BroderickBonelli
commented
2 years ago It looks like dailyProtocolSideRevenue data under financialDailySnapshots is off from timestamp 1614125965 to 1615245579, values are too large.
Closed bye43 closed 2 years ago
BroderickBonelli
commented
2 years ago It looks like dailyProtocolSideRevenue data under financialDailySnapshots is off from timestamp 1614125965 to 1615245579, values are too large.
tnkrxyz
commented
2 years ago Thanks for the QA report!
Protocol Metrics
| Section | Metric | Issue | Response |
|---|---|---|---|
| financialsDailySnapshots | dailyProtocolSideRevenueUSD | Data scaling is off. Some dates are correctly matching Dune, but others are exponentially too large. For example, 7/09/2022 is 1,992,000,000,000,000,500 | This is due to incorrect handling of decimals in stabilizer fee; fixed in #856 |
| financialsDailySnapshots | cumulativeProtocolSideRevenueUSD | Daily is off so this will be too | same as above |
| financialsDailySnapshots | dailyTotalRevenueUSD | Data scaling is off. Some dates are correctly matching Dune, but others are exponentially too large. For example, 7/09/2022 is 1,992,000,000,000,002,800 | same as above |
| financialsDailySnapshots | cumulativeTotalRevenueUSD | Daily is off so this will be too | same as above |
| financialsDailySnapshots | totalDepositBalanceUSD | The trend looks correct for this, but based on the Inverse Finance UI, there is about a -50% difference in values for certain dates. Link - https://www.inverse.finance/analytics | See note below |
| financialsDailySnapshots | dailyDepositUSD | Big Spike on 04/02/2022 that does not look correct | This is due to price oracle exploit that inflated the price of INV. TVL and deposit balance are not affect, because they have been re-priced using new/un-manipulated price |
| financialsDailySnapshots | cumulativeDepositUSD | Daily is off, hence cumulative will also be | same as above |
Inverse finance's own deposit balance/TVL at https://www.inverse.finance/analytics seems problematic - it reports $19M DOLA, $1.9M WBTC and $2.9M ETH for 8/23/2022. The on-chain data for these markets report different numbers:
Defillama reports TVL of $9.2M INV, 1.7M FLOKI, but $160k DOLA. If they have the correct DOLA amount ($7.7M), they would have a deposit balance/TVL close to our number of ~$20M.
Pool Overview
Pool Metric Issue Response/Comment INV-DOLA-SLP Reward Token Should be INV rewards for this pool This is due more strict foreign key policy in newer version of graph-cli/graph-node; it worked fine with earlier version. Fixed in #856 Pool Metrics
Pool Section Metric Response/Comment marketDailySnapshots cumulativeSupplySideRevenueUSD Daily looks correct, but the cumulative is about 50% off from dune query. Link - https://dune.com/queries/1021789 there was a bug in market level revenue fields. This is fixed in #856 marketDailySnapshots cumulativeProtocolSideRevenueUSD Scaling is off again here too. Y - axis is going up to 2E23 Due to incorrect handle of stablizer fee. Fixed in #856 marketDailySnapshots cumulativeTotalRevenueUSD Scaling is off again here too. Y - axis is going up to 2E23 same as above marketDailySnapshots inputTokenPriceUSD - DOLA: Dola USD Stablecoin Subgraph data type needs to be reviewed to decimals not int as the data does not show if DOLA depegs or not The price of DOLA is returned from the oracle contract, getUnderlyingPrice()for "0x7fcb7dac61ee35b3d4a51117a7c58d53f0a8a670" (the Anchor DOLA market) returns exactly 1.marketDailySnapshots outputTokenSupply - anDola: Anchor Dola Values looks way off This is the totalSupply of the anDOLAtoken.908113024.0133958is the correct numbermarketDailySnapshots outputTokenPriceUSD - anDola: Anchor Dola Values looks way off, not close to 1USD the outputToken is anDOLAand its price is not the same as DOLA.marketDailySnapshots exchangeRate This should be <=1 there is a bug in exchangeRate calculation. Fixed in #856 marketDailySnapshots market-rates Inverse Finance UI is displaying an APY of 1.79% and this field is empty. Link - https://www.inverse.finance/frontier Fixed in #856
bye43
commented
2 years ago Thanks @tnkrxyz for the update! Looks like inverse is indexed fully, so I will give this another go.
tnkrxyz
commented
2 years ago @bye43 , no, the fix hasn't merged yet. Please wait until #856 is merged & the new version (1.2.3) is fully synced.
this-username-is-taken
commented
2 years ago This has been merged in and indexing
tnkrxyz
commented
2 years ago @bye43 the inverse finance subgraph is synced: https://subgraphs.messari.io/subgraph?endpoint=https%3A//api.thegraph.com/subgraphs/name/messari/inverse-finance-ethereum. From what I see, the issues are addressed. Can you please review & see if I missed anything? thx!
tnkrxyz
commented
2 years ago Also, I am adding notes to README about data inconsistencies: https://github.com/messari/subgraphs/pull/876. Feel free to comment here of anything you find.
