diff --git a/indexer/packages/v4-protos/src/codegen/dydxprotocol/listing/tx.ts b/indexer/packages/v4-protos/src/codegen/dydxprotocol/listing/tx.ts
index c1210fdd39..fda20a00b7 100644
--- a/indexer/packages/v4-protos/src/codegen/dydxprotocol/listing/tx.ts
+++ b/indexer/packages/v4-protos/src/codegen/dydxprotocol/listing/tx.ts
@@ -1,3 +1,4 @@
+import { SubaccountId, SubaccountIdSDKType } from "../subaccounts/subaccount";
 import * as _m0 from "protobufjs/minimal";
 import { DeepPartial } from "../../helpers";
 /**
@@ -28,6 +29,36 @@ export interface MsgSetMarketsHardCapResponse {}
 /** MsgSetMarketsHardCapResponse defines the MsgSetMarketsHardCap response */
 
 export interface MsgSetMarketsHardCapResponseSDKType {}
+/** MsgCreateMarketPermissionless is a message used to create new markets without // going through x/gov */
+
+export interface MsgCreateMarketPermissionless {
+  /** The name of the `Perpetual` (e.g. `BTC-USD`). */
+  ticker: string;
+  /** The subaccount to deposit from. */
+
+  subaccountId?: SubaccountId;
+  /** Number of quote quantums to deposit. */
+
+  quoteQuantums: Uint8Array;
+}
+/** MsgCreateMarketPermissionless is a message used to create new markets without // going through x/gov */
+
+export interface MsgCreateMarketPermissionlessSDKType {
+  /** The name of the `Perpetual` (e.g. `BTC-USD`). */
+  ticker: string;
+  /** The subaccount to deposit from. */
+
+  subaccount_id?: SubaccountIdSDKType;
+  /** Number of quote quantums to deposit. */
+
+  quote_quantums: Uint8Array;
+}
+/** MsgCreateMarketPermissionlessResponse defines the MsgCreateMarketPermissionless response */
+
+export interface MsgCreateMarketPermissionlessResponse {}
+/** MsgCreateMarketPermissionlessResponse defines the MsgCreateMarketPermissionless response */
+
+export interface MsgCreateMarketPermissionlessResponseSDKType {}
 
 function createBaseMsgSetMarketsHardCap(): MsgSetMarketsHardCap {
   return {
@@ -116,4 +147,103 @@ export const MsgSetMarketsHardCapResponse = {
     return message;
   }
 
+};
+
+function createBaseMsgCreateMarketPermissionless(): MsgCreateMarketPermissionless {
+  return {
+    ticker: "",
+    subaccountId: undefined,
+    quoteQuantums: new Uint8Array()
+  };
+}
+
+export const MsgCreateMarketPermissionless = {
+  encode(message: MsgCreateMarketPermissionless, writer: _m0.Writer = _m0.Writer.create()): _m0.Writer {
+    if (message.ticker !== "") {
+      writer.uint32(10).string(message.ticker);
+    }
+
+    if (message.subaccountId !== undefined) {
+      SubaccountId.encode(message.subaccountId, writer.uint32(18).fork()).ldelim();
+    }
+
+    if (message.quoteQuantums.length !== 0) {
+      writer.uint32(26).bytes(message.quoteQuantums);
+    }
+
+    return writer;
+  },
+
+  decode(input: _m0.Reader | Uint8Array, length?: number): MsgCreateMarketPermissionless {
+    const reader = input instanceof _m0.Reader ? input : new _m0.Reader(input);
+    let end = length === undefined ? reader.len : reader.pos + length;
+    const message = createBaseMsgCreateMarketPermissionless();
+
+    while (reader.pos < end) {
+      const tag = reader.uint32();
+
+      switch (tag >>> 3) {
+        case 1:
+          message.ticker = reader.string();
+          break;
+
+        case 2:
+          message.subaccountId = SubaccountId.decode(reader, reader.uint32());
+          break;
+
+        case 3:
+          message.quoteQuantums = reader.bytes();
+          break;
+
+        default:
+          reader.skipType(tag & 7);
+          break;
+      }
+    }
+
+    return message;
+  },
+
+  fromPartial(object: DeepPartial<MsgCreateMarketPermissionless>): MsgCreateMarketPermissionless {
+    const message = createBaseMsgCreateMarketPermissionless();
+    message.ticker = object.ticker ?? "";
+    message.subaccountId = object.subaccountId !== undefined && object.subaccountId !== null ? SubaccountId.fromPartial(object.subaccountId) : undefined;
+    message.quoteQuantums = object.quoteQuantums ?? new Uint8Array();
+    return message;
+  }
+
+};
+
+function createBaseMsgCreateMarketPermissionlessResponse(): MsgCreateMarketPermissionlessResponse {
+  return {};
+}
+
+export const MsgCreateMarketPermissionlessResponse = {
+  encode(_: MsgCreateMarketPermissionlessResponse, writer: _m0.Writer = _m0.Writer.create()): _m0.Writer {
+    return writer;
+  },
+
+  decode(input: _m0.Reader | Uint8Array, length?: number): MsgCreateMarketPermissionlessResponse {
+    const reader = input instanceof _m0.Reader ? input : new _m0.Reader(input);
+    let end = length === undefined ? reader.len : reader.pos + length;
+    const message = createBaseMsgCreateMarketPermissionlessResponse();
+
+    while (reader.pos < end) {
+      const tag = reader.uint32();
+
+      switch (tag >>> 3) {
+        default:
+          reader.skipType(tag & 7);
+          break;
+      }
+    }
+
+    return message;
+  },
+
+  fromPartial(_: DeepPartial<MsgCreateMarketPermissionlessResponse>): MsgCreateMarketPermissionlessResponse {
+    const message = createBaseMsgCreateMarketPermissionlessResponse();
+    return message;
+  }
+
 };
\ No newline at end of file
diff --git a/proto/dydxprotocol/listing/tx.proto b/proto/dydxprotocol/listing/tx.proto
index 7a853ab619..31e4a2548a 100644
--- a/proto/dydxprotocol/listing/tx.proto
+++ b/proto/dydxprotocol/listing/tx.proto
@@ -3,6 +3,9 @@ package dydxprotocol.listing;
 
