drift-labs
diff --git a/‎.github/actions/setup-solana/action.yaml
Lines changed: 3 additions & 1 deletion b/‎.github/actions/setup-solana/action.yaml
Lines changed: 3 additions & 1 deletion
diff --git a/‎.github/actions/setup-solana/scripts/solana-install-init.sh
Lines changed: 187 additions & 0 deletions b/‎.github/actions/setup-solana/scripts/solana-install-init.sh
Lines changed: 187 additions & 0 deletions
diff --git a/‎.github/workflows/main.yml
Lines changed: 2 additions & 0 deletions b/‎.github/workflows/main.yml
Lines changed: 2 additions & 0 deletions
diff --git a/‎CHANGELOG.md
Lines changed: 65 additions & 1 deletion b/‎CHANGELOG.md
Lines changed: 65 additions & 1 deletion
diff --git a/‎Cargo.lock
Lines changed: 1 addition & 1 deletion b/‎Cargo.lock
Lines changed: 1 addition & 1 deletion
diff --git a/‎programs/drift/Cargo.toml
Lines changed: 1 addition & 1 deletion b/‎programs/drift/Cargo.toml
Lines changed: 1 addition & 1 deletion
diff --git a/‎programs/drift/src/controller/amm.rs
Lines changed: 22 additions & 3 deletions b/‎programs/drift/src/controller/amm.rs
Lines changed: 22 additions & 3 deletions
diff --git a/‎programs/drift/src/controller/amm/tests.rs
Lines changed: 3 additions & 3 deletions b/‎programs/drift/src/controller/amm/tests.rs
Lines changed: 3 additions & 3 deletions
@@ -14,7 +14,9 @@ runs:
     - name: Download Solana
       run: |
         echo Downloading Solana v${{ env.SOLANA_VERSION }}... 🧬
-        sh -c "$(curl -sSfL https://release.solana.com/v${{ env.SOLANA_VERSION }}/install)"
+        export SOLANA_RELEASE=v${{ env.SOLANA_VERSION }}
+        export SOLANA_INSTALL_INIT_ARGS=v${{ env.SOLANA_VERSION }}
+        ${{ github.workspace }}/.github/actions/setup-solana/scripts/solana-install-init.sh
         echo "$HOME/.local/share/solana/install/active_release/bin" >> $GITHUB_PATH
         export PATH="$HOME/.local/share/solana/install/active_release/bin:$PATH"
         echo "[41,242,37,42,13,160,221,13,242,224,230,17,141,228,35,40,57,231,71,8,239,32,226,165,181,216,231,245,170,229,117,123,39,103,128,179,245,168,230,228,127,219,58,249,69,6,251,148,173,190,191,217,50,67,123,105,121,215,242,41,242,85,71,109]" > $HOME/.config/solana/id.json
 
