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Fix Liquidity Pool average APY
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@sarah-thong
sarah-thong committed Mar 14, 2022
1 parent 5ab83ac commit 20d4408
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Showing 4 changed files with 174 additions and 62 deletions.
2 changes: 1 addition & 1 deletion package.json
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Original file line number Diff line number Diff line change
Expand Up @@ -22,7 +22,7 @@
"@types/react-router-dom": "^5.1.7",
"@types/redux-logger": "^3.0.8",
"bignumber.js": "^9.0.1",
"carbon-js-sdk": "^0.1.47",
"carbon-js-sdk": "^0.1.57",
"chart.js": "^3.2.0",
"eslint": "^7.23.0",
"gsap": "^3.6.1",
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136 changes: 136 additions & 0 deletions src/@demex-info/utils/liquidityPool.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -4,10 +4,14 @@ import BigNumber from "bignumber.js";
import { CarbonSDK, Models, WSModels } from "carbon-js-sdk";
import { TokenClient } from "carbon-js-sdk/lib/clients";

// Constant amount of liquidity (to estimate APY)
export const constantLP = new BigNumber(1000);

export interface Pool {
denom: string;
rewardsWeight: BigNumber;
totalCommitment: BigNumber;
sharesAmount: BigNumber;

denomA: string;
amountA: BigNumber;
Expand Down Expand Up @@ -37,6 +41,8 @@ export const parseLiquidityPools = (data: WSPools, tokenClient: TokenClient): Po
const amtB = parseNumber(pool?.amount_b, BN_ZERO)!;
const adjustedAmtA = tokenClient.toHuman(pool?.denom_a ?? "", amtA);
const adjustedAmtB = tokenClient.toHuman(pool?.denom_b ?? "", amtB);
const sharesAmt = parseNumber(pool?.shares_amount, BN_ZERO)!;
const adjustedShares = tokenClient.toHuman(pool?.denom, sharesAmt);
const totalCommitBN = parseNumber(total_commitment, BN_ZERO)!;
const adjustedCommit = tokenClient.toHuman(pool?.denom ?? "", totalCommitBN);
return {
Expand All @@ -45,6 +51,7 @@ export const parseLiquidityPools = (data: WSPools, tokenClient: TokenClient): Po
amountA: adjustedAmtA,
denomB: pool?.denom_b ?? "",
amountB: adjustedAmtB,
sharesAmount: adjustedShares,
rewardsWeight: parseNumber(rewards_weight, BN_ZERO)!,
totalCommitment: adjustedCommit,
};
Expand Down Expand Up @@ -149,3 +156,132 @@ export function getBreakdownToken(

return apy.isFinite() && !apy.isZero() ? apy : BN_ZERO;
}

/**
*
* return weekly rewards for liquidity pool
* @param rewards total weekly pools rewards (in BigNumber form)
* @param rewardsWeight rewards weight for liquidity pool
* @param totalWeight total rewards weight for all pools
*/
export function getWeeklyRewards(
rewards: BigNumber = BN_ZERO,
rewardsWeight: BigNumber = BN_ZERO,
totalWeight: BigNumber = BN_ZERO,
): BigNumber {
const weeklyRewards = !totalWeight.isZero() ? rewards.times(rewardsWeight).div(totalWeight) : BN_ZERO;
return weeklyRewards;
}

interface LPRewardsParams {
sdk: CarbonSDK | undefined;
pool: Pool;
poolsRewards: BigNumber;
totalWeight: BigNumber;
amountLP?: BigNumber;
boostFactor?: BigNumber;
commitPower?: BigNumber;
}
/**
*
* Returns swth lp rewards in usd (amount depends on pool weight and user commitment power)
*
* @param sdk carbon sdk instance (for retrieving usd values, etc.)
* @param pool pool data
* @param poolsRewards total swth LP rewards
* @param totalWeight total rewards weight for all pools
* @param amountLP total LP tokens staked (used only if commitPower is undefined)
* @param boostFactor boost factor of staked tokens (used only if commitPower is undefined)
* @param commitPower user's commitment power (if not provided, take amountLP * boostFactor to get commitPower)
*/
export function getLPRewards(rewardsParams: LPRewardsParams) {
const { sdk, pool, poolsRewards, totalWeight, amountLP = BN_ZERO, boostFactor = new BigNumber(1) } = rewardsParams;
const swthUSD = sdk?.token.getUSDValue("swth") ?? BN_ZERO;
const userCommit = rewardsParams.commitPower
? rewardsParams.commitPower
: amountLP.times(boostFactor);

