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* Use sdk.Coin in cdp module Co-authored-by: Federico Kunze <federico.kunze94@gmail.com> Co-authored-by: Federico Kunze <31522760+fedekunze@users.noreply.github.com> Co-authored-by: Denali Marsh <denali@kava.io> Co-authored-by: John Maheswaran <john@noreply>
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Begin Blocker
At the start of every block the BeginBlocker of the cdp module:
- updates fees for CDPs
- liquidates CDPs under the collateral ratio
- nets out system debt and, if necessary, starts auctions to re-balance it
- pays out the savings rate if sufficient time has past
- records the last savings rate distribution, if one occurred
Update Fees
- The total fees accumulated since the last block for each CDP are calculated.
- If the fee amount is non-zero:
- Set the updated value for fees
- Set the fees updated time for the CDP to the current block time
- An equal amount of debt coins are minted and sent to the system's CDP module account.
- An equal amount of stable asset coins are minted and sent to the system's liquidator module account
- Increment total principal.
Liquidate CDP
- Get every cdp that is under the liquidation ratio for its collateral type.
- For each cdp:
- Remove all collateral and internal debt coins from cdp and deposits and delete it. Send the coins to the liquidator module account.
- Start auctions of a fixed size from this collateral (with any remainder in a smaller sized auction), sending collateral and debt coins to the auction module account.
- Decrement total principal.
Net Out System Debt, Re-Balance
- Burn the maximum possible equal amount of debt and stable asset from the liquidator module account.
- If there is enough debt remaining for an auction, start one.
- If there is enough surplus stable asset, minus surplus reserved for the savings rate, remaining for an auction, start one.
- Otherwise do nothing, leave debt/surplus to accumulate over subsequent blocks.
Distribute Surplus Stable Asset According to the Savings Rate
- If
SavingsDistributionFrequencyseconds have elapsed since the previous distribution, the savings rate is applied to all accounts that hold stable asset. - Each account that holds stable asset is distributed a ratable portion of the surplus that is apportioned to the savings rate.
- If distribution occurred, the time of the distribution is recorded.