You may find a lot of warning about 0 totalBorrowBalance and 0 reward token emissions on subgraph.messario.io; those I believe are correct and expected.
bye43
commented
2 years ago | Description | Value |
|---|---|
| Subgraph Reviewed | https://subgraphs.messari.io/subgraph?endpoint=https%3A//api.thegraph.com/subgraphs/name/messari/inverse-finance-ethereum |
| Date Reviewed | August 25 2022 |
| Schema Version | 1.3.0 |
| Subgraph Version | 1.2.3 |
| Methodology Version | 1.0.0 |
| Evidence Spreadsheet | https://docs.google.com/spreadsheets/d/1nsW8RaV0fSdI9bDP6VO7yNOY2QaIheG_7s2-zliQFkA/edit?usp=sharing |
| Protocol Metrics Section | Metric | Issue |
|---|---|---|
| financialsDailySnapshots | dailyProtocolSideRevenueUSD | The current dates match and trend looks good, but in 2021 it looks like we are recording a lot more revenue than the dune dashboard. This is reflected in the cumulative protocol side value, as the subgraph number is almost 100% difference |
| financialsDailySnapshots | cumulativeProtocolSideRevenueUSD | See notes about daily. Dune dashboard is outputting around 270K and subgraph is outputting around 460K. Link to dashboard - https://dune.com/queries/1014265 |
| financialsDailySnapshots | dailyTotalRevenueUSD | Same comments as protocolSideRevenueUSD |
| financialsDailySnapshots | cumulativeTotalRevenueUSD | The % difference here is much smaller because protocol side revenue is smaller than supply side revenue, but same comments as cumulative protocol side |
| financialsDailySnapshots | dailyLiquidateUSD | It looks like certain days are not reporting liquidations when they are recorded on the inverse finance liquidations table. 03/01/2022 (https://etherscan.io/tx/0xc27139d94ab89216822cd74831d5bb16cb98dea7731aa7c6001b5fdac17f8ef2/) and 02/01/2022 (https://etherscan.io/tx/0xe3940ecf00116c246006b84d07329831e29431b5154119d90a7f975bf718857a/) are outputting 0, when it looks like there are liquidations. I linked the etherscan transactions and here is the link to inverse dashboard - https://www.inverse.finance/analytics |
| financialsDailySnapshots | cumulativeLiquidateUSD | Daily is off, hence cumulative will also be |
| usageMetricsDailySnapshots | totalPoolCount | This time series looks weird and spikes up and down. Also currently reporting 0 pools, but this could be because Inverse has frozen a bunch of stuff. |
| Pool Overview Pool | Metric | Issue |
|---|---|---|
| ALL POOLS | Reward Tokens | The reward tokens look like they are outputting two different reward emissions for INV. I think there should only be one INV APR. Maybe this is a FE subgraph.xyz thing? Going to make a note though. |
| Pool Metrics Comments - I could not load any of the other pools besides DOLA, getting: "JAVASCRIPT ERROR - POOL TAB - Cannot read properties of undefined (reading 'date')". The stETH metrics are coming from what I could see on the schema. Pool | Section | Metric | Issue |
|---|---|---|---|
| Anchor Dolar(DOLA) | marketDailySnapshots | outputTokenPriceUSD - anDola: Anchor Dola | Is this calculated by TVL/outputTokenSupply? If so, the numbers match if the DOLA market TVL is the 19.49M reported on the Inverse UI. But, I think that this number is incorrect, so the actual TVL is 7.7M. Should this number be different then? |
| Anchor Dolar(DOLA) | marketDailySnapshots | exchangeRate | Same as above |
| Anchor Dolar(DOLA) | marketDailySnapshots | rewardTokenEmissionsAmount | There should be no INV rewards here, but there are three empty rewardTokenEmissionsUSD fields being output here. Not sure if that is supposed to be the case, making a note. |
| Anchor Dolar(DOLA) | marketDailySnapshots | market-rates | This looks like it is static, but it is correct for the current lender APR. I think this should be dynamic. Same comments for borrower APR. |
