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| 1 | +# Drift Protocol Mainnet Spot Markets Research |
| 2 | + |
| 3 | +**Date:** 2025-11-08 |
| 4 | +**Purpose:** Identify viable Drift spot markets for marginfi integration |
| 5 | + |
| 6 | +## Summary |
| 7 | + |
| 8 | +Successfully fetched **61 Drift spot markets** from mainnet. Below are the top candidates for marginfi drift integration. |
| 9 | + |
| 10 | +## Key Findings |
| 11 | + |
| 12 | +### Token-2022 Assets (5 total) |
| 13 | +These are particularly interesting as they demonstrate Token-2022 program compatibility: |
| 14 | + |
| 15 | +1. **PYUSD** (PayPal USD) |
| 16 | + - Market Index: 10500 |
| 17 | + - Mint: `2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo` |
| 18 | + - Oracle: `5QZMnsyndmphvZF4BNgoMHwVZaREXeE2rpBoCPMxgCCd` |
| 19 | + - Token Program: Token-2022 |
| 20 | + - **Recommended**: Yes - major stablecoin on Token-2022 |
| 21 | + |
| 22 | +2. **AUSD** (Agora USD) |
| 23 | + - Market Index: 10500 |
| 24 | + - Mint: `AUSD1jCcCyPLybk1YnvPWsHQSrZ46dxwoMniN4N2UEB9` |
| 25 | + - Oracle: `9JYpqJfLXgrW8Wqzfd93GvJF73m2jJFjNqpQv3wQtehZ` |
| 26 | + - Token Program: Token-2022 |
| 27 | + - **Recommended**: Maybe - newer stablecoin |
| 28 | + |
| 29 | +3. **PUMP** |
| 30 | + - Market Index: 13000 |
| 31 | + - Mint: `pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn` |
| 32 | + - Oracle: `5r8RWTaRiMgr9Lph3FTUE3sGb1vymhpCrm83Bovjfcps` |
| 33 | + - Token Program: Token-2022 |
| 34 | + - **Recommended**: Maybe - meme coin, higher risk |
| 35 | + |
| 36 | +4. **AI16Z** |
| 37 | + - Market Index: 15000 |
| 38 | + - Mint: `HeLp6NuQkmYB4pYWo2zYs22mESHXPQYzXbB8n4V98jwC` |
| 39 | + - Oracle: `3BGheQVvYtBNpBKSUXSTjpyKQc3dh8iiwT91Aiq7KYCU` |
| 40 | + - Token Program: Token-2022 |
| 41 | + - **Recommended**: Maybe - AI meme coin |
| 42 | + |
| 43 | +5. **sACRED-4** |
| 44 | + - Market Index: 10500 |
| 45 | + - Mint: `59CwZq5b6drmDizgGfxECG7f16hxDpG1nXrxPoQx4y8g` |
| 46 | + - Oracle: `GheMfcCB49SuVCWrFReQDD2tLkcPDMG3qZEZWU44mHu` |
| 47 | + - Token Program: Token-2022 |
| 48 | + |
| 49 | +## Top 10 Recommended Candidates for Integration |
| 50 | + |
| 51 | +### 1. USDC (Native) |
| 52 | +- **Market Index:** 10000 |
| 53 | +- **Mint:** `EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v` |
| 54 | +- **Oracle:** `9VCioxmni2gDLv11qufWzT3RDERhQE4iY5Gf7NTfYyAV` |
| 55 | +- **Decimals:** 6 |
| 56 | +- **Token Program:** SPL Token |
| 57 | +- **Drift Spot Market:** `6gMq3mRCKf8aP3ttTyYhuijVZ2LGi14oDsBbkgubfLB3` |
| 58 | +- **Priority:** HIGH - Core stablecoin |
| 59 | + |
| 60 | +### 2. SOL (Native) |
| 61 | +- **Market Index:** 11000 |
| 62 | +- **Mint:** `So11111111111111111111111111111111111111112` |
| 63 | +- **Oracle:** `3m6i4RFWEDw2Ft4tFHPJtYgmpPe21k56M3FHeWYrgGBz` |
| 64 | +- **Decimals:** 9 |
| 65 | +- **Token Program:** SPL Token |
| 66 | +- **Drift Spot Market:** `3x85u7SWkmmr7YQGYhtjARgxwegTLJgkSLRprfXod6rh` |
| 67 | +- **Priority:** HIGH - Native SOL |
| 68 | + |
