Merge pull request #1900 from RickGriff/liquity_v2_yield_adaptor

Liquity v2 yield adaptor

Author: 0xngmi

src/adaptors/liquity-v2/index.js

@@ -0,0 +1,324 @@
+const sdk = require('@defillama/sdk');
+const superagent = require('superagent');
+
+const BOLD_TOKEN = '0x6440f144b7e50d6a8439336510312d2f54beb01d';
+
+const WETH_BRANCH = {
+ activePool: '0xeb5a8c825582965f1d84606e078620a84ab16afe',
+ defaultPool:  '0xd4558240d50c2e219a21c9d25afd513bb6e5b1a0',
+ stabilityPool: '0x5721cbbd64fc7ae3ef44a0a3f9a790a9264cf9bf',
+ borrowerOperations: '0x0b995602b5a797823f92027e8b40c0f2d97aff1c',
+ collToken: '0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2'.toLowerCase(),
+ symbol: 'ETH'
+}
+
+const WSTETH_BRANCH = {
+  activePool: '0x531a8f99c70d6a56a7cee02d6b4281650d7919a0',
+  defaultPool:  '0xd796e1648526400386cc4d12fa05e5f11e6a22a1',
+  stabilityPool: '0x9502b7c397e9aa22fe9db7ef7daf21cd2aebe56b',
+  borrowerOperations: '0x94c1610a7373919bd9cfb09ded19894601f4a1be',
+  collToken: '0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0'.toLowerCase(),
+  symbol: 'WSTETH'
+}
+
+const RETH_BRANCH = {
+  activePool: '0x9074d72cc82dad1e13e454755aa8f144c479532f',
+  defaultPool:  '0x5cc5cefd034fdc4728d487a72ca58a410cddcd6b',
+  stabilityPool: '0xd442e41019b7f5c4dd78f50dc03726c446148695',
+  borrowerOperations: '0xa351d5b9cda9eb518727c3ceff02208915fda60d',
+  collToken: '0xae78736cd615f374d3085123a210448e74fc6393'.toLowerCase(),
+  symbol: 'RETH'
+}
+
+const branches = [WETH_BRANCH, WSTETH_BRANCH, RETH_BRANCH];
+
+const SP_YIELD_SPLIT = 0.75; 
+
+const ABIS = {
+    getTotalBoldDeposits: {
+      inputs: [],
+      name: 'getTotalBoldDeposits',
+      outputs: [
+        {
+          internalType: 'uint256',
+          name: 'totalBoldDeposits',
+          type: 'uint256',
+        },
+      ],
+      stateMutability: 'view',
+      type: 'function',
+    },
+    getCollBalance: {
+      inputs: [],
+      name: 'getCollBalance',
+      outputs: [
+        {
+          internalType: 'uint256',
+          name: 'collBalance',
+          type: 'uint256',
+        },
+      ],
+      stateMutability: 'view',
+      type: 'function',
+    },
+    getBoldDebt: {
+      inputs: [],
+      name: 'getBoldDebt',
+      outputs: [
+        {
+          internalType: 'uint256',
+          name: 'boldDebt',
+          type: 'uint256',
+        },
+      ],
+      stateMutability: 'view',
+      type: 'function',
+    },
+    getMCR: {
+      inputs: [],
+      name: 'MCR',
+      outputs: [{ internalType: 'uint256', name: '', type: 'uint256' }],
+      stateMutability: 'view',
+      type: 'function',
+    },
+    getNewApproxAvgInterestRateFromTroveChange: {
+      inputs: [
+        {
+          components: [
+            {
+              internalType: 'uint256',
+              name: 'appliedRedistBoldDebtGain',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'appliedRedistCollGain',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'collIncrease',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'collDecrease',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'debtIncrease',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'debtDecrease',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'newWeightedRecordedDebt',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'oldWeightedRecordedDebt',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'upfrontFee',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'batchAccruedManagementFee',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'newWeightedRecordedBatchManagementFee',
+              type: 'uint256',
+            },
+            {
+              internalType: 'uint256',
+              name: 'oldWeightedRecordedBatchManagementFee',
+              type: 'uint256',
+            },
+          ],
+          internalType: 'struct TroveChange',
+          name: '_troveChange',
+          type: 'tuple',
+        },
+      ],
+      name: 'getNewApproxAvgInterestRateFromTroveChange',
+      outputs: [
+        {
+          internalType: 'uint256',
+          name: '',
+          type: 'uint256',
+        },
+      ],
+      stateMutability: 'view',
+      type: 'function',
+    }
+  };
+
+  const getSPSupplyAndApy = async (spAddr, avgBranchInterestRate, branchBoldSupply) => {
+      const spSupply = (await sdk.api.abi.call({
+        target: spAddr,
+        abi: ABIS.getTotalBoldDeposits,
+        chain: 'ethereum',
+      })).output / 1e18;
+ 
+    // Yield is the branch interest rate amplifyed by ratio of branch supply to the BOLD in the SP
+    const spApy = avgBranchInterestRate * SP_YIELD_SPLIT * branchBoldSupply / spSupply;
