FluidVaultBorrowRewards

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Inherits:Variables, Events, Error

This contract is designed to adjust the borrow rate magnifier for a vault based on the current debt borrow & borrow rate. The adjustment aims to dynamically scale the rewards given to lenders as the TVL in the vault changes The magnifier is adjusted based on a regular most used reward type where rewardRate = totalRewardsAnnually / totalborrow. Reward rate is applied by adjusting the borrow magnifier on vault. Adjustments are made via the rebalance function, which is restricted to be called by designated rebalancers only.

Functions

validAddress

Validates that an address is not the zero address

modifier validAddress(address value_);

onlyRebalancer

Validates that an address is a rebalancer (taken from reserve contract)

modifier onlyRebalancer();

constructor

Constructs the FluidVaultBorrowRewards contract.

constructor(
    IFluidReserveContract reserveContract_,
    IFluidVaultT1 vault_,
    IFluidLiquidity liquidity_,
    uint256 rewardsAmt_,
    uint256 duration_,
    address initiator_,
    address debtToken_,
    address governance_
)
    validAddress(address(reserveContract_))
    validAddress(address(liquidity_))
    validAddress(address(vault_))
    validAddress(initiator_)
    validAddress(address(debtToken_))
    validAddress(governance_);

Parameters

Name	Type	Description
reserveContract_	IFluidReserveContract	The address of the reserve contract where rebalancers are defined.
vault_	IFluidVaultT1	The vault to which this contract will apply new magnifier parameter.
liquidity_	IFluidLiquidity	Fluid liquidity address
rewardsAmt_	uint256	Amounts of rewards to distribute
duration_	uint256	rewards duration
initiator_	address	address that can start rewards with start()
debtToken_	address	vault debt token address
governance_	address	governance address

rebalance

Rebalances the borrow rate magnifier based on the current debt borrow. Can only be called by an authorized rebalancer.

function rebalance() external onlyRebalancer;

calculateBorrowMagnifier

Calculates the new borrow rate magnifier based on the current debt borrow (vaultTVL()).

function calculateBorrowMagnifier() public view returns (uint256 magnifier_, bool ended_);

Returns

Name	Type	Description
magnifier_	uint256	The calculated magnifier value.
ended_	bool

currentBorrowMagnifier

returns the currently configured borrow magnifier at the VAULT.

function currentBorrowMagnifier() public view returns (uint256);

vaultBorrowTVL

returns the current total value locked as debt (TVL) in the VAULT.

function vaultBorrowTVL() public view returns (uint256 tvl_);

getBorrowRate

Returns the current borrow rate from the liquidity contract.

function getBorrowRate() public view returns (uint256);

Returns

Name	Type	Description
<none>	uint256	The borrow rate as a uint256.

start

Starts the rewards at the current block timestamp.

function start() external;

startAt

Starts the rewards at a specified timestamp.

function startAt(uint256 startTime_) public;

Parameters

Name	Type	Description
startTime_	uint256	The timestamp at which to start the rewards.

queueNextRewards

Queues the next rewards with specified amount and duration.

This function can only be called by the governance address.

Reverts if the current rewards period has already ended.

function queueNextRewards(uint256 rewardsAmount_, uint256 duration_) external;

Parameters

Name	Type	Description
rewardsAmount_	uint256	The amount of rewards to be distributed.
duration_	uint256	The duration of the rewards program.