc_info: next_account_info(acc_infos)?,
+            spt_mega_acc_info: next_account_info(acc_infos)?,
+            vault_acc_info: next_account_info(acc_infos)?,
+            vault_mega_acc_info: next_account_info(acc_infos)?,
+            vault_stake_acc_info: next_account_info(acc_infos)?,
+            vault_stake_mega_acc_info: next_account_info(acc_infos)?,
+            vault_pw_acc_info: next_account_info(acc_infos)?,
+            vault_pw_mega_acc_info: next_account_info(acc_infos)?,
+        })
+    }
 
-    let AccessControlResponse { registrar } = access_control(AccessControlRequest {
+    let AccessControlResponse { ref registrar } = access_control(AccessControlRequest {
         beneficiary_acc_info,
         member_acc_info,
         entity_acc_info,
@@ -38,24 +43,20 @@ pub fn handler(
         registry_signer_acc_info,
         rent_acc_info,
         program_id,
-        spt_acc_info,
-        spt_mega_acc_info,
+        balances: &balances,
     })?;
-
     Member::unpack_unchecked_mut(
         &mut member_acc_info.try_borrow_mut_data()?,
         &mut |member: &mut Member| {
             state_transition(StateTransitionRequest {
                 beneficiary_acc_info,
                 member,
-                delegate,
                 entity_acc_info,
                 registrar_acc_info,
-                registrar: &registrar,
+                registrar,
                 registry_signer_acc_info,
-                spt_acc_info,
-                spt_mega_acc_info,
                 token_program_acc_info,
+                balances: &balances,
             })
             .map_err(Into::into)
         },
@@ -66,7 +67,7 @@ pub fn handler(
 
 #[inline(never)]
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: create_member");
+    msg!("access-control: create_member");
 
     let AccessControlRequest {
         beneficiary_acc_info,
@@ -76,8 +77,7 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         registrar_acc_info,
         registry_signer_acc_info,
         program_id,
-        spt_acc_info,
-        spt_mega_acc_info,
+        balances,
     } = req;
 
     // Authorization.
@@ -94,9 +94,6 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     if !rent.is_exempt(member_acc_info.lamports(), member_acc_info.try_data_len()?) {
         return Err(RegistryErrorCode::NotRentExempt)?;
     }
-    // Use unpack_unchecked since the data will be zero initialized
-    // and so won't consume the entire slice (since Member has internal
-    // state using Vecs).
     let mut data: &[u8] = &member_acc_info.try_borrow_data()?;
     let member = Member::unpack_unchecked(&mut data)?;
     if member_acc_info.owner != program_id {
@@ -105,74 +102,78 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     if member.initialized {
         return Err(RegistryErrorCode::AlreadyInitialized)?;
     }
-
-    // Pool token owner must be the program derived address.
-    // Delegate must be None; it will be set in this instruction.
-    let spt = TokenAccount::unpack(&spt_acc_info.try_borrow_data()?)?;
-    if spt.delegate != COption::None {
-        return Err(RegistryErrorCode::SptDelegateAlreadySet)?;
-    }
-    if spt.owner != *registry_signer_acc_info.key {
-        return Err(RegistryErrorCode::InvalidStakeTokenOwner)?;
-    }
-    if spt.mint != registrar.pool_mint {
-        return Err(RegistryErrorCode::InvalidMint)?;
-    }
-    let spt_mega = TokenAccount::unpack(&spt_mega_acc_info.try_borrow_data()?)?;
-    if spt_mega.delegate != COption::None {
-        return Err(RegistryErrorCode::SptDelegateAlreadySet)?;
-    }
-    if spt_mega.owner != *registry_signer_acc_info.key {
-        return Err(RegistryErrorCode::InvalidStakeTokenOwner)?;
-    }
-    if spt_mega.mint != registrar.pool_mint_mega {
-        return Err(RegistryErrorCode::InvalidMint)?;
+    // Registry signer.
+    let vault_authority = Pubkey::create_program_address(
+        &vault::signer_seeds(registrar_acc_info.key, &registrar.nonce),
+        program_id,
+    )
+    .map_err(|_| RegistryErrorCode::InvalidVaultNonce)?;
+    if &vault_authority != registry_signer_acc_info.key {
+        return Err(RegistryErrorCode::InvalidVaultAuthority)?;
     }
+    // All balance accounts.
+    access_control::balance_sandbox(
+        balances,
+        registrar_acc_info,
+        &registrar,
+        registry_signer_acc_info,
+        &rent,
+        program_id,
+    )?;
 
     Ok(AccessControlResponse { registrar })
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: create_member");
+    msg!("state-transition: create_member");
 
     let StateTransitionRequest {
         beneficiary_acc_info,
         member,
-        delegate,
         entity_acc_info,
         registrar_acc_info,
         registrar,
         registry_signer_acc_info,
-        spt_acc_info,
-        spt_mega_acc_info,
         token_program_acc_info,
+        balances,
     } = req;
 
-    approve_delegate(
-        beneficiary_acc_info,
-        token_program_acc_info,
-        registrar_acc_info,
-        registrar,
-        registry_signer_acc_info,
-        spt_acc_info,
-    )?;
-
-    approve_delegate(
-        beneficiary_acc_info,
-        token_program_acc_info,
-        registrar_acc_info,
-        registrar,
-        registry_signer_acc_info,
-        spt_mega_acc_info,
-    )?;
-
     member.initialized = true;
     member.registrar = *registrar_acc_info.key;
     member.entity = *entity_acc_info.key;
     member.beneficiary = *beneficiary_acc_info.key;
-    member.balances = MemberBalances::new(*beneficiary_acc_info.key, delegate);
-    member.spt = *spt_acc_info.key;
-    member.spt_mega = *spt_mega_acc_info.key;
+    member.balances = balances
+        .iter()
+        .map(|b| {
+            approve_delegate(
+                beneficiary_acc_info,
+                token_program_acc_info,
+                registrar_acc_info,
+                registrar,
+                registry_signer_acc_info,
+                b.spt_acc_info,
+            )?;
+            approve_delegate(
+                beneficiary_acc_info,
+                token_program_acc_info,
+                registrar_acc_info,
+                registrar,
+                registry_signer_acc_info,
+                b.spt_mega_acc_info,
+            )?;
+            Ok(BalanceSandbox {
+                owner: *b.owner_acc_info.key,
+                spt: *b.spt_acc_info.key,
+                spt_mega: *b.spt_mega_acc_info.key,
+                vault: *b.vault_acc_info.key,
+                vault_mega: *b.vault_mega_acc_info.key,
+                vault_stake: *b.vault_stake_acc_info.key,
+                vault_stake_mega: *b.vault_stake_mega_acc_info.key,
+                vault_pending_withdrawal: *b.vault_pw_acc_info.key,
+                vault_pending_withdrawal_mega: *b.vault_pw_mega_acc_info.key,
+            })
+        })
+        .collect::<Result<Vec<BalanceSandbox>, RegistryError>>()?;
 
     Ok(())
 }
@@ -184,11 +185,11 @@ fn approve_delegate<'a, 'b, 'c>(
     registrar_acc_info: &'a AccountInfo<'b>,
     registrar: &'c Registrar,
     registry_signer_acc_info: &'a AccountInfo<'b>,
-    spt_acc_info: &'a AccountInfo<'b>,
+    member_spt_acc_info: &'a AccountInfo<'b>,
 ) -> Result<(), RegistryError> {
     let approve_instr = token_instruction::approve(
         &spl_token::ID,
-        spt_acc_info.key,
+        member_spt_acc_info.key,
         &beneficiary_acc_info.key,
         registry_signer_acc_info.key,
         &[],
@@ -197,7 +198,7 @@ fn approve_delegate<'a, 'b, 'c>(
     solana_sdk::program::invoke_signed(
         &approve_instr,
         &[
-            spt_acc_info.clone(),
+            member_spt_acc_info.clone(),
             beneficiary_acc_info.clone(),
             registry_signer_acc_info.clone(),
             token_program_acc_info.clone(),
@@ -211,16 +212,15 @@ fn approve_delegate<'a, 'b, 'c>(
     Ok(())
 }
 
-struct AccessControlRequest<'a, 'b> {
-    beneficiary_acc_info: &'a AccountInfo<'b>,
+struct AccessControlRequest<'a, 'b, 'c> {
     member_acc_info: &'a AccountInfo<'b>,
+    beneficiary_acc_info: &'a AccountInfo<'b>,
     entity_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
     registry_signer_acc_info: &'a AccountInfo<'b>,
     rent_acc_info: &'a AccountInfo<'b>,
-    spt_acc_info: &'a AccountInfo<'b>,
-    spt_mega_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
+    balances: &'c [BalanceSandboxAccInfo<'a, 'b>],
 }
 
 struct AccessControlResponse {
@@ -231,11 +231,9 @@ struct StateTransitionRequest<'a, 'b, 'c> {
     beneficiary_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
     entity_acc_info: &'a AccountInfo<'b>,
-    spt_acc_info: &'a AccountInfo<'b>,
-    spt_mega_acc_info: &'a AccountInfo<'b>,
     registry_signer_acc_info: &'a AccountInfo<'b>,
     token_program_acc_info: &'a AccountInfo<'b>,
     registrar: &'c Registrar,
     member: &'c mut Member,
-    delegate: Pubkey,
+    balances: &'c [BalanceSandboxAccInfo<'a, 'b>],
 }
diff --git a/registry/program/src/deposit.rs b/registry/program/src/deposit.rs
index 79ad2bd..3257193 100644
--- a/registry/program/src/deposit.rs
+++ b/registry/program/src/deposit.rs
@@ -1,23 +1,17 @@
-use crate::common::entity::{with_entity, EntityContext};
-use serum_common::pack::Pack;
 use serum_common::program::invoke_token_transfer;
 use serum_registry::access_control;
-use serum_registry::accounts::{Entity, Member, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
-use solana_sdk::sysvar::clock::Clock;
-use spl_token::state::Account as TokenAccount;
 
 #[inline(never)]
 pub fn handler(
     program_id: &Pubkey,
     accounts: &[AccountInfo],
     amount: u64,
-    delegate: bool,
 ) -> Result<(), RegistryError> {
-    info!("handler: deposit");
+    msg!("handler: deposit");
 
     let acc_infos = &mut accounts.iter();
 
@@ -25,64 +19,39 @@ pub fn handler(
     let depositor_acc_info = next_account_info(acc_infos)?;
     let depositor_authority_acc_info = next_account_info(acc_infos)?;
     let token_program_acc_info = next_account_info(acc_infos)?;
-    let vault_acc_info = next_account_info(acc_infos)?;
-    let vault_authority_acc_info = next_account_info(acc_infos)?;
+    let member_vault_acc_info = next_account_info(acc_infos)?;
+    let member_vault_authority_acc_info = next_account_info(acc_infos)?;
 
     // Program specfic.
     let member_acc_info = next_account_info(acc_infos)?;
     let beneficiary_acc_info = next_account_info(acc_infos)?;
     let entity_acc_info = next_account_info(acc_infos)?;
     let registrar_acc_info = next_account_info(acc_infos)?;
-    let clock_acc_info = next_account_info(acc_infos)?;
 
-    let ctx = EntityContext {
-        registrar_acc_info,
+    access_control(AccessControlRequest {
+        depositor_authority_acc_info,
+        depositor_acc_info,
+        member_acc_info,
+        beneficiary_acc_info,
         entity_acc_info,
-        clock_acc_info,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
         program_id,
-    };
-    with_entity(ctx, &mut |entity: &mut Entity,
-                           registrar: &Registrar,
-                           _: &Clock| {
-        let AccessControlResponse { depositor } = access_control(AccessControlRequest {
-            depositor_authority_acc_info,
-            depositor_acc_info,
-            member_acc_info,
-            beneficiary_acc_info,
-            entity_acc_info,
-            vault_acc_info,
-            vault_authority_acc_info,
-            program_id,
-            registrar_acc_info,
-            registrar,
-            delegate,
-        })?;
-
-        Member::unpack_mut(
-            &mut member_acc_info.try_borrow_mut_data()?,
-            &mut |member: &mut Member| {
-                state_transition(StateTransitionRequest {
-                    entity,
-                    member,
-                    amount,
-                    depositor_authority_acc_info,
-                    depositor_acc_info,
-                    depositor,
-                    token_program_acc_info,
-                    registrar,
-                    vault_acc_info,
-                })
-                .map_err(Into::into)
-            },
-        )
-        .map_err(Into::into)
+        registrar_acc_info,
+    })?;
+    state_transition(StateTransitionRequest {
+        amount,
+        depositor_authority_acc_info,
+        depositor_acc_info,
+        token_program_acc_info,
+        member_vault_acc_info,
     })?;
 
     Ok(())
 }
 
-fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: deposit");
+fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
+    msg!("access-control: deposit");
 
     let AccessControlRequest {
         depositor_authority_acc_info,
@@ -90,12 +59,10 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         member_acc_info,
         beneficiary_acc_info,
         entity_acc_info,
-        vault_acc_info,
-        vault_authority_acc_info,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
         registrar_acc_info,
-        registrar,
         program_id,
-        delegate,
     } = req;
 
     // Authorization.
@@ -105,92 +72,68 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     if !depositor_authority_acc_info.is_signer {
         return Err(RegistryErrorCode::Unauthorized)?;
     }
-
     // Account validation.
+    let registrar = access_control::registrar(registrar_acc_info, program_id)?;
+    let _depositor = access_control::token(depositor_acc_info, depositor_authority_acc_info.key)?;
     let member = access_control::member_join(
         member_acc_info,
         entity_acc_info,
         beneficiary_acc_info,
         program_id,
     )?;
-    let _vault = access_control::vault_authenticated(
-        vault_acc_info,
-        vault_authority_acc_info,
+    let (_member_vault, _is_mega) = access_control::member_vault(
+        &member,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
         registrar_acc_info,
-        registrar,
+        &registrar,
         program_id,
+        depositor_authority_acc_info.key,
     )?;
 
-    // Deposit specific.
-    //
-    // Authenticate the delegate boolean.
-    let depositor = access_control::token(depositor_acc_info, depositor_authority_acc_info.key)?;
-    if delegate != (depositor.owner == member.balances.delegate.owner) {
-        return Err(RegistryErrorCode::DepositorOwnerDelegateMismatch)?;
-    }
-
-    Ok(AccessControlResponse { depositor })
+    Ok(())
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: deposit");
+    msg!("state-transition: deposit");
 
     let StateTransitionRequest {
-        entity,
-        member,
         amount,
         depositor_authority_acc_info,
         depositor_acc_info,
-        depositor,
-        vault_acc_info,
+        member_vault_acc_info,
         token_program_acc_info,
-        registrar,
     } = req;
 
-    // Transfer tokens.
+    // Transfer tokens in.
     invoke_token_transfer(
         depositor_acc_info,
-        vault_acc_info,
+        member_vault_acc_info,
         depositor_authority_acc_info,
         token_program_acc_info,
         &[],
         amount,
     )?;
 
-    // Bookkeeping.
-    let is_mega = registrar.is_mega(*vault_acc_info.key)?;
-    member.did_deposit(amount, is_mega, depositor.owner);
-    entity.did_deposit(amount, is_mega);
-
     Ok(())
 }
 
-struct AccessControlRequest<'a, 'b, 'c> {
+struct AccessControlRequest<'a, 'b> {
     depositor_authority_acc_info: &'a AccountInfo<'b>,
     depositor_acc_info: &'a AccountInfo<'b>,
     member_acc_info: &'a AccountInfo<'b>,
     beneficiary_acc_info: &'a AccountInfo<'b>,
     entity_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
-    vault_authority_acc_info: &'a AccountInfo<'b>,
+    member_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
-    registrar: &'c Registrar,
-    delegate: bool,
 }
 
-struct AccessControlResponse {
-    depositor: TokenAccount,
-}
-
-struct StateTransitionRequest<'a, 'b, 'c> {
-    vault_acc_info: &'a AccountInfo<'b>,
+struct StateTransitionRequest<'a, 'b> {
+    member_vault_acc_info: &'a AccountInfo<'b>,
     depositor_authority_acc_info: &'a AccountInfo<'b>,
     depositor_acc_info: &'a AccountInfo<'b>,
     token_program_acc_info: &'a AccountInfo<'b>,
-    registrar: &'c Registrar,
-    entity: &'c mut Entity,
-    member: &'c mut Member,
-    depositor: TokenAccount,
     amount: u64,
 }
diff --git a/registry/program/src/drop_locked_reward.rs b/registry/program/src/drop_locked_reward.rs
index e084312..5d6fd52 100644
--- a/registry/program/src/drop_locked_reward.rs
+++ b/registry/program/src/drop_locked_reward.rs
@@ -4,7 +4,7 @@ use serum_registry::access_control;
 use serum_registry::accounts::reward_queue::Ring;
 use serum_registry::accounts::{LockedRewardVendor, RewardEvent, RewardEventQueue};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::next_account_info;
 use solana_sdk::account_info::AccountInfo;
 use solana_sdk::program_pack::Pack as TokenPack;
@@ -24,7 +24,7 @@ pub fn handler(
     period_count: u64,
     nonce: u8,
 ) -> Result<(), RegistryError> {
-    info!("handler: drop_locked_reward");
+    msg!("handler: drop_locked_reward");
 
     let acc_infos = &mut accounts.iter();
 
