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init_lending_market

Initialize a new lending market. This creates the base lending market account that will contain all reserves.

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Signature

pub fn init_lending_market(
    ctx: Context<InitLendingMarket>,
    quote_currency: [u8; 32]
) -> Result<()>

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Parameters

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quote_currency
[u8; 32]
required
The quote currency identifier (typically USD). Used for price normalization across reserves.

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Accounts

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lending_market_owner
Signer
required
The owner of the lending market. This account will have administrative privileges.
  • Must be mutable (pays for initialization)
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lending_market
AccountLoader<LendingMarket>
required
The lending market account to initialize.
  • Must be a zero-initialized account
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lending_market_authority
AccountInfo
required
PDA authority for the lending market.
  • Seeds: ["lending_market_auth", lending_market.key()]
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system_program
Program<System>
required
The Solana system program.
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rent
Sysvar<Rent>
required
The Solana rent sysvar.

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Returns

Returns Ok(()) on success.

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Errors

  • Standard Anchor errors if account validation fails

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update_lending_market

Update configuration parameters of a lending market. Only the market owner or emergency council can call this.

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Signature

pub fn update_lending_market(
    ctx: Context<UpdateLendingMarket>,
    mode: u64,
    value: [u8; VALUE_BYTE_MAX_ARRAY_LEN_MARKET_UPDATE]
) -> Result<()>

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Parameters

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mode
u64
required
The update mode specifying which field to update. Valid modes:
  • UpdateOwner: Update the owner
  • UpdateEmergencyMode: Enable/disable emergency mode (u8 bool)
  • UpdateLiquidationCloseFactor: Set liquidation close factor (5-100)
  • UpdateLiquidationMaxValue: Set max liquidatable debt value
  • UpdateGlobalAllowedBorrow: Set global borrow limit
  • UpdateMinFullLiquidationThreshold: Set minimum full liquidation threshold
  • UpdateEmergencyCouncil: Set emergency council address
  • UpdateInsolvencyRiskLtv: Set insolvency risk LTV (5-100)
  • UpdateElevationGroup: Configure elevation group
  • UpdateReferralFeeBps: Set referral fee in basis points
  • UpdatePriceRefreshTriggerToMaxAgePct: Set price refresh trigger percentage
  • UpdateAutodeleverageEnabled: Enable/disable auto-deleveraging
  • UpdateBorrowingDisabled: Disable/enable borrowing globally
  • UpdateMinNetValueObligationPostAction: Set minimum net value threshold
  • And many more configuration options
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value
[u8; VALUE_BYTE_MAX_ARRAY_LEN_MARKET_UPDATE]
required
The new value for the specified field, encoded as bytes.

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Accounts

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signer
Signer
required
Must be either:
  • The lending market owner (for all updates)
  • The emergency council (only for enabling emergency mode)
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lending_market
AccountLoader<LendingMarket>
required
The lending market to update.
  • Must be mutable

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Returns

Returns Ok(()) on success.

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Errors

  • InvalidSigner: Signer is not authorized to perform this update
  • OperationNotPermittedMarketImmutable: Market is marked as immutable
  • InvalidConfig: Configuration value is invalid for the specified mode
  • InvalidElevationGroupConfig: Elevation group configuration is invalid

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update_lending_market_owner

Transfer ownership of a lending market to the cached owner. This is a two-step process: first cache the new owner with update_lending_market, then confirm with this instruction.

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Signature

pub fn update_lending_market_owner(
    ctx: Context<UpdateLendingMarketOwner>
) -> Result<()>

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Parameters

None.

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Accounts

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lending_market_owner_cached
Signer
required
The cached new owner who is accepting ownership.
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lending_market
AccountLoader<LendingMarket>
required
The lending market whose ownership is being transferred.
  • Must be mutable
  • Must have lending_market_owner_cached matching the signer

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Returns

Returns Ok(()) on success.

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Errors

  • OperationNotPermittedMarketImmutable: Market is marked as immutable
  • Anchor constraint errors if the cached owner doesn’t match

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