@@ -0,0 +1,187 @@
+#!/bin/sh
+# Copyright 2016 The Rust Project Developers. See the COPYRIGHT
+# file at the top-level directory of this distribution and at
+# http://rust-lang.org/COPYRIGHT.
+#
+# Licensed under the Apache License, Version 2.0 <LICENSE-APACHE or
+# http://www.apache.org/licenses/LICENSE-2.0> or the MIT license
+# <LICENSE-MIT or http://opensource.org/licenses/MIT>, at your
+# option. This file may not be copied, modified, or distributed
+# except according to those terms.
+
+# This is just a little script that can be downloaded from the internet to
+# install solana-install. It just does platform detection, downloads the installer
+# and runs it.
+
+{ # this ensures the entire script is downloaded #
+
+if [ -z "$SOLANA_DOWNLOAD_ROOT" ]; then
+    SOLANA_DOWNLOAD_ROOT="https://github.com/solana-labs/solana/releases/download/"
+fi
+GH_LATEST_RELEASE="https://api.github.com/repos/solana-labs/solana/releases/latest"
+
+set -e
+
+usage() {
+    cat 1>&2 <<EOF
+solana-install-init
+initializes a new installation
+
+USAGE:
+    solana-install-init [FLAGS] [OPTIONS] --data_dir <PATH> --pubkey <PUBKEY>
+
+FLAGS:
+    -h, --help              Prints help information
+        --no-modify-path    Don't configure the PATH environment variable
+
+OPTIONS:
+    -d, --data-dir <PATH>    Directory to store install data
+    -u, --url <URL>          JSON RPC URL for the solana cluster
+    -p, --pubkey <PUBKEY>    Public key of the update manifest
+EOF
+}
+
+main() {
+    downloader --check
+    need_cmd uname
+    need_cmd mktemp
+    need_cmd chmod
+    need_cmd mkdir
+    need_cmd rm
+    need_cmd sed
+    need_cmd grep
+
+    for arg in "$@"; do
+      case "$arg" in
+        -h|--help)
+          usage
+          exit 0
+          ;;
+        *)
+          ;;
+      esac
+    done
+
+    _ostype="$(uname -s)"
+    _cputype="$(uname -m)"
+
+    case "$_ostype" in
+    Linux)
+      _ostype=unknown-linux-gnu
+      ;;
+    Darwin)
+      if [[ $_cputype = arm64 ]]; then
+        _cputype=aarch64
+      fi
+      _ostype=apple-darwin
+      ;;
+    *)
+      err "machine architecture is currently unsupported"
+      ;;
+    esac
+    TARGET="${_cputype}-${_ostype}"
+
+    temp_dir="$(mktemp -d 2>/dev/null || ensure mktemp -d -t solana-install-init)"
+    ensure mkdir -p "$temp_dir"
+
+    # Check for SOLANA_RELEASE environment variable override.  Otherwise fetch
+    # the latest release tag from github
+    if [ -n "$SOLANA_RELEASE" ]; then
+      release="$SOLANA_RELEASE"
+    else
+      release_file="$temp_dir/release"
+      printf 'looking for latest release\n' 1>&2
+      ensure downloader "$GH_LATEST_RELEASE" "$release_file"
+      release=$(\
+        grep -m 1 \"tag_name\": "$release_file" \
+        | sed -ne 's/^ *"tag_name": "\([^"]*\)",$/\1/p' \
+      )
+      if [ -z "$release" ]; then
+        err 'Unable to figure latest release'
+      fi
+    fi
+
+    download_url="$SOLANA_DOWNLOAD_ROOT/$release/solana-install-init-$TARGET"
+    solana_install_init="$temp_dir/solana-install-init"
+
+    printf 'downloading %s installer\n' "$release" 1>&2
+
+    ensure mkdir -p "$temp_dir"
+    ensure downloader "$download_url" "$solana_install_init"
+    ensure chmod u+x "$solana_install_init"
+    if [ ! -x "$solana_install_init" ]; then
+        printf '%s\n' "Cannot execute $solana_install_init (likely because of mounting /tmp as noexec)." 1>&2
+        printf '%s\n' "Please copy the file to a location where you can execute binaries and run ./solana-install-init." 1>&2
+        exit 1
+    fi
+
+    if [ -z "$1" ]; then
+      #shellcheck disable=SC2086
+      ignore "$solana_install_init" $SOLANA_INSTALL_INIT_ARGS
+    else
+      ignore "$solana_install_init" "$@"
+    fi
+    retval=$?
+
+    ignore rm "$solana_install_init"
+    ignore rm -rf "$temp_dir"
+
+    return "$retval"
+}
+
+err() {
+    printf 'solana-install-init: %s\n' "$1" >&2
+    exit 1
+}
+
+need_cmd() {
+    if ! check_cmd "$1"; then
+        err "need '$1' (command not found)"
+    fi
+}
+
+check_cmd() {
+    command -v "$1" > /dev/null 2>&1
+}
+
+# Run a command that should never fail. If the command fails execution
+# will immediately terminate with an error showing the failing
+# command.
+ensure() {
+    if ! "$@"; then
+      err "command failed: $*"
+    fi
+}
+
+# This is just for indicating that commands' results are being
+# intentionally ignored. Usually, because it's being executed
+# as part of error handling.
+ignore() {
+    "$@"
+}
+
+# This wraps curl or wget. Try curl first, if not installed,
+# use wget instead.
+downloader() {
+    if check_cmd curl; then
+        program=curl
+    elif check_cmd wget; then
+        program=wget
+    else
+        program='curl or wget' # to be used in error message of need_cmd
+    fi
+
+    if [ "$1" = --check ]; then
+        need_cmd "$program"
+    elif [ "$program" = curl ]; then
+        curl -sSfL "$1" -o "$2"
+    elif [ "$program" = wget ]; then
+        wget "$1" -O "$2"
+    else
+        err "Unknown downloader"   # should not reach here
+    fi
+}
+
+main "$@"
+
+} # this ensures the entire script is downloaded #
@@ -149,6 +149,8 @@ jobs:
         run: cd sdk/ && yarn && yarn build && cd ..
 
