-
Notifications
You must be signed in to change notification settings - Fork 9
Commit
This commit does not belong to any branch on this repository, and may belong to a fork outside of the repository.
Merge pull request #42 from makerdao/feat/rwa-offboarding
Feat: RWA Offboarding Checklist
- Loading branch information
Showing
4 changed files
with
200 additions
and
171 deletions.
There are no files selected for viewing
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,191 @@ | ||
| # RWA Checklists | ||
|
|
||
| ## RWA Onboarding Checklist | ||
|
|
||
| * [ ] Deployed Contracts | ||
| * [ ] `RwaToken` (Token Used as Collateral In Adapter) | ||
| * [ ] deployed via [`RwaTokenFactory`](https://github.com/makerdao/rwa-toolkit/blob/master/src/tokens/RwaTokenFactory.sol) | ||
| * [ ] Fab matches [chainlog](https://chainlog.makerdao.com/) | ||
| * [ ] ensure source matches [GitHub code](https://github.com/makerdao/rwa-toolkit/blob/92c79aac24ef7645902ce4be57ba41b19e6c7dd5/src/tokens/RwaToken.sol) and it's consistent with previous RWA onboarding | ||
| * [ ] Rwa Token transferred to MCD Pause Proxy | ||
| * [ ] `createRwaToken` parameters are correct | ||
| * [ ] `name` is in `RWA-XYZ` format | ||
| * [ ] `symbol` is in `RWAXYZ` format | ||
| * [ ] `recipient` matches MCD Pause Proxy | ||
| * [ ] `AuthGemJoin` (Join Adapter) | ||
| * [ ] deployed via [JoinFab](https://github.com/makerdao/JoinFab/blob/master/src/JoinFab.sol) | ||
| * [ ] Fab matches [chainlog](https://chainlog.makerdao.com/) | ||
| * [ ] ensure source matches [GitHub code](https://github.com/makerdao/dss-gem-joins/blob/8ca0a7fdd5edc6ed3da68c3ffdfadfb9540c83f7/src/join-auth.sol) and it's consistent with previous RWA onboarding (NOTE: Etherscan may have a bug where it displays additional code for `AuthGemJoin`. In this case, using `cast interface` or otherwise, ensure that this code cannot be executed) | ||
| * [ ] `newAuthGemJoin` parameters are correct | ||
| * [ ] `owner` matches `PAUSE_PROXY` | ||
| * [ ] `ilk` is the `bytes32` representation of "RWAXYZ-A" | ||
| * [ ] `cast --to-ascii <bytes32>` matches ASCII Ilk | ||
| * [ ] `cast --to-bytes32 $(cast --from-ascii "RWAXYZ-A")` matches `bytes32` (to check the amount of padding zeroes is correct) | ||
| * [ ] `gem` matches `RwaToken` deployed contract | ||
| * [ ] check `wards` | ||
| * [ ] `MCD_PAUSE_PROXY` is relied | ||
| * [ ] deployer is denied | ||
| * [ ] no other address has been relied | ||
| * [ ] `RwaUrn`/`RwaUrn2` | ||
| * [ ] contract is verified on etherscan | ||
| * [ ] ensure `0.6.12` solc version is used | ||
| * [ ] ensure optimizations are off | ||
| * [ ] ensure license is specified (SPDX in code or otherwise) | ||
| * [ ] ensure source matches [GitHub code](https://github.com/makerdao/rwa-toolkit/tree/8d30ed2cb657641253d45b57c894613e26b4ae1b/src/urns) and it's consistent with previous RWA onboardings | ||
| * [ ] constructor args are correct and match [Chainlog](https://chainlog.makerdao.com/) | ||
| * [ ] `vat` matches `MCD_VAT` | ||
| * [ ] `jug` matches `MCD_JUG` | ||
| * [ ] `gemJoin` matches `MCD_JOIN_RWAXYZ_A` (Per spell code) | ||
| * [ ] `daiJoin` matches `MCD_JOIN_DAI` | ||
| * [ ] `outputConduit` matches `RwaOutputConduit<2,3>` (Per spell code) | ||
| * [ ] check `wards` | ||
| * [ ] `MCD_PAUSE_PROXY` is relied | ||
| * [ ] deployer is denied | ||
| * [ ] no other address has been relied | ||
| * [ ] `RwaJar` | ||
| * [ ] contract is verified on etherscan | ||
| * [ ] ensure `0.6.12` solc version is used | ||
| * [ ] ensure optimizations are off | ||
