One-Click LP: Rebalance #599

daryakaviani · 2022-07-13T06:36:46Z

Task: One-Click LP Rebalance

Description

Rebalance an LP position via the ControllerHelper's rebalanceLpInVault function. Liquidate current position, calculate new LP amounts based on new ticks, swap oSQTH and ETH to meet necessary amounts, and mint the new LP position.

Learn more about the One-Click LP API here.

vercel · 2022-07-13T06:36:49Z

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deepthinker250 · 2022-07-13T20:57:20Z

packages/frontend/src/state/lp/hooks.ts

+    async (vaultId: number, lowerTickInput: number, upperTickInput: number, onTxConfirmed?: () => void) => {
+      const vaultBefore = await getVault(vaultId)
+      const uniTokenId = vaultBefore?.NFTCollateralId 
+      const position = await getPosition(uniTokenId)


Suggested change

const position = await getPosition(uniTokenId)

const position = uniTokenId ? await getPosition(uniTokenId) : null

alpinechicken · 2022-07-20T20:29:37Z

packages/frontend/src/state/lp/hooks.ts

+      if (!controllerContract || !controllerHelperContract || !address || !position || !vaultBefore || !squeethPoolContract) return
+      const shortAmount = fromTokenAmount(vaultBefore.shortAmount, OSQUEETH_DECIMALS)
+      const debtInEth = await getDebtAmount(shortAmount)
+      const collateralToFlashloan = debtInEth.multipliedBy(COLLAT_RATIO)


This will be more than we need for the flashloan because we also have vaultBefore.collateralAmount in eth, but I guess it doesn't hurt!

is there a disadvantage to having more than we need for the flashloan?

only if we take more than euler has

alpinechicken · 2022-07-20T20:35:16Z

packages/frontend/src/state/lp/hooks.ts

+      const upperTick = nearestUsableTick(upperTickInput, TICK_SPACE)
+
+      // Get current LP positions
+      const { amount0, amount1 } = await getDecreaseLiquidity(uniTokenId, position.liquidity, 0, 0, Math.floor(Date.now() / 1000 + 86400))


we can also calculate these directly like dis:
if p < pa:
amount0, amount1 = L*(1/np.sqrt(pa)- 1/np.sqrt(pb)), 0
elif p < pb:
amount0, amount1 = L*(1/np.sqrt(p)- 1/np.sqrt(pb)), L*(np.sqrt(p)- np.sqrt(pa))
else:
amount0, amount1 = 0, L*(np.sqrt(pb)- np.sqrt(pa))

alpinechicken · 2022-08-04T17:36:14Z

packages/frontend/src/state/lp/hooks.ts

+
+      const amount0Min = new BigNumber(0)
+      const amount1Min = new BigNumber(0)
+


We might want to change these to something close to expected values to avoid getting sammiched. Probably should have done this in tests.

Yep, planning to use:

amount0Min = amount0 * (1 - slippage)
amount1Min = amount1 * (1 - slippage)

Does that sound good?

sounds excellent - slippage as input param?

alpinechicken · 2022-08-04T20:18:31Z

packages/frontend/src/state/lp/hooks.ts

+      const squeethPrice = sqrtSqueethPrice.pow(2)
+
+      // Get previous liquidity amount in ETH
+      const wPowerPerpAmountInLPBeforeInEth = await getQuote(new BigNumber(wPowerPerpAmountInLPBefore), true)


it might be better to just use to spot price: wPowerPerpAmountInLPBeforeInEth = wethAmountInLPBefore * squeethPrice since we don't need to consider uniswap price impact here

Do you mean:
wPowerPerpAmountInLPBeforeInEth = wPowerPerpAmountInLPBefore * squeethPrice

alpinechicken · 2022-08-04T20:47:54Z

packages/frontend/src/state/lp/hooks.ts

+      const sqrtUpperPrice = new BigNumber(TickMath.getSqrtRatioAtTick(upperTick).toString()).div(x96)
+      const { sqrtPriceX96 } = await getPoolState(squeethPoolContract)
+      const sqrtSqueethPrice = new BigNumber(sqrtPriceX96.toString()).div(x96)
+      const squeethPrice = sqrtSqueethPrice.pow(2)


Need to switch prices if weth is token0 to get all these prices in eth per oSQTH. Will work on ropsten but not on mainnet where weth is token0.

