aave-protocol-v2/contracts/lendingpool/LendingPoolCollateralManager.sol

// 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 {
  VersionedInitializable
} from '../libraries/openzeppelin-upgradeability/VersionedInitializable.sol';
import {IAToken} from '../tokenization/interfaces/IAToken.sol';
import {IStableDebtToken} from '../tokenization/interfaces/IStableDebtToken.sol';
import {IVariableDebtToken} from '../tokenization/interfaces/IVariableDebtToken.sol';
import {IPriceOracleGetter} from '../interfaces/IPriceOracleGetter.sol';
import {GenericLogic} from '../libraries/logic/GenericLogic.sol';
import {ReserveLogic} from '../libraries/logic/ReserveLogic.sol';
import {UserConfiguration} from '../libraries/configuration/UserConfiguration.sol';
import {Helpers} from '../libraries/helpers/Helpers.sol';
import {WadRayMath} from '../libraries/math/WadRayMath.sol';
import {PercentageMath} from '../libraries/math/PercentageMath.sol';
import {SafeERC20} from '@openzeppelin/contracts/token/ERC20/SafeERC20.sol';
import {ISwapAdapter} from '../interfaces/ISwapAdapter.sol';
import {Errors} from '../libraries/helpers/Errors.sol';
import {ValidationLogic} from '../libraries/logic/ValidationLogic.sol';
import {LendingPoolStorage} from './LendingPoolStorage.sol';

/**
 * @title LendingPoolCollateralManager contract
 * @author Aave
 * @notice Implements actions involving management of collateral in the protocol.
 * @notice this contract will be ran always through delegatecall
 * @dev LendingPoolCollateralManager inherits VersionedInitializable from OpenZeppelin to have the same storage layout as LendingPool
 **/
contract LendingPoolCollateralManager is VersionedInitializable, LendingPoolStorage {
  using SafeERC20 for IERC20;
  using SafeMath for uint256;
  using WadRayMath for uint256;
  using PercentageMath for uint256;

  // IMPORTANT The storage layout of the LendingPool is reproduced here because this contract
  // is gonna be used through DELEGATECALL

  uint256 internal constant LIQUIDATION_CLOSE_FACTOR_PERCENT = 5000;

  /**
   * @dev emitted when a borrower is liquidated
   * @param collateral the address of the collateral being liquidated
   * @param principal the address of the reserve
   * @param user the address of the user being liquidated
   * @param purchaseAmount the total amount liquidated
   * @param liquidatedCollateralAmount the amount of collateral being liquidated
   * @param liquidator the address of the liquidator
   * @param receiveAToken true if the liquidator wants to receive aTokens, false otherwise
   **/
  event LiquidationCall(
    address indexed collateral,
    address indexed principal,
    address indexed user,
    uint256 purchaseAmount,
    uint256 liquidatedCollateralAmount,
    address liquidator,
    bool receiveAToken
  );

  /**
    @dev emitted when a borrower/liquidator repays with the borrower's collateral
    @param collateral the address of the collateral being swapped to repay
    @param principal the address of the reserve of the debt
    @param user the borrower's address
    @param liquidator the address of the liquidator, same as the one of the borrower on self-repayment
    @param principalAmount the amount of the debt finally covered
    @param swappedCollateralAmount the amount of collateral finally swapped
  */
  event RepaidWithCollateral(
    address indexed collateral,
    address indexed principal,
    address indexed user,
    address liquidator,
    uint256 principalAmount,
    uint256 swappedCollateralAmount
  );

  struct LiquidationCallLocalVars {
    uint256 userCollateralBalance;
    uint256 userStableDebt;
    uint256 userVariableDebt;
    uint256 maxPrincipalAmountToLiquidate;
    uint256 actualAmountToLiquidate;
    uint256 liquidationRatio;
    uint256 maxAmountCollateralToLiquidate;
    ReserveLogic.InterestRateMode borrowRateMode;
    uint256 userStableRate;
    uint256 maxCollateralToLiquidate;
    uint256 principalAmountNeeded;
    uint256 healthFactor;
    IAToken collateralAtoken;
    bool isCollateralEnabled;
    address principalAToken;
    uint256 errorCode;
    string errorMsg;
  }

  struct SwapLiquidityLocalVars {
    uint256 healthFactor;
    uint256 amountToReceive;
    uint256 userBalanceBefore;
    IAToken fromReserveAToken;
    IAToken toReserveAToken;
    uint256 errorCode;
    string errorMsg;
  }

  struct AvailableCollateralToLiquidateLocalVars {
    uint256 userCompoundedBorrowBalance;
    uint256 liquidationBonus;
    uint256 collateralPrice;
    uint256 principalCurrencyPrice;
    uint256 maxAmountCollateralToLiquidate;
    uint256 principalDecimals;
    uint256 collateralDecimals;
  }

