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Merged
devmicwal merged 2 commits into from
Nov 28, 2025
Merged

feat: enhance Treasury and Relay contracts to support new quote token #4

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6471c95
feat: enhance Treasury and Relay contracts to support new quote token…
pawell24-blocky-devs Nov 26, 2025
09e93ae
fix: update access control for proposeBuybackAndBurn function to use …
pawell24-blocky-devs Nov 27, 2025
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15 changes: 14 additions & 1 deletion script/Treasury.s.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -8,24 +8,37 @@ import {Treasury} from "../src/Treasury.sol";
contract DeployTreasury is Script {
function run() external {
address htkToken = vm.envAddress("HTK_TOKEN_ADDRESS");
address quoteToken = vm.envAddress("QUOTE_TOKEN_ADDRESS");
uint24 quoteToHtkFee = uint24(vm.envUint("QUOTE_TO_HTK_FEE"));
address swapAdapter = vm.envOr("SWAP_ADAPTER_ADDRESS", address(0));
address daoAdmin = vm.envOr("DAO_ADMIN_ADDRESS", msg.sender);
address relay = vm.envOr("RELAY_ADDRESS", msg.sender);
address burnSink = vm.envOr("BURN_SINK_ADDRESS", address(0xdead));

require(htkToken != address(0), "HTK_TOKEN_ADDRESS not set");
require(quoteToken != address(0), "QUOTE_TOKEN_ADDRESS not set");
require(quoteToHtkFee > 0, "QUOTE_TO_HTK_FEE not set");
require(swapAdapter != address(0), "SWAP_ADAPTER_ADDRESS not set");
require(daoAdmin != address(0), "DAO_ADMIN_ADDRESS not set");
require(relay != address(0), "RELAY_ADDRESS not set");
require(burnSink != address(0), "BURN_SINK_ADDRESS not set");
address whbar = vm.envAddress("WHBAR_TOKEN_ADDRESS");
require(whbar != address(0), "WHBAR_TOKEN_ADDRESS not set");

console.log("Deployer:", msg.sender);
console.log("HTK Token:", htkToken);
console.log("Quote Token:", quoteToken);
console.log("Quote -> HTK fee:", quoteToHtkFee);
console.log("Swap Adapter:", swapAdapter);
console.log("DAO Admin:", daoAdmin);
console.log("Relay:", relay);
console.log("Burn sink:", burnSink);
console.log("WHBAR:", whbar);

vm.startBroadcast();

Treasury treasury = new Treasury(htkToken, swapAdapter, daoAdmin, relay);
Treasury treasury =
new Treasury(htkToken, quoteToken, quoteToHtkFee, swapAdapter, daoAdmin, relay, burnSink, whbar);

vm.stopBroadcast();