Fixed in 521

alpinechicken · 2022-08-04T22:58:59Z

packages/frontend/src/state/lp/hooks.ts

+        // x = L(sqrt(upperPrice) - sqrt(squeethPrice))) / sqrt(squeethPrice) * sqrt(upperPrice)
+        // y = L(sqrt(squeethPrice) - sqrt(lowerPrice))
+        newAmount0 = liquidity.times(sqrtUpperPrice.minus(sqrtSqueethPrice)).div((sqrtSqueethPrice.times(sqrtUpperPrice)))
+        newAmount1 = liquidity.times(sqrtSqueethPrice.minus(sqrtLowerPrice))


If we use the convention the squeeth price is eth per 1 oSQTH then newAmount0 is in oSQTH and newAmount1 is in weth so we don't need to switch on isWethToken0

alpinechicken · 2022-08-04T23:08:11Z

packages/frontend/src/state/lp/hooks.ts

+        wPowerPerpAmountInLPAfter = (liquidity.div(sqrtLowerPrice).minus(liquidity.div(sqrtUpperPrice)))
+        amountIn = wethAmountInLPBefore
+        tokenIn = weth
+        tokenOut = oSqueeth


looks like you have the amountIn/tokenIn/tokenOut logic after this

alpinechicken · 2022-08-04T23:43:07Z

packages/frontend/src/state/lp/hooks.ts

+            uniTokenId,
+            position.liquidity,
+            fromTokenAmount(1, 18).toFixed(0),
+            0,


add in amount0Min, amount1Min

alpinechicken · 2022-08-04T23:43:26Z

packages/frontend/src/state/lp/hooks.ts

+        // GeneralSwap: [tokenIn, tokenOut, amountIn, limitPrice]
+        data: abiCoder.encode(
+          ['address', 'address', 'uint256', 'uint256', 'uint24'],
+          [tokenIn, tokenOut, amountIn, 0, POOL_FEE],


add in limit price

alpinechicken

lgtm

aleone

I think this one needs a decent amount of work. Happy to sync on it.

aleone · 2022-11-17T05:24:06Z

packages/frontend/src/state/lp/hooks.ts

+      if (!controllerContract || !controllerHelperContract || !address || !position || !vaultBefore || !squeethPoolContract) return
+      const shortAmount = fromTokenAmount(vaultBefore.shortAmount, OSQUEETH_DECIMALS)
+      const debtInEth = await getDebtAmount(shortAmount)
+      const collateralToFlashloan = debtInEth.multipliedBy(COLLAT_RATIO_FLASHLOAN)


this will work, but its often going to be too much collateral - we do a more accurate calc in the closeLP calc taking into account the eth in the vault

aleone · 2022-11-17T05:46:04Z

packages/frontend/src/state/lp/hooks.ts

+      const positionEthValue = new BigNumber(wethAmountInLPBefore).plus(wPowerPerpAmountInLPBeforeInEth)       
+
+      let amountIn, wethAmountInLPAfter, wPowerPerpAmountInLPAfter, tokenIn, tokenOut
+      if (sqrtUpperPrice.lt(sqrtSqueethPrice)) {


this might not work (and may not work for testing on goerli), because all weth pool vs all oSQTH LP depends on if weth is token1 or token0. I thought we dealt with these comments already, but I can't find it implemented correctly anywhere.

bascially the calc is the opposite if weth is token 0 vs token 1 for all of these if else statements.

it all comes down to is the price ETH per oSQTH or oSQTH per ETH

Example lets say ticks are 0.05 and 0.1 ETH/oSQTH. The alternative tick is 10 and 20 oSQTH per ETH (where 20 = 0.05 and 10 = 0.1). If current spot price is 0.025 ETH per oSQTH or 40 oSQTH per ETH (same price), that means that in one situation it is above the high tick and in one case its below the lower tick. This position would be 100% oSQTH, but to calc that we need to know what token is token0 vs token1.

