code.vegaprotocol.io/vega@v0.79.0/core/integration/features/verified/0042-LIQF-fees_rewards_VirtualStake.feature

Feature: Test liquidity provider reward distribution; Should also cover liquidity-fee-setting and equity-like-share calc and total stake.
  # to look into and test: If an equity-like share is small and LP rewards are distributed immediately, then how do we round? (does a small share get rounded up or down, do they all add up?)
  #Check what happens with time and distribution period (both in genesis and mid-market)

  Background:

    Given the simple risk model named "simple-risk-model-1":
      | long | short | max move up | min move down | probability of trading |
      | 0.1  | 0.1   | 500         | 500           | 0.1                    |
    And the fees configuration named "fees-config-1":
      | maker fee | infrastructure fee |
      | 0.0004    | 0.001              |
    And the price monitoring named "price-monitoring":
      | horizon | probability | auction extension |
      | 3600 | 0.99 | 3 |
    And the following network parameters are set:
      | name                                                | value |
      | market.value.windowLength                           | 1h    |
      | network.markPriceUpdateMaximumFrequency             | 0s    |
      | limits.markets.maxPeggedOrders                      | 12    |
    Given the liquidity monitoring parameters:
      | name               | triggering ratio | time window | scaling factor |
      | lqm-params         | 0.0              | 24h         | 1.0            |
    
    And the liquidity sla params named "SLA":
      | price range | commitment min time fraction | performance hysteresis epochs | sla competition factor |
      | 1.0         | 0.5                          | 1                             | 1.0                    |
    And the markets:
      | id        | quote name | asset | liquidity monitoring | risk model          | margin calculator         | auction duration | fees          | price monitoring | data source config     | linear slippage factor | quadratic slippage factor | sla params |
      | ETH/MAR22 | USD        | USD   | lqm-params           | simple-risk-model-1 | default-margin-calculator | 2                | fees-config-1 | price-monitoring | default-eth-for-future | 0.2                    | 0                         | SLA        |
    And the following network parameters are set:
      | name                                                | value |
      | market.liquidity.providersFeeCalculationTimeStep  | 600s  |

    # block duration of 2 seconds
    And the average block duration is "2"

  @VirtStake
  Scenario: 001 1 LP joining at start, checking liquidity rewards over 3 periods, 1 period with no trades (0042-LIQF-001)
    # setup accounts
    Given the parties deposit on asset's general account the following amount:
      | party  | asset | amount     |
      | lp1    | USD   | 1000000000 |
      | party1 | USD   | 100000000  |
      | party2 | USD   | 100000000  |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type    |
      | lp1 | lp1   | ETH/MAR22 | 10000             | 0.001 | submission |
      | lp1 | lp1   | ETH/MAR22 | 10000             | 0.001 | amendment  |
      | lp1 | lp1   | ETH/MAR22 | 10000             | 0.001 | amendment  |
      | lp1 | lp1   | ETH/MAR22 | 10000             | 0.001 | amendment  |
    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp1 | ETH/MAR22 | 12 | 1 | buy  | BID | 12 | 2 |
      | lp1 | ETH/MAR22 | 12 | 1 | buy  | MID | 12 | 1 |
      | lp1 | ETH/MAR22 | 12 | 1 | sell | ASK | 12 | 2 |
      | lp1 | ETH/MAR22 | 12 | 1 | sell | MID | 12 | 1 |

    When the parties place the following orders:
      | party | market id | side | volume | price | resulting trades | type | tif |
      | party1 | ETH/MAR22 | buy  | 1  | 900  | 0 | TYPE_LIMIT | TIF_GTC |
      | party1 | ETH/MAR22 | buy  | 10 | 1000 | 0 | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 1  | 1100 | 0 | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 10 | 1000 | 0 | TYPE_LIMIT | TIF_GTC |

    Then the opening auction period ends for market "ETH/MAR22"

    And the following trades should be executed:
      | buyer  | price | size | seller |
      | party1 | 1000  | 10   | party2 |

    And the market data for the market "ETH/MAR22" should be:
      | mark price | trading mode | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1000 | TRADING_MODE_CONTINUOUS | 3600 | 500 | 1500 | 1000 | 10000 | 10 |

    And the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1   | 1                 | 10000                   |

    And the liquidity fee factor should be "0.001" for the market "ETH/MAR22"

