Freeze settings v2

programs/marginfi/fuzz/src/lib.rs

@@ -299,6 +299,7 @@ impl<'state> MarginfiFuzzContext<'state> {
                     } else {
                         marginfi::state::marginfi_group::RiskTier::Isolated
                     },
+                    oracle_max_age: 100,
                     ..Default::default()
                 },
             )

programs/marginfi/src/constants.rs

@@ -45,6 +45,9 @@ pub const INIT_BANK_ORIGINATION_FEE_DEFAULT: u32 = 10000;
 
 pub const SECONDS_PER_YEAR: I80F48 = I80F48!(31_536_000);
 
+/// Due to real-world constraints, oracles using an age less than this value are typically too
+/// unreliable, and we want to restrict pools from picking an oracle that is effectively unusable
+pub const ORACLE_MIN_AGE: u16 = 30;
 pub const MAX_PYTH_ORACLE_AGE: u64 = 60;
 pub const MAX_SWB_ORACLE_AGE: u64 = 3 * 60;
 

programs/marginfi/src/errors.rs

@@ -98,8 +98,6 @@ pub enum MarginfiError {
     T22MintRequired,
     #[msg("Invalid ATA for global fee account")] // 6048
     InvalidFeeAta,
-    #[msg("Bank settings are frozen and cannot be updated")] // 6049
-    BankSettingsFrozen,
 }
 
 impl From<MarginfiError> for ProgramError {

programs/marginfi/src/events.rs

@@ -45,6 +45,15 @@ pub struct LendingPoolBankConfigureEvent {
     pub config: BankConfigOpt,
 }
 
+#[event]
+pub struct LendingPoolBankConfigureFrozenEvent {
+    pub header: GroupEventHeader,
+    pub bank: Pubkey,
+    pub mint: Pubkey,
+    pub deposit_limit: u64,
+    pub borrow_limit: u64,
+}
+
 #[event]
 pub struct LendingPoolBankAccrueInterestEvent {
     pub header: GroupEventHeader,

programs/marginfi/src/instructions/marginfi_group/add_pool.rs

@@ -44,7 +44,7 @@ pub fn lending_pool_add_bank(
     let mut bank = bank_loader.load_init()?;
 
     let liquidity_vault_bump = ctx.bumps.liquidity_vault;
-    let liquidity_vault_authority_bump = ctx.bumps.liquidity_vault_authority;
+    let liquidity_vault_authority_bump: u8 = ctx.bumps.liquidity_vault_authority;
     let insurance_vault_bump = ctx.bumps.insurance_vault;
     let insurance_vault_authority_bump = ctx.bumps.insurance_vault_authority;
     let fee_vault_bump = ctx.bumps.fee_vault;

programs/marginfi/src/instructions/marginfi_group/configure_bank.rs

@@ -1,5 +1,7 @@
 use crate::constants::{EMISSIONS_AUTH_SEED, EMISSIONS_TOKEN_ACCOUNT_SEED, FREEZE_SETTINGS};
-use crate::events::{GroupEventHeader, LendingPoolBankConfigureEvent};
+use crate::events::{
+    GroupEventHeader, LendingPoolBankConfigureEvent, LendingPoolBankConfigureFrozenEvent,
+};
 use crate::prelude::MarginfiError;
 use crate::{check, math_error, utils};
 use crate::{
@@ -17,27 +19,39 @@ pub fn lending_pool_configure_bank(
 ) -> MarginfiResult {
     let mut bank = ctx.accounts.bank.load_mut()?;
 
-    check!(
-        !bank.get_flag(FREEZE_SETTINGS),
-        MarginfiError::BankSettingsFrozen
-    );
-
-    bank.configure(&bank_config)?;
+    // If settings are frozen, you can only update the deposit and borrow limits, everything else is ignored.
+    if bank.get_flag(FREEZE_SETTINGS) {
+        bank.configure_unfrozen_fields_only(&bank_config)?;
 
-    if bank_config.oracle.is_some() {
-        bank.config.validate_oracle_setup(ctx.remaining_accounts)?;
+        emit!(LendingPoolBankConfigureFrozenEvent {
+            header: GroupEventHeader {
+                marginfi_group: ctx.accounts.marginfi_group.key(),
+                signer: Some(*ctx.accounts.admin.key)
+            },
+            bank: ctx.accounts.bank.key(),
+            mint: bank.mint,
+            deposit_limit: bank.config.deposit_limit,
+            borrow_limit: bank.config.borrow_limit,
+        });
+    } else {
+        // Settings are not frozen, everything updates
+        bank.configure(&bank_config)?;
+
+        if bank_config.oracle.is_some() {
+            bank.config.validate_oracle_setup(ctx.remaining_accounts)?;
+        }
+
+        emit!(LendingPoolBankConfigureEvent {
+            header: GroupEventHeader {
+                marginfi_group: ctx.accounts.marginfi_group.key(),
+                signer: Some(*ctx.accounts.admin.key)
+            },
+            bank: ctx.accounts.bank.key(),
+            mint: bank.mint,
+            config: bank_config,
+        });
     }
 
