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Refactor liquidation on deprecated market #1305

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merged 8 commits into from
Sep 23, 2022
Merged

Refactor liquidation on deprecated market #1305

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74fbc84
✨ (#1303) Liquidate full amount when market is deprecated
MerlinEgalite Sep 21, 2022
cca205c
✅ (#1303) Update test to liquidate full amount
MerlinEgalite Sep 21, 2022
f238267
⚡️ (#1303) Small opti
MerlinEgalite Sep 21, 2022
b0c51a2
🩹 (#1303) Fix refactor
MerlinEgalite Sep 21, 2022
4098167
♻️ (#1303) Avoid stack too deep
MerlinEgalite Sep 21, 2022
aad9e51
⚡️ (#1303) Improve performance
MerlinEgalite Sep 22, 2022
45a9764
✅ (#1303) Improve tests
MerlinEgalite Sep 22, 2022
8d19785
✅ (#1303) Fix tests
MerlinEgalite Sep 22, 2022
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15 changes: 7 additions & 8 deletions contracts/aave-v2/ExitPositionsManager.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -128,6 +128,7 @@ contract ExitPositionsManager is IExitPositionsManager, PositionsManagerUtils {
uint256 collateralTokenUnit; // The collateral token unit considering its decimals.
uint256 borrowedReserveDecimals; // The number of decimals of the borrowed asset in the reserve.
uint256 borrowedTokenUnit; // The unit of borrowed token considering its decimals.
uint256 closeFactor; // The close factor used during the liquidation.
}

// Struct to avoid stack too deep.
Expand Down Expand Up @@ -221,23 +222,22 @@ contract ExitPositionsManager is IExitPositionsManager, PositionsManagerUtils {
_updateIndexes(_poolTokenBorrowed);
_updateIndexes(_poolTokenCollateral);

if (!borrowedMarket.isDeprecated && !_liquidationAllowed(_borrower))
revert UnauthorisedLiquidate();
LiquidateVars memory vars;
if (!borrowedMarket.isDeprecated) {
if (!_liquidationAllowed(_borrower)) revert UnauthorisedLiquidate();
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vars.closeFactor = DEFAULT_LIQUIDATION_CLOSE_FACTOR;
} else vars.closeFactor = MAX_BASIS_POINTS; // Allow liquidation of the whole debt.
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address tokenBorrowedAddress = market[_poolTokenBorrowed].underlyingToken;

uint256 amountToLiquidate = Math.min(
_amount,
_getUserBorrowBalanceInOf(_poolTokenBorrowed, _borrower).percentMul(
DEFAULT_LIQUIDATION_CLOSE_FACTOR
) // Max liquidatable debt.
_getUserBorrowBalanceInOf(_poolTokenBorrowed, _borrower).percentMul(vars.closeFactor) // Max liquidatable debt.
);

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address tokenCollateralAddress = market[_poolTokenCollateral].underlyingToken;

IPriceOracleGetter oracle = IPriceOracleGetter(addressesProvider.getPriceOracle());

LiquidateVars memory vars;
{
ILendingPool poolMem = pool;
(, , vars.liquidationBonus, vars.collateralReserveDecimals, ) = poolMem
Expand Down Expand Up @@ -316,7 +316,6 @@ contract ExitPositionsManager is IExitPositionsManager, PositionsManagerUtils {
emit P2PBorrowDeltaUpdated(_poolToken, deltasMem.p2pBorrowDelta);

ERC20 underlyingToken = ERC20(market[_poolToken].underlyingToken);

_borrowFromPool(underlyingToken, _amount);
_supplyToPool(underlyingToken, _amount);

Expand Down
6 changes: 3 additions & 3 deletions contracts/aave-v3/ExitPositionsManager.sol
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Expand Up @@ -133,8 +133,8 @@ contract ExitPositionsManager is IExitPositionsManager, PositionsManagerUtils {
uint256 borrowedTokenUnit; // The unit of borrowed token considering its decimals.
uint256 borrowedTokenPrice; // The price of the borrowed token.
uint256 amountToLiquidate; // The amount of debt token to repay.
uint256 closeFactor;
bool liquidationAllowed;
uint256 closeFactor; // The close factor used during the liquidation.
bool liquidationAllowed; // Whether the liquidation is allowed or not.
}