| * [ ] ensure license is specified (SPDX in code or otherwise) | ||
| * [ ] ensure source matches [GitHub code](https://github.com/makerdao/rwa-toolkit/blob/8d30ed2cb657641253d45b57c894613e26b4ae1b/src/jars/RwaJar.sol) and it's consistent with previous RWA onboarding | ||
| * [ ] constructor arg matches [`ChainLog`](https://chainlog.makerdao.com/) | ||
| * [ ] `chainlog` | ||
| * [ ] no `wards` | ||
| * [ ] `RwaInputConduit<2>`/`RwaSwapInputConduit<2>` | ||
| * [ ] contract is verified on etherscan | ||
| * [ ] ensure `0.6.12` solc version is used | ||
| * [ ] ensure optimizations are off | ||
| * [ ] ensure license is specified (SPDX in code or otherwise) | ||
| * [ ] ensure source matches [GitHub code](https://github.com/makerdao/rwa-toolkit/tree/8d30ed2cb657641253d45b57c894613e26b4ae1b/src/conduits) and it's consistent with previous RWA onboarding | ||
| * [ ] constructor args are correct and match [chainlog](https://chainlog.makerdao.com/) | ||
| * [ ] `dai` | ||
| * [ ] `to` (`RwaUrn`, `RwaJar`) | ||
| * [ ] `gov` (`v1`) | ||
| * [ ] `psm`, `gem` (`v3`) | ||
| * [ ] check `wards` | ||
| * [ ] `MCD_PAUSE_PROXY` is relied | ||
| * [ ] deployer is denied | ||
| * [ ] no other address has been relied | ||
| * [ ] `RwaOutputConduit<2>`/`RwaSwapOutputConduit` | ||
| * [ ] contract is verified on etherscan | ||
| * [ ] ensure `0.6.12` solc version is used | ||
| * [ ] ensure optimizations are off | ||
| * [ ] ensure license is specified (SPDX in code or otherwise) | ||
| * [ ] ensure source matches [GitHub code](https://github.com/makerdao/rwa-toolkit/tree/8d30ed2cb657641253d45b57c894613e26b4ae1b/src/conduits) and it's consistent with previous RWA onboarding | ||
| * [ ] constructor args are correct and match [chainlog](https://chainlog.makerdao.com/) | ||
| * [ ] `dai` | ||
| * [ ] `gov` (`v1`) | ||
| * [ ] `psm`, `gem` (`v3`) | ||
| * [ ] check `wards` | ||
| * [ ] `MCD_PAUSE_PROXY` is relied | ||
| * [ ] deployer is denied | ||
| * [ ] no other address has been relied | ||
| * [ ] Risk Parameters Match Doc | ||
| * [ ] `duty`(stability fee) | ||
| * [ ] `line`(debt ceiling) | ||
| * [ ] `mat` (liquidation ratio) | ||
| * [ ] `val` (oracle price) | ||
| * [ ] `val` is computed as `"debt_ceiling * [ (1 + rwa_stability_fee ) ^ (minimum_deal_duration_in_years) ] * liquidation_ratio"` | ||
| * [ ] `val` matches locally executable formula (e.g. `// bc -l <<< 'scale=18; 50000000 * e(l(1.07) * (3342/365)) * 1.00' | cast --to-wei`) | ||
| * [ ] `tau` (pre-agreed remediation period) | ||
| * [ ] `doc` (IPFS Hash) | ||
| * [ ] Onboarding Actions | ||
| * [ ] `ilk` matches the format `RWAXYZ-A` | ||
| * [ ] Sanity Checks (constructor args, public vars, ... via `require` condition) | ||
| * [ ] `MIP21_LIQUIDATION_ORACLE.init` | ||
| * [ ] `vat.init.ilk` | ||
| * [ ] `jug.init.ilk` (this will set `duty` to `RAY` (zero pct) by default) | ||
| * [ ] `vat` rely `join` | ||
| * [ ] Increase Ilk Debt Ceiling (set DC + increase Global DC) | ||
| * [ ] File Ilk `pip` in the `spotter` | ||
| * [ ] File Ilk `mat` in the `spotter` | ||
| * [ ] Poke `spotter` to pull in the price | ||
| * [ ] `join` rely `urn` | ||
| * [ ] Access Control | ||
| * [ ] `hope` (operator, pause proxy) | ||
| * [ ] `mate` (operator, pause proxy as fallback if required) | ||
| * [ ] `kiss` (whitelist for `urn` destination address `who`) | ||
| * [ ] Fileable (`RwaSwapOutputConduit` and `RwaSwapInputConduit`) | ||
| * [ ] `quitTo` (`file` the appropriate address for conduits per technical assessment) | ||
| * [ ] New Chainlog Entries | ||
| * [ ] `RWAXYZ` | ||