Expand Down
46 changes: 40 additions & 6 deletions src/Relay.sol
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Expand Up @@ -213,26 +213,31 @@ contract Relay is AccessControl, ReentrancyGuard {
/**
* @notice Submit a buyback-and-burn trade proposal
* @param tokenIn Address of input token
* @param path Encoded swap path for the adapter
* @param pathToQuote Path from tokenIn to QUOTE_TOKEN (empty if tokenIn == QUOTE_TOKEN)
* @param amountIn Amount of tokenIn to swap for HTK
* @param minQuoteOut Minimum QUOTE_TOKEN out when swapping tokenIn -> QUOTE_TOKEN
* @param minAmountOut Minimum HTK to receive
* @param maxHtkPriceD18 Maximum acceptable HTK price in 18d format (quote/htk)
* @param deadline Swap deadline timestamp
* @return burnedAmount Amount of HTK burned
*/
function proposeBuybackAndBurn(
address tokenIn,
bytes calldata path,
bytes calldata pathToQuote,
uint256 amountIn,
uint256 minQuoteOut,
uint256 minAmountOut,
uint256 expectedAmountOut,
uint256 maxHtkPriceD18,
uint256 deadline
) external onlyRole(TRADER_ROLE) nonReentrant returns (uint256 burnedAmount, bytes32[] memory reasonCodes) {
address htkToken = TREASURY.HTK_TOKEN();
emit TradeProposed(
msg.sender, TradeType.BUYBACK_AND_BURN, tokenIn, htkToken, amountIn, minAmountOut, block.timestamp
);
require(path.length > 0, "Relay: Invalid path");
ValidationResult memory vr = _validateTrade(tokenIn, htkToken, amountIn, minAmountOut, expectedAmountOut);
if (tokenIn != TREASURY.QUOTE_TOKEN()) {
require(pathToQuote.length > 0, "Relay: Invalid path to quote");
}
ValidationResult memory vr = _validateTrade(tokenIn, htkToken, amountIn, minAmountOut, minAmountOut);
if (!vr.isValid) {
emit TradeValidationFailed(
msg.sender,
Expand Down Expand Up @@ -261,7 +266,9 @@ contract Relay is AccessControl, ReentrancyGuard {
block.timestamp
);
lastTradeTimestamp = block.timestamp;
burnedAmount = TREASURY.executeBuybackAndBurn(tokenIn, path, amountIn, minAmountOut, deadline);
burnedAmount = TREASURY.executeBuybackAndBurn(
tokenIn, pathToQuote, amountIn, minQuoteOut, minAmountOut, maxHtkPriceD18, deadline
);
emit TradeForwarded(
msg.sender, TradeType.BUYBACK_AND_BURN, tokenIn, htkToken, amountIn, burnedAmount, block.timestamp
);
Expand Down Expand Up @@ -437,4 +444,31 @@ contract Relay is AccessControl, ReentrancyGuard {
}
revert("Relay: validator not found");
}

function _extractPathEndpoints(bytes memory path) private pure returns (address start, address end) {
if (path.length == 0) {
return (address(0), address(0));
}

// fee-style path: token(20) + [fee(3) + token(20)]*
if (path.length >= 43 && (path.length - 20) % 23 == 0) {
start = _readAddress(path, 0);
uint256 tokenCount = 1 + (path.length - 20) / 23;
uint256 lastOffset = 23 * (tokenCount - 1);
end = _readAddress(path, lastOffset);
return (start, end);
}

address[] memory decoded = abi.decode(path, (address[]));
require(decoded.length >= 2, "Relay: Invalid path");
start = decoded[0];
end = decoded[decoded.length - 1];
}

function _readAddress(bytes memory data, uint256 start) private pure returns (address addr) {
require(data.length >= start + 20, "Relay: path read overflow");
assembly {
addr := shr(96, mload(add(add(data, 0x20), start)))
}
}
}
207 changes: 169 additions & 38 deletions src/Treasury.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -4,6 +4,7 @@ pragma solidity ^0.8.20;

import {AccessControl} from "../lib/openzeppelin-contracts/contracts/access/AccessControl.sol";
import {SafeERC20, IERC20} from "../lib/openzeppelin-contracts/contracts/token/ERC20/utils/SafeERC20.sol";
import {IERC20Metadata} from "../lib/openzeppelin-contracts/contracts/token/ERC20/extensions/IERC20Metadata.sol";
import {ReentrancyGuard} from "../lib/openzeppelin-contracts/contracts/utils/ReentrancyGuard.sol";
import {ISwapAdapter} from "./interfaces/ISwapAdapter.sol";

Expand All @@ -21,7 +22,11 @@ contract Treasury is AccessControl, ReentrancyGuard {

// Immutable config
address public immutable HTK_TOKEN;
address public immutable QUOTE_TOKEN; // e.g. USDC used for buybacks
uint24 public immutable quoteToHtkFee;
ISwapAdapter public adapter;
address public whbarToken;
address public burnSink;

