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234 lines
12 KiB
Solidity
234 lines
12 KiB
Solidity
//SPDX-License-Identifier: MIT
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pragma solidity 0.8.21;
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import { LibraryLiquidityCalcsBaseTest } from "./liquidityCalcsBaseTest.t.sol";
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import { LibsErrorTypes } from "../../../../contracts/libraries/errorTypes.sol";
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import { LiquidityCalcs } from "../../../../contracts/libraries/liquidityCalcs.sol";
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import "forge-std/console2.sol";
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contract LibraryLiquidityCalcsCalcExchangePricesTests is LibraryLiquidityCalcsBaseTest {
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uint256 constant DEFAULT_PERCENT_PRECISION = 1e2;
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uint256 constant HUNDRED_PERCENT = 100 * DEFAULT_PERCENT_PRECISION;
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uint256 constant DEFAULT_FEE = 50 * DEFAULT_PERCENT_PRECISION; // 50%
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uint256 constant EXCHANGE_PRICES_PRECISION = 1e12;
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uint256 constant supplyInterestFree = 2 ether;
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uint256 constant borrowInterestFree = 1 ether;
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// Note: lots of additional tests are in liquidityYield.t.sol that indirectly fully test calcExchangePrices()
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function testLiquidityCalcs_calcExchangePrices_RevertSupplyExchangePrice0() public {
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uint256 exchangePricesAndConfig = _simulateExchangePricesAndConfig(
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0, // borrow rate
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0, // fee
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0, // utilization
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0, // updateOnStorageThreshold
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0, // last update timestamp -> half a year ago
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0, // supplyExchangePrice
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EXCHANGE_PRICES_PRECISION, // borrowExchangePrice
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0,
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0,
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0,
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0
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);
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vm.expectRevert(
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abi.encodeWithSelector(
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LiquidityCalcs.FluidLiquidityCalcsError.selector,
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LibsErrorTypes.LiquidityCalcs__ExchangePriceZero
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)
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);
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testHelper.calcExchangePrices(exchangePricesAndConfig);
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}
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function testLiquidityCalcs_calcExchangePrices_RevertBorrowExchangePrice0() public {
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uint256 exchangePricesAndConfig = _simulateExchangePricesAndConfig(
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0, // borrow rate
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0, // fee
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0, // utilization
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0, // updateOnStorageThreshold
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0, // last update timestamp -> half a year ago
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EXCHANGE_PRICES_PRECISION, // supplyExchangePrice
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0, // borrowExchangePrice
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0,
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0,
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0,
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0
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);
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vm.expectRevert(
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abi.encodeWithSelector(
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LiquidityCalcs.FluidLiquidityCalcsError.selector,
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LibsErrorTypes.LiquidityCalcs__ExchangePriceZero
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)
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);
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testHelper.calcExchangePrices(exchangePricesAndConfig);
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}
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function testLiquidityCalcs_calcExchangePrices_WhenBorrowRate0() public {
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vm.warp(block.timestamp + 2000 days); // skip ahead to not cause an underflow for last update timestamp
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uint256 supplyWithInterestRaw = 10 ether;
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uint256 borrowWithInterestRaw = 8 ether;
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uint256 exchangePricesAndConfig = _simulateExchangePricesAndConfig(
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0, // borrow rate
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DEFAULT_FEE, // fee
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(HUNDRED_PERCENT * (borrowWithInterestRaw + borrowInterestFree)) /
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(supplyWithInterestRaw + supplyInterestFree), // utilization
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1 * DEFAULT_PERCENT_PRECISION, // updateOnStorageThreshold
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block.timestamp - 182.5 days, // last update timestamp -> half a year ago
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EXCHANGE_PRICES_PRECISION, // supplyExchangePrice
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EXCHANGE_PRICES_PRECISION, // borrowExchangePrice
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// supply ratio mode: if 0 then supplyInterestFree / supplyWithInterestRaw else supplyWithInterestRaw / supplyInterestFree
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// ratio always divides by bigger amount, ratio can never be > 100%
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supplyWithInterestRaw > supplyInterestFree ? 0 : 1,
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supplyWithInterestRaw > supplyInterestFree
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? (supplyInterestFree * HUNDRED_PERCENT) / supplyWithInterestRaw
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: (supplyWithInterestRaw * HUNDRED_PERCENT) / supplyInterestFree,
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borrowWithInterestRaw > borrowInterestFree ? 0 : 1,
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borrowWithInterestRaw > borrowInterestFree
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? (borrowInterestFree * HUNDRED_PERCENT) / borrowWithInterestRaw
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: (borrowWithInterestRaw * HUNDRED_PERCENT) / borrowInterestFree
