Merge remote-tracking branch 'origin/master' into wphan/builder_codes

Author: wphan

CHANGELOG.md

@@ -9,6 +9,9 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Features
 
+- program: auction order params account for twap divergence ([#1882](https://github.com/drift-labs/protocol-v2/pull/1882))
+- program: add delegate stake if ([#1859](https://github.com/drift-labs/protocol-v2/pull/1859))
+
 ### Fixes
 
 ### Breaking

programs/drift/src/controller/insurance.rs

@@ -1098,6 +1098,14 @@ pub fn handle_if_end_swap(
         if_rebalance_config.epoch_max_in_amount
     )?;
 
+    validate!(
+        if_rebalance_config.current_in_amount <= if_rebalance_config.total_in_amount,
+        ErrorCode::InvalidIfRebalanceSwap,
+        "current_in_amount={} > total_in_amount={}",
+        if_rebalance_config.current_in_amount,
+        if_rebalance_config.total_in_amount
+    )?;
+
     let oracle_twap = out_spot_market
         .historical_oracle_data
         .last_oracle_price_twap;

programs/drift/src/instructions/admin.rs

@@ -18,11 +18,12 @@ use crate::instructions::optional_accounts::{load_maps, AccountMaps};
 use crate::math::casting::Cast;
 use crate::math::constants::{
     AMM_TIMES_PEG_TO_QUOTE_PRECISION_RATIO, DEFAULT_LIQUIDATION_MARGIN_BUFFER_RATIO,
-    FEE_POOL_TO_REVENUE_POOL_THRESHOLD, IF_FACTOR_PRECISION, INSURANCE_A_MAX, INSURANCE_B_MAX,
-    INSURANCE_C_MAX, INSURANCE_SPECULATIVE_MAX, LIQUIDATION_FEE_PRECISION,
-    MAX_CONCENTRATION_COEFFICIENT, MAX_SQRT_K, MAX_UPDATE_K_PRICE_CHANGE, PERCENTAGE_PRECISION,
-    PERCENTAGE_PRECISION_I64, QUOTE_SPOT_MARKET_INDEX, SPOT_CUMULATIVE_INTEREST_PRECISION,
-    SPOT_IMF_PRECISION, SPOT_WEIGHT_PRECISION, THIRTEEN_DAY, TWENTY_FOUR_HOUR,
+    FEE_POOL_TO_REVENUE_POOL_THRESHOLD, GOV_SPOT_MARKET_INDEX, IF_FACTOR_PRECISION,
+    INSURANCE_A_MAX, INSURANCE_B_MAX, INSURANCE_C_MAX, INSURANCE_SPECULATIVE_MAX,
+    LIQUIDATION_FEE_PRECISION, MAX_CONCENTRATION_COEFFICIENT, MAX_SQRT_K,
+    MAX_UPDATE_K_PRICE_CHANGE, PERCENTAGE_PRECISION, PERCENTAGE_PRECISION_I64,
+    QUOTE_SPOT_MARKET_INDEX, SPOT_CUMULATIVE_INTEREST_PRECISION, SPOT_IMF_PRECISION,
+    SPOT_WEIGHT_PRECISION, THIRTEEN_DAY, TWENTY_FOUR_HOUR,
 };
 use crate::math::cp_curve::get_update_k_result;
 use crate::math::helpers::get_proportion_u128;
@@ -45,6 +46,7 @@ use crate::state::fulfillment_params::serum::SerumContext;
 use crate::state::fulfillment_params::serum::SerumV3FulfillmentConfig;
 use crate::state::high_leverage_mode_config::HighLeverageModeConfig;
 use crate::state::if_rebalance_config::{IfRebalanceConfig, IfRebalanceConfigParams};
+use crate::state::insurance_fund_stake::InsuranceFundStake;
 use crate::state::insurance_fund_stake::ProtocolIfSharesTransferConfig;
 use crate::state::oracle::get_sb_on_demand_price;
 use crate::state::oracle::{
@@ -4915,6 +4917,39 @@ pub fn handle_update_feature_bit_flags_median_trigger_price(
     Ok(())
 }
 
