@agoric/inter-protocol 0.16.1-dev-69236fd.0 → 0.16.1

package/src/vaultFactory/types.js

@@ -26,7 +26,7 @@
  * @property {Ratio} liquidationMargin - margin below which collateral will be
  * liquidated to satisfy the debt.
  * @property {Ratio} liquidationPenalty - penalty charged upon liquidation as proportion of debt
- * @property {Ratio} stabilityFee - annual interest rate charged on debt positions
+ * @property {Ratio} interestRate - annual interest rate charged on debt positions
  * @property {Ratio} mintFee - The fee (in BasisPoints) charged when creating
  * or increasing a debt position.
  * @property {Amount<'nat'>} debtLimit
@@ -78,7 +78,7 @@
  * @property {() => Ratio} getLiquidationMargin
  * @property {() => Ratio} getMintFee
  * @property {() => Promise<PriceQuote>} getCollateralQuote
- * @property {() => Ratio} getStabilityFee - The annual interest rate on a debt position
+ * @property {() => Ratio} getInterestRate - The annual interest rate on a debt position
  * @property {() => RelativeTime} getChargingPeriod - The period (in seconds) at
  *   which interest is charged to the debt position.
  * @property {() => RelativeTime} getRecordingPeriod - The period (in seconds)
@@ -109,8 +109,8 @@
 
 /**
  * @typedef {object} DebtStatus
- * @property {Timestamp} latestStabilityFeeUpdate
- * @property {NatValue} interest interest accrued since latestStabilityFeeUpdate
+ * @property {Timestamp} latestInterestUpdate
+ * @property {NatValue} interest interest accrued since latestInterestUpdate
  * @property {NatValue} newDebt total including principal and interest
  */
 

package/src/vaultFactory/vault.js

@@ -72,7 +72,7 @@ const validTransitions = {
  *
  * @typedef {object} VaultNotification
  * @property {Amount<'nat'>} locked Amount of Collateral locked
- * @property {{debt: Amount<'nat'>, stabilityFee: Ratio}} debtSnapshot 'debt' at the point the compounded stabilityFee was 'stabilityFee'
+ * @property {{debt: Amount<'nat'>, interest: Ratio}} debtSnapshot 'debt' at the point the compounded interest was 'interest'
  * @property {HolderPhase} vaultState
  */
 
@@ -86,7 +86,7 @@ const validTransitions = {
  * @property {() => Brand<'nat'>} getDebtBrand
  * @property {MintAndTransfer} mintAndTransfer
  * @property {(amount: Amount, seat: ZCFSeat) => void} burn
- * @property {() => Ratio} getCompoundedStabilityFee
+ * @property {() => Ratio} getCompoundedInterest
  * @property {(oldDebt: import('./storeUtils.js').NormalizedDebt, oldCollateral: Amount<'nat'>, vaultId: VaultId, vaultPhase: VaultPhase, vault: Vault) => void} handleBalanceChange
  * @property {() => import('./vaultManager.js').GovernedParamGetters} getGovernedParams
  */
@@ -104,7 +104,7 @@ const validTransitions = {
  * Snapshot is of the debt and compounded interest when the principal was last changed.
  *
  * @typedef {{
- *   stabilityFeeSnapshot: Ratio,
+ *   interestSnapshot: Ratio,
  *   phase: VaultPhase,
  *   debtSnapshot: Amount<'nat'>,
  *   outerUpdater: import('@agoric/zoe/src/contractSupport/recorder.js').Recorder<VaultNotification> | null,
@@ -132,7 +132,7 @@ const VaultStateShape = harden({
   phase: M.any(),
   storageNode: M.any(),
   vaultSeat: M.any(),
-  stabilityFeeSnapshot: M.any(),
+  interestSnapshot: M.any(),
   debtSnapshot: M.any(),
 });
 
@@ -174,7 +174,7 @@ export const prepareVault = (baggage, makeRecorderKit, zcf) => {
         vaultSeat: zcf.makeEmptySeatKit().zcfSeat,
 
