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f8e0c64
multi debt
nialexsan Feb 27, 2026
921efff
Merge remote-tracking branch 'origin/main' into nialexsan/multi-debt
nialexsan Feb 27, 2026
cfbcd1a
Apply suggestion from @nialexsan
nialexsan Feb 27, 2026
7b1a144
fix refs
nialexsan Feb 27, 2026
c492f20
fix balance
nialexsan Feb 27, 2026
a7f0828
revert MOET collateral restriction
nialexsan Feb 27, 2026
4c9e452
fix test
nialexsan Feb 28, 2026
a916839
fix testing transactions
nialexsan Feb 28, 2026
aa091eb
Merge branch 'main' into nialexsan/multi-debt
nialexsan Feb 28, 2026
2b1ed97
add tests
nialexsan Feb 28, 2026
7187d1e
fix test
nialexsan Feb 28, 2026
1a6b4ec
method names for multi types
nialexsan Mar 2, 2026
093d823
reserve handler
nialexsan Mar 4, 2026
e3dcb84
Apply suggestion from @jordanschalm
nialexsan Mar 4, 2026
8153647
Fix phantom debt/collateral types after exact zero balances
liobrasil Mar 4, 2026
368dbaa
trim tests
nialexsan Mar 4, 2026
a414472
fix test
nialexsan Mar 4, 2026
385387f
Merge branch 'nialexsan/multi-debt' into lionel/fix-phantom-balance-t…
nialexsan Mar 4, 2026
3641469
Merge pull request #199 from onflow/lionel/fix-phantom-balance-types
nialexsan Mar 4, 2026
ebffab0
move around
nialexsan Mar 5, 2026
5d9b84c
address comments
nialexsan Mar 5, 2026
6e95bab
Merge branch 'main' into nialexsan/multi-debt
nialexsan Mar 5, 2026
af6b9d7
fix test
nialexsan Mar 5, 2026
5058488
skip multi collateral tests
nialexsan Mar 5, 2026
9fbd813
skip test
nialexsan Mar 5, 2026
b65f0ff
fix zero balance check
nialexsan Mar 5, 2026
c0713a7
Merge branch 'main' into nialexsan/multi-debt
liobrasil Mar 5, 2026
416a9d2
clean-up
nialexsan Mar 6, 2026
23603b4
simplify handler
nialexsan Mar 6, 2026
ee601c1
tweak handler
nialexsan Mar 6, 2026
08fd6fd
switch tests to use dummy token
nialexsan Mar 6, 2026
8d48045
revert unnecessary changes
nialexsan Mar 7, 2026
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247 changes: 247 additions & 0 deletions cadence/contracts/FlowALPModels.cdc
Original file line number Diff line number Diff line change
Expand Up @@ -2,6 +2,7 @@ import "FungibleToken"
import "DeFiActions"
import "DeFiActionsUtils"
import "MOET"
import "Burner"
import "FlowALPMath"
import "FlowALPInterestRates"
import "FlowALPEvents"
Expand Down Expand Up @@ -244,6 +245,147 @@ access(all) contract FlowALPModels {
}
}

/// TokenReserveHandler
///
/// Interface for handling token reserve operations. Different token types may require
/// different handling for deposits and withdrawals. For example, MOET tokens are minted
/// on debt withdrawals and burned on repayments, while standard tokens use reserve vaults.
access(all) struct interface TokenReserveHandler {
/// Returns the token type this handler manages
access(all) view fun getTokenType(): Type

/// Deposits collateral (always to reserves, including MOET)
access(all) fun depositCollateral(
state: auth(EImplementation) &{PoolState},
from: @{FungibleToken.Vault}
): UFix64

/// Deposits repayment (to reserves for most tokens, BURNS for MOET)
access(all) fun depositRepayment(
state: auth(EImplementation) &{PoolState},
from: @{FungibleToken.Vault}
): UFix64

/// Withdraws debt (from reserves for most tokens, MINTS for MOET)
access(all) fun withdrawDebt(
state: auth(EImplementation) &{PoolState},
amount: UFix64,
minterRef: &MOET.Minter?
): @{FungibleToken.Vault}

/// Withdraws collateral (always from reserves, including MOET)
access(all) fun withdrawCollateral(
state: auth(EImplementation) &{PoolState},
amount: UFix64
): @{FungibleToken.Vault}
}