@@ -32,21 +32,19 @@ pub fn handler(
     let registrar_acc_info = next_account_info(acc_infos)?;
     let depositor_acc_info = next_account_info(acc_infos)?;
     let depositor_owner_acc_info = next_account_info(acc_infos)?;
-    let pool_vault_acc_info = next_account_info(acc_infos)?;
-    let pool_token_mint_acc_info = next_account_info(acc_infos)?;
+    let pool_mint_acc_info = next_account_info(acc_infos)?;
     let vendor_acc_info = next_account_info(acc_infos)?;
     let vendor_vault_acc_info = next_account_info(acc_infos)?;
     let token_program_acc_info = next_account_info(acc_infos)?;
     let clock_acc_info = next_account_info(acc_infos)?;
 
     let AccessControlResponse {
-        pool_token_mint,
+        pool_mint,
         ref clock,
     } = access_control(AccessControlRequest {
         program_id,
         registrar_acc_info,
-        pool_vault_acc_info,
-        pool_token_mint_acc_info,
+        pool_mint_acc_info,
         vendor_acc_info,
         vendor_vault_acc_info,
         clock_acc_info,
@@ -70,11 +68,11 @@ pub fn handler(
                 vendor_vault_acc_info,
                 reward_event_q_acc_info,
                 registrar_acc_info,
-                pool_vault_acc_info,
                 depositor_acc_info,
                 depositor_owner_acc_info,
                 token_program_acc_info,
-                pool_token_mint,
+                pool_mint,
+                pool_mint_acc_info,
                 clock,
                 period_count,
             })
@@ -86,13 +84,12 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: drop_locked_reward");
+    msg!("access-control: drop_locked_reward");
 
     let AccessControlRequest {
         program_id,
         registrar_acc_info,
-        pool_vault_acc_info,
-        pool_token_mint_acc_info,
+        pool_mint_acc_info,
         vendor_acc_info,
         vendor_vault_acc_info,
         clock_acc_info,
@@ -109,28 +106,13 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     //
     // Registrar.
     let registrar = access_control::registrar(registrar_acc_info, program_id)?;
-    if &registrar.pool_vault != pool_vault_acc_info.key
-        && &registrar.pool_vault_mega != pool_vault_acc_info.key
-    {
-        return Err(RegistryErrorCode::InvalidPoolAccounts)?;
-    }
     // Pool.
-    let pool_token_mint = access_control::mint(pool_token_mint_acc_info)?;
-    if registrar.pool_mint != *pool_token_mint_acc_info.key
-        && registrar.pool_mint_mega != *pool_token_mint_acc_info.key
+    let pool_mint = access_control::mint(pool_mint_acc_info)?;
+    if registrar.pool_mint != *pool_mint_acc_info.key
+        && registrar.pool_mint_mega != *pool_mint_acc_info.key
     {
         return Err(RegistryErrorCode::InvalidPoolTokenMint)?;
     }
-    let is_mega = &registrar.pool_vault_mega == pool_vault_acc_info.key;
-    if is_mega {
-        if &registrar.pool_mint_mega != pool_token_mint_acc_info.key {
-            return Err(RegistryErrorCode::InvalidPoolTokenMint)?;
-        }
-    } else {
-        if &registrar.pool_mint != pool_token_mint_acc_info.key {
-            return Err(RegistryErrorCode::InvalidPoolTokenMint)?;
-        }
-    }
     // Vault + nonce.
     let vendor_vault_authority = Pubkey::create_program_address(
         &[
@@ -154,19 +136,16 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         return Err(RegistryErrorCode::InvalidExpiry)?;
     }
     // Must be dropping enough to give at least one token to everyone in pool.
-    if total < pool_token_mint.supply {
+    if total < pool_mint.supply {
         return Err(RegistryErrorCode::InsufficientReward)?;
     }
 
-    Ok(AccessControlResponse {
-        pool_token_mint,
-        clock,
-    })
+    Ok(AccessControlResponse { pool_mint, clock })
 }
 
 #[inline(always)]
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: drop_locked_reward");
+    msg!("state-transition: drop_locked_reward");
 
     let StateTransitionRequest {
         nonce,
@@ -178,11 +157,11 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
         vendor_vault_acc_info,
         reward_event_q_acc_info,
         registrar_acc_info,
-        pool_vault_acc_info,
         depositor_acc_info,
         depositor_owner_acc_info,
         token_program_acc_info,
-        pool_token_mint,
+        pool_mint,
+        pool_mint_acc_info,
         clock,
         period_count,
         end_ts,
@@ -198,7 +177,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
     let cursor = reward_event_q.head_cursor()?;
     reward_event_q.append(&RewardEvent::LockedAlloc {
         from: *depositor_owner_acc_info.key,
-        pool: *pool_vault_acc_info.key,
+        pool: *pool_mint_acc_info.key,
         total,
         vendor: *vendor_acc_info.key,
         mint,
@@ -219,8 +198,8 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
     vendor.registrar = *registrar_acc_info.key;
     vendor.vault = *vendor_vault_acc_info.key;
     vendor.nonce = nonce;
-    vendor.pool = *pool_vault_acc_info.key;
-    vendor.pool_token_supply = pool_token_mint.supply;
+    vendor.pool = *pool_mint_acc_info.key;
+    vendor.pool_token_supply = pool_mint.supply;
     vendor.reward_event_q_cursor = cursor;
     vendor.start_ts = clock.unix_timestamp;
     vendor.end_ts = end_ts;
@@ -235,8 +214,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
 struct AccessControlRequest<'a, 'b> {
     program_id: &'a Pubkey,
     registrar_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
-    pool_token_mint_acc_info: &'a AccountInfo<'b>,
+    pool_mint_acc_info: &'a AccountInfo<'b>,
     vendor_acc_info: &'a AccountInfo<'b>,
     vendor_vault_acc_info: &'a AccountInfo<'b>,
     clock_acc_info: &'a AccountInfo<'b>,
@@ -247,7 +225,7 @@ struct AccessControlRequest<'a, 'b> {
 }
 
 struct AccessControlResponse {
-    pool_token_mint: Mint,
+    pool_mint: Mint,
     clock: Clock,
 }
 
@@ -264,9 +242,9 @@ struct StateTransitionRequest<'a, 'b, 'c> {
     vendor_vault_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
     reward_event_q_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
+    pool_mint_acc_info: &'a AccountInfo<'b>,
     depositor_acc_info: &'a AccountInfo<'b>,
     depositor_owner_acc_info: &'a AccountInfo<'b>,
     token_program_acc_info: &'a AccountInfo<'b>,
-    pool_token_mint: Mint,
+    pool_mint: Mint,
 }
diff --git a/registry/program/src/drop_unlocked_reward.rs b/registry/program/src/drop_unlocked_reward.rs
index ae16392..b9b1ba8 100644
--- a/registry/program/src/drop_unlocked_reward.rs
+++ b/registry/program/src/drop_unlocked_reward.rs
@@ -4,7 +4,7 @@ use serum_registry::access_control;
 use serum_registry::accounts::reward_queue::Ring;
 use serum_registry::accounts::{RewardEvent, RewardEventQueue, UnlockedRewardVendor};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::next_account_info;
 use solana_sdk::account_info::AccountInfo;
 use solana_sdk::program_pack::Pack as TokenPack;
@@ -22,7 +22,7 @@ pub fn handler(
     expiry_receiver: Pubkey,
     nonce: u8,
 ) -> Result<(), RegistryError> {
-    info!("handler: drop_unlocked_reward");
+    msg!("handler: drop_unlocked_reward");
 
     let acc_infos = &mut accounts.iter();
 
@@ -30,8 +30,7 @@ pub fn handler(
     let registrar_acc_info = next_account_info(acc_infos)?;
     let depositor_acc_info = next_account_info(acc_infos)?;
     let depositor_owner_acc_info = next_account_info(acc_infos)?;
-    let pool_vault_acc_info = next_account_info(acc_infos)?;
-    let pool_token_mint_acc_info = next_account_info(acc_infos)?;
+    let pool_mint_acc_info = next_account_info(acc_infos)?;
     let vendor_acc_info = next_account_info(acc_infos)?;
     let vendor_vault_acc_info = next_account_info(acc_infos)?;
     let token_program_acc_info = next_account_info(acc_infos)?;
@@ -43,8 +42,7 @@ pub fn handler(
     } = access_control(AccessControlRequest {
         program_id,
         registrar_acc_info,
-        pool_vault_acc_info,
-        pool_token_mint_acc_info,
+        pool_mint_acc_info,
         vendor_acc_info,
         vendor_vault_acc_info,
         clock_acc_info,
@@ -62,7 +60,6 @@ pub fn handler(
                 expiry_ts,
                 expiry_receiver,
                 vendor,
-                pool_vault_acc_info,
                 vendor_acc_info,
                 vendor_vault_acc_info,
                 reward_event_q_acc_info,
@@ -70,6 +67,7 @@ pub fn handler(
                 depositor_acc_info,
                 depositor_owner_acc_info,
                 token_program_acc_info,
+                pool_mint_acc_info,
                 pool_token_mint,
                 clock,
             })
@@ -81,13 +79,12 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: drop_unlocked_reward");
+    msg!("access-control: drop_unlocked_reward");
 
     let AccessControlRequest {
         program_id,
         registrar_acc_info,
-        pool_vault_acc_info,
-        pool_token_mint_acc_info,
+        pool_mint_acc_info,
         vendor_acc_info,
         vendor_vault_acc_info,
         clock_acc_info,
@@ -103,28 +100,13 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     //
     // Registrar.
     let registrar = access_control::registrar(registrar_acc_info, program_id)?;
-    if &registrar.pool_vault != pool_vault_acc_info.key
-        && &registrar.pool_vault_mega != pool_vault_acc_info.key
-    {
-        return Err(RegistryErrorCode::InvalidPoolAccounts)?;
-    }
     // Pool.
-    let pool_token_mint = access_control::mint(pool_token_mint_acc_info)?;
-    if registrar.pool_mint != *pool_token_mint_acc_info.key
-        && registrar.pool_mint_mega != *pool_token_mint_acc_info.key
+    let pool_token_mint = access_control::mint(pool_mint_acc_info)?;
+    if registrar.pool_mint != *pool_mint_acc_info.key
+        && registrar.pool_mint_mega != *pool_mint_acc_info.key
     {
         return Err(RegistryErrorCode::InvalidPoolTokenMint)?;
     }
-    let is_mega = &registrar.pool_vault_mega == pool_vault_acc_info.key;
-    if is_mega {
-        if &registrar.pool_mint_mega != pool_token_mint_acc_info.key {
-            return Err(RegistryErrorCode::InvalidPoolTokenMint)?;
-        }
-    } else {
-        if &registrar.pool_mint != pool_token_mint_acc_info.key {
-            return Err(RegistryErrorCode::InvalidPoolTokenMint)?;
-        }
-    }
     // Vault + nonce.
     let vendor_vault_authority = Pubkey::create_program_address(
         &[
@@ -157,7 +139,7 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
 
 #[inline(always)]
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: drop_unlocked_reward");
+    msg!("state-transition: drop_unlocked_reward");
 
     let StateTransitionRequest {
         nonce,
@@ -169,7 +151,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
         vendor_vault_acc_info,
         reward_event_q_acc_info,
         registrar_acc_info,
-        pool_vault_acc_info,
+        pool_mint_acc_info,
         depositor_acc_info,
         depositor_owner_acc_info,
         token_program_acc_info,
@@ -187,7 +169,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
     let cursor = reward_event_q.head_cursor()?;
     reward_event_q.append(&RewardEvent::UnlockedAlloc {
         from: *depositor_owner_acc_info.key,
-        pool: *pool_vault_acc_info.key,
+        pool: *pool_mint_acc_info.key,
         total,
         vendor: *vendor_acc_info.key,
         mint,
@@ -208,7 +190,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
     vendor.registrar = *registrar_acc_info.key;
     vendor.vault = *vendor_vault_acc_info.key;
     vendor.nonce = nonce;
-    vendor.pool = *pool_vault_acc_info.key;
+    vendor.pool = *pool_mint_acc_info.key;
     vendor.pool_token_supply = pool_token_mint.supply;
     vendor.reward_event_q_cursor = cursor;
     vendor.start_ts = clock.unix_timestamp;
@@ -222,8 +204,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
 struct AccessControlRequest<'a, 'b> {
     program_id: &'a Pubkey,
     registrar_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
-    pool_token_mint_acc_info: &'a AccountInfo<'b>,
+    pool_mint_acc_info: &'a AccountInfo<'b>,
     vendor_acc_info: &'a AccountInfo<'b>,
     vendor_vault_acc_info: &'a AccountInfo<'b>,
     clock_acc_info: &'a AccountInfo<'b>,
@@ -248,7 +229,7 @@ struct StateTransitionRequest<'a, 'b, 'c> {
     vendor_vault_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
     reward_event_q_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
+    pool_mint_acc_info: &'a AccountInfo<'b>,
     depositor_acc_info: &'a AccountInfo<'b>,
     depositor_owner_acc_info: &'a AccountInfo<'b>,
     token_program_acc_info: &'a AccountInfo<'b>,
diff --git a/registry/program/src/end_stake_withdrawal.rs b/registry/program/src/end_stake_withdrawal.rs
index 329776d..633c69a 100644
--- a/registry/program/src/end_stake_withdrawal.rs
+++ b/registry/program/src/end_stake_withdrawal.rs
@@ -1,55 +1,56 @@
 use serum_common::pack::Pack;
+use serum_common::program::invoke_token_transfer;
 use serum_registry::access_control;
-use serum_registry::accounts::{Entity, Member, PendingWithdrawal};
+use serum_registry::accounts::{vault, BalanceSandbox, PendingWithdrawal, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 use std::convert::Into;
 
 #[inline(never)]
 pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), RegistryError> {
-    info!("handler: end_stake_withdrawl");
+    msg!("handler: end_stake_withdrawl");
 
     let acc_infos = &mut accounts.iter();
 
     let pending_withdrawal_acc_info = next_account_info(acc_infos)?;
     let member_acc_info = next_account_info(acc_infos)?;
+    let member_vault_acc_info = next_account_info(acc_infos)?;
+    let member_vault_pw_acc_info = next_account_info(acc_infos)?;
+    let member_vault_authority_acc_info = next_account_info(acc_infos)?;
     let beneficiary_acc_info = next_account_info(acc_infos)?;
     let entity_acc_info = next_account_info(acc_infos)?;
+    let token_program_acc_info = next_account_info(acc_infos)?;
     let registrar_acc_info = next_account_info(acc_infos)?;
     let clock_acc_info = next_account_info(acc_infos)?;
 
-    let AccessControlResponse { is_mega } = access_control(AccessControlRequest {
+    let AccessControlResponse { ref registrar } = access_control(AccessControlRequest {
         registrar_acc_info,
         pending_withdrawal_acc_info,
         beneficiary_acc_info,
         member_acc_info,
+        member_vault_acc_info,
+        member_vault_pw_acc_info,
         entity_acc_info,
         clock_acc_info,
         program_id,
+        member_vault_authority_acc_info,
     })?;
 
-    Entity::unpack_unchecked_mut(
-        &mut entity_acc_info.try_borrow_mut_data()?,
-        &mut |entity: &mut Entity| {
-            Member::unpack_mut(
-                &mut member_acc_info.try_borrow_mut_data()?,
-                &mut |member: &mut Member| {
-                    PendingWithdrawal::unpack_mut(
-                        &mut pending_withdrawal_acc_info.try_borrow_mut_data()?,
-                        &mut |pending_withdrawal: &mut PendingWithdrawal| {
-                            state_transition(StateTransitionRequest {
-                                pending_withdrawal,
-                                entity,
-                                member,
-                                is_mega,
-                            })
-                            .map_err(Into::into)
-                        },
-                    )
-                },
-            )
+    PendingWithdrawal::unpack_mut(
+        &mut pending_withdrawal_acc_info.try_borrow_mut_data()?,
+        &mut |pending_withdrawal: &mut PendingWithdrawal| {
+            state_transition(StateTransitionRequest {
+                pending_withdrawal,
+                registrar,
+                registrar_acc_info,
+                member_vault_acc_info,
+                member_vault_pw_acc_info,
+                member_vault_authority_acc_info,
+                token_program_acc_info,
+            })
+            .map_err(Into::into)
         },
     )?;
 
@@ -58,7 +59,7 @@ pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), Regi
 
 #[inline(always)]
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: end_stake_withdrawal");
+    msg!("access-control: end_stake_withdrawal");
 
     let AccessControlRequest {
         registrar_acc_info,
@@ -68,6 +69,9 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         entity_acc_info,
         clock_acc_info,
         program_id,
+        member_vault_acc_info,
+        member_vault_pw_acc_info,
+        member_vault_authority_acc_info,
     } = req;
 
     // Authorization.
@@ -78,7 +82,7 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     // Account validation.
     let registrar = access_control::registrar(registrar_acc_info, program_id)?;
     let _entity = access_control::entity(entity_acc_info, registrar_acc_info, program_id)?;
-    let _member = access_control::member_join(
+    let member = access_control::member_join(
         member_acc_info,
         entity_acc_info,
         beneficiary_acc_info,
@@ -88,36 +92,78 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         access_control::pending_withdrawal(pending_withdrawal_acc_info, program_id)?;
     let clock = access_control::clock(clock_acc_info)?;
 
+    let b = member
+        .balances
+        .iter()
+        .filter(|b| b.owner == pending_withdrawal.balance_id)
+        .collect::<Vec<&BalanceSandbox>>();
+    let balances = b.first().ok_or(RegistryErrorCode::InvalidBalanceSandbox)?;
+
+    let (_, is_mega_vault) = access_control::member_vault(
+        &member,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        registrar_acc_info,
+        &registrar,
+        program_id,
+        &balances.owner,
+    )?;
+    let (_, is_mega_vault_pw) = access_control::member_vault_pending_withdrawal(
+        &member,
+        member_vault_pw_acc_info,
+        member_vault_authority_acc_info,
+        registrar_acc_info,
+        &registrar,
+        program_id,
+        &balances.owner,
+    )?;
+
     let is_mega = {
-        if pending_withdrawal.pool == registrar.pool_vault {
+        if pending_withdrawal.pool == registrar.pool_mint {
             false
-        } else if pending_withdrawal.pool == registrar.pool_vault_mega {
+        } else if pending_withdrawal.pool == registrar.pool_mint_mega {
             true
         } else {
             return Err(RegistryErrorCode::InvariantViolation)?;
         }
     };
+    if is_mega != is_mega_vault || is_mega != is_mega_vault_pw {
+        return Err(RegistryErrorCode::InvalidVault)?;
+    }
 
