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mango-v4
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fees for borrows 

Signed-off-by: microwavedcola1 <microwavedcola@gmail.com>
This commit is contained in:
microwavedcola1 2022-05-09 11:14:50 +02:00
parent 3bd0b4d94c
commit 15961ec81c
7 changed files with 91 additions and 13 deletions
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5
programs/mango-v4/src/instructions/register_token.rs
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@ -92,6 +92,8 @@ pub fn register_token(
token_index: TokenIndex,
name: String,
interest_rate_params: InterestRateParams,
loan_fee_rate: f32,
loan_origination_fee_rate: f32,
maint_asset_weight: f32,
init_asset_weight: f32,
maint_liab_weight: f32,
@ -118,6 +120,9 @@ pub fn register_token(
util1: I80F48::from_num(interest_rate_params.util1),
rate1: I80F48::from_num(interest_rate_params.rate1),
max_rate: I80F48::from_num(interest_rate_params.max_rate),
collected_fees_native: I80F48::ZERO,
loan_origination_fee_rate: I80F48::from_num(loan_origination_fee_rate),
loan_fee_rate: I80F48::from_num(loan_fee_rate),
maint_asset_weight: I80F48::from_num(maint_asset_weight),
init_asset_weight: I80F48::from_num(init_asset_weight),
maint_liab_weight: I80F48::from_num(maint_liab_weight),

25
programs/mango-v4/src/instructions/withdraw.rs
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@ -1,12 +1,12 @@
use crate::error::*;
use crate::state::*;
use anchor_lang::prelude::*;
use anchor_spl::token;
use anchor_spl::token::Token;
use anchor_spl::token::TokenAccount;
use checked_math as cm;
use fixed::types::I80F48;
use crate::error::*;
use crate::state::*;
#[derive(Accounts)]
pub struct Withdraw<'info> {
pub group: AccountLoader<'info, Group>,
@ -88,14 +88,29 @@ pub fn withdraw(ctx: Context<Withdraw>, amount: u64, allow_borrow: bool) -> Resu
MangoError::SomeError
);
let amount_i80f48 = I80F48::from(amount);
// collect loan origination fee
let mut loan_origination_fees = I80F48::ZERO;
if amount_i80f48 > native_position {
let borrow_amount = cm!(amount_i80f48 - native_position);
loan_origination_fees = cm!(bank.loan_origination_fee_rate * borrow_amount);
bank.collected_fees_native = cm!(bank.collected_fees_native + loan_origination_fees);
}
// Update the bank and position
let position_is_active = bank.withdraw(position, I80F48::from(amount))?;
let position_is_active = bank.withdraw(position, cm!(amount_i80f48))?;
// Transfer the actual tokens
// TODO: This rounding may mean that if we deposit and immediately withdraw (event without borrowing)
// we can't withdraw the full amount!
let amount_to_transfer = cm!(amount_i80f48 - loan_origination_fees)
.floor()
.to_num::<u64>();
let group_seeds = group_seeds!(group);
token::transfer(
ctx.accounts.transfer_ctx().with_signer(&[group_seeds]),
amount,
amount_to_transfer,
)?;
position_is_active

4
programs/mango-v4/src/lib.rs
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@ -35,6 +35,8 @@ pub mod mango_v4 {
token_index: TokenIndex,
name: String,
interest_rate_params: InterestRateParams,
loan_fee_rate: f32,
loan_origination_fee_rate: f32,
maint_asset_weight: f32,
init_asset_weight: f32,
maint_liab_weight: f32,
@ -46,6 +48,8 @@ pub mod mango_v4 {
token_index,
name,
interest_rate_params,
loan_fee_rate,
loan_origination_fee_rate,
maint_asset_weight,
init_asset_weight,
maint_liab_weight,

