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Merged
MicBun merged 3 commits into from
Feb 9, 2026
Merged

chore: prevent trading after event completion #1314

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e5e8693
chore: prevent trading after event completion
MicBun Feb 9, 2026
c87fec3
chore: patch CI
MicBun Feb 9, 2026
e64836a
chore: apply suggestion
MicBun Feb 9, 2026
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69 changes: 52 additions & 17 deletions internal/migrations/032-order-book-actions.sql
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Original file line number Diff line number Diff line change
Expand Up @@ -1053,25 +1053,32 @@ CREATE OR REPLACE ACTION place_buy_order(

-- 1.4 Validate market exists and is not settled
$settled BOOL;
$settle_time INT8;
$market_found BOOL := false;

for $row in SELECT settled FROM ob_queries WHERE id = $query_id {
for $row in SELECT settled, settle_time FROM ob_queries WHERE id = $query_id {
$settled := $row.settled;
$settle_time := $row.settle_time;
$market_found := true;
}

if NOT $market_found {
ERROR('Market does not exist (query_id: ' || $query_id::TEXT || ')');
}

-- Note: Markets remain tradable until explicitly settled (settled=true).
-- The settle_time is metadata indicating when settlement CAN occur, not when it MUST.
-- Users can continue trading past settle_time until the settlement action is triggered.
-- This two-phase design allows flexibility in settlement timing.
-- Note: Markets remain tradable until settlement time is reached or explicitly settled (settled=true).
-- The settle_time is metadata indicating when settlement CAN occur, and now serves as a hard cutoff for trading.
-- Users cannot continue trading past settle_time.
-- This two-phase design allows flexibility in settlement timing while ensuring a fixed trading window.
if $settled {
ERROR('Market has already settled (no trading allowed)');
}

-- Trading Cutoff: Prevent new orders after settlement time
if @block_timestamp >= $settle_time {
ERROR('Trading is closed. Market has passed its settlement time.');
}

-- ==========================================================================
-- SECTION 2: CALCULATE COLLATERAL NEEDED
-- ==========================================================================
Expand Down Expand Up @@ -1244,25 +1251,32 @@ CREATE OR REPLACE ACTION place_sell_order(

-- 1.3 Validate market exists and is not settled
$settled BOOL;
$settle_time INT8;
$market_found BOOL := false;

for $row in SELECT settled FROM ob_queries WHERE id = $query_id {
for $row in SELECT settled, settle_time FROM ob_queries WHERE id = $query_id {
$settled := $row.settled;
$settle_time := $row.settle_time;
$market_found := true;
}

if NOT $market_found {
ERROR('Market does not exist (query_id: ' || $query_id::TEXT || ')');
}

-- Note: Markets remain tradable until explicitly settled (settled=true).
-- The settle_time is metadata indicating when settlement CAN occur, not when it MUST.
-- Users can continue trading past settle_time until the settlement action is triggered.
-- This two-phase design allows flexibility in settlement timing.
-- Note: Markets remain tradable until settlement time is reached or explicitly settled (settled=true).
-- The settle_time is metadata indicating when settlement CAN occur, and now serves as a hard cutoff for trading.
-- Users cannot continue trading past settle_time.
-- This two-phase design allows flexibility in settlement timing while ensuring a fixed trading window.
if $settled {
ERROR('Market has already settled (no trading allowed)');
}

-- Trading Cutoff: Prevent new orders after settlement time
if @block_timestamp >= $settle_time {
ERROR('Trading is closed. Market has passed its settlement time.');
}

-- ==========================================================================
-- SECTION 2: GET PARTICIPANT (NO AUTO-CREATE FOR SELLS)
-- ==========================================================================
Expand Down Expand Up @@ -1440,25 +1454,32 @@ CREATE OR REPLACE ACTION place_split_limit_order(

-- 1.4 Validate market exists and is not settled
$settled BOOL;
$settle_time INT8;
$market_found BOOL := false;

for $row in SELECT settled FROM ob_queries WHERE id = $query_id {
for $row in SELECT settled, settle_time FROM ob_queries WHERE id = $query_id {
$settled := $row.settled;
$settle_time := $row.settle_time;
$market_found := true;
}

if NOT $market_found {
ERROR('Market does not exist (query_id: ' || $query_id::TEXT || ')');
}

