Contract Source Code (Solidity Standard Json-Input format)

IDE

• Blockscan IDE
• 🤖 Code ReaderBeta

More Options

• Similar
• Submit Audit
• Compare

// SPDX-License-Identifier: BSD-3-Clause
pragma solidity 0.8.22;

import "./BaseJumpRateModelV2.sol";
import "./InterestRateModel.sol";

/**
 * @title Mach's JumpRateModel Contract V2 for V2 cTokens
 * @author Arr00
 * @notice Supports only for V2 cTokens
 */
contract JumpRateModelV2 is InterestRateModel, BaseJumpRateModelV2 {
    /**
     * @notice Calculates the current borrow rate per timestamp
     * @param cash The amount of cash in the market
     * @param borrows The amount of borrows in the market
     * @param reserves The amount of reserves in the market
     * @return The borrow rate percentage per timestamp as a mantissa (scaled by 1e18)
     */
    function getBorrowRate(uint256 cash, uint256 borrows, uint256 reserves) external view override returns (uint256) {
        return getBorrowRateInternal(cash, borrows, reserves);
    }

    constructor(
        uint256 baseRatePerYear,
        uint256 multiplierPerYear,
        uint256 jumpMultiplierPerYear,
        uint256 kink_,
        address owner_
    ) public BaseJumpRateModelV2(baseRatePerYear, multiplierPerYear, jumpMultiplierPerYear, kink_, owner_) {}
}

// SPDX-License-Identifier: BSD-3-Clause
pragma solidity 0.8.22;

import "./InterestRateModel.sol";

/**
 * @title Logic for Mach's JumpRateModel Contract V2.
 * @author Compound (modified by Dharma Labs, refactored by Arr00)
 * @notice Version 2 modifies Version 1 by enabling updateable parameters.
 */
abstract contract BaseJumpRateModelV2 is InterestRateModel {
    event NewInterestParams(
        uint256 baseRatePerTimestamp, uint256 multiplierPerTimestamp, uint256 jumpMultiplierPerTimestamp, uint256 kink
    );

    uint256 private constant BASE = 1e18;

    /**
     * @notice The address of the owner, i.e. the Timelock contract, which can update parameters directly
     */
    address public owner;

    /**
     * @notice The approximate number of timestamps per year that is assumed by the interest rate model
     */
    uint256 public constant timestampsPerYear = 60 * 60 * 24 * 365;

    /**
     * @notice The multiplier of utilization rate that gives the slope of the interest rate
     */
    uint256 public multiplierPerTimestamp;

    /**
     * @notice The base interest rate which is the y-intercept when utilization rate is 0
     */
    uint256 public baseRatePerTimestamp;

    /**
     * @notice The multiplierPerTimestamp after hitting a specified utilization point
     */
    uint256 public jumpMultiplierPerTimestamp;

    /**
     * @notice The utilization point at which the jump multiplier is applied
     */
    uint256 public kink;

    /**
     * @notice Construct an interest rate model
     * @param baseRatePerYear The approximate target base APR, as a mantissa (scaled by BASE)
     * @param multiplierPerYear The rate of increase in interest rate wrt utilization (scaled by BASE)
     * @param jumpMultiplierPerYear The multiplierPerTimestamp after hitting a specified utilization point
     * @param kink_ The utilization point at which the jump multiplier is applied
     * @param owner_ The address of the owner, i.e. the Timelock contract (which has the ability to update parameters directly)
     */
    constructor(
        uint256 baseRatePerYear,
        uint256 multiplierPerYear,
        uint256 jumpMultiplierPerYear,
        uint256 kink_,
        address owner_
    ) internal {
        owner = owner_;

        updateJumpRateModelInternal(baseRatePerYear, multiplierPerYear, jumpMultiplierPerYear, kink_);
    }

    /**
     * @notice Update the parameters of the interest rate model (only callable by owner, i.e. Timelock)
     * @param baseRatePerYear The approximate target base APR, as a mantissa (scaled by BASE)
     * @param multiplierPerYear The rate of increase in interest rate wrt utilization (scaled by BASE)
     * @param jumpMultiplierPerYear The multiplierPerTimestamp after hitting a specified utilization point
     * @param kink_ The utilization point at which the jump multiplier is applied
     */
    function updateJumpRateModel(
        uint256 baseRatePerYear,
        uint256 multiplierPerYear,
        uint256 jumpMultiplierPerYear,
        uint256 kink_
    ) external virtual {
        require(msg.sender == owner, "only the owner may call this function.");

        updateJumpRateModelInternal(baseRatePerYear, multiplierPerYear, jumpMultiplierPerYear, kink_);
    }

