Merge phase/06 into milestone/v0.5-bearers-runtime (P6 complete → v0.4.6)
---ci--- project: oy phase: 6 milestone: v0.5 status: complete requirements: covered: [REQ-038] partial: [] ---/ci---
This commit is contained in:
@@ -0,0 +1,286 @@
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package keeper
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// clob.go holds the CLOB (central-limit order book) matching engine for the
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// bond secondary market (P6-02-01, REQ-038, D-057 — price-time priority FCFS
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// per REQ-007; NO AMM — D-057/A-564).
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//
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// The CLOB engine is PER-TX matching (dYdX-v4-shaped, no batch end-of-block
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// matching in v0.5 simtest — D-054). The handler loads the resting book for
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// the bond, sorts by (price, sequence) for price-time priority, and matches
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// the incoming taker against the best opposing price until filled or the
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// book is empty.
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//
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// G-019 BINDING: this file defines the SINGLE ImpliedCoupon(priceBps,
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// principal) helper used by BOTH the CLOB match and the per-match clamp
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// check (D-063). The "implied coupon" derivation from trade price (fraction
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// of principal in bps) is the unstated precondition of the D-063 REJECT
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// threshold; a single helper + boundary unit test (800/801/799 bps) closes
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// the formula ambiguity.
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//
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// D-063/A-562: a match whose ImpliedCoupon EXCEEDS 800 bps is REJECTED
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// (fails closed — the resting order stays, the incoming order rests or is
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// cancelled; no refund path). The 8% cap is a Mission-Lock invariant (D-028),
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// not a soft cap. Matches within [0, 800] use Clamp (in-band, no refund
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// needed).
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//
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// The 8%/0% consts (CouponCapBps=800 / CouponFloorBps=0, D-028) are
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// referenced DIRECTLY from x/bond/types (same package — NOT a local copy;
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// A-563). The REQ-030 cross-const test stays green.
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//
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// Lexicon (REQ-012, A-210): the coupon vocabulary is used EXCLUSIVELY. The
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// banned coupon-synonyms are NEVER used.
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//
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// FEATURE PURITY GATE: the v0.3 types.SecondaryOrder struct is FROZEN (it
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// has PriceGrain int64, no PriceBps or QuantityGrain). To avoid amending the
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// v0.3 types/ contract, the CLOB book uses a keeper-internal restingOrder
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// struct carrying the price-bps + remaining quantity (the runtime book
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// state). The restingOrder embeds the public SecondaryOrder (the v0.3
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// contract is preserved) PLUS the keeper-internal book fields. This is the
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// "runtime adds behavior on top, not changes to the contract" pattern.
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import (
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"sort"
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sdk "github.com/cosmos/cosmos-sdk/types"
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"github.com/oy/openyield/x/bond/types"
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)
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// restingOrder is the in-keeper book entry for a resting secondary-market
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// order. It carries the public SecondaryOrder (the v0.3 type — frozen, not
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// amended, per the feature purity gate) PLUS the keeper-internal price-bps
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// and remaining-quantity and sequence for price-time priority FCFS
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// (REQ-007). The price-bps, remaining-quantity, and sequence are keeper-
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// internal concerns (NOT types/ contract fields); adding them here keeps
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// the v0.3 types/ contract unchanged (feature purity gate — no breaking
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// schema changes).
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type restingOrder struct {
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// Order is the public v0.3 SecondaryOrder (frozen contract). Carries
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// OrderID, BondID, Side, PriceGrain, HolderReachID, Status, CreatedAt.
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Order types.SecondaryOrder `json:"order" yaml:"order"`
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// PriceBps is the order price in basis points (the price as a fraction
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// of principal in bps — this is the implied coupon of a match at this
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// price; the CLOB matching engine's ImpliedCoupon helper derives the
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// per-match implied coupon from the resting order's price-bps, G-019).
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// Keeper-internal (the v0.3 SecondaryOrder has PriceGrain int64, not
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// PriceBps; the runtime uses PriceBps for the CLOB match).
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PriceBps uint32 `json:"price_bps" yaml:"price_bps"`
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// Sequence is the price-time-priority ordering key (monotonic; lower
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// sequence = earlier resting order = fills first at the same price —
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// REQ-007 FCFS).
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Sequence uint64 `json:"sequence" yaml:"sequence"`
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// RemainingQuantityGrain is the unfilled quantity of the order (a
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// resting order may be partially filled by an earlier match; the
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// remaining quantity is what later takers can match against).
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RemainingQuantityGrain int64 `json:"remaining_quantity_grain" yaml:"remaining_quantity_grain"`
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}
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// ImpliedCoupon is the G-019 BINDING helper: it derives the implied coupon
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// (in basis points) of a trade at the given price-bps against the principal.
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// The implied coupon is the fraction of principal the trade price represents,
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// expressed in bps: a price of 10000 bps (100% of principal) implies a 0-bps
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// coupon (par); a price of 9500 bps (95% of principal, a discount) implies a
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// 500-bps coupon (the buyer pays 95% of principal and receives the full
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// principal at maturity, earning a 500-bps coupon).
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//
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// The formula: impliedCouponBps = max(0, 10000 - priceBps).
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// - priceBps == 10000 (par) -> impliedCoupon 0 (no discount, no coupon).
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// - priceBps < 10000 (discount) -> impliedCoupon = 10000 - priceBps (the
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// discount is the implied coupon).
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// - priceBps > 10000 (premium) -> the discount is negative; the implied
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// coupon is floored at 0 (a premium bond has a 0 implied coupon — the
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// buyer pays MORE than principal, so the implied coupon is 0, not
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// negative).
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//
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// The principal argument is accepted for signature compatibility with the
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// plan text (G-019: "ImpliedCoupon(priceBps, principal)") but does not
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// affect the implied-coupon derivation for a fixed-coupon bond (the coupon
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// is the discount-from-par in bps, independent of the principal amount).
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// It is retained so a future v0.6+ amortization model can use it.
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//
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// G-019 boundary: the D-063 REJECT threshold is 800 bps. A match whose
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// ImpliedCoupon exceeds 800 (price-bps < 9200 — a discount greater than
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// 800 bps) is REJECTED (fails closed). The boundary unit test in
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// msg_server_simtest_test.go covers:
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// - price-bps 9200 -> ImpliedCoupon 800 (== cap, in-band, clears via Clamp).
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// - price-bps 9199 -> ImpliedCoupon 801 (> cap, REJECTED — D-063).
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// - price-bps 9201 -> ImpliedCoupon 799 (< cap, in-band, clears).
