Leverage delegate program

The leverage-delegate program: take-profit, stop-loss, entry and hLP orders.

Updated Sep 25, 2026

Orders are accounts on a second program. A position owner grants it a delegation on the Dusk program; the delegate then holds the order and, when a keeper executes it, approves the close through a before-hook and settles it through an after-hook inside delegated_close_leverage.

Entry orders and hLP orders escrow the user's assets in the delegate program until they fill, expire or are cancelled. See Leverage and Leverage and hedging.

Program ID: AXUucZ…PqqHbX
IDL: leverage_delegate 2.0.0
Instructions: 18
Accounts: 12
Events: 2
Errors: 6

Instructions

`after_close_order`

The delegate's after-hook: verify the settlement, pay the executor and the protocol order fee, finish or reduce the order.

Caller: A keeper, inside delegated_close_leverage
Discriminator: 9ce0eefa5fe5eb3b

Arguments

args: ExecuteOrderArgs

Field	Type	Notes
order_id	u64

Accounts

Account	Flags	Resolution	Notes
order	writable	PDA ["leverage_order", order.position, order.owner, args.args.order_id]
owner	writable
leverage_position
leverage_delegation
owner_token_account
executor_token_account
fee_recipient
token_mint
executor			across the delegated callback boundary.
futarchy_authority

`before_stop_loss`

The delegate's before-hook: verify a stop-loss trigger and stage the close approval.

Caller: A keeper, inside delegated_close_leverage
Discriminator: f63e52e8a8c7794e

Arguments

args: ExecuteOrderArgs

Field	Type	Notes
order_id	u64

Accounts

Account	Flags	Resolution	Notes
order	writable	PDA ["leverage_order", leverage_position, order.owner, args.args.order_id]
market
leverage_position
leverage_delegation
owner_token_account
fee_recipient
executor_token_account
futarchy_authority
collateral_mint			Collateral mint is needed to reproduce the exact net reserve credit for Token-2022 transfer-fee assets before approving a partial close.
token_mint
executor			across the delegated callback boundary.

`before_take_profit`

The delegate's before-hook: verify a take-profit trigger and stage the close approval.

Caller: A keeper, inside delegated_close_leverage
Discriminator: 05236f00df83c11f

Arguments

args: ExecuteOrderArgs

Field	Type	Notes
order_id	u64

Accounts

Account	Flags	Resolution	Notes
order	writable	PDA ["leverage_order", leverage_position, order.owner, args.args.order_id]
market
leverage_position
leverage_delegation
owner_token_account
fee_recipient
executor_token_account
futarchy_authority
collateral_mint			Collateral mint is needed to reproduce the exact net reserve credit for Token-2022 transfer-fee assets before approving a partial close.
token_mint
executor			across the delegated callback boundary.

`cancel_hlp_order`

Cancel an hLP order and return the escrowed shares.

Caller: The order owner
In the app: Portfolio · Orders
Discriminator: 81b2584df4270cc2

Arguments

args: HlpOrderIdArgs

Field	Type	Notes
order_id	u64

Accounts

Account	Flags	Resolution
order	writable	PDA ["hlp_order", order.market, owner, order.target_hlp_mint, args.args.order_id]
target_hlp_mint
custody_hlp_account	writable
owner_hlp_account	writable
owner	signer
token_2022_program		TokenzQd…xuEb

`cancel_leverage_entry_order`

Cancel an unfilled entry order and return the escrowed margin.

Caller: The order owner
In the app: Portfolio · Orders
Discriminator: ab2204562dd37752

Arguments

args: LeverageEntryOrderIdArgs

Field	Type	Notes
order_id	u64
min_owner_refund_out	u64	Minimum amount actually credited to the owner on cancel or execution. Zero keeps cancellation available when transfer fees consume escrow.

Accounts

Account	Flags	Resolution
order	writable	PDA ["leverage_entry_order", order.market, owner, args.args.order_id]
debt_mint	writable
funding_vault	writable
owner_funding_account	writable
owner	writable · signer
token_program		Tokenkeg…Q5DA
token_2022_program		TokenzQd…xuEb

`cancel_leverage_order`

Cancel an order and close its account.

Caller: The position owner
In the app: Portfolio · Orders
Discriminator: 1a58ad6aaff2cb7a

Arguments

_args: CancelLeverageOrderArgs

Field	Type	Notes
order_id	u64

Accounts

Account	Flags	Resolution	Notes
order	writable	PDA ["leverage_order", order.position, owner, args.args.order_id]
owner	writable · signer

`cancel_protection_order`

Close a protection order and return its remaining escrowed LP shares to the owner.

Caller: The order owner
In the app: Portfolio · Protection orders
Discriminator: 2efe5336c1c5978a

Arguments

None.

Accounts

Account	Flags	Resolution
order	writable	PDA ["protection_order", owner, order.order_id]
lp_mint
custody_lp_account	writable
owner_lp_account	writable
owner	signer
token_2022_program		TokenzQd…xuEb

`create_hlp_order`

Escrow hLP shares under a stop-loss (kind 1, on NAV per share) or stop-rate (kind 2, on the funding average) order.

Caller: The hLP holder
In the app: Earn · Orders
Discriminator: 41389dba6bd07da3

Arguments

args: CreateHlpOrderArgs

Field	Type	Notes
order_id	u64
kind	u8	1 for stop-loss, 2 for stop-rate.
hlp_amount	u64	Shares escrowed.
trigger_nad	u64	The NAV or funding APR that arms the order.
min_target_amount_out	u64	Minimum received on execution, after bounties.