  /**
   * @dev as the contract extends the VersionedInitializable contract to match the state
   * of the LendingPool contract, the getRevision() function is needed.
   */
  function getRevision() internal override pure returns (uint256) {
    return 0;
  }

  /**
   * @dev users can invoke this function to liquidate an undercollateralized position.
   * @param collateral the address of the collateral to liquidated
   * @param principal the address of the principal reserve
   * @param user the address of the borrower
   * @param purchaseAmount the amount of principal that the liquidator wants to repay
   * @param receiveAToken true if the liquidators wants to receive the aTokens, false if
   * he wants to receive the underlying asset directly
   **/
  function liquidationCall(
    address collateral,
    address principal,
    address user,
    uint256 purchaseAmount,
    bool receiveAToken
  ) external returns (uint256, string memory) {
    ReserveLogic.ReserveData storage collateralReserve = _reserves[collateral];
    ReserveLogic.ReserveData storage principalReserve = _reserves[principal];
    UserConfiguration.Map storage userConfig = _usersConfig[user];

    LiquidationCallLocalVars memory vars;

    (, , , , vars.healthFactor) = GenericLogic.calculateUserAccountData(
      user,
      _reserves,
      _usersConfig[user],
      _reservesList,
      _reservesCount,
      _addressesProvider.getPriceOracle()
    );

    //if the user hasn't borrowed the specific currency defined by asset, it cannot be liquidated
    (vars.userStableDebt, vars.userVariableDebt) = Helpers.getUserCurrentDebt(
      user,
      principalReserve
    );

    (vars.errorCode, vars.errorMsg) = ValidationLogic.validateLiquidationCall(
      collateralReserve,
      principalReserve,
      userConfig,
      vars.healthFactor,
      vars.userStableDebt,
      vars.userVariableDebt
    );

    if (Errors.CollateralManagerErrors(vars.errorCode) != Errors.CollateralManagerErrors.NO_ERROR) {
      return (vars.errorCode, vars.errorMsg);
    }

    vars.collateralAtoken = IAToken(collateralReserve.aTokenAddress);

    vars.userCollateralBalance = vars.collateralAtoken.balanceOf(user);

    vars.maxPrincipalAmountToLiquidate = vars.userStableDebt.add(vars.userVariableDebt).percentMul(
      LIQUIDATION_CLOSE_FACTOR_PERCENT
    );

    vars.actualAmountToLiquidate = purchaseAmount > vars.maxPrincipalAmountToLiquidate
      ? vars.maxPrincipalAmountToLiquidate
      : purchaseAmount;

    (
      vars.maxCollateralToLiquidate,
      vars.principalAmountNeeded
    ) = calculateAvailableCollateralToLiquidate(
      collateralReserve,
      principalReserve,
      collateral,
      principal,
      vars.actualAmountToLiquidate,
      vars.userCollateralBalance
    );

    //if principalAmountNeeded < vars.ActualAmountToLiquidate, there isn't enough
    //of collateral to cover the actual amount that is being liquidated, hence we liquidate
    //a smaller amount

    if (vars.principalAmountNeeded < vars.actualAmountToLiquidate) {
      vars.actualAmountToLiquidate = vars.principalAmountNeeded;
    }

    //if liquidator reclaims the underlying asset, we make sure there is enough available collateral in the reserve
    if (!receiveAToken) {
      uint256 currentAvailableCollateral = IERC20(collateral).balanceOf(
        address(vars.collateralAtoken)
      );
      if (currentAvailableCollateral < vars.maxCollateralToLiquidate) {
        return (
          uint256(Errors.CollateralManagerErrors.NOT_ENOUGH_LIQUIDITY),
          Errors.NOT_ENOUGH_LIQUIDITY_TO_LIQUIDATE
        );
      }
    }

