@drift-labs/sdk 0.2.0-master.27 → 0.2.0-master.29

package/src/idl/clearing_house.json

@@ -1809,6 +1809,31 @@
         }
       ]
     },
+    {
+      "name": "updateUserDelegate",
+      "accounts": [
+        {
+          "name": "user",
+          "isMut": true,
+          "isSigner": false
+        },
+        {
+          "name": "authority",
+          "isMut": false,
+          "isSigner": true
+        }
+      ],
+      "args": [
+        {
+          "name": "userId",
+          "type": "u8"
+        },
+        {
+          "name": "delegate",
+          "type": "publicKey"
+        }
+      ]
+    },
     {
       "name": "settleFundingPayment",
       "accounts": [
@@ -2253,7 +2278,7 @@
       ]
     },
     {
-      "name": "updateFee",
+      "name": "updatePerpFeeStructure",
       "accounts": [
         {
           "name": "admin",
@@ -2268,7 +2293,7 @@
       ],
       "args": [
         {
-          "name": "fees",
+          "name": "feeStructure",
           "type": {
             "defined": "FeeStructure"
           }
@@ -2276,7 +2301,7 @@
       ]
     },
     {
-      "name": "updateOrderFillerRewardStructure",
+      "name": "updateSpotFeeStructure",
       "accounts": [
         {
           "name": "admin",
@@ -2291,9 +2316,9 @@
       ],
       "args": [
         {
-          "name": "orderFillerRewardStructure",
+          "name": "feeStructure",
           "type": {
-            "defined": "OrderFillerRewardStructure"
+            "defined": "FeeStructure"
           }
         }
       ]
@@ -2971,6 +2996,42 @@
           "type": "u64"
         }
       ]
+    },
+    {
+      "name": "updateUserQuoteAssetInsuranceStake",
+      "accounts": [
+        {
+          "name": "state",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "spotMarket",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "insuranceFundStake",
+          "isMut": true,
+          "isSigner": false
+        },
+        {
+          "name": "userStats",
+          "isMut": true,
+          "isSigner": false
+        },
+        {
+          "name": "authority",
+          "isMut": false,
+          "isSigner": true
+        },
+        {
+          "name": "insuranceFundVault",
+          "isMut": true,
+          "isSigner": false
+        }
+      ],
+      "args": []
     }
   ],
   "accounts": [
@@ -3447,18 +3508,6 @@
             "name": "insuranceVault",
             "type": "publicKey"
           },
-          {
-            "name": "perpFeeStructure",
-            "type": {
-              "defined": "FeeStructure"
-            }
-          },
-          {
-            "name": "spotFeeStructure",
-            "type": {
-              "defined": "FeeStructure"
-            }
-          },
           {
             "name": "whitelistMint",
             "type": "publicKey"
@@ -3512,6 +3561,18 @@
           {
             "name": "signerNonce",
             "type": "u8"
+          },
+          {
+            "name": "perpFeeStructure",
+            "type": {
+              "defined": "FeeStructure"
+            }
+          },
+          {
+            "name": "spotFeeStructure",
+            "type": {
+              "defined": "FeeStructure"
+            }
           }
         ]
       }
@@ -3525,6 +3586,10 @@
             "name": "authority",
             "type": "publicKey"
           },
+          {
+            "name": "delegate",
+            "type": "publicKey"
+          },
           {
             "name": "userId",
             "type": "u8"
@@ -3619,6 +3684,14 @@
             "name": "totalReferrerReward",
             "type": "u64"
           },
+          {
+            "name": "currentEpochReferrerReward",
+            "type": "u64"
+          },
+          {
+            "name": "nextEpochTs",
+            "type": "i64"
+          },
           {
             "name": "fees",
             "type": {
@@ -3650,8 +3723,8 @@
             "type": "i64"
           },
           {
-            "name": "quoteAssetInsuranceFundStake",
-            "type": "u128"