Accounts

Account	Flags	Resolution
market
target_hlp_mint
base_mint
quote_mint
order	writable	PDA ["hlp_order", market, owner, target_hlp_mint, args.args.order_id]
owner_hlp_account	writable
custody_hlp_account	writable
base_yield_account	writable
quote_yield_account	writable
owner	writable · signer
dusk_event_authority		PDA ["__event_authority"]
dusk_program		2rYBVfGu…o16Y
token_2022_program		TokenzQd…xuEb
system_program		11111111…1111

`create_leverage_entry_order`

Escrow margin for a limit entry: the position opens when the market reaches the price, before the expiry.

Caller: The future position owner
In the app: Leverage · Limit
Discriminator: 8eea74af19d09717

Arguments

args: CreateLeverageEntryOrderArgs

Field	Type	Notes
order_id	u64
position_id	pubkey
debt_asset	u8
deposit_amount	u64	Margin escrowed, plus the protocol fee deposit.
protocol_fee_deposit_amount	u64	Additional gross fee funding, transferred separately so margin and bounty stay intact.
min_margin_amount	u64
executor_bounty	u64	Paid to whoever fills the order.
multiplier_bps	u64	Notional over margin at fill.
limit_price_nad	u64	The price condition.
min_collateral_out	u64
expiry_unix_timestamp	i64	One hour to thirty days out; no good-till-cancelled.
referrer	Option<pubkey>

Accounts

Account	Flags	Resolution
market
debt_mint
collateral_mint
order	writable	PDA ["leverage_entry_order", market, owner, args.args.order_id]
owner_funding_account	writable
funding_vault	writable
owner	writable · signer
token_program		Tokenkeg…Q5DA
token_2022_program		TokenzQd…xuEb
system_program		11111111…1111

`create_leverage_order`

Create a take-profit (kind 1) or stop-loss (kind 2) order on a delegated leverage position.

Caller: The position owner
In the app: Leverage · TP/SL
Discriminator: c5ce0adf592e5d11

Arguments

args: CreateLeverageOrderArgs

Field	Type	Notes
order_id	u64	Owner-chosen id; part of the order address.
kind	u8	1 for take-profit, 2 for stop-loss.
trigger_closeout_price_nad	u64	The closeout price that arms the order.
close_bps	u16	How much of the position to close, 10,000 for all.

Accounts

Account	Flags	Resolution
market
leverage_position
order	writable	PDA ["leverage_order", leverage_position, owner, args.args.order_id]
owner	writable · signer
system_program		11111111…1111

`create_protection_order`

Escrow LP shares for a borrow or leverage position and set the health trigger, repayment target, and keeper payment limits.

Caller: The order's owner, who need not own the position
In the app: Portfolio · Protection orders
Discriminator: 0a188c91311887c7

Arguments

args: CreateProtectionOrderArgs

Field	Type	Notes
order_id	u64
action	u8
debt_asset	u8
lp_amount	u64
max_lp_per_execution	u64
max_payment_per_execution	u64
trigger_health_bps	u64
target_health_bps	u64
min_payment_per_lp_nad	u64	Minimum gross payment per LP smallest unit, scaled by 1e9.
keeper_fee_bps	u16
expires_at	i64

Accounts

Account	Flags	Resolution
market
borrow_position	optional
leverage_position	optional
lp_mint
base_mint
quote_mint
order	writable	PDA ["protection_order", owner, args.args.order_id]
owner_lp_account	writable
custody_lp_account	writable
base_yield_account	writable
quote_yield_account	writable
owner	writable · signer
dusk_event_authority		PDA ["__event_authority"]
dusk_program		2rYBVfGu…o16Y
token_2022_program		TokenzQd…xuEb
system_program		11111111…1111

`execute_hlp_order`

Withdraw the escrowed shares to the target asset once the trigger holds, deducting the executor bounty and the protocol fee.

Caller: Any keeper
Discriminator: ba32b16ca8ca8ec9

Arguments

args: HlpOrderIdArgs

Field	Type	Notes
order_id	u64

Accounts

Account	Flags	Resolution
order	writable	PDA ["hlp_order", market, order.owner, order.target_hlp_mint, args.args.order_id]
market	writable
futarchy_authority
base_mint	writable
quote_mint	writable
srlp_mint	writable
target_hlp_mint	writable
base_reserve_vault	writable
quote_reserve_vault	writable
borrowed_interest_vault	writable
custody_target_account	writable
custody_hlp_account	writable
hlp_srlp_account	writable
base_yield_account	writable
quote_yield_account	writable
owner_target_account	writable
executor_target_account	writable
executor	signer
order_owner	writable
dusk_event_authority		PDA ["__event_authority"]
dusk_program		2rYBVfGu…o16Y
protocol_fee.fee_recipient	writable
token_program		Tokenkeg…Q5DA
token_2022_program		TokenzQd…xuEb

`execute_leverage_entry_order`

Fill an entry order whose price condition holds, opening the position for its owner.

Caller: Any keeper
Discriminator: 63433961cc47ac90

Arguments

args: LeverageEntryOrderIdArgs

Field	Type	Notes
order_id	u64
min_owner_refund_out	u64	Minimum amount actually credited to the owner on cancel or execution. Zero keeps cancellation available when transfer fees consume escrow.

Accounts

Account	Flags	Resolution
order	writable	PDA ["leverage_entry_order", market, order.owner, args.args.order_id]
market	writable
futarchy_authority
owner	writable
leverage_position	writable
debt_mint	writable
collateral_mint
debt_reserve_vault	writable
collateral_reserve_vault	writable
leverage_collateral_vault	writable
funding_vault	writable
owner_refund_account	writable
executor_bounty_account	writable
referral_partner	optional
referral_accrual	optional
instructions_sysvar		Sysvar1n…1111
executor	writable · signer
dusk_event_authority		PDA ["__event_authority"]
dusk_program		2rYBVfGu…o16Y
protocol_fee.fee_recipient	writable
token_program		Tokenkeg…Q5DA
token_2022_program		TokenzQd…xuEb
system_program		11111111…1111

`execute_protection_order`

Use escrowed LP shares to repay an unhealthy position, then pay the keeper and protocol fees within the owner's limits.

