0g-chain/x/hard/keeper/borrow.go

316 lines
12 KiB
Go
Raw Normal View History

package keeper
import (
"strings"
sdk "github.com/cosmos/cosmos-sdk/types"
sdkerrors "github.com/cosmos/cosmos-sdk/types/errors"
2020-12-21 17:18:55 +00:00
"github.com/kava-labs/kava/x/hard/types"
)
// Borrow funds
func (k Keeper) Borrow(ctx sdk.Context, borrower sdk.AccAddress, coins sdk.Coins) error {
// Set any new denoms' global borrow index to 1.0
for _, coin := range coins {
_, foundInterestFactor := k.GetBorrowInterestFactor(ctx, coin.Denom)
2020-12-21 17:07:02 +00:00
if !foundInterestFactor {
_, foundMm := k.GetMoneyMarket(ctx, coin.Denom)
if foundMm {
k.SetBorrowInterestFactor(ctx, coin.Denom, sdk.OneDec())
}
}
}
// Call incentive hooks
existingDeposit, hasExistingDeposit := k.GetDeposit(ctx, borrower)
if hasExistingDeposit {
k.BeforeDepositModified(ctx, existingDeposit)
}
existingBorrow, hasExistingBorrow := k.GetBorrow(ctx, borrower)
if hasExistingBorrow {
k.BeforeBorrowModified(ctx, existingBorrow)
}
k.SyncSupplyInterest(ctx, borrower)
k.SyncBorrowInterest(ctx, borrower)
// Validate borrow amount within user and protocol limits
err := k.ValidateBorrow(ctx, borrower, coins)
if err != nil {
return err
}
2020-12-21 17:18:55 +00:00
// Sends coins from Hard module account to user
err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleAccountName, borrower, coins)
if err != nil {
if strings.Contains(err.Error(), "insufficient account funds") {
modAccCoins := k.supplyKeeper.GetModuleAccount(ctx, types.ModuleAccountName).GetCoins()
for _, coin := range coins {
_, isNegative := modAccCoins.SafeSub(sdk.NewCoins(coin))
if isNegative {
return sdkerrors.Wrapf(types.ErrBorrowExceedsAvailableBalance,
"the requested borrow amount of %s exceeds the total amount of %s%s available to borrow",
coin, modAccCoins.AmountOf(coin.Denom), coin.Denom,
)
}
}
}
}
2021-02-15 15:30:41 +00:00
if err != nil {
return err
}
interestFactors := types.BorrowInterestFactors{}
currBorrow, foundBorrow := k.GetBorrow(ctx, borrower)
if foundBorrow {
interestFactors = currBorrow.Index
}
for _, coin := range coins {
interestFactorValue, foundValue := k.GetBorrowInterestFactor(ctx, coin.Denom)
if foundValue {
interestFactors = interestFactors.SetInterestFactor(coin.Denom, interestFactorValue)
}
}
// Calculate new borrow amount
var amount sdk.Coins
if foundBorrow {
amount = currBorrow.Amount.Add(coins...)
} else {
amount = coins
}
// Construct the user's new/updated borrow with amount and interest factors
borrow := types.NewBorrow(borrower, amount, interestFactors)
if borrow.Amount.Empty() {
k.DeleteBorrow(ctx, borrow)
} else {
k.SetBorrow(ctx, borrow)
}
// Update total borrowed amount by newly borrowed coins. Don't add user's pending interest as
// it has already been included in the total borrowed coins by the BeginBlocker.
k.IncrementBorrowedCoins(ctx, coins)
if !hasExistingBorrow {
k.AfterBorrowCreated(ctx, borrow)
} else {
k.AfterBorrowModified(ctx, borrow)
}
ctx.EventManager().EmitEvent(
sdk.NewEvent(
2020-12-21 17:18:55 +00:00
types.EventTypeHardBorrow,
sdk.NewAttribute(types.AttributeKeyBorrower, borrower.String()),
sdk.NewAttribute(types.AttributeKeyBorrowCoins, coins.String()),
),
)
return nil
}
// ValidateBorrow validates a borrow request against borrower and protocol requirements
func (k Keeper) ValidateBorrow(ctx sdk.Context, borrower sdk.AccAddress, amount sdk.Coins) error {
if amount.IsZero() {
return types.ErrBorrowEmptyCoins
}
// The reserve coins aren't available for users to borrow
hardMaccCoins := k.supplyKeeper.GetModuleAccount(ctx, types.ModuleName).GetCoins()
reserveCoins, foundReserveCoins := k.GetTotalReserves(ctx)
if !foundReserveCoins {
reserveCoins = sdk.NewCoins()
}
fundsAvailableToBorrow, isNegative := hardMaccCoins.SafeSub(reserveCoins)
if isNegative {
return sdkerrors.Wrapf(types.ErrReservesExceedCash, "reserves %s > cash %s", reserveCoins, hardMaccCoins)
}
if amount.IsAnyGT(fundsAvailableToBorrow) {
