Update HC for Margin trade and HLS (#645)

* Update HC for Margin trade and HLS

* fix relative imports

src/components/HLS/Staking/Table/Columns/MaxLeverage.tsx

@@ -12,7 +12,7 @@ export default function MaxLeverage(props: Props) {
   return (
     <FormattedNumber
       amount={props.strategy.maxLeverage}
-      options={{ minDecimals: 2, maxDecimals: 2, suffix: 'x' }}
+      options={{ minDecimals: 2, maxDecimals: 2, suffix: 'x', prefix: '~' }}
       className='text-xs'
       animate
     />

src/components/Modals/HLS/Deposit/useStakingController.tsx

@@ -2,9 +2,12 @@ import { useCallback, useMemo } from 'react'
 
 import useDepositHlsVault from 'hooks/useDepositHlsVault'
 import useHealthComputer from 'hooks/useHealthComputer'
+import useSwapValueLoss from 'hooks/useSwapValueLoss'
 import { useUpdatedAccount } from 'hooks/useUpdatedAccount'
 import useStore from 'store'
 import { BNCoin } from 'types/classes/BNCoin'
+import { SWAP_FEE_BUFFER } from 'utils/constants'
+import { BN } from 'utils/helpers'
 
 interface Props {
   borrowAsset: Asset
@@ -16,6 +19,10 @@ export default function useStakingController(props: Props) {
   const { collateralAsset, borrowAsset, selectedAccount } = props
   const addToStakingStrategy = useStore((s) => s.addToStakingStrategy)
 
+  const { data: swapValueLoss } = useSwapValueLoss(
+    props.borrowAsset.denom,
+    props.collateralAsset.denom,
+  )
   const {
     leverage,
     setDepositAmount,
@@ -33,9 +40,13 @@ export default function useStakingController(props: Props) {
   const { computeMaxBorrowAmount } = useHealthComputer(updatedAccount)
 
   const maxBorrowAmount = useMemo(() => {
-    // TODO: Perhaps we need a specific target for this -> target = swap
-    return computeMaxBorrowAmount(props.borrowAsset.denom, 'deposit')
-  }, [computeMaxBorrowAmount, props.borrowAsset.denom])
+    return computeMaxBorrowAmount(props.borrowAsset.denom, {
+      swap: {
+        denom_out: props.collateralAsset.denom,
+        slippage: BN(swapValueLoss).plus(SWAP_FEE_BUFFER).toString(),
+      },
+    })
+  }, [computeMaxBorrowAmount, props.borrowAsset.denom, props.collateralAsset.denom, swapValueLoss])
 
   const execute = useCallback(() => {
     useStore.setState({ hlsModal: null })

src/components/Modals/HLS/Manage/ChangeLeverage.tsx

@@ -15,6 +15,7 @@ import { BNCoin } from 'types/classes/BNCoin'
 import { getAccountPositionValues } from 'utils/accounts'
 import { getHlsStakingChangeLevActions } from 'utils/actions'
 import { byDenom } from 'utils/array'
+import { SWAP_FEE_BUFFER } from 'utils/constants'
 import { getLeveragedApy } from 'utils/math'
 import { getDepositCapMessage, getHealthFactorMessage, getLiquidityMessage } from 'utils/messages'
 
@@ -45,8 +46,13 @@ export default function ChangeLeverage(props: Props) {
 
   const [currentDebt, setAmount] = useState(previousDebt)
   const maxBorrowAmount = useMemo(() => {
-    return computeMaxBorrowAmount(props.borrowAsset.denom, 'deposit').plus(previousDebt)
-  }, [computeMaxBorrowAmount, previousDebt, props.borrowAsset.denom])
+    return computeMaxBorrowAmount(props.borrowAsset.denom, {
+      swap: {
+        denom_out: props.collateralAsset.denom,
+        slippage: SWAP_FEE_BUFFER.toString(),
+      },
+    }).plus(previousDebt)
+  }, [computeMaxBorrowAmount, previousDebt, props.borrowAsset.denom, props.collateralAsset.denom])
 
