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LendingMarketController.md

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Solidity API

LendingMarketController

Implements the module to manage separated lending order-book markets per maturity.

This contract also works as a factory contract that can deploy (start) a new lending market for selected currency and maturity and has the calculation logic for the Genesis value in addition.

Deployed Lending Markets are rotated and reused as it reaches the maturity date. At the time of rotation, a new maturity date is set and the compound factor is updated.

The users mainly call this contract to create orders to lend or borrow funds.

hasLendingMarket

modifier hasLendingMarket(bytes32 _ccy)

Modifier to check if the currency has a lending market.

Name Type Description
_ccy bytes32 Currency name in bytes32

ifValidMaturity

modifier ifValidMaturity(bytes32 _ccy, uint256 _maturity)

Modifier to check if there is a market in the maturity.

Name Type Description
_ccy bytes32 Currency name in bytes32
_maturity uint256 The maturity of the market

initialize

function initialize(address _owner, address _resolver, uint256 _marketBasePeriod, uint256 _observationPeriod) public

Initializes the contract.

Function is invoked by the proxy contract when the contract is added to the ProxyController.

Name Type Description
_owner address The address of the contract owner
_resolver address The address of the Address Resolver contract
_marketBasePeriod uint256 The base period for market maturity
_observationPeriod uint256 The observation period to calculate the volume-weighted average price of transactions

requiredContracts

function requiredContracts() public pure returns (bytes32[] contracts)

Returns the contract names used in this contract.

The contract name list is in ./libraries/Contracts.sol.

acceptedContracts

function acceptedContracts() public pure returns (bytes32[] contracts)

Returns contract names that can call this contract.

The contact name listed in this method is also needed to be listed requiredContracts method.

isLiquidator

function isLiquidator(address _user) external view returns (bool)

Gets if the user is registered as a liquidator.

Name Type Description
[0] bool The boolean if the user is registered as a liquidator or not

getGenesisDate

function getGenesisDate(bytes32 _ccy) external view returns (uint256)

Gets the genesis date when the first market opens for the selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] uint256 The genesis date

getLendingMarkets

function getLendingMarkets(bytes32 _ccy) external view returns (address[])

Gets the lending market contract addresses for the selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] address[] Array with the lending market address

getLendingMarket

function getLendingMarket(bytes32 _ccy, uint256 _maturity) external view returns (address)

Gets the lending market contract address for the selected currency and maturity.

Name Type Description
_ccy bytes32 Currency name in bytes32
_maturity uint256 The maturity of the market
Name Type Description
[0] address The lending market address

getFutureValueVault

function getFutureValueVault(bytes32 _ccy, uint256 _maturity) public view returns (address)

Gets the feture value contract address for the selected currency and maturity.

Name Type Description
_ccy bytes32 Currency name in bytes32
_maturity uint256 The maturity of the market
Name Type Description
[0] address The lending market address

getBorrowUnitPrices

function getBorrowUnitPrices(bytes32 _ccy) external view returns (uint256[])

Gets borrow prices per future value for the selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] uint256[] Array with the borrowing prices per future value of the lending market

getLendUnitPrices

function getLendUnitPrices(bytes32 _ccy) external view returns (uint256[])

Gets lend prices per future value for the selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] uint256[] Array with the lending prices per future value of the lending market

getMidUnitPrices

function getMidUnitPrices(bytes32 _ccy) external view returns (uint256[])

Gets mid prices per future value for the selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] uint256[] Array with the mid prices per future value of the lending market

getBorrowOrderBook

function getBorrowOrderBook(bytes32 _ccy, uint256 _maturity, uint256 _limit) external view returns (uint256[] unitPrices, uint256[] amounts, uint256[] quantities)

Gets the order book of borrow.

Name Type Description
_ccy bytes32 Currency name in bytes32
_maturity uint256 The maturity of the market
_limit uint256 The limit number to get
Name Type Description
unitPrices uint256[] The array of borrow unit prices
amounts uint256[] The array of borrow order amounts
quantities uint256[] The array of borrow order quantities

getLendOrderBook

function getLendOrderBook(bytes32 _ccy, uint256 _maturity, uint256 _limit) external view returns (uint256[] unitPrices, uint256[] amounts, uint256[] quantities)

Gets the order book of lend.

Name Type Description
_ccy bytes32 Currency name in bytes32
_maturity uint256 The maturity of the market
_limit uint256 The limit number to get
Name Type Description
unitPrices uint256[] The array of borrow unit prices
amounts uint256[] The array of lend order amounts
quantities uint256[] The array of lend order quantities

getMaturities

function getMaturities(bytes32 _ccy) public view returns (uint256[])

Gets maturities for the selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] uint256[] Array with the lending market maturity

getUsedCurrencies

function getUsedCurrencies(address _user) external view returns (bytes32[])

Get all the currencies in which the user has lending positions or orders.

Name Type Description
_user address User's address
Name Type Description
[0] bytes32[] The array of the currency

getFutureValue

function getFutureValue(bytes32 _ccy, uint256 _maturity, address _user) external view returns (int256 futureValue)

Gets the future value of the account for selected currency and maturity.

