fix: increase price calc precision for high exponent assets

CHANGELOG.md

@@ -46,6 +46,14 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ## [Unreleased]
 
+### Features
+
+- [1633](https://github.com/umee-network/umee/pull/1633) MarketSummary query now displays symbol price instead of base price for readability.
+
+### Fixes
+
+- [1633](https://github.com/umee-network/umee/pull/1633) Increases price calculation precision for high exponent assets.
+
 ## [v3.2.0](https://github.com/umee-network/umee/releases/tag/v3.2.0) - 2022-11-25
 
 Since `umeed v3.2` there is a new runtime dependency: `libwasmvm.x86_64.so v1.1.1` is required.

proto/umee/leverage/v1/query.proto

@@ -86,7 +86,7 @@ message QueryMarketSummaryResponse {
   string symbol_denom = 1;
   // Exponent is the power of ten required to get from base denom to symbol denom. For example, an exponent of 6 means 10^6 uumee = 1 UMEE.
   uint32 exponent = 2;
-  // Oracle Price is the current USD value of a base token. Exponent must be applied to reach the price from symbol_denom. For example, a price of $0.000001 for 1 uumee is equivalent to $1.00 for 1 UMEE. Oracle price is nil when the oracle is down.
+  // Oracle Price is the current USD value of a token. Oracle price is nil when the oracle is down.
   string oracle_price = 3 [
     (gogoproto.customtype) = "github.com/cosmos/cosmos-sdk/types.Dec",
     (gogoproto.nullable)   = true

swagger/swagger.yaml

@@ -311,10 +311,8 @@ paths:
               oracle_price:
                 type: string
                 description: >-
-                  Oracle Price is the current USD value of a base token.
-                  Exponent must be applied to reach the price from symbol_denom.
-                  For example, a price of $0.000001 for 1 uumee is equivalent to
-                  $1.00 for 1 UMEE. Oracle price is nil when the oracle is down.
+                  Oracle Price is the current USD value of a token. Oracle price
+                  is nil when the oracle is down.
               uToken_exchange_rate:
                 type: string
                 description: >-
@@ -862,9 +860,77 @@ paths:
                       format: byte
       tags:
         - Query
+  /umee/historacle/v1/denoms/median_deviations:
+    get:
+      summary: |-
+        MedianDeviations returns median deviations of all denoms,
+        or, if specified, returns a single median deviation
+      operationId: MedianDeviations
+      responses:
+        '200':
+          description: A successful response.
+          schema:
+            type: object
+            properties:
+              medianDeviations:
+                type: array
+                items:
+                  type: object
+                  properties:
+                    denom:
+                      type: string
+                    amount:
+                      type: string
+                  description: >-
+                    DecCoin defines a token with a denomination and a decimal
+                    amount.
+
+
+                    NOTE: The amount field is an Dec which implements the custom
+                    method
+
+                    signatures required by gogoproto.
+                description: >-
+                  medians defines a list of the median deviations for all
+                  stamped denoms.
+            description: |-
+              QueryMedianDeviationsResponse is response type for the
+              Query/MedianDeviations RPC method.
+        default:
+          description: An unexpected error response.
+          schema:
+            type: object
+            properties:
+              error:
+                type: string
+              code:
+                type: integer
+                format: int32
+              message:
+                type: string
+              details:
+                type: array
+                items:
+                  type: object
+                  properties:
+                    type_url:
+                      type: string
+                    value:
+                      type: string
+                      format: byte
+      parameters:
+        - name: denom
+          description: denom defines the denomination to query for.
+          in: query
+          required: false
+          type: string
+      tags:
+        - Query
   /umee/historacle/v1/denoms/medians:
     get:
-      summary: Medians returns medians of all denoms
+      summary: |-
+        Medians returns medians of all denoms,
+        or, if specified, returns a single median
       operationId: Medians
       responses:
         '200':
@@ -1098,6 +1164,38 @@ paths:
                       we want
 
