614 lines
18 KiB
Rust
614 lines
18 KiB
Rust
use super::*;
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#[tokio::test]
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async fn test_bankrupt_tokens_socialize_loss() -> Result<(), TransportError> {
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let mut test_builder = TestContextBuilder::new();
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test_builder.test().set_compute_max_units(85_000); // TokenLiqWithToken needs 84k
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let context = test_builder.start_default().await;
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let solana = &context.solana.clone();
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let admin = TestKeypair::new();
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let owner = context.users[0].key;
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let payer = context.users[1].key;
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let mints = &context.mints[0..4];
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let payer_mint_accounts = &context.users[1].token_accounts[0..4];
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//
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// SETUP: Create a group and an account to fill the vaults
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//
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let GroupWithTokens { group, tokens, .. } = GroupWithTokensConfig {
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admin,
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payer,
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mints: mints.to_vec(),
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..GroupWithTokensConfig::default()
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}
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.create(solana)
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.await;
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let borrow_token1 = &tokens[0];
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let borrow_token2 = &tokens[1];
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let collateral_token1 = &tokens[2];
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let collateral_token2 = &tokens[3];
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// deposit some funds, to the vaults aren't empty
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let vault_amount = 100000;
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let vault_account = create_funded_account(
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&solana,
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group,
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owner,
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2,
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&context.users[1],
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mints,
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vault_amount,
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1,
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)
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.await;
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// Also add a tiny amount to bank0 for borrow_token1, so we can test multi-bank socialized loss.
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// It must be enough to not trip the borrow limits on the bank.
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send_tx(
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solana,
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TokenDepositInstruction {
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amount: 20,
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reduce_only: false,
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account: vault_account,
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owner,
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token_account: payer_mint_accounts[0],
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token_authority: payer.clone(),
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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//
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// SETUP: Make an account with some collateral and some borrows
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//
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let account = send_tx(
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solana,
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AccountCreateInstruction {
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account_num: 0,
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token_count: 16,
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serum3_count: 8,
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perp_count: 8,
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perp_oo_count: 8,
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group,
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owner,
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payer,
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},
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)
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.await
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.unwrap()
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.account;
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let deposit1_amount = 1000;
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let deposit2_amount = 20;
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send_tx(
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solana,
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TokenDepositInstruction {
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amount: deposit1_amount,
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reduce_only: false,
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account,
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owner,
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token_account: payer_mint_accounts[2],
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token_authority: payer.clone(),
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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send_tx(
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solana,
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TokenDepositInstruction {
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amount: deposit2_amount,
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reduce_only: false,
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account,
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owner,
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token_account: payer_mint_accounts[3],
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token_authority: payer.clone(),
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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let borrow1_amount = 350;
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let borrow1_amount_bank0 = 10;
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let borrow1_amount_bank1 = borrow1_amount - borrow1_amount_bank0;
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let borrow2_amount = 50;
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send_tx(
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solana,
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TokenWithdrawInstruction {
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amount: borrow1_amount_bank1,
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allow_borrow: true,
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account,
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owner,
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token_account: payer_mint_accounts[0],
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bank_index: 1,
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},
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)
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.await
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.unwrap();
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send_tx(
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solana,
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TokenWithdrawInstruction {
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amount: borrow1_amount_bank0,
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allow_borrow: true,
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account,
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owner,
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token_account: payer_mint_accounts[0],
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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send_tx(
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solana,
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TokenWithdrawInstruction {
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amount: borrow2_amount,
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allow_borrow: true,
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account,
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owner,
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token_account: payer_mint_accounts[1],
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bank_index: 1,
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},
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)
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.await
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.unwrap();
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//
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// SETUP: Change the oracle to make health go very negative
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//
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set_bank_stub_oracle_price(solana, group, borrow_token1, admin, 20.0).await;
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//
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// SETUP: liquidate all the collateral against borrow1
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//
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// eat collateral1
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send_tx(
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solana,
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TokenLiqWithTokenInstruction {
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liqee: account,
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liqor: vault_account,
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liqor_owner: owner,
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asset_token_index: collateral_token1.index,
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asset_bank_index: 1,
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liab_token_index: borrow_token1.index,
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liab_bank_index: 1,
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max_liab_transfer: I80F48::from_num(100000.0),
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},
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)
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.await
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.unwrap();
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assert!(account_position_closed(solana, account, collateral_token1.bank).await);
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assert_eq!(
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account_position(solana, account, borrow_token1.bank).await,
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(-350.0f64 + (1000.0 / 20.0 / 1.04)).round() as i64
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);
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let liqee = get_mango_account(solana, account).await;
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assert!(liqee.being_liquidated());