| * [ ] `PIP_RWAXYZ` precomputed via `cast compute-address $MIP21_LIQUIDATION_ORACLE` | ||
| * [ ] Note that a nonce change for `MIP21_LIQUIDATION_ORACLE` prior to casting will cause this to be incorrect | ||
| * [ ] `MCD_JOIN_RWAXYZ_A` | ||
| * [ ] `RWAXYZ_A_URN` | ||
| * [ ] `RWAXYZ_A_JAR` | ||
| * [ ] `RWAXYZ_A_INPUT_CONDUIT` | ||
| * [ ] `RWAXYZ_A_OUTPUT_CONDUIT` | ||
| * [ ] Chainlog Bump | ||
| * [ ] Patch `x.x.1` | ||
| * [ ] Add Ilk to `IlkRegistry` | ||
| * [ ] `put` is used | ||
| * [ ] `class` is 3 | ||
| * [ ] `name` matches forum post (e.g. "RWA007-A: Monetalis Clydesdale") | ||
| * [ ] Ensure `DssExecLib` is used for the Onboarding (e.g. `DssExecLib.vat`) | ||
| * [ ] Test Coverage (Follow Previous Test Patterns) | ||
| * [ ] `testNewChainlogValues` | ||
| * [ ] `testNewIlkRegistryValues` | ||
| * [ ] `testRWAXYZ_INTEGRATION_CONDUITS_SETUP` | ||
| * [ ] `testRWAXYZ_INTEGRATION_BUMP` | ||
| * [ ] `testRWAXYZ_INTEGRATION_TELL` | ||
| * [ ] `testRWAXYZ_INTEGRATION_TELL_CURE_GOOD` | ||
| * [ ] `testFailRWAXYZ_INTEGRATION_CURE_BEFORE_TELL` | ||
| * [ ] `testRWAXYZ_INTEGRATION_TELL_CULL` | ||
| * [ ] `testRWAXYZ_PAUSE_PROXY_OWNS_RWAXYZ_TOKEN_BEFORE_SPELL` | ||
| * [ ] `testRWAXYZ_SPELL_LOCK_OPERATOR_DRAW_WIPE_FREE` | ||
| * [ ] `testFailRWAXYZ_DRAW_ABOVE_LINE` | ||
| * [ ] `testFailRWAXYZ_OUTPUT_CONDUIT_PUSH_ABOVE_BALANCE` | ||
| * [ ] `testRWAXYZ_OPERATOR_LOCK_DRAW_CAGE` | ||
| * [ ] `testRWAXYZ_SPELL_LOCK` | ||
| * [ ] `addresses_<mainnet, goerli>.sol` | ||
| * [ ] `config.sol` | ||
|
|
||
| ## RWA Update Checklist | ||
|
|
||
| * IF `doc` is updated | ||
| * [ ] [`_updateDoc` helper](https://github.com/makerdao/spells-mainnet/blob/7400e91c4f211fc24bd4d3a95a86416afc4df9d1/archive/2023-09-27-DssSpell/DssSpell.sol#L76-L87) is copied one-to-one from the archive and defined above `actions` | ||
| * [ ] `_updateDoc(ilk, doc)` is called in the spell | ||
| * IF debt ceiling is updated | ||
| * IF AutoLine update is requested by the Exec Sheet | ||
| * [ ] Parameters are set via [`DssExecLib.setIlkAutoLineParameters(ilk, amount, gap, ttl)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L648) or [`DssExecLib.setIlkAutoLineDebtCeiling(ilk, amount)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L658) | ||
| * IF regular debt ceiling (`vat.ilk.line`) update is requested by the Exec Sheet | ||
| * [ ] Collateral type (`ilk`) have [`AutoLine`](https://github.com/makerdao/dss-auto-line/tree/master) disabled previously or in the spell | ||
| * [ ] Debt ceiling (`vat.ilk.line`) is updated, via EITHER: | ||
| * [`DssExecLib.increaseIlkDebtCeiling(ilk, amount, global)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L621C14-L621C36) | ||
| * [`DssExecLib.decreaseIlkDebtCeiling(ilk, amount, global)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L634) | ||
| * [`DssExecLib.setIlkDebtCeiling(ilk, amount)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L611) | ||
| * [ ] Global debt ceiling (`vat.Line`) is updated accordingly, UNLESS specifically instructed not to, via EITHER: | ||
| * `global` set to `true` in `increaseIlkDebtCeiling`/`decreaseIlkDebtCeiling` | ||
| * [`DssExecLib.setGlobalDebtCeiling(amount)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L428) | ||
| * [`DssExecLib.increaseGlobalDebtCeiling(amount)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L436) | ||
| * [`DssExecLib.decreaseGlobalDebtCeiling(amount)`](https://github.com/makerdao/dss-exec-lib/blob/v0.0.9/src/DssExecLib.sol#L445C14-L445C39) | ||
| * [ ] Liquidation oracle price is bumped via `RwaLiquidationOracleLike(MIP21_LIQUIDATION_ORACLE).bump(ilk, val)` pattern | ||