         // Two values from the same moment
-        stabilityFeeSnapshot: manager.getCompoundedStabilityFee(),
+        interestSnapshot: manager.getCompoundedInterest(),
         debtSnapshot: AmountMath.makeEmpty(manager.getDebtBrand()),
       });
     },
@@ -257,8 +257,7 @@ export const prepareVault = (baggage, makeRecorderKit, zcf) => {
 
           // update local state
           state.debtSnapshot = newDebt;
-          state.stabilityFeeSnapshot =
-            state.manager.getCompoundedStabilityFee();
+          state.interestSnapshot = state.manager.getCompoundedInterest();
         },
 
         /**
@@ -328,11 +327,10 @@ export const prepareVault = (baggage, makeRecorderKit, zcf) => {
         getStateSnapshot(newPhase) {
           const { state, facets } = this;
 
-          const { debtSnapshot: debt, stabilityFeeSnapshot: stabilityFee } =
-            state;
+          const { debtSnapshot: debt, interestSnapshot: interest } = state;
           /** @type {VaultNotification} */
           return harden({
-            debtSnapshot: { debt, stabilityFee },
+            debtSnapshot: { debt, interest },
             locked: facets.self.getCollateralAmount(),
             // newPhase param is so that makeTransferInvitation can finish without setting the vault's phase
             // TODO refactor https://github.com/Agoric/agoric-sdk/issues/4415
@@ -787,7 +785,7 @@ export const prepareVault = (baggage, makeRecorderKit, zcf) => {
           helper.updateDebtSnapshot(self.getCurrentDebt());
           const {
             debtSnapshot: debt,
-            stabilityFeeSnapshot: stabilityFee,
+            interestSnapshot: interest,
             phase,
           } = state;
           if (outerUpdater) {
@@ -797,7 +795,7 @@ export const prepareVault = (baggage, makeRecorderKit, zcf) => {
             state.outerUpdater = null;
           }
           const transferState = {
-            debtSnapshot: { debt, stabilityFee },
+            debtSnapshot: { debt, interest },
             locked: self.getCollateralAmount(),
             vaultState: phase,
           };
@@ -841,8 +839,8 @@ export const prepareVault = (baggage, makeRecorderKit, zcf) => {
           const { state } = this;
           return calculateCurrentDebt(
             state.debtSnapshot,
-            state.stabilityFeeSnapshot,
-            state.manager.getCompoundedStabilityFee(),
+            state.interestSnapshot,
+            state.manager.getCompoundedInterest(),
           );
         },
 
@@ -859,10 +857,7 @@ export const prepareVault = (baggage, makeRecorderKit, zcf) => {
         getNormalizedDebt() {
           const { state } = this;
           // @ts-expect-error cast
-          return reverseInterest(
-            state.debtSnapshot,
-            state.stabilityFeeSnapshot,
-          );
+          return reverseInterest(state.debtSnapshot, state.interestSnapshot);
         },
       },
     },

package/src/vaultFactory/vaultDirector.js

@@ -250,7 +250,6 @@ const prepareVaultDirector = (
     metrics: makeRecorderTopic('Vault Factory metrics', metricsKit),
   });
 
-  /** @param {(vm: VaultManager) => void} fn */
   const allManagersDo = fn => {
     for (const managerIndex of collateralManagers.values()) {
       const vm = vaultManagers.get(managerIndex).self;
@@ -425,7 +424,6 @@ const prepareVaultDirector = (
 
         makeLiquidationWaker() {
           return makeWaker('liquidationWaker', _timestamp => {
-            // XXX floating promise
             allManagersDo(vm => vm.liquidateVaults(auctioneer));
           });
         },

package/src/vaultFactory/vaultManager.js

@@ -95,16 +95,16 @@ const trace = makeTracer('VM');
 
