import { TestEnv, makeSuite } from './helpers/make-suite'; import { deployDefaultReserveInterestRateStrategy } from '../../helpers/contracts-deployments'; import { APPROVAL_AMOUNT_LENDING_POOL, PERCENTAGE_FACTOR, RAY } from '../../helpers/constants'; import { rateStrategyStableOne } from '../../markets/aave/rateStrategies'; import { strategyDAI } from '../../markets/aave/reservesConfigs'; import { AToken, DefaultReserveInterestRateStrategy, MintableERC20 } from '../../types'; import BigNumber from 'bignumber.js'; import './helpers/utils/math'; const { expect } = require('chai'); makeSuite('Interest rate strategy tests', (testEnv: TestEnv) => { let strategyInstance: DefaultReserveInterestRateStrategy; let dai: MintableERC20; let aDai: AToken; before(async () => { dai = testEnv.dai; aDai = testEnv.aDai; const { addressesProvider } = testEnv; strategyInstance = await deployDefaultReserveInterestRateStrategy( [ addressesProvider.address, rateStrategyStableOne.optimalUtilizationRate, rateStrategyStableOne.baseVariableBorrowRate, rateStrategyStableOne.variableRateSlope1, rateStrategyStableOne.variableRateSlope2, rateStrategyStableOne.stableRateSlope1, rateStrategyStableOne.stableRateSlope2, ], false ); }); it('Checks rates at 0% utilization rate, empty reserve', async () => { const { 0: currentLiquidityRate, 1: currentStableBorrowRate, 2: currentVariableBorrowRate, } = await strategyInstance.calculateInterestRates( dai.address, aDai.address, 0, 0, 0, 0, 0, strategyDAI.reserveFactor ); expect(currentLiquidityRate.toString()).to.be.equal('0', 'Invalid liquidity rate'); expect(currentStableBorrowRate.toString()).to.be.equal( new BigNumber(0.039).times(RAY).toFixed(0), 'Invalid stable rate' ); expect(currentVariableBorrowRate.toString()).to.be.equal( rateStrategyStableOne.baseVariableBorrowRate, 'Invalid variable rate' ); }); it('Checks rates at 80% utilization rate', async () => { const { 0: currentLiquidityRate, 1: currentStableBorrowRate, 2: currentVariableBorrowRate, } = await strategyInstance.calculateInterestRates( dai.address, aDai.address, '200000000000000000', '0', '0', '800000000000000000', '0', strategyDAI.reserveFactor ); const expectedVariableRate = new BigNumber(rateStrategyStableOne.baseVariableBorrowRate).plus( rateStrategyStableOne.variableRateSlope1 ); expect(currentLiquidityRate.toString()).to.be.equal( expectedVariableRate .times(0.8) .percentMul(new BigNumber(PERCENTAGE_FACTOR).minus(strategyDAI.reserveFactor)) .toFixed(0), 'Invalid liquidity rate' ); expect(currentVariableBorrowRate.toString()).to.be.equal( expectedVariableRate.toFixed(0), 'Invalid variable rate' ); expect(currentStableBorrowRate.toString()).to.be.equal( new BigNumber(0.039).times(RAY).plus(rateStrategyStableOne.stableRateSlope1).toFixed(0), 'Invalid stable rate' ); }); it('Checks rates at 100% utilization rate', async () => { const { 0: currentLiquidityRate, 1: currentStableBorrowRate, 2: currentVariableBorrowRate, } = await strategyInstance.calculateInterestRates( dai.address, aDai.address, '0', '0', '0', '800000000000000000', '0', strategyDAI.reserveFactor ); const expectedVariableRate = new BigNumber(rateStrategyStableOne.baseVariableBorrowRate) .plus(rateStrategyStableOne.variableRateSlope1) .plus(rateStrategyStableOne.variableRateSlope2); expect(currentLiquidityRate.toString()).to.be.equal( expectedVariableRate .percentMul(new BigNumber(PERCENTAGE_FACTOR).minus(strategyDAI.reserveFactor)) .toFixed(0), 'Invalid liquidity rate' ); expect(currentVariableBorrowRate.toString()).to.be.equal( expectedVariableRate.toFixed(0), 'Invalid variable rate' ); expect(currentStableBorrowRate.toString()).to.be.equal( new BigNumber(0.039) .times(RAY) .plus(rateStrategyStableOne.stableRateSlope1) .plus(rateStrategyStableOne.stableRateSlope2) .toFixed(0), 'Invalid stable rate' ); }); it('Checks rates at 100% utilization rate, 50% stable debt and 50% variable debt, with a 10% avg stable rate', async () => { const { 0: currentLiquidityRate, 1: currentStableBorrowRate, 2: currentVariableBorrowRate, } = await strategyInstance.calculateInterestRates( dai.address, aDai.address, '0', '0', '400000000000000000', '400000000000000000', '100000000000000000000000000', strategyDAI.reserveFactor ); const expectedVariableRate = new BigNumber(rateStrategyStableOne.baseVariableBorrowRate) .plus(rateStrategyStableOne.variableRateSlope1) .plus(rateStrategyStableOne.variableRateSlope2); const expectedLiquidityRate = new BigNumber( currentVariableBorrowRate.add('100000000000000000000000000').div(2).toString() ) .percentMul(new BigNumber(PERCENTAGE_FACTOR).minus(strategyDAI.reserveFactor)) .toFixed(0); expect(currentLiquidityRate.toString()).to.be.equal( expectedLiquidityRate, 'Invalid liquidity rate' ); expect(currentVariableBorrowRate.toString()).to.be.equal( expectedVariableRate.toFixed(0), 'Invalid variable rate' ); expect(currentStableBorrowRate.toString()).to.be.equal( new BigNumber(0.039) .times(RAY) .plus(rateStrategyStableOne.stableRateSlope1) .plus(rateStrategyStableOne.stableRateSlope2) .toFixed(0), 'Invalid stable rate' ); }); });