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refactor: move network fee to swapping pallet
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@j4m1ef0rd
j4m1ef0rd committed Jul 1, 2024
1 parent 7bcc0cb commit 0291412
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Showing 16 changed files with 566 additions and 598 deletions.
2 changes: 1 addition & 1 deletion state-chain/cf-integration-tests/src/mock_runtime.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -274,7 +274,7 @@ impl ExtBuilder {
bitcoin_vault: Default::default(),
polkadot_vault: Default::default(),
environment: Default::default(),
liquidity_pools: Default::default(),
swapping: Default::default(),
system: Default::default(),
transaction_payment: Default::default(),
bitcoin_ingress_egress: Default::default(),
Expand Down
2 changes: 1 addition & 1 deletion state-chain/node/src/chain_spec.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -753,7 +753,7 @@ fn testnet_genesis(
// We can't use ..Default::default() here because chain tracking panics on default (by
// design). And the way ..Default::default() syntax works is that it generates the default
// value for the whole struct, not just the fields that are missing.
liquidity_pools: Default::default(),
swapping: Default::default(),
bitcoin_vault: Default::default(),
polkadot_vault: Default::default(),
system: Default::default(),
Expand Down
17 changes: 1 addition & 16 deletions state-chain/pallets/cf-pools/src/benchmarking.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -8,7 +8,6 @@ use cf_traits::{AccountRoleRegistry, LpBalanceApi};
use frame_benchmarking::v2::*;
use frame_support::{
assert_ok,
sp_runtime::traits::One,
traits::{EnsureOrigin, UnfilteredDispatchable},
};
use frame_system::{pallet_prelude::BlockNumberFor, RawOrigin};
Expand All @@ -32,20 +31,6 @@ fn new_lp_account<T: Chainflip + Config>() -> T::AccountId {
mod benchmarks {
use super::*;

#[benchmark]
fn update_buy_interval() {
let call = Call::<T>::update_buy_interval { new_buy_interval: BlockNumberFor::<T>::one() };

#[block]
{
assert_ok!(
call.dispatch_bypass_filter(T::EnsureGovernance::try_successful_origin().unwrap())
);
}

assert_eq!(FlipBuyInterval::<T>::get(), BlockNumberFor::<T>::one());
}

#[benchmark]
fn new_pool() {
let call = Call::<T>::new_pool {
Expand Down Expand Up @@ -199,7 +184,7 @@ mod benchmarks {
Some(0),
10_000,
));
assert_ok!(Pallet::<T>::swap_with_network_fee(STABLE_ASSET, Asset::Eth, 1_000));
assert_ok!(Pallet::<T>::swap_single_leg(STABLE_ASSET, Asset::Eth, 1_000));
let fee = 1_000;
let call = Call::<T>::set_pool_fees {
base_asset: Asset::Eth,
Expand Down
242 changes: 5 additions & 237 deletions state-chain/pallets/cf-pools/src/lib.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -7,24 +7,20 @@ use cf_amm::{
range_orders::{self, Liquidity},
PoolState,
};
use cf_chains::Chain;
use cf_primitives::{chains::assets::any, Asset, AssetAmount, SwapOutput, STABLE_ASSET};
use cf_primitives::{chains::assets::any, Asset, AssetAmount, STABLE_ASSET};
use cf_traits::{
impl_pallet_safe_mode, Chainflip, LpBalanceApi, NetworkFeeTaken, PoolApi, SwapQueueApi,
SwapType, SwappingApi,
impl_pallet_safe_mode, Chainflip, LpBalanceApi, PoolApi, SwapQueueApi, SwappingApi,
};
use frame_support::{
dispatch::GetDispatchInfo,
pallet_prelude::*,
sp_runtime::{Permill, Saturating, TransactionOutcome},
storage::{with_storage_layer, with_transaction_unchecked},
traits::{Defensive, OriginTrait, StorageVersion, UnfilteredDispatchable},
storage::with_storage_layer,
traits::{OriginTrait, StorageVersion, UnfilteredDispatchable},
transactional,
};

use frame_system::pallet_prelude::OriginFor;
use serde::{Deserialize, Serialize};
use sp_arithmetic::traits::{UniqueSaturatedInto, Zero};
use sp_std::{boxed::Box, collections::btree_set::BTreeSet, vec::Vec};

pub use pallet::*;
Expand Down Expand Up @@ -121,7 +117,7 @@ impl<T> AskBidMap<T> {
}
}

pub const PALLET_VERSION: StorageVersion = StorageVersion::new(4);
pub const PALLET_VERSION: StorageVersion = StorageVersion::new(5);

#[frame_support::pallet]
pub mod pallet {
Expand Down Expand Up @@ -259,9 +255,6 @@ pub mod pallet {

type SwapQueueApi: SwapQueueApi;

#[pallet::constant]
type NetworkFee: Get<Permill>;

/// Safe Mode access.
type SafeMode: Get<PalletSafeMode>;

