0g-chain/x/auction/keeper/auctions.go

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package keeper
import (
"fmt"
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"time"
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sdk "github.com/cosmos/cosmos-sdk/types"
"github.com/cosmos/cosmos-sdk/x/supply"
"github.com/kava-labs/kava/x/auction/types"
)
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// StartSurplusAuction starts a new surplus (forward) auction.
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func (k Keeper) StartSurplusAuction(ctx sdk.Context, seller string, lot sdk.Coin, bidDenom string) (uint64, sdk.Error) {
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auction := types.NewSurplusAuction(
seller,
lot,
bidDenom,
ctx.BlockTime().Add(k.GetParams(ctx).MaxAuctionDuration))
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err := k.supplyKeeper.SendCoinsFromModuleToModule(ctx, seller, types.ModuleName, sdk.NewCoins(lot))
if err != nil {
return 0, err
}
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auctionID, err := k.StoreNewAuction(ctx, auction)
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if err != nil {
return 0, err
}
return auctionID, nil
}
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// StartDebtAuction starts a new debt (reverse) auction.
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func (k Keeper) StartDebtAuction(ctx sdk.Context, buyer string, bid sdk.Coin, initialLot sdk.Coin, debt sdk.Coin) (uint64, sdk.Error) {
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auction := types.NewDebtAuction(
buyer,
bid,
initialLot,
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ctx.BlockTime().Add(k.GetParams(ctx).MaxAuctionDuration),
debt)
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// This auction type mints coins at close. Need to check module account has minting privileges to avoid potential err in endblocker.
macc := k.supplyKeeper.GetModuleAccount(ctx, buyer)
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if !macc.HasPermission(supply.Minter) {
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return 0, sdk.ErrInternal("module does not have minting permissions")
}
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err := k.supplyKeeper.SendCoinsFromModuleToModule(ctx, buyer, types.ModuleName, sdk.NewCoins(debt))
if err != nil {
return 0, err
}
auctionID, err := k.StoreNewAuction(ctx, auction)
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if err != nil {
return 0, err
}
return auctionID, nil
}
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// StartCollateralAuction starts a new collateral (2-phase) auction.
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func (k Keeper) StartCollateralAuction(ctx sdk.Context, seller string, lot sdk.Coin, maxBid sdk.Coin, lotReturnAddrs []sdk.AccAddress, lotReturnWeights []sdk.Int, debt sdk.Coin) (uint64, sdk.Error) {
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weightedAddresses, err := types.NewWeightedAddresses(lotReturnAddrs, lotReturnWeights)
if err != nil {
return 0, err
}
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auction := types.NewCollateralAuction(
seller,
lot,
ctx.BlockTime().Add(types.DefaultMaxAuctionDuration),
maxBid,
weightedAddresses,
debt)
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err = k.supplyKeeper.SendCoinsFromModuleToModule(ctx, seller, types.ModuleName, sdk.NewCoins(lot))
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if err != nil {
return 0, err
}
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err = k.supplyKeeper.SendCoinsFromModuleToModule(ctx, seller, types.ModuleName, sdk.NewCoins(debt))
if err != nil {
return 0, err
}
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auctionID, err := k.StoreNewAuction(ctx, auction)
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if err != nil {
return 0, err
}
return auctionID, nil
}
// PlaceBid places a bid on any auction.
func (k Keeper) PlaceBid(ctx sdk.Context, auctionID uint64, bidder sdk.AccAddress, newAmount sdk.Coin) sdk.Error {
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auction, found := k.GetAuction(ctx, auctionID)
if !found {
return sdk.ErrInternal("auction doesn't exist")
}
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// validation common to all auctions
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if ctx.BlockTime().After(auction.GetEndTime()) {
return sdk.ErrInternal("auction has closed")
}
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// move coins and return updated auction
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var err sdk.Error
var updatedAuction types.Auction
switch a := auction.(type) {
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case types.SurplusAuction:
if updatedAuction, err = k.PlaceBidSurplus(ctx, a, bidder, newAmount); err != nil {
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return err
}
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case types.DebtAuction:
if updatedAuction, err = k.PlaceBidDebt(ctx, a, bidder, newAmount); err != nil {
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return err
}
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case types.CollateralAuction:
if !a.IsReversePhase() {
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updatedAuction, err = k.PlaceForwardBidCollateral(ctx, a, bidder, newAmount)
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} else {
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updatedAuction, err = k.PlaceReverseBidCollateral(ctx, a, bidder, newAmount)
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}
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if err != nil {
return err
}
default:
panic(fmt.Sprintf("unrecognized auction type: %T", auction))
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}
k.SetAuction(ctx, updatedAuction)
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return nil
}
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// PlaceBidSurplus places a forward bid on a surplus auction, moving coins and returning the updated auction.