     // EndStakeWithdrawal specific.
     if clock.unix_timestamp < pending_withdrawal.end_ts {
         return Err(RegistryErrorCode::WithdrawalTimelockNotPassed)?;
     }
 
-    Ok(AccessControlResponse { is_mega })
+    Ok(AccessControlResponse { registrar })
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: end_stake_withdrawal");
+    msg!("state-transition: end_stake_withdrawal");
 
     let StateTransitionRequest {
         pending_withdrawal,
-        entity,
-        member,
-        is_mega,
+        registrar,
+        registrar_acc_info,
+        member_vault_acc_info,
+        member_vault_pw_acc_info,
+        member_vault_authority_acc_info,
+        token_program_acc_info,
     } = req;
 
-    member.spt_did_unstake_end(pending_withdrawal.spt_amount, is_mega);
-    entity.spt_did_unstake_end(pending_withdrawal.spt_amount, is_mega);
+    invoke_token_transfer(
+        member_vault_pw_acc_info,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        token_program_acc_info,
+        &[&vault::signer_seeds(
+            registrar_acc_info.key,
+            &registrar.nonce,
+        )],
+        pending_withdrawal.amount,
+    )?;
+
     pending_withdrawal.burned = true;
 
     Ok(())
@@ -128,18 +174,24 @@ struct AccessControlRequest<'a, 'b> {
     pending_withdrawal_acc_info: &'a AccountInfo<'b>,
     beneficiary_acc_info: &'a AccountInfo<'b>,
     member_acc_info: &'a AccountInfo<'b>,
+    member_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_pw_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
     entity_acc_info: &'a AccountInfo<'b>,
     clock_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
 }
 
 struct AccessControlResponse {
-    is_mega: bool,
+    registrar: Registrar,
 }
 
-struct StateTransitionRequest<'a> {
-    pending_withdrawal: &'a mut PendingWithdrawal,
-    entity: &'a mut Entity,
-    member: &'a mut Member,
-    is_mega: bool,
+struct StateTransitionRequest<'a, 'b, 'c> {
+    registrar_acc_info: &'a AccountInfo<'b>,
+    member_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_pw_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
+    token_program_acc_info: &'a AccountInfo<'b>,
+    pending_withdrawal: &'c mut PendingWithdrawal,
+    registrar: &'c Registrar,
 }
diff --git a/registry/program/src/initialize.rs b/registry/program/src/initialize.rs
index ca6cfaa..826ec8f 100644
--- a/registry/program/src/initialize.rs
+++ b/registry/program/src/initialize.rs
@@ -1,35 +1,33 @@
 use serum_common::pack::Pack;
 use serum_registry::access_control;
 use serum_registry::accounts::reward_queue::{RewardEventQueue, Ring};
-use serum_registry::accounts::Registrar;
+use serum_registry::accounts::{vault, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
+use solana_sdk::program_option::COption;
 use solana_sdk::pubkey::Pubkey;
 
 #[inline(never)]
 pub fn handler(
     program_id: &Pubkey,
     accounts: &[AccountInfo],
+    mint: Pubkey,
+    mint_mega: Pubkey,
     authority: Pubkey,
     nonce: u8,
     withdrawal_timelock: i64,
     deactivation_timelock: i64,
     reward_activation_threshold: u64,
     max_stake_per_entity: u64,
+    stake_rate: u64,
+    stake_rate_mega: u64,
 ) -> Result<(), RegistryError> {
-    info!("handler: initialize");
+    msg!("handler: initialize");
 
     let acc_infos = &mut accounts.iter();
 
     let registrar_acc_info = next_account_info(acc_infos)?;
-    // Deposit vaults.
-    let vault_acc_info = next_account_info(acc_infos)?;
-    let mega_vault_acc_info = next_account_info(acc_infos)?;
-    // Pool Vaults.
-    let pool_vault_acc_info = next_account_info(acc_infos)?;
-    let pool_vault_mega_acc_info = next_account_info(acc_infos)?;
-    // Pool mints.
     let pool_mint_acc_info = next_account_info(acc_infos)?;
     let pool_mint_mega_acc_info = next_account_info(acc_infos)?;
     let reward_event_q_acc_info = next_account_info(acc_infos)?;
@@ -38,10 +36,6 @@ pub fn handler(
     access_control(AccessControlRequest {
         registrar_acc_info,
         rent_acc_info,
-        vault_acc_info,
-        mega_vault_acc_info,
-        pool_vault_acc_info,
-        pool_vault_mega_acc_info,
         pool_mint_acc_info,
         pool_mint_mega_acc_info,
         program_id,
@@ -55,10 +49,8 @@ pub fn handler(
             state_transition(StateTransitionRequest {
                 registrar,
                 authority,
-                vault_acc_info,
-                mega_vault_acc_info,
-                pool_vault_acc_info,
-                pool_vault_mega_acc_info,
+                mint,
+                mint_mega,
                 pool_mint_acc_info,
                 pool_mint_mega_acc_info,
                 withdrawal_timelock,
@@ -68,6 +60,8 @@ pub fn handler(
                 max_stake_per_entity,
                 reward_event_q_acc_info,
                 registrar_acc_info,
+                stake_rate,
+                stake_rate_mega,
             })
             .map_err(Into::into)
         },
@@ -77,15 +71,11 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
-    info!("access-control: initialize");
+    msg!("access-control: initialize");
 
     let AccessControlRequest {
         registrar_acc_info,
         rent_acc_info,
-        vault_acc_info,
-        mega_vault_acc_info,
-        pool_vault_acc_info,
-        pool_vault_mega_acc_info,
         pool_mint_acc_info,
         pool_mint_mega_acc_info,
         program_id,
@@ -115,17 +105,18 @@ fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
         }
     }
 
-    // TODO: validate all pool vaults.
-
-    // Vaults (initialized but not yet on the Registrar).
-    access_control::vault_init(vault_acc_info, registrar_acc_info, &rent, nonce, program_id)?;
-    access_control::vault_init(
-        mega_vault_acc_info,
-        registrar_acc_info,
-        &rent,
-        nonce,
+    let pool_mint = access_control::mint(pool_mint_acc_info)?;
+    let pool_mint_mega = access_control::mint(pool_mint_mega_acc_info)?;
+    let vault_authority = Pubkey::create_program_address(
+        &vault::signer_seeds(registrar_acc_info.key, &nonce),
         program_id,
-    )?;
+    )
+    .map_err(|_| RegistryErrorCode::InvalidVaultNonce)?;
+    if pool_mint.mint_authority != COption::Some(vault_authority)
+        || pool_mint_mega.mint_authority != COption::Some(vault_authority)
+    {
+        return Err(RegistryErrorCode::InvalidVaultAuthority)?;
+    }
 
     // Reward q must not yet be owned.
     let event_q = RewardEventQueue::from(reward_event_q_acc_info.data.clone());
@@ -138,24 +129,24 @@ fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
 
 #[inline(always)]
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: initialize");
+    msg!("state-transition: initialize");
 
     let StateTransitionRequest {
         registrar,
         authority,
         withdrawal_timelock,
-        vault_acc_info,
-        mega_vault_acc_info,
         nonce,
         deactivation_timelock,
         reward_activation_threshold,
-        pool_vault_acc_info,
-        pool_vault_mega_acc_info,
         pool_mint_acc_info,
         pool_mint_mega_acc_info,
         max_stake_per_entity,
         reward_event_q_acc_info,
         registrar_acc_info,
+        mint,
+        mint_mega,
+        stake_rate,
+        stake_rate_mega,
     } = req;
 
     registrar.initialized = true;
@@ -163,15 +154,15 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
     registrar.withdrawal_timelock = withdrawal_timelock;
     registrar.deactivation_timelock = deactivation_timelock;
     registrar.max_stake_per_entity = max_stake_per_entity;
-    registrar.vault = *vault_acc_info.key;
-    registrar.mega_vault = *mega_vault_acc_info.key;
     registrar.nonce = nonce;
     registrar.reward_activation_threshold = reward_activation_threshold;
-    registrar.pool_vault = *pool_vault_acc_info.key;
-    registrar.pool_vault_mega = *pool_vault_mega_acc_info.key;
     registrar.pool_mint = *pool_mint_acc_info.key;
     registrar.pool_mint_mega = *pool_mint_mega_acc_info.key;
     registrar.reward_event_q = *reward_event_q_acc_info.key;
+    registrar.mint = mint;
+    registrar.mega_mint = mint_mega;
+    registrar.stake_rate = stake_rate;
+    registrar.stake_rate_mega = stake_rate_mega;
 
     let event_q = RewardEventQueue::from(reward_event_q_acc_info.data.clone());
     event_q.set_authority(registrar_acc_info.key);
@@ -182,11 +173,7 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
 struct AccessControlRequest<'a, 'b> {
     registrar_acc_info: &'a AccountInfo<'b>,
     rent_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
-    mega_vault_acc_info: &'a AccountInfo<'b>,
     reward_event_q_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
-    pool_vault_mega_acc_info: &'a AccountInfo<'b>,
     pool_mint_acc_info: &'a AccountInfo<'b>,
     pool_mint_mega_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
@@ -194,12 +181,8 @@ struct AccessControlRequest<'a, 'b> {
 }
 
 struct StateTransitionRequest<'a, 'b, 'c> {
-    vault_acc_info: &'a AccountInfo<'b>,
-    mega_vault_acc_info: &'a AccountInfo<'b>,
     reward_event_q_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
-    pool_vault_mega_acc_info: &'a AccountInfo<'b>,
     pool_mint_acc_info: &'a AccountInfo<'b>,
     pool_mint_mega_acc_info: &'a AccountInfo<'b>,
     registrar: &'c mut Registrar,
@@ -209,4 +192,8 @@ struct StateTransitionRequest<'a, 'b, 'c> {
     withdrawal_timelock: i64,
     max_stake_per_entity: u64,
     nonce: u8,
+    mint: Pubkey,
+    mint_mega: Pubkey,
+    stake_rate: u64,
+    stake_rate_mega: u64,
 }
diff --git a/registry/program/src/lib.rs b/registry/program/src/lib.rs
index 2370544..9fa14cc 100644
--- a/registry/program/src/lib.rs
+++ b/registry/program/src/lib.rs
@@ -27,41 +27,34 @@ mod withdraw;
 
 solana_program::entrypoint!(entry);
 fn entry(program_id: &Pubkey, accounts: &[AccountInfo], instruction_data: &[u8]) -> ProgramResult {
-    // The lockup program prepends the instruction_data with a tag to tell
-    // whitelisted programs that funds are locked, since the instruction data
-    // is completely opaque to the lockup program. Without this measure,
-    // one would effectively be able to transfer funds from the lockup program
-    // freely and use those funds without restriction.
-    let (is_locked, instruction_data) = {
-        if instruction_data.len() <= 8
-            || instruction_data[..8] != serum_lockup::instruction::TAG.to_le_bytes()
-        {
-            (false, instruction_data)
-        } else {
-            (true, &instruction_data[8..])
-        }
-    };
-
     let instruction: RegistryInstruction = RegistryInstruction::unpack(instruction_data)
         .map_err(|_| RegistryError::ErrorCode(RegistryErrorCode::WrongSerialization))?;
 
     let result = match instruction {
         RegistryInstruction::Initialize {
             authority,
+            mint,
+            mint_mega,
             nonce,
             withdrawal_timelock,
             deactivation_timelock,
             reward_activation_threshold,
             max_stake_per_entity,
+            stake_rate,
+            stake_rate_mega,
         } => initialize::handler(
             program_id,
             accounts,
+            mint,
+            mint_mega,
             authority,
             nonce,
             withdrawal_timelock,
             deactivation_timelock,
             reward_activation_threshold,
             max_stake_per_entity,
+            stake_rate,
+            stake_rate_mega,
         ),
         RegistryInstruction::UpdateRegistrar {
             new_authority,
@@ -84,21 +77,17 @@ fn entry(program_id: &Pubkey, accounts: &[AccountInfo], instruction_data: &[u8])
         RegistryInstruction::UpdateEntity { leader, metadata } => {
             update_entity::handler(program_id, accounts, leader, metadata)
         }
-        RegistryInstruction::CreateMember { delegate } => {
-            create_member::handler(program_id, accounts, delegate)
+        RegistryInstruction::CreateMember => create_member::handler(program_id, accounts),
+        RegistryInstruction::UpdateMember { metadata } => {
+            update_member::handler(program_id, accounts, metadata)
         }
-        RegistryInstruction::UpdateMember { delegate, metadata } => {
-            update_member::handler(program_id, accounts, delegate, metadata)
+        RegistryInstruction::Deposit { amount } => deposit::handler(program_id, accounts, amount),
+        RegistryInstruction::Withdraw { amount } => withdraw::handler(program_id, accounts, amount),
+        RegistryInstruction::Stake { amount, balance_id } => {
+            stake::handler(program_id, accounts, amount, balance_id)
         }
-        RegistryInstruction::Deposit { amount } => {
-            deposit::handler(program_id, accounts, amount, is_locked)
-        }
-        RegistryInstruction::Withdraw { amount } => {
-            withdraw::handler(program_id, accounts, amount, is_locked)
-        }
-        RegistryInstruction::Stake { amount } => stake::handler(program_id, accounts, amount),
-        RegistryInstruction::StartStakeWithdrawal { amount } => {
-            start_stake_withdrawal::handler(program_id, accounts, amount)
+        RegistryInstruction::StartStakeWithdrawal { amount, balance_id } => {
+            start_stake_withdrawal::handler(program_id, accounts, amount, balance_id)
         }
         RegistryInstruction::EndStakeWithdrawal => {
             end_stake_withdrawal::handler(program_id, accounts)
diff --git a/registry/program/src/stake.rs b/registry/program/src/stake.rs
index ab40148..c9585e0 100644
--- a/registry/program/src/stake.rs
+++ b/registry/program/src/stake.rs
@@ -4,7 +4,7 @@ use serum_common::program::{invoke_mint_tokens, invoke_token_transfer};
 use serum_registry::access_control;
 use serum_registry::accounts::{vault, Entity, Member, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 use solana_sdk::sysvar::clock::Clock;
@@ -14,8 +14,9 @@ pub fn handler(
     program_id: &Pubkey,
     accounts: &[AccountInfo],
     spt_amount: u64,
+    ref balance_id: Pubkey,
 ) -> Result<(), RegistryError> {
-    info!("handler: stake");
+    msg!("handler: stake");
 
     let acc_infos = &mut accounts.iter();
 
@@ -23,9 +24,9 @@ pub fn handler(
     let beneficiary_acc_info = next_account_info(acc_infos)?;
     let entity_acc_info = next_account_info(acc_infos)?;
     let registrar_acc_info = next_account_info(acc_infos)?;
-    let vault_acc_info = next_account_info(acc_infos)?;
-    let vault_authority_acc_info = next_account_info(acc_infos)?;
-    let pool_vault_acc_info = next_account_info(acc_infos)?;
+    let member_vault_acc_info = next_account_info(acc_infos)?;
+    let member_vault_authority_acc_info = next_account_info(acc_infos)?;
+    let member_vault_stake_acc_info = next_account_info(acc_infos)?;
     let pool_mint_acc_info = next_account_info(acc_infos)?;
     let spt_acc_info = next_account_info(acc_infos)?;
     let clock_acc_info = next_account_info(acc_infos)?;
@@ -49,11 +50,12 @@ pub fn handler(
             program_id,
             registrar,
             registrar_acc_info,
-            vault_acc_info,
-            vault_authority_acc_info,
-            pool_vault_acc_info,
+            member_vault_acc_info,
+            member_vault_authority_acc_info,
+            member_vault_stake_acc_info,
             pool_mint_acc_info,
             spt_acc_info,
+            balance_id,
         })?;
         Member::unpack_mut(
             &mut member_acc_info.try_borrow_mut_data()?,
@@ -66,9 +68,9 @@ pub fn handler(
                     is_mega,
                     registrar,
                     registrar_acc_info,
-                    vault_acc_info,
-                    vault_authority_acc_info,
-                    pool_vault_acc_info,
+                    member_vault_acc_info,
+                    member_vault_authority_acc_info,
+                    member_vault_stake_acc_info,
                     spt_acc_info,
                     token_program_acc_info,
                     pool_mint_acc_info,
@@ -81,7 +83,7 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: stake");
+    msg!("access-control: stake");
 
     let AccessControlRequest {
         member_acc_info,
@@ -92,13 +94,16 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         spt_amount,
         entity,
         program_id,
-        vault_acc_info,
-        vault_authority_acc_info,
-        pool_vault_acc_info,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        member_vault_stake_acc_info,
         spt_acc_info,
         pool_mint_acc_info,
+        balance_id,
     } = req;
 
+    assert!(spt_amount > 0);
+
     // Beneficiary authorization.
     if !beneficiary_acc_info.is_signer {
         return Err(RegistryErrorCode::Unauthorized)?;
@@ -112,45 +117,50 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         beneficiary_acc_info,
         program_id,
     )?;
-    let _vault = access_control::vault_authenticated(
-        vault_acc_info,
-        vault_authority_acc_info,
+    let (_member_vault, is_mega) = access_control::member_vault(
+        &member,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
         registrar_acc_info,
         registrar,
         program_id,
+        balance_id,
+    )?;
+    let (_member_vault_stake, is_mega_stake) = access_control::member_vault_stake(
+        &member,
+        member_vault_stake_acc_info,
+        member_vault_authority_acc_info,
+        registrar_acc_info,
+        &registrar,
+        program_id,
+        balance_id,
+    )?;
+    assert!(is_mega == is_mega_stake);
+    let _pool_token = access_control::member_pool_token(
+        &member,
+        spt_acc_info,
+        pool_mint_acc_info,
+        balance_id,
+        is_mega,
     )?;
-    let (_pool_vault, is_mega) = access_control::pool_vault(pool_vault_acc_info, &registrar)?;
     let _pool_mint = access_control::pool_mint(pool_mint_acc_info, &registrar, is_mega)?;
-    let _pool_token =
-        access_control::pool_token(spt_acc_info, pool_mint_acc_info, &member, is_mega)?;
 
