PrimaryLendingPlatformLiquidationCore

Overview

License: MIT

abstract contract PrimaryLendingPlatformLiquidationCore is Initializable, AccessControlUpgradeable, ReentrancyGuardUpgradeable

Core contract for liquidating loans on the PrimaryLendingPlatform.

Abstract contract that allows users to liquidate loans.

Structs info

Ratio

struct Ratio {
	uint8 numerator;
	uint8 denominator;
}

MaxLAParams

struct MaxLAParams {
	uint256 numeratorMaxLA;
	uint256 denominatorMaxLA;
	uint256 calculatedMaxLA;
	uint256 maxLACompare;
}

Events info

Liquidate

event Liquidate(address indexed liquidator, address indexed borrower, address lendingToken, address indexed prjAddress, uint256 amountPrjLiquidated)

Emitted when a liquidation occurs.

Parameters:

Name	Type	Description
liquidator	address	The address of the account that initiates the liquidation.
borrower	address	The address of the borrower whose position is being liquidated.
lendingToken	address	The address of the token being used for lending.
prjAddress	address	The address of the project being liquidated.
amountPrjLiquidated	uint256	The amount of the project's tokens being liquidated.

SetPrimaryLendingPlatform

event SetPrimaryLendingPlatform(address indexed newPrimaryLendingPlatform)

Emitted when the primary lending platform address is set.

Parameters:

Name	Type	Description
newPrimaryLendingPlatform	address	The new primary lending platform address.

SetMinPartialLiquidationAmount

event SetMinPartialLiquidationAmount(uint256 indexed newAmount)

Emitted when the minimum amount for partial liquidation is set.

Parameters:

Name	Type	Description
newAmount	uint256	The new minimum amount for partial liquidation.

SetMaxLRF

event SetMaxLRF(uint8 indexed numeratorLRF, uint8 indexed denominatorLRF)

Emitted when the maximum Liquidation Reserve Factor (LRF) is set.

Parameters:

Name	Type	Description
numeratorLRF	uint8	The numerator of the LRF fraction.
denominatorLRF	uint8	The denominator of the LRF fraction.

SetLiquidatorRewardCalculationFactor

event SetLiquidatorRewardCalculationFactor(uint8 indexed numeratorLRF, uint8 indexed denominatorLRF)

Emitted when the liquidator reward calculation factor is set.

Parameters:

Name	Type	Description
numeratorLRF	uint8	The numerator of the liquidator reward calculation factor.
denominatorLRF	uint8	The denominator of the liquidator reward calculation factor.

SetTargetHealthFactor

event SetTargetHealthFactor(uint8 numeratorHF, uint8 denominatorHF)

Emitted when the target health factor is set.

Parameters:

Name	Type	Description
numeratorHF	uint8	The numerator of the target health factor.
denominatorHF	uint8	The denominator of the target health factor.

SetExchangeAggregator

event SetExchangeAggregator(address indexed exchangeAggregator, address indexed registryAggregator)

Emitted when the exchange aggregator and registry aggregator addresses are set.

Parameters:

Name	Type	Description
exchangeAggregator	address	The address of the exchange aggregator.
registryAggregator	address	The address of the registry aggregator.

Constants info

MODERATOR_ROLE (0x797669c9)

bytes32 constant MODERATOR_ROLE = keccak256("MODERATOR_ROLE")

LIQUIDATOR_REWARD_FACTOR_DECIMAL (0x150f2191)

uint256 constant LIQUIDATOR_REWARD_FACTOR_DECIMAL = 18

BUFFER_PERCENTAGE (0x952038c2)

uint16 constant BUFFER_PERCENTAGE = 500

State variables info

minPartialLiquidationAmount (0x802937ac)

uint256 minPartialLiquidationAmount

targetHealthFactor (0x254cf439)

struct PrimaryLendingPlatformLiquidationCore.Ratio targetHealthFactor

liquidatorRewardCalcFactor (0xc9fd7f25)

struct PrimaryLendingPlatformLiquidationCore.Ratio liquidatorRewardCalcFactor

maxLRF (0x83958352)

struct PrimaryLendingPlatformLiquidationCore.Ratio maxLRF

primaryLendingPlatform (0x92641a7c)

contract IPrimaryLendingPlatform primaryLendingPlatform

exchangeAggregator (0x60df4f35)

address exchangeAggregator

registryAggregator (0xf38cb29a)

address registryAggregator

Modifiers info

onlyModerator

modifier onlyModerator()

