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feat: foxwifhat discount #8663

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Jan 28, 2025
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Original file line number Diff line number Diff line change
@@ -1,5 +1,5 @@
import { skipToken as reduxSkipToken } from '@reduxjs/toolkit/query'
import { fromAccountId } from '@shapeshiftoss/caip'
import { foxWifHatAssetId, fromAccountId } from '@shapeshiftoss/caip'
import { isLedger } from '@shapeshiftoss/hdwallet-ledger'
import type {
GetTradeQuoteInput,
Expand Down Expand Up @@ -36,6 +36,7 @@ import { swapperApi } from 'state/apis/swapper/swapperApi'
import type { ApiQuote, TradeQuoteError } from 'state/apis/swapper/types'
import {
selectPortfolioAccountMetadataByAccountId,
selectPortfolioCryptoBalanceBaseUnitByFilter,
selectUsdRateByAssetId,
} from 'state/slices/selectors'
import {
Expand Down Expand Up @@ -213,6 +214,9 @@ export const useGetTradeQuotes = () => {

const votingPower = useAppSelector(state => selectVotingPower(state, votingPowerParams))
const thorVotingPower = useAppSelector(state => selectVotingPower(state, thorVotingPowerParams))
const foxWifHatHeld = useAppSelector(state =>
selectPortfolioCryptoBalanceBaseUnitByFilter(state, { assetId: foxWifHatAssetId }),
)

const walletSupportsBuyAssetChain = useWalletSupportsChain(buyAsset.chainId, wallet)
const isBuyAssetChainSupported = walletSupportsBuyAssetChain
Expand Down Expand Up @@ -273,6 +277,7 @@ export const useGetTradeQuotes = () => {
tradeAmountUsd,
foxHeld: bnOrZero(votingPower),
thorHeld: bnOrZero(thorVotingPower),
foxWifHatHeld: bnOrZero(foxWifHatHeld),
feeModel: 'SWAPPER',
isSnapshotApiQueriesRejected,
})
Expand Down Expand Up @@ -321,6 +326,7 @@ export const useGetTradeQuotes = () => {
sellAsset,
sellAssetUsdRate,
thorVotingPower,
foxWifHatHeld,
userSlippageTolerancePercentageDecimal,
votingPower,
wallet,
Expand Down
Original file line number Diff line number Diff line change
@@ -1,5 +1,5 @@
import { skipToken } from '@reduxjs/toolkit/dist/query'
import { fromAccountId } from '@shapeshiftoss/caip'
import { foxWifHatAssetId, fromAccountId } from '@shapeshiftoss/caip'
import { isLedger } from '@shapeshiftoss/hdwallet-ledger'
import type { GetTradeRateInput, TradeRate } from '@shapeshiftoss/swapper'
import {
Expand Down Expand Up @@ -28,6 +28,7 @@ import {
} from 'state/apis/snapshot/selectors'
import { swapperApi } from 'state/apis/swapper/swapperApi'
import type { ApiQuote, TradeQuoteError } from 'state/apis/swapper/types'
import { selectPortfolioCryptoBalanceBaseUnitByFilter } from 'state/slices/common-selectors'
import { selectUsdRateByAssetId } from 'state/slices/marketDataSlice/selectors'
import { selectPortfolioAccountMetadataByAccountId } from 'state/slices/portfolioSlice/selectors'
import {
Expand Down Expand Up @@ -135,6 +136,10 @@ export const useGetTradeRates = () => {
const sellAccountId = useAppSelector(selectFirstHopSellAccountId)
const buyAccountId = useAppSelector(selectLastHopBuyAccountId)

const foxWifHatHeld = useAppSelector(state =>
selectPortfolioCryptoBalanceBaseUnitByFilter(state, { assetId: foxWifHatAssetId }),
)

const userSlippageTolerancePercentageDecimal = useAppSelector(selectUserSlippagePercentageDecimal)