    # No fees in auction
    And the accumulated liquidity fees should be "0" for the market "ETH/MAR22"

    When the network moves ahead "1" blocks

    And the parties place the following orders with ticks:
      | party  | market id | side | volume | price | resulting trades | type       | tif     | reference   |
      | party1 | ETH/MAR22 | sell | 20     | 1000  | 0                | TYPE_LIMIT | TIF_GTC | party1-sell |
      | party2 | ETH/MAR22 | buy | 20 | 1000 | 2 | TYPE_LIMIT | TIF_GTC | party2-buy |

    Then the following trades should be executed:
      | buyer | price | size | seller |
      | party2 | 951  | 12 | lp1    |
      | party2 | 1000 | 8  | party1 |

    And the parties should have the following account balances:
      | party | asset | market id | margin | general | bond |
      | lp1    | USD | ETH/MAR22 | 5760 | 999983657 | 10000 |

    And the accumulated liquidity fees should be "20" for the market "ETH/MAR22"


    # Trigger distribution of liquidity fees
    When the network moves ahead "301" blocks

    And the accumulated liquidity fees should be "0" for the market "ETH/MAR22"


    # Move to new block
    When the network moves ahead "301" blocks

    And the parties place the following orders:
      | party | market id | side | volume | price | resulting trades | type | tif | reference |
      | party2 | ETH/MAR22 | buy  | 40 | 1100 | 2 | TYPE_LIMIT | TIF_GTC | party1-buy  |
      | party2 | ETH/MAR22 | sell | 40 | 1100 | 0 | TYPE_LIMIT | TIF_GTC | party2-sell |

    Then the following trades should be executed:
      | buyer | price | size | seller |
      | party2 | 1002 | 12 | lp1 |

    And the accumulated liquidity fees should be "25" for the market "ETH/MAR22"

    # Trigger distribution of liquidity fees
    When the network moves ahead "301" blocks
    And the accumulated liquidity fees should be "0" for the market "ETH/MAR22"

  @VirtStake
  Scenario: 002 2 LPs joining at start, equal commitments (0042-LIQF-002)

    Given the parties deposit on asset's general account the following amount:
      | party  | asset | amount     |
      | lp1    | USD   | 1000000000 |
      | lp2    | USD   | 1000000000 |
      | party1 | USD   | 100000000  |
      | party2 | USD   | 100000000  |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type    |
      | lp1 | lp1   | ETH/MAR22 | 5000              | 0.001 | submission |
      | lp1 | lp1   | ETH/MAR22 | 5000              | 0.001 | amendment  |
      | lp1 | lp1   | ETH/MAR22 | 5000              | 0.001 | amendment  |
      | lp1 | lp1   | ETH/MAR22 | 5000              | 0.001 | amendment  |
    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp1   | ETH/MAR22 | 12        | 1                    | buy  | BID              | 12     | 2      |
      | lp1   | ETH/MAR22 | 12        | 1                    | buy  | MID              | 12     | 1      |
      | lp1   | ETH/MAR22 | 12        | 1                    | sell | ASK              | 12     | 2      |
      | lp1   | ETH/MAR22 | 12        | 1                    | sell | MID              | 12     | 1      |
    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type    |
      | lp2 | lp2   | ETH/MAR22 | 5000              | 0.002 | submission |
      | lp2 | lp2   | ETH/MAR22 | 5000              | 0.002 | amendment  |
      | lp2 | lp2   | ETH/MAR22 | 5000              | 0.002 | amendment  |
      | lp2 | lp2   | ETH/MAR22 | 5000              | 0.002 | amendment  |
    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp2   | ETH/MAR22 | 12        | 1                    | buy  | BID              | 12     | 2      |
      | lp2   | ETH/MAR22 | 12        | 1                    | buy  | MID              | 12     | 1      |
      | lp2   | ETH/MAR22 | 12        | 1                    | sell | ASK              | 12     | 2      |
      | lp2   | ETH/MAR22 | 12        | 1                    | sell | MID              | 12     | 1      |

    When the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | buy  | 1      | 900   | 0                | TYPE_LIMIT | TIF_GTC |
      | party1 | ETH/MAR22 | buy  | 90     | 1000  | 0                | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 1      | 1100  | 0                | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 90     | 1000  | 0                | TYPE_LIMIT | TIF_GTC |

    Then the opening auction period ends for market "ETH/MAR22"

