mirror of
https://github.com/0glabs/0g-chain.git
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Hard: withdraws limited by ltv (#747)
* liquidations refactor * validate withdraws above ltv * set mm in initgenesis * add ltv limited withdraw test * address revisions * resolve diff
This commit is contained in:
Denali Marsh
GitHub
parent
a4bbea1ec4
commit
477b937039
@ -27,6 +27,10 @@ func InitGenesis(ctx sdk.Context, k Keeper, supplyKeeper types.SupplyKeeper, gs
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}
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}
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for _, mm := range gs.Params.MoneyMarkets {
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k.SetMoneyMarket(ctx, mm.Denom, mm)
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}
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// check if the module account exists
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LPModuleAcc := supplyKeeper.GetModuleAccount(ctx, LPAccount)
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if LPModuleAcc == nil {
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@ -91,11 +91,35 @@ func (k Keeper) Withdraw(ctx sdk.Context, depositor sdk.AccAddress, coins sdk.Co
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return sdkerrors.Wrapf(types.ErrDepositNotFound, "no deposit found for %s", depositor)
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}
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if !deposit.Amount.IsAllGTE(coins) { // TODO test that this works how I think it does
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return sdkerrors.Wrapf(types.ErrInvalidWithdrawAmount, "%s>%s", coins, deposit.Amount)
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// Get current stored LTV based on stored borrows/deposits
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prevLtv, shouldRemoveIndex, err := k.GetStoreLTV(ctx, depositor)
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if err != nil {
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return err
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}
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err := k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleAccountName, depositor, coins)
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k.SyncOutstandingInterest(ctx, depositor)
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borrow, found := k.GetBorrow(ctx, depositor)
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if !found {
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borrow = types.Borrow{}
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}
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proposedDepositAmount, isNegative := deposit.Amount.SafeSub(coins)
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if isNegative {
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return types.ErrNegativeBorrowedCoins
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}
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proposedDeposit := types.NewDeposit(deposit.Depositor, proposedDepositAmount)
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valid, err := k.IsWithinValidLtvRange(ctx, proposedDeposit, borrow)
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if err != nil {
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return err
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}
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if !valid {
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return sdkerrors.Wrapf(types.ErrInvalidWithdrawAmount, "proposed withdraw outside loan-to-value range")
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}
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err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleAccountName, depositor, coins)
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if err != nil {
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return err
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}
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@ -122,6 +146,8 @@ func (k Keeper) Withdraw(ctx sdk.Context, depositor sdk.AccAddress, coins sdk.Co
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deposit.Amount = deposit.Amount.Sub(coins)
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k.SetDeposit(ctx, deposit)
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k.UpdateItemInLtvIndex(ctx, prevLtv, shouldRemoveIndex, depositor)
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return nil
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}
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@ -1,7 +1,6 @@
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package keeper_test
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import (
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"fmt"
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"strings"
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"time"
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@ -267,7 +266,7 @@ func (suite *KeeperTestSuite) TestWithdraw() {
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},
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errArgs{
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expectPass: false,
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contains: "invalid withdrawal amount",
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contains: "subtraction results in negative borrow amount",
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},