Modifier that only allows access to accounts with the MODERATOR_ROLE.

isProjectTokenListed

modifier isProjectTokenListed(address _projectToken)

Modifier that only allows access to project tokens that are listed on the PrimaryLendingPlatform.

Parameters:

Name	Type	Description
_projectToken	address	The address of the project token.

isLendingTokenListed

modifier isLendingTokenListed(address _lendingToken)

Modifier that only allows access to lending tokens that are listed on the PrimaryLendingPlatform.

Parameters:

Name	Type	Description
_lendingToken	address	The address of the lending token.

onlyRelatedContracts

modifier onlyRelatedContracts()

Modifier that only allows access to related contracts of the PrimaryLendingPlatform.

Functions info

initialize (0xc4d66de8)

function initialize(address pit) public initializer

Initializes the contract with the provided PIT address.

Sets up initial roles, initializes AccessControl, and sets the provided PIT address.

Parameters:

Name	Type	Description
pit	address	The address of the PrimaryLendingPlatform contract.

setMinPartialLiquidationAmount (0x35f67981)

function setMinPartialLiquidationAmount(
    uint256 newAmount
) external onlyModerator

Sets the minimum partial liquidation amount. Can only be called by accounts with the MODERATOR_ROLE.

Parameters:

Name	Type	Description
newAmount	uint256	The minimum partial liquidation amount.

setMaxLRF (0x1ed95f01)

function setMaxLRF(
    uint8 numeratorLRF,
    uint8 denominatorLRF
) external onlyModerator

Sets the maximum Liquidation Reserve Factor (LRF) that can be used for liquidation.

Requirements:

• The denominator must not be zero.

• Only the moderator can call this function.

Parameters:

Name	Type	Description
numeratorLRF	uint8	The numerator of the LRF ratio.
denominatorLRF	uint8	The denominator of the LRF ratio.

setLiquidatorRewardCalculationFactor (0x3495b179)

function setLiquidatorRewardCalculationFactor(
    uint8 numeratorLRF,
    uint8 denominatorLRF
) external onlyModerator

Sets the liquidator reward calculation factor.

Requirements:

• The caller must have the MODERATOR_ROLE role.

• The denominatorLRF cannot be zero.

Parameters:

Name	Type	Description
numeratorLRF	uint8	The numerator of the liquidator reward calculation factor.
denominatorLRF	uint8	The denominator of the liquidator reward calculation factor.

setPrimaryLendingPlatformAddress (0xcec5a0b0)

function setPrimaryLendingPlatformAddress(
    address newPrimaryLendingPlatform
) external onlyModerator

Sets the address of the primary lending platform contract.

Requirements:

• Only the moderator can call this function.

• The new primary lending platform address must not be the zero address.

Parameters:

Name	Type	Description
newPrimaryLendingPlatform	address	The address of the new primary lending platform contract.

setTargetHealthFactor (0xffac9b50)

function setTargetHealthFactor(
    uint8 numeratorHF,
    uint8 denominatorHF
) external onlyModerator

Sets the target health factor.

Requirements:

• Only the moderator can call this function.

• The denominatorHF cannot be zero.

Parameters:

Name	Type	Description
numeratorHF	uint8	The numerator for the target health factor.
denominatorHF	uint8	The denominator for the target health factor.

setExchangeAggregator (0x3c4841b4)

function setExchangeAggregator(
    address exchangeAggregatorAddress,
    address registryAggregatorAddress
) external onlyModerator

Updates the Exchange Aggregator contract and registry contract addresses.

