/
MarketManagerModule.sol
386 lines (320 loc) · 13.4 KB
/
MarketManagerModule.sol
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//SPDX-License-Identifier: MIT
pragma solidity >=0.8.11 <0.9.0;
import "../../interfaces/IMarketManagerModule.sol";
import "../../interfaces/IUSDTokenModule.sol";
import "../../interfaces/external/IMarket.sol";
import "@synthetixio/core-contracts/contracts/errors/AccessError.sol";
import "@synthetixio/core-contracts/contracts/ownership/OwnableStorage.sol";
import "@synthetixio/core-contracts/contracts/utils/SafeCast.sol";
import "@synthetixio/core-contracts/contracts/utils/ERC165Helper.sol";
import "@synthetixio/core-contracts/contracts/utils/HeapUtil.sol";
import "@synthetixio/core-contracts/contracts/utils/ERC2771Context.sol";
import "../../storage/Config.sol";
import "../../storage/Market.sol";
import "../../storage/MarketCreator.sol";
import "../../storage/Distribution.sol";
import "@synthetixio/core-modules/contracts/storage/AssociatedSystem.sol";
import "@synthetixio/core-modules/contracts/storage/FeatureFlag.sol";
import "@synthetixio/core-contracts/contracts/errors/ParameterError.sol";
/**
* @title System-wide entry point for the management of markets connected to the system.
* @dev See IMarketManagerModule.
*/
contract MarketManagerModule is IMarketManagerModule {
using SafeCastU128 for uint128;
using SafeCastU256 for uint256;
using SafeCastI128 for int128;
using SafeCastI256 for int256;
using Market for Market.Data;
using AssociatedSystem for AssociatedSystem.Data;
using Distribution for Distribution.Data;
using HeapUtil for HeapUtil.Data;
using DecimalMath for uint256;
bytes32 private constant _USD_TOKEN = "USDToken";
bytes32 private constant _MARKET_FEATURE_FLAG = "registerMarket";
bytes32 private constant _DEPOSIT_MARKET_FEATURE_FLAG = "depositMarketUsd";
bytes32 private constant _WITHDRAW_MARKET_FEATURE_FLAG = "withdrawMarketUsd";
bytes32 private constant _CONFIG_SET_MARKET_MIN_DELEGATE_MAX = "setMarketMinDelegateTime_max";
bytes32 private constant _CONFIG_DEPOSIT_MARKET_USD_FEE_RATIO = "depositMarketUsd_feeRatio";
bytes32 private constant _CONFIG_WITHDRAW_MARKET_USD_FEE_RATIO = "withdrawMarketUsd_feeRatio";
bytes32 private constant _CONFIG_DEPOSIT_MARKET_USD_FEE_ADDRESS = "depositMarketUsd_feeAddress";
bytes32 private constant _CONFIG_WITHDRAW_MARKET_USD_FEE_ADDRESS =
"withdrawMarketUsd_feeAddress";
/**
* @inheritdoc IMarketManagerModule
*/
function registerMarket(address market) external override returns (uint128 marketId) {
FeatureFlag.ensureAccessToFeature(_MARKET_FEATURE_FLAG);
if (!ERC165Helper.safeSupportsInterface(market, type(IMarket).interfaceId)) {
revert IncorrectMarketInterface(market);
}
marketId = MarketCreator.create(market).id;
emit MarketRegistered(market, marketId, ERC2771Context._msgSender());
return marketId;
}
/**
* @inheritdoc IMarketManagerModule
*/
function getWithdrawableMarketUsd(uint128 marketId) public view override returns (uint256) {
int256 withdrawable = Market.load(marketId).creditCapacityD18 +
Market.load(marketId).getDepositedCollateralValue().toInt();
return withdrawable < 0 ? 0 : withdrawable.toUint();
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketAddress(uint128 marketId) external view override returns (address) {
return Market.load(marketId).marketAddress;
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketNetIssuance(uint128 marketId) external view override returns (int128) {
return Market.load(marketId).netIssuanceD18;
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketReportedDebt(uint128 marketId) external view override returns (uint256) {
return Market.load(marketId).getReportedDebt();
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketCollateral(uint128 marketId) external view override returns (uint256) {
return Market.load(marketId).poolsDebtDistribution.totalSharesD18;
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketTotalDebt(uint128 marketId) external view override returns (int256) {
return Market.load(marketId).totalDebt();
