diff --git a/.gas-snapshot b/.gas-snapshot
index f7b33ce29..0d7f90c1e 100644
--- a/.gas-snapshot
+++ b/.gas-snapshot
@@ -128,12 +128,12 @@ EscrowedEXATest:testWithdrawFromUnknownStream() (gas: 886169)
 EscrowedEXATest:testWithdrawMaxFromMultipleStreams() (gas: 1014203)
 EscrowedEXATest:testWithdrawMaxShouldGiveReserveBackWhenDepleted() (gas: 329124)
 EscrowedEXATest:testWithdrawMaxWithInvalidSender() (gas: 342347)
-InterestRateModelTest:testFixedBorrowRate() (gas: 1891802)
-InterestRateModelTest:testFixedRateRevertAlreadyMatured() (gas: 1905701)
-InterestRateModelTest:testFixedRateRevertUtilizationExceeded() (gas: 1913063)
-InterestRateModelTest:testFloatingBorrowRate() (gas: 1885059)
-InterestRateModelTest:testMinTimeToMaturity() (gas: 1923229)
-InterestRateModelTest:testRevertMaxUtilizationLowerThanWad() (gas: 40391)
+InterestRateModelTest:testFixedBorrowRate() (gas: 1843854)
+InterestRateModelTest:testFixedRateRevertAlreadyMatured() (gas: 1857753)
+InterestRateModelTest:testFixedRateRevertUtilizationExceeded() (gas: 1865115)
+InterestRateModelTest:testFloatingBorrowRate() (gas: 1837111)
+InterestRateModelTest:testMinTimeToMaturity() (gas: 1875281)
+InterestRateModelTest:testRevertMaxUtilizationLowerThanWad() (gas: 40324)
 MarketTest:testAccountLiquidityAdjustedDebt() (gas: 383457)
 MarketTest:testAnotherUserRedeemWhenOwnerHasShortfall() (gas: 488834)
 MarketTest:testAnotherUserWithdrawWhenOwnerHasShortfall() (gas: 476496)
@@ -165,7 +165,7 @@ MarketTest:testDepositShouldUpdateFlexibleBorrowVariables() (gas: 447512)
 MarketTest:testDepositToSmartPool() (gas: 160031)
 MarketTest:testDistributeMultipleAccumulatedEarnings() (gas: 756517)
 MarketTest:testDistributionOfLossesShouldReduceFromFloatingBackupBorrowedAccordingly() (gas: 2192309)
-MarketTest:testEarlyRepaymentWithExcessiveAmountOfFees() (gas: 2664955)
+MarketTest:testEarlyRepaymentWithExcessiveAmountOfFees() (gas: 2617024)
 MarketTest:testEarlyWithdrawFromFreeLunchShouldNotRevertWithFloatingFullUtilization() (gas: 616705)
 MarketTest:testFixedBorrowFailingWhenFlexibleBorrowAccruesDebt() (gas: 790382)
 MarketTest:testFixedBorrowRateToMaturity() (gas: 410076)
@@ -215,8 +215,8 @@ MarketTest:testRoundingUpAllowanceWhenBorrowingAtMaturity() (gas: 502969)
 MarketTest:testRoundingUpAllowanceWhenWithdrawingAtMaturity() (gas: 526476)
 MarketTest:testSetDampSpeedFactorShouldUpdateFloatingAssetsAverage() (gas: 243656)
 MarketTest:testSetEarningsAccumulatorSmoothFactorShouldDistributeEarnings() (gas: 498257)
-MarketTest:testSetInterestRateModelShouldUpdateFloatingDebt() (gas: 2393276)
-MarketTest:testSetInterestRateModelWithAddressZeroShouldNotUpdateFloatingDebt() (gas: 2225605)
+MarketTest:testSetInterestRateModelShouldUpdateFloatingDebt() (gas: 2345345)
+MarketTest:testSetInterestRateModelWithAddressZeroShouldNotUpdateFloatingDebt() (gas: 2177674)
 MarketTest:testShareValueNotDecreasingAfterDeposit() (gas: 473858)
 MarketTest:testShareValueNotDecreasingWhenMintingToTreasury() (gas: 479677)
 MarketTest:testSingleFloatingBorrow() (gas: 328444)
@@ -249,36 +249,36 @@ PoolLibTest:testMaturityRangeTooWide() (gas: 6831)
 PreviewerTest:testAccountsReturningAccurateAmounts() (gas: 1296347)
