Plain Pools
Plain pools are liquidity exchange contracts which contain at least 2 and up to 8 coins.
Contract Source & Deployment
Source code available on Github.
The deployment of plain pools is permissionless and can be done via the deploy_plain_pool
function within the StableSwap-NG Factory.
Examples
The examples following each code block of the corresponding functions provide a basic illustration of input/output values. When using the function in production, ensure not to set _min_dy
, _min_amount
, etc., to zero or other arbitrary numbers. Otherwise, MEV bots may frontrun or sandwich your transaction, leading to a potential loss of funds.
The examples are based on the crvUSD-USDV pool: 0xe1e77de32fb301ce55871ba095fd6b8e5d9abad8.
Exchange Methods¶
The AMM contract utilizes two internal functions to transfer tokens/coins in and out of the pool and then accordingly update stored_balances
:
-
_transfer_in()
_transfer_in(coin_idx: int128, dx: uint256, sender: address, expect_optimistic_transfer: bool) -> uint256:
expect_optimistic_transfer
is relevant when using theexchange_received()
function.Input Type Description coin_idx
int128
index value of the token to transfer in dx
uint256
amount to transfer in sender
address
address to transfer coins from expect_optimistic_transfer
bool
True
if the contract expect an optimistic coin transferstored_balances: DynArray[uint256, MAX_COINS] @internal def _transfer_in( coin_idx: int128, dx: uint256, sender: address, expect_optimistic_transfer: bool, ) -> uint256: """ @notice Contains all logic to handle ERC20 token transfers. @param coin_idx Index of the coin to transfer in. @param dx amount of `_coin` to transfer into the pool. @param dy amount of `_coin` to transfer out of the pool. @param sender address to transfer `_coin` from. @param receiver address to transfer `_coin` to. @param expect_optimistic_transfer True if contract expects an optimistic coin transfer """ _dx: uint256 = ERC20(coins[coin_idx]).balanceOf(self) # ------------------------- Handle Transfers ----------------------------- if expect_optimistic_transfer: _dx = _dx - self.stored_balances[coin_idx] assert _dx >= dx else: assert dx > 0 # dev : do not transferFrom 0 tokens into the pool assert ERC20(coins[coin_idx]).transferFrom( sender, self, dx, default_return_value=True ) _dx = ERC20(coins[coin_idx]).balanceOf(self) - _dx # --------------------------- Store transferred in amount --------------------------- self.stored_balances[coin_idx] += _dx return _dx
-
_transfer_out()
_transfer_out(_coin_idx: int128, _amount: uint256, receiver: address):
Input Type Description coin_idx
int128
index value of the token to transfer out _amount
uint256
amount to transfer out receiver
address
address to send the tokens to stored_balances: DynArray[uint256, MAX_COINS] @internal def _transfer_out(_coin_idx: int128, _amount: uint256, receiver: address): """ @notice Transfer a single token from the pool to receiver. @dev This function is called by `remove_liquidity` and `remove_liquidity_one`, `_exchange` and `_withdraw_admin_fees` methods. @param _coin_idx Index of the token to transfer out @param _amount Amount of token to transfer out @param receiver Address to send the tokens to """ # 'gulp' coin balance of the pool to stored_balances here to account for # donations etc. coin_balance: uint256 = ERC20(coins[_coin_idx]).balanceOf(self) # ------------------------- Handle Transfers ----------------------------- assert ERC20(coins[_coin_idx]).transfer( receiver, _amount, default_return_value=True ) # ----------------------- Update Stored Balances ------------------------- self.stored_balances[_coin_idx] = coin_balance - _amount
exchange
¶
StableSwap.exchange(i: int128, j: int128, _dx: uint256, _min_dy: uint256, _receiver: address = msg.sender) -> uint256:
Function to exchange _dx
amount of coin i
for coin j
and receive a minimum amount of _min_dy
.
Returns: amount of output coin received (uint256
).
Emits: TokenExchange
Input | Type | Description |
---|---|---|
i | in128 | index value of input coin |
j | in128 | index value of output coin |
_dx | uint256 | amount of coin i being exchanged |
_min_dy | uint256 | minumum amount of coin j to receive |
_receiver | address | receiver of the output tokens; defaults to msg.sender |
Source code
event TokenExchange:
buyer: indexed(address)
sold_id: int128
tokens_sold: uint256
bought_id: int128
tokens_bought: uint256
@external
@nonreentrant('lock')
def exchange(
i: int128,
j: int128,
_dx: uint256,
_min_dy: uint256,
_receiver: address = msg.sender,
) -> uint256:
"""
@notice Perform an exchange between two coins
@dev Index values can be found via the `coins` public getter method
@param i Index value for the coin to send
@param j Index value of the coin to recieve
@param _dx Amount of `i` being exchanged
@param _min_dy Minimum amount of `j` to receive
@return Actual amount of `j` received
"""
return self._exchange(
msg.sender,
i,
j,
_dx,
_min_dy,
_receiver,
False
)
@internal
def _exchange(
sender: address,
i: int128,
j: int128,
_dx: uint256,
_min_dy: uint256,
receiver: address,
expect_optimistic_transfer: bool
) -> uint256:
assert i != j # dev: coin index out of range
assert _dx > 0 # dev: do not exchange 0 coins
rates: DynArray[uint256, MAX_COINS] = self._stored_rates()
old_balances: DynArray[uint256, MAX_COINS] = self._balances()
xp: DynArray[uint256, MAX_COINS] = self._xp_mem(rates, old_balances)
# --------------------------- Do Transfer in -----------------------------
# `dx` is whatever the pool received after ERC20 transfer:
dx: uint256 = self._transfer_in(
i,
_dx,
sender,
expect_optimistic_transfer
)
# ------------------------------- Exchange -------------------------------
x: uint256 = xp[i] + dx * rates[i] / PRECISION
dy: uint256 = self.__exchange(x, xp, rates, i, j)
assert dy >= _min_dy, "Exchange resulted in fewer coins than expected"
# --------------------------- Do Transfer out ----------------------------
self._transfer_out(j, dy, receiver)
# ------------------------------------------------------------------------
log TokenExchange(msg.sender, i, _dx, j, dy)
return dy
def __exchange(
x: uint256,
_xp: DynArray[uint256, MAX_COINS],
rates: DynArray[uint256, MAX_COINS],
i: int128,
j: int128,
) -> uint256:
amp: uint256 = self._A()
D: uint256 = self.get_D(_xp, amp)
y: uint256 = self.get_y(i, j, x, _xp, amp, D)
dy: uint256 = _xp[j] - y - 1 # -1 just in case there were some rounding errors
dy_fee: uint256 = dy * self._dynamic_fee((_xp[i] + x) / 2, (_xp[j] + y) / 2, self.fee) / FEE_DENOMINATOR
# Convert all to real units
dy = (dy - dy_fee) * PRECISION / rates[j]
self.admin_balances[j] += (
dy_fee * admin_fee / FEE_DENOMINATOR
) * PRECISION / rates[j]
# Calculate and store state prices:
xp: DynArray[uint256, MAX_COINS] = _xp
xp[i] = x
xp[j] = y
# D is not changed because we did not apply a fee
self.upkeep_oracles(xp, amp, D)
return dy
Note
This function exchanges one crvUSD for 0.999712 amount of USDV. expected_dy
calculates the predicted input amount j
to receive dy
of coin i
. This value can then be used as _min_dy
in the exchange
function.
