Liquidation Improvements based on Health-Factor #535
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| Original file line number | Diff line number | Diff line change |
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| // SPDX-License-Identifier: BSD-3-Clause | ||
| pragma solidity ^0.8.10; | ||
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| import { VToken } from "./VToken.sol"; | ||
| import { ComptrollerStorage } from "./ComptrollerStorage.sol"; | ||
| import { ComptrollerInterface } from "./ComptrollerInterface.sol"; | ||
| import { Comptroller } from "./Comptroller.sol"; | ||
| import { ExponentialNoError } from "./ExponentialNoError.sol"; | ||
| import { ILiquidationManager } from "./LiquidationManagerInterface.sol"; | ||
| import { ResilientOracleInterface } from "@venusprotocol/oracle/contracts/interfaces/OracleInterface.sol"; | ||
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| contract LiquidationManager is ILiquidationManager, ExponentialNoError { | ||
| /** | ||
| * @notice Calculates incentive-adjusted debt | ||
| */ | ||
| function calculateIncentiveAdjustedDebt( | ||
| address borrower, | ||
| VToken[] memory markets, | ||
| ComptrollerInterface comptroller | ||
| ) external view returns (uint256 weightedBorrowSum) { | ||
| for (uint256 i; i < markets.length; ++i) { | ||
| VToken market = markets[i]; | ||
| (, , uint256 borrowBalance, ) = market.getAccountSnapshot(borrower); | ||
| if (borrowBalance == 0) continue; | ||
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| ResilientOracleInterface oracle = comptroller.getOracle(); | ||
| uint256 borrowPrice = oracle.getUnderlyingPrice(address(market)); | ||
| uint256 borrowValueUSD = mul_ScalarTruncate(Exp({ mantissa: borrowPrice }), borrowBalance); | ||
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| uint256 marketIncentive = comptroller.getDynamicLiquidationIncentive(borrower, address(market)); | ||
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| weightedBorrowSum = ExponentialNoError.add_( | ||
| weightedBorrowSum, | ||
| ExponentialNoError.mul_ScalarTruncate( | ||
| ExponentialNoError.Exp({ mantissa: marketIncentive }), | ||
| borrowValueUSD | ||
| ) | ||
| ); | ||
| } | ||
| } | ||
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| /** | ||
| * @notice Processes a single asset for a given account and updates the liquidity snapshot. | ||
| * @dev | ||
| * - Constructs AssetData for the asset and account. | ||
| * - Calculates and applies the asset's effect on the account's liquidity snapshot, including any modifications (redeem/borrow). | ||
| * @param asset The VToken asset to process. | ||
| * @param account The address of the account being evaluated. | ||
| * @param effects Parameters describing any modifications (redeem/borrow) to apply for this asset. | ||
| * @param assetWeight The risk weight of the asset. | ||
| * @param snapshot The current account liquidity snapshot to update. | ||
| * @return The updated AccountLiquiditySnapshot struct. | ||
| */ | ||
| function processAsset( | ||
| VToken asset, | ||
| address account, | ||
| EffectsParams memory effects, | ||
| uint256 assetWeight, | ||
| uint256 underlyingPrice, | ||
| ComptrollerStorage.AccountLiquiditySnapshot memory snapshot | ||
| ) external view returns (ComptrollerStorage.AccountLiquiditySnapshot memory) { | ||
| (, uint256 vTokenBalance, uint256 borrowBalance, uint256 exchangeRateMantissa) = asset.getAccountSnapshot( | ||
| account | ||
| ); | ||
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| AssetData memory assetData = AssetData({ | ||
| vTokenBalance: vTokenBalance, | ||
| borrowBalance: borrowBalance, | ||
| exchangeRateMantissa: exchangeRateMantissa, | ||
| underlyingPrice: underlyingPrice, | ||
| assetWeight: assetWeight, | ||
| vTokenAddress: address(asset) | ||
| }); | ||
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| return _calculateAssetValues(assetData, snapshot, effects); | ||
| } | ||
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| /** | ||
| * @notice Finalizes the account liquidity snapshot by calculating weighted averages, health factors, and liquidity/shortfall. | ||
| * @dev | ||
| * - Computes the average weight. | ||
| * - Calculates the sum of borrows and effects. | ||
| * - Determines the health factor as the ratio of weighted collateral to total borrow plus effects. | ||
| * - Sets the health factor threshold using the weighted average and liquidation incentive. | ||
| * - Calculates liquidity and shortfall based on the comparison of weighted collateral and borrow plus effects. | ||
| * @param snapshot The account liquidity snapshot to be finalized. | ||
| * @return The finalized account liquidity snapshot with updated fields. | ||
| */ | ||
| function finalizeSnapshot( | ||
| ComptrollerStorage.AccountLiquiditySnapshot memory snapshot | ||
| ) external pure returns (ComptrollerStorage.AccountLiquiditySnapshot memory) { | ||
| if (snapshot.totalCollateral > 0) { | ||
| snapshot.averageLT = div_(snapshot.averageLT, snapshot.totalCollateral); | ||
| } | ||
| uint256 borrowPlusEffects = snapshot.borrows + snapshot.effects; | ||
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| if (borrowPlusEffects > 0) { | ||
| snapshot.healthFactor = div_(snapshot.weightedCollateral, borrowPlusEffects); | ||
