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feat: implement naive system collateralization method #601

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36 changes: 26 additions & 10 deletions src/parachain/vaults.ts
Original file line number Diff line number Diff line change
Expand Up @@ -8,6 +8,7 @@ import {
VaultRegistrySystemVault,
InterbtcPrimitivesVaultId,
VaultRegistryVault,
InterbtcPrimitivesVaultCurrencyPair,
} from "@polkadot/types/lookup";

import {
Expand All @@ -22,6 +23,7 @@ import {
currencyIdToMonetaryCurrency,
decodeRpcVaultId,
addressOrPairAsAccountId,
storageKeyToNthInner,
} from "../utils";
import { TokensAPI } from "./tokens";
import { OracleAPI } from "./oracle";
Expand Down Expand Up @@ -85,14 +87,13 @@ export interface VaultsAPI {
newCollateral?: MonetaryAmount<CollateralCurrencyExt>,
onlyIssued?: boolean
): Promise<Big | undefined>;
// /**
// * Get the total system collateralization measured by dividing the value of issued (wrapped) tokens
// * by the value of total locked collateral.
// *
// * @returns The total system collateralization
// */
// TODO: Uncomment once implemented
// getSystemCollateralization(): Promise<Big | undefined>;
/**
* Get the total system collateralization measured by dividing the value of issued (wrapped) tokens
* by the value of total locked collateral.
*
* @returns The total system collateralization
*/
getSystemCollateralization(): Promise<Big | undefined>;
/**
* Get the amount of collateral required for the given vault to be at the
* current SecureCollateralThreshold with the current exchange rate
Expand Down Expand Up @@ -752,8 +753,23 @@ export class DefaultVaultsAPI implements VaultsAPI {
}

async getSystemCollateralization(): Promise<Big | undefined> {
// TODO: Implement once method of calculation is decided on
return Promise.resolve(undefined);
const issuedTokens = await this.tokensAPI.total(this.wrappedCurrency);
const totalCollateralEntries = await this.api.query.vaultRegistry.totalUserVaultCollateral.entries();
const totalWrappedEntries = await Promise.all(totalCollateralEntries
.map(([key, value]): [InterbtcPrimitivesVaultCurrencyPair, string] => [storageKeyToNthInner(key), value.toString()])
.map(async ([currencyPair, balance]) => {
const collateralCurrency = await currencyIdToMonetaryCurrency(
this.assetRegistryAPI,
this.loansAPI,
currencyPair.collateral
);
const collateralAmount = newMonetaryAmount(balance, collateralCurrency);
// TODO: we can probably use multiQuery for this
return this.oracleAPI.convertCollateralToWrapped(collateralAmount);
}));
const totalCollateralAsWrapped = totalWrappedEntries
.reduce((prev, curr) => prev.add(curr), newMonetaryAmount(0, this.wrappedCurrency));
return totalCollateralAsWrapped.div(issuedTokens.toBig()).toBig();
}

async getRequiredCollateralForVault(
Expand Down
6 changes: 6 additions & 0 deletions test/integration/parachain/staging/sequential/vaults.test.ts
Original file line number Diff line number Diff line change
Expand Up @@ -408,4 +408,10 @@ describe("vaultsAPI", () => {
await assertVaultStatus(vault_1_id, VaultStatusExt.Active);
}
});

it("should get system collateralization", async () => {
const value = await interBtcAPI.vaults.getSystemCollateralization();
assert.isDefined(value, "System collateralization is not defined")
assert.isTrue(value!.gt(0), "Invalid collateralization")
});
});