Caller: Any keeper
Discriminator: f3c130e0ada18157

Arguments

args: ExecuteProtectionOrderArgs

Field	Type	Notes
lp_amount	u64
payment_amount	u64	Maximum gross payment taken from the keeper's own token account.

Accounts

Account	Flags	Resolution	Notes
order	writable	PDA ["protection_order", order.owner, order.order_id]
market	writable
futarchy_authority
borrow_position	writable · optional
leverage_position	writable · optional
position_owner
base_mint
quote_mint
lp_mint	writable
srlp_mint	writable
base_reserve_vault	writable
quote_reserve_vault	writable
payment_vault	writable		Native repayment reserve or collateral donation vault, validated by Dusk.
debt_interest_vault	writable
borrowed_interest_vault	writable · optional
hlp_srlp_account	writable · optional
custody_lp_account	writable
custody_base_account	writable
custody_quote_account	writable
base_yield_account	writable
quote_yield_account	writable
owner_base_account	writable
owner_quote_account	writable
keeper_payment_account	writable
referral_partner	optional
referral_accrual	writable · optional
keeper	writable · signer
dusk_event_authority		PDA ["__event_authority"]
dusk_program		2rYBVfGu…o16Y
protocol_fee.fee_recipient	writable
token_program		Tokenkeg…Q5DA
token_2022_program		TokenzQd…xuEb

`fund_protection_order`

Add owner-held LP shares to an existing protection order's escrow.

Caller: The order owner
In the app: Portfolio · Protection orders
Discriminator: 8cf4782889a659b2

Arguments

args: FundProtectionOrderArgs

Field	Type	Notes
lp_amount	u64

Accounts

Account	Flags	Resolution
order	writable	PDA ["protection_order", owner, order.order_id]
lp_mint
custody_lp_account	writable
owner_lp_account	writable
owner	signer
token_2022_program		TokenzQd…xuEb

`preview_protection_order`

Read-only: calculate the linked position's health using the current market state and collateral mint.

Caller: Any client, by simulation
Discriminator: 90d39074ff66fcef

Arguments

None.

Accounts

Account	Flags	Resolution	Notes
order
market
borrow_position	optional
leverage_position	optional
collateral_mint

`settle_hlp_order_yield`

Pay yield that accrued to escrowed shares after the order left escrow.

Caller: Anyone
Discriminator: 0168c10d0d09f397

Arguments

args: HlpOrderIdArgs

Field	Type	Notes
order_id	u64

Accounts

Account	Flags	Resolution
order	writable	PDA ["hlp_order", market, order.owner, order.target_hlp_mint, args.args.order_id]
market	writable
futarchy_authority		PDA ["futarchy_authority"]
target_hlp_mint
custody_hlp_account	writable
owner_hlp_account	writable
base_mint
quote_mint
base_reserve_vault	writable
quote_reserve_vault	writable
base_interest_vault	writable
quote_interest_vault	writable
base_yield_account	writable
quote_yield_account	writable
owner_base_account	writable
owner_quote_account	writable
owner	writable
dusk_event_authority		PDA ["__event_authority"]
dusk_program		2rYBVfGu…o16Y
token_program		Tokenkeg…Q5DA
token_2022_program		TokenzQd…xuEb

`update_leverage_order`

Change an order's trigger price or size.

Caller: The position owner
In the app: Portfolio · Orders
Discriminator: 196565037de52ef2

Arguments

args: UpdateLeverageOrderArgs

Field	Type	Notes
order_id	u64
kind	u8
trigger_closeout_price_nad	u64
close_bps	u16

Accounts

Account	Flags	Resolution
market
leverage_position
order	writable	PDA ["leverage_order", leverage_position, owner, args.args.order_id]
owner	writable · signer

Accounts

The delegate program reads several Dusk accounts (Market, LeveragePosition, LeverageDelegation, YieldAccount, the referral accounts and the FutarchyAuthority) and owns the three order accounts.

`BorrowPosition`

A public credit position: collateral on both sides, fixed debt shares per side, stored liquidation factors, referral bindings and fields left from the retired liquidation auction.

PDA seeds: "borrow_position_v2", market, position id
SDK helper: deriveBorrowPositionAddress
Discriminator: f38c148b20f37237

Field	Type	Notes
owner	pubkey
market	pubkey
position_id	pubkey
base_collateral	u64
quote_collateral	u64
global_health_base_contribution_for_quote_debt	u64
global_health_quote_contribution_for_base_debt	u64
base_liquidation_cf_bps	u16
quote_liquidation_cf_bps	u16
base_referral_partner	pubkey
quote_referral_partner	pubkey
base_referral_interest_share_bps	u16
quote_referral_interest_share_bps	u16
fixed_base_shares	u128
fixed_quote_shares	u128
fixed_base_principal	u64	Original base borrowed by this position that has not been repaid or written off.
fixed_quote_principal	u64	Original quote borrowed by this position that has not been repaid or written off.
active_liquidation_session	pubkey
auction_debt_asset	u8
auction_start_time	i64
auction_start_price_nad	u64
auction_floor_price_nad	u64
bump	u8

`FutarchyAuthority`

The protocol-level authority: revenue shares, recipients, referral share cap, auction configuration and the global reduce-only flag.

PDA seeds: "futarchy_authority"
SDK helper: deriveFutarchyAuthorityAddress
Discriminator: aff7a0b68c80d3e2

Field	Type	Notes
version	u8
authority	pubkey
recipients	RevenueRecipients
revenue_share	RevenueShare
max_referral_interest_share_bps	u16
revenue_distribution	RevenueDistribution
protocol_auction_split	ProtocolAuctionSplit
fee_auction	ProtocolAuctionConfig
buyback_auction	ProtocolAuctionConfig
global_reduce_only	bool
bump	u8

RevenueRecipients

Field	Type	Notes
futarchy_treasury	pubkey
buybacks_vault	pubkey
team_treasury	pubkey

RevenueShare

Field	Type	Notes
swap_bps	u16
interest_bps	u16	Global markup added to base borrowing interest. Each market closes elapsed interest at its previous value before binding a changed markup.