exchange_received
¶
StableSwap.exchange_received(i: int128, j: int128, _dx: uint256, _min_dy: uint256, _receiver: address) -> uint256:
Danger
exchange_received
will revert if the pool contains a rebasing asset. A pool that contains a rebasing token should have an asset_type of 2. If this is not the case, the pool is using an incorrect implementation, and rebases can be stolen.
Function to exchange _dx
amount of coin i
for coin j
, receiving a minimum amount of _min_dy
. This is done without actually transferring the coins into the pool. The exchange is based on the change in the balance of coin i
, eliminating the need to grant approval to the contract.
Returns: amount of output coin received (uint256
).
Emits: TokenExchange
Input | Type | Description |
---|---|---|
i | in128 | index value of input coin |
j | in128 | index value of output coin |
_dx | uint256 | amount of coin i being exchanged |
_min_dy | uint256 | minumum amount of coin j to receive |
_receiver | address | receiver of the output tokens; defaults to msg.sender |
Source code
event TokenExchange:
buyer: indexed(address)
sold_id: int128
tokens_sold: uint256
bought_id: int128
tokens_bought: uint256
stored_balances: DynArray[uint256, MAX_COINS]
@external
@nonreentrant('lock')
def exchange_received(
i: int128,
j: int128,
_dx: uint256,
_min_dy: uint256,
_receiver: address = msg.sender,
) -> uint256:
"""
@notice Perform an exchange between two coins without transferring token in
@dev The contract swaps tokens based on a change in balance of coin[i]. The
dx = ERC20(coin[i]).balanceOf(self) - self.stored_balances[i]. Users of
this method are dex aggregators, arbitrageurs, or other users who do not
wish to grant approvals to the contract: they would instead send tokens
directly to the contract and call `exchange_received`.
Note: This is disabled if pool contains rebasing tokens.
@param i Index value for the coin to send
@param j Index valie of the coin to recieve
@param _dx Amount of `i` being exchanged
@param _min_dy Minimum amount of `j` to receive
@return Actual amount of `j` received
"""
assert not 2 in asset_types # dev: exchange_received not supported if pool contains rebasing tokens
return self._exchange(
msg.sender,
i,
j,
_dx,
_min_dy,
_receiver,
True, # <--------------------------------------- swap optimistically.
)
@internal
def _exchange(
sender: address,
i: int128,
j: int128,
_dx: uint256,
_min_dy: uint256,
receiver: address,
expect_optimistic_transfer: bool
) -> uint256:
assert i != j # dev: coin index out of range
assert _dx > 0 # dev: do not exchange 0 coins
rates: DynArray[uint256, MAX_COINS] = self._stored_rates()
old_balances: DynArray[uint256, MAX_COINS] = self._balances()
xp: DynArray[uint256, MAX_COINS] = self._xp_mem(rates, old_balances)
# --------------------------- Do Transfer in -----------------------------
# `dx` is whatever the pool received after ERC20 transfer:
dx: uint256 = self._transfer_in(
i,
_dx,
sender,
expect_optimistic_transfer
)
# ------------------------------- Exchange -------------------------------
x: uint256 = xp[i] + dx * rates[i] / PRECISION
dy: uint256 = self.__exchange(x, xp, rates, i, j)
assert dy >= _min_dy, "Exchange resulted in fewer coins than expected"
# --------------------------- Do Transfer out ----------------------------
self._transfer_out(j, dy, receiver)
# ------------------------------------------------------------------------
log TokenExchange(msg.sender, i, _dx, j, dy)
return dy
def __exchange(
x: uint256,
_xp: DynArray[uint256, MAX_COINS],
rates: DynArray[uint256, MAX_COINS],
i: int128,
j: int128,
) -> uint256:
amp: uint256 = self._A()
D: uint256 = self.get_D(_xp, amp)
y: uint256 = self.get_y(i, j, x, _xp, amp, D)
dy: uint256 = _xp[j] - y - 1 # -1 just in case there were some rounding errors
dy_fee: uint256 = dy * self._dynamic_fee((_xp[i] + x) / 2, (_xp[j] + y) / 2, self.fee) / FEE_DENOMINATOR
# Convert all to real units
dy = (dy - dy_fee) * PRECISION / rates[j]
self.admin_balances[j] += (
dy_fee * admin_fee / FEE_DENOMINATOR
) * PRECISION / rates[j]
# Calculate and store state prices:
xp: DynArray[uint256, MAX_COINS] = _xp
xp[i] = x
xp[j] = y
# D is not changed because we did not apply a fee
self.upkeep_oracles(xp, amp, D)
return dy
Note
First, there needs to be a token transfer into the pool. Here, one crvUSD is transferred into the pool. Afterwards, exchange_received
can be called to swap one crvUSD for dy
USDV.
More information on this method here.
get_dy
¶
StableSwap.get_dy(i: int128, j: int128, dx: uint256) -> uint256:
Function to calculate the predicted output amount j
to receive at the pool's current state given a input of dx
amount coin i
. This is just a getter method, the calculation logic is within the CurveStableSwapNGViews contract. See here.
Returns: predicted output amount of j
(uint256
).
