merge master

Author: moosecat2

CHANGELOG.md

@@ -13,6 +13,17 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Breaking
 
+## [2.142.0] - 2025-10-14
+
+### Features
+
+- program: add titan to whitelisted swap programs ([#1952](https://github.com/drift-labs/protocol-v2/pull/1952))
+- program: allow hot wallet to increase max spread and pause funding ([#1957](https://github.com/drift-labs/protocol-v2/pull/1957))
+
+### Fixes
+
+### Breaking
+
 ## [2.141.0] - 2025-10-03
 
 ### Features

Cargo.lock

@@ -1,6 +1,6 @@
 [package]
 name = "drift"
-version = "2.141.0"
+version = "2.142.0"
 description = "Created with Anchor"
 edition = "2018"
 

programs/drift/Cargo.toml

@@ -185,20 +185,33 @@ pub fn update_spreads(
     let max_ref_offset = market.amm.get_max_reference_price_offset()?;
 
     let reference_price_offset = if max_ref_offset > 0 {
-        let liquidity_ratio = amm_spread::calculate_inventory_liquidity_ratio(
-            market.amm.base_asset_amount_with_amm,
-            market.amm.base_asset_reserve,
-            market.amm.min_base_asset_reserve,
-            market.amm.max_base_asset_reserve,
-        )?;
+        let liquidity_ratio =
+            amm_spread::calculate_inventory_liquidity_ratio_for_reference_price_offset(
+                market.amm.base_asset_amount_with_amm,
+                market.amm.base_asset_reserve,
+                market.amm.min_base_asset_reserve,
+                market.amm.max_base_asset_reserve,
+            )?;
 
         let signed_liquidity_ratio =
             liquidity_ratio.safe_mul(market.amm.get_protocol_owned_position()?.signum().cast()?)?;
 
+        let deadband_pct = market.amm.get_reference_price_offset_deadband_pct()?;
+        let liquidity_fraction_after_deadband =
+            if signed_liquidity_ratio.unsigned_abs() <= deadband_pct {
+                0
+            } else {
+                signed_liquidity_ratio.safe_sub(
+                    deadband_pct
+                        .cast::<i128>()?
+                        .safe_mul(signed_liquidity_ratio.signum())?,
+                )?
+            };
+
         amm_spread::calculate_reference_price_offset(
             reserve_price,
             market.amm.last_24h_avg_funding_rate,
-            signed_liquidity_ratio,
+            liquidity_fraction_after_deadband,
             market.amm.min_order_size,
             market
                 .amm

programs/drift/src/controller/amm.rs

@@ -353,8 +353,20 @@ pub fn settle_expired_position(
 ) -> DriftResult {
     validate!(!user.is_bankrupt(), ErrorCode::UserBankrupt)?;
 
+    let position_index = match get_position_index(&user.perp_positions, perp_market_index) {
+        Ok(index) => index,
+        Err(_) => {
+            msg!("User has no position for market {}", perp_market_index);
+            return Ok(());
+        }
+    };
+
+    let can_skip_margin_calc = user.perp_positions[position_index].base_asset_amount == 0
+        && user.perp_positions[position_index].quote_asset_amount > 0;
+
     // cannot settle pnl this way on a user who is in liquidation territory
-    if !(meets_maintenance_margin_requirement(user, perp_market_map, spot_market_map, oracle_map)?)
+    if !meets_maintenance_margin_requirement(user, perp_market_map, spot_market_map, oracle_map)?
+        && !can_skip_margin_calc
     {
         return Err(ErrorCode::InsufficientCollateralForSettlingPNL);
     }
@@ -390,14 +402,6 @@ pub fn settle_expired_position(
         None,
     )?;
 
-    let position_index = match get_position_index(&user.perp_positions, perp_market_index) {
-        Ok(index) => index,
-        Err(_) => {
-            msg!("User has no position for market {}", perp_market_index);
-            return Ok(());
-        }
-    };
-
     let quote_spot_market = &mut spot_market_map.get_quote_spot_market_mut()?;
     let perp_market = &mut perp_market_map.get_ref_mut(&perp_market_index)?;
     validate!(

programs/drift/src/controller/pnl.rs

@@ -843,7 +843,7 @@ fn amm_ref_price_offset_decay_logic() {
     .unwrap();
     assert_eq!(perp_market.amm.last_update_slot, clock_slot);
     assert_eq!(perp_market.amm.last_oracle_valid, true);
-    assert_eq!(perp_market.amm.reference_price_offset, 7350);
+    assert_eq!(perp_market.amm.reference_price_offset, 4458);
 
