feat: add pool min_order_quote

client/docs/swagger-ui/swagger.yaml

@@ -12651,6 +12651,8 @@ paths:
                       format: int64
                     min_order_quantity:
                       type: string
+                    min_order_quote:
+                      type: string
                     current_tick:
                       type: integer
                       format: int32
@@ -12867,6 +12869,8 @@ paths:
                     format: int64
                   min_order_quantity:
                     type: string
+                  min_order_quote:
+                    type: string
                   current_tick:
                     type: integer
                     format: int32
@@ -20764,6 +20768,8 @@ definitions:
         format: int64
       min_order_quantity:
         type: string
+      min_order_quote:
+        type: string
       current_tick:
         type: integer
         format: int32
@@ -21025,6 +21031,8 @@ definitions:
               format: int64
             min_order_quantity:
               type: string
+            min_order_quote:
+              type: string
             current_tick:
               type: integer
               format: int32
@@ -21470,6 +21478,8 @@ definitions:
             format: int64
           min_order_quantity:
             type: string
+          min_order_quote:
+            type: string
           current_tick:
             type: integer
             format: int32

proto/crescent/amm/v1beta1/amm.proto

@@ -18,6 +18,8 @@ message Pool {
   uint32 tick_spacing       = 7;
   string min_order_quantity = 8
       [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec", (gogoproto.nullable) = false];
+  string min_order_quote = 9
+      [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec", (gogoproto.nullable) = false];
 }
 
 message PoolState {

proto/crescent/amm/v1beta1/event.proto

@@ -76,4 +76,5 @@ message EventPoolParameterChanged {
   uint64 pool_id            = 1;
   uint32 tick_spacing       = 2;
   string min_order_quantity = 3 [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec"];
+  string min_order_quote    = 4 [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec"];
 }

proto/crescent/amm/v1beta1/proposal.proto

@@ -41,4 +41,5 @@ message PoolParameterChange {
   uint64 pool_id            = 1;
   uint32 tick_spacing       = 2;
   string min_order_quantity = 3 [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec"];
+  string min_order_quote    = 4 [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec"];
 }

proto/crescent/amm/v1beta1/query.proto

@@ -182,16 +182,18 @@ message PoolResponse {
   uint32                   tick_spacing       = 7;
   string                   min_order_quantity = 8
       [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec", (gogoproto.nullable) = false];
-  int32  current_tick  = 9;
-  string current_price = 10
+  string min_order_quote = 9
       [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec", (gogoproto.nullable) = false];
-  string current_liquidity = 11
+  int32  current_tick  = 10;
+  string current_price = 11
+      [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec", (gogoproto.nullable) = false];
+  string current_liquidity = 12
       [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Int", (gogoproto.nullable) = false];
-  string total_liquidity = 12
+  string total_liquidity = 13
       [(gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Int", (gogoproto.nullable) = false];
-  repeated cosmos.base.v1beta1.DecCoin fee_growth_global = 13
+  repeated cosmos.base.v1beta1.DecCoin fee_growth_global = 14
       [(gogoproto.castrepeated) = "github.com/cosmos/cosmos-sdk/types.DecCoins", (gogoproto.nullable) = false];
-  repeated cosmos.base.v1beta1.DecCoin farming_rewards_growth_global = 14
+  repeated cosmos.base.v1beta1.DecCoin farming_rewards_growth_global = 15
       [(gogoproto.castrepeated) = "github.com/cosmos/cosmos-sdk/types.DecCoins", (gogoproto.nullable) = false];
 }
 

x/amm/keeper/pool.go

@@ -55,45 +55,34 @@ func (k Keeper) IteratePoolOrders(ctx sdk.Context, pool types.Pool, isBuy bool,
 	reserveBalance := k.bankKeeper.SpendableCoins(ctx, pool.MustGetReserveAddress()).
 		AmountOf(pool.DenomOut(isBuy)).ToDec()
 	orderLiquidity := poolState.CurrentLiquidity
-	currentSqrtPrice := utils.DecApproxSqrt(poolState.CurrentPrice)
+	currentPrice := poolState.CurrentPrice
 