Input | Type | Description |
---|---|---|
i | int128 | index value of input coin |
j | int128 | index value of output coin |
dx | uint256 | amount of input coin being exchanged |
Source code
interface Factory:
def fee_receiver() -> address: view
def admin() -> address: view
def views_implementation() -> address: view
@view
@external
def get_dy(i: int128, j: int128, dx: uint256) -> uint256:
"""
@notice Calculate the current output dy given input dx
@dev Index values can be found via the `coins` public getter method
@param i Index value for the coin to send
@param j Index valie of the coin to recieve
@param dx Amount of `i` being exchanged
@return Amount of `j` predicted
"""
return StableSwapViews(factory.views_implementation()).get_dy(i, j, dx, self)
@view
@external
def get_dy(i: int128, j: int128, dx: uint256, pool: address) -> uint256:
"""
@notice Calculate the current output dy given input dx
@dev Index values can be found via the `coins` public getter method
@param i Index value for the coin to send
@param j Index valie of the coin to recieve
@param dx Amount of `i` being exchanged
@return Amount of `j` predicted
"""
N_COINS: uint256 = StableSwapNG(pool).N_COINS()
rates: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
balances: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
xp: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
rates, balances, xp = self._get_rates_balances_xp(pool, N_COINS)
amp: uint256 = StableSwapNG(pool).A() * A_PRECISION
D: uint256 = self.get_D(xp, amp, N_COINS)
x: uint256 = xp[i] + (dx * rates[i] / PRECISION)
y: uint256 = self.get_y(i, j, x, xp, amp, D, N_COINS)
dy: uint256 = xp[j] - y - 1
base_fee: uint256 = StableSwapNG(pool).fee()
fee_multiplier: uint256 = StableSwapNG(pool).offpeg_fee_multiplier()
fee: uint256 = self._dynamic_fee((xp[i] + x) / 2, (xp[j] + y) / 2, base_fee, fee_multiplier) * dy / FEE_DENOMINATOR
return (dy - fee) * PRECISION / rates[j]
get_dx
¶
StableSwap.get_dx(i: int128, j: int128, dy: uint256) -> uint256:
Function to calculate the predicted input amount i
to receive dy
of coin j
at the pool's current state. This is just a getter method, the calculation logic is within the CurveStableSwapNGViews contract. See here.
Returns: predicted input amount of i
(uint256
).
Input | Type | Description |
---|---|---|
i | int128 | index value of input coin |
j | int128 | index value of output coin |
dy | uint256 | amount of output coin received |
Source code
interface StableSwapViews:
def get_dx(i: int128, j: int128, dy: uint256, pool: address) -> uint256: view
def get_dy(i: int128, j: int128, dx: uint256, pool: address) -> uint256: view
def dynamic_fee(i: int128, j: int128, pool: address) -> uint256: view
def calc_token_amount(
_amounts: DynArray[uint256, MAX_COINS],
_is_deposit: bool,
_pool: address
) -> uint256: view
@view
@external
def get_dx(i: int128, j: int128, dy: uint256) -> uint256:
"""
@notice Calculate the current input dx given output dy
@dev Index values can be found via the `coins` public getter method
@param i Index value for the coin to send
@param j Index valie of the coin to recieve
@param dy Amount of `j` being received after exchange
@return Amount of `i` predicted
"""
return StableSwapViews(factory.views_implementation()).get_dx(i, j, dy, self)
@view
@external
def get_dx(i: int128, j: int128, dy: uint256, pool: address) -> uint256:
"""
@notice Calculate the current input dx given output dy
@dev Index values can be found via the `coins` public getter method
@param i Index value for the coin to send
@param j Index valie of the coin to recieve
@param dy Amount of `j` being received after exchange
@return Amount of `i` predicted
"""
N_COINS: uint256 = StableSwapNG(pool).N_COINS()
return self._get_dx(i, j, dy, pool, False, N_COINS)
@view
@internal
def _get_dx(
i: int128,
j: int128,
dy: uint256,
pool: address,
static_fee: bool,
N_COINS: uint256
) -> uint256:
rates: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
balances: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
xp: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
rates, balances, xp = self._get_rates_balances_xp(pool, N_COINS)
amp: uint256 = StableSwapNG(pool).A() * A_PRECISION
D: uint256 = self.get_D(xp, amp, N_COINS)
base_fee: uint256 = StableSwapNG(pool).fee()
dy_with_fee: uint256 = dy * rates[j] / PRECISION + 1
fee: uint256 = base_fee
if not static_fee:
fee_multiplier: uint256 = StableSwapNG(pool).offpeg_fee_multiplier()
fee = self._dynamic_fee(xp[i], xp[j], base_fee, fee_multiplier)
y: uint256 = xp[j] - dy_with_fee * FEE_DENOMINATOR / (FEE_DENOMINATOR - fee)
x: uint256 = self.get_y(j, i, y, xp, amp, D, N_COINS)
return (x - xp[i]) * PRECISION / rates[i]
Adding / Removing Liquidity¶
add_liquidity
¶
StableSwap.add_liquidity(_amounts: DynArray[uint256, MAX_COINS], _min_mint_amount: uint256, _receiver: address = msg.sender) -> uint256:
Function to add liquidity into the pool and mint the corresponding LP tokens.
Returns: amount of LP tokens received (uint256
).