 import "cosmos_proto/cosmos.proto";
 import "cosmos/msg/v1/msg.proto";
+import "gogoproto/gogo.proto";
+import "dydxprotocol/subaccounts/subaccount.proto";
+
 
 option go_package = "github.com/dydxprotocol/v4-chain/protocol/x/listing/types";
 
@@ -27,3 +30,24 @@ message MsgSetMarketsHardCap {
 
 // MsgSetMarketsHardCapResponse defines the MsgSetMarketsHardCap response
 message MsgSetMarketsHardCapResponse {}
+
+// MsgCreateMarketPermissionless is a message used to create new markets without // going through x/gov
+message MsgCreateMarketPermissionless {
+  option (cosmos.msg.v1.signer) = "subaccount_id";
+
+  // The name of the `Perpetual` (e.g. `BTC-USD`).
+  string ticker = 1;
+
+  // The subaccount to deposit from.
+  dydxprotocol.subaccounts.SubaccountId subaccount_id = 2;
+
+  // Number of quote quantums to deposit.
+  bytes quote_quantums = 3 [
+    (gogoproto.customtype) =
+        "github.com/dydxprotocol/v4-chain/protocol/dtypes.SerializableInt",
+    (gogoproto.nullable) = false
+  ];
+}
+
+// MsgCreateMarketPermissionlessResponse defines the MsgCreateMarketPermissionless response
+message MsgCreateMarketPermissionlessResponse {}
diff --git a/protocol/app/msgs/all_msgs.go b/protocol/app/msgs/all_msgs.go
index 14019a0896..5899cc2b2b 100644
--- a/protocol/app/msgs/all_msgs.go
+++ b/protocol/app/msgs/all_msgs.go
@@ -197,8 +197,10 @@ var (
 		"/dydxprotocol.govplus.MsgSlashValidatorResponse": {},
 
 		// listing
-		"/dydxprotocol.listing.MsgSetMarketsHardCap":         {},
-		"/dydxprotocol.listing.MsgSetMarketsHardCapResponse": {},
+		"/dydxprotocol.listing.MsgSetMarketsHardCap":                  {},
+		"/dydxprotocol.listing.MsgSetMarketsHardCapResponse":          {},
+		"/dydxprotocol.listing.MsgCreateMarketPermissionless":         {},
+		"/dydxprotocol.listing.MsgCreateMarketPermissionlessResponse": {},
 
 		// perpetuals
 		"/dydxprotocol.perpetuals.MsgAddPremiumVotes":               {},
diff --git a/protocol/app/msgs/internal_msgs.go b/protocol/app/msgs/internal_msgs.go
index a1a2889af0..74c6d44cef 100644
--- a/protocol/app/msgs/internal_msgs.go
+++ b/protocol/app/msgs/internal_msgs.go
@@ -144,8 +144,10 @@ var (
 		"/dydxprotocol.govplus.MsgSlashValidatorResponse": nil,
 