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// eat collateral2, leaving the account bankrupt
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send_tx(
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solana,
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TokenLiqWithTokenInstruction {
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liqee: account,
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liqor: vault_account,
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liqor_owner: owner,
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asset_token_index: collateral_token2.index,
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asset_bank_index: 1,
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liab_token_index: borrow_token1.index,
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liab_bank_index: 1,
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max_liab_transfer: I80F48::from_num(100000.0),
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},
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)
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.await
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.unwrap();
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assert!(account_position_closed(solana, account, collateral_token2.bank).await);
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let borrow1_after_liq = -350.0f64 + (1000.0 / 20.0 / 1.04) + (20.0 / 20.0 / 1.04);
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assert_eq!(
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account_position(solana, account, borrow_token1.bank).await,
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borrow1_after_liq.round() as i64
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);
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let liqee = get_mango_account(solana, account).await;
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assert!(liqee.being_liquidated());
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//
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// TEST: socialize loss on borrow1 and 2
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//
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let vault_before = account_position(solana, vault_account, borrow_token1.bank).await;
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send_tx(
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solana,
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TokenLiqBankruptcyInstruction {
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liqee: account,
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liqor: vault_account,
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liqor_owner: owner,
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liab_mint_info: borrow_token1.mint_info,
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max_liab_transfer: I80F48::from_num(100000.0),
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},
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)
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.await
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.unwrap();
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assert_eq!(
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account_position(solana, vault_account, borrow_token1.bank).await,
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vault_before + (borrow1_after_liq.round() as i64)
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);
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let liqee = get_mango_account(solana, account).await;
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assert!(liqee.being_liquidated());
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assert!(account_position_closed(solana, account, borrow_token1.bank).await);
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// both bank's borrows were completely wiped: no one else borrowed
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let borrow1_bank0: Bank = solana.get_account(borrow_token1.bank).await;
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let borrow1_bank1: Bank = solana.get_account(borrow_token1.bank).await;
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assert_eq!(borrow1_bank0.native_borrows(), 0);
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assert_eq!(borrow1_bank1.native_borrows(), 0);
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send_tx(
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solana,
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TokenLiqBankruptcyInstruction {
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liqee: account,
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liqor: vault_account,
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liqor_owner: owner,
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liab_mint_info: borrow_token2.mint_info,
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max_liab_transfer: I80F48::from_num(100000.0),
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},
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)
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.await
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.unwrap();
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assert_eq!(
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account_position(solana, vault_account, borrow_token2.bank).await,
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(vault_amount - borrow2_amount) as i64
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);
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let liqee = get_mango_account(solana, account).await;
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assert!(!liqee.being_liquidated());
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assert!(account_position_closed(solana, account, borrow_token2.bank).await);
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Ok(())
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}
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#[tokio::test]
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async fn test_bankrupt_tokens_insurance_fund() -> Result<(), TransportError> {
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let mut test_builder = TestContextBuilder::new();
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test_builder.test().set_compute_max_units(85_000); // TokenLiqWithToken needs 84k
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let context = test_builder.start_default().await;
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let solana = &context.solana.clone();
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let admin = TestKeypair::new();
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let owner = context.users[0].key;
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let payer = context.users[1].key;
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let mints = &context.mints[0..4];
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let payer_mint_accounts = &context.users[1].token_accounts[0..4];
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//
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// SETUP: Create a group and an account to fill the vaults
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//
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let mango_setup::GroupWithTokens {
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group,
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tokens,
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insurance_vault,
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} = mango_setup::GroupWithTokensConfig {
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admin,
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payer,
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mints: mints.to_vec(),
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..GroupWithTokensConfig::default()
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}
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.create(solana)
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.await;
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let borrow_token1 = &tokens[0]; // USDC
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let borrow_token2 = &tokens[1];
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let collateral_token1 = &tokens[2];
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let collateral_token2 = &tokens[3];
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// fund the insurance vault
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{
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let mut tx = ClientTransaction::new(solana);
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tx.add_instruction_direct(
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spl_token::instruction::transfer(
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&spl_token::ID,
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&payer_mint_accounts[0],
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&insurance_vault,
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&payer.pubkey(),
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&[&payer.pubkey()],
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1051,
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)
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.unwrap(),
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);
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tx.add_signer(payer);
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tx.send().await.unwrap();
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}
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// deposit some funds, to the vaults aren't empty
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let vault_account = send_tx(
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solana,
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AccountCreateInstruction {
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account_num: 2,
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token_count: 16,
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serum3_count: 8,
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perp_count: 8,
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perp_oo_count: 8,
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group,
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owner,
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payer,
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},
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)
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.await
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.unwrap()
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.account;
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let vault_amount = 100000;
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for &token_account in payer_mint_accounts {
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send_tx(
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solana,
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TokenDepositInstruction {
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amount: vault_amount,
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reduce_only: false,
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account: vault_account,
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owner,
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token_account,
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token_authority: payer.clone(),
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bank_index: 1,
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},
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)
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.await
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.unwrap();
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}
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// Also add a tiny amount to bank0 for borrow_token1, so we can test multi-bank socialized loss.