    //update the principal reserve
    principalReserve.updateState();

    principalReserve.updateInterestRates(
      principal,
      principalReserve.aTokenAddress,
      vars.actualAmountToLiquidate,
      0
    );

    if (vars.userVariableDebt >= vars.actualAmountToLiquidate) {
      IVariableDebtToken(principalReserve.variableDebtTokenAddress).burn(
        user,
        vars.actualAmountToLiquidate,
        principalReserve.variableBorrowIndex
      );
    } else {
      //if the user does not have variable debt, no need to try to burn variable
      //debt tokens
      if (vars.userVariableDebt > 0) {
        IVariableDebtToken(principalReserve.variableDebtTokenAddress).burn(
          user,
          vars.userVariableDebt,
          principalReserve.variableBorrowIndex
        );
      }
      IStableDebtToken(principalReserve.stableDebtTokenAddress).burn(
        user,
        vars.actualAmountToLiquidate.sub(vars.userVariableDebt)
      );
    }

    //if liquidator reclaims the aToken, he receives the equivalent atoken amount
    if (receiveAToken) {
      vars.collateralAtoken.transferOnLiquidation(user, msg.sender, vars.maxCollateralToLiquidate);
    } else {
      //otherwise receives the underlying asset

      //updating collateral reserve
      collateralReserve.updateState();
      collateralReserve.updateInterestRates(
        collateral,
        address(vars.collateralAtoken),
        0,
        vars.maxCollateralToLiquidate
      );

      //burn the equivalent amount of atoken
      vars.collateralAtoken.burn(
        user,
        msg.sender,
        vars.maxCollateralToLiquidate,
        collateralReserve.liquidityIndex
      );
    }

    //transfers the principal currency to the aToken
    IERC20(principal).safeTransferFrom(
      msg.sender,
      principalReserve.aTokenAddress,
      vars.actualAmountToLiquidate
    );

    emit LiquidationCall(
      collateral,
      principal,
      user,
      vars.actualAmountToLiquidate,
      vars.maxCollateralToLiquidate,
      msg.sender,
      receiveAToken
    );

    return (uint256(Errors.CollateralManagerErrors.NO_ERROR), Errors.NO_ERRORS);
  }

  /**
   * @dev flashes the underlying collateral on an user to swap for the owed asset and repay
   * - Both the owner of the position and other liquidators can execute it.
   * - The owner can repay with his collateral at any point, no matter the health factor.
   * - Other liquidators can only use this function below 1 HF. To liquidate 50% of the debt > HF 0.98 or the whole below.
   * @param collateral The address of the collateral asset.
   * @param principal The address of the owed asset.
   * @param user Address of the borrower.
   * @param principalAmount Amount of the debt to repay.
   * @param receiver Address of the contract receiving the collateral to swap.
   * @param params Variadic bytes param to pass with extra information to the receiver
   **/
  function repayWithCollateral(
    address collateral,
    address principal,
    address user,
    uint256 principalAmount,
    address receiver,
    bytes calldata params
  ) external returns (uint256, string memory) {
    ReserveLogic.ReserveData storage collateralReserve = _reserves[collateral];
    ReserveLogic.ReserveData storage debtReserve = _reserves[principal];
    UserConfiguration.Map storage userConfig = _usersConfig[user];

    LiquidationCallLocalVars memory vars;

    (, , , , vars.healthFactor) = GenericLogic.calculateUserAccountData(
      user,
      _reserves,
      _usersConfig[user],
      _reservesList,
      _reservesCount,
      _addressesProvider.getPriceOracle()
    );

    (vars.userStableDebt, vars.userVariableDebt) = Helpers.getUserCurrentDebt(user, debtReserve);

    (vars.errorCode, vars.errorMsg) = ValidationLogic.validateRepayWithCollateral(
      collateralReserve,
      debtReserve,
      userConfig,
      user,
      vars.healthFactor,
      vars.userStableDebt,
      vars.userVariableDebt
    );

    if (Errors.CollateralManagerErrors(vars.errorCode) != Errors.CollateralManagerErrors.NO_ERROR) {
      return (vars.errorCode, vars.errorMsg);
    }

    vars.maxPrincipalAmountToLiquidate = vars.userStableDebt.add(vars.userVariableDebt);

    vars.actualAmountToLiquidate = principalAmount > vars.maxPrincipalAmountToLiquidate
      ? vars.maxPrincipalAmountToLiquidate
      : principalAmount;

    vars.collateralAtoken = IAToken(collateralReserve.aTokenAddress);
    vars.userCollateralBalance = vars.collateralAtoken.balanceOf(user);

    (
      vars.maxCollateralToLiquidate,
      vars.principalAmountNeeded
    ) = calculateAvailableCollateralToLiquidate(
      collateralReserve,
      debtReserve,
      collateral,
      principal,
      vars.actualAmountToLiquidate,
      vars.userCollateralBalance
    );

