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//! Countertrade contract
use std::fmt::Display;
use crate::{
price::PriceBaseInQuote,
storage::{
Collateral, DirectionToBase, LeverageToBase, LpToken, MarketId, NonZero, RawAddr,
TakeProfitTrader,
},
time::Timestamp,
};
use cosmwasm_std::{Addr, Binary, Decimal256, Uint128};
use super::market::{
deferred_execution::DeferredExecId,
position::{PositionId, PositionQueryResponse},
};
/// Message for instantiating a new countertrade contract.
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
pub struct InstantiateMsg {
/// Factory contract we're countertrading on
pub factory: RawAddr,
/// Address of the administrator of the contract
pub admin: RawAddr,
/// Initial configuration values
pub config: ConfigUpdate,
}
/// Full configuration
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
/// Updates to configuration values.
pub struct Config {
/// Administrator of the contract, allowed to make config updates
pub admin: Addr,
/// Pending administrator, ready to be accepted, if any.
pub pending_admin: Option<Addr>,
/// Factory we are balancing
pub factory: Addr,
/// Minimum funding rate for popular side
pub min_funding: Decimal256,
/// Target funding rate for popular side
pub target_funding: Decimal256,
/// Maximum funding rate for popular side
pub max_funding: Decimal256,
/// Allowed iterations to compute delta notional
pub iterations: u8,
/// Factor used to compute take profit price
pub take_profit_factor: Decimal256,
/// Factor used to compute stop loss price
pub stop_loss_factor: Decimal256,
/// Maximum leverage value we'll use
///
/// If a market has lower max leverage, we use that instead
pub max_leverage: LeverageToBase,
}
impl Config {
/// Check validity of config values
pub fn check(&self) -> anyhow::Result<()> {
if self.min_funding >= self.target_funding {
Err(anyhow::anyhow!(
"Minimum funding must be strictly less than target"
))
} else if self.target_funding >= self.max_funding {
Err(anyhow::anyhow!(
"Target funding must be strictly less than max"
))
} else if self.max_leverage.into_decimal256() < Decimal256::from_ratio(2u32, 1u32) {
Err(anyhow::anyhow!("Max leverage must be at least 2"))
} else {
Ok(())
}
}
}
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone, Default)]
#[serde(rename_all = "snake_case")]
#[allow(missing_docs)]
/// Updates to configuration values.
///
/// See [Config] for field meanings.
pub struct ConfigUpdate {
pub min_funding: Option<Decimal256>,
pub target_funding: Option<Decimal256>,
pub max_funding: Option<Decimal256>,
pub max_leverage: Option<LeverageToBase>,
pub iterations: Option<u8>,
pub take_profit_factor: Option<Decimal256>,
pub stop_loss_factor: Option<Decimal256>,
}
/// Executions available on the countertrade contract.
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg {
/// Cw20 interface
Receive {
/// Owner of funds sent to the contract
sender: RawAddr,
/// Amount of funds sent
amount: Uint128,
/// Must parse to a [ExecuteMsg]
msg: Binary,
},
/// Deposit funds for a given market
Deposit {
/// Market to apply funds to
market: MarketId,
},
/// Withdraw funds from a given market
Withdraw {
/// The number of LP shares to remove
amount: NonZero<LpToken>,
/// Market to withdraw from
market: MarketId,
},
/// Perform a balancing operation on the given market
DoWork {
/// Which markets to balance
market: MarketId,
},
/// Appoint a new administrator
AppointAdmin {
/// Address of the new administrator
admin: RawAddr,
},
/// Accept appointment of admin
AcceptAdmin {},
/// Update configuration values
UpdateConfig(ConfigUpdate),
}
/// Queries that can be performed on the countertrade contract.
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
/// Get the current config
///
/// Returns [Config]
Config {},
/// Check the balance of an address for all markets.
///
/// Returns [BalanceResp]
Balance {
/// Address of the token holder
address: RawAddr,
/// Value from [BalanceResp::next_start_after]
start_after: Option<MarketId>,
/// How many values to return
limit: Option<u32>,
},
/// Check the status of a single market
///
/// Returns [MarketsResp]
Markets {
/// Value from [MarketsResp::next_start_after]
start_after: Option<MarketId>,
/// How many values to return
limit: Option<u32>,
},
/// Check if the given market has any work to do
///
/// Returns [HasWorkResp]
HasWork {
/// Which market to check
market: MarketId,
},
}
/// Response from [QueryMsg::Balance]
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
pub struct BalanceResp {
/// Market balances in this batch
pub markets: Vec<MarketBalance>,
/// Next start_after value, if we have more balances
pub next_start_after: Option<MarketId>,
}
/// Individual market response from [QueryMsg::Balance]
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone, PartialEq, Eq)]
#[serde(rename_all = "snake_case")]
pub struct MarketBalance {
/// Market where a balance is held
pub market: MarketId,
/// Token for this market
pub token: crate::token::Token,
/// Shares of the pool held by this LP
pub shares: NonZero<LpToken>,
/// Collateral equivalent of these shares
pub collateral: NonZero<Collateral>,
/// Size of the entire pool, in LP tokens
pub pool_size: NonZero<LpToken>,
}
/// Either a native token or CW20 contract
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone, PartialEq, Eq)]
#[serde(rename_all = "snake_case")]
pub enum Token {
/// Native coin and its denom
Native(String),
/// CW20 contract and its address
Cw20(Addr),
}
impl Token {
/// Ensure that the two versions of the token are compatible.