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func (k Keeper) PlaceBidSurplus(ctx sdk.Context, a types.SurplusAuction, bidder sdk.AccAddress, bid sdk.Coin) (types.SurplusAuction, sdk.Error) {
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// Validate new bid
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if bid.Denom != a.Bid.Denom {
return a, sdk.ErrInternal("bid denom doesn't match auction")
}
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if !a.Bid.IsLT(bid) {
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return a, sdk.ErrInternal("bid not greater than last bid")
}
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// New bidder pays back old bidder
// Catch edge cases of a bidder replacing their own bid, and the amount being zero (sending zero coins produces meaningless send events).
if !bidder.Equals(a.Bidder) && !a.Bid.IsZero() {
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err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, types.ModuleName, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleName, a.Bidder, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
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}
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// Increase in bid is burned
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err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, a.Initiator, sdk.NewCoins(bid.Sub(a.Bid)))
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if err != nil {
return a, err
}
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err = k.supplyKeeper.BurnCoins(ctx, a.Initiator, sdk.NewCoins(bid.Sub(a.Bid)))
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if err != nil {
return a, err
}
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// Update Auction
a.Bidder = bidder
a.Bid = bid
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a.EndTime = earliestTime(ctx.BlockTime().Add(k.GetParams(ctx).BidDuration), a.MaxEndTime) // increment timeout
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return a, nil
}
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// PlaceForwardBidCollateral places a forward bid on a collateral auction, moving coins and returning the updated auction.
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func (k Keeper) PlaceForwardBidCollateral(ctx sdk.Context, a types.CollateralAuction, bidder sdk.AccAddress, bid sdk.Coin) (types.CollateralAuction, sdk.Error) {
// Validate new bid
if bid.Denom != a.Bid.Denom {
return a, sdk.ErrInternal("bid denom doesn't match auction")
}
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if a.IsReversePhase() {
return a, sdk.ErrInternal("auction is not in forward phase")
}
if !a.Bid.IsLT(bid) {
return a, sdk.ErrInternal("auction in forward phase, new bid not higher than last bid")
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}
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if a.MaxBid.IsLT(bid) {
return a, sdk.ErrInternal("bid higher than max bid")
}
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// New bidder pays back old bidder
// Catch edge cases of a bidder replacing their own bid, and the amount being zero (sending zero coins produces meaningless send events).
if !bidder.Equals(a.Bidder) && !a.Bid.IsZero() {
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err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, types.ModuleName, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleName, a.Bidder, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
}
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// Increase in bid sent to auction initiator
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bidIncrement := bid.Sub(a.Bid)
err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, a.Initiator, sdk.NewCoins(bidIncrement))
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if err != nil {
return a, err
}
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// Debt coins are sent to liquidator (until there is no CorrespondingDebt left). Amount sent is equal to bidIncrement.
if a.CorrespondingDebt.IsPositive() {
debtAmountToReturn := sdk.MinInt(bidIncrement.Amount, a.CorrespondingDebt.Amount)
debtToReturn := sdk.NewCoin(a.CorrespondingDebt.Denom, debtAmountToReturn)
err = k.supplyKeeper.SendCoinsFromModuleToModule(ctx, types.ModuleName, a.Initiator, sdk.NewCoins(debtToReturn))
if err != nil {
return a, err
}
a.CorrespondingDebt = a.CorrespondingDebt.Sub(debtToReturn) // debtToReturn will always be ≤ a.CorrespondingDebt from the MinInt above
// TODO optionally burn out debt and stable just returned to liquidator
}
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// Update Auction
a.Bidder = bidder
a.Bid = bid
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a.EndTime = earliestTime(ctx.BlockTime().Add(k.GetParams(ctx).BidDuration), a.MaxEndTime) // increment timeout
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return a, nil
}
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// PlaceReverseBidCollateral places a reverse bid on a collateral auction, moving coins and returning the updated auction.