Expand All @@ -278,14 +271,6 @@ pub mod pallet {
#[pallet::storage]
pub type Pools<T: Config> = StorageMap<_, Twox64Concat, AssetPair, Pool<T>, OptionQuery>;

/// Interval at which we buy FLIP in order to burn it.
#[pallet::storage]
pub(super) type FlipBuyInterval<T: Config> = StorageValue<_, BlockNumberFor<T>, ValueQuery>;

/// Network fees, in USDC terms, that have been collected and are ready to be converted to FLIP.
#[pallet::storage]
pub type CollectedNetworkFee<T: Config> = StorageValue<_, AssetAmount, ValueQuery>;

/// Queue of limit orders, indexed by block number waiting to get minted or burned.
#[pallet::storage]
pub(super) type ScheduledLimitOrderUpdates<T: Config> =
Expand All @@ -297,54 +282,10 @@ pub mod pallet {
pub(super) type MaximumPriceImpact<T: Config> =
StorageMap<_, Twox64Concat, AssetPair, u32, OptionQuery>;

#[pallet::genesis_config]
pub struct GenesisConfig<T: Config> {
pub flip_buy_interval: BlockNumberFor<T>,
}

#[pallet::genesis_build]
impl<T: Config> BuildGenesisConfig for GenesisConfig<T> {
fn build(&self) {
FlipBuyInterval::<T>::set(self.flip_buy_interval);
}
}

impl<T: Config> Default for GenesisConfig<T> {
fn default() -> Self {
Self { flip_buy_interval: BlockNumberFor::<T>::zero() }
}
}

#[pallet::hooks]
impl<T: Config> Hooks<BlockNumberFor<T>> for Pallet<T> {
fn on_initialize(current_block: BlockNumberFor<T>) -> Weight {
let mut weight_used: Weight = T::DbWeight::get().reads(1);
let interval = FlipBuyInterval::<T>::get();
if interval.is_zero() {
log::debug!("Flip buy interval is zero, skipping.")
} else {
weight_used.saturating_accrue(T::DbWeight::get().reads(1));
if (current_block % interval).is_zero() &&
!CollectedNetworkFee::<T>::get().is_zero()
{
weight_used.saturating_accrue(T::DbWeight::get().reads_writes(1, 1));
if let Err(e) = CollectedNetworkFee::<T>::try_mutate(|collected_fee| {
T::SwapQueueApi::schedule_swap(
any::Asset::Usdc,
any::Asset::Flip,
*collected_fee,
None, /* refund parameters */
SwapType::NetworkFee,
);
collected_fee.set_zero();
Ok::<_, DispatchError>(())
}) {
log::warn!("Unable to swap Network Fee to Flip: {e:?}");
}
}
}

weight_used.saturating_accrue(T::DbWeight::get().reads(1));
for LimitOrderUpdate { ref lp, id, call } in
ScheduledLimitOrderUpdates::<T>::take(current_block)
{
Expand Down Expand Up @@ -373,8 +314,6 @@ pub mod pallet {

#[pallet::error]
pub enum Error<T> {
/// Setting the buy interval to zero is not allowed.
ZeroBuyIntervalNotAllowed,
/// The specified exchange pool already exists.
PoolAlreadyExists,
/// The specified exchange pool does not exist.
Expand Down Expand Up @@ -419,9 +358,6 @@ pub mod pallet {
#[pallet::event]
#[pallet::generate_deposit(pub(super) fn deposit_event)]
pub enum Event<T: Config> {
UpdatedBuyInterval {
buy_interval: BlockNumberFor<T>,
},
NewPoolCreated {
base_asset: Asset,
quote_asset: Asset,
Expand Down Expand Up @@ -493,29 +429,6 @@ pub mod pallet {

#[pallet::call]
impl<T: Config> Pallet<T> {
/// Updates the buy interval.
///
/// ## Events
///
/// - [UpdatedBuyInterval](Event::UpdatedBuyInterval)
///
/// ## Errors
///
/// - [BadOrigin](frame_system::BadOrigin)
/// - [ZeroBuyIntervalNotAllowed](pallet_cf_pools::Error::ZeroBuyIntervalNotAllowed)
#[pallet::call_index(0)]
#[pallet::weight(T::WeightInfo::update_buy_interval())]
pub fn update_buy_interval(
origin: OriginFor<T>,
new_buy_interval: BlockNumberFor<T>,
) -> DispatchResult {
T::EnsureGovernance::ensure_origin(origin)?;
ensure!(new_buy_interval != Zero::zero(), Error::<T>::ZeroBuyIntervalNotAllowed);
FlipBuyInterval::<T>::set(new_buy_interval);
Self::deposit_event(Event::<T>::UpdatedBuyInterval { buy_interval: new_buy_interval });
Ok(())
}