 		// listing
-		"/dydxprotocol.listing.MsgSetMarketsHardCap":         &listing.MsgSetMarketsHardCap{},
-		"/dydxprotocol.listing.MsgSetMarketsHardCapResponse": nil,
+		"/dydxprotocol.listing.MsgSetMarketsHardCap":                  &listing.MsgSetMarketsHardCap{},
+		"/dydxprotocol.listing.MsgSetMarketsHardCapResponse":          nil,
+		"/dydxprotocol.listing.MsgCreateMarketPermissionless":         &listing.MsgCreateMarketPermissionless{},
+		"/dydxprotocol.listing.MsgCreateMarketPermissionlessResponse": nil,
 
 		// perpetuals
 		"/dydxprotocol.perpetuals.MsgCreatePerpetual":               &perpetuals.MsgCreatePerpetual{},
diff --git a/protocol/app/msgs/internal_msgs_test.go b/protocol/app/msgs/internal_msgs_test.go
index da50b0e1c3..15fd9f62fb 100644
--- a/protocol/app/msgs/internal_msgs_test.go
+++ b/protocol/app/msgs/internal_msgs_test.go
@@ -104,6 +104,8 @@ func TestInternalMsgSamples_Gov_Key(t *testing.T) {
 		// listing
 		"/dydxprotocol.listing.MsgSetMarketsHardCap",
 		"/dydxprotocol.listing.MsgSetMarketsHardCapResponse",
+		"/dydxprotocol.listing.MsgCreateMarketPermissionless",
+		"/dydxprotocol.listing.MsgCreateMarketPermissionlessResponse",
 
 		// perpeutals
 		"/dydxprotocol.perpetuals.MsgCreatePerpetual",
diff --git a/protocol/x/listing/keeper/msg_create_market_permissionless.go b/protocol/x/listing/keeper/msg_create_market_permissionless.go
new file mode 100644
index 0000000000..96d4d5a176
--- /dev/null
+++ b/protocol/x/listing/keeper/msg_create_market_permissionless.go
@@ -0,0 +1,40 @@
+package keeper
+
+import (
+	"context"
+
+	"github.com/dydxprotocol/v4-chain/protocol/lib"
+	"github.com/dydxprotocol/v4-chain/protocol/x/listing/types"
+)
+
+func (k msgServer) CreateMarketPermissionless(
+	goCtx context.Context,
+	msg *types.MsgCreateMarketPermissionless,
+) (*types.MsgCreateMarketPermissionlessResponse, error) {
+	ctx := lib.UnwrapSDKContext(goCtx, types.ModuleName)
+
+	// Check if the number of listed markets is above the hard cap
+	numPerpetuals := len(k.PerpetualsKeeper.GetAllPerpetuals(ctx))
+	if uint32(numPerpetuals) > k.Keeper.GetMarketsHardCap(ctx) {
+		return nil, types.ErrMarketsHardCapReached
+	}
+
+	marketId, err := k.Keeper.CreateMarket(ctx, msg.Ticker)
+	if err != nil {
+		return nil, err
+	}
+
+	perpetualId, err := k.Keeper.CreatePerpetual(ctx, marketId, msg.Ticker)
+	if err != nil {
+		return nil, err
+	}
+
+	_, err = k.Keeper.CreateClobPair(ctx, perpetualId)
+	if err != nil {
+		return nil, err
+	}
+
+	// TODO: vault deposit for PML
+
+	return &types.MsgCreateMarketPermissionlessResponse{}, nil
+}
diff --git a/protocol/x/listing/types/errors.go b/protocol/x/listing/types/errors.go
index 4476f39da7..6ac9bd7237 100644
--- a/protocol/x/listing/types/errors.go
+++ b/protocol/x/listing/types/errors.go
@@ -9,4 +9,10 @@ var (
 		1,
 		"reference price is zero",
 	)
+
+	ErrMarketsHardCapReached = errorsmod.Register(
+		ModuleName,
+		2,
+		"listed markets hard cap reached",
+	)
 )
diff --git a/protocol/x/listing/types/expected_keepers.go b/protocol/x/listing/types/expected_keepers.go
index 1f694d1b17..14358d07b1 100644
--- a/protocol/x/listing/types/expected_keepers.go
+++ b/protocol/x/listing/types/expected_keepers.go
@@ -50,4 +50,5 @@ type PerpetualsKeeper interface {
 		marketType perpetualtypes.PerpetualMarketType,
 	) (perpetualtypes.Perpetual, error)
 	AcquireNextPerpetualID(ctx sdk.Context) uint32
+	GetAllPerpetuals(ctx sdk.Context) (list []perpetualtypes.Perpetual)
 }
diff --git a/protocol/x/listing/types/tx.pb.go b/protocol/x/listing/types/tx.pb.go
index faf1455764..c26874be46 100644
--- a/protocol/x/listing/types/tx.pb.go
+++ b/protocol/x/listing/types/tx.pb.go
@@ -8,8 +8,11 @@ import (
 	fmt "fmt"
 	_ "github.com/cosmos/cosmos-proto"
 	_ "github.com/cosmos/cosmos-sdk/types/msgservice"
+	_ "github.com/cosmos/gogoproto/gogoproto"
 	grpc1 "github.com/cosmos/gogoproto/grpc"
 	proto "github.com/cosmos/gogoproto/proto"
+	github_com_dydxprotocol_v4_chain_protocol_dtypes "github.com/dydxprotocol/v4-chain/protocol/dtypes"
+	types "github.com/dydxprotocol/v4-chain/protocol/x/subaccounts/types"
 	grpc "google.golang.org/grpc"
 	codes "google.golang.org/grpc/codes"
 	status "google.golang.org/grpc/status"
@@ -121,35 +124,142 @@ func (m *MsgSetMarketsHardCapResponse) XXX_DiscardUnknown() {
 
