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Merge pull request #4 from term-finance/fix-edit-auction-offer
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Fix edit offer
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@0xddong
0xddong authored Jul 19, 2024
2 parents 77eec73 + 0070809 commit bb351bf
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Showing 7 changed files with 419 additions and 137 deletions.
81 changes: 31 additions & 50 deletions src/RepoTokenList.sol
View file
Original file line number Diff line number Diff line change
Expand Up @@ -27,7 +27,7 @@ library RepoTokenList {

error InvalidRepoToken(address token);

function _getRepoTokenMaturity(address repoToken) private view returns (uint256 redemptionTimestamp) {
function getRepoTokenMaturity(address repoToken) internal view returns (uint256 redemptionTimestamp) {
(redemptionTimestamp, , ,) = ITermRepoToken(repoToken).config();
}

Expand Down Expand Up @@ -61,73 +61,54 @@ library RepoTokenList {
}
}

function simulateWeightedTimeToMaturity(
RepoTokenListData storage listData,
function getRepoTokenWeightedTimeToMaturity(
address repoToken, uint256 repoTokenBalanceInBaseAssetPrecision
) internal view returns (uint256 weightedTimeToMaturity) {
uint256 currentMaturity = getRepoTokenMaturity(repoToken);

if (currentMaturity > block.timestamp) {
uint256 timeToMaturity = _getRepoTokenTimeToMaturity(currentMaturity, repoToken);
// Not matured yet
weightedTimeToMaturity = timeToMaturity * repoTokenBalanceInBaseAssetPrecision;
}
}

function getCumulativeRepoTokenData(
RepoTokenListData storage listData,
address repoToken,
uint256 repoTokenAmount,
uint256 purchaseTokenPrecision,
uint256 liquidBalance
) internal view returns (uint256) {
if (listData.head == NULL_NODE) return 0;
) internal view returns (uint256 cumulativeWeightedTimeToMaturity, uint256 cumulativeRepoTokenAmount, bool found) {
if (listData.head == NULL_NODE) return (0, 0, false);

uint256 cumulativeWeightedTimeToMaturity; // in seconds
uint256 cumulativeRepoTokenAmount; // in purchase token precision
address current = listData.head;
bool found;
while (current != NULL_NODE) {
uint256 repoTokenBalance = ITermRepoToken(current).balanceOf(address(this));

if (repoTokenBalance > 0) {
uint256 redemptionValue = ITermRepoToken(current).redemptionValue();
uint256 repoTokenPrecision = 10**ERC20(current).decimals();

if (repoToken == current) {
repoTokenBalance += repoTokenAmount;
found = true;
}

uint256 redemptionValue = ITermRepoToken(current).redemptionValue();
uint256 repoTokenPrecision = 10**ERC20(current).decimals();

uint256 repoTokenBalanceInBaseAssetPrecision =
(redemptionValue * repoTokenBalance * purchaseTokenPrecision) /
(repoTokenPrecision * RepoTokenUtils.RATE_PRECISION);

uint256 currentMaturity = _getRepoTokenMaturity(current);
uint256 weightedTimeToMaturity = getRepoTokenWeightedTimeToMaturity(
current, repoTokenBalanceInBaseAssetPrecision
);

if (currentMaturity > block.timestamp) {
uint256 timeToMaturity = _getRepoTokenTimeToMaturity(currentMaturity, current);
// Not matured yet
cumulativeWeightedTimeToMaturity +=
timeToMaturity * repoTokenBalanceInBaseAssetPrecision;
}
cumulativeWeightedTimeToMaturity += weightedTimeToMaturity;
cumulativeRepoTokenAmount += repoTokenBalanceInBaseAssetPrecision;
}

current = _getNext(listData, current);
}

/// @dev token is not found in the list (i.e. called from view function)
if (!found && repoToken != address(0)) {
uint256 repoTokenPrecision = 10**ERC20(repoToken).decimals();
uint256 redemptionValue = ITermRepoToken(repoToken).redemptionValue();
uint256 repoTokenAmountInBaseAssetPrecision =
(redemptionValue * repoTokenAmount * purchaseTokenPrecision) /
(repoTokenPrecision * RepoTokenUtils.RATE_PRECISION);

cumulativeRepoTokenAmount += repoTokenAmountInBaseAssetPrecision;
uint256 maturity = _getRepoTokenMaturity(repoToken);
if (maturity > block.timestamp) {
uint256 timeToMaturity = _getRepoTokenTimeToMaturity(maturity, repoToken);
cumulativeWeightedTimeToMaturity +=
timeToMaturity * repoTokenAmountInBaseAssetPrecision;
}
}

