use std::{
convert::{TryFrom, TryInto},
u64,
};
use crate::error::LendingError;
use arrayref::{array_mut_ref, array_ref, array_refs, mut_array_refs};
use solana_maths::{Decimal, Rate, TryAdd, TryDiv, TryMul, TrySub};
use solana_program::program_option::COption;
use solana_program::{
clock::Slot,
entrypoint::ProgramResult,
msg,
program_error::ProgramError,
program_pack::{IsInitialized, Pack, Sealed},
pubkey::{Pubkey, PUBKEY_BYTES},
};
use super::*;
pub const LIQUIDATION_CLOSE_FACTOR: u8 = 50;
pub const LIQUIDATION_CLOSE_AMOUNT: u64 = 2;
#[derive(Clone, Debug, Default, PartialEq)]
pub struct Reserve {
pub version: u8,
pub last_update: LastUpdate,
pub lending_market: Pubkey,
pub liquidity: ReserveLiquidity,
pub collateral: ReserveCollateral,
pub config: ReserveConfig,
}
impl Reserve {
pub fn current_borrow_rate(&self) -> Result<Rate, ProgramError> {
let utilization_rate = self.liquidity.utilization_rate()?;
let optimal_utilization_rate = Rate::from_percent(self.config.optimal_utilization_rate);
let low_utilization = utilization_rate < optimal_utilization_rate;
if low_utilization || self.config.optimal_utilization_rate == 100 {
let normalized_rate = utilization_rate.try_div(optimal_utilization_rate)?;
let min_rate = Rate::from_percent(self.config.min_borrow_rate);
let rate_range = Rate::from_percent(
self.config
.optimal_borrow_rate
.checked_sub(self.config.min_borrow_rate)
.ok_or(LendingError::MathOverflow)?,
);
Ok(normalized_rate.try_mul(rate_range)?.try_add(min_rate)?)
} else {
let normalized_rate = utilization_rate
.try_sub(optimal_utilization_rate)?
.try_div(Rate::from_percent(
100u8
.checked_sub(self.config.optimal_utilization_rate)
.ok_or(LendingError::MathOverflow)?,
))?;
let min_rate = Rate::from_percent(self.config.optimal_borrow_rate);
let rate_range = Rate::from_percent(
self.config
.max_borrow_rate
.checked_sub(self.config.optimal_borrow_rate)
.ok_or(LendingError::MathOverflow)?,
);
Ok(normalized_rate.try_mul(rate_range)?.try_add(min_rate)?)
}
}
pub fn collateral_exchange_rate(&self) -> Result<CollateralExchangeRate, ProgramError> {
let total_liquidity = self.liquidity.total_supply()?;
self.collateral.exchange_rate(total_liquidity)
}
pub fn accrue_interest(&mut self, current_slot: Slot) -> ProgramResult {
let slots_elapsed = self.last_update.slots_elapsed(current_slot)?;
if slots_elapsed > 0 {
let current_borrow_rate = self.current_borrow_rate()?;
self.liquidity
.compound_interest(current_borrow_rate, slots_elapsed)?;
}
Ok(())
}
}
pub struct InitReserveParams {
pub current_slot: Slot,
pub lending_market: Pubkey,
pub liquidity: ReserveLiquidity,
pub collateral: ReserveCollateral,
pub config: ReserveConfig,
}
#[derive(Debug)]
pub struct CalculateBorrowResult {
pub borrow_amount: Decimal,
pub receive_amount: u64,
pub borrow_fee: u64,
pub host_fee: u64,
}
#[derive(Debug)]
pub struct CalculateRepayResult {
pub settle_amount: Decimal,
pub repay_amount: u64,
}
#[derive(Debug)]
pub struct CalculateLiquidationResult {
pub settle_amount: Decimal,
pub repay_amount: u64,
pub withdraw_amount: u64,
}
#[derive(Clone, Debug, Default, PartialEq)]
pub struct ReserveLiquidity {
pub mint_pubkey: Pubkey,
pub mint_decimals: u8,
pub supply_pubkey: Pubkey,
pub fee_receiver: Pubkey,
pub oracle_pubkey: COption<Pubkey>,
pub available_amount: u64,
pub borrowed_amount_wads: Decimal,
pub cumulative_borrow_rate_wads: Decimal,
pub market_price: Decimal,
}
impl ReserveLiquidity {
pub fn total_supply(&self) -> Result<Decimal, ProgramError> {
Decimal::from(self.available_amount).try_add(self.borrowed_amount_wads)
}
pub fn utilization_rate(&self) -> Result<Rate, ProgramError> {
let total_supply = self.total_supply()?;
if total_supply == Decimal::zero() {
return Ok(Rate::zero());
}
self.borrowed_amount_wads.try_div(total_supply)?.try_into()
}
pub fn compound_interest(
&mut self,
current_borrow_rate: Rate,
slots_elapsed: u64,
) -> ProgramResult {
let slot_interest_rate = current_borrow_rate.try_div(SLOTS_PER_YEAR)?;
let compounded_interest_rate = Rate::one()
.try_add(slot_interest_rate)?
