Check vault collateralization

brucedonovan · Apr 20, 2022 · 1886b0d · 1886b0d
1 parent 100c507
commit 1886b0d
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Showing 25 changed files with 47,559 additions and 40,434 deletions.
diff --git a/.gitignore b/.gitignore
@@ -10,6 +10,7 @@ build/
 
 # production
 /build
+/cache
 
 # misc
 .DS_Store

diff --git a/Readme.md b/Readme.md
@@ -6,3 +6,8 @@ ganache-cli --fork https://mainnet.infura.io/v3/6f4f43507fa24302a651b52073c98d8a
 npx truffle compile
 npx truffle test .\test\TestYieldLever.sol
 ```
+
+# Forge
+```
+forge deploy
+```
diff --git a/cache/solidity-files-cache.json b/cache/solidity-files-cache.json
@@ -2,17 +2,17 @@
   "_format": "ethers-rs-sol-cache-3",
   "paths": {
     "artifacts": "out",
-    "sources": "src",
+    "sources": "contracts",
     "tests": "test",
     "libraries": [
       "lib"
     ]
   },
   "files": {
-    "F:\\Git\\yvarb\\lib\\ds-test\\src/test.sol": {
-      "lastModificationDate": 1650365129624,
-      "contentHash": "2c9806925f5d78ba4f4fb0570611cca3",
-      "sourceName": "lib\\ds-test\\src/test.sol",
+    "F:\\Git\\yvarb\\contracts\\YieldLever.sol": {
+      "lastModificationDate": 1650375593897,
+      "contentHash": "1ba0b264834e0d00ab81200be900d058",
+      "sourceName": "contracts\\YieldLever.sol",
       "solcConfig": {
         "settings": {
           "optimizer": {
@@ -39,17 +39,35 @@
         }
       },
       "imports": [],
-      "versionRequirement": ">=0.5.0",
+      "versionRequirement": "^0.8.13",
       "artifacts": {
-        "DSTest": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "test.sol\\DSTest.json"
+        "Cauldron": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\Cauldron.json"
+        },
+        "IERC20": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\IERC20.json"
+        },
+        "IFYToken": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\IFYToken.json"
+        },
+        "IToken": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\IToken.json"
+        },
+        "YieldLadle": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\YieldLadle.json"
+        },
+        "YieldLever": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\YieldLever.json"
+        },
+        "yVault": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\yVault.json"
         }
       }
     },
-    "F:\\Git\\yvarb\\src\\YieldLever.sol": {
-      "lastModificationDate": 1650373944406,
-      "contentHash": "50fa26e3effb92bcb0894fd72797e8f2",
-      "sourceName": "src\\YieldLever.sol",
+    "F:\\Git\\yvarb\\lib\\ds-test\\src/test.sol": {
+      "lastModificationDate": 1650365129624,
+      "contentHash": "2c9806925f5d78ba4f4fb0570611cca3",
+      "sourceName": "lib\\ds-test\\src/test.sol",
       "solcConfig": {
         "settings": {
           "optimizer": {
@@ -76,28 +94,10 @@
         }
       },
       "imports": [],
-      "versionRequirement": "^0.8.13",
+      "versionRequirement": ">=0.5.0",
       "artifacts": {
-        "Cauldron": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\Cauldron.json"
-        },
-        "IERC20": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\IERC20.json"
-        },
-        "IFYToken": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\IFYToken.json"
-        },
-        "IToken": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\IToken.json"
-        },
-        "YieldLadle": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\YieldLadle.json"
-        },
-        "YieldLever": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\YieldLever.json"
-        },
-        "yVault": {
-          "0.8.13+commit.abaa5c0e.Windows.msvc": "YieldLever.sol\\yVault.json"
+        "DSTest": {
+          "0.8.13+commit.abaa5c0e.Windows.msvc": "test.sol\\DSTest.json"
         }
       }
     },
@@ -139,8 +139,8 @@
       }
     },
     "F:\\Git\\yvarb\\test\\YieldLever.t.sol": {
-      "lastModificationDate": 1650374139987,
-      "contentHash": "3d1fb30be8bb8cd0cc1888e7d1b38376",
+      "lastModificationDate": 1650377922411,
+      "contentHash": "334d3f300bbcaa33b95cb6619ce8b752",
       "sourceName": "test\\YieldLever.t.sol",
       "solcConfig": {
         "settings": {
@@ -168,8 +168,8 @@
         }
       },
       "imports": [
-        "lib\\ds-test\\src/test.sol",
-        "src\\YieldLever.sol"
+        "contracts\\YieldLever.sol",
+        "lib\\ds-test\\src/test.sol"
       ],
       "versionRequirement": "^0.8.13",
       "artifacts": {

diff --git a/src/YieldLever.sol → contracts/YieldLever.sol b/src/YieldLever.sol → contracts/YieldLever.sol
@@ -36,6 +36,12 @@ struct Debt {
     uint128 sum; // Current debt for a given underlying, across all series
 }
 
+struct SpotOracle {
+    address oracle; // Address for the spot price oracle
+    uint32 ratio; // Collateralization ratio to multiply the price for
+    // bytes8 free
+}
+
 interface YieldLadle {
   function pools(bytes6 seriesId) external view returns (address);
