Merge branch 'demurrage-collateral' into unpriced-collateral

reserve-protocol · Oct 25, 2024 · b5557e8 · b5557e8
2 parents 3c3641e + 29f2191
commit b5557e8
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Showing 9 changed files with 24 additions and 22 deletions.
diff --git a/contracts/plugins/assets/DemurrageCollateral.sol b/contracts/plugins/assets/DemurrageCollateral.sol
@@ -38,7 +38,7 @@ contract DemurrageCollateral is FiatCollateral {
     using FixLib for uint192;
     using OracleLib for AggregatorV3Interface;
 
-    uint48 public constant t0 = 1704067200; // {s} Jan 1st 2024 00:00:00 GMT+0000
+    uint48 public constant T0 = 1704067200; // {s} Jan 1st 2024 00:00:00 GMT+0000
 
     bool internal immutable isFiat;
     bool internal immutable targetUnitFeed0; // if true: feed0 is {target/tok}
@@ -141,7 +141,7 @@ contract DemurrageCollateral is FiatCollateral {
     function refPerTok() public view override returns (uint192) {
         // Monotonically increasing due to target unit (and reference unit) deflation
 
-        uint192 denominator = FIX_ONE.minus(fee).powu(uint48(block.timestamp - t0));
+        uint192 denominator = FIX_ONE.minus(fee).powu(uint48(block.timestamp - T0));
         if (denominator == 0) return FIX_MAX; // TODO
 
         // up-only

diff --git a/docs/demurrage-collateral.md b/docs/demurrage-collateral.md
@@ -59,15 +59,13 @@ This also means there can be multiple demurrage collateral for a single token. W
 
 Prime basket weights are in units of January 1st 2024 collateral, not today's collateral. It doesn't matter if the collateral wasn't around in Jan 2024 -- when setting the basket weights the setter must take into account how much demurrage has occurred since January 1st 2024.
 
-For example, say an asset has had 2% total demurrage since January 1st 2024 and you want to (on today's date) create a basket of that is worth $1: the correct basket weight to provide to `setPrimeBasket()` would be `1 / (1 - 0.02) = ~1.0204`.
-
-To calculate total demurrage:
+This is identical to the calculation for the `refPerTok()` function in the [DemurrageCollateral.sol](../contracts/plugins/assets/DemurrageCollateral.sol) contract, but calculating for an arbitrary timestamp.
 
 ```
-1 - (1 - per_second_fee) ^ (seconds)
+weight = 1 / (1 - fee) ^ seconds;
 ```
 
-Switching between tiers requires calculating total demurrage for both tiers in order to ensure the basket change does not accidentally appreciate or depreciate the RToken.
+`fee()` available on DemurrageCollateral contract
 
 ### Implementation
 

diff --git a/scripts/addresses/8453-tmp-assets-collateral.json b/scripts/addresses/8453-tmp-assets-collateral.json
@@ -12,8 +12,8 @@
     "saBasUSDC": "0xC19f5d60e2Aca1174f3D5Fe189f0A69afaB76f50",
     "cUSDCv3": "0xf7a9D27c3B60c78c6F6e2c2d6ED6E8B94b352461",
     "wstETH": "0x8b4374005291B8FCD14C4E947604b2FB3C660A73",
-    "EURC": "0x7321485aA1D0439296B882bBc85Eb0BD350F8381",
-    "cbBTC": "0x06f7D10f5842fc5816DF9A9DD65f84481B1490E3"
+    "DMR100cbBTC": "0x27Bb9158A6727aBdcaF6A1B983FFCA94E41d5616",
+    "DMR100EURC": "0x3a55cEE81eaDaB7F64430ff0148F547baFD993fb"
   },
   "erc20s": {
     "COMP": "0x9e1028F5F1D5eDE59748FFceE5532509976840E0",
@@ -26,7 +26,7 @@
     "STG": "0xE3B53AF74a4BF62Ae5511055290838050bf764Df",
     "cUSDCv3": "0x53f1Df4E5591Ae35Bf738742981669c3767241FA",
     "wstETH": "0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452",
-    "EURC": "0x60a3E35Cc302bFA44Cb288Bc5a4F316Fdb1adb42",
-    "cbBTC": "0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf"
+    "DMR100cbBTC": "0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf",
+    "DMR100EURC": "0x60a3E35Cc302bFA44Cb288Bc5a4F316Fdb1adb42"
   }
-}
+}
diff --git a/scripts/addresses/base-3.4.0/8453-tmp-assets-collateral.json b/scripts/addresses/base-3.4.0/8453-tmp-assets-collateral.json
@@ -11,7 +11,9 @@
     "cbETH": "0x851B461a9744f4c9E996C03072cAB6f44Fa04d0D",
     "saBasUSDC": "0xC19f5d60e2Aca1174f3D5Fe189f0A69afaB76f50",
     "cUSDCv3": "0xf7a9D27c3B60c78c6F6e2c2d6ED6E8B94b352461",
-    "wstETH": "0x8b4374005291B8FCD14C4E947604b2FB3C660A73"
+    "wstETH": "0x8b4374005291B8FCD14C4E947604b2FB3C660A73",
+    "DMR100cbBTC": "0x27Bb9158A6727aBdcaF6A1B983FFCA94E41d5616",
+    "DMR100EURC": "0x3a55cEE81eaDaB7F64430ff0148F547baFD993fb"
   },
   "erc20s": {
     "COMP": "0x9e1028F5F1D5eDE59748FFceE5532509976840E0",
@@ -23,6 +25,8 @@
     "saBasUSDC": "0x6F6f81e5E66f503184f2202D83a79650c3285759",
     "STG": "0xE3B53AF74a4BF62Ae5511055290838050bf764Df",
     "cUSDCv3": "0x53f1Df4E5591Ae35Bf738742981669c3767241FA",
-    "wstETH": "0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452"
+    "wstETH": "0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452",
+    "DMR100cbBTC": "0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf",
+    "DMR100EURC": "0x60a3E35Cc302bFA44Cb288Bc5a4F316Fdb1adb42"
   }
 }
diff --git a/scripts/verification/collateral-plugins/verify_arb_100.ts b/scripts/verification/collateral-plugins/verify_arb_100.ts
@@ -49,7 +49,7 @@ async function main() {
 
