use super::{TokenAccount, TokenIndex}; use crate::util::checked_math as cm; use anchor_lang::prelude::*; use fixed::types::I80F48; use fixed_macro::types::I80F48; use static_assertions::const_assert_eq; use std::mem::size_of; pub const YEAR: I80F48 = I80F48!(31536000); #[account(zero_copy)] pub struct Bank { pub name: [u8; 16], pub group: Pubkey, pub mint: Pubkey, pub vault: Pubkey, pub oracle: Pubkey, /// the index used to scale the value of an IndexedPosition /// TODO: should always be >= 0, add checks? pub deposit_index: I80F48, pub borrow_index: I80F48, /// total deposits/borrows, for utilization pub indexed_total_deposits: I80F48, pub indexed_total_borrows: I80F48, pub last_updated: i64, pub util0: I80F48, pub rate0: I80F48, pub util1: I80F48, pub rate1: I80F48, pub max_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) pub maint_asset_weight: I80F48, pub init_asset_weight: I80F48, pub maint_liab_weight: I80F48, pub init_liab_weight: I80F48, // a fraction of the price, like 0.05 for a 5% fee during liquidation // // Liquidation always involves two tokens, and the sum of the two configured fees is used. pub liquidation_fee: I80F48, // Collection of all fractions-of-native-tokens that got rounded away pub dust: I80F48, // Index into TokenInfo on the group pub token_index: TokenIndex, pub reserved: [u8; 6], } const_assert_eq!(size_of::(), 16 + 32 * 4 + 8 + 16 * 15 + 2 + 6); const_assert_eq!(size_of::() % 8, 0); impl Bank { pub fn native_total_borrows(&self) -> I80F48 { self.borrow_index * self.indexed_total_borrows } pub fn native_total_deposits(&self) -> I80F48 { self.deposit_index * self.indexed_total_deposits } /// Returns whether the position is active /// /// native_amount must be >= 0 /// fractional deposits can be relevant during liquidation, for example pub fn deposit( &mut self, position: &mut TokenAccount, mut native_amount: I80F48, ) -> Result { let native_position = position.native(self); if native_position.is_negative() { let new_native_position = cm!(native_position + native_amount); if !new_native_position.is_positive() { // pay back borrows only, leaving a negative position let indexed_change = cm!(native_amount / self.borrow_index + I80F48::DELTA); self.indexed_total_borrows = cm!(self.indexed_total_borrows - indexed_change); position.indexed_value = cm!(position.indexed_value + indexed_change); return Ok(true); } else if new_native_position < I80F48::ONE && !position.is_in_use() { // if there's less than one token deposited, zero the position self.dust = cm!(self.dust + new_native_position); self.indexed_total_borrows = cm!(self.indexed_total_borrows + position.indexed_value); position.indexed_value = I80F48::ZERO; return Ok(false); } // pay back all borrows self.indexed_total_borrows = cm!(self.indexed_total_borrows + position.indexed_value); // position.value is negative position.indexed_value = I80F48::ZERO; // deposit the rest native_amount = cm!(native_amount + native_position); } // add to deposits // Adding DELTA to amount/index helps because (amount/index)*index <= amount, but // we want to ensure that users can withdraw the same amount they have deposited, so // (amount/index + delta)*index >= amount is a better guarantee. let indexed_change = cm!(native_amount / self.deposit_index + I80F48::DELTA); self.indexed_total_deposits = cm!(self.indexed_total_deposits + indexed_change); position.indexed_value = cm!(position.indexed_value + indexed_change); Ok(true) } /// Returns whether the position is active /// /// native_amount must be >= 0 /// fractional withdraws can be relevant during liquidation, for example pub fn withdraw( &mut self, position: &mut TokenAccount, mut native_amount: I80F48, ) -> Result { let native_position = position.native(self); if native_position.is_positive() { let new_native_position = cm!(native_position - native_amount); if !new_native_position.is_negative() { // withdraw deposits only if new_native_position < I80F48::ONE && !position.is_in_use() { // zero the account collecting the leftovers in `dust` self.dust = cm!(self.dust + new_native_position); self.indexed_total_deposits = cm!(self.indexed_total_deposits - position.indexed_value); position.indexed_value = I80F48::ZERO; return Ok(false); } else { // withdraw some deposits leaving a positive balance let indexed_change = cm!(native_amount / self.deposit_index); self.indexed_total_deposits = cm!