Emits: Transfer
and AddLiquidity
Input | Type | Description |
---|---|---|
_amounts | DynArray[uint256, MAX_COINS] | list of amounts of coins to deposit |
_min_amount | uint256 | minimum amount of LP tokens to mint |
_receiver | address | receiver of the LP tokens; defaults to msg.sender |
Source code
event Transfer:
sender: indexed(address)
receiver: indexed(address)
value: uint256
event AddLiquidity:
provider: indexed(address)
token_amounts: DynArray[uint256, MAX_COINS]
fees: DynArray[uint256, MAX_COINS]
invariant: uint256
token_supply: uint256
@external
@nonreentrant('lock')
def add_liquidity(
_amounts: DynArray[uint256, MAX_COINS],
_min_mint_amount: uint256,
_receiver: address = msg.sender
) -> uint256:
"""
@notice Deposit coins into the pool
@param _amounts List of amounts of coins to deposit
@param _min_mint_amount Minimum amount of LP tokens to mint from the deposit
@param _receiver Address that owns the minted LP tokens
@return Amount of LP tokens received by depositing
"""
amp: uint256 = self._A()
old_balances: DynArray[uint256, MAX_COINS] = self._balances()
rates: DynArray[uint256, MAX_COINS] = self._stored_rates()
# Initial invariant
D0: uint256 = self.get_D_mem(rates, old_balances, amp)
total_supply: uint256 = self.total_supply
new_balances: DynArray[uint256, MAX_COINS] = old_balances
# -------------------------- Do Transfers In -----------------------------
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
if _amounts[i] > 0:
new_balances[i] += self._transfer_in(
i,
_amounts[i],
msg.sender,
False, # expect_optimistic_transfer
)
else:
assert total_supply != 0 # dev: initial deposit requires all coins
# ------------------------------------------------------------------------
# Invariant after change
D1: uint256 = self.get_D_mem(rates, new_balances, amp)
assert D1 > D0
# We need to recalculate the invariant accounting for fees
# to calculate fair user's share
fees: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
mint_amount: uint256 = 0
if total_supply > 0:
ideal_balance: uint256 = 0
difference: uint256 = 0
new_balance: uint256 = 0
ys: uint256 = (D0 + D1) / N_COINS
xs: uint256 = 0
_dynamic_fee_i: uint256 = 0
# Only account for fees if we are not the first to deposit
base_fee: uint256 = self.fee * N_COINS / (4 * (N_COINS - 1))
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
ideal_balance = D1 * old_balances[i] / D0
difference = 0
new_balance = new_balances[i]
if ideal_balance > new_balance:
difference = ideal_balance - new_balance
else:
difference = new_balance - ideal_balance
# fee[i] = _dynamic_fee(i, j) * difference / FEE_DENOMINATOR
xs = unsafe_div(rates[i] * (old_balances[i] + new_balance), PRECISION)
_dynamic_fee_i = self._dynamic_fee(xs, ys, base_fee)
fees.append(_dynamic_fee_i * difference / FEE_DENOMINATOR)
self.admin_balances[i] += fees[i] * admin_fee / FEE_DENOMINATOR
new_balances[i] -= fees[i]
xp: DynArray[uint256, MAX_COINS] = self._xp_mem(rates, new_balances)
D1 = self.get_D(xp, amp) # <--------------- Reuse D1 for new D value.
mint_amount = total_supply * (D1 - D0) / D0
self.upkeep_oracles(xp, amp, D1)
else:
mint_amount = D1 # Take the dust if there was any
# (re)instantiate D oracle if totalSupply is zero.
self.last_D_packed = self.pack_2(D1, D1)
assert mint_amount >= _min_mint_amount, "Slippage screwed you"
# Mint pool tokens
total_supply += mint_amount
self.balanceOf[_receiver] += mint_amount
self.total_supply = total_supply
log Transfer(empty(address), _receiver, mint_amount)
log AddLiquidity(msg.sender, _amounts, fees, D1, total_supply)
return mint_amount
remove_liquidity
¶
StableSwap.remove_liquidity(_burn_amount: uint256, _min_amounts: DynArray[uint256, MAX_COINS], _receiver: address = msg.sender, _claim_admin_fees: bool = True) -> DynArray[uint256, MAX_COINS]:
Function to remove coins from the liquidity pool in a balanced ratio. Admin fees might be claimed after liquidity was removed.
Returns: amount of coins withdrawn (DynArray[uint256, MAX_COINS]
)
Emits: RemoveLiquidity
Input | Type | Description |
---|---|---|
_burn_amount | uint256 | amount of LP tokens to be burned |
_min_amounts | DynArray[uint256, MAX_COINS] | minimum amounts of coins to receive |
_receiver | address | receiver of the coins; defaults to msg.sender |
_claim_admin_fees | bool | if admin fees should be claimed; defaults to true |
Info
When removing liquidity in a balanced ratio, there is no need to update the price oracles, as this function does not alter the balance ratio within the pool. Calling this function only updates the D
oracle.
The calculation of D
does not use Newton methods, ensuring that remove_liquidity
should always work, even if the pool gets borked.
Source code
event RemoveLiquidity:
provider: indexed(address)
token_amounts: DynArray[uint256, MAX_COINS]
fees: DynArray[uint256, MAX_COINS]
token_supply: uint256
@external
@nonreentrant('lock')
def remove_liquidity(
_burn_amount: uint256,
_min_amounts: DynArray[uint256, MAX_COINS],
_receiver: address = msg.sender,
_claim_admin_fees: bool = True,
) -> DynArray[uint256, MAX_COINS]:
"""
@notice Withdraw coins from the pool
@dev Withdrawal amounts are based on current deposit ratios
@param _burn_amount Quantity of LP tokens to burn in the withdrawal
@param _min_amounts Minimum amounts of underlying coins to receive
@param _receiver Address that receives the withdrawn coins
@return List of amounts of coins that were withdrawn
"""
total_supply: uint256 = self.total_supply
assert _burn_amount > 0 # dev: invalid burn amount
amounts: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
balances: DynArray[uint256, MAX_COINS] = self._balances()
value: uint256 = 0
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
value = balances[i] * _burn_amount / total_supply
assert value >= _min_amounts[i], "Withdrawal resulted in fewer coins than expected"
amounts.append(value)
self._transfer_out(i, value, _receiver)
self._burnFrom(msg.sender, _burn_amount) # <---- Updates self.total_supply
# --------------------------- Upkeep D_oracle ----------------------------
ma_last_time_unpacked: uint256[2] = self.unpack_2(self.ma_last_time)
last_D_packed_current: uint256 = self.last_D_packed
old_D: uint256 = last_D_packed_current & (2**128 - 1)
self.last_D_packed = self.pack_2(
old_D - unsafe_div(old_D * _burn_amount, total_supply), # new_D = proportionally reduce D.
self._calc_moving_average(
last_D_packed_current,
self.D_ma_time,
ma_last_time_unpacked[1]
)
)
if ma_last_time_unpacked[1] < block.timestamp:
ma_last_time_unpacked[1] = block.timestamp
self.ma_last_time = self.pack_2(ma_last_time_unpacked[0], ma_last_time_unpacked[1])
# ------------------------------- Log event ------------------------------
log RemoveLiquidity(
msg.sender,
amounts,
empty(DynArray[uint256, MAX_COINS]),
total_supply - _burn_amount
)
# ------- Withdraw admin fees if _claim_admin_fees is set to True --------
if _claim_admin_fees:
self._withdraw_admin_fees()
return amounts
Note
remove_liquidity
removes liquidity in a balanced proportion according to the balances in the pool.
remove_liquidity_one_coin
¶
StableSwap.remove_liquidity_one_coin(_burn_amount: uint256, i: int128, _min_received: uint256, _receiver: address = msg.sender) -> uint256:
Function to withdraw a single coin from the liquidity pool. The corresponding LP tokens will be burned.