    //if principalAmountNeeded < vars.ActualAmountToLiquidate, there isn't enough
    //of collateral to cover the actual amount that is being liquidated, hence we liquidate
    //a smaller amount
    if (vars.principalAmountNeeded < vars.actualAmountToLiquidate) {
      vars.actualAmountToLiquidate = vars.principalAmountNeeded;
    }
    //updating collateral reserve indexes
    collateralReserve.updateState();

    //updating collateral reserve interest rates
    collateralReserve.updateInterestRates(
      collateral,
      address(vars.collateralAtoken),
      0,
      vars.maxCollateralToLiquidate
    );

    vars.collateralAtoken.burn(
      user,
      receiver,
      vars.maxCollateralToLiquidate,
      collateralReserve.liquidityIndex
    );

    if (vars.userCollateralBalance == vars.maxCollateralToLiquidate) {
      _usersConfig[user].setUsingAsCollateral(collateralReserve.id, false);
    }

    vars.principalAToken = debtReserve.aTokenAddress;

    // Notifies the receiver to proceed, sending as param the underlying already transferred
    ISwapAdapter(receiver).executeOperation(
      collateral,
      principal,
      vars.maxCollateralToLiquidate,
      address(this),
      params
    );

    //updating debt reserve
    debtReserve.updateState();
    debtReserve.updateInterestRates(
      principal,
      vars.principalAToken,
      vars.actualAmountToLiquidate,
      0
    );
    IERC20(principal).safeTransferFrom(
      receiver,
      vars.principalAToken,
      vars.actualAmountToLiquidate
    );

    if (vars.userVariableDebt >= vars.actualAmountToLiquidate) {
      IVariableDebtToken(debtReserve.variableDebtTokenAddress).burn(
        user,
        vars.actualAmountToLiquidate,
        debtReserve.variableBorrowIndex
      );
    } else {
      IVariableDebtToken(debtReserve.variableDebtTokenAddress).burn(
        user,
        vars.userVariableDebt,
        debtReserve.variableBorrowIndex
      );
      IStableDebtToken(debtReserve.stableDebtTokenAddress).burn(
        user,
        vars.actualAmountToLiquidate.sub(vars.userVariableDebt)
      );
    }

    emit RepaidWithCollateral(
      collateral,
      principal,
      user,
      msg.sender,
      vars.actualAmountToLiquidate,
      vars.maxCollateralToLiquidate
    );

    return (uint256(Errors.CollateralManagerErrors.NO_ERROR), Errors.NO_ERRORS);
  }

  /**
   * @dev Allows an user to release one of his assets deposited in the protocol, even if it is used as collateral, to swap for another.
   * - It's not possible to release one asset to swap for the same
   * @param receiverAddress The address of the contract receiving the funds. The receiver should implement the ISwapAdapter interface
   * @param fromAsset Asset to swap from
   * @param toAsset Asset to swap to
   * @param params a bytes array to be sent (if needed) to the receiver contract with extra data
   **/
  function swapLiquidity(
    address receiverAddress,
    address fromAsset,
    address toAsset,
    uint256 amountToSwap,
    bytes calldata params
  ) external returns (uint256, string memory) {
    ReserveLogic.ReserveData storage fromReserve = _reserves[fromAsset];
    ReserveLogic.ReserveData storage toReserve = _reserves[toAsset];

    SwapLiquidityLocalVars memory vars;

    (vars.errorCode, vars.errorMsg) = ValidationLogic.validateSwapLiquidity(
      fromReserve,
      toReserve,
      fromAsset,
      toAsset
    );

    if (Errors.CollateralManagerErrors(vars.errorCode) != Errors.CollateralManagerErrors.NO_ERROR) {
      return (vars.errorCode, vars.errorMsg);
    }

    vars.fromReserveAToken = IAToken(fromReserve.aTokenAddress);
    vars.toReserveAToken = IAToken(toReserve.aTokenAddress);

    fromReserve.updateState();
    toReserve.updateState();

    if (vars.fromReserveAToken.balanceOf(msg.sender) == amountToSwap) {
      _usersConfig[msg.sender].setUsingAsCollateral(fromReserve.id, false);
    }

    fromReserve.updateInterestRates(fromAsset, address(vars.fromReserveAToken), 0, amountToSwap);