// swthRewardsPoolUsd = poolsRewards * (rewardsWeight / totalWeight) * swthUsd
const swthRewardsPoolUsd = getWeeklyRewards(poolsRewards, pool.rewardsWeight, totalWeight).times(swthUSD);
const adjustedTotalCommit = pool.totalCommitment.plus(userCommit); // adjust totalCommit based on user's individual power
// swthRewardsUserUsd = swthRewardsPoolUsd * (userCommitPower / adjustedTotalCommit)
return adjustedTotalCommit.isZero() ? BN_ZERO : swthRewardsPoolUsd.times(userCommit.div(adjustedTotalCommit));
}

interface ApyParams extends LPRewardsParams {
notionalLp?: BigNumber
}

/**
*
* return estimated APY (for detailed calculation, please refer to the following resources: https://www.notion.so/switcheo/Calculating-LP-APY-Pseudocode-f20f51dda7164e779c4680479eb628f2)
* @param sdk carbon sdk instance (for retrieving usd values, etc.)
* @param pool pool data
* @param poolsRewards total swth LP rewards
* @param totalWeight total rewards weight for all pools
* @param amountLP total LP tokens staked
* @param boostFactor boost factor of staked tokens
* @param commitPower user's commitment power
* @param notionalLp user's pool liquidity (in usd)
*/
export function estimateAPY(apyParams: ApyParams) {
const {
sdk, pool, poolsRewards, totalWeight, amountLP = BN_ZERO, boostFactor = new BigNumber(1), commitPower = undefined, notionalLp = BN_ZERO,
} = apyParams;
const swthRewards = getLPRewards({
sdk,
pool,
poolsRewards,
totalWeight,
amountLP,
boostFactor,
commitPower,
});
return notionalLp.isZero() ? BN_ZERO : swthRewards.div(notionalLp).times(52).shiftedBy(2);
}

/**
*
* Return estimated APY if user's pool liquidity (in usd) is provided (i.e. no staked tokens info).
* Used for calculating APY given constant value (e.g. $1000 of staked LP tokens)
* @param sdk carbon sdk instance (for retrieving usd values, etc.)
* @param pool pool data
* @param poolsRewards total swth LP rewards
* @param totalWeight total rewards weight for all pools
* @param boostFactor boost factor of staked tokens
* @param notionalLp user's pool liquidity (in usd)
*/
export function estimateApyUSD(apyUSDParams: ApyParams) {
const {
sdk, pool, poolsRewards, totalWeight, boostFactor = new BigNumber(1), notionalLp = BN_ZERO,
} = apyUSDParams;
const poolTotal = getTotalUSDPrice(sdk, pool);
const amountLP = poolTotal.isZero() ? BN_ZERO : notionalLp.div(poolTotal).times(pool.sharesAmount);
return estimateAPY({
sdk, pool, poolsRewards, totalWeight, amountLP, boostFactor, notionalLp,
});
}

/**
*
* return total USD amount for tokenA and tokenB of liquidity pool from pool data
* @param sdk carbon sdk instance (for retrieving token usd value, etc.)
* @param pool liquidity pool data
*/
export function getTotalUSDPrice(
sdk: CarbonSDK | undefined,
pool: Pool,
): BigNumber {
const {
amountA: amountABN = BN_ZERO, amountB: amountBBN = BN_ZERO, denomA, denomB,
} = pool;

const usdValueA = sdk?.token.getUSDValue(denomA) ?? BN_ZERO;
const usdValueB = sdk?.token.getUSDValue(denomB) ?? BN_ZERO;

const amountAUSD = usdValueA.times(amountABN);
const amountBUSD = usdValueB.times(amountBBN);