       - name: run anchor tests
+        env:
+          RUST_LOG: solana_runtime::message_processor::stable_log=info
         run: bash test-scripts/run-anchor-tests.sh
   verify-sdk-configs:
     name: Verify SDK Configs
 
@@ -5,14 +5,78 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [Unreleased]
+## Unreleased
+
+### Features
+
+### Fixes
+
+### Breaking
+
+## [2.125.0] - 2025-06-24
+
+### Features
+
+- program: use three points for std estimator ([#1686](https://github.com/drift-labs/protocol-v2/pull/1686))
+- program: add inventory component amm_spread_adjustment ([#1690](https://github.com/drift-labs/protocol-v2/pull/1690))
+- program: spot market specific rev pool to insurance cap ([#1692](https://github.com/drift-labs/protocol-v2/pull/1692))
+- program: better account for imf in calculate_max_perp_order_size ([#1693](https://github.com/drift-labs/protocol-v2/pull/1693))
+
+### Fixes
+
+### Breaking
+
+## [2.124.0] - 2025-06-18
 
 ### Features
 
+- program: perp market amm oracle delay override ([#1679](https://github.com/drift-labs/protocol-v2/pull/1679))
+- program: sanitize long tail perp market orders less frequently ([#1641](https://github.com/drift-labs/protocol-v2/pull/1641))
+- program: programmatic rebalance between protocol owned if holdings ([#1653](https://github.com/drift-labs/protocol-v2/pull/1653))
+
 ### Fixes
 
 ### Breaking
 
+## [2.123.0] - 2025-06-13
+
+### Features
+
+- program: simplify user can skip duration ([#1668](https://github.com/drift-labs/protocol-v2/pull/1668))
+- program: allow limit orders without auctions in swift ([#1661](https://github.com/drift-labs/protocol-v2/pull/1661))
+- program: add taker_speed_bump_override and amm_spread_adjustment ([#1665](https://github.com/drift-labs/protocol-v2/pull/1665))
+
+### Fixes
+
+### Breaking
+
+## [2.122.0] - 2025-06-05
+
+### Features
+
+- program: add existing position fields to order records ([#1614](https://github.com/drift-labs/protocol-v2/pull/1614))
+
+### Fixes
+
+- sdk: fix to getMaxTradeSizeUSDCForPerp which was previously overshooting max allowed size due to IMF factor
+- program: check limit price after applying buffer in trigger limit order ([#1648](https://github.com/drift-labs/protocol-v2/pull/1648))
+- program: check limit price when setting auction for limit order ([#1650](https://github.com/drift-labs/protocol-v2/pull/1650))
+
+### Breaking
+
+## [2.121.0] - 2025-05-29
+
+### Features
+
+- program: multi piecewise interest rate curve ([#1560](https://github.com/drift-labs/protocol-v2/pull/1560))
+- sdk: fees and max perp trade size calculation functions allow an optional parameter for a user using bitFlags to enter high leverage mode
+
+### Fixes
+
+- program: safely use saturating sub number_of_users fields per market ([#1616](https://github.com/drift-labs/protocol-v2/pull/1616))
+
+### Breaking
+
 ## [2.120.0] - 2025-04-29
 
 ### Features
 
@@ -1,6 +1,6 @@
 [package]
 name = "drift"
-version = "2.120.0"
+version = "2.125.0"
 description = "Created with Anchor"
 edition = "2018"
 
 
@@ -15,8 +15,8 @@ use crate::math::amm::calculate_quote_asset_amount_swapped;
 use crate::math::amm_spread::{calculate_spread_reserves, get_spread_reserves};
 use crate::math::casting::Cast;
 use crate::math::constants::{
-    CONCENTRATION_PRECISION, FEE_POOL_TO_REVENUE_POOL_THRESHOLD, K_BPS_UPDATE_SCALE,
-    MAX_CONCENTRATION_COEFFICIENT, MAX_K_BPS_INCREASE, MAX_SQRT_K,
+    CONCENTRATION_PRECISION, FEE_ADJUSTMENT_MAX, FEE_POOL_TO_REVENUE_POOL_THRESHOLD,
+    K_BPS_UPDATE_SCALE, MAX_CONCENTRATION_COEFFICIENT, MAX_K_BPS_INCREASE, MAX_SQRT_K,
 };
 use crate::math::cp_curve::get_update_k_result;
 use crate::math::repeg::get_total_fee_lower_bound;
@@ -209,7 +209,7 @@ pub fn update_spreads(market: &mut PerpMarket, reserve_price: u64) -> DriftResul
         0
     };
 
