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Make liquidity great again (#1020)

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* add subsidy

* drizzle liquidity

* update liquidity panel

* remove addliquidity

* update cloud functions index

* remove json endpoints

* imports

* drizzle liquidity: add velocity; dev script; run every minute

* adjust speed

* logging

* liquidity button, dialog

* modal size

* modal

* info table

* pay back excess liquidity

* remove client withdrawal

* house liquidity subsidy

* disable liquidity button if market resolved or closed

* format tip amount
This commit is contained in:
mantikoros 2022-10-10 21:56:16 -05:00 committed by GitHub
parent 8bb9885aee
commit 0ec15ff2f8
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24 changed files with 421 additions and 519 deletions
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16
common/add-liquidity.ts
View File

@ -1,4 +1,4 @@
import { addCpmmLiquidity, getCpmmLiquidity } from './calculate-cpmm'
import { getCpmmLiquidity } from './calculate-cpmm'
import { CPMMContract } from './contract'
import { LiquidityProvision } from './liquidity-provision'
@ -8,25 +8,23 @@ export const getNewLiquidityProvision = (
contract: CPMMContract,
newLiquidityProvisionId: string
) => {
const { pool, p, totalLiquidity } = contract
const { pool, p, totalLiquidity, subsidyPool } = contract
const { newPool, newP } = addCpmmLiquidity(pool, p, amount)
const liquidity =
getCpmmLiquidity(newPool, newP) - getCpmmLiquidity(pool, newP)
const liquidity = getCpmmLiquidity(pool, p)
const newLiquidityProvision: LiquidityProvision = {
id: newLiquidityProvisionId,
userId: userId,
contractId: contract.id,
amount,
pool: newPool,
p: newP,
pool,
p,
liquidity,
createdTime: Date.now(),
}
const newTotalLiquidity = (totalLiquidity ?? 0) + amount
const newSubsidyPool = (subsidyPool ?? 0) + amount
return { newLiquidityProvision, newPool, newP, newTotalLiquidity }
return { newLiquidityProvision, newTotalLiquidity, newSubsidyPool }
}

45
common/calculate-cpmm.ts
View File

@ -1,11 +1,10 @@
import { sum, groupBy, mapValues, sumBy } from 'lodash'
import { groupBy, mapValues, sumBy } from 'lodash'
import { LimitBet } from './bet'
import { CREATOR_FEE, Fees, LIQUIDITY_FEE, PLATFORM_FEE } from './fees'
import { LiquidityProvision } from './liquidity-provision'
import { computeFills } from './new-bet'
import { binarySearch } from './util/algos'
import { addObjects } from './util/object'
export type CpmmState = {
pool: { [outcome: string]: number }
@ -267,48 +266,22 @@ export function addCpmmLiquidity(
return { newPool, liquidity, newP }
}
const calculateLiquidityDelta = (p: number) => (l: LiquidityProvision) => {
const oldLiquidity = getCpmmLiquidity(l.pool, p)
export function getCpmmLiquidityPoolWeights(liquidities: LiquidityProvision[]) {
const userAmounts = groupBy(liquidities, (w) => w.userId)
const totalAmount = sumBy(liquidities, (w) => w.amount)
const newPool = addObjects(l.pool, { YES: l.amount, NO: l.amount })
const newLiquidity = getCpmmLiquidity(newPool, p)
const liquidity = newLiquidity - oldLiquidity
return liquidity
}
export function getCpmmLiquidityPoolWeights(
state: CpmmState,
liquidities: LiquidityProvision[],
excludeAntes: boolean
) {
const calcLiqudity = calculateLiquidityDelta(state.p)
const liquidityShares = liquidities.map(calcLiqudity)
const shareSum = sum(liquidityShares)
const weights = liquidityShares.map((shares, i) => ({
weight: shares / shareSum,
providerId: liquidities[i].userId,
}))
const includedWeights = excludeAntes
? weights.filter((_, i) => !liquidities[i].isAnte)
: weights
const userWeights = groupBy(includedWeights, (w) => w.providerId)
const totalUserWeights = mapValues(userWeights, (userWeight) =>
sumBy(userWeight, (w) => w.weight)
return mapValues(
userAmounts,
(amounts) => sumBy(amounts, (w) => w.amount) / totalAmount
)
return totalUserWeights
}
export function getUserLiquidityShares(
userId: string,
state: CpmmState,
liquidities: LiquidityProvision[],
excludeAntes: boolean
liquidities: LiquidityProvision[]
) {
const weights = getCpmmLiquidityPoolWeights(state, liquidities, excludeAntes)
const weights = getCpmmLiquidityPoolWeights(liquidities)
const userWeight = weights[userId] ?? 0
return mapValues(state.pool, (shares) => userWeight * shares)

3
common/contract.ts
View File

@ -91,7 +91,8 @@ export type CPMM = {
mechanism: 'cpmm-1'
pool: { [outcome: string]: number }
p: number // probability constant in y^p * n^(1-p) = k
totalLiquidity: number // in M$
totalLiquidity: number // for historical reasons, this the total subsidy amount added in M$
subsidyPool: number // current value of subsidy pool in M$
prob: number
probChanges: {
day: number

2
common/economy.ts
View File

@ -16,3 +16,5 @@ export const BETTING_STREAK_BONUS_MAX = econ?.BETTING_STREAK_BONUS_MAX ?? 25
export const BETTING_STREAK_RESET_HOUR = econ?.BETTING_STREAK_RESET_HOUR ?? 7
export const FREE_MARKETS_PER_USER_MAX = econ?.FREE_MARKETS_PER_USER_MAX ?? 5
export const COMMENT_BOUNTY_AMOUNT = econ?.COMMENT_BOUNTY_AMOUNT ?? 250
export const UNIQUE_BETTOR_LIQUIDITY = 20