| Anchor Dolar(DOLA) | marketDailySnapshots | rewardAPR | This does not look wrong since I am not sure if DOLA pool ever had INV rewards, but looks like there two INV rewards in the array, so making a note (related to the pool overview note) |
| Anchor stETH | marketDailySnapshots | cumulativeLiquidateUSD | This is being reported as 0, but I think there has been very minor liquidations. Link - https://www.inverse.finance/analytics (frontier -> operations -> liquidations -> filter for anstETH only) |
tnkrxyz
commented
2 years ago Description Value Subgraph Reviewed https://subgraphs.messari.io/subgraph?endpoint=https%3A//api.thegraph.com/subgraphs/name/messari/inverse-finance-ethereum Date Reviewed August 25 2022 Schema Version 1.3.0 Subgraph Version 1.2.3 Methodology Version 1.0.0 Evidence Spreadsheet https://docs.google.com/spreadsheets/d/1nsW8RaV0fSdI9bDP6VO7yNOY2QaIheG_7s2-zliQFkA/edit?usp=sharing
Metrics To Review
Protocol Metrics
| Section | Metric | Issue | Response/Comment |
|---|---|---|---|
| financialsDailySnapshots | dailyProtocolSideRevenueUSD | The current dates match and trend looks good, but in 2021 it looks like we are recording a lot more revenue than the dune dashboard. This is reflected in the cumulative protocol side value, as the subgraph number is almost 100% difference | This is because our subgraph includes stablizer fee from the Stablizer contract (basically trading between DAI and DOLA) in the protocol side revenue. The cumulative stabilizer fee is about $200k as of 26/8/2022: https://dune.com/queries/1205358 |
| financialsDailySnapshots | cumulativeProtocolSideRevenueUSD | See notes about daily. Dune dashboard is outputting around 270K and subgraph is outputting around 460K. Link to dashboard - https://dune.com/queries/1014265 | same as above |
| financialsDailySnapshots | dailyTotalRevenueUSD | Same comments as protocolSideRevenueUSD | same as above |
| financialsDailySnapshots | cumulativeTotalRevenueUSD | The % difference here is much smaller because protocol side revenue is smaller than supply side revenue, but same comments as cumulative protocol side | same as above |
| financialsDailySnapshots | dailyLiquidateUSD | It looks like certain days are not reporting liquidations when they are recorded on the inverse finance liquidations table. 03/01/2022 (https://etherscan.io/tx/0xc27139d94ab89216822cd74831d5bb16cb98dea7731aa7c6001b5fdac17f8ef2/) and 02/01/2022 (https://etherscan.io/tx/0xe3940ecf00116c246006b84d07329831e29431b5154119d90a7f975bf718857a/) are outputting 0, when it looks like there are liquidations. I linked the etherscan transactions and here is the link to inverse dashboard - https://www.inverse.finance/analytics | Good catch! There is due to a bug introduced when fixing exchangeRate. The liquidate amount are tiny because of incorrect decimals. Fixed in #876 |
| financialsDailySnapshots | cumulativeLiquidateUSD | Daily is off, hence cumulative will also be | same as above |
| usageMetricsDailySnapshots | totalPoolCount | This time series looks weird and spikes up and down. Also currently reporting 0 pools, but this could be because Inverse has frozen a bunch of stuff. | Fixed in #876. |
Pool Overview
| Pool | Metric | Issue | Response/Comment |
|---|---|---|---|
| ALL POOLS | Reward Tokens | The reward tokens look like they are outputting two different reward emissions for INV. I think there should only be one INV APR. Maybe this is a FE subgraph.xyz thing? Going to make a note though. | The reward tokens is an array because there are separate rewards for borrowers and supplier/lender. |
Pool Metrics Comments - I could not load any of the other pools besides DOLA, getting: "JAVASCRIPT ERROR - POOL TAB - Cannot read properties of undefined (reading 'date')". The stETH metrics are coming from what I could see on the schema.