                       to keep a record of our set of exchange rates.
+                  median_period:
+                    type: string
+                    format: uint64
+                    description: >-
+                      Median Period represents the amount blocks we will wait
+                      between
+
+                      calculating the median and standard deviation of the
+                      median of
+
+                      historic prices in the last Prune Period.
+                  historic_accept_list:
+                    type: array
+                    items:
+                      type: object
+                      properties:
+                        base_denom:
+                          type: string
+                        symbol_denom:
+                          type: string
+                        exponent:
+                          type: integer
+                          format: int64
+                      title: Denom - the object to hold configurations of each denom
+                    description: >-
+                      Historic Asset List is a list of assets which will use the
+                      historic
+
+                      price stamping protection methodology (mainly
+                      manipulatable assets).
+
+                      Any assets not on this list will not be stamped.
             description: >-
               QueryParamsResponse is the response type for the Query/Params RPC
               method.
@@ -1797,10 +1895,8 @@ definitions:
       oracle_price:
         type: string
         description: >-
-          Oracle Price is the current USD value of a base token. Exponent must
-          be applied to reach the price from symbol_denom. For example, a price
-          of $0.000001 for 1 uumee is equivalent to $1.00 for 1 UMEE. Oracle
-          price is nil when the oracle is down.
+          Oracle Price is the current USD value of a token. Oracle price is nil
+          when the oracle is down.
       uToken_exchange_rate:
         type: string
         description: >-
@@ -2515,6 +2611,30 @@ definitions:
         description: |-
           Prune Period represents the maximum amount of blocks which we want
           to keep a record of our set of exchange rates.
+      median_period:
+        type: string
+        format: uint64
+        description: |-
+          Median Period represents the amount blocks we will wait between
+          calculating the median and standard deviation of the median of
+          historic prices in the last Prune Period.
+      historic_accept_list:
+        type: array
+        items:
+          type: object
+          properties:
+            base_denom:
+              type: string
+            symbol_denom:
+              type: string
+            exponent:
+              type: integer
+              format: int64
+          title: Denom - the object to hold configurations of each denom
+        description: |-
+          Historic Asset List is a list of assets which will use the historic
+          price stamping protection methodology (mainly manipulatable assets).
+          Any assets not on this list will not be stamped.
     description: Params defines the parameters for the oracle module.
   umee.oracle.v1.QueryActiveExchangeRatesResponse:
     type: object
@@ -2688,6 +2808,29 @@ definitions:
     description: |-
       QueryFeederDelegationResponse is response type for the
       Query/FeederDelegation RPC method.
+  umee.oracle.v1.QueryMedianDeviationsResponse:
+    type: object
+    properties:
+      medianDeviations:
+        type: array
+        items:
+          type: object
+          properties:
+            denom:
+              type: string
+            amount:
+              type: string
+          description: |-
+            DecCoin defines a token with a denomination and a decimal amount.
+
+            NOTE: The amount field is an Dec which implements the custom method
+            signatures required by gogoproto.
+        description: >-
+          medians defines a list of the median deviations for all stamped
+          denoms.
+    description: |-
+      QueryMedianDeviationsResponse is response type for the
+      Query/MedianDeviations RPC method.
   umee.oracle.v1.QueryMediansResponse:
     type: object
     properties:
@@ -2768,6 +2911,34 @@ definitions:
             description: |-
               Prune Period represents the maximum amount of blocks which we want
               to keep a record of our set of exchange rates.
+          median_period:
+            type: string
+            format: uint64
+            description: |-
+              Median Period represents the amount blocks we will wait between
+              calculating the median and standard deviation of the median of
+              historic prices in the last Prune Period.
+          historic_accept_list:
+            type: array
+            items:
+              type: object
+              properties:
+                base_denom:
+                  type: string
+                symbol_denom:
+                  type: string
+                exponent:
+                  type: integer
+                  format: int64
+              title: Denom - the object to hold configurations of each denom
+            description: >-
+              Historic Asset List is a list of assets which will use the
+              historic
+
+              price stamping protection methodology (mainly manipulatable
+              assets).
+
+              Any assets not on this list will not be stamped.
     description: QueryParamsResponse is the response type for the Query/Params RPC method.
   umee.oracle.v1.QuerySlashWindowResponse:
     type: object

x/leverage/client/tests/tests.go

@@ -49,7 +49,7 @@ func (s *IntegrationTestSuite) TestInvalidQueries() {
 func (s *IntegrationTestSuite) TestLeverageScenario() {
 	val := s.network.Validators[0]
 
