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#f03c15 ALL CODE EXAMPLES IN THIS WORKSHOP HAVE NOT BEEN AUDITED AND SHOULD NOT BE USED IN PRODUCTION. IF SO, IT IS DONE AT YOUR OWN RISK! #f03c15

Kyber Workshop

This repository is used as complement to the workshops conducted by Kyber. It can also be used to quickly test the Kyber contracts in your local machine.

Useful Links

  1. Introduction to Kyber Network
  2. Introduction to Reserves
  3. KyberDeveloper Portal
  4. KyberDeveloper Telegram
  5. Workshop Repository
  6. Ropsten ETH Faucets
  7. Ropsten KyberSwap

What is Kyber?

Kyber is a widely used on-chain protocol that makes accessing liquidity simple for users, DApps and financial applications. The protocol has powered decentralised token swaps on popular wallets like MyEtherWallet and imToken, decentralised token payments (users can pay in any supported ERC20 token) in popular DApps like Etheremon and Peepeth and providing an on-chain liquidity source for decentralised financial applications like MelonPort, Set Protocol, b0x and many more.

Kyber protocol brings token inventories and prices on-chain, hence allowing developers to directly embed value exchanges into their smart contracts without any technical or security overhead. This allows for:

  • Instant confirmation. A transaction happens with instant confirmation if it's sent from on-chain entities like smart contracts. Otherwise, once the transaction is included on the blockchain, the execution triggered by the transaction is immediately confirmed.

  • Operation certainty. There is no transactional risk. Users know the rate and how much liquidity is available before they commit their transaction. There is also no settlement uncertainty or counterparty risk.

  • Global and diverse pool of different tokens. Kyber welcomes token holders to contribute their token to the liquidity pool. By having their token made available to the liquidity pool, the token will be available in all services integrated with Kyber.

Prerequisites

  1. Node and NPM latest LTS versions. Download from nodejs.org

  2. Ganache

Install the Ganache AppImage by downloading here https://truffleframework.com/ganache. To use the provided Ganache snapshot, install ganache-cli.

sudo npm install -g ganache-cli
  1. Truffle

Install the latest Truffle v5.

sudo npm install -g truffle@latest

Truffle v5.0 is needed in order to take advantage of new features, such as using async/await in the migration scripts. You can read more about the new features in the Truffle release page

