bigz/update-amm-last-update-slot-neg-tfmq

CHANGELOG.md

@@ -11,6 +11,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Fixes
 
+- program: disable lower bound check for update amm once it's already been breached ([#292](https://github.com/drift-labs/protocol-v2/pull/292))
 - ts-sdk: fix DLOB.updateOrder ([#290](https://github.com/drift-labs/protocol-v2/pull/290))
 - ts-sdk: make calculateClaimablePnl mirror on-chain logic ([#291](https://github.com/drift-labs/protocol-v2/pull/291))
 - ts-sdk: add margin trading toggle field to user accounts, update toggle margin trading function to add ability to toggle for any subaccount rather than just the active ([#285](https://github.com/drift-labs/protocol-v2/pull/285))

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

@@ -503,16 +503,16 @@ pub fn update_amm_larg_conf_w_neg_tfmd_test() {
     };
 
     let cost_of_update = _update_amm(&mut market, &oracle_price_data, &state, now, slot).unwrap();
-    assert_eq!(cost_of_update, 0);
-    assert_eq!(market.amm.long_spread, 377);
-    assert_eq!(market.amm.short_spread, 975 - 377);
+    assert_eq!(cost_of_update, 299407);
+    assert_eq!(market.amm.long_spread, 378);
+    assert_eq!(market.amm.short_spread, 975 - 378);
 
     let mrk = market.amm.reserve_price().unwrap();
     let (bid, ask) = market.amm.bid_ask_price(mrk).unwrap();
 
-    assert_eq!(bid, 18817611205);
-    assert_eq!(mrk, 18828870870);
-    assert_eq!(ask, 18835969354);
+    assert_eq!(bid, 18817335418);
+    assert_eq!(mrk, 18828576078);
+    assert_eq!(ask, 18835693279);
     assert_eq!((oracle_price_data.price as u64) > bid, true);
     assert_eq!((oracle_price_data.price as u64) < ask, true);
 }

programs/drift/src/math/repeg.rs

@@ -436,6 +436,10 @@ pub fn calculate_optimal_peg_and_budget(
 
             fee_budget = calculate_repeg_cost(&market.amm, optimal_peg)?.cast::<u128>()?;
 
+            check_lower_bound = false;
+        } else if market.amm.total_fee_minus_distributions
+            < get_total_fee_lower_bound(market)?.cast()?
+        {
             check_lower_bound = false;
         }
     }

programs/drift/src/math/repeg/tests.rs

@@ -4,6 +4,8 @@ use crate::math::constants::{
     QUOTE_PRECISION,
 };
 use crate::math::repeg::*;
+use crate::state::oracle::HistoricalOracleData;
+use crate::state::state::{PriceDivergenceGuardRails, State, ValidityGuardRails};
 
 #[test]
 fn calc_peg_tests() {
@@ -158,6 +160,76 @@ fn calculate_optimal_peg_and_budget_test() {
     assert!(!check_lb);
 }
 
+#[test]
+fn calculate_optimal_peg_and_budget_2_test() {
+    let mut market = PerpMarket {
+        amm: AMM {
+            base_asset_reserve: 2270516211133,
+            quote_asset_reserve: 2270925669621,
+            terminal_quote_asset_reserve: 2270688451627,
+            sqrt_k: 2270720931148,
+            peg_multiplier: 17723081263,
+            base_asset_amount_with_amm: 237200000,
+            mark_std: 43112524,
+            last_mark_price_twap_ts: 0,
+            base_spread: 250,
+            curve_update_intensity: 100,
+            max_spread: 500 * 100,
+            total_exchange_fee: 298628987,
+            total_fee_minus_distributions: -242668966,
+            total_fee_withdrawn: 124247717,
+            concentration_coef: 1020710,
+            historical_oracle_data: HistoricalOracleData {
+                last_oracle_price_twap: 17765940050,
+                last_oracle_price_twap_5min: 17763317077,
+                ..HistoricalOracleData::default()
+            },
+            ..AMM::default()
+        },
+        margin_ratio_initial: 500,
+
+        ..PerpMarket::default()
+    };
+
+    let oracle_price_data = OraclePriceData {
+        price: (17_800 * PRICE_PRECISION) as i64,
+        confidence: 10233,
+        delay: 2,
+        has_sufficient_number_of_data_points: true,
+    };
+
+    let (optimal_peg, budget, check_lb) =
+        calculate_optimal_peg_and_budget(&market, &oracle_price_data).unwrap();
+
+    assert_eq!(optimal_peg, 17796790576);
+    assert_eq!(optimal_peg > oracle_price_data.price as u128, false);
+    assert_eq!(budget, 0);
+    assert_eq!(check_lb, false); // because market.amm.total_fee_minus_distributions < get_total_fee_lower_bound(market)?.cast()
+    use crate::controller::repeg::*;
+
+    let state = State {
+        oracle_guard_rails: OracleGuardRails {
+            price_divergence: PriceDivergenceGuardRails {
+                mark_oracle_divergence_numerator: 1,
+                mark_oracle_divergence_denominator: 10,
+            },
+            validity: ValidityGuardRails {
+                slots_before_stale_for_amm: 10,     // 5s
+                slots_before_stale_for_margin: 120, // 60s
+                confidence_interval_max_size: 1000,
+                too_volatile_ratio: 5,
+            },
+        },
+        ..State::default()
+    };
+
+    // test amm update
+    assert_eq!(market.amm.last_update_slot, 0);
+    let c = _update_amm(&mut market, &oracle_price_data, &state, 1, 1337).unwrap();
+    assert_eq!(c, 424);
+    assert_eq!(market.amm.last_update_slot, 1337);
+}
+
 #[test]
 fn calc_adjust_amm_tests_repeg_in_favour() {
     // btc-esque market