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},
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{
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@ -284,7 +283,7 @@ func (suite *KeeperTestSuite) TestWithdraw() {
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},
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errArgs{
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expectPass: false,
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contains: "invalid withdrawal amount",
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contains: "subtraction results in negative borrow amount",
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},
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},
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}
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@ -310,10 +309,45 @@ func (suite *KeeperTestSuite) TestWithdraw() {
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types.MoneyMarkets{
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types.NewMoneyMarket("usdx", types.NewBorrowLimit(false, sdk.NewDec(1000000000000000), loanToValue), "usdx:usd", sdk.NewInt(1000000), sdk.NewInt(USDX_CF*1000), types.NewInterestRateModel(sdk.MustNewDecFromStr("0.05"), sdk.MustNewDecFromStr("2"), sdk.MustNewDecFromStr("0.8"), sdk.MustNewDecFromStr("10")), sdk.MustNewDecFromStr("0.05"), sdk.ZeroDec()),
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types.NewMoneyMarket("ukava", types.NewBorrowLimit(false, sdk.NewDec(1000000000000000), loanToValue), "kava:usd", sdk.NewInt(1000000), sdk.NewInt(KAVA_CF*1000), types.NewInterestRateModel(sdk.MustNewDecFromStr("0.05"), sdk.MustNewDecFromStr("2"), sdk.MustNewDecFromStr("0.8"), sdk.MustNewDecFromStr("10")), sdk.MustNewDecFromStr("0.05"), sdk.ZeroDec()),
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types.NewMoneyMarket("bnb", types.NewBorrowLimit(false, sdk.NewDec(1000000000000000), loanToValue), "bnb:usd", sdk.NewInt(100000000), sdk.NewInt(BNB_CF*1000), types.NewInterestRateModel(sdk.MustNewDecFromStr("0.05"), sdk.MustNewDecFromStr("2"), sdk.MustNewDecFromStr("0.8"), sdk.MustNewDecFromStr("10")), sdk.MustNewDecFromStr("0.05"), sdk.ZeroDec()),
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},
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0, // LTV counter
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), types.DefaultPreviousBlockTime, types.DefaultDistributionTimes)
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tApp.InitializeFromGenesisStates(authGS, app.GenesisState{types.ModuleName: types.ModuleCdc.MustMarshalJSON(hardGS)})
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// Pricefeed module genesis state
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pricefeedGS := pricefeed.GenesisState{
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Params: pricefeed.Params{
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Markets: []pricefeed.Market{
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{MarketID: "usdx:usd", BaseAsset: "usdx", QuoteAsset: "usd", Oracles: []sdk.AccAddress{}, Active: true},
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{MarketID: "kava:usd", BaseAsset: "kava", QuoteAsset: "usd", Oracles: []sdk.AccAddress{}, Active: true},
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{MarketID: "bnb:usd", BaseAsset: "bnb", QuoteAsset: "usd", Oracles: []sdk.AccAddress{}, Active: true},
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},
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},
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PostedPrices: []pricefeed.PostedPrice{
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{
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MarketID: "usdx:usd",
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OracleAddress: sdk.AccAddress{},
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Price: sdk.MustNewDecFromStr("1.00"),
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Expiry: time.Now().Add(100 * time.Hour),
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},
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{
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MarketID: "kava:usd",
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OracleAddress: sdk.AccAddress{},
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Price: sdk.MustNewDecFromStr("2.00"),
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Expiry: time.Now().Add(100 * time.Hour),
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},
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{
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MarketID: "bnb:usd",
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OracleAddress: sdk.AccAddress{},
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Price: sdk.MustNewDecFromStr("10.00"),
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Expiry: time.Now().Add(100 * time.Hour),
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},
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},
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}
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tApp.InitializeFromGenesisStates(authGS,
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app.GenesisState{pricefeed.ModuleName: pricefeed.ModuleCdc.MustMarshalJSON(pricefeedGS)},
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app.GenesisState{types.ModuleName: types.ModuleCdc.MustMarshalJSON(hardGS)})
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keeper := tApp.GetHardKeeper()
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suite.app = tApp
