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CHANGELOG.md

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CHANGELOG

A list of high level changes made to the vanilla UniswapV3 Contracts to work with the Velodrome ecosystem. For more details, see `SPECIFICATION.md``

The core concentrated liquidity contracts have been taken from v3-core at commit d8b1c63. Core contracts can be found in contracts/core. The periphery contracts have been taken from v3-periphery at commit 6cce88e. Periphery contracts can be found in contracts/periphery. Gauge contracts can be found in contracts/gauge

Certain mock files (located in contracts/core/test or contracts/core/periphery) and test files have been renamed or removed.

Core

All Contracts

  • NoDelegateCall was removed from all contracts.

Factory (contracts/core/UniswapV3Factory.sol)

The Factory has been modified in the following ways:

  • Pools are created by the factory using Clones (EIP-1167 Proxies).
  • The clones are created deterministically, using tickSpacing instead of fee.
  • The factory supports a swap fee module that can be changed by the factory owner. This swap fee module allows fees to be dynamic. If there is no fee module, it uses the default fee for the given tick spacing.
  • The factory supports an unstaked fee module that can be changed by the factory owner. This unstaked fee module allows fees to be levied on the fees earned by unstaked liquidity in the pool.
  • Default tick spacings and fees were updated (see specification).
  • The default unstaked fee is mutable and is initialized at 10%.

Pool (contracts/core/UniswapV3Pool.sol)

  • Pools are created using deterministic clones (EIP-1167 Proxies).
  • Pools no longer have a fixed swap fee and dynamically fetch the swap fee from the swap fee module in the Factory.
  • Pools track rewards in a manner similar to fees. These are synced whenever the gauge is notified of rewards.
  • Pools track the number of seconds between swaps where there is no staked liquidity. This is used to by the gauge to track emissions that are not unassigned to a depositor and thus can be recycled as emissions in the following epoch.
  • Pools have a stake function, callable only by the gauge that allows the gauge to virtually assign liquidity to either the gauge or nft depending on whether liquidity is being staked or unstaked respectively.
  • Pools have an overloaded burn function that accepts an additional parameter owner (which will be either the NonfungiblePositionManager or the gauge). This function is callable only by the NonfungiblePositionManager and is used to update pool state for positions owned by the nft or the gauge.
    • This function helps ensure that fees do not accrue to positions owned by the gauge.
  • Pools have an overloaded collect function that accepts an additional parameter owner (which will be either the NonfungiblePositionManager or the gauge). This function is callable only by the NonfungiblePositionManager and is used to update pool state for positions owned by the nft or the gauge.
    • This function helps ensure that fees do not accrue to positions owned by the gauge.
  • Pools no longer have ProtocolFees.
  • Pools have a collectFees function which allows the gauge to bulk collect fees attributable to voters over the course of an epoch. These fees accumulate every swap / flash based on % of liquidity in the current tick that is staked.
    • These fees include fees levied on the swap fee earned by unstaked LPers.
    • These fees also include swap fees earned by staked LPers.

PoolDeployer (UniswapV3PoolDeployer.sol)

  • Removed once fees were made dynamic.

Fee Modules

Custom Swap Fee Module (contracts/fees/CustomSwapFeeModule.sol)

  • A custom swap fee module implements the same logic for custom swap fees as is present in Velodrome V2.
  • This fee can be from 0 - 3%.
  • This allows the factory owner to set the fee for specfic pools, allowing the pools to have a different swap fee from the default.

Custom Unstaked Fee Module (contracts/fees/CustomSwapFeeModule.sol)

  • A custom unstaked fee module implements a fee levied on liquidity positions that are not staked in the gauge.
  • This fee can be from 0 - 50%.
  • The default custom unstaked fee is settable on the factory.

Tests

Tests were modified to be consistent with the above, with newer tests using foundry instead of hardhat.

  • The TestERC20 contract was renamed to CoreTestERC20 due to a collision with the TestERC20 contract in periphery.

Periphery

NonfungiblePositionManager (contracts/periphery/NonfungiblePositionManager.sol)

  • Fetches pool addresses using tickSpacing instead of fee.
  • increaseLiquidity(), decreaseLiquidity() and collect() account for the case when the position is owned by a gauge. Under these circumstances, the fee accumulators are updated, but the underlying fees themselves (i.e. tokensOwedX) do not accumulate.
  • PoolInitializer was removed. Pool creation and initialization will be handled separately.
  • tokenDescriptor are mutable. This allows NFT artwork to be updated.
  • mint will create a pool if it does not already exist, if a price is supplied.
  • mint and increaseLiquidity will refund ETH at the end of the transaction.

Tests

Tests were modified to be consistent with the above, with newer tests using foundry instead of hardhat. Places where artifacts were used from the uniswapv3 npm modules were replaced with artifacts built locally in this repository.

Gauge

Concentrated Liquidity Gauge Factory

  • On gauge creation, the gauge and nft parameters of the pool are updated.
  • notifyAdmin is a mutable address that can call notifyRewardWithoutClaim on gauges.

Concentrated Liquidity Gauge

  • Support standard functions on a SNX staking gauge (e.g. deposit, earned, withdraw, notifyRewardAmount etc).
  • Rewards accrue using rewardGrowthInside instead of a rewardRate.
  • Residual rewards (emissions not distributed due to no liquidity) are rolled over into the following epoch.
  • Gauges contain a new function notifyRewardWithoutClaim() that allows for a permissioned user to add rewards to a gauge.
  • Gauges contain accounting that can roll forward unallocated emissions from prior epochs.