💬 Quoter contract

Contract for getting estimates or quotes for trades or LP operations, as well as to check for unhealthy positions that are ready to be liquidated.

getContractProvider

function getContractProvider() external view returns (IContractProvider);

Returns ContractProvider contract

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quoteTrade

function quoteTrade(
    FutureId futureId,
    UD60x18 notional,
    address participant,
    OraclePackage[] calldata oraclePackages
) external view returns (TradeQuote memory);

Provides estimations for a trade with notional amount in a particular future. The quote is returned for both risk directions simultaneously.

Input parameters:

Parameter Name	Type	Description
futureId	FutureId	Target Future identifier.
notional	uint256	Notional amount of the assumed trade.
participant	address	The address whose state will be used to calculate the quote for.
oraclePackages	OraclePackage[]	An array of packages containing the latest known index for the market. Packages are provided by an Oracle service on demand.

Output values:

• TradeQuote Object containing the trade details

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quoteLiquidityProvision

function quoteLiquidityProvision(
    FutureId futureId,
    UD60x18 notional,
    address participant,
    LiquidityOperation operation,
    SD59x18 lowerBound,
    SD59x18 upperBound,
    OraclePackage[] calldata oraclePackages
) external view returns (LiquidityProvisionQuote memory);

Provides estimations for liquidity provision in specified Futures market and bounds.

Input parameters:

Parameter Name	Type	Description
futureId	FutureId	Future identifier.
notional	uint256	The face value of the future trade.
participant	address	The address to calculate the quote for.
operation	LiquidityOperation	Either Provide or Remove
lowerBound	int256	Defines the lower point of the rate range. Format: fixed point signed 18-decimal number.
upperBound	int256	Defines the upper point of the rate range. Format: fixed point signed 18-decimal number.
oraclePackages	OraclePackage[]	An array of packages containing the latest known index for the market. Packages are provided by an Oracle service on demand.

Output values:

• LiquidityProvisionQuote

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quotePositionsOwnershipTransfer

function quotePositionsOwnershipTransfer(
    MarketId marketId,
    address owner,
    address liquidator,
    OraclePackage[] memory oraclePackages
) external view returns (UD60x18 transferAmount, UD60x18 depositAmount);

Provides estimations for positions ownership transfer operation being carried out for owner in specified Market.

Ensure that owner's positions are liquidatable by calling Quoter.isLiquidatable using owner as a participant.

Input parameters:

Parameter Name	Type	Description
marketId	MarketId	Target Market identifier.
owner	address	Target owner of positions.
liquidator	address	Receiver of positions from the owner
oraclePackages	OraclePackage[]	An array of packages containing the latest known index for the market. Packages are provided by an Oracle service on demand.

Output values:

• uint256 transferAmount — amount of collateral to be transferred from owner's margin account to liquidator as a reward;

• uint256 depositAmount — additional amount of collateral that is required to deposit to liquidator's margin account.

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isLiquidatable

function isLiquidatable(
    MarketId marketId,
    address participant,
    OraclePackage[] memory oraclePackages
) external view returns (bool);

Returns true if participant's margin for marketId is below Liquidation Threshold and his positions can be liquidated or transferred.

Input parameters:

Parameter Name	Type	Description
marketId	MarketId	Target Market identifier.
participant	address	The address to check
oraclePackages	OraclePackage[]	An array of packages containing the latest known index for the market. Packages are provided by an Oracle service on demand.

Output values:

• bool true if participant can be liquidated.

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isProvisionCancellable

function isProvisionCancellable(
    MarketId marketId,
    address maker,
    OraclePackage[] memory oraclePackages
) external view returns (bool);

Returns true if maker's positions in a given marketId should be cancelled due to his margin being below Initial Margin Requirement.

Input parameters:

Parameter Name	Type	Description
marketId	MarketId	Target Market identifier.
maker	address	The address to check
oraclePackages	OraclePackage[]	An array of packages containing the latest known index for the market. Packages are provided by an Oracle service on demand.