-	oraclePrice := sdk.MustNewDecFromStr("0.00003421")
+	oracleSymbolPrice := sdk.MustNewDecFromStr("34.21")
 
 	initialQueries := []testQuery{
 		{
@@ -105,7 +105,7 @@ func (s *IntegrationTestSuite) TestLeverageScenario() {
 			&types.QueryMarketSummaryResponse{
 				SymbolDenom:        "UMEE",
 				Exponent:           6,
-				OraclePrice:        &oraclePrice,
+				OraclePrice:        &oracleSymbolPrice,
 				UTokenExchangeRate: sdk.OneDec(),
 				// Borrow rate * (1 - ReserveFactor - OracleRewardFactor)
 				// 1.50 * (1 - 0.10 - 0.01) = 0.89 * 1.5 = 1.335

x/leverage/fixtures/token.go

@@ -9,14 +9,16 @@ import (
 const (
 	// AtomDenom is an ibc denom to be used as ATOM's BaseDenom during testing. Matches mainnet.
 	AtomDenom = "ibc/C4CFF46FD6DE35CA4CF4CE031E643C8FDC9BA4B99AE598E9B0ED98FE3A2319F9"
+	// DaiDenom is an ibc denom to be used as DAI's BaseDenom during testing. Matches mainnet.
+	DaiDenom = "ibc/C86651B4D30C1739BF8B061E36F4473A0C9D60380B52D01E56A6874037A5D060"
 )
 
 // Token returns a valid token
-func Token(base, symbol string) types.Token {
+func Token(base, symbol string, exponent uint32) types.Token {
 	return types.Token{
 		BaseDenom:              base,
 		SymbolDenom:            symbol,
-		Exponent:               6,
+		Exponent:               exponent,
 		ReserveFactor:          sdk.MustNewDecFromStr("0.2"),
 		CollateralWeight:       sdk.MustNewDecFromStr("0.25"),
 		LiquidationThreshold:   sdk.MustNewDecFromStr("0.25"),

x/leverage/keeper/grpc_query.go

@@ -135,7 +135,7 @@ func (q Querier) MarketSummary(
 	}
 
 	// Oracle price in response will be nil if it is unavailable
-	if oraclePrice, oracleErr := q.Keeper.TokenPrice(ctx, req.Denom); oracleErr == nil {
+	if oraclePrice, _, oracleErr := q.Keeper.TokenDefaultDenomPrice(ctx, req.Denom); oracleErr == nil {
 		resp.OraclePrice = &oraclePrice
 	}
 

x/leverage/keeper/grpc_query_test.go

@@ -14,7 +14,7 @@ func (s *IntegrationTestSuite) TestQuerier_RegisteredTokens() {
 
 	resp, err := s.queryClient.RegisteredTokens(ctx.Context(), &types.QueryRegisteredTokens{})
 	require.NoError(err)
-	require.Len(resp.Registry, 2, "token registry length")
+	require.Len(resp.Registry, 3, "token registry length")
 }
 
 func (s *IntegrationTestSuite) TestQuerier_Params() {
@@ -36,12 +36,12 @@ func (s *IntegrationTestSuite) TestQuerier_MarketSummary() {
 	resp, err := s.queryClient.MarketSummary(context.Background(), req)
 	require.NoError(err)
 
-	oraclePrice := sdk.MustNewDecFromStr("0.00000421")
+	oracleSymbolPrice := sdk.MustNewDecFromStr("4.21")
 
 	expected := types.QueryMarketSummaryResponse{
 		SymbolDenom:            "UMEE",
 		Exponent:               6,
-		OraclePrice:            &oraclePrice,
+		OraclePrice:            &oracleSymbolPrice,
 		UTokenExchangeRate:     sdk.OneDec(),
 		Supply_APY:             sdk.MustNewDecFromStr("1.2008"),
 		Borrow_APY:             sdk.MustNewDecFromStr("1.52"),

x/leverage/keeper/iter_test.go

@@ -20,7 +20,7 @@ func (s *IntegrationTestSuite) TestGetEligibleLiquidationTargets_OneAddrOneAsset
 	require.Equal([]sdk.AccAddress{}, zeroAddresses)
 
