Liquid Insurance Fund #238
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This commit introduces a new feature to marginfi, an ability to create and interact with a liquid insurance pool that is integrated with a bank's insurance vault. Each liquid insurance pool offers a mint token which represents shares in the pool. Users can deposit and withdraw from the pool. Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
account data Signed-off-by: Denton X <[email protected]>
shares Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
withdraws Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
Signed-off-by: Denton X <[email protected]>
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This PR introduces Liquid Insurance Funds to marginfi, allowing users to generate yield from liquidations and improving system robustness.
The following instructions are introduced:
Create a LIF for an existing bank. If there are any existing deposits, new shares are created for the admin.
2)Create user LIF account
3)User deposit into LIF
User withdraw request
User withdraw claim
The following instructions are changed:
If there is a LIF present, the group admin can only withdraw the corresponding value of their admin shares.
An admin deposit instruction is introduced to increment admin shares (a direct transfer in would be distributed to all shareholders as if it were liquidation yield)
The following tests are written with several cases (USDC, SOL, PYUSD, some t22 token with fee):
Notes:
a LIF account has a maximum number of deposits/withdraws. Group admins may want to deposit into all banks. To handle this, admin shares are stored directly in the LIF, and are managed through separate instructions.
The admin withdraw function assumes the input value is token amount if no LIF is present, and is share amount if a LIF is present. This could perhaps be done a little more neatly via an enum that panics when in the wrong variant.