// SPDX-License-Identifier: agpl-3.0 pragma solidity ^0.6.8; import {SafeMath} from '@openzeppelin/contracts/math/SafeMath.sol'; import {IERC20} from '@openzeppelin/contracts/token/ERC20/IERC20.sol'; import {MathUtils} from '../math/MathUtils.sol'; import {IPriceOracleGetter} from '../../interfaces/IPriceOracleGetter.sol'; import {SafeERC20} from '@openzeppelin/contracts/token/ERC20/SafeERC20.sol'; import {IAToken} from '../../tokenization/interfaces/IAToken.sol'; import {IStableDebtToken} from '../../tokenization/interfaces/IStableDebtToken.sol'; import {IVariableDebtToken} from '../../tokenization/interfaces/IVariableDebtToken.sol'; import {ReserveConfiguration} from '../configuration/ReserveConfiguration.sol'; import {IReserveInterestRateStrategy} from '../../interfaces/IReserveInterestRateStrategy.sol'; import {WadRayMath} from '../math/WadRayMath.sol'; import {PercentageMath} from '../math/PercentageMath.sol'; import {Errors} from '../helpers/Errors.sol'; /** * @title ReserveLogic library * @author Aave * @notice Implements the logic to update the state of the reserves */ library ReserveLogic { using SafeMath for uint256; using WadRayMath for uint256; using PercentageMath for uint256; using SafeERC20 for IERC20; /** * @dev Emitted when the state of a reserve is updated * @param reserve the address of the reserve * @param liquidityRate the new liquidity rate * @param stableBorrowRate the new stable borrow rate * @param variableBorrowRate the new variable borrow rate * @param liquidityIndex the new liquidity index * @param variableBorrowIndex the new variable borrow index **/ event ReserveDataUpdated( address indexed reserve, uint256 liquidityRate, uint256 stableBorrowRate, uint256 variableBorrowRate, uint256 liquidityIndex, uint256 variableBorrowIndex ); using ReserveLogic for ReserveLogic.ReserveData; using ReserveConfiguration for ReserveConfiguration.Map; enum InterestRateMode {NONE, STABLE, VARIABLE} // refer to the whitepaper, section 1.1 basic concepts for a formal description of these properties. struct ReserveData { //stores the reserve configuration ReserveConfiguration.Map configuration; //the liquidity index. Expressed in ray uint128 liquidityIndex; //variable borrow index. Expressed in ray uint128 variableBorrowIndex; //the current supply rate. Expressed in ray uint128 currentLiquidityRate; //the current variable borrow rate. Expressed in ray uint128 currentVariableBorrowRate; //the current stable borrow rate. Expressed in ray uint128 currentStableBorrowRate; uint40 lastUpdateTimestamp; //tokens addresses address aTokenAddress; address stableDebtTokenAddress; address variableDebtTokenAddress; //address of the interest rate strategy address interestRateStrategyAddress; //the id of the reserve. Represents the position in the list of the active reserves uint8 id; } /** * @dev returns the ongoing normalized income for the reserve. * a value of 1e27 means there is no income. As time passes, the income is accrued. * A value of 2*1e27 means for each unit of assset two units of income have been accrued. * @param reserve the reserve object * @return the normalized income. expressed in ray **/ function getNormalizedIncome(ReserveData storage reserve) internal view returns (uint256) { uint40 timestamp = reserve.lastUpdateTimestamp; //solium-disable-next-line if (timestamp == uint40(block.timestamp)) { //if the index was updated in the same block, no need to perform any calculation return reserve.liquidityIndex; } uint256 cumulated = MathUtils .calculateLinearInterest(reserve.currentLiquidityRate, timestamp) .rayMul(reserve.liquidityIndex); return cumulated; } /** * @dev returns the ongoing normalized variable debt for the reserve. * a value of 1e27 means there is no debt. As time passes, the income is accrued. * A value of 2*1e27 means that the debt of the reserve is double the initial amount. * @param reserve the reserve object * @return the normalized variable debt. expressed in ray **/ function getNormalizedDebt(ReserveData storage reserve) internal view returns (uint256) { uint40 timestamp = reserve.lastUpdateTimestamp; //solium-disable-next-line if (timestamp == uint40(block.timestamp)) { //if the index was updated in the same block, no need to perform any calculation return reserve.variableBorrowIndex; } uint256 cumulated = MathUtils .calculateCompoundedInterest(reserve.currentVariableBorrowRate, timestamp) .rayMul(reserve.variableBorrowIndex); return cumulated; } /** * @dev returns an address of the debt token used for particular interest rate mode on asset. * @param reserve the reserve object * @param interestRateMode - STABLE or VARIABLE from ReserveLogic.InterestRateMode enum * @return an address of the corresponding debt token from