IInterestRatePolicy

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Title: IInterestRatePolicy

Interface of interest rate policies that compute rates for renewal pricing.

Rate values are rates per second in WAD (1e18 = 100% per second). Policies receive the source and target market ids for collateral-sensitive pricing, the renewal period start timestamp to compute elapsed time internally, the user address (the position owner being renewed), the taker filling the offer for counterparty-aware pricing, the source and target maturities for context, and the user's side for direction-aware pricing.

Policies are user-supplied and untrusted by the protocol; integrators and keepers must treat getRate as potentially reverting or gas-expensive.

Functions

getRate

Returns the interest rate for the given renewal context.

function getRate(
    bytes32 sourceTenorMarketId,
    bytes32 targetTenorMarketId,
    uint256 renewalPeriodStart,
    address user,
    address taker,
    uint256 sourceMaturity,
    uint256 targetMaturity,
    bool userIsBuyer
) external view returns (uint256 rate);

Parameters

Name	Type	Description
sourceTenorMarketId	bytes32	The id of the source side of the renewal (the position being closed).
targetTenorMarketId	bytes32	The id of the target side of the renewal (the position being entered).
renewalPeriodStart	uint256	The renewal period start timestamp (the policy computes the elapsed time internally).
user	address	The position owner being renewed (the offer maker in the make-on-behalf flow).
taker	address	The Midnight.take taker, forwarded from isRatified.
sourceMaturity	uint256	The source market maturity (0 for Blue to Midnight migrations).
targetMaturity	uint256	The target market maturity (0 for Midnight to Blue exits).
userIsBuyer	bool	The renewed user's side in the trade, derived from the migration direction.

Returns

Name	Type	Description
rate	uint256	The interpolated rate per second in WAD at the given elapsed time.