 PreviewerTest:testAccountsReturningUtilizationForDifferentMaturities() (gas: 3650720)
 PreviewerTest:testAccountsWithAccountOnlyDeposit() (gas: 829257)
-PreviewerTest:testAccountsWithAccountThatHasBalances() (gas: 1790555)
+PreviewerTest:testAccountsWithAccountThatHasBalances() (gas: 1790509)
 PreviewerTest:testAccountsWithEmptyAccount() (gas: 678796)
-PreviewerTest:testAccountsWithIntermediateOperationsReturningAccurateAmounts() (gas: 15755663)
+PreviewerTest:testAccountsWithIntermediateOperationsReturningAccurateAmounts() (gas: 15707764)
 PreviewerTest:testActualTimeBeforeStartDistributionRewards() (gas: 7049137)
 PreviewerTest:testEmptyExactly() (gas: 5098692)
 PreviewerTest:testExactlyReturningInterestRateModelData() (gas: 677746)
-PreviewerTest:testFixedAvailableLiquidityProjectingNewFloatingDebt() (gas: 11477125)
-PreviewerTest:testFixedPoolsA() (gas: 16773585)
+PreviewerTest:testFixedAvailableLiquidityProjectingNewFloatingDebt() (gas: 11429226)
+PreviewerTest:testFixedPoolsA() (gas: 16744235)
 PreviewerTest:testFixedPoolsChangingMaturityInTime() (gas: 1613611)
-PreviewerTest:testFixedPoolsRatesAndUtilizations() (gas: 13263686)
-PreviewerTest:testFixedPoolsWithFloatingAssetsAverage() (gas: 13747954)
-PreviewerTest:testFlexibleAvailableLiquidity() (gas: 14982932)
+PreviewerTest:testFixedPoolsRatesAndUtilizations() (gas: 13215787)
+PreviewerTest:testFixedPoolsWithFloatingAssetsAverage() (gas: 13700055)
+PreviewerTest:testFlexibleAvailableLiquidity() (gas: 14944250)
 PreviewerTest:testFlexibleBorrowSharesAndAssets() (gas: 3906199)
-PreviewerTest:testFloatingAvailableLiquidityProjectingNewFloatingDebt() (gas: 10996305)
+PreviewerTest:testFloatingAvailableLiquidityProjectingNewFloatingDebt() (gas: 10948406)
 PreviewerTest:testFloatingRateAndUtilization() (gas: 996740)
 PreviewerTest:testJustUpdatedRewardRatesShouldStillReturnRate() (gas: 6163444)
 PreviewerTest:testMaxBorrowAssetsCapacity() (gas: 2125761)
-PreviewerTest:testMaxBorrowAssetsCapacityForAccountWithShortfall() (gas: 9627246)
-PreviewerTest:testMaxBorrowAssetsCapacityPerMarket() (gas: 11111938)
-PreviewerTest:testOraclePriceReturningAccurateValues() (gas: 9153532)
-PreviewerTest:testPreviewBorrowAtAllMaturitiesReturningAccurateAmount() (gas: 3094736)
-PreviewerTest:testPreviewBorrowAtMaturityReturningAccurateAmount() (gas: 523812)
-PreviewerTest:testPreviewBorrowAtMaturityReturningAccurateAmountWithIntermediateOperations() (gas: 1187511)
-PreviewerTest:testPreviewBorrowAtMaturityReturningAccurateUtilization() (gas: 379563)
-PreviewerTest:testPreviewBorrowAtMaturityWithFiveUnits() (gas: 319411)
-PreviewerTest:testPreviewBorrowAtMaturityWithInvalidMaturity() (gas: 213019)
+PreviewerTest:testMaxBorrowAssetsCapacityForAccountWithShortfall() (gas: 9579347)
+PreviewerTest:testMaxBorrowAssetsCapacityPerMarket() (gas: 11064039)
+PreviewerTest:testOraclePriceReturningAccurateValues() (gas: 9105633)
+PreviewerTest:testPreviewBorrowAtAllMaturitiesReturningAccurateAmount() (gas: 3093908)
+PreviewerTest:testPreviewBorrowAtMaturityReturningAccurateAmount() (gas: 523789)
+PreviewerTest:testPreviewBorrowAtMaturityReturningAccurateAmountWithIntermediateOperations() (gas: 1187442)