   const onChangeAmount = useCallback(
     (currentDebt: BigNumber) => {

src/components/Trade/TradeModule/SwapForm/index.tsx

@@ -14,7 +14,7 @@ import { AvailableOrderType } from 'components/Trade/TradeModule/SwapForm/OrderT
 import TradeSummary from 'components/Trade/TradeModule/SwapForm/TradeSummary'
 import { DEFAULT_SETTINGS } from 'constants/defaultSettings'
 import { LocalStorageKeys } from 'constants/localStorageKeys'
-import { BN_ZERO, MARGIN_TRADE_BUFFER } from 'constants/math'
+import { BN_ZERO } from 'constants/math'
 import useAutoLend from 'hooks/useAutoLend'
 import useCurrentAccount from 'hooks/useCurrentAccount'
 import useHealthComputer from 'hooks/useHealthComputer'
@@ -114,9 +114,11 @@ export default function SwapForm(props: Props) {
 
   const [maxSellAmount, sellSideMarginThreshold, marginRatio] = useMemo(() => {
     const maxAmount = computeMaxSwapAmount(sellAsset.denom, buyAsset.denom, 'default')
-    const maxAmountOnMargin = computeMaxSwapAmount(sellAsset.denom, buyAsset.denom, 'margin')
-      .multipliedBy(MARGIN_TRADE_BUFFER)
-      .integerValue()
+    const maxAmountOnMargin = computeMaxSwapAmount(
+      sellAsset.denom,
+      buyAsset.denom,
+      'margin',
+    ).integerValue()
     const marginRatio = maxAmount.dividedBy(maxAmountOnMargin)
 
     estimateExactIn(

src/constants/math.ts

@@ -3,7 +3,6 @@ import { BN } from 'utils/helpers'
 export const BN_ZERO = BN(0)
 export const BN_ONE = BN(1)
 
-export const MARGIN_TRADE_BUFFER = 0.9
 export const MIN_AMOUNT = 0.000001
 export const MAX_AMOUNT_DECIMALS = 6
 

src/hooks/HLS/useClosePositionActions.ts

@@ -1,3 +1,4 @@
+import BigNumber from 'bignumber.js'
 import { useMemo } from 'react'
 
 import { DEFAULT_SETTINGS } from 'constants/defaultSettings'
@@ -5,8 +6,10 @@ import { LocalStorageKeys } from 'constants/localStorageKeys'
 import { BN_ZERO } from 'constants/math'
 import useLocalStorage from 'hooks/useLocalStorage'
 import usePrices from 'hooks/usePrices'
+import useSwapValueLoss from 'hooks/useSwapValueLoss'
 import { BNCoin } from 'types/classes/BNCoin'
 import { Action } from 'types/generated/mars-credit-manager/MarsCreditManager.types'
+import { SWAP_FEE_BUFFER } from 'utils/constants'
 import { getCoinAmount, getCoinValue } from 'utils/formatters'
 
 interface Props {
@@ -16,9 +19,9 @@ interface Props {
 export default function UseClosePositionActions(props: Props): Action[] {
   const [slippage] = useLocalStorage<number>(LocalStorageKeys.SLIPPAGE, DEFAULT_SETTINGS.slippage)
   const { data: prices } = usePrices()
-
   const collateralDenom = props.account.strategy.denoms.deposit
   const borrowDenom = props.account.strategy.denoms.borrow
+  const { data: swapValueLoss } = useSwapValueLoss(collateralDenom, borrowDenom)
 
   const debtAmount: BigNumber = useMemo(
     () =>
@@ -27,12 +30,23 @@ export default function UseClosePositionActions(props: Props): Action[] {
     [props.account.debts, props.account.strategy.denoms.borrow],
   )
 
+  const collateralAmount: BigNumber = useMemo(
+    () =>
+      props.account.deposits.find(
+        (deposit) => deposit.denom === props.account.strategy.denoms.deposit,
+      )?.amount || BN_ZERO,
+    [props.account.deposits, props.account.strategy.denoms.deposit],
+  )
+
   const swapInAmount = useMemo(() => {
     const targetValue = getCoinValue(BNCoin.fromDenomAndBigNumber(borrowDenom, debtAmount), prices)
-    return getCoinAmount(collateralDenom, targetValue, prices)
-      .times(1 + slippage)
-      .integerValue()
-  }, [slippage, borrowDenom, debtAmount, prices, collateralDenom])
+    return BigNumber.max(
+      getCoinAmount(collateralDenom, targetValue, prices)
+        .times(1 + slippage + SWAP_FEE_BUFFER + swapValueLoss)
+        .integerValue(),
+      collateralAmount,
+    )
+  }, [borrowDenom, debtAmount, prices, slippage, swapValueLoss, collateralDenom, collateralAmount])
 