RevenueDistribution

Field	Type	Notes
futarchy_treasury_bps	u16
buybacks_vault_bps	u16
team_treasury_bps	u16

ProtocolAuctionSplit

Field	Type	Notes
fee_auction_bps	u16
buyback_auction_bps	u16

ProtocolAuctionConfig

Field	Type	Notes
accepted_mint	pubkey
recipients	ProtocolAuctionRecipients
params	ProtocolAuctionParams

ProtocolAuctionRecipients

Field	Type	Notes
treasury	pubkey
staking_vault	pubkey
treasury_bps	u16
staking_vault_bps	u16

ProtocolAuctionParams

Field	Type	Notes
start_multiplier_bps	u16
floor_multiplier_bps	u16
duration_slots	u64
max_reference_age_slots	u64

`HlpOrder`

An escrowed hLP stop-loss or stop-rate order: kind, status, shares, trigger and minimum output.

PDA seeds: "hlp_order", market, owner, target hLP mint, order id
Discriminator: a245440c2d0880d3

Field	Type	Notes
owner	pubkey
market	pubkey
target_hlp_mint	pubkey
custody_hlp_account	pubkey
order_id	u64
kind	u8
status	u8
hlp_amount	u64
trigger_nad	u64
min_target_amount_out	u64
bump	u8

`LeverageDelegation`

The delegate program allowed to act on a leverage position and the actions it may take.

PDA seeds: "leverage_delegation_v2", position
SDK helper: deriveLeverageDelegationAddress
Discriminator: 313c1d17f3db10d6

Field	Type	Notes
owner	pubkey
market	pubkey
position	pubkey
debt_asset	u8
delegated_program	pubkey
approved_actions	u32
open_curve_revision	u64
bump	u8

`LeverageEntryOrder`

An escrowed limit entry: margin, executor bounty, multiplier, limit price, minimum collateral, expiry and optional referrer.

PDA seeds: "leverage_entry_order", market, owner, order id
Discriminator: 30d28ac974aeed9f

Field	Type	Notes
owner	pubkey
market	pubkey
position	pubkey
position_id	pubkey
debt_mint	pubkey
collateral_mint	pubkey
order_id	u64
debt_asset	u8
margin_amount	u64	Gross vault debit forwarded to Dusk as margin.
executor_bounty	u64	Minimum net credit paid to the successful executor.
multiplier_bps	u64
limit_price_nad	u64
min_collateral_out	u64
expiry_unix_timestamp	i64
referrer	Option<pubkey>
bump	u8

`LeverageOrder`

A take-profit or stop-loss order on a delegated position: kind, trigger closeout price, size, and staged approval state.

PDA seeds: "leverage_order", position, owner, order id
Discriminator: e8a22d946a6a2584

Field	Type	Notes
owner	pubkey
market	pubkey
position	pubkey
open_curve_revision	u64
order_id	u64
kind	u8
trigger_closeout_price_nad	u64
close_bps	u16
staged_margin	u64
staged_collateral_amount	u64
staged_remaining_collateral_amount	u64
staged_remaining_debt_shares	u128
staged_remaining_debt_principal	u128
staged_owner_token_account	pubkey
staged_owner_balance	u64
staged_fee_recipient	pubkey
staged_fee_balance	u64
staged_executor_token_account	pubkey
staged_executor_balance	u64
staged_output_mint	pubkey
staged_output_amount	u64
staged_protocol_fee_debit	u64
staged_protocol_fee_credit	u64
staged_executor_credit	u64
staged_execution_value	u64	Executed collateral-sale value in debt tokens, before debt repayment.
bump	u8

`LeveragePosition`

An isolated leverage position: debt asset, collateral, margin, notional, debt shares, multiplier and timestamps.

PDA seeds: "leverage_position_v2", market, position id
SDK helper: deriveLeveragePositionAddress
Discriminator: 584e7c44e48122fb

Field	Type	Notes
owner	pubkey
market	pubkey
namespace_authority	pubkey	Funding signer that established this position. Ordinary opens use the owner; sponsored entry orders use their owner-created order PDA.
position_id	pubkey
referral_partner	pubkey
referral_interest_share_bps	u16
debt_asset	u8
collateral_amount	u64
margin_terms	LeverageMarginTerms
margin_amount	u64	Entry equity valued in debt-token atoms.
open_notional	u64
debt_principal	u128
debt_shares	u128
multiplier_bps	u64
opened_at	i64
opened_slot	u64
open_curve_revision	u64	Market curve revision committed by this opening. A recreated PDA gets a new revision even if it reopens in the same slot.
active_liquidation_session	pubkey
close_approval	CloseApprovalQuote
bump	u8

LeverageMarginTerms

Field	Type	Notes
reference_collateral	u64
maintenance_boundaries_bps	[u16; 2]
maintenance_rates_bps	[u16; 3]
entry_buffer_bps	u16
admission_equity_collateral_nad	u128	Collateral atoms times NAD, not a fixed debt-token or dollar amount. Retained on equity extraction; released proportionally on size reduction.

CloseApprovalQuote

Field	Type	Notes
slot	u64
close_bps	u16
collateral_credit	u64
selected_output	u64
full_output	u64

`Market`

One market: configuration, curve state, both sides' reserves and fee liabilities, debt indexes, the two hLP vaults, risk observations, oracle policy, tranche capital and policy, the active jrLP mint, the income books, operator/manager authority and parameter revisions and the reduce-only flag.

