0g-chain/x/hard/keeper/borrow.go
2021-02-04 17:54:13 +01:00

306 lines
12 KiB
Go

package keeper
import (
"strings"
sdk "github.com/cosmos/cosmos-sdk/types"
sdkerrors "github.com/cosmos/cosmos-sdk/types/errors"
"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)
if !foundInterestFactor {
_, foundMm := k.GetMoneyMarket(ctx, coin.Denom)
if foundMm {
k.SetBorrowInterestFactor(ctx, coin.Denom, sdk.OneDec())
}
}
}
// Get current stored LTV based on stored borrows/deposits
prevLtv, err := k.GetStoreLTV(ctx, borrower)
if err != nil {
return err
}
// Call incentive hook
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
}
// 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,
)
}
}
}
}
// The first time a user borrows a denom we add it the user's borrow interest factor index
var borrowInterestFactors types.BorrowInterestFactors
currBorrow, foundBorrow := k.GetBorrow(ctx, borrower)
// On user's first borrow, build borrow index list containing denoms and current global borrow index value
if foundBorrow {
// If the coin denom to be borrowed is not in the user's existing borrow, we add it borrow index
for _, coin := range coins {
if !sdk.NewCoins(coin).DenomsSubsetOf(currBorrow.Amount) {
borrowInterestFactorValue, _ := k.GetBorrowInterestFactor(ctx, coin.Denom)
borrowInterestFactor := types.NewBorrowInterestFactor(coin.Denom, borrowInterestFactorValue)
borrowInterestFactors = append(borrowInterestFactors, borrowInterestFactor)
}
}
// Concatenate new borrow interest factors to existing borrow interest factors
borrowInterestFactors = append(borrowInterestFactors, currBorrow.Index...)
} else {
for _, coin := range coins {
borrowInterestFactorValue, _ := k.GetBorrowInterestFactor(ctx, coin.Denom)
borrowInterestFactor := types.NewBorrowInterestFactor(coin.Denom, borrowInterestFactorValue)
borrowInterestFactors = append(borrowInterestFactors, borrowInterestFactor)
}
}
// 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, borrowInterestFactors)
// Calculate the new Loan-to-Value ratio of Deposit-to-Borrow
deposit, foundDeposit := k.GetDeposit(ctx, borrower)
if !foundDeposit {
return types.ErrDepositNotFound
}
newLtv, err := k.CalculateLtv(ctx, deposit, borrow)
if err != nil {
return err
}
k.UpdateBorrowAndLtvIndex(ctx, borrow, newLtv, prevLtv)
// 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(
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
}
// 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 {
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)
}
}
// Validate that the proposed borrow's USD value is within user's borrowable limit
if proprosedBorrowUSDValue.GT(totalBorrowableAmount.Sub(existingBorrowUSDValue)) {
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 {
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, isAnyNegative := borrowedCoins.SafeSub(coins)
if isAnyNegative {
return types.ErrNegativeBorrowedCoins
}
k.SetBorrowedCoins(ctx, updatedBorrowedCoins)
return nil
}
// GetSyncedBorrow returns a borrow object containing current balances and indexes
func (k Keeper) GetSyncedBorrow(ctx sdk.Context, borrower sdk.AccAddress) (types.Borrow, bool) {
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
}
}
// 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()))
}
}
borrowIndex := types.NewBorrowInterestFactor(coin.Denom, interestFactorValue)
newBorrowIndexes = append(newBorrowIndexes, borrowIndex)
}
return types.NewBorrow(borrow.Borrower, borrow.Amount.Add(totalNewInterest...), newBorrowIndexes)
}