Show the correct number of days when pool is younger than rate period (…

…#1481) * Add ratePeriodDays to useLpApy and useVaultRate hooks * Update PoolRow to display the ratePeriodDays * Update other places we display rate period
delvtech · Sep 11, 2024 · 34509b9 · 34509b9
1 parent b0fec7a
commit 34509b9
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Showing 6 changed files with 107 additions and 33 deletions.
diff --git a/apps/hyperdrive-trading/src/hyperdrive/getYieldSourceRate.ts b/apps/hyperdrive-trading/src/hyperdrive/getYieldSourceRate.ts
@@ -1,40 +1,86 @@
 import { Block, ReadHyperdrive } from "@delvtech/hyperdrive-viem";
-import { AppConfig, findHyperdriveConfig } from "@hyperdrive/appconfig";
+import {
+  AppConfig,
+  findHyperdriveConfig,
+  HyperdriveConfig,
+} from "@hyperdrive/appconfig";
+import { convertMillisecondsToDays } from "src/base/convertMillisecondsToDays";
 import { isForkChain } from "src/chains/isForkChain";
 
 export async function getYieldSourceRate(
   readHyperdrive: ReadHyperdrive,
   appConfig: AppConfig,
-): Promise<bigint> {
+): Promise<{ rate: bigint; ratePeriodDays: number }> {
   const hyperdriveChainId = await readHyperdrive.network.getChainId();
   const hyperdrive = findHyperdriveConfig({
     hyperdriveChainId,
     hyperdriveAddress: readHyperdrive.address,
     hyperdrives: appConfig.hyperdrives,
   });
+
+  const numBlocksForHistoricalRate = getNumBlocksForHistoricalRate({
+    appConfig,
+    hyperdrive,
+  });
+
+  const currentBlock = (await readHyperdrive.network.getBlock()) as Block;
+  const initializationBlock = hyperdrive.initializationBlock;
+
+  const isPoolYoungerThanOneRatePeriod =
+    initializationBlock >
+    currentBlock.blockNumber! - numBlocksForHistoricalRate;
+
+  // If we don't have enough blocks to go back 1 full historical period, then
+  // grab the all-time rate instead.
+  if (isPoolYoungerThanOneRatePeriod) {
+    const blocksSinceInitialization =
+      currentBlock.blockNumber! - initializationBlock;
+
+    const daysSinceInitialization = convertMillisecondsToDays(
+      Date.now() - Number(hyperdrive.initializationTimestamp * 1000n),
+    );
+
+    return {
+      rate: await readHyperdrive.getYieldSourceRate({
+        blockRange: blocksSinceInitialization,
+      }),
+      ratePeriodDays: daysSinceInitialization,
+    };
+  }
+
+  const rate = await readHyperdrive.getYieldSourceRate({
+    blockRange: numBlocksForHistoricalRate,
+  });
+
+  return {
+    rate,
+    ratePeriodDays:
+      appConfig.yieldSources[hyperdrive.yieldSource].historicalRatePeriod,
+  };
+}
+
+function getNumBlocksForHistoricalRate({
+  appConfig,
+  hyperdrive,
+}: {
+  appConfig: AppConfig;
+  hyperdrive: HyperdriveConfig;
+}) {
+  const blocksPerDay = appConfig.chains[hyperdrive.chainId].dailyAverageBlocks;
+  const historicalRatePeriod =
+    appConfig.yieldSources[hyperdrive.yieldSource].historicalRatePeriod;
+
   const numBlocksForHistoricalRate = isForkChain(hyperdrive.chainId)
     ? 1000n // roughly 3 hours for cloudchain
-    : appConfig.chains[hyperdrive.chainId].dailyAverageBlocks *
-      BigInt(
-        appConfig.yieldSources[hyperdrive.yieldSource].historicalRatePeriod,
-      );
-
-  return (
-    readHyperdrive
-      .getYieldSourceRate({
-        blockRange: numBlocksForHistoricalRate,
-      })
-      // If the 24 hour rate doesn't exist, assume the pool was initialized less
-      // than 24 hours ago and try to get the all-time rate
-      .catch(async () => {
-        const currentBlock = (await readHyperdrive.network.getBlock()) as Block;
-        const initializationBlock = hyperdrive.initializationBlock;
-        const blocksSinceInitialization =
-          currentBlock.blockNumber! - initializationBlock;
-
-        return readHyperdrive.getYieldSourceRate({
-          blockRange: blocksSinceInitialization,
-        });
-      })
-  );
+    : blocksPerDay * BigInt(historicalRatePeriod);
+
+  return numBlocksForHistoricalRate;
+}
+
+function getDaysSinceInitialization({
+  hyperdrive,
+}: {
+  hyperdrive: HyperdriveConfig;
+}): number {
+  return Number(hyperdrive.initializationTimestamp * 1000n) - Date.now();
 }
diff --git a/apps/hyperdrive-trading/src/ui/hyperdrive/hooks/useLpApy.ts b/apps/hyperdrive-trading/src/ui/hyperdrive/hooks/useLpApy.ts
@@ -1,5 +1,7 @@
+import { Block } from "@delvtech/hyperdrive-viem";
 import { findHyperdriveConfig } from "@hyperdrive/appconfig";
 import { useQuery } from "@tanstack/react-query";
+import { convertMillisecondsToDays } from "src/base/convertMillisecondsToDays";
 import { formatRate } from "src/base/formatRate";
 import { makeQueryKey } from "src/base/makeQueryKey";
 import { isForkChain } from "src/chains/isForkChain";
@@ -16,7 +18,9 @@ export function useLpApy({
   hyperdriveAddress: Address;
   chainId: number;
 }): {
-  lpApy: { lpApy: bigint; formatted: string } | undefined;
+  lpApy:
+    | { lpApy: bigint; formatted: string; ratePeriodDays: number }
+    | undefined;
   lpApyStatus: "error" | "success" | "loading";
 } {
   const { poolInfo: currentPoolInfo } = usePoolInfo({
@@ -58,8 +62,26 @@ export function useLpApy({
                 blockNumber - numBlocksForHistoricalRate,
           });
 
