program: add-recenter-amm-crank-instruction

Author: 0xbigz

programs/drift/src/controller/amm.rs

@@ -839,7 +839,7 @@ pub fn recenter_perp_market_amm(
     )?;
 
     market.amm.sqrt_k = sqrt_k;
-    // todo: could calcualte terminal state cost for altering sqrt_k
+    // todo: ensure correct terminal state cost for altering sqrt_k
 
     market.amm.peg_multiplier = peg_multiplier;
 

programs/drift/src/instructions/admin.rs

@@ -1,6 +1,7 @@
 use std::convert::identity;
 use std::mem::size_of;
 
+use crate::math::amm::calculate_amm_available_liquidity;
 use crate::msg;
 use anchor_lang::prelude::*;
 use anchor_spl::token::Token;
@@ -18,6 +19,7 @@ use crate::instructions::constraints::*;
 use crate::instructions::optional_accounts::{load_maps, AccountMaps};
 use crate::math::casting::Cast;
 use crate::math::constants::{
+    AMM_TIMES_PEG_TO_QUOTE_PRECISION_RATIO, AMM_TIMES_PEG_TO_QUOTE_PRECISION_RATIO_I128,
     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,
@@ -26,6 +28,7 @@ use crate::math::constants::{
     SPOT_WEIGHT_PRECISION, THIRTEEN_DAY, TWENTY_FOUR_HOUR,
 };
 use crate::math::cp_curve::get_update_k_result;
+use crate::math::helpers::get_proportion_u128;
 use crate::math::orders::is_multiple_of_step_size;
 use crate::math::repeg::get_total_fee_lower_bound;
 use crate::math::safe_math::SafeMath;
@@ -1574,6 +1577,102 @@ pub fn handle_recenter_perp_market_amm(
     Ok(())
 }
 
+#[access_control(
+    perp_market_valid(&ctx.accounts.perp_market)
+)]
+pub fn handle_recenter_perp_market_amm_crank(
+    ctx: Context<AdminUpdatePerpMarketAmmSummaryStats>,
+    depth: Option<u128>,
+) -> Result<()> {
+    let perp_market = &mut load_mut!(ctx.accounts.perp_market)?;
+    let spot_market = &mut load!(ctx.accounts.spot_market)?;
+
+    let clock = Clock::get()?;
+    let price_oracle = &ctx.accounts.oracle;
+
+    let OraclePriceData {
+        price: oracle_price,
+        ..
+    } = get_oracle_price(&perp_market.amm.oracle_source, price_oracle, clock.slot)?;
+
+    msg!(
+        "recentering amm crank for perp market {}",
+        perp_market.market_index
+    );
+
+    let base_asset_reserve_before = perp_market.amm.base_asset_reserve;
+    let quote_asset_reserve_before = perp_market.amm.quote_asset_reserve;
+    let sqrt_k_before = perp_market.amm.sqrt_k;
+    let peg_multiplier_before = perp_market.amm.peg_multiplier;
+    let max_base_asset_reserve_before = perp_market.amm.max_base_asset_reserve;
+    let min_base_asset_reserve_before = perp_market.amm.min_base_asset_reserve;
+
+    let mut sqrt_k = sqrt_k_before;
+    let peg_multiplier: u128 = oracle_price.cast()?;
+    let (max_bids_before, max_asks_before) =
+        amm::calculate_market_open_bids_asks(&perp_market.amm)?;
+
+    if let Some(depth) = depth {
+        let base_depth = max_bids_before
+            .safe_add(max_asks_before.abs())?
+            .safe_div(2)?
+            .unsigned_abs();
+        let quote_depth = base_depth
+            .safe_mul(peg_multiplier)?
+            .safe_div(AMM_TIMES_PEG_TO_QUOTE_PRECISION_RATIO)?;
+        sqrt_k = get_proportion_u128(sqrt_k, depth, quote_depth)?;
+    }
+
+    controller::amm::recenter_perp_market_amm(perp_market, peg_multiplier, sqrt_k)?;
+    validate_perp_market(perp_market)?;
+
+    let base_asset_reserve_after = perp_market.amm.base_asset_reserve;
+    let quote_asset_reserve_after = perp_market.amm.quote_asset_reserve;
+    let sqrt_k_after = perp_market.amm.sqrt_k;
+    let peg_multiplier_after = perp_market.amm.peg_multiplier;
+    let max_base_asset_reserve_after = perp_market.amm.max_base_asset_reserve;
+    let min_base_asset_reserve_after = perp_market.amm.min_base_asset_reserve;
+
+    msg!(
+        "base_asset_reserve {} -> {}",
+        base_asset_reserve_before,
+        base_asset_reserve_after
+    );
+
+    msg!(
+        "quote_asset_reserve {} -> {}",
+        quote_asset_reserve_before,
+        quote_asset_reserve_after
+    );
+
+    msg!("sqrt_k {} -> {}", sqrt_k_before, sqrt_k_after);
+
+    msg!(
+        "peg_multiplier {} -> {}",
+        peg_multiplier_before,
+        peg_multiplier_after
+    );
+
+    msg!(
+        "max_base_asset_reserve {} -> {}",
+        max_base_asset_reserve_before,
+        max_base_asset_reserve_after
+    );
+
+    msg!(
+        "min_base_asset_reserve {} -> {}",
+        min_base_asset_reserve_before,
+        min_base_asset_reserve_after
+    );
+
+    let (max_bids_after, max_asks_after) = amm::calculate_market_open_bids_asks(&perp_market.amm)?;
+
+    msg!("max_bids {} -> {}", max_bids_before, max_bids_after);
+
+    msg!("max_asks {} -> {}", max_asks_before, max_asks_after);
+    Ok(())
+}
+
 #[derive(Debug, Clone, Copy, AnchorSerialize, AnchorDeserialize, PartialEq, Eq)]
 pub struct UpdatePerpMarketSummaryStatsParams {
     // new aggregate unsettled user stats

