fix: update price to account for fees (#184)

* fix: update price to account for fees * chore: add logging * fix: pool id * fix: include spec version * fix: multiply by WAD * chore: add more logs * fix: multiply first * refactor: readability * chore: cleanup --------- Co-authored-by: Filippo Fontana <[email protected]>
centrifuge · Jun 3, 2024 · c1e3fc8 · c1e3fc8
1 parent f25864c
commit c1e3fc8
Showing 1 changed file with 34 additions and 11 deletions.
diff --git a/src/mappings/services/trancheService.ts b/src/mappings/services/trancheService.ts
@@ -2,7 +2,7 @@ import { u128 } from '@polkadot/types'
 import { bnToBn, nToBigInt } from '@polkadot/util'
 import { paginatedGetter } from '../../helpers/paginatedGetter'
 import { WAD } from '../../config'
-import { ExtendedRpc, TrancheDetails } from '../../helpers/types'
+import { ExtendedCall, ExtendedRpc, TrancheDetails } from '../../helpers/types'
 import { Tranche, TrancheSnapshot } from '../../types'
 
 const MAINNET_CHAINID = '0xb3db41421702df9a7fcac62b53ffeac85f7853cc4e689e0b93aeb3db18c09d82'
@@ -53,15 +53,15 @@ export class TrancheService extends Tranche {
   }
 
   static async getByPoolId(poolId: string): Promise<TrancheService[]> {
-    const tranches = (await paginatedGetter<Tranche>(this, [['poolId', '=', poolId]]))
+    const tranches = await paginatedGetter<Tranche>(this, [['poolId', '=', poolId]])
     return tranches as TrancheService[]
   }
 
   static async getActivesByPoolId(poolId: string): Promise<TrancheService[]> {
-    const tranches = (await paginatedGetter<Tranche>(this, [
+    const tranches = await paginatedGetter<Tranche>(this, [
       ['poolId', '=', poolId],
       ['isActive', '=', true],
-    ]))
+    ])
     return tranches as TrancheService[]
   }
 
@@ -73,16 +73,39 @@ export class TrancheService extends Tranche {
     return this
   }
 
-  public updatePrice(price: bigint, block?: number) {
+  public async updatePrice(price: bigint, block?: number) {
+    const specVersion = api.runtimeVersion.specVersion.toNumber()
+    if (MAINNET_CHAINID === chainId && !!block) {
+      if (block < 4058350) return this.updatePriceFixDecimalError(price, block)
+      if (specVersion >= 1025 && specVersion < 1029) return await this.updatePriceFixForFees(price)
+    }
+    logger.info(`Updating price for tranche ${this.id} to: ${this.tokenPrice}`)
+    this.tokenPrice = price
+    return this
+  }
+
+  private updatePriceFixDecimalError(price: bigint, block: number) {
     // https://centrifuge.subscan.io/extrinsic/4058350-0?event=4058350-0
     // fix decimal error in old blocks, the fix was enacted at block #4058350
-    if (MAINNET_CHAINID === chainId && !!block && block < 4058350) {
-      this.tokenPrice = nToBigInt(bnToBn(price).div(bnToBn(1000000000)))
-      logger.info(`Updating price for tranche ${this.id} to: ${this.tokenPrice} (WITH CORRECTION FACTOR)`)
-    } else {
+    logger.info(
+      `Updating price for tranche ${this.id} to: ${this.tokenPrice} (WITH CORRECTION FACTOR) at block ${block}`
+    )
+    this.tokenPrice = nToBigInt(bnToBn(price).div(bnToBn(1000000000)))
+    return this
+  }
+
+  private async updatePriceFixForFees(price: bigint) {
+    // fix token price not accounting for fees
+    const apiCall = api.call as ExtendedCall
+    const navResponse = await apiCall.poolsApi.nav(this.poolId)
+    if (navResponse.isEmpty) {
+      logger.warn(`No NAV response! Saving inaccurate price: ${price} `)
       this.tokenPrice = price
-      logger.info(`Updating price for tranche ${this.id} to: ${this.tokenPrice}`)
+      return this
     }
+    const accruedFees = bnToBn(navResponse.unwrap().navFees.toBigInt())
+    this.tokenPrice = nToBigInt(bnToBn(price).sub(accruedFees.mul(WAD).div(bnToBn(this.tokenSupply))))
+    logger.info(`Updating price for tranche ${this.id} to: ${this.tokenPrice} (ACCOUNTING FOR ACCRUED FEES)`)
     return this
   }
 
@@ -92,7 +115,7 @@ export class TrancheService extends Tranche {
     const tokenPrices = await (api.rpc as ExtendedRpc).pools.trancheTokenPrices(poolId)
     const trancheTokenPrice = tokenPrices[this.index].toBigInt()
     if (trancheTokenPrice <= BigInt(0)) throw new Error(`Zero or negative price returned for tranche: ${this.id}`)
-    this.updatePrice(trancheTokenPrice, block)
+    await this.updatePrice(trancheTokenPrice, block)
     return this
   }