    vars.fromReserveAToken.burn(
      msg.sender,
      receiverAddress,
      amountToSwap,
      fromReserve.liquidityIndex
    );
    // Notifies the receiver to proceed, sending as param the underlying already transferred
    ISwapAdapter(receiverAddress).executeOperation(
      fromAsset,
      toAsset,
      amountToSwap,
      address(this),
      params
    );

    vars.amountToReceive = IERC20(toAsset).balanceOf(receiverAddress);
    if (vars.amountToReceive != 0) {
      IERC20(toAsset).safeTransferFrom(
        receiverAddress,
        address(vars.toReserveAToken),
        vars.amountToReceive
      );

      if (vars.toReserveAToken.balanceOf(msg.sender) == 0) {
        _usersConfig[msg.sender].setUsingAsCollateral(toReserve.id, true);
      }

      vars.toReserveAToken.mint(msg.sender, vars.amountToReceive, toReserve.liquidityIndex);
      toReserve.updateInterestRates(
        toAsset,
        address(vars.toReserveAToken),
        vars.amountToReceive,
        0
      );
    }

    (, , , , vars.healthFactor) = GenericLogic.calculateUserAccountData(
      msg.sender,
      _reserves,
      _usersConfig[msg.sender],
      _reservesList,
      _reservesCount,
      _addressesProvider.getPriceOracle()
    );

    if (vars.healthFactor < GenericLogic.HEALTH_FACTOR_LIQUIDATION_THRESHOLD) {
      return (
        uint256(Errors.CollateralManagerErrors.HEALTH_FACTOR_LOWER_THAN_LIQUIDATION_THRESHOLD),
        Errors.HEALTH_FACTOR_LOWER_THAN_LIQUIDATION_THRESHOLD
      );
    }

    return (uint256(Errors.CollateralManagerErrors.NO_ERROR), Errors.NO_ERRORS);
  }

  /**
   * @dev calculates how much of a specific collateral can be liquidated, given
   * a certain amount of principal currency. This function needs to be called after
   * all the checks to validate the liquidation have been performed, otherwise it might fail.
   * @param collateralAddress the collateral to be liquidated
   * @param principalAddress the principal currency to be liquidated
   * @param purchaseAmount the amount of principal being liquidated
   * @param userCollateralBalance the collatera balance for the specific collateral asset of the user being liquidated
   * @return collateralAmount the maximum amount that is possible to liquidated given all the liquidation constraints (user balance, close factor)
   * @return principalAmountNeeded the purchase amount
   **/
  function calculateAvailableCollateralToLiquidate(
    ReserveLogic.ReserveData storage collateralReserve,
    ReserveLogic.ReserveData storage principalReserve,
    address collateralAddress,
    address principalAddress,
    uint256 purchaseAmount,
    uint256 userCollateralBalance
  ) internal view returns (uint256, uint256) {
    uint256 collateralAmount = 0;
    uint256 principalAmountNeeded = 0;
    IPriceOracleGetter oracle = IPriceOracleGetter(_addressesProvider.getPriceOracle());

    AvailableCollateralToLiquidateLocalVars memory vars;

    vars.collateralPrice = oracle.getAssetPrice(collateralAddress);
    vars.principalCurrencyPrice = oracle.getAssetPrice(principalAddress);

    (, , vars.liquidationBonus, vars.collateralDecimals, ) = collateralReserve
      .configuration
      .getParams();
    vars.principalDecimals = principalReserve.configuration.getDecimals();

    //this is the maximum possible amount of the selected collateral that can be liquidated, given the
    //max amount of principal currency that is available for liquidation.
    vars.maxAmountCollateralToLiquidate = vars
      .principalCurrencyPrice
      .mul(purchaseAmount)
      .mul(10**vars.collateralDecimals)
      .div(vars.collateralPrice.mul(10**vars.principalDecimals))
      .percentMul(vars.liquidationBonus);

    if (vars.maxAmountCollateralToLiquidate > userCollateralBalance) {
      collateralAmount = userCollateralBalance;
      principalAmountNeeded = vars
        .collateralPrice
        .mul(collateralAmount)
        .mul(10**vars.principalDecimals)
        .div(vars.principalCurrencyPrice.mul(10**vars.collateralDecimals))
        .percentDiv(vars.liquidationBonus);
    } else {
      collateralAmount = vars.maxAmountCollateralToLiquidate;
      principalAmountNeeded = purchaseAmount;
    }
    return (collateralAmount, principalAmountNeeded);
  }
}