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Memorialize borrower threshold price on kick #976

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merged 9 commits into from
Nov 17, 2023
Merged

Memorialize borrower threshold price on kick #976

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020fa96
Memorialize borrower threshold price at time of kick to calculate bpf…
prateek105 Nov 10, 2023
f626b81
Fix tests
prateek105 Nov 15, 2023
7710e22
Record borrower threshold price inside _recordAuction method
prateek105 Nov 16, 2023
1aed6df
Remove redundant conversions
prateek105 Nov 16, 2023
551113c
Merge branch 'develop' into memorialize-tp-on-kick
prateek105 Nov 16, 2023
ae45851
Fix natspec
prateek105 Nov 16, 2023
c682625
Fix unit tests
prateek105 Nov 16, 2023
47a2564
Remove redundant variable
prateek105 Nov 16, 2023
955feb1
Merge branch 'develop' into memorialize-tp-on-kick
prateek105 Nov 17, 2023
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1 change: 1 addition & 0 deletions src/interfaces/pool/commons/IPoolState.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -413,6 +413,7 @@ struct Liquidation {
address next; // next liquidated borrower in auctions queue
uint160 bondSize; // [WAD] liquidation bond size
uint96 neutralPrice; // [WAD] Neutral Price when liquidation was started
uint256 thresholdPrice; // [WAD] Threshold Price when liquidation was started
}

/// @dev Struct holding kicker state.
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4 changes: 3 additions & 1 deletion src/libraries/external/KickerActions.sol
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Expand Up @@ -27,7 +27,6 @@ import {
import {
MAX_INFLATED_PRICE,
_bondParams,
_bpf,
_claimableReserves,
_isCollateralized,
_priceAt,
Expand Down Expand Up @@ -334,6 +333,9 @@ library KickerActions {
vars.neutralPrice
);

// store borrower Threshold price
liquidation.thresholdPrice = Maths.wdiv(vars.borrowerDebt, vars.borrowerCollateral);
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// update escrowed bonds balances and get the difference needed to cover bond (after using any kick claimable funds if any)
kickResult_.amountToCoverBond = _updateEscrowedBonds(auctions_, vars.bondSize);

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7 changes: 1 addition & 6 deletions src/libraries/external/TakerActions.sol
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Expand Up @@ -345,7 +345,6 @@ library TakerActions {
vars_ = _prepareTake(
liquidation,
borrower_.t0Debt,
borrower_.collateral,
params_.inflator
);

Expand Down Expand Up @@ -428,7 +427,6 @@ library TakerActions {
vars_= _prepareTake(
liquidation,
borrower_.t0Debt,
borrower_.collateral,
params_.inflator
);

Expand Down Expand Up @@ -681,14 +679,12 @@ library TakerActions {
* - loan is not in auction NoAuction()
* @param liquidation_ Liquidation struct holding auction details.
* @param t0Debt_ Borrower t0 debt.
* @param collateral_ Borrower collateral.
* @param inflator_ The pool's inflator, used to calculate borrower debt.
* @return vars The prepared vars for take action.
*/
function _prepareTake(
Liquidation memory liquidation_,
uint256 t0Debt_,
uint256 collateral_,
uint256 inflator_
) internal view returns (TakeLocalVars memory vars) {

Expand All @@ -704,8 +700,7 @@ library TakerActions {
vars.auctionPrice = _auctionPrice(liquidation_.referencePrice, kickTime);
vars.bondFactor = liquidation_.bondFactor;
vars.bpf = _bpf(
vars.borrowerDebt,
collateral_,
liquidation_.thresholdPrice,
neutralPrice,
liquidation_.bondFactor,
vars.auctionPrice
Expand Down
20 changes: 8 additions & 12 deletions src/libraries/helpers/PoolHelper.sol
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Expand Up @@ -372,32 +372,28 @@ import { Maths } from '../internal/Maths.sol';
/**
* @notice Calculates bond penalty factor.
* @dev Called in kick and take.
* @param debt_ Borrower debt.
* @param collateral_ Borrower collateral.
* @param neutralPrice_ `NP` of auction.
* @param bondFactor_ Factor used to determine bondSize.
* @param auctionPrice_ Auction price at the time of call.
* @return bpf_ Factor used in determining bond `reward` (positive) or `penalty` (negative).
* @param thresholdPrice_ Borrower tp at time of kick.
* @param neutralPrice_ `NP` of auction.
* @param bondFactor_ Factor used to determine bondSize.
* @param auctionPrice_ Auction price at the time of call.
* @return bpf_ Factor used in determining bond `reward` (positive) or `penalty` (negative).
*/
function _bpf(
uint256 debt_,
uint256 collateral_,
uint256 thresholdPrice_,
uint256 neutralPrice_,
uint256 bondFactor_,
uint256 auctionPrice_
) pure returns (int256) {
int256 thresholdPrice = int256(Maths.wdiv(debt_, collateral_));

int256 sign;
if (thresholdPrice < int256(neutralPrice_)) {
if (int256(thresholdPrice_) < int256(neutralPrice_)) {
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Does it make sense to wrap int256(thresholdPrice_) here and on line 396? or can we just wrap it once at the begginging of the method logic?

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we don't need int conversion in the if block. fixing this.

