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Interpret fee rates in reference fee unit (#21)
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* Introduce CValue for distinguishing amounts from values

* Remove random character

* Define insertion operator for CValue

* Move CValue to separate module

* Remove consensus changes

* Remove CValue usage for fee rates, restrict to mempool

* More cleanup

* Use CValue for descendant and ancestor fee updates

* More mempool fixes

* Remove unused include

* Fix variable shadowing

* More conversions

* Factor in fee asset when validating package fees

* More conversions

* Convert dust relay fee from RFU

* More cleanup

* Cleanup

* Don't factor in asset in when calculating dust threshold

* Convert package fees

* Return CValue from CalculateExchangeValue

* Use CValue for reverse exchange rate conversion

* Update method documentation

* Rename currency conversion methods

* Fix typo

* Add justification for RFU to comments

* Use accessor instead of public instance variable unpacking CValue

* Use GetValue() in fee rate conversion

* Only apply dust check to outputs denominated in same asset as fee

* Interpret coin selection effective feerate in RFU

* Change GetModifiedFee() method to use RFU for summing with ancestor and descendant transactions

* Add functional test for "fee_rate" parameter in fundrawtransaction RPC and -mintxfee node configuration parameter

* Normalize fees to RFU during fee estimation

* Lint fixes

* More linting fixes

* More linting

* Apply method renams to fee amount conversions

* Add any asset fee rates test to test runner

* More amount conversion fixes

* Add compiler switch for currency constants

* Add new configuration flag to documentation

* Apply fixes to fee estimation functional test from ElementsProject/elements#1298

* Add tests for paytxfee parameter

* Cleanup

* Fix compiler flag

* Add tests for blockmintxfee

* Remove whitespace

* Add comments clarifying what's being demonstrated

* Remove nFeeValue, recompute as needed

* Revert "Remove nFeeValue, recompute as needed"

This reverts commit ab3a67b.

* Move No Coin configuration documentation to separate line

* Add constant for full name of currency atom

* Fix constant reference

* Fix typo
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JBetz authored May 3, 2024
1 parent 57fec5b commit b7d3729
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5 changes: 4 additions & 1 deletion README.md
Original file line number Diff line number Diff line change
Expand Up @@ -36,6 +36,10 @@ To speed up the build if not necessary, disable bench and tests in configure:
```bash
./configure --without-gui --without-natpmp --without-miniupnpc --disable-bench --disable-tests
```
To configure RPC documentation to denominate fee rates using RFU and rfa instead of BTC and sat:
```bash
./configure --enable-any-asset-fees
```

Modes
-----
Expand Down Expand Up @@ -106,4 +110,3 @@ https://github.com/ElementsProject/elementsproject.github.io
Secure Reporting
------------------
See [our vulnerability reporting guide](SECURITY.md)

13 changes: 13 additions & 0 deletions configure.ac
Original file line number Diff line number Diff line change
Expand Up @@ -267,13 +267,24 @@ AC_ARG_ENABLE([liquid],
[liquid_build=yes],
[liquid_build=no])

AC_ARG_ENABLE([any_asset_fees],
[AS_HELP_STRING([--enable-any-asset-fees],
[Enable build that uses constants for any asset fees feature])],
[any_asset_fees=yes],
[any_asset_fees=no])

if test "$use_asm" = "yes"; then
AC_DEFINE([USE_ASM], [1], [Define this symbol to build in assembly routines])
fi

if test "$liquid_build" = "yes"; then
AC_DEFINE(LIQUID, 1, [Define this symbol for Liquid builds])
fi

if test "$any_asset_fees" = "yes"; then
AC_DEFINE(ANY_ASSET_FEES, 1, [Define this symbol to modify constants for any asset fees feature])
fi

AC_ARG_ENABLE([zmq],
[AS_HELP_STRING([--disable-zmq],
[disable ZMQ notifications])],
Expand Down Expand Up @@ -1841,6 +1852,7 @@ AM_CONDITIONAL([WORDS_BIGENDIAN], [test "$ac_cv_c_bigendian" = "yes"])
AM_CONDITIONAL([USE_NATPMP], [test "$use_natpmp" = "yes"])
AM_CONDITIONAL([USE_UPNP], [test "$use_upnp" = "yes"])
AM_CONDITIONAL([LIQUID], [test "$liquid_build" = "yes"])
AM_CONDITIONAL([ANY_ASSET_FEES], [test "$any_asset_fees" = "yes"])