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func ImpliedCoupon(priceBps uint32, principalGrain int64) uint32 {
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_ = principalGrain // retained for G-019 signature compatibility; unused
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// at v0.5 (fixed-coupon bond — coupon is discount-from-par in bps).
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if priceBps >= 10000 {
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return 0 // par or premium -> 0 implied coupon (floored at 0)
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}
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return 10000 - priceBps // discount -> the discount is the implied coupon
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}
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// --- CLOB matching engine ----------------------------------------------------
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//
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// matchTaker attempts to match an incoming taker order against the resting
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// book for the given bond. Price-time priority FCFS per REQ-007:
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// - Buy taker matches against Sell resting orders with price-bps <= the
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// taker's price-bps, best (lowest) price first, then earliest sequence.
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// - Sell taker matches against Buy resting orders with price-bps >= the
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// taker's price-bps, best (highest) price first, then earliest sequence.
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//
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// Per D-063/A-562: every match's ImpliedCoupon is computed from the resting
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// order's price-bps; a match whose ImpliedCoupon EXCEEDS 800 bps is REJECTED
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// (fails closed). The rejection is PER-MATCH (not per-taker): if the best
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// resting order is above cap, that match is rejected, the resting order
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// stays on the book, and the taker does NOT advance to the next resting order
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// (fails closed — the taker is rejected; the resting book above cap is
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// unreachable). This is the mission-lock-true choice: the 8% cap is a hard
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// invariant, not a soft cap.
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//
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// Returns the total filled quantity, the list of filled order-ids (for
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// event emission), and a boolean indicating whether a per-match REJECT
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// occurred (D-063 — when true, no match occurred for the offending resting
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// order; the resting book is unchanged; the caller reports the reject).
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func (k Keeper) matchTaker(
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ctx sdk.Context,
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bondID string,
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takerSide types.OrderSide,
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takerPriceBps uint32,
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takerQuantityGrain int64,
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) (filledQuantityGrain int64, filledOrderIDs []string, rejected bool) {
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// Load the resting book for the bond.
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resting := k.restingBookForBond(ctx, bondID)
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// Sort for price-time priority.
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sortRestingBook(resting, takerSide)
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remaining := takerQuantityGrain
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filledOrderIDs = []string{}
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for i := range resting {
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if remaining <= 0 {
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break
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}
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ro := &resting[i]
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if ro.Order.Status != types.OrderOpen {
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continue // skip non-resting (defensive — the book holds Open only)
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}
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// Price check: does this resting order's price satisfy the taker?
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if !priceCrosses(takerSide, takerPriceBps, ro.PriceBps) {
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// The book is sorted best-price-first; once the price does not
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// cross, no later (worse-price) resting order will cross. Stop.
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break
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}
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// D-063 per-match coupon clamp (G-019 ImpliedCoupon helper). The
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// implied coupon is derived from the RESTING order's price-bps
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// (the price at which the match executes). A match above 800 bps
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// is REJECTED (fails closed — the resting order stays, the taker
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// does not advance).
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implied := ImpliedCoupon(ro.PriceBps, 0)
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if implied > types.CouponCapBps {
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// D-063 REJECT: the resting order stays on the book; the taker
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// is rejected (fails closed — no refund path, no advance to
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// the next resting order).
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return filledQuantityGrain, filledOrderIDs, true
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}
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// In-band match (implied coupon within [0, 800]). Clamp it (the
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// 8% cap is the firewall; Clamp is the helper — defense in depth,
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// though ImpliedCoupon <= 800 here so Clamp is a no-op).
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clampedCoupon := types.Clamp(implied)
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// Determine the fill quantity (the smaller of the taker's
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// remaining quantity and the resting order's remaining quantity).
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fill := remaining
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if ro.RemainingQuantityGrain < fill {
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fill = ro.RemainingQuantityGrain
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}
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// Update the resting order's remaining quantity.
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ro.RemainingQuantityGrain -= fill
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remaining -= fill
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filledQuantityGrain += fill
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filledOrderIDs = append(filledOrderIDs, ro.Order.OrderID)
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// If the resting order is fully filled, mark it Filled and delete
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// it from the book; otherwise persist the updated remaining.
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if ro.RemainingQuantityGrain <= 0 {
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ro.Order.Status = types.OrderFilled
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k.deleteRestingOrder(ctx, ro.Order.OrderID)
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} else {
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k.setRestingOrder(ctx, *ro)
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}
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// Emit a match event with the clamped coupon for simtest assertion.
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emitMatchEvent(ctx, ro.Order.OrderID, bondID, clampedCoupon, fill)
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}
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return filledQuantityGrain, filledOrderIDs, false
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}
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// restingBookForBond loads all resting orders for a given bond-id (the CLOB
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// book for that bond). The book is unordered here; matchTaker sorts it for
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// price-time priority.
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func (k Keeper) restingBookForBond(ctx sdk.Context, bondID string) []restingOrder {
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all := k.AllRestingOrders(ctx)
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out := make([]restingOrder, 0, len(all))
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for _, ro := range all {
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if ro.Order.BondID == bondID && ro.Order.Status == types.OrderOpen {
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out = append(out, ro)
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}
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}
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return out
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}
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// sortRestingBook sorts the resting book for price-time priority FCFS
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// (REQ-007). For a Buy taker (matching against Sell resting orders), the
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// best price is the LOWEST Sell price (cheapest to buy); for a Sell taker
|
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// (matching against Buy resting orders), the best price is the HIGHEST Buy
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// price (most expensive to sell to). Ties at the same price are broken by
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// sequence (earlier sequence fills first — FCFS).
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func sortRestingBook(book []restingOrder, takerSide types.OrderSide) {
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if takerSide == types.OrderBuy {
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// Buy taker: sort Sell resting orders by ascending price, then
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// ascending sequence (best price = lowest; FCFS at same price).
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sort.SliceStable(book, func(i, j int) bool {
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if book[i].PriceBps != book[j].PriceBps {
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return book[i].PriceBps < book[j].PriceBps
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}
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return book[i].Sequence < book[j].Sequence
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})
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} else {
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// Sell taker: sort Buy resting orders by descending price, then
|
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// ascending sequence (best price = highest; FCFS at same price).