 /**
  * @typedef {{
- *  compoundedStabilityFee: Ratio,
- *  stabilityFee: Ratio,
- *  latestStabilityFeeUpdate: Timestamp,
+ *  compoundedInterest: Ratio,
+ *  interestRate: Ratio,
+ *  latestInterestUpdate: Timestamp,
  * }} AssetState
  *
  * @typedef {{
  *  getChargingPeriod: () => RelativeTime,
  *  getRecordingPeriod: () => RelativeTime,
  *  getDebtLimit: () => Amount<'nat'>,
- *  getStabilityFee: () => Ratio,
+ *  getInterestRate: () => Ratio,
  *  getLiquidationPadding: () => Ratio,
  *  getLiquidationMargin: () => Ratio,
  *  getLiquidationPenalty: () => Ratio,
@@ -138,8 +138,8 @@ const trace = makeTracer('VM');
 
 /**
  * @typedef {{
- *   compoundedStabilityFee: Ratio,
- *   latestStabilityFeeUpdate: Timestamp,
+ *   compoundedInterest: Ratio,
+ *   latestInterestUpdate: Timestamp,
  *   numLiquidationsCompleted: number,
  *   numLiquidationsAborted: number,
  *   totalCollateral: Amount<'nat'>,
@@ -230,8 +230,8 @@ export const prepareVaultManagerKit = (
     return harden({
       ...params,
       ...immutable,
-      compoundedStabilityFee: makeRatio(100n, debtBrand), // starts at 1.0, no interest
-      latestStabilityFeeUpdate: startTimeStamp,
+      compoundedInterest: makeRatio(100n, debtBrand), // starts at 1.0, no interest
+      latestInterestUpdate: startTimeStamp,
       numLiquidationsCompleted: 0,
       numLiquidationsAborted: 0,
       totalCollateral: zeroCollateral,
@@ -255,7 +255,7 @@ export const prepareVaultManagerKit = (
         makeVaultInvitation: M.call().returns(M.promise()),
         getPublicTopics: M.call().returns(TopicsRecordShape),
         getQuotes: M.call().returns(NotifierShape),
-        getCompoundedStabilityFee: M.call().returns(RatioShape),
+        getCompoundedInterest: M.call().returns(RatioShape),
       }),
       helper: M.interface(
         'helper',
@@ -276,7 +276,7 @@ export const prepareVaultManagerKit = (
         getAssetSubscriber: M.call().returns(SubscriberShape),
         getCollateralBrand: M.call().returns(BrandShape),
         getDebtBrand: M.call().returns(BrandShape),
-        getCompoundedStabilityFee: M.call().returns(RatioShape),
+        getCompoundedInterest: M.call().returns(RatioShape),
         scopeDescription: M.call(M.string()).returns(M.string()),
         handleBalanceChange: M.call(
           AmountShape,
@@ -319,8 +319,8 @@ export const prepareVaultManagerKit = (
           const ephemera = collateralEphemera(this.state.collateralBrand);
           return ephemera.storedQuotesNotifier;
         },
-        getCompoundedStabilityFee() {
-          return this.state.compoundedStabilityFee;
+        getCompoundedInterest() {
+          return this.state.compoundedInterest;
         },
         getPublicTopics() {
           const { assetTopicKit, metricsTopicKit } = this.state;
@@ -400,7 +400,7 @@ export const prepareVaultManagerKit = (
           // throw. See https://github.com/Agoric/agoric-sdk/issues/4317
           void observeNotifier(quoteNotifier, {
             updateState(value) {
-              trace('storing new quote', value.quoteAmount.value);
+              trace('vaultManager got new collateral quote', value);
               ephemera.storedCollateralQuote = value;
             },
             fail(reason) {
@@ -419,9 +419,9 @@ export const prepareVaultManagerKit = (
             updateTime,
           });
 
-          const stabilityFee = factoryPowers
+          const interestRate = factoryPowers
             .getGovernedParams(collateralBrand)
-            .getStabilityFee();
+            .getInterestRate();
 