58
programs/mango-v4/src/state/bank.rs
View File

@ -33,6 +33,11 @@ pub struct Bank {
pub rate1: I80F48,
pub max_rate: I80F48,
// TODO: add ix/logic to regular send this to DAO
pub collected_fees_native: I80F48,
pub loan_origination_fee_rate: I80F48,
pub loan_fee_rate: I80F48,
// This is a _lot_ of bytes (64) - seems unnecessary
// (could maybe store them in one byte each, as an informal U1F7?
// that could store values between 0-2 and converting to I80F48 would be a cheap expand+shift)
@ -54,9 +59,42 @@ pub struct Bank {
pub reserved: [u8; 6],
}
const_assert_eq!(size_of::<Bank>(), 16 + 32 * 4 + 8 + 16 * 15 + 2 + 6);
const_assert_eq!(size_of::<Bank>(), 16 + 32 * 4 + 8 + 16 * 18 + 2 + 6);
const_assert_eq!(size_of::<Bank>() % 8, 0);
impl std::fmt::Debug for Bank {
fn fmt(&self, f: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
f.debug_struct("Bank")
.field("name", &self.name())
.field("group", &self.group)
.field("mint", &self.mint)
.field("vault", &self.vault)
.field("oracle", &self.oracle)
.field("deposit_index", &self.deposit_index)
.field("borrow_index", &self.borrow_index)
.field("indexed_total_deposits", &self.indexed_total_deposits)
.field("indexed_total_borrows", &self.indexed_total_borrows)
.field("last_updated", &self.last_updated)
.field("util0", &self.util0)
.field("rate0", &self.rate0)
.field("util1", &self.util1)
.field("rate1", &self.rate1)
.field("max_rate", &self.max_rate)
.field("collected_fees_native", &self.collected_fees_native)
.field("loan_origination_fee_rate", &self.loan_origination_fee_rate)
.field("loan_fee_rate", &self.loan_fee_rate)
.field("maint_asset_weight", &self.maint_asset_weight)
.field("init_asset_weight", &self.init_asset_weight)
.field("maint_liab_weight", &self.maint_liab_weight)
.field("init_liab_weight", &self.init_liab_weight)
.field("liquidation_fee", &self.liquidation_fee)
.field("dust", &self.dust)
.field("token_index", &self.token_index)
.field("reserved", &self.reserved)
.finish()
}
}
impl Bank {
pub fn name(&self) -> &str {
std::str::from_utf8(&self.name)
@ -173,6 +211,21 @@ impl Bank {
}
pub fn update_index(&mut self, now_ts: i64) -> Result<()> {
let diff_ts = I80F48::from_num(now_ts - self.last_updated);
self.last_updated = now_ts;
// Step 1
// Borrows expose insurance fund to risk, collect fees for DAO from borrowers,
let native_total_borrows_old = self.native_total_borrows();
self.indexed_total_borrows =
cm!((self.indexed_total_borrows
* (I80F48::ONE + self.loan_fee_rate * (diff_ts / YEAR))));
self.collected_fees_native = cm!(
self.collected_fees_native + self.native_total_borrows() - native_total_borrows_old
);
// Step 2
// Update index based on utilization
let utilization = if self.native_total_deposits() == I80F48::ZERO {
I80F48::ZERO
} else {
@ -181,9 +234,6 @@ impl Bank {
let interest_rate = self.compute_interest_rate(utilization);
let diff_ts = I80F48::from_num(now_ts - self.last_updated);
self.last_updated = now_ts;
let borrow_interest: I80F48 = cm!(interest_rate * diff_ts);
let deposit_interest = cm!(borrow_interest * utilization);

4
programs/mango-v4/tests/program_test/mango_client.rs
View File

@ -452,6 +452,8 @@ pub struct RegisterTokenInstruction<'keypair> {
pub util1: f32,
pub rate1: f32,
pub max_rate: f32,
pub loan_origination_fee_rate: f32,
pub loan_fee_rate: f32,
pub maint_asset_weight: f32,
pub init_asset_weight: f32,
pub maint_liab_weight: f32,
@ -483,6 +485,8 @@ impl<'keypair> ClientInstruction for RegisterTokenInstruction<'keypair> {
rate1: self.rate1,
max_rate: self.max_rate,
},
loan_fee_rate: self.loan_fee_rate,
loan_origination_fee_rate: self.loan_origination_fee_rate,
maint_asset_weight: self.maint_asset_weight,
init_asset_weight: self.init_asset_weight,
maint_liab_weight: self.maint_liab_weight,

2
programs/mango-v4/tests/program_test/mango_setup.rs
View File

@ -77,6 +77,8 @@ impl<'a> GroupWithTokensConfig<'a> {
util1: 0.80,
rate1: 0.9,
max_rate: 1.50,
loan_origination_fee_rate: 0.0005,
loan_fee_rate: 0.0005,
maint_asset_weight: 0.8,
init_asset_weight: 0.6,
maint_liab_weight: 1.2,

6
programs/mango-v4/tests/test_position_lifetime.rs
View File

@ -202,11 +202,9 @@ async fn test_position_lifetime() -> Result<()> {
assert_eq!(account.tokens.iter_active().count(), 0);
// No user tokens got lost
// TODO: -1 is a workaround for rounding down in withdraw
for &payer_token in payer_mint_accounts {
assert_eq!(
start_balance,
solana.token_account_balance(payer_token).await
);
assert!(start_balance - 1 <= solana.token_account_balance(payer_token).await);
}
}