@drift-labs/sdk 2.97.0-beta.2 → 2.97.0-beta.20

package/src/math/margin.ts

@@ -187,20 +187,20 @@ export function calculateWorstCasePerpLiabilityValue(
 
 export function calculatePerpLiabilityValue(
 	baseAssetAmount: BN,
-	oraclePrice: BN,
+	price: BN,
 	isPredictionMarket: boolean
 ): BN {
 	if (isPredictionMarket) {
 		if (baseAssetAmount.gt(ZERO)) {
-			return baseAssetAmount.mul(oraclePrice).div(BASE_PRECISION);
+			return baseAssetAmount.mul(price).div(BASE_PRECISION);
 		} else {
 			return baseAssetAmount
 				.abs()
-				.mul(MAX_PREDICTION_PRICE.sub(oraclePrice))
+				.mul(MAX_PREDICTION_PRICE.sub(price))
 				.div(BASE_PRECISION);
 		}
 	} else {
-		return baseAssetAmount.abs().mul(oraclePrice).div(BASE_PRECISION);
+		return baseAssetAmount.abs().mul(price).div(BASE_PRECISION);
 	}
 }
 
@@ -214,16 +214,19 @@ export function calculateMarginUSDCRequiredForTrade(
 	driftClient: DriftClient,
 	targetMarketIndex: number,
 	baseSize: BN,
-	userMaxMarginRatio?: number
+	userMaxMarginRatio?: number,
+	userHighLeverageMode?: boolean,
+	entryPrice?: BN
 ): BN {
 	const targetMarket = driftClient.getPerpMarketAccount(targetMarketIndex);
-	const oracleData = driftClient.getOracleDataForPerpMarket(
-		targetMarket.marketIndex
-	);
+
+	const price =
+		entryPrice ??
+		driftClient.getOracleDataForPerpMarket(targetMarket.marketIndex).price;
 
 	const perpLiabilityValue = calculatePerpLiabilityValue(
 		baseSize,
-		oracleData.price,
+		price,
 		isVariant(targetMarket.contractType, 'prediction')
 	);
 
@@ -232,7 +235,8 @@ export function calculateMarginUSDCRequiredForTrade(
 			targetMarket,
 			baseSize.abs(),
 			'Initial',
-			userMaxMarginRatio
+			userMaxMarginRatio,
+			userHighLeverageMode
 		)
 	)
 		.mul(perpLiabilityValue)
@@ -251,13 +255,17 @@ export function calculateCollateralDepositRequiredForTrade(
 	targetMarketIndex: number,
 	baseSize: BN,
 	collateralIndex: number,
-	userMaxMarginRatio?: number
+	userMaxMarginRatio?: number,
+	userHighLeverageMode?: boolean,
+	estEntryPrice?: BN
 ): BN {
 	const marginRequiredUsdc = calculateMarginUSDCRequiredForTrade(
 		driftClient,
 		targetMarketIndex,
 		baseSize,
-		userMaxMarginRatio
+		userMaxMarginRatio,
+		userHighLeverageMode,
+		estEntryPrice
 	);
 
 	const collateralMarket = driftClient.getSpotMarketAccount(collateralIndex);

package/src/math/market.ts

@@ -130,8 +130,24 @@ export function calculateMarketMarginRatio(
 	market: PerpMarketAccount,
 	size: BN,
 	marginCategory: MarginCategory,
-	customMarginRatio = 0
+	customMarginRatio = 0,
+	userHighLeverageMode = false
 ): number {
+	let marginRationInitial;
+	let marginRatioMaintenance;
+
+	if (
+		userHighLeverageMode &&
+		market.highLeverageMarginRatioInitial > 0 &&
+		market.highLeverageMarginRatioMaintenance
+	) {
+		marginRationInitial = market.highLeverageMarginRatioInitial;
+		marginRatioMaintenance = market.highLeverageMarginRatioMaintenance;
+	} else {
+		marginRationInitial = market.marginRatioInitial;
+		marginRatioMaintenance = market.marginRatioMaintenance;
+	}
+
 	let marginRatio;
 	switch (marginCategory) {
 		case 'Initial': {
@@ -140,7 +156,7 @@ export function calculateMarketMarginRatio(
 				calculateSizePremiumLiabilityWeight(
 					size,
 					new BN(market.imfFactor),
-					new BN(market.marginRatioInitial),
+					new BN(marginRationInitial),
 					MARGIN_PRECISION
 				).toNumber(),
 				customMarginRatio
@@ -151,7 +167,7 @@ export function calculateMarketMarginRatio(
 			marginRatio = calculateSizePremiumLiabilityWeight(
 				size,
 				new BN(market.imfFactor),
-				new BN(market.marginRatioMaintenance),
+				new BN(marginRatioMaintenance),
 				MARGIN_PRECISION
 			).toNumber();
 			break;

