> ## Documentation Index
> Fetch the complete documentation index at: https://docs.trusset.org/llms.txt
> Use this file to discover all available pages before exploring further.

# Update Market Config

> Set the on-chain risk parameters for a market

Writes the market's full `config` struct. Every field is required on every call, so read the current values with [Get Market Config](/endpoints/lending/get-config) first and send them back with your changes applied. Partial updates are not supported: an omitted field fails validation rather than retaining its current value.

Requires `ISSUER_ROLE` on the market contract.

<Warning>
  Changing `liquidationThreshold` moves the point at which existing loans become liquidatable. Raising it immediately puts loans at risk that were healthy a moment earlier. The contract caps each change at 10 percent per call.
</Warning>

## Path Parameters

<ParamField path="marketId" type="string" required>Market ID.</ParamField>

## Body Parameters

<ParamField body="config" type="object" required>
  <Expandable>
    <ParamField body="collateralFactor" type="integer" required>Maximum loan to value in basis points. 1000 to 9500.</ParamField>
    <ParamField body="liquidationThreshold" type="integer" required>Liquidation trigger in basis points. 1000 to 9800. Must exceed `collateralFactor` to leave borrowers any buffer.</ParamField>
    <ParamField body="liquidationPenalty" type="integer" required>Penalty on liquidated debt in basis points. 0 to 5000.</ParamField>
    <ParamField body="protocolFeeRate" type="integer" required>Issuer share of accrued interest in basis points. 0 to 10000.</ParamField>
    <ParamField body="minBorrowAmount" type="string" required>Minimum borrow per loan, as a decimal string in borrow asset units.</ParamField>
    <ParamField body="closeFactor" type="integer" required>Maximum fraction of a loan's debt repayable in one liquidation, in basis points. 1000 to 5000.</ParamField>
    <ParamField body="maxTotalCollateral" type="string" required>Global collateral cap as a decimal string in collateral token units. `"0"` means uncapped.</ParamField>
    <ParamField body="maxUserCollateral" type="string" required>Per-borrower collateral cap as a decimal string in collateral token units. `"0"` means uncapped.</ParamField>
    <ParamField body="useDutchAuction" type="boolean" required>Whether liquidations open a Dutch auction. Rejected on-chain when the market's `priceSource` is `MARKET`.</ParamField>
    <ParamField body="auctionDuration" type="integer" required>Auction length in seconds. 600 to 86400.</ParamField>
    <ParamField body="auctionStartPremium" type="integer" required>Opening price multiplier in basis points. 10000 to 20000, where 10000 is oracle price.</ParamField>
    <ParamField body="auctionMinPremium" type="integer" required>Floor price multiplier in basis points. 8000 to 10000. Floored at 9800 on-chain when `priceSource` is `MARKET`.</ParamField>
  </Expandable>
</ParamField>

<ParamField body="txHash" type="string">
  Hash of the transaction you broadcast for this operation. Send it to confirm the transaction and record the result. Omit it to receive the calldata.
</ParamField>

<Note>
  `maxPriceAge` is not part of this struct. It is an oracle setting, not a market setting, and it is read from [Get Oracle Status](/endpoints/lending/get-oracle-status) rather than written here. It still interacts directly with your NAV publication cadence. A fund that publishes NAV daily needs `maxPriceAge` above 86400 seconds, or every loan action will revert against a stale price between publications.
</Note>

## Bounds the contract adds

The per-field ranges above are what the request schema accepts. The contract is stricter on four of them, and the API mirrors those rules so no signature is asked for a tuple that would revert with a bare selector.

| Rule                                                                                  | Refused with     |
| ------------------------------------------------------------------------------------- | ---------------- |
| `collateralFactor` at most 9000, whatever the schema allows                           | `INVALID_CONFIG` |
| `liquidationThreshold` at most 9500, whatever the schema allows                       | `INVALID_CONFIG` |
| `liquidationThreshold` strictly greater than `collateralFactor`                       | `INVALID_CONFIG` |
| `auctionStartPremium` strictly greater than `auctionMinPremium`, when auctions are on | `INVALID_CONFIG` |

A market that runs loan terms adds one more: `liquidationPenalty` cannot drop below the market's own `termPenalty`. Lower the term penalty first.

A market whose `priceSource` is `MARKET` cannot run Dutch auctions at all, and needs an `auctionMinPremium` of at least 9800. Turning auctions on there is refused with `AUCTION_UNSUPPORTED_PRICE_SOURCE`.