  1. Install the rest of the NPM packages
npm install

Workshop Repository

Overview

workshop
├── config
│   ├── network.json
│   └── tokens.json
├── contracts
│   ├── ConversionRatesInterface.sol
│   ├── ConversionRates.sol
│   ├── ERC20Interface.sol
│   ├── examples
│   │   ├── SwapEtherToToken.sol
│   │   ├── SwapTokenToEther.sol
│   │   └── SwapTokenToToken.sol
│   │   └── Trade.sol
│   ├── ExpectedRateInterface.sol
│   ├── ExpectedRate.sol
│   ├── FeeBurnerInterface.sol
│   ├── FeeBurner.sol
│   ├── KyberAutomatedReserve.sol
│   ├── KyberNetworkInterface.sol
│   ├── KyberNetworkProxyInterface.sol
│   ├── KyberNetworkProxy.sol
│   ├── KyberNetwork.sol
│   ├── KyberOrderbookReserve.sol
│   ├── KyberReserveInterface.sol
│   ├── KyberReserve.sol
│   ├── LiquidityConversionRates.sol
│   ├── LiquidityFormula.sol
│   ├── Migrations.sol
│   ├── mockTokens
│   │   ├── KyberGenesisToken.sol
│   │   ├── KyberNetworkCrystal.sol
│   │   ├── Mana.sol
│   │   ├── OmiseGo.sol
│   │   ├── Polymath.sol
│   │   ├── Salt.sol
│   │   ├── Status.sol
│   │   └── Zilliqa.sol
│   ├── PermissionGroups.sol
│   ├── permissionless
│   │   ├── OrderbookReserveInterface.sol
│   │   ├── OrderbookReserve.sol
│   │   ├── OrderIdManager.sol
│   │   ├── OrderListFactoryInterface.sol
│   │   ├── OrderListFactory.sol
│   │   ├── OrderListInterface.sol
│   │   ├── OrderList.sol
│   │   └── PermissionlessOrderbookReserveLister.sol
│   ├── SanityRatesInterface.sol
│   ├── SanityRates.sol
│   ├── SimpleNetworkInterface.sol
│   ├── Utils2.sol
│   ├── Utils.sol
│   ├── VolumeImbalanceRecorder.sol
│   ├── WhiteListInterface.sol
│   ├── WhiteList.sol
│   └── Withdrawable.sol
├── db
├── examples
│   ├── solidity
│   │   ├── SwapEtherToToken.sol -> ../../contracts/examples/SwapEtherToToken.sol
│   │   ├── SwapTokenToEther.sol -> ../../contracts/examples/SwapTokenToEther.sol
│   │   └── SwapTokenToToken.sol -> ../../contracts/examples/SwapTokenToToken.sol
│   │   └── Trade.sol -> ../../contracts/examples/Trade.sol
│   ├── truffle
│   │   ├── getExpectedRate.js
│   │   ├── swapEtherToToken.js
│   │   ├── swapTokenToEther.js
│   │   ├── swapTokenToToken.js
│   │   └── trade.js
│   └── web3
│   ├── abi
│   │   ├── KyberNetworkProxy.abi
│   │   ├── KNC.abi
│   │   ├── OMG.abi
│   │   ├── MANA.abi
│   │   ├── SALT.abi
│   │   └── ZIL.abi
│   ├── getExpectedRate.js
│   ├── swapEtherToToken.js
│   ├── swapTokenToEther.js
│   └── swapTokenToToken.js
├── LICENSE
├── migrations
│   ├── 1_initial_migration.js
│   ├── 2_deploy_tokens.js
│   ├── 3_deploy_contracts.js
│   ├── 4_setup_permissions.js
│   ├── 5_setup_KyberNetworkProxy.js
│   ├── 6_setup_KyberReserve.js
│   ├── 7_setup_KyberAutomatedReserve.js
│   ├── 8_setup_KyberOrderbookReserve.js
│   ├── 9_setup_FeeBurner.js
│   ├── 10_setup_ExpectedRate.js
│   ├── 11_setup_ConversionRates.js
│   ├── 12_setup_LiquidityConversionRates.js
│   ├── 13_setup_SanityRates.js
│   ├── 14_setup_WhiteList.js
│   ├── 15_setup_KyberNetwork.js
│   ├── 16_add_PermissionlessOrderbookReserve.js
│   ├── 17_transfer_tokens.js
│   └── 18_deployment_summary.js
├── package.json
├── README.md
├── scripts
│   ├── get_liquidity_params.py
│   └── liquidity_input_params.json
└── truffle.js

Directory Details

config - contains JSON files that hold configuration details of the Kyber contracts used for migrations
contracts - contains all the Kyber contracts, plus some mock tokens and solidity examples for testing
examples - contains truffle and web3 example scripts to interact with Kyber's smart contracts, and also contains solidity examples for Kyber contract interactions
migrations - contains the truffle migration scripts to deploy and setup the Kyber contracts in a test environment

Interacting with the Kyber contracts locally

1A. Run Ganache with local snapshot

A Ganache snapshot has already been pre-made with the Kyber contracts deployed. You can immediately interact with the contracts without having to do migrations. The snapshot is stored in db folder.

We use the mnemonic gesture rather obey video awake genuine patient base soon parrot upset lounge for the accounts. The user wallet (0x47a793D7D0AA5727095c3Fe132a6c1A46804c8D2) already contains some ETH and test ERC20 tokens.

NOTE: The mnemonic provided is used only for testing. DO NOT use the accounts generated for your own personal use in mainnet, as you can potentially lose those funds.

To run the snapshot locally, run the command:

cd <PATH>/workshop
ganache-cli --db db --accounts 10 --defaultBalanceEther 1000 --mnemonic 'gesture rather obey video awake genuine patient base soon parrot upset lounge' --networkId 5777 --debug

1B. Run Ganache and deploy the Kyber contracts from scratch

If you wish to deploy the Kyber contracts yourself, you can run the following commands:

Run ganache-cli in one terminal session

ganache-cli --accounts 10 --defaultBalanceEther 1000 --mnemonic 'gesture rather obey video awake genuine patient base soon parrot upset lounge' --networkId 5777 --debug

In a new terminal session, connect to the ganache network, and run the truffle migration scripts

truffle migrate --network development

2. Running the example scripts

You can directly interact with the Kyber contracts on the Ganache network. We have provided some example scripts in the example directory.