-    // Stake specific.
-    {
-        if !member.can_afford(spt_amount, is_mega) {
-            return Err(RegistryErrorCode::InsufficientStakeIntentBalance)?;
-        }
-        if !entity.meets_activation_requirements(&registrar) {
+    // Can only stake to active entities. Staking MSRM will activate.
+    if !entity.meets_activation_requirements() {
+        if !is_mega {
             return Err(RegistryErrorCode::EntityNotActivated)?;
         }
-
-        // Will this new stake put the entity over the maximum allowable limit?
-        let spt_worth = {
-            if is_mega {
-                spt_amount * 1_000_000
-            } else {
-                spt_amount
-            }
-        };
-        if spt_worth + entity.amount_equivalent() > registrar.max_stake_per_entity {
-            return Err(RegistryErrorCode::EntityMaxStake)?;
-        }
+    }
+    // Will this new stake put the entity over the maximum allowable limit?
+    if entity.stake_will_max(spt_amount, is_mega, &registrar) {
+        return Err(RegistryErrorCode::EntityMaxStake)?;
     }
 
     Ok(AccessControlResponse { is_mega })
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: stake");
+    msg!("state-transition: stake");
 
     let StateTransitionRequest {
         entity,
@@ -159,9 +169,9 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
         is_mega,
         registrar_acc_info,
         registrar,
-        vault_acc_info,
-        vault_authority_acc_info,
-        pool_vault_acc_info,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        member_vault_stake_acc_info,
         spt_acc_info,
         token_program_acc_info,
         pool_mint_acc_info,
@@ -170,29 +180,37 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
 
     let signer_seeds = vault::signer_seeds(registrar_acc_info.key, &registrar.nonce);
 
-    // Mint pool tokens.
+    // Mint pool tokens to member.
     invoke_mint_tokens(
         pool_mint_acc_info,
         spt_acc_info,
-        vault_authority_acc_info,
+        member_vault_authority_acc_info,
         token_program_acc_info,
         &[&signer_seeds],
         spt_amount,
     )?;
 
-    // Transfer from the deposit vault to pool vault.
+    // Convert from stake token units to srm/msrm units.
+    let token_amount = {
+        let rate = match is_mega {
+            false => registrar.stake_rate,
+            true => registrar.stake_rate_mega,
+        };
+        spt_amount.checked_mul(rate).unwrap()
+    };
+
+    // Transfer from deposit vault to stake vault.
     invoke_token_transfer(
-        vault_acc_info,
-        pool_vault_acc_info,
-        vault_authority_acc_info,
+        member_vault_acc_info,
+        member_vault_stake_acc_info,
+        member_vault_authority_acc_info,
         token_program_acc_info,
         &[&signer_seeds],
-        spt_amount,
+        token_amount,
     )?;
 
     // Bookeeping.
     member.last_stake_ts = clock.unix_timestamp;
-    member.spt_did_stake(spt_amount, is_mega)?;
     entity.spt_did_stake(spt_amount, is_mega)?;
 
     Ok(())
@@ -203,15 +221,16 @@ struct AccessControlRequest<'a, 'b, 'c> {
     beneficiary_acc_info: &'a AccountInfo<'b>,
     entity_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
-    vault_authority_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
+    member_vault_stake_acc_info: &'a AccountInfo<'b>,
     spt_acc_info: &'a AccountInfo<'b>,
     pool_mint_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
     registrar: &'c Registrar,
     entity: &'c Entity,
     spt_amount: u64,
+    balance_id: &'c Pubkey,
 }
 
 struct AccessControlResponse {
@@ -226,9 +245,9 @@ struct StateTransitionRequest<'a, 'b, 'c> {
     is_mega: bool,
     registrar: &'c Registrar,
     registrar_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
-    vault_authority_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
+    member_vault_stake_acc_info: &'a AccountInfo<'b>,
     spt_acc_info: &'a AccountInfo<'b>,
     token_program_acc_info: &'a AccountInfo<'b>,
     pool_mint_acc_info: &'a AccountInfo<'b>,
diff --git a/registry/program/src/start_stake_withdrawal.rs b/registry/program/src/start_stake_withdrawal.rs
index 8f880ed..d6562b9 100644
--- a/registry/program/src/start_stake_withdrawal.rs
+++ b/registry/program/src/start_stake_withdrawal.rs
@@ -3,9 +3,9 @@ use serum_common::pack::Pack;
 use serum_common::program::{invoke_burn_tokens, invoke_token_transfer};
 use serum_registry::access_control;
 use serum_registry::accounts::vault;
-use serum_registry::accounts::{Entity, Member, PendingWithdrawal, Registrar};
+use serum_registry::accounts::{Entity, PendingWithdrawal, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 use solana_sdk::sysvar::clock::Clock;
@@ -15,8 +15,9 @@ pub fn handler(
     program_id: &Pubkey,
     accounts: &[AccountInfo],
     spt_amount: u64,
+    ref balance_id: Pubkey,
 ) -> Result<(), RegistryError> {
-    info!("handler: start_stake_withdrawal");
+    msg!("handler: start_stake_withdrawal");
 
     let acc_infos = &mut accounts.iter();
 
@@ -26,9 +27,9 @@ pub fn handler(
     let beneficiary_acc_info = next_account_info(acc_infos)?;
     let entity_acc_info = next_account_info(acc_infos)?;
     let registrar_acc_info = next_account_info(acc_infos)?;
-    let vault_acc_info = next_account_info(acc_infos)?;
-    let vault_authority_acc_info = next_account_info(acc_infos)?;
-    let pool_vault_acc_info = next_account_info(acc_infos)?;
+    let member_vault_pw_acc_info = next_account_info(acc_infos)?;
+    let member_vault_authority_acc_info = next_account_info(acc_infos)?;
+    let member_vault_stake_acc_info = next_account_info(acc_infos)?;
     let pool_mint_acc_info = next_account_info(acc_infos)?;
     let spt_acc_info = next_account_info(acc_infos)?;
     let clock_acc_info = next_account_info(acc_infos)?;
@@ -52,39 +53,35 @@ pub fn handler(
             entity_acc_info,
             rent_acc_info,
             program_id,
-            vault_acc_info,
-            vault_authority_acc_info,
-            pool_vault_acc_info,
+            member_vault_pw_acc_info,
+            member_vault_authority_acc_info,
+            member_vault_stake_acc_info,
             pool_mint_acc_info,
             spt_acc_info,
             registrar,
+            balance_id,
         })?;
         PendingWithdrawal::unpack_mut(
             &mut pending_withdrawal_acc_info.try_borrow_mut_data()?,
             &mut |pending_withdrawal: &mut PendingWithdrawal| {
-                Member::unpack_mut(
-                    &mut member_acc_info.try_borrow_mut_data()?,
-                    &mut |member: &mut Member| {
-                        state_transition(StateTransitionRequest {
-                            pending_withdrawal,
-                            registrar,
-                            member,
-                            entity,
-                            member_acc_info,
-                            clock,
-                            spt_amount,
-                            tok_program_acc_info,
-                            registrar_acc_info,
-                            vault_acc_info,
-                            vault_authority_acc_info,
-                            pool_vault_acc_info,
-                            pool_mint_acc_info,
-                            spt_acc_info,
-                            is_mega,
-                        })
-                        .map_err(Into::into)
-                    },
-                )
+                state_transition(StateTransitionRequest {
+                    pending_withdrawal,
+                    registrar,
+                    entity,
+                    member_acc_info,
+                    clock,
+                    spt_amount,
+                    tok_program_acc_info,
+                    registrar_acc_info,
+                    member_vault_pw_acc_info,
+                    member_vault_authority_acc_info,
+                    member_vault_stake_acc_info,
+                    pool_mint_acc_info,
+                    spt_acc_info,
+                    is_mega,
+                    balance_id,
+                })
+                .map_err(Into::into)
             },
         )
         .map_err(Into::into)
@@ -94,7 +91,7 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: start_stake_withdrawal");
+    msg!("access-control: start_stake_withdrawal");
 
     let AccessControlRequest {
         registrar_acc_info,
@@ -104,12 +101,13 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         entity_acc_info,
         rent_acc_info,
         program_id,
-        vault_acc_info,
-        vault_authority_acc_info,
-        pool_vault_acc_info,
+        member_vault_pw_acc_info,
+        member_vault_authority_acc_info,
+        member_vault_stake_acc_info,
         pool_mint_acc_info,
         spt_acc_info,
         registrar,
+        balance_id,
     } = req;
 
     // Beneficiary authorization.
@@ -118,24 +116,40 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     }
 
     // Account validation.
-    let rent = access_control::rent(rent_acc_info)?;
     let member = access_control::member_join(
         member_acc_info,
         entity_acc_info,
         beneficiary_acc_info,
         program_id,
     )?;
-    let _vault = access_control::vault_authenticated(
-        vault_acc_info,
-        vault_authority_acc_info,
+    let (_member_vault, is_mega) = access_control::member_vault_pending_withdrawal(
+        &member,
+        member_vault_pw_acc_info,
+        member_vault_authority_acc_info,
         registrar_acc_info,
         registrar,
         program_id,
+        balance_id,
+    )?;
+    let (_member_vault_stake, is_mega_stake) = access_control::member_vault_stake(
+        &member,
+        member_vault_stake_acc_info,
+        member_vault_authority_acc_info,
+        registrar_acc_info,
+        registrar,
+        program_id,
+        balance_id,
+    )?;
+    assert!(is_mega == is_mega_stake);
+    let _pool_token = access_control::member_pool_token(
+        &member,
+        spt_acc_info,
+        pool_mint_acc_info,
+        balance_id,
+        is_mega,
     )?;
-    let (_pool_vault, is_mega) = access_control::pool_vault(pool_vault_acc_info, &registrar)?;
     let _pool_mint = access_control::pool_mint(pool_mint_acc_info, &registrar, is_mega)?;
-    let _pool_token =
-        access_control::pool_token(spt_acc_info, pool_mint_acc_info, &member, is_mega)?;
+    let rent = access_control::rent(rent_acc_info)?;
 
     // StartStakeWithdrawal specific.
     {
@@ -158,24 +172,24 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: start_stake_withdrawal");
+    msg!("state-transition: start_stake_withdrawal");
 
     let StateTransitionRequest {
         pending_withdrawal,
         registrar,
         entity,
-        member,
         member_acc_info,
         clock,
         spt_amount,
-        vault_acc_info,
-        vault_authority_acc_info,
-        pool_vault_acc_info,
+        member_vault_pw_acc_info,
+        member_vault_authority_acc_info,
+        member_vault_stake_acc_info,
         pool_mint_acc_info,
         spt_acc_info,
         tok_program_acc_info,
         registrar_acc_info,
         is_mega,
+        balance_id,
     } = req;
 
     let signer_seeds = vault::signer_seeds(registrar_acc_info.key, &registrar.nonce);
@@ -184,24 +198,32 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
     invoke_burn_tokens(
         spt_acc_info,
         pool_mint_acc_info,
-        vault_authority_acc_info,
+        member_vault_authority_acc_info,
         tok_program_acc_info,
         &[&signer_seeds],
         spt_amount,
     )?;
 
-    // Transfer from pool vault to deposit vault.
+    // Convert from stake token units to srm/msrm units.
+    let token_amount = {
+        let rate = match is_mega {
+            false => registrar.stake_rate,
+            true => registrar.stake_rate_mega,
+        };
+        spt_amount.checked_mul(rate).unwrap()
+    };
+
+    // Transfer from stake vault to pending vault.
     invoke_token_transfer(
-        pool_vault_acc_info,
-        vault_acc_info,
-        vault_authority_acc_info,
+        member_vault_stake_acc_info,
+        member_vault_pw_acc_info,
+        member_vault_authority_acc_info,
         tok_program_acc_info,
         &[&signer_seeds],
-        spt_amount,
+        token_amount,
     )?;
 
     // Bookeeping.
-    member.spt_did_unstake_start(spt_amount, is_mega);
     entity.spt_did_unstake_start(spt_amount, is_mega);
 
     // Print pending withdrawal receipt.
@@ -210,8 +232,9 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
     pending_withdrawal.member = *member_acc_info.key;
     pending_withdrawal.start_ts = clock.unix_timestamp;
     pending_withdrawal.end_ts = clock.unix_timestamp + registrar.deactivation_timelock;
-    pending_withdrawal.spt_amount = spt_amount;
-    pending_withdrawal.pool = *pool_vault_acc_info.key;
+    pending_withdrawal.amount = token_amount;
+    pending_withdrawal.pool = *pool_mint_acc_info.key;
+    pending_withdrawal.balance_id = *balance_id;
 
     Ok(())
 }
@@ -223,13 +246,14 @@ struct AccessControlRequest<'a, 'b, 'c> {
     member_acc_info: &'a AccountInfo<'b>,
     entity_acc_info: &'a AccountInfo<'b>,
     rent_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
-    vault_authority_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_pw_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
+    member_vault_stake_acc_info: &'a AccountInfo<'b>,
     pool_mint_acc_info: &'a AccountInfo<'b>,
     spt_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
     registrar: &'c Registrar,
+    balance_id: &'c Pubkey,
 }
 
 struct AccessControlResponse {
@@ -239,17 +263,17 @@ struct AccessControlResponse {
 struct StateTransitionRequest<'a, 'b, 'c> {
     member_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
-    vault_authority_acc_info: &'a AccountInfo<'b>,
+    member_vault_pw_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
     tok_program_acc_info: &'a AccountInfo<'b>,
-    pool_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_stake_acc_info: &'a AccountInfo<'b>,
     pool_mint_acc_info: &'a AccountInfo<'b>,
     spt_acc_info: &'a AccountInfo<'b>,
     pending_withdrawal: &'c mut PendingWithdrawal,
     entity: &'c mut Entity,
-    member: &'c mut Member,
     registrar: &'c Registrar,
     clock: &'c Clock,
     spt_amount: u64,
     is_mega: bool,
+    balance_id: &'c Pubkey,
 }
diff --git a/registry/program/src/switch_entity.rs b/registry/program/src/switch_entity.rs
index 32dbaf5..304c9be 100644
--- a/registry/program/src/switch_entity.rs
+++ b/registry/program/src/switch_entity.rs
@@ -1,16 +1,17 @@
 use serum_common::pack::*;
 use serum_registry::access_control;
-use serum_registry::accounts::{Entity, Member, Registrar};
+use serum_registry::accounts::{Entity, EntityState, Member, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 use solana_sdk::sysvar::clock::Clock;
+use spl_token::state::Account as TokenAccount;
 use std::convert::Into;
 
 #[inline(never)]
 pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), RegistryError> {
-    info!("handler: switch_entity");
+    msg!("handler: switch_entity");
 
     let acc_infos = &mut accounts.iter();
 
@@ -20,8 +21,21 @@ pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), Regi
     let curr_entity_acc_info = next_account_info(acc_infos)?;
     let new_entity_acc_info = next_account_info(acc_infos)?;
     let clock_acc_info = next_account_info(acc_infos)?;
+    let vault_authority_acc_info = next_account_info(acc_infos)?;
+    let mut asset_acc_infos = vec![];
+    while acc_infos.len() > 0 {
+        asset_acc_infos.push(AssetAccInfos {
+            owner_acc_info: next_account_info(acc_infos)?,
+            vault_stake_acc_info: next_account_info(acc_infos)?,
+            vault_stake_mega_acc_info: next_account_info(acc_infos)?,
+        })
+    }
 
-    let AccessControlResponse { registrar, clock } = access_control(AccessControlRequest {
+    let AccessControlResponse {
+        ref assets,
+        ref registrar,
+        ref clock,
+    } = access_control(AccessControlRequest {
         member_acc_info,
         beneficiary_acc_info,
         program_id,
@@ -29,6 +43,8 @@ pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), Regi
         curr_entity_acc_info,
         new_entity_acc_info,
         clock_acc_info,
+        asset_acc_infos,
+        vault_authority_acc_info,
     })?;
 
     Member::unpack_mut(
@@ -45,8 +61,9 @@ pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), Regi
                                 curr_entity,
                                 new_entity,
                                 member,
-                                registrar: &registrar,
-                                clock: &clock,
+                                registrar,
+                                clock,
+                                assets,
                             })
                             .map_err(Into::into)
                         },
@@ -59,8 +76,9 @@ pub fn handler(program_id: &Pubkey, accounts: &[AccountInfo]) -> Result<(), Regi
     Ok(())
 }
 
+#[inline(never)]
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: switch_entity");
+    msg!("access-control: switch_entity");
 
     let AccessControlRequest {
         member_acc_info,
@@ -70,6 +88,8 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
         curr_entity_acc_info,
         new_entity_acc_info,
         clock_acc_info,
+        asset_acc_infos,
+        vault_authority_acc_info,
     } = req;
 