/// StandardTokenReserveHandler
///
/// Standard implementation of TokenReserveHandler that interacts with reserve vaults
/// for all four operations (deposit/withdraw collateral and debt).
access(all) struct StandardTokenReserveHandler: TokenReserveHandler {
access(self) let tokenType: Type

init(tokenType: Type) {
self.tokenType = tokenType
}

access(all) view fun getTokenType(): Type {
return self.tokenType
}

access(all) fun depositCollateral(
state: auth(EImplementation) &{PoolState},
from: @{FungibleToken.Vault}
): UFix64 {
let amount = from.balance
let reserveVault = state.borrowOrCreateReserve(self.tokenType)
reserveVault.deposit(from: <-from)
return amount
}

access(all) fun depositRepayment(
state: auth(EImplementation) &{PoolState},
from: @{FungibleToken.Vault}
): UFix64 {
let amount = from.balance
let reserveVault = state.borrowOrCreateReserve(self.tokenType)
reserveVault.deposit(from: <-from)
return amount
}

access(all) fun withdrawDebt(
state: auth(EImplementation) &{PoolState},
amount: UFix64,
minterRef: &MOET.Minter?
): @{FungibleToken.Vault} {
let reserveVault = state.borrowOrCreateReserve(self.tokenType)
return <- reserveVault.withdraw(amount: amount)
}

access(all) fun withdrawCollateral(
state: auth(EImplementation) &{PoolState},
amount: UFix64
): @{FungibleToken.Vault} {
let reserveVault = state.borrowOrCreateReserve(self.tokenType)
return <- reserveVault.withdraw(amount: amount)
}
}

/// MoetTokenReserveHandler
///
/// Special implementation of TokenReserveHandler for MOET tokens.
/// - Collateral deposits/withdrawals use reserve vaults (standard behavior)
/// - Debt repayments BURN the MOET tokens (reducing supply)
/// - Debt withdrawals MINT new MOET tokens (increasing supply)
access(all) struct MoetTokenReserveHandler: TokenReserveHandler {

init() {}

access(all) view fun getTokenType(): Type {
return Type<@MOET.Vault>()
}

access(all) fun depositCollateral(
state: auth(EImplementation) &{PoolState},
from: @{FungibleToken.Vault}
): UFix64 {
let amount = from.balance
let reserveVault = state.borrowOrCreateReserve(Type<@MOET.Vault>())
reserveVault.deposit(from: <-from)
return amount
}

access(all) fun depositRepayment(
state: auth(EImplementation) &{PoolState},
from: @{FungibleToken.Vault}
): UFix64 {
// Repayments burn MOET tokens to reduce supply
let amount = from.balance
Burner.burn(<-from)
return amount
}

access(all) fun withdrawDebt(
state: auth(EImplementation) &{PoolState},
amount: UFix64,
minterRef: &MOET.Minter?
): @{FungibleToken.Vault} {
// Debt withdrawals mint new MOET tokens
assert(minterRef != nil, message: "MOET Minter reference required for debt withdrawal")
return <- minterRef!.mintTokens(amount: amount)
}

access(all) fun withdrawCollateral(
state: auth(EImplementation) &{PoolState},
amount: UFix64
): @{FungibleToken.Vault} {
let reserveVault = state.borrowOrCreateReserve(Type<@MOET.Vault>())
return <- reserveVault.withdraw(amount: amount)
}
}

/// Risk parameters for a token used in effective collateral/debt computations.
/// The collateral and borrow factors are fractional values which represent a discount to the "true/market" value of the token.
/// The size of this discount indicates a subjective assessment of risk for the token.
Expand Down Expand Up @@ -1070,6 +1212,10 @@ access(all) contract FlowALPModels {
access(EImplementation) fun increaseDebitBalance(by amount: UFix128)
/// Decreases total debit balance (floored at 0) and recalculates interest rates.
access(EImplementation) fun decreaseDebitBalance(by amount: UFix128)

/// Returns the reserve operations handler for this token type.
/// Different tokens may have different reserve behaviors (e.g., MOET burns on repayment, others use reserves).
access(all) view fun getReserveOperations(): {TokenReserveHandler}
}

/// TokenStateImplv1 is the concrete implementation of TokenState.
Expand Down Expand Up @@ -1141,6 +1287,8 @@ access(all) contract FlowALPModels {
/// - A credit balance greater than or equal to M
/// - A debit balance greater than or equal to M
access(self) var minimumTokenBalancePerPosition: UFix64
/// The reserve operations handler for this token type
access(self) let reserveHandler: {TokenReserveHandler}

init(
tokenType: Type,
Expand Down Expand Up @@ -1169,6 +1317,12 @@ access(all) contract FlowALPModels {
self.depositUsage = {}
self.lastDepositCapacityUpdate = getCurrentBlock().timestamp
self.minimumTokenBalancePerPosition = 1.0
// Initialize reserve handler based on token type
if tokenType == Type<@MOET.Vault>() {
self.reserveHandler = MoetTokenReserveHandler()
} else {
self.reserveHandler = StandardTokenReserveHandler(tokenType: tokenType)
}
}

// --- Getters ---
Expand All @@ -1178,6 +1332,11 @@ access(all) contract FlowALPModels {
return self.tokenType
}

/// Returns the reserve operations handler for this token type.
access(all) view fun getReserveOperations(): {TokenReserveHandler} {
return self.reserveHandler
}

/// Returns the timestamp at which the TokenState was last updated.
access(all) view fun getLastUpdate(): UFix64 {
return self.lastUpdate
Expand Down Expand Up @@ -1903,6 +2062,22 @@ access(all) contract FlowALPModels {
/// Sets the top-up source. See borrowTopUpSource for additional details.
/// If nil, the Pool will not pull underflown value, and liquidation may occur.
access(EImplementation) fun setTopUpSource(_ source: {DeFiActions.Source}?)

