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Document speed factor value #40

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merged 4 commits into from
Sep 28, 2023
Merged

Document speed factor value #40

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7c927fa
docs: speed factor
MathisGD Sep 28, 2023
ffaaaed
docs: improve comment on speed factor
MathisGD Sep 28, 2023
3de1b35
docs: fix min rate comment
MathisGD Sep 28, 2023
e969a32
docs: minor improvements
MathisGD Sep 28, 2023
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8 changes: 5 additions & 3 deletions src/SpeedJumpIrm.sol
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Expand Up @@ -36,15 +36,17 @@ contract SpeedJumpIrm is IIrm {

/* CONSTANTS */

/// @notice Max rate (1B% APR).
/// @notice Maximum rate per second (scaled by WAD) (1B% APR).
uint256 public constant MAX_RATE = uint256(1e7 ether) / 365 days;
/// @notice Min rate (0.1% APR).
/// @notice Mininimum rate per second (scaled by WAD) (0.1% APR).
uint256 public constant MIN_RATE = uint256(0.001 ether) / 365 days;
/// @notice Address of Morpho.
address public immutable MORPHO;
/// @notice Ln of the jump factor (scaled by WAD).
uint256 public immutable LN_JUMP_FACTOR;
/// @notice Speed factor (scaled by WAD).
/// @dev The speed is per second, so the rate moves at a speed of SPEED_FACTOR * err each second (while being
/// continuously compounded). A typical value for the SPEED_FACTOR would be 10 ethers / 365 days.
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uint256 public immutable SPEED_FACTOR;
/// @notice Target utilization (scaled by WAD).
uint256 public immutable TARGET_UTILIZATION;
Expand Down Expand Up @@ -146,7 +148,7 @@ contract SpeedJumpIrm is IIrm {
// Safe "unchecked" cast to uint256 because linearVariation < 0 <=> newBorrowRate <= borrowRateAfterJump.
else avgBorrowRate = uint256((int256(newBorrowRate) - int256(borrowRateAfterJump)).wDivDown(linearVariation));

// We bound both newBorrowRate and avgBorrowRate between 1e-18 and MAX_RATE.
// We bound both newBorrowRate and avgBorrowRate between MIN_RATE and MAX_RATE.
return (err, uint128(newBorrowRate.bound(MIN_RATE, MAX_RATE)), uint128(avgBorrowRate.bound(MIN_RATE, MAX_RATE)));
}
}