| 69 | +### 3. PYUSD (Token-2022) |
| 70 | +- **Market Index:** 10500 |
| 71 | +- **Mint:** `2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo` |
| 72 | +- **Oracle:** `5QZMnsyndmphvZF4BNgoMHwVZaREXeE2rpBoCPMxgCCd` |
| 73 | +- **Decimals:** 6 |
| 74 | +- **Token Program:** Token-2022 |
| 75 | +- **Drift Spot Market:** `GyyHYVCrZGc2AQPuvNbcP1babmU3L42ptmxZthUfD9q` |
| 76 | +- **Priority:** HIGH - Token-2022 stablecoin, PayPal backed |
| 77 | + |
| 78 | +### 4. jitoSOL (LST) |
| 79 | +- **Market Index:** 11000 |
| 80 | +- **Mint:** `J1toso1uCk3RLmjorhTtrVwY9HJ7X8V9yYac6Y7kGCPn` |
| 81 | +- **Oracle:** `2cHCtAkMnttMh3bNKSCgSKSP5D4yN3p8bfnMdS3VZsDf` |
| 82 | +- **Decimals:** 9 |
| 83 | +- **Token Program:** SPL Token |
| 84 | +- **Drift Spot Market:** `6Aq7WBtsZVyumcRxpAoKNyWb97gAzp3be2LeQ9yE6SVX` |
| 85 | +- **Priority:** HIGH - Popular LST with rewards |
| 86 | + |
| 87 | +### 5. mSOL (LST) |
| 88 | +- **Market Index:** 11000 |
| 89 | +- **Mint:** `mSoLzYCxHdYgdzU16g5QSh3i5K3z3KZK7ytfqcJm7So` |
| 90 | +- **Oracle:** `FY2JMi1vYz1uayVT2GJ96ysZgpagjhdPRG2upNPtSZsC` |
| 91 | +- **Decimals:** 9 |
| 92 | +- **Token Program:** SPL Token |
| 93 | +- **Drift Spot Market:** `Mr2XZwj1NisUur3WZWdERdqnEUMoa9F9pUr52vqHyqj` |
| 94 | +- **Priority:** HIGH - Marinade LST |
| 95 | + |
| 96 | +### 6. bSOL (LST) |
| 97 | +- **Market Index:** 11000 |
| 98 | +- **Mint:** `bSo13r4TkiE4KumL71LsHTPpL2euBYLFx6h9HP3piy1` |
| 99 | +- **Oracle:** `BmDWPMsytWmYkh9n6o7m79eVshVYf2B5GVaqQ2EWKnGH` |
| 100 | +- **Decimals:** 9 |
| 101 | +- **Token Program:** SPL Token |
| 102 | +- **Drift Spot Market:** `3fy2oMRJGceC3GAt9zGUBWt8MzjV5XxQDWKYLtiHPevX` |
| 103 | +- **Priority:** MEDIUM - Blaze LST |
| 104 | + |
| 105 | +### 7. JLP (Jupiter LP Token) |
| 106 | +- **Market Index:** 11000 |
| 107 | +- **Mint:** `27G8MtK7VtTcCHkpASjSDdkWWYfoqT6ggEuKidVJidD4` |
| 108 | +- **Oracle:** `4VMtKepA6iFwMTJ7bBbdcGxavNRKiDjxxRr1CaB2NnFJ` |
| 109 | +- **Decimals:** 6 |
| 110 | +- **Token Program:** SPL Token |
| 111 | +- **Drift Spot Market:** `DVYXHwLhwALZm94pChALZDJ2b6a7uZTKPXntAGMQtRoM` |
| 112 | +- **Priority:** MEDIUM - Popular LP token |
| 113 | + |
| 114 | +### 8. USDT |
| 115 | +- **Market Index:** 10250 |
| 116 | +- **Mint:** `Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB` |
| 117 | +- **Oracle:** `JDKJSkxjasBGL3ce1pkrN6tqDzuVUZPWzzkGuyX8m9yN` |
| 118 | +- **Decimals:** 6 |
| 119 | +- **Token Program:** SPL Token |
| 120 | +- **Drift Spot Market:** `7pPeeTqcqYeED7k4ocdeaSx3MAwT56Y7khyCx1zfS8jM` |
| 121 | +- **Priority:** HIGH - Major stablecoin |
| 122 | + |
| 123 | +### 9. wBTC (Wrapped Bitcoin) |
| 124 | +- **Market Index:** 11000 |
| 125 | +- **Mint:** `3NZ9JMVBmGAqocybic2c7LQCJScmgsAZ6vQqTDzcqmJh` |
| 126 | +- **Oracle:** `fqPfDa6uQr9ndMvwaFp4mUBeUrHmLop8Jxfb1XJNmVm` |
| 127 | +- **Decimals:** 8 |
| 128 | +- **Token Program:** SPL Token |
| 129 | +- **Drift Spot Market:** `54Ai4NTZmPgsT4kUr1w4zFbh33JaC34ptvvvByamsaSw` |
| 130 | +- **Priority:** MEDIUM - BTC exposure |