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func (k Keeper) PlaceReverseBidCollateral(ctx sdk.Context, a types.CollateralAuction, bidder sdk.AccAddress, lot sdk.Coin) (types.CollateralAuction, sdk.Error) {
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// Validate new bid
if lot.Denom != a.Lot.Denom {
return a, sdk.ErrInternal("lot denom doesn't match auction")
}
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if !a.IsReversePhase() {
return a, sdk.ErrInternal("auction not in reverse phase")
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}
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if lot.IsNegative() {
return a, sdk.ErrInternal("can't bid negative amount")
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}
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if !lot.IsLT(a.Lot) {
return a, sdk.ErrInternal("auction in reverse phase, new bid not less than previous amount")
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}
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// New bidder pays back old bidder
// Catch edge cases of a bidder replacing their own bid
if !bidder.Equals(a.Bidder) {
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err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, types.ModuleName, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleName, a.Bidder, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
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}
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// Decrease in lot is sent to weighted addresses (normally the CDP depositors)
// TODO paying out rateably to cdp depositors is vulnerable to errors compounding over multiple bids - check this can't be gamed.
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lotPayouts, err := splitCoinIntoWeightedBuckets(a.Lot.Sub(lot), a.LotReturns.Weights)
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if err != nil {
return a, err
}
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for i, payout := range lotPayouts {
err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleName, a.LotReturns.Addresses[i], sdk.NewCoins(payout))
if err != nil {
return a, err
}
}
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// Update Auction
a.Bidder = bidder
a.Lot = lot
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a.EndTime = earliestTime(ctx.BlockTime().Add(k.GetParams(ctx).BidDuration), a.MaxEndTime) // increment timeout
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return a, nil
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}
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// PlaceBidDebt places a reverse bid on a debt auction, moving coins and returning the updated auction.
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func (k Keeper) PlaceBidDebt(ctx sdk.Context, a types.DebtAuction, bidder sdk.AccAddress, lot sdk.Coin) (types.DebtAuction, sdk.Error) {
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// Validate new bid
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if lot.Denom != a.Lot.Denom {
return a, sdk.ErrInternal("lot denom doesn't match auction")
}
if lot.IsNegative() {
return a, sdk.ErrInternal("lot less than 0")
}
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if !lot.IsLT(a.Lot) {
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return a, sdk.ErrInternal("lot not smaller than last lot")
}
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// New bidder pays back old bidder
// Catch edge cases of a bidder replacing their own bid
if !bidder.Equals(a.Bidder) {
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err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, types.ModuleName, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleName, a.Bidder, sdk.NewCoins(a.Bid))
if err != nil {
return a, err
}
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}
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// Debt coins are sent to liquidator the first time a bid is placed. Amount sent is equal to Bid.
if a.Bidder.Equals(supply.NewModuleAddress(a.Initiator)) {
debtAmountToReturn := sdk.MinInt(a.Bid.Amount, a.CorrespondingDebt.Amount)
debtToReturn := sdk.NewCoin(a.CorrespondingDebt.Denom, debtAmountToReturn)
err := k.supplyKeeper.SendCoinsFromModuleToModule(ctx, types.ModuleName, a.Initiator, sdk.NewCoins(debtToReturn))
if err != nil {
return a, err
}
a.CorrespondingDebt = a.CorrespondingDebt.Sub(debtToReturn) // debtToReturn will always be ≤ a.CorrespondingDebt from the MinInt above
// TODO optionally burn out debt and stable just returned to liquidator
}
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// Update Auction
a.Bidder = bidder
a.Lot = lot
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a.EndTime = earliestTime(ctx.BlockTime().Add(k.GetParams(ctx).BidDuration), a.MaxEndTime) // increment timeout
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return a, nil
}
// CloseAuction closes an auction and distributes funds to the highest bidder.
