Percolator Rewards Program

Solana program that adds staking vault rewards to Percolator markets, governed by MetaDAO futarchy.

Overview

• Staking vault: Users deposit collateral into a per-market vault to earn COIN rewards over time (Synthetix-style accumulator)
• Governance-gated minting: The DAO can vote to mint COIN to any destination (e.g., rewarding best-performing LPs identified off-chain)
• COIN token: Minted exclusively by this program via a PDA mint authority. Shared across all markets managed by the same DAO
• No admin keys: All governance actions are futarchy-gated. Market admin is burned at creation. The program is deployed non-upgradeable

Design Constraints

1. No admin keys, no multisigs, no off-chain publishers
2. Everything governance-like is futarchy-gated by a MetaDAO proposal marked executed=true
3. User funds are never at risk from futarchy: no futarchy-triggerable instruction may transfer, freeze, confiscate, or redirect user balances
4. The DAO may stake and claim COIN rewards like any user, but cannot claim other users' staked collateral

Instructions

Tag	Instruction	Description
0	init_market_rewards	Create per-market reward config + staking vault (requires CoinConfig authority)
1	stake	Deposit collateral to vault, earn COIN over time
2	unstake	Withdraw collateral + claim pending COIN (lockup enforced)
3	init_coin_config	One-time setup of COIN mint authority config
4	claim_stake_rewards	Harvest pending COIN without unstaking (no lockup check)
5	mint_reward	Governance-gated: mint COIN to any destination (requires CoinConfig authority)

Accounts

Account	PDA Seeds	Description
CoinConfig	[b"coin_cfg", coin_mint]	Authority that can register new markets and mint rewards
MarketRewardsCfg	[b"mrc", market_slab]	Per-market reward parameters and accumulator state
StakePosition	[b"sp", market_slab, user]	Per-user staking position
Stake Vault	[b"stake_vault", market_slab]	SPL token account holding staked collateral
Mint Authority	[b"coin_mint_authority", coin_mint]	PDA that signs COIN mints

Dependencies

• percolator-prog — Percolator Solana program (provides state::read_market_start_slot)

Building

cargo build-sbf --manifest-path program/Cargo.toml

Testing

Requires the percolator-prog BPF binary to be built first:

cd ../percolator-prog && cargo build-sbf
cd ../percolator-meta
RUST_MIN_STACK=8388608 cargo test --test integration

The RUST_MIN_STACK=8MB is required due to Percolator's >1MB RiskEngine stack size.

Spec

See spec.md for the full design specification, reward math, market creation flow, and audit checklist.