 var xxx_messageInfo_MsgSetMarketsHardCapResponse proto.InternalMessageInfo
 
+// MsgCreateMarketPermissionless is a message used to create new markets without // going through x/gov
+type MsgCreateMarketPermissionless struct {
+	// The name of the `Perpetual` (e.g. `BTC-USD`).
+	Ticker string `protobuf:"bytes,1,opt,name=ticker,proto3" json:"ticker,omitempty"`
+	// The subaccount to deposit from.
+	SubaccountId *types.SubaccountId `protobuf:"bytes,2,opt,name=subaccount_id,json=subaccountId,proto3" json:"subaccount_id,omitempty"`
+	// Number of quote quantums to deposit.
+	QuoteQuantums github_com_dydxprotocol_v4_chain_protocol_dtypes.SerializableInt `protobuf:"bytes,3,opt,name=quote_quantums,json=quoteQuantums,proto3,customtype=github.com/dydxprotocol/v4-chain/protocol/dtypes.SerializableInt" json:"quote_quantums"`
+}
+
+func (m *MsgCreateMarketPermissionless) Reset()         { *m = MsgCreateMarketPermissionless{} }
+func (m *MsgCreateMarketPermissionless) String() string { return proto.CompactTextString(m) }
+func (*MsgCreateMarketPermissionless) ProtoMessage()    {}
+func (*MsgCreateMarketPermissionless) Descriptor() ([]byte, []int) {
+	return fileDescriptor_144a579c1e2dcb94, []int{2}
+}
+func (m *MsgCreateMarketPermissionless) XXX_Unmarshal(b []byte) error {
+	return m.Unmarshal(b)
+}
+func (m *MsgCreateMarketPermissionless) XXX_Marshal(b []byte, deterministic bool) ([]byte, error) {
+	if deterministic {
+		return xxx_messageInfo_MsgCreateMarketPermissionless.Marshal(b, m, deterministic)
+	} else {
+		b = b[:cap(b)]
+		n, err := m.MarshalToSizedBuffer(b)
+		if err != nil {
+			return nil, err
+		}
+		return b[:n], nil
+	}
+}
+func (m *MsgCreateMarketPermissionless) XXX_Merge(src proto.Message) {
+	xxx_messageInfo_MsgCreateMarketPermissionless.Merge(m, src)
+}
+func (m *MsgCreateMarketPermissionless) XXX_Size() int {
+	return m.Size()
+}
+func (m *MsgCreateMarketPermissionless) XXX_DiscardUnknown() {
+	xxx_messageInfo_MsgCreateMarketPermissionless.DiscardUnknown(m)
+}
+
+var xxx_messageInfo_MsgCreateMarketPermissionless proto.InternalMessageInfo
+
+func (m *MsgCreateMarketPermissionless) GetTicker() string {
+	if m != nil {
+		return m.Ticker
+	}
+	return ""
+}
+
+func (m *MsgCreateMarketPermissionless) GetSubaccountId() *types.SubaccountId {
+	if m != nil {
+		return m.SubaccountId
+	}
+	return nil
+}
+
+// MsgCreateMarketPermissionlessResponse defines the MsgCreateMarketPermissionless response
+type MsgCreateMarketPermissionlessResponse struct {
+}
+
+func (m *MsgCreateMarketPermissionlessResponse) Reset()         { *m = MsgCreateMarketPermissionlessResponse{} }
+func (m *MsgCreateMarketPermissionlessResponse) String() string { return proto.CompactTextString(m) }
+func (*MsgCreateMarketPermissionlessResponse) ProtoMessage()    {}
+func (*MsgCreateMarketPermissionlessResponse) Descriptor() ([]byte, []int) {
+	return fileDescriptor_144a579c1e2dcb94, []int{3}
+}
+func (m *MsgCreateMarketPermissionlessResponse) XXX_Unmarshal(b []byte) error {
+	return m.Unmarshal(b)
+}
+func (m *MsgCreateMarketPermissionlessResponse) XXX_Marshal(b []byte, deterministic bool) ([]byte, error) {
+	if deterministic {
+		return xxx_messageInfo_MsgCreateMarketPermissionlessResponse.Marshal(b, m, deterministic)
+	} else {
+		b = b[:cap(b)]
+		n, err := m.MarshalToSizedBuffer(b)
+		if err != nil {
+			return nil, err
+		}
+		return b[:n], nil
+	}
+}
+func (m *MsgCreateMarketPermissionlessResponse) XXX_Merge(src proto.Message) {
+	xxx_messageInfo_MsgCreateMarketPermissionlessResponse.Merge(m, src)
+}
+func (m *MsgCreateMarketPermissionlessResponse) XXX_Size() int {
+	return m.Size()
+}
+func (m *MsgCreateMarketPermissionlessResponse) XXX_DiscardUnknown() {
+	xxx_messageInfo_MsgCreateMarketPermissionlessResponse.DiscardUnknown(m)
+}
+
+var xxx_messageInfo_MsgCreateMarketPermissionlessResponse proto.InternalMessageInfo
+
 func init() {
 	proto.RegisterType((*MsgSetMarketsHardCap)(nil), "dydxprotocol.listing.MsgSetMarketsHardCap")
 	proto.RegisterType((*MsgSetMarketsHardCapResponse)(nil), "dydxprotocol.listing.MsgSetMarketsHardCapResponse")
+	proto.RegisterType((*MsgCreateMarketPermissionless)(nil), "dydxprotocol.listing.MsgCreateMarketPermissionless")
+	proto.RegisterType((*MsgCreateMarketPermissionlessResponse)(nil), "dydxprotocol.listing.MsgCreateMarketPermissionlessResponse")
 }
 