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func (k Keeper) CloseAuction(ctx sdk.Context, auctionID uint64) sdk.Error {
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auction, found := k.GetAuction(ctx, auctionID)
if !found {
return sdk.ErrInternal("auction doesn't exist")
}
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if ctx.BlockTime().Before(auction.GetEndTime()) {
return sdk.ErrInternal(fmt.Sprintf("auction can't be closed as curent block time (%v) is under auction end time (%v)", ctx.BlockTime(), auction.GetEndTime()))
}
// payout to the last bidder
switch auc := auction.(type) {
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case types.SurplusAuction:
if err := k.PayoutSurplusAuction(ctx, auc); err != nil {
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return err
}
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case types.DebtAuction:
if err := k.PayoutDebtAuction(ctx, auc); err != nil {
return err
}
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case types.CollateralAuction:
if err := k.PayoutCollateralAuction(ctx, auc); err != nil {
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return err
}
default:
panic("unrecognized auction type")
}
k.DeleteAuction(ctx, auctionID)
return nil
}
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// PayoutDebtAuction pays out the proceeds for a debt auction, first minting the coins.
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func (k Keeper) PayoutDebtAuction(ctx sdk.Context, a types.DebtAuction) sdk.Error {
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err := k.supplyKeeper.MintCoins(ctx, a.Initiator, sdk.NewCoins(a.Lot))
if err != nil {
return err
}
err = k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, a.Initiator, a.Bidder, sdk.NewCoins(a.Lot))
if err != nil {
return err
}
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if a.CorrespondingDebt.IsPositive() {
err = k.supplyKeeper.SendCoinsFromModuleToModule(ctx, types.ModuleName, a.Initiator, sdk.NewCoins(a.CorrespondingDebt))
if err != nil {
return err
}
}
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return nil
}
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// PayoutSurplusAuction pays out the proceeds for a surplus auction.
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func (k Keeper) PayoutSurplusAuction(ctx sdk.Context, a types.SurplusAuction) sdk.Error {
err := k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleName, a.Bidder, sdk.NewCoins(a.Lot))
if err != nil {
return err
}
return nil
}
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// PayoutCollateralAuction pays out the proceeds for a collateral auction.
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func (k Keeper) PayoutCollateralAuction(ctx sdk.Context, a types.CollateralAuction) sdk.Error {
err := k.supplyKeeper.SendCoinsFromModuleToAccount(ctx, types.ModuleName, a.Bidder, sdk.NewCoins(a.Lot))
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if err != nil {
return err
}
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if a.CorrespondingDebt.IsPositive() {
err = k.supplyKeeper.SendCoinsFromModuleToModule(ctx, types.ModuleName, a.Initiator, sdk.NewCoins(a.CorrespondingDebt))
if err != nil {
return err
}
}
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return nil
}
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// CloseExpiredAuctions finds all auctions that are past (or at) their ending times and closes them, paying out to the highest bidder.
func (k Keeper) CloseExpiredAuctions(ctx sdk.Context) sdk.Error {
var expiredAuctions []uint64
k.IterateAuctionsByTime(ctx, ctx.BlockTime(), func(id uint64) bool {
expiredAuctions = append(expiredAuctions, id)
return false
})
// Note: iteration and auction closing are in separate loops as db should not be modified during iteration // TODO is this correct? gov modifies during iteration
for _, id := range expiredAuctions {
if err := k.CloseAuction(ctx, id); err != nil {
return err
}
}
return nil
}
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// earliestTime returns the earliest of two times.
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func earliestTime(t1, t2 time.Time) time.Time {
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if t1.Before(t2) {
return t1
} else {
return t2 // also returned if times are equal
}
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}
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// splitCoinIntoWeightedBuckets divides up some amount of coins according to some weights.
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func splitCoinIntoWeightedBuckets(coin sdk.Coin, buckets []sdk.Int) ([]sdk.Coin, sdk.Error) {
for _, bucket := range buckets {
if bucket.IsNegative() {
return nil, sdk.ErrInternal("cannot split coin into bucket with negative weight")
}
}
amounts := splitIntIntoWeightedBuckets(coin.Amount, buckets)
result := make([]sdk.Coin, len(amounts))
for i, a := range amounts {
result[i] = sdk.NewCoin(coin.Denom, a)
}
return result, nil
}