program: add fee adjustment to spot market (#987)

* program: add fee adjustment to spot market * CHANGELOG
drift-labs · Apr 1, 2024 · a0052b2 · a0052b2
1 parent 695b210
commit a0052b2
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diff --git a/CHANGELOG.md b/CHANGELOG.md
@@ -9,6 +9,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Features
 
+- program: add fee adjustment to spot market ([#987](https://github.com/drift-labs/protocol-v2/pull/987))
 - program: allow multiple makers to be passed into for spot fills ([#946](https://github.com/drift-labs/protocol-v2/pull/946)) 
 - ts-sdk: add fn to get admin ix  ([#980](https://github.com/drift-labs/protocol-v2/pull/980))
 - program: add invariant check boolean for attempt settle revenue to insurance ([#937](https://github.com/drift-labs/protocol-v2/pull/937)) 

diff --git a/programs/drift/src/controller/orders.rs b/programs/drift/src/controller/orders.rs
@@ -4238,7 +4238,7 @@ pub fn fulfill_spot_order_with_match(
         false,
         &None,
         &MarketType::Spot,
-        0,
+        base_market.fee_adjustment,
     )?;
 
     // Update taker state
@@ -4528,7 +4528,7 @@ pub fn fulfill_spot_order_with_external_market(
         external_market_fee,
         unsettled_referrer_rebate,
         fee_pool_amount.cast()?,
-        0,
+        base_market.fee_adjustment,
     )?;
 
     let quote_spot_position_delta = match quote_update_direction {

diff --git a/programs/drift/src/instructions/admin.rs b/programs/drift/src/instructions/admin.rs
@@ -272,7 +272,9 @@ pub fn handle_initialize_spot_market(
         total_spot_fee: 0,
         orders_enabled: spot_market_index != 0,
         paused_operations: 0,
-        padding1: [0; 5],
+        padding2: 0,
+        fee_adjustment: 0,
+        padding1: [0; 2],
         flash_loan_amount: 0,
         flash_loan_initial_token_amount: 0,
         total_swap_fee: 0,
@@ -2308,6 +2310,27 @@ pub fn handle_update_perp_market_fee_adjustment(
     Ok(())
 }
 
+#[access_control(
+    spot_market_valid(&ctx.accounts.spot_market)
+)]
+pub fn handle_update_spot_market_fee_adjustment(
+    ctx: Context<AdminUpdateSpotMarket>,
+    fee_adjustment: i16,
+) -> Result<()> {
+    let spot = &mut load_mut!(ctx.accounts.spot_market)?;
+
+    validate!(
+        fee_adjustment.unsigned_abs().cast::<u64>()? <= FEE_ADJUSTMENT_MAX,
+        ErrorCode::DefaultError,
+        "fee adjustment {} greater than max {}",
+        fee_adjustment,
+        FEE_ADJUSTMENT_MAX
+    )?;
+
+    spot.fee_adjustment = fee_adjustment;
+    Ok(())
+}
+
 pub fn handle_update_admin(ctx: Context<AdminUpdateState>, admin: Pubkey) -> Result<()> {
     ctx.accounts.state.admin = admin;
     Ok(())

diff --git a/programs/drift/src/lib.rs b/programs/drift/src/lib.rs
@@ -1135,6 +1135,13 @@ pub mod drift {
         handle_update_perp_market_fee_adjustment(ctx, fee_adjustment)
     }
 
+    pub fn update_spot_market_fee_adjustment(
+        ctx: Context<AdminUpdateSpotMarket>,
+        fee_adjustment: i16,
+    ) -> Result<()> {
+        handle_update_spot_market_fee_adjustment(ctx, fee_adjustment)
+    }
+
     pub fn update_admin(ctx: Context<AdminUpdateState>, admin: Pubkey) -> Result<()> {
         handle_update_admin(ctx, admin)
     }

diff --git a/programs/drift/src/state/spot_market.rs b/programs/drift/src/state/spot_market.rs
@@ -161,7 +161,9 @@ pub struct SpotMarket {
     /// The asset tier affects how a deposit can be used as collateral and the priority for a borrow being liquidated
     pub asset_tier: AssetTier,
     pub paused_operations: u8,
-    pub padding1: [u8; 5],
+    pub padding2: u8,
+    pub fee_adjustment: i16,
+    pub padding1: [u8; 2],
     /// For swaps, the amount of token loaned out in the begin_swap ix
     /// precision: token mint precision
     pub flash_loan_amount: u64,
@@ -230,7 +232,9 @@ impl Default for SpotMarket {
             status: MarketStatus::default(),
             asset_tier: AssetTier::default(),
             paused_operations: 0,
-            padding1: [0; 5],
+            padding2: 0,
+            fee_adjustment: 0,
+            padding1: [0; 2],
             flash_loan_amount: 0,
             flash_loan_initial_token_amount: 0,
             total_swap_fee: 0,

diff --git a/sdk/src/adminClient.ts b/sdk/src/adminClient.ts
@@ -2943,6 +2943,44 @@ export class AdminClient extends DriftClient {
 		);
 	}
 
+	public async updateSpotMarketFeeAdjustment(
+		perpMarketIndex: number,
+		feeAdjustment: number
+	): Promise<TransactionSignature> {
+		const updateSpotMarketFeeAdjustmentIx =
+			await this.getUpdateSpotMarketFeeAdjustmentIx(
+				perpMarketIndex,
+				feeAdjustment
+			);
+
+		const tx = await this.buildTransaction(updateSpotMarketFeeAdjustmentIx);
+
+		const { txSig } = await this.sendTransaction(tx, [], this.opts);
+
+		return txSig;
+	}
+
+	public async getUpdateSpotMarketFeeAdjustmentIx(
+		spotMarketIndex: number,
+		feeAdjustment: number
+	): Promise<TransactionInstruction> {
+		return await this.program.instruction.updateSpotMarketFeeAdjustment(
+			feeAdjustment,
+			{
+				accounts: {
+					admin: this.isSubscribed
+						? this.getStateAccount().admin
+						: this.wallet.publicKey,
+					state: await this.getStatePublicKey(),
+					spotMarket: await getSpotMarketPublicKey(
+						this.program.programId,
+						spotMarketIndex
+					),
+				},
+			}
+		);
+	}
+
 	public async updateSerumVault(
 		srmVault: PublicKey
 	): Promise<TransactionSignature> {

diff --git a/sdk/src/idl/drift.json b/sdk/src/idl/drift.json
@@ -4784,6 +4784,32 @@
         }
       ]
     },
+    {
+      "name": "updateSpotMarketFeeAdjustment",
+      "accounts": [
+        {
+          "name": "admin",
+          "isMut": false,
+          "isSigner": true
+        },
+        {
+          "name": "state",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "spotMarket",
+          "isMut": true,
+          "isSigner": false
+        }
+      ],
+      "args": [
+        {
+          "name": "feeAdjustment",
+          "type": "i16"
+        }
+      ]
+    },
     {
       "name": "updateAdmin",
       "accounts": [
@@ -6030,12 +6056,20 @@
             "name": "pausedOperations",
             "type": "u8"
           },
+          {
+            "name": "padding2",
+            "type": "u8"
+          },
+          {
+            "name": "feeAdjustment",
+            "type": "i16"
+          },
           {
             "name": "padding1",
             "type": {
               "array": [
                 "u8",
-                5
+                2
               ]
             }
           },