const sellAccountMetadataFilter = useMemo(
Expand Down Expand Up @@ -193,6 +198,7 @@ export const useGetTradeRates = () => {
// referentially invalidate, while ensuring the *initial* connection of a wallet when quotes were gotten without one, doesn't invalidate anything
sellAccountMetadata,
votingPower,
foxWifHatHeld,
thorVotingPower,
receiveAccountMetadata,
sellAccountId,
Expand Down Expand Up @@ -226,6 +232,7 @@ export const useGetTradeRates = () => {
tradeAmountUsd,
foxHeld: bnOrZero(votingPower),
thorHeld: bnOrZero(thorVotingPower),
foxWifHatHeld: bnOrZero(foxWifHatHeld),
feeModel: 'SWAPPER',
isSnapshotApiQueriesRejected,
})
Expand Down
5 changes: 5 additions & 0 deletions src/lib/fees/constant.ts
Original file line number Diff line number Diff line change
@@ -0,0 +1,5 @@
// This timestamp is the 24th of January 2025
export const FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS = 1737707777000
// Supposed to end the 5th of May 2025
export const FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS = 1746396000000
export const FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT = 10000000000000000000000
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116 changes: 115 additions & 1 deletion src/lib/fees/model.test.ts
Original file line number Diff line number Diff line change
@@ -1,8 +1,13 @@
import { describe, expect, it, vi } from 'vitest'
import { afterEach, beforeEach, describe, expect, it, vi } from 'vitest'
import { bn } from 'lib/bignumber/bignumber'
import { selectIsSnapshotApiQueriesRejected } from 'state/apis/snapshot/selectors'
import { store } from 'state/store'

import {
FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS,
FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS,
FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT,
} from './constant'
import { calculateFees } from './model'
import { swapperParameters } from './parameters/swapper'

Expand Down Expand Up @@ -137,4 +142,113 @@ describe('calculateFees', () => {
expect(feeBps.toNumber()).toEqual(FEE_CURVE_MAX_FEE_BPS)
expect(foxDiscountPercent).toEqual(bn(0))
})

describe('foxWifHat campaign', () => {
beforeEach(() => {
vi.useFakeTimers()
})

afterEach(() => {
vi.useRealTimers()
})

it('should return 100% discount at campaign start for eligible holders', () => {
vi.setSystemTime(new Date(FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS))
const tradeAmountUsd = bn(FEE_CURVE_MIDPOINT_USD)
const foxHeld = bn(0)
const foxWifHatHeld = bn(FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT)
const isSnapshotApiQueriesRejected = selectIsSnapshotApiQueriesRejected(store.getState())

const { feeBps, foxDiscountPercent } = calculateFees({
tradeAmountUsd,
foxHeld,
foxWifHatHeld,
feeModel: 'SWAPPER',
isSnapshotApiQueriesRejected,
})

expect(feeBps.toNumber()).toEqual(0)
expect(foxDiscountPercent.toNumber()).toEqual(100)
})

it('should return 50% discount at campaign midpoint for eligible holders', () => {
const campaignMidpoint =
FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS +
(FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS - FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS) / 2

vi.setSystemTime(new Date(campaignMidpoint))
const tradeAmountUsd = bn(FEE_CURVE_MIDPOINT_USD)
const foxHeld = bn(0)
const foxWifHatHeld = bn(FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT)
const isSnapshotApiQueriesRejected = selectIsSnapshotApiQueriesRejected(store.getState())

const { feeBps, foxDiscountPercent } = calculateFees({
tradeAmountUsd,
foxHeld,
foxWifHatHeld,
feeModel: 'SWAPPER',
isSnapshotApiQueriesRejected,
})

expect(foxDiscountPercent.toNumber()).toBeCloseTo(50, 0)
expect(feeBps.toNumber()).toBeCloseTo(17, 0) // ~35 * 0.5
})

it('should return 0% discount at campaign end for eligible holders', () => {
vi.setSystemTime(new Date(FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS))
const tradeAmountUsd = bn(FEE_CURVE_MIDPOINT_USD)
const foxHeld = bn(0)
const foxWifHatHeld = bn(FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT)
const isSnapshotApiQueriesRejected = selectIsSnapshotApiQueriesRejected(store.getState())

