✨ weird APYs: adds check and reports on fixed pools (#606)

exactly · Oct 11, 2022 · c1305fd · c1305fd
1 parent c9bf887
commit c1305fd
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Showing 4 changed files with 74 additions and 20 deletions.
diff --git a/components/MarketsList/Item/index.tsx b/components/MarketsList/Item/index.tsx
@@ -93,10 +93,10 @@ function Item({ market, type, fixedMarketData }: Props) {
     }
 
     try {
-      const fixedMarket = fixedMarketData?.find((element) => element.market == market.market);
+      const fixedMarket = fixedMarketData?.find((element) => element.market === market.market);
 
-      if (type == 'borrow') {
-        const pool = fixedMarket?.borrows.find((pool) => pool.maturity.toString() == date?.value);
+      if (type === 'borrow') {
+        const pool = fixedMarket?.borrows.find((pool) => pool.maturity.toString() === date?.value);
         if (!fixedMarket || !pool) return;
 
         const initialAssets = fixedMarket.assets;
@@ -114,8 +114,8 @@ function Item({ market, type, fixedMarketData }: Props) {
         } else {
           setRate(`${borrowFixedAPY.toFixed(2)}%`);
         }
-      } else if (type == 'deposit') {
-        const pool = fixedMarket?.deposits.find((pool) => pool.maturity.toString() == date?.value);
+      } else if (type === 'deposit') {
+        const pool = fixedMarket?.deposits.find((pool) => pool.maturity.toString() === date?.value);
         if (!fixedMarket || !pool) return;
 
         const initialAssets = fixedMarket.assets;

diff --git a/components/MarketsList/index.tsx b/components/MarketsList/index.tsx
@@ -1,6 +1,7 @@
 import { useContext, useEffect, useState } from 'react';
-import { parseFixed } from '@ethersproject/bignumber';
+import { formatFixed, parseFixed } from '@ethersproject/bignumber';
 import dynamic from 'next/dynamic';
+import { captureMessage } from '@sentry/nextjs';
 
 const Item = dynamic(() => import('components/MarketsList/Item'));
 import Tooltip from 'components/Tooltip';
@@ -22,6 +23,7 @@ import keys from './translations.json';
 import formatMarkets from 'utils/formatMarkets';
 
 import numbers from 'config/numbers.json';
+const { usdAmount, maxAPYValue, minAPYValue } = numbers;
 
 function MarketsList() {
   const previewerData = useContext(PreviewerContext);
@@ -53,6 +55,57 @@ function MarketsList() {
     }
   }
 
+  const checkWeirdAPY = (marketsData: any) => {
+    if (!markets.length) return; // not ready to do the check yet
+
+    const findings = [];
+    // iterate through every market asset
+    for (let index = 0; index < marketsData.length; index++) {
+      const marketData = marketsData[index];
+      const {
+        borrows: borrowPools,
+        deposits: depositPools,
+        assets: initialAssets,
+        market: marketAddress
+      } = marketData;
+      const { name: marketName } = markets.find(
+        ({ market }) => market.toLowerCase() === marketAddress.toLowerCase()
+      )!;
+      // iterate through every borrow & deposit pools - parallel arrays
+      for (let j = 0; j < borrowPools.length; j++) {
+        const { assets: borrowFinalAssets, maturity: timestampEnd } = borrowPools[j];
+        const { assets: depositFinalAssets } = depositPools[j];
+
+        const timestampNow = new Date().getTime() / 1_000;
+
+        // 31_536_000 = seconds in 1 year
+        const timePerYear = 31_536_000 / (timestampEnd - timestampNow);
+
+        const borrowRate = borrowFinalAssets.mul(parseFixed('1', 18)).div(initialAssets);
+        const borrowFixedAPY = (Number(formatFixed(borrowRate, 18)) ** timePerYear - 1) * 100;
+
+        const depositRate = depositFinalAssets.mul(parseFixed('1', 18)).div(initialAssets);
+        const depositFixedAPY = (Number(formatFixed(depositRate, 18)) ** timePerYear - 1) * 100;
+
+        if (depositFixedAPY > borrowFixedAPY) {
+          findings.push(`Market: ${marketName} -> deposit APY > borrow APY.`);
+        }
+
+        if (depositFixedAPY > maxAPYValue || borrowFixedAPY > maxAPYValue) {
+          findings.push(`Market: ${marketName} -> APY > ${maxAPYValue}%`);
+        }
+
+        if (depositFixedAPY < minAPYValue || borrowFixedAPY < minAPYValue) {
+          findings.push(`Market: ${marketName} -> APY < ${minAPYValue}%`);
+        }
+      }
+    }
+
+    if (findings.length) {
+      captureMessage(`Weird Fixed APYs | ${findings.join(' | ')}`);
+    }
+  };
+
   async function getPreviewFixed() {
     try {
       const previewerContract = getInstance(
@@ -61,11 +114,12 @@ function MarketsList() {
         'previewer'
       );
 