PDA seeds: "market_v2", base mint, quote mint, params hash
SDK helper: deriveMarketAddress
Discriminator: dbbed53700e3c69a

Field	Type	Notes
oracle	OracleState
version	u8
srlp_mint	pubkey
base_side	MarketSide
quote_side	MarketSide
config	MarketConfig
amm	AmmState
debt	Debt
tranches	TrancheCapital	One shared junior capital budget across both reserve/debt books.
income	MarketIncomeBooks
junior_exit_config	JuniorExitConfig
tranche_policy	TranchePolicy
junior_mint	pubkey
base_hlp_vault	HlpVault
quote_hlp_vault	HlpVault
risk	Risk
params_hash	[u8; 32]
initial_liquidity_authority	pubkey	One-shot signer allowed to provide the first fully-backed Base/Quote seed. It is cleared permanently once srLP supply becomes nonzero.
operator	OperatorState	Sole per-market authority; token ownership carries no configuration rights.
protocol_interest_markup_bps	u16	Internal mirror of the global FutarchyAuthority markup, never an operator parameter.
parameter_revisions	[u64; 7]	Independent monotone revisions for fee, concentration, IRM, EMA, daily-borrow-limit, center-controller, and tranche parameter families.
last_marginal_observation_nad	u64	Latest trader-visible marginal price committed by a curve mutation.
curve_revision	u64	Monotone revision for executable-curve mutations.
risk_revision	u64	Curve revision represented by the materialized lending-risk snapshot.
last_update_slot	u64
reduce_only	bool
bump	u8

OracleState

Field	Type	Notes
policy	OraclePolicy
last_observation	OracleObservation
revision	u64
recognized_tail_liquidity	u128	Recognized native-tail depth cannot grow merely because an OP trade moves to a different native invariant. Real ordinary LP capital scales the ceiling through its share supply; losses reduce it immediately.
recognized_ordinary_supply	u64
runtime	RuntimePricing

OraclePolicy

Field	Type	Notes
format	u8
provider	pubkey
base_account	pubkey
quote_account	pubkey
base_feed_id	[u8; 32]
quote_feed_id	[u8; 32]
lambda_bps	u16
adjustment_cap_nad	u64
max_age_seconds	u32
max_age_slots	u64
max_confidence_bps	u16
max_publish_skew_seconds	u32

OracleObservation

Field	Type	Notes
price_nad	u64
confidence_nad	u64
publish_time	i64
posted_slot	u64
sequence	u64
hash	[u8; 32]
source_times	[i64; 2]
source_slots	[u64; 2]
source_sequences	[u64; 2]	Independent counters retain replay protection when only one leg updates.
source_hashes	[[u8; 32]; 2]	Each normalized report is immutable at an already observed counter.

RuntimePricing

Field	Type	Notes

MarketSide

Field	Type	Notes
asset_mint	pubkey
asset_decimals	u8
hlp_mint	pubkey
reserve_vault	pubkey
collateral_vault	pubkey
interest_vault	pubkey
reserves	Reserves
shares	ReserveShares
fees	Fees
daily_borrow_bucket	DailyBorrowBucket

Reserves

Field	Type	Notes
flash_receivable	u64	Same-transaction collateral receivable. Included in backing, excluded from cash available to swaps, loans and withdrawals.
live_reserve	u128	Wider than SPL custody: includes cash, indexed public debt and synthetic hLP backing. Unpaid interest never becomes executable curve inventory.
cash_reserve	u64
base_hlp_backing_inventory	u64	Physical reserve-vault atoms removed from executable AMM inventory by base-hLP deleveraging. They are conservation-only bookkeeping, excluded from hLP NAV and exit output, and return to executable cash pro rata as base hLP exits.
quote_hlp_backing_inventory	u64	Quote-hLP counterpart of `base_hlp_backing_inventory`; never a second hLP NAV or withdrawal claim.
protected_recenter_reserve	u64	Physical reserve-vault atoms retained from toxicity surcharge for a future protected recenter. They are custody-backed but excluded from executable cash/live reserves, srLP NAV, and every withdrawal claim.

ReserveShares

Field	Type	Notes
srlp_supply	u64

Fees

Field	Type	Notes
junior	TrancheIncome
public_interest_advance	PublicInterestAdvance
swap_fee_growth_index_q64	u128
interest_growth_index_q64	u128
swap_fee_growth_remainder_scaled	u64	Scaled fee entitlement not yet representable by the integer growth index. The corresponding whole-token backing already sits in `swap_fee_liability`; it must never be redistributed as unallocated revenue.
interest_growth_remainder_scaled	u64	Interest counterpart of `swap_fee_growth_remainder_scaled`.
hlp_funding_interest_growth_remainder_scaled	u64	Source-scoped Q64 carry for interest paid by hLP funding debt. Funding uses a non-hLP denominator, while public interest uses total srLP supply; sharing one carry across those denominators would eventually leak rounding entitlement between the two populations.
swap_fee_custody_balance	u64	Claimable swap fees physically held in the reserve vault but excluded from executable cash and live reserves.
interest_vault_balance	u64
swap_fee_liability	u64
interest_liability	u64
unallocated_swap_fee_liability	u64
unallocated_interest_liability	u64
swap_protocol_fee_liability	u64
swap_buyback_fee_liability	u64
interest_protocol_fee_liability	u64
interest_buyback_fee_liability	u64
referral_interest_liability	u64
revenue_interest_liability	u64	Shared custody for operator claims and protocol fractional carry.
fee_auction_reference_market	pubkey	Governance-approved reference market for fee-lane auctions. A default key permits only the sold market itself when it directly pairs the sold and accepted mints.
buyback_auction_reference_market	pubkey	Governance-approved reference market for buyback-lane auctions. A default key has the same direct-market-only meaning as above.
fee_swap_auction_epoch	ProtocolAuctionEpoch
fee_interest_auction_epoch	ProtocolAuctionEpoch
buyback_swap_auction_epoch	ProtocolAuctionEpoch
buyback_interest_auction_epoch	ProtocolAuctionEpoch