/// Returns the current collateral types for this position based on existing Credit balances
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@jordanschalm jordanschalm Mar 4, 2026

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The current implementation injects checks in all places where we might add/remove a debt/collateral balance, and uses the validate* functions below to guard against adding more balances than we want to support.

I am wondering if we can use post-conditions and these getCollateralTypes functions to simplify this new logic and localize the temporary balance constraint to a smaller cross-section of the code. For example, if we added something like the following post-conditions to all functions which are able to modify position balances:

// we can localize the temporary constraint to one validation function, and document the reasoning behind it here
fun positionSatisfiesTemporaryBalanceConstraint(pid): Bool {
    return getCollateralTypes(pid) <= 1 && getDebtTypes(pid) <= 1
}

// then, in functions which might violate the constraint, we can add a post-condition
post {
    self.positionSatisfiesTemporaryBalanceConstraint(pid): "..."
}

This way, we don't need to make any modifications to the business logic of affected functions, we just let them execute as normal and revert if their end state conflicts with the constraint.

/// Returns empty array if no Credit balance exists yet (allows any collateral type for first deposit)
access(all) fun getCollateralTypes(): [Type]

/// Returns the current debt types for this position based on existing Debit balances
/// Returns empty array if no Debit balance exists yet (allows any debt type for first borrow)
access(all) fun getDebtTypes(): [Type]

/// Validates that the given token type can be used as collateral for this position
/// Panics if position already has a different collateral type
access(EImplementation) fun validateCollateralType(_ type: Type)

/// Validates that the given token type can be used as debt for this position
/// Panics if position already has a different debt type
access(EImplementation) fun validateDebtType(_ type: Type)
}

/// InternalPositionImplv1 is the concrete implementation of InternalPosition.
Expand Down Expand Up @@ -2071,6 +2246,78 @@ access(all) contract FlowALPModels {
access(EImplementation) fun setTopUpSource(_ source: {DeFiActions.Source}?) {
self.topUpSource = source
}

/// Returns the current collateral types for this position based on existing Credit balances
/// Returns empty array if no Credit balance exists yet (allows any collateral type for first deposit)
access(all) fun getCollateralTypes(): [Type] {
let types: [Type] = []
for type in self.balances.keys {
if self.balances[type]!.direction == BalanceDirection.Credit {
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@liobrasil liobrasil Mar 4, 2026

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Follow-up fix: this type discovery now needs to ignore zero balances. Otherwise exact repay/full withdraw can leave a phantom type that still trips validateDebtType/validateCollateralType. Addressed in PR #199

types.append(type)
}
}
return types
}

/// Returns the current debt types for this position based on existing Debit balances
/// Returns empty array if no Debit balance exists yet (allows any debt type for first borrow)
access(all) fun getDebtTypes(): [Type] {
let types: [Type] = []
for type in self.balances.keys {
if self.balances[type]!.direction == BalanceDirection.Debit {
types.append(type)
}
}
return types
}

/// Validates that the given token type can be used as collateral for this position
/// Panics if position already has a different collateral type
access(EImplementation) fun validateCollateralType(_ type: Type) {
let existingTypes = self.getCollateralTypes()

// Constraint: For now, only one collateral type is allowed per position
// This assertion ensures the invariant is maintained
assert(existingTypes.length <= 1, message: "Internal error: Position has multiple collateral types")

if existingTypes.length == 0 {
// No collateral yet, allow any type
return
}

// Check if type already exists (idempotent)
if existingTypes.contains(type) {
return
}

// For now, only one collateral type is allowed per position
// This restriction can be removed in the future to support multiple collateral types
panic("Position already has collateral type ".concat(existingTypes[0].identifier).concat(". Cannot deposit ").concat(type.identifier).concat(". Only one collateral type allowed per position."))
}

/// Validates that the given token type can be used as debt for this position
/// Panics if position already has a different debt type
access(EImplementation) fun validateDebtType(_ type: Type) {
let existingTypes = self.getDebtTypes()

// Constraint: For now, only one debt type is allowed per position
// This assertion ensures the invariant is maintained
assert(existingTypes.length <= 1, message: "Internal error: Position has multiple debt types")

if existingTypes.length == 0 {
// No debt yet, allow any type
return
}

// Check if type already exists (idempotent)
if existingTypes.contains(type) {
return
}

// For now, only one debt type is allowed per position
// This restriction can be removed in the future to support multiple debt types
panic("Position already has debt type ".concat(existingTypes[0].identifier).concat(". Cannot borrow ").concat(type.identifier).concat(". Only one debt type allowed per position."))
}
}

/// Factory function to create a new InternalPositionImplv1 resource.
Expand Down
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