return sdkerrors.Wrapf(types.ErrExceedsProtocolBorrowableBalance, "requested borrow %s > available to borrow %s", amount, fundsAvailableToBorrow)
}
// Get the proposed borrow USD value
moneyMarketCache := map[string]types.MoneyMarket{}
proprosedBorrowUSDValue := sdk.ZeroDec()
for _, coin := range amount {
moneyMarket, ok := moneyMarketCache[coin.Denom]
// Fetch money market and store in local cache
if !ok {
newMoneyMarket, found := k.GetMoneyMarketParam(ctx, coin.Denom)
if !found {
return sdkerrors.Wrapf(types.ErrMarketNotFound, "no market found for denom %s", coin.Denom)
}
moneyMarketCache[coin.Denom] = newMoneyMarket
moneyMarket = newMoneyMarket
}
// Calculate this coin's USD value and add it borrow's total USD value
assetPriceInfo, err := k.pricefeedKeeper.GetCurrentPrice(ctx, moneyMarket.SpotMarketID)
if err != nil {
return sdkerrors.Wrapf(types.ErrPriceNotFound, "no price found for market %s", moneyMarket.SpotMarketID)
}
coinUSDValue := sdk.NewDecFromInt(coin.Amount).Quo(sdk.NewDecFromInt(moneyMarket.ConversionFactor)).Mul(assetPriceInfo.Price)
// Validate the requested borrow value for the asset against the money market's global borrow limit
if moneyMarket.BorrowLimit.HasMaxLimit {
var assetTotalBorrowedAmount sdk.Int
totalBorrowedCoins, found := k.GetBorrowedCoins(ctx)
if !found {
assetTotalBorrowedAmount = sdk.ZeroInt()
} else {
assetTotalBorrowedAmount = totalBorrowedCoins.AmountOf(coin.Denom)
}
newProposedAssetTotalBorrowedAmount := sdk.NewDecFromInt(assetTotalBorrowedAmount.Add(coin.Amount))
if newProposedAssetTotalBorrowedAmount.GT(moneyMarket.BorrowLimit.MaximumLimit) {
return sdkerrors.Wrapf(types.ErrGreaterThanAssetBorrowLimit,
"proposed borrow would result in %s borrowed, but the maximum global asset borrow limit is %s",
newProposedAssetTotalBorrowedAmount, moneyMarket.BorrowLimit.MaximumLimit)
}
}
proprosedBorrowUSDValue = proprosedBorrowUSDValue.Add(coinUSDValue)
}
// Get the total borrowable USD amount at user's existing deposits
deposit, found := k.GetDeposit(ctx, borrower)
if !found {
return sdkerrors.Wrapf(types.ErrDepositsNotFound, "no deposits found for %s", borrower)
}
totalBorrowableAmount := sdk.ZeroDec()
for _, depCoin := range deposit.Amount {
moneyMarket, ok := moneyMarketCache[depCoin.Denom]
// Fetch money market and store in local cache
if !ok {
newMoneyMarket, found := k.GetMoneyMarketParam(ctx, depCoin.Denom)
if !found {
return sdkerrors.Wrapf(types.ErrMarketNotFound, "no market found for denom %s", depCoin.Denom)
}
moneyMarketCache[depCoin.Denom] = newMoneyMarket
moneyMarket = newMoneyMarket
}
// Calculate the borrowable amount and add it to the user's total borrowable amount
assetPriceInfo, err := k.pricefeedKeeper.GetCurrentPrice(ctx, moneyMarket.SpotMarketID)
if err != nil {
2021-02-04 16:53:50 +00:00
return sdkerrors.Wrapf(types.ErrPriceNotFound, "no price found for market %s", moneyMarket.SpotMarketID)
}
depositUSDValue := sdk.NewDecFromInt(depCoin.Amount).Quo(sdk.NewDecFromInt(moneyMarket.ConversionFactor)).Mul(assetPriceInfo.Price)
borrowableAmountForDeposit := depositUSDValue.Mul(moneyMarket.BorrowLimit.LoanToValue)
totalBorrowableAmount = totalBorrowableAmount.Add(borrowableAmountForDeposit)
}
// Get the total USD value of user's existing borrows
existingBorrowUSDValue := sdk.ZeroDec()
existingBorrow, found := k.GetBorrow(ctx, borrower)
if found {
for _, borrowedCoin := range existingBorrow.Amount {
moneyMarket, ok := moneyMarketCache[borrowedCoin.Denom]
// Fetch money market and store in local cache
if !ok {
newMoneyMarket, found := k.GetMoneyMarketParam(ctx, borrowedCoin.Denom)
if !found {
return sdkerrors.Wrapf(types.ErrMarketNotFound, "no market found for denom %s", borrowedCoin.Denom)
}
moneyMarketCache[borrowedCoin.Denom] = newMoneyMarket
moneyMarket = newMoneyMarket
}
// Calculate this borrow coin's USD value and add it to the total previous borrowed USD value
assetPriceInfo, err := k.pricefeedKeeper.GetCurrentPrice(ctx, moneyMarket.SpotMarketID)
if err != nil {
return sdkerrors.Wrapf(types.ErrPriceNotFound, "no price found for market %s", moneyMarket.SpotMarketID)