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sort.SliceStable(book, func(i, j int) bool {
|
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if book[i].PriceBps != book[j].PriceBps {
|
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return book[i].PriceBps > book[j].PriceBps
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}
|
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return book[i].Sequence < book[j].Sequence
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})
|
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}
|
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}
|
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|
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// priceCrosses reports whether the taker's price satisfies the resting
|
||||
// order's price (a match can execute). For a Buy taker, the taker's price-
|
||||
// bps must be >= the resting Sell's price-bps (the buyer will pay up to
|
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// takerPriceBps; the seller asked for restingPriceBps; if taker >= resting,
|
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// the price crosses). For a Sell taker, the taker's price-bps must be <=
|
||||
// the resting Buy's price-bps (the seller will accept as low as
|
||||
// takerPriceBps; the buyer bid restingPriceBps; if taker <= resting, the
|
||||
// price crosses).
|
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func priceCrosses(takerSide types.OrderSide, takerPriceBps, restingPriceBps uint32) bool {
|
||||
if takerSide == types.OrderBuy {
|
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return takerPriceBps >= restingPriceBps
|
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}
|
||||
return takerPriceBps <= restingPriceBps
|
||||
}
|
||||
|
||||
// emitMatchEvent emits a per-match event for simtest assertion. The event
|
||||
// carries the resting order-id, the bond-id, the clamped matched coupon
|
||||
// (within [0, 800] bps — D-063 in-band), and the fill quantity.
|
||||
//
|
||||
// NOTE: emitMatchEvent is called from matchTaker, which is a Keeper method
|
||||
// (not on msgServer). The ctx is the sdk.Context passed to matchTaker. This
|
||||
// helper is defined here (not in msg_server.go) so the CLOB engine is
|
||||
// self-contained.
|
||||
func emitMatchEvent(ctx sdk.Context, restingOrderID, bondID string, matchedCouponBps uint32, fillQuantityGrain int64) {
|
||||
// Avoid importing sdk event helpers in clob.go to keep the import list
|
||||
// lean; delegate to the msg_server.go helper via a function variable.
|
||||
// (The simtest asserts events via ctx.EventManager().Events().)
|
||||
if emitMatchEventHook != nil {
|
||||
emitMatchEventHook(ctx, restingOrderID, bondID, matchedCouponBps, fillQuantityGrain)
|
||||
}
|
||||
}
|
||||
|
||||
// emitMatchEventHook is set by msg_server.go (which imports sdk event
|
||||
// helpers). This indirection keeps clob.go's import list minimal (sort +
|
||||
// types only) and avoids a circular dependency on the sdk event package.
|
||||
var emitMatchEventHook func(ctx sdk.Context, restingOrderID, bondID string, matchedCouponBps uint32, fillQuantityGrain int64)
|
||||
@@ -0,0 +1,261 @@
|
||||
package keeper
|
||||
|
||||
// keeper.go holds the store-backed Keeper for the bond module's market
|
||||
// runtime (P6-02-01, REQ-038, D-057 — CLOB price-time priority FCFS per
|
||||
// REQ-007; NO AMM — D-057/A-564).
|
||||
//
|
||||
// The Keeper wraps an sdk.KVStore via a storeKey. It holds:
|
||||
// - the issued bonds (bond-id → Bond);
|
||||
// - the issued GrowthBonds (bond-id → GrowthBond);
|
||||
// - the resting secondary-market orders (the CLOB book — order-id →
|
||||
// restingOrder, plus a per-bond price-time-priority sequence index in
|
||||
// clob.go).
|
||||
//
|
||||
// The Keeper also holds the StandKeeper expected-keeper shim (G-003 —
|
||||
// interface, NOT a struct import of x/stand/types; the concrete stand
|
||||
// keeper satisfies it structurally; the P6 simtest wires a stub).
|
||||
//
|
||||
// The 8%/0% consts (CouponCapBps=800 / CouponFloorBps=0, D-028) are
|
||||
// referenced DIRECTLY from x/bond/types (same package — NOT a local copy;
|
||||
// A-563). The REQ-030 cross-const test (x/hub LendingCouponCapBps ==
|
||||
// x/bond CouponCapBps) stays green because the consts are unchanged.
|
||||
//
|
||||
// State-machine ordering (vision §7, enforced in every handler):
|
||||
// ValidateBasic → keeper authz → state mutation → ctx.EventManager().EmitEvent
|
||||
//
|
||||
// D-054: simtest-grade — in-memory sdk.Context + dbm in-memory store, no
|
||||
// real IBC light clients, no real Stand keeper (the StandKeeper shim is a
|
||||
// stub), no real DEX venues. The handler is documented as NOT front-running-
|
||||
// safe for mainnet (a Year-3+ concern; the simtest does NOT assert front-
|
||||
// running safety).
|
||||
|
||||
import (
|
||||
"encoding/json"
|
||||
"fmt"
|
||||
|
||||
storetypes "cosmossdk.io/store/types"
|
||||
"github.com/cosmos/cosmos-sdk/codec"
|
||||
sdk "github.com/cosmos/cosmos-sdk/types"
|
||||
|
||||
"github.com/oy/openyield/x/bond/types"
|
||||
)
|
||||
|
||||
// Keeper is the store-backed bond market keeper.
|
||||
type Keeper struct {
|
||||
cdc codec.Codec
|
||||
storeKey storetypes.StoreKey
|
||||
standKeeper types.StandKeeper
|
||||
seq uint64 // monotonic sequence for price-time priority (CLOB)
|
||||
}
|
||||
|
||||
// NewKeeper constructs a new store-backed bond Keeper. The StandKeeper
|
||||
// expected-keeper shim is injected (nil-able for partial tests; the
|
||||
// IssueBond / IssueGrowthBond handlers guard a nil shim and skip the
|
||||
// StandExists check, still mutating state — the simtest wiring documents
|
||||
// this).
|
||||
func NewKeeper(cdc codec.Codec, storeKey storetypes.StoreKey, sk types.StandKeeper) Keeper {
|
||||
return Keeper{
|
||||
cdc: cdc,
|
||||
storeKey: storeKey,
|
||||
standKeeper: sk,
|
||||
}
|
||||
}
|
||||
|
||||
// SetStandKeeper sets the StandKeeper expected-keeper shim (for post-
|
||||
// construction wiring, e.g., app wiring or test setup).
|
||||
func (k *Keeper) SetStandKeeper(sk types.StandKeeper) { k.standKeeper = sk }
|
||||
|
||||
// StoreKey returns the keeper's store key (exported for simtest access to
|
||||
// the raw KVStore for corrupt-byte injection in marshal-error coverage
|
||||
// paths).
|
||||
func (k Keeper) StoreKey() storetypes.StoreKey { return k.storeKey }
|
||||
|
||||
// nextSequence returns the next monotonic sequence number for price-time
|
||||
// priority ordering on the CLOB book (REQ-007 FCFS — earlier resting orders
|
||||
// have lower sequence numbers and fill first at the same price). The
|
||||
// sequence is monotonically increasing across all orders in the keeper's
|
||||
// lifetime (simtest grade — not persisted across restarts; a live chain would
|
||||
// persist the sequence in the store).
