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fixup! Update to match latest spec: compute interest, LoanBroker reserves

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This commit is contained in:
Ed Hennis
2025-05-06 19:24:06 -04:00
parent ee8643f533
commit 7ff2f58a98
1 changed files with 17 additions and 27 deletions
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44
src/xrpld/app/tx/detail/LoanSet.cpp
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@@ -243,34 +243,24 @@ LoanSet::preclaim(PreclaimContext const& ctx)
return tecINSUFFICIENT_FUNDS;
}
// Check that the lender will not make a profit on the lending fee if the
// loan defaults. (Not yet in spec. May not be included.)
TenthBips32 const interestRate{tx[~sfInterestRate].value_or(0)};
auto const paymentInterval =
tx[~sfPaymentInterval].value_or(defaultPaymentInterval);
auto const paymentTotal = tx[~sfPaymentTotal].value_or(defaultPaymentTotal);
TenthBips32 const coverRateLiquidation{
brokerSle->at(sfCoverRateLiquidation)};
TenthBips32 const managementFeeRate{brokerSle->at(sfManagementFeeRate)};
auto const totalInterestToVault = LoanInterestOutstandingToVault(
asset,
principalRequested,
interestRate,
paymentInterval,
paymentTotal,
managementFeeRate);
auto const maximumOriginationFee = tenthBipsOfValue(
tenthBipsOfValue(newDebtTotal, coverRateMinimum), coverRateLiquidation);
if (auto const originationFee = tx[~sfLoanOriginationFee];
originationFee && *originationFee > maximumOriginationFee)
if (auto const originationFee = tx[~sfLoanOriginationFee])
{
JLOG(ctx.j.warn())
<< "Loan origination fee is too high. The lender will make a "
"profit on the lending fee if the loan defaults.";
return tecINSUFFICIENT_FUNDS;
// Check that the lender will not make an unfair profit on the lending
// fee if the loan defaults. (Not yet in spec. May not be included.)
TenthBips32 const coverRateLiquidation{
brokerSle->at(sfCoverRateLiquidation)};
auto const maximumOriginationFee = tenthBipsOfValue(
tenthBipsOfValue(newDebtTotal, coverRateMinimum),
coverRateLiquidation);
if (*originationFee > maximumOriginationFee)
{
JLOG(ctx.j.warn())
<< "Loan origination fee is too high. The lender will make a "
"profit on the lending fee if the loan defaults.";
return tecINSUFFICIENT_FUNDS;
}
}
return tesSUCCESS;