BaseJumpRateModelV2

Overview

License: MIT

contract BaseJumpRateModelV2

Author: Compound (modified by Dharma Labs, refactored by Arr00)

Version 2 modifies Version 1 by enabling updateable parameters.

Events info

NewInterestParams

event NewInterestParams(uint256 baseRatePerBlock, uint256 multiplierPerBlock, uint256 jumpMultiplierPerBlock, uint256 kink)

Emitted when the interest rate model's parameters are updated.

Parameters:

Name	Type	Description
baseRatePerBlock	uint256	The new base interest rate per block.
multiplierPerBlock	uint256	The new multiplier per block.
jumpMultiplierPerBlock	uint256	The new jump multiplier per block.
kink	uint256	The new kink value.

NewOwner

event NewOwner(address newOwner)

Emitted when the owner of the contract is updated.

Parameters:

Name	Type	Description
newOwner	address	The new owner's address.

Constants info

blocksPerYear (0xa385fb96)

uint256 constant blocksPerYear = 2102400

The approximate number of blocks per year that is assumed by the interest rate model

State variables info

owner (0x8da5cb5b)

address owner

The address of the owner, i.e. the Timelock contract, which can update parameters directly

multiplierPerBlock (0x8726bb89)

uint256 multiplierPerBlock

The multiplier of utilization rate that gives the slope of the interest rate

baseRatePerBlock (0xf14039de)

uint256 baseRatePerBlock

The base interest rate which is the y-intercept when utilization rate is 0

jumpMultiplierPerBlock (0xb9f9850a)

uint256 jumpMultiplierPerBlock

The multiplierPerBlock after hitting a specified utilization point

kink (0xfd2da339)

uint256 kink

The utilization point at which the jump multiplier is applied

Functions info

constructor

constructor(
    uint256 baseRatePerYear,
    uint256 multiplierPerYear,
    uint256 jumpMultiplierPerYear,
    uint256 kink_,
    address owner_
)

Constructs an interest rate model.

Parameters:

Name	Type	Description
baseRatePerYear	uint256	The approximate target base APR, as a mantissa (scaled by 1e18).
multiplierPerYear	uint256	The rate of increase in interest rate wrt utilization (scaled by 1e18).
jumpMultiplierPerYear	uint256	The multiplierPerBlock after hitting a specified utilization point.
kink_	uint256	The utilization point at which the jump multiplier is applied.
owner_	address	The address of the owner, i.e. the Timelock contract (which has the ability to update parameters directly).

chageOwner (0x9988642f)

function chageOwner(address _newOwner) external

Changes the owner address (only callable by previous owner).

Parameters:

Name	Type	Description
_newOwner	address	new owner address.

updateJumpRateModel (0x2037f3e7)

function updateJumpRateModel(
    uint256 baseRatePerYear,
    uint256 multiplierPerYear,
    uint256 jumpMultiplierPerYear,
    uint256 kink_
) external

Updates the parameters of the interest rate model (only callable by owner, i.e. Timelock).

Parameters:

Name	Type	Description
baseRatePerYear	uint256	The approximate target base APR, as a mantissa (scaled by 1e18).
multiplierPerYear	uint256	The rate of increase in interest rate wrt utilization (scaled by 1e18).
jumpMultiplierPerYear	uint256	The multiplierPerBlock after hitting a specified utilization point.
kink_	uint256	The utilization point at which the jump multiplier is applied.

utilizationRate (0x6e71e2d8)

function utilizationRate(
    uint256 cash,
    uint256 borrows,
    uint256 reserves
) public pure returns (uint256)

Calculates the utilization rate of the market: borrows / (cash + borrows - reserves).

Parameters:

Name	Type	Description
cash	uint256	The amount of cash in the market.
borrows	uint256	The amount of borrows in the market.
reserves	uint256	The amount of reserves in the market (currently unused).

Return values:

Name	Type	Description
[0]	uint256	The utilization rate as a mantissa between [0, 1e18].

getSupplyRate (0xb8168816)

function getSupplyRate(
    uint256 cash,
    uint256 borrows,
    uint256 reserves,
    uint256 reserveFactorMantissa
) public view virtual returns (uint256)

Calculates the current supply rate per block.

Parameters:

Name	Type	Description
cash	uint256	The amount of cash in the market.
borrows	uint256	The amount of borrows in the market.
reserves	uint256	The amount of reserves in the market.
reserveFactorMantissa	uint256	The current reserve factor for the market.

Return values:

Name	Type	Description
[0]	uint256	The supply rate percentage per block as a mantissa (scaled by 1e18).