|
||||
func (k *Keeper) nextSequence() uint64 {
|
||||
k.seq++
|
||||
return k.seq
|
||||
}
|
||||
|
||||
// --- Bond store --------------------------------------------------------------
|
||||
|
||||
var bondKeyPrefix = []byte("bond/")
|
||||
|
||||
func bondKey(bondID string) []byte {
|
||||
return append(bondKeyPrefix, []byte(bondID)...)
|
||||
}
|
||||
|
||||
// GetBond loads an issued Bond by bond-id. Returns the Bond and true if
|
||||
// found, or zero value + false if not.
|
||||
func (k Keeper) GetBond(ctx sdk.Context, bondID string) (types.Bond, bool) {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
bz := store.Get(bondKey(bondID))
|
||||
if bz == nil {
|
||||
return types.Bond{}, false
|
||||
}
|
||||
var b types.Bond
|
||||
if err := json.Unmarshal(bz, &b); err != nil {
|
||||
return types.Bond{}, false
|
||||
}
|
||||
return b, true
|
||||
}
|
||||
|
||||
// SetBond persists an issued Bond by bond-id.
|
||||
func (k Keeper) SetBond(ctx sdk.Context, b types.Bond) {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
bz, err := json.Marshal(b)
|
||||
if err != nil {
|
||||
panic(fmt.Sprintf("bond: marshal bond %q: %v", b.BondID, err))
|
||||
}
|
||||
store.Set(bondKey(b.BondID), bz)
|
||||
}
|
||||
|
||||
// AllBonds returns all issued Bonds (iteration helper, unordered).
|
||||
func (k Keeper) AllBonds(ctx sdk.Context) []types.Bond {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
iterator := store.Iterator(bondKeyPrefix, prefixEnd(bondKeyPrefix))
|
||||
defer iterator.Close()
|
||||
out := []types.Bond{}
|
||||
for ; iterator.Valid(); iterator.Next() {
|
||||
var b types.Bond
|
||||
if err := json.Unmarshal(iterator.Value(), &b); err == nil {
|
||||
out = append(out, b)
|
||||
}
|
||||
}
|
||||
return out
|
||||
}
|
||||
|
||||
// --- GrowthBond store --------------------------------------------------------
|
||||
|
||||
var growthBondKeyPrefix = []byte("growth/")
|
||||
|
||||
func growthBondKey(bondID string) []byte {
|
||||
return append(growthBondKeyPrefix, []byte(bondID)...)
|
||||
}
|
||||
|
||||
// GetGrowthBond loads an issued GrowthBond by bond-id. Returns the GrowthBond
|
||||
// and true if found, or zero value + false if not.
|
||||
func (k Keeper) GetGrowthBond(ctx sdk.Context, bondID string) (types.GrowthBond, bool) {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
bz := store.Get(growthBondKey(bondID))
|
||||
if bz == nil {
|
||||
return types.GrowthBond{}, false
|
||||
}
|
||||
var gb types.GrowthBond
|
||||
if err := json.Unmarshal(bz, &gb); err != nil {
|
||||
return types.GrowthBond{}, false
|
||||
}
|
||||
return gb, true
|
||||
}
|
||||
|
||||
// SetGrowthBond persists an issued GrowthBond by bond-id.
|
||||
func (k Keeper) SetGrowthBond(ctx sdk.Context, gb types.GrowthBond) {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
bz, err := json.Marshal(gb)
|
||||
if err != nil {
|
||||
panic(fmt.Sprintf("bond: marshal growth bond %q: %v", gb.BondID, err))
|
||||
}
|
||||
store.Set(growthBondKey(gb.BondID), bz)
|
||||
}
|
||||
|
||||
// AllGrowthBonds returns all issued GrowthBonds (iteration helper, unordered).
|
||||
func (k Keeper) AllGrowthBonds(ctx sdk.Context) []types.GrowthBond {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
iterator := store.Iterator(growthBondKeyPrefix, prefixEnd(growthBondKeyPrefix))
|
||||
defer iterator.Close()
|
||||
out := []types.GrowthBond{}
|
||||
for ; iterator.Valid(); iterator.Next() {
|
||||
var gb types.GrowthBond
|
||||
if err := json.Unmarshal(iterator.Value(), &gb); err == nil {
|
||||
out = append(out, gb)
|
||||
}
|
||||
}
|
||||
return out
|
||||
}
|
||||
|
||||
// --- Order store (CLOB resting book) -----------------------------------------
|
||||
//
|
||||
// The resting book is keyed by order-id → restingOrder (the in-keeper book
|
||||
// entry carrying the order + its price-time-priority sequence). The CLOB
|
||||
// matching engine (clob.go) loads all resting orders for a bond, sorts them
|
||||
// by (price, sequence) for price-time priority FCFS, and matches the
|
||||
// incoming taker against the best opposing price until filled or the book
|
||||
// is empty.
|
||||
|
||||
var orderKeyPrefix = []byte("order/")
|
||||
|
||||
func orderKey(orderID string) []byte {
|
||||
return append(orderKeyPrefix, []byte(orderID)...)
|
||||
}
|
||||
|
||||
// GetRestingOrder loads a resting order by order-id. Returns the order and
|
||||
// true if found, or zero value + false if not.
|
||||
func (k Keeper) GetRestingOrder(ctx sdk.Context, orderID string) (restingOrder, bool) {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
bz := store.Get(orderKey(orderID))
|
||||
if bz == nil {
|
||||
return restingOrder{}, false
|
||||
}
|
||||
var o restingOrder
|
||||
if err := json.Unmarshal(bz, &o); err != nil {
|
||||
return restingOrder{}, false
|
||||
}
|
||||
return o, true
|
||||
}
|
||||
|
||||
// setRestingOrder persists a resting order by order-id.
|
||||
func (k Keeper) setRestingOrder(ctx sdk.Context, o restingOrder) {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
bz, err := json.Marshal(o)
|
||||
if err != nil {
|
||||
panic(fmt.Sprintf("bond: marshal order %q: %v", o.Order.OrderID, err))
|
||||
}
|
||||
store.Set(orderKey(o.Order.OrderID), bz)
|
||||
}
|
||||
|
||||
// deleteRestingOrder removes a resting order by order-id.
|
||||
func (k Keeper) deleteRestingOrder(ctx sdk.Context, orderID string) {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
store.Delete(orderKey(orderID))
|
||||
}
|
||||
|
||||
// AllRestingOrders returns all resting orders (iteration helper, unordered).
|
||||
// Exported for simtest assertion.
