Regen Ledger Documentation

Msg/Sell

A sell order can be created: - when the credit batch exists - when the seller owns credits from the credit batch - when the seller owns greater than or equal to the quantity of credits - when the number of decimal places in quantity is less than or equal to the credit type precision - when the ask denom is an allowed denom - when the expiration is after the block time - the market is created when the credit type and bank denom pair is unique - the tradable credits are converted to escrowed credits - the sell orders are stored in state - the response includes the sell order ids

The credit batch must exist

Background

Given a credit type

And an allowed denom.

credit batch exists

Given alice has a tradable batch balance with denom "C01-001-20200101-20210101-001"

When alice attempts to create a sell order with batch denom "C01-001-20200101-20210101-001"

Then expect no error.

credit batch does not exist

When alice attempts to create a sell order with batch denom "C01-001-20200101-20210101-001"

Then expect the error "orders[0]: batch denom C01-001-20200101-20210101-001: not found: invalid request".

The seller must own credits from the credit batch

Background

Given a credit type

And an allowed denom.

seller owns credits

Given alice has a tradable batch balance with denom "C01-001-20200101-20210101-001"

When alice attempts to create a sell order with batch denom "C01-001-20200101-20210101-001"

Then expect no error.

seller does not own credits

Given a credit batch with batch denom "C01-001-20200101-20210101-001"

When alice attempts to create a sell order with batch denom "C01-001-20200101-20210101-001"

Then expect the error "orders[0]: credit quantity: 100, tradable balance: 0: insufficient credit balance".

The seller must own greater than or equal to the quantity of credits

Background

Given a credit type

And an allowed denom.

seller owns greater than or equal to credit quantity (single sell order)

Given alice has a tradable batch balance with amount "100"

When alice attempts to create a sell order with credit quantity "[quantity]"

Then expect no error.

Examples

descriptionquantity
greater than50
equal to100

seller owns greater than or equal to credit quantity (multiple sell orders)

Given alice has a tradable batch balance with amount "200"

When alice attempts to create two sell orders each with credit quantity "[quantity]"

Then expect no error.

Examples

descriptionquantity
greater than50
equal to100

seller owns less than credit quantity (single sell order)

Given alice has a tradable batch balance with amount "50"

When alice attempts to create a sell order with credit quantity "100"

Then expect the error "orders[0]: credit quantity: 100, tradable balance: 50: insufficient credit balance".

seller owns less than credit quantity (multiple sell orders)

Given alice has a tradable batch balance with amount "150"

When alice attempts to create two sell orders each with credit quantity "100"

Then expect the error "orders[1]: credit quantity: 100, tradable balance: 50: insufficient credit balance".

The number of decimal places in quantity must be less than or equal to the credit type precision

Background

Given a credit type with precision "6"

And an allowed denom

And alice has a tradable batch balance with amount "100".

quantity decimal places less than or equal to precision

When alice attempts to create a sell order with credit quantity "[quantity]"

Then expect no error.

Examples

descriptionquantity
less than99.12345
equal to99.123456

quantity decimal places more than precision

When alice attempts to create a sell order with credit quantity "99.1234567"

Then expect the error "99.1234567 exceeds maximum decimal places: 6".

The ask denom must be an allowed denom

Background

Given a credit type

And alice has a tradable batch balance.

ask denom is allowed

Given an allowed denom with bank denom "regen"

When alice attempts to create a sell order with ask price "100regen"

Then expect no error.

ask denom is not allowed

Given an allowed denom with bank denom "atom"

When alice attempts to create a sell order with ask price "100regen"

Then expect the error "orders[0]: regen is not allowed to be used in sell orders: invalid request".

The expiration must be after the block time

Background

Given a block time with timestamp "2020-01-01"

And a credit type

And an allowed denom

And alice has a tradable batch balance.

expiration is after block time

When alice attempts to create a sell order with expiration "2021-01-01"

Then expect no error.

expiration is before or equal to block time

When alice attempts to create a sell order with expiration "[expiration]"

Then expect the error "orders[0]: expiration must be in the future: [expiration] 00:00:00 +0000 UTC: invalid request".

Examples

descriptionexpiration
before2019-01-01
equal to2020-01-01

The market is created when the credit type and bank denom pair is unique

Background

Given a credit type

And an allowed denom with bank denom "regen"

And alice has a tradable batch balance with denom "C01-001-20200101-20210101-001".

credit type and bank denom pair is unique

When alice attempts to create a sell order with batch denom "C01-001-20200101-20210101-001" and ask denom "regen"

Then expect market with id "1" and denom "regen".

credit type and bank denom pair is not unique

Given a market with credit type "C" and bank denom "regen"

When alice attempts to create a sell order with batch denom "C01-001-20200101-20210101-001" and ask denom "regen"

Then expect no market with id "2".

The tradable credits are converted to escrowed credits

Background

Given a credit type

And an allowed denom

And alice has a tradable batch balance with amount "100".

the credits are escrowed

When alice attempts to create a sell order with credit quantity "100"

Then expect alice tradable credit balance "0"

And expect alice escrowed credit balance "100".

The sell orders are stored in state

Background

Given a credit type with abbreviation "C"

And an allowed denom with bank denom "regen".

the sell order is stored in state (single sell order)

Given alice has a tradable batch balance with denom "C01-001-20200101-20210101-001" and amount "10"

When alice attempts to create a sell order with the properties

{
  "batch_denom": "C01-001-20200101-20210101-001",
  "quantity": "10",
  "ask_price": {
    "denom": "regen",
    "amount": "10"
  },
  "disable_auto_retire": true,
  "expiration": "2030-01-01T00:00:00Z"
}

Then expect sell order with seller alice and the properties

{
  "id": 1,
  "ask_amount": "10",
  "expiration": "2030-01-01T00:00:00Z",
  "batch_key": 1,
  "quantity": "10",
  "disable_auto_retire": true,
  "market_id": 1,
  "maker": true
}

the sell order is stored in state (multiple sell orders)

Given alice has a tradable batch balance with denom "C01-001-20200101-20210101-001" and amount "20"

When alice attempts to create two sell orders each with the properties

{
  "batch_denom": "C01-001-20200101-20210101-001",
  "quantity": "10",
  "ask_price": {
    "denom": "regen",
    "amount": "10"
  },
  "disable_auto_retire": true,
  "expiration": "2030-01-01T00:00:00Z"
}

Then expect sell order with seller alice and the properties

{
  "id": 2,
  "ask_amount": "10",
  "expiration": "2030-01-01T00:00:00Z",
  "batch_key": 1,
  "quantity": "10",
  "disable_auto_retire": true,
  "market_id": 1,
  "maker": true
}

The response includes the sell order ids

Background

Given a credit type

And an allowed denom

And alice has a tradable batch balance.

the response includes sell order ids

When alice attempts to create two sell orders

Then expect the response

{
  "sell_order_ids": [1,2]
}

Event is emitted

Background

Given a credit type

And an allowed denom.

EventSell is emitted

Given alice has a tradable batch balance with denom "C01-001-20200101-20210101-001"

When alice attempts to create a sell order with batch denom "C01-001-20200101-20210101-001"

Then expect event with properties

{
  "sell_order_id": 1
}