AdminClient

Administrative functions for managing Drift Protocol v2

AdminClient

The AdminClient class extends DriftClient to provide administrative functions for managing Drift Protocol. It includes methods for initializing markets, updating protocol parameters, and managing market configurations.

The AdminClient requires the connected wallet to be the protocol admin. Most users should use DriftClient instead.

Extends

AdminClient extends DriftClient, inheriting all methods and properties.

Protocol Initialization

initialize

Initializes the Drift Protocol state account.

await adminClient.initialize(
  usdcMint: PublicKey,
  adminControlsPrices: boolean
): Promise<[TransactionSignature]>

usdcMint · PublicKey · required

USDC mint public key

adminControlsPrices · boolean · required

Whether admin controls oracle prices

return · Promise<[TransactionSignature]>

Transaction signature in array format

Perpetual Market Management

initializePerpMarket

Initializes a new perpetual market.

await adminClient.initializePerpMarket(
  marketIndex: number,
  priceOracle: PublicKey,
  baseAssetReserve: BN,
  quoteAssetReserve: BN,
  periodicity: BN,
  pegMultiplier?: BN,
  oracleSource?: OracleSource,
  contractTier?: ContractTier,
  marginRatioInitial?: number,
  marginRatioMaintenance?: number,
  liquidatorFee?: number,
  ifLiquidatorFee?: number,
  imfFactor?: number,
  activeStatus?: boolean,
  baseSpread?: number,
  maxSpread?: number,
  maxOpenInterest?: BN,
  maxRevenueWithdrawPerPeriod?: BN,
  quoteMaxInsurance?: BN,
  orderStepSize?: BN,
  orderTickSize?: BN,
  minOrderSize?: BN,
  concentrationCoefScale?: BN,
  curveUpdateIntensity?: number,
  ammJitIntensity?: number,
  name?: string,
  lpPoolId?: number
): Promise<TransactionSignature>

marketIndex · number · required

Market index for the new perpetual market

priceOracle · PublicKey · required

Oracle account public key

baseAssetReserve · BN · required

Initial base asset reserve for the AMM

quoteAssetReserve · BN · required

Initial quote asset reserve for the AMM

periodicity · BN · required

Funding rate update periodicity

pegMultiplier · BN · default: "PEG_PRECISION"

Peg multiplier for the market

oracleSource · OracleSource · default: "OracleSource.PYTH"

Oracle source type

contractTier · ContractTier · default: "ContractTier.SPECULATIVE"

Contract tier classification

marginRatioInitial · number · default: 2000

Initial margin ratio (in basis points)

marginRatioMaintenance · number · default: 500

Maintenance margin ratio (in basis points)

name · string · default: "DEFAULT_MARKET_NAME"

Market name

return · Promise<TransactionSignature>

Transaction signature

deletePerpMarket

Deletes an initialized but unused perpetual market.

await adminClient.deleteInitializedPerpMarket(
  marketIndex: number
): Promise<TransactionSignature>

marketIndex · number · required

Market index to delete

return · Promise<TransactionSignature>

Transaction signature

updatePerpMarketMarginRatio

Updates margin ratios for a perpetual market.

await adminClient.updatePerpMarketMarginRatio(
  perpMarketIndex: number,
  marginRatioInitial: number,
  marginRatioMaintenance: number
): Promise<TransactionSignature>

perpMarketIndex · number · required

Perpetual market index

marginRatioInitial · number · required

New initial margin ratio

marginRatioMaintenance · number · required

New maintenance margin ratio

return · Promise<TransactionSignature>

Transaction signature

updatePerpMarketBaseSpread

Updates the base spread for a perpetual market.

await adminClient.updatePerpMarketBaseSpread(
  perpMarketIndex: number,
  baseSpread: number
): Promise<TransactionSignature>

perpMarketIndex · number · required

Perpetual market index

baseSpread · number · required

New base spread value

return · Promise<TransactionSignature>

Transaction signature

updatePerpMarketOracle

Updates the oracle for a perpetual market.