   function build(bytes6 seriesId, bytes6 ilkId, uint8 salt)
@@ -96,6 +102,7 @@ interface Cauldron {
   function give(bytes12 vaultId, address receiver)
         external
         returns(Vault memory vault);
+  function spotOracles(bytes6 baseId, bytes6 ilkId) external view returns (SpotOracle memory);
   event VaultGiven(bytes12 indexed vaultId, address indexed receiver);
 }
 

diff --git a/foundry.toml b/foundry.toml
@@ -1,5 +1,5 @@
 [default]
-src = 'src'
+src = 'contracts'
 out = 'out'
 
 # See more config options https://github.com/gakonst/foundry/tree/master/config
diff --git a/frontend/src/abi/YieldLever.json b/frontend/src/abi/YieldLever.json
diff --git a/frontend/src/abi/YieldLever.ts b/frontend/src/abi/YieldLever.ts
@@ -4,8 +4,8 @@ import {
   BytesLike as Arrayish,
   BigNumber,
   BigNumberish,
-} from "ethers";
-import { EthersContractContextV5 } from "ethereum-abi-types-generator";
+} from 'ethers';
+import { EthersContractContextV5 } from 'ethereum-abi-types-generator';
 
 export type ContractContext = EthersContractContextV5<
   YieldLever,
@@ -57,20 +57,20 @@ export interface ContractCallOverrides {
 export type YieldLeverEvents = undefined;
 export interface YieldLeverEventsContext {}
 export type YieldLeverMethodNames =
-  | "new"
-  | "invest"
-  | "doInvest"
-  | "unwind"
-  | "doRepay"
-  | "doClose";
+  | 'new'
+  | 'invest'
+  | 'doInvest'
+  | 'unwind'
+  | 'doRepay'
+  | 'doClose';
 export interface YieldLever {
   /**
    * Payable: false
    * Constant: false
    * StateMutability: nonpayable
    * Type: constructor
    */
-  "new"(overrides?: ContractTransactionOverrides): Promise<ContractTransaction>;
+  'new'(overrides?: ContractTransactionOverrides): Promise<ContractTransaction>;
   /**
    * Payable: false
    * Constant: false

diff --git a/frontend/src/components/Invest.tsx b/frontend/src/components/Invest.tsx
@@ -26,6 +26,7 @@ enum ApprovalState {
   ApprovalRequired,
   Transactable,
   DebtTooLow,
+  Undercollateralized
 }
 
 interface State {
@@ -95,6 +96,17 @@ export default class Invest extends React.Component<Properties, State> {
           />
         );
         break;
+      case ApprovalState.Undercollateralized:
+        component = (
+          <input
+            key="undercollateralized"
+            className="button"
+            type="button"
+            value="Undercollateralized!"
+            disabled={true}
+          />
+        );
+        break;
     }
 
     return (
@@ -180,6 +192,11 @@ export default class Invest extends React.Component<Properties, State> {
   }
 
   private async checkApprovalState() {
+    // First, set to loading
+    this.setState({
+      approvalState: ApprovalState.Loading
+    });
+
     const series = await this.loadSeries();
     const allowance: BigNumber = await this.contracts.usdcContract.allowance(
       this.account,
@@ -193,7 +210,6 @@ export default class Invest extends React.Component<Properties, State> {
       BigNumber.from(10).pow(cauldronDebt.dec)
     );
 
-    console.log(cauldronDebt);
     console.log(
       "Allowance: " +
         utils.formatUnits(allowance, UNITS_USDC) +
@@ -203,25 +219,42 @@ export default class Invest extends React.Component<Properties, State> {
 
     // Compute the amount of Fytokens
     const fyTokens = await this.fyTokens();
-    this.setState({
-      fyTokens,
-    });
 
-    if (minDebt.gt(fyTokens)) {
-      this.setState({ approvalState: ApprovalState.DebtTooLow });
+    const { ratio } = await this.contracts.cauldronContract.spotOracles(series.baseId, ILK_ID);
+    const currentCollateralizationRatio = this.collateralizationRatio(fyTokens);
+
+    if (minDebt.gt(fyTokens)) { // Check whether the minimum debt is reached
+      this.setState({
+        fyTokens,
+        approvalState: ApprovalState.DebtTooLow
+      });
+    } else if (currentCollateralizationRatio.lt(ratio)) { // Check whether the vault would be collateralized
+      this.setState({
+        fyTokens,
+        approvalState: ApprovalState.Undercollateralized
+      });
     } else {
       const interest = await this.computeInterest();
       if (allowance.lt(this.state.usdcToInvest)) {
         this.setState({
+          fyTokens,
           approvalState: ApprovalState.ApprovalRequired,
           interest,
         });
       } else {
-        this.setState({ approvalState: ApprovalState.Transactable, interest });
+        this.setState({
+          fyTokens,
+          approvalState: ApprovalState.Transactable,
+          interest
+        });
       }
     }
   }
 
+  private collateralizationRatio(fyTokens: BigNumber): BigNumber {
+    return this.totalToInvest().div(fyTokens.div(1_000_000));
+  }
+
   private async cauldronDebt(
     cauldronContract: Cauldron,
     baseId: string
-Original file line number
+Diff line change
@@ Expand Up / @@ -10,6 +10,7 @@ build/ @@
     # production
     /build
+    /cache
     # misc
     .DS_Store
@@ Expand Down @@