Name Type Description
_ccy bytes32 Currency name in bytes32 for Lending Market
_maturity uint256 The maturity of the market
_user address User's address
Name Type Description
futureValue int256 The future value

getPresentValue

function getPresentValue(bytes32 _ccy, uint256 _maturity, address _user) external view returns (int256 presentValue)

Gets the present value of the account for selected currency and maturity.

Name Type Description
_ccy bytes32 Currency name in bytes32 for Lending Market
_maturity uint256 The maturity of the market
_user address User's address
Name Type Description
presentValue int256 The present value

getTotalPresentValue

function getTotalPresentValue(bytes32 _ccy, address _user) external view returns (int256 totalPresentValue)

Gets the total present value of the account for selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32 for Lending Market
_user address User's address
Name Type Description
totalPresentValue int256 The total present value

getTotalPresentValueInETH

function getTotalPresentValueInETH(address _user) external view returns (int256 totalPresentValue)

Gets the total present value of the account converted to ETH.

Name Type Description
_user address User's address
Name Type Description
totalPresentValue int256 The total present value in ETH

getGenesisValue

function getGenesisValue(bytes32 _ccy, address _user) external view returns (int256 genesisValue)

calculateFunds

function calculateFunds(bytes32 _ccy, address _user) external view returns (uint256 workingLendOrdersAmount, uint256 claimableAmount, uint256 collateralAmount, uint256 lentAmount, uint256 workingBorrowOrdersAmount, uint256 debtAmount, uint256 borrowedAmount)

Gets the funds that are calculated from the user's lending and borrowing order list for the selected currency.

Name Type Description
_ccy bytes32 Currency name in bytes32
_user address User's address
Name Type Description
workingLendOrdersAmount uint256 The working orders amount on the lend order book
claimableAmount uint256 The claimable amount due to the lending orders being filled on the order book
collateralAmount uint256 The actual collateral amount that is calculated by netting using the haircut.
lentAmount uint256 The lent amount due to the lend orders being filled on the order book
workingBorrowOrdersAmount uint256 The working orders amount on the borrow order book
debtAmount uint256 The debt amount due to the borrow orders being filled on the order book
borrowedAmount uint256 The borrowed amount due to the borrow orders being filled on the order book

calculateTotalFundsInETH

function calculateTotalFundsInETH(address _user, bytes32 _depositCcy, uint256 _depositAmount) external view returns (uint256 totalWorkingLendOrdersAmount, uint256 totalClaimableAmount, uint256 totalCollateralAmount, uint256 totalLentAmount, uint256 totalWorkingBorrowOrdersAmount, uint256 totalDebtAmount, uint256 totalBorrowedAmount, bool isEnoughDeposit)

Gets the funds that are calculated from the user's lending and borrowing order list for all currencies in ETH.

Name Type Description
_user address User's address
_depositCcy bytes32
_depositAmount uint256

isInitializedLendingMarket

function isInitializedLendingMarket(bytes32 _ccy) public view returns (bool)

Gets if the lending market is initialized.

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] bool The boolean if the lending market is initialized or not

initializeLendingMarket

function initializeLendingMarket(bytes32 _ccy, uint256 _genesisDate, uint256 _compoundFactor, uint256 _orderFeeRate, uint256 _autoRollFeeRate) external

Initialize the lending market to set a genesis date and compound factor

Name Type Description
_ccy bytes32 Currency name in bytes32
_genesisDate uint256 The genesis date when the initial market is opened
_compoundFactor uint256 The initial compound factor when the initial market is opened
_orderFeeRate uint256 The order fee rate received by protocol
_autoRollFeeRate uint256 The auto roll fee rate received by protocol

createLendingMarket

function createLendingMarket(bytes32 _ccy, uint256 _openingDate) external

Deploys new Lending Market and save address at lendingMarkets mapping. Reverts on deployment market with existing currency and term

Name Type Description
_ccy bytes32 Main currency for new lending market
_openingDate uint256 Timestamp when the lending market opens

createOrder

function createOrder(bytes32 _ccy, uint256 _maturity, enum ProtocolTypes.Side _side, uint256 _amount, uint256 _unitPrice) external returns (bool)

Creates an order. Takes orders if the orders are matched, and places new order if not match it.

In addition, converts the future value to the genesis value if there is future value in past maturity before the execution of order creation.

Name Type Description
_ccy bytes32 Currency name in bytes32 of the selected market
_maturity uint256 The maturity of the selected market
_side enum ProtocolTypes.Side Order position type, Borrow or Lend
_amount uint256 Amount of funds the maker wants to borrow/lend
_unitPrice uint256 Amount of unit price taker wish to borrow/lend
Name Type Description
[0] bool True if the execution of the operation succeeds

depositAndCreateOrder

function depositAndCreateOrder(bytes32 _ccy, uint256 _maturity, enum ProtocolTypes.Side _side, uint256 _amount, uint256 _unitPrice) external payable returns (bool)

Deposits funds and creates an order at the same time.