+            "name": "stakedQuoteAssetAmount",
+            "type": "u64"
           }
         ]
       }
@@ -4342,39 +4415,26 @@
         "kind": "struct",
         "fields": [
           {
-            "name": "feeNumerator",
-            "type": "u128"
-          },
-          {
-            "name": "feeDenominator",
-            "type": "u128"
-          },
-          {
-            "name": "discountTokenTiers",
+            "name": "feeTiers",
             "type": {
-              "defined": "DiscountTokenTiers"
-            }
-          },
-          {
-            "name": "referralDiscount",
-            "type": {
-              "defined": "ReferralDiscount"
+              "array": [
+                {
+                  "defined": "FeeTier"
+                },
+                10
+              ]
             }
           },
-          {
-            "name": "makerRebateNumerator",
-            "type": "u128"
-          },
-          {
-            "name": "makerRebateDenominator",
-            "type": "u128"
-          },
           {
             "name": "fillerRewardStructure",
             "type": {
               "defined": "OrderFillerRewardStructure"
             }
           },
+          {
+            "name": "referrerRewardEpochUpperBound",
+            "type": "u64"
+          },
           {
             "name": "flatFillerFee",
             "type": "u128"
@@ -4383,77 +4443,41 @@
       }
     },
     {
-      "name": "DiscountTokenTiers",
+      "name": "FeeTier",
       "type": {
         "kind": "struct",
         "fields": [
           {
-            "name": "firstTier",
-            "type": {
-              "defined": "DiscountTokenTier"
-            }
-          },
-          {
-            "name": "secondTier",
-            "type": {
-              "defined": "DiscountTokenTier"
-            }
+            "name": "feeNumerator",
+            "type": "u32"
           },
           {
-            "name": "thirdTier",
-            "type": {
-              "defined": "DiscountTokenTier"
-            }
+            "name": "feeDenominator",
+            "type": "u32"
           },
           {
-            "name": "fourthTier",
-            "type": {
-              "defined": "DiscountTokenTier"
-            }
-          }
-        ]
-      }
-    },
-    {
-      "name": "DiscountTokenTier",
-      "type": {
-        "kind": "struct",
-        "fields": [
-          {
-            "name": "minimumBalance",
-            "type": "u64"
+            "name": "makerRebateNumerator",
+            "type": "u32"
           },
           {
-            "name": "discountNumerator",
-            "type": "u128"
+            "name": "makerRebateDenominator",
+            "type": "u32"
           },
-          {
-            "name": "discountDenominator",
-            "type": "u128"
-          }
-        ]
-      }
-    },
-    {
-      "name": "ReferralDiscount",
-      "type": {
-        "kind": "struct",
-        "fields": [
           {
             "name": "referrerRewardNumerator",
-            "type": "u128"
+            "type": "u32"
           },
           {
             "name": "referrerRewardDenominator",
-            "type": "u128"
+            "type": "u32"
           },
           {
-            "name": "refereeDiscountNumerator",
-            "type": "u128"
+            "name": "refereeFeeNumerator",
+            "type": "u32"
           },
           {
-            "name": "refereeDiscountDenominator",
-            "type": "u128"
+            "name": "refereeFeeDenominator",
+            "type": "u32"
           }
         ]
       }
@@ -4536,6 +4560,10 @@
           {
             "name": "openAsks",
             "type": "i128"
+          },
+          {
+            "name": "cumulativeDeposits",
+            "type": "i64"
           }
         ]
       }
@@ -4586,7 +4614,7 @@
             "type": "i128"
           },
           {
-            "name": "realizedPnl",
+            "name": "settledPnl",
             "type": "i64"
           },
           {