 func init() { proto.RegisterFile("dydxprotocol/listing/tx.proto", fileDescriptor_144a579c1e2dcb94) }
 
 var fileDescriptor_144a579c1e2dcb94 = []byte{
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-	0xfe, 0xfa, 0xf4, 0x01, 0x00, 0x00,
+	// 483 bytes of a gzipped FileDescriptorProto
+	0x1f, 0x8b, 0x08, 0x00, 0x00, 0x00, 0x00, 0x00, 0x02, 0xff, 0x8c, 0x53, 0x41, 0x6b, 0x13, 0x41,
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+	0xce, 0x3c, 0xec, 0x55, 0x70, 0xf3, 0x7e, 0x2c, 0x21, 0x93, 0x10, 0x95, 0x80, 0x6f, 0x12, 0x73,
+	0xa0, 0x79, 0xcf, 0x64, 0x7e, 0x06, 0xcc, 0x3f, 0x7f, 0x3a, 0xfd, 0x54, 0x80, 0xc3, 0x24, 0x93,
+	0xe6, 0xc0, 0x34, 0xaa, 0xaa, 0x4f, 0x16, 0xc6, 0x43, 0x31, 0xc0, 0x71, 0x2c, 0x0b, 0xa1, 0x61,
+	0x2e, 0x36, 0xad, 0xed, 0x2f, 0x16, 0x72, 0xfa, 0xc0, 0x42, 0xaa, 0xfb, 0x58, 0x9d, 0x52, 0x0d,
+	0xc7, 0x58, 0x91, 0x23, 0x9c, 0xdb, 0x2f, 0xd0, 0x26, 0x2e, 0x74, 0x22, 0x15, 0xd7, 0xa3, 0x86,
+	0xd5, 0xb2, 0x3a, 0x9b, 0xbd, 0xc6, 0x8f, 0xef, 0x07, 0x4e, 0xb5, 0xd7, 0x6b, 0x42, 0x14, 0x05,
+	0x08, 0xb5, 0xe2, 0x82, 0x05, 0xb3, 0x56, 0xdb, 0x47, 0x4e, 0x82, 0x15, 0x89, 0x62, 0x9c, 0x47,
+	0x1f, 0xa5, 0x8a, 0x32, 0x43, 0xdb, 0x58, 0x6b, 0x59, 0x9d, 0x7a, 0xb0, 0x93, 0x18, 0xfa, 0x37,
+	0x52, 0x55, 0xf3, 0x0e, 0xb7, 0x3f, 0xfd, 0xf9, 0xb6, 0x3f, 0x23, 0x68, 0xbb, 0xe8, 0xc1, 0xb2,
+	0x85, 0x02, 0x0a, 0xb9, 0x14, 0x40, 0xdb, 0x9f, 0xd7, 0xd0, 0x6e, 0x1f, 0xd8, 0x91, 0xa2, 0x58,
+	0x53, 0xd3, 0xf3, 0x8e, 0xaa, 0x8c, 0x03, 0x70, 0x29, 0x52, 0x0a, 0x60, 0xdf, 0x45, 0x1b, 0x9a,
+	0xc7, 0xa7, 0x54, 0x99, 0xbd, 0x83, 0x2a, 0xb3, 0xdf, 0xa2, 0xfa, 0xec, 0xfe, 0x11, 0x27, 0xe5,
+	0x4e, 0x77, 0xba, 0x8f, 0xbc, 0x05, 0x3b, 0xe6, 0xe4, 0xf2, 0xc2, 0xdb, 0xf8, 0x84, 0x04, 0x5b,
+	0x30, 0x97, 0xd9, 0x12, 0x6d, 0x9f, 0x15, 0x52, 0xd3, 0xe8, 0xac, 0xc0, 0x42, 0x17, 0x19, 0x34,
+	0xd6, 0x5b, 0x56, 0x67, 0xab, 0x77, 0x7c, 0x79, 0xbd, 0x57, 0xfb, 0x75, 0xbd, 0xf7, 0x8a, 0x71,
+	0x9d, 0x14, 0x03, 0x2f, 0x96, 0x99, 0xbf, 0x60, 0xc7, 0xf9, 0xf3, 0x83, 0x38, 0xc1, 0x5c, 0xf8,
+	0xb7, 0x15, 0xa2, 0x47, 0x39, 0x05, 0x2f, 0xa4, 0x8a, 0xe3, 0x94, 0x5f, 0xe0, 0x41, 0x4a, 0x4f,
+	0x84, 0x0e, 0xea, 0x25, 0xff, 0xfb, 0x8a, 0xfe, 0xd0, 0x9e, 0xea, 0xb4, 0x78, 0x81, 0xf6, 0x63,
+	0xf4, 0xf0, 0xbf, 0x52, 0xdc, 0x88, 0xd6, 0xbd, 0x40, 0xeb, 0x7d, 0x60, 0x36, 0xa0, 0x9d, 0x7f,
+	0x9d, 0xde, 0xf7, 0x96, 0xfd, 0x8e, 0xde, 0x32, 0x13, 0x9a, 0xdd, 0xd5, 0x7b, 0x6f, 0x66, 0xf7,
+	0xc2, 0xcb, 0xb1, 0x6b, 0x5d, 0x8d, 0x5d, 0xeb, 0xf7, 0xd8, 0xb5, 0xbe, 0x4e, 0xdc, 0xda, 0xd5,
+	0xc4, 0xad, 0xfd, 0x9c, 0xb8, 0xb5, 0x0f, 0x2f, 0x57, 0xd7, 0x68, 0x38, 0x7b, 0x45, 0x53, 0xb1,
+	0x06, 0x1b, 0x25, 0xf2, 0xec, 0x6f, 0x00, 0x00, 0x00, 0xff, 0xff, 0x21, 0x72, 0xd2, 0x5a, 0x6a,
+	0x03, 0x00, 0x00,
 }
 
 // Reference imports to suppress errors if they are not otherwise used.
@@ -292,6 +402,81 @@ func (m *MsgSetMarketsHardCapResponse) MarshalToSizedBuffer(dAtA []byte) (int, e
 	return len(dAtA) - i, nil
 }
 