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);
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(uint256 supplyExchangePrice, uint256 borrowExchangePrice) = testHelper.calcExchangePrices(
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exchangePricesAndConfig
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);
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assertEq(supplyExchangePrice, EXCHANGE_PRICES_PRECISION);
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assertEq(borrowExchangePrice, EXCHANGE_PRICES_PRECISION);
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}
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function testLiquidityCalcs_calcExchangePrices_WhenTimePassed0() public {
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vm.warp(block.timestamp + 2000 days); // skip ahead to not cause an underflow for last update timestamp
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uint256 supplyWithInterestRaw = 10 ether;
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uint256 borrowWithInterestRaw = 8 ether;
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uint256 exchangePricesAndConfig = _simulateExchangePricesAndConfig(
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10 * DEFAULT_PERCENT_PRECISION, // borrow rate
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DEFAULT_FEE, // fee
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(HUNDRED_PERCENT * (borrowWithInterestRaw + borrowInterestFree)) /
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(supplyWithInterestRaw + supplyInterestFree), // utilization
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1 * DEFAULT_PERCENT_PRECISION, // updateOnStorageThreshold
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block.timestamp, // last update timestamp
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EXCHANGE_PRICES_PRECISION, // supplyExchangePrice
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EXCHANGE_PRICES_PRECISION, // borrowExchangePrice
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// supply ratio mode: if 0 then supplyInterestFree / supplyWithInterestRaw else supplyWithInterestRaw / supplyInterestFree
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// ratio always divides by bigger amount, ratio can never be > 100%
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supplyWithInterestRaw > supplyInterestFree ? 0 : 1,
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supplyWithInterestRaw > supplyInterestFree
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? (supplyInterestFree * HUNDRED_PERCENT) / supplyWithInterestRaw
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: (supplyWithInterestRaw * HUNDRED_PERCENT) / supplyInterestFree,
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borrowWithInterestRaw > borrowInterestFree ? 0 : 1,
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borrowWithInterestRaw > borrowInterestFree
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? (borrowInterestFree * HUNDRED_PERCENT) / borrowWithInterestRaw
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: (borrowWithInterestRaw * HUNDRED_PERCENT) / borrowInterestFree
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);
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(uint256 supplyExchangePrice, uint256 borrowExchangePrice) = testHelper.calcExchangePrices(
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exchangePricesAndConfig
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);
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assertEq(supplyExchangePrice, EXCHANGE_PRICES_PRECISION);
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assertEq(borrowExchangePrice, EXCHANGE_PRICES_PRECISION);
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}
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function testLiquidityCalcs_calcExchangePrices() public {
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vm.warp(block.timestamp + 2000 days); // skip ahead to not cause an underflow for last update timestamp
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uint256 exchangePricesAndConfig;
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uint256 supplyWithInterestRaw = 10 ether;
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uint256 borrowWithInterestRaw = 8 ether;
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exchangePricesAndConfig = _simulateExchangePricesAndConfig(
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10 * DEFAULT_PERCENT_PRECISION, // borrow rate
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DEFAULT_FEE, // fee
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(HUNDRED_PERCENT * (borrowWithInterestRaw + borrowInterestFree)) /
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(supplyWithInterestRaw + supplyInterestFree), // utilization
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1 * DEFAULT_PERCENT_PRECISION, // updateOnStorageThreshold
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block.timestamp - 182.5 days, // last update timestamp -> half a year ago
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EXCHANGE_PRICES_PRECISION, // supplyExchangePrice
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EXCHANGE_PRICES_PRECISION, // borrowExchangePrice
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// supply ratio mode: if 0 then supplyInterestFree / supplyWithInterestRaw else supplyWithInterestRaw / supplyInterestFree
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// ratio always divides by bigger amount, ratio can never be > 100%
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supplyWithInterestRaw > supplyInterestFree ? 0 : 1,
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supplyWithInterestRaw > supplyInterestFree
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? (supplyInterestFree * HUNDRED_PERCENT) / supplyWithInterestRaw
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: (supplyWithInterestRaw * HUNDRED_PERCENT) / supplyInterestFree,
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borrowWithInterestRaw > borrowInterestFree ? 0 : 1,
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borrowWithInterestRaw > borrowInterestFree
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? (borrowInterestFree * HUNDRED_PERCENT) / borrowWithInterestRaw
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: (borrowWithInterestRaw * HUNDRED_PERCENT) / borrowInterestFree
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);
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(uint256 supplyExchangePrice, uint256 borrowExchangePrice) = testHelper.calcExchangePrices(
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exchangePricesAndConfig
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);
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console2.log("borrowExchangePrice", borrowExchangePrice);
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// borrow exchange price should be:
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// 8 ether paying 10% borrow rate in 1 year so 0.4 in half a year
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// so 8 raw * borrowExchangePrice = 8.4 -> borrowExchange price must be 1.05
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assertEq(borrowExchangePrice, 1.05e12);
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console2.log("supplyExchangePrice", supplyExchangePrice);
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// supply exchange price should be:
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// supply rate should be 10% - fee 50% = 5%. and only 75% is lent out with yield so 3,75%.