/// Create a new pool.
/// Requires Governance.
///
Expand Down Expand Up @@ -1006,17 +919,6 @@ pub mod pallet {
}

impl<T: Config> SwappingApi for Pallet<T> {
fn take_network_fee(input: AssetAmount) -> NetworkFeeTaken {
if input.is_zero() {
return NetworkFeeTaken { remaining_amount: 0, network_fee: 0 };
}
let (remaining, fee) = utilities::calculate_network_fee(T::NetworkFee::get(), input);
CollectedNetworkFee::<T>::mutate(|total| {
total.saturating_accrue(fee);
});
NetworkFeeTaken { remaining_amount: remaining, network_fee: fee }
}

#[transactional]
fn swap_single_leg(
from: any::Asset,
Expand Down Expand Up @@ -1573,47 +1475,6 @@ impl<T: Config> Pallet<T> {
})
}

#[allow(clippy::type_complexity)]
#[transactional]
pub fn swap_with_network_fee(
from: any::Asset,
to: any::Asset,
input_amount: AssetAmount,
) -> Result<SwapOutput, DispatchError> {
Ok(match (from, to) {
(_, STABLE_ASSET) => {
let NetworkFeeTaken { remaining_amount: output, network_fee } =
Self::take_network_fee(Self::swap_single_leg(from, to, input_amount)?);

SwapOutput { intermediary: None, output, network_fee }
},
(STABLE_ASSET, _) => {
let NetworkFeeTaken { remaining_amount: input_amount, network_fee } =
Self::take_network_fee(input_amount);

SwapOutput {
intermediary: None,
output: Self::swap_single_leg(from, to, input_amount)?,
network_fee,
}
},
_ => {
let NetworkFeeTaken { remaining_amount: intermediary, network_fee } =
Self::take_network_fee(Self::swap_single_leg(
from,
STABLE_ASSET,
input_amount,
)?);

SwapOutput {
intermediary: Some(intermediary),
output: Self::swap_single_leg(STABLE_ASSET, to, intermediary)?,
network_fee,
}
},
})
}

fn try_mutate_pool<
R,
E: From<pallet::Error<T>>,
Expand Down Expand Up @@ -2029,96 +1890,3 @@ impl<T: Config> Pallet<T> {
Ok(())
}
}

impl<T: Config> cf_traits::AssetConverter for Pallet<T> {
fn calculate_input_for_gas_output<C: Chain>(
input_asset: C::ChainAsset,
required_gas: C::ChainAmount,
) -> Option<C::ChainAmount> {
use frame_support::sp_runtime::helpers_128bit::multiply_by_rational_with_rounding;

if required_gas.is_zero() {
return Some(Zero::zero())
}

let output_asset = C::GAS_ASSET.into();
let input_asset = input_asset.into();
if input_asset == output_asset {
return Some(required_gas)
}

let estimation_input = utilities::fee_estimation_basis(input_asset).defensive_proof(
"Fee estimation cap not available. Please report this to Chainflip Labs.",
)?;

let estimation_output = with_transaction_unchecked(|| {
TransactionOutcome::Rollback(
Self::swap_with_network_fee(input_asset, output_asset, estimation_input).ok(),
)
})?
.output;

if estimation_output == 0 {
None
} else {
let input_amount_to_convert = multiply_by_rational_with_rounding(
required_gas.into(),
estimation_input,
estimation_output,
sp_arithmetic::Rounding::Down,
)
.defensive_proof(
"Unexpected overflow occurred during asset conversion. Please report this to Chainflip Labs."
)?;

Some(input_amount_to_convert.unique_saturated_into())
}
}
}

pub mod utilities {
use super::*;

pub fn calculate_network_fee(
fee_percentage: Permill,
input: AssetAmount,
) -> (AssetAmount, AssetAmount) {
let fee = fee_percentage * input;
(input - fee, fee)
}

/// The amount of a non-gas asset to be used for transaction fee estimation.
///
/// This should be of a similar order of magnitude to expected fees to get an accurate result.
///
/// The value should be large enough to allow a good estimation of the fee, but small enough
/// to not exhaust the pool liquidity.
///
/// ```
/// use pallet_cf_pools::utilities::fee_estimation_basis;
/// use cf_primitives::Asset;
///
/// for asset in Asset::all() {
/// if !asset.is_gas_asset() {
/// assert!(
/// fee_estimation_basis(asset).is_some(),
/// "No fee estimation cap defined for {:?}. Add one to the fee_estimation_basis function definition.",
/// asset,
/// );
/// }
/// }
/// ```
pub fn fee_estimation_basis(asset: Asset) -> Option<u128> {
use cf_primitives::FLIPPERINOS_PER_FLIP;
/// 20 Dollars.
const USD_ESTIMATION_CAP: u128 = 20_000_000;

match asset {
Asset::Flip => Some(10 * FLIPPERINOS_PER_FLIP),
Asset::Usdc => Some(USD_ESTIMATION_CAP),
Asset::Usdt => Some(USD_ESTIMATION_CAP),
Asset::ArbUsdc => Some(USD_ESTIMATION_CAP),
_ => None,
}
}
}
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