           // Update state with the results of charging interest
 
@@ -433,7 +433,7 @@ export const prepareVaultManagerKit = (
               seatAllocationKeyword: 'Minted',
             },
             {
-              stabilityFee,
+              interestRate,
               chargingPeriod: factoryPowers
                 .getGovernedParams(collateralBrand)
                 .getChargingPeriod(),
@@ -442,15 +442,15 @@ export const prepareVaultManagerKit = (
                 .getRecordingPeriod(),
             },
             {
-              latestStabilityFeeUpdate: state.latestStabilityFeeUpdate,
-              compoundedStabilityFee: state.compoundedStabilityFee,
+              latestInterestUpdate: state.latestInterestUpdate,
+              compoundedInterest: state.compoundedInterest,
               totalDebt: state.totalDebt,
             },
             updateTime,
           );
 
-          state.compoundedStabilityFee = changes.compoundedStabilityFee;
-          state.latestStabilityFeeUpdate = changes.latestStabilityFeeUpdate;
+          state.compoundedInterest = changes.compoundedInterest;
+          state.latestInterestUpdate = changes.latestInterestUpdate;
           state.totalDebt = changes.totalDebt;
 
           return facets.helper.assetNotify();
@@ -458,14 +458,14 @@ export const prepareVaultManagerKit = (
         assetNotify() {
           const { state } = this;
           const { collateralBrand, assetTopicKit } = state;
-          const stabilityFee = factoryPowers
+          const interestRate = factoryPowers
             .getGovernedParams(collateralBrand)
-            .getStabilityFee();
+            .getInterestRate();
           /** @type {AssetState} */
           const payload = harden({
-            compoundedStabilityFee: state.compoundedStabilityFee,
-            stabilityFee,
-            latestStabilityFeeUpdate: state.latestStabilityFeeUpdate,
+            compoundedInterest: state.compoundedInterest,
+            interestRate,
+            latestInterestUpdate: state.latestInterestUpdate,
           });
           return assetTopicKit.recorder.write(payload);
         },
@@ -843,8 +843,8 @@ export const prepareVaultManagerKit = (
         /**
          * coefficient on existing debt to calculate new debt
          */
-        getCompoundedStabilityFee() {
-          return this.state.compoundedStabilityFee;
+        getCompoundedInterest() {
+          return this.state.compoundedInterest;
         },
         /**
          * Called by a vault when its balances change.
@@ -963,6 +963,7 @@ export const prepareVaultManagerKit = (
 
           try {
             // TODO `await` is allowed until the above ordering is fixed
+            // eslint-disable-next-line @jessie.js/no-nested-await
             const vaultKit = await vault.initVaultKit(seat, vaultStorageNode);
             // initVaultKit calls back to handleBalanceChange() which will add the
             // vault to prioritizedVaults
@@ -1036,7 +1037,7 @@ export const prepareVaultManagerKit = (
           if (!storedCollateralQuote)
             throw Fail`lockOraclePrices called before a collateral quote was available`;
           trace(
-            `lockOraclePrices`,
+            `lockPrice`,
             getAmountIn(storedCollateralQuote),
             getAmountOut(storedCollateralQuote),
           );
@@ -1046,33 +1047,25 @@ export const prepareVaultManagerKit = (
           return storedCollateralQuote;
         },
         /**
-         * @param {ERef<AuctioneerPublicFacet>} auctionPF
+         * @param {AuctioneerPublicFacet} auctionPF
          */
         async liquidateVaults(auctionPF) {
           const { state, facets } = this;
           const { self, helper } = facets;
           const {
             collateralBrand,
-            compoundedStabilityFee,
+            compoundedInterest,
             debtBrand,
             liquidatingVaults,
             lockedQuote,
           } = state;
           trace(collateralBrand, 'considering liquidation');
 