   return useMemo<Action[]>(
     () => [
@@ -48,7 +62,10 @@ export default function UseClosePositionActions(props: Props): Action[] {
             },
             {
               repay: {
-                coin: BNCoin.fromDenomAndBigNumber(borrowDenom, debtAmount).toActionCoin(),
+                coin: BNCoin.fromDenomAndBigNumber(
+                  borrowDenom,
+                  debtAmount.times(1.0001).integerValue(), // Over pay to by-pass increase in debt
+                ).toActionCoin(),
               },
             },
           ]),

src/hooks/useDepositHlsVault.ts

@@ -5,8 +5,10 @@ import { LocalStorageKeys } from 'constants/localStorageKeys'
 import { BN_ZERO } from 'constants/math'
 import useLocalStorage from 'hooks/useLocalStorage'
 import usePrices from 'hooks/usePrices'
+import useSwapValueLoss from 'hooks/useSwapValueLoss'
 import { BNCoin } from 'types/classes/BNCoin'
 import { Action } from 'types/generated/mars-credit-manager/MarsCreditManager.types'
+import { SWAP_FEE_BUFFER } from 'utils/constants'
 import { getCoinValue } from 'utils/formatters'
 
 interface Props {
@@ -17,6 +19,8 @@ export default function useDepositHlsVault(props: Props) {
   const { data: prices } = usePrices()
   const [slippage] = useLocalStorage<number>(LocalStorageKeys.SLIPPAGE, DEFAULT_SETTINGS.slippage)
 
+  const { data: valueLossPercentage } = useSwapValueLoss(props.borrowDenom, props.collateralDenom)
+
   const [depositAmount, setDepositAmount] = useState<BigNumber>(BN_ZERO)
   const [borrowAmount, setBorrowAmount] = useState<BigNumber>(BN_ZERO)
 
@@ -42,9 +46,24 @@ export default function useDepositHlsVault(props: Props) {
 
     return {
       positionValue: collateralValue.plus(borrowValue),
-      leverage: borrowValue.dividedBy(collateralValue).plus(1).toNumber() || 1,
+      leverage:
+        borrowValue
+          .dividedBy(
+            collateralValue
+              .plus(borrowValue.times(1 - valueLossPercentage - SWAP_FEE_BUFFER))
+              .minus(borrowValue),
+          )
+          .plus(1)
+          .toNumber() || 1,
     }
-  }, [borrowAmount, depositAmount, prices, props.collateralDenom, props.borrowDenom])
+  }, [
+    props.collateralDenom,
+    props.borrowDenom,
+    depositAmount,
+    prices,
+    borrowAmount,
+    valueLossPercentage,
+  ])
 
   const actions: Action[] = useMemo(
     () => [

src/hooks/useHealthComputer.tsx

@@ -1,7 +1,10 @@
 import { useCallback, useEffect, useMemo, useState } from 'react'
 
+import { DEFAULT_SETTINGS } from 'constants/defaultSettings'
+import { LocalStorageKeys } from 'constants/localStorageKeys'
 import { BN_ZERO } from 'constants/math'
 import useAssetParams from 'hooks/useAssetParams'
+import useLocalStorage from 'hooks/useLocalStorage'
 import usePrices from 'hooks/usePrices'
 import useVaultConfigs from 'hooks/useVaultConfigs'
 import {
@@ -15,7 +18,7 @@ import {
 } from 'types/generated/mars-rover-health-computer/MarsRoverHealthComputer.types'
 import { convertAccountToPositions } from 'utils/accounts'
 import { getAssetByDenom } from 'utils/assets'
-import { LTV_BUFFER } from 'utils/constants'
+import { SWAP_FEE_BUFFER } from 'utils/constants'
 import {
   BorrowTarget,
   compute_health_js,
@@ -24,7 +27,7 @@ import {
   max_withdraw_estimate_js,
   SwapKind,
 } from 'utils/health_computer'
-import { BN } from 'utils/helpers' // Pyth returns prices with up to 32 decimals. Javascript only supports 18 decimals. So we need to scale by 14 t
+import { BN } from 'utils/helpers'
 