Output values:

• bool true if maker is below his margin requirement

Structs

Documentation of structs mentioned in this page

TradeQuote

Struct with quote data for a trade

struct TradeQuote {
    bool insufficientLiquidityForPayer;
    bool exceededRateImpactLimitForPayer;
    bool insufficientLiquidityForReceiver;
    bool exceededRateImpactLimitForReceiver;
    OneDirectionTradeQuote payerQuote;
    OneDirectionTradeQuote receiverQuote;
    IViewDataProvider.MarketPortfolio marketPortfolio;
}

Property name	Property Type	Description
insufficientLiquidityForPayer	bool	True if there is not enough provided liquidity to place a trade with the Payer risk direction
exceededRateImpactLimitForPayer	bool	True if the market rate shift exceeds the limiting value for given trade with the Payer risk direction
insufficientLiquidityForReceiver	bool	True if there is not enough provided liquidity to place a trade with the Receiver risk direction
exceededRateImpactLimitForReceiver	bool	True if the market rate shift exceeds the limiting value for given trade with the Receiver risk direction
payerQuote	OneDirectionTradeQuote	Quote details for a trade with Payer direction
receiverQuote	OneDirectionTradeQuote	Quote details for a trade with Receiver direction
marketPortfolio	IViewDataProvider.MarketPortfolio	Contains portfolio details os user

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OneDirectionTradeQuote

Details on a trade quote on a particular direction (payer or receiver)

struct OneDirectionTradeQuote {
  TradeInfo tradeInfo;
  UD60x18 totalFutureOpenPositionNotional;
  UD60x18 totalFutureOpenPositionDv01;
  Margin.Value newMargin;
  UD60x18 newMarginThreshold;
  UD60x18 tradeNotionalDv01;
}

• TradeInfo struct containing trade details

• totalFutureOpenPositionNotional Total notional available for trades in this direction

• totalFutureOpenPositionDv01 Dollar duration for total notional available in this direction

• newMargin Details on user's margin state after this trade

• newMarginThreshold Updated user's margin threshold

• tradeNotionalDv01 Dollar duration for the trade's notional

Property name	Property Type	Description
tradeInfo	TradeInfo	Trade details
totalFutureOpenPositionNotional	uint256	Total notional available for trades in this direction
totalFutureOpenPositionDv01	uint256	Dollar duration for total notional available in this direction
newMargin	Margin.Value	Details on user's margin after this trade
newMarginThreshold	uint256	Updated user's margin threshold
tradeNotionalDv01	uint256	Dolar duration for the trade's notional

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LiquidityProvisionQuote

Details on a quote for a liquidity provision.

struct LiquidityProvisionQuote {
    ProvisionDistribution totalFutureProvisionNotional;
    UD60x18 totalFutureProvisionPayerDv01;
    UD60x18 totalFutureProvisionReceiverDv01;
    UD60x18 newMarginThreshold;
    ProvisionDistribution newProvisionDistribution;
    UD60x18 newProvisionNotionalDv01;
    IViewDataProvider.MarketPortfolio marketPortfolio;
}

Property name	Property Type	Description
totalFutureProvisionNotional	ProvisionDistribution	Resulting total of provided notional
totalFutureProvisionPayerDv01	uint256	Resulting DV01 towards the Payer side for the participant after provision
totalFutureProvisionReceiverDv01	uint256	Resulting DV01 towards the Receiver side for the participant after provision
newMarginThreshold	uint256	Resulting margin requirements
newProvisionDistribution	ProvisionDistribution	Resulting amounts of provision on Payer & Receiver sides as well as total
newProvisionNotionalDv01	uint256	Resulting overall DV01
marketPortfolio	IViewDataProvider.MarketPortfolio	Contains portfolio details of user

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Enums

LiquidityOperation

enum LiquidityOperation {
  PROVIDE,
  REMOVE
}

Defines the 2 options of maker operations: provide and remove liquidity