// HTS precompile
address private constant HTS = address(0x167);
Expand All @@ -45,19 +50,39 @@ contract Treasury is AccessControl, ReentrancyGuard {
event Burned(uint256 amount, address indexed initiator, uint256 timestamp);
event RelayUpdated(address indexed oldRelay, address indexed newRelay, uint256 timestamp);
event AdapterUpdated(address indexed oldAdapter, address indexed newAdapter, uint256 timestamp);
event WhbarTokenUpdated(address indexed oldWhbar, address indexed newWhbar, uint256 timestamp);
event BurnSinkUpdated(address indexed oldSink, address indexed newSink, uint256 timestamp);

// Association
event TreasuryAssociated(address indexed token);
event TreasuryBatchAssociated(uint256 count);

constructor(address _htkToken, address _adapter, address _admin, address _relay) {
constructor(
address _htkToken,
address _quoteToken,
uint24 _quoteToHtkFee,
address _adapter,
address _admin,
address _relay,
address _burnSink,
address _whbarToken
) {
require(_htkToken != address(0), "Treasury: Invalid HTK token");
require(_quoteToken != address(0), "Treasury: Invalid quote token");
require(_quoteToken != _htkToken, "Treasury: quote token equals HTK");
require(_quoteToHtkFee > 0, "Treasury: Invalid pool fee");
require(_adapter != address(0), "Treasury: Invalid adapter");
require(_admin != address(0), "Treasury: Invalid admin");
require(_relay != address(0), "Treasury: Invalid relay");
require(_burnSink != address(0), "Treasury: Invalid burn sink");
require(_whbarToken != address(0), "Treasury: Invalid WHBAR");

HTK_TOKEN = _htkToken;
QUOTE_TOKEN = _quoteToken;
quoteToHtkFee = _quoteToHtkFee;
adapter = ISwapAdapter(_adapter);
burnSink = _burnSink;
whbarToken = _whbarToken;

_grantRole(DEFAULT_ADMIN_ROLE, _admin);
_grantRole(DAO_ROLE, _admin);
Expand Down Expand Up @@ -87,21 +112,113 @@ contract Treasury is AccessControl, ReentrancyGuard {
// ------------ Buyback & burn (ExactTokensForTokens) ------------

function executeBuybackAndBurn(
address tokenIn,
bytes calldata path,
address tokenToSell,
bytes calldata pathToQuote,
uint256 amountIn,
uint256 amountOutMin,
uint256 minQuoteOut,
uint256 minHtkOut,
uint256 maxHtkPriceD18,
uint256 deadline
) external onlyRole(RELAY_ROLE) nonReentrant returns (uint256 burnedAmount) {
require(tokenIn != address(0), "Treasury: Invalid token");
require(tokenIn != HTK_TOKEN, "Treasury: Cannot swap HTK for HTK");
) external payable onlyRole(RELAY_ROLE) nonReentrant returns (uint256 burnedAmount) {
address quote = QUOTE_TOKEN;
bool isHbar = tokenToSell == whbarToken;
require(tokenToSell != HTK_TOKEN, "Treasury: Cannot swap HTK for HTK");
require(amountIn > 0, "Treasury: Zero amount");
require(minHtkOut > 0, "Treasury: Zero minOut");
require(deadline >= block.timestamp, "Treasury: Expired deadline");
require(path.length > 0, "Treasury: Invalid path");
require(IERC20(tokenIn).balanceOf(address(this)) >= amountIn, "Treasury: Insufficient balance");
if (isHbar) {
require(address(this).balance >= amountIn, "Treasury: Insufficient balance");
} else {
require(IERC20(tokenToSell).balanceOf(address(this)) >= amountIn, "Treasury: Insufficient balance");
}

// Build quote->HTK path
bytes memory quoteToHtkPath = _encodeFeePath(quote, HTK_TOKEN, quoteToHtkFee);
(address quoteStart, address quoteEnd) = _extractPathEndpoints(quoteToHtkPath);
require(quoteStart == quote, "Treasury: quote path start mismatch");
require(quoteEnd == HTK_TOKEN, "Treasury: quote path end mismatch");

uint256 quoteAmount;
if (isHbar) {
require(pathToQuote.length > 0, "Treasury: Path required");
(address startHbar, address endHbar) = _extractPathEndpoints(pathToQuote);
require(startHbar == whbarToken, "Treasury: Path must start with WHBAR");
require(endHbar == quote, "Treasury: Path must end in quote");