Returns: coins received (uint256
).
Emits: RemoveLiquidityOne
Input | Type | Description |
---|---|---|
_burn_amount | uint256 | amount of LP tokens to burn/withdraw |
i | int128 | index value of the coin to withdraw |
_min_received | uint256 | minimum amount of coin to receive |
_receiver | address | receiver of the coins; defaults to msg.sender |
Source code
event RemoveLiquidityOne:
provider: indexed(address)
token_id: int128
token_amount: uint256
coin_amount: uint256
token_supply: uint256
@external
@nonreentrant('lock')
def remove_liquidity_one_coin(
_burn_amount: uint256,
i: int128,
_min_received: uint256,
_receiver: address = msg.sender,
) -> uint256:
"""
@notice Withdraw a single coin from the pool
@param _burn_amount Amount of LP tokens to burn in the withdrawal
@param i Index value of the coin to withdraw
@param _min_received Minimum amount of coin to receive
@param _receiver Address that receives the withdrawn coins
@return Amount of coin received
"""
assert _burn_amount > 0 # dev: do not remove 0 LP tokens
dy: uint256 = 0
fee: uint256 = 0
xp: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
amp: uint256 = empty(uint256)
D: uint256 = empty(uint256)
dy, fee, xp, amp, D = self._calc_withdraw_one_coin(_burn_amount, i)
assert dy >= _min_received, "Not enough coins removed"
self.admin_balances[i] += fee * admin_fee / FEE_DENOMINATOR
self._burnFrom(msg.sender, _burn_amount)
self._transfer_out(i, dy, _receiver)
log RemoveLiquidityOne(msg.sender, i, _burn_amount, dy, self.total_supply)
self.upkeep_oracles(xp, amp, D)
return dy
@view
@internal
def _calc_withdraw_one_coin(
_burn_amount: uint256,
i: int128
) -> (
uint256,
uint256,
DynArray[uint256, MAX_COINS],
uint256,
uint256
):
# First, need to calculate
# * Get current D
# * Solve Eqn against y_i for D - _token_amount
amp: uint256 = self._A()
rates: DynArray[uint256, MAX_COINS] = self._stored_rates()
xp: DynArray[uint256, MAX_COINS] = self._xp_mem(rates, self._balances())
D0: uint256 = self.get_D(xp, amp)
total_supply: uint256 = self.total_supply
D1: uint256 = D0 - _burn_amount * D0 / total_supply
new_y: uint256 = self.get_y_D(amp, i, xp, D1)
base_fee: uint256 = self.fee * N_COINS / (4 * (N_COINS - 1))
ys: uint256 = (D0 + D1) / (2 * N_COINS)
xp_reduced: DynArray[uint256, MAX_COINS] = xp
dx_expected: uint256 = 0
xp_j: uint256 = 0
xavg: uint256 = 0
dynamic_fee: uint256 = 0
for j in range(MAX_COINS_128):
if j == N_COINS_128:
break
dx_expected = 0
xp_j = xp[j]
if j == i:
dx_expected = xp_j * D1 / D0 - new_y
xavg = (xp_j + new_y) / 2
else:
dx_expected = xp_j - xp_j * D1 / D0
xavg = xp_j
dynamic_fee = self._dynamic_fee(xavg, ys, base_fee)
xp_reduced[j] = xp_j - dynamic_fee * dx_expected / FEE_DENOMINATOR
dy: uint256 = xp_reduced[i] - self.get_y_D(amp, i, xp_reduced, D1)
dy_0: uint256 = (xp[i] - new_y) * PRECISION / rates[i] # w/o fees
dy = (dy - 1) * PRECISION / rates[i] # Withdraw less to account for rounding errors
# update xp with new_y for p calculations.
xp[i] = new_y
return dy, dy_0 - dy, xp, amp, D1
Note
Both examples involve removing one LP token. With remove_liquidity_one_coin
targeted at the higher balanced coin of the pool, a small premium is received. Conversely, when removing liquidity in the form of the lower balance token in the pool, slightly less is received. An estimated value of the output can be obtained via calc_withdraw_one_coin
.
remove_liquidity_imbalance
¶
StableSwap.remove_liquidity_imbalance(_amounts: DynArray[uint256, MAX_COINS], _max_burn_amount: uint256, _receiver: address = msg.sender) -> uint256:
Function to remove coins from the liquidity pool in an imbalanced amount.
Returns: amount of LP tokens burned (uint256
).
Emits: RemoveLiquidityImbalance
Input | Type | Description |
---|---|---|
_amounts | DynArray[uint256, MAX_COINS] | list of amounts of coins to withdraw |
_max_burn_amount | uint256 | maximum amount of LP tokens to burn |
receiver | address | receiver of the coins; defaults to msg.sender |
Source code
event RemoveLiquidityImbalance:
provider: indexed(address)
token_amounts: DynArray[uint256, MAX_COINS]
fees: DynArray[uint256, MAX_COINS]
invariant: uint256
token_supply: uint256
@external
@nonreentrant('lock')
def remove_liquidity_imbalance(
_amounts: DynArray[uint256, MAX_COINS],
_max_burn_amount: uint256,
_receiver: address = msg.sender
) -> uint256:
"""
@notice Withdraw coins from the pool in an imbalanced amount
@param _amounts List of amounts of underlying coins to withdraw
@param _max_burn_amount Maximum amount of LP token to burn in the withdrawal
@param _receiver Address that receives the withdrawn coins
@return Actual amount of the LP token burned in the withdrawal
"""
amp: uint256 = self._A()
rates: DynArray[uint256, MAX_COINS] = self._stored_rates()
old_balances: DynArray[uint256, MAX_COINS] = self._balances()
D0: uint256 = self.get_D_mem(rates, old_balances, amp)
new_balances: DynArray[uint256, MAX_COINS] = old_balances
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
if _amounts[i] != 0:
new_balances[i] -= _amounts[i]
self._transfer_out(i, _amounts[i], _receiver)
D1: uint256 = self.get_D_mem(rates, new_balances, amp)
base_fee: uint256 = self.fee * N_COINS / (4 * (N_COINS - 1))
ys: uint256 = (D0 + D1) / N_COINS
fees: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
dynamic_fee: uint256 = 0
xs: uint256 = 0
ideal_balance: uint256 = 0
difference: uint256 = 0
new_balance: uint256 = 0
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
ideal_balance = D1 * old_balances[i] / D0
difference = 0
new_balance = new_balances[i]
if ideal_balance > new_balance:
difference = ideal_balance - new_balance
else:
difference = new_balance - ideal_balance
xs = unsafe_div(rates[i] * (old_balances[i] + new_balance), PRECISION)
dynamic_fee = self._dynamic_fee(xs, ys, base_fee)
fees.append(dynamic_fee * difference / FEE_DENOMINATOR)
self.admin_balances[i] += fees[i] * admin_fee / FEE_DENOMINATOR
new_balances[i] -= fees[i]
D1 = self.get_D_mem(rates, new_balances, amp) # dev: reuse D1 for new D.
