PE-814: 2022-01-21 Executive

.github/PULL_REQUEST_TEMPLATE.md

@@ -10,13 +10,13 @@
 # Checklist
 
 - [ ] Every contract variable/method declared as public/external private/internal
-- [ ] Consider if this PR needs the `officeHours` modifier
-- [ ] Verify expiration (`4 days` monthly and `30 days` for the rest)
+- [ ] Consider if this PR needs the `officeHours` modifier override
+- [ ] Verify expiration (`30 days` unless otherwise specified)
 - [ ] Verify hash in the description matches [here](https://emn178.github.io/online-tools/keccak_256.html)
 - [ ] Validate all addresses used are in changelog or known
 - [ ] Notify any external teams affected by the spell so they have the opportunity to review
 - [ ] Deploy spell `ETH_GAS="XXX" ETH_GAS_PRICE="YYY" make deploy`
 - [ ] Verify `mainnet` contract on etherscan
 - [ ] Change test to use mainnet spell address and deploy timestamp
-- [ ] Run `make date="YYYY-MM-DD" archive-spell` to make an archive directory and copy `DssSpell.sol`, `DssSpell.t.sol`, and `DssSpell.t.base.sol`
+- [ ] Run `make archive-spell` or `make date="YYYY-MM-DD" archive-spell` to make an archive directory and copy `DssSpell.sol`, `DssSpell.t.sol`, `DssSpell.t.base.sol`, and `DssSpellCollateralOnboarding.sol`
 - [ ] `squash and merge` this PR

Makefile

@@ -9,4 +9,4 @@ test-forge      :; ./test-dssspell-forge.sh match="$(match)" block="$(block)"
 deploy          :; make && dapp create DssSpell | xargs ./verify.py DssSpell
 estimate        :; ./estimate-deploy-gas.sh
 flatten         :; hevm flatten --source-file "src/DssSpell.sol" > out/flat.sol
-archive-spell   :; ./archive-dssspell.sh $(date)
+archive-spell   :; ./archive-dssspell.sh "$(if $(date),$(date),$(shell date +'%Y-%m-%d'))"