dnl for minisketch
AM_CONDITIONAL([ENABLE_CLMUL], [test "$enable_clmul" = "yes"])
Expand Down Expand Up @@ -1995,6 +2007,7 @@ echo " with upnp = $use_upnp"
echo " with natpmp = $use_natpmp"
echo " use asm = $use_asm"
echo " liquid_build = $liquid_build"
echo " any_asset_fees = $any_asset_fees"
echo " USDT tracing = $use_usdt"
echo " sanitizers = $use_sanitizers"
echo " debug enabled = $enable_debug"
Expand Down
1 change: 1 addition & 0 deletions src/Makefile.am
Original file line number Diff line number Diff line change
Expand Up @@ -213,6 +213,7 @@ BITCOIN_CORE_H = \
policy/policy.h \
policy/rbf.h \
policy/settings.h \
policy/value.h \
pow.h \
primitives/pak.h \
protocol.h \
Expand Down
26 changes: 21 additions & 5 deletions src/exchangerates.cpp
Original file line number Diff line number Diff line change
@@ -1,24 +1,40 @@
#include <assetsdir.h>
#include <exchangerates.h>
#include <policy/policy.h>
#include <policy/value.h>
#include <util/settings.h>
#include <util/system.h>
#include <univalue.h>

#include <fstream>

CAmount ExchangeRateMap::CalculateExchangeValue(const CAmount& amount, const CAsset& asset) {
CValue ExchangeRateMap::ConvertAmountToValue(const CAmount& amount, const CAsset& asset) {
int64_t int64_max = std::numeric_limits<int64_t>::max();
auto it = this->find(asset);
if (it == this->end()) {
return 0;
return CValue(0);
}
auto scaled_value = it->second.m_scaled_value;
__uint128_t value = ((__uint128_t)amount * (__uint128_t)scaled_value) / (__uint128_t)exchange_rate_scale;
__uint128_t result = ((__uint128_t)amount * (__uint128_t)scaled_value) / (__uint128_t)exchange_rate_scale;
if (result > int64_max) {
return CValue(int64_max);
} else {
return CValue((int64_t) result);
}
}

CAmount ExchangeRateMap::ConvertValueToAmount(const CValue& value, const CAsset& asset) {
int64_t int64_max = std::numeric_limits<int64_t>::max();
if (value > int64_max) {
auto it = this->find(asset);
if (it == this->end()) {
return int64_max;
}
auto scaled_value = it->second.m_scaled_value;
__uint128_t result = ((__uint128_t)value.GetValue() * (__uint128_t)exchange_rate_scale) / (__uint128_t)scaled_value;
if (result > int64_max) {
return int64_max;
} else {
return (int64_t) value;
return (int64_t) result;
}
}

Expand Down
22 changes: 16 additions & 6 deletions src/exchangerates.h
Original file line number Diff line number Diff line change
Expand Up @@ -3,9 +3,10 @@

#include <fs.h>
#include <policy/policy.h>
#include <policy/value.h>
#include <univalue.h>

constexpr const CAmount exchange_rate_scale = COIN;
constexpr const CAmount exchange_rate_scale = COIN; // 100,000,000
const std::string exchange_rates_config_file = "exchangerates.json";

class CAssetExchangeRate
Expand Down Expand Up @@ -33,15 +34,24 @@ class ExchangeRateMap : public std::map<CAsset, CAssetExchangeRate>
}

/**
* Calculate the exchange value
* Convert an amount denominated in some asset to the node's RFU (reference fee unit)
*
* @param[in] amount Corresponds to CTxMemPoolEntry.nFeeAmount
* @param[in] amount Corresponds to CTxMemPoolEntry.nFee
* @param[in] asset Corresponds to CTxMemPoolEntry.nFeeAsset
* @return the value at current exchange rate. Corresponds to CTxMemPoolEntry.nFee
* @return the value at current exchange rate. Corresponds to CTxMemPoolEntry.nFeeValue
*/
CAmount CalculateExchangeValue(const CAmount& amount, const CAsset& asset);
CValue ConvertAmountToValue(const CAmount& amount, const CAsset& asset);

/**
/**
* Convert an amount denominated in the node's RFU (reference fee unit) into some asset
*
* @param[in] value Corresponds to CTxMemPoolEntry.nFeeValue
* @param[in] asset Corresponds to CTxMemPoolEntry.nFeeAsset
* @return the amount at current exchange rate. Corresponds to CTxMemPoolEntry.nFee
*/
CAmount ConvertValueToAmount(const CValue& value, const CAsset& asset);

