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[Liquidity Mining] Math for reward accrual (3) #200

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Mar 14, 2025
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49a6c03
Creating data structures for LM
vanitymnm Feb 25, 2025
aa13771
Adding admin IXs for LM reward management
vanitymnm Feb 25, 2025
0abe52c
Document accounts for admin IXs
vanitymnm Feb 25, 2025
4e4694b
Checking that token vault is empty and belogs to the token program
vanitymnm Feb 25, 2025
9d0c84c
Note on running out of IDs
vanitymnm Feb 26, 2025
eff2b19
Removing libssl1.1 dependency as it can no longer be installed on CI
vanitymnm Feb 26, 2025
df22c76
Merge branch 'ci/libssl-fix' into feat/lm-state-intro
vanitymnm Feb 26, 2025
6a51385
Improving clarity of PositionKind unpacking
vanitymnm Feb 26, 2025
fd22173
Describing what LM is
vanitymnm Feb 26, 2025
8ee16b0
Improving documentation and wording
vanitymnm Feb 26, 2025
d184804
Merge branch 'feat/lm-state-intro' into feat/lm-admin-ix-accounts
vanitymnm Feb 26, 2025
7a4b404
Removing duplicate code
vanitymnm Feb 26, 2025
9637228
Adding math for reward accrual
vanitymnm Feb 28, 2025
ef72f92
Improving comments wording
vanitymnm Feb 28, 2025
7833ca2
Fixing error names
vanitymnm Feb 28, 2025
2a28819
Merge branch 'feat/lm-admin-ix-accounts' into feat/lm-reward-accruing
vanitymnm Mar 5, 2025
6217267
Merge branch 'feat/liquidity-mining' into feat/lm-state-intro
vanitymnm Mar 14, 2025
95343e6
Merge branch 'feat/lm-state-intro' into feat/lm-admin-ix-accounts
vanitymnm Mar 14, 2025
a4d235b
Merge branch 'feat/liquidity-mining' into feat/lm-admin-ix-accounts
vanitymnm Mar 14, 2025
dc24e8e
Merge branch 'feat/lm-admin-ix-accounts' into feat/lm-reward-accruing
vanitymnm Mar 14, 2025
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5 changes: 2 additions & 3 deletions token-lending/program/src/processor/liquidity_mining.rs
Original file line number Diff line number Diff line change
Expand Up @@ -38,9 +38,6 @@ use solend_sdk::{
use spl_token::state::Account as TokenAccount;
use std::convert::TryInto;

/// Cannot create a reward shorter than this.
const MIN_REWARD_PERIOD_SECS: u64 = 3_600;

/// # Accounts
///
/// See [add_pool_reward::AddPoolRewardAccounts::from_unchecked_iter] for a list
Expand Down Expand Up @@ -252,6 +249,8 @@ fn reward_vault_authority_seeds<'keys>(
}

mod add_pool_reward {
use solend_sdk::state::MIN_REWARD_PERIOD_SECS;

use super::*;

/// Use [Self::new] to validate the parameters.
Expand Down
194 changes: 190 additions & 4 deletions token-lending/sdk/src/state/liquidity_mining.rs
Original file line number Diff line number Diff line change
@@ -1,5 +1,11 @@
use crate::math::Decimal;
use solana_program::pubkey::Pubkey;
use crate::{
error::LendingError,
math::{Decimal, TryAdd, TryDiv, TryMul, TrySub},
};
use solana_program::{clock::Clock, program_error::ProgramError, pubkey::Pubkey};

/// Cannot create a reward shorter than this.
pub const MIN_REWARD_PERIOD_SECS: u64 = 3_600;

/// Determines the size of [PoolRewardManager]
/// TODO: This should be configured when we're dealing with migrations later but we should aim for 50.
Expand Down Expand Up @@ -28,8 +34,8 @@ pub struct PoolRewardManager {
/// 1. Consider the associated slot locked forever
/// 2. Go back to 0.
///
/// Given that one reward lasts at least 1 hour we've got at least half a
/// million years before we need to worry about wrapping in a single slot.
/// Given that one reward lasts at [MIN_REWARD_PERIOD_SECS] we've got at least
/// half a million years before we need to worry about wrapping in a single slot.
/// I'd call that someone else's problem.
#[derive(Clone, Copy, Debug, Default, PartialEq, Eq)]
pub struct PoolRewardId(pub u32);
Expand Down Expand Up @@ -127,8 +133,158 @@ pub struct UserReward {
pub cumulative_rewards_per_share: Decimal,
}

impl PoolRewardManager {
/// Should be updated before any interaction with rewards.
fn update(&mut self, clock: &Clock) -> Result<(), ProgramError> {
let curr_unix_timestamp_secs = clock.unix_timestamp as u64;

if self.last_update_time_secs >= curr_unix_timestamp_secs {
return Ok(());
}

if self.total_shares == 0 {
self.last_update_time_secs = curr_unix_timestamp_secs;
return Ok(());
}

let last_update_time_secs = self.last_update_time_secs;