| 131 | + |
| 132 | +### 10. wETH (Wrapped Ethereum) |
| 133 | +- **Market Index:** 11000 |
| 134 | +- **Mint:** `7vfCXTUXx5WJV5JADk17DUJ4ksgau7utNKj4b963voxs` |
| 135 | +- **Oracle:** `6bEp2MiyoiiiDxcVqE8rUHQWwHirXUXtKfAEATTVqNzT` |
| 136 | +- **Decimals:** 8 |
| 137 | +- **Token Program:** SPL Token |
| 138 | +- **Drift Spot Market:** `64WtBLXJsFnmoFR2kXqbTz3KzNP5x1SrpSn8zmkbF6xB` |
| 139 | +- **Priority:** MEDIUM - ETH exposure |
| 140 | + |
| 141 | +## Additional Notable Markets |
| 142 | + |
| 143 | +### 2Z Token |
| 144 | +- **Market Index:** 13000 |
| 145 | +- **Mint:** `J6pQQ3FAcJQeWPPGppWRb4nM8jU3wLyYbRrLh7feMfvd` |
| 146 | +- **Oracle:** `4HTDpcHAwBTHCJLNMwT35w4FGc4nfA4YhT1BkcZQwQ2m` |
| 147 | +- **Decimals:** 9 |
| 148 | +- **Token Program:** SPL Token |
| 149 | +- **Drift Spot Market:** `8h4B1tfDseHKhSdcywsj9QMpZe5LEV5uWGYUaBtNcTns` |
| 150 | +- **Priority:** MEDIUM - Similar to our PUMP/2Z addition |
| 151 | + |
| 152 | +### JUP (Jupiter) |
| 153 | +- **Market Index:** 12500 |
| 154 | +- **Mint:** `JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN` |
| 155 | +- **Oracle:** `DXqKSHyhTBKEW4qgnL7ycbf3Jca5hCvUgWHFYWsh4KJa` |
| 156 | +- **Decimals:** 6 |
| 157 | +- **Token Program:** SPL Token |
| 158 | +- **Drift Spot Market:** `7GGF99Et8AN8bjKug9nh6BJAQ3LKSziD2ceCps89zvQa` |
| 159 | +- **Priority:** MEDIUM - Major DEX token |
| 160 | + |
| 161 | +### WIF (Dogwifhat) |
| 162 | +- **Market Index:** 14000 |
| 163 | +- **Mint:** `EKpQGSJtjMFqKZ9KQanSqYXRcF8fBopzLHYxdM65zcjm` |
| 164 | +- **Oracle:** `4QXWStoyEErTZFVsvKrvxuNa6QT8zpeA8jddZunSGvYE` |
| 165 | +- **Decimals:** 6 |
| 166 | +- **Token Program:** SPL Token |
| 167 | +- **Drift Spot Market:** `GyhmatSvGuo5nwPMLwH7CELGfDL8hLH4KSzRZj64whk2` |
| 168 | +- **Priority:** LOW - Meme coin |
| 169 | + |
| 170 | +### Bonk |
| 171 | +- **Market Index:** 14000 |
| 172 | +- **Mint:** `DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263` |
| 173 | +- **Oracle:** `BERaNi6cpEresbq6HC1EQGaB1H1UjvEo4NGnmYSSJof4` |
| 174 | +- **Decimals:** 5 |
| 175 | +- **Token Program:** SPL Token |
| 176 | +- **Drift Spot Market:** `7AJ4HcUkTLJimx5Q5NSoGrQ3ffm83Sh55fr5iavUJHJV` |
| 177 | +- **Priority:** LOW - Meme coin |
| 178 | + |
| 179 | +## Oracle Type Information |
| 180 | + |
| 181 | +**Important:** All Drift oracles need to be verified for their oracle type. The marginfi drift integration expects **Pyth Pull** oracles specifically. |
| 182 | + |
| 183 | +To verify oracle type, we need to: |
| 184 | +1. Check the Drift spot market account's `oracle_source` field |
| 185 | +2. Ensure it's set to `PythPull` variant |
| 186 | +3. Get the oracle address from Drift's configuration |
| 187 | + |
| 188 | +The oracles listed above are Drift's oracle accounts. For marginfi integration, we need to: |
| 189 | +- Use Drift's oracle address in the `driftOracle` config field |
| 190 | +- Separately specify the Pyth Pull oracle address in the `oracle` config field |
| 191 | + |
| 192 | +## Next Steps |