.try_pow(slots_elapsed)?;
self.cumulative_borrow_rate_wads = self
.cumulative_borrow_rate_wads
.try_mul(compounded_interest_rate)?;
self.borrowed_amount_wads = self
.borrowed_amount_wads
.try_mul(compounded_interest_rate)?;
Ok(())
}
}
pub struct NewReserveLiquidityParams {
pub mint_pubkey: Pubkey,
pub mint_decimals: u8,
pub supply_pubkey: Pubkey,
pub fee_receiver: Pubkey,
pub oracle_pubkey: COption<Pubkey>,
pub market_price: Decimal,
}
#[derive(Clone, Debug, Default, PartialEq)]
pub struct ReserveCollateral {
pub mint_pubkey: Pubkey,
pub mint_total_supply: u64,
pub supply_pubkey: Pubkey,
}
impl ReserveCollateral {
pub fn exchange_rate(
&self,
total_liquidity: Decimal,
) -> Result<CollateralExchangeRate, ProgramError> {
let rate = if self.mint_total_supply == 0 || total_liquidity == Decimal::zero() {
Rate::from_scaled_val(INITIAL_COLLATERAL_RATE)
} else {
let mint_total_supply = Decimal::from(self.mint_total_supply);
Rate::try_from(mint_total_supply.try_div(total_liquidity)?)?
};
Ok(CollateralExchangeRate(rate))
}
}
pub struct NewReserveCollateralParams {
pub mint_pubkey: Pubkey,
pub supply_pubkey: Pubkey,
}
#[derive(Clone, Copy, Debug)]
pub struct CollateralExchangeRate(pub Rate);
impl CollateralExchangeRate {
pub fn collateral_to_liquidity(&self, collateral_amount: u64) -> Result<u64, ProgramError> {
self.decimal_collateral_to_liquidity(collateral_amount.into())?
.try_floor_u64()
}
pub fn decimal_collateral_to_liquidity(
&self,
collateral_amount: Decimal,
) -> Result<Decimal, ProgramError> {
collateral_amount.try_div(self.0)
}
pub fn liquidity_to_collateral(&self, liquidity_amount: u64) -> Result<u64, ProgramError> {
self.decimal_liquidity_to_collateral(liquidity_amount.into())?
.try_floor_u64()
}
pub fn decimal_liquidity_to_collateral(
&self,
liquidity_amount: Decimal,
) -> Result<Decimal, ProgramError> {
liquidity_amount.try_mul(self.0)
}
}
impl From<CollateralExchangeRate> for Rate {
fn from(exchange_rate: CollateralExchangeRate) -> Self {
exchange_rate.0
}
}
#[derive(Clone, Copy, Debug, Default, PartialEq)]
pub struct ReserveConfig {
pub optimal_utilization_rate: u8,
pub loan_to_value_ratio: u8,
pub liquidation_bonus: u8,
pub liquidation_threshold: u8,
pub min_borrow_rate: u8,
pub optimal_borrow_rate: u8,
pub max_borrow_rate: u8,
pub fees: ReserveFees,
pub deposit_staking_pool: COption<Pubkey>,
}
#[derive(Clone, Copy, Debug, Default, PartialEq)]
pub struct ReserveFees {
pub borrow_fee_wad: u64,
pub flash_loan_fee_wad: u64,
pub host_fee_percentage: u8,
}
impl ReserveFees {
pub fn calculate_borrow_fees(
&self,
borrow_amount: Decimal,
fee_calculation: FeeCalculation,
) -> Result<(u64, u64), ProgramError> {
self.calculate_fees(borrow_amount, self.borrow_fee_wad, fee_calculation)
}
pub fn calculate_flash_loan_fees(
&self,
flash_loan_amount: Decimal,
) -> Result<(u64, u64), ProgramError> {
self.calculate_fees(
flash_loan_amount,
self.flash_loan_fee_wad,
FeeCalculation::Exclusive,
)
}
fn calculate_fees(
&self,
amount: Decimal,
fee_wad: u64,
fee_calculation: FeeCalculation,
) -> Result<(u64, u64), ProgramError> {
let borrow_fee_rate = Rate::from_scaled_val(fee_wad);
let host_fee_rate = Rate::from_percent(self.host_fee_percentage);
if borrow_fee_rate > Rate::zero() && amount > Decimal::zero() {
let need_to_assess_host_fee = host_fee_rate > Rate::zero();
let minimum_fee = if need_to_assess_host_fee {
2u64 } else {
1u64 };
let borrow_fee_amount = match fee_calculation {
FeeCalculation::Exclusive => amount.try_mul(borrow_fee_rate)?,
FeeCalculation::Inclusive => {
let borrow_fee_rate =
borrow_fee_rate.try_div(borrow_fee_rate.try_add(Rate::one())?)?;
amount.try_mul(borrow_fee_rate)?
