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feat: withdraw limit
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@Schlagonia
Schlagonia committed Aug 14, 2023
1 parent 6f06601 commit a9ae2ce
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Showing 3 changed files with 110 additions and 31 deletions.
20 changes: 14 additions & 6 deletions src/Depositer.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -32,14 +32,14 @@ contract Depositer {
Comet public comet;
// This is the token we will be borrowing/supplying
ERC20 public baseToken;
// The contract to get Comp rewards from
// The contract to get rewards from
CometRewards public constant rewardsContract =

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Constant name must be in capitalized SNAKE_CASE
CometRewards(0x1B0e765F6224C21223AeA2af16c1C46E38885a40);

IStrategyInterface public strategy;

//The reward Token
address internal constant comp = 0xc00e94Cb662C3520282E6f5717214004A7f26888;
address internal rewardToken;

modifier onlyManagement() {
checkManagement();
Expand Down Expand Up @@ -98,12 +98,15 @@ contract Depositer {

baseToken.safeApprove(_comet, type(uint256).max);

rewardToken = rewardsContract.rewardConfig(_comet).token;

//For APR calculations
uint256 BASE_MANTISSA = comet.baseScale();

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uint256 BASE_INDEX_SCALE = comet.baseIndexScale();

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// this is needed for reward apr calculations based on decimals of Asset
// we scale rewards per second to the base token decimals and diff between comp decimals and the index scale
// we scale rewards per second to the base token decimals and diff between
// reward token decimals and the index scale
SCALER = (BASE_MANTISSA * 1e18) / BASE_INDEX_SCALE;

// default to the base token feed given
Expand Down Expand Up @@ -169,10 +172,15 @@ contract Depositer {
function claimRewards() external onlyStrategy {
rewardsContract.claim(address(comet), address(this), true);

uint256 compBal = ERC20(comp).balanceOf(address(this));
uint256 rewardTokenBalance = ERC20(rewardToken).balanceOf(
address(this)
);

if (compBal > 0) {
ERC20(comp).safeTransfer(address(strategy), compBal);
if (rewardTokenBalance > 0) {
ERC20(rewardToken).safeTransfer(
address(strategy),
rewardTokenBalance
);
}
}

Expand Down
115 changes: 91 additions & 24 deletions src/Strategy.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -38,7 +38,7 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
Depositer public immutable depositer;

// The reward Token
address internal constant comp = 0xc00e94Cb662C3520282E6f5717214004A7f26888;
address internal immutable rewardToken;

// mapping of price feeds. Management can customize if needed
mapping(address => address) public priceFeeds;
Expand All @@ -50,7 +50,6 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
// Warning LTV: ratio at which we will repay
uint16 public warningLTVMultiplier = 8_000; // 80% of liquidation LTV

// support
uint16 internal constant MAX_BPS = 10_000; // 100%

//Thresholds
Expand All @@ -75,14 +74,17 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
depositer = Depositer(_depositer);
require(baseToken == address(depositer.baseToken()), "!base");

// Set the rewardToken token we will get.
rewardToken = rewardsContract.rewardConfig(_comet).token;

// to supply asset as collateral
ERC20(asset).safeApprove(_comet, type(uint256).max);
// to repay debt
ERC20(baseToken).safeApprove(_comet, type(uint256).max);
// for depositer to pull funds to deposit
ERC20(baseToken).safeApprove(_depositer, type(uint256).max);
// to sell reward tokens
ERC20(comp).safeApprove(address(router), type(uint256).max);
ERC20(rewardToken).safeApprove(address(router), type(uint256).max);

// Set the needed variables for the Uni Swapper
// Base will be weth.
Expand All @@ -98,7 +100,7 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
// set default price feeds
priceFeeds[baseToken] = comet.baseTokenPriceFeed();
// default to COMP/USD
priceFeeds[comp] = 0xdbd020CAeF83eFd542f4De03e3cF0C28A4428bd5;
priceFeeds[rewardToken] = 0xdbd020CAeF83eFd542f4De03e3cF0C28A4428bd5;
// default to given feed for asset
priceFeeds[asset] = comet.getAssetInfoByAddress(asset).priceFeed;
}
Expand All @@ -124,29 +126,29 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
}

function setPriceFeed(
address token,
address priceFeed
address _token,
address _priceFeed
) external onlyManagement {
// just check it doesnt revert
comet.getPrice(priceFeed);
priceFeeds[token] = priceFeed;
comet.getPrice(_priceFeed);
priceFeeds[_token] = _priceFeed;
}

function setFees(
uint24 _compToEthFee,
uint24 _rewardToEthFee,
uint24 _ethToBaseFee,
uint24 _ethToAssetFee
) external onlyManagement {
_setFees(_compToEthFee, _ethToBaseFee, _ethToAssetFee);
_setFees(_rewardToEthFee, _ethToBaseFee, _ethToAssetFee);
}

function _setFees(
uint24 _compToEthFee,
uint24 _rewardToEthFee,
uint24 _ethToBaseFee,
uint24 _ethToAssetFee
) internal {
address _weth = base;
_setUniFees(comp, _weth, _compToEthFee);
_setUniFees(rewardToken, _weth, _rewardToEthFee);
_setUniFees(baseToken, _weth, _ethToBaseFee);
_setUniFees(asset, _weth, _ethToAssetFee);
}
Expand Down Expand Up @@ -232,6 +234,10 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
_leveragePosition(
Math.min(balanceOfAsset(), availableDepositLimit(address(this)))
);
} else {
// Accrue the balances of both contracts.
comet.accrueAccount(address(this));
comet.accrueAccount(address(depositer));
}

