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Update DFI DUSD vault collateral requirement rules (#1450)
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* Update DFI DUSD vault collateral requirement rules

Co-authored-by: Prasanna Loganathar <pvl@prasannavl.com>
Co-authored-by: Mambisi Zempare <lilbizi96@gmail.com>
Co-authored-by: Peter Bushnell <bushsolo@gmail.com>
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@dcorral @prasannavl
@mambisi @Bushstar
4 people authored Sep 12, 2022
1 parent 445a98c commit 12eae63
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Showing 5 changed files with 659 additions and 45 deletions.
134 changes: 94 additions & 40 deletions src/masternodes/mn_checks.cpp
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Original file line number Diff line number Diff line change
Expand Up @@ -26,6 +26,9 @@

#include <algorithm>

constexpr std::string_view ERR_STRING_MIN_COLLATERAL_DFI_PCT = "At least 50%% of the minimum required collateral must be in DFI";
constexpr std::string_view ERR_STRING_MIN_COLLATERAL_DFI_DUSD_PCT = "At least 50%% of the minimum required collateral must be in DFI or DUSD";

std::string ToString(CustomTxType type) {
switch (type)
{
Expand Down Expand Up @@ -2963,6 +2966,65 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
return mnview.UpdateVault(obj.vaultId, *vault);
}

Res CollateralPctCheck(const bool hasDUSDLoans, const CCollateralLoans& collateralsLoans, const uint32_t ratio) const {

std::optional<std::pair<DCT_ID, std::optional<CTokensView::CTokenImpl>>> tokenDUSD;
if (static_cast<int>(height) >= consensus.FortCanningRoadHeight) {
tokenDUSD = mnview.GetToken("DUSD");
}

// Calculate DFI and DUSD value separately
uint64_t totalCollateralsDUSD = 0;
uint64_t totalCollateralsDFI = 0;

for (auto& col : collateralsLoans.collaterals){
if (col.nTokenId == DCT_ID{0} )
totalCollateralsDFI += col.nValue;

if(tokenDUSD && col.nTokenId == tokenDUSD->first)
totalCollateralsDUSD += col.nValue;
}
auto totalCollaterals = totalCollateralsDUSD + totalCollateralsDFI;

// Height checks
auto isPostFCH = static_cast<int>(height) >= consensus.FortCanningHillHeight;
auto isPreFCH = static_cast<int>(height) < consensus.FortCanningHillHeight;
auto isPostFCE = static_cast<int>(height) >= consensus.FortCanningEpilogueHeight;
auto isPostFCR = static_cast<int>(height) >= consensus.FortCanningRoadHeight;

// Condition checks
auto isDFILessThanHalfOfTotalCollateral = totalCollateralsDFI < collateralsLoans.totalCollaterals / 2;
auto isDFIAndDUSDLessThanHalfOfRequiredCollateral = arith_uint256(totalCollaterals) * 100 < (arith_uint256(collateralsLoans.totalLoans) * ratio / 2);
auto isDFILessThanHalfOfRequiredCollateral = arith_uint256(totalCollateralsDFI) * 100 < (arith_uint256(collateralsLoans.totalLoans) * ratio / 2);

if(isPostFCE){
if (hasDUSDLoans){
if(isDFILessThanHalfOfRequiredCollateral)
return Res::Err(std::string(ERR_STRING_MIN_COLLATERAL_DFI_PCT));
}else {
if(isDFIAndDUSDLessThanHalfOfRequiredCollateral)
return Res::Err(std::string(ERR_STRING_MIN_COLLATERAL_DFI_DUSD_PCT));
}
return Res::Ok();
}

if (isPostFCR)
return isDFIAndDUSDLessThanHalfOfRequiredCollateral ?
Res::Err(std::string(ERR_STRING_MIN_COLLATERAL_DFI_DUSD_PCT)) :
Res::Ok();

if (isPostFCH)
return isDFILessThanHalfOfRequiredCollateral ?
Res::Err(std::string(ERR_STRING_MIN_COLLATERAL_DFI_PCT)) :
Res::Ok();

if (isPreFCH && isDFILessThanHalfOfTotalCollateral)
return Res::Err(std::string(ERR_STRING_MIN_COLLATERAL_DFI_PCT));

return Res::Ok();
}


Res operator()(const CDepositToVaultMessage& obj) const {
auto res = CheckCustomTx();
if (!res)
Expand Down Expand Up @@ -2996,8 +3058,7 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
return Res::Err("Insufficient funds: can't subtract balance of %s: %s\n", ScriptToString(obj.from), res.msg);

res = mnview.AddVaultCollateral(obj.vaultId, obj.amount);
if (!res)
return res;
if (!res) return res;

bool useNextPrice = false, requireLivePrice = false;
auto collaterals = mnview.GetVaultCollaterals(obj.vaultId);
Expand Down Expand Up @@ -3038,10 +3099,22 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
if (!res)
return res;

auto hasDUSDLoans = false;

std::optional<std::pair<DCT_ID, std::optional<CTokensView::CTokenImpl>>> tokenDUSD;
if (static_cast<int>(height) >= consensus.FortCanningRoadHeight) {
tokenDUSD = mnview.GetToken("DUSD");
}

if (const auto loanAmounts = mnview.GetLoanTokens(obj.vaultId))
{
// Update negative interest in vault
for (const auto& [tokenId, currentLoanAmount] : loanAmounts->balances) {

if (tokenDUSD && tokenId == tokenDUSD->first) {
hasDUSDLoans = true;
}

const auto rate = mnview.GetInterestRate(obj.vaultId, tokenId, height);
assert(rate);