+
+    return [spSupply, spApy];
+  }
+
+  const getPrices = async (addresses) => {
+    const req = addresses.map((address) => `ethereum:${address}`).join(',').toLowerCase();
+    const prices = (await superagent.get(`https://coins.llama.fi/prices/current/${req}`)).body.coins;
+
+    const pricesObj = Object.fromEntries(
+      Object.entries(prices).map(([address, priceData]) => [address.split(':')[1].toLowerCase(), priceData.price])
+    );
+
+    return pricesObj;
+  }
+
+  const getBranchColl = async (collPools) => {
+    const results = await sdk.api.abi.multiCall({
+      calls: collPools.map((poolAddr) => ({
+        target: poolAddr, 
+        params: [],
+      })),
+      abi: ABIS.getCollBalance,
+      chain: 'ethereum',
+    });
+    
+    const totalColl = results.output.map(x => Number(x.output)).reduce((a, b) => a + b);
+    return totalColl / 1e18;
+  }
+
+  const getBranchDebt = async (debtPools) => {
+    const results = await sdk.api.abi.multiCall({
+      calls: debtPools.map((poolAddr) => ({
+        target: poolAddr, 
+        params: [],
+      })),
+      abi: ABIS.getBoldDebt,
+      chain: 'ethereum',
+    });
+  
+    const totalDebt = results.output.map(x => Number(x.output)).reduce((a, b) => a + b);
+    return totalDebt / 1e18;
+  }
+
+  const getLTV = async (borrowerOpsAddr) =>{
+    const res = (await sdk.api.abi.call({
+        target: borrowerOpsAddr,
+        abi: ABIS.getMCR,
+        chain: 'ethereum',
+      })
+    );
+
+    return 1 / (res.output / 1e18);
+  }
+  
+  const getNewApproxAvgInterestRateFromTroveChange = async(activePoolAddr) => {
+    const res = await sdk.api.abi.call({
+        target: activePoolAddr,
+        abi: ABIS.getNewApproxAvgInterestRateFromTroveChange,
+        params: [
+        [0, // appliedRedistBoldDebtGain
+          0, // appliedRedistCollGain  
+          0, // collIncrease
+          0, // collDecrease
+          0, // debtIncrease
+          0, // debtDecrease
+          0, // newWeightedRecordedDebt
+          0, // oldWeightedRecordedDebt
+          0, // upfrontFee
+          0, // batchAccruedManagementFee
+          0, // newWeightedRecordedBatchManagementFee
+          0] // oldWeightedRecordedBatchManagementFee
+      ],
+        chain: 'ethereum',
+      });
+     
+      // convert from 18 decimals and make percentage
+      return res.output / 1e16;
+  }
+
+  const main = async () => {
+    const prices = await getPrices(
+      [WETH_BRANCH.collToken, 
+        WSTETH_BRANCH.collToken, 
+        RETH_BRANCH.collToken, 
+        BOLD_TOKEN
+      ]
+    );
+
+    WETH_BRANCH.price = prices[WETH_BRANCH.collToken];
+    WSTETH_BRANCH.price = prices[WSTETH_BRANCH.collToken];
+    RETH_BRANCH.price = prices[RETH_BRANCH.collToken];
+    
+    const pools = [];
+
+    for (const branch of branches) {
+      const collPools = [branch.activePool, branch.defaultPool];
+
+      const totalColl = await getBranchColl(collPools);
+      const totalCollUsd = totalColl * branch.price
+
+      const ltv = await getLTV(branch.borrowerOperations);
+      const borrowApy = await getNewApproxAvgInterestRateFromTroveChange(branch.activePool);
+      
+      const totalDebt = await getBranchDebt(collPools);
+      const totalDebtUsd = totalDebt * prices[BOLD_TOKEN];
+
+      const [spSupply, spApy] = await getSPSupplyAndApy(branch.stabilityPool, borrowApy, totalDebt);
+      const spSupplyUsd = spSupply * prices[BOLD_TOKEN];
+
+      const spPool = 
+        {
+          pool: branch.stabilityPool,
+          project: 'liquity-v2',
+          symbol: 'BOLD',
+          chain: 'ethereum',
+          apy: spApy,
+          tvlUsd: spSupplyUsd,
+          underlyingTokens: [BOLD_TOKEN],
+          rewardTokens: [BOLD_TOKEN, branch.collToken],
+          poolMeta: `BOLD deposited in the ${branch.symbol} Stability Pool earns continuous BOLD yield and periodic ${branch.symbol} rewards from Trove liquidations`
+        }
+
+      const borrowPool = 
+        {
+          pool: branch.activePool,
+          project: 'liquity-v2',
+          symbol: branch.symbol,
+          chain: 'ethereum',
+          apy: 0,
+          tvlUsd: totalCollUsd,
+          apyBaseBorrow: borrowApy,
+          totalSupplyUsd: totalCollUsd,
+          totalBorrowUsd: totalDebtUsd,
+          ltv: ltv,
+          mintedCoin: 'BOLD',
+          underlyingTokens: [branch.collToken], 
+        }
+
+      pools.push(spPool, borrowPool);
+    };
+
+    return pools;
+  }
+
+module.exports = {
+  timetravel: false,
+  apy: main,
+  url: 'https://www.liquity.org/',
+};