Merge pull request #39 from iiAku/fix/update-collateral-ratio

fix: make sure all computations are on-chain value collateral ratio b…
Hover-Labs · Oct 12, 2023 · 5d92347 · 5d92347
2 parents 07ab2b6 + 8a88b7e
commit 5d92347
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Showing 11 changed files with 82 additions and 56 deletions.
diff --git a/src/App.vue b/src/App.vue
@@ -78,6 +78,7 @@ export default {
 
       this.$store.collateralRate = minterStorage.collateralizationPercentage;
       this.$store.privateLiquidationThreshold = minterStorage.privateOwnerLiquidationThreshold || null;
+      this.$store.collateralOperand =  this.$store.collateralRate.minus(this.$store.privateLiquidationThreshold ?? 0).dividedBy(Math.pow(10, 20))
     },
     async updateAllOvenData(){
       try {

diff --git a/src/components/Oven.vue b/src/components/Oven.vue
@@ -182,16 +182,16 @@
             </p>
             <p class="heading">
               Collateral Utilization:
-              <strong v-if="collatoralizedRate(ovenData.balance) < 80"
-                >{{ collatoralizedRate(ovenData.balance) }}%</strong
+              <strong v-if="collatoralizedRate(ovenData) < 80"
+                >{{ collatoralizedRate(ovenData) }}%</strong
               >
               <strong
-                v-else-if="collatoralizedRate(ovenData.balance) < 100"
+                v-else-if="collatoralizedRate(ovenData) < 100"
                 class="has-text-warning"
-                >{{ collatoralizedRate(ovenData.balance) }}%</strong
+                >{{ collatoralizedRate(ovenData) }}%</strong
               >
               <strong v-else class="has-text-danger"
-                >{{ collatoralizedRate(ovenData.balance) }}%</strong
+                >{{ collatoralizedRate(ovenData) }}%</strong
               >
 
               <span v-if="!outstandingTokens(ovenAddress).isZero()">
@@ -211,28 +211,28 @@
 
             <div class="allocation-info is-fullwidth">
               <progress
-                v-if="collatoralizedRate(ovenData.balance) < 80"
+                v-if="collatoralizedRate(ovenData) < 80"
                 class="progress is-primary"
-                :value="collatoralizedRate(ovenData.balance)"
+                :value="collatoralizedRate(ovenData)"
                 max="100"
               >
-                {{ collatoralizedRate(ovenData.balance) }}%
+                {{ collatoralizedRate(ovenData) }}%
               </progress>
               <progress
-                v-else-if="collatoralizedRate(ovenData.balance) < 100"
+                v-else-if="collatoralizedRate(ovenData) < 100"
                 class="progress is-warning"
-                :value="collatoralizedRate(ovenData.balance)"
+                :value="collatoralizedRate(ovenData)"
                 max="100"
               >
-                {{ collatoralizedRate(ovenData.balance) }}%
+                {{ collatoralizedRate(ovenData) }}%
               </progress>
               <progress
                 v-else
                 class="progress is-danger"
-                :value="collatoralizedRate(ovenData.balance)"
+                :value="collatoralizedRate(ovenData)"
                 max="100"
               >
-                {{ collatoralizedRate(ovenData.balance) }}%
+                {{ collatoralizedRate(ovenData) }}%
               </progress>
             </div>
           </div>
@@ -402,31 +402,16 @@ export default {
         .dividedBy(Math.pow(10, 6))
         .multipliedBy(ovenBalance.dividedBy(Math.pow(10, 6)));
 
-      let valueHalf = currentValue.dividedBy(2);
+      let valueHalf = currentValue.dividedBy(this.$store.collateralOperand);
 
       let borrowedTokens = this.ovenData.outstandingTokens.dividedBy(
         Math.pow(10, 18)
       );
 
       return valueHalf.minus(borrowedTokens).decimalPlaces(18);
     },
-    collatoralizedRate(ovenBalance) {
-      if (parseInt(ovenBalance) === 0) {
-        return 0;
-      }
-
-      let currentValue = this.$store.priceData.price
-        .dividedBy(Math.pow(10, 6))
-        .multipliedBy(ovenBalance.dividedBy(Math.pow(10, 6)))
-
-      let valueHalf = currentValue.dividedBy(2);
-
-      let rate = this.ovenData.outstandingTokens
-        .dividedBy(Math.pow(10, 18))
-        .dividedBy(valueHalf)
-        .times(100);
-
-      return rate.toFixed(2);
+    collatoralizedRate(oven) {
+      return this.collatoralizedRateForOven(oven)
     },
     async updateOvenData() {
       const keys = [

diff --git a/src/components/PegVisualizer.vue b/src/components/PegVisualizer.vue
@@ -105,10 +105,10 @@ export default {
       const harbingerPrice = this.$store.priceData.price.div(tezMantissa)
 
       const percentOff = new BigNumber(1).minus(harbingerPrice.dividedBy(quipuPrice))
-      const halfPercentOff = percentOff.dividedBy(2)
+      const halfPercentOff = percentOff.dividedBy(this.$store.collateralOperand)
       const kusdToRecv = tokenPool.times(halfPercentOff)
 