|
||||
func (k Keeper) AllRestingOrders(ctx sdk.Context) []restingOrder {
|
||||
store := ctx.KVStore(k.storeKey)
|
||||
iterator := store.Iterator(orderKeyPrefix, prefixEnd(orderKeyPrefix))
|
||||
defer iterator.Close()
|
||||
out := []restingOrder{}
|
||||
for ; iterator.Valid(); iterator.Next() {
|
||||
var o restingOrder
|
||||
if err := json.Unmarshal(iterator.Value(), &o); err == nil {
|
||||
out = append(out, o)
|
||||
}
|
||||
}
|
||||
return out
|
||||
}
|
||||
|
||||
// --- prefixEnd helper --------------------------------------------------------
|
||||
|
||||
// prefixEnd returns the key that sorts immediately after all keys sharing
|
||||
// the given prefix (the standard prefix-iteration end key: increment the
|
||||
// last byte, drop overflow). Mirrors x/hub/keeper/keeper.go.
|
||||
func prefixEnd(prefix []byte) []byte {
|
||||
if len(prefix) == 0 {
|
||||
return nil
|
||||
}
|
||||
end := make([]byte, len(prefix))
|
||||
copy(end, prefix)
|
||||
for i := len(end) - 1; i >= 0; i-- {
|
||||
end[i]++
|
||||
if end[i] != 0 {
|
||||
return end
|
||||
}
|
||||
}
|
||||
// All bytes were 0xFF; return nil (iterate to end of store).
|
||||
return nil
|
||||
}
|
||||
@@ -0,0 +1,428 @@
|
||||
package keeper
|
||||
|
||||
// msg_server.go implements the bond module's MsgServer (P6-02-01, REQ-038;
|
||||
// G-023 ownership split: cosmos-engineer scaffolds the file structure +
|
||||
// method signatures; backend-engineer implements the handler logic bodies;
|
||||
// security-engineer reviews the CLOB per-match clamp D-063 + the 8%/0%
|
||||
// const firewall A-563). The MsgServer wraps the Keeper + the StandKeeper
|
||||
// expected-keeper shim (already on the Keeper).
|
||||
//
|
||||
// Each method returns a (*Response, error). Handler state-machine ordering
|
||||
// is enforced: ValidateBasic → keeper authz → state mutation →
|
||||
// ctx.EventManager().EmitEvent.
|
||||
//
|
||||
// Handler set (REQ-038):
|
||||
// - IssueBond: invokes v0.3 Clamp on the coupon at issuance (the clamped
|
||||
// value is recorded, NOT the original). StandKeeper shim validates the
|
||||
// issuer-stand-id exists (P1-02-01 stand-id-ref edge).
|
||||
// - IssueGrowthBond: invokes Clamp on the coupon + ClampGrowth on the
|
||||
// growth-rate (post-growth coupon <= cap, G-012).
|
||||
// - TickGrowthBond: applies one growth tick (coupon += growth-rate, then
|
||||
// clamped so post-growth <= cap via ClampGrowth with currentBps = the
|
||||
// current coupon).
|
||||
// - PlaceSecondaryOrder: rests a secondary-market order on the CLOB book
|
||||
// (price-time priority FCFS per REQ-007; NO AMM — D-057).
|
||||
// - CancelSecondaryOrder: removes a resting order (status -> Cancelled).
|
||||
// - MatchSecondaryOrder: CLOB match against the resting book (per-tx
|
||||
// matching, dYdX-v4-shaped); per-match coupon clamp via the G-019
|
||||
// ImpliedCoupon helper; D-063 REJECT above 800 (fails closed).
|
||||
//
|
||||
// Nil-shim behavior (simtest wiring): a nil StandKeeper shim skips the
|
||||
// StandExists check (the handler still mutates state — the simtest documents
|
||||
// the wiring contract). The 8%/0% consts are referenced directly from
|
||||
// x/bond/types (same package — NOT a local copy; A-563); the REQ-030
|
||||
// cross-const test stays green.
|
||||
//
|
||||
// The handler is documented as NOT front-running-safe for mainnet (a
|
||||
// Year-3+ concern; the simtest does NOT assert front-running safety — D-054).
|
||||
|
||||
import (
|
||||
"fmt"
|
||||
|
||||
sdk "github.com/cosmos/cosmos-sdk/types"
|
||||
|
||||
"github.com/oy/openyield/x/bond/types"
|
||||
)
|
||||
|
||||
// init wires the emitMatchEventHook so the CLOB engine (clob.go) emits
|
||||
// sdk events via the keeper's ctx without importing the sdk event helpers
|
||||
// in clob.go (keeps clob.go's import list minimal).
|
||||
func init() {
|
||||
emitMatchEventHook = func(ctx sdk.Context, restingOrderID, bondID string, matchedCouponBps uint32, fillQuantityGrain int64) {
|
||||
ctx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.match",
|
||||
sdk.NewAttribute("resting_order_id", restingOrderID),
|
||||
sdk.NewAttribute("bond_id", bondID),
|
||||
sdk.NewAttribute("matched_coupon_bps", fmt.Sprintf("%d", matchedCouponBps)),
|
||||
sdk.NewAttribute("fill_quantity_grain", fmt.Sprintf("%d", fillQuantityGrain)),
|
||||
))
|
||||
}
|
||||
}
|
||||
|
||||
// msgServer is the concrete MsgServer implementation wrapping the Keeper.
|
||||
type msgServer struct {
|
||||
Keeper
|
||||
}
|
||||
|
||||
// NewMsgServerImpl returns the bond MsgServer for the provided Keeper.
|
||||
func NewMsgServerImpl(k Keeper) types.MsgServer {
|
||||
return &msgServer{Keeper: k}
|
||||
}
|
||||
|
||||
var _ types.MsgServer = msgServer{}
|
||||
|
||||
// unwrapCtx extracts the sdk.Context from the interface-typed ctx.
|
||||
func unwrapCtx(ctx interface{}) sdk.Context {
|
||||
if c, ok := ctx.(sdk.Context); ok {
|
||||
return c
|
||||
}
|
||||
panic(fmt.Sprintf("bond: expected sdk.Context, got %T", ctx))
|
||||
}
|
||||
|
||||
// --- IssueBond ---------------------------------------------------------------
|
||||
|
||||
// IssueBond issues a fixed-coupon Bond (REQ-038). The handler enforces:
|
||||
// 1. ValidateBasic (stateless).
|
||||
// 2. Idempotency: bond-id must not already exist.
|
||||
// 3. StandKeeper shim: the issuer-stand-id must reference an existing
|
||||
// Stand (P1-02-01 stand-id-ref edge). A nil shim skips this check
|
||||
// (simtest wiring); a non-nil shim that returns false REJECTS the
|
||||
// issuance (the bond is not created).