 	iterCb := func(tick int32, tickInfo types.TickInfo) (stop bool) {
 		if orderLiquidity.IsPositive() {
-			prevTick := poolState.CurrentTick
 			for {
 				if !reserveBalance.IsPositive() {
 					return true
 				}
-
-				var orderTick int32
+				var (
+					orderTick int32
+					valid     bool
+				)
 				if isBuy {
-					// L^2 + 4 * MinQty * L * sqrt(P_current)
-					intermediate := orderLiquidity.ToDec().Power(2).Add(
-						pool.MinOrderQuantity.MulInt(orderLiquidity).MulTruncate(currentSqrtPrice).MulInt64(4))
-					orderSqrtPrice := utils.DecApproxSqrt(intermediate).Sub(orderLiquidity.ToDec()).
-						QuoTruncate(pool.MinOrderQuantity.MulInt64(2))
-					orderPrice := orderSqrtPrice.Power(2)
-					orderTick = types.AdjustPriceToTickSpacing(orderPrice, pool.TickSpacing, false)
-					if orderTick >= prevTick {
-						orderTick = types.AdjustTickToTickSpacing(prevTick, pool.TickSpacing, false) - int32(pool.TickSpacing)
-					}
-					if orderTick < tick {
+					orderTick, valid = NextOrderTick(
+						true, orderLiquidity, currentPrice, pool.MinOrderQuantity, pool.MinOrderQuote, pool.TickSpacing)
+					if !valid || orderTick < tick {
 						orderTick = tick
 					}
 				} else {
-					orderSqrtPrice := currentSqrtPrice.MulInt(orderLiquidity).
-						QuoRoundUp(orderLiquidity.ToDec().Sub(pool.MinOrderQuantity.Mul(currentSqrtPrice)))
-					orderPrice := orderSqrtPrice.Power(2)
-					orderTick = types.AdjustPriceToTickSpacing(orderPrice, pool.TickSpacing, true)
-					if orderTick <= prevTick {
-						orderTick = types.AdjustTickToTickSpacing(prevTick, pool.TickSpacing, true) + int32(pool.TickSpacing)
-					}
-					if orderTick > tick {
+					orderTick, valid = NextOrderTick(
+						false, orderLiquidity, currentPrice, pool.MinOrderQuantity, pool.MinOrderQuote, pool.TickSpacing)
+					if !valid || orderTick > tick {
 						orderTick = tick
 					}
 				}
 				orderPrice := exchangetypes.PriceAtTick(orderTick)
 				orderSqrtPrice := utils.DecApproxSqrt(orderPrice)
+				currentSqrtPrice := utils.DecApproxSqrt(currentPrice)
 				var qty sdk.Dec
 				if isBuy {
 					qty = sdk.MinDec(
@@ -109,16 +98,14 @@ func (k Keeper) IteratePoolOrders(ctx sdk.Context, pool types.Pool, isBuy bool,
 						return true
 					}
 					reserveBalance = reserveBalance.Sub(exchangetypes.DepositAmount(isBuy, orderPrice, qty))
-					currentSqrtPrice = orderSqrtPrice
+					currentPrice = orderPrice
 				}
-
 				if orderTick == tick {
 					break
 				}
-				prevTick = orderTick
 			}
 		} else {
-			currentSqrtPrice = types.SqrtPriceAtTick(tick)
+			currentPrice = exchangetypes.PriceAtTick(tick)
 		}
 		if isBuy {
 			orderLiquidity = orderLiquidity.Sub(tickInfo.NetLiquidity)
@@ -133,3 +120,41 @@ func (k Keeper) IteratePoolOrders(ctx sdk.Context, pool types.Pool, isBuy bool,
 		k.IterateTickInfosAbove(ctx, pool.Id, poolState.CurrentTick, iterCb)
 	}
 }
+
+func NextOrderTick(
+	isBuy bool, liquidity sdk.Int, currentPrice, minOrderQty, minOrderQuote sdk.Dec, tickSpacing uint32) (tick int32, valid bool) {
+	currentSqrtPrice := utils.DecApproxSqrt(currentPrice)
+	liquidityDec := liquidity.ToDec()
+	if isBuy {
+		// 1. Check min order qty
+		// L^2 + 4 * MinQty * L * sqrt(P_current)
+		intermediate := liquidityDec.Power(2).Add(
+			minOrderQty.Mul(liquidityDec).MulTruncate(currentSqrtPrice).MulInt64(4))
+		orderSqrtPrice := utils.DecApproxSqrt(intermediate).Sub(liquidityDec).QuoTruncate(minOrderQty.MulInt64(2))
+		if !orderSqrtPrice.IsPositive() || orderSqrtPrice.GTE(currentSqrtPrice) {
+			return 0, false
+		}
+		// 2. Check min order quote
+		orderSqrtPrice2 := currentSqrtPrice.Mul(liquidityDec).Sub(minOrderQuote).QuoTruncate(liquidityDec)
+		if !orderSqrtPrice2.IsPositive() || orderSqrtPrice2.GTE(currentSqrtPrice) {
+			return 0, false
+		}
+		orderPrice := sdk.MinDec(orderSqrtPrice, orderSqrtPrice2).Power(2)
+		tick = types.AdjustPriceToTickSpacing(orderPrice, tickSpacing, false)
+		return tick, true
+	}
+	// 1. Check min order qty
+	orderSqrtPrice := currentSqrtPrice.Mul(liquidityDec).
+		QuoRoundUp(liquidityDec.Sub(minOrderQty.Mul(currentSqrtPrice)))
+	if !orderSqrtPrice.IsPositive() || orderSqrtPrice.LTE(currentSqrtPrice) {
+		return 0, false
+	}
+	// 2. Check min order quote
+	orderSqrtPrice2 := minOrderQuote.Mul(currentSqrtPrice).QuoRoundUp(liquidityDec).Add(currentSqrtPrice)
+	if !orderSqrtPrice2.IsPositive() || orderSqrtPrice2.LTE(currentSqrtPrice) {
+		return 0, false
+	}
+	orderPrice := sdk.MaxDec(orderSqrtPrice, orderSqrtPrice2).Power(2)
+	tick = types.AdjustPriceToTickSpacing(orderPrice, tickSpacing, true)
+	return tick, true
+}

