@reflectmoney/stable.ts 2.4.0 → 2.5.0

package/dist/classes/Stablecoin.d.ts

@@ -220,6 +220,16 @@ export declare abstract class Stablecoin<T extends Controller> {
      * @returns Promise resolving to the USD exchange rate as a number
      */
     abstract getReceiptUsdExchangeRate(): Promise<number>;
+    /**
+     * Abstract method to get the Base->Collateral exchange rate.
+     * Returned as an integer scaled by EXCHANGE_RATE_PRECISION.
+     */
+    abstract getBaseToCollateralExchangeRate(): Promise<number>;
+    /**
+     * Abstract method to get the Receipt->Collateral exchange rate.
+     * Returned as an integer scaled by EXCHANGE_RATE_PRECISION.
+     */
+    abstract getReceiptToCollateralExchangeRate(): Promise<number>;
     /**
      * Abstract method to simulate mint math and get the quote for a mint operation.
      * Must be implemented by concrete stablecoin classes.

package/dist/classes/Stablecoin.js

@@ -357,17 +357,12 @@ class Stablecoin {
      */
     stablecoinToCollateralWithSlippage(amount, collateralMint, slippageBips) {
         return __awaiter(this, void 0, void 0, function* () {
-            const { data } = yield this.getCollateralPrice(collateralMint);
-            const priceObj = data[0].price;
-            const price = new bn_js_1.default(priceObj.price);
-            const expo = priceObj.expo;
-            const { decimals } = yield (0, spl_token_1.getMint)(this.connection, collateralMint);
+            // Use receipt-to-collateral exchange rate (already accounts for decimals)
+            const rate = new bn_js_1.default(yield this.getReceiptToCollateralExchangeRate()); // scaled by EXCHANGE_RATE_PRECISION
             const collateralAmount = new bn_js_1.default(amount)
-                .mul(new bn_js_1.default(10).pow(new bn_js_1.default(decimals)))
+                .mul(rate)
                 .mul(new bn_js_1.default(10000 - slippageBips))
-                .div(new bn_js_1.default(10).pow(new bn_js_1.default(6))) // stablecoin decimals
-                .div(price)
-                .div(new bn_js_1.default(10).pow(new bn_js_1.default(expo)))
+                .div(new bn_js_1.default(constants_1.EXCHANGE_RATE_PRECISION))
                 .div(new bn_js_1.default(10000));
             return collateralAmount;
         });
@@ -382,17 +377,12 @@ class Stablecoin {
      */
     collateralToStablecoinWithSlippage(amount, collateralMint, slippageBips) {
         return __awaiter(this, void 0, void 0, function* () {
-            const { data } = yield this.getCollateralPrice(collateralMint);
-            const priceObj = data[0].price;
-            const price = new bn_js_1.default(priceObj.price);
-            const expo = priceObj.expo;
-            const { decimals } = yield (0, spl_token_1.getMint)(this.connection, collateralMint);
+            // Invert the receipt-to-collateral exchange rate
+            const receiptToCollateralRate = new bn_js_1.default(yield this.getReceiptToCollateralExchangeRate()); // scaled
             const stablecoinAmount = new bn_js_1.default(amount)
-                .mul(price)
-                .mul(new bn_js_1.default(10).pow(new bn_js_1.default(6))) // stablecoin decimals
+                .mul(new bn_js_1.default(constants_1.EXCHANGE_RATE_PRECISION))
                 .mul(new bn_js_1.default(10000 - slippageBips))
-                .div(new bn_js_1.default(10).pow(new bn_js_1.default(expo)))
-                .div(new bn_js_1.default(10).pow(new bn_js_1.default(decimals)))
+                .div(receiptToCollateralRate)
                 .div(new bn_js_1.default(10000));
             return stablecoinAmount;
         });

package/dist/stablecoins/LstStablecoin.d.ts

@@ -99,7 +99,9 @@ export declare class LstStablecoin extends Stablecoin<DriftLstController> {
      * @returns Promise resolving to the USD exchange rate as a number
      */
     getBaseUsdExchangeRate(): Promise<number>;
+    getBaseToCollateralExchangeRate(): Promise<number>;
     getReceiptUsdExchangeRate(): Promise<number>;
+    getReceiptToCollateralExchangeRate(): Promise<number>;
     simulateMintMath(): Promise<BN>;
     simulateRedeemMath(): Promise<BN>;
 }