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// It must be enough to not trip the borrow limits on the bank.
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send_tx(
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solana,
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TokenDepositInstruction {
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amount: 20,
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reduce_only: false,
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account: vault_account,
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owner,
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token_account: payer_mint_accounts[0],
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token_authority: payer.clone(),
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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//
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// SETUP: Make an account with some collateral and some borrows
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//
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let account = send_tx(
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solana,
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AccountCreateInstruction {
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account_num: 0,
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token_count: 16,
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serum3_count: 8,
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perp_count: 8,
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perp_oo_count: 8,
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group,
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owner,
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payer,
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},
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)
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.await
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.unwrap()
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.account;
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let deposit1_amount = 20;
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let deposit2_amount = 1000;
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send_tx(
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solana,
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TokenDepositInstruction {
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amount: deposit1_amount,
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reduce_only: false,
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account,
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owner,
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token_account: payer_mint_accounts[2],
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token_authority: payer.clone(),
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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send_tx(
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solana,
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TokenDepositInstruction {
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amount: deposit2_amount,
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reduce_only: false,
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account,
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owner,
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token_account: payer_mint_accounts[3],
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token_authority: payer.clone(),
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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let borrow1_amount = 50;
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let borrow1_amount_bank0 = 10;
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let borrow1_amount_bank1 = borrow1_amount - borrow1_amount_bank0;
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let borrow2_amount = 350;
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send_tx(
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solana,
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TokenWithdrawInstruction {
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amount: borrow1_amount_bank1,
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allow_borrow: true,
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account,
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owner,
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token_account: payer_mint_accounts[0],
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bank_index: 1,
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},
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)
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.await
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.unwrap();
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send_tx(
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solana,
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TokenWithdrawInstruction {
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amount: borrow1_amount_bank0,
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allow_borrow: true,
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account,
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owner,
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token_account: payer_mint_accounts[0],
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bank_index: 0,
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},
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)
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.await
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.unwrap();
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send_tx(
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solana,
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TokenWithdrawInstruction {
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amount: borrow2_amount,
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allow_borrow: true,
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account,
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owner,
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token_account: payer_mint_accounts[1],
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bank_index: 1,
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},
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)
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.await
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.unwrap();
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//
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// SETUP: Change the oracle to make health go very negative
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//
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set_bank_stub_oracle_price(solana, group, borrow_token2, admin, 20.0).await;
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//
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// SETUP: liquidate all the collateral against borrow2
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//
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// eat collateral1
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send_tx(
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solana,
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TokenLiqWithTokenInstruction {
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liqee: account,
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liqor: vault_account,
