RebaseLogic
Provides pool's rebase functions
dripSeniorDebt
function dripSeniorDebt(struct DataTypes.Storage _poolStorage) public returns (uint256)
accumulates the senior interest
Return Values
| Name | Type | Description |
|---|
| [0] | uint256 | _seniorDebt the senior debt |
seniorDebt
function seniorDebt(struct DataTypes.Storage _poolStorage) public view returns (uint256 _seniorDebt)
returns the senior debt with up to date interest
Return Values
| Name | Type | Description |
|---|
| _seniorDebt | uint256 | senior debt |
rebase
function rebase(struct DataTypes.Storage _poolStorage, uint256 _nav, uint256 _reserve) public
This function is used to rebase the pool's assets. It updates the senior debt and balance based on the provided NAV and reserve values.
The expected senior asset is calculated using the calcExpectedSeniorAsset function, which takes into account the current senior balance and the dripped senior debt.
Parameters
| Name | Type | Description |
|---|
| _poolStorage | struct DataTypes.Storage | A reference to the pool's storage object. |
| _nav | uint256 | The new net asset value of the pool. |
| _reserve | uint256 | The amount of reserve in the pool. |
changeSeniorAsset
function changeSeniorAsset(struct DataTypes.Storage _poolStorage, uint256 _nav, uint256 _reserve, uint256 _seniorSupply, uint256 _seniorRedeem) external
Function to change senior asset parameters.
Parameters
| Name | Type | Description |
|---|
| _poolStorage | struct DataTypes.Storage | |
| _nav | uint256 | The new net asset value. |
| _reserve | uint256 | The new reserve amount. |
| _seniorSupply | uint256 | The new senior supply amount. |
| _seniorRedeem | uint256 | The new senior redeem amount. |
_rebase
function _rebase(uint256 _nav, uint256 _reserve, uint256 _seniorAsset) public pure returns (uint256, uint256)
This function re-balances the senior and junior assets according to the new ratio.
The senior asset will own all of its debt if it has more than 100% of the NAV, otherwise it will own what's left after subtracting the debt from the total senior asset.
Parameters
| Name | Type | Description |
|---|
| _nav | uint256 | The Net Asset Value of the pool. |
| _reserve | uint256 | The reserve amount in the pool. |
| _seniorAsset | uint256 | The current amount of senior assets in the pool. |
Return Values
| Name | Type | Description |
|---|
| [0] | uint256 | The new balance and debt for the senior asset after re-balancing. |
| [1] | uint256 | |
calcSeniorRatio
function calcSeniorRatio(uint256 seniorAsset, uint256 nav, uint256 reserve) public pure returns (uint256 seniorRatio)
calculates the senior ratio
Parameters
| Name | Type | Description |
|---|
| seniorAsset | uint256 | the current senior asset value |
| nav | uint256 | the current NAV |
| reserve | uint256 | the current reserve |
Return Values
| Name | Type | Description |
|---|
| seniorRatio | uint256 | the senior ratio |
calcExpectedSeniorAsset
function calcExpectedSeniorAsset(uint256 _seniorRedeem, uint256 _seniorSupply, uint256 _seniorBalance, uint256 _seniorDebt) public pure returns (uint256 expectedSeniorAsset)
expected senior return if no losses occur
Parameters
| Name | Type | Description |
|---|
| _seniorRedeem | uint256 | the senior redeem amount |
| _seniorSupply | uint256 | the senior supply amount |
| _seniorBalance | uint256 | the current senior balance |
| _seniorDebt | uint256 | the current senior debt |
Return Values
| Name | Type | Description |
|---|
| expectedSeniorAsset | uint256 | the expected senior asset value |
calcExpectedSeniorAsset
function calcExpectedSeniorAsset(uint256 _seniorDebt, uint256 _seniorBalance) public pure returns (uint256 seniorAsset)
calculates the expected Senior asset value
Parameters
| Name | Type | Description |
|---|
| _seniorDebt | uint256 | the current senior debt |
| _seniorBalance | uint256 | the current senior balance |
Return Values
| Name | Type | Description |
|---|
| seniorAsset | uint256 | returns the senior asset value |
calcSeniorTokenPrice
function calcSeniorTokenPrice(uint256 _nav, uint256 _reserve, uint256 _seniorDebt, uint256 _seniorBalance, uint256 _sotTotalSupply) external pure returns (uint256 seniorTokenPrice)