1
common/new-contract.ts
View File

@ -112,6 +112,7 @@ const getBinaryCpmmProps = (initialProb: number, ante: number) => {
mechanism: 'cpmm-1',
outcomeType: 'BINARY',
totalLiquidity: ante,
subsidyPool: 0,
initialProbability: p,
p,
pool: pool,

13
common/payouts-fixed.ts
View File

@ -1,4 +1,3 @@
import { Bet } from './bet'
import { getProbability } from './calculate'
import { getCpmmLiquidityPoolWeights } from './calculate-cpmm'
@ -56,10 +55,10 @@ export const getLiquidityPoolPayouts = (
outcome: string,
liquidities: LiquidityProvision[]
) => {
const { pool } = contract
const finalPool = pool[outcome]
const { pool, subsidyPool } = contract
const finalPool = pool[outcome] + subsidyPool
const weights = getCpmmLiquidityPoolWeights(contract, liquidities, false)
const weights = getCpmmLiquidityPoolWeights(liquidities)
return Object.entries(weights).map(([providerId, weight]) => ({
userId: providerId,
@ -95,10 +94,10 @@ export const getLiquidityPoolProbPayouts = (
p: number,
liquidities: LiquidityProvision[]
) => {
const { pool } = contract
const finalPool = p * pool.YES + (1 - p) * pool.NO
const { pool, subsidyPool } = contract
const finalPool = p * pool.YES + (1 - p) * pool.NO + subsidyPool
const weights = getCpmmLiquidityPoolWeights(contract, liquidities, false)
const weights = getCpmmLiquidityPoolWeights(liquidities)
return Object.entries(weights).map(([providerId, weight]) => ({
userId: providerId,

10
common/util/format.ts
View File

@ -60,6 +60,16 @@ export function formatLargeNumber(num: number, sigfigs = 2): string {
return `${numStr}${suffix[i] ?? ''}`
}
export function shortFormatNumber(num: number): string {
if (num < 1000) return showPrecision(num, 3)
const suffix = ['', 'K', 'M', 'B', 'T', 'Q']
const i = Math.floor(Math.log10(num) / 3)
const numStr = showPrecision(num / Math.pow(10, 3 * i), 2)
return `${numStr}${suffix[i] ?? ''}`
}
export function toCamelCase(words: string) {
const camelCase = words
.split(' ')

67
functions/src/add-liquidity.ts → functions/src/add-subsidy.ts
View File

@ -3,24 +3,18 @@ import { z } from 'zod'
import { Contract, CPMMContract } from '../../common/contract'
import { User } from '../../common/user'
import { removeUndefinedProps } from '../../common/util/object'
import { getNewLiquidityProvision } from '../../common/add-liquidity'
import { APIError, newEndpoint, validate } from './api'
import {
DEV_HOUSE_LIQUIDITY_PROVIDER_ID,
HOUSE_LIQUIDITY_PROVIDER_ID,
} from '../../common/antes'
import { isProd } from './utils'
const bodySchema = z.object({
contractId: z.string(),
amount: z.number().gt(0),
})
export const addliquidity = newEndpoint({}, async (req, auth) => {
export const addsubsidy = newEndpoint({}, async (req, auth) => {
const { amount, contractId } = validate(bodySchema, req.body)
if (!isFinite(amount)) throw new APIError(400, 'Invalid amount')
if (!isFinite(amount) || amount < 1) throw new APIError(400, 'Invalid amount')
// run as transaction to prevent race conditions
return await firestore.runTransaction(async (transaction) => {
@ -50,7 +44,7 @@ export const addliquidity = newEndpoint({}, async (req, auth) => {
.collection(`contracts/${contractId}/liquidity`)
.doc()
const { newLiquidityProvision, newPool, newP, newTotalLiquidity } =
const { newLiquidityProvision, newTotalLiquidity, newSubsidyPool } =
getNewLiquidityProvision(
user.id,
amount,
@ -58,21 +52,10 @@ export const addliquidity = newEndpoint({}, async (req, auth) => {
newLiquidityProvisionDoc.id
)
if (newP !== undefined && !isFinite(newP)) {
return {
status: 'error',
message: 'Liquidity injection rejected due to overflow error.',
}
}
transaction.update(
contractDoc,
removeUndefinedProps({
pool: newPool,
p: newP,
transaction.update(contractDoc, {
subsidyPool: newSubsidyPool,
totalLiquidity: newTotalLiquidity,
})
)
} as Partial<CPMMContract>)
const newBalance = user.balance - amount
const newTotalDeposits = user.totalDeposits - amount
@ -93,41 +76,3 @@ export const addliquidity = newEndpoint({}, async (req, auth) => {
})
const firestore = admin.firestore()
export const addHouseLiquidity = (contract: CPMMContract, amount: number) => {
return firestore.runTransaction(async (transaction) => {
const newLiquidityProvisionDoc = firestore
.collection(`contracts/${contract.id}/liquidity`)
.doc()
const providerId = isProd()
? HOUSE_LIQUIDITY_PROVIDER_ID
: DEV_HOUSE_LIQUIDITY_PROVIDER_ID
const { newLiquidityProvision, newPool, newP, newTotalLiquidity } =
getNewLiquidityProvision(
providerId,
amount,
contract,
newLiquidityProvisionDoc.id
)
if (newP !== undefined && !isFinite(newP)) {
throw new APIError(
500,
'Liquidity injection rejected due to overflow error.'
)
}
transaction.update(
firestore.doc(`contracts/${contract.id}`),
removeUndefinedProps({
pool: newPool,
p: newP,
totalLiquidity: newTotalLiquidity,
})
)
transaction.create(newLiquidityProvisionDoc, newLiquidityProvision)
})
}