+          // Figure out if the pool is younger than 1 rate period
+          const currentBlock =
+            (await readHyperdrive.network.getBlock()) as Block;
+          const isPoolYoungerThanOneRatePeriod =
+            hyperdrive.initializationBlock >
+            currentBlock.blockNumber! - numBlocksForHistoricalRate;
+
+          // If we don't have enough blocks to go back 1 full historical period, then
+          // grab the all-time rate instead.
+          let ratePeriodDays =
+            appConfig.yieldSources[hyperdrive.yieldSource].historicalRatePeriod;
+          if (isPoolYoungerThanOneRatePeriod) {
+            ratePeriodDays = convertMillisecondsToDays(
+              Date.now() - Number(hyperdrive.initializationTimestamp * 1000n),
+            );
+          }
+
           return {
             lpApy,
+            ratePeriodDays,
             formatted: formatRate(lpApy),
           };
         }

diff --git a/apps/hyperdrive-trading/src/ui/markets/MarketStats/VariableRateStat.tsx b/apps/hyperdrive-trading/src/ui/markets/MarketStats/VariableRateStat.tsx
@@ -33,7 +33,7 @@ export function VariableRateStat({
 
   return (
     <Stat
-      label={`Variable APY (${yieldSource.historicalRatePeriod}d)`}
+      label={`Variable APY (${vaultRate?.ratePeriodDays}d)`}
       description={`The yield rate earned on deposits into ${yieldSource.shortName} in the last ${yieldSource.historicalRatePeriod} days.`}
       tooltipPosition="bottom"
       value={

diff --git a/apps/hyperdrive-trading/src/ui/markets/MarketStats/YieldStats.tsx b/apps/hyperdrive-trading/src/ui/markets/MarketStats/YieldStats.tsx
@@ -50,7 +50,7 @@ export function YieldStats({
           </Animated>
           <Animated isActive={position === "lp"}>
             <Stat
-              label={`LP APY (${yieldSource.historicalRatePeriod}d)`}
+              label={lpApy ? `LP APY (${lpApy.ratePeriodDays}d)` : "LP APY"}
               value={
                 <RewardsTooltip
                   chainId={hyperdrive.chainId}

diff --git a/apps/hyperdrive-trading/src/ui/markets/PoolRow/PoolRow.tsx b/apps/hyperdrive-trading/src/ui/markets/PoolRow/PoolRow.tsx
@@ -247,7 +247,7 @@ export function PoolRow({
             }
           />
           <PoolStat
-            label={`LP APY (${yieldSources[hyperdrive.yieldSource].historicalRatePeriod}d)`}
+            label={lpApy ? `LP APY (${lpApy.ratePeriodDays}d)` : "LP APY"}
             isLoading={lpApyStatus === "loading"}
             isNew={isLpApyNew}
             value={

diff --git a/apps/hyperdrive-trading/src/ui/vaults/useYieldSourceRate.ts b/apps/hyperdrive-trading/src/ui/vaults/useYieldSourceRate.ts
@@ -13,7 +13,9 @@ export function useYieldSourceRate({
   chainId: number;
   hyperdriveAddress: Address | undefined;
 }): {
-  vaultRate: { vaultRate: bigint; formatted: string } | undefined;
+  vaultRate:
+    | { vaultRate: bigint; formatted: string; ratePeriodDays: number }
+    | undefined;
   vaultRateStatus: "error" | "success" | "loading";
 } {
   const readHyperdrive = useReadHyperdrive({
@@ -22,22 +24,26 @@ export function useYieldSourceRate({
   });
   const appConfig = useAppConfig();
   const queryEnabled = !!hyperdriveAddress && !!readHyperdrive;
-  const { data: vaultRate, status: vaultRateStatus } = useQuery({
+  const { data, status: vaultRateStatus } = useQuery({
     enabled: queryEnabled,
     queryKey: makeQueryKey("vaultRate", {
       chainId,
       hyperdriveAddress,
     }),
     queryFn: queryEnabled
       ? async () => {
-          const rate = await getYieldSourceRate(readHyperdrive, appConfig);
+          const { rate, ratePeriodDays } = await getYieldSourceRate(
+            readHyperdrive,
+            appConfig,
+          );
           return {
             vaultRate: rate,
             formatted: formatRate(rate),
+            ratePeriodDays,
           };
         }
       : undefined,
   });
 
-  return { vaultRate, vaultRateStatus };
+  return { vaultRate: data, vaultRateStatus };
 }