/// @dev avoid div by 0
if (cumulativeRepoTokenAmount == 0 && liquidBalance == 0) {
return 0;
}

// time * purchaseTokenPrecision / purchaseTokenPrecision
return cumulativeWeightedTimeToMaturity / (cumulativeRepoTokenAmount + liquidBalance);
}

function removeAndRedeemMaturedTokens(RepoTokenListData storage listData) internal {
Expand All @@ -137,7 +118,7 @@ library RepoTokenList {
address prev = current;
while (current != NULL_NODE) {
address next;
if (_getRepoTokenMaturity(current) < block.timestamp) {
if (getRepoTokenMaturity(current) < block.timestamp) {
bool removeMaturedToken;
uint256 repoTokenBalance = ITermRepoToken(current).balanceOf(address(this));

Expand Down Expand Up @@ -177,7 +158,7 @@ library RepoTokenList {
}
}

function _auctionRate(ITermController termController, ITermRepoToken repoToken) private view returns (uint256) {
function getAuctionRate(ITermController termController, ITermRepoToken repoToken) internal view returns (uint256) {
(AuctionMetadata[] memory auctionMetadata, ) = termController.getTermAuctionResults(repoToken.termRepoId());

uint256 len = auctionMetadata.length;
Expand Down Expand Up @@ -243,14 +224,14 @@ library RepoTokenList {
revert InvalidRepoToken(address(repoToken));
}

uint256 oracleRate = _auctionRate(termController, repoToken);
uint256 oracleRate = getAuctionRate(termController, repoToken);
if (oracleRate != INVALID_AUCTION_RATE) {
if (auctionRate != oracleRate) {
listData.auctionRates[address(repoToken)] = oracleRate;
}
}
} else {
auctionRate = _auctionRate(termController, repoToken);
auctionRate = getAuctionRate(termController, repoToken);

redemptionTimestamp = validateRepoToken(listData, repoToken, termController, asset);

Expand All @@ -275,8 +256,8 @@ library RepoTokenList {
break;
}

uint256 currentMaturity = _getRepoTokenMaturity(current);
uint256 maturityToInsert = _getRepoTokenMaturity(repoToken);
uint256 currentMaturity = getRepoTokenMaturity(current);
uint256 maturityToInsert = getRepoTokenMaturity(repoToken);

if (maturityToInsert <= currentMaturity) {
if (prev == NULL_NODE) {
Expand Down Expand Up @@ -308,7 +289,7 @@ library RepoTokenList {

address current = listData.head;
while (current != NULL_NODE) {
uint256 currentMaturity = _getRepoTokenMaturity(current);
uint256 currentMaturity = getRepoTokenMaturity(current);
uint256 repoTokenBalance = ITermRepoToken(current).balanceOf(address(this));
uint256 repoTokenPrecision = 10**ERC20(current).decimals();
uint256 auctionRate = listData.auctionRates[current];
Expand Down
16 changes: 16 additions & 0 deletions src/RepoTokenUtils.sol
View file
Original file line number Diff line number Diff line change
@@ -1,6 +1,9 @@
// SPDX-License-Identifier: AGPL-3.0
pragma solidity 0.8.18;

import {ERC20} from "@openzeppelin/contracts/token/ERC20/ERC20.sol";
import {ITermRepoToken} from "./interfaces/term/ITermRepoToken.sol";

library RepoTokenUtils {
uint256 public constant THREESIXTY_DAYCOUNT_SECONDS = 360 days;
uint256 public constant RATE_PRECISION = 1e18;
Expand Down Expand Up @@ -35,4 +38,17 @@ library RepoTokenUtils {
(repoTokenAmountInBaseAssetPrecision * purchaseTokenPrecision) /
(purchaseTokenPrecision + (auctionRate * timeLeftToMaturityDayFraction / RATE_PRECISION));
}

// returns repo token amount in base asset precision
function getNormalizedRepoTokenAmount(
address repoToken,
uint256 repoTokenAmount,
uint256 purchaseTokenPrecision
) internal view returns (uint256 repoTokenAmountInBaseAssetPrecision) {
uint256 repoTokenPrecision = 10**ERC20(repoToken).decimals();
uint256 redemptionValue = ITermRepoToken(repoToken).redemptionValue();
repoTokenAmountInBaseAssetPrecision =
(redemptionValue * repoTokenAmount * purchaseTokenPrecision) /
(repoTokenPrecision * RepoTokenUtils.RATE_PRECISION);
}
}
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