-- Note: Markets remain tradable until explicitly settled (settled=true).
-- The settle_time is metadata indicating when settlement CAN occur, not when it MUST.
-- Users can continue trading past settle_time until the settlement action is triggered.
-- This two-phase design allows flexibility in settlement timing.
-- Note: Markets remain tradable until settlement time is reached or explicitly settled (settled=true).
-- The settle_time is metadata indicating when settlement CAN occur, and now serves as a hard cutoff for trading.
-- Users cannot continue trading past settle_time.
-- This two-phase design allows flexibility in settlement timing while ensuring a fixed trading window.
if $settled {
ERROR('Market has already settled (no trading allowed)');
}

-- Trading Cutoff: Prevent new orders after settlement time
if @block_timestamp >= $settle_time {
ERROR('Trading is closed. Market has passed its settlement time.');
}

-- ==========================================================================
-- SECTION 2: CALCULATE COLLATERAL NEEDED
-- ==========================================================================
Expand Down Expand Up @@ -1897,8 +1918,10 @@ CREATE OR REPLACE ACTION change_bid(
-- ==========================================================================

$settled BOOL;
for $row in SELECT settled FROM ob_queries WHERE id = $query_id {
$settle_time INT8;
for $row in SELECT settled, settle_time FROM ob_queries WHERE id = $query_id {
$settled := $row.settled;
$settle_time := $row.settle_time;
}

if $settled IS NULL {
Expand All @@ -1909,6 +1932,11 @@ CREATE OR REPLACE ACTION change_bid(
ERROR('Cannot modify orders on settled market');
}

-- Trading Cutoff: Prevent modifying orders after settlement time
if @block_timestamp >= $settle_time {
ERROR('Trading is closed. Market has passed its settlement time.');
}

-- ==========================================================================
-- SECTION 4: GET OLD ORDER DETAILS
-- ==========================================================================
Expand Down Expand Up @@ -2142,8 +2170,10 @@ CREATE OR REPLACE ACTION change_ask(
-- ==========================================================================

$settled BOOL;
for $row in SELECT settled FROM ob_queries WHERE id = $query_id {
$settle_time INT8;
for $row in SELECT settled, settle_time FROM ob_queries WHERE id = $query_id {
$settled := $row.settled;
$settle_time := $row.settle_time;
}

if $settled IS NULL {
Expand All @@ -2154,6 +2184,11 @@ CREATE OR REPLACE ACTION change_ask(
ERROR('Cannot modify orders on settled market');
}

-- Trading Cutoff: Prevent modifying orders after settlement time
if @block_timestamp >= $settle_time {
ERROR('Trading is closed. Market has passed its settlement time.');
}

-- ==========================================================================
-- SECTION 4: GET OLD ORDER DETAILS
-- ==========================================================================
Expand Down
28 changes: 16 additions & 12 deletions internal/migrations/040-binary-attestation-actions.sql
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Original file line number Diff line number Diff line change
Expand Up @@ -22,6 +22,18 @@ INSERT INTO attestation_actions (action_name, action_id) VALUES
('value_equals', 9)
ON CONFLICT (action_name) DO NOTHING;

-- =============================================================================
-- Helper: Validate timestamp is not in the future
-- =============================================================================
CREATE OR REPLACE ACTION validate_not_before_timestamp($timestamp INT8) PRIVATE {
if $timestamp IS NULL {
ERROR('timestamp is required');
}
if @block_timestamp < $timestamp {
ERROR('Cannot resolve market before target timestamp. Current: ' || @block_timestamp::TEXT || ', Target: ' || $timestamp::TEXT);
}
};

-- =============================================================================
-- price_above_threshold: Returns TRUE if value > threshold at timestamp
-- =============================================================================
Expand Down Expand Up @@ -51,9 +63,7 @@ CREATE OR REPLACE ACTION price_above_threshold(
$effective_frozen_at INT8 := COALESCE($frozen_at, $max_int8);

