OptionsToken

An options token representing the right to purchase the underlying token at an oracle-specified rate. It's similar to a call option but with a variable strike price that's always at a certain discount to the market price. It also has no expiry date.

Installation

To install with DappTools:

dapp install timeless-fi/options-token

To install with Foundry:

forge install timeless-fi/options-token

Local development

This project uses Foundry as the development framework.

Dependencies

forge install

Compilation

forge build

Testing

forge test

Guide: Deploying POP 2.0

OptionsToken Repo

First, create the .env file and specify:

• POPCORN & WETH Token address
• RPC URLs
• ETHERSCAN_KEY for contract verification
• VERSION (the version that you use here, you'll also have to use for the rest of the deployment.)
• OWNER
• TREASURY (receives the WETH from the oPOP redemptions)

see .env.example

1. Deploying the Balancer Pool

Deploy using the DeployBalancerPool.s.sol script: https://github.com/Popcorn-Limited/options-token/blob/main/script/DeployBalancerPool.s.sol

First, adjust:

• the pool factory address
  • mainnet
  • arbitrum

The pool deployment will fail, if token A > token B. For mainnet this is not an issue because WETH address < POP address. Not sure whether that's also true for Arbitrum.

forge script script/DeployBalancerPool.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast --verify --delay 30

2. Initializing the Balancer Pool

Deploy using the InitBalancerPool.s.sol script: https://github.com/Popcorn-Limited/options-token/blob/main/script/InitBalancerPool.s.sol

Adjust the input amounts on line 19 for WETH and 20 for POP. Decide a $ amount you want to put in and make sure that 20% of this value comes from the WETH-amount and 80% from the POP-amount.

forge script script/InitBalancerPool.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast --verify --delay 30

3. Deploy OptionsToken

adjust the .env file again:

• add the balancer pool address
• specify the oracle configuration, e.g.
  • ORACLE_MULTIPLIER = 5000 (50%)
  • ORACLE_SECS = 43200 (12 hour oracle window)
  • ORACLE_AGO = 0 (most recent 12 hours)
  • ORACLE_MIN_PRICE = 1e9 (1 Gwei minimum price)
• specify the OptionToken's name and symbol and the payment address (WETH)

forge script script/Deploy.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast --verify --delay 30

Gauges

First, create the .env file and specify:

• VERSION (same as the one used for OptionsToken)
• ADMIN (address of the deployer, should be same as the one used for OptionsToken)
• VAULT_REGISTRY
• LOCK_TOKEN (POP)

The deployment here is a little tricky because we have vyper files with three different versions:

• BoostV2.vy uses 0.3.3
• DelegationProxy.vy uses 0.2.15
• Rest uses 0.3.7

Each have to be deployed independently in an environment where the given vyper version's compiler is installed.

BoostV2

forge script script/DeployBoostV2.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast --verify --delay 30

DelegationProxy

forge script script/DeployDelegationProxy.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast --verify --delay 30

Rest of the vePOP files

forge script script/Deploy.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast --verify --delay 30

Deploying Gauges

You can specify a list of vaults for which gauges should be deployed in the .env file:

INITIAL_VAULTS=0x123,0x456,0x5678 and so on The TokenAdmin must be activated for this to work. Activating the TokenAdmin will also start the oToken distribution.

Then you execute:

forge script script/DeployGauges.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast --verify --delay 30

That'll create a gauge for all the vaults you specified and set the tokenless_production to 20.

Activate Token Admin

This will start the oPOP distribution.

forge script script/ActivateTokenAdmin.s.sol --keystores ~/path/to/keystore/file --password "<keystore-password>" --rpc-url $RPC_URL_GOERLI --broadcast