test: add a test that new VM was added and can issue loans

packages/treasury/src/addType.js

@@ -10,7 +10,9 @@ import { AmountMath } from '@agoric/ertp';
 import { makeLiquidationStrategy } from './liquidateMinimum';
 import { makeVaultManager } from './vaultManager';
 import { makePoolParamManager } from './params';
-import { makeTracer } from './makeTracer';
+import { makeTracer } from './makeTracer.js';
+
+const { details: X } = assert;
 
 const trace = makeTracer('ST');
 
@@ -42,7 +44,7 @@ const makeMakeAddTypeInvitation = (
      *
      * @type {ReallocateReward}
      */
-    function reallocateReward(amount, fromSeat, otherSeat = undefined) {
+    const reallocateReward = (amount, fromSeat, otherSeat = undefined) => {
       rewardPoolSeat.incrementBy(
         fromSeat.decrementBy({
           RUN: amount,
@@ -53,10 +55,13 @@ const makeMakeAddTypeInvitation = (
       } else {
         zcf.reallocate(rewardPoolSeat, fromSeat);
       }
-    }
+    };
 
     const collateralBrand = zcf.getBrandForIssuer(collateralIssuer);
-    assert(!collateralTypes.has(collateralBrand));
+    assert(
+      !collateralTypes.has(collateralBrand),
+      X`Each type of collateral may only be added to Treasury once: ${collateralBrand}`,
+    );
 
     const poolParamManager = makePoolParamManager(loanParams, rates);
     poolParamManagers.init(collateralBrand, poolParamManager);
@@ -69,7 +74,7 @@ const makeMakeAddTypeInvitation = (
       { autoswap: autoswapAPI },
     );
 
-    async function addTypeHook(seat) {
+    const addTypeHook = async seat => {
       assertProposalShape(seat, {
         give: { Collateral: null },
         want: { Governance: null },
@@ -78,7 +83,11 @@ const makeMakeAddTypeInvitation = (
         give: { Collateral: collateralIn },
         want: { Governance: _govOut }, // ownership of the whole stablecoin machine
       } = seat.getProposal();
-      assert(!collateralTypes.has(collateralBrand));
+      assert(
+        !collateralTypes.has(collateralBrand),
+        X`Each type of collateral may only be added to Treasury once: ${collateralBrand}`,
+      );
+
       // initialPrice is in rates, but only used at creation, so not in governor
       const runAmount = ceilMultiplyBy(collateralIn, rates.initialPrice);
       // arbitrarily, give governance tokens equal to RUN tokens
@@ -163,21 +172,22 @@ const makeMakeAddTypeInvitation = (
       );
       collateralTypes.init(collateralBrand, vm);
       return vm;
-    }
+    };
 
     return zcf.makeInvitation(addTypeHook, 'AddCollateralType');
   };
 };
 
-const makeAddTypeNoAmm = (
+const makeMakeAddTypeNoAmm = (
   zcf,
   poolParamManagers,
   rewardPoolSeat,
-  issuers,
   autoswapAPI,
   collateralTypes,
   runKit,
 ) => {
+  // TODO(hibbert) check that there's a corresponding AMM pool
+
   // We process only one offer per collateralType. They must tell us the
   // dollar value of their collateral, and we create that many RUN.
   // collateralKeyword = 'aEth'
@@ -197,7 +207,7 @@ const makeAddTypeNoAmm = (
      *
      * @type {ReallocateReward}
      */
-    function reallocateReward(amount, fromSeat, otherSeat = undefined) {
+    const reallocateReward = (amount, fromSeat, otherSeat = undefined) => {
       rewardPoolSeat.incrementBy(
         fromSeat.decrementBy({
           RUN: amount,
@@ -208,10 +218,13 @@ const makeAddTypeNoAmm = (
       } else {
         zcf.reallocate(rewardPoolSeat, fromSeat);
       }
-    }
+    };
 
     const collateralBrand = zcf.getBrandForIssuer(collateralIssuer);
-    assert(!collateralTypes.has(collateralBrand));
+    assert(
+      !collateralTypes.has(collateralBrand),
+      X`Each type of collateral may only be added to Treasury once: ${collateralBrand}`,
+    );
 
     const poolParamManager = makePoolParamManager(loanParams, rates);
     poolParamManagers.init(collateralBrand, poolParamManager);
@@ -220,7 +233,7 @@ const makeAddTypeNoAmm = (
       zcf.getZoeService(),
     ).startInstance(
       liquidationInstall,
-      { RUN: issuers.run },
+      { RUN: runKit.issuer },
       { autoswap: autoswapAPI },
     );
 
@@ -238,12 +251,13 @@ const makeAddTypeNoAmm = (
       timerService,
       liquidationStrategy,
     );
+
     collateralTypes.init(collateralBrand, vm);
     return vm;
   };
 };
 
 harden(makeMakeAddTypeInvitation);
-harden(makeAddTypeNoAmm);
+harden(makeMakeAddTypeNoAmm);
 
