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Risk Engine

Overview​

The Risk Engine forms the core module to manage risk in the protocol. It is used by all other modules to value assets, fetch ltvs, validate liquidation operations and other risk operations.

The Risk Engine stores important risk data such as oracle addresses and pool-asset LTVs. It is also closely related to the RiskModule which stores all the risk logic used to perform risk checks and liquidations.

State Variables​

TIMELOCK_DURATION​

Timelock delay to update asset LTVs

uint256 public constant TIMELOCK_DURATION = 24 * 60 * 60;

TIMELOCK_DEADLINE​

Timelock deadline to enforce timely updates

uint256 public constant TIMELOCK_DEADLINE = 24 * 60 * 60;

SENTIMENT_POOL_KEY​

Sentiment Pool registry key hash

keccak(SENTIMENT_POOL_KEY)

bytes32 public constant SENTIMENT_POOL_KEY = 0x1a99cbf6006db18a0e08427ff11db78f3ea1054bc5b9d48122aae8d206c09728;

SENTIMENT_RISK_MODULE_KEY​

Sentiment Risk Module registry key hash

keccak(SENTIMENT_RISK_MODULE_KEY)

bytes32 public constant SENTIMENT_RISK_MODULE_KEY = 0x881469d14b8443f6c918bdd0a641e9d7cae2592dc28a4f922a2c4d7ca3d19c77;

minLtv​

Minimum LTV bound

uint256 public minLtv;

maxLtv​

Maximum LTV bound

uint256 public maxLtv;

REGISTRY​

Sentiment Registry

Registry public immutable REGISTRY;

pool​

Sentiment Singleton Pool

Pool public pool;

riskModule​

Sentiment Risk Module

RiskModule public riskModule;

### ltvFor
Fetch the ltv for a given asset in a pool


```solidity
mapping(uint256 poolId => mapping(address asset => uint256 ltv)) public ltvFor;

ltvUpdateFor​

Fetch pending LTV update details for a given pool and asset pair, if any

mapping(uint256 poolId => mapping(address asset => LtvUpdate ltvUpdate)) public ltvUpdateFor;

Functions​

constructor​

constructor(address registry_, uint256 minLtv_, uint256 maxLtv_) Ownable();

Parameters

NameTypeDescription
registry_addressSentiment Registry
minLtv_uint256Minimum LTV bound
maxLtv_uint256Maximum LTV bound

updateFromRegistry​

Fetch and update module addreses from the registry

function updateFromRegistry() external;

getOracleFor​

Fetch oracle address for a given asset

function getOracleFor(address asset) public view returns (address);

isPositionHealthy​

Check if the given position is healthy

function isPositionHealthy(address position) external view returns (bool);

validateLiquidation​

Valid liquidator data and value of assets seized

function validateLiquidation(
    address position,
    DebtData[] calldata debtData,
    AssetData[] calldata assetData
) external view;

validateBadDebt​

function validateBadDebt(address position) external view;

getRiskData​

Fetch risk-associated data for a given position

function getRiskData(address position) external view returns (uint256, uint256, uint256);

Parameters

NameTypeDescription
positionaddressThe address of the position to get the risk data for

Returns

NameTypeDescription
<none>uint256totalAssetValue The total asset value of the position
<none>uint256totalDebtValue The total debt value of the position
<none>uint256minReqAssetValue The minimum required asset value for the position to be healthy

getTotalAssetValue​

function getTotalAssetValue(address position) external view returns (uint256);

getTotalDebtValue​

function getTotalDebtValue(address position) external view returns (uint256);

requestLtvUpdate​

Propose an LTV update for a given Pool-Asset pair

overwrites any pending or expired updates

function requestLtvUpdate(uint256 poolId, address asset, uint256 ltv) external;

acceptLtvUpdate​

Apply a pending LTV update

function acceptLtvUpdate(uint256 poolId, address asset) external;

rejectLtvUpdate​

Reject a pending LTV update

function rejectLtvUpdate(uint256 poolId, address asset) external;

setLtvBounds​

Set Protocol LTV bounds

function setLtvBounds(uint256 _minLtv, uint256 _maxLtv) external onlyOwner;

setRiskModule​

Set the risk module used to store risk logic for positions

only callable by RiskEngine owner

function setRiskModule(address _riskModule) external onlyOwner;

Parameters

NameTypeDescription
_riskModuleaddressthe address of the risk module implementation

setOracle​

Set the oracle address used to price a given asset

Does not support ERC777s, rebasing and fee-on-transfer tokens

function setOracle(address asset, address oracle) external onlyOwner;

Events​

PoolSet​

Pool address was updated

event PoolSet(address pool);

RiskModuleSet​

Risk Module address was updated

event RiskModuleSet(address riskModule);

LtvBoundsSet​

Protocol LTV bounds were updated

event LtvBoundsSet(uint256 minLtv, uint256 maxLtv);

OracleSet​

Oracle associated with an asset was updated

event OracleSet(address indexed asset, address oracle);

LtvUpdateRejected​

Pending LTV update was rejected

event LtvUpdateRejected(uint256 indexed poolId, address indexed asset);

LtvUpdateAccepted​

Pending LTV update was accepted

event LtvUpdateAccepted(uint256 indexed poolId, address indexed asset, uint256 ltv);

LtvUpdateRequested​

LTV update was requested

event LtvUpdateRequested(uint256 indexed poolId, address indexed asset, LtvUpdate ltvUpdate);

Errors​

RiskEngine_NoOracleFound​

There is no oracle associated with the given asset

error RiskEngine_NoOracleFound(address asset);

RiskEngine_LtvLimitBreached​

Proposed LTV is outside of protocol LTV bounds

error RiskEngine_LtvLimitBreached(uint256 ltv);

RiskEngine_NoLtvUpdate​

There is no pending LTV update for the given Pool-Asset pair

error RiskEngine_NoLtvUpdate(uint256 poolId, address asset);

RiskEngine_OnlyPoolOwner​

Function access is restricted to the owner of the pool

error RiskEngine_OnlyPoolOwner(uint256 poolId, address sender);

RiskEngine_LtvUpdateTimelocked​

Timelock delay for the pending LTV update has not been completed

error RiskEngine_LtvUpdateTimelocked(uint256 poolId, address asset);

RiskEngine_LtvUpdateExpired​

Timelock deadline for LTV update has passed

error RiskEngine_LtvUpdateExpired(uint256 poolId, address asset);

RiskEngine_MinLtvTooLow​

Global min ltv cannot be zero

error RiskEngine_MinLtvTooLow();

RiskEngine_MaxLtvTooHigh​

Global max ltv must be less than 100%

error RiskEngine_MaxLtvTooHigh();

RiskEngine_CannotBorrowPoolAsset​

Pool LTV for the asset being lent out must be zero

error RiskEngine_CannotBorrowPoolAsset(uint256 poolId);

Structs​

LtvUpdate​

Utility struct to store pending Pool LTV updates

struct LtvUpdate {
    uint256 ltv;
    uint256 validAfter;
}