For the Truffle examples:

truffle exec examples/truffle/<SCRIPT>

e.g.

truffle exec examples/truffle/swapEtherToToken.js

For the Web3 examples:

cd examples/web3
node <SCRIPT>

e.g.

cd examples/web3/
node swapEtherToToken.js

For the Solidity examples, they are already deployed in the Ganache network using the Truffle migration scripts. You can interact with the Solidity examples using truffle console, or write your own Truffle/Web3 scripts to interact with the Solidity example contracts.

Ganache network details

Network

development

Permissions

ENTITY ADDRESS
admin 0x2B522cABE9950D1153c26C1b399B293CaA99FcF9
operator 0x3644B986B3F5Ba3cb8D5627A22465942f8E06d09
alerter 0x9e8f633D0C46ED7170EF3B30E291c64a91a49C7E

Wallets

WALLET ADDRESS
user 0x47a793D7D0AA5727095c3Fe132a6c1A46804c8D2
reserve 0x0d95EBB4874f17157e40635C19dBC6E9b0BFdb03
tax 0x5243B5970f327c328B2739dEc88abC46FaE8931A
bob 0xe1a1d3637eE02391ac4035e72456Ca7448c73FD4
alice 0x1cF1919d91cebAb2E56a5c0cC7180bB54eD4f3F6

Tokens

TOKEN ADDRESS
KNC 0x8c13AFB7815f10A8333955854E6ec7503eD841B7
OMG 0x3750bE154260872270EbA56eEf89E78E6E21C1D9
SALT 0x7ADc6456776Ed1e9661B3CEdF028f41BD319Ea52
ZIL 0x400DB523AA93053879b20F10F56023b2076aC852
MANA 0xe19Ec968c15f487E96f631Ad9AA54fAE09A67C8c
POLY 0x58A21f7aA3D9D83D0BD8D4aDF589626D13b94b45
SNT 0xA46E01606f9252fa833131648f4D855549BcE9D9

Contracts

CONTRACT ADDRESS
KyberNetwork 0xd44B9352e4Db6d0640449ed653983827BD882885
KyberNetworkProxy 0xd3add19ee7e5287148a5866784aE3C55bd4E375A
ConversionRates 0x6E9b241Eec2C4a80485c1D2dF750231AFaf1A167
LiquidityConversionRates 0x8b3BdEcEac3d23A215300A3df19e1bEe43A0Ac9C
SanityRates 0xf71D305142eC1aC03896526D52F743959db01624
KyberReserve 0x19F18bde9896890f161DeD31B05b58dc0ffD911b
KyberAutomatedReserve 0xdE4e2118f45f1b27699B25004563819B57f5E3b2
KyberOrderbookReserve 0x586F3cDCe25E76B69efD1C6Eb6104FAa0760A6a8
PermissionlessOrderbookReserveLister 0x295631209354194B6453921bfFeFEe79cD42BdB9
FeeBurner 0x63D556067eDbCD97ACc3356314398F70d4CcF948
WhiteList 0x5a8665AbbDe3986687494176e22d38B169EA1eab
ExpectedRate 0xB4c927fC102547e4089b02caE5E92d866F63bFE6
SwapEtherToToken 0x47bC234Bf1F1436A794DF0a9FcA2935ea384629E
SwapTokenToEther 0x6aBd125bcc68012197D81a92B4A56307177e0DBD
SwapTokenToToken 0xB31b6edd85c386C259FB5488dae8Be4ed82C0778
Trade 0x3f21DD3b2Aca23e495290a8dcb9A934984D93a6c

NOTE: The KyberReserve and KyberAutomatedReserve as well as the KyberOrderbookReserve and OrderbookReserve are the same contracts. A duplicate was made as a workaround due to a limitation of Truffle where only one instance of a contract can be migrated. Kyber has three types of reserves, the Fed Price Reserve, Automated Price Reserve, and Orderbook Reserve, which you can read more about here.

How to add a new ERC20 token with rates for initial migration

Fed Price Reserve

1. Create your ERC20 token contract

Create your ERC20 token contract in contracts/mockTokens. You can duplicate any of the existing mock tokens and modify the token name, symbol, and total supply

2. Set the minimalRecordResolution, maxPerBlockImbalance, and maxTotalImbalance of each defined token in the tokens.json config file

In config/tokens.json, under the FedPriceReserve section, define the minimalRecordResolution, maxPerBlockImbalance and maxTotalImbalance of each defined token (replace NEW with the token symbol).