69
functions/src/drizzle-liquidity.ts Normal file
View File

@ -0,0 +1,69 @@
import * as functions from 'firebase-functions'
import * as admin from 'firebase-admin'
import { CPMMContract } from '../../common/contract'
import { batchedWaitAll } from '../../common/util/promise'
import { APIError } from '../../common/api'
import { addCpmmLiquidity } from '../../common/calculate-cpmm'
import { formatMoneyWithDecimals } from '../../common/util/format'
const firestore = admin.firestore()
export const drizzleLiquidity = async () => {
const snap = await firestore
.collection('contracts')
.where('subsidyPool', '>', 1e-7)
.get()
const contractIds = snap.docs.map((doc) => doc.id)
console.log('found', contractIds.length, 'markets to drizzle')
console.log()
await batchedWaitAll(
contractIds.map((cid) => () => drizzleMarket(cid)),
10
)
}
export const drizzleLiquidityScheduler = functions.pubsub
.schedule('* * * * *') // every minute
.onRun(drizzleLiquidity)
const drizzleMarket = async (contractId: string) => {
await firestore.runTransaction(async (trans) => {
const snap = await trans.get(firestore.doc(`contracts/${contractId}`))
const contract = snap.data() as CPMMContract
const { subsidyPool, pool, p, slug, popularityScore } = contract
if ((subsidyPool ?? 0) < 1e-7) return
const r = Math.random()
const logPopularity = Math.log10((popularityScore ?? 0) + 1)
const v = Math.max(1, Math.min(5, logPopularity))
const amount = subsidyPool <= 0.5 ? subsidyPool : r * v * 0.01 * subsidyPool
const { newPool, newP } = addCpmmLiquidity(pool, p, amount)
if (!isFinite(newP)) {
throw new APIError(
500,
'Liquidity injection rejected due to overflow error.'
)
}
await trans.update(firestore.doc(`contracts/${contract.id}`), {
pool: newPool,
p: newP,
subsidyPool: subsidyPool - amount,
})
console.log(
'added subsidy',
formatMoneyWithDecimals(amount),
'of',
formatMoneyWithDecimals(subsidyPool),
'pool to',
slug
)
console.log()
})
}

42
functions/src/helpers/add-house-subsidy.ts Normal file
View File

@ -0,0 +1,42 @@
import * as admin from 'firebase-admin'
import { CPMMContract } from '../../../common/contract'
import { isProd } from '../utils'
import {
DEV_HOUSE_LIQUIDITY_PROVIDER_ID,
HOUSE_LIQUIDITY_PROVIDER_ID,
} from '../../../common/antes'
import { getNewLiquidityProvision } from '../../../common/add-liquidity'
const firestore = admin.firestore()
export const addHouseSubsidy = (contractId: string, amount: number) => {
return firestore.runTransaction(async (transaction) => {
const newLiquidityProvisionDoc = firestore
.collection(`contracts/${contractId}/liquidity`)
.doc()
const providerId = isProd()
? HOUSE_LIQUIDITY_PROVIDER_ID
: DEV_HOUSE_LIQUIDITY_PROVIDER_ID
const contractDoc = firestore.doc(`contracts/${contractId}`)
const snap = await contractDoc.get()
const contract = snap.data() as CPMMContract
const { newLiquidityProvision, newTotalLiquidity, newSubsidyPool } =
getNewLiquidityProvision(
providerId,
amount,
contract,
newLiquidityProvisionDoc.id
)
transaction.update(contractDoc, {
subsidyPool: newSubsidyPool,
totalLiquidity: newTotalLiquidity,
} as Partial<CPMMContract>)
transaction.create(newLiquidityProvisionDoc, newLiquidityProvision)
})
}

