Max oi cap

markets/perps-market/contracts/storage/AsyncOrder.sol

@@ -150,6 +150,7 @@ library AsyncOrder {
         if (order.sizeDelta == 0) {
             revert ZeroSizeOrder();
         }
+
         SimulateDataRuntime memory runtime;
 
         PerpsAccount.Data storage account = PerpsAccount.load(order.accountId);
@@ -199,7 +200,22 @@ library AsyncOrder {
         // TODO: validate position size
         oldPosition = PerpsMarket.load(order.marketId).positions[order.accountId];
 
+        if (
+            PerpsMarket.validatePositionSize(
+                perpsMarketData,
+                marketConfig.maxMarketValue,
+                oldPosition.size,
+                order.sizeDelta
+            )
+        ) {
+            revert PerpsMarketConfiguration.MaxOpenInterestReached(
+                order.marketId,
+                marketConfig.maxMarketValue
+            );
+        }
+
         runtime.newPositionSize = oldPosition.size + order.sizeDelta.to128();
+
         (, , runtime.initialRequiredMargin, , ) = marketConfig.calculateRequiredMargins(
             runtime.newPositionSize,
             runtime.fillPrice

markets/perps-market/contracts/storage/PerpsMarketConfiguration.sol

@@ -12,6 +12,8 @@ library PerpsMarketConfiguration {
     using DecimalMath for uint256;
     using SafeCastI128 for int128;
 
+    error MaxOpenInterestReached(uint128 marketId, uint256 maxMarketValue);
+
     struct Data {
         OrderFee.Data orderFees;
         SettlementStrategy.Data[] settlementStrategies;

markets/perps-market/test/integration/Account/ModifyCollateral.withdraw.test.ts

@@ -132,6 +132,7 @@ describe('ModifyCollateral Withdraw', () => {
           maxLiquidationLimitAccumulationMultiplier: bn(1),
           liquidationRewardRatio: bn(0.05),
         },
+        maxMarketValue: bn(9999999999),
         settlementStrategy: {
           settlementReward: bn(0),
         },
@@ -147,6 +148,7 @@ describe('ModifyCollateral Withdraw', () => {
           maxLiquidationLimitAccumulationMultiplier: bn(1),
           liquidationRewardRatio: bn(0.05),
         },
+        maxMarketValue: bn(9999999999),
         settlementStrategy: {
           settlementReward: bn(0),
         },

markets/perps-market/test/integration/Liquidation/Liquidation.margin.test.ts

@@ -16,6 +16,7 @@ describe('Liquidation - margin', async () => {
         maxLiquidationLimitAccumulationMultiplier: bn(1),
         liquidationRewardRatio: bn(0.05),
       },
+      maxMarketValue: bn(9999999),
       settlementStrategy: {
         settlementReward: bn(0),
       },
@@ -31,6 +32,7 @@ describe('Liquidation - margin', async () => {
         maxLiquidationLimitAccumulationMultiplier: bn(1),
         liquidationRewardRatio: bn(0.05),
       },
+      maxMarketValue: bn(9999999),
       settlementStrategy: {
         settlementReward: bn(0),
       },
@@ -46,6 +48,7 @@ describe('Liquidation - margin', async () => {
         maxLiquidationLimitAccumulationMultiplier: bn(1),
         liquidationRewardRatio: bn(0.05),
       },
+      maxMarketValue: bn(9999999),
       settlementStrategy: {
         settlementReward: bn(0),
       },
@@ -61,6 +64,7 @@ describe('Liquidation - margin', async () => {
         maxLiquidationLimitAccumulationMultiplier: bn(1),
         liquidationRewardRatio: bn(0.05),
       },
+      maxMarketValue: bn(9999999),
       settlementStrategy: {
         settlementReward: bn(0),
       },
@@ -76,6 +80,7 @@ describe('Liquidation - margin', async () => {
         maxLiquidationLimitAccumulationMultiplier: bn(1),
         liquidationRewardRatio: bn(0.05),
       },
+      maxMarketValue: bn(9999999),
       settlementStrategy: {
         settlementReward: bn(0),
       },

markets/perps-market/test/integration/Market/CreateMarket.test.ts

@@ -74,6 +74,22 @@ describe('Create Market test', () => {
         );
       });
     });
+
+    describe('after market is created', () => {
+      before('set max market value', async () => {
+        tx = await systems()
+          .PerpsMarket.connect(marketOwner)
+          .setMaxMarketValue(marketId, bn(99999999));
+      });
+
+      it('should emit MaxMarketValueSet event', async () => {
+        await assertEvent(
+          tx,
+          `MaxMarketValueSet(${marketId}, ${bn(99999999).toString()})`,
+          systems().PerpsMarket
+        );
+      });
+    });
   });
 
   describe('change ownership', async () => {
@@ -178,6 +194,10 @@ describe('Create Market test', () => {
       await systems().PerpsMarket.createMarket(name, token, marketOwner.getAddress());
     });
 
