usdc earn program fix (#371)

* usdc earn program fix

* add todo

x/incentive/keeper/apr.go

@@ -46,33 +46,31 @@ func (k Keeper) CalculateApr(ctx sdk.Context, query *types.QueryAprRequest) (mat
 			// Calculate total Proxy TVL
 			totalProxyTVL := k.CalculateProxyTVL(ctx, baseCurrency)
 
-			// Calculate stable stake pool share.
-			poolShare := k.CalculatePoolShareForStableStakeLPs(ctx, totalProxyTVL, baseCurrency)
-
 			// Eden amount for LP in 24hrs = EpochNumBlocks is the number of block for 24 hrs
-			epochEdenAmount := lpIncentive.EdenAmountPerYear.Mul(lpIncentive.EpochNumBlocks).Quo(lpIncentive.TotalBlocksPerYear)
+			epochEdenAmount := lpIncentive.EdenAmountPerYear.
+				Mul(lpIncentive.EpochNumBlocks).
+				Quo(lpIncentive.TotalBlocksPerYear)
 
-			epochLpsMaxEdenAmount := params.MaxEdenRewardAprLps.Mul(totalProxyTVL).MulInt(lpIncentive.EpochNumBlocks).QuoInt(lpIncentive.TotalBlocksPerYear)
+			edenPriceDec := k.GetEdenPrice(ctx, baseCurrency)
+			epochLpsMaxEdenAmount := params.MaxEdenRewardAprLps.
+				Mul(totalProxyTVL).
+				MulInt(lpIncentive.EpochNumBlocks).
+				QuoInt(lpIncentive.TotalBlocksPerYear).
+				Quo(edenPriceDec)
 
 			// Use min amount (eden allocation from tokenomics and max apr based eden amount)
 			epochEdenAmount = sdk.MinInt(epochEdenAmount, epochLpsMaxEdenAmount.TruncateInt())
 
 			// Eden amount for stable stake LP in 24hrs
-			epochStableStakeEdenAmount := sdk.NewDecFromInt(epochEdenAmount).Mul(poolShare)
-
-			// Calc Eden price in usdc
-			// We put Elys as denom as Eden won't be avaialble in amm pool and has the same value as Elys
-			// TODO: replace to use spot price
-			edenPrice := k.EstimatePrice(ctx, sdk.NewCoin(ptypes.Elys, sdk.NewInt(100000)), baseCurrency)
+			stableStakePoolShare := k.CalculatePoolShareForStableStakeLPs(ctx, totalProxyTVL, baseCurrency)
+			epochStableStakeEdenAmount := sdk.NewDecFromInt(epochEdenAmount).Mul(stableStakePoolShare)
 
 			// Eden Apr for usdc earn program = {(Eden allocated for stable stake pool per day*365*price{eden/usdc}/(total usdc deposit)}*100
-			// we divide 100000 as we have use 100000elys as input in the price estimation
 			apr := epochStableStakeEdenAmount.
 				MulInt(sdk.NewInt(ptypes.DaysPerYear)).
-				MulInt(edenPrice).
+				Mul(edenPriceDec).
 				MulInt(sdk.NewInt(100)).
-				QuoInt(totalUSDCDeposit.Amount).
-				QuoInt(sdk.NewInt(100000))
+				QuoInt(totalUSDCDeposit.Amount)
 			return apr.TruncateInt(), nil
 		} else {
 			// Elys staking, Eden committed, EdenB committed.
@@ -112,7 +110,11 @@ func (k Keeper) CalculateApr(ctx sdk.Context, query *types.QueryAprRequest) (mat
 	} else if query.Denom == ptypes.BaseCurrency {
 		if query.WithdrawType == commitmenttypes.EarnType_USDC_PROGRAM {
 			params := k.stableKeeper.GetParams(ctx)
-			apr := params.InterestRate.MulInt(sdk.NewInt(100))
+			res, err := k.stableKeeper.BorrowRatio(ctx, &stabletypes.QueryBorrowRatioRequest{})
+			if err != nil {
+				return sdk.ZeroInt(), err
+			}
+			apr := params.InterestRate.Mul(res.BorrowRatio).MulInt(sdk.NewInt(100))
 			return apr.TruncateInt(), nil
 		} else {
 			// Elys staking, Eden committed, EdenB committed.