13
functions/src/index.ts
View File

@ -31,6 +31,7 @@ export * from './reset-weekly-emails-flags'
export * from './on-update-contract-follow'
export * from './on-update-like'
export * from './weekly-portfolio-emails'
export * from './drizzle-liquidity'
// v2
export * from './health'
@ -44,8 +45,6 @@ export * from './sell-bet'
export * from './sell-shares'
export * from './claim-manalink'
export * from './create-market'
export * from './add-liquidity'
export * from './withdraw-liquidity'
export * from './create-group'
export * from './resolve-market'
export * from './unsubscribe'
@ -53,6 +52,7 @@ export * from './stripe'
export * from './mana-bonus-email'
export * from './close-market'
export * from './update-comment-bounty'
export * from './add-subsidy'
import { health } from './health'
import { transact } from './transact'
@ -65,9 +65,7 @@ import { sellbet } from './sell-bet'
import { sellshares } from './sell-shares'
import { claimmanalink } from './claim-manalink'
import { createmarket } from './create-market'
import { addliquidity } from './add-liquidity'
import { addcommentbounty, awardcommentbounty } from './update-comment-bounty'
import { withdrawliquidity } from './withdraw-liquidity'
import { creategroup } from './create-group'
import { resolvemarket } from './resolve-market'
import { closemarket } from './close-market'
@ -78,6 +76,7 @@ import { acceptchallenge } from './accept-challenge'
import { createpost } from './create-post'
import { savetwitchcredentials } from './save-twitch-credentials'
import { updatemetrics } from './update-metrics'
import { addsubsidy } from './add-subsidy'
const toCloudFunction = ({ opts, handler }: EndpointDefinition) => {
return onRequest(opts, handler as any)
@ -93,10 +92,9 @@ const sellBetFunction = toCloudFunction(sellbet)
const sellSharesFunction = toCloudFunction(sellshares)
const claimManalinkFunction = toCloudFunction(claimmanalink)
const createMarketFunction = toCloudFunction(createmarket)
const addLiquidityFunction = toCloudFunction(addliquidity)
const addSubsidyFunction = toCloudFunction(addsubsidy)
const addCommentBounty = toCloudFunction(addcommentbounty)
const awardCommentBounty = toCloudFunction(awardcommentbounty)
const withdrawLiquidityFunction = toCloudFunction(withdrawliquidity)
const createGroupFunction = toCloudFunction(creategroup)
const resolveMarketFunction = toCloudFunction(resolvemarket)
const closeMarketFunction = toCloudFunction(closemarket)
@ -121,8 +119,7 @@ export {
sellSharesFunction as sellshares,
claimManalinkFunction as claimmanalink,
createMarketFunction as createmarket,
addLiquidityFunction as addliquidity,
withdrawLiquidityFunction as withdrawliquidity,
addSubsidyFunction as addsubsidy,
createGroupFunction as creategroup,
resolveMarketFunction as resolvemarket,
closeMarketFunction as closemarket,

15
functions/src/on-create-bet.ts
View File

@ -25,6 +25,7 @@ import {
BETTING_STREAK_BONUS_MAX,
BETTING_STREAK_RESET_HOUR,
UNIQUE_BETTOR_BONUS_AMOUNT,
UNIQUE_BETTOR_LIQUIDITY,
} from '../../common/economy'
import {
DEV_HOUSE_LIQUIDITY_PROVIDER_ID,
@ -34,6 +35,7 @@ import { APIError } from '../../common/api'
import { User } from '../../common/user'
import { DAY_MS } from '../../common/util/time'
import { BettingStreakBonusTxn, UniqueBettorBonusTxn } from '../../common/txn'
import { addHouseSubsidy } from './helpers/add-house-subsidy'
import {
StreakerBadge,
streakerBadgeRarityThresholds,
@ -108,7 +110,7 @@ const updateBettingStreak = async (
const newBettingStreak = (bettor?.currentBettingStreak ?? 0) + 1
// Otherwise, add 1 to their betting streak
await trans.update(userDoc, {
trans.update(userDoc, {
currentBettingStreak: newBettingStreak,
lastBetTime: bet.createdTime,
})
@ -198,7 +200,7 @@ const updateUniqueBettorsAndGiveCreatorBonus = async (
log(`Got ${previousUniqueBettorIds} unique bettors`)
isNewUniqueBettor && log(`And a new unique bettor ${bettor.id}`)
await trans.update(contractDoc, {
trans.update(contractDoc, {
uniqueBettorIds: newUniqueBettorIds,
uniqueBettorCount: newUniqueBettorIds.length,
})
@ -211,8 +213,13 @@ const updateUniqueBettorsAndGiveCreatorBonus = async (
return { newUniqueBettorIds }
}
)
if (!newUniqueBettorIds) return
if (oldContract.mechanism === 'cpmm-1') {
await addHouseSubsidy(oldContract.id, UNIQUE_BETTOR_LIQUIDITY)
}
const bonusTxnDetails = {
contractId: oldContract.id,
uniqueNewBettorId: bettor.id,
@ -222,7 +229,9 @@ const updateUniqueBettorsAndGiveCreatorBonus = async (
: DEV_HOUSE_LIQUIDITY_PROVIDER_ID
const fromSnap = await firestore.doc(`users/${fromUserId}`).get()
if (!fromSnap.exists) throw new APIError(400, 'From user not found.')
const fromUser = fromSnap.data() as User
const result = await firestore.runTransaction(async (trans) => {
const bonusTxn: TxnData = {
fromId: fromUser.id,
@ -235,7 +244,9 @@ const updateUniqueBettorsAndGiveCreatorBonus = async (
description: JSON.stringify(bonusTxnDetails),
data: bonusTxnDetails,
} as Omit<UniqueBettorBonusTxn, 'id' | 'createdTime'>
const { status, message, txn } = await runTxn(trans, bonusTxn)
return { status, newUniqueBettorIds, message, txn }
})

11
functions/src/resolve-market.ts
View File

@ -9,7 +9,15 @@ import {
RESOLUTIONS,
} from '../../common/contract'
import { Bet } from '../../common/bet'
import { getContractPath, getUser, getValues, isProd, log, payUser, revalidateStaticProps } from './utils'
import {
getContractPath,
getUser,
getValues,
isProd,
log,
payUser,
revalidateStaticProps,
} from './utils'
import {
getLoanPayouts,
getPayouts,
@ -145,6 +153,7 @@ export const resolvemarket = newEndpoint(opts, async (req, auth) => {
resolutions,
collectedFees,
}),
subsidyPool: 0,
}
await contractDoc.update(updatedContract)

8
functions/src/scripts/drizzle.ts Normal file
View File

@ -0,0 +1,8 @@
import { initAdmin } from './script-init'
initAdmin()
import { drizzleLiquidity } from '../drizzle-liquidity'
if (require.main === module) {
drizzleLiquidity().then(() => process.exit())
}

