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Add permisionless Trove interest update func
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@RickGriff
RickGriff committed Feb 26, 2024
1 parent 6c5e816 commit b3d85a6
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Showing 7 changed files with 673 additions and 43 deletions.
118 changes: 81 additions & 37 deletions contracts/src/BorrowerOperations.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -16,7 +16,7 @@ import "forge-std/console2.sol";

contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOperations {
string constant public NAME = "BorrowerOperations";

// --- Connected contract declarations ---

ITroveManager public troveManager;
Expand Down Expand Up @@ -49,8 +49,8 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
uint newICR;
uint newTCR;
uint BoldFee;
uint newDebt;
uint newColl;
uint newEntireDebt;
uint newEntireColl;
uint stake;
}

Expand Down Expand Up @@ -166,9 +166,6 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe

vars.BoldFee;

if (!isRecoveryMode) {
// TODO: implement interest rate charges
}
_requireAtLeastMinNetDebt(_boldAmount);

// ICR is based on the composite debt, i.e. the requested Bold amount + Bold gas comp.
Expand Down Expand Up @@ -251,33 +248,16 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
// TODO: Delegation functionality

ContractsCacheTMAP memory contractsCache = ContractsCacheTMAP(troveManager, activePool);
// --- Checks ---

_requireValidAnnualInterestRate(_newAnnualInterestRate);
_requireTroveisActive(contractsCache.troveManager, msg.sender);

uint256 initialWeightedRecordedTroveDebt = contractsCache.troveManager.getTroveWeightedRecordedDebt(msg.sender);

// --- Effects ---

(, uint256 redistDebtGain) = contractsCache.troveManager.getAndApplyRedistributionGains(msg.sender);

// No debt is issued/repaid, so the net Trove debt change is purely the redistribution gain
contractsCache.activePool.mintAggInterest(redistDebtGain, 0);

uint256 accruedTroveInterest = contractsCache.troveManager.calcTroveAccruedInterest(msg.sender);
uint256 recordedTroveDebt = contractsCache.troveManager.getTroveDebt(msg.sender);
uint256 entireTroveDebt = recordedTroveDebt + accruedTroveInterest;
uint256 entireTroveDebt = _updateActivePoolTrackersNoDebtChange(contractsCache.troveManager, contractsCache.activePool, msg.sender, _newAnnualInterestRate);

sortedTroves.reInsert(msg.sender, _newAnnualInterestRate, _upperHint, _lowerHint);

// Update Trove recorded debt and interest-weighted debt sum
contractsCache.troveManager.updateTroveDebtAndInterest(msg.sender, entireTroveDebt, _newAnnualInterestRate);

// Add only the Trove's accrued interest to the recorded debt tracker since we have already applied redist. gains.
// TODO: include redist. gains here if we gas-optimize them
contractsCache.activePool.increaseRecordedDebtSum(accruedTroveInterest);
// Remove the old weighted recorded debt and and add the new one to the relevant tracker
contractsCache.activePool.changeAggWeightedDebtSum(initialWeightedRecordedTroveDebt, entireTroveDebt * _newAnnualInterestRate);
}

/*
Expand Down Expand Up @@ -351,13 +331,12 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
}

// Update the Trove's recorded debt and coll
(vars.newColl) = _updateTroveCollFromAdjustment(contractsCache.troveManager, _borrower, vars.collChange, vars.isCollIncrease);
uint256 newEntireDebt = vars.entireDebt + _boldChange;
contractsCache.troveManager.updateTroveDebt(_borrower, newEntireDebt);

vars.newEntireColl = _updateTroveCollFromAdjustment(contractsCache.troveManager, _borrower, vars.collChange, vars.isCollIncrease);
vars.newEntireDebt = _updateTroveDebtFromAdjustment(contractsCache.troveManager, _borrower, vars.entireDebt, _boldChange, _isDebtIncrease);

vars.stake = contractsCache.troveManager.updateStakeAndTotalStakes(_borrower);

emit TroveUpdated(_borrower, vars.newDebt, vars.newColl, vars.stake, BorrowerOperation.adjustTrove);
emit TroveUpdated(_borrower, vars.newEntireDebt, vars.newEntireColl, vars.stake, BorrowerOperation.adjustTrove);
emit BoldBorrowingFeePaid(msg.sender, vars.BoldFee);

