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Merge pull request #171 from morpho-labs/feat/accrued-interests
feat(accrued-interests): add interests library
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| Original file line number | Diff line number | Diff line change |
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| @@ -0,0 +1,106 @@ | ||
| // SPDX-License-Identifier: UNLICENSED | ||
| pragma solidity ^0.8.0; | ||
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| import {Id, Market, IMorpho} from "../../interfaces/IMorpho.sol"; | ||
| import {IIrm} from "../../interfaces/IIrm.sol"; | ||
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| import {MathLib} from "../MathLib.sol"; | ||
| import {MarketLib} from "../MarketLib.sol"; | ||
| import {SharesMathLib} from "../SharesMathLib.sol"; | ||
| import {MorphoStorageLib} from "./MorphoStorageLib.sol"; | ||
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| /// @title MorphoLib | ||
| /// @author Morpho Labs | ||
| /// @custom:contact security@morpho.xyz | ||
| /// @notice Helper library exposing getters with the expected value after interest accrual. | ||
| /// @dev This library is not used in Morpho itself and is intended to be used by integrators. | ||
| /// @dev The getter to retrieve the expected total borrow shares is not exposed because interest accrual does not apply to it. | ||
| /// The value can be queried directly on Morpho using `totalBorrowShares`. | ||
| library MorphoLib { | ||
| using MathLib for uint256; | ||
| using MarketLib for Market; | ||
| using SharesMathLib for uint256; | ||
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| function expectedAccrueInterest(IMorpho morpho, Market memory market) | ||
| internal | ||
| view | ||
| returns (uint256 totalSupply, uint256 toralBorrow, uint256 totalSupplyShares) | ||
| { | ||
| Id id = market.id(); | ||
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| bytes32[] memory slots = new bytes32[](5); | ||
| slots[0] = MorphoStorageLib.totalSupplySlot(id); | ||
| slots[1] = MorphoStorageLib.totalBorrowSlot(id); | ||
| slots[2] = MorphoStorageLib.totalSupplySharesSlot(id); | ||
| slots[3] = MorphoStorageLib.feeSlot(id); | ||
| slots[4] = MorphoStorageLib.lastUpdateSlot(id); | ||
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| bytes32[] memory values = morpho.extsload(slots); | ||
| totalSupply = uint256(values[0]); | ||
| toralBorrow = uint256(values[1]); | ||
| totalSupplyShares = uint256(values[2]); | ||
| uint256 fee = uint256(values[3]); | ||
| uint256 lastUpdate = uint256(values[4]); | ||
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| uint256 elapsed = block.timestamp - lastUpdate; | ||
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| if (elapsed == 0) return (totalSupply, toralBorrow, totalSupplyShares); | ||
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| if (toralBorrow != 0) { | ||
| uint256 borrowRate = IIrm(market.irm).borrowRateView(market); | ||
| uint256 interest = toralBorrow.wMulDown(borrowRate.wTaylorCompounded(elapsed)); | ||
| toralBorrow += interest; | ||
| totalSupply += interest; | ||
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| if (fee != 0) { | ||
| uint256 feeAmount = interest.wMulDown(fee); | ||
| // The fee amount is subtracted from the total supply in this calculation to compensate for the fact that total supply is already updated. | ||
| uint256 feeShares = feeAmount.toSharesDown(totalSupply - feeAmount, totalSupplyShares); | ||
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| totalSupplyShares += feeShares; | ||
| } | ||
| } | ||
| } | ||
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| function expectedTotalSupply(IMorpho morpho, Market memory market) internal view returns (uint256 totalSupply) { | ||
| (totalSupply,,) = expectedAccrueInterest(morpho, market); | ||
| } | ||
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| function expectedTotalBorrow(IMorpho morpho, Market memory market) internal view returns (uint256 totalBorrow) { | ||
| (, totalBorrow,) = expectedAccrueInterest(morpho, market); | ||
| } | ||
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| function expectedTotalSupplyShares(IMorpho morpho, Market memory market) | ||
| internal | ||
| view | ||
| returns (uint256 totalSupplyShares) | ||
| { | ||
| (,, totalSupplyShares) = expectedAccrueInterest(morpho, market); | ||
| } | ||
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| /// @dev Warning: It does not work for `feeRecipient` because their supply shares increase is not taken into account. | ||
| function expectedSupplyBalance(IMorpho morpho, Market memory market, address user) | ||
| internal | ||
| view | ||
| returns (uint256) | ||
| { | ||
| Id id = market.id(); | ||
| uint256 supplyShares = morpho.supplyShares(id, user); | ||
| (uint256 totalSupply,, uint256 totalSupplyShares) = expectedAccrueInterest(morpho, market); | ||
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| return supplyShares.toAssetsDown(totalSupply, totalSupplyShares); | ||
| } | ||
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| function expectedBorrowBalance(IMorpho morpho, Market memory market, address user) | ||
| internal | ||
| view | ||
| returns (uint256) | ||
| { | ||
| Id id = market.id(); | ||
| uint256 borrowShares = morpho.borrowShares(id, user); | ||
| uint256 totalBorrowShares = morpho.totalBorrowShares(id); | ||
| (, uint256 totalBorrow,) = expectedAccrueInterest(morpho, market); | ||
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| return borrowShares.toAssetsUp(totalBorrow, totalBorrowShares); | ||
| } | ||
| } |
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