55 lines
1.9 KiB
TypeScript
55 lines
1.9 KiB
TypeScript
import { useMemo } from 'react'
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import useMangoGroup from './useMangoGroup'
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import { floorToDecimal } from 'utils/numbers'
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import { JLP_BORROW_TOKEN, LST_BORROW_TOKEN } from 'utils/constants'
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import { getStakableTokensDataForTokenName } from 'utils/tokens'
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export default function useLeverageMax(selectedToken: string) {
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const { jlpGroup, lstGroup } = useMangoGroup()
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const [stakeBank, borrowBank] = useMemo(() => {
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const isJlpGroup = selectedToken === 'JLP' || selectedToken === 'USDC'
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const stakeBank = isJlpGroup
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? jlpGroup?.banksMapByName.get(selectedToken)?.[0]
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: lstGroup?.banksMapByName.get(selectedToken)?.[0]
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const borrowBank = isJlpGroup
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? jlpGroup?.banksMapByName.get(JLP_BORROW_TOKEN)?.[0]
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: lstGroup?.banksMapByName.get(LST_BORROW_TOKEN)?.[0]
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return [stakeBank, borrowBank]
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}, [selectedToken, jlpGroup, lstGroup])
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const leverageMax = useMemo(() => {
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if (!stakeBank || !borrowBank) return 0
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const borrowInitLiabWeight = borrowBank.scaledInitLiabWeight(
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borrowBank.price,
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)
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const stakeInitAssetWeight = stakeBank.scaledInitAssetWeight(
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stakeBank.price,
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)
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if (!borrowInitLiabWeight || !stakeInitAssetWeight) return 1
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const x = stakeInitAssetWeight.toNumber() / borrowInitLiabWeight.toNumber()
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if (
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getStakableTokensDataForTokenName(selectedToken).clientContext === 'jlp'
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) {
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const leverageFactor = 1 / (1 - x)
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const max = floorToDecimal(leverageFactor, 1).toNumber()
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return max * 0.9 // Multiplied by 0.975 because you cant actually get to the end of the infinite geometric series?
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} else {
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const conversionRate = borrowBank.uiPrice / stakeBank.uiPrice
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const y = 1 - conversionRate * stakeInitAssetWeight.toNumber()
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const max = floorToDecimal(1 + (x / y) * 0.9, 1).toNumber()
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return max
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}
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}, [stakeBank, borrowBank, selectedToken])
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return leverageMax
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}
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