self.upkeep_oracles(new_balances, amp, D1)
total_supply: uint256 = self.total_supply
burn_amount: uint256 = ((D0 - D1) * total_supply / D0) + 1
assert burn_amount > 1 # dev: zero tokens burned
assert burn_amount <= _max_burn_amount, "Slippage screwed you"
total_supply -= burn_amount
self._burnFrom(msg.sender, burn_amount)
log RemoveLiquidityImbalance(msg.sender, _amounts, fees, D1, total_supply)
return burn_amount
calc_withdraw_one_coin
¶
StableSwap.calc_withdraw_one_coin(_burn_amount: uint256, i: int128) -> uint256:
Function to calculate the amount of single token i
withdrawn when burning _burn_amount
LP tokens.
Returns: amount of tokens withdrawn (uint256
).
Input | Type | Description |
---|---|---|
_burn_amount | uint256 | amount of LP tokens to burn |
i | int128 | index value of the coin to withdraw |
Source code
@view
@external
def calc_withdraw_one_coin(_burn_amount: uint256, i: int128) -> uint256:
"""
@notice Calculate the amount received when withdrawing a single coin
@param _burn_amount Amount of LP tokens to burn in the withdrawal
@param i Index value of the coin to withdraw
@return Amount of coin received
"""
return self._calc_withdraw_one_coin(_burn_amount, i)[0]
@view
@internal
def _calc_withdraw_one_coin(
_burn_amount: uint256,
i: int128
) -> (
uint256,
uint256,
DynArray[uint256, MAX_COINS],
uint256,
uint256
):
# First, need to calculate
# * Get current D
# * Solve Eqn against y_i for D - _token_amount
amp: uint256 = self._A()
rates: DynArray[uint256, MAX_COINS] = self._stored_rates()
xp: DynArray[uint256, MAX_COINS] = self._xp_mem(rates, self._balances())
D0: uint256 = self.get_D(xp, amp)
total_supply: uint256 = self.total_supply
D1: uint256 = D0 - _burn_amount * D0 / total_supply
new_y: uint256 = self.get_y_D(amp, i, xp, D1)
base_fee: uint256 = self.fee * N_COINS / (4 * (N_COINS - 1))
ys: uint256 = (D0 + D1) / (2 * N_COINS)
xp_reduced: DynArray[uint256, MAX_COINS] = xp
dx_expected: uint256 = 0
xp_j: uint256 = 0
xavg: uint256 = 0
dynamic_fee: uint256 = 0
for j in range(MAX_COINS_128):
if j == N_COINS_128:
break
dx_expected = 0
xp_j = xp[j]
if j == i:
dx_expected = xp_j * D1 / D0 - new_y
xavg = (xp_j + new_y) / 2
else:
dx_expected = xp_j - xp_j * D1 / D0
xavg = xp_j
dynamic_fee = self._dynamic_fee(xavg, ys, base_fee)
xp_reduced[j] = xp_j - dynamic_fee * dx_expected / FEE_DENOMINATOR
dy: uint256 = xp_reduced[i] - self.get_y_D(amp, i, xp_reduced, D1)
dy_0: uint256 = (xp[i] - new_y) * PRECISION / rates[i] # w/o fees
dy = (dy - 1) * PRECISION / rates[i] # Withdraw less to account for rounding errors
# update xp with new_y for p calculations.
xp[i] = new_y
return dy, dy_0 - dy, xp, amp, D1
calc_token_amount
¶
StableSwap.calc_token_amount(_amounts: DynArray[uint256, MAX_COINS], _is_deposit: bool) -> uint256:
Function to calculate the addition or reduction of token supply from a deposit (add liquidity) or withdrawal (remove liquidity). This function does take fees into consideration.
Returns: amount of LP tokens (uint256
).
Input | Type | Description |
---|---|---|
_amounts | DynArray[uint256, MAX_COINS] | amount of coins being deposited/withdrawn |
_is_deposit | bool | true = deposit, false = withdraw |
Source code
interface Factory:
def fee_receiver() -> address: view
def admin() -> address: view
def views_implementation() -> address: view
@view
@external
def calc_token_amount(
_amounts: DynArray[uint256, MAX_COINS],
_is_deposit: bool
) -> uint256:
"""
@notice Calculate addition or reduction in token supply from a deposit or withdrawal
@param _amounts Amount of each coin being deposited
@param _is_deposit set True for deposits, False for withdrawals
@return Expected amount of LP tokens received
"""
return StableSwapViews(factory.views_implementation()).calc_token_amount(_amounts, _is_deposit, self)
@view
@external
def calc_token_amount(
_amounts: DynArray[uint256, MAX_COINS],
_is_deposit: bool,
pool: address
) -> uint256:
"""
@notice Calculate addition or reduction in token supply from a deposit or withdrawal
@param _amounts Amount of each coin being deposited
@param _is_deposit set True for deposits, False for withdrawals
@return Expected amount of LP tokens received
"""
amp: uint256 = StableSwapNG(pool).A() * A_PRECISION
N_COINS: uint256 = StableSwapNG(pool).N_COINS()
rates: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
old_balances: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
xp: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
rates, old_balances, xp = self._get_rates_balances_xp(pool, N_COINS)
# Initial invariant
D0: uint256 = self.get_D(xp, amp, N_COINS)
total_supply: uint256 = StableSwapNG(pool).totalSupply()
new_balances: DynArray[uint256, MAX_COINS] = old_balances
for i in range(MAX_COINS):
if i == N_COINS:
break
amount: uint256 = _amounts[i]
if _is_deposit:
new_balances[i] += amount
else:
new_balances[i] -= amount
# Invariant after change
for idx in range(MAX_COINS):
if idx == N_COINS:
break
xp[idx] = rates[idx] * new_balances[idx] / PRECISION
D1: uint256 = self.get_D(xp, amp, N_COINS)
# We need to recalculate the invariant accounting for fees
# to calculate fair user's share
D2: uint256 = D1
if total_supply > 0:
# Only account for fees if we are not the first to deposit
base_fee: uint256 = StableSwapNG(pool).fee() * N_COINS / (4 * (N_COINS - 1))
fee_multiplier: uint256 = StableSwapNG(pool).offpeg_fee_multiplier()
_dynamic_fee_i: uint256 = 0
xs: uint256 = 0