-export { makeMakeAddTypeInvitation, makeAddTypeNoAmm };
+export { makeMakeAddTypeInvitation, makeMakeAddTypeNoAmm };

packages/treasury/src/stablecoinMachine.js

@@ -40,7 +40,7 @@ import {
   governedParameterTerms as governedParameterLocal,
   ParamKey,
 } from './params.js';
-import { makeAddTypeNoAmm, makeMakeAddTypeInvitation } from './addType';
+import { makeMakeAddTypeNoAmm, makeMakeAddTypeInvitation } from './addType';
 
 const { quote: q, details: X } = assert;
 
@@ -240,7 +240,7 @@ export async function start(zcf, privateArgs) {
   };
 
   const getParamState = paramDesc => {
-    switch (paramDesc.keyl) {
+    switch (paramDesc.key) {
       case ParamKey.FEE:
         return feeParams.getParam(paramDesc.parameterName);
       case ParamKey.POOL:
@@ -291,18 +291,28 @@ export async function start(zcf, privateArgs) {
       },
     });
 
+  const runKit = { brand: runBrand, mint: runMint, issuer: runIssuer };
   const makeAddTypeInvitation = makeMakeAddTypeInvitation(
     zcf,
     poolParamManagers,
     rewardPoolSeat,
     autoswapAPI,
     collateralTypes,
-    { brand: runBrand, mint: runMint, issuer: runIssuer },
+    runKit,
     { brand: govBrand, mint: govMint },
   );
+  const makeAddTypeNoAmm = makeMakeAddTypeNoAmm(
+    zcf,
+    poolParamManagers,
+    rewardPoolSeat,
+    autoswapAPI,
+    collateralTypes,
+    runKit,
+  );
 
   /** @type {StablecoinMachine} */
   const stablecoinMachine = Far('stablecoin machine', {
+    makeAddTypeNoAmm,
     makeAddTypeInvitation,
     getAMM() {
       return autoswapInstance;

packages/treasury/test/test-stablecoin.js

@@ -28,7 +28,7 @@ import { makeTracer } from '../src/makeTracer.js';
 import { SECONDS_PER_YEAR } from '../src/interest.js';
 import { VaultState } from '../src/vault.js';
 
-import { governedParameterTerms } from '../src/params.js';
+import { governedParameterTerms, ParamKey } from '../src/params.js';
 
 const stablecoinRoot = '../src/stablecoinMachine.js';
 const liquidationRoot = '../src/liquidateMinimum.js';
@@ -39,6 +39,7 @@ const committeeRoot = '@agoric/governance/src/committee.js';
 const voteCounterRoot = '@agoric/governance/src/binaryVoteCounter.js';
 
 const trace = makeTracer('TestST');
+const { quote: q } = assert;
 
 const BASIS_POINTS = 10000n;
 const PERCENT = 100n;
@@ -251,7 +252,6 @@ async function setupServices(
   const s = { stablecoinMachine, lender };
   const { runIssuerRecord, govIssuerRecord, autoswap: autoswapAPI } = testJig;
   const issuers = { run: runIssuerRecord, gov: govIssuerRecord };
-
   const quoteMint = makeIssuerKit('quote', AssetKind.SET).mint;
 
   // priceAuthority needs the RUN brand, which isn't available until the
@@ -1810,3 +1810,54 @@ test('close loan', async t => {
     {},
   );
 });
+
+test('stablecoin add collateral no new AMM pool', async t => {
+  const loanParams = {
+    chargingPeriod: 2n,
+    recordingPeriod: 6n,
+    poolFee: 24n,
+    protocolFee: 6n,
+  };
+  const {
+    aethKit: { brand: aethBrand, mint: aethMint, issuer: aethIssuer },
+  } = setupAssets();
+
+  const services = await setupServices(
+    loanParams,
+    [500n, 1500n],
+    AmountMath.make(90n, aethBrand),
+    aethBrand,
+    { committeeName: 'TheCabal', committeeSize: 5 },
+  );
+  const { brand: runBrand, issuer: runIssuer } = services.issuers.run;
+  const { stablecoinMachine, lender } = services.stablecoin;
+
+  const rates = harden({
+    initialMargin: makeRatio(120n, runBrand),
+    liquidationMargin: makeRatio(105n, runBrand),
+    interestRate: makeRatio(100n, runBrand, BASIS_POINTS),
+    loanFee: makeRatio(530n, runBrand, BASIS_POINTS),
+  });
+
+  await E(stablecoinMachine).makeAddTypeNoAmm(aethIssuer, 'Doubloon', rates);
+
+  const collateralAmount = AmountMath.make(aethBrand, 1500n);
+  const loanAmount = AmountMath.make(500n, runBrand);
+  const loanSeat = await E(services.zoe).offer(
+    E(lender).makeLoanInvitation(),
+    harden({
+      give: { Collateral: collateralAmount },
+      want: { RUN: loanAmount },
+    }),
+    harden({
+      Collateral: await E(aethMint).mintPayment(collateralAmount),
+    }),
+  );
+
+  const loanProceeds = await E.get(E(loanSeat).getPayouts()).RUN;
+
+  t.deepEqual(await E(runIssuer).getAmountOf(loanProceeds), loanAmount);
+  // The AMM pool hasn't been initialized, but now we have some RUN that we
+  // could use to add liquidity to the pool. The AMM is only needed for
+  // liquidation
+});