x/amm/keeper/pool_bench_test.go

@@ -15,10 +15,7 @@ import (
 
 func BenchmarkPoolOrders(b *testing.B) {
 	app := chain.Setup(false)
-	ctx := app.NewContext(false, tmproto.Header{
-		Height: 0,
-		Time:   utils.ParseTime("2023-01-01T00:00:00Z"),
-	})
+	ctx := app.NewContext(false, tmproto.Header{})
 
 	creatorAddr := utils.TestAddress(0)
 	require.NoError(
@@ -61,10 +58,7 @@ func BenchmarkPoolOrders(b *testing.B) {
 // XXX
 func BenchmarkPlaceBuyMarketOrder(b *testing.B) {
 	app := chain.Setup(false)
-	ctx := app.NewContext(false, tmproto.Header{
-		Height: 0,
-		Time:   utils.ParseTime("2023-01-01T00:00:00Z"),
-	})
+	ctx := app.NewContext(false, tmproto.Header{})
 
 	creatorAddr := utils.TestAddress(0)
 	require.NoError(
@@ -94,3 +88,36 @@ func BenchmarkPlaceBuyMarketOrder(b *testing.B) {
 		require.NoError(b, err)
 	}
 }
+
+func BenchmarkPoolOrdersSkewedPrice(b *testing.B) {
+	app := chain.Setup(false)
+	ctx := app.NewContext(false, tmproto.Header{})
+
+	creatorAddr := utils.TestAddress(0)
+	require.NoError(
+		b, chain.FundAccount(app.BankKeeper, ctx, creatorAddr, enoughCoins))
+
+	market, err := app.ExchangeKeeper.CreateMarket(ctx, creatorAddr, "ucre", "uusd")
+	require.NoError(b, err)
+
+	pool, err := app.AMMKeeper.CreatePool(ctx, creatorAddr, market.Id, utils.ParseDec("500"))
+	require.NoError(b, err)
+
+	lpAddr := utils.TestAddress(1)
+	require.NoError(b, chain.FundAccount(app.BankKeeper, ctx, lpAddr, enoughCoins))
+
+	_, _, _, err = app.AMMKeeper.AddLiquidity(
+		ctx, lpAddr, lpAddr, pool.Id, types.MinPrice, types.MaxPrice,
+		utils.ParseCoins("10_000000ucre,50_000000uusd"))
+	require.NoError(b, err)
+
+	ordererAddr := utils.TestAddress(2)
+	require.NoError(b, chain.FundAccount(app.BankKeeper, ctx, ordererAddr, enoughCoins))
+	b.ResetTimer()
+
+	for i := 0; i < b.N; i++ {
+		cacheCtx, _ := ctx.CacheContext()
+		_, _, err := app.ExchangeKeeper.PlaceMarketOrder(cacheCtx, market.Id, ordererAddr, true, sdk.NewDec(100_000000))
+		require.NoError(b, err)
+	}
+}

x/amm/keeper/proposal_handler.go

@@ -25,10 +25,15 @@ func HandlePoolParameterChangeProposal(ctx sdk.Context, k Keeper, p *types.PoolP
 		if change.MinOrderQuantity != nil {
 			pool.MinOrderQuantity = *change.MinOrderQuantity
 		}
+		if change.MinOrderQuote != nil {
+			pool.MinOrderQuote = *change.MinOrderQuote
+		}
 		k.SetPool(ctx, pool)
 		if err := ctx.EventManager().EmitTypedEvent(&types.EventPoolParameterChanged{
-			PoolId:      change.PoolId,
-			TickSpacing: change.TickSpacing,
+			PoolId:           change.PoolId,
+			TickSpacing:      change.TickSpacing,
+			MinOrderQuantity: change.MinOrderQuantity,
+			MinOrderQuote:    change.MinOrderQuote,
 		}); err != nil {
 			return err
 		}