ys: uint256 = (D0 + D1) / N_COINS
for i in range(MAX_COINS):
if i == N_COINS:
break
ideal_balance: uint256 = D1 * old_balances[i] / D0
difference: uint256 = 0
new_balance: uint256 = new_balances[i]
if ideal_balance > new_balance:
difference = ideal_balance - new_balance
else:
difference = new_balance - ideal_balance
xs = old_balances[i] + new_balance
_dynamic_fee_i = self._dynamic_fee(xs, ys, base_fee, fee_multiplier)
new_balances[i] -= _dynamic_fee_i * difference / FEE_DENOMINATOR
for idx in range(MAX_COINS):
if idx == N_COINS:
break
xp[idx] = rates[idx] * new_balances[idx] / PRECISION
D2 = self.get_D(xp, amp, N_COINS)
else:
return D1 # Take the dust if there was any
diff: uint256 = 0
if _is_deposit:
diff = D2 - D0
else:
diff = D0 - D2
return diff * total_supply / D0
>>> StableSwap.calc_token_amount([10**18, 0], True) # deposit (coin[0])
999701503692424994
>>> StableSwap.calc_token_amount([0, 10**6], True) # deposit (coin[1])
999875942505458416
>>> StableSwap.calc_token_amount([10**18, 10**6], True) # deposit (coin[0] and coin[1])
1999863130101592370
>>> StableSwap.calc_token_amount([10**18, 0], False) # withdraw (coin[1])
999987187514411723
>>> StableSwap.calc_token_amount([10**18, 0], False) # withdraw (coin[0])
1000188312578139610
>>> StableSwap.calc_token_amount([10**18, 10**6], False) # withdraw (coin[0] and coin[1])
1999889816188803581
Note
If _is_deposit
is True, the method calculates the increase in LP token supply when adding _amounts
of tokens to the pool. Conversely, when _is_deposit
is False, the method calculates the decrease in LP token supply when removing _amounts
of tokens from the pool. This is a view
function and does not actually alter any states.
Fee Methods¶
Stableswap-ng introduces a dynamic fee based on the imbalance of the coins within the pool and their pegs:
_dynamic_fee
offpeg_fee_multiplier: public(uint256) # * 1e10
@view
@internal
def _dynamic_fee(xpi: uint256, xpj: uint256, _fee: uint256) -> uint256:
_offpeg_fee_multiplier: uint256 = self.offpeg_fee_multiplier
if _offpeg_fee_multiplier <= FEE_DENOMINATOR:
return _fee
xps2: uint256 = (xpi + xpj) ** 2
return (
(_offpeg_fee_multiplier * _fee) /
((_offpeg_fee_multiplier - FEE_DENOMINATOR) * 4 * xpi * xpj / xps2 + FEE_DENOMINATOR)
)
More on dynamic fees here.
fee
¶
StableSwap.fee() -> uint256: view
Getter method for the fee of the pool. This is the value set when initializing the contract and can be changed via set_new_fee
.
Returns: fee (uint256
).
Source code
fee: public(uint256) # fee * 1e10
@external
def __init__(
_name: String[32],
_symbol: String[10],
_A: uint256,
_fee: uint256,
_offpeg_fee_multiplier: uint256,
_ma_exp_time: uint256,
_coins: DynArray[address, MAX_COINS],
_rate_multipliers: DynArray[uint256, MAX_COINS],
_asset_types: DynArray[uint8, MAX_COINS],
_method_ids: DynArray[bytes4, MAX_COINS],
_oracles: DynArray[address, MAX_COINS],
):
...
self.fee = _fee
...
Note
The method returns an integer with with 1e10 precision.
dynamic_fee
¶
StableSwap.dynamic_fee(i: int128, j: int128) -> uint256:
Getter for the swap fee when exchanging between i
and j
. The swap fee is expressed as an integer with a 1e10 precision.
Returns: dynamic fee (uint256
).
Input | Type | Description |
---|---|---|
i | int128 | index value of input coin |
j | int128 | index value of output coin |
Source code
@view
@external
def dynamic_fee(i: int128, j: int128) -> uint256:
"""
@notice Return the fee for swapping between `i` and `j`
@param i Index value for the coin to send
@param j Index value of the coin to recieve
@return Swap fee expressed as an integer with 1e10 precision
"""
return StableSwapViews(factory.views_implementation()).dynamic_fee(i, j, self)
@view
@external
def dynamic_fee(i: int128, j: int128, pool:address) -> uint256:
"""
@notice Return the fee for swapping between `i` and `j`
@param i Index value for the coin to send
@param j Index value of the coin to recieve
@return Swap fee expressed as an integer with 1e10 precision
"""
N_COINS: uint256 = StableSwapNG(pool).N_COINS()
fee: uint256 = StableSwapNG(pool).fee()
fee_multiplier: uint256 = StableSwapNG(pool).offpeg_fee_multiplier()
rates: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
balances: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
xp: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
rates, balances, xp = self._get_rates_balances_xp(pool, N_COINS)
return self._dynamic_fee(xp[i], xp[j], fee, fee_multiplier)
@view
@internal
def _dynamic_fee(xpi: uint256, xpj: uint256, _fee: uint256, _fee_multiplier: uint256) -> uint256:
if _fee_multiplier <= FEE_DENOMINATOR:
return _fee
xps2: uint256 = (xpi + xpj) ** 2
return (
(_fee_multiplier * _fee) /
((_fee_multiplier - FEE_DENOMINATOR) * 4 * xpi * xpj / xps2 + FEE_DENOMINATOR)
)
@view
@internal
def _get_rates_balances_xp(pool: address, N_COINS: uint256) -> (
DynArray[uint256, MAX_COINS],
DynArray[uint256, MAX_COINS],
DynArray[uint256, MAX_COINS],
):
rates: DynArray[uint256, MAX_COINS] = StableSwapNG(pool).stored_rates()
balances: DynArray[uint256, MAX_COINS] = StableSwapNG(pool).get_balances()
xp: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
for idx in range(MAX_COINS):
if idx == N_COINS:
break
xp.append(rates[idx] * balances[idx] / PRECISION)
return rates, balances, xp
Note
The method returns an integer with with 1e10 precision.
admin_fee
¶
StableSwap.admin_fee() -> uint256: view
Getter for the admin fee.