-- Validate inputs
if $timestamp IS NULL {
ERROR('timestamp is required');
}
validate_not_before_timestamp($timestamp);
if $threshold IS NULL {
ERROR('threshold is required');
}
Expand Down Expand Up @@ -121,9 +131,7 @@ CREATE OR REPLACE ACTION price_below_threshold(
$effective_frozen_at INT8 := COALESCE($frozen_at, $max_int8);

-- Validate inputs
if $timestamp IS NULL {
ERROR('timestamp is required');
}
validate_not_before_timestamp($timestamp);
if $threshold IS NULL {
ERROR('threshold is required');
}
Expand Down Expand Up @@ -189,9 +197,7 @@ CREATE OR REPLACE ACTION value_in_range(
$effective_frozen_at INT8 := COALESCE($frozen_at, $max_int8);

-- Validate inputs
if $timestamp IS NULL {
ERROR('timestamp is required');
}
validate_not_before_timestamp($timestamp);
if $min_value IS NULL {
ERROR('min_value is required');
}
Expand Down Expand Up @@ -265,9 +271,7 @@ CREATE OR REPLACE ACTION value_equals(
$effective_tolerance NUMERIC(36, 18) := COALESCE($tolerance, 0::NUMERIC(36, 18));

-- Validate inputs
if $timestamp IS NULL {
ERROR('timestamp is required');
}
validate_not_before_timestamp($timestamp);
if $target IS NULL {
ERROR('target is required');
}
Expand Down
62 changes: 62 additions & 0 deletions tests/streams/order_book/binary_actions_test.go
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Original file line number Diff line number Diff line change
Expand Up @@ -5,6 +5,7 @@ package order_book
import (
"context"
"testing"
"time"

"github.com/stretchr/testify/require"
"github.com/trufnetwork/kwil-db/common"
Expand Down Expand Up @@ -51,6 +52,7 @@ func TestBinaryActions(t *testing.T) {
// Error cases
testBinaryActionNoData(t),
testValueInRangeInvalidRange(t),
testBinaryActionFutureTimestamp(t),
},
}, testutils.GetTestOptionsWithCache())
}
Expand All @@ -74,6 +76,9 @@ func setupBinaryActionTest(t *testing.T, ctx context.Context, platform *kwilTest
// Use attestation helper for engine context after data provider is created
helper := attestationTests.NewAttestationTestHelper(t, ctx, platform)
engineCtx := helper.NewEngineContext()
// Set block timestamp to be after the event time so "past" queries work
// If eventTime is 1000, block time 2000 allows querying 1000
engineCtx.TxContext.BlockContext.Timestamp = eventTime + 1000

t.Logf("Setup: Creating stream %s", streamID)

Expand Down Expand Up @@ -614,6 +619,7 @@ func testBinaryActionNoData(t *testing.T) func(context.Context, *kwilTesting.Pla

helper := attestationTests.NewAttestationTestHelper(t, ctx, platform)
engineCtx := helper.NewEngineContext()
engineCtx.TxContext.BlockContext.Timestamp = 2000 // Ensure query is in the past

// Create stream but DON'T insert any data
_, err = platform.Engine.Call(engineCtx, platform.DB, "", "create_stream",
Expand Down Expand Up @@ -649,6 +655,7 @@ func testValueInRangeInvalidRange(t *testing.T) func(context.Context, *kwilTesti
eventTime := int64(1000)

engineCtx, dataProvider := setupBinaryActionTest(t, ctx, platform, streamID, eventTime, "100.000000000000000000")
engineCtx.TxContext.BlockContext.Timestamp = 2000 // Ensure query is in the past

// min > max is invalid
minDecimal, err := kwilTypes.ParseDecimalExplicit("200.000000000000000000", 36, 18)
Expand All @@ -674,3 +681,58 @@ func testValueInRangeInvalidRange(t *testing.T) func(context.Context, *kwilTesti
return nil
}
}

func testBinaryActionFutureTimestamp(t *testing.T) func(context.Context, *kwilTesting.Platform) error {
return func(ctx context.Context, platform *kwilTesting.Platform) error {
deployer := util.Unsafe_NewEthereumAddressFromString("0x1111111111111111111111111111111111111111")
platform.Deployer = deployer.Bytes()

streamID := "stbinaryfuture000000000000000001"
dataProvider := deployer.Address()