+pub fn handle_update_delegate_user_gov_token_insurance_stake(
+    ctx: Context<UpdateDelegateUserGovTokenInsuranceStake>,
+) -> Result<()> {
+    let insurance_fund_stake = &mut load_mut!(ctx.accounts.insurance_fund_stake)?;
+    let user_stats = &mut load_mut!(ctx.accounts.user_stats)?;
+    let spot_market = &mut load_mut!(ctx.accounts.spot_market)?;
+
+    validate!(
+        insurance_fund_stake.market_index == GOV_SPOT_MARKET_INDEX,
+        ErrorCode::IncorrectSpotMarketAccountPassed,
+        "insurance_fund_stake is not for governance market index = {}",
+        GOV_SPOT_MARKET_INDEX
+    )?;
+
+    if insurance_fund_stake.market_index == GOV_SPOT_MARKET_INDEX
+        && spot_market.market_index == GOV_SPOT_MARKET_INDEX
+    {
+        let clock = Clock::get()?;
+        let now = clock.unix_timestamp;
+
+        crate::controller::insurance::update_user_stats_if_stake_amount(
+            0,
+            ctx.accounts.insurance_fund_vault.amount,
+            insurance_fund_stake,
+            user_stats,
+            spot_market,
+            now,
+        )?;
+    }
+
+    Ok(())
+}
+
 pub fn handle_update_feature_bit_flags_builder_codes(
     ctx: Context<HotAdminUpdateState>,
     enable: bool,
@@ -5803,3 +5838,27 @@ pub struct UpdateIfRebalanceConfig<'info> {
     )]
     pub state: Box<Account<'info, State>>,
 }
+
+#[derive(Accounts)]
+pub struct UpdateDelegateUserGovTokenInsuranceStake<'info> {
+    #[account(
+        mut,
+        seeds = [b"spot_market", 15_u16.to_le_bytes().as_ref()],
+        bump
+    )]
+    pub spot_market: AccountLoader<'info, SpotMarket>,
+    pub insurance_fund_stake: AccountLoader<'info, InsuranceFundStake>,
+    #[account(mut)]
+    pub user_stats: AccountLoader<'info, UserStats>,
+    pub admin: Signer<'info>,
+    #[account(
+        mut,
+        seeds = [b"insurance_fund_vault".as_ref(), 15_u16.to_le_bytes().as_ref()],
+        bump,
+    )]
+    pub insurance_fund_vault: Box<InterfaceAccount<'info, TokenAccount>>,
+    #[account(
+        has_one = admin
+    )]
+    pub state: Box<Account<'info, State>>,
+}

programs/drift/src/lib.rs

@@ -725,6 +725,7 @@ pub mod drift {
         handle_update_spot_market_expiry(ctx, expiry_ts)
     }
 
+    // IF stakers
     pub fn update_user_quote_asset_insurance_stake(
         ctx: Context<UpdateUserQuoteAssetInsuranceStake>,
     ) -> Result<()> {
@@ -737,7 +738,11 @@ pub mod drift {
         handle_update_user_gov_token_insurance_stake(ctx)
     }
 
-    // IF stakers
+    pub fn update_delegate_user_gov_token_insurance_stake(
+        ctx: Context<UpdateDelegateUserGovTokenInsuranceStake>,
+    ) -> Result<()> {
+        handle_update_delegate_user_gov_token_insurance_stake(ctx)
+    }
 
     pub fn initialize_insurance_fund_stake(
         ctx: Context<InitializeInsuranceFundStake>,

programs/drift/src/state/order_params.rs

@@ -702,13 +702,6 @@ impl OrderParams {
         }
         .cast::<i64>()?;
 
