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Generalized Perp Vaults #47

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Generalized Perp Vaults #47

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73c368c
First commit all tests pass
Dec 19, 2021
7f59e41
Second commit all tests pass -1 change only-
Dec 20, 2021
7ea939f
First complete version
Dec 21, 2021
ad39e99
Aparna First PR comments
Jan 2, 2022
da61d8e
Generalized Test
Jan 4, 2022
52143aa
Performance fee added (#48)
DemolaJames Jan 12, 2022
3ae4e38
Completed Loss Test, Fixed remaining issues on calculations, Light cl…
Jan 13, 2022
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84 changes: 27 additions & 57 deletions contracts/actions/ShortOTokenActionWithSwap.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -8,10 +8,8 @@ import { SafeERC20 } from '@openzeppelin/contracts/token/ERC20/SafeERC20.sol';

import { IAction } from '../interfaces/IAction.sol';
import { IController } from '../interfaces/IController.sol';
import { ICurve } from '../interfaces/ICurve.sol';
import { IOracle } from '../interfaces/IOracle.sol';
import { IOToken } from '../interfaces/IOToken.sol';
import { IStakeDao } from '../interfaces/IStakeDao.sol';
import { IWETH } from '../interfaces/IWETH.sol';
import { SwapTypes } from '../libraries/SwapTypes.sol';
import { AirswapBase } from '../utils/AirswapBase.sol';
Expand Down Expand Up @@ -50,21 +48,16 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {
uint256 public rolloverTime;

IController public controller;
ICurve public curvePool;
IERC20 crvLPToken;
IOracle public oracle;
IStakeDao public stakedaoStrategy;
IERC20 underlying;

event MintAndSellOToken(uint256 collateralAmount, uint256 otokenAmount, uint256 premium);

constructor(
address _vault,
address _sdTokenAddress,
address _swap,
address _opynWhitelist,
address _controller,
address _curvePoolAddress,
uint256 _vaultType,
address _underlying,
uint256 _min_profits
Expand All @@ -74,17 +67,14 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {
underlying = IERC20(_underlying);

controller = IController(_controller);
curvePool = ICurve(_curvePoolAddress);

oracle = IOracle(controller.oracle());
stakedaoStrategy = IStakeDao(_sdTokenAddress);
crvLPToken = stakedaoStrategy.token();

// enable vault to take all the sdToken back and re-distribute.
IERC20(_sdTokenAddress).safeApprove(_vault, uint256(-1));
// enable vault to take all the underlying back and re-distribute.
underlying.safeApprove(_vault, uint256(-1));

// enable pool contract to pull sdToken from this contract to mint options.
IERC20(_sdTokenAddress).safeApprove(controller.pool(), uint256(-1));
// enable pool contract to pull underlying from this contract to mint options.
underlying.safeApprove(controller.pool(), uint256(-1));

_initSwapContract(_swap);
_initRollOverBase(_opynWhitelist);
Expand All @@ -101,11 +91,18 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {
* if the action has an opened gamma vault, see if there's any short position
*/
function currentValue() external view override returns (uint256) {
return stakedaoStrategy.balanceOf(address(this)).add(lockedAsset);
return underlying.balanceOf(address(this)).add(lockedAsset);

// todo: caclulate cash value to avoid not early withdraw to avoid loss.
}

/**
* @dev return the amount of locked asset in the action.
*/
function currentLockedAsset() external view override returns (uint256) {
return lockedAsset;
}

/**
* @dev the function that the vault will call when the round is over
*/
Expand Down Expand Up @@ -136,7 +133,7 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {
}

/**
* @dev owner only function to mint options with "crvLPToken" and sell otokens in this contract
* @dev owner only function to mint options with underlying and sell otokens in this contract
* by filling an order on AirSwap.
* this can only be done in "activated" state. which is achievable by calling `rolloverPosition`
*/
Expand All @@ -147,27 +144,23 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {
require(_order.signer.token == address(underlying), 'S5');
require(_order.sender.amount == _otokenAmount, 'S6');

// mint options
// mint options & lock asset
_mintOTokens(_collateralAmount, _otokenAmount);

lockedAsset = lockedAsset.add(_collateralAmount);

// this order matters a lot because we need to get the balance before selling otokens, after minting.
uint256 sdTokenBalanceBefore = stakedaoStrategy.balanceOf(address(this));
// underlying before minting
uint256 underlyingBalanceBefore = underlying.balanceOf(address(this));

// sell options on airswap for underlying
IERC20(otoken).safeIncreaseAllowance(address(airswap), _order.sender.amount);
_fillAirswapOrder(_order);

// convert the underlying received as premium to sdToken
_underlyingToSdToken();
// check that minimum premium is received & that it is higher than min threshold
uint256 underlyingBalanceAfter = underlying.balanceOf(address(this));
uint256 underlyingTokenEarned = underlyingBalanceAfter.sub(underlyingBalanceBefore);
require(_collateralAmount.mul(MIN_PROFITS).div(BASE) <= underlyingTokenEarned, 'S7');

// check that minimum premium is received
uint256 sdTokenBalanceAfter = stakedaoStrategy.balanceOf(address(this));
uint256 sdTokenEarned = sdTokenBalanceAfter.sub(sdTokenBalanceBefore);
require(_collateralAmount.mul(MIN_PROFITS).div(BASE) <= sdTokenEarned, 'S7');

emit MintAndSellOToken(_collateralAmount, _otokenAmount, sdTokenEarned);
emit MintAndSellOToken(_collateralAmount, _otokenAmount, underlyingTokenEarned);
}

/**
Expand Down Expand Up @@ -210,41 +203,19 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {
}

/**
* @dev add liquidity to curve, deposit into stakedao.
*/
function _underlyingToSdToken() internal {
uint256 underlyingBalance = underlying.balanceOf(address(this));

uint256[3] memory amounts;
amounts[0] = 0;
amounts[1] = underlyingBalance;
amounts[2] = 0;

// deposit underlying to curve
underlying.approve(address(curvePool), underlyingBalance);
curvePool.add_liquidity(amounts, 0); // minimum amount of crvLPToken to receive is 0
uint256 crvLPTokenToDeposit = crvLPToken.balanceOf(address(this));

// deposit crvLPToken to stakedao
crvLPToken.safeApprove(address(stakedaoStrategy), 0);
crvLPToken.safeApprove(address(stakedaoStrategy), crvLPTokenToDeposit);
stakedaoStrategy.deposit(crvLPTokenToDeposit);
}

/**
* @dev mint otoken in vault 0
* @dev mint otoken in vault 1
*/
function _mintOTokens(uint256 _collateralAmount, uint256 _otokenAmount) internal {
// this action will always use vault id 0
// this action will always use vault id 1
IController.ActionArgs[] memory actions = new IController.ActionArgs[](2);

actions[0] = IController.ActionArgs(
IController.ActionType.DepositCollateral,
address(this), // vault owner is this address
address(this), // deposit from this address
address(stakedaoStrategy), // collateral is sdToken
address(underlying), // collateral is the underlying
1, // vaultId is 1
_collateralAmount, // amount of sdToken to deposit
_collateralAmount, // amount of underlying to deposit
0, // index
"" // data
);
Expand All @@ -259,7 +230,7 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {
0, // index
"" // data
);

controller.operate(actions);
}

Expand Down Expand Up @@ -293,7 +264,6 @@ contract ShortOTokenActionWithSwap is IAction, AirswapBase, RollOverBase {

return false;
}


/**
* @dev funtion to add some custom logic to check the next otoken is valid to this strategy
Expand Down
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