feat: add MsgMaxBorrow

CHANGELOG.md

@@ -64,6 +64,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 - [1654](https://github.com/umee-network/umee/pull/1654) Leverage historacle integration.
 - [1685](https://github.com/umee-network/umee/pull/1685) Add medians param to Token registry.
 - [1683](https://github.com/umee-network/umee/pull/1683) Add MaxBorrow query and allow returning all denoms from MaxWithdraw.
+- [1690](https://github.com/umee-network/umee/pull/1690) Add MaxBorrow message type.
 
 ## [v3.3.0](https://github.com/umee-network/umee/releases/tag/v3.3.0) - 2022-12-20
 

proto/umee/leverage/v1/tx.proto

@@ -36,6 +36,9 @@ service Msg {
   // Borrow allows a user to borrow tokens from the module if they have sufficient collateral.
   rpc Borrow(MsgBorrow) returns (MsgBorrowResponse);
 
+  // MaxBorrow allows a user to borrow the maximum amount of tokens their collateral will allow.
+  rpc MaxBorrow(MsgMaxBorrow) returns (MsgMaxBorrowResponse);
+
   // Repay allows a user to repay previously borrowed tokens and interest.
   rpc Repay(MsgRepay) returns (MsgRepayResponse);
 
@@ -99,6 +102,15 @@ message MsgBorrow {
   cosmos.base.v1beta1.Coin asset    = 2 [(gogoproto.nullable) = false];
 }
 
+// MsgMaxBorrow represents a user's request to borrow a base asset type
+// from the module, using the maximum available amount.
+message MsgMaxBorrow {
+  // Borrower is the account address taking a loan and the signer
+  // of the message.
+  string borrower = 1;
+  string denom    = 2;
+}
+
 // MsgRepay represents a user's request to repay a borrowed base asset
 // type to the module.
 message MsgRepay {
@@ -162,6 +174,12 @@ message MsgDecollateralizeResponse {}
 // MsgBorrowResponse defines the Msg/Borrow response type.
 message MsgBorrowResponse {}
 
+// MsgMaxBorrowResponse defines the Msg/MaxBorrow response type.
+message MsgMaxBorrowResponse {
+  // Borrowed is the amount of tokens borrowed.
+  cosmos.base.v1beta1.Coin borrowed = 1 [(gogoproto.nullable) = false];
+}
+
 // MsgRepayResponse defines the Msg/Repay response type.
 message MsgRepayResponse {
   // Repaid is the amount of base tokens repaid to the module.

x/leverage/README.md

@@ -80,6 +80,8 @@ Users have the following actions available to them:
 
   Interest will accrue on borrows for as long as they are not paid off, with the amount owed increasing at a rate of the asset's [Borrow APY](#borrow-apy).
 
+- `MsgMaxBorrow` borrows assets by automatically calculating the maximum amount that can be borrowed.
+
 - `MsgRepay` assets of a borrowed type, directly reducing the amount owed.
 
   Repayments that exceed a borrower's amount owed in the selected denomination succeed at paying the reduced amount rather than failing outright.

x/leverage/client/cli/tx.go

@@ -30,6 +30,7 @@ func GetTxCmd() *cobra.Command {
 		GetCmdCollateralize(),
 		GetCmdDecollateralize(),
 		GetCmdBorrow(),
+		GetCmdMaxBorrow(),
 		GetCmdRepay(),
 		GetCmdLiquidate(),
 		GetCmdSupplyCollateral(),
@@ -213,6 +214,30 @@ func GetCmdBorrow() *cobra.Command {
 	return cmd
 }
 
+// GetCmdMaxBorrow creates a Cobra command to generate or broadcast a
+// transaction with a MsgBorrow message.
+func GetCmdMaxBorrow() *cobra.Command {
+	cmd := &cobra.Command{
+		Use:   "max-borrow [denom]",
+		Args:  cobra.ExactArgs(1),
+		Short: "Borrow the maximum acceptable amount of a supported asset",
+		RunE: func(cmd *cobra.Command, args []string) error {
+			clientCtx, err := client.GetClientTxContext(cmd)
+			if err != nil {
+				return err
+			}
+
+			msg := types.NewMsgMaxBorrow(clientCtx.GetFromAddress(), args[0])
+
+			return tx.GenerateOrBroadcastTxCLI(clientCtx, cmd.Flags(), msg)
+		},
+	}
+
+	flags.AddTxFlagsToCmd(cmd)
+
+	return cmd
+}
+
 // GetCmdRepay creates a Cobra command to generate or broadcast a
 // transaction with a MsgRepay message.
 func GetCmdRepay() *cobra.Command {