    /**
     * @notice Calculates the utilization rate of the market: `borrows / (cash + borrows - reserves)`
     * @param cash The amount of cash in the market
     * @param borrows The amount of borrows in the market
     * @param reserves The amount of reserves in the market (currently unused)
     * @return The utilization rate as a mantissa between [0, BASE]
     */
    function utilizationRate(uint256 cash, uint256 borrows, uint256 reserves) public pure returns (uint256) {
        // Utilization rate is 0 when there are no borrows
        if (borrows == 0) {
            return 0;
        }

        return (borrows * BASE) / (cash + borrows - reserves);
    }

    /**
     * @notice Calculates the current borrow rate per timestamp, with the error code expected by the market
     * @param cash The amount of cash in the market
     * @param borrows The amount of borrows in the market
     * @param reserves The amount of reserves in the market
     * @return The borrow rate percentage per timestamp as a mantissa (scaled by BASE)
     */
    function getBorrowRateInternal(uint256 cash, uint256 borrows, uint256 reserves) internal view returns (uint256) {
        uint256 util = utilizationRate(cash, borrows, reserves);

        if (util <= kink) {
            return ((util * multiplierPerTimestamp) / BASE) + baseRatePerTimestamp;
        } else {
            uint256 normalRate = ((kink * multiplierPerTimestamp) / BASE) + baseRatePerTimestamp;
            uint256 excessUtil = util - kink;
            return ((excessUtil * jumpMultiplierPerTimestamp) / BASE) + normalRate;
        }
    }

    /**
     * @notice Calculates the current supply rate per timestamp
     * @param cash The amount of cash in the market
     * @param borrows The amount of borrows in the market
     * @param reserves The amount of reserves in the market
     * @param reserveFactorMantissa The current reserve factor for the market
     * @return The supply rate percentage per timestamp as a mantissa (scaled by BASE)
     */
    function getSupplyRate(uint256 cash, uint256 borrows, uint256 reserves, uint256 reserveFactorMantissa)
        public
        view
        virtual
        override
        returns (uint256)
    {
        uint256 oneMinusReserveFactor = BASE - reserveFactorMantissa;
        uint256 borrowRate = getBorrowRateInternal(cash, borrows, reserves);
        uint256 rateToPool = (borrowRate * oneMinusReserveFactor) / BASE;
        return (utilizationRate(cash, borrows, reserves) * rateToPool) / BASE;
    }

    /**
     * @notice Internal function to update the parameters of the interest rate model
     * @param baseRatePerYear The approximate target base APR, as a mantissa (scaled by BASE)
     * @param multiplierPerYear The rate of increase in interest rate wrt utilization (scaled by BASE)
     * @param jumpMultiplierPerYear The multiplierPerTimestamp after hitting a specified utilization point
     * @param kink_ The utilization point at which the jump multiplier is applied
     */
    function updateJumpRateModelInternal(
        uint256 baseRatePerYear,
        uint256 multiplierPerYear,
        uint256 jumpMultiplierPerYear,
        uint256 kink_
    ) internal {
        baseRatePerTimestamp = ((baseRatePerYear * BASE) / timestampsPerYear) / BASE;
        multiplierPerTimestamp = (multiplierPerYear * BASE) / (timestampsPerYear * kink_);
        jumpMultiplierPerTimestamp = ((jumpMultiplierPerYear * BASE) / timestampsPerYear) / BASE;
        kink = kink_;

        emit NewInterestParams(baseRatePerTimestamp, multiplierPerTimestamp, jumpMultiplierPerTimestamp, kink);
    }
}

// SPDX-License-Identifier: BSD-3-Clause
pragma solidity 0.8.22;

/**
 * @title Mach's InterestRateModel Interface
 * @author Mach Finance
 */
abstract contract InterestRateModel {
    /// @notice Indicator that this is an InterestRateModel contract (for inspection)
    bool public constant isInterestRateModel = true;

