Place Liquidation Bid via CLI

[otoole-brendan]

What is the Problem Being Solved?

In the absence of a liquidation UI for Vaults launch, we will need a means for user (presumably with bots) to be able to place bids for liquidated collateral via CLI

Description of the Design

revised by @dckc

Follow established pattern for commands that format smart wallet offers and sign/send them. See also test plan below.

Security Considerations

agoric cli relies on cosmos-style agd for key / keyring management.

Scaling Considerations

none?

Test Plan

Among others, test that...

Tasks

Beta Give feedback

1. Users can place bids with a bidding agent as specific prices
2. Users can place bids with a bidding agent as discounts to oracle price
3. Users can receive the asset(s) purchased by the bidding agent
4. Users can cancel bids and receive their IST back
5. frequent liquidation timing for testing #7249
   2 of 2
   Inter-protocol auction enhancement test vaults_triage +5
   

To modify a bid, users can cancel and place another bid.

Testing has been a mix of manual and automated approaches.

[otoole-brendan]

#6889 serves to document how one might follow the CLI bidding process

[dckc]

I added some detail to the design, test plan.

[dckc]

modify bid feasible? required?

Having looked at this in a little detail (#7132) I don't see how to do "modify bid". @Chris-Hibbert I don't see support for it in the contract. Did I miss it? Or did you plan to add it?

@otoole-brendan can we do without modify?

I can probably combine "exit bid offer" and "place new bid" into one cli action, if that's close enough... though partial failure makes it tricky.

p.s. in a user stories doc, I see: "If ‘modify’ is challenging, sufficient to cancel and create a new one - UI could abstract this into a ‘modify’"

[Chris-Hibbert]

I don't see how to do "modify bid". @Chris-Hibbert I don't see support for it in the contract. Did I miss it? Or did you plan to add it?

I missed this requirement. I have no plans or design. The easiest approach is probably exit and place new bid.

[dckc]

Place priced bid; receive payouts working

2023-03-20T23:46:04.918Z SwingSet: vat: v49: ----- VM.11  20 lockPrice { brand: Object [Alleged: IbcATOM brand] {}, value: 1_000_000n } { brand: Object [Alleged: IST brand] {}, value: 2_600_000n }

$ inter bid list --from gov1 --keyring-backend=test
{"id":"bid-1679355396104","give":{"Currency":"50IST"},"want":"5IbcATOM","price":"0.000009IST/0.000001IbcATOM}","payouts":{"Collateral":"5IbcATOM","Currency":"37IST"}}

[dckc]

some sequence diagrams:

Notes:

• dotted lines are "replies" to (or more generally: consequences of) solid lines
• "10 IST Pmt" denotes a payment of 10 IST -- actual assets -- where "10 IST" is an amount -- just a description of assets.

Context: Creating a Vault

sequenceDiagram

title Creating a Vault

actor Alice
participant Zoe
participant VaultFactory
participant Oracle

    Oracle->>VaultFactory: pushPrice(12.34)
    Alice->>Zoe: contract: VaultFactory<br>give: 15 ATOM Pmt<br>want: 100 IST
    Zoe-->>VaultFactory: seat1<br>give: 15 ATOM<br>want: 100 IST
    VaultFactory-->>Zoe: reallocate 100 IST for 10 ATOM<br>result: vault0
    Zoe-->>Alice: 100 IST Pmt, vault0
    Zoe-->>VaultFactory: 15 ATOM

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Liquidation Bidding

sequenceDiagram

title Liquidation Bidding

actor Alice
participant Zoe
participant VaultFactory
participant Auctioneer
participant Oracle
actor Bob

    Bob->>Zoe: contract: Auctioneer<br>give: 50 IST Pmt<br>want: 5 ATOM<br>price: 10 IST/ATOM
    Zoe-->>Bob: UserSeat 2
    Zoe-->>Auctioneer: seat 2<br>give: 50 IST, want: 5 ATOM<br>price: 9.5 IST/ATOM
    Oracle->>VaultFactory: pushPrice(9.99)
    VaultFactory-->>Alice: vault0 liquidating
    VaultFactory-->>Auctioneer: 15 ATOM Pmt to sell
    Auctioneer->>Zoe: seat: 2<br>reallocate 5 ATOM for 47.5 IST
    Zoe-->>Bob: 5 ATOM Pmt, 2.5 IST Pmt

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