Requirements:

• The caller must be the moderator.

• exchangeAggregatorAddress must not be the zero address.

• registryAggregatorAddress must be a valid Augustus contract if it is not the zero address.

Parameters:

Name	Type	Description
exchangeAggregatorAddress	address	The new address of the Exchange Aggregator contract.
registryAggregatorAddress	address	The new address of the Aggregator registry contract.

getCurrentHealthFactor (0xb398f0e7)

function getCurrentHealthFactor(
    address _account,
    address _projectToken,
    address _lendingToken
)
    public
    view
    returns (uint256 healthFactorNumerator, uint256 healthFactorDenominator)

Gets the current health factor of a specific account's position.

Parameters:

Name	Type	Description
_account	address	The address of the account.
_projectToken	address	The address of the project token.
_lendingToken	address	The address of the lending token.

Return values:

Name	Type	Description
healthFactorNumerator	uint256	The numerator of the health factor.
healthFactorDenominator	uint256	The denominator of the health factor.

getCurrentOutstanding (0x9bfeb5d5)

function getCurrentOutstanding(
    address _account,
    address _projectToken,
    address _lendingToken
) public view returns (uint256)

Gets the current outstanding amount of a specific account's position.

Parameters:

Name	Type	Description
_account	address	The address of the account.
_projectToken	address	The address of the project token.
_lendingToken	address	The address of the lending token.

Return values:

Name	Type	Description
[0]	uint256	currentOutstanding The current outstanding amount of the account's position.

getTokenPrice (0xc9f7153c)

function getTokenPrice(
    address token,
    uint256 amount
) public view returns (uint256 collateralPrice, uint256 capitalPrice)

Gets the price of a token in USD.

Parameters:

Name	Type	Description
token	address	The address of the token.
amount	uint256	The amount of the token.

Return values:

Name	Type	Description
collateralPrice	uint256	The price of the token in USD.
capitalPrice	uint256	The price of the token in USD.

liquidatorRewardFactor (0x894c4d5b)

function liquidatorRewardFactor(
    address _account,
    address _projectToken,
    address _lendingToken
) public view returns (uint256 lrfNumerator, uint256 lrfDenominator)

Calculates the liquidator reward factor (LRF) for a given position.

Formula: LRF = (1 + (1 - HF) * k)

Parameters:

Name	Type	Description
_account	address	The address of the borrower whose position is being considered.
_projectToken	address	The address of the project token.
_lendingToken	address	The address of the lending token.

Return values:

Name	Type	Description
lrfNumerator	uint256	The numerator of the liquidator reward factor.
lrfDenominator	uint256	The denominator of the liquidator reward factor.

getMaxLiquidationAmount (0x7da157b9)

function getMaxLiquidationAmount(
    address account,
    address projectToken,
    address lendingToken
) public view returns (uint256 maxLA)

Calculates the maximum liquidation amount (MaxLA) for a given position.

Formula: MaxLA = (LVR * CVc - THF * LVc) / (LRF * LVR - THF)

Parameters:

Name	Type	Description
account	address	The address of the borrower whose position is being considered.
projectToken	address	The address of the project token.
lendingToken	address	The address of the lending token.

Return values:

Name	Type	Description
maxLA	uint256	The maximum liquidation amount in the lending token.

getLiquidationAmount (0x90edd058)

function getLiquidationAmount(
    address _account,
    address _projectToken,
    address _lendingToken
) public view returns (uint256 maxLA, uint256 minLA)

Returns the minimum and maximum liquidation amount for a given account, project token, and lending token.

Formula:

• MinLA = min(MaxLA, MPA)

• MaxLA = (LVR * CVc - THF * LVc) / (LRF * LVR - THF)

Parameters:

Name	Type	Description
_account	address	The account for which to calculate the liquidation amount.
_projectToken	address	The project token address.
_lendingToken	address	The lending token address.

Return values:

Name	Type	Description
maxLA	uint256	The maximum liquidation amount.
minLA	uint256	The minimum liquidation amount.