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketDebtPerShare(uint128 marketId) external override returns (int256) {
Market.Data storage market = Market.load(marketId);
market.distributeDebtToPools(999999999);
return market.getDebtPerShare();
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketPools(
uint128 marketId
)
external
override
returns (uint128[] memory inRangePoolIds, uint128[] memory outRangePoolIds)
{
Market.Data storage market = Market.load(marketId);
market.distributeDebtToPools(999999999);
HeapUtil.Data storage inRangePools = market.inRangePools;
inRangePoolIds = new uint128[](inRangePools.size());
for (uint256 i = 1; i <= inRangePools.size(); i++) {
HeapUtil.Node memory node = inRangePools.getByIndex(i);
inRangePoolIds[i - 1] = node.id;
}
HeapUtil.Data storage outRangePools = market.outRangePools;
outRangePoolIds = new uint128[](outRangePools.size());
for (uint256 i = 1; i <= outRangePools.size(); i++) {
HeapUtil.Node memory node = outRangePools.getByIndex(i);
outRangePoolIds[i - 1] = node.id;
}
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketPoolDebtDistribution(
uint128 marketId,
uint128 poolId
)
external
override
returns (uint256 sharesD18, uint128 totalSharesD18, int128 valuePerShareD27)
{
Market.Data storage market = Market.load(marketId);
market.distributeDebtToPools(999999999);
Distribution.Data storage poolDistribution = market.poolsDebtDistribution;
sharesD18 = poolDistribution.getActorShares(poolId.toBytes32());
totalSharesD18 = market.poolsDebtDistribution.totalSharesD18;
valuePerShareD27 = market.poolsDebtDistribution.valuePerShareD27;
}
/**
* @inheritdoc IMarketManagerModule
*/
function isMarketCapacityLocked(uint128 marketId) external view override returns (bool) {
return Market.load(marketId).isCapacityLocked();
}
function getUsdToken() external view override returns (IERC20) {
return AssociatedSystem.load(_USD_TOKEN).asToken();
}
function getOracleManager() external view returns (IOracleManager) {
return IOracleManager(OracleManager.load().oracleManagerAddress);
}
/**
* @inheritdoc IMarketManagerModule
*/
function depositMarketUsd(
uint128 marketId,
address target,
uint256 amount
) external override returns (uint256 feeAmount) {
FeatureFlag.ensureAccessToFeature(_DEPOSIT_MARKET_FEATURE_FLAG);
Market.Data storage market = Market.load(marketId);
// Call must come from the market itself.
if (ERC2771Context._msgSender() != market.marketAddress)
revert AccessError.Unauthorized(ERC2771Context._msgSender());
feeAmount = amount.mulDecimal(Config.readUint(_CONFIG_DEPOSIT_MARKET_USD_FEE_RATIO, 0));
address feeAddress = address(0);
address configFeeAddress = Config.readAddress(
_CONFIG_DEPOSIT_MARKET_USD_FEE_ADDRESS,
address(0)
);
if (feeAmount > 0 && configFeeAddress != address(0)) {
feeAddress = configFeeAddress;
}
// verify if the market is authorized to burn the USD for the target
ITokenModule usdToken = AssociatedSystem.load(_USD_TOKEN).asToken();
// Adjust accounting.
market.creditCapacityD18 += (amount - feeAmount).toInt().to128();
market.netIssuanceD18 -= (amount - feeAmount).toInt().to128();
// Burn the incoming USD.
// Note: Instead of burning, we could transfer USD to and from the MarketManager,
// but minting and burning takes the USD out of circulation,
// which doesn't affect `totalSupply`, thus simplifying accounting.
IUSDTokenModule(address(usdToken)).burnWithAllowance(
target,
ERC2771Context._msgSender(),
amount
);
if (feeAmount > 0 && feeAddress != address(0)) {
IUSDTokenModule(address(usdToken)).mint(feeAddress, feeAmount);
emit MarketSystemFeePaid(marketId, feeAmount);
}
emit MarketUsdDeposited(
marketId,
target,
amount,
ERC2771Context._msgSender(),
market.creditCapacityD18,
market.netIssuanceD18,
market.getDepositedCollateralValue(),
market.getReportedDebt()
);
}
/**
* @inheritdoc IMarketManagerModule
*/
function withdrawMarketUsd(
uint128 marketId,
address target,
uint256 amount
) external override returns (uint256 feeAmount) {
FeatureFlag.ensureAccessToFeature(_WITHDRAW_MARKET_FEATURE_FLAG);
Market.Data storage marketData = Market.load(marketId);
// Call must come from the market itself.
