Admin Instructions

Source: instructions/admin/{protocol,assets,reserves,integrations}.rs.

Protocol

Instruction	Purpose
`initialize_protocol(treasury, max_assets_per_margin, max_debts_per_margin, max_venues_per_margin)`	Once. Must be signed by the program’s upgrade authority (checked against its program data account)
`admin_set_margin_limits(max_assets, max_debts, max_venues)`	Change the per-margin limits
`admin_propose_authority(new_admin)` / `authority_accept_admin`	Two-step admin handover
`admin_set_operating_mode(mode)`	`Normal`, `BorrowPaused`, `WithdrawOnly`, or `Halted`

The allowed-token list may hold at most max_assets_per_margin minus the debt and venue limits. That way, allowing a token never stops borrowing, and a liquidation always fits in one transaction.

Operating modes

Mode	Allowed
`Normal` (0)	Everything
`BorrowPaused` (1)	Everything except borrow
`WithdrawOnly` (2)	Repay, redeem, collateral deposit and withdraw, `margin_execute`, liquidate, write-off
`Halted` (3)	Repay and collateral deposit only

Assets and venues

Instruction	Purpose
`admin_register_asset(max_collateral_per_margin, ltv_bps, liquidation_threshold_bps, liquidation_bonus_bps, collateral_enabled, borrow_enabled, accept_issuer_controls)`	Create `AssetConfig ["asset", mint]`. Names the oracle, has it price the token once, screens the mint. A collateral-enabled token joins the allowed list
`admin_update_asset_config(…)`	Same risk fields after listing
`admin_set_asset_oracle`	Re-point the asset at its oracle
`admin_set_token_allowed(allowed)`	Add or remove a token from the allowed list. Removing zeroes its value immediately
`admin_register_venue(venue)`	Create a venue-kind `AssetConfig ["asset", venue]` (for Phoenix, the exchange account). Venues can’t be borrowed or transferred

Risk parameters are validated: ltv < liquidation_threshold ≤ 100%, bonus at most 5%, and threshold × (1 + bonus) ≤ 100%. Issuer controls. A mint whose issuer keeps power over balances or value needs accept_issuer_controls = true. That covers a freeze authority, a close authority, a transfer-fee, interest-rate or scaled-UI authority, a permanent delegate, pausing, or a settable transfer hook. Fixed transfer fees, metadata, groups and confidential transfers need nothing. A live transfer hook, non-transferable mints, accounts created frozen and unknown extensions are refused. A token allowed again is screened again, and must keep its token program and decimals.

Reserves

Instruction	Purpose
`admin_initialize_reserve(rate_curve, reserve_factor_bps, supply_cap, borrow_cap, status)`	Create `Reserve`, its liquidity vault (idempotent ATA) and share mint
`admin_update_reserve_config(…)`	Same fields
`admin_collect_protocol_fees(amount)`	Sweep up to `accrued_protocol_fees` to the treasury

Reserve status: Active (0), SupplyOnly (1), RepayOnly (2), Frozen (3). Borrowing needs Active. Supply needs Active or SupplyOnly. Redeem is blocked only when Frozen. Repay is always allowed. The configured pools are USDC, USDT and SOL. The bootstrap scripts refuse to initialize a reserve for any other asset.

Integrations

Instruction	Purpose
`admin_register_integration`	Create `Integration ["integration", program_id]` binding an external program to its validator. The target can’t be the core or the validator itself
`admin_set_integration_validator`	Re-point an integration at a new validator
`admin_set_integration_enabled(enabled)`	Switch an integration on or off

Oracle admin

The oracle’s price book and market book are configured through vanna_oracle instructions, gated by the core protocol admin. See Oracle Program.

Solana · Introduction

Contract Reference

TypeScript Integration

Integration Guides

Admin Instructions

Protocol

Operating modes

Assets and venues

Reserves

Integrations

Oracle admin

​Protocol

​Operating modes

​Assets and venues

​Reserves

​Integrations

​Oracle admin

Protocol

Operating modes

Assets and venues

Reserves

Integrations

Oracle admin