reserve configuration **/ function getDebtTokenAddress(ReserveLogic.ReserveData storage reserve, uint256 interestRateMode) external view returns (address) { require( ReserveLogic.InterestRateMode.STABLE == ReserveLogic.InterestRateMode(interestRateMode) || ReserveLogic.InterestRateMode.VARIABLE == ReserveLogic.InterestRateMode(interestRateMode), Errors.INVALID_INTEREST_RATE_MODE_SELECTED ); return ReserveLogic.InterestRateMode.STABLE == ReserveLogic.InterestRateMode(interestRateMode) ? reserve.stableDebtTokenAddress : reserve.variableDebtTokenAddress; } /** * @dev Updates the liquidity cumulative index Ci and variable borrow cumulative index Bvc. Refer to the whitepaper for * a formal specification. * @param reserve the reserve object **/ function updateState(ReserveData storage reserve) external { address variableDebtToken = reserve.variableDebtTokenAddress; uint256 previousVariableBorrowIndex = reserve.variableBorrowIndex; uint256 previousLiquidityIndex = reserve.liquidityIndex; (uint256 newLiquidityIndex, uint256 newVariableBorrowIndex) = _updateIndexes( reserve, variableDebtToken, previousLiquidityIndex, previousVariableBorrowIndex ); _mintToTreasury( reserve, variableDebtToken, previousVariableBorrowIndex, newLiquidityIndex, newVariableBorrowIndex ); } /** * @dev accumulates a predefined amount of asset to the reserve as a fixed, one time income. Used for example to accumulate * the flashloan fee to the reserve, and spread it through the depositors. * @param reserve the reserve object * @param totalLiquidity the total liquidity available in the reserve * @param amount the amount to accomulate **/ function cumulateToLiquidityIndex( ReserveData storage reserve, uint256 totalLiquidity, uint256 amount ) external { uint256 amountToLiquidityRatio = amount.wadToRay().rayDiv(totalLiquidity.wadToRay()); uint256 result = amountToLiquidityRatio.add(WadRayMath.ray()); result = result.rayMul(reserve.liquidityIndex); require(result < (1 << 128), Errors.LIQUIDITY_INDEX_OVERFLOW); reserve.liquidityIndex = uint128(result); } /** * @dev initializes a reserve * @param reserve the reserve object * @param aTokenAddress the address of the overlying atoken contract * @param interestRateStrategyAddress the address of the interest rate strategy contract **/ function init( ReserveData storage reserve, address aTokenAddress, address stableDebtTokenAddress, address variableDebtTokenAddress, address interestRateStrategyAddress ) external { require(reserve.aTokenAddress == address(0), Errors.RESERVE_ALREADY_INITIALIZED); if (reserve.liquidityIndex == 0) { //if the reserve has not been initialized yet reserve.liquidityIndex = uint128(WadRayMath.ray()); } if (reserve.variableBorrowIndex == 0) { reserve.variableBorrowIndex = uint128(WadRayMath.ray()); } reserve.aTokenAddress = aTokenAddress; reserve.stableDebtTokenAddress = stableDebtTokenAddress; reserve.variableDebtTokenAddress = variableDebtTokenAddress; reserve.interestRateStrategyAddress = interestRateStrategyAddress; } struct UpdateInterestRatesLocalVars { address stableDebtTokenAddress; uint256 availableLiquidity; uint256 totalStableDebt; uint256 newLiquidityRate; uint256 newStableRate; uint256 newVariableRate; uint256 avgStableRate; } /** * @dev Updates the reserve current stable borrow rate Rf, the current variable borrow rate Rv and the current liquidity rate Rl. * Also updates the lastUpdateTimestamp value. Please refer to the whitepaper for further information. * @param reserve the address of the reserve to be updated * @param liquidityAdded the amount of liquidity added to the protocol (deposit or repay) in the previous action * @param liquidityTaken the amount of liquidity taken from the protocol (redeem or borrow) **/ function updateInterestRates( ReserveData storage reserve, address reserveAddress, address aTokenAddress, uint256 liquidityAdded, uint256 liquidityTaken ) external { UpdateInterestRatesLocalVars memory vars; vars.stableDebtTokenAddress = reserve.stableDebtTokenAddress; (vars.totalStableDebt, vars.avgStableRate) = IStableDebtToken(vars.stableDebtTokenAddress) .getTotalSupplyAndAvgRate(); vars.availableLiquidity = IERC20(reserveAddress).balanceOf(aTokenAddress); ( vars.newLiquidityRate, vars.newStableRate, vars.newVariableRate ) = IReserveInterestRateStrategy(reserve.interestRateStrategyAddress).calculateInterestRates( reserveAddress, vars.availableLiquidity.add(liquidityAdded).sub(liquidityTaken), vars.totalStableDebt, IERC20(reserve.variableDebtTokenAddress).totalSupply(), vars.avgStableRate, reserve.configuration.getReserveFactor() ); require(vars.newLiquidityRate < (1 << 128), 'ReserveLogic: Liquidity rate overflow'); require(vars.newStableRate < (1 << 128), 'ReserveLogic: Stable borrow rate