DailyBorrowBucket

Field	Type	Notes
borrowed_bucket	u64	Gross principal lent out through the public borrow path. Internal hLP funding and isolated leverage do not consume this capacity. This is a 24-hour leaky/token bucket, not an exact trailing-window sum: it permits a full burst after idle and then refills at the configured daily rate.
last_decay_slot	u64
decay_remainder_ms	u64	Numerator remainder from `limit * elapsed_ms / MS_PER_DAY`. For a fixed absolute limit, carrying it makes refill independent of how often the bucket is checkpointed. The bps-derived absolute limit can still move when conservative market depth changes.

MarketConfig

Field	Type	Notes
swap_fee_bps	u16
divergence_fee_share_cap_bps	u16
volatility_fee_share_cap_bps	u16
target_hlp_leverage_bps	u16
settlement_divergence_bps	u16
ema_half_life_ms	u64
directional_ema_half_life_ms	u64
curve_depth_ema_half_life_ms	u64
max_daily_borrow_bps	u16
global_health_contribution_cap_bps	u16
borrow_market_health_floor_bps	u16
amm	AmmConfig
irm	RiskRateConfig
start_time	i64

AmmConfig

Field	Type	Notes
peak_amplification_nad	u64
core_half_width_bps	u16
fade_width_bps	u16
center_ema_half_life_ms	u64
volatility_half_life_ms	u64
adjustment_step_nad	u64
volatility_shock_cap_nad	u64
volatility_cap_nad	u64
divergence_fee_coefficient_nad	u64
volatility_fee_coefficient_nad	u64
swap_fee_collect_mode	u8	Asset in which swap, toxicity, volatility, and retained-recenter fees are denominated. Lending and hLP funding interest remain in the borrowed asset and are not affected by this setting.
compounding_fee_bps	u16	Share of the LP-owned swap fee which becomes ordinary reserve principal instead of a claimable fee liability. Zero disables native compounding; `BPS_DENOMINATOR` compounds the complete LP share.
launch_fee_start_bps	u16	Optional launch-only base fee. The premium above `swap_fee_bps` decays from `start_time` and is zero after the configured duration.
launch_fee_duration_seconds	u64
launch_fee_decay_mode	u8
launch_market_price_step_bps	u16	When all three values are zero, the launch fee follows the time schedule above. A fully nonzero tuple selects a price-milestone scheduler whose reference price is bound by the first liquidity seed.
launch_market_number_of_periods	u16
launch_market_reduction_factor_bps	u16
launch_rate_limit_asset	u8	Optional launch buy-size limiter. The configured asset is the asset being bought, not the input asset. Each full/partial reference amount after the first adds `launch_rate_limit_increment_bps`, capped by `launch_rate_limit_max_fee_bps`.
launch_rate_limit_reference_nad	u64
launch_rate_limit_increment_bps	u16
launch_rate_limit_max_fee_bps	u16
launch_rate_limit_duration_seconds	u64
reserved	[u8; 0]

RiskRateConfig

Field	Type	Notes
lower_signal_nad	u64
upper_signal_nad	u64
lower_utilization_bps	u16
upper_utilization_bps	u16
half_life_ms	u64
initial_apr_nad	u64

AmmState

Field	Type	Notes
initialized	bool
concentration_ramp	ConcentrationRamp
concentrated_curve_cache	ConcentratedCurveCache	Concentrated CPMM-tail/band geometry. CPMM is represented by zero concentrated liquidity in this same cache.
center_price_nad	u64
price_ema_nad	u64
last_trade_price_nad	u64
last_observation_slot	u64
last_adjustment_slot	u64
launch_reference_price_nad	u64	Immutable launch price reference bound by the first fully-backed liquidity seed. Zero is allowed only before that seed.
launch_fee_progress_offset	u16	Fee-schedule progress already completed by a bootstrap adapter before the market graduates into GAMM.
volatility_accumulator_nad	u64
curve_depth_per_share_nad	u128
protected_floor_per_share_nad	u128	srLP principal floor protected from funded recenter/ramp impairment.
retention_required_nad	u128	Fresh protected-profit target that arms retained surcharge routing. This is a principal-budget target, never a cap on trader fees.
retention_stop_nad	u128	Hysteresis threshold below which retention remains armed.
retention_hard_cap_nad	u128	Maximum protected principal one controller target may request/spend. It does not clip divergence or volatility surcharge amounts.
retain_dynamic_surcharge	bool	When true, dynamic surcharge is locked in the non-quoteable protected recenter bucket; when false, the identical trader charge is routed to claimable srLP fee accounting.
retention_target_saturated	bool	The requested protection target exceeded its principal-budget cap.
retention_target_stale	bool	The protected bucket changed after the last exact forward-target solve. While stale, retention stays on until a decision point refreshes the target or executes a funded recenter.
deferred_controller_target	DeferredControllerTarget	Exact unfunded controller target retried by later real operations.
frozen_hlp_mask	u8	A distressed hLP cannot be reconstructed as positive one-sided equity. Each bit freezes only that vault's share/debt hedge during swaps.
frozen_base_vault_base_offset_nad	i128	Fixed virtual-coordinate adjustment captured when the vault freezes. It preserves the pre-freeze executable price without treating the vault's negative equity as spendable token inventory.
frozen_base_vault_quote_offset_nad	i128
frozen_quote_vault_base_offset_nad	i128
frozen_quote_vault_quote_offset_nad	i128
_reserved	[u8; 0]

ConcentrationRamp

Field	Type	Notes
active	bool
start	ConcentratedCurveParameters
target	ConcentratedCurveParameters
start_slot	u64
end_slot	u64
last_attempt_slot	u64	Successful or rejected steps are attempted at most once per slot.