pub fn ensure_matches(&self, token: &crate::token::Token) -> anyhow::Result<()> {
match (self, token) {
(Token::Native(_), crate::token::Token::Cw20 { addr, .. }) => {
anyhow::bail!("Provided native funds, but market requires a CW20 (contract {addr})")
}
(
Token::Native(denom1),
crate::token::Token::Native {
denom: denom2,
decimal_places: _,
},
) => {
if denom1 == denom2 {
Ok(())
} else {
Err(anyhow::anyhow!("Wrong denom provided. You sent {denom1}, but the contract expects {denom2}"))
}
}
(
Token::Cw20(addr1),
crate::token::Token::Cw20 {
addr: addr2,
decimal_places: _,
},
) => {
if addr1.as_str() == addr2.as_str() {
Ok(())
} else {
Err(anyhow::anyhow!(
"Wrong CW20 used. You used {addr1}, but the contract expects {addr2}"
))
}
}
(Token::Cw20(_), crate::token::Token::Native { denom, .. }) => {
anyhow::bail!(
"Provided CW20 funds, but market requires native funds with denom {denom}"
)
}
}
}
}
impl Display for Token {
fn fmt(&self, f: &mut std::fmt::Formatter) -> std::fmt::Result {
match self {
Token::Native(denom) => f.write_str(denom),
Token::Cw20(addr) => f.write_str(addr.as_str()),
}
}
}
/// Response from [QueryMsg::Markets]
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
pub struct MarketsResp {
/// Market statuses in this batch
pub markets: Vec<MarketStatus>,
/// Next start_after value, if we have more markets
pub next_start_after: Option<MarketId>,
}
/// Status of a single market
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
pub struct MarketStatus {
/// Which market
pub id: MarketId,
/// Collateral held inside the contract
///
/// Does not include active collateral of a position
pub collateral: Collateral,
/// Number of outstanding shares
pub shares: LpToken,
/// Our open position, if we have exactly one
pub position: Option<PositionQueryResponse>,
/// Do we have too many open positions?
pub too_many_positions: bool,
}
/// Whether or not there is work available.
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone, PartialEq, Eq)]
#[serde(rename_all = "snake_case")]
pub enum HasWorkResp {
/// No work is available
NoWork {},
/// There is work available to be done
Work {
/// A description of the work, for display and testing purposes.
desc: WorkDescription,
},
}
/// Work to be performed for a specific market.
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone, PartialEq, Eq)]
#[serde(rename_all = "snake_case")]
pub enum WorkDescription {
/// Open a new position
OpenPosition {
/// Direction of the new position
direction: DirectionToBase,
/// Leverage
leverage: LeverageToBase,
/// Amount of deposit collateral
collateral: NonZero<Collateral>,
/// Take profit value
take_profit: TakeProfitTrader,
/// Stop loss price of new position
stop_loss_override: Option<PriceBaseInQuote>,
},
/// Close an unnecessary position
ClosePosition {
/// Position to be closed
pos_id: PositionId,
},
/// Update collateral balance based on an already closed position
CollectClosedPosition {
/// Position that has already been closed
pos_id: PositionId,
/// Close time, used for constructing future cursors
close_time: Timestamp,
/// Active collateral that was sent back to our contract
active_collateral: Collateral,
},
/// All collateral exhausted, reset shares to 0
ResetShares,
/// Deferred execution completed, we can continue our processing
ClearDeferredExec {
/// ID to be cleared
id: DeferredExecId,
},
/// Add collateral to a position, causing notional size to increase
UpdatePositionAddCollateralImpactSize {
/// ID of position to update
pos_id: PositionId,
/// Amount of funds to add to the position
amount: NonZero<Collateral>,
},
/// Remove collateral from a position, causing notional size to decrease
UpdatePositionRemoveCollateralImpactSize {
/// ID of position to update
pos_id: PositionId,
/// Amount of funds to remove from the position
amount: NonZero<Collateral>,
/// Crank fee to be paid
crank_fee: Collateral,
},
}
impl std::fmt::Display for WorkDescription {
fn fmt(&self, f: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
match self {
WorkDescription::OpenPosition {
direction,
leverage,
collateral,
..
} => write!(
f,
"Open {direction:?} position with leverage {leverage} and collateral {collateral}"
),
WorkDescription::ClosePosition { pos_id } => write!(f, "Close Position {pos_id}"),
WorkDescription::CollectClosedPosition { pos_id, .. } => {
write!(f, "Collect Closed Position Id of {}", pos_id)
}
WorkDescription::ResetShares => write!(f, "Reset Shares"),
WorkDescription::ClearDeferredExec { id } => {
write!(f, "Clear Deferred Exec Id of {id}")
}
WorkDescription::UpdatePositionAddCollateralImpactSize { pos_id, amount } => {
write!(
f,
"Add {amount} Collateral to Position Id of {pos_id} impacting size"
)
}
WorkDescription::UpdatePositionRemoveCollateralImpactSize {
pos_id, amount, ..
} => write!(
f,
"Remove {amount} Collateral to Position Id of {pos_id} impacting size"
),
}
}
}
/// Migration message, currently no fields needed
#[derive(serde::Serialize, serde::Deserialize, Debug, Clone)]
#[serde(rename_all = "snake_case")]
pub struct MigrateMsg {}