One-Click LP: Close Position #597

daryakaviani · 2022-07-13T06:25:15Z

Task: One-Click LP Close Position

Description

Close an LP position and withdraw the LP NFT that was used as collateral using a flashloan via the ControllerHelper's flashloanCloseVaultLpNft function.

Learn more about the One-Click LP API here.

vercel · 2022-07-13T06:25:18Z

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packages/frontend/src/state/lp/hooks.ts

aleone

Some changes to limit price as well as way the tx is generated / what its trying to do.

aleone · 2022-08-02T00:15:43Z

packages/frontend/src/state/lp/hooks.ts

@@ -68,6 +69,62 @@ export const useOpenPositionDeposit = () => {
  return openPositionDeposit
 }

+// Close position with flashloan
+export const useClosePosition = () => {


maybe naming could be improved (can have close positions w/o flashloans, etc)

flashClosePosition?

aleone · 2022-08-02T00:20:57Z

packages/frontend/src/state/lp/hooks.ts

+      vaultId: vaultId,
+      tokenId: uniTokenId,
+      liquidity: position.liquidity,
+      liquidityPercentage: fromTokenAmount(1, 18).toFixed(0),


IMO for a more flexible API this should be flexible

users could decide to close 50% of their LP to pay off 75% their debt as an example

aleone · 2022-08-02T00:21:03Z

packages/frontend/src/state/lp/hooks.ts

+      tokenId: uniTokenId,
+      liquidity: position.liquidity,
+      liquidityPercentage: fromTokenAmount(1, 18).toFixed(0),
+      wPowerPerpAmountToBurn: shortAmount.toFixed(0),


IMO for a more flexible API this should be flexible

aleone · 2022-08-02T00:23:00Z

packages/frontend/src/state/lp/hooks.ts

+      const debtInEthPromise = getDebtAmount(shortAmount)
+      const limitEthPromise = getQuote(shortAmount, true)
+      const [debtInEth, limitEth] = await Promise.all([debtInEthPromise, limitEthPromise])
+      const collateralToFlashloan = debtInEth.multipliedBy(COLLAT_RATIO)


needs to be higher, detailed comments on CollectFees PR

aleone · 2022-08-02T00:24:14Z

packages/frontend/src/state/lp/hooks.ts

+      liquidityPercentage: fromTokenAmount(1, 18).toFixed(0),
+      wPowerPerpAmountToBurn: shortAmount.toFixed(0),
+      collateralToFlashloan: collateralToFlashloan.toFixed(0),
+      collateralToWithdraw: 0,


IMO for a more flexible API this should be flexible

Most people that close 100% of an LP and burn 100% of debt will want to get the ETH out, the current construction requires them to do it in 2 txs.

IMO should be able to be set by the f /e

aleone · 2022-08-02T00:33:32Z

packages/frontend/src/state/lp/hooks.ts

+      wPowerPerpAmountToBurn: shortAmount.toFixed(0),
+      collateralToFlashloan: collateralToFlashloan.toFixed(0),
+      collateralToWithdraw: 0,
+      limitPriceEthPerPowerPerp: limitEth,


I think this param is incorrect and a couple of issues with how its being calculated.

This should be a limit price in units of ETHPerPowerPerp ie 0.1 ETH per 1 squeeth, but scaled by 1e18.

The calculation is assuming that you are selling oSQTH, but this is not always the case, sometimes you have to buy, so you have to check if the debt being burned is > or < than the LP composition.

Right now you are getting the amountOut from the swap (which is a reallllllly high limit price and will be sandwiched/always execute regardless of what market does)

This also needs to use slippage somewhere a user should specify a slippage for this trade and that needs to be taken into account when the limit price is calculated.

aleone · 2022-08-02T00:35:49Z

packages/frontend/src/state/lp/hooks.ts

+      amount0Min: 0,
+      amount1Min: 0,
+      poolFee: POOL_FEE,
+      burnExactRemoved: true,


burnExactRemoved means that none of the oSQTH will be bought or sold to burn the amount of debt listed (and the wPowerPerpAmountToBurn is not used), so there is no need for the above calculations and many of the params included are not used.

I think this is a good flag to expose in the API (most users may want to burnExactRemoved, but not all)

happy to discuss this and the above if any qs

alpinechicken · 2022-08-04T01:04:25Z

packages/frontend/src/state/controller/hooks.ts

@@ -210,6 +210,17 @@ export const useGetTwapEthPrice = () => {
  return getTwapEthPrice
 }

+export const useGetTwapSqueethPrice = () => {


maybe + useGetSpotPrice using pool tick

Yep, using this in the new approach here!

merge

rebase

alpinechicken · 2022-11-16T22:54:17Z

packages/frontend/src/state/lp/hooks.ts

+        .minus(vaultCollateralAmt)
+      const flashLoanAmountPos = BigNumber.max(flashLoanAmount, 0)
+
+      const limitPrice = new BigNumber(limitEth)