+func (m *MsgCreateMarketPermissionless) Marshal() (dAtA []byte, err error) {
+	size := m.Size()
+	dAtA = make([]byte, size)
+	n, err := m.MarshalToSizedBuffer(dAtA[:size])
+	if err != nil {
+		return nil, err
+	}
+	return dAtA[:n], nil
+}
+
+func (m *MsgCreateMarketPermissionless) MarshalTo(dAtA []byte) (int, error) {
+	size := m.Size()
+	return m.MarshalToSizedBuffer(dAtA[:size])
+}
+
+func (m *MsgCreateMarketPermissionless) MarshalToSizedBuffer(dAtA []byte) (int, error) {
+	i := len(dAtA)
+	_ = i
+	var l int
+	_ = l
+	{
+		size := m.QuoteQuantums.Size()
+		i -= size
+		if _, err := m.QuoteQuantums.MarshalTo(dAtA[i:]); err != nil {
+			return 0, err
+		}
+		i = encodeVarintTx(dAtA, i, uint64(size))
+	}
+	i--
+	dAtA[i] = 0x1a
+	if m.SubaccountId != nil {
+		{
+			size, err := m.SubaccountId.MarshalToSizedBuffer(dAtA[:i])
+			if err != nil {
+				return 0, err
+			}
+			i -= size
+			i = encodeVarintTx(dAtA, i, uint64(size))
+		}
+		i--
+		dAtA[i] = 0x12
+	}
+	if len(m.Ticker) > 0 {
+		i -= len(m.Ticker)
+		copy(dAtA[i:], m.Ticker)
+		i = encodeVarintTx(dAtA, i, uint64(len(m.Ticker)))
+		i--
+		dAtA[i] = 0xa
+	}
+	return len(dAtA) - i, nil
+}
+
+func (m *MsgCreateMarketPermissionlessResponse) Marshal() (dAtA []byte, err error) {
+	size := m.Size()
+	dAtA = make([]byte, size)
+	n, err := m.MarshalToSizedBuffer(dAtA[:size])
+	if err != nil {
+		return nil, err
+	}
+	return dAtA[:n], nil
+}
+
+func (m *MsgCreateMarketPermissionlessResponse) MarshalTo(dAtA []byte) (int, error) {
+	size := m.Size()
+	return m.MarshalToSizedBuffer(dAtA[:size])
+}
+
+func (m *MsgCreateMarketPermissionlessResponse) MarshalToSizedBuffer(dAtA []byte) (int, error) {
+	i := len(dAtA)
+	_ = i
+	var l int
+	_ = l
+	return len(dAtA) - i, nil
+}
+
 func encodeVarintTx(dAtA []byte, offset int, v uint64) int {
 	offset -= sovTx(v)
 	base := offset
@@ -328,6 +513,34 @@ func (m *MsgSetMarketsHardCapResponse) Size() (n int) {
 	return n
 }
 