/**
* Load the exchange rate map from the default JSON config file in <datadir>/exchangerates.json.
*
* @param[in] errors Vector for storing error messages, if there are any.
Expand Down
4 changes: 2 additions & 2 deletions src/node/miner.cpp
Original file line number Diff line number Diff line change
Expand Up @@ -452,15 +452,15 @@ void BlockAssembler::addPackageTxs(int& nPackagesSelected, int& nDescendantsUpda
assert(!inBlock.count(iter));

uint64_t packageSize = iter->GetSizeWithAncestors();
CAmount packageFees = iter->GetModFeesWithAncestors();
CValue packageFees = iter->GetModFeesWithAncestors();
int64_t packageSigOpsCost = iter->GetSigOpCostWithAncestors();
if (fUsingModified) {
packageSize = modit->nSizeWithAncestors;
packageFees = modit->nModFeesWithAncestors;
packageSigOpsCost = modit->nSigOpCostWithAncestors;
}

if (packageFees < blockMinFeeRate.GetFee(packageSize)) {
if (packageFees.GetValue() < blockMinFeeRate.GetFee(packageSize)) {
// Everything else we might consider has a lower fee rate
return;
}
Expand Down
6 changes: 3 additions & 3 deletions src/node/miner.h
Original file line number Diff line number Diff line change
Expand Up @@ -47,13 +47,13 @@ struct CTxMemPoolModifiedEntry {

int64_t GetModifiedFee() const { return iter->GetModifiedFee(); }
uint64_t GetSizeWithAncestors() const { return nSizeWithAncestors; }
CAmount GetModFeesWithAncestors() const { return nModFeesWithAncestors; }
CValue GetModFeesWithAncestors() const { return nModFeesWithAncestors; }
size_t GetTxSize() const { return iter->GetTxSize(); }
const CTransaction& GetTx() const { return iter->GetTx(); }

CTxMemPool::txiter iter;
uint64_t nSizeWithAncestors;
CAmount nModFeesWithAncestors;
CValue nModFeesWithAncestors;
int64_t nSigOpCostWithAncestors;
};

Expand Down Expand Up @@ -116,7 +116,7 @@ struct update_for_parent_inclusion

void operator() (CTxMemPoolModifiedEntry &e)
{
e.nModFeesWithAncestors -= iter->GetFee();
e.nModFeesWithAncestors -= iter->GetFeeValue();
e.nSizeWithAncestors -= iter->GetTxSize();
e.nSigOpCostWithAncestors -= iter->GetSigOpCost();
}
Expand Down
4 changes: 2 additions & 2 deletions src/node/transaction.cpp
Original file line number Diff line number Diff line change
Expand Up @@ -76,8 +76,8 @@ TransactionError BroadcastTransaction(NodeContext& node, const CTransactionRef t
if (result.m_result_type != MempoolAcceptResult::ResultType::VALID) {
return HandleATMPError(result.m_state, err_string);
} else if (g_con_any_asset_fees) {
CAmount mBaseFeesValue = ExchangeRateMap::GetInstance().CalculateExchangeValue(result.m_base_fees.value(), tx->GetFeeAsset(::policyAsset));
if (mBaseFeesValue > max_tx_fee) {
CValue mBaseFeesValue = ExchangeRateMap::GetInstance().ConvertAmountToValue(result.m_base_fees.value(), tx->GetFeeAsset(::policyAsset));
if (mBaseFeesValue.GetValue() > max_tx_fee) {
return TransactionError::MAX_FEE_EXCEEDED;
}
} else if (result.m_base_fees.value() > max_tx_fee) {
Expand Down
13 changes: 13 additions & 0 deletions src/policy/feerate.cpp
Original file line number Diff line number Diff line change
Expand Up @@ -3,7 +3,11 @@
// Distributed under the MIT software license, see the accompanying
// file COPYING or http://www.opensource.org/licenses/mit-license.php.

#include <asset.h>
#include <exchangerates.h>
#include <policy/feerate.h>
#include <policy/value.h>
#include <primitives/transaction.h>

#include <tinyformat.h>

Expand Down Expand Up @@ -36,6 +40,15 @@ CAmount CFeeRate::GetFee(uint32_t num_bytes) const
return nFee;
}

CAmount CFeeRate::GetFee(uint32_t num_bytes, const CAsset& asset) const
{
CValue nFee = CValue(this->GetFee(num_bytes));
if (g_con_any_asset_fees) {
nFee = ExchangeRateMap::GetInstance().ConvertValueToAmount(nFee, asset);
}
return nFee.GetValue();
}

std::string CFeeRate::ToString(const FeeEstimateMode& fee_estimate_mode) const
{
switch (fee_estimate_mode) {
Expand Down
14 changes: 14 additions & 0 deletions src/policy/feerate.h
Original file line number Diff line number Diff line change
Expand Up @@ -6,13 +6,21 @@
#ifndef BITCOIN_POLICY_FEERATE_H
#define BITCOIN_POLICY_FEERATE_H