x/incentive/keeper/estimate_price.go

@@ -3,6 +3,7 @@ package keeper
 import (
 	"cosmossdk.io/math"
 	sdk "github.com/cosmos/cosmos-sdk/types"
+	ptypes "github.com/elys-network/elys/x/parameter/types"
 )
 
 // Estimate the price : eg, 1 Eden -> x usdc
@@ -26,3 +27,17 @@ func (k Keeper) EstimatePrice(ctx sdk.Context, tokenIn sdk.Coin, baseCurrency st
 	}
 	return swapResult.Amount
 }
+
+func (k Keeper) GetEdenPrice(ctx sdk.Context, baseCurrency string) math.LegacyDec {
+	// Calc Eden price in usdc
+	// We put Elys as denom as Eden won't be avaialble in amm pool and has the same value as Elys
+	// TODO: replace to use spot price
+	// TODO: Remember to use the $ value of Eden price and not eden/usdc
+	// TODO: to be updated as part of spot price calculation PR
+	edenPrice := k.EstimatePrice(ctx, sdk.NewCoin(ptypes.Elys, sdk.NewInt(100000)), baseCurrency)
+	edenPriceDec := sdk.NewDecFromInt(edenPrice).Quo(sdk.NewDec(100000))
+	if edenPriceDec.IsZero() {
+		edenPriceDec = sdk.OneDec()
+	}
+	return edenPriceDec
+}

x/incentive/keeper/keeper.go

@@ -360,14 +360,21 @@ func (k Keeper) UpdateLPRewardsUnclaimed(ctx sdk.Context, lpIncentive types.Ince
 	}
 
 	// Calculate eden amount per epoch
-	epochLpsEdenAmount := lpIncentive.EdenAmountPerYear.Mul(lpIncentive.EpochNumBlocks).Quo(lpIncentive.TotalBlocksPerYear)
+	epochLpsEdenAmount := lpIncentive.EdenAmountPerYear.
+		Mul(lpIncentive.EpochNumBlocks).
+		Quo(lpIncentive.TotalBlocksPerYear)
 
 	// Track the DEX rewards distribution for stakers
 	params := k.GetParams(ctx)
 
 	// Maximum eden based per distribution epoch on maximum APR - 30% by default
 	// Allocated for staking per day = (0.3/365)* (total weighted proxy TVL)
-	epochLpsMaxEdenAmount := params.MaxEdenRewardAprLps.Mul(totalProxyTVL).MulInt(lpIncentive.EpochNumBlocks).QuoInt(lpIncentive.TotalBlocksPerYear)
+	edenPriceDec := k.GetEdenPrice(ctx, baseCurrency)
+	epochLpsMaxEdenAmount := params.MaxEdenRewardAprLps.
+		Mul(totalProxyTVL).
+		MulInt(lpIncentive.EpochNumBlocks).
+		QuoInt(lpIncentive.TotalBlocksPerYear).
+		Quo(edenPriceDec)
 
 	// Use min amount (eden allocation from tokenomics and max apr based eden amount)
 	epochLpsEdenAmount = sdk.MinInt(epochLpsEdenAmount, epochLpsMaxEdenAmount.TruncateInt())

x/incentive/types/expected_keepers.go

@@ -1,6 +1,8 @@
 package types
 
 import (
+	context "context"
+
 	"cosmossdk.io/math"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	"github.com/cosmos/cosmos-sdk/x/auth/types"
@@ -137,6 +139,7 @@ type EpochsKeeper interface {
 // StableStakeKeeper defines the expected epochs keeper used for simulations (noalias)
 type StableStakeKeeper interface {
 	GetParams(ctx sdk.Context) (params stabletypes.Params)
+	BorrowRatio(goCtx context.Context, req *stabletypes.QueryBorrowRatioRequest) (*stabletypes.QueryBorrowRatioResponse, error)
 }
 
 // TokenomicsKeeper defines the expected tokenomics keeper used for simulations (noalias)