if (ERC2771Context._msgSender() != marketData.marketAddress)
revert AccessError.Unauthorized(ERC2771Context._msgSender());
// Ensure that the market's balance allows for this withdrawal.
feeAmount = amount.mulDecimal(Config.readUint(_CONFIG_WITHDRAW_MARKET_USD_FEE_RATIO, 0));
if (amount + feeAmount > getWithdrawableMarketUsd(marketId))
revert NotEnoughLiquidity(marketId, amount);
address feeAddress = address(0);
address configFeeAddress = Config.readAddress(
_CONFIG_WITHDRAW_MARKET_USD_FEE_ADDRESS,
address(0)
);
if (feeAmount > 0 && configFeeAddress != address(0)) {
feeAddress = configFeeAddress;
}
// Adjust accounting.
marketData.creditCapacityD18 -= (amount + feeAmount).toInt().to128();
marketData.netIssuanceD18 += (amount + feeAmount).toInt().to128();
// Mint the requested USD.
AssociatedSystem.load(_USD_TOKEN).asToken().mint(target, amount);
if (feeAmount > 0 && feeAddress != address(0)) {
AssociatedSystem.load(_USD_TOKEN).asToken().mint(feeAddress, feeAmount);
emit MarketSystemFeePaid(marketId, feeAmount);
}
emit MarketUsdWithdrawn(
marketId,
target,
amount,
ERC2771Context._msgSender(),
marketData.creditCapacityD18,
marketData.netIssuanceD18,
marketData.getDepositedCollateralValue(),
marketData.getReportedDebt()
);
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketFees(
uint128,
uint256 amount
) external view override returns (uint256 depositFeeAmount, uint256 withdrawFeeAmount) {
depositFeeAmount = amount.mulDecimal(
Config.readUint(_CONFIG_DEPOSIT_MARKET_USD_FEE_RATIO, 0)
);
withdrawFeeAmount = amount.mulDecimal(
Config.readUint(_CONFIG_WITHDRAW_MARKET_USD_FEE_RATIO, 0)
);
}
/**
* @inheritdoc IMarketManagerModule
*/
function distributeDebtToPools(
uint128 marketId,
uint256 maxIter
) external override returns (bool) {
return Market.load(marketId).distributeDebtToPools(maxIter);
}
/**
* @inheritdoc IMarketManagerModule
*/
function setMarketMinDelegateTime(uint128 marketId, uint32 minDelegateTime) external override {
Market.Data storage market = Market.load(marketId);
if (ERC2771Context._msgSender() != market.marketAddress)
revert AccessError.Unauthorized(ERC2771Context._msgSender());
// min delegate time should not be unreasonably long
uint256 maxMinDelegateTime = Config.readUint(
_CONFIG_SET_MARKET_MIN_DELEGATE_MAX,
86400 * 30
);
if (minDelegateTime > maxMinDelegateTime) {
revert ParameterError.InvalidParameter("minDelegateTime", "must not be too large");
}
market.minDelegateTime = minDelegateTime;
emit SetMinDelegateTime(marketId, minDelegateTime);
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMarketMinDelegateTime(uint128 marketId) external view override returns (uint32) {
// solhint-disable-next-line numcast/safe-cast
uint32 maxMinDelegateTime = uint32(
Config.readUint(_CONFIG_SET_MARKET_MIN_DELEGATE_MAX, 86400 * 30)
);
uint32 marketMinDelegateTime = Market.load(marketId).minDelegateTime;
return
maxMinDelegateTime < marketMinDelegateTime ? maxMinDelegateTime : marketMinDelegateTime;
}
/**
* @inheritdoc IMarketManagerModule
*/
function setMinLiquidityRatio(uint128 marketId, uint256 minLiquidityRatio) external override {
OwnableStorage.onlyOwner();
Market.Data storage market = Market.load(marketId);
market.minLiquidityRatioD18 = minLiquidityRatio;
emit SetMarketMinLiquidityRatio(marketId, minLiquidityRatio);
}
/**
* @inheritdoc IMarketManagerModule
*/
function getMinLiquidityRatio(uint128 marketId) external view override returns (uint256) {
return Market.load(marketId).minLiquidityRatioD18;
}
}