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merged 2 commits into from
Jul 9, 2025
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Nour/settle testing #1725

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2f502c9
refactor settle pnl to modularize and add tests
moosecat2 Jul 9, 2025
5683096
more cargo tests
moosecat2 Jul 9, 2025
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275 changes: 90 additions & 185 deletions programs/drift/src/instructions/keeper.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -30,6 +30,7 @@ use crate::math::casting::Cast;
use crate::math::constants::QUOTE_PRECISION;
use crate::math::constants::QUOTE_SPOT_MARKET_INDEX;
use crate::math::constants::SPOT_BALANCE_PRECISION;
use crate::math::lp_pool::perp_lp_pool_settlement;
use crate::math::margin::{calculate_user_equity, meets_settle_pnl_maintenance_margin_requirement};
use crate::math::orders::{estimate_price_from_side, find_bids_and_asks_from_users};
use crate::math::position::calculate_base_asset_value_and_pnl_with_oracle_price;
Expand Down Expand Up @@ -2944,12 +2945,17 @@ pub fn handle_pause_spot_market_deposit_withdraw(
Ok(())
}

// Refactored main function
pub fn handle_settle_perp_to_lp_pool<'c: 'info, 'info>(
ctx: Context<'_, '_, 'c, 'info, SettleAmmPnlToLp<'info>>,
) -> Result<()> {
let slot = Clock::get()?.slot;
use perp_lp_pool_settlement::*;

let slot = Clock::get()?.slot;
let timestamp = Clock::get()?.unix_timestamp;
let state = &ctx.accounts.state;

// Validation and setup code (unchanged)
let amm_cache_key = &ctx.accounts.amm_cache.key();
let mut amm_cache: AccountZeroCopyMut<'_, CacheInfo, _> =
ctx.accounts.amm_cache.load_zc_mut()?;
Expand All @@ -2958,8 +2964,7 @@ pub fn handle_settle_perp_to_lp_pool<'c: 'info, 'info>(
let constituent_token_account = &mut ctx.accounts.constituent_quote_token_account;
let mut lp_pool = ctx.accounts.lp_pool.load_mut()?;

let clock = Clock::get()?;

// PDA validation (unchanged)
let expected_pda = &Pubkey::create_program_address(
&[
AMM_POSITIONS_CACHE.as_ref(),
Expand Down Expand Up @@ -2987,12 +2992,19 @@ pub fn handle_settle_perp_to_lp_pool<'c: 'info, 'info>(
None,
)?;

let precision_increase = SPOT_BALANCE_PRECISION.safe_div(QUOTE_PRECISION)?;
let mint = Some(*ctx.accounts.mint.clone());

for (_, perp_market_loader) in perp_market_map.0.iter() {
let mut perp_market = perp_market_loader.load_mut()?;
if perp_market.lp_status == 0 {
continue;
}

let cached_info = amm_cache.get_mut(perp_market.market_index as u32);

// Early validation checks (unchanged)
if slot.saturating_sub(cached_info.oracle_slot) > SETTLE_AMM_ORACLE_MAX_DELAY {
// If the oracle slot is not up to date, skip this market
msg!(
"Skipping settling perp market {} to dlp because oracle slot is not up to date",
perp_market.market_index
Expand All @@ -3001,6 +3013,7 @@ pub fn handle_settle_perp_to_lp_pool<'c: 'info, 'info>(
}

validate_market_within_price_band(&perp_market, state, cached_info.oracle_price)?;

if perp_market.is_operation_paused(PerpOperation::SettlePnl) {
msg!(
"Cannot settle pnl under current market = {} status",
Expand All @@ -3011,207 +3024,99 @@ pub fn handle_settle_perp_to_lp_pool<'c: 'info, 'info>(

if cached_info.slot != slot {
msg!("Skipping settling perp market {} to lp pool because amm cache was not updated in the same slot",
perp_market.market_index
);
perp_market.market_index);
return Err(ErrorCode::AMMCacheStale.into());
}

let mint = *ctx.accounts.mint.clone();
// Transfer balance if it's available
if cached_info.quote_owed_from_lp > 0 {
if quote_constituent.token_balance == 0 {
msg!("LP Pool has no usdc to settle",);
continue;
}
let amount_to_send =
if cached_info.quote_owed_from_lp > quote_constituent.token_balance as i64 {
quote_constituent.token_balance
} else {
cached_info.quote_owed_from_lp as u64
};

cached_info.quote_owed_from_lp = cached_info
.quote_owed_from_lp
.safe_sub(amount_to_send as i64)?;

controller::token::send_from_program_vault(
&ctx.accounts.token_program,
constituent_token_account,
&ctx.accounts.quote_token_vault,
&ctx.accounts.drift_signer,
state.signer_nonce,
amount_to_send,
&Some(mint),
)?;

