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feat(readme): explaining the oracle creation from the factory
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tomrpl committed Mar 6, 2024
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# Morpho Blue Oracles


Morpho Blue Oracles are contracts that can be used as oracles for markets on [Morpho Blue](https://github.com/morpho-org/morpho-blue).
The oracles implement the `IOracle` interface defined in [`IOracle.sol`](https://github.com/morpho-org/morpho-blue/blob/main/src/interfaces/IOracle.sol#L9): they return the price of 1 asset of collateral token quoted in 1 asset of loan token.

## ChainlinkOracle
## MorphoChainlinkOracleV2

The `ChainlinkOracle` is an oracle that uses Chainlink-compliant feeds to provide price data.
The `MorphoChainlinkOracleV2` is an oracle that uses Chainlink-compliant feeds to provide price data.

This oracle handles the following cases among others (let's say that our pair is A/B):

- A/B is a feed (typically, stETH/ETH).
- B/A is a feed (typically, ETH/USDC).
- A/C and B/C are feeds (typically, stETH/ETH and USDC/ETH).
Expand All @@ -18,6 +18,34 @@ This oracle handles the following cases among others (let's say that our pair is
- A/C and C/B are feeds (typically, WBTC/BTC and BTC/ETH).
- A'/C and B/C are feeds, and there is an exchange rate between A and A'. (typically A=sDAI and A'=DAI).

## WstETH/stETH Exchange Rate Adapter

A specific implementation, the WstEthStEthExchangeRateChainlinkAdapter, provides the exchange rate between wstETH and stETH using Chainlink. This adapter is designed for precise, decentralized price feeds on Ethereum, ensuring compatibility with the MorphoChainlinkOracleV2 for markets involving these assets.

Deployed on Ethereum Mainnet, this adapter can be found in Ethereum Mainnet at the address [0x905b7dAbCD3Ce6B792D874e303D336424Cdb1421](https://etherscan.io/address/0x905b7dabcd3ce6b792d874e303d336424cdb1421#code). It's recommended for use as a reliable price feed source in Morpho oracles.

## MorphoChainlinkOracleV2Factory

The `MorphoChainlinkOracleV2Factory` is a factory that deploys `MorphoChainlinkOracleV2` instances.

The factory facilitates the easy creation and indexing of MorphoChainlinkOracleV2 oracles. Developed by Morpho Labs, this factory contract streamlines the process of deploying new oracles, catering to various market pairs without the need for deploying individual contracts manually for each pair.

### Usage

The Ethereum Mainnet address of this factory is [0x3A7bB36Ee3f3eE32A60e9f2b33c1e5f2E83ad766](https://etherscan.io/address/0x3a7bb36ee3f3ee32a60e9f2b33c1e5f2e83ad766#code).

To create a new `MorphoChainlinkOracleV2` oracle using the factory, call the createMorphoChainlinkOracleV2 function with the following parameters:

- `baseVault`: The ERC4626 token vault for the base asset.
- `baseVaultConversionSample`: A sample size for converting base vault units.
- `baseFeed1`, `baseFeed2`: Chainlink-interface-compliant data feeds for the base asset.
- `baseTokenDecimals`: Decimal precision of the base asset.
- `quoteVault`: The ERC4626 token vault for the quote asset.
- `quoteVaultConversionSample`: A sample size for converting quote vault units.
- `quoteFeed1`, `quoteFeed2`: Chainlink-interface-compliant data feeds for the quote asset.
- `quoteTokenDecimals`: Decimal precision of the quote asset.
- `salt`: A unique identifier to create deterministic addresses for deployed oracles.