programs/drift/src/lib.rs

@@ -1025,6 +1025,13 @@ pub mod drift {
         handle_recenter_perp_market_amm(ctx, peg_multiplier, sqrt_k)
     }
 
+    pub fn recenter_perp_market_amm_crank(
+        ctx: Context<AdminUpdatePerpMarketAmmSummaryStats>,
+        depth: Option<u128>,
+    ) -> Result<()> {
+        handle_recenter_perp_market_amm_crank(ctx, depth)
+    }
+
     pub fn update_perp_market_amm_summary_stats(
         ctx: Context<AdminUpdatePerpMarketAmmSummaryStats>,
         params: UpdatePerpMarketSummaryStatsParams,

sdk/src/adminClient.ts

@@ -789,6 +789,45 @@ export class AdminClient extends DriftClient {
 		);
 	}
 
+	public async recenterPerpMarketAmmCrank(
+		perpMarketIndex: number,
+		depth?: BN
+	): Promise<TransactionSignature> {
+		const recenterPerpMarketAmmIx = await this.getRecenterPerpMarketAmmCrankIx(
+			perpMarketIndex,
+			depth
+		);
+
+		const tx = await this.buildTransaction(recenterPerpMarketAmmIx);
+
+		const { txSig } = await this.sendTransaction(tx, [], this.opts);
+
+		return txSig;
+	}
+
+	public async getRecenterPerpMarketAmmCrankIx(
+		perpMarketIndex: number,
+		depth: BN
+	): Promise<TransactionInstruction> {
+		const marketPublicKey = await getPerpMarketPublicKey(
+			this.program.programId,
+			perpMarketIndex
+		);
+
+		return await this.program.instruction.recenterPerpMarketAmmCrank(
+			depth ?? null,
+			{
+				accounts: {
+					state: await this.getStatePublicKey(),
+					admin: this.useHotWalletAdmin
+						? this.wallet.publicKey
+						: this.getStateAccount().admin,
+					perpMarket: marketPublicKey,
+				},
+			}
+		);
+	}
+
 	public async updatePerpMarketConcentrationScale(
 		perpMarketIndex: number,
 		concentrationScale: BN

sdk/src/idl/drift.json

@@ -4646,6 +4646,44 @@
         }
       ]
     },
+    {
+      "name": "recenterPerpMarketAmmCrank",
+      "accounts": [
+        {
+          "name": "admin",
+          "isMut": false,
+          "isSigner": true
+        },
+        {
+          "name": "state",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "perpMarket",
+          "isMut": true,
+          "isSigner": false
+        },
+        {
+          "name": "spotMarket",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "oracle",
+          "isMut": false,
+          "isSigner": false
+        }
+      ],
+      "args": [
+        {
+          "name": "depth",
+          "type": {
+            "option": "u128"
+          }
+        }
+      ]
+    },
     {
       "name": "updatePerpMarketAmmSummaryStats",
       "accounts": [