Name Type Description
_ccy bytes32 Currency name in bytes32 of the selected market
_maturity uint256 The maturity of the selected market
_side enum ProtocolTypes.Side Order position type, Borrow or Lend
_amount uint256 Amount of funds the maker wants to borrow/lend
_unitPrice uint256 Amount of unit price taker wish to borrow/lend
Name Type Description
[0] bool True if the execution of the operation succeeds

createPreOrder

function createPreOrder(bytes32 _ccy, uint256 _maturity, enum ProtocolTypes.Side _side, uint256 _amount, uint256 _unitPrice) public returns (bool)

Creates a pre-order. A pre-order will only be accepted from 48 hours to 1 hour before the market opens (Pre-order period). At the end of this period, Itayose will be executed.

Name Type Description
_ccy bytes32 Currency name in bytes32 of the selected market
_maturity uint256 The maturity of the selected market
_side enum ProtocolTypes.Side Order position type, Borrow or Lend
_amount uint256 Amount of funds the maker wants to borrow/lend
_unitPrice uint256 Amount of unit price taker wish to borrow/lend
Name Type Description
[0] bool True if the execution of the operation succeeds

depositAndCreatePreOrder

function depositAndCreatePreOrder(bytes32 _ccy, uint256 _maturity, enum ProtocolTypes.Side _side, uint256 _amount, uint256 _unitPrice) external payable returns (bool)

Deposits funds and creates a pre-order at the same time.

Name Type Description
_ccy bytes32 Currency name in bytes32 of the selected market
_maturity uint256 The maturity of the selected market
_side enum ProtocolTypes.Side Order position type, Borrow or Lend
_amount uint256 Amount of funds the maker wants to borrow/lend
_unitPrice uint256 Amount of unit price taker wish to borrow/lend
Name Type Description
[0] bool True if the execution of the operation succeeds

unwindOrder

function unwindOrder(bytes32 _ccy, uint256 _maturity) external returns (bool)

Unwind all orders by creating an opposite position order.

Name Type Description
_ccy bytes32 Currency name in bytes32 of the selected market
_maturity uint256 The maturity of the selected market

executeItayoseCalls

function executeItayoseCalls(bytes32[] _currencies, uint256 _maturity) external returns (bool)

cancelOrder

function cancelOrder(bytes32 _ccy, uint256 _maturity, uint48 _orderId) external returns (bool)

Cancels the own order.

Name Type Description
_ccy bytes32 Currency name in bytes32 of the selected market
_maturity uint256 The maturity of the selected market
_orderId uint48 Market order id

executeLiquidationCall

function executeLiquidationCall(bytes32 _collateralCcy, bytes32 _debtCcy, uint256 _debtMaturity, address _user, uint24 _poolFee) external returns (bool)

Liquidates a lending position if the user's coverage is less than 1.

A liquidation amount is calculated from the selected debt, but its maximum amount is the same as a collateral amount. That amount needs to be set at liquidationAmountMax otherwise currency swapping using Uniswap will fail if the collateral is insufficient.

Name Type Description
_collateralCcy bytes32 Currency name to be used as collateral
_debtCcy bytes32 Currency name to be used as debt
_debtMaturity uint256 The market maturity of the debt
_user address User's address
_poolFee uint24 Uniswap pool fee
Name Type Description
[0] bool True if the execution of the operation succeeds

registerLiquidator

function registerLiquidator(bool _isLiquidator) external

Registers a user as a liquidator.

Name Type Description
_isLiquidator bool The boolean if the user is a liquidator or not

rotateLendingMarkets

function rotateLendingMarkets(bytes32 _ccy) external

Rotates the lending markets. In this rotation, the following actions are happened.

  • Updates the maturity at the beginning of the market array.
  • Moves the beginning of the market array to the end of it (Market rotation).
  • Update the compound factor in this contract using the next market unit price. (Auto-rolls)
  • Convert the future value held by reserve funds into the genesis value
Name Type Description
_ccy bytes32 Currency name in bytes32 of the selected market

pauseLendingMarkets

function pauseLendingMarkets(bytes32 _ccy) external returns (bool)

Pauses previously deployed lending market by currency

Name Type Description
_ccy bytes32 Currency for pausing all lending markets
Name Type Description
[0] bool True if the execution of the operation succeeds

unpauseLendingMarkets

function unpauseLendingMarkets(bytes32 _ccy) external returns (bool)

Unpauses previously deployed lending market by currency

Name Type Description
_ccy bytes32 Currency name in bytes32
Name Type Description
[0] bool True if the execution of the operation succeeds

cleanUpAllFunds

function cleanUpAllFunds(address _user) external

Clean up all funds of the user

Name Type Description
_user address User's address

cleanUpFunds

function cleanUpFunds(bytes32 _ccy, address _user) external returns (uint256 totalActiveOrderCount)

Clean up user funds used for lazy evaluation by the following actions:

  • Removes order IDs that is already filled on the order book.
  • Convert Future values that have already been auto-rolled to Genesis values.
Name Type Description
_ccy bytes32 Currency name in bytes32
_user address User's address

_createOrder

function _createOrder(bytes32 _ccy, uint256 _maturity, address _user, enum ProtocolTypes.Side _side, uint256 _amount, uint256 _unitPrice, bool _isForced) private returns (uint256 filledAmount)