     // Beneficiary authorization.
@@ -80,7 +100,7 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     // Account validation.
     let clock = access_control::clock(clock_acc_info)?;
     let registrar = access_control::registrar(registrar_acc_info, program_id)?;
-    let _member = access_control::member_join(
+    let member = access_control::member_join(
         member_acc_info,
         curr_entity_acc_info,
         beneficiary_acc_info,
@@ -89,13 +109,54 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     let _curr_entity =
         access_control::entity(curr_entity_acc_info, registrar_acc_info, program_id)?;
     let _new_entity = access_control::entity(new_entity_acc_info, registrar_acc_info, program_id)?;
+    let mut balance_ids: Vec<Pubkey> = asset_acc_infos
+        .iter()
+        .map(|a| *a.owner_acc_info.key)
+        .collect();
+    balance_ids.sort();
+    balance_ids.dedup();
+    if balance_ids.len() != member.balances.len() {
+        return Err(RegistryErrorCode::InvalidAssetsLen)?;
+    }
+    // BPF exploads when mapping so use a for loop.
+    let mut assets = vec![];
+    for a in &asset_acc_infos {
+        let (vault_stake, is_mega) = access_control::member_vault_stake(
+            &member,
+            a.vault_stake_acc_info,
+            vault_authority_acc_info,
+            registrar_acc_info,
+            &registrar,
+            program_id,
+            a.owner_acc_info.key,
+        )?;
+        assert!(!is_mega);
+        let (vault_stake_mega, is_mega) = access_control::member_vault_stake(
+            &member,
+            a.vault_stake_mega_acc_info,
+            vault_authority_acc_info,
+            registrar_acc_info,
+            &registrar,
+            program_id,
+            a.owner_acc_info.key,
+        )?;
+        assert!(is_mega);
+        assets.push(Assets {
+            vault_stake,
+            vault_stake_mega,
+        })
+    }
 
-    Ok(AccessControlResponse { registrar, clock })
+    Ok(AccessControlResponse {
+        assets,
+        registrar,
+        clock,
+    })
 }
 
-#[inline(always)]
+#[inline(never)]
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: switch_entity");
+    msg!("state-transition: switch_entity");
 
     let StateTransitionRequest {
         new_entity_acc_info,
@@ -104,16 +165,35 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
         new_entity,
         registrar,
         clock,
+        assets,
     } = req;
 
-    curr_entity.remove(member);
-    new_entity.add(member);
+    // Bump the last stake timestamp to prevent people from switching from
+    // inactive to active entities to retrieve a reward when they shouldn't.
+    if curr_entity.state == EntityState::Inactive {
+        member.last_stake_ts = clock.unix_timestamp;
+    }
 
-    curr_entity.transition_activation_if_needed(registrar, clock);
-    new_entity.transition_activation_if_needed(registrar, clock);
+    // Bookepping.
+    //
+    // Move all the assets to the new entity.
+    //
+    // Note that the assets don't actually move, as the member vaults are
+    // untouched.
+    for a in assets {
+        // Remove.
+        curr_entity.balances.spt_amount -= a.vault_stake.amount;
+        curr_entity.balances.spt_mega_amount -= a.vault_stake_mega.amount;
+        // Add.
+        new_entity.balances.spt_amount += a.vault_stake.amount;
+        new_entity.balances.spt_mega_amount += a.vault_stake_mega.amount;
+    }
 
     member.entity = *new_entity_acc_info.key;
-    member.last_stake_ts = clock.unix_timestamp;
+
+    // Trigger activation FSM.
+    curr_entity.transition_activation_if_needed(registrar, clock);
+    new_entity.transition_activation_if_needed(registrar, clock);
 
     Ok(())
 }
@@ -125,12 +205,15 @@ struct AccessControlRequest<'a, 'b> {
     curr_entity_acc_info: &'a AccountInfo<'b>,
     new_entity_acc_info: &'a AccountInfo<'b>,
     clock_acc_info: &'a AccountInfo<'b>,
+    vault_authority_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
+    asset_acc_infos: Vec<AssetAccInfos<'a, 'b>>,
 }
 
 struct AccessControlResponse {
     registrar: Registrar,
     clock: Clock,
+    assets: Vec<Assets>,
 }
 
 struct StateTransitionRequest<'a, 'b, 'c> {
@@ -140,4 +223,16 @@ struct StateTransitionRequest<'a, 'b, 'c> {
     new_entity: &'c mut Entity,
     member: &'c mut Member,
     clock: &'c Clock,
+    assets: &'c [Assets],
+}
+
+struct Assets {
+    vault_stake: TokenAccount,
+    vault_stake_mega: TokenAccount,
+}
+
+struct AssetAccInfos<'a, 'b> {
+    owner_acc_info: &'a AccountInfo<'b>,
+    vault_stake_acc_info: &'a AccountInfo<'b>,
+    vault_stake_mega_acc_info: &'a AccountInfo<'b>,
 }
diff --git a/registry/program/src/update_entity.rs b/registry/program/src/update_entity.rs
index cb3bf33..f95bc87 100644
--- a/registry/program/src/update_entity.rs
+++ b/registry/program/src/update_entity.rs
@@ -2,7 +2,7 @@ use serum_common::pack::Pack;
 use serum_registry::access_control;
 use serum_registry::accounts::Entity;
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 
@@ -13,7 +13,7 @@ pub fn handler(
     leader: Option<Pubkey>,
     metadata: Option<Pubkey>,
 ) -> Result<(), RegistryError> {
-    info!("handler: update_entity");
+    msg!("handler: update_entity");
 
     let acc_infos = &mut accounts.iter();
 
@@ -44,7 +44,7 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
-    info!("access-control: update_entity");
+    msg!("access-control: update_entity");
 
     let AccessControlRequest {
         entity_acc_info,
@@ -68,7 +68,7 @@ fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: update_entity");
+    msg!("state-transition: update_entity");
 
     let StateTransitionRequest {
         entity,
diff --git a/registry/program/src/update_member.rs b/registry/program/src/update_member.rs
index 1616f15..58f74a4 100644
--- a/registry/program/src/update_member.rs
+++ b/registry/program/src/update_member.rs
@@ -2,7 +2,7 @@ use serum_common::pack::*;
 use serum_registry::access_control;
 use serum_registry::accounts::Member;
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 use std::convert::Into;
@@ -11,10 +11,9 @@ use std::convert::Into;
 pub fn handler(
     program_id: &Pubkey,
     accounts: &[AccountInfo],
-    delegate: Option<Pubkey>,
     metadata: Option<Pubkey>,
 ) -> Result<(), RegistryError> {
-    info!("handler: update_member");
+    msg!("handler: update_member");
 
     let acc_infos = &mut accounts.iter();
 
@@ -24,19 +23,13 @@ pub fn handler(
     access_control(AccessControlRequest {
         member_acc_info,
         beneficiary_acc_info,
-        delegate,
         program_id,
     })?;
 
     Member::unpack_mut(
         &mut member_acc_info.try_borrow_mut_data()?,
         &mut |member: &mut Member| {
-            state_transition(StateTransitionRequest {
-                member,
-                delegate,
-                metadata,
-            })
-            .map_err(Into::into)
+            state_transition(StateTransitionRequest { member, metadata }).map_err(Into::into)
         },
     )?;
 
@@ -44,12 +37,11 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
-    info!("access-control: update_member");
+    msg!("access-control: update_member");
 
     let AccessControlRequest {
         member_acc_info,
         beneficiary_acc_info,
-        delegate,
         program_id,
     } = req;
 
@@ -59,31 +51,16 @@ fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
     }
 
     // Account validation.
-    let member = access_control::member(member_acc_info, beneficiary_acc_info, program_id)?;
-
-    // UpdateMember specific.
-    if delegate.is_some() {
-        // Can't overwrite the delegate if we haven't returned it's deposit.
-        if !member.balances.delegate.is_empty() {
-            return Err(RegistryErrorCode::DelegateInUse)?;
-        }
-    }
+    let _member = access_control::member(member_acc_info, beneficiary_acc_info, program_id)?;
 
     Ok(())
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: update_member");
+    msg!("state-transition: update_member");
 
-    let StateTransitionRequest {
-        member,
-        delegate,
-        metadata,
-    } = req;
+    let StateTransitionRequest { member, metadata } = req;
 
-    if let Some(d) = delegate {
-        member.set_delegate(d);
-    }
     if let Some(m) = metadata {
         member.metadata = m;
     }
@@ -95,11 +72,9 @@ struct AccessControlRequest<'a, 'b> {
     member_acc_info: &'a AccountInfo<'b>,
     beneficiary_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
-    delegate: Option<Pubkey>,
 }
 
 struct StateTransitionRequest<'a> {
     member: &'a mut Member,
-    delegate: Option<Pubkey>,
     metadata: Option<Pubkey>,
 }
diff --git a/registry/program/src/update_registrar.rs b/registry/program/src/update_registrar.rs
index 613364f..ba56456 100644
--- a/registry/program/src/update_registrar.rs
+++ b/registry/program/src/update_registrar.rs
@@ -2,7 +2,7 @@ use serum_common::pack::Pack;
 use serum_registry::access_control;
 use serum_registry::accounts::Registrar;
 use serum_registry::error::RegistryError;
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
 
@@ -16,7 +16,7 @@ pub fn handler(
     reward_activation_threshold: Option<u64>,
     max_stake_per_entity: Option<u64>,
 ) -> Result<(), RegistryError> {
-    info!("handler: initialize");
+    msg!("handler: initialize");
 
     let acc_infos = &mut accounts.iter();
 
@@ -48,7 +48,7 @@ pub fn handler(
 }
 
 fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
-    info!("access-control: update_registrar");
+    msg!("access-control: update_registrar");
 
     let AccessControlRequest {
         registrar_acc_info,
@@ -64,7 +64,7 @@ fn access_control(req: AccessControlRequest) -> Result<(), RegistryError> {
 
 #[inline(always)]
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: update_registrar");
+    msg!("state-transition: update_registrar");
 
     let StateTransitionRequest {
         registrar,
diff --git a/registry/program/src/withdraw.rs b/registry/program/src/withdraw.rs
index 4b2c05b..48629d7 100644
--- a/registry/program/src/withdraw.rs
+++ b/registry/program/src/withdraw.rs
@@ -1,23 +1,18 @@
-use crate::common::entity::{with_entity, EntityContext};
-use serum_common::pack::Pack;
 use serum_common::program::invoke_token_transfer;
 use serum_registry::access_control;
-use serum_registry::accounts::{vault, Entity, Member, Registrar};
+use serum_registry::accounts::{vault, Registrar};
 use serum_registry::error::{RegistryError, RegistryErrorCode};
-use solana_program::info;
+use solana_program::msg;
 use solana_sdk::account_info::{next_account_info, AccountInfo};
 use solana_sdk::pubkey::Pubkey;
-use solana_sdk::sysvar::clock::Clock;
-use spl_token::state::Account as TokenAccount;
 
 #[inline(never)]
 pub fn handler(
     program_id: &Pubkey,
     accounts: &[AccountInfo],
     amount: u64,
-    delegate: bool,
 ) -> Result<(), RegistryError> {
-    info!("handler: withdraw");
+    msg!("handler: withdraw");
 
     let acc_infos = &mut accounts.iter();
 
@@ -25,79 +20,54 @@ pub fn handler(
     let depositor_acc_info = next_account_info(acc_infos)?;
     let depositor_authority_acc_info = next_account_info(acc_infos)?;
     let token_program_acc_info = next_account_info(acc_infos)?;
-    let vault_acc_info = next_account_info(acc_infos)?;
-    let vault_authority_acc_info = next_account_info(acc_infos)?;
+    let member_vault_acc_info = next_account_info(acc_infos)?;
+    let member_vault_authority_acc_info = next_account_info(acc_infos)?;
 
     // Program specfic.
     let member_acc_info = next_account_info(acc_infos)?;
     let beneficiary_acc_info = next_account_info(acc_infos)?;
     let entity_acc_info = next_account_info(acc_infos)?;
     let registrar_acc_info = next_account_info(acc_infos)?;
-    let clock_acc_info = next_account_info(acc_infos)?;
 
-    let ctx = EntityContext {
+    let AccessControlResponse { ref registrar } = access_control(AccessControlRequest {
+        member_vault_authority_acc_info,
+        depositor_acc_info,
+        member_acc_info,
+        beneficiary_acc_info,
         entity_acc_info,
-        registrar_acc_info,
-        clock_acc_info,
+        member_vault_acc_info,
         program_id,
-    };
-    with_entity(ctx, &mut |entity: &mut Entity,
-                           registrar: &Registrar,
-                           _: &Clock| {
-        let AccessControlResponse { ref depositor } = access_control(AccessControlRequest {
-            vault_authority_acc_info,
-            depositor_acc_info,
-            member_acc_info,
-            beneficiary_acc_info,
-            entity_acc_info,
-            vault_acc_info,
-            program_id,
-            registrar_acc_info,
-            registrar,
-            depositor_authority_acc_info,
-            amount,
-            delegate,
-        })?;
-        Member::unpack_mut(
-            &mut member_acc_info.try_borrow_mut_data()?,
-            &mut |member: &mut Member| {
-                state_transition(StateTransitionRequest {
-                    entity,
-                    member,
-                    amount,
-                    registrar: &registrar,
-                    registrar_acc_info,
-                    vault_acc_info,
-                    vault_authority_acc_info,
-                    depositor_acc_info,
-                    token_program_acc_info,
-                    depositor,
-                })
-                .map_err(Into::into)
-            },
-        )
-        .map_err(Into::into)
+        registrar_acc_info,
+        depositor_authority_acc_info,
+        amount,
+    })?;
+    state_transition(StateTransitionRequest {
+        amount,
+        registrar,
+        registrar_acc_info,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        depositor_acc_info,
+        token_program_acc_info,
     })?;
 
     Ok(())
 }
 
 fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, RegistryError> {
-    info!("access-control: withdraw");
+    msg!("access-control: withdraw");
 
     let AccessControlRequest {
-        vault_authority_acc_info,
+        member_vault_authority_acc_info,
         depositor_acc_info,
         member_acc_info,
         beneficiary_acc_info,
         entity_acc_info,
-        vault_acc_info,
+        member_vault_acc_info,
         registrar_acc_info,
-        registrar,
         depositor_authority_acc_info,
         program_id,
         amount,
-        delegate,
     } = req;
 
     // Authorization.
@@ -109,57 +79,52 @@ fn access_control(req: AccessControlRequest) -> Result<AccessControlResponse, Re
     }
 
     // Account validation.
+    let registrar = access_control::registrar(registrar_acc_info, program_id)?;
+    let _depositor = access_control::token(depositor_acc_info, depositor_authority_acc_info.key)?;
     let member = access_control::member_join(
         member_acc_info,
         entity_acc_info,
         beneficiary_acc_info,
         program_id,
     )?;
-    let _vault = access_control::vault_authenticated(
-        vault_acc_info,
-        vault_authority_acc_info,
+    let (member_vault, _is_mega) = access_control::member_vault(
+        &member,
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
         registrar_acc_info,
         &registrar,
         program_id,
+        depositor_authority_acc_info.key,
     )?;
 
     // Withdraw specific.
     //
-    // Authenticate the delegate boolean.
-    let depositor = access_control::token(depositor_acc_info, depositor_authority_acc_info.key)?;
-    if delegate != (depositor.owner == member.balances.delegate.owner) {
-        return Err(RegistryErrorCode::DepositorOwnerDelegateMismatch)?;
-    }
     // Do we have enough funds for the withdrawal?
-    let is_mega = registrar.is_mega(*vault_acc_info.key)?;
-    if !member.can_withdraw(amount, is_mega, depositor.owner)? {
+    if !member_vault.amount < amount {
         return Err(RegistryErrorCode::InsufficientBalance)?;
     }
 
-    Ok(AccessControlResponse { depositor })
+    Ok(AccessControlResponse { registrar })
 }
 
 fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
-    info!("state-transition: withdraw");
+    msg!("state-transition: withdraw");
 
     let StateTransitionRequest {
-        entity,
-        member,
         amount,
         registrar,
         registrar_acc_info,
-        vault_authority_acc_info,
+        member_vault_authority_acc_info,
         depositor_acc_info,
-        depositor,
-        vault_acc_info,
+        member_vault_acc_info,
         token_program_acc_info,
     } = req;
 
-    // Transfer funds from the program vault back to the original depositor.
+    // Transfer tokens out.
     invoke_token_transfer(
-        vault_acc_info,
+        member_vault_acc_info,
         depositor_acc_info,
-        vault_authority_acc_info,
+        member_vault_authority_acc_info,
         token_program_acc_info,
         &[&vault::signer_seeds(
             registrar_acc_info.key,
@@ -168,43 +133,32 @@ fn state_transition(req: StateTransitionRequest) -> Result<(), RegistryError> {
         amount,
     )?;
 
-    let is_mega = registrar.is_mega(*vault_acc_info.key)?;
-    member.did_withdraw(amount, is_mega, depositor.owner);
-    entity.did_withdraw(amount, is_mega);
-
-    info!("state-transition: success");
-
     Ok(())
 }
 