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suite.ctx = ctx
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@ -341,10 +375,181 @@ func (suite *KeeperTestSuite) TestWithdraw() {
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}
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} else {
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suite.Require().Error(err)
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fmt.Printf("%s\n", err.Error())
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suite.Require().True(strings.Contains(err.Error(), tc.errArgs.contains))
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}
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})
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}
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}
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func (suite *KeeperTestSuite) TestLtvWithdraw() {
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type args struct {
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borrower sdk.AccAddress
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keeper sdk.AccAddress
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initialModuleCoins sdk.Coins
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initialBorrowerCoins sdk.Coins
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initialKeeperCoins sdk.Coins
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depositCoins []sdk.Coin
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borrowCoins sdk.Coins
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futureTime int64
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}
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type errArgs struct {
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expectPass bool
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contains string
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}
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type liqTest struct {
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name string
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args args
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errArgs errArgs
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}
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// Set up test constants
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model := types.NewInterestRateModel(sdk.MustNewDecFromStr("0"), sdk.MustNewDecFromStr("0.1"), sdk.MustNewDecFromStr("0.8"), sdk.MustNewDecFromStr("0.5"))
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reserveFactor := sdk.MustNewDecFromStr("0.05")
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oneMonthInSeconds := int64(2592000)
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borrower := sdk.AccAddress(crypto.AddressHash([]byte("testborrower")))
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keeper := sdk.AccAddress(crypto.AddressHash([]byte("testkeeper")))
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testCases := []liqTest{
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{
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"invalid: withdraw is outside loan-to-value range",
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args{
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borrower: borrower,
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keeper: keeper,
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initialModuleCoins: sdk.NewCoins(sdk.NewCoin("ukava", sdk.NewInt(100*KAVA_CF))),
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initialBorrowerCoins: sdk.NewCoins(sdk.NewCoin("ukava", sdk.NewInt(100*KAVA_CF))),
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initialKeeperCoins: sdk.NewCoins(sdk.NewCoin("ukava", sdk.NewInt(100*KAVA_CF))),
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depositCoins: sdk.NewCoins(sdk.NewCoin("ukava", sdk.NewInt(10*KAVA_CF))),
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borrowCoins: sdk.NewCoins(sdk.NewCoin("ukava", sdk.NewInt(8*KAVA_CF))),
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futureTime: oneMonthInSeconds,
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},
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errArgs{
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expectPass: false,
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contains: "proposed withdraw outside loan-to-value range",
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},
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},
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}
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for _, tc := range testCases {
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suite.Run(tc.name, func() {
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// Initialize test app and set context
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tApp := app.NewTestApp()
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ctx := tApp.NewContext(true, abci.Header{Height: 1, Time: tmtime.Now()})
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// Auth module genesis state
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authGS := app.NewAuthGenState(
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[]sdk.AccAddress{tc.args.borrower, tc.args.keeper},
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[]sdk.Coins{tc.args.initialBorrowerCoins, tc.args.initialKeeperCoins},
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)
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// Harvest module genesis state