MichaelC is looking into this; hope it gets fixed soon.
| Pool | Section | Metric | Issue | Response/Comment |
|---|---|---|---|---|
| Anchor Dolar(DOLA) | marketDailySnapshots | outputTokenPriceUSD - anDola: Anchor Dola | Is this calculated by TVL/outputTokenSupply? If so, the numbers match if the DOLA market TVL is the 19.49M reported on the Inverse UI. But, I think that this number is incorrect, so the actual TVL is 7.7M. Should this number be different then? | For all markets the outputTokenPrice is derived from inputTokenPriceUSD * exchangeRate |
| Anchor Dolar(DOLA) | marketDailySnapshots | exchangeRate | Same as above | same as above |
| Anchor Dolar(DOLA) | marketDailySnapshots | rewardTokenEmissionsAmount | There should be no INV rewards here, but there are three empty rewardTokenEmissionsUSD fields being output here. Not sure if that is supposed to be the case, making a note. | I think there are two for rewardTokenEmissionsUSD, again, one each for borrower and lender |
| Anchor Dolar(DOLA) | marketDailySnapshots | market-rates | This looks like it is static, but it is correct for the current lender APR. I think this should be dynamic. Same comments for borrower APR. | This seems to be an issue of the schema. Asked on the discord server: https://discord.com/channels/953684103012683796/961658223444787220/1012879068389183508 |
| Anchor Dolar(DOLA) | marketDailySnapshots | rewardAPR | This does not look wrong since I am not sure if DOLA pool ever had INV rewards, but looks like there two INV rewards in the array, so making a note (related to the pool overview note) | the rewardTokens is an array; rewardAPR will be too. |
| Anchor stETH | marketDailySnapshots | cumulativeLiquidateUSD | This is being reported as 0, but I think there has been very minor liquidations. Link - https://www.inverse.finance/analytics (frontier -> operations -> liquidations -> filter for anstETH only) | This is due to the same bug affecting liquidation for financialsDailySnapshots. Fixed in #876 |
Thanks again for another helpful QA!
bye43
commented
2 years ago Awesome. Thanks for the explanation for the revenues and the rewards! I will check the other stuff after inverse re-indexes.
tnkrxyz
commented
2 years ago For liquidations in the anStETH market, there were stETH collaterals seized and liquidated, but in our scheme, liquidation are attributed to the market from which the asset is borrowed (for example, if a user deposit stETH and borrow DOLA, when the position is liquidate, this liquidation is attributed to the anDOLA market, not the anStETH market). This is how Dune organizes data too and there is no results from this query: https://dune.com/queries/1210374
bye43
commented
2 years ago Ahh this totally makes sense! Will mark this as fine too. Thanks again!
tnkrxyz
commented
2 years ago @bye43 , with #876 merged and inverse finance subgraph synced, it is ready for another (hopefully final) round of QA review. Please proceed when you're ready.
Please hold on, I realized I haven't really fixed totalPoolCount for daily metric. Will have to do another PR.
bye43
commented
2 years ago | Description | Value |
|---|---|
| Subgraph Reviewed | https://subgraphs.messari.io/subgraph?endpoint=https%3A//api.thegraph.com/subgraphs/name/messari/inverse-finance-ethereum |
| Date Reviewed | September 1 2022 |
| Schema Version | 1.3.0 |
| Subgraph Version | 1.2.4 |
| Methodology Version | 1.0.0 |
| Evidence Spreadsheet | https://docs.google.com/spreadsheets/d/14X00utp9dHeeXlto9RCWvm-3cOwZMPy3qRfF5q7Upno/edit?usp=sharing |
| Pool Metrics Pool | Section | Metric | Issue |
|---|---|---|---|
| Some Pools (ex. stETH) | marketDailySnapshots | All Metrics besides TVL | Not exactly sure what is going on here, but there is a warning for totalBorrowBalanceUSD being 0, all revenue metrics are 0, and reward emissions. Is this because everything is borrowed in DOLA? Even if this is DOLA related, there should be supply APY, but there is nothing. Maybe because Inverse Finance is hacked? |
bye43
commented
2 years ago Description Value Subgraph Reviewed https://subgraphs.messari.io/subgraph?endpoint=https%3A//api.thegraph.com/subgraphs/name/messari/inverse-finance-ethereum Date Reviewed September 1 2022 Schema Version 1.3.0 Subgraph Version 1.2.4 Methodology Version 1.0.0 Evidence Spreadsheet https://docs.google.com/spreadsheets/d/14X00utp9dHeeXlto9RCWvm-3cOwZMPy3qRfF5q7Upno/edit?usp=sharing Pool Metrics
Pool Section Metric Issue Some Pools (ex. stETH) marketDailySnapshots All Metrics besides TVL Not exactly sure what is going on here, but there is a warning for totalBorrowBalanceUSD being 0, all revenue metrics are 0, and reward emissions. Is this because everything is borrowed in DOLA? Even if this is DOLA related, there should be supply APY, but there is nothing. Maybe because Inverse Finance is hacked?
These pool metrics being 0 are confirmed, as there was actually no borrowing during this time period. @this-username-is-taken @tnkrxyz this is good to be frozen. Going to close the issue!
Metrics To Review