liquidations_config.proto

syntax = "proto3";
package dydxprotocol.clob;

import "gogoproto/gogo.proto";

option go_package = "github.com/dydxprotocol/v4-chain/protocol/x/clob/types";

// LiquidationsConfig stores all configurable fields related to liquidations.
message LiquidationsConfig {
  // The maximum liquidation fee (in parts-per-million). This fee goes
  // 100% to the insurance fund.
  uint32 max_liquidation_fee_ppm = 1;

  // Limits around how much of a single position can be liquidated
  // within a single block.
  PositionBlockLimits position_block_limits = 2
      [ (gogoproto.nullable) = false ];

  // Limits around how many quote quantums from a single subaccount can
  // be liquidated within a single block.
  SubaccountBlockLimits subaccount_block_limits = 3
      [ (gogoproto.nullable) = false ];

  // Config about how the fillable-price spread from the oracle price
  // increases based on the adjusted bankruptcy rating of the subaccount.
  FillablePriceConfig fillable_price_config = 4
      [ (gogoproto.nullable) = false ];
}

// PositionBlockLimits stores all configurable fields related to limits
// around how much of a single position can be liquidated within a single block.
message PositionBlockLimits {
  // The minimum amount of quantums to liquidate for each message (in
  // quote quantums).
  // Overridden by the maximum size of the position.
  uint64 min_position_notional_liquidated = 1;

  // The maximum portion of the position liquidated (in parts-per-
  // million). Overridden by min_position_notional_liquidated.
  uint32 max_position_portion_liquidated_ppm = 2;
}

// SubaccountBlockLimits stores all configurable fields related to limits
// around how many quote quantums from a single subaccount can
// be liquidated within a single block.
message SubaccountBlockLimits {
  // The maximum notional amount that a single subaccount can have
  // liquidated (in quote quantums) per block.
  uint64 max_notional_liquidated = 1;

  // The maximum insurance-fund payout amount for a given subaccount
  // per block. I.e. how much it can cover for that subaccount.
  uint64 max_quantums_insurance_lost = 2;
}

// FillablePriceConfig stores all configurable fields related to calculating
// the fillable price for liquidating a position.
message FillablePriceConfig {
  // The rate at which the Adjusted Bankruptcy Rating increases.
  uint32 bankruptcy_adjustment_ppm = 1;

  // The maximum value that the liquidation spread can take, as
  // a ratio against the position's maintenance margin.
  uint32 spread_to_maintenance_margin_ratio_ppm = 2;
}