const totalValueUSD = amountAUSD.plus(amountBUSD);
return totalValueUSD;
}
20 changes: 16 additions & 4 deletions ...ws/MiddleBlackSection/components/DemexProducts/components/LiquidityPool/LiquidityPool.tsx
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Original file line number Diff line number Diff line change
@@ -1,9 +1,9 @@
import { useAsyncTask, useWebsocket } from "@demex-info/hooks";
import { RootState } from "@demex-info/store/types";
import { BN_HUNDRED, BN_ZERO, calculateAPY, getBreakdownToken, Pool, parseLiquidityPools } from "@demex-info/utils";
import { BN_HUNDRED, BN_ZERO, constantLP, estimateApyUSD, getBreakdownToken, Pool, parseLiquidityPools, parseNumber } from "@demex-info/utils";
import { Hidden } from "@material-ui/core";
import BigNumber from "bignumber.js";
import { WSConnectorTypes, WSModels, WSResult } from "carbon-js-sdk";
import { Models, WSConnectorTypes, WSModels, WSResult } from "carbon-js-sdk";
import React, { useEffect } from "react";
import { useSelector } from "react-redux";
import LiquidityPoolSection from "./LiquidityPoolSection";
Expand All @@ -22,6 +22,7 @@ const LiquidityPool: React.FC<Props> = (props: Props) => {

const [pools, setPools] = React.useState<Pool[]>([]);
const [weeklyRewards, setWeeklyRewards] = React.useState<BigNumber>(BN_ZERO);
const [commitCurve, setCommitCurve] = React.useState<Models.CommitmentCurve | undefined>(undefined);

const sdk = useSelector((store: RootState) => store.app.sdk);
const tokenClient = sdk?.token;
Expand All @@ -36,6 +37,9 @@ const LiquidityPool: React.FC<Props> = (props: Props) => {

const poolsRewards = await sdk!.lp.getWeeklyRewards();

const curveResponse = await sdk.query.liquiditypool.CommitmentCurve({});
setCommitCurve(curveResponse.commitmentCurve);

setPools(poolsData);
setWeeklyRewards(poolsRewards ?? BN_ZERO);
} catch (err) {
Expand Down Expand Up @@ -86,16 +90,24 @@ const LiquidityPool: React.FC<Props> = (props: Props) => {
const avgApy = React.useMemo((): BigNumber => {
let weightTotal: BigNumber = BN_ZERO;
let cumApy: BigNumber = BN_ZERO;
const maxBoostBN = parseNumber(commitCurve?.maxRewardMultiplier, BN_ZERO)!.dividedBy(100);

pools.forEach((p: Pool) => {
weightTotal = weightTotal.plus(p.rewardsWeight ?? BN_ZERO);
});
pools.forEach((pool: Pool) => {
const indivApy = calculateAPY(sdk, pool, weeklyRewards, weightTotal);
const indivApy = estimateApyUSD({
sdk,
pool,
poolsRewards: weeklyRewards,
totalWeight: weightTotal,
boostFactor: maxBoostBN,
notionalLp: constantLP,
});
cumApy = cumApy.plus(indivApy);
});
return weightTotal.isZero() ? BN_ZERO : cumApy.dividedBy(pools.length);
}, [pools, weeklyRewards, sdk]);
}, [pools, weeklyRewards, sdk, commitCurve]);

return (
<React.Fragment>
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78 changes: 21 additions & 57 deletions yarn.lock
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Original file line number Diff line number Diff line change
Expand Up @@ -1170,16 +1170,15 @@
isomorphic-ws "4.0.1"
ws "7.4.5"

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Expand Down Expand Up @@ -1216,13 +1215,13 @@
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Expand All @@ -1233,16 +1232,6 @@
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Expand Down Expand Up @@ -2330,7 +2319,7 @@
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Expand Down Expand Up @@ -2910,32 +2899,13 @@
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Expand Down Expand Up @@ -4778,16 +4748,15 @@ capture-exit@^2.0.0:
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Expand Down Expand Up @@ -9399,11 +9368,6 @@ [email protected]:
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Expand Down

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