    And the following trades should be executed:
      | buyer  | price | size | seller |
      | party1 | 1000  | 90   | party2 |

    And the market data for the market "ETH/MAR22" should be:
      | mark price | trading mode            | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1000       | TRADING_MODE_CONTINUOUS | 3600    | 500       | 1500      | 9000         | 10000          | 90            |

    And the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1   | 0.5               | 5000                    |
      | lp2   | 0.5               | 10000                   |

    And the liquidity fee factor should be "0.002" for the market "ETH/MAR22"

    # No fees in auction
    And the accumulated liquidity fees should be "0" for the market "ETH/MAR22"

    When the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     | reference   |
      | party1 | ETH/MAR22 | sell | 20     | 1000  | 0                | TYPE_LIMIT | TIF_GTC | party1-sell |
      | party2 | ETH/MAR22 | buy | 20 | 1000 | 2 | TYPE_LIMIT | TIF_GTC | party2-buy |
    When the network moves ahead "1" blocks

    And the accumulated liquidity fees should be "39" for the market "ETH/MAR22"

    # Trigger fee distribution
    When the network moves ahead "301" blocks

    And the accumulated liquidity fees should be "1" for the market "ETH/MAR22"

    When the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     | reference   |
      | party1 | ETH/MAR22 | buy  | 40     | 1100  | 1                | TYPE_LIMIT | TIF_GTC | party1-buy  |
      | party2 | ETH/MAR22 | sell | 40     | 1100  | 0                | TYPE_LIMIT | TIF_GTC | party2-sell |
    When the network moves ahead "1" blocks

    And the accumulated liquidity fees should be "9" for the market "ETH/MAR22"

    # Trigger fee distribution
    When the network moves ahead "301" blocks
    And the accumulated liquidity fees should be "1" for the market "ETH/MAR22"

  @FeeRound
  Scenario: 003 2 LPs joining at start, unequal commitments. Checking calculation of equity-like-shares and liquidity-fee-distribution in a shrinking market. (0042-LIQF-008 0042-LIQF-011)

# Scenario has 6 market periods:

# - 0th period (bootstrap period): no LP changes, no trades
# - 1st period: 1 LPs decrease commitment, some trades occur
# - 2nd period: 1 LPs increase commitment, some trades occur
# - 3rd period: 2 LPs decrease commitment, some trades occur
# - 4th period: 2 LPs increase commitment, some trades occur
# - 5th period: 1 LPs decrease commitment, 1 LPs increase commitment, some trades occur


# Scenario moves ahead to next market period by:

# - moving ahead "1" blocks to trigger the next liquidity distribution
# - moving ahead "1" blocks to trigger the next market period


# Following checks occur in each market where trades:

# - Check transfers from the price taker to the market-liquidity-pool are correct
# - Check accumulated-liquidity-fees are non-zero and correct
# - Check equity-like-shares are correct
# - Check transfers from the market-liquidity-pool to the liquidity-providers are correct
# - Check accumulated-liquidity-fees are zero

    Given the average block duration is "1801"

    And the parties deposit on asset's general account the following amount:
      | party  | asset | amount |
      | lp1    | USD   | 100000 |
      | lp2    | USD   | 100000 |
      | party1 | USD   | 100000 |
      | party2 | USD   | 100000 |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type    |
      | lp1 | lp1   | ETH/MAR22 | 4000              | 0.001 | submission |

    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp1   | ETH/MAR22 | 2         | 1                    | buy  | BID              | 1      | 2      |
      | lp1   | ETH/MAR22 | 2         | 1                    | buy  | MID              | 3      | 1      |
      | lp1   | ETH/MAR22 | 2         | 1                    | sell | ASK              | 1      | 2      |
      | lp1   | ETH/MAR22 | 2         | 1                    | sell | MID              | 3      | 1      |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type    |
      | lp2 | lp2   | ETH/MAR22 | 6000              | 0.002 | submission |

    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp2   | ETH/MAR22 | 2         | 1                    | buy  | BID              | 1      | 2      |
      | lp2   | ETH/MAR22 | 2         | 1                    | buy  | MID              | 3      | 1      |
      | lp2   | ETH/MAR22 | 2         | 1                    | sell | ASK              | 1      | 2      |
      | lp2   | ETH/MAR22 | 2         | 1                    | sell | MID              | 3      | 1      |

