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Subtract CL pool reserves during Collect instead of Burn. (#191)
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@jfarid27
jfarid27 authored Nov 16, 2024
1 parent 2f26343 commit 8ad6b51
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Showing 4 changed files with 144 additions and 147 deletions.
14 changes: 2 additions & 12 deletions src/Constants.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -178,12 +178,7 @@ const LISK_CONSTANTS: chainConstants = {
startBlock: 15591759,
updateDelta: 60 * 60, // 1 hour
},
rewardToken: {
address: "0x7f9AdFbd38b669F03d1d11000Bc76b9AaEA28A81",
symbol: "XVELO",
decimals: 18,
createdBlock: 15405191,
},
rewardToken: findToken(LISK_WHITELISTED_TOKENS, "XVELO"),
rpcURL: process.env.MODE_RPC_URL || "wss://lisk.drpc.org",
stablecoinPools: [],
stablecoinPoolAddresses: [],
Expand All @@ -205,12 +200,7 @@ const MODE_CONSTANTS: chainConstants = {
startBlock: 15591759,
updateDelta: 60 * 60, // 1 hour
},
rewardToken: {
address: "0x7f9AdFbd38b669F03d1d11000Bc76b9AaEA28A81",
symbol: "XVELO",
decimals: 18,
createdBlock: 15405191,
},
rewardToken: findToken(MODE_WHITELISTED_TOKENS, "XVELO"),
rpcURL: process.env.MODE_RPC_URL || "https://mainnet.mode.network",
stablecoinPools: MODE_STABLECOIN_POOLS,
stablecoinPoolAddresses: MODE_STABLECOIN_POOLS.map((pool) => pool.address),
Expand Down
185 changes: 99 additions & 86 deletions src/EventHandlers/CLPool.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -18,23 +18,22 @@ import { multiplyBase1e18, abs } from "../Maths";
import { updateLiquidityPoolAggregator } from "../Aggregators/LiquidityPoolAggregator";

/**
* Updates the fee amounts for a CLPoolAggregator based on event data.
*
* This function calculates the new total fees for both tokens in a liquidity pool
* and their equivalent value in USD. It normalizes the token amounts to a base of 1e18
* for consistent calculations and updates the total fees in the aggregator.
*
* @param clPoolAggregator - The current state of the CLPoolAggregator, containing existing fee data.
* @param event - The event data containing the fee amounts for token0 and token1.
* @param token0Instance - The instance of token0, containing its decimals and price per USD.
* @param token1Instance - The instance of token1, containing its decimals and price per USD.
*
* @returns An object containing the updated total fees for token0, token1, and their equivalent in USD.
*
* The returned object has the following structure:
* - `totalFees0`: The updated total fees for token0, normalized to 1e18.
* - `totalFees1`: The updated total fees for token1, normalized to 1e18.
* - `totalFeesUSD`: The updated total fees in USD, calculated using the normalized token fees and their prices.
* Updates the fee-related metrics for a Concentrated Liquidity Pool.
*
* This function calculates the total fees collected in both tokens and USD value.
* The USD values are computed by:
* 1. Normalizing token amounts to 18 decimals
* 2. Multiplying by the token's USD price
*
* @param liquidityPoolAggregator - The current state of the liquidity pool
* @param event - The event containing fee collection data (amount0, amount1)
* @param token0Instance - Token instance for token0, containing decimals and price data
* @param token1Instance - Token instance for token1, containing decimals and price data
*
* @returns {Object} Updated fee metrics
* @returns {bigint} .totalFees0 - Cumulative fees collected in token0
* @returns {bigint} .totalFees1 - Cumulative fees collected in token1
* @returns {bigint} .totalFeesUSD - Cumulative fees collected in USD
*/
function updateCLPoolFees(
liquidityPoolAggregator: LiquidityPoolAggregator,
Expand Down Expand Up @@ -77,6 +76,32 @@ function updateCLPoolFees(
return tokenUpdateData;
}