-struct AccessControlRequest<'a, 'b, 'c> {
+struct AccessControlRequest<'a, 'b> {
     registrar_acc_info: &'a AccountInfo<'b>,
-    vault_authority_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
     depositor_acc_info: &'a AccountInfo<'b>,
     depositor_authority_acc_info: &'a AccountInfo<'b>,
     member_acc_info: &'a AccountInfo<'b>,
     beneficiary_acc_info: &'a AccountInfo<'b>,
     entity_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_acc_info: &'a AccountInfo<'b>,
     program_id: &'a Pubkey,
-    registrar: &'c Registrar,
     amount: u64,
-    delegate: bool,
 }
 
 struct AccessControlResponse {
-    depositor: TokenAccount,
+    registrar: Registrar,
 }
 
 struct StateTransitionRequest<'a, 'b, 'c> {
     registrar_acc_info: &'a AccountInfo<'b>,
-    vault_acc_info: &'a AccountInfo<'b>,
-    vault_authority_acc_info: &'a AccountInfo<'b>,
+    member_vault_acc_info: &'a AccountInfo<'b>,
+    member_vault_authority_acc_info: &'a AccountInfo<'b>,
     depositor_acc_info: &'a AccountInfo<'b>,
     token_program_acc_info: &'a AccountInfo<'b>,
-    entity: &'c mut Entity,
-    member: &'c mut Member,
     registrar: &'c Registrar,
-    depositor: &'c TokenAccount,
     amount: u64,
 }
diff --git a/registry/src/access_control.rs b/registry/src/access_control.rs
index 47f0a4c..eac1deb 100644
--- a/registry/src/access_control.rs
+++ b/registry/src/access_control.rs
@@ -1,7 +1,7 @@
 use crate::accounts::reward_queue::Ring;
 use crate::accounts::{
-    vault, Entity, LockedRewardVendor, Member, PendingWithdrawal, Registrar, RewardEventQueue,
-    UnlockedRewardVendor,
+    vault, BalanceSandbox, Entity, LockedRewardVendor, Member, PendingWithdrawal, Registrar,
+    RewardEventQueue, UnlockedRewardVendor,
 };
 use crate::error::{RegistryError, RegistryErrorCode};
 use serum_common::pack::*;
@@ -12,6 +12,7 @@ use solana_client_gen::solana_sdk::pubkey::Pubkey;
 use solana_client_gen::solana_sdk::sysvar::clock::Clock;
 use solana_client_gen::solana_sdk::sysvar::rent::Rent;
 use solana_client_gen::solana_sdk::sysvar::Sysvar;
+use solana_sdk::program_option::COption;
 use spl_token::state::{Account as TokenAccount, Mint};
 
 #[inline]
@@ -41,6 +42,7 @@ pub fn registrar(acc_info: &AccountInfo, program_id: &Pubkey) -> Result<Registra
     Ok(registrar)
 }
 
+#[inline(never)]
 pub fn entity(
     acc_info: &AccountInfo,
     registrar_acc_info: &AccountInfo,
@@ -71,17 +73,6 @@ pub fn entity_check(
     Ok(())
 }
 
-pub fn delegate_check(
-    member: &Member,
-    delegate_owner_acc_info: Option<&AccountInfo>,
-    is_delegate: bool,
-) -> Result<(), RegistryError> {
-    if is_delegate && *delegate_owner_acc_info.unwrap().key != member.balances.delegate.owner {
-        return Err(RegistryErrorCode::MemberDelegateMismatch)?;
-    }
-    Ok(())
-}
-
 pub fn member(
     acc_info: &AccountInfo,
     beneficiary_acc_info: &AccountInfo,
@@ -178,6 +169,115 @@ pub fn member_raw(
     Ok(m)
 }
 
+#[inline(never)]
+pub fn member_vault(
+    member: &Member,
+    member_vault_acc_info: &AccountInfo,
+    member_vault_authority_acc_info: &AccountInfo,
+    registrar_acc_info: &AccountInfo,
+    registrar: &Registrar,
+    program_id: &Pubkey,
+    balance_id: &Pubkey,
+) -> Result<(TokenAccount, bool), RegistryError> {
+    let member_vault = vault_authenticated(
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        registrar_acc_info,
+        &registrar,
+        program_id,
+    )?;
+    let b = member
+        .balances
+        .iter()
+        .filter(|b| &b.owner == balance_id)
+        .collect::<Vec<&BalanceSandbox>>();
+    let balances = b.first().ok_or(RegistryErrorCode::InvalidBalanceSandbox)?;
+
+    let is_mega = {
+        if &balances.vault != member_vault_acc_info.key
+            && &balances.vault_mega != member_vault_acc_info.key
+        {
+            return Err(RegistryErrorCode::InvalidVault)?;
+        }
+        member_vault_acc_info.key == &balances.vault_mega
+    };
+
+    Ok((member_vault, is_mega))
+}
+
+#[inline(never)]
+pub fn member_vault_stake(
+    member: &Member,
+    member_vault_acc_info: &AccountInfo,
+    member_vault_authority_acc_info: &AccountInfo,
+    registrar_acc_info: &AccountInfo,
+    registrar: &Registrar,
+    program_id: &Pubkey,
+    balance_id: &Pubkey,
+) -> Result<(TokenAccount, bool), RegistryError> {
+    let member_vault = vault_authenticated(
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        registrar_acc_info,
+        &registrar,
+        program_id,
+    )?;
+
+    let b = member
+        .balances
+        .iter()
+        .filter(|b| &b.owner == balance_id)
+        .collect::<Vec<&BalanceSandbox>>();
+    let balances = b.first().ok_or(RegistryErrorCode::InvalidBalanceSandbox)?;
+
+    let is_mega = {
+        if member_vault_acc_info.key != &balances.vault_stake
+            && member_vault_acc_info.key != &balances.vault_stake_mega
+        {
+            return Err(RegistryErrorCode::InvalidStakeVault)?;
+        }
+        member_vault_acc_info.key == &balances.vault_stake_mega
+    };
+
+    Ok((member_vault, is_mega))
+}
+
+pub fn member_vault_pending_withdrawal(
+    member: &Member,
+    member_vault_acc_info: &AccountInfo,
+    member_vault_authority_acc_info: &AccountInfo,
+    registrar_acc_info: &AccountInfo,
+    registrar: &Registrar,
+    program_id: &Pubkey,
+    balance_id: &Pubkey,
+) -> Result<(TokenAccount, bool), RegistryError> {
+    let member_vault = vault_authenticated(
+        member_vault_acc_info,
+        member_vault_authority_acc_info,
+        registrar_acc_info,
+        &registrar,
+        program_id,
+    )?;
+
+    let b = member
+        .balances
+        .iter()
+        .filter(|b| &b.owner == balance_id)
+        .collect::<Vec<&BalanceSandbox>>();
+    let balances = b.first().ok_or(RegistryErrorCode::InvalidBalanceSandbox)?;
+
+    let is_mega = {
+        if member_vault_acc_info.key != &balances.vault_pending_withdrawal
+            && member_vault_acc_info.key != &balances.vault_pending_withdrawal_mega
+        {
+            return Err(RegistryErrorCode::InvalidPendingWithdrawalVault)?;
+        }
+        member_vault_acc_info.key == &balances.vault_pending_withdrawal_mega
+    };
+
+    Ok((member_vault, is_mega))
+}
+
 pub fn reward_event_q<'a, 'b, 'c>(
     reward_event_q_acc_info: &'a AccountInfo<'b>,
     registrar_acc_info: &'a AccountInfo<'b>,
@@ -197,23 +297,6 @@ pub fn reward_event_q<'a, 'b, 'c>(
     Ok(q)
 }
 
-pub fn pool_vault(
-    pool_vault_acc_info: &AccountInfo,
-    registrar: &Registrar,
-) -> Result<(TokenAccount, bool), RegistryError> {
-    let v = token_account(pool_vault_acc_info)?;
-
-    if pool_vault_acc_info.key != &registrar.pool_vault
-        && pool_vault_acc_info.key != &registrar.pool_vault_mega
-    {
-        return Err(RegistryErrorCode::InvalidVault)?;
-    }
-
-    let is_mega = pool_vault_acc_info.key == &registrar.pool_vault_mega;
-
-    Ok((v, is_mega))
-}
-
 pub fn pool_mint(
     pool_mint_acc_info: &AccountInfo,
     registrar: &Registrar,
@@ -234,25 +317,33 @@ pub fn pool_mint(
     Ok(mint)
 }
 
-pub fn pool_token(
+pub fn member_pool_token(
+    member: &Member,
     pool_token_acc_info: &AccountInfo,
     pool_mint_acc_info: &AccountInfo,
-    member: &Member,
+    balance_id: &Pubkey,
     is_mega: bool,
 ) -> Result<TokenAccount, RegistryError> {
+    let b = member
+        .balances
+        .iter()
+        .filter(|b| &b.owner == balance_id)
+        .collect::<Vec<&BalanceSandbox>>();
+    let balances = b.first().ok_or(RegistryErrorCode::InvalidBalanceSandbox)?;
+
     if is_mega {
-        if &member.spt_mega != pool_token_acc_info.key {
+        if &balances.spt_mega != pool_token_acc_info.key {
             return Err(RegistryErrorCode::InvalidPoolToken)?;
         }
     } else {
-        if &member.spt != pool_token_acc_info.key {
+        if &balances.spt != pool_token_acc_info.key {
             return Err(RegistryErrorCode::InvalidPoolToken)?;
         }
     }
 
     let token = token_account(pool_token_acc_info)?;
     if &token.mint != pool_mint_acc_info.key {
-        return Err(RegistryErrorCode::InvalidPoolTokenMint)?;
+        return Err(RegistryErrorCode::InvalidPoolToken)?;
     }
 
     Ok(token)
@@ -274,16 +365,12 @@ pub fn vault_authenticated(
     Ok(v)
 }
 
-pub fn vault(
+fn vault(
     acc_info: &AccountInfo,
     registrar_acc_info: &AccountInfo,
     registrar: &Registrar,
     program_id: &Pubkey,
 ) -> Result<TokenAccount, RegistryError> {
-    if registrar.vault != *acc_info.key && registrar.mega_vault != *acc_info.key {
-        return Err(RegistryErrorCode::RegistrarVaultMismatch)?;
-    }
-
     let vault = TokenAccount::unpack(&acc_info.try_borrow_data()?)?;
 
     let expected_vault_auth = Pubkey::create_program_address(
@@ -298,13 +385,76 @@ pub fn vault(
     Ok(vault)
 }
 
+pub fn vault_pair(
+    vault_acc_info: &AccountInfo,
+    vault_mega_acc_info: &AccountInfo,
+    registrar_acc_info: &AccountInfo,
+    registrar: &Registrar,
+    rent: &Rent,
+    program_id: &Pubkey,
+) -> Result<(), RegistryError> {
+    let v = vault_init(
+        vault_acc_info,
+        registrar_acc_info,
+        rent,
+        registrar.nonce,
+        program_id,
+    )?;
+    let v_mega = vault_init(
+        vault_mega_acc_info,
+        registrar_acc_info,
+        rent,
+        registrar.nonce,
+        program_id,
+    )?;
+
+    if v.mint != registrar.mint {
+        return Err(RegistryErrorCode::InvalidMint)?;
+    }
+    if v_mega.mint != registrar.mega_mint {
+        return Err(RegistryErrorCode::InvalidMint)?;
+    }
+    Ok(())
+}
+
+pub fn pool_token_pair(
+    spt_acc_info: &AccountInfo,
+    spt_mega_acc_info: &AccountInfo,
+    registrar: &Registrar,
+    registry_signer_acc_info: &AccountInfo,
+) -> Result<(), RegistryError> {
+    let spt = TokenAccount::unpack(&spt_acc_info.try_borrow_data()?)?;
+    let spt_mega = TokenAccount::unpack(&spt_mega_acc_info.try_borrow_data()?)?;
+    // Pool token owner must be the program derived address.
+    // Delegate must be None, since it will be set in this instruction.
+    if spt.delegate != COption::None {
+        return Err(RegistryErrorCode::SptDelegateAlreadySet)?;
+    }
+    if spt.owner != *registry_signer_acc_info.key {
+        return Err(RegistryErrorCode::InvalidStakeTokenOwner)?;
+    }
+    if spt.mint != registrar.pool_mint {
+        return Err(RegistryErrorCode::InvalidMint)?;
+    }
+    if spt_mega.delegate != COption::None {
+        return Err(RegistryErrorCode::SptDelegateAlreadySet)?;
+    }
+    if spt_mega.owner != *registry_signer_acc_info.key {
+        return Err(RegistryErrorCode::InvalidStakeTokenOwner)?;
+    }
+    if spt_mega.mint != registrar.pool_mint_mega {
+        return Err(RegistryErrorCode::InvalidMint)?;
+    }
+    Ok(())
+}
+
 pub fn vault_init(
     vault_acc_info: &AccountInfo,
     registrar_acc_info: &AccountInfo,
     rent: &Rent,
     nonce: u8,
     program_id: &Pubkey,
-) -> Result<(), RegistryError> {
+) -> Result<TokenAccount, RegistryError> {
     let vault_authority = Pubkey::create_program_address(
         &vault::signer_seeds(registrar_acc_info.key, &nonce),
         program_id,
@@ -317,7 +467,7 @@ pub fn vault_init(
     if !rent.is_exempt(vault_acc_info.lamports(), vault_acc_info.try_data_len()?) {
         return Err(RegistryErrorCode::NotRentExempt)?;
     }
-    Ok(())
+    Ok(vault)
 }
 
 pub fn pending_withdrawal(
@@ -373,6 +523,78 @@ pub fn unlocked_reward_vendor(
     Ok(vendor)
 }
 
+pub fn balance_sandbox(
+    balances: &[BalanceSandboxAccInfo],
+    registrar_acc_info: &AccountInfo,
+    registrar: &Registrar,
+    registry_signer_acc_info: &AccountInfo,
+    rent: &Rent,
+    program_id: &Pubkey,
+) -> Result<(), RegistryError> {
+    // Only allow two sets of balances for now (main and locked).
+    if balances.len() != 2 {
+        return Err(RegistryErrorCode::InvalidAssetsLen)?;
+    }
+    // Check the given balance assets are all unique accounts.
+    let mut all_accounts = vec![];
+    for b in balances {
+        // Pool Tokens.
+        pool_token_pair(
+            b.spt_acc_info,
+            b.spt_mega_acc_info,
+            registrar,
+            registry_signer_acc_info,
+        )?;
+
+        // Deposits.
+        vault_pair(
+            b.vault_acc_info,
+            b.vault_mega_acc_info,
+            registrar_acc_info,
+            &registrar,
+            &rent,
+            program_id,
+        )?;
+        // Stake.
+        vault_pair(
+            b.vault_stake_acc_info,
+            b.vault_stake_mega_acc_info,
+            registrar_acc_info,
+            &registrar,
+            &rent,
+            program_id,
+        )?;
+        // Pending withdrawals.
+        vault_pair(
+            b.vault_pw_acc_info,
+            b.vault_pw_mega_acc_info,
+            registrar_acc_info,
+            &registrar,
+            &rent,
+            program_id,
+        )?;
+
+        all_accounts.extend_from_slice(&[
+            b.owner_acc_info.key,
+            b.spt_acc_info.key,
+            b.spt_mega_acc_info.key,
+            b.vault_acc_info.key,
+            b.vault_mega_acc_info.key,
+            b.vault_stake_acc_info.key,
+            b.vault_stake_mega_acc_info.key,
+            b.vault_pw_acc_info.key,
+            b.vault_pw_mega_acc_info.key,
+        ]);
+    }
+    let given_len = all_accounts.len();
+    all_accounts.sort();
+    all_accounts.dedup();
+    if given_len != all_accounts.len() {
+        return Err(RegistryErrorCode::InvalidAssetsLen)?;
+    }
+    Ok(())
+}
+
 pub fn token(acc_info: &AccountInfo, authority: &Pubkey) -> Result<TokenAccount, RegistryError> {
     let token = token_account(acc_info)?;
     if token.owner != *authority {
@@ -413,3 +635,15 @@ pub fn mint(acc_info: &AccountInfo) -> Result<Mint, RegistryError> {
 
     Mint::unpack(&acc_info.try_borrow_data()?).map_err(Into::into)
 }
+
+pub struct BalanceSandboxAccInfo<'a, 'b> {
+    pub owner_acc_info: &'a AccountInfo<'b>,
+    pub spt_acc_info: &'a AccountInfo<'b>,
+    pub spt_mega_acc_info: &'a AccountInfo<'b>,
+    pub vault_acc_info: &'a AccountInfo<'b>,
+    pub vault_mega_acc_info: &'a AccountInfo<'b>,
+    pub vault_stake_acc_info: &'a AccountInfo<'b>,
+    pub vault_stake_mega_acc_info: &'a AccountInfo<'b>,
+    pub vault_pw_acc_info: &'a AccountInfo<'b>,
+    pub vault_pw_mega_acc_info: &'a AccountInfo<'b>,
+}
diff --git a/registry/src/accounts/entity.rs b/registry/src/accounts/entity.rs
index e5226b6..9488a5b 100644
--- a/registry/src/accounts/entity.rs
+++ b/registry/src/accounts/entity.rs
@@ -1,4 +1,4 @@
-use crate::accounts::{Member, Registrar};
+use crate::accounts::Registrar;
 use crate::error::RegistryError;
 use borsh::{BorshDeserialize, BorshSchema, BorshSerialize};
 use serum_common::pack::*;
@@ -12,6 +12,12 @@ lazy_static::lazy_static! {
                 .expect("Entity has a fixed size");
 }
 
+// Conversion from base unit of SRM to base unit of MSRM.
+//
+// SRM has 6 decimals. MSRM ~ 1_000_000 SRM => 1 unit of
+// the MSRM mint == 10**6 * 1_000_000 units of the SRM mint.
+const MSRM_SRM_RATE: u64 = 1_000_000_000_000;
+
 #[derive(Clone, Debug, BorshSerialize, BorshDeserialize, BorshSchema)]
 pub struct Entity {
     /// Set when this entity is registered.
@@ -45,47 +51,11 @@ impl Default for Entity {
 }
 
 impl Entity {
-    pub fn remove(&mut self, member: &mut Member) {
-        self.balances.current_deposit -= member.balances.current_deposit;
-        self.balances.current_mega_deposit -= member.balances.current_mega_deposit;
-        self.balances.spt_amount -= member.balances.spt_amount;
-        self.balances.spt_mega_amount -= member.balances.spt_mega_amount;
-    }
-
-    pub fn add(&mut self, member: &mut Member) {
-        self.balances.current_deposit += member.balances.current_deposit;
-        self.balances.current_mega_deposit += member.balances.current_mega_deposit;
-        self.balances.spt_amount += member.balances.spt_amount;
-        self.balances.spt_mega_amount += member.balances.spt_mega_amount;
-    }
-
-    pub fn activation_amount(&self) -> u64 {
-        self.amount_equivalent() + self.current_deposit_equivalent()
-    }
-
-    pub fn did_deposit(&mut self, amount: u64, mega: bool) {
-        if mega {
-            self.balances.current_mega_deposit += amount;
-        } else {
-            self.balances.current_deposit += amount;
-        }
-    }
-
-    pub fn did_withdraw(&mut self, amount: u64, mega: bool) {
-        if mega {
-            self.balances.current_mega_deposit -= amount;
-        } else {
-            self.balances.current_deposit -= amount;
-        }
-    }
-
     pub fn spt_did_stake(&mut self, amount: u64, is_mega: bool) -> Result<(), RegistryError> {
         if is_mega {
             self.balances.spt_mega_amount += amount;
-            self.balances.current_mega_deposit -= amount;
         } else {
             self.balances.spt_amount += amount;
-            self.balances.current_deposit -= amount;
         }
 