const { feeBps, foxDiscountPercent } = calculateFees({
tradeAmountUsd,
foxHeld,
foxWifHatHeld,
feeModel: 'SWAPPER',
isSnapshotApiQueriesRejected,
})

expect(foxDiscountPercent.toNumber()).toEqual(0)
expect(feeBps.toNumber()).toEqual(35) // No discount applied
})

it('should return no discount for holders below minimum amount', () => {
vi.setSystemTime(new Date(FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS))
const tradeAmountUsd = bn(FEE_CURVE_MIDPOINT_USD)
const foxHeld = bn(0)
const foxWifHatHeld = bn(FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT).minus(1)
const isSnapshotApiQueriesRejected = selectIsSnapshotApiQueriesRejected(store.getState())

const { feeBps, foxDiscountPercent } = calculateFees({
tradeAmountUsd,
foxHeld,
foxWifHatHeld,
feeModel: 'SWAPPER',
isSnapshotApiQueriesRejected,
})

expect(foxDiscountPercent.toNumber()).toEqual(0)
expect(feeBps.toNumber()).toEqual(35)
})

it('should return no discount outside campaign period', () => {
vi.setSystemTime(new Date(FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS + 1))
const tradeAmountUsd = bn(FEE_CURVE_MIDPOINT_USD)
const foxHeld = bn(0)
const foxWifHatHeld = bn(FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT)
const isSnapshotApiQueriesRejected = selectIsSnapshotApiQueriesRejected(store.getState())

const { feeBps, foxDiscountPercent } = calculateFees({
tradeAmountUsd,
foxHeld,
foxWifHatHeld,
feeModel: 'SWAPPER',
isSnapshotApiQueriesRejected,
})

expect(foxDiscountPercent.toNumber()).toEqual(0)
expect(feeBps.toNumber()).toEqual(35)
})
})
})
44 changes: 39 additions & 5 deletions src/lib/fees/model.ts
Original file line number Diff line number Diff line change
Expand Up @@ -2,6 +2,11 @@ import BigNumber from 'bignumber.js'
import { getConfig } from 'config'
import { bn, bnOrZero } from 'lib/bignumber/bignumber'

import {
FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS,
FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS,
FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT,
} from './constant'
import { FEE_CURVE_PARAMETERS } from './parameters'
import type { ParameterModel } from './parameters/types'

Expand All @@ -12,6 +17,7 @@ type CalculateFeeBpsArgs = {
tradeAmountUsd: BigNumber
foxHeld: BigNumber
thorHeld?: BigNumber
foxWifHatHeld?: BigNumber
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feeModel: ParameterModel
isSnapshotApiQueriesRejected: boolean
}
Expand Down Expand Up @@ -43,6 +49,7 @@ export const calculateFees: CalculateFeeBps = ({
foxHeld,
feeModel,
thorHeld,
foxWifHatHeld,
isSnapshotApiQueriesRejected,
}) => {
const {
Expand All @@ -59,30 +66,57 @@ export const calculateFees: CalculateFeeBps = ({
const midpointUsd = bn(FEE_CURVE_MIDPOINT_USD)
const feeCurveSteepness = bn(FEE_CURVE_STEEPNESS_K)
const isThorFreeEnabled = getConfig().REACT_APP_FEATURE_THOR_FREE_FEES
const isFoxWifHatEnabled = getConfig().REACT_APP_FEATURE_FOX_PAGE_FOX_WIF_HAT_SECTION

const isFoxWifHatCampaignActive =
new Date().getTime() >= FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS &&
new Date().getTime() <= FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS &&
isFoxWifHatEnabled

const currentFoxWifHatDiscountPercent = (() => {
if (!foxWifHatHeld || foxWifHatHeld?.lt(FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT)) return bn(0)

const currentTime = new Date().getTime()
const totalCampaignDuration =
FOX_WIF_HAT_CAMPAIGN_ENDING_TIME_MS - FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS
const timeElapsed = currentTime - FOX_WIF_HAT_CAMPAIGN_STARTING_TIME_MS
const remainingPercentage = bn(100).times(
bn(1).minus(bn(timeElapsed).div(totalCampaignDuration)),
)

return BigNumber.maximum(BigNumber.minimum(remainingPercentage, bn(100)), bn(0))
})()