}
coinUSDValue := sdk.NewDecFromInt(borrowedCoin.Amount).Quo(sdk.NewDecFromInt(moneyMarket.ConversionFactor)).Mul(assetPriceInfo.Price)
existingBorrowUSDValue = existingBorrowUSDValue.Add(coinUSDValue)
}
}
// Borrow's updated total USD value must be greater than the minimum global USD borrow limit
totalBorrowUSDValue := proprosedBorrowUSDValue.Add(existingBorrowUSDValue)
if totalBorrowUSDValue.LT(k.GetMinimumBorrowUSDValue(ctx)) {
return sdkerrors.Wrapf(types.ErrBelowMinimumBorrowValue, "the proposed borrow's USD value $%s is below the minimum borrow limit $%s", totalBorrowUSDValue, k.GetMinimumBorrowUSDValue(ctx))
}
// Validate that the proposed borrow's USD value is within user's borrowable limit
if proprosedBorrowUSDValue.GT(totalBorrowableAmount.Sub(existingBorrowUSDValue)) {
2020-12-08 13:28:01 +00:00
return sdkerrors.Wrapf(types.ErrInsufficientLoanToValue, "requested borrow %s exceeds the allowable amount as determined by the collateralization ratio", amount)
}
return nil
}
// IncrementBorrowedCoins increments the total amount of borrowed coins by the newCoins parameter
func (k Keeper) IncrementBorrowedCoins(ctx sdk.Context, newCoins sdk.Coins) {
borrowedCoins, found := k.GetBorrowedCoins(ctx)
if !found {
2020-12-04 14:35:26 +00:00
if !newCoins.Empty() {
k.SetBorrowedCoins(ctx, newCoins)
}
} else {
k.SetBorrowedCoins(ctx, borrowedCoins.Add(newCoins...))
}
}
// DecrementBorrowedCoins decrements the total amount of borrowed coins by the coins parameter
func (k Keeper) DecrementBorrowedCoins(ctx sdk.Context, coins sdk.Coins) error {
borrowedCoins, found := k.GetBorrowedCoins(ctx)
if !found {
return sdkerrors.Wrapf(types.ErrBorrowedCoinsNotFound, "cannot repay coins if no coins are currently borrowed")
}
updatedBorrowedCoins := sdk.NewCoins()
for _, coin := range coins {
// If amount is greater than total borrowed amount due to rounding, set total borrowed amount to 0
// by skipping the coin such that it's not included in the updatedBorrowedCoins object
if coin.Amount.GTE(borrowedCoins.AmountOf(coin.Denom)) {
continue
}
updatedBorrowCoin := sdk.NewCoin(coin.Denom, borrowedCoins.AmountOf(coin.Denom).Sub(coin.Amount))
updatedBorrowedCoins = updatedBorrowedCoins.Add(updatedBorrowCoin)
}
k.SetBorrowedCoins(ctx, updatedBorrowedCoins)
return nil
}
2020-12-04 19:04:05 +00:00
// GetSyncedBorrow returns a borrow object containing current balances and indexes
func (k Keeper) GetSyncedBorrow(ctx sdk.Context, borrower sdk.AccAddress) (types.Borrow, bool) {
2020-12-04 19:04:05 +00:00
borrow, found := k.GetBorrow(ctx, borrower)
if !found {
return types.Borrow{}, false
}
return k.loadSyncedBorrow(ctx, borrow), true
}
// loadSyncedBorrow calculates a user's synced borrow, but does not update state
func (k Keeper) loadSyncedBorrow(ctx sdk.Context, borrow types.Borrow) types.Borrow {
totalNewInterest := sdk.Coins{}
newBorrowIndexes := types.BorrowInterestFactors{}
for _, coin := range borrow.Amount {
interestFactorValue, foundInterestFactorValue := k.GetBorrowInterestFactor(ctx, coin.Denom)
if foundInterestFactorValue {
// Locate the interest factor by coin denom in the user's list of interest factors
foundAtIndex := -1
for i := range borrow.Index {
if borrow.Index[i].Denom == coin.Denom {
foundAtIndex = i
break
2020-12-04 19:04:05 +00:00
}
}
// Calculate interest owed by user for this asset
if foundAtIndex != -1 {
storedAmount := sdk.NewDecFromInt(borrow.Amount.AmountOf(coin.Denom))
userLastInterestFactor := borrow.Index[foundAtIndex].Value
coinInterest := (storedAmount.Quo(userLastInterestFactor).Mul(interestFactorValue)).Sub(storedAmount)
totalNewInterest = totalNewInterest.Add(sdk.NewCoin(coin.Denom, coinInterest.TruncateInt()))
}
2020-12-04 19:04:05 +00:00
}
borrowIndex := types.NewBorrowInterestFactor(coin.Denom, interestFactorValue)
newBorrowIndexes = append(newBorrowIndexes, borrowIndex)
2020-12-04 19:04:05 +00:00
}
return types.NewBorrow(borrow.Borrower, borrow.Amount.Add(totalNewInterest...), newBorrowIndexes)
2020-12-04 19:04:05 +00:00
}