// Create data provider using setup helper
err := setup.CreateDataProvider(ctx, platform, dataProvider)
require.NoError(t, err)

helper := attestationTests.NewAttestationTestHelper(t, ctx, platform)
engineCtx := helper.NewEngineContext()

// Create stream
_, err = platform.Engine.Call(engineCtx, platform.DB, "", "create_stream",
[]any{streamID, "primitive"}, nil)
require.NoError(t, err)

// Insert some data for now
eventTime := time.Now().Unix()
valueDecimal, _ := kwilTypes.ParseDecimalExplicit("50000.000000000000000000", 36, 18)
_, err = platform.Engine.Call(engineCtx, platform.DB, "", "insert_records",
[]any{
[]string{dataProvider},
[]string{streamID},
[]int64{eventTime},
[]*kwilTypes.Decimal{valueDecimal},
}, nil)
require.NoError(t, err)

// Try to query for FUTURE timestamp (1 hour later)
futureTime := eventTime + 3600
thresholdDecimal, _ := kwilTypes.ParseDecimalExplicit("40000.000000000000000000", 36, 18)

res, err := platform.Engine.Call(engineCtx, platform.DB, "", "price_above_threshold",
[]any{
dataProvider,
streamID,
futureTime,
thresholdDecimal,
nil,
}, nil)
require.NoError(t, err)

// Should error due to premature resolution safeguard
require.NotNil(t, res.Error, "should error when querying future timestamp")
require.Contains(t, res.Error.Error(), "Cannot resolve market before target timestamp", "error should mention target timestamp")
t.Log("price_above_threshold with future timestamp: correctly returned error")

return nil
}
}
38 changes: 38 additions & 0 deletions tests/streams/order_book/buy_order_test.go
View file
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Original file line number Diff line number Diff line change
Expand Up @@ -64,6 +64,7 @@ func TestPlaceBuyOrder(t *testing.T) {
testBuyOrderMultipleOrdersDifferentPrices(t),
testBuyOrderMultipleOrdersSamePrice(t),
testBuyOrderBalanceChanges(t),
testBuyOrderTradingClosed(t),
},
}, testutils.GetTestOptionsWithCache())
}
Expand Down Expand Up @@ -636,3 +637,40 @@ func getUSDCBalance(ctx context.Context, platform *kwilTesting.Platform, wallet

return balance, nil
}

// testBuyOrderTradingClosed tests that orders cannot be placed after settlement time
func testBuyOrderTradingClosed(t *testing.T) func(ctx context.Context, platform *kwilTesting.Platform) error {
return func(ctx context.Context, platform *kwilTesting.Platform) error {
userAddr := util.Unsafe_NewEthereumAddressFromString("0x9999999999999999999999999999999999999999")

err := giveBalance(ctx, platform, userAddr.Address(), "100000000000000000000")
require.NoError(t, err)

err = erc20bridge.ForTestingInitializeExtension(ctx, platform)
require.NoError(t, err)

// Create market with settlement time 2 seconds in the future
// Note: We need a slight delay to ensure we can create it before it expires
settleTime := time.Now().Add(2 * time.Second).Unix()

queryComponents, err := encodeQueryComponentsForTests(userAddr.Address(), "sttest00000000000000000000000008", "get_record", []byte{0x01})
require.NoError(t, err)

var marketID int64
err = callCreateMarket(ctx, platform, &userAddr, queryComponents, settleTime, 5, 20, func(row *common.Row) error {
marketID = row.Values[0].(int64)
return nil
})
require.NoError(t, err)

// Wait for settlement time to pass
time.Sleep(3 * time.Second)

// Try to place buy order - should fail
err = callPlaceBuyOrder(ctx, platform, &userAddr, int(marketID), true, 50, 10)
require.Error(t, err, "place_buy_order should fail after settle_time")
require.Contains(t, err.Error(), "Trading is closed", "error should mention trading closed")

return nil
}
}
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