4
functions/src/serve.ts
View File

@ -19,8 +19,6 @@ import { sellbet } from './sell-bet'
import { sellshares } from './sell-shares'
import { claimmanalink } from './claim-manalink'
import { createmarket } from './create-market'
import { addliquidity } from './add-liquidity'
import { withdrawliquidity } from './withdraw-liquidity'
import { creategroup } from './create-group'
import { resolvemarket } from './resolve-market'
import { unsubscribe } from './unsubscribe'
@ -61,10 +59,8 @@ addJsonEndpointRoute('/sellbet', sellbet)
addJsonEndpointRoute('/sellshares', sellshares)
addJsonEndpointRoute('/claimmanalink', claimmanalink)
addJsonEndpointRoute('/createmarket', createmarket)
addJsonEndpointRoute('/addliquidity', addliquidity)
addJsonEndpointRoute('/addCommentBounty', addcommentbounty)
addJsonEndpointRoute('/awardCommentBounty', awardcommentbounty)
addJsonEndpointRoute('/withdrawliquidity', withdrawliquidity)
addJsonEndpointRoute('/creategroup', creategroup)
addJsonEndpointRoute('/resolvemarket', resolvemarket)
addJsonEndpointRoute('/unsubscribe', unsubscribe)

121
functions/src/withdraw-liquidity.ts
View File

@ -1,121 +0,0 @@
import * as admin from 'firebase-admin'
import { z } from 'zod'
import { CPMMContract } from '../../common/contract'
import { User } from '../../common/user'
import { subtractObjects } from '../../common/util/object'
import { LiquidityProvision } from '../../common/liquidity-provision'
import { getUserLiquidityShares } from '../../common/calculate-cpmm'
import { Bet } from '../../common/bet'
import { getProbability } from '../../common/calculate'
import { noFees } from '../../common/fees'
import { APIError, newEndpoint, validate } from './api'
import { redeemShares } from './redeem-shares'
const bodySchema = z.object({
contractId: z.string(),
})
export const withdrawliquidity = newEndpoint({}, async (req, auth) => {
const { contractId } = validate(bodySchema, req.body)
return await firestore
.runTransaction(async (trans) => {
const lpDoc = firestore.doc(`users/${auth.uid}`)
const lpSnap = await trans.get(lpDoc)
if (!lpSnap.exists) throw new APIError(400, 'User not found.')
const lp = lpSnap.data() as User
const contractDoc = firestore.doc(`contracts/${contractId}`)
const contractSnap = await trans.get(contractDoc)
if (!contractSnap.exists) throw new APIError(400, 'Contract not found.')
const contract = contractSnap.data() as CPMMContract
const liquidityCollection = firestore.collection(
`contracts/${contractId}/liquidity`
)
const liquiditiesSnap = await trans.get(liquidityCollection)
const liquidities = liquiditiesSnap.docs.map(
(doc) => doc.data() as LiquidityProvision
)
const userShares = getUserLiquidityShares(
auth.uid,
contract,
liquidities,
true
)
// zero all added amounts for now
// can add support for partial withdrawals in the future
liquiditiesSnap.docs
.filter(
(_, i) => !liquidities[i].isAnte && liquidities[i].userId === auth.uid
)
.forEach((doc) => trans.update(doc.ref, { amount: 0 }))
const payout = Math.min(...Object.values(userShares))
if (payout <= 0) return {}
const newBalance = lp.balance + payout
const newTotalDeposits = lp.totalDeposits + payout
trans.update(lpDoc, {
balance: newBalance,
totalDeposits: newTotalDeposits,
} as Partial<User>)
const newPool = subtractObjects(contract.pool, userShares)
const minPoolShares = Math.min(...Object.values(newPool))
const adjustedTotal = contract.totalLiquidity - payout
// total liquidity is a bogus number; use minPoolShares to prevent from going negative
const newTotalLiquidity = Math.max(adjustedTotal, minPoolShares)
trans.update(contractDoc, {
pool: newPool,
totalLiquidity: newTotalLiquidity,
})
const prob = getProbability(contract)
// surplus shares become user's bets
const bets = Object.entries(userShares)
.map(([outcome, shares]) =>
shares - payout < 1 // don't create bet if less than 1 share
? undefined
: ({
userId: auth.uid,
contractId: contract.id,
amount:
(outcome === 'YES' ? prob : 1 - prob) * (shares - payout),
shares: shares - payout,
outcome,
probBefore: prob,
probAfter: prob,
createdTime: Date.now(),
isLiquidityProvision: true,
fees: noFees,
} as Omit<Bet, 'id'>)
)
.filter((x) => x !== undefined)
for (const bet of bets) {
const doc = firestore.collection(`contracts/${contract.id}/bets`).doc()
trans.create(doc, { id: doc.id, ...bet })
}
return userShares
})
.then(async (result) => {
// redeem surplus bet with pre-existing bets
await redeemShares(auth.uid, contractId)
console.log('userid', auth.uid, 'withdraws', result)
return result
})
})
const firestore = admin.firestore()