// Send all revenues to the perp market fee pool
let precision_increase = SPOT_BALANCE_PRECISION.safe_div(QUOTE_PRECISION)?;
perp_market
.amm
.fee_pool
.increase_balance((amount_to_send as u128).safe_mul(precision_increase)?)?;

// Update LP Pool Stats
lp_pool.cumulative_usdc_sent_to_perp_markets = lp_pool
.cumulative_usdc_sent_to_perp_markets
.saturating_add(amount_to_send.cast::<u128>()?);

// Decrement cached fee pool token amount
cached_info.last_fee_pool_token_amount = cached_info
.last_fee_pool_token_amount
.safe_add(amount_to_send as u128)?;

// Sync the constituent token account balance
constituent_token_account.reload()?;
quote_constituent.sync_token_balance(constituent_token_account.amount);

// Update the last settle info
cached_info.last_settle_amount = amount_to_send.cast::<u64>()?;
cached_info.last_settle_ts = Clock::get()?.unix_timestamp;

// Update LP Pool Stats
lp_pool.cumulative_usdc_sent_to_perp_markets = lp_pool
.cumulative_usdc_sent_to_perp_markets
.saturating_add(amount_to_send.cast::<u128>()?);
} else if cached_info.quote_owed_from_lp < 0 {
// We now send from the perp market to dlp and wipe out the amount owed from the perp market
let amount_to_send = cached_info.quote_owed_from_lp.abs() as u64;

// Take from the fee pool if it can cover the whole balance, otherwise also take from pnl pool
let precision_increase = SPOT_BALANCE_PRECISION.safe_div(QUOTE_PRECISION)?;
let fee_pool_token_amount = get_token_amount(
// Create settlement context
let settlement_ctx = SettlementContext {
quote_owed_from_lp: cached_info.quote_owed_from_lp_pool,
quote_constituent_token_balance: quote_constituent.token_balance,
fee_pool_balance: get_token_amount(
perp_market.amm.fee_pool.scaled_balance,
&quote_market,
quote_market,
&SpotBalanceType::Deposit,
)?;
if fee_pool_token_amount > amount_to_send as u128 {
perp_market
.amm
.fee_pool
.decrease_balance((amount_to_send as u128).safe_mul(precision_increase)?)?;
cached_info.last_fee_pool_token_amount = cached_info
.last_fee_pool_token_amount
.safe_sub(amount_to_send as u128)?;
cached_info.quote_owed_from_lp = 0;

controller::token::send_from_program_vault(
)?,
pnl_pool_balance: get_token_amount(
perp_market.pnl_pool.scaled_balance,
quote_market,
&SpotBalanceType::Deposit,
)?,
quote_market,
};

// Calculate settlement
let settlement_result = calculate_settlement_amount(&settlement_ctx)?;

if settlement_result.direction == SettlementDirection::None {
continue;
}

// Execute token transfer
match settlement_result.direction {
SettlementDirection::FromLpPool => {
execute_token_transfer(
&ctx.accounts.token_program,
constituent_token_account,
&ctx.accounts.quote_token_vault,
&ctx.accounts.drift_signer,
state.signer_nonce,
settlement_result.amount_transferred,
&mint,
)?;
}
SettlementDirection::ToLpPool => {
execute_token_transfer(
&ctx.accounts.token_program,
&ctx.accounts.quote_token_vault,
constituent_token_account,
&ctx.accounts.drift_signer,
state.signer_nonce,
amount_to_send.cast::<u64>()?,
&Some(mint),
settlement_result.amount_transferred,
&mint,
)?;
}
SettlementDirection::None => unreachable!(),
}

// Sync the constituent token account balance
constituent_token_account.reload()?;
quote_constituent.sync_token_balance(constituent_token_account.amount);
// Update market pools
update_perp_market_pools(&mut perp_market, &settlement_result, precision_increase)?;

// Calculate new quote owed amount
let new_quote_owed = match settlement_result.direction {
SettlementDirection::FromLpPool => cached_info
.quote_owed_from_lp_pool
.safe_sub(settlement_result.amount_transferred as i64)?,
SettlementDirection::ToLpPool => cached_info
.quote_owed_from_lp_pool
.safe_add(settlement_result.amount_transferred as i64)?,
SettlementDirection::None => cached_info.quote_owed_from_lp_pool,
};

// Update the last settle info
cached_info.last_settle_amount = amount_to_send.cast::<u64>()?;
cached_info.last_settle_ts = Clock::get()?.unix_timestamp;
// Update cache info
update_cache_info(cached_info, &settlement_result, new_quote_owed, timestamp)?;