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liqor_owner: owner,
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asset_token_index: collateral_token1.index,
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asset_bank_index: 1,
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liab_token_index: borrow_token2.index,
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liab_bank_index: 1,
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max_liab_transfer: I80F48::from_num(100000.0),
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},
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)
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.await
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.unwrap();
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assert!(account_position_closed(solana, account, collateral_token1.bank).await);
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let liqee = get_mango_account(solana, account).await;
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assert!(liqee.being_liquidated());
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// eat collateral2, leaving the account bankrupt
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send_tx(
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solana,
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TokenLiqWithTokenInstruction {
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liqee: account,
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liqor: vault_account,
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liqor_owner: owner,
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asset_token_index: collateral_token2.index,
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asset_bank_index: 1,
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liab_token_index: borrow_token2.index,
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liab_bank_index: 1,
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max_liab_transfer: I80F48::from_num(100000.0),
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},
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)
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.await
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.unwrap();
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assert!(account_position_closed(solana, account, collateral_token2.bank).await,);
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let liqee = get_mango_account(solana, account).await;
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assert!(liqee.being_liquidated());
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//
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// TEST: use the insurance fund to liquidate borrow1 and borrow2
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//
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// bankruptcy of an USDC liability: just transfers funds from insurance vault to liqee,
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// the liqor is uninvolved
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let insurance_vault_before = solana.token_account_balance(insurance_vault).await;
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let liqor_before = account_position(solana, vault_account, borrow_token1.bank).await;
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send_tx(
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solana,
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TokenLiqBankruptcyInstruction {
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liqee: account,
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liqor: vault_account,
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liqor_owner: owner,
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liab_mint_info: borrow_token1.mint_info,
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max_liab_transfer: I80F48::from_num(100000.0),
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},
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)
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.await
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.unwrap();
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let liqee = get_mango_account(solana, account).await;
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assert!(liqee.being_liquidated());
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assert!(account_position_closed(solana, account, borrow_token1.bank).await);
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assert_eq!(
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solana.token_account_balance(insurance_vault).await,
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// the loan origination fees push the borrow above 50.0 and cause this rounding
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insurance_vault_before - borrow1_amount - 1
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);
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assert_eq!(
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account_position(solana, vault_account, borrow_token1.bank).await,
|
|
liqor_before
|
|
);
|
|
|
|
// bankruptcy of a non-USDC liability: USDC to liqor, liability to liqee
|
|
// liquidating only a partial amount
|
|
let liab_before = account_position_f64(solana, account, borrow_token2.bank).await;
|
|
let insurance_vault_before = solana.token_account_balance(insurance_vault).await;
|
|
let liqor_before = account_position(solana, vault_account, borrow_token1.bank).await;
|
|
let liab_transfer: f64 = 500.0 / 20.0;
|
|
send_tx(
|
|
solana,
|
|
TokenLiqBankruptcyInstruction {
|
|
liqee: account,
|
|
liqor: vault_account,
|
|
liqor_owner: owner,
|
|
liab_mint_info: borrow_token2.mint_info,
|
|
max_liab_transfer: I80F48::from_num(liab_transfer),
|
|
},
|
|
)
|
|
.await
|
|
.unwrap();
|
|
let liqee = get_mango_account(solana, account).await;
|
|
assert!(liqee.being_liquidated());
|
|
assert!(account_position_closed(solana, account, borrow_token1.bank).await);
|
|
assert_eq!(
|
|
account_position(solana, account, borrow_token2.bank).await,
|
|
(liab_before + liab_transfer) as i64
|
|
);
|
|
let usdc_amount = (liab_transfer * 20.0 * 1.02).ceil() as u64;
|
|
assert_eq!(
|
|
solana.token_account_balance(insurance_vault).await,
|
|
insurance_vault_before - usdc_amount
|
|
);
|
|
assert_eq!(
|
|
account_position(solana, vault_account, borrow_token1.bank).await,
|
|
liqor_before + usdc_amount as i64
|
|
);
|
|
|
|
// bankruptcy of a non-USDC liability: USDC to liqor, liability to liqee
|
|
// liquidating fully and then doing socialized loss because the insurance fund is exhausted
|
|
let insurance_vault_before = solana.token_account_balance(insurance_vault).await;
|
|
let liqor_before = account_position(solana, vault_account, borrow_token1.bank).await;
|
|
send_tx(
|
|
solana,
|
|
TokenLiqBankruptcyInstruction {
|
|
liqee: account,
|
|
liqor: vault_account,
|
|
liqor_owner: owner,
|
|
liab_mint_info: borrow_token2.mint_info,
|
|
max_liab_transfer: I80F48::from_num(1000000.0),
|
|
},
|
|
)
|
|
.await
|
|
.unwrap();
|
|
let liqee = get_mango_account(solana, account).await;
|
|
assert!(!liqee.being_liquidated());
|
|
assert!(account_position_closed(solana, account, borrow_token1.bank).await);
|
|
assert!(account_position_closed(solana, account, borrow_token2.bank).await);
|
|
assert_eq!(solana.token_account_balance(insurance_vault).await, 0);
|
|
assert_eq!(
|
|
account_position(solana, vault_account, borrow_token1.bank).await,
|
|
liqor_before + insurance_vault_before as i64
|
|
);
|
|
|
|
Ok(())
|
|
}
|