## Getting Started

Install dependencies: `forge install`
Expand All @@ -28,22 +56,54 @@ Run test: `forge test`

## Deploy an Oracle

For example, to deploy a `ChainlinkOracle` on the Ethereum mainnet for the sDAI/USDC market, run:

```bash
forge create src/ChainlinkOracle.sol:ChainlinkOracle --constructor-args "0x83F20F44975D03b1b09e64809B757c47f942BEeA" "0xAed0c38402a5d19df6E4c03F4E2DceD6e29c1ee9" "0x0000000000000000000000000000000000000000" "0x8fFfFfd4AfB6115b954Bd326cbe7B4BA576818f6" "0x0000000000000000000000000000000000000000" "1000000000000000000" "18" "6" --rpc-url https://eth-mainnet.g.alchemy.com/v2/<alchemy-key> --from <deployer-address> --ledger
``````

And for the rETH/WETH market, run:

```bash
forge create src/ChainlinkOracle.sol:ChainlinkOracle --constructor-args "0x0000000000000000000000000000000000000000" "0x536218f9E9Eb48863970252233c8F271f554C2d0" "0x0000000000000000000000000000000000000000" "0x0000000000000000000000000000000000000000" "0x0000000000000000000000000000000000000000" "1" "18" "18" --rpc-url https://eth-mainnet.g.alchemy.com/v2/<alchemy-key> --from <deployer-address> --ledger
```
To deploy a `MorphoChainlinkOracleV2` on the Ethereum mainnet, use the `MorphoChainlinkOracleV2Factory` to create a new oracle.

Below are the arguments to fill for the creation of the WETH/USDT oracle:

- `baseVault`: 0x0000000000000000000000000000000000000000,
- `baseVaultConversionSample`:1,
- `baseFeed1`: 0x0000000000000000000000000000000000000000,
- `baseFeed2`: 0x0000000000000000000000000000000000000000,
- `baseTokenDecimals`:18,
- `quoteVault`:0x0000000000000000000000000000000000000000,
- `quoteVaultConversionSample`:1,
- `quoteFeed1`: 0xEe9F2375b4bdF6387aa8265dD4FB8F16512A1d46,
- `quoteFeed2`: 0x0000000000000000000000000000000000000000,
- `quoteTokenDecimals`:6,
- `salt`: <user-defined value used to make the address unique>,

and for the sDAI/USDC oracle:

- `baseVault`: 0x83f20f44975d03b1b09e64809b757c47f942beea,
- `baseVaultConversionSample`: 1e18,
- `baseFeed1`: 0xAed0c38402a5d19df6E4c03F4E2DceD6e29c1ee9,
- `baseFeed2`: 0x0000000000000000000000000000000000000000,
- `baseTokenDecimals`: 18,
- `quoteVault`: 0x0000000000000000000000000000000000000000,
- `quoteVaultConversionSample`: 1,
- `quoteFeed1`: 0x8fFfFfd4AfB6115b954Bd326cbe7B4BA576818f6,
- `quoteFeed2`: 0x0000000000000000000000000000000000000000,
- `quoteTokenDecimals`: 6,
- `salt`: <user-defined value used to make the address unique>,

and for the wstETH/ETH oracle:

- `baseVault`:0x0000000000000000000000000000000000000000,
- `baseVaultConversionSample`:1,
- `baseFeed1`:0x905b7dAbCD3Ce6B792D874e303D336424Cdb1421,
- `baseFeed2`:0x86392dC19c0b719886221c78AB11eb8Cf5c52812,
- `baseTokenDecimals`:18,
- `quoteVault`:0x0000000000000000000000000000000000000000,
- `quoteVaultConversionSample`:1,
- `quoteFeed1`:0x0000000000000000000000000000000000000000,
- `quoteFeed2`:0x0000000000000000000000000000000000000000,
- `quoteTokenDecimals`:18,
- `salt`: <user-defined value used to make the address unique>,

## Audits

All audits are stored in the [audits](./audits/)' folder.

## License

Morpho Blue Oracles are licensed under `GPL-2.0-or-later`, see [`LICENSE`](./LICENSE).
Morpho Blue Oracles are licensed under `GPL-2.0-or-later`, see [`LICENSE`](./LICENSE).

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