ConcentratedCurveCache

Field	Type	Notes
math_revision	u8
peak_amplification_nad	u64
core_half_width_bps	u16
fade_width_bps	u16
tail_liquidity	u128
concentrated_liquidity	u128
core_lower_sqrt_price_nad	u128
core_upper_sqrt_price_nad	u128
outer_lower_sqrt_price_nad	u128
outer_upper_sqrt_price_nad	u128

DeferredControllerTarget

Field	Type	Notes
kind	u8	0 = none, 2 = center move.
center_price_nad	u64
required_nad	u128
evaluated_base_reserve_nad	u128
evaluated_quote_reserve_nad	u128
created_slot	u64
saturated	bool

Debt

Field	Type	Notes
fixed_base_shares	u128
fixed_quote_shares	u128
base_borrow_index_nad	u128
quote_borrow_index_nad	u128
base_borrow_index_remainder	u128	Fractional index growth carried across checkpoints. Denominator is `NAD * MS_PER_YEAR`, so frequent checkpoints cannot discard interest.
quote_borrow_index_remainder	u128
base_borrow_apr_nad	u128
quote_borrow_apr_nad	u128
base_borrow_apr_fraction_e18	u64	Fractional NAD APR carried by the exponential controller (scale 1e9).
quote_borrow_apr_fraction_e18	u64
global_health_base_contribution_for_quote_debt	u64
global_health_quote_contribution_for_base_debt	u64
base_last_accrual_slot	u64
quote_last_accrual_slot	u64
fixed_base_principal	u64	Aggregate outstanding principal (borrowed token amount, excluding accrued interest) backing fixed margin debt on each side. Accrued interest is `fixed__debt - fixed__principal`; tracked so interest can be routed to the interest vault (non-compounding) instead of compounding into reserves. Principal is a raw token-atom balance and is therefore bounded by the corresponding `u64` reserve custody domain.
fixed_quote_principal	u64
isolated_base_shares	u128	Aggregate isolated leverage debt. This debt contributes to utilization and interest, but is intentionally not utilized as normal margin debt. Shares remain `u128`; raw principal remains in the token account's `u64` amount domain.
isolated_quote_shares	u128
isolated_base_principal	u64
isolated_quote_principal	u64
leverage_base_collateral	u64	Gross collateral atoms in debt-bearing leverage positions. Counts all owners and namespaces; custody donations cannot create exposure credit.
leverage_quote_collateral	u64

TrancheCapital

Field	Type	Notes
junior_reserve_shares	u64
junior_receipt_supply	u64
permanent_receipts	u64	Funded, nonredeemable protocol receipts; included in junior supply.
queued_receipts	u64	Escrow remains junior until a successful conversion or cancellation.
generation	u64

MarketIncomeBooks

Field	Type	Notes
books	[IncomeReceivableBook; 4]	base public, quote public, base hLP funding, quote hLP funding.
revenue	[InterestRevenueBook; 4]
pending	[u64; 4]	Gross settlement budget awaiting measured net custody credit.
seed	[IncomeReceivableClaim; 4]
hlp	[[IncomeReceivableClaim; 2]; 2]	[hLP target][income asset], owned by the vault rather than its holders.
junior_end	[IncomeExposureEnd; 4]
split_carry_bps	[u16; 4]

IncomeReceivableBook

Field	Type	Notes
epoch	u64
unpaid	u64
units	u64
paid_per_unit_q64	u128
paid_remainder	u64
growth	[ReceivableGrowth; 4]	Ordinary senior, junior, base hLP, quote hLP.

InterestRevenueBook

Field	Type	Notes
gross_unpaid	u64
protocol_unpaid	u64
operator_unpaid	u64
pending_gross	u64
pending_protocol_gross	u64
operator_claimable	u64
protocol_fraction_q64	u64
operator_fraction_q64	u64
protocol_cash_fraction_q64	u64

IncomeReceivableClaim

Field	Type	Notes
epoch	u64
units_q64	u128
paid_checkpoint_q64	u128
growth_checkpoint	ReceivableGrowth
paid_fraction_q128	u128
claimable	u64

IncomeExposureEnd

Field	Type	Notes
ended	bool
epoch	u64
growth	ReceivableGrowth

JuniorExitConfig

Field	Type	Notes
minimum_notice_slots	u64
maximum_notice_slots	u64
exercise_window_slots	u64

TranchePolicy

Field	Type	Notes
junior_income_share_bps	u16

HlpVault

Field	Type	Notes
flash_collateral_debit	u64	Collateral committed to one atomic flash recovery. Receipt supply is fixed until settlement; retail operations on other positions may run.
srlp_vault	pubkey
srlp_shares	u64
base_hlp_live_reserve	u64	hLP-owned live reserve depth that is not backed by reserve cash or normal cash-backed debt. This is the explicit synthetic live component in `r_virtual = r_cash + r_cash_backed_debt + r_hlp_live`.
quote_hlp_live_reserve	u64
debt_shares	u128	Funding debt used by the hLP vault. It accrues interest and counts toward utilization, but is not same-side cash-backed reserve debt.
debt_principal	u64	Raw borrowed token atoms; products and indexed shares stay `u128`.
hlp_supply	u64
residual_exposure	i128
base_swap_fee_growth_index_q64	u128
base_interest_growth_index_q64	u128
quote_swap_fee_growth_index_q64	u128
quote_interest_growth_index_q64	u128
base_swap_fee_checkpoint_q64	u128
base_interest_checkpoint_q64	u128
quote_swap_fee_checkpoint_q64	u128
quote_interest_checkpoint_q64	u128
base_swap_fee_remainder_q64	u64	Aggregate sub-atom srLP entitlement carried across hLP checkpoints. These are distinct from each holder YieldAccount remainder: this layer converts vault-owned srLP growth into hLP growth without double-flooring.
base_interest_remainder_q64	u64
quote_swap_fee_remainder_q64	u64
quote_interest_remainder_q64	u64
base_swap_fee_growth_remainder_scaled	u64	Sub-index distribution carry for the second, srLP-to-hLP allocation layer. Whole-token backing represented here has already left the corresponding `unallocated_*` bucket.
base_interest_growth_remainder_scaled	u64
quote_swap_fee_growth_remainder_scaled	u64
quote_interest_growth_remainder_scaled	u64
unallocated_base_swap_fee_amount	u64
unallocated_base_interest_amount	u64
unallocated_quote_swap_fee_amount	u64
unallocated_quote_interest_amount	u64
last_nav_nad	u128
cached_settlement_price_nad	u128	Base quoted in quote NAD units for either target asset; zero means unset.
funding_apr_ema_nad	u128	Smoothed APR of the opposite asset borrowed by this target-asset hLP. The fixed twelve-hour half-life gives Stop Rate orders stable semantics.
funding_apr_ema_last_slot	u64