// Update LP Pool Stats
// Update LP pool stats
match settlement_result.direction {
SettlementDirection::FromLpPool => {
lp_pool.cumulative_usdc_sent_to_perp_markets = lp_pool
.cumulative_usdc_sent_to_perp_markets
.saturating_add(settlement_result.amount_transferred as u128);
}
SettlementDirection::ToLpPool => {
lp_pool.cumulative_usdc_received_from_perp_markets = lp_pool
.cumulative_usdc_received_from_perp_markets
.saturating_add(amount_to_send.cast::<u128>()?);
} else {
// If the fee pool cannot cover the whole amount, we take the rest from the pnl pool and set the
// fee pool balances to 0

let remaining_amount_to_send =
(amount_to_send as u128).safe_sub(fee_pool_token_amount)?;

perp_market
.amm
.fee_pool
.decrease_balance(fee_pool_token_amount.safe_mul(precision_increase)?)?;
cached_info.last_fee_pool_token_amount = 0;
cached_info.quote_owed_from_lp += fee_pool_token_amount.cast::<i64>()?;

// Similarly, can the pnl pool cover the rest?
let pnl_pool_token_amount = get_token_amount(
perp_market.pnl_pool.scaled_balance,
&quote_market,
&SpotBalanceType::Deposit,
)?;
if remaining_amount_to_send > pnl_pool_token_amount {
let transfer_amount = if pnl_pool_token_amount == 0 {
fee_pool_token_amount
} else {
perp_market.pnl_pool.decrease_balance(
pnl_pool_token_amount.safe_mul(precision_increase)?,
)?;
cached_info.last_net_pnl_pool_token_amount = cached_info
.last_net_pnl_pool_token_amount
.safe_sub(pnl_pool_token_amount.cast::<i128>()?)?;
cached_info.quote_owed_from_lp += pnl_pool_token_amount.cast::<i64>()?;

fee_pool_token_amount.safe_add(pnl_pool_token_amount)?
};

controller::token::send_from_program_vault(
&ctx.accounts.token_program,
&ctx.accounts.quote_token_vault,
constituent_token_account,
&ctx.accounts.drift_signer,
state.signer_nonce,
transfer_amount.cast::<u64>()?,
&Some(mint),
)?;

// Sync the constituent token account balance
constituent_token_account.reload()?;
quote_constituent.sync_token_balance(constituent_token_account.amount);

// Update the last settle info
cached_info.last_settle_amount = transfer_amount.cast::<u64>()?;
cached_info.last_settle_ts = Clock::get()?.unix_timestamp;

// Update LP Pool Stats
lp_pool.cumulative_usdc_received_from_perp_markets = lp_pool
.cumulative_usdc_received_from_perp_markets
.saturating_add(transfer_amount.cast::<u128>()?);
} else {
perp_market
.pnl_pool
.decrease_balance(remaining_amount_to_send.safe_mul(precision_increase)?)?;
cached_info
.last_net_pnl_pool_token_amount
.safe_sub(remaining_amount_to_send.cast::<i128>()?)?;
cached_info.quote_owed_from_lp += remaining_amount_to_send.cast::<i64>()?;

controller::token::send_from_program_vault(
&ctx.accounts.token_program,
&ctx.accounts.quote_token_vault,
constituent_token_account,
&ctx.accounts.drift_signer,
state.signer_nonce,
amount_to_send.cast::<u64>()?,
&Some(mint),
)?;

// Sync the constituent token account balance
constituent_token_account.reload()?;
quote_constituent.sync_token_balance(constituent_token_account.amount);

// Update the last settle info
cached_info.last_settle_amount = amount_to_send.cast::<u64>()?;
cached_info.last_settle_ts = Clock::get()?.unix_timestamp;

// Update LP Pool Stats
lp_pool.cumulative_usdc_received_from_perp_markets = lp_pool
.cumulative_usdc_received_from_perp_markets
.saturating_add(amount_to_send.cast::<u128>()?);
}
.saturating_add(settlement_result.amount_transferred as u128);
}
} else {
// nothing owed to settle
continue;
SettlementDirection::None => {}
}

// Sync constituent token balance
constituent_token_account.reload()?;
quote_constituent.sync_token_balance(constituent_token_account.amount);
}

// Final validation
math::spot_withdraw::validate_spot_market_vault_amount(
quote_market,
ctx.accounts.quote_token_vault.amount,
Expand Down
2 changes: 1 addition & 1 deletion programs/drift/src/instructions/lp_pool.rs
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Open in desktop
Original file line number Diff line number Diff line change
Expand Up @@ -325,7 +325,7 @@ pub fn handle_update_lp_pool_aum<'c: 'info, 'info>(

let mut aum_i128 = aum.cast::<i128>()?;
for cache_datum in amm_cache.iter() {
aum_i128 -= cache_datum.quote_owed_from_lp as i128;
aum_i128 -= cache_datum.quote_owed_from_lp_pool as i128;
}
aum = aum_i128.max(0i128).cast::<u128>()?;

Expand Down
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