These 3 fields are explained below:

Input Field Explanation Example
minimalRecordResolution Per trade imbalance values are recorded and stored in the contract. Since this storage of data is an expensive operation, the data is squeezed into one bytes32 object. To prevent overflow while squeezing data, a resolution unit exists. Recommended value is the token wei equivalent of $0.0001. Assume 1 OMG = $1.
$0.0001 = 0.0001 OMG
Now OMG has 18 decimals, so 0.0001*(10**18) = 1000000000000
maxPerBlockImbalance The maximum wei amount of net absolute (+/-) change for a token in an ethereum block. We recommend this value to be larger than the maximum allowed tradeable token amount for a whitelisted user. Suppose we want the maximum change in 1 block to be 439.79 OMG, then we use 439.79 * (10 ** 18) = 439790000000000000000 Suppose we have 2 users Alice and Bob. Alice tries to buy 200 OMG and Bob tries to buy 300 OMG. Assuming both transactions are included in the same block and Alice's transaction gets processed first, Bob's transaction will fail because the resulting net change of -500 OMG would exceed the limit of 439.79 OMG. However, if Bob decides to sell instead of buy, then the net change becomes +100 OMG, which means an additional 539.79 OMG can be bought, or 339.79 OMG sold.
maxTotalImbalance Has to be >= maxPerBlockImbalance. Represents the amount in wei for the net token change that happens between 2 price updates. This number is reset everytime setBaseRate() is called in ConversionRates.sol. This acts as a safeguard measure to prevent reserve depletion from unexpected events between price updates. If we want the maximum total imbalance to be 922.36 OMG, we will use: 922.36 * (10 ** 18) = 922360000000000000000
"FedPriceReserve": {
  "NEW": {
    "minimalRecordResolution" : "1000000000000000",
    "maxPerBlockImbalance" : "9078768104330450960384",
    "maxTotalImbalance" : "57896044618658097711785492504343953926634992332820282019728792003956564819968"
  }
}

Next, add the desired conversion rates of each defined token with respect to ETH, defined with baseBuy and baseSell. Conversion rate sets the basic rate per token, and is set separately for buy and sell values.

For bytes14Buy and bytes14Sell, for simplicity, assume that we want to modify the base buy rates. The logic for modifying base sell rates is the same.

Suppose the reserve supports 3 tokens: DAI, BAT, and DGX. We want to make the following modifications to their base buy rates:

  • +2.5% (+25 pts) to DAI_BASE_BUY_RATE
  • +1% (+10 pts) to BAT_BASE_BUY_RATE
  • -3% (-30 pts) to DGX_BASE_BUY_RATE

Note:

One pt here means a 0.1% change, as compared to basis points used in step functions where 1 basis point = 0.01%. The range which compact data can handle is from -12.8% to 12.7%. This gives us the buy array [25,10,-30]. Encoding this to hex yields [0x190ae2]. But for simplicity sake, we can set this to 0x0000000000000000000000000000.

"FedPriceReserve": {
  "NEW": {
    "minimalRecordResolution" : "1000000000000000",
    "maxPerBlockImbalance" : "9078768104330450960384",
    "maxTotalImbalance" : "57896044618658097711785492504343953926634992332820282019728792003956564819968",
    "baseBuy": "549000000000000000000",
    "baseSell": "1813123931381047",
    "bytes14Buy": "0x0000000000000000000000000000",
    "bytes14Sell": "0x0000000000000000000000000000"
  }
}

Lastly, add the sanity rate for each token you define. The sanity rates defined protect your reserve from large inconsistencies between the sanity rates and the actual rates.

You should have the final definition of a token below:

"FedPriceReserve": {
  "NEW": {
    "minimalRecordResolution" : "1000000000000000",
    "maxPerBlockImbalance" : "9078768104330450960384",
    "maxTotalImbalance" : "57896044618658097711785492504343953926634992332820282019728792003956564819968",
    "baseBuy": "549000000000000000000",
    "baseSell": "1813123931381047",
    "bytes14Buy": "0x0000000000000000000000000000",
    "bytes14Sell": "0x0000000000000000000000000000",
    "sanityRate": "1840144285714286"
  }
}

You can read more about these fields in the Fed Price Reserve guide.

3. Edit ConversionRates in network.json

  "ConversionRates": {
    "validDurationBlock": 1000000000,
    "indices": [0, 0, 0]
  },

Edit the indices to have the same number of zeroes as the number of tokens. For instance, if the reserve will support 6 tokens, then the ConversionRates section should be:

  "ConversionRates": {
    "validDurationBlock": 1000000000,
    "indices": [0, 0, 0, 0, 0, 0]
  },

4. Run the Truffle migration

With Ganache running, execute:

truffle migrate --network development --reset

Automated Price Reserve

1. Create your ERC20 token contract

Create your ERC20 token contract in contracts/mockTokens. You can duplicate any of the existing mock tokens and modify the token name, symbol, and total supply.

