WhitePaperModel

WhitePaperInterestRateModel

The parameterized model described in section 2.4 of the original Venus Protocol whitepaper

Solidity API

constructor

Construct an interest rate model

constructor(uint256 baseRatePerYear, uint256 multiplierPerYear) public

Parameters

Name	Type	Description
baseRatePerYear	uint256	The approximate target base APR, as a mantissa (scaled by 1e18)
multiplierPerYear	uint256	The rate of increase in interest rate wrt utilization (scaled by 1e18)

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utilizationRate

Calculates the utilization rate of the market: borrows / (cash + borrows - reserves)

function utilizationRate(uint256 cash, uint256 borrows, uint256 reserves) public pure returns (uint256)

Parameters

Name	Type	Description
cash	uint256	The amount of cash in the market
borrows	uint256	The amount of borrows in the market
reserves	uint256	The amount of reserves in the market (currently unused)

Return Values

Name	Type	Description
[0]	uint256	The utilization rate as a mantissa between [0, 1e18]

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getBorrowRate

Calculates the current borrow rate per block, with the error code expected by the market

function getBorrowRate(uint256 cash, uint256 borrows, uint256 reserves) public view returns (uint256)

Parameters

Name	Type	Description
cash	uint256	The amount of cash in the market
borrows	uint256	The amount of borrows in the market
reserves	uint256	The amount of reserves in the market

Return Values

Name	Type	Description
[0]	uint256	The borrow rate percentage per block as a mantissa (scaled by 1e18)

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getSupplyRate

Calculates the current supply rate per block

function getSupplyRate(uint256 cash, uint256 borrows, uint256 reserves, uint256 reserveFactorMantissa) public view returns (uint256)

Parameters

Name	Type	Description
cash	uint256	The amount of cash in the market
borrows	uint256	The amount of borrows in the market
reserves	uint256	The amount of reserves in the market
reserveFactorMantissa	uint256	The current reserve factor for the market

Return Values

Name	Type	Description
[0]	uint256	The supply rate percentage per block as a mantissa (scaled by 1e18)

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