     perp_market.amm.last_mark_price_twap_5min = (perp_market
         .amm
@@ -893,28 +893,28 @@ fn amm_ref_price_offset_decay_logic() {
     assert_eq!(
         offsets,
         [
-            7140, 6930, 6720, 6510, 6300, 6090, 6070, 6050, 6030, 6010, 5800, 5590, 5380, 5170,
-            4960, 4750, 4540, 4330, 4120, 3910, 3700, 3490, 3280, 3070, 2860, 2650, 2440, 2230,
-            2020, 1810, 1620, 1449, 1296, 1158, 1034, 922, 821, 730, 648, 575, 509, 450, 396, 348,
-            305, 266, 231, 199, 171, 145, 122, 101, 81, 61, 41, 21, 1, 0, 0, 0
+            4248, 4038, 3828, 3618, 3408, 3198, 3178, 3158, 3138, 3118, 2908, 2698, 2488, 2278,
+            2068, 1858, 1664, 1489, 1332, 1190, 1062, 947, 844, 751, 667, 592, 524, 463, 408, 359,
+            315, 275, 239, 207, 178, 152, 128, 107, 87, 67, 47, 27, 7, 0, 0, 0, 0, 0, 0, 0, 0, 0,
+            0, 0, 0, 0, 0, 0, 0, 0
         ]
     );
     assert_eq!(
         lspreads,
         [
-            726, 726, 726, 726, 726, 726, 536, 536, 536, 536, 726, 726, 726, 726, 726, 726, 726,
-            726, 726, 726, 726, 726, 726, 726, 726, 726, 726, 726, 726, 726, 706, 687, 669, 654,
-            640, 628, 617, 607, 598, 589, 582, 575, 570, 564, 559, 555, 551, 548, 544, 542, 539,
-            537, 536, 536, 536, 536, 536, 526, 526, 526
+            726, 726, 726, 726, 726, 726, 536, 536, 536, 536, 726, 726, 726, 726, 726, 726, 710,
+            691, 673, 658, 644, 631, 619, 609, 600, 591, 584, 577, 571, 565, 560, 556, 552, 548,
+            545, 542, 540, 537, 536, 536, 536, 536, 536, 526, 526, 526, 526, 526, 526, 526, 526,
+            526, 526, 526, 526, 526, 526, 526, 526, 526
         ]
     );
     assert_eq!(
         sspreads,
         [
-            7150, 6940, 6730, 6520, 6310, 6100, 6080, 6060, 6040, 6020, 5810, 5600, 5390, 5180,
-            4970, 4760, 4550, 4340, 4130, 3920, 3710, 3500, 3290, 3080, 2870, 2660, 2450, 2240,
-            2030, 1820, 1630, 1459, 1306, 1168, 1044, 932, 831, 740, 658, 585, 519, 460, 406, 358,
-            315, 276, 241, 209, 181, 155, 132, 111, 91, 71, 51, 31, 11, 10, 10, 10
+            4258, 4048, 3838, 3628, 3418, 3208, 3188, 3168, 3148, 3128, 2918, 2708, 2498, 2288,
+            2078, 1868, 1674, 1499, 1342, 1200, 1072, 957, 854, 761, 677, 602, 534, 473, 418, 369,
+            325, 285, 249, 217, 188, 162, 138, 117, 97, 77, 57, 37, 17, 10, 10, 10, 10, 10, 10, 10,
+            10, 10, 10, 10, 10, 10, 10, 10, 10, 10
         ]
     );
 }
@@ -1017,7 +1017,7 @@ fn amm_negative_ref_price_offset_decay_logic() {
     .unwrap();
     assert_eq!(perp_market.amm.last_update_slot, clock_slot);
     assert_eq!(perp_market.amm.last_oracle_valid, true);
-    assert_eq!(perp_market.amm.reference_price_offset, 7350);
+    assert_eq!(perp_market.amm.reference_price_offset, 4458);
 
