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update getTargetFeesAndTaxes #63

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merged 3 commits into from
Oct 28, 2024
Merged

update getTargetFeesAndTaxes #63

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0bc4046
update getTargetFeesAndTaxes
solidoracle Oct 28, 2024
d5b1424
update poolPnl for unfactored event
solidoracle Oct 28, 2024
0f8848c
Add v1 and v2 for target fees
bengobeil Oct 28, 2024
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34 changes: 15 additions & 19 deletions bulla-contracts/src/functions/common.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -302,19 +302,17 @@ export const calculateTax = (poolAddress: Address, version: string, amount: BigI
};

export const getTargetFeesAndTaxes = (poolAddress: Address, version: string, invoiceId: BigInt): BigInt[] => {
const upfrontBps = getApprovedInvoiceUpfrontBps(poolAddress, version, invoiceId);

if (version == "v1") {
const targetFees = BullaFactoring.bind(poolAddress).calculateTargetFees(invoiceId, upfrontBps);
const targetInterest = targetFees.getTargetInterest();
const targetTax = calculateTax(poolAddress, version, targetInterest);
return [targetInterest, targetFees.getTargetProtocolFee(), targetFees.getAdminFee(), targetTax];
} else {
const targetFees = BullaFactoringv2.bind(poolAddress).calculateTargetFees(invoiceId, upfrontBps);
const targetInterest = targetFees.getTargetInterest();
const targetTax = calculateTax(poolAddress, version, targetInterest);
return [targetInterest, targetFees.getTargetProtocolFee(), targetFees.getAdminFee(), targetTax];
}
const approvedInvoice = BullaFactoring.bind(poolAddress).approvedInvoices(invoiceId);
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const grossAmount = approvedInvoice.getFundedAmountGross();
const netAmount = approvedInvoice.getFundedAmountNet();
const targetFees = grossAmount.minus(netAmount);
const adminFee = approvedInvoice.getAdminFee();
const protocolPlusGrossInterest = targetFees.minus(adminFee);
const protocolFeeBps = BigInt.fromI32(BullaFactoring.bind(poolAddress).protocolFeeBps());
const protocolFee = protocolFeeBps.times(protocolPlusGrossInterest).div(BigInt.fromI32(10_000).plus(protocolFeeBps));
const grossInterest = protocolPlusGrossInterest.minus(protocolFee);
const tax = calculateTax(poolAddress, version, grossInterest);
return [grossInterest, protocolFee, adminFee, tax];
};

// For compatibility with InvoiceReconciled for v1 fees
Expand All @@ -323,19 +321,17 @@ export const getTrueFeesAndTaxesV1 = (poolAddress: Address, invoiceId: BigInt):
const adminFee = targetFees[2]; // in v1 realisedAdminFee = targetAdminFee
const paidTax = BullaFactoring.bind(poolAddress).paidInvoiceTax(invoiceId);
const trueInterest = BullaFactoring.bind(poolAddress).paidInvoicesGain(invoiceId);

/* we can't assume no kickback for V1, because they can repay a 100% upfront invoice early and get some of the targetInterest back.
So instead, let's do a rule of three:

targetProtocolFee trueProtocolFee
---------------------- = ---------------------
targetInterest (gross) trueInterestNet + paidTax
*/
const trueProcotolFee =
targetFees[1] // targetProcotolFee
.times((trueInterest.plus(paidTax)))
.div(targetFees[0]) // targetInterest

const trueProcotolFee = targetFees[1] // targetProcotolFee
.times(trueInterest.plus(paidTax))
.div(targetFees[0]); // targetInterest

return [trueInterest, trueProcotolFee, adminFee, paidTax];
};
5 changes: 4 additions & 1 deletion bulla-contracts/src/mappings/BullaFactoring.ts
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Expand Up @@ -179,7 +179,9 @@ export function handleInvoicePaid(event: InvoicePaid, version: string): void {
InvoiceReconciledEvent.priceAfterTransaction = latestPrice;
InvoiceReconciledEvent.claim = underlyingClaim.id;

original_creditor.factoringEvents = original_creditor.factoringEvents ? original_creditor.factoringEvents.concat([InvoiceReconciledEvent.id]) : [InvoiceReconciledEvent.id];
original_creditor.factoringEvents = original_creditor.factoringEvents
? original_creditor.factoringEvents.concat([InvoiceReconciledEvent.id])
: [InvoiceReconciledEvent.id];

InvoiceReconciledEvent.save();
original_creditor.save();
Expand Down Expand Up @@ -508,6 +510,7 @@ export function handleInvoiceImpaired(event: InvoiceImpaired, version: string):
InvoiceImpairedEvent.save();
price_per_share.save();
historical_factoring_statistics.save();
pool_pnl.save();
}

export function handleInvoiceImpairedV1(event: InvoiceImpaired): void {
Expand Down
18 changes: 7 additions & 11 deletions bulla-contracts/tests/BullaFactoring.test.ts
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Expand Up @@ -348,12 +348,12 @@ test("it handles InvoicePaid event for v2", () => {
assert.bigIntEquals(trueInterest, pnlHistoryEntry!.pnl);