package/src/types.ts

@@ -68,6 +68,11 @@ export enum UserStatus {
 	ADVANCED_LP = 8,
 }
 
+export class MarginMode {
+	static readonly DEFAULT = { default: {} };
+	static readonly HIGH_LEVERAGE = { highLeverage: {} };
+}
+
 export class ContractType {
 	static readonly PERPETUAL = { perpetual: {} };
 	static readonly FUTURE = { future: {} };
@@ -661,6 +666,9 @@ export type PerpMarketAccount = {
 	fuelBoostTaker: number;
 	fuelBoostMaker: number;
 	fuelBoostPosition: number;
+
+	highLeverageMarginRatioInitial: number;
+	highLeverageMarginRatioMaintenance: number;
 };
 
 export type HistoricalOracleData = {
@@ -950,6 +958,7 @@ export type UserAccount = {
 	openAuctions: number;
 	hasOpenAuction: boolean;
 	lastFuelBonusUpdateTs: number;
+	marginMode: MarginMode;
 };
 
 export type SpotPosition = {
@@ -1301,3 +1310,9 @@ export type SignedTxData = {
 	lastValidBlockHeight?: number;
 	blockHash: string;
 };
+
+export type HighLeverageModeConfig = {
+	maxUsers: number;
+	currentUsers: number;
+	reduceOnly: boolean;
+};

package/src/user.ts

@@ -676,7 +676,8 @@ export class User {
 			this.driftClient.getPerpMarketAccount(marketIndex),
 			baseAssetAmount,
 			'Initial',
-			this.getUserAccount().maxMarginRatio
+			this.getUserAccount().maxMarginRatio,
+			this.isHighLeverageMode()
 		);
 
 		return freeCollateral.mul(MARGIN_PRECISION).div(new BN(marginRatio));
@@ -1507,7 +1508,8 @@ export class User {
 					market,
 					baseAssetAmount.abs(),
 					marginCategory,
-					this.getUserAccount().maxMarginRatio
+					this.getUserAccount().maxMarginRatio,
+					this.isHighLeverageMode()
 				)
 			);
 
@@ -1972,7 +1974,8 @@ export class User {
 			market,
 			maxSize,
 			marginCategory,
-			this.getUserAccount().maxMarginRatio
+			this.getUserAccount().maxMarginRatio,
+			this.isHighLeverageMode()
 		);
 
 		// use more fesible size since imf factor activated
@@ -1993,7 +1996,8 @@ export class User {
 				market,
 				targetSize,
 				marginCategory,
-				this.getUserAccount().maxMarginRatio
+				this.getUserAccount().maxMarginRatio,
+				this.isHighLeverageMode()
 			);
 			attempts += 1;
 		}
@@ -2154,6 +2158,10 @@ export class User {
 		return (this.getUserAccount().status & UserStatus.BANKRUPT) > 0;
 	}
 
+	public isHighLeverageMode(): boolean {
+		return isVariant(this.getUserAccount().marginMode, 'highLeverage');
+	}
+
 	/**
 	 * Checks if any user position cumulative funding differs from respective market cumulative funding
 	 * @returns
@@ -2443,7 +2451,9 @@ export class User {
 			const marginRatio = calculateMarketMarginRatio(
 				market,
 				baseAssetAmount.abs(),
-				'Maintenance'
+				'Maintenance',
+				this.getUserAccount().maxMarginRatio,
+				this.isHighLeverageMode()
 			);
 
 			return liabilityValue.mul(new BN(marginRatio)).div(MARGIN_PRECISION);
@@ -2488,7 +2498,8 @@ export class User {
 			market,
 			proposedBaseAssetAmount.abs(),
 			marginCategory,
-			this.getUserAccount().maxMarginRatio
+			this.getUserAccount().maxMarginRatio,
+			this.isHighLeverageMode()
 		);
 		const marginRatioQuotePrecision = new BN(marginRatio)
 			.mul(QUOTE_PRECISION)
@@ -2602,13 +2613,16 @@ export class User {
 
 	public getMarginUSDCRequiredForTrade(
 		targetMarketIndex: number,
-		baseSize: BN
+		baseSize: BN,
+		estEntryPrice?: BN
 	): BN {
 		return calculateMarginUSDCRequiredForTrade(
 			this.driftClient,
 			targetMarketIndex,
 			baseSize,
-			this.getUserAccount().maxMarginRatio
+			this.getUserAccount().maxMarginRatio,
+			undefined,
+			estEntryPrice
 		);
 	}
 
@@ -2622,7 +2636,8 @@ export class User {
 			targetMarketIndex,
 			baseSize,
 			collateralIndex,
-			this.getUserAccount().maxMarginRatio
+			this.getUserAccount().maxMarginRatio,
+			false // assume user cant be high leverage if they havent created user account ?
 		);
 	}
 
@@ -3771,7 +3786,8 @@ export class User {
 				perpMarket,
 				worstCaseBaseAmount.abs(),
 				marginCategory,
-				this.getUserAccount().maxMarginRatio
+				this.getUserAccount().maxMarginRatio,
+				this.isHighLeverageMode()
 			)
 		);