ISwapAdapter.SwapRequest memory hbarToQuote = ISwapAdapter.SwapRequest({
kind: ISwapAdapter.SwapKind.ExactHBARForTokens,
tokenIn: address(0),
path: pathToQuote,
recipient: address(this),
deadline: deadline,
amountIn: amountIn,
amountOut: 0,
amountInMaximum: amountIn,
amountOutMinimum: minQuoteOut
});

(, quoteAmount) = adapter.swap{value: amountIn}(hbarToQuote);
require(quoteAmount >= minQuoteOut, "Treasury: Insufficient quote out");
} else if (tokenToSell == quote) {
// direct quote -> HTK, optional pathToQuote ignored
quoteAmount = amountIn;
} else {
require(pathToQuote.length > 0, "Treasury: Path required");
(address start, address end) = _extractPathEndpoints(pathToQuote);
require(start == tokenToSell, "Treasury: Path start mismatch");
require(end == quote, "Treasury: Path must end in quote");

IERC20(tokenToSell).forceApprove(address(adapter), 0);
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@BartoszSolkaBD BartoszSolkaBD Nov 27, 2025

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is there a need for approval reset? Won't the next line override the approval?

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@pawell24-blocky-devs pawell24-blocky-devs Nov 27, 2025

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forceApprove(..., 0) is intentional, some ERC20s (USDT) revert if you change a non-zero allowance without resetting to zero first

IERC20(tokenToSell).forceApprove(address(adapter), amountIn);

ISwapAdapter.SwapRequest memory toQuote = ISwapAdapter.SwapRequest({
kind: ISwapAdapter.SwapKind.ExactTokensForTokens,
tokenIn: tokenToSell,
path: pathToQuote,
recipient: address(this),
deadline: deadline,
amountIn: amountIn,
amountOut: 0,
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@BartoszSolkaBD BartoszSolkaBD Nov 27, 2025

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why 0?

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@pawell24-blocky-devs pawell24-blocky-devs Nov 27, 2025

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amountOut: 0 - in exact-in requests is unused, exact-in flows enforce amountOutMinimum. We set it to zero to signal it’s ignored

amountInMaximum: amountIn,
amountOutMinimum: minQuoteOut
});

(, quoteAmount) = adapter.swap(toQuote);
require(quoteAmount >= minQuoteOut, "Treasury: Insufficient quote out");
}

uint256 htkReceived = _buybackExact(tokenIn, path, amountIn, amountOutMin, deadline);
emit BuybackExecuted(tokenIn, amountIn, htkReceived, msg.sender, block.timestamp);
// Price guard (skip if maxHtkPriceD18 == type(uint256).max)
if (maxHtkPriceD18 != type(uint256).max) {
uint8 quoteDec = IERC20Metadata(quote).decimals();
uint8 htkDec = IERC20Metadata(HTK_TOKEN).decimals();
uint256 quote18 =
quoteDec <= 18 ? quoteAmount * (10 ** (18 - quoteDec)) : quoteAmount / (10 ** (quoteDec - 18));
uint256 htkMin18 = htkDec <= 18 ? minHtkOut * (10 ** (18 - htkDec)) : minHtkOut / (10 ** (htkDec - 18));
require(htkMin18 > 0, "Treasury: minOut underflow");
uint256 priceD18 = (quote18 * 1e18) / htkMin18;
require(priceD18 <= maxHtkPriceD18, "Treasury: HTK price too high");
}

// Swap quote -> HTK
IERC20(quote).forceApprove(address(adapter), 0);
IERC20(quote).forceApprove(address(adapter), quoteAmount);