The other alternative to doing different logic is to switch our ticks around at the end and make the f/e only provide ticks in 1 unit (ie ETH per oSQTH) vs the way the pool is set up

I think it might work if we convert all the prices like

if (isWethToken0) {
const squeethPrice = new BigNumber(1).div(new BigNumber(TickMath.getSqrtRatioAtTick(Number(tick)).toString()).div(x96).pow(2))
const sqrtLowerPrice = new BigNumber(1).div(new BigNumber(TickMath.getSqrtRatioAtTick(Number(lowerTick)).toString()).div(x96).pow(2))
const sqrtUpperPrice = new BigNumber(1).div(new BigNumber(TickMath.getSqrtRatioAtTick(Number(upperTick)).toString()).div(x96).pow(2))
} else {
const squeethPrice = new BigNumber(TickMath.getSqrtRatioAtTick(Number(tick)).toString()).div(x96).pow(2)
const sqrtLowerPrice = new BigNumber(TickMath.getSqrtRatioAtTick(Number(lowerTick)).toString()).div(x96).pow(2)
const sqrtUpperPrice = new BigNumber(TickMath.getSqrtRatioAtTick(Number(upperTick)).toString()).div(x96).pow(2)
}

aleone · 2022-11-17T06:03:37Z

packages/frontend/src/state/lp/hooks.ts

+      // Get amount mins
+      const amount0New = isWethToken0 ? wethAmountInLPAfter : wPowerPerpAmountInLPAfter
+      const amount1New = isWethToken0 ? wPowerPerpAmountInLPAfter : wethAmountInLPAfter
+      const amount0MinNew = amount0New.times(new BigNumber(1).minus(slippage)).toFixed(0)


should have its own slippage param for LPing

aleone · 2022-11-17T06:11:22Z

packages/frontend/src/state/lp/hooks.ts

+      const amount1MinNew = amount1New.times(new BigNumber(1).minus(slippage)).toFixed(0)
+
+      // Get limit price
+      const amountOut = await getExactIn(new BigNumber(amountIn), tokenIn == oSqueeth)


this isn't right. when we have too much oSQTH, we are doing exact in of oSQTH, when we have too much weth, we are doing an exact in of weth.

aleone · 2022-11-17T06:20:24Z

packages/frontend/src/state/lp/hooks.ts

+        // GeneralSwap: [tokenIn, tokenOut, amountIn, limitPrice]
+        data: abiCoder.encode(
+          ['address', 'address', 'uint256', 'uint256', 'uint24'],
+          [tokenIn, tokenOut, amountIn, fromTokenAmount(limitPrice, 18).toFixed(0), POOL_FEE],


pool fee right now can only be 0.3% based on how we use the quoter to figure out expected amts of swap

vercel bot deployed to Preview July 13, 2022 06:38 View deployment

deepthinker250 changed the base branch from main to one-click-lp-fees July 13, 2022 17:52

deepthinker250 reviewed Jul 13, 2022

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deepthinker250 approved these changes Jul 14, 2022

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vercel bot deployed to Preview July 16, 2022 01:17 View deployment

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alpinechicken reviewed Jul 20, 2022

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alpinechicken reviewed Aug 4, 2022

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daryakaviani force-pushed the one-click-lp-fees branch from d73e710 to b9e7ad0 Compare August 9, 2022 07:05

Darya Kaviani added 5 commits August 9, 2022 00:14

add controllerhelper address

60fa38e

rebalance hook

5196877

update rebalance to math way

ba1c8f8

position null case

d5f31f8

review changes

ad0a32f

daryakaviani force-pushed the one-click-lp-rebalance branch from c968f14 to ad0a32f Compare August 9, 2022 07:26

daryakaviani requested a review from alpinechicken August 9, 2022 07:33

vercel bot deployed to Preview August 9, 2022 07:35 View deployment

alpinechicken approved these changes Nov 17, 2022

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aleone requested changes Nov 17, 2022

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One-Click LP: Rebalance #599

One-Click LP: Rebalance #599

daryakaviani commented Jul 13, 2022

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	const position = await getPosition(uniTokenId)
	const position = uniTokenId ? await getPosition(uniTokenId) : null


		const amount0Min = new BigNumber(0)
		const amount1Min = new BigNumber(0)

One-Click LP: Rebalance #599

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daryakaviani commented Jul 13, 2022

Task: One-Click LP Rebalance

Description

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