package/dist/stablecoins/LstStablecoin.js

@@ -312,6 +312,11 @@ class LstStablecoin extends Stablecoin_1.Stablecoin {
             return totalUsdValue;
         });
     }
+    getBaseToCollateralExchangeRate() {
+        return __awaiter(this, void 0, void 0, function* () {
+            return this.getBaseUsdExchangeRate();
+        });
+    }
     getReceiptUsdExchangeRate() {
         return __awaiter(this, void 0, void 0, function* () {
             const baseUsdExchangeRate = yield this.getBaseUsdExchangeRate();
@@ -325,6 +330,11 @@ class LstStablecoin extends Stablecoin_1.Stablecoin {
             return exchangeRate;
         });
     }
+    getReceiptToCollateralExchangeRate() {
+        return __awaiter(this, void 0, void 0, function* () {
+            return this.getReceiptUsdExchangeRate();
+        });
+    }
     simulateMintMath() {
         return __awaiter(this, void 0, void 0, function* () {
             return new bn_js_1.default(0);

package/dist/stablecoins/UsdcPlusStablecoin.d.ts

@@ -83,6 +83,16 @@ export declare class UsdcPlusStablecoin extends Stablecoin<DriftUsdcController>
      */
     getBaseUsdExchangeRate(): Promise<number>;
     getReceiptUsdExchangeRate(): Promise<number>;
+    /**
+     * Base (USDC) to Collateral (USDC) exchange rate.
+     * For USDC+, base and collateral are the same asset/decimals.
+     */
+    getBaseToCollateralExchangeRate(): Promise<number>;
+    /**
+     * Receipt (USDC+) to Collateral (USDC) exchange rate.
+     * rate = deposited_vault_value / receipt_supply, scaled by EXCHANGE_RATE_PRECISION
+     */
+    getReceiptToCollateralExchangeRate(): Promise<number>;
     /**
      * Math helper function that calculates receipt tokens to issue for a given deposit amount.
      * Mirrors the compute_receipt_token function from Rust.

package/dist/stablecoins/UsdcPlusStablecoin.js

@@ -291,6 +291,35 @@ class UsdcPlusStablecoin extends Stablecoin_1.Stablecoin {
             return this.getBaseUsdExchangeRate();
         });
     }
+    /**
+     * Base (USDC) to Collateral (USDC) exchange rate.
+     * For USDC+, base and collateral are the same asset/decimals.
+     */
+    getBaseToCollateralExchangeRate() {
+        return __awaiter(this, void 0, void 0, function* () {
+            const { scaledBalance, balanceType } = this
+                .driftClient
+                .getSpotPosition(0);
+            const spotMarketAccount = this
+                .driftClient
+                .getSpotMarketAccount(0);
+            const usdcAmount = (0, sdk_2.getTokenAmount)(scaledBalance, spotMarketAccount, balanceType);
+            const { supply, decimals } = yield (0, spl_token_1.getMint)(this.connection, this.stablecoinMint, "confirmed");
+            const exchangeRate = usdcAmount
+                .mul(new bn_js_1.default(constants_1.EXCHANGE_RATE_PRECISION)) // gives us exhcnage rate precision
+                .div(new bn_js_1.default(supply.toString())); // price per stablecoin
+            return exchangeRate.toNumber();
+        });
+    }
+    /**
+     * Receipt (USDC+) to Collateral (USDC) exchange rate.
+     * rate = deposited_vault_value / receipt_supply, scaled by EXCHANGE_RATE_PRECISION
+     */
+    getReceiptToCollateralExchangeRate() {
+        return __awaiter(this, void 0, void 0, function* () {
+            return this.getBaseToCollateralExchangeRate();
+        });
+    }
     /**
      * Math helper function that calculates receipt tokens to issue for a given deposit amount.
      * Mirrors the compute_receipt_token function from Rust.

package/package.json

@@ -1,6 +1,6 @@
 {
   "name": "@reflectmoney/stable.ts",
-  "version": "2.4.0",
+  "version": "2.5.0",
   "type": "commonjs",
   "author": "stablecoinjesus @ Palindrome Engineering",
   "repository": {
@@ -8,7 +8,8 @@
     "url": "https://github.com/palindrome-eng/reflect-delta-neutral.git"
   },
   "scripts": {
-    "test": "mocha --require ts-node/register ./tests/index.test.ts"
+    "test": "mocha --require ts-node/register ./tests/index.test.ts",
+    "test:slippage": "mocha --require ts-node/register ./tests/slippage.test.ts"
   },
   "dependencies": {
     "@coral-xyz/anchor": "0.29.0",