refactor: revenue buy back slippage config

mstable · Aug 1, 2022 · 086309a · 086309a
1 parent a79a9f3
commit 086309a
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Showing 3 changed files with 16 additions and 13 deletions.
diff --git a/tasks/emissions.ts b/tasks/emissions.ts
@@ -179,22 +179,22 @@ subtask("revenue-split-buy-back", "Buy back MTA from mUSD and mBTC gov fees")
         const revenueSplitBuyBack = RevenueSplitBuyBack__factory.connect(revenueSplitBuyBackAddress, signer)
         const musd = {
             address: resolveAddress("mUSD", chain),
-            bAssetMinSlippage: 2, // 2%
+            bAssetMinSlippage: 1, // 1%
             rewardMinSlippage: 1, // 1%
             mAssetMinBalance: simpleToExactAmount(1000), // 1k USD
         }
 
         const mbtc = {
             address: resolveAddress("mBTC", chain),
-            bAssetMinSlippage: 5, // 5%
-            rewardMinSlippage: 3, // 3%
+            bAssetMinSlippage: 3, // 3%
+            rewardMinSlippage: 2, // 2%
             mAssetMinBalance: simpleToExactAmount(10, 14), // 10 wBTC
         }
         const mAssets = [musd, mbtc]
         const request = {
             mAssets,
             revenueSplitBuyBack,
-            swapFees: [3000, 3000],
+            swapFees: [3000, 3000], // 0.3%, 0.3%, pools fee
             blockNumber: "latest",
         }
         const tx = await splitBuyBackRewards(signer, request)

diff --git a/tasks/utils/emissions-split-buy-back.ts b/tasks/utils/emissions-split-buy-back.ts
@@ -2,7 +2,7 @@
 import { Signer } from "@ethersproject/abstract-signer"
 import { ContractTransaction } from "ethers"
 import { BN, simpleToExactAmount } from "@utils/math"
-import { RevenueSplitBuyBack, ERC20__factory, IERC20Metadata } from "types/generated"
+import { RevenueSplitBuyBack, IERC20Metadata__factory, Masset__factory } from "types/generated"
 import { EncodedPaths, encodeUniswapPath, getWETHPath, quoteSwap } from "@utils/peripheral/uniswap"
 
 export interface MAssetSwap {
@@ -66,15 +66,15 @@ export const calculateBuyBackRewardsQuote = async (signer: Signer, params: MainP
     const treasuryFee: BN = await revenueSplitBuyBack.treasuryFee()
     const rewardsToken = await revenueSplitBuyBack.REWARDS_TOKEN()
 
-    const rewardsTokenContract = (ERC20__factory.connect(rewardsToken, signer) as unknown as IERC20Metadata)
+    const rewardsTokenContract = IERC20Metadata__factory.connect(rewardsToken, signer)
     const rTokenDecimals = await rewardsTokenContract.decimals()
     const rTokenSymbol = await rewardsTokenContract.symbol()
 
-    for (let i = 0; i < mAssets.length; i = 1 + 1) {
+    for (let i = 0; i < mAssets.length; i += 1) {
         const mAsset = mAssets[i]
         const bAsset: string = await revenueSplitBuyBack.bassets(mAsset.address)
-        const mAssetContract = (ERC20__factory.connect(mAsset.address, signer)as unknown as IERC20Metadata)
-        const bAssetContract = (ERC20__factory.connect(bAsset, signer)as unknown as IERC20Metadata)
+        const mAssetContract = Masset__factory.connect(mAsset.address, signer)
+        const bAssetContract = IERC20Metadata__factory.connect(bAsset, signer)
 
         const mAssetBalance: BN = await mAssetContract.balanceOf(revenueSplitBuyBack.address)
         const mAssetSymbol: string = await mAssetContract.symbol()
@@ -99,6 +99,8 @@ export const calculateBuyBackRewardsQuote = async (signer: Signer, params: MainP
             minBassetsAmounts.push(minBassetsAmount)
             mAssetsToBuyBack.push(mAsset)
 
+            // Get the estimated redeem amount to price better the second swap, bAsset to reward.
+            const bAssetRedeemAmount = await mAssetContract.getRedeemOutput(bAsset, mAssetAmount)
             // console for debugging purposes, do not delete
 
             console.table({
@@ -110,6 +112,7 @@ export const calculateBuyBackRewardsQuote = async (signer: Signer, params: MainP
                 bAssetDecimals: bAssetDecimals.toString(),
                 mAssetAmount: mAssetAmount.toString(),
                 minBassetsAmount: minBassetsAmount.toString(),
+                bAssetRedeemAmount: bAssetRedeemAmount.toString(),
             })
 
             // 2 ============ minRewardsAmount ============//
@@ -122,7 +125,7 @@ export const calculateBuyBackRewardsQuote = async (signer: Signer, params: MainP
                 signer,
                 fromToken,
                 toToken,
-                minBassetsAmount,
+                bAssetRedeemAmount,
                 blockNumber,
                 undefined,
                 swapFees,
@@ -149,7 +152,7 @@ export const calculateBuyBackRewardsQuote = async (signer: Signer, params: MainP
             })
 
             // 3 ============ Uniswap path ============//
-            const uniswapPath = encodeUniswapPath(getWETHPath(bAsset, rewardsToken), [3000, 3000])
+            const uniswapPath = encodeUniswapPath(getWETHPath(bAsset, rewardsToken), swapFees)
             uniswapPaths.push(uniswapPath)
             console.log(`ts: swap ${bAssetSymbol} to ${rTokenSymbol}, encodeUniswapPath: ${uniswapPath.encoded.toString()}`)
         }

diff --git a/test-utils/peripheral/uniswap.ts b/test-utils/peripheral/uniswap.ts
@@ -33,7 +33,7 @@ export const encodeUniswapPath = (tokenAddresses: string[], fees: number[]): Enc
         encodedReversed = encodedAddress + encodedReversed
 
         // 3 byte hex encoding of the fee
-        const encodedFee = fees[i].toString(16).padStart(2 * FEE_SIZE, "0")
+        const encodedFee = fee.toString(16).padStart(2 * FEE_SIZE, "0")
         encoded += encodedFee
         encodedReversed = encodedFee + encodedReversed
     })
@@ -72,7 +72,7 @@ export const quoteSwap = async (
     const encodedPath = encodeUniswapPath(uniswapPath, fees)
     const quoter = IUniswapV3Quoter__factory.connect(uniswapQuoterV3Address, signer)
     const outAmount = await quoteExactInput(quoter, encodedPath.encoded, inAmount, blockNumber)
-    const exchangeRate = outAmount.div(simpleToExactAmount(1, to.decimals)).mul(simpleToExactAmount(1, from.decimals)).div(inAmount)
+    const exchangeRate = inAmount.div(outAmount.div(simpleToExactAmount(1, to.decimals)))
     // Exchange rate is not precise enough, better to relay on the output amount.
     return { outAmount, exchangeRate }
 }