+PreviewerTest:testPreviewBorrowAtMaturityReturningAccurateUtilization() (gas: 379517)
+PreviewerTest:testPreviewBorrowAtMaturityWithFiveUnits() (gas: 319388)
+PreviewerTest:testPreviewBorrowAtMaturityWithInvalidMaturity() (gas: 212996)
 PreviewerTest:testPreviewBorrowAtMaturityWithMaturedMaturity() (gas: 50123)
-PreviewerTest:testPreviewBorrowAtMaturityWithOneUnit() (gas: 319390)
+PreviewerTest:testPreviewBorrowAtMaturityWithOneUnit() (gas: 319367)
 PreviewerTest:testPreviewBorrowAtMaturityWithSameTimestamp() (gas: 50041)
-PreviewerTest:testPreviewBorrowAtMaturityWithZeroAmount() (gas: 201887)
+PreviewerTest:testPreviewBorrowAtMaturityWithZeroAmount() (gas: 201864)
 PreviewerTest:testPreviewDepositAtAllMaturitiesReturningAccurateAmounts() (gas: 1554561)
 PreviewerTest:testPreviewDepositAtMaturityReturningAccurateAmount() (gas: 584837)
 PreviewerTest:testPreviewDepositAtMaturityReturningAccurateAmountWithIntermediateOperations() (gas: 858194)
@@ -298,22 +298,22 @@ PreviewerTest:testPreviewRepayAtMaturityWithMaturedMaturity() (gas: 496857)
 PreviewerTest:testPreviewRepayAtMaturityWithOneUnit() (gas: 500038)
 PreviewerTest:testPreviewRepayAtMaturityWithSameTimestamp() (gas: 495257)
 PreviewerTest:testPreviewRepayAtMaturityWithZeroAmount() (gas: 500104)
-PreviewerTest:testPreviewValueInFixedOperations() (gas: 1994048)
-PreviewerTest:testPreviewWithdrawAtMaturityReturningAccurateAmount() (gas: 213016)
-PreviewerTest:testPreviewWithdrawAtMaturityReturningAccurateAmountWithIntermediateOperations() (gas: 770920)
+PreviewerTest:testPreviewValueInFixedOperations() (gas: 1993933)
+PreviewerTest:testPreviewWithdrawAtMaturityReturningAccurateAmount() (gas: 212995)
+PreviewerTest:testPreviewWithdrawAtMaturityReturningAccurateAmountWithIntermediateOperations() (gas: 770851)
 PreviewerTest:testPreviewWithdrawAtMaturityWithEmptyMaturity() (gas: 35229)
 PreviewerTest:testPreviewWithdrawAtMaturityWithEmptyMaturityAndZeroAmount() (gas: 35272)
-PreviewerTest:testPreviewWithdrawAtMaturityWithFiveUnits() (gas: 220114)
+PreviewerTest:testPreviewWithdrawAtMaturityWithFiveUnits() (gas: 220088)
 PreviewerTest:testPreviewWithdrawAtMaturityWithInvalidMaturity() (gas: 35293)
 PreviewerTest:testPreviewWithdrawAtMaturityWithMaturedMaturity() (gas: 197469)
-PreviewerTest:testPreviewWithdrawAtMaturityWithOneUnit() (gas: 220113)
+PreviewerTest:testPreviewWithdrawAtMaturityWithOneUnit() (gas: 220087)
 PreviewerTest:testPreviewWithdrawAtMaturityWithSameTimestamp() (gas: 197485)
-PreviewerTest:testPreviewWithdrawAtMaturityWithZeroAmount() (gas: 220159)
+PreviewerTest:testPreviewWithdrawAtMaturityWithZeroAmount() (gas: 220133)
 PreviewerTest:testReturnRewardAssetUsdPrice() (gas: 6119994)
 PreviewerTest:testRewardsRateAfterDistributionEnd() (gas: 6325080)
 PreviewerTest:testRewardsRateOnlyWithFixedBorrows() (gas: 6153289)
-PreviewerTest:testRewardsRateWithDifferentRewardLengths() (gas: 17163539)
-PreviewerTest:testRewardsRateWithMarketWithDifferentDecimals() (gas: 16354622)
+PreviewerTest:testRewardsRateWithDifferentRewardLengths() (gas: 17115640)
+PreviewerTest:testRewardsRateWithMarketWithDifferentDecimals() (gas: 16306723)
 PreviewerTest:testRewardsRateX() (gas: 7204946)