x/amm/keeper/proposal_handler_test.go

@@ -13,7 +13,7 @@ func (s *KeeperTestSuite) TestPoolParameterChangeProposal() {
 	// Change tick spacing only
 	proposal := types.NewPoolParameterChangeProposal(
 		"Title", "Description", []types.PoolParameterChange{
-			types.NewPoolParameterChange(pool.Id, 10, nil),
+			types.NewPoolParameterChange(pool.Id, 10, nil, nil),
 		})
 	s.Require().NoError(proposal.ValidateBasic())
 	s.Require().NoError(handler(s.Ctx, proposal))
@@ -24,30 +24,42 @@ func (s *KeeperTestSuite) TestPoolParameterChangeProposal() {
 	// Change min order qty only
 	proposal = types.NewPoolParameterChangeProposal(
 		"Title", "Description", []types.PoolParameterChange{
-			types.NewPoolParameterChange(pool.Id, 0, utils.ParseDecP("10000")),
+			types.NewPoolParameterChange(pool.Id, 0, utils.ParseDecP("10000"), nil),
 		})
 	s.Require().NoError(proposal.ValidateBasic())
 	s.Require().NoError(handler(s.Ctx, proposal))
 
 	pool, _ = s.keeper.GetPool(s.Ctx, pool.Id)
 	s.AssertEqual(utils.ParseDec("10000"), pool.MinOrderQuantity)
 
-	// Change both
+	// Change min order quote only
 	proposal = types.NewPoolParameterChangeProposal(
 		"Title", "Description", []types.PoolParameterChange{
-			types.NewPoolParameterChange(pool.Id, 5, utils.ParseDecP("1000000")),
+			types.NewPoolParameterChange(pool.Id, 0, nil, utils.ParseDecP("1000")),
+		})
+	s.Require().NoError(proposal.ValidateBasic())
+	s.Require().NoError(handler(s.Ctx, proposal))
+
+	pool, _ = s.keeper.GetPool(s.Ctx, pool.Id)
+	s.AssertEqual(utils.ParseDec("1000"), pool.MinOrderQuote)
+
+	// Change altogether
+	proposal = types.NewPoolParameterChangeProposal(
+		"Title", "Description", []types.PoolParameterChange{
+			types.NewPoolParameterChange(pool.Id, 5, utils.ParseDecP("1000000"), utils.ParseDecP("10000")),
 		})
 	s.Require().NoError(proposal.ValidateBasic())
 	s.Require().NoError(handler(s.Ctx, proposal))
 
 	pool, _ = s.keeper.GetPool(s.Ctx, pool.Id)
 	s.Require().EqualValues(5, pool.TickSpacing)
 	s.AssertEqual(utils.ParseDec("1000000"), pool.MinOrderQuantity)
+	s.AssertEqual(utils.ParseDec("10000"), pool.MinOrderQuote)
 
 	// Failing cases
 	proposal = types.NewPoolParameterChangeProposal(
 		"Title", "Description", []types.PoolParameterChange{
-			types.NewPoolParameterChange(pool.Id, 5, nil),
+			types.NewPoolParameterChange(pool.Id, 5, nil, nil),
 		})
 	s.Require().NoError(proposal.ValidateBasic())
 	// Same tick spacing

x/amm/simulation/proposals.go

@@ -49,9 +49,10 @@ func SimulatePoolParameterChangeProposal(k keeper.Keeper) simtypes.ContentSimula
 				if len(allowedTickSpacings) > 0 {
 					tickSpacing = allowedTickSpacings[r.Intn(len(allowedTickSpacings))]
 				}
-				minOrderQty := utils.RandomDec(r, utils.ParseDec("1"), utils.ParseDec("10000"))
+				minOrderQty := utils.RandomDec(r, utils.ParseDec("1"), utils.ParseDec("1000000"))
+				minOrderQuote := utils.RandomDec(r, utils.ParseDec("1"), utils.ParseDec("1000000"))
 				changes = append(changes,
-					types.NewPoolParameterChange(pool.Id, tickSpacing, &minOrderQty))
+					types.NewPoolParameterChange(pool.Id, tickSpacing, &minOrderQty, &minOrderQuote))
 			}
 			return false
 		})