| } | ||
| snapshot.healthFactorThreshold = div_(snapshot.averageLT * (1e18 + snapshot.liquidationIncentiveAvg), 1e18); | ||
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| unchecked { | ||
| if (snapshot.weightedCollateral > borrowPlusEffects) { | ||
| snapshot.liquidity = snapshot.weightedCollateral - borrowPlusEffects; | ||
| snapshot.shortfall = 0; | ||
| } else { | ||
| snapshot.liquidity = 0; | ||
| snapshot.shortfall = borrowPlusEffects - snapshot.weightedCollateral; | ||
| } | ||
| } | ||
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| return snapshot; | ||
| } | ||
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| /** | ||
| * @notice Calculates and updates the liquidity snapshot values for a given asset. | ||
| * @dev Computes weighted collateral, total collateral, and borrow values using asset data and price information. | ||
| * If the asset is being modified (redeemed or borrowed), applies the effects to the snapshot as well. | ||
| * @param asset The asset data struct containing balances, prices, and weights. | ||
| * @param snapshot The current account liquidity snapshot to update. | ||
| * @param effectsParams Parameters describing any modifications (redeem/borrow) to apply for this asset. | ||
| * @return The updated AccountLiquiditySnapshot struct. | ||
| */ | ||
| function _calculateAssetValues( | ||
| AssetData memory asset, | ||
| ComptrollerStorage.AccountLiquiditySnapshot memory snapshot, | ||
| EffectsParams memory effectsParams | ||
| ) internal pure returns (ComptrollerStorage.AccountLiquiditySnapshot memory) { | ||
| Exp memory oraclePrice = Exp({ mantissa: asset.underlyingPrice }); | ||
| Exp memory vTokenPrice = mul_(Exp({ mantissa: asset.exchangeRateMantissa }), oraclePrice); | ||
| Exp memory weightedVTokenPrice = mul_(Exp({ mantissa: asset.assetWeight }), vTokenPrice); | ||
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| // Core calculations | ||
| snapshot.weightedCollateral = mul_ScalarTruncateAddUInt( | ||
| weightedVTokenPrice, | ||
| asset.vTokenBalance, | ||
| snapshot.weightedCollateral | ||
| ); | ||
| snapshot.totalCollateral = mul_ScalarTruncateAddUInt( | ||
| vTokenPrice, | ||
| asset.vTokenBalance, | ||
| snapshot.totalCollateral | ||
| ); | ||
| snapshot.borrows = mul_ScalarTruncateAddUInt(oraclePrice, asset.borrowBalance, snapshot.borrows); | ||
| uint256 vTokenBalanceUSD = mul_ScalarTruncate(vTokenPrice, asset.vTokenBalance); | ||
| snapshot.averageLT += mul_(asset.assetWeight, vTokenBalanceUSD); | ||
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| // Handle modified asset effects | ||
| if (address(asset.vTokenAddress) == address(effectsParams.vTokenModify)) { | ||
| snapshot.effects = mul_ScalarTruncateAddUInt( | ||
| weightedVTokenPrice, | ||
| effectsParams.redeemTokens, | ||
| snapshot.effects | ||
| ); | ||
| snapshot.effects = mul_ScalarTruncateAddUInt(oraclePrice, effectsParams.borrowAmount, snapshot.effects); | ||
| } | ||
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| return snapshot; | ||
| } | ||
| } |
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,42 @@ | ||
| // SPDX-License-Identifier: BSD-3-Clause | ||
| pragma solidity ^0.8.10; | ||
|
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| import { VToken } from "./VToken.sol"; | ||
| import { ComptrollerStorage } from "./ComptrollerStorage.sol"; | ||
| import { ComptrollerInterface } from "./ComptrollerInterface.sol"; | ||
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| interface ILiquidationManager { | ||
| struct AssetData { | ||
| uint256 vTokenBalance; | ||
| uint256 borrowBalance; | ||
| uint256 exchangeRateMantissa; | ||
| uint256 underlyingPrice; | ||
| uint256 assetWeight; | ||
| address vTokenAddress; | ||
| } | ||
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| struct EffectsParams { | ||
| VToken vTokenModify; | ||
| uint256 redeemTokens; | ||
| uint256 borrowAmount; | ||
| } | ||
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| function calculateIncentiveAdjustedDebt( | ||
| address borrower, | ||
| VToken[] memory markets, | ||
| ComptrollerInterface comptroller | ||
| ) external view returns (uint256 weightedBorrowSum); | ||
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| function processAsset( | ||
| VToken asset, | ||
| address account, | ||
| EffectsParams memory effects, | ||
| uint256 assetWeight, | ||
| uint256 underlyingPrice, | ||
| ComptrollerStorage.AccountLiquiditySnapshot memory snapshot | ||
| ) external view returns (ComptrollerStorage.AccountLiquiditySnapshot memory); | ||
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| function finalizeSnapshot( | ||
| ComptrollerStorage.AccountLiquiditySnapshot memory snapshot | ||
| ) external pure returns (ComptrollerStorage.AccountLiquiditySnapshot memory); | ||
| } |
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|
Contributor
There was a problem hiding this comment. I would avoid changes in the VToken contract, if it's doable. Because vBNB cannot be upgraded |
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Maintain the attribute, to not break the storage layout. Simply rename it to "deprecatedLiquidationIncentiveMantissa"?
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525f1cf