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// and only 8 out of 9 borrow are paying yield so 3,75*8/9 = 3,3333%
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// but 1/6 of supply is not getting the yield so 3,33%*6/5 = 4%
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// and for half the year only that would be 2%. so supplyExchangePrice must be 1.02.
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// or as cross-check:
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// 0.4 ether borrowing interest, but 50% of that are kept as fee -> so 0.2 yield.
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// total supply should end up 12.2 ether. With supplyInterestFree still 2 ether,
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// supplyWithInterest 10.2 ether.
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// so 10 raw * supplyExchangePrice = 10.2 -> supplyExchangePrice price must be 1.02
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assertEq(supplyExchangePrice, 1.02e12);
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// raw amounts to normal for updated exchange prices ->
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supplyWithInterestRaw = (supplyWithInterestRaw * supplyExchangePrice) / 1e12;
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borrowWithInterestRaw = (borrowWithInterestRaw * borrowExchangePrice) / 1e12;
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// assuming another half year has passed, starting exchange prices are not 1
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exchangePricesAndConfig = _simulateExchangePricesAndConfig(
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10 * DEFAULT_PERCENT_PRECISION, // borrow rate
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DEFAULT_FEE, // fee
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(HUNDRED_PERCENT * (borrowWithInterestRaw + borrowInterestFree)) /
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(supplyWithInterestRaw + supplyInterestFree), // utilization
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1 * DEFAULT_PERCENT_PRECISION, // updateOnStorageThreshold
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block.timestamp - 182.5 days, // last update timestamp -> half a year ago
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supplyExchangePrice, // supplyExchangePrice
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borrowExchangePrice, // borrowExchangePrice
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// supply ratio mode: if 0 then supplyInterestFree / supplyWithInterestRaw else supplyWithInterestRaw / supplyInterestFree
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// ratio always divides by bigger amount, ratio can never be > 100%
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supplyWithInterestRaw > supplyInterestFree ? 0 : 1,
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supplyWithInterestRaw > supplyInterestFree
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? (supplyInterestFree * HUNDRED_PERCENT) / supplyWithInterestRaw
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: (supplyWithInterestRaw * HUNDRED_PERCENT) / supplyInterestFree,
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borrowWithInterestRaw > borrowInterestFree ? 0 : 1,
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borrowWithInterestRaw > borrowInterestFree
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? (borrowInterestFree * HUNDRED_PERCENT) / borrowWithInterestRaw
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: (borrowWithInterestRaw * HUNDRED_PERCENT) / borrowInterestFree
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);
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(supplyExchangePrice, borrowExchangePrice) = testHelper.calcExchangePrices(exchangePricesAndConfig);
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console2.log("borrowExchangePrice", borrowExchangePrice);
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// borrow exchange price should be:
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// 8.4 ether paying 10% borrow rate in 1 year so 0.42 in half a year
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// so 8 raw * borrowExchangePrice = 8.82 -> borrowExchange price must be 1.1025
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assertEq(borrowExchangePrice, 1.1025e12);
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console2.log("supplyExchangePrice", supplyExchangePrice);
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// supply exchange price should be:
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// 0.42 ether new borrowings, but 50% of that are kept as fee -> so 0.21 yield
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// so 10 raw * supplyExchangePrice = 10.41 -> supplyExchangePrice price must be 1.041
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assertApproxEqAbs(supplyExchangePrice, 1.041e12, 1e7);
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}
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}
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