 // Pyth returns prices with up to 32 decimals. Javascript only supports 18 decimals. So we need to scale by 14 t
 // avoid "too many decimals" errors.
@@ -34,6 +37,7 @@ export default function useHealthComputer(account?: Account) {
   const { data: prices } = usePrices()
   const { data: assetParams } = useAssetParams()
   const { data: vaultConfigs } = useVaultConfigs()
+  const [slippage] = useLocalStorage<number>(LocalStorageKeys.SLIPPAGE, DEFAULT_SETTINGS.slippage)
 
   const [healthFactor, setHealthFactor] = useState(0)
   const positions: Positions | null = useMemo(() => {
@@ -147,9 +151,7 @@ export default function useHealthComputer(account?: Account) {
     (denom: string, target: BorrowTarget) => {
       if (!healthComputer) return BN_ZERO
       try {
-        return BN(max_borrow_estimate_js(healthComputer, denom, target))
-          .multipliedBy(LTV_BUFFER)
-          .integerValue()
+        return BN(max_borrow_estimate_js(healthComputer, denom, target)).integerValue()
       } catch (err) {
         console.error(err)
         return BN_ZERO
@@ -175,12 +177,20 @@ export default function useHealthComputer(account?: Account) {
     (from: string, to: string, kind: SwapKind) => {
       if (!healthComputer) return BN_ZERO
       try {
-        return BN(max_swap_estimate_js(healthComputer, from, to, kind))
+        return BN(
+          max_swap_estimate_js(
+            healthComputer,
+            from,
+            to,
+            kind,
+            BN(slippage).plus(SWAP_FEE_BUFFER).toString(),
+          ),
+        )
       } catch {
         return BN_ZERO
       }
     },
-    [healthComputer],
+    [healthComputer, slippage],
   )
   const health = useMemo(() => {
     const convertedHealth = BN(Math.log(healthFactor))

src/hooks/usePrice.tsx

@@ -1,7 +1,8 @@
+import { BN_ZERO } from 'constants/math'
 import usePrices from 'hooks/usePrices'
 
 export default function usePrice(denom: string) {
   const { data: prices } = usePrices()
 
-  return prices.find((coin) => coin.denom === denom)?.amount ?? 0
+  return prices.find((coin) => coin.denom === denom)?.amount ?? BN_ZERO
 }

src/hooks/useSwapValueLoss.ts

@@ -0,0 +1,35 @@
+import BigNumber from 'bignumber.js'
+import useSWR from 'swr'
+
+import estimateExactIn from 'api/swap/estimateExactIn'
+import usePrice from 'hooks/usePrice'
+import { BNCoin } from 'types/classes/BNCoin'
+import { SWAP_FEE_BUFFER } from 'utils/constants'
+import { BN } from 'utils/helpers'
+
+const amountIn = 1000_000_000
+
+export default function useSwapValueLoss(denomIn: string, denomOut: string) {
+  const denomInPrice = usePrice(denomIn)
+  const denomOutPrice = usePrice(denomOut)
+
+  return useSWR(
+    `swapValueLoss/${denomIn}/${denomOut}`,
+    async () => {
+      const valueIn = denomInPrice.times(amountIn)
+      const amountOut = await estimateExactIn(
+        BNCoin.fromDenomAndBigNumber(denomIn, BN(amountIn)).toCoin(),
+        denomOut,
+      )
+      const valueOut = denomOutPrice.times(amountOut)
+
+      return BigNumber.max(
+        valueIn.minus(valueOut).dividedBy(valueIn).decimalPlaces(6),
+        0,
+      ).toNumber()
+    },
+    {
+      fallbackData: SWAP_FEE_BUFFER,
+    },
+  )
+}

src/hooks/useUpdatedAccount/index.ts

@@ -16,6 +16,7 @@ import useStore from 'store'
 import { BNCoin } from 'types/classes/BNCoin'
 import { calculateAccountLeverage, cloneAccount } from 'utils/accounts'
 import { byDenom } from 'utils/array'
+import { SWAP_FEE_BUFFER } from 'utils/constants'
 import { getCoinAmount, getCoinValue } from 'utils/formatters'
 import { getValueFromBNCoins } from 'utils/helpers'
 