| 193 | + |
| 194 | +1. **Verify Oracle Types**: Check each oracle to ensure it's Pyth Pull compatible |
| 195 | +2. **Check Token Mint Decimals**: The decimal values in the research may be off by factor (need to verify actual mint decimals) |
| 196 | +3. **Create Config Files**: For each candidate, create a config file in `/root/projects/mrgn-ts-scripts/scripts/drift-staging/configs/` |
| 197 | +4. **Test Integration**: Start with USDC and SOL as they're the most straightforward |
| 198 | +5. **Add Token-2022 Support**: PYUSD is a great candidate to test Token-2022 compatibility |
| 199 | + |
| 200 | +## Config File Template |
| 201 | + |
| 202 | +Based on `/root/projects/mrgn-ts-scripts/scripts/drift-staging/configs/example.json`: |
| 203 | + |
| 204 | +```json |
| 205 | +{ |
| 206 | + "programId": "STAGING_PROGRAM_ID_HERE", |
| 207 | + "group": "GROUP_PUBKEY_HERE", |
| 208 | + "bankMint": "MINT_PUBKEY_HERE", |
| 209 | + "driftMarketIndex": 0, |
| 210 | + "oracle": "PYTH_PULL_ORACLE_PUBKEY", |
| 211 | + "driftOracle": "DRIFT_ORACLE_PUBKEY", |
| 212 | + "depositLimit": "100000000000000", |
| 213 | + "totalAssetValueInitLimit": "10000000000000", |
| 214 | + "seed": "555", |
| 215 | + "initDepositAmount": "100" |
| 216 | +} |
| 217 | +``` |
| 218 | + |
| 219 | +## Drift Program Information |
| 220 | + |
| 221 | +- **Drift Program ID:** `dRiftyHA39MWEi3m9aunc5MzRF1JYuBsbn6VPcn33UH` |
| 222 | +- **Total Spot Markets:** 61 |
| 223 | +- **Network:** Mainnet |
| 224 | +- **RPC:** `https://rpc.ironforge.network/mainnet?apiKey=01JSM3YXH7YWNSDTPDKVSR85QN` |
| 225 | + |
| 226 | +## Research Script Location |
| 227 | + |
| 228 | +- Main script: `/root/projects/mrgn-ts-scripts/scripts/drift-staging/research_drift_markets_simple.ts` |
| 229 | +- Output: `/tmp/drift_markets_research.txt` |
| 230 | + |
| 231 | +## Notes |
| 232 | + |
| 233 | +1. **Decimals Verification Needed**: The decimal values extracted from Drift's SpotMarket accounts appear incorrect (showing market_index values). Need to verify actual mint decimals from token mint accounts. |
| 234 | + |
| 235 | +2. **Multiple Market Instances**: Some assets have multiple market indices (e.g., USDC, jitoSOL, JTO). This could indicate: |
| 236 | + - Different pool configurations |
| 237 | + - Historical markets |
| 238 | + - Different trading pairs |
| 239 | + - Need to investigate which is the primary/active market |
| 240 | + |
| 241 | +3. **Oracle Source**: Need to determine oracle type (Pyth, Pyth Pull, Switchboard) for each market to ensure compatibility with marginfi's integration. |
| 242 | + |
| 243 | +4. **Liquidity & Volume**: Should check on-chain data or Drift's UI for actual liquidity and trading volume before selecting markets. |
| 244 | + |
| 245 | +5. **Token-2022 Opportunities**: The 5 Token-2022 assets found are excellent candidates for testing Token-2022 program compatibility, especially PYUSD as a major stablecoin. |
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