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Take borrow cap into account in validateBorrow and getBorrowMaxValue #5

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merged 4 commits into from
Apr 25, 2024
Merged

Take borrow cap into account in validateBorrow and getBorrowMaxValue #5

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cf9aa20
Take borrow cap into account in validateBorrow and getBorrowMaxValue
yivlad Apr 25, 2024
7d471c4
Remove unnecessary empty lines
yivlad Apr 25, 2024
ac7925b
Fix liquidity issue
yivlad Apr 25, 2024
17a8442
Remove empty line
yivlad Apr 25, 2024
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25 changes: 24 additions & 1 deletion packages/app/src/domain/action-max-value-getters/getBorrowMaxValue.test.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -8,6 +8,7 @@ describe(getBorrowMaxValue.name, () => {
getBorrowMaxValue({
asset: {
availableLiquidity: NormalizedUnitNumber(Infinity),
totalDebt: NormalizedUnitNumber(0),
},
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber(0),
Expand All @@ -21,13 +22,29 @@ describe(getBorrowMaxValue.name, () => {
getBorrowMaxValue({
asset: {
availableLiquidity: NormalizedUnitNumber(Infinity),
totalDebt: NormalizedUnitNumber(0),
},
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber(100),
},
}),
).toEqual(NormalizedUnitNumber(100))
})

it('returns borrow cap based borrow limit', () => {
expect(
getBorrowMaxValue({
asset: {
availableLiquidity: NormalizedUnitNumber(Infinity),
totalDebt: NormalizedUnitNumber(50),
borrowCap: NormalizedUnitNumber(100),
},
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber(Infinity),
},
}),
).toEqual(NormalizedUnitNumber(50))
})
})

describe('limited liquidity', () => {
Expand All @@ -36,6 +53,7 @@ describe(getBorrowMaxValue.name, () => {
getBorrowMaxValue({
asset: {
availableLiquidity: NormalizedUnitNumber(10),
totalDebt: NormalizedUnitNumber(0),
},
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber(0),
Expand All @@ -44,11 +62,12 @@ describe(getBorrowMaxValue.name, () => {
).toEqual(NormalizedUnitNumber(0))
})

it('returns available liquidity value when smaller than borrow limit', () => {
it('returns available liquidity based value when smaller than borrow limit', () => {
expect(
getBorrowMaxValue({
asset: {
availableLiquidity: NormalizedUnitNumber(10),
totalDebt: NormalizedUnitNumber(5),
},
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber(100),
Expand All @@ -70,6 +89,7 @@ describe(getBorrowMaxValue.name, () => {
},
asset: {
availableLiquidity: NormalizedUnitNumber(Infinity),
totalDebt: NormalizedUnitNumber(0),
},
}),
).toEqual(NormalizedUnitNumber(0))
Expand All @@ -86,6 +106,7 @@ describe(getBorrowMaxValue.name, () => {
},
asset: {
availableLiquidity: NormalizedUnitNumber(Infinity),
totalDebt: NormalizedUnitNumber(0),
},
}),
).toEqual(NormalizedUnitNumber(100))
Expand All @@ -103,6 +124,7 @@ describe(getBorrowMaxValue.name, () => {

asset: {
availableLiquidity: NormalizedUnitNumber(Infinity),
totalDebt: NormalizedUnitNumber(0),
},
}),
).toEqual(NormalizedUnitNumber(50))
Expand All @@ -116,6 +138,7 @@ describe(getBorrowMaxValue.name, () => {
},
asset: {
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
},
}

Expand Down
10 changes: 8 additions & 2 deletions packages/app/src/domain/action-max-value-getters/getBorrowMaxValue.ts
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Open in desktop
Original file line number Diff line number Diff line change
Expand Up @@ -5,6 +5,8 @@ import { NormalizedUnitNumber } from '../types/NumericValues'
interface GetBorrowMaxValueParams {
asset: {
availableLiquidity: NormalizedUnitNumber
totalDebt: NormalizedUnitNumber
borrowCap?: NormalizedUnitNumber
}
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber
Expand All @@ -26,13 +28,17 @@ export function getBorrowMaxValue({ asset, user, validationIssue }: GetBorrowMax
) {
return NormalizedUnitNumber(0)
}

const ceilings = [asset.availableLiquidity, user.maxBorrowBasedOnCollateral]

if (asset.borrowCap) {
ceilings.push(NormalizedUnitNumber(asset.borrowCap.minus(asset.totalDebt)))
}

const { inIsolationMode, isolationModeCollateralTotalDebt, isolationModeCollateralDebtCeiling } = user

if (inIsolationMode && isolationModeCollateralTotalDebt && isolationModeCollateralDebtCeiling) {
ceilings.push(NormalizedUnitNumber(isolationModeCollateralDebtCeiling.minus(isolationModeCollateralTotalDebt)))
}