_moveTokensAndETHfromAdjustment(
Expand All @@ -371,7 +350,7 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
vars.accruedTroveInterest
);

contractsCache.activePool.changeAggWeightedDebtSum(initialWeightedRecordedTroveDebt, newEntireDebt * annualInterestRate);
contractsCache.activePool.changeAggWeightedDebtSum(initialWeightedRecordedTroveDebt, vars.newEntireDebt * annualInterestRate);
}

function closeTrove() external override {
Expand Down Expand Up @@ -427,6 +406,20 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
contractsCache.activePool.sendETH(msg.sender, entireTroveColl);
}

function applyTroveInterestPermissionless(address _borrower) external {
ContractsCacheTMAP memory contractsCache = ContractsCacheTMAP(troveManager, activePool);

_requireTroveIsStale(contractsCache.troveManager, _borrower);
_requireTroveisActive(contractsCache.troveManager, _borrower);

uint256 annualInterestRate = contractsCache.troveManager.getTroveAnnualInterestRate(_borrower);

uint256 entireTroveDebt = _updateActivePoolTrackersNoDebtChange(contractsCache.troveManager, contractsCache.activePool, _borrower, annualInterestRate);

// Update Trove recorded debt and interest-weighted debt sum
contractsCache.troveManager.updateTroveDebt(_borrower, entireTroveDebt);
}

/**
* Claim remaining collateral from a redemption or from a liquidation with ICR > MCR in Recovery Mode
*/
Expand Down Expand Up @@ -459,7 +452,8 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
}
}

// Update trove's coll whether they added or removed collateral
// Update Trove's coll whether they added or removed collateral. Assumes any ETH redistribution gain was already applied
// to the Trove's coll.
function _updateTroveCollFromAdjustment
(
ITroveManager _troveManager,
Expand All @@ -470,10 +464,28 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
internal
returns (uint256)
{
uint newColl = (_isCollIncrease) ? _troveManager.increaseTroveColl(_borrower, _collChange)
uint newEntireColl = _isCollIncrease ? _troveManager.increaseTroveColl(_borrower, _collChange)
: _troveManager.decreaseTroveColl(_borrower, _collChange);

return (newColl);
return newEntireColl;
}

// Update Trove's coll whether they increased or decreased debt. Assumes any debt redistribution gain was already applied
// to the Trove's debt.
function _updateTroveDebtFromAdjustment(
ITroveManager _troveManager,
address _borrower,
uint256 _oldEntireDebt,
uint256 _debtChange,
bool _isDebtIncrease
)
internal
returns (uint256)
{
uint newEntireDebt = _isDebtIncrease ? _oldEntireDebt + _debtChange : _oldEntireDebt - _debtChange;
_troveManager.updateTroveDebt(_borrower, newEntireDebt);

return newEntireDebt;
}

// This function incorporates both the Trove's net debt change (repaid/drawn) and its accrued interest.
Expand Down Expand Up @@ -516,6 +528,37 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
require(success, "BorrowerOps: Sending ETH to ActivePool failed");
}

function _updateActivePoolTrackersNoDebtChange
(
ITroveManager _troveManager,
IActivePool _activePool,
address _borrower,
uint256 _annualInterestRate
)
internal
returns (uint256)
{
uint256 initialWeightedRecordedTroveDebt = _troveManager.getTroveWeightedRecordedDebt(_borrower);
// --- Effects ---

(, uint256 redistDebtGain) = _troveManager.getAndApplyRedistributionGains(_borrower);

// No debt is issued/repaid, so the net Trove debt change is purely the redistribution gain
_activePool.mintAggInterest(redistDebtGain, 0);

uint256 accruedTroveInterest = _troveManager.calcTroveAccruedInterest(_borrower);
uint256 recordedTroveDebt = _troveManager.getTroveDebt(_borrower);
uint256 entireTroveDebt = recordedTroveDebt + accruedTroveInterest;