     perp_market.amm.last_mark_price_twap_5min = (perp_market
         .amm
@@ -1068,34 +1068,31 @@ fn amm_negative_ref_price_offset_decay_logic() {
     assert_eq!(
         offsets,
         [
-            -7140, -6930, -6720, -6510, -6300, -6090, -6070, -6050, -6030, -6010, -5800, -5590,
-            -5380, -5170, -4960, -4750, -4540, -4330, -4120, -3910, -3700, -3490, -3280, -3070,
-            -2860, -2650, -2440, -2230, -2020, -1810, -1600, -1390, -1180, -970, -760, -550, -340,
-            -130, 0, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000,
-            10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000,
-            10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000, 10000,
-            10000, 10000, 10000, 10000, 10000, 10000
+            -4248, -4038, -3828, -3618, -3408, -3198, -3178, -3158, -3138, -3118, -2908, -2698,
+            -2488, -2278, -2068, -1858, -1648, -1438, -1228, -1018, -808, -598, -388, -178, 0,
+            7654, 7652, 7651, 7649, 7648, 7646, 7645, 7643, 7641, 7640, 7638, 7637, 7635, 7634,
+            7632, 7631, 7629, 7628, 7626, 7625, 7623, 7622, 7620, 7619, 7618, 7616, 7615, 7613,
+            7612, 7610, 7609, 7607, 7606, 7605, 7603, 7602, 7600, 7599, 7597, 7596, 7595, 7593,
+            7592, 7591, 7589, 7588, 7586, 7585, 7584, 7582, 7581, 7580, 7578, 7577, 7576
         ]
     );
     assert_eq!(
         sspreads,
         [
             210, 210, 210, 210, 210, 210, 20, 20, 20, 20, 210, 210, 210, 210, 210, 210, 210, 210,
-            210, 210, 210, 210, 210, 210, 210, 210, 210, 210, 210, 210, 210, 210, 210, 210, 210,
-            210, 210, 210, 130, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10,
+            210, 210, 210, 210, 210, 210, 178, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10,
             10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10,
-            10, 10
+            10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10
         ]
     );
     assert_eq!(
         lspreads,
         [
-            7666, 7456, 7246, 7036, 6826, 6616, 6596, 6576, 6556, 6536, 6326, 6116, 5906, 5696,
-            5486, 5276, 5066, 4856, 4646, 4436, 4226, 4016, 3806, 3596, 3386, 3176, 2966, 2756,
-            2546, 2336, 2126, 1916, 1706, 1496, 1286, 1076, 866, 656, 526, 526, 526, 526, 526, 526,
+            4774, 4564, 4354, 4144, 3934, 3724, 3704, 3684, 3664, 3644, 3434, 3224, 3014, 2804,
+            2594, 2384, 2174, 1964, 1754, 1544, 1334, 1124, 914, 704, 526, 526, 526, 526, 526, 526,
             526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526,
             526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526,
-            526, 526
+            526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526, 526
         ]
     );
 }

programs/drift/src/controller/position/tests.rs

@@ -120,3 +120,8 @@ pub mod dflow_mainnet_aggregator_4 {
     use solana_program::declare_id;
     declare_id!("DF1ow4tspfHX9JwWJsAb9epbkA8hmpSEAtxXy1V27QBH");
 }
+
+pub mod titan_mainnet_argos_v1 {
+    use solana_program::declare_id;
+    declare_id!("T1TANpTeScyeqVzzgNViGDNrkQ6qHz9KrSBS4aNXvGT");
+}

programs/drift/src/ids.rs

@@ -1096,7 +1096,8 @@ pub fn handle_initialize_perp_market(
             quote_asset_amount_with_unsettled_lp: 0,
             reference_price_offset: 0,
             amm_inventory_spread_adjustment: 0,
-            padding: [0; 3],
+            reference_price_offset_deadband_pct: 0,
+            padding: [0; 2],
             last_funding_oracle_twap: 0,
         },
     };
@@ -3306,12 +3307,20 @@ pub fn handle_update_perp_market_status(
     perp_market_valid(&ctx.accounts.perp_market)
 )]
 pub fn handle_update_perp_market_paused_operations(
-    ctx: Context<AdminUpdatePerpMarket>,
+    ctx: Context<HotAdminUpdatePerpMarket>,
     paused_operations: u8,
 ) -> Result<()> {
     let perp_market = &mut load_mut!(ctx.accounts.perp_market)?;
     msg!("perp market {}", perp_market.market_index);
 
+    if *ctx.accounts.admin.key != ctx.accounts.state.admin {
+        validate!(
+            paused_operations == PerpOperation::UpdateFunding as u8,
+            ErrorCode::DefaultError,
+            "signer must be admin",
+        )?;
+    }
+
     perp_market.paused_operations = paused_operations;
 
     if perp_market.is_prediction_market() {
@@ -3487,6 +3496,49 @@ pub fn handle_update_perp_market_curve_update_intensity(
     Ok(())
 }
 