Risk

Field	Type	Notes
base_price_ema_nad	u64
quote_price_ema_nad	u64
directional_base_price_ema_nad	u64
directional_quote_price_ema_nad	u64
cached_spot_base_price_nad	u64
cached_spot_quote_price_nad	u64
observed_curve_depth_nad	u128	Last observed total active curve depth in market amount units (see Market).
curve_depth_ema_nad	u128	EMA of total active curve depth in market amount units (see Market).
last_snapshot_slot	u64

OperatorState

Field	Type	Notes
authority	pubkey
manager	pubkey	Optional parameter delegate; operator ownership and revenue stay with authority.
epoch	u64
revenue_epoch	u64
next_nonce	u64	Monotone across authority transfers; a closed proposal PDA cannot be reused.
pending	pubkey
pending_author	pubkey	Prevents a manager from replacing an operator-authored bundle.
revenue_recipient	pubkey
interest_share_bps	u16

`ProtectionOrder`

An owner-funded LP escrow and execution limits for restoring a borrow or leverage position's health.

PDA seeds: "protection_order", owner, order id
Discriminator: fd52005bb2d560b9

Field	Type	Notes
owner	pubkey
market	pubkey
position	pubkey
position_owner	pubkey
lp_mint	pubkey
custody_lp_account	pubkey
order_id	u64
action	u8	0: borrow repayment; 1: borrow collateral donation; 2: leverage repayment.
debt_asset	u8
active	bool
remaining_lp	u64
max_lp_per_execution	u64
max_payment_per_execution	u64
trigger_health_bps	u64
target_health_bps	u64
min_payment_per_lp_nad	u64	Minimum gross payment per LP smallest unit, scaled by 1e9.
keeper_fee_bps	u16
expires_at	i64
bump	u8

`ReferralAccrual`

A partner's claimable interest for one market and asset mint.

PDA seeds: "referral_accrual", partner, market, asset mint
SDK helper: deriveReferralAccrualAddress
Discriminator: 23f61942aea03027

Field	Type	Notes
referral_partner	pubkey
market	pubkey
asset_mint	pubkey
amount	u64
bump	u8

`ReferralPartner`

A listed referrer: its authority, recipient, interest share and active flag.

PDA seeds: "referral_partner", authority
SDK helper: deriveReferralPartnerAddress
Discriminator: ea36a99d8ebbe1d6

Field	Type	Notes
authority	pubkey
recipient	pubkey
interest_share_bps	u16
active	bool
bump	u8

`YieldAccount`

Per owner, market, LP mint, asset and kind: checkpoints against the growth indexes and income books, accrued amounts, jrLP held in an exit request, the recipient and an optional harvest authority.

PDA seeds: "yield", market, owner, LP mint, asset mint, kind
SDK helper: deriveYieldAccountAddress
Discriminator: e9f17706020e6a9c

Field	Type	Notes
owner	pubkey
market	pubkey
lp_mint	pubkey	LP mint whose balance earns this account's revenue stream. This keeps base-hLP, quote-hLP, and srLP entitlements in disjoint PDA namespaces.
asset_mint	pubkey
token_kind	u8
recipient	pubkey
swap_fee_checkpoint_q64	u128
interest_checkpoint_q64	u128
accrued_swap_fee_amount	u64
accrued_interest_amount	u64
swap_fee_remainder_q64	u64	Sub-token fixed-point entitlement carried across checkpoints. Keeping this remainder prevents transfer/checkpoint frequency from destroying holder yield through repeated flooring.
interest_remainder_q64	u64
bump	u8
harvest_authority	Option<pubkey>	Optional caller allowed to harvest to the recipient without controlling the LP or changing either yield permission. Only the owner may set it.
income_initialized	bool
income	[IncomeReceivableClaim; 2]
escrow_balance	u64	Owner's junior exit escrow receipts. Historical unpaid-income ownership is checkpointed here alongside the liquid balance.

IncomeReceivableClaim

Field	Type	Notes
epoch	u64
units_q64	u128
paid_checkpoint_q64	u128
growth_checkpoint	ReceivableGrowth
paid_fraction_q128	u128
claimable	u64

ReceivableGrowth

Field	Type	Notes
units_q64	u128
weighted_paid_q128	[u64; 4]

Errors

Leverage delegate program errors · 6 of 6

Code	Name	Message
6000	InvalidOrder	Invalid leverage order
6001	TriggerNotMet	Order trigger is not met
6002	InvalidTokenAccount	Invalid token account
6003	MathOverflow	Math overflow
6004	ApprovalSerializationFailed	Approval serialization failed
6005	InvalidMarketVersion	Unsupported Dusk market version