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harvestGS := types.NewGenesisState(types.NewParams(
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true,
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types.DistributionSchedules{
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types.NewDistributionSchedule(true, "ukava", time.Date(2020, 10, 8, 14, 0, 0, 0, time.UTC), time.Date(2020, 11, 22, 14, 0, 0, 0, time.UTC), sdk.NewCoin("hard", sdk.NewInt(5000)), time.Date(2021, 11, 22, 14, 0, 0, 0, time.UTC), types.Multipliers{types.NewMultiplier(types.Small, 0, sdk.MustNewDecFromStr("0.33")), types.NewMultiplier(types.Medium, 6, sdk.MustNewDecFromStr("0.5")), types.NewMultiplier(types.Medium, 24, sdk.OneDec())}),
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},
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types.DelegatorDistributionSchedules{types.NewDelegatorDistributionSchedule(
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types.NewDistributionSchedule(true, "usdx", time.Date(2020, 10, 8, 14, 0, 0, 0, time.UTC), time.Date(2025, 10, 8, 14, 0, 0, 0, time.UTC), sdk.NewCoin("hard", sdk.NewInt(500)), time.Date(2026, 10, 8, 14, 0, 0, 0, time.UTC), types.Multipliers{types.NewMultiplier(types.Small, 0, sdk.MustNewDecFromStr("0.33")), types.NewMultiplier(types.Medium, 6, sdk.MustNewDecFromStr("0.5")), types.NewMultiplier(types.Medium, 24, sdk.OneDec())}),
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time.Hour*24,
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),
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},
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types.MoneyMarkets{
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types.NewMoneyMarket("ukava",
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types.NewBorrowLimit(false, sdk.NewDec(100000000*KAVA_CF), sdk.MustNewDecFromStr("0.8")), // Borrow Limit
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"kava:usd", // Market ID
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sdk.NewInt(KAVA_CF), // Conversion Factor
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sdk.NewInt(100000000*KAVA_CF), // Auction Size
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model, // Interest Rate Model
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reserveFactor, // Reserve Factor
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sdk.MustNewDecFromStr("0.05")), // Keeper Reward Percent
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},
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0, // LTV counter
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), types.DefaultPreviousBlockTime, types.DefaultDistributionTimes)
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// Pricefeed module genesis state
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pricefeedGS := pricefeed.GenesisState{
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Params: pricefeed.Params{
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Markets: []pricefeed.Market{
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{MarketID: "usdx:usd", BaseAsset: "usdx", QuoteAsset: "usd", Oracles: []sdk.AccAddress{}, Active: true},
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{MarketID: "kava:usd", BaseAsset: "kava", QuoteAsset: "usd", Oracles: []sdk.AccAddress{}, Active: true},
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},
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},
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PostedPrices: []pricefeed.PostedPrice{
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{
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MarketID: "usdx:usd",
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OracleAddress: sdk.AccAddress{},
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Price: sdk.MustNewDecFromStr("1.00"),
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Expiry: time.Now().Add(100 * time.Hour),
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},
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{
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MarketID: "kava:usd",
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OracleAddress: sdk.AccAddress{},
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Price: sdk.MustNewDecFromStr("2.00"),
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Expiry: time.Now().Add(100 * time.Hour),
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},
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},
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}
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// Initialize test application
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tApp.InitializeFromGenesisStates(authGS,
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app.GenesisState{pricefeed.ModuleName: pricefeed.ModuleCdc.MustMarshalJSON(pricefeedGS)},
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app.GenesisState{types.ModuleName: types.ModuleCdc.MustMarshalJSON(harvestGS)})
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// Mint coins to Harvest module account
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supplyKeeper := tApp.GetSupplyKeeper()
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supplyKeeper.MintCoins(ctx, types.ModuleAccountName, tc.args.initialModuleCoins)
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auctionKeeper := tApp.GetAuctionKeeper()
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keeper := tApp.GetHardKeeper()
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suite.app = tApp
