_calculateMaxBorrowingCapacity(coll, price) = coll * price / (110 * 1e16)
(BorrowerOperations.sol:1323-1328), the one copy of it (MK-101, docs/08-conventions.md ยง11).
Where the contract WRITES it, which is the part the documentation got wrong. At open, from the
opening price (:692-699). On a collateral decrease, as min(current, recalculated)
(:879-897), the only place it ratchets. And on EVERY refinance, unconditionally, from the price
at the refinance (:1077-1084): a refinance after a price rise raises it, and after a fall cuts
it, with no collateral change at all.
_calculateMaxBorrowingCapacity(coll, price) = coll * price / (110 * 1e16)(BorrowerOperations.sol:1323-1328), the one copy of it (MK-101,docs/08-conventions.mdยง11).Where the contract WRITES it, which is the part the documentation got wrong. At open, from the opening price (
:692-699). On a collateral decrease, asmin(current, recalculated)(:879-897), the only place it ratchets. And on EVERY refinance, unconditionally, from the price at the refinance (:1077-1084): a refinance after a price rise raises it, and after a fall cuts it, with no collateral change at all.