archive/2022-01-21-DssSpell/DssSpell.sol

@@ -0,0 +1,102 @@
+// SPDX-License-Identifier: AGPL-3.0-or-later
+//
+// Copyright (C) 2021-2022 Dai Foundation
+//
+// This program is free software: you can redistribute it and/or modify
+// it under the terms of the GNU Affero General Public License as published by
+// the Free Software Foundation, either version 3 of the License, or
+// (at your option) any later version.
+//
+// This program is distributed in the hope that it will be useful,
+// but WITHOUT ANY WARRANTY; without even the implied warranty of
+// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+// GNU Affero General Public License for more details.
+//
+// You should have received a copy of the GNU Affero General Public License
+// along with this program.  If not, see <https://www.gnu.org/licenses/>.
+
+pragma solidity 0.6.12;
+
+import "dss-exec-lib/DssExec.sol";
+import "dss-exec-lib/DssAction.sol";
+
+import { DssSpellCollateralOnboardingAction } from "./DssSpellCollateralOnboarding.sol";
+
+contract DssSpellAction is DssAction, DssSpellCollateralOnboardingAction {
+    // Provides a descriptive tag for bot consumption
+    // This should be modified weekly to provide a summary of the actions
+    // Hash: seth keccak -- "$(wget https://raw.githubusercontent.com/makerdao/community/c421b8a52031169aa55170b752206250ab2d15cf/governance/votes/Executive%20Vote%20-%20January%2021%2C%202022.md -q -O - 2>/dev/null)"
+    string public constant override description =
+        "2022-01-21 MakerDAO Executive Spell | Hash: 0x741fefda04e07fbdcceb7b5e3f9704694f353771154380b3fd13b52ead67837d";
+
+    // --- Rates ---
+    uint256 constant ZERO_FIVE_PCT_RATE      = 1000000000158153903837946257;
+    uint256 constant TWO_FIVE_PCT_RATE       = 1000000000782997609082909351;
+    uint256 constant THREE_PCT_RATE          = 1000000000937303470807876289;
+
+    // Math
+    uint256 constant MILLION = 10**6;
+
+    // Turn office hours off
+    function officeHours() public override returns (bool) {
+        return false;
+    }
+
+    function actions() public override {
+
+        // Includes changes from the DssSpellCollateralOnboardingAction
+        // onboardNewCollaterals();
+
+        // ------------------------- Rates updates -----------------------------
+        // https://vote.makerdao.com/polling/QmVyyjPF?network=mainnet#poll-detail
+        // Decrease the ETH-A Stability Fee from 2.75% to 2.5%
+        DssExecLib.setIlkStabilityFee("ETH-A", TWO_FIVE_PCT_RATE, true);
+
+        // Decrease the WSTETH-A Stability Fee from 4.0% to 3.0%
+        DssExecLib.setIlkStabilityFee("WSTETH-A", THREE_PCT_RATE, true);
+
+        // Decrease the GUNIV3DAIUSDC2-A Stability Fee from 1% to 0.5%
+        DssExecLib.setIlkStabilityFee("GUNIV3DAIUSDC2-A", ZERO_FIVE_PCT_RATE, true);
+
+
+        // ---------------------- Debt Ceiling updates -------------------------
+        // https://vote.makerdao.com/polling/QmVyyjPF?network=mainnet#poll-detail
+        // Decrease the LINK-A Maximum Debt Ceiling from 140 million DAI to 100 million DAI.
+        DssExecLib.setIlkAutoLineDebtCeiling("LINK-A", 100 * MILLION);
+
+        // Decrease the YFI-A Maximum Debt Ceiling (line) from 130 million DAI to 50 million DAI
+        DssExecLib.setIlkAutoLineDebtCeiling("YFI-A", 50 * MILLION);
+
+        // Decrease the UNI-A Maximum Debt Ceiling (line) from 50 million DAI to 25 million DAI
+        DssExecLib.setIlkAutoLineDebtCeiling("UNI-A", 25 * MILLION);
+
+        // Decrease the UNIV2UNIETH-A Maximum Debt Ceiling (line) from 20 million DAI to 5 million DAI
+        DssExecLib.setIlkAutoLineDebtCeiling("UNIV2UNIETH-A", 5 * MILLION);
+
+        // Decrease the GUSD-A Debt Ceiling from 5 million DAI to zero DAI
+        DssExecLib.decreaseIlkDebtCeiling("GUSD-A", 5 * MILLION, true);
+
+        // Increase the GUNIV3DAIUSDC2-A Maximum Debt Ceiling (line) from 10 million DAI to 500 million DAI
+        DssExecLib.setIlkAutoLineDebtCeiling("GUNIV3DAIUSDC2-A", 500 * MILLION);
+
+
+        // ------------------ Liquiduation Ratio updates -----------------------
+        // https://vote.makerdao.com/polling/QmbFqWGK?network=mainnet#poll-detail
+        // Decrease the GUNIV3DAIUSDC2-A Liquidation Ratio from 105% to 102%
+        DssExecLib.setIlkLiquidationRatio("GUNIV3DAIUSDC2-A", 10200);
+
+
+        // ------------------------- AAVE D3M updates --------------------------
+        // https://vote.makerdao.com/polling/QmVyyjPF?network=mainnet#poll-detail
+        // Decrease the DIRECT-AAVEV2-DAI Target Borrow Rate (bar) from 3.9% to 3.75%
+        DssExecLib.setValue(DssExecLib.getChangelogAddress("MCD_JOIN_DIRECT_AAVEV2_DAI"), "bar", 3.75 * 10**27 / 100);
+
+        // Increase the DIRECT-AAVEV2-DAI Target Available Debt (gap) from 25 million DAI to 50 million DAI
+        // Increase the DIRECT-AAVEV2-DAI Maximum Debt Ceiling (line) from 100 million DAI to 220 million DAI
+        DssExecLib.setIlkAutoLineParameters("DIRECT-AAVEV2-DAI", 220 * MILLION, 50 * MILLION, 12 hours);
+    }
+}
+
+contract DssSpell is DssExec {
+    constructor() DssExec(block.timestamp + 30 days, address(new DssSpellAction())) public {}
+}