    And the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | buy  | 1      | 900   | 0                | TYPE_LIMIT | TIF_GTC |
      | party1 | ETH/MAR22 | buy  | 50     | 1000  | 0                | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 1      | 1100  | 0                | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 50     | 1000  | 0                | TYPE_LIMIT | TIF_GTC |

    # 0th period (bootstrap period): no LP changes, no trades
    Then the opening auction period ends for market "ETH/MAR22"

    And the following trades should be executed:
      | buyer  | price | size | seller |
      | party1 | 1000  | 50   | party2 |

    And the market data for the market "ETH/MAR22" should be:
      | mark price | trading mode            | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1000 | TRADING_MODE_CONTINUOUS | 3600 | 500 | 1500 | 5000 | 10000 | 50 |

    And the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1   | 0.4               | 4000                    |
      | lp2   | 0.6               | 10000                   |

    And the accumulated liquidity fees should be "0" for the market "ETH/MAR22"


    # 1st period: 1 LPs decrease commitment, some trades occur:
    When the network moves ahead "2" blocks:

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp1 | lp1   | ETH/MAR22 | 3000              | 0.001 | amendment |

    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp1   | ETH/MAR22 | 2         | 1                    | buy  | BID              | 1      | 2      |
      | lp1   | ETH/MAR22 | 2         | 1                    | sell | ASK              | 1      | 2      |

    And the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | buy  | 2      | 1001  | 1                | TYPE_LIMIT | TIF_GTC |

# liquidity_fee = ceil(volume * price * liquidity_fee_factor) =  ceil(1001 * 2 * 0.002) = ceil(4.004) = 5

    And the following transfers should happen:
      | from   | to     | from account         | to account                  | market id | amount | asset |
      | party1 | market | ACCOUNT_TYPE_GENERAL | ACCOUNT_TYPE_FEES_LIQUIDITY | ETH/MAR22 | 5      | USD   |

    And the accumulated liquidity fees should be "5" for the market "ETH/MAR22"

    And the market data for the market "ETH/MAR22" should be:
      | mark price | last traded price | trading mode            | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1000 | 1001 | TRADING_MODE_CONTINUOUS | 3600 | 500 | 1500 | 5200 | 10000 | 52 |

    # Trigger next liquidity fee distribution without triggering next period
    When the network moves ahead "1" blocks:

    Then the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share  | average entry valuation |
      | lp1 | 0.4 | 4000  |
      | lp2 | 0.6 | 10000 |

    And the accumulated liquidity fees should be "0" for the market "ETH/MAR22"

    # 2nd period: 1 LPs increase commitment, some trades occur
    When the network moves ahead "1" blocks:

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp1 | lp1   | ETH/MAR22 | 4000              | 0.001 | amendment |

    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp1   | ETH/MAR22 | 2         | 1                    | buy  | BID              | 1      | 2      |
      | lp1   | ETH/MAR22 | 2         | 1                    | sell | ASK              | 1      | 2      |

    And the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | buy  | 2      | 1001  | 1                | TYPE_LIMIT | TIF_GTC |

#liquidity_fee = ceil(volume * price * liquidity_fee_factor) =  ceil(1001 * 2 * 0.002) = ceil(4.004) = 5

    And the accumulated liquidity fees should be "5" for the market "ETH/MAR22"

    And the market data for the market "ETH/MAR22" should be:
      | mark price | trading mode            | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1001 | TRADING_MODE_CONTINUOUS | 3600 | 502 | 1500 | 5405 | 10000 | 54 |

    # Trigger next liquidity fee distribution without triggering next period
    When the network moves ahead "1" blocks:

    Then the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1 | 0.3333333333333333 | 4000  |
      | lp2 | 0.6666666666666667 | 10000 |

    And the accumulated liquidity fees should be "1" for the market "ETH/MAR22"


    # 3rd period: 2 LPs decrease commitment, some trades occur
    When the network moves ahead "1" blocks:

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp1 | lp1   | ETH/MAR22 | 3000              | 0.001 | amendment |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp2 | lp2   | ETH/MAR22 | 5000              | 0.002 | amendment |

    When the network moves ahead "1" blocks:

    And the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | buy | 3 | 1001 | 2 | TYPE_LIMIT | TIF_GTC |

# liquidity_fee = ceil(volume * price * liquidity_fee_factor) =  ceil(1001 * 3 * 0.002) = ceil(6.006) = 7

    And the accumulated liquidity fees should be "7" for the market "ETH/MAR22"