+#[access_control(
+    perp_market_valid(&ctx.accounts.perp_market)
+)]
+pub fn handle_update_perp_market_reference_price_offset_deadband_pct(
+    ctx: Context<HotAdminUpdatePerpMarket>,
+    reference_price_offset_deadband_pct: u8,
+) -> Result<()> {
+    validate!(
+        reference_price_offset_deadband_pct <= 100,
+        ErrorCode::DefaultError,
+        "invalid reference_price_offset_deadband_pct",
+    )?;
+    let perp_market = &mut load_mut!(ctx.accounts.perp_market)?;
+    msg!("perp market {}", perp_market.market_index);
+
+    msg!(
+        "perp_market.amm.reference_price_offset_deadband_pct: {} -> {}",
+        perp_market.amm.reference_price_offset_deadband_pct,
+        reference_price_offset_deadband_pct
+    );
+
+    let liquidity_ratio =
+        crate::math::amm_spread::calculate_inventory_liquidity_ratio_for_reference_price_offset(
+            perp_market.amm.base_asset_amount_with_amm,
+            perp_market.amm.base_asset_reserve,
+            perp_market.amm.min_base_asset_reserve,
+            perp_market.amm.max_base_asset_reserve,
+        )?;
+
+    let signed_liquidity_ratio = liquidity_ratio.safe_mul(
+        perp_market
+            .amm
+            .get_protocol_owned_position()?
+            .signum()
+            .cast()?,
+    )?;
+
+    msg!("current signed liquidity ratio: {}", signed_liquidity_ratio);
+
+    perp_market.amm.reference_price_offset_deadband_pct = reference_price_offset_deadband_pct;
+    Ok(())
+}
+
 pub fn handle_update_lp_cooldown_time(
     ctx: Context<AdminUpdateState>,
     lp_cooldown_time: u64,
@@ -3790,7 +3842,7 @@ pub fn handle_update_amm_jit_intensity(
     perp_market_valid(&ctx.accounts.perp_market)
 )]
 pub fn handle_update_perp_market_max_spread(
-    ctx: Context<AdminUpdatePerpMarket>,
+    ctx: Context<HotAdminUpdatePerpMarket>,
     max_spread: u32,
 ) -> Result<()> {
     let perp_market = &mut load_mut!(ctx.accounts.perp_market)?;

programs/drift/src/instructions/admin.rs

@@ -24,8 +24,10 @@ use crate::controller::token::{receive, send_from_program_vault};
 use crate::error::ErrorCode;
 use crate::get_then_update_id;
 use crate::ids::admin_hot_wallet;
-use crate::ids::dflow_mainnet_aggregator_4;
-use crate::ids::{jupiter_mainnet_3, jupiter_mainnet_4, jupiter_mainnet_6, serum_program};
+use crate::ids::{
+    dflow_mainnet_aggregator_4, jupiter_mainnet_3, jupiter_mainnet_4, jupiter_mainnet_6,
+    serum_program, titan_mainnet_argos_v1,
+};
 use crate::instructions::constraints::*;
 use crate::instructions::optional_accounts::get_revenue_share_escrow_account;
 use crate::instructions::optional_accounts::{load_maps, AccountMaps};
@@ -1734,11 +1736,12 @@ pub fn handle_liquidate_spot_with_swap_begin<'c: 'info, 'info>(
                     jupiter_mainnet_4::ID,
                     jupiter_mainnet_6::ID,
                     dflow_mainnet_aggregator_4::ID,
+                    titan_mainnet_argos_v1::ID,
                 ];
                 validate!(
                     whitelisted_programs.contains(&ix.program_id),
                     ErrorCode::InvalidLiquidateSpotWithSwap,
-                    "only allowed to pass in ixs to token, openbook, and Jupiter v3/v4/v6 programs"
+                    "only allowed to pass in ixs to ATA, openbook, Jupiter v3/v4/v6, dflow, or titan programs"
                 )?;
 
                 for meta in ix.accounts.iter() {

programs/drift/src/instructions/keeper.rs

@@ -22,10 +22,9 @@ use crate::controller::spot_position::{
 };
 use crate::error::ErrorCode;
 use crate::ids::admin_hot_wallet;
-use crate::ids::dflow_mainnet_aggregator_4;
 use crate::ids::{
-    jupiter_mainnet_3, jupiter_mainnet_4, jupiter_mainnet_6, lighthouse, marinade_mainnet,
-    serum_program,
+    dflow_mainnet_aggregator_4, jupiter_mainnet_3, jupiter_mainnet_4, jupiter_mainnet_6,
+    lighthouse, marinade_mainnet, serum_program, titan_mainnet_argos_v1,
 };
 use crate::instructions::constraints::*;
 use crate::instructions::optional_accounts::get_revenue_share_escrow_account;
@@ -3686,6 +3685,7 @@ pub fn handle_begin_swap<'c: 'info, 'info>(
                     jupiter_mainnet_4::ID,
                     jupiter_mainnet_6::ID,
                     dflow_mainnet_aggregator_4::ID,
+                    titan_mainnet_argos_v1::ID,
                 ];
                 if !delegate_is_signer {
                     whitelisted_programs.push(Token::id());
@@ -3695,7 +3695,7 @@ pub fn handle_begin_swap<'c: 'info, 'info>(
                 validate!(
                     whitelisted_programs.contains(&ix.program_id),
                     ErrorCode::InvalidSwap,
-                    "only allowed to pass in ixs to token, openbook, and Jupiter v3/v4/v6 programs"
+                    "only allowed to pass in ixs to ATA, openbook, Jupiter v3/v4/v6, dflow, or titan programs"
                 )?;
 
                 for meta in ix.accounts.iter() {