Invalid Position Width Error When Trying To Open A New Position

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Introduction

When working with decentralized finance (DeFi) protocols, errors can be frustrating and time-consuming to resolve. One common issue that developers and users may encounter is the Invalid position width error when trying to open a new position. In this article, we will delve into the causes of this error, explore a real-world example, and provide a solution to resolve the issue.

Understanding the Error

The Invalid position width error occurs when the protocol fails to validate the position width, which is the range of prices between the minimum and maximum bin IDs. This error can be caused by various factors, including:

  • Incorrect bin ID calculation: If the bin ID calculation is incorrect, it can lead to an invalid position width.
  • Insufficient liquidity: If the liquidity in the pool is insufficient, it can cause the position width to be invalid.
  • Strategy type: The strategy type used to open the position can also affect the position width.

Real-World Example

Let's take a look at a real-world example where the Invalid position width error occurs. In this example, we are trying to open a new position in a pool with the key 2DkG6qLCPGsF7mx6zx59kFFMepme9deSSX1cdiEyU8Km. We are using the following code to open the position:

const pool = await DLMM.create(rpc, poolKey);

const uiAmtX = 1000;
const uiAmtY = 0.08;

const activeBin = await pool.getActiveBin();
const activeBinPrice = parseFloat(activeBin.price);

const priceLower = addPct(activeBinPrice, -50);
const priceUpper = addPct(activeBinPrice, 50);

const minBinId = new BN(
  DLMM.getBinIdFromPrice(priceLower, pool.lbPair.binStep, false)
).toNumber();

const maxBinId = new BN(
  DLMM.getBinIdFromPrice(priceUpper, pool.lbPair.binStep, false)
).toNumber();

console.log(`${uiAmtX} + ${uiAmtY}`);
console.log(`${priceLower} ==> ${activeBinPrice} <== ${priceUpper}`);
console.log(`${minBinId} ==> ${activeBin.binId} <== ${maxBinId}`);

const totalXAmount = new BN(uiAmtX * 10 ** pool.tokenX.decimal);
const totalYAmount = new BN(uiAmtY * 10 ** pool.tokenY.decimal);

const pos = new Keypair();

const createPositionTx =
  await pool.initializePositionAndAddLiquidityByStrategy({
    positionPubKey: pos.publicKey,
    user: user.publicKey,
    totalXAmount,
    totalYAmount,
    strategy: {
      minBinId,
      maxBinId,
      strategyType: StrategyType.SpotImBalanced,
    },
  });

const txHash = await sendAndConfirmTransaction(rpc, createPositionTx, [
  user,
  pos,
]);

The Solution

When we tried to open a similar position through the UI, it opened two positions - one for bids and one for asks. This is the solution to the Invalid position width error. By opening two positions, we are effectively a bid and an ask position, which allows the protocol to validate the position width.

Why Do We Need to Open Two Positions?

We need to open two positions because the protocol requires a bid and an ask position to validate the position width. By opening two positions, we are providing the protocol with the necessary information to validate the position width.

Conclusion

In conclusion, the Invalid position width error can be caused by various factors, including incorrect bin ID calculation, insufficient liquidity, and strategy type. By understanding the causes of this error and exploring a real-world example, we can provide a solution to resolve the issue. In this case, opening two positions - one for bids and one for asks - is the solution to the Invalid position width error.

Additional Tips and Considerations

When working with DeFi protocols, it's essential to consider the following tips and considerations:

  • Always validate the position width: Before opening a position, always validate the position width to ensure that it is valid.
  • Use the correct strategy type: Use the correct strategy type to open the position, as the strategy type can affect the position width.
  • Ensure sufficient liquidity: Ensure that there is sufficient liquidity in the pool to avoid the position width being invalid.
  • Test and debug: Test and debug your code thoroughly to ensure that it is working correctly and not causing any errors.

Q&A: Invalid Position Width Error

Q: What is the Invalid Position Width Error?

A: The Invalid Position Width Error is a common issue that occurs when trying to open a new position in a decentralized finance (DeFi) protocol. It occurs when the protocol fails to validate the position width, which is the range of prices between the minimum and maximum bin IDs.

Q: What causes the Invalid Position Width Error?

A: The Invalid Position Width Error can be caused by various factors, including:

  • Incorrect bin ID calculation: If the bin ID calculation is incorrect, it can lead to an invalid position width.
  • Insufficient liquidity: If the liquidity in the pool is insufficient, it can cause the position width to be invalid.
  • Strategy type: The strategy type used to open the position can also affect the position width.

Q: How can I resolve the Invalid Position Width Error?

A: To resolve the Invalid Position Width Error, you can try the following:

  • Validate the position width: Before opening a position, always validate the position width to ensure that it is valid.
  • Use the correct strategy type: Use the correct strategy type to open the position, as the strategy type can affect the position width.
  • Ensure sufficient liquidity: Ensure that there is sufficient liquidity in the pool to avoid the position width being invalid.
  • Test and debug: Test and debug your code thoroughly to ensure that it is working correctly and not causing any errors.

Q: Why do I need to open two positions - one for bids and one for asks?

A: You need to open two positions - one for bids and one for asks - because the protocol requires a bid and an ask position to validate the position width. By opening two positions, you are providing the protocol with the necessary information to validate the position width.

Q: What are the benefits of opening two positions?

A: The benefits of opening two positions include:

  • Validated position width: By opening two positions, you can ensure that the position width is validated, which can help to avoid errors.
  • Increased liquidity: Opening two positions can also increase liquidity in the pool, which can make it easier to open positions in the future.
  • Improved strategy performance: By using the correct strategy type and ensuring sufficient liquidity, you can improve the performance of your strategy.

Q: What are some common mistakes to avoid when opening positions?

A: Some common mistakes to avoid when opening positions include:

  • Incorrect bin ID calculation: Make sure to calculate the bin ID correctly to avoid errors.
  • Insufficient liquidity: Ensure that there is sufficient liquidity in the pool to avoid the position width being invalid.
  • Incorrect strategy type: Use the correct strategy type to open the position, as the strategy type can affect the position width.

Q: How can I test and debug my code to avoid errors?

A: To test and debug your code, you can try the following:

  • Use a testing framework: Use a testing framework to and run tests for your code.
  • Debug your code: Use a debugger to step through your code and identify any errors.
  • Test with different scenarios: Test your code with different scenarios to ensure that it works correctly in all cases.

By following these tips and considerations, you can avoid the Invalid Position Width Error and ensure that your positions are opened correctly.