2. Defining the liquidity parameters of the token

Modify the file config/tokens.json and add the new token section (replace NEW with the token symbol) for the different properties.

{
  "AutomatedReserve": {
    "NEW": {
      "_rInFp": "7696581394",
      "_pMinInFp": "27487790",
      "_numFpBits": "40",
      "_maxCapBuyInWei": "5000000000000000000",
      "_maxCapSellInWei": "5000000000000000000",
      "_feeInBps": "25",
      "_maxTokenToEthRateInPrecision": "100000000000000",
      "_minTokenToEthRateInPrecision": "25000000000000",
      "Ether": "100",
      "Tokens": "2000000"
    }
  }
}

AutomatedReserve.Token

Property Explanation
_rInFp r in formula precision, calculated as r * InFp.
_pMinInFp Minimum supported price factor in formula precision, calculated as min price factor _ initial price of your token _ InFp.
_numFpBits The formula precision in bits, therefore for formula precision of 2^40, _numFpBits is 40.
_maxCapBuyInWei The allowed quantity for one BUY trade in ETH.
_maxCapSellInWei The allowed quantity for one SELL trade in ETH.
_feeInBps The fee amount in basis points (1 bp = 0.01%) that should be calculated in the price.
_maxTokenToEthRateInPrecision The maximum allowed price taking into consideration the maximum supported price factor and must be in 10^18.
_minTokenToEthRateInPrecision The minimum allowed price taking into consideration the minimum supported price factor and must be in 10^18.
Ether The amount of initial ETH inventory to be deposited into the automated reserve. It is recommended to allocate at least 100 ETH.
Tokens The amount of initial token inventory to be deposited into the automated reserve. It is recommended to allocate at least 100 ETH worth of tokens.

The function that will be invoked to set liquidity parameters is:

function setLiquidityParams(uint _rInFp, uint _pMinInFp, uint _numFpBits, uint _maxCapBuyInWei, uint _maxCapSellInWei, uint _feeInBps, uint _maxTokenToEthRateInPrecision, uint _minTokenToEthRateInPrecision) public onlyAdmin

Type Parameter
uint _rInFp
uint _pMinInFp
uint _numFpBits
uint _maxCapBuyInWei
uint _maxCapSellInWei
uint _feeInBps
uint _maxTokenToEthRateInPrecision
uint _minTokenToEthRateInPrecision

The reserve manager needs to only decide on the initial liquidity parameters of the automated reserve. Specifically, the following information need to be considered and to calculate the parameters above:

  1. Liquidity Rate
  2. Initial Token Price
  3. Initial Ether Amount
  4. Initial Token Amount
  5. Minimum and Maximum Supported Price Factor
  6. Maximum Buy and Maximum Sell Amount in a Trade
  7. Fee Percentage

There are several things to take note of in the list of parameters.

First, notice that some parameters will have the InFp suffix. InFp refers to formula precision. While this is configurable, 2^40 is the recommended value.

Second, r is liquidity the rate in basis points or units of 100 which the price should move each time the ETH/token inventory changes in 1 ETH worth of quantity. For an r of 0.01, the price will move 1%. r is calculated taking into account the amount of initial ETH and tokens deposited into the contract, and the desired minimum/maximum price factor ratio. A smaller r also means more ETH and token inventory is needed to facilitate the liquidity.

For the minimum/maximum supported price factor ratio, it is recommended to start with a ratio of 0.5:2.0. This indicates that the inventory will suffice for up to 100% increase or 50% decrease in token price with respect to ETH.

Example

Now, Let's assume we want to list a token with the following considerations:

  1. Liquidity Rate – 0.007 (0.7%)
  2. Initial Token Price – 1 token = 0.00005 ETH
  3. Initial Ether Amount – 100 ETH
  4. Initial Token Amount – 2,000,000 tokens (100 ETH worth)
  5. Minimum (pMin) and Maximum (pMax) Supported Price Factor – 0.5:2.0
  6. Maximum Buy and Maximum Sell Amount in a Trade – 5 ETH max buy and sell cap
  7. Fee Percentage – 0.25%

Below, we will calculate the different parameters.