}
};
let borrow_fee_decimal = borrow_fee_amount.max(minimum_fee.into());
if borrow_fee_decimal >= amount {
msg!("Borrow amount is too small to receive liquidity after fees");
return Err(LendingError::BorrowTooSmall.into());
}
let borrow_fee = borrow_fee_decimal.try_round_u64()?;
let host_fee = if need_to_assess_host_fee {
borrow_fee_decimal
.try_mul(host_fee_rate)?
.try_round_u64()?
.max(1u64)
} else {
0
};
Ok((borrow_fee, host_fee))
} else {
Ok((0, 0))
}
}
}
pub enum FeeCalculation {
Exclusive,
Inclusive,
}
impl Sealed for Reserve {}
impl IsInitialized for Reserve {
fn is_initialized(&self) -> bool {
self.version != UNINITIALIZED_VERSION
}
}
const RESERVE_LEN: usize = 575; impl Pack for Reserve {
const LEN: usize = RESERVE_LEN;
fn pack_into_slice(&self, output: &mut [u8]) {
let output = array_mut_ref![output, 0, RESERVE_LEN];
#[allow(clippy::ptr_offset_with_cast)]
let (
version,
last_update_slot,
last_update_stale,
lending_market,
liquidity_mint_pubkey,
liquidity_mint_decimals,
liquidity_supply_pubkey,
liquidity_fee_receiver,
liquidity_oracle_pubkey,
liquidity_available_amount,
liquidity_borrowed_amount_wads,
liquidity_cumulative_borrow_rate_wads,
liquidity_market_price,
collateral_mint_pubkey,
collateral_mint_total_supply,
collateral_supply_pubkey,
config_optimal_utilization_rate,
config_loan_to_value_ratio,
config_liquidation_bonus,
config_liquidation_threshold,
config_min_borrow_rate,
config_optimal_borrow_rate,
config_max_borrow_rate,
config_fees_borrow_fee_wad,
config_fees_flash_loan_fee_wad,
config_fees_host_fee_percentage,
config_deposit_staking_pool,
_padding,
) = mut_array_refs![
output,
1,
8,
1,
PUBKEY_BYTES,
PUBKEY_BYTES,
1,
PUBKEY_BYTES,
PUBKEY_BYTES,
4 + PUBKEY_BYTES,
8,
16,
16,
16,
PUBKEY_BYTES,
8,
PUBKEY_BYTES,
1,
1,
1,
1,
1,
1,
1,
8,
8,
1,
33,
215
];
*version = self.version.to_le_bytes();
*last_update_slot = self.last_update.slot.to_le_bytes();
pack_bool(self.last_update.stale, last_update_stale);
lending_market.copy_from_slice(self.lending_market.as_ref());
liquidity_mint_pubkey.copy_from_slice(self.liquidity.mint_pubkey.as_ref());
*liquidity_mint_decimals = self.liquidity.mint_decimals.to_le_bytes();
liquidity_supply_pubkey.copy_from_slice(self.liquidity.supply_pubkey.as_ref());
liquidity_fee_receiver.copy_from_slice(self.liquidity.fee_receiver.as_ref());
pack_coption_key(&self.liquidity.oracle_pubkey, liquidity_oracle_pubkey);
*liquidity_available_amount = self.liquidity.available_amount.to_le_bytes();
pack_decimal(
self.liquidity.borrowed_amount_wads,
liquidity_borrowed_amount_wads,
);
pack_decimal(
self.liquidity.cumulative_borrow_rate_wads,
liquidity_cumulative_borrow_rate_wads,
);
pack_decimal(self.liquidity.market_price, liquidity_market_price);
collateral_mint_pubkey.copy_from_slice(self.collateral.mint_pubkey.as_ref());
*collateral_mint_total_supply = self.collateral.mint_total_supply.to_le_bytes();
collateral_supply_pubkey.copy_from_slice(self.collateral.supply_pubkey.as_ref());
*config_optimal_utilization_rate = self.config.optimal_utilization_rate.to_le_bytes();
*config_loan_to_value_ratio = self.config.loan_to_value_ratio.to_le_bytes();
*config_liquidation_bonus = self.config.liquidation_bonus.to_le_bytes();
*config_liquidation_threshold = self.config.liquidation_threshold.to_le_bytes();
*config_min_borrow_rate = self.config.min_borrow_rate.to_le_bytes();
*config_optimal_borrow_rate = self.config.optimal_borrow_rate.to_le_bytes();
*config_max_borrow_rate = self.config.max_borrow_rate.to_le_bytes();