+    before('set max market value', async () => {
+      await systems().PerpsMarket.connect(marketOwner).setMaxMarketValue(marketId, bn(99999999));
+    });
+
     before('create price nodes', async () => {
       const results = await createOracleNode(owner(), price, systems().OracleManager);
       oracleNodeId = results.oracleNodeId;
@@ -255,7 +275,7 @@ describe('Create Market test', () => {
         await systems().PerpsMarket.connect(trader1()).modifyCollateral(2, 0, bn(10_000));
       });
 
-      it('sohuld be able to use the market', async () => {
+      it('should be able to use the market', async () => {
         await systems()
           .PerpsMarket.connect(marketOwner)
           .commitOrder({

markets/perps-market/test/integration/Market/Size.test.ts

@@ -11,6 +11,7 @@ describe('Market - size test', () => {
         name: 'Ether',
         token: 'snxETH',
         price: bn(2000),
+        maxMarketValue: bn(9999999),
       },
     ],
     traderAccountIds: [2, 3],

markets/perps-market/test/integration/Orders/OffchainAsyncOrder.cancel.test.ts

@@ -15,6 +15,7 @@ describe('Cancel Offchain Async Order test', () => {
         token: 'snxETH',
         price: bn(1000),
         fundingParams: { skewScale: bn(100_000), maxFundingVelocity: bn(0) },
+        maxMarketValue: bn(9999999),
       },
     ],
     traderAccountIds: [2, 3],

markets/perps-market/test/integration/Orders/OffchainAsyncOrder.commit.test.ts

@@ -26,6 +26,7 @@ describe('Commit Offchain Async Order test', () => {
         token: 'snxETH',
         price: bn(1000),
         fundingParams: { skewScale: bn(100_000), maxFundingVelocity: bn(0) },
+        maxMarketValue: bn(5000),
       },
     ],
     traderAccountIds: [2, 3],
@@ -86,6 +87,28 @@ describe('Commit Offchain Async Order test', () => {
         'InsufficientMargin'
       );
     });
+
+    it('reverts if max market value is reached', async () => {
+      await depositCollateral({
+        accountId: () => 2,
+        collaterals: [{ snxUSDAmount: () => bn(100_000) }],
+        systems,
+        trader: trader1,
+      });
+      await assertRevert(
+        systems()
+          .PerpsMarket.connect(trader1())
+          .commitOrder({
+            marketId: ethMarketId,
+            accountId: 2,
+            sizeDelta: bn(90_000),
+            settlementStrategyId: 0,
+            acceptablePrice: bn(1450), // 5% slippage
+            trackingCode: ethers.constants.HashZero,
+          }),
+        `MaxOpenInterestReached(${ethMarketId}, ${bn(5000).toString()})`
+      );
+    });
   });
 
   const restoreToCommit = snapshotCheckpoint(provider);

markets/perps-market/test/integration/Orders/OffchainAsyncOrder.price.test.ts

@@ -16,6 +16,7 @@ describe('Offchain Async Order - Price tests', () => {
         token: 'snxETH',
         price: bn(1000),
         fundingParams: { skewScale: bn(100_000), maxFundingVelocity: bn(0) },
+        maxMarketValue: bn(999999),
       },
     ],
     traderAccountIds: [2, 3],

markets/perps-market/test/integration/Orders/OffchainAsyncOrder.settle.test.ts

@@ -25,6 +25,7 @@ describe('Settle Offchain Async Order test', () => {
         token: 'snxETH',
         price: bn(1000),
         fundingParams: { skewScale: bn(100_000), maxFundingVelocity: bn(0) },
+        maxMarketValue: bn(9999999),
       },
     ],
     traderAccountIds: [2, 3],

markets/perps-market/test/integration/Position/Funding.test.ts

@@ -14,6 +14,7 @@ describe('Position - funding', () => {
         token: 'snxETH',
         price: bn(2000),
         fundingParams: { skewScale: bn(10_000), maxFundingVelocity: bn(3) },
+        maxMarketValue: bn(999999999999999),
       },
     ],
     traderAccountIds: [2, 3],