         Ok(())
@@ -99,19 +69,11 @@ impl Entity {
         }
     }
 
-    pub fn spt_did_unstake_end(&mut self, amount: u64, is_mega: bool) {
-        if is_mega {
-            self.balances.current_mega_deposit += amount;
-        } else {
-            self.balances.current_deposit += amount;
-        }
-    }
-
     #[inline(never)]
     pub fn transition_activation_if_needed(&mut self, registrar: &Registrar, clock: &Clock) {
         match self.state {
             EntityState::Inactive => {
-                if self.meets_activation_requirements(registrar) {
+                if self.meets_activation_requirements() {
                     self.state = EntityState::Active;
                 }
             }
@@ -122,12 +84,12 @@ impl Entity {
                 if clock.unix_timestamp > deactivation_start_ts + timelock {
                     self.state = EntityState::Inactive;
                 }
-                if self.meets_activation_requirements(registrar) {
+                if self.meets_activation_requirements() {
                     self.state = EntityState::Active;
                 }
             }
             EntityState::Active => {
-                if !self.meets_activation_requirements(registrar) {
+                if !self.meets_activation_requirements() {
                     self.state = EntityState::PendingDeactivation {
                         deactivation_start_ts: clock.unix_timestamp,
                         timelock: registrar.deactivation_timelock,
@@ -137,27 +99,40 @@ impl Entity {
         }
     }
 
-    /// Returns true if this Entity is capable of being "activated", i.e., can
-    /// enter the staking pool.
-    pub fn meets_activation_requirements(&self, registrar: &Registrar) -> bool {
-        self.activation_amount() >= registrar.reward_activation_threshold
-            && (self.balances.spt_mega_amount >= 1 || self.balances.current_mega_deposit >= 1)
+    pub fn meets_activation_requirements(&self) -> bool {
+        self.balances.spt_mega_amount >= 1
     }
 
-    pub fn slash(&mut self, spt_amount: u64, mega: bool) {
-        if mega {
-            self.balances.spt_mega_amount -= spt_amount;
-        } else {
-            self.balances.spt_amount -= spt_amount;
-        }
-    }
-
-    pub fn amount_equivalent(&self) -> u64 {
-        self.balances.spt_amount + self.balances.spt_mega_amount * 1_000_000
-    }
-
-    fn current_deposit_equivalent(&self) -> u64 {
-        self.balances.current_deposit + self.balances.current_mega_deposit * 1_000_000
+    pub fn stake_will_max(&self, spt_amount: u64, is_mega: bool, registrar: &Registrar) -> bool {
+        let spt_value = {
+            if is_mega {
+                spt_amount
+                    .checked_mul(registrar.stake_rate_mega)
+                    .unwrap()
+                    .checked_mul(MSRM_SRM_RATE)
+                    .unwrap()
+            } else {
+                spt_amount.checked_mul(registrar.stake_rate).unwrap()
+            }
+        };
+        let amount_equivalent = spt_value
+            .checked_add(
+                self.balances
+                    .spt_amount
+                    .checked_mul(registrar.stake_rate)
+                    .unwrap(),
+            )
+            .unwrap()
+            .checked_add(
+                self.balances
+                    .spt_mega_amount
+                    .checked_mul(registrar.stake_rate_mega)
+                    .unwrap()
+                    .checked_mul(MSRM_SRM_RATE)
+                    .unwrap(),
+            )
+            .unwrap();
+        amount_equivalent > registrar.max_stake_per_entity
     }
 }
 
@@ -168,9 +143,6 @@ pub struct Balances {
     // Denominated in staking pool tokens.
     pub spt_amount: u64,
     pub spt_mega_amount: u64,
-    // Denominated in SRM/MSRM.
-    pub current_deposit: u64,
-    pub current_mega_deposit: u64,
 }
 
 #[derive(Clone, Debug, BorshSerialize, BorshDeserialize, BorshSchema, PartialEq)]
diff --git a/registry/src/accounts/member.rs b/registry/src/accounts/member.rs
index 0ae37f7..5851ae6 100644
--- a/registry/src/accounts/member.rs
+++ b/registry/src/accounts/member.rs
@@ -1,5 +1,4 @@
-use crate::error::{RegistryError, RegistryErrorCode};
-use borsh::{BorshDeserialize, BorshSchema, BorshSerialize};
+use borsh::{BorshDeserialize, BorshSerialize};
 use serum_common::pack::*;
 use solana_client_gen::solana_sdk::pubkey::Pubkey;
 
@@ -10,7 +9,7 @@ lazy_static::lazy_static! {
                 .expect("Member has a fixed size");
 }
 
-#[derive(Default, Debug, BorshSerialize, BorshDeserialize)]
+#[derive(Debug, BorshSerialize, BorshDeserialize)]
 pub struct Member {
     /// Set by the program on creation.
     pub initialized: bool,
@@ -20,226 +19,58 @@ pub struct Member {
     pub beneficiary: Pubkey,
     /// Entity providing membership.
     pub entity: Pubkey,
-    /// SRM, MSRM, and staking pool token balances.
-    pub balances: MemberBalances,
     /// Arbitrary metadata account owned by any program.
     pub metadata: Pubkey,
-    /// Staking pool token account.
-    pub spt: Pubkey,
-    /// Mega staking pool token account.
-    pub spt_mega: Pubkey,
+    /// Sets of balances owned by the Member. Two for now: main and locked.
+    pub balances: Vec<BalanceSandbox>,
     /// Next position in the rewards event queue to process.
     pub rewards_cursor: u32,
-    /// The clock timestamp of the last time this account staked/unstaked.
+    /// The clock timestamp of the last time this account staked or switched
+    /// entities.
+    // TODO: For v2 we should keep a queue tracking each time the member staked
+    //       or unstaked. Then reward vendors can deduce the amount members
+    //       had staked at time of reward. For now, we use the last_stake_ts
+    //       as an overly harsh mechanism for ensuring rewards are only
+    //       given to those that were staked at the right time.
     pub last_stake_ts: i64,
 }
 
-impl Member {
-    pub fn can_afford(&self, spt_amount: u64, mega: bool) -> bool {
-        if mega {
-            if self.balances.current_mega_deposit < spt_amount {
-                return false;
-            }
-        } else {
-            if self.balances.current_deposit < spt_amount {
-                return false;
-            }
-        }
-        true
-    }
-
-    pub fn can_withdraw(
-        &self,
-        amount: u64,
-        mega: bool,
-        owner: Pubkey,
-    ) -> Result<bool, RegistryError> {
-        let delegate = self.balances.delegate.owner == owner;
-
-        // In both cases, we need to be able to 1) cover the withdrawal
-        // with our *current* stake intent vault balances and also
-        // cover any future withdrawals needed to cover the cost basis
-        // of the delegate account. That is, all locked SRM/MSRM coming into the
-        // program must eventually go back.
-        if mega {
-            if amount > self.balances.current_mega_deposit {
-                return Err(RegistryErrorCode::InsufficientStakeIntentBalance)?;
-            }
-            if !delegate {
-                let remaining_msrm =
-                    self.balances.spt_mega_amount + self.balances.current_mega_deposit - amount;
-                if remaining_msrm < self.balances.delegate.mega_deposit {
-                    return Err(RegistryErrorCode::InsufficientBalance)?;
-                }
-            }
-        } else {
-            if amount > self.balances.current_deposit {
-                return Err(RegistryErrorCode::InsufficientStakeIntentBalance)?;
-            }
-            if !delegate {
-                let remaining_srm =
-                    self.balances.spt_amount + self.balances.current_deposit - amount;
-                if remaining_srm < self.balances.delegate.deposit {
-                    return Err(RegistryErrorCode::InsufficientBalance)?;
-                }
-            }
-        }
-
-        Ok(true)
-    }
-
-    pub fn stake_is_empty(&self) -> bool {
-        self.balances.spt_amount == 0 && self.balances.spt_mega_amount == 0
-    }
-
-    pub fn set_delegate(&mut self, delegate: Pubkey) {
-        assert!(self.balances.delegate.deposit == 0);
-        assert!(self.balances.delegate.mega_deposit == 0);
-        self.balances.delegate = OriginalDeposit::new(delegate);
-    }
-
-    pub fn did_deposit(&mut self, amount: u64, mega: bool, owner: Pubkey) {
-        if mega {
-            self.balances.current_mega_deposit += amount;
-        } else {
-            self.balances.current_deposit += amount;
-        }
-
-        let delegate = owner == self.balances.delegate.owner;
-        if delegate {
-            if mega {
-                self.balances.delegate.mega_deposit += amount;
-            } else {
-                self.balances.delegate.deposit += amount;
-            }
-        } else {
-            if mega {
-                self.balances.main.mega_deposit += amount;
-            } else {
-                self.balances.main.deposit += amount;
-            }
+impl Default for Member {
+    fn default() -> Member {
+        Member {
+            initialized: false,
+            registrar: Pubkey::new_from_array([0; 32]),
+            beneficiary: Pubkey::new_from_array([0; 32]),
+            entity: Pubkey::new_from_array([0; 32]),
+            metadata: Pubkey::new_from_array([0; 32]),
+            balances: vec![BalanceSandbox::default(), BalanceSandbox::default()],
+            rewards_cursor: 0,
+            last_stake_ts: 0,
         }
     }
+}
 
-    pub fn did_withdraw(&mut self, amount: u64, mega: bool, owner: Pubkey) {
-        if mega {
-            self.balances.current_mega_deposit -= amount;
-        } else {
-            self.balances.current_deposit -= amount;
-        }
-
-        let delegate = owner == self.balances.delegate.owner;
-        if delegate {
-            if mega {
-                self.balances.delegate.mega_deposit -= amount;
-            } else {
-                self.balances.delegate.deposit -= amount;
-            }
-        } else {
-            if mega {
-                self.balances.main.mega_deposit -= amount;
-            } else {
-                self.balances.main.deposit -= amount;
-            }
-        }
-    }
-
-    pub fn spt_did_stake(&mut self, amount: u64, mega: bool) -> Result<(), RegistryError> {
-        if mega {
-            self.balances.spt_mega_amount =
-                self.balances.spt_mega_amount.checked_add(amount).unwrap();
-            self.balances.current_mega_deposit = self
-                .balances
-                .current_mega_deposit
-                .checked_sub(amount)
-                .unwrap();
-        } else {
-            self.balances.spt_amount = self.balances.spt_amount.checked_add(amount).unwrap();
-            self.balances.current_deposit =
-                self.balances.current_deposit.checked_sub(amount).unwrap();
-        }
-
-        Ok(())
-    }
-
-    pub fn spt_did_unstake_start(&mut self, spt_amount: u64, mega: bool) {
-        if mega {
-            self.balances.spt_mega_amount = self
-                .balances
-                .spt_mega_amount
-                .checked_sub(spt_amount)
-                .unwrap();
-        } else {
-            self.balances.spt_amount = self.balances.spt_amount.checked_sub(spt_amount).unwrap();
-        }
-    }
-
-    pub fn spt_did_unstake_end(&mut self, amount: u64, is_mega: bool) {
-        if is_mega {
-            self.balances.current_mega_deposit += amount;
-        } else {
-            self.balances.current_deposit += amount;
-        }
-    }
+// BalanceSandbox defines isolated funds that can only be deposited/withdrawn
+// into the program if the `owner` signs off on the transaction.
+//
+// Once controlled by the program, the associated `Member` account's beneficiary
+// can send funds to/from any of the accounts within the sandbox, e.g., to
+// stake.
+#[derive(Default, Debug, BorshSerialize, BorshDeserialize)]
+pub struct BalanceSandbox {
+    pub owner: Pubkey,
+    // Staking pool token.
+    pub spt: Pubkey,
+    pub spt_mega: Pubkey,
+    // Free balance (deposit) vaults.
+    pub vault: Pubkey,
+    pub vault_mega: Pubkey,
+    // Stake vaults.
+    pub vault_stake: Pubkey,
+    pub vault_stake_mega: Pubkey,
+    // Pending withdrawal vaults.
+    pub vault_pending_withdrawal: Pubkey,
+    pub vault_pending_withdrawal_mega: Pubkey,
 }
 
 serum_common::packable!(Member);
-
-#[derive(Default, Debug, BorshSerialize, BorshDeserialize, BorshSchema)]
-pub struct MemberBalances {
-    // The amount of SPT tokens in the SRM pool.
-    pub spt_amount: u64,
-    // The amount of SPT tokens in the MSRM pool.
-    pub spt_mega_amount: u64,
-    // SRM in the current_deposit vault.
-    pub current_deposit: u64,
-    // MSRM in the current_deposit vault.
-    pub current_mega_deposit: u64,
-    // Original deposit.
-    pub main: OriginalDeposit,
-    // Original deposit from delegate.
-    pub delegate: OriginalDeposit,
-}
-
-impl MemberBalances {
-    pub fn new(beneficiary: Pubkey, delegate: Pubkey) -> Self {
-        Self {
-            spt_amount: 0,
-            spt_mega_amount: 0,
-            current_deposit: 0,
-            current_mega_deposit: 0,
-            main: OriginalDeposit::new(beneficiary),
-            delegate: OriginalDeposit::new(delegate),
-        }
-    }
-
-    pub fn stake_is_empty(&self) -> bool {
-        self.spt_amount + self.spt_mega_amount == 0
-    }
-}
-
-// OriginalDeposit tracks the amount of tokens originally deposited into a Member
-// account. These funds might be in either the deposit vault or the pool.
-//
-// It is used to track the amount of funds that must be returned to delegate
-// programs, e.g., the lockup program.
-#[derive(Default, Debug, BorshSerialize, BorshDeserialize, BorshSchema)]
-pub struct OriginalDeposit {
-    pub owner: Pubkey,
-    pub deposit: u64,
-    pub mega_deposit: u64,
-}
-
-impl OriginalDeposit {
-    pub fn new(owner: Pubkey) -> Self {
-        Self {
-            owner,
-            deposit: 0,
-            mega_deposit: 0,
-        }
-    }
-
-    pub fn is_empty(&self) -> bool {
-        self.deposit + self.mega_deposit == 0
-    }
-}
diff --git a/registry/src/accounts/mod.rs b/registry/src/accounts/mod.rs
index f170377..bb82012 100644
--- a/registry/src/accounts/mod.rs
+++ b/registry/src/accounts/mod.rs
@@ -4,13 +4,12 @@ pub mod member;
 pub mod pending_withdrawal;
 pub mod registrar;
 pub mod reward_queue;
-mod ring;
 pub mod unlocked_reward_vendor;
 pub mod vault;
 
 pub use entity::{Entity, EntityState};
 pub use locked_reward_vendor::LockedRewardVendor;
-pub use member::{Member, MemberBalances};
+pub use member::{BalanceSandbox, Member};
 pub use pending_withdrawal::PendingWithdrawal;
 pub use registrar::Registrar;
 pub use reward_queue::{RewardEvent, RewardEventQueue};
diff --git a/registry/src/accounts/pending_withdrawal.rs b/registry/src/accounts/pending_withdrawal.rs
index 21c574e..2602a73 100644
--- a/registry/src/accounts/pending_withdrawal.rs
+++ b/registry/src/accounts/pending_withdrawal.rs
@@ -23,8 +23,9 @@ pub struct PendingWithdrawal {
     pub start_ts: i64,
     /// Timestamp when the pending withdrawal completes.
     pub end_ts: i64,
-    /// The number of staking pool tokens redeemed.
-    pub spt_amount: u64,
+    /// The number of tokens redeemed from the staking pool.
+    pub amount: u64,
+    pub balance_id: Pubkey,
 }
 
 serum_common::packable!(PendingWithdrawal);
diff --git a/registry/src/accounts/registrar.rs b/registry/src/accounts/registrar.rs
index d20e5c5..20db3d4 100644
--- a/registry/src/accounts/registrar.rs
+++ b/registry/src/accounts/registrar.rs
@@ -1,4 +1,3 @@
-use crate::error::{RegistryError, RegistryErrorCode};
 use borsh::{BorshDeserialize, BorshSchema, BorshSerialize};
 use serum_common::pack::*;
 use solana_client_gen::solana_sdk::pubkey::Pubkey;
@@ -29,32 +28,21 @@ pub struct Registrar {
     /// Number of seconds it takes for an Entity to be "deactivated", from the
     /// moment it's SRM/MSRM amount drops below the required threshold.
     pub deactivation_timelock: i64,
-    ///
+    /// Global event queue for reward vendoring.
     pub reward_event_q: Pubkey,
-    /// Vault holding deposit tokens.
-    pub vault: Pubkey,
-    /// Vault holding deposit mega tokens.
-    pub mega_vault: Pubkey,
-    /// Address of the SRM staking pool.
-    pub pool_vault: Pubkey,
-    /// Address of the MSRM staking pool.
-    pub pool_vault_mega: Pubkey,
-    ///
+    /// Mint of the tokens that can be staked.
+    pub mint: Pubkey,
+    /// Mint of the mega tokens that can be staked.
+    pub mega_mint: Pubkey,
+    /// Staking pool token mint.
     pub pool_mint: Pubkey,
-    ///
+    /// Staking pool (mega) token mint.
     pub pool_mint_mega: Pubkey,
-}
-
-impl Registrar {
-    pub fn is_mega(&self, key: Pubkey) -> Result<bool, RegistryError> {
-        if key == self.vault {
-            Ok(false)
-        } else if key == self.mega_vault {
-            Ok(true)
-        } else {
-            Err(RegistryErrorCode::InvalidVault.into())
-        }
-    }
+    /// The amount of tokens (not decimal) that must be staked to get a single
+    /// staking pool token.
+    pub stake_rate: u64,
+    /// Stake rate for the mega pool.
+    pub stake_rate_mega: u64,
 }
 
 serum_common::packable!(Registrar);
diff --git a/registry/src/accounts/reward_queue.rs b/registry/src/accounts/reward_queue.rs
index 96ab8b6..04af2b5 100644
--- a/registry/src/accounts/reward_queue.rs
+++ b/registry/src/accounts/reward_queue.rs
@@ -1,17 +1,14 @@
-use crate::error::{RegistryError, RegistryErrorCode};
-use arrayref::array_mut_ref;
 use borsh::{BorshDeserialize, BorshSerialize};
 use serum_common::pack::*;
 use solana_client_gen::solana_sdk::pubkey::Pubkey;
 use std::cell::RefCell;
-use std::convert::Into;
 use std::rc::Rc;
 