// Struct to avoid stack too deep.
Expand Down Expand Up @@ -232,7 +232,7 @@ contract ExitPositionsManager is IExitPositionsManager, PositionsManagerUtils {
if (!borrowedMarket.isDeprecated) {
(vars.closeFactor, vars.liquidationAllowed) = _liquidationAllowed(_borrower);
if (!vars.liquidationAllowed) revert UnauthorisedLiquidate();
} else vars.closeFactor = DEFAULT_LIQUIDATION_CLOSE_FACTOR;
} else vars.closeFactor = MAX_BASIS_POINTS; // Allow liquidation of the whole debt.

vars.amountToLiquidate = Math.min(
_amount,
Expand Down
11 changes: 7 additions & 4 deletions contracts/compound/PositionsManager.sol
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Expand Up @@ -218,6 +218,7 @@ contract PositionsManager is IPositionsManager, MatchingEngine {
uint256 supplyBalance;
uint256 borrowedPrice;
uint256 amountToSeize;
uint256 closeFactor;
}

/// LOGIC ///
Expand Down Expand Up @@ -500,13 +501,15 @@ contract PositionsManager is IPositionsManager, MatchingEngine {
_updateP2PIndexes(_poolTokenBorrowed);
_updateP2PIndexes(_poolTokenCollateral);

if (!borrowedMarket.isDeprecated && !_isLiquidatable(_borrower, address(0), 0, 0))
revert UnauthorisedLiquidate();

LiquidateVars memory vars;
if (!borrowedMarket.isDeprecated) {
if (!_isLiquidatable(_borrower, address(0), 0, 0)) revert UnauthorisedLiquidate();
vars.closeFactor = comptroller.closeFactorMantissa();
} else vars.closeFactor = WAD; // Allow liquidation of the whole debt.

vars.borrowBalance = _getUserBorrowBalanceInOf(_poolTokenBorrowed, _borrower);

if (_amount > vars.borrowBalance.mul(comptroller.closeFactorMantissa()))
if (_amount > vars.borrowBalance.mul(vars.closeFactor))
revert AmountAboveWhatAllowedToRepay(); // Same mechanism as Compound. Liquidator cannot repay more than part of the debt (cf close factor on Compound).

_safeRepayLogic(_poolTokenBorrowed, msg.sender, _borrower, _amount, 0);
Expand Down
2 changes: 1 addition & 1 deletion test-foundry/aave-v2/TestLiquidate.t.sol
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Expand Up @@ -40,7 +40,7 @@ contract TestLiquidate is TestSetup {
(, uint256 borrowOnPoolbefore) = morpho.borrowBalanceInOf(aDai, address(borrower1));

// Liquidate
uint256 toRepay = amount / 2;
uint256 toRepay = amount; // Full liquidation.
User liquidator = borrower3;
liquidator.approve(dai, address(morpho), toRepay);
liquidator.liquidate(aDai, aUsdc, address(borrower1), toRepay);
Expand Down
2 changes: 1 addition & 1 deletion test-foundry/aave-v3/TestLiquidate.t.sol
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Expand Up @@ -40,7 +40,7 @@ contract TestLiquidate is TestSetup {
(, uint256 borrowOnPoolbefore) = morpho.borrowBalanceInOf(aDai, address(borrower1));

// Liquidate
uint256 toRepay = amount / 2;
uint256 toRepay = amount; // Full liquidation.
User liquidator = borrower3;
liquidator.approve(dai, address(morpho), toRepay);
liquidator.liquidate(aDai, aUsdc, address(borrower1), toRepay);
Expand Down
2 changes: 1 addition & 1 deletion test-foundry/compound/TestLiquidate.t.sol
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Expand Up @@ -41,7 +41,7 @@ contract TestLiquidate is TestSetup {
(, uint256 borrowOnPoolbefore) = morpho.borrowBalanceInOf(cDai, address(borrower1));

// Liquidate
uint256 toRepay = amount / 3;
uint256 toRepay = amount; // Full liquidation.
User liquidator = borrower3;
liquidator.approve(dai, address(morpho), toRepay);
liquidator.liquidate(cDai, cUsdc, address(borrower1), toRepay);
Expand Down