-      const onePercentOff = new BigNumber("0.01").dividedBy(2)
+      const onePercentOff = new BigNumber("0.01").dividedBy(this.$store.collateralOperand)
       const pegDepth = tokenPool.times(onePercentOff)
 
       const updatedTokenPoolAmt = tokenPool.minus(kusdToRecv)

diff --git a/src/components/PublicOven.vue b/src/components/PublicOven.vue
@@ -72,7 +72,7 @@
                   !oven.isLiquidated &&
                   $store.collateralRate
                     .dividedBy(Math.pow(10, 18))
-                    .dividedBy(2)
+                    .dividedBy(this.$store.collateralOperand)
                     .isLessThan(collatoralizedRateForOven(oven))
                 "
                 class="button is-danger is-small">
@@ -305,7 +305,7 @@ export default {
       let currentValue = this.$store.priceData.price
         .multipliedBy(ovenBalance)
         .dividedBy(Math.pow(10, 10));
-      let valueHalf = currentValue.dividedBy(2);
+      let valueHalf = currentValue.dividedBy(this.$store.collateralOperand);
 
       let borrowedTokens = this.oven.outstandingTokens.dividedBy(Math.pow(10, 18));
 
@@ -319,7 +319,7 @@ export default {
       let currentValue = this.$store.priceData.price
         .multipliedBy(ovenBalance)
         .dividedBy(Math.pow(10, 10));
-      let valueHalf = currentValue.dividedBy(2);
+      let valueHalf = currentValue.dividedBy(this.$store.collateralOperand);
 
       let rate = this.oven.outstandingTokens
         .dividedBy(valueHalf)
@@ -339,12 +339,12 @@ export default {
       return this.$store.collateralRate
         .plus(this.$store.privateLiquidationThreshold)
         .dividedBy(Math.pow(10, 18))
-        .dividedBy(2)
+        .dividedBy(this.$store.collateralOperand)
     },
     lpLiquidationThreshold(){
       return this.$store.collateralRate
         .dividedBy(Math.pow(10, 18))
-        .dividedBy(2)
+        .dividedBy(this.$store.collateralOperand)
     }
   },
   components: {

diff --git a/src/components/modal-subviews/Borrow.vue b/src/components/modal-subviews/Borrow.vue
@@ -46,7 +46,7 @@
       <p class="heading">
         <a
           v-if="borrowAmtNumber.isLessThanOrEqualTo(maxSafeAmt.times(1.01))"
-          @click="borrowAmount = maxSafeAmt"
+          @click="borrowAmount = maxSafeAmt.toFixed(2)"
           class="has-text-weight-bold"
           >Max Safe (80%)</a
         >
@@ -178,10 +178,10 @@ export default {
   computed: {
     maxSafeAmt() {
       return this.ovenDollarValue(this.ovenAddress)
-        .dividedBy(2)
-        .multipliedBy(0.8)
-        .minus(this.outstandingTokensFormatted(this.ovenAddress))
-        .decimalPlaces(18);
+      .dividedBy(this.$store.collateralOperand)
+      .multipliedBy(0.8)
+      .minus(this.outstandingTokensFormatted(this.ovenAddress))
+      .decimalPlaces(18);
     },
     shouldAllowBorrow() {
       if (!this.borrowAmount || this.borrowAmount <= 0) {
@@ -203,7 +203,7 @@ export default {
         borrowAmount = 0;
       }
 
-      const maxCollateral = this.ovenDollarValue(this.ovenAddress).dividedBy(2);
+      const maxCollateral = this.ovenDollarValue(this.ovenAddress).dividedBy(this.$store.collateralOperand);
 
       const borrowedTokens = this.outstandingTokensFormatted(this.ovenAddress);
 

diff --git a/src/components/modal-subviews/Deposit.vue b/src/components/modal-subviews/Deposit.vue
@@ -159,7 +159,7 @@ export default {
         depositAmount = 0
       }
 
-      const maxCollateral = this.ovenDollarValuePlusDeposit(this.ovenAddress, depositAmount).dividedBy(2)
+      const maxCollateral = this.ovenDollarValuePlusDeposit(this.ovenAddress, depositAmount).dividedBy(this.$store.collateralOperand)
 
       const borrowedTokens = this.outstandingTokensFormatted(this.ovenAddress)
 

diff --git a/src/components/modal-subviews/Repay.vue b/src/components/modal-subviews/Repay.vue
@@ -224,7 +224,7 @@ export default {
         repayAmount = 0;
       }
 