x/leverage/client/tests/tests.go

@@ -190,7 +190,16 @@ func (s *IntegrationTestSuite) TestLeverageScenario() {
 		"borrow",
 		cli.GetCmdBorrow(),
 		[]string{
-			"249uumee", // produces a borrowed amount of 250 due to rounding
+			"150uumee",
+		},
+		nil,
+	}
+
+	maxborrow := testTransaction{
+		"max-borrow",
+		cli.GetCmdMaxBorrow(),
+		[]string{
+			"uumee", // should borrow up to the max of 250 uumee, which will become 251 due to rounding
 		},
 		nil,
 	}
@@ -253,13 +262,13 @@ func (s *IntegrationTestSuite) TestLeverageScenario() {
 			&types.QueryAccountBalancesResponse{},
 			&types.QueryAccountBalancesResponse{
 				Supplied: sdk.NewCoins(
-					sdk.NewInt64Coin(appparams.BondDenom, 1000),
+					sdk.NewInt64Coin(appparams.BondDenom, 1001),
 				),
 				Collateral: sdk.NewCoins(
 					sdk.NewInt64Coin(types.ToUTokenDenom(appparams.BondDenom), 1000),
 				),
 				Borrowed: sdk.NewCoins(
-					sdk.NewInt64Coin(appparams.BondDenom, 250),
+					sdk.NewInt64Coin(appparams.BondDenom, 251),
 				),
 			},
 		},
@@ -275,16 +284,16 @@ func (s *IntegrationTestSuite) TestLeverageScenario() {
 				// This result is umee's oracle exchange rate from
 				// app/test_helpers.go/IntegrationTestNetworkConfig
 				// times the amount of umee, and then times params
-				// (1000 / 1000000) * 34.21 = 0.03421
-				SuppliedValue: sdk.MustNewDecFromStr("0.03421"),
-				// (1000 / 1000000) * 34.21 = 0.03421
-				CollateralValue: sdk.MustNewDecFromStr("0.03421"),
-				// (250 / 1000000) * 34.21 = 0.0085525
-				BorrowedValue: sdk.MustNewDecFromStr("0.0085525"),
-				// (1000 / 1000000) * 34.21 * 0.25 = 0.0085525
-				BorrowLimit: sdk.MustNewDecFromStr("0.0085525"),
-				// (1000 / 1000000) * 0.25 * 34.21 = 0.0085525
-				LiquidationThreshold: sdk.MustNewDecFromStr("0.0085525"),
+				// (1001 / 1000000) * 34.21 = 0.03424421
+				SuppliedValue: sdk.MustNewDecFromStr("0.03424421"),
+				// (1001 / 1000000) * 34.21 = 0.03424421
+				CollateralValue: sdk.MustNewDecFromStr("0.03424421"),
+				// (251 / 1000000) * 34.21 = 0.00858671
+				BorrowedValue: sdk.MustNewDecFromStr("0.00858671"),
+				// (1001 / 1000000) * 34.21 * 0.25 = 0.0085610525
+				BorrowLimit: sdk.MustNewDecFromStr("0.0085610525"),
+				// (1001 / 1000000) * 0.25 * 34.21 = 0.0085610525
+				LiquidationThreshold: sdk.MustNewDecFromStr("0.0085610525"),
 			},
 		},
 		{
@@ -442,6 +451,7 @@ func (s *IntegrationTestSuite) TestLeverageScenario() {
 		addCollateral,
 		supplyCollateral,
 		borrow,
+		maxborrow,
 	)
 
 	// These queries run while the supplying and borrowing is active to produce nonzero output

x/leverage/keeper/msg_server.go

@@ -322,6 +322,68 @@ func (s msgServer) Borrow(
 	return &types.MsgBorrowResponse{}, err
 }
 