(self.indexed_total_deposits - indexed_change); position.indexed_value = cm!(position.indexed_value - indexed_change); return Ok(true); } } // withdraw all deposits self.indexed_total_deposits = cm!(self.indexed_total_deposits - position.indexed_value); position.indexed_value = I80F48::ZERO; // borrow the rest native_amount = -new_native_position; } // add to borrows let indexed_change = cm!(native_amount / self.borrow_index); self.indexed_total_borrows = cm!(self.indexed_total_borrows + indexed_change); position.indexed_value = cm!(position.indexed_value - indexed_change); Ok(true) } pub fn change(&mut self, position: &mut TokenAccount, native_amount: I80F48) -> Result { if native_amount >= 0 { self.deposit(position, native_amount) } else { self.withdraw(position, -native_amount) } } pub fn update_index(&mut self, now_ts: i64) -> Result<()> { let utilization = if self.native_total_deposits() == I80F48::ZERO { I80F48::ZERO } else { cm!(self.native_total_borrows() / self.native_total_deposits()) }; 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); if borrow_interest <= I80F48::ZERO || deposit_interest <= I80F48::ZERO { return Ok(()); } self.borrow_index = cm!((self.borrow_index * borrow_interest) / YEAR + self.borrow_index); self.deposit_index = cm!((self.deposit_index * deposit_interest) / YEAR + self.deposit_index); Ok(()) } /// returns the current interest rate in APR #[inline(always)] pub fn compute_interest_rate(&self, utilization: I80F48) -> I80F48 { Bank::interest_rate_curve_calculator( utilization, self.util0, self.rate0, self.util1, self.rate1, self.max_rate, ) } /// calcualtor function that can be used to compute an interest /// rate based on the given parameters #[inline(always)] pub fn interest_rate_curve_calculator( utilization: I80F48, util0: I80F48, rate0: I80F48, util1: I80F48, rate1: I80F48, max_rate: I80F48, ) -> I80F48 { if utilization <= util0 { let slope = cm!(rate0 / util0); cm!(slope * utilization) } else if utilization <= util1 { let extra_util = cm!(utilization - util0); let slope = cm!((rate1 - rate0) / (util1 - util0)); cm!(rate0 + slope * extra_util) } else { let extra_util = cm!(utilization - util1); let slope = cm!((max_rate - rate1) / (I80F48::ONE - util1)); cm!(rate1 + slope * extra_util) } } } #[cfg(test)] mod tests { use bytemuck::Zeroable; use super::*; #[test] pub fn change() -> Result<()> { let epsilon = I80F48::from_bits(1); let cases = [ (-10.1, 1), (-10.1, 10), (-10.1, 11), (-10.1, 50), (-2.0, 2), (-2.0, 3), (-0.1, 1), (0.0, 1), (0.1, 1), (10.1, -1), (10.1, -9), (10.1, -10), (10.1, -11), (1.0, -1), (0.1, -1), (0.0, -1), (-0.1, -1), (-1.1, -10), ]; for is_in_use in [false, true] { for (start, change) in cases { println!( "testing: in use: {}, start: {}, change: {}", is_in_use, start, change ); // // SETUP // let mut bank = Bank::zeroed(); bank.deposit_index = I80F48::from_num(100.0); bank.borrow_index = I80F48::from_num(10.0); let indexed = |v: I80F48, b: &Bank| { if v > 0 { v / b.deposit_index } else { v / b.borrow_index } }; let mut account = TokenAccount { indexed_value: I80F48::ZERO, token_index: 0, in_use_count: if is_in_use { 1 } else { 0 }, reserved: Default::default(), }; account.indexed_value = indexed(I80F48::from_num(start), &bank); if start >= 0.0 { bank.indexed_total_deposits = account.indexed_value; } else { bank.indexed_total_borrows = -account.indexed_value; } // get the rounded start value let start_native = account.native(&bank); // // TEST // let change = I80F48::from(change); let is_active = bank.change(&mut account, change)?; let mut expected_native = start_native + change; if expected_native >= 0.0 && expected_native < 1.0 && !is_in_use { assert!(!is_active); assert_eq!(bank.dust, expected_native); expected_native = I80F48::ZERO; } else { assert!(is_active); assert_eq!(bank.dust, I80F48::ZERO); } let expected_indexed = indexed(expected_native, &bank); // at most one epsilon error in the resulting indexed value assert!((account.indexed_value - expected_indexed).abs() <= epsilon); if account.indexed_value.is_positive() { assert_eq!(bank.indexed_total_deposits, account.indexed_value); assert_eq!(bank.indexed_total_borrows, I80F48::ZERO); } else { assert_eq!(bank.indexed_total_deposits, I80F48::ZERO); assert_eq!(bank.indexed_total_borrows, -account.indexed_value); } } } Ok(()) } }