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

NameTypeDescription

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)


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

NameTypeDescription

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

NameTypeDescription

[0]

uint256

The utilization rate as a mantissa between [0, 1e18]


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

NameTypeDescription

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

NameTypeDescription

[0]

uint256

The borrow rate percentage per block as a mantissa (scaled by 1e18)


getSupplyRate

Calculates the current supply rate per block

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

Parameters

NameTypeDescription

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

NameTypeDescription

[0]

uint256

The supply rate percentage per block as a mantissa (scaled by 1e18)


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