await adminClient.updatePerpMarketOracle(
  perpMarketIndex: number,
  oracle: PublicKey,
  oracleSource: OracleSource,
  skipInvaraintCheck?: boolean
): Promise<TransactionSignature>

perpMarketIndex · number · required

Perpetual market index

oracle · PublicKey · required

New oracle account public key

oracleSource · OracleSource · required

Oracle source type

skipInvaraintCheck · boolean · default: false

Skip invariant validation checks

return · Promise<TransactionSignature>

Transaction signature

Spot Market Management

initializeSpotMarket

Initializes a new spot market.

await adminClient.initializeSpotMarket(
  mint: PublicKey,
  optimalUtilization: number,
  optimalRate: number,
  maxRate: number,
  oracle: PublicKey,
  oracleSource: OracleSource,
  initialAssetWeight: number,
  maintenanceAssetWeight: number,
  initialLiabilityWeight: number,
  maintenanceLiabilityWeight: number,
  imfFactor?: number,
  liquidatorFee?: number,
  ifLiquidationFee?: number,
  activeStatus?: boolean,
  assetTier?: AssetTier,
  scaleInitialAssetWeightStart?: BN,
  withdrawGuardThreshold?: BN,
  orderTickSize?: BN,
  orderStepSize?: BN,
  ifTotalFactor?: number,
  name?: string,
  marketIndex?: number
): Promise<TransactionSignature>

mint · PublicKey · required

Token mint public key

optimalUtilization · number · required

Optimal utilization rate for interest

optimalRate · number · required

Interest rate at optimal utilization

maxRate · number · required

Maximum interest rate

oracle · PublicKey · required

Oracle account public key

oracleSource · OracleSource · required

Oracle source type

initialAssetWeight · number · required

Initial asset weight for collateral

maintenanceAssetWeight · number · required

Maintenance asset weight for collateral

initialLiabilityWeight · number · required

Initial liability weight for borrows

maintenanceLiabilityWeight · number · required

Maintenance liability weight for borrows

assetTier · AssetTier · default: "AssetTier.COLLATERAL"

Asset tier classification

name · string · default: "DEFAULT_MARKET_NAME"

Market name

return · Promise<TransactionSignature>

Transaction signature

deleteSpotMarket

Deletes an initialized but unused spot market.

await adminClient.deleteInitializedSpotMarket(
  marketIndex: number
): Promise<TransactionSignature>

marketIndex · number · required

Spot market index to delete

return · Promise<TransactionSignature>

Transaction signature

updateSpotMarketOracle

Updates the oracle for a spot market.

await adminClient.updateSpotMarketOracle(
  spotMarketIndex: number,
  oracle: PublicKey,
  oracleSource: OracleSource
): Promise<TransactionSignature>

spotMarketIndex · number · required

Spot market index

oracle · PublicKey · required

New oracle account public key

oracleSource · OracleSource · required

Oracle source type

return · Promise<TransactionSignature>

Transaction signature

AMM Management

moveAmmPrice

Moves the AMM price to new reserve values.

await adminClient.moveAmmPrice(
  perpMarketIndex: number,
  baseAssetReserve: BN,
  quoteAssetReserve: BN,
  sqrtK?: BN
): Promise<TransactionSignature>

perpMarketIndex · number · required

Perpetual market index

baseAssetReserve · BN · required

New base asset reserve

quoteAssetReserve · BN · required

New quote asset reserve

sqrtK · BN

Square root of k (auto-calculated if not provided)

return · Promise<TransactionSignature>

Transaction signature

repegAmmCurve

Repegs the AMM curve to a new peg multiplier.

await adminClient.repegAmmCurve(
  newPeg: BN,
  perpMarketIndex: number
): Promise<TransactionSignature>

newPeg · BN · required

New peg multiplier

perpMarketIndex · number · required

Perpetual market index

return · Promise<TransactionSignature>

Transaction signature

updateK

Updates the k parameter for an AMM.