22
web/components/contract/contract-info-dialog.tsx
View File

@ -7,7 +7,6 @@ import { capitalize } from 'lodash'
import { Contract } from 'common/contract'
import { formatMoney, formatPercent } from 'common/util/format'
import { contractPool, updateContract } from 'web/lib/firebase/contracts'
import { LiquidityBountyPanel } from 'web/components/contract/liquidity-bounty-panel'
import { Col } from '../layout/col'
import { Modal } from '../layout/modal'
import { Title } from '../title'
@ -55,6 +54,7 @@ export function ContractInfoDialog(props: {
outcomeType,
id,
elasticity,
pool,
} = contract
const typeDisplay =
@ -172,10 +172,25 @@ export function ContractInfoDialog(props: {
</tr>
<tr>
<td>Liquidity subsidies</td>
<td>
{mechanism === 'cpmm-1' ? 'Liquidity pool' : 'Betting pool'}
{mechanism === 'cpmm-1'
? formatMoney(contract.totalLiquidity)
: formatMoney(100)}
</td>
</tr>
<tr>
<td>Pool</td>
<td>
{mechanism === 'cpmm-1' && outcomeType === 'BINARY'
? `${Math.round(pool.YES)} YES, ${Math.round(pool.NO)} NO`
: mechanism === 'cpmm-1' && outcomeType === 'PSEUDO_NUMERIC'
? `${Math.round(pool.YES)} HIGHER, ${Math.round(
pool.NO
)} LOWER`
: contractPool(contract)}
</td>
<td>{contractPool(contract)}</td>
</tr>
{/* Show a path to Firebase if user is an admin, or we're on localhost */}
@ -228,7 +243,6 @@ export function ContractInfoDialog(props: {
<Row className="flex-wrap">
<DuplicateContractButton contract={contract} />
</Row>
{!contract.resolution && <LiquidityBountyPanel contract={contract} />}
</Col>
</Modal>
</>

4
web/components/contract/extra-contract-actions-row.tsx
View File

@ -9,6 +9,7 @@ import { FollowMarketButton } from 'web/components/follow-market-button'
import { LikeMarketButton } from 'web/components/contract/like-market-button'
import { ContractInfoDialog } from 'web/components/contract/contract-info-dialog'
import { Tooltip } from '../tooltip'
import { LiquidityButton } from './liquidity-button'
export function ExtraContractActionsRow(props: { contract: Contract }) {
const { contract } = props
@ -18,6 +19,9 @@ export function ExtraContractActionsRow(props: { contract: Contract }) {
return (
<Row>
<FollowMarketButton contract={contract} user={user} />
{contract.mechanism === 'cpmm-1' && (
<LiquidityButton contract={contract} user={user} />
)}
<LikeMarketButton contract={contract} user={user} />
<Tooltip text="Share" placement="bottom" noTap noFade>
<Button