-        let baseline_start_price_offset_slow = mark_twap_slow.safe_sub(
-            perp_market
-                .amm
-                .historical_oracle_data
-                .last_oracle_price_twap,
-        )?;
-
         let baseline_start_price_offset_fast = perp_market
             .amm
             .last_mark_price_twap_5min
@@ -720,27 +713,42 @@ impl OrderParams {
                     .last_oracle_price_twap_5min,
             )?;
 
-        let frac_of_long_spread_in_price: i64 = perp_market
-            .amm
-            .long_spread
-            .cast::<i64>()?
-            .safe_mul(mark_twap_slow)?
-            .safe_div(PRICE_PRECISION_I64 * 10)?;
+        let baseline_start_price_offset_slow = mark_twap_slow.safe_sub(
+            perp_market
+                .amm
+                .historical_oracle_data
+                .last_oracle_price_twap,
+        )?;
 
-        let frac_of_short_spread_in_price: i64 = perp_market
-            .amm
-            .short_spread
-            .cast::<i64>()?
-            .safe_mul(mark_twap_slow)?
-            .safe_div(PRICE_PRECISION_I64 * 10)?;
-
-        let baseline_start_price_offset = match direction {
-            PositionDirection::Long => baseline_start_price_offset_slow
-                .safe_add(frac_of_long_spread_in_price)?
-                .min(baseline_start_price_offset_fast.safe_sub(frac_of_short_spread_in_price)?),
-            PositionDirection::Short => baseline_start_price_offset_slow
-                .safe_sub(frac_of_short_spread_in_price)?
-                .max(baseline_start_price_offset_fast.safe_add(frac_of_long_spread_in_price)?),
+        let baseline_start_price_offset = if baseline_start_price_offset_slow
+            .abs_diff(baseline_start_price_offset_fast)
+            <= perp_market.amm.last_mark_price_twap_5min / 200
+        {
+            let frac_of_long_spread_in_price: i64 = perp_market
+                .amm
+                .long_spread
+                .cast::<i64>()?
+                .safe_mul(mark_twap_slow)?
+                .safe_div(PRICE_PRECISION_I64 * 10)?;
+
+            let frac_of_short_spread_in_price: i64 = perp_market
+                .amm
+                .short_spread
+                .cast::<i64>()?
+                .safe_mul(mark_twap_slow)?
+                .safe_div(PRICE_PRECISION_I64 * 10)?;
+
+            match direction {
+                PositionDirection::Long => baseline_start_price_offset_slow
+                    .safe_add(frac_of_long_spread_in_price)?
+                    .min(baseline_start_price_offset_fast.safe_sub(frac_of_short_spread_in_price)?),
+                PositionDirection::Short => baseline_start_price_offset_slow
+                    .safe_sub(frac_of_short_spread_in_price)?
+                    .max(baseline_start_price_offset_fast.safe_add(frac_of_long_spread_in_price)?),
+            }
+        } else {
+            // more than 50bps different of fast/slow twap, use fast only
+            baseline_start_price_offset_fast
         };
 
         Ok(baseline_start_price_offset)
@@ -895,15 +903,15 @@ fn get_auction_duration(
 ) -> DriftResult<u8> {
     let percent_diff = price_diff.safe_mul(PERCENTAGE_PRECISION_U64)?.div(price);
 
-    let slots_per_bp = if contract_tier.is_as_safe_as_contract(&ContractTier::B) {
+    let slots_per_pct = if contract_tier.is_as_safe_as_contract(&ContractTier::B) {
         100
     } else {
         60
     };
 
     Ok(percent_diff
-        .safe_mul(slots_per_bp)?
-        .safe_div_ceil(PERCENTAGE_PRECISION_U64 / 100)? // 1% = 60 slots
+        .safe_mul(slots_per_pct)?
+        .safe_div_ceil(PERCENTAGE_PRECISION_U64 / 100)? // 1% = 40 slots
         .clamp(1, 180) as u8) // 180 slots max
 }