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The GlobalConfig account stores protocol-wide configuration settings that apply across all lending markets. It manages administrative authorities and fee collection.

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GlobalConfig

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global_admin
Pubkey
Current global administrator authority with full control over protocol configuration
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pending_admin
Pubkey
Pending administrator that can be promoted to global admin through a two-step process
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fee_collector
Pubkey
Account authorized to collect accumulated protocol fees across all markets

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Admin Update Process

The GlobalConfig uses a two-step admin update process for security:
  1. Propose: Current admin sets pending_admin to the new authority
  2. Accept: The pending admin calls apply_pending_admin() to become the active admin
This prevents accidental loss of admin access.

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Update Modes

Configuration updates are performed through the UpdateGlobalConfigMode enum:
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UpdateGlobalConfigMode
enum

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Initialization

When initialized, all three fields (global_admin, pending_admin, fee_collector) are set to the same initial admin authority.

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Account Size

The GlobalConfig account has a fixed size of 1000 bytes (GLOBAL_CONFIG_SIZE), including padding for future expansion.

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Usage Example

Typical admin rotation flow: 
// Step 1: Current admin proposes new admin
await program.methods
  .updateGlobalConfig(
    { pendingAdmin: {} },
    newAdminPubkey.toBuffer()
  )
  .accounts({ globalConfig, admin: currentAdmin })
  .rpc();

// Step 2: New admin accepts
await program.methods
  .applyPendingAdmin()
  .accounts({ globalConfig, pendingAdmin: newAdmin })
  .rpc();

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Security Considerations

  • The global admin has protocol-wide privileges and should be secured with a multisig or governance mechanism
  • The pending admin pattern prevents accidental admin lockout
  • Fee collector can be set to a separate account for operational security
  • LendingMarket: Each market has its own lending_market_owner separate from global admin
  • Reserve: Fee collector can claim accumulated fees from reserves across all markets

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