Think this should be (1+slippage) if we're buying oSQTH when amountToLiquidate > amountToBurn

yes, agreed

alpinechicken · 2022-11-16T22:56:25Z

packages/frontend/src/state/lp/hooks.ts

+
+      const limitPrice = new BigNumber(limitEth)
+        .div(amountToLiquidate.minus(amountToBurn).abs())
+        .times(new BigNumber(1).minus(slippage))


slippage for remove liquidity probably different to slippage for oSQTH/eth swap

yeah should probably be different variables, though for LP withdrawal slippage, it can probably not be surfaced for the user

aleone

small changes needed

aleone · 2022-11-17T05:01:36Z

packages/frontend/src/state/lp/hooks.ts

+
+      const collateralToWithdraw = fromTokenAmount(withdrawAmount, WETH_DECIMALS)
+      const ethIndexPrice = toTokenAmount(index, WETH_DECIMALS).sqrt()
+      const vaultShortAmt = fromTokenAmount(vaultBefore.shortAmount, OSQUEETH_DECIMALS)


this is a repeat of shortAmount, we can delete

aleone · 2022-11-17T05:03:42Z

packages/frontend/src/state/lp/hooks.ts

+        .minus(vaultCollateralAmt)
+      const flashLoanAmountPos = BigNumber.max(flashLoanAmount, 0)
+
+      const limitPrice = new BigNumber(limitEth)


yes, agreed

aleone · 2022-11-17T05:04:18Z

packages/frontend/src/state/lp/hooks.ts

+
+      const limitPrice = new BigNumber(limitEth)
+        .div(amountToLiquidate.minus(amountToBurn).abs())
+        .times(new BigNumber(1).minus(slippage))


yeah should probably be different variables, though for LP withdrawal slippage, it can probably not be surfaced for the user

aleone · 2022-11-17T05:14:08Z

packages/frontend/src/state/lp/hooks.ts

+      const amountToLiquidate = new BigNumber(wPowerPerpAmountInLP).times(liquidityPercentage)
+      const amountToBurn = shortAmount.times(burnPercentage)
+      const limitEth = await (amountToLiquidate.gt(amountToBurn)
+        ? getExactIn(amountToLiquidate.minus(amountToBurn), true)


right now, this doesn't take the pool fee in and do any autorouting, so we have to restrict this functionality to to be only the 0.3% pool

aleone

approving to not block, but small changes to be made

vercel bot deployed to Preview July 13, 2022 06:25 View deployment

deepthinker250 changed the base branch from main to one-click-lp-open July 13, 2022 17:51

deepthinker250 reviewed Jul 13, 2022

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deepthinker250 approved these changes Jul 14, 2022

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vercel bot deployed to Preview July 16, 2022 05:46 View deployment

aleone requested changes Aug 2, 2022

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daryakaviani force-pushed the one-click-lp-open branch from 10a4d27 to ed7aed4 Compare August 2, 2022 19:55

alpinechicken reviewed Aug 4, 2022

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daryakaviani force-pushed the one-click-lp-open branch from 56e565e to 53d4191 Compare August 9, 2022 06:16

daryakaviani force-pushed the one-click-lp-close branch from 1dce1e0 to 151b0fb Compare August 9, 2022 06:41

vercel bot deployed to Preview August 9, 2022 06:59 View deployment

daryakaviani requested review from aleone and alpinechicken August 9, 2022 07:33

daryakaviani force-pushed the one-click-lp-open branch 2 times, most recently from 4403c6c to f73431b Compare August 25, 2022 18:45

Base automatically changed from one-click-lp-open to main August 25, 2022 18:58

Darya Kaviani added 13 commits August 25, 2022 12:17

merge

2826aba

squeeth price hook

bd642dc

merge atoms

39b6610

merge

twap -> spot

47b639f

imports

c00c897

get position hook

9079235

decrease liquidity hook

f2a7ff6

get quote hook

281ab34

get pool state hook

f514d6b

rename hooks

d08aaab

rebase

add controllerhelper address

abbe0d7

merge

c35573f

tick space

57179c3

Darya Kaviani added 15 commits August 25, 2022 13:10

open hook

7bb6e91

collat ratio const

cf6df2f

variable vault id

42e9dff

update to promise.all

7a33690

router 02 address

089b4a3

update collat ratio to 200

a0883ee

review updates

1740581

withdraw & dependencies

0d4ce8f

add controllerhelper address

df90256

tick space

27b0146

close position hook

8938fe7

use promise.all

8d439da

review changes

a47064b

address

7d9e72f

title

77b8d9c

daryakaviani force-pushed the one-click-lp-close branch from 047d506 to 77b8d9c Compare August 25, 2022 20:21

vercel bot deployed to Preview August 25, 2022 20:33 View deployment

flashclose

4da583c

vercel bot deployed to Preview August 29, 2022 07:35 View deployment

alpinechicken reviewed Nov 16, 2022

View reviewed changes

aleone requested changes Nov 17, 2022

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aleone approved these changes Nov 17, 2022

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One-Click LP: Close Position #597

One-Click LP: Close Position #597

daryakaviani commented Jul 13, 2022

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One-Click LP: Close Position #597

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One-Click LP: Close Position #597

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daryakaviani commented Jul 13, 2022

Task: One-Click LP Close Position

Description

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vercel bot commented Jul 13, 2022 •

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