package/src/math/insurance.ts

@@ -1,4 +1,4 @@
-import { ONE, ZERO } from '../constants/numericConstants';
+import { ZERO } from '../constants/numericConstants';
 import { BN } from '../index';
 
 export function stakeAmountToShares(
@@ -25,7 +25,7 @@ export function unstakeSharesToAmount(
 	if (totalIfShares.gt(ZERO)) {
 		amount = BN.max(
 			ZERO,
-			nShares.mul(insuranceFundVaultBalance).div(totalIfShares).sub(ONE)
+			nShares.mul(insuranceFundVaultBalance).div(totalIfShares)
 		);
 	} else {
 		amount = ZERO;

package/src/math/market.ts

@@ -157,7 +157,7 @@ export function calculateUnrealizedAssetWeight(
 			assetWeight = new BN(market.unrealizedInitialAssetWeight);
 
 			if (market.unrealizedMaxImbalance.gt(ZERO)) {
-				const netUnsettledPnl = calculateNetUserImbalance(
+				const netUnsettledPnl = calculateNetUserPnlImbalance(
 					market,
 					quoteSpotMarket,
 					oraclePriceData
@@ -194,29 +194,38 @@ export function calculateMarketAvailablePNL(
 	);
 }
 
-export function calculateNetUserImbalance(
-	market: PerpMarketAccount,
-	bank: SpotMarketAccount,
+export function calculateNetUserPnl(
+	perpMarket: PerpMarketAccount,
 	oraclePriceData: OraclePriceData
 ): BN {
-	const netUserPositionValue = market.amm.netBaseAssetAmount
+	const netUserPositionValue = perpMarket.amm.netBaseAssetAmount
 		.mul(oraclePriceData.price)
 		.div(BASE_PRECISION)
 		.div(PRICE_TO_QUOTE_PRECISION);
 
-	const netUserCostBasis = market.amm.quoteAssetAmountLong
-		.add(market.amm.quoteAssetAmountShort)
-		.sub(market.amm.cumulativeSocialLoss);
+	const netUserCostBasis = perpMarket.amm.quoteAssetAmountLong
+		.add(perpMarket.amm.quoteAssetAmountShort)
+		.sub(perpMarket.amm.cumulativeSocialLoss);
+
+	const netUserPnl = netUserPositionValue.add(netUserCostBasis);
+
+	return netUserPnl;
+}
 
-	const userEntitledPnl = netUserPositionValue.add(netUserCostBasis);
+export function calculateNetUserPnlImbalance(
+	perpMarket: PerpMarketAccount,
+	spotMarket: SpotMarketAccount,
+	oraclePriceData: OraclePriceData
+): BN {
+	const netUserPnl = calculateNetUserPnl(perpMarket, oraclePriceData);
 
 	const pnlPool = getTokenAmount(
-		market.pnlPool.balance,
-		bank,
+		perpMarket.pnlPool.balance,
+		spotMarket,
 		SpotBalanceType.DEPOSIT
 	);
 
-	const imbalance = userEntitledPnl.sub(pnlPool);
+	const imbalance = netUserPnl.sub(pnlPool);
 
 	return imbalance;
 }

package/src/math/position.ts

@@ -1,4 +1,4 @@
-import { BN } from '../';
+import { BN, SpotMarketAccount } from '../';
 import {
 	AMM_RESERVE_PRECISION,
 	AMM_TIMES_PEG_TO_QUOTE_PRECISION_RATIO,
@@ -17,8 +17,8 @@ import {
 	calculateAmmReservesAfterSwap,
 	getSwapDirection,
 } from './amm';
-
 import { calculateBaseAssetValueWithOracle } from './margin';
+import { calculateNetUserPnlImbalance } from './market';
 
 /**
  * calculateBaseAssetValue
@@ -31,7 +31,9 @@ import { calculateBaseAssetValueWithOracle } from './margin';
 export function calculateBaseAssetValue(
 	market: PerpMarketAccount,
 	userPosition: PerpPosition,
-	oraclePriceData: OraclePriceData
+	oraclePriceData: OraclePriceData,
+	useSpread = true,
+	skipUpdate = false
 ): BN {
 	if (userPosition.baseAssetAmount.eq(ZERO)) {
 		return ZERO;
@@ -40,21 +42,25 @@ export function calculateBaseAssetValue(
 	const directionToClose = findDirectionToClose(userPosition);
 	let prepegAmm: Parameters<typeof calculateAmmReservesAfterSwap>[0];
 