-      const maxCollateral = this.ovenDollarValue(this.ovenAddress).dividedBy(2);
+      const maxCollateral = this.ovenDollarValue(this.ovenAddress).dividedBy(this.$store.collateralOperand);
 
       const borrowedTokens = this.outstandingTokensFormatted(this.ovenAddress);
 

diff --git a/src/components/modal-subviews/Withdraw.vue b/src/components/modal-subviews/Withdraw.vue
@@ -162,7 +162,7 @@ export default {
       const ovenValue = this.ovenDollarValue(this.ovenAddress); // USD
 
       let ovenValueFormatted = ovenValue
-        .dividedBy(2)
+        .dividedBy(this.$store.collateralOperand)
         .minus(borrowedTokens)
         .dividedBy(this.currentPriceFormatted())
         .times(2)
@@ -198,7 +198,7 @@ export default {
       const maxCollateralDollars = this.ovenDollarValueMinusWithdraw(
         this.ovenAddress,
         withdrawAmount
-      ).dividedBy(2);
+      ).dividedBy(this.$store.collateralOperand);
 
       const borrowedTokens = this.outstandingTokensFormatted(this.ovenAddress);
 

diff --git a/src/mixins.js b/src/mixins.js
@@ -1,6 +1,9 @@
 import _, { find } from 'lodash'
+
 import {ContractErrors} from '@hover-labs/kolibri-js'
+import { ConversionUtils } from "@hover-labs/kolibri-js"
 import axios from "axios";
+import {customGetCollateralUtilization} from './utils'
 import moment from "moment";
 
 const errorMap = {
@@ -142,7 +145,7 @@ export default {
         maxBorrowAmtkUSD(ovenAddress) {
             const borrowedTokens = this.outstandingTokensFormatted(ovenAddress)
             const ovenValue = this.ovenDollarValue(ovenAddress)
-            return ovenValue.dividedBy(2).minus(borrowedTokens).decimalPlaces(18)
+            return ovenValue.dividedBy(this.$store.collateralOperand).minus(borrowedTokens).decimalPlaces(18)
         },
         collatoralizationWarningClasses(rate) {
             if (rate > 100) {
@@ -154,7 +157,7 @@ export default {
             }
         },
         currentCollateralRate(ovenAddress) {
-            const maxCollateral = this.ovenDollarValue(ovenAddress).dividedBy(2)
+            const maxCollateral = this.ovenDollarValue(ovenAddress).dividedBy(this.$store.collateralOperand)
 
             const borrowedTokens = this.outstandingTokensFormatted(ovenAddress)
 
@@ -166,14 +169,19 @@ export default {
             return borrowedTokens.dividedBy(maxCollateral).times(100)
         },
         collatoralizedRateForOven(oven){
-            if (parseInt(oven.balance) === 0) { return 0 }
-
-            let currentValue = this.$store.priceData.price.multipliedBy(oven.balance).dividedBy(Math.pow(10, 10))
-            let valueHalf = currentValue.dividedBy(2)
+            const collateralUtilization = customGetCollateralUtilization(
+              this.$store.priceData.price,
+              oven.balance,
+              oven.outstandingTokens
+            )
 
-            let rate = oven.outstandingTokens.dividedBy(valueHalf).dividedBy(Math.pow(10, 14))
+            const rate = collateralUtilization.multipliedBy(
+              this.$store.collateralOperand
+            )
 
-            return rate.toFixed(2)
+            return parseFloat(
+                ConversionUtils.shardToHumanReadablePercentage(rate)
+            ).toFixed(2)
         },
         ovenBalance(ovenAddress){
             if (!this.$store.ownedOvens[ovenAddress]) { return 0 }

diff --git a/src/store.js b/src/store.js
@@ -146,6 +146,7 @@ let state = Vue.observable({
     stabilityFee: null,
     privateLiquidationThreshold: null,
     collateralRate: null,
+    collateralOperand: null,
     ownedOvens: null,
     balanceData: null,
     wallet: null,

diff --git a/src/utils.js b/src/utils.js
@@ -0,0 +1,31 @@
+import BigNumber from "bignumber.js"
+/*
+Credits goes to: https://github.com/Hover-Labs/kolibri-js/blob/master/src/oven-client.ts
+As the vast majority of helpers from here were either took, modified or inspired from kolibri-js module
+*/
+
+const MUTEZ_DIGITS = 6
+const SHARD_DIGITS = 18
+
+const MUTEZ_TO_SHARD = new BigNumber(Math.pow(10, SHARD_DIGITS - MUTEZ_DIGITS))
+
+const SHARD_PRECISION = new BigNumber(Math.pow(10, SHARD_DIGITS))
+
+export const customGetCollateralUtilization = (
+  price,
+  balance,
+  outstandingTokens
+) => {
+  const priceShard = price.multipliedBy(MUTEZ_TO_SHARD)
+  const collateralValue = balance
+    .multipliedBy(MUTEZ_TO_SHARD)
+    .multipliedBy(priceShard)
+    .dividedBy(SHARD_PRECISION)
+
+  return new BigNumber(
+    outstandingTokens
+      .times(Math.pow(10, SHARD_DIGITS))
+      .dividedBy(collateralValue)
+      .toFixed(0)
+  )
+}