 // Largest reward variant size.
 const MAX_RING_ITEM_SIZE: u32 = 137;
 
 // Generate the Ring trait.
-crate::ring!(MAX_RING_ITEM_SIZE);
+serum_common::ring!(MAX_RING_ITEM_SIZE);
 
 pub struct RewardEventQueue<'a> {
     pub storage: Rc<RefCell<&'a mut [u8]>>,
@@ -25,7 +22,9 @@ impl<'a> RewardEventQueue<'a> {
     }
 }
 
-impl<'a> Ring<'a, RewardEvent> for RewardEventQueue<'a> {
+impl<'a> Ring<'a> for RewardEventQueue<'a> {
+    type Item = RewardEvent;
+
     fn buffer(&self) -> Rc<RefCell<&'a mut [u8]>> {
         self.storage.clone()
     }
@@ -60,11 +59,11 @@ mod tests {
     #[test]
     fn measure() {
         let e = RewardEvent::LockedAlloc {
-            from: Pubkey::new_rand(),
+            from: Pubkey::new_unique(),
             total: 0,
-            pool: Pubkey::new_rand(),
-            vendor: Pubkey::new_rand(),
-            mint: Pubkey::new_rand(),
+            pool: Pubkey::new_unique(),
+            vendor: Pubkey::new_unique(),
+            mint: Pubkey::new_unique(),
         };
         println!("TEST: {:?}", e.try_to_vec().unwrap().len());
     }
diff --git a/registry/src/error.rs b/registry/src/error.rs
index 1d95bef..4ae6957 100644
--- a/registry/src/error.rs
+++ b/registry/src/error.rs
@@ -76,6 +76,10 @@ pub enum RegistryErrorCode {
     InvalidPoolToken = 62,
     InvariantViolation = 63,
     InsufficientReward = 64,
+    InvalidBalanceSandbox = 65,
+    InvalidSpt = 66,
+    InvalidPendingWithdrawalVault = 67,
+    InvalidStakeVault = 68,
     Unknown = 1000,
 }
 
diff --git a/registry/src/lib.rs b/registry/src/lib.rs
index c24b16f..014cf50 100644
--- a/registry/src/lib.rs
+++ b/registry/src/lib.rs
@@ -25,11 +25,15 @@ pub mod instruction {
         /// 6. `[]`         Rent sysvar.
         Initialize {
             authority: Pubkey,
+            mint: Pubkey,
+            mint_mega: Pubkey,
             nonce: u8,
             withdrawal_timelock: i64,
             deactivation_timelock: i64,
             reward_activation_threshold: u64,
             max_stake_per_entity: u64,
+            stake_rate: u64,
+            stake_rate_mega: u64,
         },
         /// Accounts:
         ///
@@ -67,16 +71,12 @@ pub mod instruction {
         /// 2. `[]`         Staking pool token.
         /// 3. `[]`         Mega staking pool token.
         /// 4. `[]`         Rent sysvar.
-        CreateMember { delegate: Pubkey },
+        CreateMember,
         /// Accounts:
         ///
         /// 0. `[writable]` Member.
         /// 1. `[signer]`   Beneficiary.
-        UpdateMember {
-            /// Delegate's OriginalDeposit must be 0, if updated.
-            delegate: Option<Pubkey>,
-            metadata: Option<Pubkey>,
-        },
+        UpdateMember { metadata: Option<Pubkey> },
         /// Accounts:
         ///
         /// 0. `[writable]` Member.
@@ -105,8 +105,6 @@ pub mod instruction {
         /// 7. `[]`         Clock.
         /// 8. `[]`         Vault (either the MSRM or SRM vault depending on
         ///                 depositor's mint).
-        ///
-        /// ..              GetBasket pool accounts.
         Deposit { amount: u64 },
         /// Accounts:
         ///
@@ -126,8 +124,6 @@ pub mod instruction {
         /// 8. `[]`         Clock.
         /// 9. `[]`         Vault (either the MSRM or SRM vault depending on
         ///                 depositor's mint).
-        ///
-        /// ..              GetBasket pool accounts.
         Withdraw { amount: u64 },
         /// Accounts:
         ///
@@ -137,9 +133,7 @@ pub mod instruction {
         /// 3. `[]`         Registrar.
         /// 4. `[]`         Clock sysvar.
         /// 5. `[]`         Token program.
-        ///
-        /// ..              Execute pool accounts.
-        Stake { amount: u64 },
+        Stake { amount: u64, balance_id: Pubkey },
         /// Accounts:
         ///
         /// 0. `[writable]  PendingWithdrawal.
@@ -151,12 +145,7 @@ pub mod instruction {
         /// 7. `[]`         Token program.
         /// 8. `[]`         Clock sysvar.
         /// 9. `[]`         Rent sysvar.
-        ///
-        /// ..              Execute pool accounts.
-        ///
-        /// -1. `[]`        Generation (optional). Can be provided when
-        ///                 withdrawing from an *inactive* entity.
-        StartStakeWithdrawal { amount: u64 },
+        StartStakeWithdrawal { amount: u64, balance_id: Pubkey },
         /// Accounts:
         ///
         /// 0. `[writable]  PendingWithdrawal.
diff --git a/registry/tests/lifecycle.rs b/registry/tests/lifecycle.rs
index 8729074..c5de112 100644
--- a/registry/tests/lifecycle.rs
+++ b/registry/tests/lifecycle.rs
@@ -42,10 +42,7 @@ fn lifecycle() {
     let registrar_authority = Keypair::generate(&mut OsRng);
 
     let InitializeResponse {
-        registrar,
-        nonce,
-        pool_vault,
-        ..
+        registrar, nonce, ..
     } = client
         .initialize(InitializeRequest {
             registrar_authority: registrar_authority.pubkey(),
@@ -55,17 +52,18 @@ fn lifecycle() {
             mega_mint: msrm_mint.pubkey(),
             reward_activation_threshold,
             max_stake_per_entity,
+            stake_rate: 1,
+            stake_rate_mega: 1,
         })
         .unwrap();
+
     // Verify initialization.
-    {
-        let registrar = client.registrar(&registrar).unwrap();
-        assert_eq!(registrar.initialized, true);
-        assert_eq!(registrar.authority, registrar_authority.pubkey());
-    }
+    let _registrar = client.registrar(&registrar).unwrap();
+    assert_eq!(_registrar.initialized, true);
+    assert_eq!(_registrar.authority, registrar_authority.pubkey());
 
     // Initialize the lockup program, vesting account, and whitelist the
-    // registrar so that we can stake locked srm.
+    // registrar so that we can stake lockedacc srm.
     let (l_client, safe, vesting, vesting_beneficiary) = {
         let l_pid: Pubkey = std::env::var("TEST_LOCKUP_PROGRAM_ID")
             .unwrap()
@@ -135,7 +133,7 @@ fn lifecycle() {
 
     // Update entity.
     {
-        let new_leader = Pubkey::new_rand();
+        let new_leader = Pubkey::new_unique();
         let _ = client
             .update_entity(UpdateEntityRequest {
                 entity,
@@ -169,12 +167,6 @@ fn lifecycle() {
         assert_eq!(member_account.initialized, true);
         assert_eq!(member_account.entity, entity);
         assert_eq!(member_account.beneficiary, beneficiary.pubkey());
-        assert_eq!(
-            member_account.balances.delegate.owner,
-            vesting_vault_authority,
-        );
-        assert_eq!(member_account.balances.spt_amount, 0);
-        assert_eq!(member_account.balances.spt_mega_amount, 0);
         member
     };
 
@@ -194,7 +186,7 @@ fn lifecycle() {
                 amount: current_deposit_amount,
             })
             .unwrap();
-        let vault = client.current_deposit_vault(&registrar).unwrap();
+        let vault = client.current_deposit_vault(&member, false).unwrap();
         assert_eq!(current_deposit_amount, vault.amount);
         let god_acc = rpc::get_token_account::<TokenAccount>(client.rpc(), &god.pubkey()).unwrap();
         assert_eq!(god_acc.amount, god_balance_before - current_deposit_amount);
@@ -212,7 +204,7 @@ fn lifecycle() {
                 amount: current_deposit_amount,
             })
             .unwrap();
-        let vault = client.current_deposit_vault(&registrar).unwrap();
+        let vault = client.current_deposit_vault(&member, false).unwrap();
         assert_eq!(0, vault.amount);
         let god_acc = rpc::get_token_account::<TokenAccount>(client.rpc(), &god.pubkey()).unwrap();
         assert_eq!(god_acc.amount, god_balance_before);
@@ -224,7 +216,6 @@ fn lifecycle() {
         l_client
             .registry_deposit(RegistryDepositRequest {
                 amount: current_deposit_amount,
-                is_mega: false,
                 registry_pid: *client.program(),
                 registrar,
                 member,
@@ -235,7 +226,7 @@ fn lifecycle() {
                 safe,
             })
             .unwrap();
-        let vault = client.current_deposit_vault(&registrar).unwrap();
+        let vault = client.current_deposit_vault(&member, true).unwrap();
         assert_eq!(current_deposit_amount, vault.amount);
         let l_vault = l_client.vault_for(&vesting).unwrap();
         assert_eq!(l_vault_amount - current_deposit_amount, l_vault.amount);
@@ -246,7 +237,6 @@ fn lifecycle() {
         l_client
             .registry_withdraw(RegistryWithdrawRequest {
                 amount: current_deposit_amount,
-                is_mega: false,
                 registry_pid: *client.program(),
                 registrar,
                 member,
@@ -257,7 +247,7 @@ fn lifecycle() {
                 safe,
             })
             .unwrap();
-        let vault = client.current_deposit_vault(&registrar).unwrap();
+        let vault = client.current_deposit_vault(&member, true).unwrap();
         assert_eq!(0, vault.amount);
         let l_vault = l_client.vault_for(&vesting).unwrap();
         assert_eq!(l_vault_amount, l_vault.amount);
@@ -288,9 +278,10 @@ fn lifecycle() {
                 beneficiary,
                 pool_token_amount: 1,
                 mega: true,
+                balance_id: client.payer().pubkey(),
             })
             .unwrap();
-        let user_pool_token_acc = client.mega_pool_token(&member).unwrap().account;
+        let user_pool_token_acc = client.mega_pool_token(&member, false).unwrap().account;
         assert_eq!(user_pool_token_acc.amount, 1);
         assert_eq!(
             user_pool_token_acc.owner,
@@ -300,7 +291,7 @@ fn lifecycle() {
             user_pool_token_acc.delegate,
             COption::Some(beneficiary.pubkey()),
         );
-        let msrm_vault = client.stake_mega_pool_asset_vaults(&registrar).unwrap();
+        let msrm_vault = client.stake_mega_pool_asset_vault(&member, false).unwrap();
         assert_eq!(msrm_vault.amount, 1);
     }
 
@@ -328,9 +319,10 @@ fn lifecycle() {
             beneficiary,
             pool_token_amount: current_deposit_amount,
             mega: false,
+            balance_id: client.payer().pubkey(),
         })
         .unwrap();
-    let user_pool_token_acc = client.pool_token(&member).unwrap().account;
+    let user_pool_token_acc = client.pool_token(&member, false).unwrap().account;
     assert_eq!(user_pool_token_acc.amount, current_deposit_amount);
     assert_eq!(
         user_pool_token_acc.owner,
@@ -341,10 +333,10 @@ fn lifecycle() {
         COption::Some(beneficiary.pubkey()),
     );
 
-    let pool_vault_acc = client.stake_pool_asset_vault(&registrar).unwrap();
+    let pool_vault_acc = client.stake_pool_asset_vault(&member, false).unwrap();
     assert_eq!(pool_vault_acc.amount, current_deposit_amount);
 
-    let vault = client.current_deposit_vault(&registrar).unwrap();
+    let vault = client.current_deposit_vault(&member, false).unwrap();
     assert_eq!(vault.amount, 0);
 
     // Stake withdrawal start.
@@ -360,22 +352,22 @@ fn lifecycle() {
                 beneficiary,
                 spt_amount: current_deposit_amount,
                 mega: false,
+                balance_id: client.payer().pubkey(),
             })
             .unwrap();
 
-        let member_acc = client.member(&member).unwrap();
-        assert_eq!(member_acc.balances.spt_amount, 0);
-        assert_eq!(member_acc.balances.current_deposit, 0);
+        let vault = client.current_deposit_vault(&member, false).unwrap();
+        assert_eq!(vault.amount, 0);
 
-        let vault = client.current_deposit_vault(&registrar).unwrap();
-        assert_eq!(vault.amount, current_deposit_amount);
-
-        let user_pool_token = client.pool_token(&member).unwrap().account;
+        let user_pool_token = client.pool_token(&member, false).unwrap().account;
         assert_eq!(user_pool_token.amount, 0);
 
-        let pool_vault_acc = client.stake_pool_asset_vault(&registrar).unwrap();
+        let pool_vault_acc = client.stake_pool_asset_vault(&member, false).unwrap();
         assert_eq!(pool_vault_acc.amount, 0);
 
+        let pending_withdrawal_vault = client.pending_withdrawal_vault(&member, false).unwrap();
+        assert_eq!(pending_withdrawal_vault.amount, current_deposit_amount);
+
         // PendingWithdrawal.
         let pending_withdrawal_acc = client.pending_withdrawal(&pending_withdrawal).unwrap();
         assert_eq!(pending_withdrawal_acc.initialized, true);
@@ -384,8 +376,8 @@ fn lifecycle() {
             pending_withdrawal_acc.end_ts,
             pending_withdrawal_acc.start_ts + deactivation_timelock
         );
-        assert_eq!(pending_withdrawal_acc.spt_amount, current_deposit_amount);
-        assert_eq!(pending_withdrawal_acc.pool, pool_vault);
+        assert_eq!(pending_withdrawal_acc.amount, current_deposit_amount);
+        assert_eq!(pending_withdrawal_acc.pool, _registrar.pool_mint);
         pending_withdrawal
     };
 
@@ -402,12 +394,9 @@ fn lifecycle() {
                 pending_withdrawal,
             })
             .unwrap();
-        let vault = client.current_deposit_vault(&registrar).unwrap();
+        let vault = client.current_deposit_vault(&member, false).unwrap();
         assert_eq!(vault.amount, current_deposit_amount);
-
-        let member = client.member(&member).unwrap();
-        assert_eq!(member.balances.spt_amount, 0);
-        assert_eq!(member.balances.current_deposit, current_deposit_amount);
+        assert_eq!(client.pool_token(&member, false).unwrap().account.amount, 0);
     }
 
     // Withdraw MSRM.
diff --git a/scripts/deploy-staking.sh b/scripts/deploy-staking.sh
index 695e364..8b3c555 100755
--- a/scripts/deploy-staking.sh
+++ b/scripts/deploy-staking.sh
@@ -9,6 +9,15 @@
 
 CLUSTER=l
 #CLUSTER=devnet
+DEACTIVATION_TIMELOCK=60
+WITHDRAWAL_TIMELOCK=60
+# 100_000_000 million SRM (6 decimals)
+MAX_STAKE_PER_ENTITY=100000000000000
+# 1 SRM to stake.
+STAKE_RATE=1000000
+# 1 MSRM to stake.
+STAKE_RATE_MEGA=1
+REWARD_ACTIVATION_THRESHOLD=1
 
 main() {
     # First generate the genesis state, with the SRM/MSRM mints and
@@ -54,10 +63,12 @@ main() {
           --msrm-mint $msrm_mint \
           registry --pid $registry_pid \
           init \
-          --deactivation-timelock 60 \
-          --reward-activation-threshold 1 \
-          --withdrawal-timelock 60 \
-          --max-stake-per-entity 100000000)
+          --deactivation-timelock $DEACTIVATION_TIMELOCK \
+          --reward-activation-threshold $REWARD_ACTIVATION_THRESHOLD \
+          --withdrawal-timelock $WITHDRAWAL_TIMELOCK \
+          --max-stake-per-entity $MAX_STAKE_PER_ENTITY \
+					--stake-rate $STAKE_RATE \
+					--stake-rate-mega $STAKE_RATE_MEGA)
     local registrar=$(echo $rInit | jq .registrar -r)
 		local registrar_nonce=$(echo $rInit | jq .nonce -r)
 		local reward_q=$(echo $rInit | jq .rewardEventQueue -r)