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suite.ctx = ctx
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suite.keeper = keeper
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suite.auctionKeeper = auctionKeeper
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var err error
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// Run begin blocker to set up state
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hard.BeginBlocker(suite.ctx, suite.keeper)
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// Deposit coins
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err = suite.keeper.Deposit(suite.ctx, tc.args.borrower, tc.args.depositCoins)
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suite.Require().NoError(err)
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// Borrow coins
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err = suite.keeper.Borrow(suite.ctx, tc.args.borrower, tc.args.borrowCoins)
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suite.Require().NoError(err)
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// Attempting to withdraw fails
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err = suite.keeper.Withdraw(suite.ctx, tc.args.borrower, sdk.NewCoins(sdk.NewCoin("ukava", sdk.OneInt())))
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suite.Require().Error(err)
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suite.Require().True(strings.Contains(err.Error(), tc.errArgs.contains))
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// Set up future chain context and run begin blocker, increasing user's owed borrow balance
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runAtTime := time.Unix(suite.ctx.BlockTime().Unix()+(tc.args.futureTime), 0)
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liqCtx := suite.ctx.WithBlockTime(runAtTime)
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hard.BeginBlocker(liqCtx, suite.keeper)
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// Attempted withdraw of 1 coin still fails
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err = suite.keeper.Withdraw(suite.ctx, tc.args.borrower, sdk.NewCoins(sdk.NewCoin("ukava", sdk.OneInt())))
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suite.Require().Error(err)
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suite.Require().True(strings.Contains(err.Error(), tc.errArgs.contains))
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// Repay the initial principal
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err = suite.keeper.Repay(suite.ctx, tc.args.borrower, tc.args.borrowCoins)
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suite.Require().NoError(err)
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// Attempted withdraw of all deposited coins fails as user hasn't repaid interest debt
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err = suite.keeper.Withdraw(suite.ctx, tc.args.borrower, tc.args.depositCoins)
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suite.Require().Error(err)
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suite.Require().True(strings.Contains(err.Error(), tc.errArgs.contains))
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// Withdrawing half the coins should succeed
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withdrawCoins := sdk.NewCoins(sdk.NewCoin("ukava", tc.args.depositCoins[0].Amount.Quo(sdk.NewInt(2))))
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err = suite.keeper.Withdraw(suite.ctx, tc.args.borrower, withdrawCoins)
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suite.Require().NoError(err)
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})
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}
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}
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@ -48,60 +48,25 @@ func (k Keeper) AttemptKeeperLiquidation(ctx sdk.Context, keeper sdk.AccAddress,
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if !found {
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return false, sdkerrors.Wrapf(types.ErrDepositsNotFound, "no deposits found for %s", borrower)
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}
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depositDenoms := []string{}
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for _, depCoin := range deposit.Amount {
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depositDenoms = append(depositDenoms, depCoin.Denom)
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}
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// Fetch borrow balances and parse coin denoms
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borrows, found := k.GetBorrow(ctx, borrower)
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borrow, found := k.GetBorrow(ctx, borrower)
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if !found {
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return false, types.ErrBorrowNotFound
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}
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borrowDenoms := getDenoms(borrows.Amount)
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liqMap := make(map[string]LiqData)
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// Load required liquidation data for every deposit/borrow denom
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denoms := removeDuplicates(borrowDenoms, depositDenoms)
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for _, denom := range denoms {