// get rewards that started already and did not finish yet
let running_rewards = self
.pool_rewards
.iter_mut()
.filter_map(|r| match r {
PoolRewardSlot::Occupied(reward) => Some(reward),
_ => None,
})
.filter(|r| curr_unix_timestamp_secs > r.start_time_secs)
.filter(|r| last_update_time_secs < (r.start_time_secs + r.duration_secs as u64));

for reward in running_rewards {
let end_time_secs = reward.start_time_secs + reward.duration_secs as u64;
let time_passed_secs = curr_unix_timestamp_secs
.min(end_time_secs)
.checked_sub(reward.start_time_secs.max(last_update_time_secs))
.ok_or(LendingError::MathOverflow)?;

// When adding a reward we assert that a reward lasts for at least [MIN_REWARD_PERIOD_SECS].
// Hence this won't error on overflow nor on division by zero.
let unlocked_rewards = Decimal::from(reward.total_rewards)
.try_mul(Decimal::from(time_passed_secs))?
.try_div(Decimal::from(end_time_secs - reward.start_time_secs))?;

reward.allocated_rewards = reward.allocated_rewards.try_add(unlocked_rewards)?;

reward.cumulative_rewards_per_share = reward
.cumulative_rewards_per_share
.try_add(unlocked_rewards.try_div(Decimal::from(self.total_shares))?)?;
}

self.last_update_time_secs = curr_unix_timestamp_secs;

Ok(())
}
}

enum CreatingNewUserRewardManager {
/// If we are creating a [UserRewardManager] then we want to populate it.
Yes,
No,
}

impl UserRewardManager {
/// Should be updated before any interaction with rewards.
///
/// # Assumption
/// Invoker has checked that this [PoolRewardManager] matches the
/// [UserRewardManager].
fn update(
&mut self,
pool_reward_manager: &mut PoolRewardManager,
clock: &Clock,
creating_new_reward_manager: CreatingNewUserRewardManager,
) -> Result<(), ProgramError> {
pool_reward_manager.update(clock)?;

let curr_unix_timestamp_secs = clock.unix_timestamp as u64;

if matches!(
creating_new_reward_manager,
CreatingNewUserRewardManager::No
) && curr_unix_timestamp_secs == self.last_update_time_secs
{
return Ok(());
}

self.rewards
.resize_with(pool_reward_manager.pool_rewards.len(), || None);

for (reward_index, pool_reward) in pool_reward_manager.pool_rewards.iter_mut().enumerate() {
let PoolRewardSlot::Occupied(pool_reward) = pool_reward else {
// no reward to track
continue;
};

let end_time_secs = pool_reward.start_time_secs + pool_reward.duration_secs as u64;

match self.rewards.get_mut(reward_index) {
None => unreachable!("We've just resized the rewards."),
Some(None) if self.last_update_time_secs > end_time_secs => {
// reward period ended, skip
}
Some(None) => {
// user did not yet start accruing rewards

let new_user_reward = UserReward {
pool_reward_id: pool_reward.id,
cumulative_rewards_per_share: pool_reward.cumulative_rewards_per_share,
earned_rewards: if self.last_update_time_secs <= pool_reward.start_time_secs
{
pool_reward
.cumulative_rewards_per_share
.try_mul(Decimal::from(self.share))?
} else {
debug_assert!(matches!(
creating_new_reward_manager,
CreatingNewUserRewardManager::Yes
));
Decimal::zero()
},
};

// we resized this vector to match the pool rewards
self.rewards[reward_index] = Some(new_user_reward);

pool_reward.num_user_reward_managers += 1;
}
Some(Some(user_reward)) => {
// user is already accruing rewards, add the difference

let new_reward_amount = pool_reward
.cumulative_rewards_per_share
.try_sub(user_reward.cumulative_rewards_per_share)?
.try_mul(Decimal::from(self.share))?;

user_reward.earned_rewards =
user_reward.earned_rewards.try_add(new_reward_amount)?;

user_reward.cumulative_rewards_per_share =
pool_reward.cumulative_rewards_per_share;
}
}
}

self.last_update_time_secs = curr_unix_timestamp_secs;

Ok(())
}
}

#[cfg(test)]
mod tests {
//! TODO: Rewrite these tests from their Suilend counterparts.
//! TODO: Calculate test coverage and add tests for missing branches.

use super::*;

#[test]
Expand All @@ -144,4 +300,34 @@ mod tests {
println!("assert {required_realloc} <= {MAX_REALLOC}");
assert!(required_realloc <= MAX_REALLOC);
}

#[test]
fn it_tests_pool_reward_manager_basic() {
// TODO: rewrite Suilend "test_pool_reward_manager_basic" test
}

#[test]
fn it_tests_pool_reward_manager_multiple_rewards() {
// TODO: rewrite Suilend "test_pool_reward_manager_multiple_rewards"
}

#[test]
fn it_tests_pool_reward_zero_share() {
// TODO: rewrite Suilend "test_pool_reward_manager_zero_share"
}

#[test]
fn it_tests_pool_reward_manager_auto_farm() {
// TODO: rewrite Suilend "test_pool_reward_manager_auto_farm"
}

#[test]
fn it_tests_add_too_many_pool_rewards() {
// TODO: rewrite Suilend "test_add_too_many_pool_rewards"
}

#[test]
fn it_tests_pool_reward_manager_cancel_and_close_regression() {
// TODO: rewrite Suilend "test_pool_reward_manager_cancel_and_close_regression"
}
}
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