await adminClient.updateK(
  perpMarketIndex: number,
  sqrtK: BN
): Promise<TransactionSignature>

perpMarketIndex · number · required

Perpetual market index

sqrtK · BN · required

New square root of k value

return · Promise<TransactionSignature>

Transaction signature

Fee Structure Management

updatePerpFeeStructure

Updates the perpetual market fee structure.

await adminClient.updatePerpFeeStructure(
  feeStructure: FeeStructure
): Promise<TransactionSignature>

feeStructure · FeeStructure · required

New fee structure configuration

Show properties

feeTiers · FeeTier[] · required

Array of fee tiers

fillerRewardStructure · OrderFillerRewardStructure · required

Filler reward configuration

referrerRewardEpochUpperBound · BN · required

Upper bound for referrer rewards

flatFillerFee · BN · required

Flat filler fee amount

return · Promise<TransactionSignature>

Transaction signature

updateSpotFeeStructure

Updates the spot market fee structure.

await adminClient.updateSpotFeeStructure(
  feeStructure: FeeStructure
): Promise<TransactionSignature>

feeStructure · FeeStructure · required

New fee structure configuration

return · Promise<TransactionSignature>

Transaction signature

State Parameter Updates

updateAdmin

Transfers admin authority to a new address.

await adminClient.updateAdmin(
  admin: PublicKey
): Promise<TransactionSignature>

admin · PublicKey · required

New admin public key

return · Promise<TransactionSignature>

Transaction signature

updateOracleGuardRails

Updates oracle guard rails for price validation.

await adminClient.updateOracleGuardRails(
  oracleGuardRails: OracleGuardRails
): Promise<TransactionSignature>

oracleGuardRails · OracleGuardRails · required

New oracle guard rail configuration

Show properties

priceDivergence · object · required

Price divergence parameters

validity · object · required

Oracle validity parameters

return · Promise<TransactionSignature>

Transaction signature

updateLiquidationDuration

Updates the liquidation duration parameter.

await adminClient.updateLiquidationDuration(
  liquidationDuration: number
): Promise<TransactionSignature>

liquidationDuration · number · required

New liquidation duration in seconds

return · Promise<TransactionSignature>

Transaction signature

Usage Example

import { AdminClient } from '@drift-labs/sdk';
import { Connection, PublicKey } from '@solana/web3.js';
import { BN } from '@coral-xyz/anchor';

// Initialize admin client
const connection = new Connection('https://api.mainnet-beta.solana.com');
const adminClient = new AdminClient({
  connection,
  wallet: adminWallet,
  env: 'mainnet-beta',
});

await adminClient.subscribe();

// Initialize a new perpetual market
const marketIndex = 10;
const oracle = new PublicKey('...');
const baseAssetReserve = new BN(100_000_000_000); // 100 SOL
const quoteAssetReserve = new BN(10_000_000_000); // 10,000 USDC
const periodicity = new BN(3600); // 1 hour

await adminClient.initializePerpMarket(
  marketIndex,
  oracle,
  baseAssetReserve,
  quoteAssetReserve,
  periodicity,
  undefined, // default peg
  OracleSource.PYTH,
  ContractTier.A,
  2000, // 20% initial margin
  500,  // 5% maintenance margin
  0,
  10000,
  0,
  true,
  100,
  142500,
  undefined,
  undefined,
  undefined,
  undefined,
  undefined,
  undefined,
  undefined,
  0,
  0,
  'BTC-PERP'
);

// Update market parameters
await adminClient.updatePerpMarketMarginRatio(
  marketIndex,
  1500, // 15% initial margin
  400   // 4% maintenance margin
);

// Update base spread
await adminClient.updatePerpMarketBaseSpread(
  marketIndex,
  50 // 0.5 bps
);

await adminClient.unsubscribe();