@@ -184,6 +185,8 @@ export function useUpdatedAccount(account?: Account) {
       const additionalDebtValue = getCoinValue(borrowCoin, prices)
 
       const tradeOutputAmount = getCoinAmount(depositCoin.denom, additionalDebtValue, prices)
+        .times(1 - SWAP_FEE_BUFFER)
+        .integerValue()
       addTrades([BNCoin.fromDenomAndBigNumber(depositCoin.denom, tradeOutputAmount)])
     },
     [prices],
@@ -193,6 +196,8 @@ export function useUpdatedAccount(account?: Account) {
     (collateralDenom: string, debtDenom: string, repayAmount: BigNumber) => {
       const repayValue = getCoinValue(BNCoin.fromDenomAndBigNumber(debtDenom, repayAmount), prices)
       const removeDepositAmount = getCoinAmount(collateralDenom, repayValue, prices)
+        .times(1 + slippage)
+        .integerValue()
       removeDeposits([BNCoin.fromDenomAndBigNumber(collateralDenom, removeDepositAmount)])
       removeDebts([BNCoin.fromDenomAndBigNumber(debtDenom, repayAmount)])
     },

src/utils/constants.ts

@@ -9,12 +9,9 @@ export const defaultFee: StdFee = {
 }
 
 export const SECONDS_IN_A_YEAR = 31540000
-
-export const LTV_BUFFER = 0.99
-
 export const DEPOSIT_CAP_BUFFER = 0.999
 export const VAULT_DEPOSIT_BUFFER = 0.999
-
+export const SWAP_FEE_BUFFER = 0.005
 export const DEFAULT_PORTFOLIO_STATS = [
   { title: null, sub: 'Total Balance' },
   { title: null, sub: 'Total Debt' },
@@ -24,3 +21,4 @@ export const DEFAULT_PORTFOLIO_STATS = [
 ]
 
 export const ENABLE_HLS = false
+export const ENABLE_PERPS = false

src/utils/health_computer/index.d.ts

@@ -27,6 +27,7 @@ export function max_borrow_estimate_js(
  * @param {string} from_denom
  * @param {string} to_denom
  * @param {SwapKind} kind
+ * @param {Slippage} slippage
  * @returns {string}
  */
 export function max_swap_estimate_js(
@@ -34,6 +35,7 @@ export function max_swap_estimate_js(
   from_denom: string,
   to_denom: string,
   kind: SwapKind,
+  slippage: Slippage,
 ): string
 export interface HealthComputer {
   kind: AccountKind
@@ -53,9 +55,15 @@ export interface HealthValuesResponse {
   above_max_ltv: boolean
 }
 
+export type Slippage = Decimal
+
 export type SwapKind = 'default' | 'margin'
 
-export type BorrowTarget = 'deposit' | 'wallet' | { vault: { address: Addr } }
+export type BorrowTarget =
+  | 'deposit'
+  | 'wallet'
+  | { vault: { address: Addr } }
+  | { swap: { denom_out: string; slippage: Decimal } }
 
 export type InitInput = RequestInfo | URL | Response | BufferSource | WebAssembly.Module
 
@@ -72,6 +80,7 @@ export interface InitOutput {
     e: number,
     f: number,
     g: number,
+    h: number,
   ) => void
   readonly allocate: (a: number) => number
   readonly deallocate: (a: number) => void

src/utils/health_computer/index.js

@@ -197,9 +197,10 @@ export function max_borrow_estimate_js(c, borrow_denom, target) {
  * @param {string} from_denom
  * @param {string} to_denom
  * @param {SwapKind} kind
+ * @param {Slippage} slippage
  * @returns {string}
  */
-export function max_swap_estimate_js(c, from_denom, to_denom, kind) {
+export function max_swap_estimate_js(c, from_denom, to_denom, kind, slippage) {
   let deferred3_0
   let deferred3_1
   try {
@@ -208,7 +209,16 @@ export function max_swap_estimate_js(c, from_denom, to_denom, kind) {
     const len0 = WASM_VECTOR_LEN
     const ptr1 = passStringToWasm0(to_denom, wasm.__wbindgen_malloc, wasm.__wbindgen_realloc)
     const len1 = WASM_VECTOR_LEN
-    wasm.max_swap_estimate_js(retptr, addHeapObject(c), ptr0, len0, ptr1, len1, addHeapObject(kind))
+    wasm.max_swap_estimate_js(
+      retptr,
+      addHeapObject(c),
+      ptr0,
+      len0,
+      ptr1,
+      len1,
+      addHeapObject(kind),
+      addHeapObject(slippage),
+    )
     var r0 = getInt32Memory0()[retptr / 4 + 0]
     var r1 = getInt32Memory0()[retptr / 4 + 1]
     deferred3_0 = r0

src/utils/health_computer/index_bg.wasm.d.ts

@@ -12,6 +12,7 @@ export function max_swap_estimate_js(
   e: number,
   f: number,
   g: number,
+  h: number,
 ): void
 export function allocate(a: number): number
 export function deallocate(a: number): void