-    emit!(LendingPoolBankConfigureEvent {
-        header: GroupEventHeader {
-            marginfi_group: ctx.accounts.marginfi_group.key(),
-            signer: Some(*ctx.accounts.admin.key)
-        },
-        bank: ctx.accounts.bank.key(),
-        mint: bank.mint,
-        config: bank_config,
-    });
-
     Ok(())
 }
 

programs/marginfi/src/state/marginfi_group.rs

@@ -10,7 +10,7 @@ use crate::{
         EMISSION_FLAGS, FEE_VAULT_AUTHORITY_SEED, FEE_VAULT_SEED, GROUP_FLAGS,
         INSURANCE_VAULT_AUTHORITY_SEED, INSURANCE_VAULT_SEED, LIQUIDITY_VAULT_AUTHORITY_SEED,
         LIQUIDITY_VAULT_SEED, MAX_ORACLE_KEYS, MAX_PYTH_ORACLE_AGE, MAX_SWB_ORACLE_AGE,
-        PERMISSIONLESS_BAD_DEBT_SETTLEMENT_FLAG, PYTH_ID, SECONDS_PER_YEAR,
+        ORACLE_MIN_AGE, PERMISSIONLESS_BAD_DEBT_SETTLEMENT_FLAG, PYTH_ID, SECONDS_PER_YEAR,
         TOTAL_ASSET_VALUE_INIT_LIMIT_INACTIVE,
     },
     debug, math_error,
@@ -722,6 +722,14 @@ impl Bank {
         Ok(())
     }
 
+    /// Configures just the borrow and deposit limits, ignoring all other values
+    pub fn configure_unfrozen_fields_only(&mut self, config: &BankConfigOpt) -> MarginfiResult {
+        set_if_some!(self.config.deposit_limit, config.deposit_limit);
+        set_if_some!(self.config.borrow_limit, config.borrow_limit);
+        // weights didn't change so no validation is needed
+        Ok(())
+    }
+
     /// Calculate the interest rate accrual state changes for a given time period
     ///
     /// Collected protocol and insurance fees are stored in state.
@@ -1414,6 +1422,10 @@ impl BankConfig {
     }
 
     pub fn validate_oracle_setup(&self, ais: &[AccountInfo]) -> MarginfiResult {
+        check!(
+            self.oracle_max_age >= ORACLE_MIN_AGE,
+            MarginfiError::InvalidOracleSetup
+        );
         OraclePriceFeedAdapter::validate_bank_config(self, ais)?;
         Ok(())
     }

test-utils/src/test.rs

@@ -305,6 +305,7 @@ lazy_static! {
             protocol_origination_fee: I80F48!(0).into(),
             ..Default::default()
         },
+        oracle_max_age: 100,
         ..Default::default()
     };
     pub static ref DEFAULT_USDC_TEST_BANK_CONFIG: BankConfig = BankConfig {

tests/04_configureBank.spec.ts

@@ -1,5 +1,5 @@
 import { BN, Program, workspace } from "@coral-xyz/anchor";
-import { Transaction } from "@solana/web3.js";
+import { PublicKey, Transaction } from "@solana/web3.js";
 import { configureBank } from "./utils/instructions";
 import { Marginfi } from "../target/types/marginfi";
 import { bankKeypairUsdc, groupAdmin, marginfiGroup } from "./rootHooks";
@@ -117,28 +117,36 @@ describe("Lending pool configure bank", () => {
     );
     const bank = await program.account.bank.fetch(bankKeypairUsdc.publicKey);
     assertBNEqual(bank.flags, FREEZE_SETTINGS);
+  });
+
+  it("(admin) Update settings after a freeze - only deposit/borrow caps update", async () => {
+    let configNew = defaultBankConfigOptRaw();
+    const newDepositLimit = new BN(2_000_000_000);
+    const newBorrowLimit = new BN(3_000_000_000);
+    configNew.depositLimit = newDepositLimit;
+    configNew.borrowLimit = newBorrowLimit;
+
+    // These will be ignored...
+    configNew.oracleMaxAge = 42;
+    configNew.freezeSettings = false;
+
+    await groupAdmin.mrgnProgram!.provider.sendAndConfirm!(
+      new Transaction().add(
+        await configureBank(program, {
+          marginfiGroup: marginfiGroup.publicKey,
+          admin: groupAdmin.wallet.publicKey,
+          bank: bankKeypairUsdc.publicKey,
+          bankConfigOpt: configNew,
+        })
+      )
+    );
+    const bank = await program.account.bank.fetch(bankKeypairUsdc.publicKey);
+    const config = bank.config;
+    assertBNEqual(config.depositLimit, newDepositLimit);
+    assertBNEqual(config.borrowLimit, newBorrowLimit);
 
-    // Attempting to config again should fail...
-    let failed = false;
-    try {
-      await groupAdmin.mrgnProgram!.provider.sendAndConfirm!(
-        new Transaction().add(
-          await configureBank(program, {
-            marginfiGroup: marginfiGroup.publicKey,
-            admin: groupAdmin.wallet.publicKey,
-            bank: bankKeypairUsdc.publicKey,
-            bankConfigOpt: defaultBankConfigOptRaw(),
-          })
-        )
-      );
-    } catch (err) {
-      assert.ok(
-        err.logs.some((log: string) =>
-          log.includes("Error Code: BankSettingsFrozen")
-        )
-      );
-      failed = true;
-    }
-    assert.ok(failed, "Transaction succeeded when it should have failed");
+    // Ignored fields didn't change..
+    assert.equal(config.oracleMaxAge, 100);
+    assertBNEqual(bank.flags, FREEZE_SETTINGS); // still frozen
   });
 });