|
||||
// 4. Coupon clamp: the coupon-bps is CLAMPED to [CouponFloorBps=0,
|
||||
// CouponCapBps=800] at runtime via the v0.3 Clamp helper (A-563 —
|
||||
// defense in depth; ValidateBasic already rejected out-of-band, but the
|
||||
// handler re-clamps to defend against any future cap change).
|
||||
//
|
||||
// On success the Bond is persisted with the clamped coupon and an event is
|
||||
// emitted.
|
||||
func (s msgServer) IssueBond(ctx interface{}, msg *types.MsgIssueBond) (*types.MsgIssueBondResponse, error) {
|
||||
if err := msg.ValidateBasic(); err != nil {
|
||||
return nil, err
|
||||
}
|
||||
sdkCtx := unwrapCtx(ctx)
|
||||
|
||||
// Idempotency: bond-id must not already exist.
|
||||
if _, ok := s.Keeper.GetBond(sdkCtx, msg.BondID); ok {
|
||||
return nil, fmt.Errorf("bond: bond-id %q already exists", msg.BondID)
|
||||
}
|
||||
|
||||
// StandKeeper: issuer-stand-id must reference an existing Stand (P1-02-01
|
||||
// edge). A nil shim skips the check (simtest wiring); a non-nil shim that
|
||||
// returns false REJECTS the issuance.
|
||||
if s.Keeper.standKeeper != nil {
|
||||
if !s.Keeper.standKeeper.StandExists(msg.IssuerStandID) {
|
||||
return nil, fmt.Errorf("bond: issuer-stand-id %q does not exist (IssueBond rejected)", msg.IssuerStandID)
|
||||
}
|
||||
}
|
||||
|
||||
// A-563: coupon clamp at runtime. The clamped value (NOT the original)
|
||||
// is recorded. ValidateBasic already rejected out-of-band, so Clamp is
|
||||
// a no-op here; the re-clamp is defense in depth against any future cap
|
||||
// change.
|
||||
clamped := types.Clamp(msg.CouponBps)
|
||||
b := types.Issue(msg.BondID, msg.IssuerStandID, msg.PrincipalGrain, clamped, msg.TermDays, msg.IssuedAt, msg.Maturity)
|
||||
s.Keeper.SetBond(sdkCtx, b)
|
||||
|
||||
if clamped != msg.CouponBps {
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.coupon_clamped",
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("original_coupon_bps", fmt.Sprintf("%d", msg.CouponBps)),
|
||||
sdk.NewAttribute("clamped_coupon_bps", fmt.Sprintf("%d", clamped)),
|
||||
))
|
||||
}
|
||||
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.issued",
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("issuer_stand_id", msg.IssuerStandID),
|
||||
sdk.NewAttribute("coupon_bps", fmt.Sprintf("%d", clamped)),
|
||||
))
|
||||
return &types.MsgIssueBondResponse{ClampedCouponBps: clamped}, nil
|
||||
}
|
||||
|
||||
// --- IssueGrowthBond ---------------------------------------------------------
|
||||
|
||||
// IssueGrowthBond issues a GrowthBond (REQ-038). The handler enforces:
|
||||
// 1. ValidateBasic (stateless).
|
||||
// 2. Idempotency: bond-id must not already exist (as a Bond or GrowthBond).
|
||||
// 3. StandKeeper shim: the issuer-stand-id must reference an existing
|
||||
// Stand (P1-02-01 edge). A nil shim skips (simtest wiring).
|
||||
// 4. Coupon clamp + growth clamp: the coupon is CLAMPED to [0, 800] via
|
||||
// Clamp, and the growth-rate is CLAMPED via ClampGrowth so post-growth
|
||||
// coupon <= cap (G-012).
|
||||
//
|
||||
// On success the GrowthBond is persisted with the clamped coupon + clamped
|
||||
// growth-rate and an event is emitted.
|
||||
func (s msgServer) IssueGrowthBond(ctx interface{}, msg *types.MsgIssueGrowthBond) (*types.MsgIssueGrowthBondResponse, error) {
|
||||
if err := msg.ValidateBasic(); err != nil {
|
||||
return nil, err
|
||||
}
|
||||
sdkCtx := unwrapCtx(ctx)
|
||||
|
||||
// Idempotency: bond-id must not already exist (as Bond or GrowthBond).
|
||||
if _, ok := s.Keeper.GetBond(sdkCtx, msg.BondID); ok {
|
||||
return nil, fmt.Errorf("bond: bond-id %q already exists (as a Bond)", msg.BondID)
|
||||
}
|
||||
if _, ok := s.Keeper.GetGrowthBond(sdkCtx, msg.BondID); ok {
|
||||
return nil, fmt.Errorf("bond: bond-id %q already exists (as a GrowthBond)", msg.BondID)
|
||||
}
|
||||
|
||||
// StandKeeper: issuer-stand-id must reference an existing Stand.
|
||||
if s.Keeper.standKeeper != nil {
|
||||
if !s.Keeper.standKeeper.StandExists(msg.IssuerStandID) {
|
||||
return nil, fmt.Errorf("bond: issuer-stand-id %q does not exist (IssueGrowthBond rejected)", msg.IssuerStandID)
|
||||
}
|
||||
}
|
||||
|
||||
// Coupon clamp + growth clamp. The v0.3 IssueGrowth helper clamps the
|
||||
// coupon via Clamp and the growth-rate via ClampGrowth (G-012).
|
||||
clampedCoupon := types.Clamp(msg.CouponBps)
|
||||
clampedGrowth := types.ClampGrowth(clampedCoupon, msg.GrowthRateBps)
|
||||
gb := types.IssueGrowth(msg.BondID, msg.IssuerStandID, msg.PrincipalGrain, clampedCoupon, clampedGrowth, msg.TermDays, msg.IssuedAt, msg.Maturity)
|
||||
s.Keeper.SetGrowthBond(sdkCtx, gb)
|
||||
|
||||
if clampedCoupon != msg.CouponBps || clampedGrowth != msg.GrowthRateBps {
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.growth_coupon_clamped",
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("original_coupon_bps", fmt.Sprintf("%d", msg.CouponBps)),
|
||||
sdk.NewAttribute("clamped_coupon_bps", fmt.Sprintf("%d", clampedCoupon)),
|
||||
sdk.NewAttribute("original_growth_rate_bps", fmt.Sprintf("%d", msg.GrowthRateBps)),
|
||||
sdk.NewAttribute("clamped_growth_rate_bps", fmt.Sprintf("%d", clampedGrowth)),
|
||||
))
|
||||
}
|
||||
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.growth_issued",
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("issuer_stand_id", msg.IssuerStandID),
|
||||
sdk.NewAttribute("coupon_bps", fmt.Sprintf("%d", clampedCoupon)),
|
||||
sdk.NewAttribute("growth_rate_bps", fmt.Sprintf("%d", clampedGrowth)),
|
||||
))
|
||||
return &types.MsgIssueGrowthBondResponse{
|
||||
ClampedCouponBps: clampedCoupon,
|
||||
ClampedGrowthRateBps: clampedGrowth,
|
||||
}, nil
|
||||
}
|
||||
|
||||
// --- TickGrowthBond ----------------------------------------------------------
|
||||
|
||||
// TickGrowthBond applies one growth tick to a GrowthBond (REQ-038). The
|
||||
// handler enforces:
|
||||
// 1. ValidateBasic (stateless).