Expand All @@ -3061,14 +3134,12 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
TrackNegativeInterest(mnview, {tokenId, subAmount});

mnview.ResetInterest(height, obj.vaultId, vault->schemeId, tokenId);

}

if (auto collaterals = mnview.GetVaultCollaterals(obj.vaultId))
{
std::optional<std::pair<DCT_ID, std::optional<CTokensView::CTokenImpl>>> tokenDUSD;
if (static_cast<int>(height) >= consensus.FortCanningRoadHeight) {
tokenDUSD = mnview.GetToken("DUSD");
}

const auto scheme = mnview.GetLoanScheme(vault->schemeId);
for (int i = 0; i < 2; i++) {
// check collaterals for active and next price
Expand All @@ -3081,21 +3152,9 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
if (collateralsLoans.val->ratio() < scheme->ratio)
return Res::Err("Vault does not have enough collateralization ratio defined by loan scheme - %d < %d", collateralsLoans.val->ratio(), scheme->ratio);

uint64_t totalCollaterals = 0;

for (auto& col : collateralsLoans.val->collaterals)
if (col.nTokenId == DCT_ID{0}
|| (tokenDUSD && col.nTokenId == tokenDUSD->first))
totalCollaterals += col.nValue;

if (static_cast<int>(height) < consensus.FortCanningHillHeight) {
if (totalCollaterals < collateralsLoans.val->totalCollaterals / 2)
return Res::Err("At least 50%% of the collateral must be in DFI");
} else {
if (arith_uint256(totalCollaterals) * 100 < arith_uint256(collateralsLoans.val->totalLoans) * scheme->ratio / 2)
return static_cast<int>(height) < consensus.FortCanningRoadHeight ? Res::Err("At least 50%% of the minimum required collateral must be in DFI")
: Res::Err("At least 50%% of the minimum required collateral must be in DFI or DUSD");
}
res = CollateralPctCheck(hasDUSDLoans, collateralsLoans, scheme->ratio);
if(!res)
return res;
}
} else {
return Res::Err("Cannot withdraw all collaterals as there are still active loans in this vault");
Expand Down Expand Up @@ -3151,6 +3210,13 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor

const auto loanAmounts = mnview.GetLoanTokens(obj.vaultId);

auto hasDUSDLoans = false;

std::optional<std::pair<DCT_ID, std::optional<CTokensView::CTokenImpl>>> tokenDUSD;
if (static_cast<int>(height) >= consensus.FortCanningRoadHeight) {
tokenDUSD = mnview.GetToken("DUSD");
}

uint64_t totalLoansActivePrice = 0, totalLoansNextPrice = 0;
for (const auto& [tokenId, tokenAmount] : obj.amounts.balances)
{
Expand All @@ -3164,6 +3230,10 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
if (!loanToken->mintable)
return Res::Err("Loan cannot be taken on token with id (%s) as \"mintable\" is currently false",tokenId.ToString());

if (tokenDUSD && tokenId == tokenDUSD->first) {
hasDUSDLoans = true;
}

// Calculate interest
CAmount currentLoanAmount{};
bool resetInterestToHeight{};
Expand Down Expand Up @@ -3245,10 +3315,6 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
return res;
}

std::optional<std::pair<DCT_ID, std::optional<CTokensView::CTokenImpl>>> tokenDUSD;
if (static_cast<int>(height) >= consensus.FortCanningRoadHeight) {
tokenDUSD = mnview.GetToken("DUSD");
}
auto scheme = mnview.GetLoanScheme(vault->schemeId);
for (int i = 0; i < 2; i++) {
// check ratio against current and active price
Expand All @@ -3261,21 +3327,9 @@ class CCustomTxApplyVisitor : public CCustomTxVisitor
if (collateralsLoans.val->ratio() < scheme->ratio)
return Res::Err("Vault does not have enough collateralization ratio defined by loan scheme - %d < %d", collateralsLoans.val->ratio(), scheme->ratio);

uint64_t totalCollaterals = 0;

for (auto& col : collateralsLoans.val->collaterals)
if (col.nTokenId == DCT_ID{0}
|| (tokenDUSD && col.nTokenId == tokenDUSD->first))
totalCollaterals += col.nValue;

if (static_cast<int>(height) < consensus.FortCanningHillHeight) {
if (totalCollaterals < collateralsLoans.val->totalCollaterals / 2)
return Res::Err("At least 50%% of the collateral must be in DFI when taking a loan.");
} else {
if (arith_uint256(totalCollaterals) * 100 < arith_uint256(collateralsLoans.val->totalLoans) * scheme->ratio / 2)
return static_cast<int>(height) < consensus.FortCanningRoadHeight ? Res::Err("At least 50%% of the minimum required collateral must be in DFI when taking a loan.")
: Res::Err("At least 50%% of the minimum required collateral must be in DFI or DUSD when taking a loan.");
}
res = CollateralPctCheck(hasDUSDLoans, collateralsLoans, scheme->ratio);
if(!res)
return res;
}
return Res::Ok();
}
Expand Down
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