<Warning>
  Turning `useDutchAuction` off withdraws the market from the public feed in the same write. Auctions are what makes a realization publicly actionable, so a market without them would otherwise keep advertising a participation route that no longer exists. The confirm response reports it as `publicListingWithdrawn`.
</Warning>

## Response Fields

<ResponseField name="data" type="object">
  <Expandable>
    <ResponseField name="action" type="string">`SIGN_TRANSACTION`. Returned when `txHash` is omitted.</ResponseField>
    <ResponseField name="transaction" type="object">Unsigned transaction for the `setConfig` call. Returned when `txHash` is omitted.</ResponseField>
    <ResponseField name="functionName" type="string">`setConfig`. Returned when `txHash` is omitted.</ResponseField>
    <ResponseField name="requiredRole" type="string">Role the signing wallet must hold on the market.</ResponseField>
    <ResponseField name="heldByThisInstance" type="boolean">Whether a verified wallet of your instance holds that role. When `false`, the transaction has to be signed by another party.</ResponseField>
    <ResponseField name="signerAddress" type="string">The wallet the role check ran against.</ResponseField>
    <ResponseField name="txHash" type="string">Transaction hash. Returned when confirming.</ResponseField>
    <ResponseField name="publicListingWithdrawn" type="boolean">`true` when this write took the market off the public feed because Dutch auctions were turned off. Returned when confirming.</ResponseField>
  </Expandable>
</ResponseField>

<RequestExample>
  ```bash cURL theme={null}
  curl -X POST "https://api.trusset.org/lending-external-securities/api/markets/{marketId}/config" \
    -H "X-API-Key: trusset_your_key_here" \
    -H "Content-Type: application/json" \
    -d '{
      "config": {
        "collateralFactor": 7000,
        "liquidationThreshold": 8000,
        "liquidationPenalty": 500,
        "protocolFeeRate": 2500,
        "minBorrowAmount": "1000",
        "closeFactor": 5000,
        "maxTotalCollateral": "0",
        "maxUserCollateral": "0",
        "useDutchAuction": false,
        "auctionDuration": 3600,
        "auctionStartPremium": 13000,
        "auctionMinPremium": 9500
      }
    }'
  ```
</RequestExample>

<ResponseExample>
  ```json Calldata Response theme={null}
  {
    "success": true,
    "data": {
      "action": "SIGN_TRANSACTION",
      "transaction": { "to": "0x70A0...", "data": "0x..." }
    }
  }
  ```

  ```json Confirmed Response theme={null}
  {
    "success": true,
    "data": {
      "txHash": "0xabc...def",
      "publicListingWithdrawn": false
    }
  }
  ```

  ```json Error - Update Failed theme={null}
  {
    "success": false,
    "error": {
      "code": "CONFIG_UPDATE_FAILED",
      "message": "execution reverted: ThresholdChangeTooLarge"
    }
  }
  ```

  ```json Error - Validation theme={null}
  {
    "success": false,
    "error": {
      "code": "VALIDATION_ERROR",
      "message": "Invalid request parameters",
      "details": [
        { "field": "config.collateralFactor", "message": "Number must be less than or equal to 9500" }
      ]
    }
  }
  ```
</ResponseExample>

## Error Codes

| Code                               | HTTP  | Cause                                                                                                                              |
| ---------------------------------- | ----- | ---------------------------------------------------------------------------------------------------------------------------------- |
| `NO_MARKET_ADDRESS`                | `400` | The market has no on-chain address recorded                                                                                        |
| `VALIDATION_ERROR`                 | `400` | A `config` field is outside its accepted range. `error.details` names each offending field                                         |
| `INVALID_CONFIG`                   | `400` | A cross-field rule the contract enforces was broken. The message names which one                                                   |
| `AUCTION_UNSUPPORTED_PRICE_SOURCE` | `400` | Dutch auctions were turned on for a market whose `priceSource` is `MARKET`                                                         |
| `CONFIG_UPDATE_FAILED`             | `400` | The confirmed transaction could not be verified against this market                                                                |
| `MARKET_NOT_FOUND`                 | `404` | No market with this ID on your instance                                                                                            |
| `MARKET_PENDING_CURATOR`           | `409` | The market has no lender of record yet, so nobody holds the admin role this change requires. Skipped when confirming with `txHash` |