|
||||
// 2. The GrowthBond must exist.
|
||||
// 3. Growth tick: the coupon grows by the growth-rate, clamped so post-
|
||||
// growth coupon <= CouponCapBps via ClampGrowth (with currentBps = the
|
||||
// current coupon). The growth-rate is NOT changed (it persists across
|
||||
// ticks).
|
||||
//
|
||||
// On success the GrowthBond's coupon is updated to the post-growth (clamped)
|
||||
// value and an event is emitted.
|
||||
func (s msgServer) TickGrowthBond(ctx interface{}, msg *types.MsgTickGrowthBond) (*types.MsgTickGrowthBondResponse, error) {
|
||||
if err := msg.ValidateBasic(); err != nil {
|
||||
return nil, err
|
||||
}
|
||||
sdkCtx := unwrapCtx(ctx)
|
||||
|
||||
gb, ok := s.Keeper.GetGrowthBond(sdkCtx, msg.BondID)
|
||||
if !ok {
|
||||
return nil, fmt.Errorf("bond: growth-bond %q not found (TickGrowthBond rejected)", msg.BondID)
|
||||
}
|
||||
|
||||
// Growth tick: coupon += growth-rate, clamped so post-growth <= cap.
|
||||
// ClampGrowth(currentBps=current coupon, growthBps=growth-rate) returns
|
||||
// the additional bps the coupon can grow; post-growth coupon = current +
|
||||
// additional, which is <= cap by ClampGrowth's G-012 guard.
|
||||
additional := types.ClampGrowth(gb.CouponBps, gb.GrowthRateBps)
|
||||
postGrowth := gb.CouponBps + additional
|
||||
gb.CouponBps = postGrowth
|
||||
s.Keeper.SetGrowthBond(sdkCtx, gb)
|
||||
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.growth_ticked",
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("post_growth_coupon_bps", fmt.Sprintf("%d", postGrowth)),
|
||||
sdk.NewAttribute("growth_rate_bps", fmt.Sprintf("%d", gb.GrowthRateBps)),
|
||||
))
|
||||
return &types.MsgTickGrowthBondResponse{PostGrowthCouponBps: postGrowth}, nil
|
||||
}
|
||||
|
||||
// --- PlaceSecondaryOrder -----------------------------------------------------
|
||||
|
||||
// PlaceSecondaryOrder rests a secondary-market order on the CLOB book
|
||||
// (REQ-038, D-057 — price-time priority FCFS per REQ-007; NO AMM). The
|
||||
// handler enforces:
|
||||
// 1. ValidateBasic (stateless).
|
||||
// 2. Idempotency: order-id must not already exist.
|
||||
// 3. The referenced bond must exist (the order rests on an issued bond).
|
||||
// 4. The order is rested on the book with a monotonic sequence for price-
|
||||
// time priority (REQ-007 FCFS — earlier resting orders fill first at
|
||||
// the same price).
|
||||
//
|
||||
// On success the order is persisted as Open (resting) and an event is
|
||||
// emitted.
|
||||
func (s msgServer) PlaceSecondaryOrder(ctx interface{}, msg *types.MsgPlaceSecondaryOrder) (*types.MsgPlaceSecondaryOrderResponse, error) {
|
||||
if err := msg.ValidateBasic(); err != nil {
|
||||
return nil, err
|
||||
}
|
||||
sdkCtx := unwrapCtx(ctx)
|
||||
|
||||
// Idempotency: order-id must not already exist.
|
||||
if _, ok := s.Keeper.GetRestingOrder(sdkCtx, msg.OrderID); ok {
|
||||
return nil, fmt.Errorf("bond: order-id %q already exists (PlaceSecondaryOrder rejected)", msg.OrderID)
|
||||
}
|
||||
// The referenced bond must exist (the order rests on an issued bond).
|
||||
if _, ok := s.Keeper.GetBond(sdkCtx, msg.BondID); !ok {
|
||||
if _, ok := s.Keeper.GetGrowthBond(sdkCtx, msg.BondID); !ok {
|
||||
return nil, fmt.Errorf("bond: bond-id %q does not exist (PlaceSecondaryOrder rejected)", msg.BondID)
|
||||
}
|
||||
}
|
||||
|
||||
// Construct the public v0.3 SecondaryOrder (the frozen contract). The
|
||||
// price-bps is stored on the keeper-internal restingOrder (NOT on the
|
||||
// public SecondaryOrder, which has PriceGrain int64 — feature purity
|
||||
// gate: the v0.3 contract is not amended). PriceGrain is seeded from
|
||||
// PriceBps for cross-reference (the v0.3 field retains a value for
|
||||
// genesis round-trip; the CLOB match uses PriceBps).
|
||||
so := types.SecondaryOrder{
|
||||
OrderID: msg.OrderID,
|
||||
BondID: msg.BondID,
|
||||
Side: msg.Side,
|
||||
PriceGrain: int64(msg.PriceBps),
|
||||
HolderReachID: msg.HolderReachID,
|
||||
Status: types.OrderOpen,
|
||||
CreatedAt: sdkCtx.BlockTime().Unix(),
|
||||
}
|
||||
ro := restingOrder{
|
||||
Order: so,
|
||||
PriceBps: msg.PriceBps,
|
||||
Sequence: s.Keeper.nextSequence(),
|
||||
RemainingQuantityGrain: msg.QuantityGrain,
|
||||
}
|
||||
s.Keeper.setRestingOrder(sdkCtx, ro)
|
||||
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.order_placed",
|
||||
sdk.NewAttribute("order_id", msg.OrderID),
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("side", string(msg.Side)),
|
||||
sdk.NewAttribute("price_bps", fmt.Sprintf("%d", msg.PriceBps)),
|
||||
sdk.NewAttribute("quantity_grain", fmt.Sprintf("%d", msg.QuantityGrain)),
|
||||
))
|
||||
return &types.MsgPlaceSecondaryOrderResponse{}, nil
|
||||
}
|
||||
|
||||
// --- CancelSecondaryOrder ----------------------------------------------------
|
||||
|
||||
// CancelSecondaryOrder cancels a resting order (REQ-038). The handler
|
||||
// enforces:
|
||||
// 1. ValidateBasic (stateless).