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mm, found := k.GetMoneyMarket(ctx, denom)
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if !found {
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return false, sdkerrors.Wrapf(types.ErrMarketNotFound, "no market found for denom %s", denom)
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}
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priceData, err := k.pricefeedKeeper.GetCurrentPrice(ctx, mm.SpotMarketID)
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isWithinRange, err := k.IsWithinValidLtvRange(ctx, deposit, borrow)
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if err != nil {
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return false, err
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}
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liqMap[denom] = LiqData{priceData.Price, mm.BorrowLimit.LoanToValue, mm.ConversionFactor}
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}
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totalBorrowableUSDAmount := sdk.ZeroDec()
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totalDepositedUSDAmount := sdk.ZeroDec()
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for _, depCoin := range deposit.Amount {
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lData := liqMap[depCoin.Denom]
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usdValue := sdk.NewDecFromInt(depCoin.Amount).Quo(sdk.NewDecFromInt(lData.conversionFactor)).Mul(lData.price)
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totalDepositedUSDAmount = totalDepositedUSDAmount.Add(usdValue)
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borrowableUSDAmountForDeposit := usdValue.Mul(lData.ltv)
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totalBorrowableUSDAmount = totalBorrowableUSDAmount.Add(borrowableUSDAmountForDeposit)
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}
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totalBorrowedUSDAmount := sdk.ZeroDec()
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for _, coin := range borrows.Amount {
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lData := liqMap[coin.Denom]
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usdValue := sdk.NewDecFromInt(coin.Amount).Quo(sdk.NewDecFromInt(lData.conversionFactor)).Mul(lData.price)
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totalBorrowedUSDAmount = totalBorrowedUSDAmount.Add(usdValue)
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}
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// Validate that the proposed borrow's USD value is within user's borrowable limit
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if totalBorrowedUSDAmount.LTE(totalBorrowableUSDAmount) {
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return false, sdkerrors.Wrapf(types.ErrBorrowNotLiquidatable, "borrowed %s <= borrowable %s", totalBorrowedUSDAmount, totalBorrowableUSDAmount)
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if isWithinRange {
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return false, sdkerrors.Wrapf(types.ErrBorrowNotLiquidatable, "position is within valid LTV range")
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}
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// Sending coins to auction module with keeper address getting % of the profits
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err = k.SeizeDeposits(ctx, keeper, liqMap, deposit, borrows.Amount, depositDenoms, borrowDenoms)
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borrowDenoms := getDenoms(borrow.Amount)
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depositDenoms := getDenoms(deposit.Amount)
|
||||
err = k.SeizeDeposits(ctx, keeper, deposit, borrow, depositDenoms, borrowDenoms)
|
||||
if err != nil {
|
||||
return false, err
|
||||
}
|
||||
@ -112,7 +77,6 @@ func (k Keeper) AttemptKeeperLiquidation(ctx sdk.Context, keeper sdk.AccAddress,
|
||||
}
|
||||
k.RemoveFromLtvIndex(ctx, currLtv, borrower)
|
||||
|
||||
borrow, _ := k.GetBorrow(ctx, borrower)
|
||||
k.DeleteBorrow(ctx, borrow)
|
||||
k.DeleteDeposit(ctx, deposit)
|
||||
|
||||
@ -120,8 +84,12 @@ func (k Keeper) AttemptKeeperLiquidation(ctx sdk.Context, keeper sdk.AccAddress,
|
||||
}
|
||||
|
||||
// SeizeDeposits seizes a list of deposits and sends them to auction
|
||||
func (k Keeper) SeizeDeposits(ctx sdk.Context, keeper sdk.AccAddress, liqMap map[string]LiqData,
|
||||
deposit types.Deposit, borrowBalances sdk.Coins, dDenoms, bDenoms []string) error {
|
||||
func (k Keeper) SeizeDeposits(ctx sdk.Context, keeper sdk.AccAddress, deposit types.Deposit,
|
||||
borrow types.Borrow, dDenoms, bDenoms []string) error {
|
||||
liqMap, err := k.LoadLiquidationData(ctx, deposit, borrow)
|
||||
if err != nil {
|
||||
return err
|
||||
}
|
||||
|
||||
// Seize % of every deposit and send to the keeper
|
||||
aucDeposits := sdk.Coins{}
|
||||
@ -158,7 +126,7 @@ func (k Keeper) SeizeDeposits(ctx sdk.Context, keeper sdk.AccAddress, liqMap map
|
||||
|
||||
// Build valuation map to hold borrow coin USD valuations
|
||||
borrowCoinValues := types.NewValuationMap()
|
||||
for _, bCoin := range borrowBalances {
|
||||
for _, bCoin := range borrow.Amount {
|
||||
bData := liqMap[bCoin.Denom]
|
||||
bCoinUsdValue := sdk.NewDecFromInt(bCoin.Amount).Quo(sdk.NewDecFromInt(bData.conversionFactor)).Mul(bData.price)
|
||||
borrowCoinValues.Increment(bCoin.Denom, bCoinUsdValue)
|
||||
@ -167,7 +135,7 @@ func (k Keeper) SeizeDeposits(ctx sdk.Context, keeper sdk.AccAddress, liqMap map
|