//base token owed should be 0 here but we count it just in case
Expand Down Expand Up @@ -281,7 +287,9 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
}

// Else we need to either adjust LTV up or down.
_leveragePosition(_totalIdle);
_leveragePosition(
Math.min(_totalIdle, availableDepositLimit(address(this)))
);
}

/**
Expand All @@ -292,6 +300,8 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
* @return . Should return true if tend() should be called by keeper or false if not.
*/
function tendTrigger() public view override returns (bool) {
if (comet.isSupplyPaused() || comet.isWithdrawPaused()) return false;

// if we are in danger of being liquidated tend no matter what
if (comet.isLiquidatable(address(this))) return true;

Expand Down Expand Up @@ -349,13 +359,68 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
function availableDepositLimit(
address /*_owner*/
) public view override returns (uint256) {
// We need to be able to both supply and withdraw on deposits.
if (comet.isSupplyPaused() || comet.isWithdrawPaused()) return 0;

return
uint256(
comet.getAssetInfoByAddress(asset).supplyCap -
comet.totalsCollateral(asset).totalSupplyAsset
);
}

/**
* @notice Gets the max amount of `asset` that can be withdrawn.
* @dev Defaults to an unlimited amount for any address. But can
* be overriden by strategists.
*
* This function will be called before any withdraw or redeem to enforce
* any limits desired by the strategist. This can be used for illiquid
* or sandwhichable strategies. It should never be lower than `totalIdle`.
*
* EX:
* return TokenIzedStrategy.totalIdle();
*
* This does not need to take into account the `_owner`'s share balance
* or conversion rates from shares to assets.
*
* @param . The address that is withdrawing from the strategy.
* @return . The avialable amount that can be withdrawn in terms of `asset`
*/
function availableWithdrawLimit(
address /*_owner*/
) public view override returns (uint256) {
// Default liquidity is the balance of base token
uint256 liquidity = balanceOfCollateral();

// If we can't withdraw or supply, set liquidity = 0.
if (comet.isSupplyPaused() || comet.isWithdrawPaused()) {
liquidity = 0;

// If there is not enough liquidity to pay back our full debt.
} else if (
ERC20(baseToken).balanceOf(address(comet)) < balanceOfDebt()
) {
// Adjust liquidity based on withdrawing the full amount of debt.
unchecked {
liquidity =
liquidity -
(
((_fromUsd(
_toUsd(
balanceOfDebt() -
ERC20(baseToken).balanceOf(address(comet)),
baseToken
),
asset
) * MAX_BPS) / _getTargetLTV())
);
}
}

return TokenizedStrategy.totalIdle() + liquidity;
}

// ----------------- INTERNAL FUNCTIONS SUPPORT ----------------- \\

function _leveragePosition(uint256 _amount) internal {
Expand Down Expand Up @@ -623,7 +688,7 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
function rewardsInAsset() public view returns (uint256) {
// underreport by 10% for safety
return
(_fromUsd(_toUsd(depositer.getRewardsOwed(), comp), asset) *
(_fromUsd(_toUsd(depositer.getRewardsOwed(), rewardToken), asset) *
9_000) / MAX_BPS;
}

Expand Down Expand Up @@ -709,26 +774,28 @@ contract Strategy is BaseTokenizedStrategy, UniswapV3Swapper {
function _claimAndSellRewards() internal {
_claimRewards();

uint256 compBalance;
uint256 rewardTokenBalance;
uint256 baseNeeded = baseTokenOwedBalance();

if (baseNeeded > 0) {
compBalance = ERC20(comp).balanceOf(address(this));
rewardTokenBalance = ERC20(rewardToken).balanceOf(address(this));
// We estimate how much we will need in order to get the amount of base
// Accounts for slippage and diff from oracle price, just to assure no horrible sandwhich
uint256 maxComp = (_fromUsd(_toUsd(baseNeeded, baseToken), comp) *
10_500) / MAX_BPS;
if (maxComp < compBalance) {
// If we have enough swap and exact amount out
_swapTo(comp, baseToken, baseNeeded, maxComp);
uint256 maxRewardToken = (_fromUsd(
_toUsd(baseNeeded, baseToken),
rewardToken
) * 10_500) / MAX_BPS;
if (maxRewardToken < rewardTokenBalance) {
// If we have enough swap an exact amount out
_swapTo(rewardToken, baseToken, baseNeeded, maxRewardToken);
} else {
// if not swap everything we have
_swapFrom(comp, baseToken, compBalance, 0);
_swapFrom(rewardToken, baseToken, rewardTokenBalance, 0);
}
}

compBalance = ERC20(comp).balanceOf(address(this));
_swapFrom(comp, asset, compBalance, 0);
rewardTokenBalance = ERC20(rewardToken).balanceOf(address(this));
_swapFrom(rewardToken, asset, rewardTokenBalance, 0);
}

// This should only ever get called when withdrawing all funds from the strategy if there is debt left over.
Expand Down
6 changes: 5 additions & 1 deletion src/interfaces/Compound/V3/CompoundV3.sol
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Original file line number Diff line number Diff line change
@@ -1,5 +1,5 @@
// SPDX-License-Identifier: MIT
pragma solidity >=0.6.12;
pragma solidity 0.8.18;
pragma experimental ABIEncoderV2;

import "@openzeppelin/contracts/token/ERC20/IERC20.sol";
Expand Down Expand Up @@ -129,6 +129,10 @@ interface Comet is IERC20 {
function isLiquidatable(address _address) external view returns (bool);

function baseBorrowMin() external view returns (uint256);

function isSupplyPaused() external view returns (bool);

function isWithdrawPaused() external view returns (bool);
}

interface CometRewards {
Expand Down

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