package keeper import ( "fmt" "time" sdk "github.com/cosmos/cosmos-sdk/types" "github.com/cosmos/cosmos-sdk/x/supply" "github.com/kava-labs/kava/x/auction/types" ) // StartSurplusAuction starts a normal auction that mints the sold coins. func (k Keeper) StartSurplusAuction(ctx sdk.Context, seller string, lot sdk.Coin, bidDenom string) (uint64, sdk.Error) { // create auction auction := types.NewSurplusAuction(seller, lot, bidDenom, ctx.BlockTime().Add(types.DefaultMaxAuctionDuration)) // take coins from module account err := k.supplyKeeper.SendCoinsFromModuleToModule(ctx, seller, types.ModuleName, sdk.NewCoins(lot)) if err != nil { return 0, err } // store the auction auctionID, err := k.StoreNewAuction(ctx, auction) if err != nil { return 0, err } return auctionID, nil } // StartDebtAuction starts an auction where sellers compete by offering decreasing prices. func (k Keeper) StartDebtAuction(ctx sdk.Context, buyer string, bid sdk.Coin, initialLot sdk.Coin) (uint64, sdk.Error) { // create auction auction := types.NewDebtAuction(buyer, bid, initialLot, ctx.BlockTime().Add(types.DefaultMaxAuctionDuration)) // 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) if !macc.HasPermission(supply.Minter) { return 0, sdk.ErrInternal("module does not have minting permissions") } // store the auction auctionID, err := k.StoreNewAuction(ctx, auction) if err != nil { return 0, err } return auctionID, nil } // StartCollateralAuction starts an auction where bidders bid up to a maxBid, then switch to bidding down on price. func (k Keeper) StartCollateralAuction(ctx sdk.Context, seller string, lot sdk.Coin, maxBid sdk.Coin, lotReturnAddrs []sdk.AccAddress, lotReturnWeights []sdk.Int) (uint64, sdk.Error) { // create auction weightedAddresses, err := types.NewWeightedAddresses(lotReturnAddrs, lotReturnWeights) if err != nil { return 0, err } auction := types.NewCollateralAuction(seller, lot, ctx.BlockTime().Add(types.DefaultMaxAuctionDuration), maxBid, weightedAddresses) // take coins from module account err = k.supplyKeeper.SendCoinsFromModuleToModule(ctx, seller, types.ModuleName, sdk.NewCoins(lot)) if err != nil { return 0, err } // store the auction auctionID, err := k.StoreNewAuction(ctx, auction) 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 { // get auction from store auction, found := k.GetAuction(ctx, auctionID) if !found { return sdk.ErrInternal("auction doesn't exist") } // validate if ctx.BlockTime().After(auction.GetEndTime()) { return sdk.ErrInternal("auction has closed") } // place bid var err sdk.Error var updatedAuction types.Auction switch a := auction.(type) { case types.SurplusAuction: if updatedAuction, err = k.PlaceBidSurplus(ctx, a, bidder, newAmount); err != nil { return err } case types.DebtAuction: if updatedAuction, err = k.PlaceBidDebt(ctx, a, bidder, newAmount); err != nil { return err } case types.CollateralAuction: if !a.IsReversePhase() { updatedAuction, err = k.PlaceForwardBidCollateral(ctx, a, bidder, newAmount) } else { updatedAuction, err = k.PlaceReverseBidCollateral(ctx, a, bidder, newAmount) } if err != nil { return err } default: panic(fmt.Sprintf("unrecognized auction type: %T", auction)) } // store updated auction k.SetAuction(ctx, updatedAuction) return nil } func (k Keeper) PlaceBidSurplus(ctx sdk.Context, a types.SurplusAuction, bidder sdk.AccAddress, bid sdk.Coin) (types.SurplusAuction, sdk.Error) { // Validate New Bid if bid.Denom != a.Bid.Denom { return a, sdk.ErrInternal("bid denom doesn't match auction") } if !a.Bid.IsLT(bid) { // TODO add minimum bid size return a, sdk.ErrInternal("bid not greater than last bid") } // Move Coins if !bidder.Equals(a.Bidder) && !a.Bid.IsZero() { // catch edge case of someone updating their bid with a low balance, also don't send if amt is zero // pay back previous bidder 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 } } // burn increase in bid err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, a.Initiator, sdk.NewCoins(bid.Sub(a.Bid))) if err != nil { return a, err } err = k.supplyKeeper.BurnCoins(ctx, a.Initiator, sdk.NewCoins(bid.Sub(a.Bid))) if err != nil { return a, err } // Update Auction a.Bidder = bidder a.Bid = bid // increment timeout a.EndTime = earliestTime(ctx.BlockTime().Add(types.DefaultBidDuration), a.MaxEndTime) return a, nil } 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") } 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") } if a.MaxBid.IsLT(bid) { return a, sdk.ErrInternal("bid higher than max bid") } // Move Coins // pay back previous bidder if !bidder.Equals(a.Bidder) && !a.Bid.IsZero() { // catch edge case of someone updating their bid with a low balance, also don't send if amt is zero 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 } } // pay increase in bid to auction initiator err := k.supplyKeeper.SendCoinsFromAccountToModule(ctx, bidder, a.Initiator, sdk.NewCoins(bid.Sub(a.Bid))) if err != nil { return a, err } // Update Auction a.Bidder = bidder a.Bid = bid // increment timeout a.EndTime = earliestTime(ctx.BlockTime().Add(types.DefaultBidDuration), a.MaxEndTime) return a, nil } func (k Keeper) PlaceReverseBidCollateral(ctx sdk.Context, a types.CollateralAuction, bidder sdk.AccAddress, lot sdk.Coin) (types.CollateralAuction, sdk.Error) { // Validate bid if lot.Denom != a.Lot.Denom { return a, sdk.ErrInternal("lot denom doesn't match auction") } if !a.IsReversePhase() { return a, sdk.ErrInternal("auction not in reverse phase") } if lot.IsNegative() { return a, sdk.ErrInternal("can't bid negative amount") } if !lot.IsLT(a.Lot) { return a, sdk.ErrInternal("auction in reverse phase, new bid not less than previous amount") } // Move Coins if !bidder.Equals(a.Bidder) { // catch edge case of someone updating their bid with a low balance 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 } } // FIXME paying out rateably to cdp depositors is vulnerable to errors compounding over multiple bids lotPayouts, err := splitCoinIntoWeightedBuckets(a.Lot.Sub(lot), a.LotReturns.Weights) if err != nil { return a, err } 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 } } // Update Auction a.Bidder = bidder a.Lot = lot // increment timeout a.EndTime = earliestTime(ctx.BlockTime().Add(types.DefaultBidDuration), a.MaxEndTime) return a, nil } func (k Keeper) PlaceBidDebt(ctx sdk.Context, a types.DebtAuction, bidder sdk.AccAddress, lot sdk.Coin) (types.DebtAuction, sdk.Error) { // Validate New Bid 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") } if !lot.IsLT(a.Lot) { // TODO add min bid decrements return a, sdk.ErrInternal("lot not smaller than last lot") } // Move Coins if !bidder.Equals(a.Bidder) { // catch edge case of someone updating their bid with a low balance 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 } } // Update Auction a.Bidder = bidder a.Lot = lot // increment timeout a.EndTime = earliestTime(ctx.BlockTime().Add(types.DefaultBidDuration), a.MaxEndTime) return a, nil } // CloseAuction closes an auction and distributes funds to the highest bidder. func (k Keeper) CloseAuction(ctx sdk.Context, auctionID uint64) sdk.Error { // get the auction from the store auction, found := k.GetAuction(ctx, auctionID) if !found { return sdk.ErrInternal("auction doesn't exist") } // error if auction has not reached the end time 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) { case types.SurplusAuction: if err := k.PayoutSurplusAuction(ctx, auc); err != nil { return err } case types.DebtAuction: if err := k.PayoutDebtAuction(ctx, auc); err != nil { return err } case types.CollateralAuction: if err := k.PayoutCollateralAuction(ctx, auc); err != nil { return err } default: panic("unrecognized auction type") } k.DeleteAuction(ctx, auctionID) return nil } func (k Keeper) PayoutDebtAuction(ctx sdk.Context, a types.DebtAuction) sdk.Error { 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 } return nil } 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 } 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)) if err != nil { return err } return nil } // earliestTime returns the earliest of two times. func earliestTime(t1, t2 time.Time) time.Time { if t1.Before(t2) { return t1 } else { return t2 // also returned if times are equal } } 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 }