||||
// Loan-to-Value ratio after sending keeper their reward
|
||||
ltv := borrowCoinValues.Sum().Quo(depositCoinValues.Sum())
|
||||
|
||||
err := k.StartAuctions(ctx, deposit.Depositor, borrowBalances, aucDeposits, depositCoinValues, borrowCoinValues, ltv, liqMap)
|
||||
err = k.StartAuctions(ctx, deposit.Depositor, borrow.Amount, aucDeposits, depositCoinValues, borrowCoinValues, ltv, liqMap)
|
||||
if err != nil {
|
||||
return err
|
||||
}
|
||||
@ -276,68 +244,36 @@ func (k Keeper) StartAuctions(ctx sdk.Context, borrower sdk.AccAddress, borrows,
|
||||
return nil
|
||||
}
|
||||
|
||||
// GetStoreLTV calculates the user's current LTV based on their deposits/borrows in the store
|
||||
// and does not include any outsanding interest.
|
||||
func (k Keeper) GetStoreLTV(ctx sdk.Context, addr sdk.AccAddress) (sdk.Dec, bool, error) {
|
||||
// Fetch deposits and parse coin denoms
|
||||
deposit, found := k.GetDeposit(ctx, addr)
|
||||
if !found {
|
||||
return sdk.ZeroDec(), false, nil
|
||||
}
|
||||
depositDenoms := []string{}
|
||||
for _, depCoin := range deposit.Amount {
|
||||
depositDenoms = append(depositDenoms, depCoin.Denom)
|
||||
}
|
||||
|
||||
// Fetch borrow balances and parse coin denoms
|
||||
borrows, found := k.GetBorrow(ctx, addr)
|
||||
if !found {
|
||||
return sdk.ZeroDec(), false, nil
|
||||
}
|
||||
borrowDenoms := getDenoms(borrows.Amount)
|
||||
|
||||
liqMap := make(map[string]LiqData)
|
||||
|
||||
// Load required liquidation data for every deposit/borrow denom
|
||||
denoms := removeDuplicates(borrowDenoms, depositDenoms)
|
||||
for _, denom := range denoms {
|
||||
mm, found := k.GetMoneyMarket(ctx, denom)
|
||||
if !found {
|
||||
return sdk.ZeroDec(), false, sdkerrors.Wrapf(types.ErrMarketNotFound, "no market found for denom %s", denom)
|
||||
}
|
||||
|
||||
priceData, err := k.pricefeedKeeper.GetCurrentPrice(ctx, mm.SpotMarketID)
|
||||
// IsWithinValidLtvRange compares a borrow and deposit to see if it's within a valid LTV range at current prices
|
||||
func (k Keeper) IsWithinValidLtvRange(ctx sdk.Context, deposit types.Deposit, borrow types.Borrow) (bool, error) {
|
||||
liqMap, err := k.LoadLiquidationData(ctx, deposit, borrow)
|
||||
if err != nil {
|
||||
return sdk.ZeroDec(), false, err
|
||||
return false, err
|
||||
}
|
||||
|
||||
liqMap[denom] = LiqData{priceData.Price, mm.BorrowLimit.LoanToValue, mm.ConversionFactor}
|
||||
}
|
||||
|
||||
// Build valuation map to hold deposit coin USD valuations
|
||||
depositCoinValues := types.NewValuationMap()
|
||||
totalBorrowableUSDAmount := sdk.ZeroDec()
|
||||
totalDepositedUSDAmount := sdk.ZeroDec()
|
||||
for _, depCoin := range deposit.Amount {
|
||||
dData := liqMap[depCoin.Denom]
|
||||
dCoinUsdValue := sdk.NewDecFromInt(depCoin.Amount).Quo(sdk.NewDecFromInt(dData.conversionFactor)).Mul(dData.price)
|
||||
depositCoinValues.Increment(depCoin.Denom, dCoinUsdValue)
|
||||
lData := liqMap[depCoin.Denom]
|
||||
usdValue := sdk.NewDecFromInt(depCoin.Amount).Quo(sdk.NewDecFromInt(lData.conversionFactor)).Mul(lData.price)
|
||||
totalDepositedUSDAmount = totalDepositedUSDAmount.Add(usdValue)
|
||||
borrowableUSDAmountForDeposit := usdValue.Mul(lData.ltv)
|
||||
totalBorrowableUSDAmount = totalBorrowableUSDAmount.Add(borrowableUSDAmountForDeposit)
|
||||
}
|
||||
|
||||
// Build valuation map to hold borrow coin USD valuations
|
||||
borrowCoinValues := types.NewValuationMap()
|
||||
for _, bCoin := range borrows.Amount {
|
||||
bData := liqMap[bCoin.Denom]
|
||||
bCoinUsdValue := sdk.NewDecFromInt(bCoin.Amount).Quo(sdk.NewDecFromInt(bData.conversionFactor)).Mul(bData.price)
|
||||
borrowCoinValues.Increment(bCoin.Denom, bCoinUsdValue)
|
||||
totalBorrowedUSDAmount := sdk.ZeroDec()
|
||||
for _, coin := range borrow.Amount {
|
||||
lData := liqMap[coin.Denom]
|
||||
usdValue := sdk.NewDecFromInt(coin.Amount).Quo(sdk.NewDecFromInt(lData.conversionFactor)).Mul(lData.price)
|
||||
totalBorrowedUSDAmount = totalBorrowedUSDAmount.Add(usdValue)
|
||||
}
|
||||
|
||||
// User doesn't have any deposits, catch divide by 0 error
|
||||
sumDeposits := depositCoinValues.Sum()
|
||||
if sumDeposits.Equal(sdk.ZeroDec()) {
|
||||
return sdk.ZeroDec(), false, nil
|
||||
// Check if the user's has borrowed more than they're allowed to
|
||||
if totalBorrowedUSDAmount.GT(totalBorrowableUSDAmount) {
|
||||
return false, nil
|
||||
}
|
||||
|
||||
// Loan-to-Value ratio
|
||||
return borrowCoinValues.Sum().Quo(sumDeposits), true, nil
|
||||
return true, nil
|
||||
}
|
||||
|
||||
// UpdateItemInLtvIndex updates the key a borrower's address is stored under in the LTV index
|
||||
@ -357,6 +293,86 @@ func (k Keeper) UpdateItemInLtvIndex(ctx sdk.Context, prevLtv sdk.Dec,
|
||||
return nil
|
||||
}
|
||||
|
||||
// GetStoreLTV calculates the user's current LTV based on their deposits/borrows in the store
|
||||
// and does not include any outsanding interest.
|
||||
func (k Keeper) GetStoreLTV(ctx sdk.Context, addr sdk.AccAddress) (sdk.Dec, bool, error) {
|
||||
// Fetch deposits and parse coin denoms
|
||||
deposit, found := k.GetDeposit(ctx, addr)
|
||||
if !found {
|
||||
return sdk.ZeroDec(), false, nil
|
||||
}
|
||||
|
||||
// Fetch borrow balances and parse coin denoms
|
||||
borrow, found := k.GetBorrow(ctx, addr)
|
||||
if !found {
|
||||
return sdk.ZeroDec(), false, nil
|
||||
}
|
||||
|
||||
return k.CalculateLtv(ctx, deposit, borrow)
|
||||
}
|
||||
|
||||
// CalculateLtv calculates the potential LTV given a user's deposits and borrows.
|
||||
// The boolean returned indicates if the LTV should be added to the store's LTV index.