Parameter Formula Example Value
_rInFp r * InFp _rInFp = (0.007 * 2^40) = 7696581394
_pMinInFp pMin * initial price of token * InFp _pMinInFp = (0.5 * 0.00005 * 2^40) = 27487790
_numFpBits InFp in numFpBits _numFpBits = 40
_maxCapBuyInWei max buy cap * 10^18 _maxCapBuyInWei = (5 * 10^18) = 5000000000000000000
_maxCapSellInWei max sell cap * 10^18 _maxCapSellInWei = (5 * 10^18) = 5000000000000000000
_feeInBps fee percentage in BPS _feeInBps = 25
_maxTokenToEthRateInPrecision pMax * initial price of token * 10^18 _maxTokenToEthRateInPrecision = (2.0 * 0.00005 * 10^18) = 100000000000000
_minTokenToEthRateInPrecision pMin * initial price of token * 10^18 _minTokenToEthRateInPrecision = (0.5 * 0.00005 * 10^18) = 25000000000000

Using get_liquidity_params.py Python script

A Python script, located in scripts/get_liquidity_params.py in the smart-contracts repository, will help you calculate the liquidity parameters. Edit the input file liquidity_input_params.json, and specify the inputs similar to the considerations in the example above.

{
  "liquidity_rate": 0.007,
  "initial_ether_amount": 100.0,
  "initial_token_amount": 2000000,
  "initial_price": 0.00005,
  "min_supported_price_factor": 0.5,
  "max_supported_price_factor": 2.0,
  "max_tx_buy_amount_eth": 5.0,
  "max_tx_sell_amount_eth": 5.0,
  "fee_percent": 0.25,
  "formula_precision_bits": 40
}

Please note that the formula_precision_bits refers to _numFpBits, which the recommended value is 40.

Afterwards, just execute the Python script, using the following command:

python3 get_liquidity_params.py --input liquidity_input_params.json --get params

It should give the following output:

_rInFp: 7696581394
_pMinInFp: 27487790
_numFpBits: 40
_maxCapBuyInWei: 5000000000000000000
_maxCapSellInWei: 5000000000000000000
_feeInBps: 25
_maxTokenToEthRateInPrecision: 100000000000000
_minTokenToEthRateInPrecision: 25000000000000

3. Run the Truffle migration

With Ganache running, execute:

truffle migrate --network development --reset

Orderbook Reserve

1. Create your ERC20 token contract

Create your ERC20 token contract in contracts/mockTokens. You can duplicate any of the existing mock tokens and modify the token name, symbol, and total supply.

2. Set the price of USD per ETH

In config/network.json, under the MockMedianizer section, add the USD price per ETH.

"MockMedianizer": {
  "DollarPerETH": 150
}

3. Set the minimum USD price for new orders, maximum orders to traverse per trade, and fees

In config/tokens.json, under the PermissionedOrderbookReserve section, add the new token section (replace NEW with the token symbol) for the different properties.

"PermissionedOrderbookReserve": {
  "NEW": {
    "minNewOrderUsd": 1000,
    "maxOrdersPerTrade": 5,
    "burnFeeBps": 25,
    (...)
  }
}

These 3 fields are explained below:

Property Explanation
minNewOrderUsd The minimum limit order size in USD. Creating orders below this limit will be reverted.
maxOrdersPerTrade The maximum number of orders to traverse (and therefore use) to fulfill 1 trade request.
burnFeeBps The fee amount in basis points (1 bp = 0.01%) that should be calculated in the price.

3. Set the initial limit order to the Orderbook Reserve

In config/tokens.json, under the PermissionedOrderbookReserve section, modify the new token section (replace NEW with the token symbol), as specified in Step 2 above, and indicate the different properties.

"PermissionedOrderbookReserve": {
  "NEW": {
    (...)
    "KNCStake": "1000",
    "ETHDeposit": "25",
    "TokenDeposit": "150000",
    "ETHSell": "10",
    "TokenBuy": "12450",
    "ETHBuy": "10",
    "TokenSell": "12400"
  }
}

These 7 fields are explained below:

Property Explanation
KNCStake The amount of KNC to deposit and stake in the Orderbook Reserve.
ETHDeposit The amount of ETH to deposit to the Orderbook Reserve.
TokenDeposit The amount of tokens to deposit to the Orderbook Reserve.
ETHSell The amount of ETH to sell in a BID order.
TokenBuy The amount of tokens to buy in a BID order.
ETHBuy The amount of ETH to buy in an ASK order.
TokenSell The amount of tokens to sell in an ASK order.

4. Run the Truffle migration

With Ganache running, execute:

truffle migrate --network development --reset

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