    And the market data for the market "ETH/MAR22" should be:
      | mark price | trading mode            | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1001 | TRADING_MODE_CONTINUOUS | 3600 | 502 | 1500 | 5605 | 10000 | 56 |

    # Trigger next liquidity fee distribution without triggering next period
    When the network moves ahead "1" blocks:

    Then the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1   | 0.375             | 5500                    |
      | lp2   | 0.625             | 10000                   |

    And the accumulated liquidity fees should be "1" for the market "ETH/MAR22"

    # 4nd period: 2 LPs increase commitment, some trades occur
    When the network moves ahead "2" blocks:

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp1 | lp1   | ETH/MAR22 | 4000              | 0.001 | amendment |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp2 | lp2 | ETH/MAR22 | 6000 | 0.002 | amendment |

    And the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | sell | 4 | 1001 | 2 | TYPE_LIMIT | TIF_GTC |

#liquidity_fee = ceil(volume * price * liquidity_fee_factor) =  ceil(1001 * 3 * 0.002) + ceil(1001 * 1 * 0.002) = ceil(6.006) + ceil(2.002)= 10

    And the accumulated liquidity fees should be "11" for the market "ETH/MAR22"

    And the market data for the market "ETH/MAR22" should be:
      | mark price | trading mode            | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1001 | TRADING_MODE_CONTINUOUS | 3600 | 502 | 1500 | 5605 | 10000 | 52 |

    # Trigger next liquidity fee distribution without triggering next period
    When the network moves ahead "1" blocks:

    Then the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1 | 0.375 | 5500  |
      | lp2 | 0.625 | 10000 |

    And the accumulated liquidity fees should be "1" for the market "ETH/MAR22"

    # 5th period: 1 LPs decrease commitment 1 LPs increase commitment, some trades occur
    When the network moves ahead "1" blocks:

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp1 | lp1 | ETH/MAR22 | 8000 | 0.001 | amendment |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type   |
      | lp2 | lp2   | ETH/MAR22 | 7000              | 0.002 | amendment |

    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp1   | ETH/MAR22 | 2         | 1                    | buy  | BID              | 10     | 10     |
      | lp1   | ETH/MAR22 | 2         | 1                    | sell | MID              | 10     | 10     |
    When the network moves ahead "1" blocks:

    And the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | sell | 2 | 1001 | 2 | TYPE_LIMIT | TIF_GTC |

# liquidity_fee = ceil(volume * price * liquidity_fee_factor) =  ceil(1001 * 3 * 0.002) + ceil(1001 * 2 * 0.002) = ceil(6.006) + ceil(4.004)= 12

    And the accumulated liquidity fees should be "7" for the market "ETH/MAR22"

    And the market data for the market "ETH/MAR22" should be:
      | mark price | trading mode            | horizon | min bound | max bound | target stake | supplied stake | open interest |
      | 1050 | TRADING_MODE_CONTINUOUS | 3600 | 550 | 1550 | 5880 | 15000 | 50 |

    # Trigger next liquidity fee distribution without triggering next period
    When the network moves ahead "10" blocks:

    Then the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1 | 0.5333333333333333 | 10187.5                |
      | lp2 | 0.4666666666666667 | 10714.2857142857142857 |

    And the accumulated liquidity fees should be "1" for the market "ETH/MAR22"

  @FeeRound @Liquidation
  Scenario: 004 2 LPs joining at start, 1 LP forcibly closed out (0042-LIQF-008)

    Given the average block duration is "601"

    When the parties deposit on asset's general account the following amount:
      | party  | asset | amount   |
      | lp1    | USD   | 10000    |
      | lp2    | USD   | 10000000 |
      | party1 | USD   | 10000000 |
      | party2 | USD   | 10000000 |