*config_fees_borrow_fee_wad = self.config.fees.borrow_fee_wad.to_le_bytes();
*config_fees_flash_loan_fee_wad = self.config.fees.flash_loan_fee_wad.to_le_bytes();
*config_fees_host_fee_percentage = self.config.fees.host_fee_percentage.to_le_bytes();
pack_coption_key_compact(
&self.config.deposit_staking_pool,
config_deposit_staking_pool,
);
}
fn unpack_from_slice(input: &[u8]) -> Result<Self, ProgramError> {
let input = array_ref![input, 0, RESERVE_LEN];
#[allow(clippy::ptr_offset_with_cast)]
let (
version,
last_update_slot,
last_update_stale,
lending_market,
liquidity_mint_pubkey,
liquidity_mint_decimals,
liquidity_supply_pubkey,
liquidity_fee_receiver,
liquidity_oracle_pubkey,
liquidity_available_amount,
liquidity_borrowed_amount_wads,
liquidity_cumulative_borrow_rate_wads,
liquidity_market_price,
collateral_mint_pubkey,
collateral_mint_total_supply,
collateral_supply_pubkey,
config_optimal_utilization_rate,
config_loan_to_value_ratio,
config_liquidation_bonus,
config_liquidation_threshold,
config_min_borrow_rate,
config_optimal_borrow_rate,
config_max_borrow_rate,
config_fees_borrow_fee_wad,
config_fees_flash_loan_fee_wad,
config_fees_host_fee_percentage,
config_deposit_staking_pool,
_padding,
) = array_refs![
input,
1,
8,
1,
PUBKEY_BYTES,
PUBKEY_BYTES,
1,
PUBKEY_BYTES,
PUBKEY_BYTES,
4 + PUBKEY_BYTES,
8,
16,
16,
16,
PUBKEY_BYTES,
8,
PUBKEY_BYTES,
1,
1,
1,
1,
1,
1,
1,
8,
8,
1,
33,
215
];
let version = u8::from_le_bytes(*version);
if version > PROGRAM_VERSION {
msg!("Reserve version does not match lending program version");
return Err(ProgramError::InvalidAccountData);
}
Ok(Self {
version,
last_update: LastUpdate {
slot: u64::from_le_bytes(*last_update_slot),
stale: unpack_bool(last_update_stale)?,
},
lending_market: Pubkey::new_from_array(*lending_market),
liquidity: ReserveLiquidity {
mint_pubkey: Pubkey::new_from_array(*liquidity_mint_pubkey),
mint_decimals: u8::from_le_bytes(*liquidity_mint_decimals),
supply_pubkey: Pubkey::new_from_array(*liquidity_supply_pubkey),
fee_receiver: Pubkey::new_from_array(*liquidity_fee_receiver),
oracle_pubkey: unpack_coption_key(liquidity_oracle_pubkey)?,
available_amount: u64::from_le_bytes(*liquidity_available_amount),
borrowed_amount_wads: unpack_decimal(liquidity_borrowed_amount_wads),
cumulative_borrow_rate_wads: unpack_decimal(liquidity_cumulative_borrow_rate_wads),
market_price: unpack_decimal(liquidity_market_price),
},
collateral: ReserveCollateral {
mint_pubkey: Pubkey::new_from_array(*collateral_mint_pubkey),
mint_total_supply: u64::from_le_bytes(*collateral_mint_total_supply),
supply_pubkey: Pubkey::new_from_array(*collateral_supply_pubkey),
},
config: ReserveConfig {
optimal_utilization_rate: u8::from_le_bytes(*config_optimal_utilization_rate),
loan_to_value_ratio: u8::from_le_bytes(*config_loan_to_value_ratio),
liquidation_bonus: u8::from_le_bytes(*config_liquidation_bonus),
liquidation_threshold: u8::from_le_bytes(*config_liquidation_threshold),
min_borrow_rate: u8::from_le_bytes(*config_min_borrow_rate),
optimal_borrow_rate: u8::from_le_bytes(*config_optimal_borrow_rate),
max_borrow_rate: u8::from_le_bytes(*config_max_borrow_rate),
fees: ReserveFees {
borrow_fee_wad: u64::from_le_bytes(*config_fees_borrow_fee_wad),
flash_loan_fee_wad: u64::from_le_bytes(*config_fees_flash_loan_fee_wad),
host_fee_percentage: u8::from_le_bytes(*config_fees_host_fee_percentage),
},
deposit_staking_pool: unpack_coption_key_compact(config_deposit_staking_pool)?,
},
})
}
}