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program: add amm decay for reference price offset #1732

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program: add amm decay for reference price offset #1732

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f48ccde
program: disable-hlm-on-custom-max-leverage-check
0xbigz Jul 8, 2025
872fe86
cleanup
0xbigz Jul 8, 2025
fbc9375
program: add amm-decay-for-reference-price-offset
0xbigz Jul 11, 2025
1f053b0
correct max offset, remove err lines
0xbigz Jul 11, 2025
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8 changes: 7 additions & 1 deletion programs/drift/src/controller/amm.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -257,7 +257,13 @@ pub fn update_spreads(market: &mut PerpMarket, reserve_price: u64) -> DriftResul

market.amm.long_spread = long_spread;
market.amm.short_spread = short_spread;
market.amm.reference_price_offset = reference_price_offset;

if reference_price_offset == 0 && market.amm.reference_price_offset != 0 {
// smooth decay toward 0
market.amm.reference_price_offset = market.amm.reference_price_offset.safe_sub(market.amm.reference_price_offset.safe_div(10)?)?;
} else {
market.amm.reference_price_offset = reference_price_offset;
}

update_spread_reserves(market)?;

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2 changes: 1 addition & 1 deletion programs/drift/src/state/perp_market.rs
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Expand Up @@ -1233,7 +1233,7 @@ impl AMM {
// always allow 1-100 bps of price offset, up to half of the market's max_spread
let lb_bps =
(PERCENTAGE_PRECISION.cast::<i64>()? / 10000).safe_mul(lower_bound_multiplier)?;
let max_offset = (self.max_spread.cast::<i64>()? / 2).max(lb_bps);
let max_offset = (self.max_spread.cast::<i64>()? / 2).min(lb_bps);

Ok(max_offset)
}
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