ISwapAdapter.SwapRequest memory toHtk = ISwapAdapter.SwapRequest({
kind: ISwapAdapter.SwapKind.ExactTokensForTokens,
tokenIn: quote,
path: quoteToHtkPath,
recipient: address(this),
deadline: deadline,
amountIn: quoteAmount,
amountOut: 0,
amountInMaximum: quoteAmount,
amountOutMinimum: minHtkOut
});

(, uint256 htkReceived) = adapter.swap(toHtk);
require(htkReceived >= minHtkOut, "Treasury: Insufficient output");

emit BuybackExecuted(tokenToSell, amountIn, htkReceived, msg.sender, block.timestamp);

burnedAmount = _burn(htkReceived);
return burnedAmount;
Expand Down Expand Up @@ -276,43 +393,57 @@ contract Treasury is AccessControl, ReentrancyGuard {
emit AdapterUpdated(old, newAdapter, block.timestamp);
}

// ------------ Internal ------------

function _buybackExact(
address tokenIn,
bytes calldata path,
uint256 amountIn,
uint256 amountOutMin,
uint256 deadline
) private returns (uint256 htkReceived) {
IERC20(tokenIn).forceApprove(address(adapter), 0);
IERC20(tokenIn).forceApprove(address(adapter), amountIn);

ISwapAdapter.SwapRequest memory request = ISwapAdapter.SwapRequest({
kind: ISwapAdapter.SwapKind.ExactTokensForTokens,
tokenIn: tokenIn,
path: path,
recipient: address(this),
deadline: deadline,
amountIn: amountIn,
amountOut: 0,
amountInMaximum: amountIn,
amountOutMinimum: amountOutMin
});
function setWhbarToken(address newWhbar) external onlyRole(DAO_ROLE) {
require(newWhbar != address(0), "Treasury: Invalid WHBAR");
address old = whbarToken;
require(newWhbar != old, "Treasury: Same WHBAR");
whbarToken = newWhbar;
emit WhbarTokenUpdated(old, newWhbar, block.timestamp);
}

(, htkReceived) = adapter.swap(request);
require(htkReceived >= amountOutMin, "Treasury: Insufficient output");
return htkReceived;
function setBurnSink(address newSink) external onlyRole(DAO_ROLE) {
require(newSink != address(0), "Treasury: Invalid burn sink");
address old = burnSink;
require(newSink != old, "Treasury: Same burn sink");
burnSink = newSink;
emit BurnSinkUpdated(old, newSink, block.timestamp);
}

// ------------ Internal ------------

function _burn(uint256 amount) private returns (uint256) {
require(amount > 0, "Treasury: Zero burn amount");
// Reminder: native HTS burn typically requires a role. Here we send to a dead address instead
IERC20(HTK_TOKEN).safeTransfer(address(0xdead), amount);
IERC20(HTK_TOKEN).safeTransfer(burnSink, amount);
emit Burned(amount, msg.sender, block.timestamp);
return amount;
}

function _extractPathEndpoints(bytes memory path) private pure returns (address start, address end) {
if (path.length >= 43 && (path.length - 20) % 23 == 0) {
start = _readAddress(path, 0);
uint256 tokenCount = 1 + (path.length - 20) / 23;
uint256 lastOffset = 23 * (tokenCount - 1);
end = _readAddress(path, lastOffset);
return (start, end);
}
address[] memory decoded = abi.decode(path, (address[]));
require(decoded.length >= 2, "Treasury: Invalid path");
start = decoded[0];
end = decoded[decoded.length - 1];
}

function _encodeFeePath(address tokenA, address tokenB, uint24 fee) private pure returns (bytes memory data) {
data = abi.encodePacked(tokenA, fee, tokenB);
}

function _readAddress(bytes memory data, uint256 start) private pure returns (address addr) {
require(data.length >= start + 20, "Treasury: path read overflow");
assembly {
addr := shr(96, mload(add(add(data, 0x20), start)))
}
}

// ------------ Hedera HTS: association ------------

function associateTreasuryToToken(address token) external onlyRole(DAO_ROLE) {
Expand Down
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