// Add only the Trove's accrued interest to the recorded debt tracker since we have already applied redist. gains.
// TODO: include redist. gains here if we gas-optimize them
_activePool.increaseRecordedDebtSum(accruedTroveInterest);
// Remove the old weighted recorded debt and and add the new one to the relevant tracker
_activePool.changeAggWeightedDebtSum(initialWeightedRecordedTroveDebt, entireTroveDebt * _annualInterestRate);

return entireTroveDebt;
}

// --- 'Require' wrapper functions ---

function _requireSingularCollChange(uint _collWithdrawal) internal view {
Expand Down Expand Up @@ -635,6 +678,10 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
require(_annualInterestRate <= MAX_ANNUAL_INTEREST_RATE, "Interest rate must not be greater than max");
}

function _requireTroveIsStale(ITroveManager _troveManager, address _borrower) internal view {
require(_troveManager.troveIsStale(_borrower), "BO: Trove must be stale");
}

// --- ICR and TCR getters ---

// Compute the new collateral ratio, considering the change in coll and debt. Assumes 0 pending rewards.
Expand Down Expand Up @@ -693,14 +740,11 @@ contract BorrowerOperations is LiquityBase, Ownable, CheckContract, IBorrowerOpe
{
uint totalColl = getEntireSystemColl();
uint totalDebt = getEntireSystemDebt();
console2.log(totalDebt, "BO:totalSystemDebt");
console2.log(totalColl, "BO:totalSystemColl");

totalColl = _isCollIncrease ? totalColl + _collChange : totalColl - _collChange;
totalDebt = _isDebtIncrease ? totalDebt + _debtChange : totalDebt - _debtChange;

uint newTCR = LiquityMath._computeCR(totalColl, totalDebt, _price);
console2.log(newTCR, "BO:newTCR");
return newTCR;
}

Expand Down
2 changes: 2 additions & 0 deletions contracts/src/Interfaces/IBorrowerOperations.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -45,4 +45,6 @@ interface IBorrowerOperations is ILiquityBase {
function getCompositeDebt(uint _debt) external pure returns (uint);

function adjustTroveInterestRate(uint _newAnnualInterestRate, address _upperHint, address _lowerHint) external;

function applyTroveInterestPermissionless(address _borrower) external;
}
2 changes: 2 additions & 0 deletions contracts/src/Interfaces/ITroveManager.sol
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Expand Up @@ -96,6 +96,8 @@ interface ITroveManager is ILiquityBase {

function getTroveLastDebtUpdateTime(address _borrower) external view returns (uint);

function troveIsStale(address _borrower) external view returns (bool);

function setTrovePropertiesOnOpen(address _borrower, uint256 _coll, uint256 _debt, uint256 _annualInterestRate) external returns (uint256);

function increaseTroveColl(address _borrower, uint _collIncrease) external returns (uint);
Expand Down
5 changes: 5 additions & 0 deletions contracts/src/TroveManager.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -35,6 +35,7 @@ contract TroveManager is LiquityBase, ITroveManager, Ownable, CheckContract {

uint constant public SECONDS_IN_ONE_MINUTE = 60;
uint256 constant public SECONDS_IN_ONE_YEAR = 31536000; // 60 * 60 * 24 * 365,
uint256 constant public STALE_TROVE_DURATION = 7776000; // 90 days: 60*60*24*90 = 7776000

/*
* Half-life of 12h. 12h = 720 min
Expand Down Expand Up @@ -1461,6 +1462,10 @@ contract TroveManager is LiquityBase, ITroveManager, Ownable, CheckContract {
return Troves[_borrower].lastDebtUpdateTime;
}

function troveIsStale(address _borrower) external view returns (bool) {
return block.timestamp - Troves[_borrower].lastDebtUpdateTime > STALE_TROVE_DURATION;
}

// --- Trove property setters, called by BorrowerOperations ---

function setTrovePropertiesOnOpen(address _borrower, uint256 _coll, uint256 _debt, uint256 _annualInterestRate) external returns (uint256) {
Expand Down
6 changes: 6 additions & 0 deletions contracts/src/test/TestContracts/BaseTest.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -137,6 +137,12 @@ contract BaseTest is Test {
vm.stopPrank();
}

function applyTroveInterestPermissionless(address _from, address _borrower) public {
vm.startPrank(_from);
borrowerOperations.applyTroveInterestPermissionless(_borrower);
vm.stopPrank();
}

function transferBold(address _from, address _to, uint256 _amount) public {
vm.startPrank(_from);
boldToken.transfer(_to, _amount);
Expand Down
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