-          if (!lockedQuote) {
-            // By design, the first cycle of auction may call this before a quote is locked
-            // because the schedule is global at the vaultDirector level, and if a manager
-            // starts after the price lock time there's nothing to be done.
-            // NB: this message should not log repeatedly.
-            console.error(
-              'Skipping liquidation because no quote is locked yet (may happen with new manager)',
-            );
-            return;
-          }
-
           const { prioritizedVaults } = collateralEphemera(collateralBrand);
-          prioritizedVaults || Fail`prioritizedVaults missing from ephemera`;
+          assert(factoryPowers && prioritizedVaults && zcf);
+          lockedQuote ||
+            Fail`Must have locked a quote before liquidating vaults.`;
+          assert(lockedQuote); // redundant with previous line
 
           const liqMargin = self.getGovernedParams().getLiquidationMargin();
 
@@ -1082,7 +1075,7 @@ export const prepareVaultManagerKit = (
               zcf,
               {
                 quote: lockedQuote,
-                interest: compoundedStabilityFee,
+                interest: compoundedInterest,
                 margin: liqMargin,
               },
               prioritizedVaults,
@@ -1167,11 +1160,11 @@ export const prepareVaultManagerKit = (
         helper.start();
         void state.assetTopicKit.recorder.write(
           harden({
-            compoundedStabilityFee: state.compoundedStabilityFee,
-            stabilityFee: factoryPowers
+            compoundedInterest: state.compoundedInterest,
+            interestRate: factoryPowers
               .getGovernedParams(state.collateralBrand)
-              .getStabilityFee(),
-            latestStabilityFeeUpdate: state.latestStabilityFeeUpdate,
+              .getInterestRate(),
+            latestInterestUpdate: state.latestInterestUpdate,
           }),
         );
 

package/scripts/add-STARS.js

@@ -1,43 +0,0 @@
-import { makeHelpers } from '@agoric/deploy-script-support';
-import { defaultProposalBuilder as vaultProposalBuilder } from './add-collateral-core.js';
-import { defaultProposalBuilder as oraclesProposalBuilder } from './price-feed-core.js';
-
-/** @type {import('@agoric/deploy-script-support/src/externalTypes.js').ProposalBuilder} */
-export const starsVaultProposalBuilder = async powers => {
-  return vaultProposalBuilder(powers, {
-    interchainAssetOptions: {
-      // Values for the Stargaze token on Osmosis
-      denom:
-        'ibc/987C17B11ABC2B20019178ACE62929FE9840202CE79498E29FE8E5CB02B7C0A4',
-      decimalPlaces: 6,
-      keyword: 'STARS',
-      oracleBrand: 'STARS',
-      proposedName: 'STARS',
-    },
-  });
-};
-
-/** @type {import('@agoric/deploy-script-support/src/externalTypes.js').ProposalBuilder} */
-export const starsOraclesProposalBuilder = async powers => {
-  return oraclesProposalBuilder(powers, {
-    AGORIC_INSTANCE_NAME: `STARS-USD price feed`,
-    IN_BRAND_LOOKUP: ['agoricNames', 'oracleBrand', 'STARS'],
-    IN_BRAND_DECIMALS: 6,
-    OUT_BRAND_LOOKUP: ['agoricNames', 'oracleBrand', 'USD'],
-    OUT_BRAND_DECIMALS: 4,
-    oracleAddresses: [
-      // copied from decentral-main-vaults-config.json
-      'agoric1krunjcqfrf7la48zrvdfeeqtls5r00ep68mzkr',
-      'agoric19uscwxdac6cf6z7d5e26e0jm0lgwstc47cpll8',
-      'agoric144rrhh4m09mh7aaffhm6xy223ym76gve2x7y78',
-      'agoric19d6gnr9fyp6hev4tlrg87zjrzsd5gzr5qlfq2p',
-      'agoric1n4fcxsnkxe4gj6e24naec99hzmc4pjfdccy5nj',
-    ],
-  });
-};
-
-export default async (homeP, endowments) => {
-  const { writeCoreProposal } = await makeHelpers(homeP, endowments);
-  await writeCoreProposal('add-STARS', starsVaultProposalBuilder);
-  await writeCoreProposal('add-STARS-oracles', starsOraclesProposalBuilder);
-};