JumpRateModelV3

Overview

License: MIT

contract JumpRateModelV3 is Initializable, InterestRateModel, AccessControlUpgradeable

V3 interest rate Model.

Structs info

BlendingTokenInfo

struct BlendingTokenInfo {
	uint256 gainPerBlock;
	uint256 jumGainPerBlock;
	uint256 targetUtil;
}

RateInfo

struct RateInfo {
	uint256 lastInterestRate;
	uint256 lastAccrualBlockNumber;
	uint256 maxBorrowRate;
}

Events info

NewInterestParams

event NewInterestParams(uint256 gainPerBlock, uint256 jumGainPerBlock, uint256 targetUtil)

Emitted when the owner of the interest rate model is updated.

Parameters:

Name	Type	Description
gainPerBlock	uint256	The new gainPerBlock.
jumGainPerBlock	uint256	The new jumGainPerBlock.
targetUtil	uint256	The new targetUtil.

NewOwner

event NewOwner(address newOwner)

Emitted when the owner of the contract is updated.

Parameters:

Name	Type	Description
newOwner	address	The address of the new owner.

NewInterest

event NewInterest(uint256 appliedBlock, uint256 interestRate)

Emitted when a new interest rate is set.

Parameters:

Name	Type	Description
appliedBlock	uint256	The block number at which the interest rate was applied.
interestRate	uint256	The new interest rate.

Constants info

MODERATOR_ROLE (0x797669c9)

bytes32 constant MODERATOR_ROLE = keccak256("MODERATOR_ROLE")

State variables info

blocksPerYear (0xa385fb96)

uint256 blocksPerYear

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

blendingTokenInfo (0x582d785a)

mapping(address => struct JumpRateModelV3.BlendingTokenInfo) blendingTokenInfo

rateInfo (0x3a86fb41)

mapping(address => struct JumpRateModelV3.RateInfo) rateInfo

isBlendingTokenSupport (0xb7979487)

mapping(address => bool) isBlendingTokenSupport

Modifiers info

onlyBlendingToken

modifier onlyBlendingToken()

Modifier to restrict access to only the blending token contract.

onlyAdmin

modifier onlyAdmin()

Modifier to check if the caller is the default admin role.

onlyModerator

modifier onlyModerator()

Modifier to check if the caller has the moderator role.

Functions info

initialize (0xfe4b84df)

function initialize(uint256 blocksPerYear_) public initializer

Constructs an interest rate model.

Parameters:

Name	Type	Description
blocksPerYear_	uint256	Number of blocks in a year for compounding.

grantModerator (0x6981c7ae)

function grantModerator(address newModerator) public onlyAdmin

Grants the MODERATOR_ROLE to a new address. The caller must have the ADMIN_ROLE.

Parameters:

Name	Type	Description
newModerator	address	The address to grant the role to.

revokeModerator (0x36445636)

function revokeModerator(address moderator) public onlyAdmin

Revokes the moderator role from the specified address. The caller must have the admin role.

Parameters:

Name	Type	Description
moderator	address	The address of the moderator to revoke the role from.

updateJumpRateModel (0x10b86276)

function updateJumpRateModel(
    uint256 gainPerYear,
    uint256 jumGainPerYear,
    uint256 targetUtil_,
    address blendingToken
) external onlyModerator

Updates the parameters of the interest rate model (only callable by owner, i.e. Timelock). Only the contract moderator can call this function.

Parameters:

Name	Type	Description
gainPerYear	uint256	The rate of increase in interest rate wrt utilization (scaled by 1e18).
jumGainPerYear	uint256	The jumGainPerBlock after hitting a specified utilization point.
targetUtil_	uint256	The utilization point at which the jump multiplier is applied.

setBlockPerYear (0x03700d6b)

function setBlockPerYear(uint256 blocksPerYear_) external onlyModerator

Sets the number of blocks per year for the JumpRateModelV3 contract. Only the contract moderator can call this function.

Parameters:

Name	Type	Description
blocksPerYear_	uint256	The new number of blocks per year.

addBLendingTokenSupport (0xf9828944)

function addBLendingTokenSupport(
    address blendingToken,
    uint256 gainPerYear,
    uint256 jumGainPerYear,
    uint256 targetUtil_,
    uint256 newMaxBorrow
) external onlyModerator

Adds support for a new blending token to the JumpRateModelV3 contract.

Requirements:

• blendingToken cannot be the zero address.

• Only the contract moderator can call this function.

Parameters:

Name	Type	Description
blendingToken	address	The address of the blending token to add support for.
gainPerYear	uint256	The gain per year for the blending token.
jumGainPerYear	uint256	The jump gain per year for the blending token.
targetUtil_	uint256	The target utilization rate for the blending token.
newMaxBorrow	uint256	The new maximum borrow rate for the blending token.

removeBLendingTokenSupport (0xff60fb68)

function removeBLendingTokenSupport(address _blending) external onlyModerator

Removes blending token support for the specified blending token address.

Requirements:

• _blending cannot be the zero address.

• _blending must be a supported blending token.

Parameters:

Name	Type	Description
_blending	address	The address of the blending token to remove support for.

setMaxBorrowRate (0xa8801029)

function setMaxBorrowRate(
    address blendingToken,
    uint256 newMaxBorrow
) external onlyModerator

Sets the maximum borrow rate for a blending token.

Requirements:

• The caller must have the onlyModerator modifier.

• The blending token must be supported by the contract.

Parameters:

Name	Type	Description
blendingToken	address	The address of the blending token.
newMaxBorrow	uint256	The new maximum borrow rate to be set.

updateBlockNumber (0x938c9cf6)

function updateBlockNumber(address blendingToken) public onlyModerator

Updates the block number for a given blending token.

Requirements:

• The caller must have the onlyModerator modifier.

• The blending token must be supported.

Parameters:

Name	Type	Description
blendingToken	address	The address of the blending token to update.

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].

getInterestRateChange (0x86959d81)

function getInterestRateChange(
    uint256 cash,
    uint256 borrows,
    uint256 reserves,
    address blendingToken
) public view returns (int256)

Calculates the change in the interest rate per block 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.

Return values:

Name	Type	Description
[0]	int256	The change in the interest rate per block per block as a mantissa (scaled by 1e18).

getBlockNumber (0x42cbb15c)

function getBlockNumber() public view returns (uint256)

Function to simply retrieve block number. This exists mainly for inheriting test contracts to stub this result.

storeBorrowRate (0x5eeaafea)

function storeBorrowRate(
    uint256 cash,
    uint256 borrows,
    uint256 reserves
) public override onlyBlendingToken returns (uint256)

Calculates and stores the current borrow interest rate per block for the specified blending token.

Parameters:

Name	Type	Description
cash	uint256	The total amount of cash the market has.
borrows	uint256	The total amount of borrows the market has outstanding.
reserves	uint256	The total amount of reserves the market has.

Return values:

Name	Type	Description
[0]	uint256	The calculated borrow rate per block, represented as a percentage and scaled by 1e18.

getSupplyRate (0x32dc9b1c)

function getSupplyRate(
    uint256 cash,
    uint256 borrows,
    uint256 reserves,
    uint256 reserveFactorMantissa,
    address blendingToken
) public view override 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).

getBorrowRate (0x89469df9)

function getBorrowRate(
    uint256 cash,
    uint256 borrows,
    uint256 reserves,
    address blendingToken
) external view override returns (uint256)

Calculates the current borrow 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.

Return values:

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