+func (m *MsgCreateMarketPermissionless) Size() (n int) {
+	if m == nil {
+		return 0
+	}
+	var l int
+	_ = l
+	l = len(m.Ticker)
+	if l > 0 {
+		n += 1 + l + sovTx(uint64(l))
+	}
+	if m.SubaccountId != nil {
+		l = m.SubaccountId.Size()
+		n += 1 + l + sovTx(uint64(l))
+	}
+	l = m.QuoteQuantums.Size()
+	n += 1 + l + sovTx(uint64(l))
+	return n
+}
+
+func (m *MsgCreateMarketPermissionlessResponse) Size() (n int) {
+	if m == nil {
+		return 0
+	}
+	var l int
+	_ = l
+	return n
+}
+
 func sovTx(x uint64) (n int) {
 	return (math_bits.Len64(x|1) + 6) / 7
 }
@@ -485,6 +698,207 @@ func (m *MsgSetMarketsHardCapResponse) Unmarshal(dAtA []byte) error {
 	}
 	return nil
 }
+func (m *MsgCreateMarketPermissionless) Unmarshal(dAtA []byte) error {
+	l := len(dAtA)
+	iNdEx := 0
+	for iNdEx < l {
+		preIndex := iNdEx
+		var wire uint64
+		for shift := uint(0); ; shift += 7 {
+			if shift >= 64 {
+				return ErrIntOverflowTx
+			}
+			if iNdEx >= l {
+				return io.ErrUnexpectedEOF
+			}
+			b := dAtA[iNdEx]
+			iNdEx++
+			wire |= uint64(b&0x7F) << shift
+			if b < 0x80 {
+				break
+			}
+		}
+		fieldNum := int32(wire >> 3)
+		wireType := int(wire & 0x7)
+		if wireType == 4 {
+			return fmt.Errorf("proto: MsgCreateMarketPermissionless: wiretype end group for non-group")
+		}
+		if fieldNum <= 0 {
+			return fmt.Errorf("proto: MsgCreateMarketPermissionless: illegal tag %d (wire type %d)", fieldNum, wire)
+		}
+		switch fieldNum {
+		case 1:
+			if wireType != 2 {
+				return fmt.Errorf("proto: wrong wireType = %d for field Ticker", wireType)
+			}
+			var stringLen uint64
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return ErrIntOverflowTx
+				}
+				if iNdEx >= l {
+					return io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				stringLen |= uint64(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			intStringLen := int(stringLen)
+			if intStringLen < 0 {
+				return ErrInvalidLengthTx
+			}
+			postIndex := iNdEx + intStringLen
+			if postIndex < 0 {
+				return ErrInvalidLengthTx
+			}
+			if postIndex > l {
+				return io.ErrUnexpectedEOF
+			}
+			m.Ticker = string(dAtA[iNdEx:postIndex])
+			iNdEx = postIndex
+		case 2:
+			if wireType != 2 {
+				return fmt.Errorf("proto: wrong wireType = %d for field SubaccountId", wireType)
+			}
+			var msglen int
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return ErrIntOverflowTx
+				}
+				if iNdEx >= l {
+					return io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				msglen |= int(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			if msglen < 0 {
+				return ErrInvalidLengthTx
+			}
+			postIndex := iNdEx + msglen