    /**
     * @notice Calculates the current borrow interest rate per timestamp
     * @param cash The total amount of cash the market has
     * @param borrows The total amount of borrows the market has outstanding
     * @param reserves The total amount of reserves the market has
     * @return The borrow rate per timestamp (as a percentage, and scaled by 1e18)
     */
    function getBorrowRate(uint256 cash, uint256 borrows, uint256 reserves) external view virtual returns (uint256);

    /**
     * @notice Calculates the current supply interest rate per timestamp
     * @param cash The total amount of cash the market has
     * @param borrows The total amount of borrows the market has outstanding
     * @param reserves The total amount of reserves the market has
     * @param reserveFactorMantissa The current reserve factor the market has
     * @return The supply rate per timestamp (as a percentage, and scaled by 1e18)
     */
    function getSupplyRate(uint256 cash, uint256 borrows, uint256 reserves, uint256 reserveFactorMantissa)
        external
        view
        virtual
        returns (uint256);
}

{
  "remappings": [
    "@pythnetwork/pyth-sdk-solidity/=lib/pyth-crosschain/target_chains/ethereum/sdk/solidity/",
    "@openzeppelin/contracts/=lib/openzeppelin-contracts-upgradeable/lib/openzeppelin-contracts/contracts/",
    "@openzeppelin/contracts-upgradeable/=lib/openzeppelin-contracts-upgradeable/contracts/",
    "openzeppelin-foundry-upgrades/=lib/openzeppelin-foundry-upgrades/src/",
    "@api3/contracts/=lib/contracts/contracts/",
    "ds-test/=lib/openzeppelin-contracts-upgradeable/lib/forge-std/lib/ds-test/src/",
    "erc4626-tests/=lib/openzeppelin-contracts-upgradeable/lib/erc4626-tests/",
    "forge-std/=lib/forge-std/src/",
    "halmos-cheatcodes/=lib/openzeppelin-contracts-upgradeable/lib/halmos-cheatcodes/src/",
    "openzeppelin-contracts-upgradeable/=lib/openzeppelin-contracts-upgradeable/",
    "openzeppelin-contracts/=lib/openzeppelin-contracts-upgradeable/lib/openzeppelin-contracts/",
    "pyth-crosschain/=lib/pyth-crosschain/",
    "solidity-stringutils/=lib/openzeppelin-foundry-upgrades/lib/solidity-stringutils/"
  ],
  "optimizer": {
    "enabled": true,
    "runs": 200
  },
  "metadata": {
    "useLiteralContent": false,
    "bytecodeHash": "ipfs",
    "appendCBOR": true
  },
  "outputSelection": {
    "*": {
      "*": [
        "evm.bytecode",
        "evm.deployedBytecode",
        "devdoc",
        "userdoc",
        "metadata",
        "abi"
      ]
    }
  },
  "evmVersion": "paris",
  "viaIR": false,
  "libraries": {}
}

• No Contract Security Audit Submitted- Submit Audit Here

[{"inputs":[{"internalType":"uint256","name":"baseRatePerYear","type":"uint256"},{"internalType":"uint256","name":"multiplierPerYear","type":"uint256"},{"internalType":"uint256","name":"jumpMultiplierPerYear","type":"uint256"},{"internalType":"uint256","name":"kink_","type":"uint256"},{"internalType":"address","name":"owner_","type":"address"}],"stateMutability":"nonpayable","type":"constructor"},{"anonymous":false,"inputs":[{"indexed":false,"internalType":"uint256","name":"baseRatePerTimestamp","type":"uint256"},{"indexed":false,"internalType":"uint256","name":"multiplierPerTimestamp","type":"uint256"},{"indexed":false,"internalType":"uint256","name":"jumpMultiplierPerTimestamp","type":"uint256"},{"indexed":false,"internalType":"uint256","name":"kink","type":"uint256"}],"name":"NewInterestParams","type":"event"},{"inputs":[],"name":"baseRatePerTimestamp","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"uint256","name":"cash","type":"uint256"},{"internalType":"uint256","name":"borrows","type":"uint256"},{"internalType":"uint256","name":"reserves","type":"uint256"}],"name":"getBorrowRate","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"uint256","name":"cash","type":"uint256"},{"internalType":"uint256","name":"borrows","type":"uint256"},{"internalType":"uint256","name":"reserves","type":"uint256"},{"internalType":"uint256","name":"reserveFactorMantissa","type":"uint256"}],"name":"getSupplyRate","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[],"name":"isInterestRateModel","outputs":[{"internalType":"bool","name":"","type":"bool"}],"stateMutability":"view","type":"function"},{"inputs":[],"name":"jumpMultiplierPerTimestamp","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[],"name":"kink","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[],"name":"multiplierPerTimestamp","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[],"name":"owner","outputs":[{"internalType":"address","name":"","type":"address"}],"stateMutability":"view","type":"function"},{"inputs":[],"name":"timestampsPerYear","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"uint256","name":"baseRatePerYear","type":"uint256"},{"internalType":"uint256","name":"multiplierPerYear","type":"uint256"},{"internalType":"uint256","name":"jumpMultiplierPerYear","type":"uint256"},{"internalType":"uint256","name":"kink_","type":"uint256"}],"name":"updateJumpRateModel","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"uint256","name":"cash","type":"uint256"},{"internalType":"uint256","name":"borrows","type":"uint256"},{"internalType":"uint256","name":"reserves","type":"uint256"}],"name":"utilizationRate","outputs":[{"internalType":"uint256","name":"","type":"uint256"}],"stateMutability":"pure","type":"function"}]