248
web/components/contract/liquidity-bounty-panel.tsx
View File

@ -1,248 +0,0 @@
import clsx from 'clsx'
import { useEffect, useState } from 'react'
import { Contract, CPMMContract } from 'common/contract'
import { formatMoney } from 'common/util/format'
import { useUser } from 'web/hooks/use-user'
import { addLiquidity, withdrawLiquidity } from 'web/lib/firebase/api'
import { AmountInput } from 'web/components/amount-input'
import { Row } from 'web/components/layout/row'
import { useUserLiquidity } from 'web/hooks/use-liquidity'
import { Tabs } from 'web/components/layout/tabs'
import { NoLabel, YesLabel } from 'web/components/outcome-label'
import { Col } from 'web/components/layout/col'
import { track } from 'web/lib/service/analytics'
import { InfoTooltip } from 'web/components/info-tooltip'
import { BETTORS, PRESENT_BET } from 'common/user'
import { buildArray } from 'common/util/array'
import { useAdmin } from 'web/hooks/use-admin'
import { AlertBox } from '../alert-box'
import { Spacer } from '../layout/spacer'
export function LiquidityBountyPanel(props: { contract: Contract }) {
const { contract } = props
const isCPMM = contract.mechanism === 'cpmm-1'
const user = useUser()
// eslint-disable-next-line react-hooks/rules-of-hooks
const lpShares = isCPMM && useUserLiquidity(contract, user?.id ?? '')
const [showWithdrawal, setShowWithdrawal] = useState(false)
useEffect(() => {
if (!showWithdrawal && lpShares && lpShares.YES && lpShares.NO)
setShowWithdrawal(true)
}, [showWithdrawal, lpShares])
const isCreator = user?.id === contract.creatorId
const isAdmin = useAdmin()
if (!isCreator && !isAdmin && !showWithdrawal) return <></>
return (
<Tabs
tabs={buildArray(
(isCreator || isAdmin) &&
isCPMM && {
title: (isAdmin ? '[Admin] ' : '') + 'Subsidize',
content: <AddLiquidityPanel contract={contract} />,
},
showWithdrawal &&
isCPMM && {
title: 'Withdraw',
content: (
<WithdrawLiquidityPanel
contract={contract}
lpShares={lpShares as { YES: number; NO: number }}
/>
),
},
(isCreator || isAdmin) &&
isCPMM && {
title: 'Pool',
content: <ViewLiquidityPanel contract={contract} />,
}
)}
/>
)
}
function AddLiquidityPanel(props: { contract: CPMMContract }) {
const { contract } = props
const { id: contractId, slug } = contract
const user = useUser()
const [amount, setAmount] = useState<number | undefined>(undefined)
const [error, setError] = useState<string | undefined>(undefined)
const [isSuccess, setIsSuccess] = useState(false)
const [isLoading, setIsLoading] = useState(false)
const onAmountChange = (amount: number | undefined) => {
setIsSuccess(false)
setAmount(amount)
// Check for errors.
if (amount !== undefined) {
if (user && user.balance < amount) {
setError('Insufficient balance')
} else if (amount < 1) {
setError('Minimum amount: ' + formatMoney(1))
} else {
setError(undefined)
}
}
}
const submit = () => {
if (!amount) return
setIsLoading(true)
setIsSuccess(false)
addLiquidity({ amount, contractId })
.then((_) => {
setIsSuccess(true)
setError(undefined)
setIsLoading(false)
})
.catch((_) => setError('Server error'))
track('add liquidity', { amount, contractId, slug })
}
return (
<>
<div className="mb-4 text-gray-500">
Contribute your M$ to make this market more accurate.{' '}
<InfoTooltip
text={`More liquidity stabilizes the market, encouraging ${BETTORS} to ${PRESENT_BET}.`}
/>
</div>
<Row>
<AmountInput
amount={amount}
onChange={onAmountChange}
label="M$"
error={error}
disabled={isLoading}
inputClassName="w-28"
/>
<button
className={clsx('btn btn-primary ml-2', isLoading && 'btn-disabled')}
onClick={submit}
disabled={isLoading}
>
Add
</button>
</Row>
{isSuccess && amount && (
<div>Success! Added {formatMoney(amount)} in liquidity.</div>
)}
{isLoading && <div>Processing...</div>}
<Spacer h={2} />
<AlertBox
title="Withdrawals ending"
text="Manifold is moving to a new system for handling subsidization. As part of this process, liquidity withdrawals will be disabled shortly. Feel free to withdraw any outstanding liquidity you've added now."
/>
</>
)
}
function ViewLiquidityPanel(props: { contract: CPMMContract }) {
const { contract } = props
const { pool } = contract
const { YES: yesShares, NO: noShares } = pool
return (
<Col className="mb-4">
<div className="mb-4 text-gray-500">
The liquidity pool for this market currently contains:
</div>
<span>
{yesShares.toFixed(2)} <YesLabel /> shares
</span>
<span>
{noShares.toFixed(2)} <NoLabel /> shares
</span>
</Col>
)
}
function WithdrawLiquidityPanel(props: {
contract: CPMMContract
lpShares: { YES: number; NO: number }
}) {
const { contract, lpShares } = props
const { YES: yesShares, NO: noShares } = lpShares
const [_error, setError] = useState<string | undefined>(undefined)
const [isSuccess, setIsSuccess] = useState(false)
const [isLoading, setIsLoading] = useState(false)
const submit = () => {
setIsLoading(true)
setIsSuccess(false)
withdrawLiquidity({ contractId: contract.id })
.then((_) => {
setIsSuccess(true)
setError(undefined)
setIsLoading(false)
})
.catch((_) => setError('Server error'))
track('withdraw liquidity')
}
if (isSuccess)
return (
<div className="text-gray-500">
Success! Your liquidity was withdrawn.
</div>
)
if (!yesShares && !noShares)
return (
<div className="text-gray-500">
You do not have any liquidity positions to withdraw.
</div>
)
return (
<Col>
<div className="mb-4 text-gray-500">
Your liquidity position is currently:
</div>
<span>
{yesShares.toFixed(2)} <YesLabel /> shares
</span>
<span>
{noShares.toFixed(2)} <NoLabel /> shares
</span>
<Row className="mt-4 mb-2">
<button
className={clsx(
'btn btn-outline btn-sm ml-2',
isLoading && 'btn-disabled'
)}
onClick={submit}
disabled={isLoading}
>
Withdraw
</button>
</Row>
{isLoading && <div>Processing...</div>}
</Col>
)
}

92
web/components/contract/liquidity-button.tsx Normal file
View File

@ -0,0 +1,92 @@
import { useState } from 'react'
import clsx from 'clsx'
import { Button } from 'web/components/button'
import { formatMoney, shortFormatNumber } from 'common/util/format'
import { Col } from 'web/components/layout/col'
import { Tooltip } from '../tooltip'
import { CPMMContract } from 'common/contract'
import { User } from 'common/user'
import { useLiquidity } from 'web/hooks/use-liquidity'
import { LiquidityModal } from './liquidity-modal'
export function LiquidityButton(props: {
contract: CPMMContract
user: User | undefined | null
}) {
const { contract, user } = props
const { totalLiquidity: total } = contract
const lp = useLiquidity(contract.id)
const userActive = lp?.find((l) => l.userId === user?.id) !== undefined
const [open, setOpen] = useState(false)
const disabled =
contract.isResolved || (contract.closeTime ?? Infinity) < Date.now()
return (
<Tooltip
text={`${formatMoney(total)} in liquidity subsidies`}
placement="bottom"
noTap
noFade
>
<LiquidityIconButton
total={total}
userActive={userActive}
onClick={() => setOpen(true)}
disabled={disabled}
/>
<LiquidityModal contract={contract} isOpen={open} setOpen={setOpen} />
</Tooltip>
)
}
function LiquidityIconButton(props: {
total: number
onClick: () => void
userActive: boolean
isCompact?: boolean
disabled?: boolean
}) {
const { total, userActive, isCompact, onClick, disabled } = props
return (
<Button
size={'sm'}
className={clsx(
'max-w-xs self-center pt-1',
isCompact && 'px-0 py-0',
disabled && 'hover:bg-inherit'
)}
color={'gray-white'}
onClick={onClick}
disabled={disabled}
>
<Col className={'relative items-center sm:flex-row'}>
<span
className={clsx(
'text-xl sm:text-2xl',
total > 0 ? 'mr-2' : '',
userActive ? '' : 'grayscale'
)}
>
💧
</span>
{total > 0 && (
<div
className={clsx(
'bg-greyscale-5 absolute ml-3.5 mt-2 h-4 w-4 rounded-full align-middle text-white sm:mt-3 sm:h-5 sm:w-5 sm:px-1',
total > 99
? 'text-[0.4rem] sm:text-[0.5rem]'
: 'sm:text-2xs text-[0.5rem]'
)}
>
{shortFormatNumber(total)}
</div>
)}
</Col>
</Button>
)
}