const invoiceReconciledEventId = getInvoiceReconciledEventId(claimId, invoicePaidEvent);
assert.fieldEquals("InvoicePaidEvent", invoiceReconciledEventId, "invoiceId", invoicePaidEvent.params.invoiceId.toString());
assert.fieldEquals("InvoicePaidEvent", invoiceReconciledEventId, "trueInterest", invoicePaidEvent.params.trueInterest.toString());
assert.fieldEquals("InvoicePaidEvent", invoiceReconciledEventId, "trueAdminFee", invoicePaidEvent.params.adminFee.toString());
assert.fieldEquals("InvoicePaidEvent", invoiceReconciledEventId, "trueProtocolFee", invoicePaidEvent.params.trueProtocolFee.toString());
assert.fieldEquals("InvoicePaidEvent", invoiceReconciledEventId, "poolAddress", MOCK_BULLA_FACTORING_ADDRESS.toHexString());
assert.fieldEquals("InvoicePaidEvent", invoiceReconciledEventId, "claim", claimId.toString());
assert.fieldEquals("InvoiceReconciledEvent", invoiceReconciledEventId, "invoiceId", invoicePaidEvent.params.invoiceId.toString());
assert.fieldEquals("InvoiceReconciledEvent", invoiceReconciledEventId, "trueInterest", invoicePaidEvent.params.trueInterest.toString());
assert.fieldEquals("InvoiceReconciledEvent", invoiceReconciledEventId, "trueAdminFee", invoicePaidEvent.params.adminFee.toString());
assert.fieldEquals("InvoiceReconciledEvent", invoiceReconciledEventId, "trueProtocolFee", invoicePaidEvent.params.trueProtocolFee.toString());
assert.fieldEquals("InvoiceReconciledEvent", invoiceReconciledEventId, "poolAddress", MOCK_BULLA_FACTORING_ADDRESS.toHexString());
assert.fieldEquals("InvoiceReconciledEvent", invoiceReconciledEventId, "claim", claimId.toString());

log.info("✅ should create a InvoicePaid event", []);

Expand Down Expand Up @@ -418,9 +418,5 @@ test("it handles BullaFactoring v2 events and stores price history", () => {
assert.bigIntEquals(BigInt.fromI32(1100000), newPriceHistoryEntry!.price);
});


// exporting for test coverage
export {
handleClaimCreated, handleInvoiceFundedV2, handleInvoiceKickbackAmountSentV2, handleInvoicePaidV2, handleInvoiceUnfactoredV2
};

export { handleClaimCreated, handleInvoiceFundedV2, handleInvoiceKickbackAmountSentV2, handleInvoicePaidV2, handleInvoiceUnfactoredV2 };
64 changes: 64 additions & 0 deletions bulla-contracts/tests/helpers.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -144,6 +144,70 @@ export const setupContracts = (): void => {
ethereum.Value.fromI32(10000),
ethereum.Value.fromI32(10000)
]);

createMockedFunction(
MOCK_BULLA_FACTORING_ADDRESS,
"approvedInvoices",
"approvedInvoices(uint256):(bool,(uint256,address,address,uint256,address,uint256,bool),uint256,uint256,uint16,uint16,uint256,uint256,uint256,uint16,uint256)"
)
.withArgs([ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1))])
.returns([
ethereum.Value.fromBoolean(true),
ethereum.Value.fromTuple(
changetype<ethereum.Tuple>([
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)),
ethereum.Value.fromAddress(ADDRESS_1),
ethereum.Value.fromAddress(ADDRESS_1),
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)),
ethereum.Value.fromAddress(ADDRESS_1),
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)),
ethereum.Value.fromBoolean(false)
])
),
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // fundedAmountGross
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // fundedAmountNet
ethereum.Value.fromI32(9000), // upfrontBps
ethereum.Value.fromI32(10000), // adminFeeBps
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // adminFee
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // targetInterest
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // targetProtocolFee
ethereum.Value.fromI32(10000), // protocolFeeBps
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)) // timestamp
]);

// Add another mock for invoice ID 2
createMockedFunction(
MOCK_BULLA_FACTORING_ADDRESS,
"approvedInvoices",
"approvedInvoices(uint256):(bool,(uint256,address,address,uint256,address,uint256,bool),uint256,uint256,uint16,uint16,uint256,uint256,uint256,uint16,uint256)"
)
.withArgs([ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(2))])
.returns([
ethereum.Value.fromBoolean(true),
ethereum.Value.fromTuple(
changetype<ethereum.Tuple>([
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)),
ethereum.Value.fromAddress(ADDRESS_1),
ethereum.Value.fromAddress(ADDRESS_1),
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)),
ethereum.Value.fromAddress(ADDRESS_1),
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)),
ethereum.Value.fromBoolean(false)
])
),
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // fundedAmountGross
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // fundedAmountNet
ethereum.Value.fromI32(9000), // upfrontBps
ethereum.Value.fromI32(10000), // adminFeeBps
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // adminFee
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // targetInterest
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)), // targetProtocolFee
ethereum.Value.fromI32(10000), // protocolFeeBps
ethereum.Value.fromUnsignedBigInt(BigInt.fromI32(1000000)) // timestamp
]);

createMockedFunction(MOCK_BULLA_FACTORING_ADDRESS, "protocolFeeBps", "protocolFeeBps():(uint16)").returns([ethereum.Value.fromI32(500)]); // Example: 5% protocol fee (500 basis points)

updateFundInfoMock(BigInt.fromI32(10000), BigInt.fromI32(5000), BigInt.fromI32(15000));
};

Expand Down
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