-	if (market.amm.baseSpread > 0) {
-		const { baseAssetReserve, quoteAssetReserve, sqrtK, newPeg } =
-			calculateUpdatedAMMSpreadReserves(
-				market.amm,
-				directionToClose,
-				oraclePriceData
-			);
-		prepegAmm = {
-			baseAssetReserve,
-			quoteAssetReserve,
-			sqrtK: sqrtK,
-			pegMultiplier: newPeg,
-		};
+	if (!skipUpdate) {
+		if (market.amm.baseSpread > 0 && useSpread) {
+			const { baseAssetReserve, quoteAssetReserve, sqrtK, newPeg } =
+				calculateUpdatedAMMSpreadReserves(
+					market.amm,
+					directionToClose,
+					oraclePriceData
+				);
+			prepegAmm = {
+				baseAssetReserve,
+				quoteAssetReserve,
+				sqrtK: sqrtK,
+				pegMultiplier: newPeg,
+			};
+		} else {
+			prepegAmm = calculateUpdatedAMM(market.amm, oraclePriceData);
+		}
 	} else {
-		prepegAmm = calculateUpdatedAMM(market.amm, oraclePriceData);
+		prepegAmm = market.amm;
 	}
 
 	const [newQuoteAssetReserve, _] = calculateAmmReservesAfterSwap(
@@ -124,8 +130,9 @@ export function calculatePositionPNL(
 	return pnl;
 }
 
-export function calculateUnsettledPnl(
+export function calculateClaimablePnl(
 	market: PerpMarketAccount,
+	spotMarket: SpotMarketAccount,
 	perpPosition: PerpPosition,
 	oraclePriceData: OraclePriceData
 ): BN {
@@ -136,16 +143,23 @@ export function calculateUnsettledPnl(
 		oraclePriceData
 	);
 
-	let unsettledPnl = unrealizedPnl;
+	const fundingPnL = calculatePositionFundingPNL(market, perpPosition).div(
+		PRICE_TO_QUOTE_PRECISION
+	);
+
+	let unsettledPnl = unrealizedPnl.add(fundingPnL);
 	if (unrealizedPnl.gt(ZERO)) {
-		const fundingPnL = calculatePositionFundingPNL(market, perpPosition).div(
-			PRICE_TO_QUOTE_PRECISION
+		const excessPnlPool = BN.max(
+			ZERO,
+			calculateNetUserPnlImbalance(market, spotMarket, oraclePriceData).mul(
+				new BN(-1)
+			)
 		);
 
 		const maxPositivePnl = BN.max(
 			perpPosition.quoteAssetAmount
 				.sub(perpPosition.quoteEntryAmount)
-				.add(fundingPnL),
+				.add(excessPnlPool),
 			ZERO
 		);
 

package/src/math/repeg.ts

@@ -98,6 +98,15 @@ export function calculateBudgetedKBN(
 		.div(QUOTE_PRECISION);
 	const denom2 = pegged_y_d_d;
 
+	// protocol is spending to increase k
+	if (C.lt(ZERO)) {
+		// thus denom1 is negative and solution is unstable
+		if (denom1.lt(pegged_y_d_d.abs())) {
+			console.log('budget cost exceeds stable K solution');
+			return [new BN(10000), new BN(1)];
+		}
+	}
+
 	const numerator = numer1.sub(numer2).div(AMM_TO_QUOTE_PRECISION_RATIO);
 	const denominator = denom1.add(denom2).div(AMM_TO_QUOTE_PRECISION_RATIO);
 

package/src/types.ts

@@ -385,8 +385,6 @@ export type StateAccount = {
 	exchangePaused: boolean;
 	adminControlsPrices: boolean;
 	insuranceVault: PublicKey;
-	perpFeeStructure: FeeStructure;
-	spotFeeStructure: FeeStructure;
 	totalFee: BN;
 	totalFeeWithdrawn: BN;
 	whitelistMint: PublicKey;
@@ -402,6 +400,8 @@ export type StateAccount = {
 	minPerpAuctionDuration: number;
 	defaultSpotAuctionDuration: number;
 	liquidationMarginBufferRatio: number;
+	perpFeeStructure: FeeStructure;
+	spotFeeStructure: FeeStructure;
 };
 