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done here 1aed6df

// BPF = BondFactor * min(1, max(-1, (neutralPrice - price) / (neutralPrice - thresholdPrice)))
sign = Maths.minInt(
1e18,
Maths.maxInt(
-1 * 1e18,
PRBMathSD59x18.div(
int256(neutralPrice_) - int256(auctionPrice_),
int256(neutralPrice_) - thresholdPrice
int256(neutralPrice_) - int256(thresholdPrice_)
)
)
);
Expand Down
13 changes: 7 additions & 6 deletions tests/forge/unit/Auctions.t.sol
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Expand Up @@ -14,13 +14,14 @@ contract AuctionsTest is DSTestPlus {
uint256 collateral = 1000 * 1e18;
uint256 neutralPrice = 15 * 1e18;
uint256 bondFactor = 0.1 * 1e18;
uint256 thresholdPrice = Maths.wdiv(debt, collateral);

assertEq(_bpf(debt, collateral, neutralPrice, bondFactor, price), 0.1 * 1e18);
assertEq(_bpf(9000 * 1e18, collateral, neutralPrice, bondFactor, price), 0.083333333333333333 * 1e18);
assertEq(_bpf(debt, collateral, neutralPrice, bondFactor, 9.5 * 1e18), 0.1 * 1e18);
assertEq(_bpf(9000 * 1e18, collateral, neutralPrice, bondFactor, 9.5 * 1e18), 0.091666666666666667 * 1e18);
assertEq(_bpf(9000 * 1e18, collateral, 10 * 1e18, bondFactor, 10.5 * 1e18), -0.05 * 1e18);
assertEq(_bpf(debt, collateral, 5 * 1e18, bondFactor, 10.5 * 1e18), -0.1 * 1e18);
assertEq(_bpf(Maths.wdiv(debt, collateral), neutralPrice, bondFactor, price), 0.1 * 1e18);
assertEq(_bpf(Maths.wdiv(9000 * 1e18, collateral), neutralPrice, bondFactor, price), 0.083333333333333333 * 1e18);
assertEq(_bpf(Maths.wdiv(debt, collateral), neutralPrice, bondFactor, 9.5 * 1e18), 0.1 * 1e18);
assertEq(_bpf(Maths.wdiv(9000 * 1e18, collateral), neutralPrice, bondFactor, 9.5 * 1e18), 0.091666666666666667 * 1e18);
assertEq(_bpf(Maths.wdiv(9000 * 1e18, collateral), 10 * 1e18, bondFactor, 10.5 * 1e18), -0.05 * 1e18);
assertEq(_bpf(Maths.wdiv(debt, collateral), 5 * 1e18, bondFactor, 10.5 * 1e18), -0.1 * 1e18);
}

/**
Expand Down
26 changes: 13 additions & 13 deletions tests/forge/unit/ERC20Pool/ERC20PoolLiquidationsTake.t.sol
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Expand Up @@ -743,7 +743,7 @@ contract ERC20PoolLiquidationsTakeTest is ERC20HelperContract {
from: _lender,
borrower: _borrower2,
maxCollateral: 577 * 1e18,
bondChange: 27.337468146252670459 * 1e18,
bondChange: 27.331814713911545819 * 1e18,
givenAmount: 6_281.628773838729840580 * 1e18,
collateralTaken: 577 * 1e18,
isReward: true
Expand All @@ -755,23 +755,23 @@ contract ERC20PoolLiquidationsTakeTest is ERC20HelperContract {
borrower: _borrower2,
active: true,
kicker: _lender,
bondSize: 176.453206233100261662 * 1e18,
bondSize: 176.447552800759137022 * 1e18,
bondFactor: 0.015180339887498948 * 1e18,
kickTime: block.timestamp - 22000 seconds,
referencePrice: 11.314108592233961587 * 1e18,
totalBondEscrowed: 176.453206233100261662 * 1e18,
totalBondEscrowed: 176.447552800759137022 * 1e18,
auctionPrice: 10.886704980656377540 * 1e18,
debtInAuction: 3_653.993019025148320626 * 1e18,
thresholdPrice: 8.638281368853778535 * 1e18,
debtInAuction: 3_653.994432383233602314 * 1e18,
thresholdPrice: 8.638284710125847759 * 1e18,
neutralPrice: 11.314108592233961587 * 1e18
})
);
_assertBorrower({
borrower: _borrower2,
borrowerDebt: 3_653.993019025148320626 * 1e18,
borrowerDebt: 3_653.994432383233602314 * 1e18,
borrowerCollateral: 423.000000000000000000 * 1e18,
borrowert0Np: 9.813927120521769770 * 1e18,
borrowerCollateralization: 1.136655711572588218 * 1e18
borrowert0Np: 9.813930916531551927 * 1e18,
borrowerCollateralization: 1.136655271916324406 * 1e18
});
}

Expand Down Expand Up @@ -1129,9 +1129,9 @@ contract ERC20PoolLiquidationsTakeTest is ERC20HelperContract {
from: _lender,
borrower: _borrower2,
maxCollateral: 1_001 * 1e18,
bondChange: 43.529168844258845077 * 1e18,
givenAmount: 10_002.172770738542860841 * 1e18,
collateralTaken: 918.751154597329341626 * 1e18,
bondChange: 43.520176912520187399 * 1e18,
givenAmount: 10_002.175062202988939757 * 1e18,
collateralTaken: 918.751365080156804231 * 1e18,
isReward: true
});

Expand All @@ -1145,7 +1145,7 @@ contract ERC20PoolLiquidationsTakeTest is ERC20HelperContract {
bondFactor: 0,
kickTime: 0,
referencePrice: 0,
totalBondEscrowed: 192.644906931106436280 * 1e18,
totalBondEscrowed: 192.635914999367778602 * 1e18,
auctionPrice: 0,
debtInAuction: 0,
thresholdPrice: 0,
Expand All @@ -1155,7 +1155,7 @@ contract ERC20PoolLiquidationsTakeTest is ERC20HelperContract {
_assertBorrower({
borrower: _borrower2,
borrowerDebt: 0,
borrowerCollateral: 81.248845402670658374 * 1e18,
borrowerCollateral: 81.248634919843195769 * 1e18,
borrowert0Np: 0,
borrowerCollateralization: 1 * 1e18
});
Expand Down
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