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refactor: allow zero qualifying balancer shares in CL incentives #6162

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Aug 25, 2023
Merged

refactor: allow zero qualifying balancer shares in CL incentives #6162

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0ef5b0d
refactor: allow zero qualifying balancer shares
p0mvn Aug 25, 2023
4b2c290
update changelog
devbot-wizard Aug 25, 2023
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4 changes: 4 additions & 0 deletions CHANGELOG.md
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Expand Up @@ -42,6 +42,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0

## Unreleased

### Bug Fixes

* [#6162](https://github.com/osmosis-labs/osmosis/pull/6162) allow zero qualifying balancer shares in CL incentives

### API breaks

* [#6071](https://github.com/osmosis-labs/osmosis/pull/6071) reduce number of returns for UpdatePosition and TicksToSqrtPrice functions
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34 changes: 14 additions & 20 deletions x/concentrated-liquidity/incentives.go
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Expand Up @@ -172,32 +172,24 @@ func (k Keeper) prepareBalancerPoolAsFullRange(ctx sdk.Context, clPoolId uint64,
// relaxed in the future.
// Note that we check denom compatibility later, and pool weights technically do not matter as they
// are analogous to changing the spot price, which is handled by our lower bounding.
if len(balancerPoolLiquidity) != 2 {
// Note that due to low share ratio, the balancer token liquidity may be truncated to zero.
// Balancer liquidity may also upgrade in-full to CL.
if len(balancerPoolLiquidity) > 2 {
return 0, sdk.ZeroDec(), types.ErrInvalidBalancerPoolLiquidityError{ClPoolId: clPoolId, BalancerPoolId: canonicalBalancerPoolId, BalancerPoolLiquidity: balancerPoolLiquidity}
}

// We ensure that the asset ordering is correct when passing Balancer assets into the CL pool.
var asset0Amount, asset1Amount sdk.Int
if balancerPoolLiquidity[0].Denom == clPool.GetToken0() {
asset0Amount = balancerPoolLiquidity[0].Amount
asset1Amount = balancerPoolLiquidity[1].Amount
denom0 := clPool.GetToken0()
denom1 := clPool.GetToken1()

// Ensure second denom matches (bal1 -> CL1)
if balancerPoolLiquidity[1].Denom != clPool.GetToken1() {
return 0, sdk.ZeroDec(), types.ErrInvalidBalancerPoolLiquidityError{ClPoolId: clPoolId, BalancerPoolId: canonicalBalancerPoolId, BalancerPoolLiquidity: balancerPoolLiquidity}
}
} else if balancerPoolLiquidity[0].Denom == clPool.GetToken1() {
asset0Amount = balancerPoolLiquidity[1].Amount
asset1Amount = balancerPoolLiquidity[0].Amount

// Ensure second denom matches (bal1 -> CL0)
if balancerPoolLiquidity[1].Denom != clPool.GetToken0() {
return 0, sdk.ZeroDec(), types.ErrInvalidBalancerPoolLiquidityError{ClPoolId: clPoolId, BalancerPoolId: canonicalBalancerPoolId, BalancerPoolLiquidity: balancerPoolLiquidity}
}
} else {
// This check's purpose is to confirm that denoms are the same.
clCoins := totalBalancerPoolLiquidity.FilterDenoms([]string{denom0, denom1})
if len(clCoins) != 2 {
return 0, sdk.ZeroDec(), types.ErrInvalidBalancerPoolLiquidityError{ClPoolId: clPoolId, BalancerPoolId: canonicalBalancerPoolId, BalancerPoolLiquidity: balancerPoolLiquidity}
}

asset0Amount := balancerPoolLiquidity.AmountOf(denom0)
asset1Amount := balancerPoolLiquidity.AmountOf(denom1)

// Calculate the amount of liquidity the Balancer amounts qualify in the CL pool. Note that since we use the CL spot price, this is
// safe against prices drifting apart between the two pools (we take the lower bound on the qualifying liquidity in this case).
// The `sqrtPriceLowerTick` and `sqrtPriceUpperTick` fields are set to the appropriate values for a full range position.
Expand Down Expand Up @@ -438,7 +430,9 @@ func (k Keeper) updateGivenPoolUptimeAccumulatorsToNow(ctx sdk.Context, pool typ
// Even though this exposes CL LPs to getting immediately diluted by a large Balancer position, this would
// require a lot of capital to be tied up in a two week bond, which is a viable tradeoff given the relative
// simplicity of this approach.
if balancerPoolId != 0 {
// It is possible that the balancer qualifying shares are zero if the bonded liquidity in the
// pool is extremely low. As a result, in that case we simply skip claiming.
if balancerPoolId != 0 && !qualifyingBalancerShares.IsZero() {
_, err := k.claimAndResetFullRangeBalancerPool(ctx, poolId, balancerPoolId, uptimeAccums)
if err != nil {
return err
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