+func (s msgServer) MaxBorrow(
+	goCtx context.Context,
+	msg *types.MsgMaxBorrow,
+) (*types.MsgMaxBorrowResponse, error) {
+	ctx := sdk.UnwrapSDKContext(goCtx)
+
+	borrowerAddr, err := sdk.AccAddressFromBech32(msg.Borrower)
+	if err != nil {
+		return nil, err
+	}
+
+	currentMaxBorrow, err := s.keeper.maxBorrow(ctx, borrowerAddr, msg.Denom, false)
+	if err != nil {
+		return nil, err
+	}
+	historicMaxBorrow, err := s.keeper.maxBorrow(ctx, borrowerAddr, msg.Denom, true)
+	if err != nil {
+		return nil, err
+	}
+
+	maxBorrow := sdk.NewCoin(
+		msg.Denom,
+		sdk.MinInt(currentMaxBorrow.Amount, historicMaxBorrow.Amount),
+	)
+	if maxBorrow.IsZero() {
+		return nil, types.ErrMaxBorrowZero
+	}
+
+	if err := s.keeper.Borrow(ctx, borrowerAddr, maxBorrow); err != nil {
+		return nil, err
+	}
+
+	// Fail here if borrower ends up over their borrow limit under current or historic prices
+	err = s.keeper.assertBorrowerHealth(ctx, borrowerAddr)
+	if err != nil {
+		return nil, err
+	}
+
+	// Check MaxSupplyUtilization after transaction
+	if err = s.keeper.checkSupplyUtilization(ctx, maxBorrow.Denom); err != nil {
+		return nil, err
+	}
+
+	// Check MinCollateralLiquidity is still satisfied after the transaction
+	if err = s.keeper.checkCollateralLiquidity(ctx, maxBorrow.Denom); err != nil {
+		return nil, err
+	}
+
+	s.keeper.Logger(ctx).Debug(
+		"assets borrowed",
+		"borrower", msg.Borrower,
+		"amount", maxBorrow.String(),
+	)
+	err = ctx.EventManager().EmitTypedEvent(&types.EventBorrow{
+		Borrower: msg.Borrower,
+		Asset:    maxBorrow,
+	})
+	return &types.MsgMaxBorrowResponse{
+		Borrowed: maxBorrow,
+	}, err
+}
+
 func (s msgServer) Repay(
 	goCtx context.Context,
 	msg *types.MsgRepay,

x/leverage/keeper/msg_server_test.go

@@ -1248,6 +1248,138 @@ func (s *IntegrationTestSuite) TestMsgBorrow() {
 	}
 }
 
+func (s *IntegrationTestSuite) TestMsgMaxBorrow() {
+	type testCase struct {
+		msg  string
+		addr sdk.AccAddress
+		coin sdk.Coin
+		err  error
+	}
+
+	app, ctx, srv, require := s.app, s.ctx, s.msgSrvr, s.Require()
+
+	// create and fund a supplier which supplies 100 UMEE and 100 ATOM
+	supplier := s.newAccount(coin(umeeDenom, 100_000000), coin(atomDenom, 100_000000))
+	s.supply(supplier, coin(umeeDenom, 100_000000), coin(atomDenom, 100_000000))
+
+	// create a borrower which supplies and collateralizes 100 ATOM
+	borrower := s.newAccount(coin(atomDenom, 100_000000))
+	s.supply(borrower, coin(atomDenom, 100_000000))
+	s.collateralize(borrower, coin("u/"+atomDenom, 100_000000))
+
+	// create an additional supplier (DUMP, PUMP tokens)
+	surplus := s.newAccount(coin(dumpDenom, 100_000000), coin(pumpDenom, 100_000000))
+	s.supply(surplus, coin(pumpDenom, 100_000000))
+	s.supply(surplus, coin(dumpDenom, 100_000000))
+
+	// this will be a DUMP (historic price 1.00, current price 0.50) borrower
+	// using PUMP (historic price 1.00, current price 2.00) collateral
+	dumpborrower := s.newAccount(coin(pumpDenom, 100_000000))
+	s.supply(dumpborrower, coin(pumpDenom, 100_000000))
+	s.collateralize(dumpborrower, coin("u/"+pumpDenom, 100_000000))
+	// collateral value is $200 (current) or $100 (historic)
+	// collateral weights are always 0.25 in testing
+
+	// this will be a PUMP (historic price 1.00, current price 2.00) borrower
+	// using DUMP (historic price 1.00, current price 0.50) collateral
+	pumpborrower := s.newAccount(coin(dumpDenom, 100_000000))
+	s.supply(pumpborrower, coin(dumpDenom, 100_000000))
+	s.collateralize(pumpborrower, coin("u/"+dumpDenom, 100_000000))
+	// collateral value is $50 (current) or $100 (historic)
+	// collateral weights are always 0.25 in testing
+
+	tcs := []testCase{
+		{
+			"uToken",
+			borrower,
+			coin("u/"+umeeDenom, 0),
+			types.ErrUToken,
+		},
+		{
+			"unregistered token",
+			borrower,
+			coin("abcd", 0),
+			types.ErrNotRegisteredToken,
+		},
+		{
+			"zero collateral",
+			supplier,
+			coin(atomDenom, 0),
+			types.ErrMaxBorrowZero,
+		},
+		{
+			"atom borrow",
+			borrower,
+			coin(atomDenom, 25_000000),
+			nil,
+		},
+		{
+			"already borrowed max",
+			borrower,
+			coin(atomDenom, 0),
+			types.ErrMaxBorrowZero,
+		},
+		{
+			"dump borrower",
+			dumpborrower,
+			coin(dumpDenom, 25_000000),
+			nil,
+		},
+		{
+			"pump borrower",
+			pumpborrower,
+			coin(pumpDenom, 6_250000),
+			nil,
+		},
+	}
+
+	for _, tc := range tcs {
+		msg := &types.MsgMaxBorrow{
+			Borrower: tc.addr.String(),
+			Denom:    tc.coin.Denom,
+		}
+		if tc.err != nil {
+			_, err := srv.MaxBorrow(ctx, msg)
+			require.ErrorIs(err, tc.err, tc.msg)
+		} else {
+			// initial state
+			iBalance := app.BankKeeper.GetAllBalances(ctx, tc.addr)
+			iCollateral := app.LeverageKeeper.GetBorrowerCollateral(ctx, tc.addr)
+			iUTokenSupply := app.LeverageKeeper.GetAllUTokenSupply(ctx)
+			iExchangeRate := app.LeverageKeeper.DeriveExchangeRate(ctx, tc.coin.Denom)
+			iBorrowed := app.LeverageKeeper.GetBorrowerBorrows(ctx, tc.addr)
+
+			// verify the output of borrow function
+			resp, err := srv.MaxBorrow(ctx, msg)
+			require.NoError(err, tc.msg)
+			require.Equal(&types.MsgMaxBorrowResponse{
+				Borrowed: tc.coin,
+			}, resp, tc.msg)
+
+			// final state
+			fBalance := app.BankKeeper.GetAllBalances(ctx, tc.addr)
+			fCollateral := app.LeverageKeeper.GetBorrowerCollateral(ctx, tc.addr)
+			fUTokenSupply := app.LeverageKeeper.GetAllUTokenSupply(ctx)
+			fExchangeRate := app.LeverageKeeper.DeriveExchangeRate(ctx, tc.coin.Denom)
+			fBorrowed := app.LeverageKeeper.GetBorrowerBorrows(ctx, tc.addr)
+
+			// verify token balance is increased by expected amount
+			require.Equal(iBalance.Add(tc.coin), fBalance, tc.msg, "balances")
+			// verify uToken collateral unchanged
+			require.Equal(iCollateral, fCollateral, tc.msg, "collateral")
+			// verify uToken supply is unchanged
+			require.Equal(iUTokenSupply, fUTokenSupply, tc.msg, "uToken supply")
+			// verify uToken exchange rate is unchanged
+			require.Equal(iExchangeRate, fExchangeRate, tc.msg, "uToken exchange rate")
+			// verify borrowed coins increased by expected amount
+			require.Equal(iBorrowed.Add(tc.coin), fBorrowed, "borrowed coins")
+
+			// check all available invariants
+			s.checkInvariants(tc.msg)
+		}
+	}
+}
+
 func (s *IntegrationTestSuite) TestMsgRepay() {
 	type testCase struct {
 		msg           string