108
web/components/contract/liquidity-modal.tsx Normal file
View File

@ -0,0 +1,108 @@
import { CPMMContract } from 'common/contract'
import { formatMoney } from 'common/util/format'
import { useState } from 'react'
import { useUser } from 'web/hooks/use-user'
import { addSubsidy } from 'web/lib/firebase/api'
import { track } from 'web/lib/service/analytics'
import { AmountInput } from '../amount-input'
import { Button } from '../button'
import { InfoTooltip } from '../info-tooltip'
import { Col } from '../layout/col'
import { Modal } from '../layout/modal'
import { Row } from '../layout/row'
import { Title } from '../title'
export function LiquidityModal(props: {
contract: CPMMContract
isOpen: boolean
setOpen: (open: boolean) => void
}) {
const { contract, isOpen, setOpen } = props
const { totalLiquidity } = contract
return (
<Modal open={isOpen} setOpen={setOpen} size="sm">
<Col className="gap-2.5 rounded bg-white p-4 pb-8 sm:gap-4">
<Title className="!mt-0 !mb-2" text="💧 Add a subsidy" />
<div>Total liquidity subsidies: {formatMoney(totalLiquidity)}</div>
<AddLiquidityPanel contract={contract as CPMMContract} />
</Col>
</Modal>
)
}
function AddLiquidityPanel(props: { contract: CPMMContract }) {
const { contract } = props
const { id: contractId, slug } = contract
const user = useUser()
const [amount, setAmount] = useState<number | undefined>(undefined)
const [error, setError] = useState<string | undefined>(undefined)
const [isSuccess, setIsSuccess] = useState(false)
const [isLoading, setIsLoading] = useState(false)
const onAmountChange = (amount: number | undefined) => {
setIsSuccess(false)
setAmount(amount)
// Check for errors.
if (amount !== undefined) {
if (user && user.balance < amount) {
setError('Insufficient balance')
} else if (amount < 1) {
setError('Minimum amount: ' + formatMoney(1))
} else {
setError(undefined)
}
}
}
const submit = () => {
if (!amount) return
setIsLoading(true)
setIsSuccess(false)
addSubsidy({ amount, contractId })
.then((_) => {
setIsSuccess(true)
setError(undefined)
setIsLoading(false)
})
.catch((_) => setError('Server error'))
track('add liquidity', { amount, contractId, slug })
}
return (
<>
<div className="mb-4 text-gray-500">
Contribute your M$ to make this market more accurate by subsidizing
trading.{' '}
<InfoTooltip text="Liquidity is how much money traders can make if they're right. The more traders can earn, the greater the incentive to find the correct probability." />
</div>
<Row>
<AmountInput
amount={amount}
onChange={onAmountChange}
label="M$"
error={error}
disabled={isLoading}
inputClassName="w-16 mr-4"
/>
<Button size="md" color="blue" onClick={submit} disabled={isLoading}>
Add
</Button>
</Row>
{isSuccess && amount && (
<div>Success! Added {formatMoney(amount)} in liquidity.</div>
)}
{isLoading && <div>Processing...</div>}
</>
)
}

9
web/components/contract/tip-button.tsx
View File

@ -1,7 +1,8 @@
import { HeartIcon } from '@heroicons/react/outline'
import { Button } from 'web/components/button'
import { formatMoney } from 'common/util/format'
import clsx from 'clsx'
import { HeartIcon } from '@heroicons/react/outline'
import { Button } from 'web/components/button'
import { formatMoney, shortFormatNumber } from 'common/util/format'
import { Col } from 'web/components/layout/col'
import { Tooltip } from '../tooltip'
@ -51,7 +52,7 @@ export function TipButton(props: {
: 'sm:text-2xs text-[0.5rem]'
)}
>
{totalTipped}
{shortFormatNumber(totalTipped)}
</div>
)}
</Col>

7
web/hooks/use-liquidity.ts
View File

@ -21,11 +21,6 @@ export const useLiquidity = (contractId: string) => {
export const useUserLiquidity = (contract: CPMMContract, userId: string) => {
const liquidities = useLiquidity(contract.id)
const userShares = getUserLiquidityShares(
userId,
contract,
liquidities ?? [],
true
)
const userShares = getUserLiquidityShares(userId, contract, liquidities ?? [])
return userShares
}

8
web/lib/firebase/api.ts
View File

@ -42,8 +42,8 @@ export function changeUserInfo(params: any) {
return call(getFunctionUrl('changeuserinfo'), 'POST', params)
}
export function addLiquidity(params: any) {
return call(getFunctionUrl('addliquidity'), 'POST', params)
export function addSubsidy(params: any) {
return call(getFunctionUrl('addsubsidy'), 'POST', params)
}
export function addCommentBounty(params: any) {
@ -54,10 +54,6 @@ export function awardCommentBounty(params: any) {
return call(getFunctionUrl('awardcommentbounty'), 'POST', params)
}
export function withdrawLiquidity(params: any) {
return call(getFunctionUrl('withdrawliquidity'), 'POST', params)
}
export function createMarket(params: any) {
return call(getFunctionUrl('createmarket'), 'POST', params)
}