// trades below the fee threshold are free.
const isFree = tradeAmountUsd.lt(noFeeThresholdUsd)

const isThorFree =
isThorFreeEnabled &&
thorHeld?.isGreaterThanOrEqualTo(THORSWAP_UNIT_THRESHOLD) &&
thorHeld?.gte(THORSWAP_UNIT_THRESHOLD) &&
new Date().getUTCFullYear() < THORSWAP_MAXIMUM_YEAR_TRESHOLD

// failure to fetch fox discount results in free trades.
const isFallbackFees = isSnapshotApiQueriesRejected
const isFallbackFees =
isSnapshotApiQueriesRejected &&
(!foxWifHatHeld ||
foxWifHatHeld?.lt(FOX_WIF_HAT_MINIMUM_AMOUNT_BASE_UNIT) ||
!isFoxWifHatCampaignActive)
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// the fox discount before any other logic is applied
const foxBaseDiscountPercent = (() => {
if (isFree) return bn(100)
// THOR holder before TIP014 are trade free until 2025
if (isThorFree) return bn(100)
// No discount if we cannot fetch FOX holdings
if (isFallbackFees) return bn(0)

return BigNumber.minimum(
const foxDiscountPercent = BigNumber.minimum(
bn(100),
bnOrZero(foxHeld).times(100).div(bn(FEE_CURVE_FOX_MAX_DISCOUNT_THRESHOLD)),
)

// No discount if we cannot fetch FOX holdings
if (isFallbackFees) return bn(0)

return BigNumber.maximum(foxDiscountPercent, currentFoxWifHatDiscountPercent)
})()

// the fee bps before the fox discount is applied, as a floating point number
Expand Down
16 changes: 14 additions & 2 deletions src/state/apis/snapshot/selectors.ts
Original file line number Diff line number Diff line change
@@ -1,5 +1,5 @@
import { QueryStatus } from '@reduxjs/toolkit/dist/query'
import { ethChainId } from '@shapeshiftoss/caip'
import { ethChainId, foxWifHatAssetId } from '@shapeshiftoss/caip'
import { bnOrZero } from '@shapeshiftoss/utils'
import createCachedSelector from 're-reselect'
import type { Selector } from 'reselect'
Expand All @@ -10,6 +10,7 @@ import type { ParameterModel } from 'lib/fees/parameters/types'
import { isSome } from 'lib/utils'
import type { ReduxState } from 'state/reducer'
import { selectFeeModelParamFromFilter } from 'state/selectors'
import { selectPortfolioAssetBalancesBaseUnit } from 'state/slices/common-selectors'
import { selectAccountIdsByChainId } from 'state/slices/portfolioSlice/selectors'

const selectSnapshotApiQueries = (state: ReduxState) => state.snapshotApi.queries
Expand Down Expand Up @@ -64,11 +65,22 @@ export const selectCalculatedFees: Selector<ReduxState, CalculateFeeBpsReturn> =
selectVotingPower,
selectThorVotingPower,
selectIsSnapshotApiQueriesRejected,
(feeModel, inputAmountUsd, votingPower, thorVotingPower, isSnapshotApiQueriesRejected) => {
selectPortfolioAssetBalancesBaseUnit,
(
feeModel,
inputAmountUsd,
votingPower,
thorVotingPower,
isSnapshotApiQueriesRejected,
assetBalances,
) => {
const foxWifHatHeld = assetBalances[foxWifHatAssetId]

const fees: CalculateFeeBpsReturn = calculateFees({
tradeAmountUsd: bnOrZero(inputAmountUsd),
foxHeld: bnOrZero(votingPower),
thorHeld: bnOrZero(thorVotingPower),
foxWifHatHeld: bnOrZero(foxWifHatHeld),
feeModel,
isSnapshotApiQueriesRejected,
})
Expand Down