The program (fee state) now gains a proportion of the origination fee…

…, as dictated in the program_fee_rate

programs/marginfi/src/instructions/marginfi_account/borrow.rs

@@ -12,7 +12,7 @@ use crate::{
 };
 use anchor_lang::prelude::*;
 use anchor_spl::token_interface::{TokenAccount, TokenInterface};
-use fixed::types::I80F48;
+use fixed::{traits::Fixed, types::I80F48};
 use solana_program::{clock::Clock, sysvar::Sysvar};
 
 /// 1. Accrue interest
@@ -44,6 +44,8 @@ pub fn lending_account_borrow<'info>(
     )?;
 
     let mut marginfi_account = marginfi_account_loader.load_mut()?;
+    let group = &marginfi_group_loader.load()?;
+    let program_fee_rate: I80F48 = group.fee_state_cache.program_fee_rate.into();
 
     check!(
         !marginfi_account.get_flag(DISABLED_FLAG),
@@ -52,7 +54,7 @@ pub fn lending_account_borrow<'info>(
 
     bank_loader.load_mut()?.accrue_interest(
         clock.unix_timestamp,
-        &*marginfi_group_loader.load()?,
+        group,
         #[cfg(not(feature = "client"))]
         bank_loader.key(),
     )?;
@@ -130,16 +132,35 @@ pub fn lending_account_borrow<'info>(
         });
     } // release mutable borrow of bank
 
-    // The bank fee account gains the origination fee
+    // The program and/or group fee account gains the origination fee
     {
         let mut bank = bank_loader.load_mut()?;
-        let bank_fees_before: I80F48 = bank.collected_group_fees_outstanding.into();
-        let bank_fees_after: I80F48 = if origination_fee.is_zero() {
-            bank_fees_before
-        } else {
-            bank_fees_before.saturating_add(origination_fee)
-        };
-        bank.collected_group_fees_outstanding = bank_fees_after.into();
+
+        if !origination_fee.is_zero() {
+            let mut bank_fees_after: I80F48 = bank.collected_group_fees_outstanding.into();
+
+            if !program_fee_rate.is_zero() {
+                // Some portion of the origination fee to goes to program fees
+                let program_fee_amount: I80F48 = origination_fee
+                    .checked_mul(program_fee_rate)
+                    .ok_or_else(math_error!())?;
+                // The remainder of the origination fee go to group fees
+                bank_fees_after = bank_fees_after
+                    .saturating_add(origination_fee.saturating_sub(program_fee_amount));
+
+                // Update the bank's program fees
+                let program_fees_before: I80F48 = bank.collected_program_fees_outstanding.into();
+                bank.collected_program_fees_outstanding = program_fees_before
+                    .saturating_add(program_fee_amount)
+                    .into();
+            } else {
+                // If program fee rate is zero, add the full origination fee to group fees
+                bank_fees_after = bank_fees_after.saturating_add(origination_fee);
+            }
+
+            // Update the bank's group fees
+            bank.collected_group_fees_outstanding = bank_fees_after.into();
+        }
     }
 
     // Check account health, if below threshold fail transaction

programs/marginfi/tests/user_actions/borrow.rs

@@ -79,18 +79,16 @@ async fn marginfi_account_borrow_success(
     // -------------------------------------------------------------------------
 
     let debt_bank_f = test_f.get_bank(&debt_mint);
+    let bank_before = debt_bank_f.load().await;
 
     let pre_vault_balance = debt_bank_f
         .get_vault_token_account(BankVaultType::Liquidity)
         .await
         .balance()
         .await;
     let pre_user_debt_accounted = I80F48::ZERO;
-    let pre_fee_balance: I80F48 = debt_bank_f
-        .load()
-        .await
-        .collected_group_fees_outstanding
-        .into();
+    let pre_fee_group_fees: I80F48 = bank_before.collected_group_fees_outstanding.into();
+    let pre_fee_program_fees: I80F48 = bank_before.collected_program_fees_outstanding.into();
 
     let res = user_mfi_account_f
         .try_bank_borrow(user_debt_token_account_f.key, debt_bank_f, borrow_amount)
@@ -107,9 +105,7 @@ async fn marginfi_account_borrow_success(
         .lending_account
         .get_balance(&debt_bank_f.key)
         .unwrap();
-    let post_user_debt_accounted = debt_bank_f
-        .load()
-        .await
+    let post_user_debt_accounted = bank_before
         .get_asset_amount(balance.liability_shares.into())
         .unwrap();
 
@@ -125,16 +121,23 @@ async fn marginfi_account_borrow_success(
         })
         .unwrap_or(0);
     let borrow_amount_pre_fee = borrow_amount_native + borrow_fee;
-    let origination_fee_rate: I80F48 = debt_bank_f
-        .load() // ?? could optimize load calls in this test?
-        .await
+    let origination_fee_rate: I80F48 = bank_before
         .config
         .interest_rate_config
         .protocol_origination_fee
         .into();
+    let program_fee_rate: I80F48 = test_f
+        .marginfi_group
+        .load()
+        .await
+        .fee_state_cache
+        .program_fee_rate
+        .into();
     let origination_fee: I80F48 = I80F48::from_num(borrow_amount_native)
         .checked_mul(origination_fee_rate)
         .unwrap();
+    let program_origination_fee: I80F48 = origination_fee.checked_mul(program_fee_rate).unwrap();
+    let group_origination_fee: I80F48 = origination_fee.saturating_sub(program_origination_fee);
 
     let active_balance_count = marginfi_account
         .lending_account
@@ -157,12 +160,18 @@ async fn marginfi_account_borrow_success(
     );
 
     // The outstanding origination fee is recorded
-    let post_fee_balance: I80F48 = debt_bank_f
-        .load()
-        .await
-        .collected_group_fees_outstanding
-        .into();
-    assert_eq!(pre_fee_balance + origination_fee, post_fee_balance);
+    let bank_after = debt_bank_f.load().await;
+    let post_fee_program_fees: I80F48 = bank_after.collected_program_fees_outstanding.into();
+    assert_eq!(
+        pre_fee_program_fees + program_origination_fee,
+        post_fee_program_fees
+    );
+
+    let post_fee_group_fees: I80F48 = bank_after.collected_group_fees_outstanding.into();
+    assert_eq!(
+        pre_fee_group_fees + group_origination_fee,
+        post_fee_group_fees
+    );
 
     Ok(())
 }