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program: rm lp #1755

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df3ab76
program: make lp shares reduce only
crispheaney Jul 16, 2025
fed9dc6
init
crispheaney Jul 19, 2025
e99ffa7
rm more fields
crispheaney Jul 19, 2025
25ab531
make tests build
crispheaney Jul 19, 2025
eba3f11
start sdk changes
crispheaney Jul 19, 2025
6274c79
merge master
0xbigz Aug 15, 2025
7b78f81
merge master 2
0xbigz Aug 15, 2025
e47370b
fix fmt + sqrt_k lower bound and some tests
0xbigz Aug 15, 2025
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3 changes: 1 addition & 2 deletions programs/drift/src/controller/amm.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -421,8 +421,7 @@ pub fn formulaic_update_k(

let new_sqrt_k = bn::U192::from(market.amm.sqrt_k)
.safe_mul(bn::U192::from(k_scale_numerator))?
.safe_div(bn::U192::from(k_scale_denominator))?
.max(bn::U192::from(market.amm.user_lp_shares.safe_add(1)?));
.safe_div(bn::U192::from(k_scale_denominator))?;

let update_k_result = get_update_k_result(market, new_sqrt_k, true)?;

Expand Down
56 changes: 0 additions & 56 deletions programs/drift/src/controller/amm/tests.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -255,62 +255,6 @@ fn iterative_no_bounds_formualic_k_tests() {
assert_eq!(market.amm.total_fee_minus_distributions, 985625029);
}

#[test]
fn decrease_k_up_to_user_lp_shares() {
let mut market = PerpMarket {
amm: AMM {
base_asset_reserve: 512295081967,
quote_asset_reserve: 488 * AMM_RESERVE_PRECISION,
sqrt_k: 500 * AMM_RESERVE_PRECISION,
user_lp_shares: 150 * AMM_RESERVE_PRECISION,
peg_multiplier: 50000000,
concentration_coef: MAX_CONCENTRATION_COEFFICIENT,
base_asset_amount_with_amm: -12295081967,
total_fee_minus_distributions: -100 * QUOTE_PRECISION as i128,
total_fee_withdrawn: 100 * QUOTE_PRECISION,
curve_update_intensity: 100,
..AMM::default()
},
..PerpMarket::default()
};
// let prev_sqrt_k = market.amm.sqrt_k;
let (new_terminal_quote_reserve, new_terminal_base_reserve) =
amm::calculate_terminal_reserves(&market.amm).unwrap();
market.amm.terminal_quote_asset_reserve = new_terminal_quote_reserve;
let (min_base_asset_reserve, max_base_asset_reserve) =
amm::calculate_bid_ask_bounds(market.amm.concentration_coef, new_terminal_base_reserve)
.unwrap();
market.amm.min_base_asset_reserve = min_base_asset_reserve;
market.amm.max_base_asset_reserve = max_base_asset_reserve;

// let reserve_price = market.amm.reserve_price().unwrap();
let now = 10000;
let oracle_price_data = OraclePriceData {
price: 50 * PRICE_PRECISION_I64,
confidence: 0,
delay: 2,
has_sufficient_number_of_data_points: true,
};

// negative funding cost
let mut count = 0;
let mut prev_k = market.amm.sqrt_k;
let mut new_k = 0;
while prev_k != new_k && count < 100000 {
let funding_cost = (QUOTE_PRECISION * 100000) as i128;
prev_k = market.amm.sqrt_k;
formulaic_update_k(&mut market, &oracle_price_data, funding_cost, now).unwrap();
new_k = market.amm.sqrt_k;
msg!("quote_asset_reserve:{}", market.amm.quote_asset_reserve);
msg!("new_k:{}", new_k);
count += 1
}

assert_eq!(market.amm.base_asset_amount_with_amm, -12295081967);
assert_eq!(market.amm.sqrt_k, 162234889619);
assert_eq!(market.amm.total_fee_minus_distributions, 29796232175);
}