/**
* Updates the liquidity-related metrics for a Concentrated Liquidity Pool.
*
* This function calculates both addition and subtraction of liquidity to handle
* various pool operations (mint, burn, collect). For each token:
* 1. Normalizes reserve amounts to 18 decimals
* 2. Calculates USD value using token prices
* 3. Computes both addition and subtraction scenarios
*
* @param liquidityPoolAggregator - The current state of the liquidity pool
* @param event - The event containing liquidity change data (amount0, amount1)
* @param token0Instance - Token instance for token0, containing decimals and price data
* @param token1Instance - Token instance for token1, containing decimals and price data
*
* @returns {Object} Updated liquidity metrics
* @returns {bigint} .reserve0 - New token0 reserve amount
* @returns {bigint} .reserve1 - New token1 reserve amount
* @returns {bigint} .addTotalLiquidity0USD - USD value if adding token0 liquidity
* @returns {bigint} .subTotalLiquidity0USD - USD value if removing token0 liquidity
* @returns {bigint} .addTotalLiquidity1USD - USD value if adding token1 liquidity
* @returns {bigint} .subTotalLiquidity1USD - USD value if removing token1 liquidity
* @returns {bigint} .addTotalLiquidityUSD - Total USD value for liquidity addition
* @returns {bigint} .subTotalLiquidityUSD - Total USD value for liquidity removal
* @returns {bigint} .normalizedReserve0 - Reserve0 normalized to 18 decimals
* @returns {bigint} .normalizedReserve1 - Reserve1 normalized to 18 decimals
*/
function updateCLPoolLiquidity(
liquidityPoolAggregator: LiquidityPoolAggregator,
event: any,
Expand All @@ -85,63 +110,76 @@ function updateCLPoolLiquidity(
) {

let tokenUpdateData = {
totalLiquidityUSD: 0n,
addTotalLiquidity0USD: 0n,
subTotalLiquidity0USD: 0n,
addTotalLiquidity1USD: 0n,
subTotalLiquidity1USD: 0n,
addTotalLiquidityUSD: 0n,
subTotalLiquidityUSD: 0n,
reserve0: 0n,
reserve1: 0n,
normalizedReserve0: 0n,
normalizedReserve1: 0n,
};

// Update reserves regardles of whether the token is priced
tokenUpdateData.reserve0 += event.params.amount0;

tokenUpdateData.reserve1 += event.params.amount1;
// Return new token reserve amounts
tokenUpdateData.reserve0 = event.params.amount0;
tokenUpdateData.reserve1 = event.params.amount1;

// Update liquidity amounts in USD. Computes both the addition and subtraction of liquidity
// from event params.
if (token0Instance) {
tokenUpdateData.normalizedReserve0 += normalizeTokenAmountTo1e18(
event.params.amount0,
const normalizedReserveAdd0 = normalizeTokenAmountTo1e18(
liquidityPoolAggregator.reserve0 + tokenUpdateData.reserve0,
Number(token0Instance.decimals || 18)
);
const normalizedReserveSub0 = normalizeTokenAmountTo1e18(
liquidityPoolAggregator.reserve0 - tokenUpdateData.reserve0,
Number(token0Instance.decimals || 18)
);

tokenUpdateData.addTotalLiquidity0USD = multiplyBase1e18(
normalizedReserveAdd0,
liquidityPoolAggregator.token0Price
);

tokenUpdateData.totalLiquidityUSD += multiplyBase1e18(
tokenUpdateData.normalizedReserve0,
tokenUpdateData.subTotalLiquidity0USD = multiplyBase1e18(
normalizedReserveSub0,
liquidityPoolAggregator.token0Price
);
}

if (token1Instance) {
tokenUpdateData.normalizedReserve1 += normalizeTokenAmountTo1e18(
event.params.amount1,
const normalizedReserveAdd1 = normalizeTokenAmountTo1e18(
liquidityPoolAggregator.reserve1 + tokenUpdateData.reserve1,
Number(token1Instance.decimals || 18)
);
const normalizedReserveSub1 = normalizeTokenAmountTo1e18(
liquidityPoolAggregator.reserve1 - tokenUpdateData.reserve1,
Number(token1Instance.decimals || 18)
);
tokenUpdateData.totalLiquidityUSD += multiplyBase1e18(
tokenUpdateData.normalizedReserve1,

tokenUpdateData.addTotalLiquidity1USD = multiplyBase1e18(
normalizedReserveAdd1,
liquidityPoolAggregator.token1Price
);

tokenUpdateData.subTotalLiquidity1USD = multiplyBase1e18(
normalizedReserveSub1,
liquidityPoolAggregator.token1Price
);
}