#include <asset.h>
#include <consensus/amount.h>
#include <serialize.h>

#include <string>

#ifdef ANY_ASSET_FEES
const std::string CURRENCY_UNIT = "RFU"; // One formatted unit (reference fee unit)
const std::string CURRENCY_ATOM = "rfa"; // One indivisible minimum value unit (reference fee atom)
const std::string CURRENCY_ATOM_FULL = "reference fee atom";
#else
const std::string CURRENCY_UNIT = "BTC"; // One formatted unit
const std::string CURRENCY_ATOM = "sat"; // One indivisible minimum value unit
const std::string CURRENCY_ATOM_FULL = "satoshi";
#endif

/* Used to determine type of fee estimation requested */
enum class FeeEstimateMode {
Expand Down Expand Up @@ -56,6 +64,12 @@ class CFeeRate
*/
CAmount GetFee(uint32_t num_bytes) const;

/**
* Return the fee in denominations of the fee asset for the given
* vsize in vbytes.
*/
CAmount GetFee(uint32_t num_bytes, const CAsset& asset) const;

/**
* Return the fee in satoshis for a vsize of 1000 vbytes
*/
Expand Down
2 changes: 1 addition & 1 deletion src/policy/fees.cpp
Original file line number Diff line number Diff line change
Expand Up @@ -569,7 +569,7 @@ void CBlockPolicyEstimator::processTransaction(const CTxMemPoolEntry& entry, boo
trackedTxs++;

// Feerates are stored and reported as BTC-per-kb:
CFeeRate feeRate(entry.GetFee(), entry.GetTxSize());
CFeeRate feeRate(entry.GetFeeValue().GetValue(), entry.GetTxSize());

mapMemPoolTxs[hash].blockHeight = txHeight;
unsigned int bucketIndex = feeStats->NewTx(txHeight, (double)feeRate.GetFeePerK());
Expand Down
4 changes: 2 additions & 2 deletions src/policy/policy.cpp
Original file line number Diff line number Diff line change
Expand Up @@ -53,7 +53,7 @@ CAmount GetDustThreshold(const CTxOut& txout, const CFeeRate& dustRelayFeeIn)
nSize += (32 + 4 + 1 + 107 + 4); // the 148 mentioned above
}

return dustRelayFeeIn.GetFee(nSize);
return dustRelayFeeIn.GetFee(nSize, txout.nAsset.GetAsset());
}

bool IsDust(const CTxOut& txout, const CFeeRate& dustRelayFeeIn)
Expand Down Expand Up @@ -146,7 +146,7 @@ bool IsStandardTx(const CTransaction& tx, bool permit_bare_multisig, const CFeeR
} else if ((whichType == TxoutType::MULTISIG) && (!permit_bare_multisig)) {
reason = "bare-multisig";
return false;
} else if ((txout.nAsset.IsExplicit() && txout.nAsset.GetAsset() == policyAsset) && IsDust(txout, dust_relay_fee)) {
} else if ((txout.nAsset.IsExplicit() && txout.nAsset.GetAsset() == tx.GetFeeAsset(::policyAsset)) && IsDust(txout, dust_relay_fee)) {
reason = "dust";
return false;
}
Expand Down
65 changes: 65 additions & 0 deletions src/policy/value.h
Original file line number Diff line number Diff line change
@@ -0,0 +1,65 @@
// Copyright (c) 2009-2010 Satoshi Nakamoto
// Copyright (c) 2009-2021 The Bitcoin Core developers
// Distributed under the MIT software license, see the accompanying
// file COPYING or http://www.opensource.org/licenses/mit-license.php.

#ifndef BITCOIN_POLICY_VALUE_H
#define BITCOIN_POLICY_VALUE_H

#include <cstdint>

/** ELEMENTS: Amount denominated in the node's RFU (reference fee unit). Used only
* when con_any_asset_fees is enabled in order to distinguish from amounts in an
* actual asset. RFU is needed to make amounts comparable when sorting transactions
* in the mempool, as well as for fee estimation and subsequent validation of those
* fees according to various limits (e.g., mintxfee, paytsxfee, blockmintxfee,
* incrementalrelaytxfee, etc.).
*/
struct CValue
{
private:
int64_t value;

public:
CValue(): value(0) {}
CValue(const int64_t value): value(value) {}

int64_t GetValue() const
{
return value;
}

CValue operator -(const CValue& operand)
{
return CValue(value - operand.value);
}

CValue operator -=(const CValue& operand)
{
value -= operand.value;
return *this;
}

CValue operator +(const CValue& operand)
{
return CValue(value + operand.value);
}

CValue operator +=(const CValue& operand)
{
value += operand.value;
return *this;
}

bool operator ==(const CValue& operand)
{
return value == operand.value;
}

bool operator !=(const CValue& operand)
{
return value != operand.value;
}
};

#endif // BITCOIN_POLICY_VALUE_H
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