return NormalizedUnitNumber(BigNumber.min(...ceilings))
return NormalizedUnitNumber(BigNumber.max(BigNumber.min(...ceilings), 0))
}
64 changes: 64 additions & 0 deletions packages/app/src/domain/market-validators/validateBorrow.test.ts
View file
Open in desktop
Original file line number Diff line number Diff line change
Expand Up @@ -13,6 +13,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
Expand All @@ -37,6 +38,7 @@ describe(validateBorrow.name, () => {
status: 'frozen',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
Expand All @@ -61,6 +63,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: false,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
Expand All @@ -85,6 +88,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
Expand All @@ -100,6 +104,58 @@ describe(validateBorrow.name, () => {
).toStrictEqual('exceeds-liquidity')
})

it('validates borrow cap', () => {
expect(
validateBorrow({
value: NormalizedUnitNumber(101),
asset: {
address: testAddresses.token,
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(102),
borrowCap: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
},
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber(200),
totalBorrowedUSD: NormalizedUnitNumber(0),
isInSiloMode: false,
inIsolationMode: false,
eModeCategory: 0,
},
}),
).toStrictEqual('borrow-cap-reached')
})

it('takes into account total debt when validating borrow cap', () => {
expect(
validateBorrow({
value: NormalizedUnitNumber(96),
asset: {
address: testAddresses.token,
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(102),
borrowCap: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(5),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
},
user: {
maxBorrowBasedOnCollateral: NormalizedUnitNumber(200),
totalBorrowedUSD: NormalizedUnitNumber(0),
isInSiloMode: false,
inIsolationMode: false,
eModeCategory: 0,
},
}),
).toStrictEqual('borrow-cap-reached')
})

it('validates collateralization', () => {
expect(
validateBorrow({
Expand All @@ -109,6 +165,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(101),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
Expand All @@ -133,6 +190,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: true,
borrowableInIsolation: false,
eModeCategory: 0,
Expand All @@ -157,6 +215,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: true,
borrowableInIsolation: false,
eModeCategory: 0,
Expand All @@ -183,6 +242,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: false,
eModeCategory: 0,
Expand Down Expand Up @@ -210,6 +270,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: true,
eModeCategory: 0,
Expand All @@ -236,6 +297,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: true,
eModeCategory: 0,
Expand Down Expand Up @@ -264,6 +326,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: true,
eModeCategory: 1,
Expand All @@ -290,6 +353,7 @@ describe(validateBorrow.name, () => {
status: 'active',
borrowingEnabled: true,
availableLiquidity: NormalizedUnitNumber(100),
totalDebt: NormalizedUnitNumber(0),
isSiloed: false,
borrowableInIsolation: true,
eModeCategory: 2,
Expand Down
12 changes: 12 additions & 0 deletions packages/app/src/domain/market-validators/validateBorrow.ts
View file
Open in desktop
Original file line number Diff line number Diff line change
Expand Up @@ -14,6 +14,8 @@ export interface ValidateBorrowParams {
status: ReserveStatus
borrowingEnabled: boolean
availableLiquidity: NormalizedUnitNumber
totalDebt: NormalizedUnitNumber
borrowCap?: NormalizedUnitNumber
isSiloed: boolean
borrowableInIsolation: boolean
eModeCategory: number
Expand All @@ -36,6 +38,7 @@ export type BorrowValidationIssue =
| 'reserve-not-active'
| 'reserve-borrowing-disabled'
| 'exceeds-liquidity'
| 'borrow-cap-reached'
| 'insufficient-collateral'
| 'siloed-mode-cannot-enable'
| 'siloed-mode-enabled'
Expand All @@ -50,6 +53,8 @@ export function validateBorrow({
status,
borrowingEnabled,
availableLiquidity,
totalDebt,
borrowCap,
isSiloed,
borrowableInIsolation,
eModeCategory: assetEModeCategory,
Expand Down Expand Up @@ -83,6 +88,10 @@ export function validateBorrow({
return 'exceeds-liquidity'
}

if (borrowCap?.lt(totalDebt.plus(value))) {
return 'borrow-cap-reached'
}

if (value.gt(maxBorrowBasedOnCollateral)) {
return 'insufficient-collateral'
}
Expand Down Expand Up @@ -122,6 +131,7 @@ export function validateBorrow({
export const borrowValidationIssueToMessage: Record<BorrowValidationIssue, string> = {
'value-not-positive': 'Borrow value should be positive',
'exceeds-liquidity': 'Borrow value exceeds liquidity',
'borrow-cap-reached': 'Borrow cap reached',
'insufficient-collateral': 'Not enough collateral to borrow this amount',
'siloed-mode-enabled': 'Siloed borrowing enabled. Borrowing other assets is not allowed.',
'siloed-mode-cannot-enable':
Expand All @@ -148,6 +158,8 @@ export function getValidateBorrowArgs(
status: reserve.status,
borrowingEnabled: reserve.borrowEligibilityStatus !== 'no',
availableLiquidity: reserve.availableLiquidity,
totalDebt: reserve.totalDebt,
borrowCap: reserve.borrowCap,
isSiloed: reserve.isSiloedBorrowing,
borrowableInIsolation: reserve.isBorrowableInIsolation,
eModeCategory: reserve.eModeCategory?.id ?? 0,
Expand Down
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