 	// Note: Setting umee liquidation threshold to 0.05 to make the user eligible to liquidation
-	umeeToken := newToken("uumee", "UMEE")
+	umeeToken := newToken("uumee", "UMEE", 6)
 	umeeToken.CollateralWeight = sdk.MustNewDecFromStr("0.05")
 	umeeToken.LiquidationThreshold = sdk.MustNewDecFromStr("0.05")
 
@@ -58,14 +58,14 @@ func (s *IntegrationTestSuite) TestGetEligibleLiquidationTargets_OneAddrTwoAsset
 	s.borrow(addr, coin(atomDenom, 4_000000))
 
 	// Note: Setting umee liquidation threshold to 0.05 to make the user eligible for liquidation
-	umeeToken := newToken("uumee", "UMEE")
+	umeeToken := newToken("uumee", "UMEE", 6)
 	umeeToken.CollateralWeight = sdk.MustNewDecFromStr("0.05")
 	umeeToken.LiquidationThreshold = sdk.MustNewDecFromStr("0.05")
 
 	require.NoError(app.LeverageKeeper.SetTokenSettings(s.ctx, umeeToken))
 
 	// Note: Setting atom collateral weight to 0.01 to make the user eligible for liquidation
-	atomIBCToken := newToken(atomDenom, "ATOM")
+	atomIBCToken := newToken(atomDenom, "ATOM", 6)
 	atomIBCToken.CollateralWeight = sdk.MustNewDecFromStr("0.01")
 	atomIBCToken.LiquidationThreshold = sdk.MustNewDecFromStr("0.01")
 
@@ -100,14 +100,14 @@ func (s *IntegrationTestSuite) TestGetEligibleLiquidationTargets_TwoAddr() {
 	s.borrow(addr2, coin(atomDenom, 24))
 
 	// Note: Setting umee liquidation threshold to 0.05 to make the first supplier eligible for liquidation
-	umeeToken := newToken("uumee", "UMEE")
+	umeeToken := newToken("uumee", "UMEE", 6)
 	umeeToken.CollateralWeight = sdk.MustNewDecFromStr("0.05")
 	umeeToken.LiquidationThreshold = sdk.MustNewDecFromStr("0.05")
 
 	require.NoError(app.LeverageKeeper.SetTokenSettings(s.ctx, umeeToken))
 
 	// Note: Setting atom collateral weight to 0.01 to make the second supplier eligible for liquidation
-	atomIBCToken := newToken(atomDenom, "ATOM")
+	atomIBCToken := newToken(atomDenom, "ATOM", 6)
 	atomIBCToken.CollateralWeight = sdk.MustNewDecFromStr("0.01")
 	atomIBCToken.LiquidationThreshold = sdk.MustNewDecFromStr("0.01")
 

x/leverage/keeper/keeper.go

@@ -372,9 +372,9 @@ func (k Keeper) Decollateralize(ctx sdk.Context, borrowerAddr sdk.AccAddress, uT
 // Because partial liquidation is possible and exchange rates vary, Liquidate returns the actual amount of
 // tokens repaid, collateral liquidated, and base tokens or uTokens rewarded.
 func (k Keeper) Liquidate(
-	ctx sdk.Context, liquidatorAddr, borrowerAddr sdk.AccAddress, maxRepay sdk.Coin, rewardDenom string,
+	ctx sdk.Context, liquidatorAddr, borrowerAddr sdk.AccAddress, requestedRepay sdk.Coin, rewardDenom string,
 ) (repaid sdk.Coin, liquidated sdk.Coin, reward sdk.Coin, err error) {
-	if err := k.validateAcceptedAsset(ctx, maxRepay); err != nil {
+	if err := k.validateAcceptedAsset(ctx, requestedRepay); err != nil {
 		return sdk.Coin{}, sdk.Coin{}, sdk.Coin{}, err
 	}
 
@@ -393,7 +393,7 @@ func (k Keeper) Liquidate(
 		ctx,
 		liquidatorAddr,
 		borrowerAddr,
-		maxRepay,
+		requestedRepay,
 		rewardDenom,
 		directLiquidation,
 	)