+			if postIndex < 0 {
+				return ErrInvalidLengthTx
+			}
+			if postIndex > l {
+				return io.ErrUnexpectedEOF
+			}
+			if m.SubaccountId == nil {
+				m.SubaccountId = &types.SubaccountId{}
+			}
+			if err := m.SubaccountId.Unmarshal(dAtA[iNdEx:postIndex]); err != nil {
+				return err
+			}
+			iNdEx = postIndex
+		case 3:
+			if wireType != 2 {
+				return fmt.Errorf("proto: wrong wireType = %d for field QuoteQuantums", wireType)
+			}
+			var byteLen int
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return ErrIntOverflowTx
+				}
+				if iNdEx >= l {
+					return io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				byteLen |= int(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			if byteLen < 0 {
+				return ErrInvalidLengthTx
+			}
+			postIndex := iNdEx + byteLen
+			if postIndex < 0 {
+				return ErrInvalidLengthTx
+			}
+			if postIndex > l {
+				return io.ErrUnexpectedEOF
+			}
+			if err := m.QuoteQuantums.Unmarshal(dAtA[iNdEx:postIndex]); err != nil {
+				return err
+			}
+			iNdEx = postIndex
+		default:
+			iNdEx = preIndex
+			skippy, err := skipTx(dAtA[iNdEx:])
+			if err != nil {
+				return err
+			}
+			if (skippy < 0) || (iNdEx+skippy) < 0 {
+				return ErrInvalidLengthTx
+			}
+			if (iNdEx + skippy) > l {
+				return io.ErrUnexpectedEOF
+			}
+			iNdEx += skippy
+		}
+	}
+
+	if iNdEx > l {
+		return io.ErrUnexpectedEOF
+	}
+	return nil
+}
+func (m *MsgCreateMarketPermissionlessResponse) Unmarshal(dAtA []byte) error {
+	l := len(dAtA)
+	iNdEx := 0
+	for iNdEx < l {
+		preIndex := iNdEx
+		var wire uint64
+		for shift := uint(0); ; shift += 7 {
+			if shift >= 64 {
+				return ErrIntOverflowTx
+			}
+			if iNdEx >= l {
+				return io.ErrUnexpectedEOF
+			}
+			b := dAtA[iNdEx]
+			iNdEx++
+			wire |= uint64(b&0x7F) << shift
+			if b < 0x80 {
+				break
+			}
+		}
+		fieldNum := int32(wire >> 3)
+		wireType := int(wire & 0x7)
+		if wireType == 4 {
+			return fmt.Errorf("proto: MsgCreateMarketPermissionlessResponse: wiretype end group for non-group")
+		}
+		if fieldNum <= 0 {
+			return fmt.Errorf("proto: MsgCreateMarketPermissionlessResponse: illegal tag %d (wire type %d)", fieldNum, wire)
+		}
+		switch fieldNum {
+		default:
+			iNdEx = preIndex
+			skippy, err := skipTx(dAtA[iNdEx:])
+			if err != nil {
+				return err
+			}
+			if (skippy < 0) || (iNdEx+skippy) < 0 {
+				return ErrInvalidLengthTx
+			}
+			if (iNdEx + skippy) > l {
+				return io.ErrUnexpectedEOF
+			}
+			iNdEx += skippy
+		}
+	}
+
+	if iNdEx > l {
+		return io.ErrUnexpectedEOF
+	}
+	return nil
+}
 func skipTx(dAtA []byte) (n int, err error) {
 	l := len(dAtA)
 	iNdEx := 0