#[test]
fn update_pool_balances_test_high_util_borrow() {
let mut market = PerpMarket {
Expand Down
63 changes: 4 additions & 59 deletions programs/drift/src/controller/liquidation.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -5,7 +5,6 @@ use anchor_lang::prelude::*;

use crate::controller::amm::get_fee_pool_tokens;
use crate::controller::funding::settle_funding_payment;
use crate::controller::lp::burn_lp_shares;
use crate::controller::orders;
use crate::controller::orders::{cancel_order, fill_perp_order, place_perp_order};
use crate::controller::position::{
Expand Down Expand Up @@ -181,8 +180,7 @@ pub fn liquidate_perp(
let position_index = get_position_index(&user.perp_positions, market_index)?;
validate!(
user.perp_positions[position_index].is_open_position()
|| user.perp_positions[position_index].has_open_order()
|| user.perp_positions[position_index].is_lp(),
|| user.perp_positions[position_index].has_open_order(),
ErrorCode::PositionDoesntHaveOpenPositionOrOrders
)?;

Expand Down Expand Up @@ -227,27 +225,7 @@ pub fn liquidate_perp(
drop(market);

// burning lp shares = removing open bids/asks
let lp_shares = user.perp_positions[position_index].lp_shares;
if lp_shares > 0 {
let (position_delta, pnl) = burn_lp_shares(
&mut user.perp_positions[position_index],
perp_market_map.get_ref_mut(&market_index)?.deref_mut(),
lp_shares,
oracle_price,
)?;

// emit LP record for shares removed
emit_stack::<_, { LPRecord::SIZE }>(LPRecord {
ts: now,
action: LPAction::RemoveLiquidity,
user: *user_key,
n_shares: lp_shares,
market_index,
delta_base_asset_amount: position_delta.base_asset_amount,
delta_quote_asset_amount: position_delta.quote_asset_amount,
pnl,
})?;
}
let lp_shares = 0;

// check if user exited liquidation territory
let intermediate_margin_calculation = if !canceled_order_ids.is_empty() || lp_shares > 0 {
Expand Down Expand Up @@ -832,8 +810,7 @@ pub fn liquidate_perp_with_fill(
let position_index = get_position_index(&user.perp_positions, market_index)?;
validate!(
user.perp_positions[position_index].is_open_position()
|| user.perp_positions[position_index].has_open_order()
|| user.perp_positions[position_index].is_lp(),
|| user.perp_positions[position_index].has_open_order(),
ErrorCode::PositionDoesntHaveOpenPositionOrOrders
)?;

Expand Down Expand Up @@ -878,27 +855,7 @@ pub fn liquidate_perp_with_fill(
drop(market);

// burning lp shares = removing open bids/asks
let lp_shares = user.perp_positions[position_index].lp_shares;
if lp_shares > 0 {
let (position_delta, pnl) = burn_lp_shares(
&mut user.perp_positions[position_index],
perp_market_map.get_ref_mut(&market_index)?.deref_mut(),
lp_shares,
oracle_price,
)?;

// emit LP record for shares removed
emit_stack::<_, { LPRecord::SIZE }>(LPRecord {
ts: now,
action: LPAction::RemoveLiquidity,
user: *user_key,
n_shares: lp_shares,
market_index,
delta_base_asset_amount: position_delta.base_asset_amount,
delta_quote_asset_amount: position_delta.quote_asset_amount,
pnl,
})?;
}
let lp_shares = 0;

// check if user exited liquidation territory
let intermediate_margin_calculation = if !canceled_order_ids.is_empty() || lp_shares > 0 {
Expand Down Expand Up @@ -2448,12 +2405,6 @@ pub fn liquidate_borrow_for_perp_pnl(
base_asset_amount
)?;

validate!(
!user_position.is_lp(),
ErrorCode::InvalidPerpPositionToLiquidate,
"user is an lp. must call liquidate_perp first"
)?;

let pnl = user_position.quote_asset_amount.cast::<i128>()?;

validate!(
Expand Down Expand Up @@ -2983,12 +2934,6 @@ pub fn liquidate_perp_pnl_for_deposit(
base_asset_amount
)?;

validate!(
!user_position.is_lp(),
ErrorCode::InvalidPerpPositionToLiquidate,
"user is an lp. must call liquidate_perp first"
)?;

let unsettled_pnl = user_position.quote_asset_amount.cast::<i128>()?;

validate!(
Expand Down
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