tokenUpdateData.addTotalLiquidityUSD = tokenUpdateData.addTotalLiquidity0USD + tokenUpdateData.addTotalLiquidity1USD;
tokenUpdateData.subTotalLiquidityUSD = tokenUpdateData.subTotalLiquidity0USD + tokenUpdateData.subTotalLiquidity1USD;

return tokenUpdateData;
}

CLPool.Burn.handlerWithLoader({
loader: async ({ event, context }) => {
const pool_id = event.srcAddress;

const liquidityPoolAggregator = await context.LiquidityPoolAggregator.get(pool_id);

if (!liquidityPoolAggregator) {
context.log.error(`CLPoolAggregator ${pool_id} not found during mint`);
return null;
}

const [token0Instance, token1Instance] = await Promise.all([
context.Token.get(liquidityPoolAggregator.token0_id),
context.Token.get(liquidityPoolAggregator.token1_id),
]);

return { liquidityPoolAggregator, token0Instance, token1Instance };
return null;
},

handler: async ({ event, context, loaderReturn }) => {
const entity: CLPool_Burn = {
id: `${event.chainId}_${event.block.number}_${event.logIndex}`,
Expand All @@ -157,35 +195,6 @@ CLPool.Burn.handlerWithLoader({
};

context.CLPool_Burn.set(entity);

if (loaderReturn) {
const { liquidityPoolAggregator, token0Instance, token1Instance } = loaderReturn;

const tokenUpdateData = updateCLPoolLiquidity(
liquidityPoolAggregator,
event,
token0Instance,
token1Instance
);

const liquidityPoolDiff = {
reserve0:
liquidityPoolAggregator.reserve0 - tokenUpdateData.reserve0,
reserve1:
liquidityPoolAggregator.reserve1 - tokenUpdateData.reserve1,
totalLiquidityUSD:
liquidityPoolAggregator.totalLiquidityUSD -
tokenUpdateData.totalLiquidityUSD,
lastUpdatedTimestamp: new Date(event.block.timestamp * 1000),
};

updateLiquidityPoolAggregator(
liquidityPoolDiff,
liquidityPoolAggregator,
liquidityPoolDiff.lastUpdatedTimestamp,
context
);
}
},
});

Expand Down Expand Up @@ -224,23 +233,31 @@ CLPool.Collect.handlerWithLoader({

context.CLPool_Collect.set(entity);

if (loaderReturn && loaderReturn.liquidityPoolAggregator) {
if (loaderReturn) {
const { liquidityPoolAggregator, token0Instance, token1Instance } = loaderReturn;

const tokenUpdateData = updateCLPoolFees(
const tokenUpdateData = updateCLPoolLiquidity(
liquidityPoolAggregator,
event,
token0Instance,
token1Instance
);

const liquidityPoolDiff = {
reserve0: liquidityPoolAggregator.reserve0 - tokenUpdateData.reserve0,
reserve1: liquidityPoolAggregator.reserve1 - tokenUpdateData.reserve1,
totalLiquidityUSD: tokenUpdateData.subTotalLiquidityUSD,
lastUpdatedTimestamp: new Date(event.block.timestamp * 1000),
};

updateLiquidityPoolAggregator(
tokenUpdateData,
liquidityPoolDiff,
liquidityPoolAggregator,
new Date(event.block.timestamp * 1000),
liquidityPoolDiff.lastUpdatedTimestamp,
context
);
}

},
});

Expand Down Expand Up @@ -387,13 +404,9 @@ CLPool.Mint.handlerWithLoader({
);

const liquidityPoolDiff = {
reserve0:
liquidityPoolAggregator.reserve0 + tokenUpdateData.reserve0,
reserve1:
liquidityPoolAggregator.reserve1 + tokenUpdateData.reserve1,
totalLiquidityUSD:
liquidityPoolAggregator.totalLiquidityUSD +
tokenUpdateData.totalLiquidityUSD,
reserve0: liquidityPoolAggregator.reserve0 + tokenUpdateData.reserve0,
reserve1: liquidityPoolAggregator.reserve1 + tokenUpdateData.reserve1,
totalLiquidityUSD: tokenUpdateData.addTotalLiquidityUSD,
lastUpdatedTimestamp: new Date(event.block.timestamp * 1000),
};

Expand Down
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