Calculates the price per Senior Token based on various parameters
This calculation ensures fair distribution of rewards to seniors
Parameters
| Name | Type | Description |
|---|
| _nav | uint256 | The Net Asset Value |
| _reserve | uint256 | The reserve amount |
| _seniorDebt | uint256 | The senior debt amount |
| _seniorBalance | uint256 | The balance of the senior tokens |
| _sotTotalSupply | uint256 | The total supply of SOT (Senior Token) |
Return Values
| Name | Type | Description |
|---|
| seniorTokenPrice | uint256 | The price per Senior Token |
calcJuniorTokenPrice
function calcJuniorTokenPrice(uint256 _nav, uint256 _reserve, uint256 _seniorDebt, uint256 _seniorBalance, uint256 _jotTotalSupply) external pure returns (uint256 juniorTokenPrice)
Calculates the junior token price
Parameters
| Name | Type | Description |
|---|
| _nav | uint256 | the NAV |
| _reserve | uint256 | the reserve |
| _seniorDebt | uint256 | the senior debt |
| _seniorBalance | uint256 | the senior balance |
| _jotTotalSupply | uint256 | the total supply of junior tokens |
Return Values
| Name | Type | Description |
|---|
| juniorTokenPrice | uint256 | the junior token price in RAY decimal (10^27) |
calcTokenPrices
function calcTokenPrices(uint256 _nav, uint256 _reserve, uint256 _seniorDebt, uint256 _seniorBalance, uint256 _jotTotalSupply, uint256 _sotTotalSupply) external pure returns (uint256 juniorTokenPrice, uint256 seniorTokenPrice)
Calculates the price of junior and senior tokens.
Parameters
| Name | Type | Description |
|---|
| _nav | uint256 | The nav value. |
| _reserve | uint256 | The reserve value. |
| _seniorDebt | uint256 | The senior debt value. |
| _seniorBalance | uint256 | The senior balance value. |
| _jotTotalSupply | uint256 | Total supply of JOT tokens. |
| _sotTotalSupply | uint256 | Total supply of SOT tokens. |
Return Values
| Name | Type | Description |
|---|
| juniorTokenPrice | uint256 | Price of the junior token. |
| seniorTokenPrice | uint256 | Price of the senior token. |
_calcSeniorTokenPrice
function _calcSeniorTokenPrice(uint256 _nav, uint256 _reserve, uint256 _seniorDebt, uint256 _seniorBalance, uint256 _sotTotalSupply) internal pure returns (uint256 seniorTokenPrice)
internal function to calculate the senior token price
Parameters
| Name | Type | Description |
|---|
| _nav | uint256 | the NAV |
| _reserve | uint256 | the reserve |
| _seniorDebt | uint256 | the senior debt |
| _seniorBalance | uint256 | the senior balance |
| _sotTotalSupply | uint256 | the token supply |
Return Values
| Name | Type | Description |
|---|
| seniorTokenPrice | uint256 | the senior token price in RAY decimal (10^27) |
_calcJuniorTokenPrice
function _calcJuniorTokenPrice(uint256 _nav, uint256 _reserve, uint256 _seniorDebt, uint256 _seniorBalance, uint256 _jotTotalSupply) internal pure returns (uint256 juniorTokenPrice)
internal function to calculate the junior token price
Parameters
| Name | Type | Description |
|---|
| _nav | uint256 | the NAV |
| _reserve | uint256 | the reserve |
| _seniorDebt | uint256 | the senior debt |
| _seniorBalance | uint256 | the senior balance |
| _jotTotalSupply | uint256 | the token supply |
Return Values
| Name | Type | Description |
|---|
| juniorTokenPrice | uint256 | the junior token price in RAY decimal (10^27) |
calcJuniorRatio
function calcJuniorRatio(uint256 _nav, uint256 _reserve, uint256 _seniorDebt, uint256 _seniorBalance) external pure returns (uint256 juniorRatio_)
Calculates junior ratio based on NAV, reserve, senior debt and senior balance.
Uses safe arithmetic operations to prevent overflows or underflows.
Parameters
| Name | Type | Description |
|---|
| _nav | uint256 | The Net Asset Value of the portfolio. |
| _reserve | uint256 | The amount of funds that are currently in the reserve. |
| _seniorDebt | uint256 | The total debt owed by senior holders. |
| _seniorBalance | uint256 | The balance of assets held by senior holders. |
Return Values
| Name | Type | Description |
|---|
| juniorRatio_ | uint256 | The calculated junior ratio. |