x/leverage/types/codec.go

@@ -37,6 +37,7 @@ func RegisterLegacyAminoCodec(cdc *codec.LegacyAmino) {
 	cdc.RegisterConcrete(&MsgGovUpdateRegistry{}, "umee/leverage/MsgGovUpdateRegistry", nil)
 	cdc.RegisterConcrete(&MsgSupplyCollateral{}, "umee/leverage/MsgSupplyCollateral", nil)
 	cdc.RegisterConcrete(&MsgMaxWithdraw{}, "umee/leverage/MsgMaxWithdraw", nil)
+	cdc.RegisterConcrete(&MsgMaxBorrow{}, "umee/leverage/MsgMaxBorrow", nil)
 }
 
 func RegisterInterfaces(registry cdctypes.InterfaceRegistry) {
@@ -52,6 +53,7 @@ func RegisterInterfaces(registry cdctypes.InterfaceRegistry) {
 		&MsgGovUpdateRegistry{},
 		&MsgSupplyCollateral{},
 		&MsgMaxWithdraw{},
+		&MsgMaxBorrow{},
 	)
 
 	registry.RegisterImplementations(

x/leverage/types/errors.go

@@ -37,6 +37,7 @@ var (
 	ErrLiquidationIneligible = sdkerrors.Register(ModuleName, 403, "borrower not eligible for liquidation")
 	ErrMaxWithdrawZero       = sdkerrors.Register(ModuleName, 404, "max withdraw amount was zero")
 	ErrNoHistoricMedians     = sdkerrors.Register(ModuleName, 405, "insufficient historic medians available")
+	ErrMaxBorrowZero         = sdkerrors.Register(ModuleName, 406, "max borrow amount was zero")
 
 	// 5XX = Market Conditions
 	ErrLendingPoolInsufficient = sdkerrors.Register(ModuleName, 500, "lending pool insufficient")