|
||||
func (k Keeper) CalculateLtv(ctx sdk.Context, deposit types.Deposit, borrow types.Borrow) (sdk.Dec, bool, error) {
|
||||
// Load required liquidation data for every deposit/borrow denom
|
||||
liqMap, err := k.LoadLiquidationData(ctx, deposit, borrow)
|
||||
if err != nil {
|
||||
return sdk.ZeroDec(), false, nil
|
||||
}
|
||||
|
||||
// Build valuation map to hold deposit coin USD valuations
|
||||
depositCoinValues := types.NewValuationMap()
|
||||
for _, depCoin := range deposit.Amount {
|
||||
dData := liqMap[depCoin.Denom]
|
||||
dCoinUsdValue := sdk.NewDecFromInt(depCoin.Amount).Quo(sdk.NewDecFromInt(dData.conversionFactor)).Mul(dData.price)
|
||||
depositCoinValues.Increment(depCoin.Denom, dCoinUsdValue)
|
||||
}
|
||||
|
||||
// Build valuation map to hold borrow coin USD valuations
|
||||
borrowCoinValues := types.NewValuationMap()
|
||||
for _, bCoin := range borrow.Amount {
|
||||
bData := liqMap[bCoin.Denom]
|
||||
bCoinUsdValue := sdk.NewDecFromInt(bCoin.Amount).Quo(sdk.NewDecFromInt(bData.conversionFactor)).Mul(bData.price)
|
||||
borrowCoinValues.Increment(bCoin.Denom, bCoinUsdValue)
|
||||
}
|
||||
|
||||
// User doesn't have any deposits, catch divide by 0 error
|
||||
sumDeposits := depositCoinValues.Sum()
|
||||
if sumDeposits.Equal(sdk.ZeroDec()) {
|
||||
return sdk.ZeroDec(), false, nil
|
||||
}
|
||||
|
||||
// Loan-to-Value ratio
|
||||
return borrowCoinValues.Sum().Quo(sumDeposits), true, nil
|
||||
}
|
||||
|
||||
// LoadLiquidationData returns liquidation data, deposit, borrow
|
||||
func (k Keeper) LoadLiquidationData(ctx sdk.Context, deposit types.Deposit, borrow types.Borrow) (map[string]LiqData, error) {
|
||||
liqMap := make(map[string]LiqData)
|
||||
|
||||
borrowDenoms := getDenoms(borrow.Amount)
|
||||
depositDenoms := getDenoms(deposit.Amount)
|
||||
denoms := removeDuplicates(borrowDenoms, depositDenoms)
|
||||
|
||||
// Load required liquidation data for every deposit/borrow denom
|
||||
for _, denom := range denoms {
|
||||
mm, found := k.GetMoneyMarket(ctx, denom)
|
||||
if !found {
|
||||
return liqMap, sdkerrors.Wrapf(types.ErrMarketNotFound, "no market found for denom %s", denom)
|
||||
|
||||
}
|
||||
|
||||
priceData, err := k.pricefeedKeeper.GetCurrentPrice(ctx, mm.SpotMarketID)
|
||||
if err != nil {
|
||||
return liqMap, err
|
||||
}
|
||||
|
||||
liqMap[denom] = LiqData{priceData.Price, mm.BorrowLimit.LoanToValue, mm.ConversionFactor}
|
||||
}
|
||||
|
||||
return liqMap, nil
|
||||
}
|
||||
|
||||
func getDenoms(coins sdk.Coins) []string {
|
||||
denoms := []string{}
|
||||
for _, coin := range coins {
|
||||
|
||||
@ -412,7 +412,7 @@ func (suite *KeeperTestSuite) TestFullIndexLiquidation() {
|
||||
MaxEndTime: endTime,
|
||||
},
|
||||
CorrespondingDebt: sdk.NewInt64Coin("debt", 0),
|
||||
MaxBid: sdk.NewInt64Coin("ukava", 8013492), // TODO: why isn't this 8004766
|
||||
MaxBid: sdk.NewInt64Coin("ukava", 8013492),
|
||||
LotReturns: lotReturns,
|
||||
},
|
||||
},
|
||||
@ -449,7 +449,7 @@ func (suite *KeeperTestSuite) TestFullIndexLiquidation() {
|
||||
MaxEndTime: endTime,
|
||||
},
|
||||
CorrespondingDebt: sdk.NewInt64Coin("debt", 0),
|
||||
MaxBid: sdk.NewInt64Coin("ukava", 8014873), // TODO: Why isn't this 8013492
|
||||
MaxBid: sdk.NewInt64Coin("ukava", 8014873),
|
||||
LotReturns: otherBorrower3LotReturns,
|
||||
},
|
||||
auctypes.CollateralAuction{
|
||||
|
||||
Loading…
Reference in New Issue
Block a user