|
||||
// 2. The order must exist and be Open (resting).
|
||||
// 3. The order is removed from the book (status -> Cancelled; the resting
|
||||
// entry is deleted).
|
||||
//
|
||||
// On success the order is cancelled and an event is emitted.
|
||||
func (s msgServer) CancelSecondaryOrder(ctx interface{}, msg *types.MsgCancelSecondaryOrder) (*types.MsgCancelSecondaryOrderResponse, error) {
|
||||
if err := msg.ValidateBasic(); err != nil {
|
||||
return nil, err
|
||||
}
|
||||
sdkCtx := unwrapCtx(ctx)
|
||||
|
||||
ro, ok := s.Keeper.GetRestingOrder(sdkCtx, msg.OrderID)
|
||||
if !ok {
|
||||
return nil, fmt.Errorf("bond: order %q not found (CancelSecondaryOrder rejected)", msg.OrderID)
|
||||
}
|
||||
if ro.Order.Status != types.OrderOpen {
|
||||
return nil, fmt.Errorf("bond: order %q is not Open (status %q — CancelSecondaryOrder rejected)", msg.OrderID, ro.Order.Status)
|
||||
}
|
||||
|
||||
ro.Order.Status = types.OrderCancelled
|
||||
// Persist the cancelled status (retain for audit) then delete the
|
||||
// resting entry so it leaves the CLOB book. The Cancelled status is
|
||||
// observable via the v0.3 SecondaryOrder.Status field on the persisted
|
||||
// entry (the restingOrder embeds it). We delete the resting book entry
|
||||
// (the CLOB book holds Open orders only); the cancel event carries the
|
||||
// status for audit.
|
||||
s.Keeper.deleteRestingOrder(sdkCtx, msg.OrderID)
|
||||
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.order_cancelled",
|
||||
sdk.NewAttribute("order_id", msg.OrderID),
|
||||
sdk.NewAttribute("status", string(types.OrderCancelled)),
|
||||
))
|
||||
return &types.MsgCancelSecondaryOrderResponse{}, nil
|
||||
}
|
||||
|
||||
// --- MatchSecondaryOrder (D-057 CLOB, D-063 per-match REJECT) ---------------
|
||||
|
||||
// MatchSecondaryOrder matches an incoming taker order against the resting
|
||||
// book (REQ-038, D-057 — CLOB price-time priority FCFS per REQ-007; per-tx
|
||||
// matching, dYdX-v4-shaped). The handler enforces:
|
||||
// 1. ValidateBasic (stateless).
|
||||
// 2. The referenced bond must exist.
|
||||
// 3. The CLOB match (clob.go matchTaker): the incoming taker matches
|
||||
// against the best opposing resting price until filled or the book is
|
||||
// empty. Per D-063/A-562: a match whose ImpliedCoupon EXCEEDS 800 bps
|
||||
// is REJECTED (fails closed — the resting order stays, the incoming
|
||||
// order rests or is cancelled; no refund path).
|
||||
//
|
||||
// On success the matched resting orders are Filled (fully) or partially
|
||||
// filled (remaining quantity updated), a match event is emitted per match
|
||||
// (with the clamped matched coupon in [0, 800] bps), and the response reports
|
||||
// the total filled quantity + whether a per-match REJECT occurred.
|
||||
//
|
||||
// The handler is documented as NOT front-running-safe for mainnet (a
|
||||
// Year-3+ concern; the simtest does NOT assert front-running safety — D-054).
|
||||
func (s msgServer) MatchSecondaryOrder(ctx interface{}, msg *types.MsgMatchSecondaryOrder) (*types.MsgMatchSecondaryOrderResponse, error) {
|
||||
if err := msg.ValidateBasic(); err != nil {
|
||||
return nil, err
|
||||
}
|
||||
sdkCtx := unwrapCtx(ctx)
|
||||
|
||||
// The referenced bond must exist.
|
||||
if _, ok := s.Keeper.GetBond(sdkCtx, msg.BondID); !ok {
|
||||
if _, ok := s.Keeper.GetGrowthBond(sdkCtx, msg.BondID); !ok {
|
||||
return nil, fmt.Errorf("bond: bond-id %q does not exist (MatchSecondaryOrder rejected)", msg.BondID)
|
||||
}
|
||||
}
|
||||
|
||||
// CLOB match (clob.go). The taker's side is the OPPOSITE of the resting
|
||||
// orders it matches against: a Buy taker matches against Sell resting
|
||||
// orders; a Sell taker matches against Buy resting orders.
|
||||
filled, _, rejected := s.Keeper.matchTaker(
|
||||
sdkCtx,
|
||||
msg.BondID,
|
||||
msg.Side,
|
||||
msg.PriceBps,
|
||||
msg.QuantityGrain,
|
||||
)
|
||||
|
||||
if rejected {
|
||||
// D-063 REJECT: a match above 800 bps was attempted. The resting
|
||||
// order stays on the book; the incoming taker is rejected (fails
|
||||
// closed — no refund path, no advance to the next resting order).
|
||||
// Emit a reject event for simtest assertion.
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.match_rejected_above_cap",
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("incoming_order_id", msg.IncomingOrderID),
|
||||
sdk.NewAttribute("cap_bps", fmt.Sprintf("%d", types.CouponCapBps)),
|
||||
))
|
||||
return &types.MsgMatchSecondaryOrderResponse{
|
||||
FilledQuantityGrain: filled,
|
||||
Rejected: true,
|
||||
}, fmt.Errorf("bond: match rejected (implied coupon above %d bps — D-063 fails closed; resting order stays)", types.CouponCapBps)
|
||||
}
|
||||
|
||||
sdkCtx.EventManager().EmitEvent(sdk.NewEvent(
|
||||
"bond.match_completed",
|
||||
sdk.NewAttribute("bond_id", msg.BondID),
|
||||
sdk.NewAttribute("incoming_order_id", msg.IncomingOrderID),
|
||||
sdk.NewAttribute("filled_quantity_grain", fmt.Sprintf("%d", filled)),
|
||||
))
|
||||
return &types.MsgMatchSecondaryOrderResponse{
|
||||
FilledQuantityGrain: filled,
|
||||
Rejected: false,
|
||||
}, nil
|
||||
}
|
||||
File diff suppressed because it is too large
Load Diff
Reference in New Issue
Block a user