-      const data = await previewerContract?.previewFixed(
-        parseFixed(numbers.usdAmount.toString(), 18)
+      const marketData = await previewerContract?.previewFixed(
+        parseFixed(usdAmount.toString(), 18)
       );
 
-      setFixedMarketData(data);
+      checkWeirdAPY(marketData);
+      setFixedMarketData(marketData);
     } catch (e) {
       console.log(e);
     }

diff --git a/components/SmartPoolList/Item/index.tsx b/components/SmartPoolList/Item/index.tsx
@@ -53,7 +53,7 @@ function Item({ market, type }: Props) {
   async function getFixedLenderContract() {
     if (!market) return;
 
-    const filteredFixedLender = fixedLenderData.find((fl) => fl.address == market.market);
+    const filteredFixedLender = fixedLenderData.find((fl) => fl.address === market.market);
 
     setEMarketAddress(filteredFixedLender?.address);
   }
@@ -90,20 +90,20 @@ function Item({ market, type }: Props) {
 
       if (!eMarketAddress) return;
 
-      if (type == 'deposit') {
+      if (type === 'deposit') {
         const maxFuturePools = accountData[market?.symbol.toUpperCase()].maxFuturePools;
         const data = await queryRate(subgraphUrl, eMarketAddress, 'deposit', { maxFuturePools });
 
         interestRate = data[0].rate.toFixed(2);
       }
 
-      if (type == 'borrow') {
+      if (type === 'borrow') {
         const data = await queryRate(subgraphUrl, eMarketAddress, 'borrow');
 
         interestRate = data[0].rate.toFixed(2);
       }
 
-      if (interestRate && rate && `${interestRate}%` == rate) {
+      if (interestRate && rate && `${interestRate}%` === rate) {
         return;
       }
 
@@ -163,10 +163,10 @@ function Item({ market, type }: Props) {
   return (
     <div
       className={`${style.container} ${
-        type == 'borrow' ? style.secondaryContainer : style.primaryContainer
+        type === 'borrow' ? style.secondaryContainer : style.primaryContainer
       }`}
     >
-      <Link href={`/assets/${market?.symbol == 'WETH' ? 'eth' : market?.symbol.toLowerCase()}`}>
+      <Link href={`/assets/${market?.symbol === 'WETH' ? 'eth' : market?.symbol.toLowerCase()}`}>
         <div className={style.symbol}>
           {(market && (
             <Image
@@ -185,20 +185,20 @@ function Item({ market, type }: Props) {
         {(market &&
           poolData &&
           `$${formatNumber(
-            (type == 'borrow' ? poolData?.borrowed! : poolData?.supplied!) * poolData?.rate!,
+            (type === 'borrow' ? poolData?.borrowed! : poolData?.supplied!) * poolData?.rate!,
             'USD'
           )}`) || <Skeleton />}
       </p>
       <p className={style.value}>{(rate && rate) || <Skeleton />}</p>
       <div className={style.buttonContainer}>
         {(market && (
           <Button
-            text={type == 'borrow' ? translations[lang].borrow : translations[lang].deposit}
+            text={type === 'borrow' ? translations[lang].borrow : translations[lang].deposit}
             onClick={(e) => {
               e.stopPropagation();
-              handleClick(type == 'borrow' ? 'borrow' : 'deposit');
+              handleClick(type === 'borrow' ? 'borrow' : 'deposit');
             }}
-            className={type == 'borrow' ? 'secondary' : 'primary'}
+            className={type === 'borrow' ? 'secondary' : 'primary'}
           />
         )) || <Skeleton height={40} />}
       </div>

diff --git a/config/numbers.json b/config/numbers.json
@@ -9,5 +9,5 @@
   "gasLimitMultiplier": 1.25,
   "debounceTime": 500,
   "minAPYValue": 0,
-  "maxAPYValue": 100
+  "maxAPYValue": 30
 }