-    let (long_spread, short_spread) = if market.amm.curve_update_intensity > 0 {
+    let (mut long_spread, mut short_spread) = if market.amm.curve_update_intensity > 0 {
         amm_spread::calculate_spread(
             market.amm.base_spread,
             market.amm.last_oracle_reserve_price_spread_pct,
@@ -230,12 +230,31 @@ pub fn update_spreads(market: &mut PerpMarket, reserve_price: u64) -> DriftResul
             market.amm.long_intensity_volume,
             market.amm.short_intensity_volume,
             market.amm.volume_24h,
+            market.amm.amm_inventory_spread_adjustment,
         )?
     } else {
         let half_base_spread = market.amm.base_spread.safe_div(2)?;
         (half_base_spread, half_base_spread)
     };
 
+    if market.amm.amm_spread_adjustment < 0 {
+        let adjustment = market.amm.amm_spread_adjustment.unsigned_abs().cast()?;
+        long_spread = long_spread
+            .saturating_sub(long_spread.saturating_mul(adjustment).safe_div(100)?)
+            .max(1);
+        short_spread = short_spread
+            .saturating_sub(short_spread.saturating_mul(adjustment).safe_div(100)?)
+            .max(1);
+    } else if market.amm.amm_spread_adjustment > 0 {
+        let adjustment = market.amm.amm_spread_adjustment.cast()?;
+        long_spread = long_spread
+            .saturating_add(long_spread.saturating_mul(adjustment).safe_div_ceil(100)?)
+            .max(1);
+        short_spread = short_spread
+            .saturating_add(short_spread.saturating_mul(adjustment).safe_div_ceil(100)?)
+            .max(1);
+    }
+
     market.amm.long_spread = long_spread;
     market.amm.short_spread = short_spread;
     market.amm.reference_price_offset = reference_price_offset;
 
@@ -513,8 +513,8 @@ fn update_pool_balances_test() {
         market.pnl_pool.balance_type(),
     )
     .unwrap();
-    assert_eq!(pnl_pool_token_amount, 1_650_000_000 + 3);
-    assert_eq!(amm_fee_pool_token_amount, 16_666_666);
+    assert_eq!(pnl_pool_token_amount, 3_300_000_000 + 3);
+    assert_eq!(amm_fee_pool_token_amount, 33333333);
 
     // negative fee pool
     market.amm.total_fee_minus_distributions = -8_008_123_456;
@@ -539,7 +539,7 @@ fn update_pool_balances_test() {
         market.pnl_pool.balance_type(),
     )
     .unwrap();
-    assert_eq!(pnl_pool_token_amount, 665678880);
+    assert_eq!(pnl_pool_token_amount, 2332345547);
     assert_eq!(amm_fee_pool_token_amount, 0);
 }
Original file line number	Diff line number	Diff line change
`@@ -513,8 +513,8 @@ fn update_pool_balances_test() {`
`513`	`513`	`market.pnl_pool.balance_type(),`
`514`	`514`	`)`
`515`	`515`	`.unwrap();`
`516`		`- assert_eq!(pnl_pool_token_amount, 1_650_000_000 + 3);`
`517`		`- assert_eq!(amm_fee_pool_token_amount, 16_666_666);`
	`516`	`+ assert_eq!(pnl_pool_token_amount, 3_300_000_000 + 3);`
	`517`	`+ assert_eq!(amm_fee_pool_token_amount, 33333333);`
`518`	`518`
`519`	`519`	`// negative fee pool`
`520`	`520`	`market.amm.total_fee_minus_distributions = -8_008_123_456;`
`@@ -539,7 +539,7 @@ fn update_pool_balances_test() {`
`539`	`539`	`market.pnl_pool.balance_type(),`
`540`	`540`	`)`
`541`	`541`	`.unwrap();`
`542`		`- assert_eq!(pnl_pool_token_amount, 665678880);`
	`542`	`+ assert_eq!(pnl_pool_token_amount, 2332345547);`
`543`	`543`	`assert_eq!(amm_fee_pool_token_amount, 0);`
`544`	`544`	`}`
`545`	`545`