    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type    |
      | lp1 | lp1 | ETH/MAR22 | 1000 | 0.001 | submission |
    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp1   | ETH/MAR22 | 2         | 1                    | buy  | BID              | 1      | 51     |
      | lp1   | ETH/MAR22 | 2         | 1                    | sell | ASK              | 1      | 51     |
    And the parties submit the following liquidity provision:
      | id  | party | market id | commitment amount | fee   | lp type    |
      | lp2 | lp2 | ETH/MAR22 | 9000 | 0.002 | submission |
    And the parties place the following pegged iceberg orders:
      | party | market id | peak size | minimum visible size | side | pegged reference | volume | offset |
      | lp2   | ETH/MAR22 | 2         | 1                    | buy  | BID              | 1      | 51     |
      | lp2   | ETH/MAR22 | 2         | 1                    | sell | ASK              | 1      | 51     |
    And the parties place the following orders:
      | party  | market id | side | volume | price | resulting trades | type       | tif     | reference |
      | party1 | ETH/MAR22 | buy  | 1      | 900   | 0                | TYPE_LIMIT | TIF_GTC | pa1-b1    |
      | party1 | ETH/MAR22 | buy  | 15     | 950   | 0                | TYPE_LIMIT | TIF_GTC | pa1-b2    |
      | party2 | ETH/MAR22 | sell | 1      | 1100  | 0                | TYPE_LIMIT | TIF_GTC | pa2-s1    |
      | lp1    | ETH/MAR22 | sell | 15     | 950   | 0                | TYPE_LIMIT | TIF_GTC | lp1-s1    |

    Then the opening auction period ends for market "ETH/MAR22"

    Then the parties should have the following account balances:
      | party | asset | market id | margin | general | bond |
      | lp1   | USD   | ETH/MAR22 | 5244   | 3756    | 1000 |

    # 1st set of trades: market moves against lp1s position, margin-insufficient, margin topped up from general and bond
    When the network moves ahead "1" blocks:

    And the parties amend the following orders:
      | party  | reference | price | size delta | tif     |
      | party1 | pa1-b1    | 1050  | 0          | TIF_GTC |
      | party2 | pa2-s1    | 1250  | 0          | TIF_GTC |

    And the parties place the following orders with ticks:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | buy  | 30     | 1150  | 0                | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 30     | 1150  | 1                | TYPE_LIMIT | TIF_GTC |

    Then the following trades should be executed:
      | buyer  | price | size | seller |
      | party1 | 1150  | 30   | party2 |

# liquidity_fee = ceil(volume * price * liquidity_fee_factor) =  ceil(1150 * 30 * 0.002) = ceil(69) = 69

    And the accumulated liquidity fees should be "69" for the market "ETH/MAR22"

    Then the parties should have the following account balances:
      | party | asset | market id | margin | general | bond |
      | lp1 | USD | ETH/MAR22 | 6348 | 0 | 652 |

    And the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share | average entry valuation |
      | lp1   | 0.1               | 1000                    |
      | lp2   | 0.9               | 10000                   |

    # Trigger liquidity distribution
    When the network moves ahead "1" blocks:
    And the accumulated liquidity fees should be "1" for the market "ETH/MAR22"

    # 2nd set of trades: market moves against LP1s position, margin-insufficient, margin topped up from general and bond
    When the network moves ahead "1" blocks:

    When the parties amend the following orders:
      | party  | reference | price | size delta | tif     |
      | party1 | pa1-b1    | 1200  | 0          | TIF_GTC |
      | party2 | pa2-s1    | 1400  | 0          | TIF_GTC |

    And the parties place the following orders with ticks:
      | party  | market id | side | volume | price | resulting trades | type       | tif     |
      | party1 | ETH/MAR22 | buy  | 30     | 1300  | 0                | TYPE_LIMIT | TIF_GTC |
      | party2 | ETH/MAR22 | sell | 30     | 1300  | 1                | TYPE_LIMIT | TIF_GTC |

    Then the following trades should be executed:
      | buyer  | price | size | seller |
      | party1 | 1300  | 30   | party2 |

# liquidity_fee = ceil(volume * price * liquidity_fee_factor) =  ceil(1300 * 30 * 0.002) = ceil(78) = 78

    And the accumulated liquidity fees should be "82" for the market "ETH/MAR22"

    Then the parties should have the following account balances:
      | party | asset | market id | margin | general | bond |
      | lp1   | USD   | ETH/MAR22 | 0      | 0       | 0    |
    When the network moves ahead "1" blocks:

    And the liquidity provider fee shares for the market "ETH/MAR22" should be:
      | party | equity like share  | average entry valuation |
      | lp2   | 0.9324492333195193 | 10000                   |

    # Trigger liquidity distribution
    When the network moves ahead "1" blocks:

    And the accumulated liquidity fees should be "0" for the market "ETH/MAR22"