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SIP-420: Treasury market #2354

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dbeal-eth wants to merge 32 commits into main from treasury-market

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dbeal-eth commented Jan 19, 2025 •

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this implements sip-420.

notes:

in addition to implementing the actual contract for SIP-420, it was also necessary to add the migrateDelegation function to the core system. This is becuase it needs to be possible for a user to actually migrate their account from the current v3 SC pool without repaying their debt. (on optimism the legacymrket can be directly conneted)
the treasury market is designed to be able to work with other markets, preserving the portability of liquidity
testing a new way of testing contracts in the v3 repo. we generate a foundry script with cannon, and then run tests against the generated script. So far this seems to be working well. Coverage and everything works wrt tests. This script can even be copied anywhere since it has no dependencies (outside of forge-std).

some deployment invariants exist WRT the creation of the pool (ex. limit to only one collateral type, no minting through v3, etc.). For more information see the corresponding deployments PR Synthetixio/synthetix-deployments#619

dbeal-eth requested a review from noisekit

January 19, 2025 08:36

dbeal-eth self-assigned this

noisekit reviewed

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markets/perps-market/storage.dump.json Outdated Show resolved Hide resolved

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markets/treasury-market/contracts/interfaces/external/IV3CoreProxy.sol Show resolved Hide resolved

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CalabashSquash left a comment

just two nitpicks

markets/treasury-market/contracts/TreasuryMarket.sol Outdated

Comment on lines 149 to 160

+                      //
+                      uint256 newlySaddledValue = accountCollateralValue -
+                          (saddledCollateral[accountId] * accountCollateralValue) /
+                          accountCollateral;

CalabashSquash Jan 21, 2025

nit: should there be a comment here? I think it would be worth adding anyway

markets/treasury-market/contracts/TreasuryMarket.sol Outdated Show resolved Hide resolved

dbeal-eth and others added 20 commits

January 30, 2025 11:31


          initial impl for treasury market

1ded8ae


          tests pass 100% covered

b5749d0


          cleanup and update to match the latest stated requirements for SIP-420

90a4bd1


          add rebalance function, update deploy script

b29eccc


          fix yarn lock and test command

e19e795


          fix scripts

a5d12f6


          remove unneeded deps; fix build testable

d14b3ec


          yarn

923695f


          add main package dependency to prevent issues with build testable

dbefd38


          fixes from review feedback

516a847


          exclude from depcheck

45062f8


          add delegation migrate function (#2355)

5576dcc


          add some tests, cleanups

176f18d


          add penalty factor

b2973c0

if the loan is repaid early, an additional penalty on the amount of the
loan that had been paid so far should be charged.


          Replace forge install foundry-rs/forge-std with node_modules

870d16b


          add repayment penalty view function

648f653


          full coverage

704fa04


          initial audit feedback

75d8b96

* use minimumCredit to prevent withdrawal of funds by any means
* subtract from artificialDebt in order to allow for repayment of loan
  (does not work if artificialDebt is insufficient)
* add rebalance to unsaddle
* move saddledCollateral = 0 to correct place
* add tests corresponding to audits


          Add missing deploy command

49f145d


          Align oracle manager version with core

7e02989

noisekit force-pushed the treasury-market branch from c6a45fc to 7e02989 Compare

January 30, 2025 00:51

dbeal-eth and others added 12 commits

January 31, 2025 16:25


          introduce totalSaddledCollateral

6be4931


          should be checking against the newPoolIds min issuance ratio

b7ac48f

rather than the old one during migration


          Update markets/treasury-market/contracts/TreasuryMarket.sol

132e210

Co-authored-by: __CalabashSquash__ <[email protected]>


          more fixes

a6f50ba


          fix audit notes

cae0396

* add missing comments
* fix spellings
* fix not delegated case
* refactor code to make for easier modelling and less gas a bit


          should be checking against liqiudation c-ratio, not issuance ratio

001a2e6


          execute rebalance before transfer

9096edc


          rebalance at the beginning of saddle

0b1538c


          add some missing ticker calls

d226dda


          fix unnecessary recomputation

d88d8f8


          fix more misc

f64960f


          remove harmful rebalance

518ee19

we cant do a rebalance at beginning of saddle becuase that defeats the
purpose of absorbing the correct amount of debt

noisekit force-pushed the treasury-market branch from 0dc9292 to 518ee19 Compare

January 31, 2025 05:26

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