 export type PerpMarketAccount = {
@@ -559,7 +559,7 @@ export type PerpPosition = {
 	openOrders: BN;
 	openBids: BN;
 	openAsks: BN;
-	realizedPnl: BN;
+	settledPnl: BN;
 	lpShares: BN;
 	lastFeePerLp: BN;
 	lastNetBaseAssetAmountPerLp: BN;
@@ -584,11 +584,12 @@ export type UserStatsAccount = {
 	isReferrer: boolean;
 	totalReferrerReward: BN;
 	authority: PublicKey;
-	quoteAssetInsuranceFundStake: BN;
+	stakedQuoteAssetAmount: BN;
 };
 
 export type UserAccount = {
 	authority: PublicKey;
+	delegate: PublicKey;
 	name: number[];
 	userId: number;
 	spotPositions: SpotPosition[];
@@ -717,40 +718,29 @@ export interface IWallet {
 }
 
 export type FeeStructure = {
-	feeNumerator: BN;
-	feeDenominator: BN;
-	discountTokenTiers: {
-		firstTier: {
-			minimumBalance: BN;
-			discountNumerator: BN;
-			discountDenominator: BN;
-		};
-		secondTier: {
-			minimumBalance: BN;
-			discountNumerator: BN;
-			discountDenominator: BN;
-		};
-		thirdTier: {
-			minimumBalance: BN;
-			discountNumerator: BN;
-			discountDenominator: BN;
-		};
-		fourthTier: {
-			minimumBalance: BN;
-			discountNumerator: BN;
-			discountDenominator: BN;
-		};
-	};
-	referralDiscount: {
-		referrerRewardNumerator: BN;
-		referrerRewardDenominator: BN;
-		refereeDiscountNumerator: BN;
-		refereeDiscountDenominator: BN;
-	};
+	feeTiers: FeeTier[];
 	makerRebateNumerator: BN;
 	makerRebateDenominator: BN;
 	fillerRewardStructure: OrderFillerRewardStructure;
 	flatFillerFee: BN;
+	referrerRewardEpochUpperBound: BN;
+};
+
+export type FeeTier = {
+	feeNumerator: number;
+	feeDenominator: number;
+	makerRebateNumerator: number;
+	makerRebateDenominator: number;
+	referrerRewardNumerator: number;
+	referrerRewardDenominator: number;
+	refereeFeeNumerator: number;
+	refereeFeeDenominator: number;
+};
+
+export type OrderFillerRewardStructure = {
+	rewardNumerator: BN;
+	rewardDenominator: BN;
+	timeBasedRewardLowerBound: BN;
 };
 
 export type OracleGuardRails = {
@@ -766,12 +756,6 @@ export type OracleGuardRails = {
 	useForLiquidations: boolean;
 };
 
-export type OrderFillerRewardStructure = {
-	rewardNumerator: BN;
-	rewardDenominator: BN;
-	timeBasedRewardLowerBound: BN;
-};
-
 export type MarginCategory = 'Initial' | 'Maintenance';
 
 export type InsuranceFundStake = {

package/tests/dlob/helpers.ts

@@ -20,7 +20,7 @@ export const mockPerpPosition = {
 	openOrders: new BN(0),
 	openBids: new BN(0),
 	openAsks: new BN(0),
-	realizedPnl: new BN(0),
+	settledPnl: new BN(0),
 	lpShares: new BN(0),
 	lastFeePerLp: new BN(0),
 	lastNetBaseAssetAmountPerLp: new BN(0),

package/lib/math/state.d.ts

@@ -1,8 +0,0 @@
-import { StateAccount } from '../types';
-/**
- * Get the clearing house percent fee charged on notional of taking trades
- *
- * @param state
- * @returns Precision : basis points (bps)
- */
-export declare function getExchangeFee(state: StateAccount): number;

package/lib/math/state.js

@@ -1,15 +0,0 @@
-"use strict";
-Object.defineProperty(exports, "__esModule", { value: true });
-exports.getExchangeFee = void 0;
-/**
- * Get the clearing house percent fee charged on notional of taking trades
- *
- * @param state
- * @returns Precision : basis points (bps)
- */
-function getExchangeFee(state) {
-    const exchangeFee = state.perpFeeStructure.feeNumerator.toNumber() /
-        state.perpFeeStructure.feeDenominator.toNumber();
-    return exchangeFee;
-}
-exports.getExchangeFee = getExchangeFee;