0x608060405234801561001057600080fd5b50600436106100a95760003560e01c806340bc0af41161007157806340bc0af4146101155780636c2df6a71461011e5780636e71e2d8146101275780638da5cb5b1461013a578063b816881614610165578063fd2da3391461017857600080fd5b80630c574861146100ae57806315f24053146100cc5780632037f3e7146100df5780632191f92a146100f457806326c394f71461010c575b600080fd5b6100b96301e1338081565b6040519081526020015b60405180910390f35b6100b96100da366004610488565b610181565b6100f26100ed3660046104b4565b610198565b005b6100fc600181565b60405190151581526020016100c3565b6100b960035481565b6100b960025481565b6100b960015481565b6100b9610135366004610488565b610217565b60005461014d906001600160a01b031681565b6040516001600160a01b0390911681526020016100c3565b6100b96101733660046104b4565b61025a565b6100b960045481565b600061018e8484846102d6565b90505b9392505050565b6000546001600160a01b031633146102055760405162461bcd60e51b815260206004820152602660248201527f6f6e6c7920746865206f776e6572206d61792063616c6c20746869732066756e60448201526531ba34b7b71760d11b606482015260840160405180910390fd5b610211848484846103a1565b50505050565b60008260000361022957506000610191565b8161023484866104fc565b61023e9190610515565b610250670de0b6b3a764000085610528565b61018e919061053f565b60008061026f83670de0b6b3a7640000610515565b9050600061027e8787876102d6565b90506000670de0b6b3a76400006102958484610528565b61029f919061053f565b9050670de0b6b3a7640000816102b68a8a8a610217565b6102c09190610528565b6102ca919061053f565b98975050505050505050565b6000806102e4858585610217565b9050600454811161032557600254670de0b6b3a7640000600154836103099190610528565b610313919061053f565b61031d91906104fc565b915050610191565b6000600254670de0b6b3a76400006001546004546103439190610528565b61034d919061053f565b61035791906104fc565b90506000600454836103699190610515565b905081670de0b6b3a7640000600354836103839190610528565b61038d919061053f565b61039791906104fc565b9350505050610191565b670de0b6b3a76400006301e133806103b98287610528565b6103c3919061053f565b6103cd919061053f565b6002556103de816301e13380610528565b6103f0670de0b6b3a764000085610528565b6103fa919061053f565b600155670de0b6b3a76400006301e133806104158285610528565b61041f919061053f565b610429919061053f565b60038190556004829055600254600154604080519283526020830191909152810191909152606081018290527f6960ab234c7ef4b0c9197100f5393cfcde7c453ac910a27bd2000aa1dd4c068d9060800160405180910390a150505050565b60008060006060848603121561049d57600080fd5b505081359360208301359350604090920135919050565b600080600080608085870312156104ca57600080fd5b5050823594602084013594506040840135936060013592509050565b634e487b7160e01b600052601160045260246000fd5b8082018082111561050f5761050f6104e6565b92915050565b8181038181111561050f5761050f6104e6565b808202811582820484141761050f5761050f6104e6565b60008261055c57634e487b7160e01b600052601260045260246000fd5b50049056fea2646970667358221220e5fbe980d22bfc78d1d7007814fc6a940bc629a18edf2009c0a06b832e9d314364736f6c63430008160033