| * [ ] Comment above `bump` explains `val` computation via `// Note: the formula is: "debt_ceiling * [ (1 + rwa_stability_fee ) ^ (minimum_deal_duration_in_years) ] * liquidation_ratio"` | ||
| * [ ] Comment above `bump` provides locally executable formula (e.g. `// bc -l <<< 'scale=18; 50000000 * e(l(1.07) * (3342/365)) * 1.00' | cast --to-wei`) | ||
| * [ ] The formula matches the example provided above | ||
| * [ ] `debt_ceiling` in the executable formula matches new debt ceiling set in the spell or the maximum possible debt ceiling in case of the enabled AutoLine | ||
| * [ ] `rwa_stability_fee` in the executable formula matches stability fee of the specified RWA found on chain | ||
| * [ ] `minimum_deal_duration_in_years` in the executable formula matches number found in the Exec Sheet of the spell containing relevant RWA onboarding | ||
| * [ ] `liquidation_ratio` in the executable formula matches liquidation ratio of the specified RWA found on chain | ||
| * [ ] Executing formula locally provides integer number that matches the `val` in the spell | ||
| * [ ] `val` makes sense in context of the [rate mechanism](https://github.com/makerdao/developerguides/blob/master/mcd/intro-rate-mechanism/intro-rate-mechanism.md) | ||
| * [ ] IF multiple RWA ilks are being combined into one, `val` calculation is done once per ilk and added to make the total, with separate executable formulas provided in comments. The existing `val` value can be retrieved by calling `read()` on `PIP_RWAXYZ` and converting the result into decimal | ||
| * [ ] Oracle price is updated via `DssExecLib.updateCollateralPrice(ilk)` | ||
| * IF soft liquidation explicitly requested to be triggered (via `.tell(ilk)`) AND debt ceiling (`vat.ilks(ilk).line`) is `0` (OR is being set to `0` in the current spell) | ||
| * [ ] `RwaLiquidationOracle.tell(ilk)` call is present | ||
| * [ ] IF `RWAXYZ_A_INPUT_CONDUIT` is an instance of [`TinlakeMgr`](https://github.com/centrifuge/tinlake-maker-lib/blob/master/src/mgr.sol) (it is a Centrifuge integration), additional `TinlakeMgr.tell()` call is present (in order to prevent further `TIN` redemptions in the Centrifuge pool) | ||
|
|
||
| ## RWA Offboarding Checklist | ||
|
|
||
| * [ ] The debt ceiling (`vat.ilks(ilk).line`) is `0` OR is currently being set to `0`. | ||
| * IF soft liquidation `.tell(ilk)` has **NOT** been called for the ilk in a previous spell: | ||
| * [ ] `RwaLiquidationOracle.tell(ilk)` call is present | ||
| * [ ] IF `RWAXYZ_A_INPUT_CONDUIT` is an instance of [`TinlakeMgr`](https://github.com/centrifuge/tinlake-maker-lib/blob/master/src/mgr.sol) (it is a Centrifuge integration), additional `TinlakeMgr.tell()` call is present (in order to prevent further `TIN` redemptions in the Centrifuge pool) | ||
| * IF there is debt in the RWA Vault (`vat.urns(ilk, RWAXYZ_A_URN).art > 0`), proceed with the write-off (i.e.: vault is in default): | ||
| * [ ] Obtain `toc` and `tau` from `RwaLiquidationOracle.ilks(ilk)` | ||
| * [ ] IF `block.timestamp >= toc + tau`, then | ||
| * [ ] IF the stability fee for the ilk is not zero (`jug.ilks(ilk).duty > 1 * RAY`), `jug.drip(ilk)` call is present | ||
| * [ ] `RwaLiquidationOracle.cull(ilk, RWAXYZ_A_URN)` call is present | ||
| * [ ] IF `RWAXYZ_A_INPUT_CONDUIT` is an instance of [`TinlakeMgr`](https://github.com/centrifuge/tinlake-maker-lib/blob/master/src/mgr.sol) (it is a Centrifuge integration), additional `TinlakeMgr.cull()` call is present | ||
| * [ ] OTHERWISE the write-off can only happen in a future spell |
Oops, something went wrong.