CoolerLtvOracle
Inherits: ICoolerLtvOracle, Policy, PolicyAdmin
It is a custom oracle (not dependant on external markets/AMMs/dependencies) to give the serve both the Origination LTV and Liquidation LTV
- They are both quoted in [debtToken / collateralToken] units
- It is a fixed 18dp price
- Origination LTV updates on a per second basis according to a policy set rate of change (and is up only or flat)
- Liquidation LTV is a policy set percentage above the Origination LTV
State Variables
_DEBT_TOKEN
The debt token
ERC20 private immutable _DEBT_TOKEN;
_COLLATERAL_TOKEN
The collateral token
ERC20 private immutable _COLLATERAL_TOKEN;
originationLtvData
The current Origination LTV state data
OriginationLtvData public override originationLtvData;
maxOriginationLtvDelta
The maximum allowed Origination LTV change on any single setOriginationLtvAt()
, in absolute terms
between the Origination LTV as of now and the targetOriginationLtv
18 decimal places, 0.20e18 == $0.20. Used as a bound to avoid unintended/fat fingering when updating Origination LTV
uint96 public override maxOriginationLtvDelta;
minOriginationLtvTargetTimeDelta
The minimum time delta required for Origination LTV to reach it's target value when
setOriginationLtvAt()
is called.
In seconds. Used as a bound to avoid unintended/fat fingering when updating Origination LTV
uint32 public override minOriginationLtvTargetTimeDelta;
maxOriginationLtvRateOfChange
The maximum (positive) rate of change of Origination LTV allowed, when
setOriginationLtvAt()
is called.
Units: [Origination LTV / second]
uint96 public override maxOriginationLtvRateOfChange;
maxLiquidationLtvPremiumBps
The maximum Liquidation LTV premium (in basis points) which is allowed to be set when calling
setLiquidationLtvPremiumBps()
uint16 public override maxLiquidationLtvPremiumBps;
liquidationLtvPremiumBps
The premium (in basis points) of the Liquidation LTV above the Origination LTV
uint16 public override liquidationLtvPremiumBps;
DECIMALS
The decimal precision of both the Origination LTV and Liquidation LTV
uint8 public constant override DECIMALS = 18;
BASIS_POINTS_DIVISOR
uint96 public constant BASIS_POINTS_DIVISOR = 10_000;
Functions
constructor
constructor(
address kernel_,
address collateralToken_,
address debtToken_,
uint96 initialOriginationLtv_,
uint96 maxOriginationLtvDelta_,
uint32 minOriginationLtvTargetTimeDelta_,
uint96 maxOriginationLtvRateOfChange_,
uint16 maxLiquidationLtvPremiumBps_,
uint16 liquidationLtvPremiumBps_
) Policy(Kernel(kernel_));
configureDependencies
Define module dependencies for this policy.
function configureDependencies() external override returns (Keycode[] memory dependencies);
Returns
Name | Type | Description |
---|---|---|
dependencies | Keycode[] | - Keycode array of module dependencies. |
setMaxOriginationLtvDelta
Set the maximum allowed Origination LTV change on any single setOriginationLtvAt()
, in absolute terms
between the Origination LTV as of now and the targetOriginationLtv
18 decimal places, 0.20e18 == $0.20
function setMaxOriginationLtvDelta(uint96 maxDelta) external override onlyAdminRole;
setMinOriginationLtvTargetTimeDelta
Set the minimum time delta required for Origination LTV to reach it's target value when
setOriginationLtvAt()
is called.
In seconds.
function setMinOriginationLtvTargetTimeDelta(uint32 minTargetTimeDelta) external override onlyAdminRole;
setMaxOriginationLtvRateOfChange
Set the maximum (positive) rate of change of Origination LTV allowed, when
setOriginationLtvAt()
is called.
Units: [Origination LTV / second]
function setMaxOriginationLtvRateOfChange(uint96 originationLtvDelta, uint32 timeDelta)
external
override
onlyAdminRole;
setOriginationLtvAt
Set the target Origination LTV which will incrementally increase from it's current value to targetOriginationLtv
between now and targetTime
.
targetTime is unixtime, targetOriginationLtv is 18 decimal places, 1.05e18 == $1.05
function setOriginationLtvAt(uint96 targetValue, uint40 targetTime) external override onlyAdminRole;
setMaxLiquidationLtvPremiumBps
Set Liquidation LTV premium (in basis points) of the Liquidation LTV above the Origination LTV
function setMaxLiquidationLtvPremiumBps(uint16 maxPremiumBps) external override onlyAdminRole;
setLiquidationLtvPremiumBps
Set maximum Liquidation LTV premium (in basis points) which is allowed to be set when calling
setLiquidationLtvPremiumBps()
.
function setLiquidationLtvPremiumBps(uint16 premiumBps) external override onlyAdminRole;
collateralToken
The collateral asset of the LTV [debtToken / collateralToken]
function collateralToken() external view override returns (IERC20);
debtToken
The debt asset of the LTV [debtToken / collateralToken]
function debtToken() external view override returns (IERC20);
currentLtvs
function currentLtvs() public view override returns (uint96 originationLtv, uint96 liquidationLtv);
currentLiquidationLtv
The current Liquidation LTV
function currentLiquidationLtv() external view override returns (uint96);
currentOriginationLtv
The current Origination LTV
function currentOriginationLtv() public view override returns (uint96);
_currentLiquidationLtv
function _currentLiquidationLtv(uint96 oltv) private view returns (uint96);
Structs
OriginationLtvData
struct OriginationLtvData {
uint96 startingValue;
uint40 startTime;
uint96 targetValue;
uint40 targetTime;
uint96 slope;
}