   await verifyContract(
     chainId,
-    assetCollDeployments.collateral.ARB,
+    assetCollDeployments.collateral.DMR100ARB,
     [
       {
         erc20: networkConfig[chainId].tokens.ARB,

diff --git a/scripts/verification/collateral-plugins/verify_cbbtc_100.ts b/scripts/verification/collateral-plugins/verify_cbbtc_100.ts
@@ -46,12 +46,12 @@ async function main() {
 
   const collateral = await hre.ethers.getContractAt(
     'ICollateral',
-    assetCollDeployments.collateral.cbBTC!
+    assetCollDeployments.collateral.DMR100cbBTC!
   )
 
   await verifyContract(
     chainId,
-    assetCollDeployments.collateral.cbBTC,
+    assetCollDeployments.collateral.DMR100cbBTC,
     [
       {
         erc20: networkConfig[chainId].tokens.cbBTC,

diff --git a/scripts/verification/collateral-plugins/verify_eurc_100.ts b/scripts/verification/collateral-plugins/verify_eurc_100.ts
@@ -46,12 +46,12 @@ async function main() {
 
   const collateral = await hre.ethers.getContractAt(
     'ICollateral',
-    assetCollDeployments.collateral.EURC!
+    assetCollDeployments.collateral.DMR100EURC!
   )
 
   await verifyContract(
     chainId,
-    assetCollDeployments.collateral.EURC,
+    assetCollDeployments.collateral.DMR100EURC,
     [
       {
         erc20: networkConfig[chainId].tokens.EURC,

diff --git a/scripts/verification/collateral-plugins/verify_paxg_100.ts b/scripts/verification/collateral-plugins/verify_paxg_100.ts
@@ -47,12 +47,12 @@ async function main() {
 
   const collateral = await hre.ethers.getContractAt(
     'ICollateral',
-    assetCollDeployments.collateral.PAXG!
+    assetCollDeployments.collateral.DMR100PAXG!
   )
 
   await verifyContract(
     chainId,
-    assetCollDeployments.collateral.PAXG,
+    assetCollDeployments.collateral.DMR100PAXG,
     [
       {
         erc20: networkConfig[chainId].tokens.PAXG,

diff --git a/test/scenario/DemurrageCollateral.test.ts b/test/scenario/DemurrageCollateral.test.ts
@@ -64,7 +64,7 @@ describeP1(`Demurrage Collateral - P${IMPLEMENTATION}`, () => {
     coll: DemurrageCollateral,
     decayedAmt: BigNumber
   ): Promise<BigNumber> => {
-    const elapsed = (await getLatestBlockTimestamp()) - (await coll.t0())
+    const elapsed = (await getLatestBlockTimestamp()) - (await coll.T0())
     const decayFn = makeDecayFn(await coll.fee())
     return fp('1e18').div(decayFn(decayedAmt, elapsed))
   }