 PriceFeedDoubleTest:testPriceFeedDoubleReturningAccurateDecimals() (gas: 428034)
 PriceFeedDoubleTest:testPriceFeedDoubleReturningPrice() (gas: 26138)
diff --git a/contracts/InterestRateModel.sol b/contracts/InterestRateModel.sol
index b645462e4..0c6497372 100644
--- a/contracts/InterestRateModel.sol
+++ b/contracts/InterestRateModel.sol
@@ -203,13 +203,7 @@ contract InterestRateModel {
   ) external view returns (uint256) {
     if (block.timestamp >= maturity) revert AlreadyMatured();
     uint256 floatingAssets = previewFloatingAssetsAverage(maturity);
-    uint256 backupBorrowed = market.floatingBackupBorrowed();
-    uint256 floatingDebt = totalFloatingBorrowAssets(
-      floatingAssets,
-      market.floatingDebt(),
-      backupBorrowed,
-      market.lastFloatingDebtUpdate()
-    );
+    uint256 floatingDebt = market.totalFloatingBorrowAssets();
     uint256 newBorrowed = borrowed + amount;
     uint256 backupDebtAddition = newBorrowed - Math.min(Math.max(borrowed, supplied), newBorrowed);
 
@@ -219,21 +213,15 @@ contract InterestRateModel {
         market.maxFuturePools(),
         fixedUtilization(supplied, newBorrowed, floatingAssets),
         floatingAssets != 0 ? floatingDebt.divWadUp(floatingAssets) : 0,
-        globalUtilization(floatingAssets, floatingDebt, backupBorrowed + backupDebtAddition)
+        globalUtilization(floatingAssets, floatingDebt, market.floatingBackupBorrowed() + backupDebtAddition)
       ).mulDivDown(maturity - block.timestamp, 365 days);
   }
 
   /// @dev deprecated in favor of `fixedRate(maturity, maxPools, uFixed, uFloating, uGlobal)`
   function minFixedRate(uint256, uint256, uint256) external view returns (uint256 rate, uint256 utilization) {
     uint256 floatingAssets = market.floatingAssetsAverage();
-    uint256 backupBorrowed = market.floatingBackupBorrowed();
-    uint256 floatingDebt = totalFloatingBorrowAssets(
-      floatingAssets,
-      market.floatingDebt(),
-      backupBorrowed,
-      market.lastFloatingDebtUpdate()
-    );
-    utilization = globalUtilization(floatingAssets, floatingDebt, backupBorrowed);
+    uint256 floatingDebt = market.totalFloatingBorrowAssets();
+    utilization = globalUtilization(floatingAssets, floatingDebt, market.floatingBackupBorrowed());
     rate = baseRate(floatingAssets != 0 ? floatingDebt.divWadUp(floatingAssets) : 0, utilization);
   }
 
@@ -254,22 +242,6 @@ contract InterestRateModel {
     return memFloatingAssetsAverage.mulWadDown(1e18 - averageFactor) + averageFactor.mulWadDown(memFloatingAssets);
   }
 
-  function totalFloatingBorrowAssets(
-    uint256 floatingAssets,
-    uint256 floatingDebt,
-    uint256 backupBorrowed,
-    uint256 lastFloatingDebtUpdate
-  ) internal view returns (uint256) {
-    return
-      floatingDebt +
-      floatingDebt.mulWadDown(
-        floatingRate(
-          floatingAssets != 0 ? floatingDebt.divWadUp(floatingAssets) : 0,
-          globalUtilization(floatingAssets, floatingDebt, backupBorrowed)
-        ).mulDivDown(block.timestamp - lastFloatingDebtUpdate, 365 days)
-      );
-  }
-
   function globalUtilization(
     uint256 floatingAssets,
     uint256 floatingDebt,