overflow'); require(vars.newVariableRate < (1 << 128), 'ReserveLogic: Variable borrow rate overflow'); reserve.currentLiquidityRate = uint128(vars.newLiquidityRate); reserve.currentStableBorrowRate = uint128(vars.newStableRate); reserve.currentVariableBorrowRate = uint128(vars.newVariableRate); emit ReserveDataUpdated( reserveAddress, vars.newLiquidityRate, vars.newStableRate, vars.newVariableRate, reserve.liquidityIndex, reserve.variableBorrowIndex ); } struct MintToTreasuryLocalVars { uint256 currentStableDebt; uint256 principalStableDebt; uint256 previousStableDebt; uint256 currentVariableDebt; uint256 scaledVariableDebt; uint256 previousVariableDebt; uint256 avgStableRate; uint256 cumulatedStableInterest; uint256 totalDebtAccrued; uint256 amountToMint; uint256 reserveFactor; uint40 stableSupplyUpdatedTimestamp; } /** * @dev mints part of the repaid interest to the reserve treasury, depending on the reserveFactor for the * specific asset. * @param reserve the reserve reserve to be updated * @param variableDebtToken the debt token address * @param previousVariableBorrowIndex the variable borrow index before the last accumulation of the interest * @param newLiquidityIndex the new liquidity index * @param newVariableBorrowIndex the variable borrow index after the last accumulation of the interest **/ function _mintToTreasury( ReserveData storage reserve, address variableDebtToken, uint256 previousVariableBorrowIndex, uint256 newLiquidityIndex, uint256 newVariableBorrowIndex ) internal { MintToTreasuryLocalVars memory vars; vars.reserveFactor = reserve.configuration.getReserveFactor(); if (vars.reserveFactor == 0) { return; } //fetching the last scaled total variable debt vars.scaledVariableDebt = IVariableDebtToken(variableDebtToken).scaledTotalSupply(); //fetching the principal, total stable debt and the avg stable rate ( vars.principalStableDebt, vars.currentStableDebt, vars.avgStableRate, vars.stableSupplyUpdatedTimestamp ) = IStableDebtToken(reserve.stableDebtTokenAddress).getSupplyData(); //calculate the last principal variable debt vars.previousVariableDebt = vars.scaledVariableDebt.rayMul(previousVariableBorrowIndex); //calculate the new total supply after accumulation of the index vars.currentVariableDebt = vars.scaledVariableDebt.rayMul(newVariableBorrowIndex); //calculate the stable debt until the last timestamp update vars.cumulatedStableInterest = MathUtils.calculateCompoundedInterest( vars.avgStableRate, vars.stableSupplyUpdatedTimestamp ); vars.previousStableDebt = vars.principalStableDebt.rayMul(vars.cumulatedStableInterest); //debt accrued is the sum of the current debt minus the sum of the debt at the last update vars.totalDebtAccrued = vars .currentVariableDebt .add(vars.currentStableDebt) .sub(vars.previousVariableDebt) .sub(vars.previousStableDebt); vars.amountToMint = vars.totalDebtAccrued.percentMul(vars.reserveFactor); IAToken(reserve.aTokenAddress).mintToTreasury(vars.amountToMint, newLiquidityIndex); } /** * @dev updates the reserve indexes and the timestamp of the update * @param reserve the reserve reserve to be updated * @param variableDebtToken the debt token address * @param liquidityIndex the last stored liquidity index * @param variableBorrowIndex the last stored variable borrow index **/ function _updateIndexes( ReserveData storage reserve, address variableDebtToken, uint256 liquidityIndex, uint256 variableBorrowIndex ) internal returns (uint256, uint256) { uint40 timestamp = reserve.lastUpdateTimestamp; uint256 currentLiquidityRate = reserve.currentLiquidityRate; uint256 newLiquidityIndex = liquidityIndex; uint256 newVariableBorrowIndex = variableBorrowIndex; //only cumulating if there is any income being produced if (currentLiquidityRate > 0) { uint256 cumulatedLiquidityInterest = MathUtils.calculateLinearInterest( currentLiquidityRate, timestamp ); newLiquidityIndex = cumulatedLiquidityInterest.rayMul(liquidityIndex); require(newLiquidityIndex < (1 << 128), Errors.LIQUIDITY_INDEX_OVERFLOW); reserve.liquidityIndex = uint128(newLiquidityIndex); //as the liquidity rate might come only from stable rate loans, we need to ensure //that there is actual variable debt before accumulating if (IERC20(variableDebtToken).totalSupply() > 0) { uint256 cumulatedVariableBorrowInterest = MathUtils.calculateCompoundedInterest( reserve.currentVariableBorrowRate, timestamp ); newVariableBorrowIndex = cumulatedVariableBorrowInterest.rayMul(variableBorrowIndex); require(newVariableBorrowIndex < (1 << 128), Errors.VARIABLE_BORROW_INDEX_OVERFLOW); reserve.variableBorrowIndex = uint128(newVariableBorrowIndex); } } //solium-disable-next-line reserve.lastUpdateTimestamp = uint40(block.timestamp); return (newLiquidityIndex, newVariableBorrowIndex); } }