Returns: admin fee (uint256
).
Note
- The method returns an integer with with 1e10 precision.
admin_fee
is a constant and set at 50% (5000000000).
offpeg_fee_multiplier
¶
StableSwap.offpeg_fee_multiplier() -> uint256: view
Getter method for the off-peg fee multiplier. This value determines how much the fee increases when assets within the AMM depeg. This value can be changed via set_new_fee
.
Returns: offpeg fee multiplier (uint256
)
Source code
offpeg_fee_multiplier: public(uint256) # * 1e10
@external
def __init__(
_name: String[32],
_symbol: String[10],
_A: uint256,
_fee: uint256,
_offpeg_fee_multiplier: uint256,
_ma_exp_time: uint256,
_coins: DynArray[address, MAX_COINS],
_rate_multipliers: DynArray[uint256, MAX_COINS],
_asset_types: DynArray[uint8, MAX_COINS],
_method_ids: DynArray[bytes4, MAX_COINS],
_oracles: DynArray[address, MAX_COINS],
):
...
self.offpeg_fee_multiplier = _offpeg_fee_multiplier
...
Note
The method returns an integer with with 1e10 precision.
admin_balances
¶
StableSwap.admin_balances(arg0: uint256) -> uint256: view
Getter for the accumulated admin balance of the pool for a coin. These values essentially represent the claimable admin fee.
Returns: admin balances (uint256
).
Input | Type | Description |
---|---|---|
arg0 | uint256 | index value of the coin |
withdraw_admin_fees
¶
StableSwap.withdraw_admin_fees():
Function to withdraw accumulated admin fees from the pool and send them to the fee_receiver
set in the Factory.
Source code
interface Factory:
def fee_receiver() -> address: view
def admin() -> address: view
def views_implementation() -> address: view
admin_balances: public(DynArray[uint256, MAX_COINS])
@external
def withdraw_admin_fees():
"""
@notice Claim admin fees. Callable by anyone.
"""
self._withdraw_admin_fees()
@internal
def _withdraw_admin_fees():
fee_receiver: address = factory.fee_receiver()
assert fee_receiver != empty(address) # dev: fee receiver not set
admin_balances: DynArray[uint256, MAX_COINS] = self.admin_balances
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
if admin_balances[i] > 0:
self._transfer_out(i, admin_balances[i], fee_receiver)
admin_balances[i] = 0
self.admin_balances = admin_balances
Oracle Methods¶
Oracles are updated whenever upkeep_oracles()
was called. This occurrs when calling add_liquidity
, remove_liquidity_one_coin
, remove_liquidity_imbalanced
, exchange
or exchanged_received
.
When removing liquidity in a balanced portion (remove_liquidity
), oracles are not updated as it does not change the price within the AMM, as it does not mess with the coin balance ratio of the pool.
upkeep_oracles
@internal
def upkeep_oracles(xp: DynArray[uint256, MAX_COINS], amp: uint256, D: uint256):
"""
@notice Upkeeps price and D oracles.
"""
ma_last_time_unpacked: uint256[2] = self.unpack_2(self.ma_last_time)
last_prices_packed_current: DynArray[uint256, MAX_COINS] = self.last_prices_packed
last_prices_packed_new: DynArray[uint256, MAX_COINS] = last_prices_packed_current
spot_price: DynArray[uint256, MAX_COINS] = self._get_p(xp, amp, D)
# -------------------------- Upkeep price oracle -------------------------
for i in range(MAX_COINS):
if i == N_COINS - 1:
break
if spot_price[i] != 0:
# Upate packed prices -----------------
last_prices_packed_new[i] = self.pack_2(
spot_price[i],
self._calc_moving_average(
last_prices_packed_current[i],
self.ma_exp_time,
ma_last_time_unpacked[0], # index 0 is ma_exp_time for prices
)
)
self.last_prices_packed = last_prices_packed_new
# ---------------------------- Upkeep D oracle ---------------------------
last_D_packed_current: uint256 = self.last_D_packed
self.last_D_packed = self.pack_2(
D,
self._calc_moving_average(
last_D_packed_current,
self.D_ma_time,
ma_last_time_unpacked[1], # index 1 is ma_exp_time for D
)
)
# Housekeeping: Update ma_last_time for p and D oracles ------------------
for i in range(2):
if ma_last_time_unpacked[i] < block.timestamp:
ma_last_time_unpacked[i] = block.timestamp
self.ma_last_time = self.pack_2(ma_last_time_unpacked[0], ma_last_time_unpacked[1])
last_price
¶
StableSwap.last_price(i: uint256) -> uint256:
Getter method for the last price (often referred to as the spot price) for the coin at index value i
stored in last_prices_packed
. The spot price is retrieved from the lower 128 bits of the packed value in last_prices_packed
.
The last prices are updated whenever the internal upkeep_oracles()
function is called.
Returns: last price of token i
(uint256
).
Input | Type | Description |
---|---|---|
i | uint256 | index value of coin |
Revert
This function reverts if i >= MAX_COINS
.
Source code
ema_price
¶
StableSwap.ema_price(i: uint256) -> uint256:
Getter method for the EMA (exponential moving average) price for the coin at index value i
stored in last_prices_packed
. The EMA price is extracted by shifting the packed value in last_prices_packed
to the right by 128 bits.
The EMA price is updated whenever the internal upkeep_oracles()
function is called.
Returns: ema price of coin i
(uint256
).
Input | Type | Description |
---|---|---|
i | uint256 | index value of coin |
Revert
This function reverts if i >= MAX_COINS
.
Source code
get_p
¶
StableSwap.get_p(i: uint256) -> uint256:
Getter for the AMM state price for the coin at index value i
.
Returns: state price (uint256
).
Input | Type | Description |
---|---|---|
i | uint256 | index of state price |
Info
i = 0
will return the state price of coin[1]
.
Source code
@external
@view
def get_p(i: uint256) -> uint256:
"""
@notice Returns the AMM State price of token
@dev if i = 0, it will return the state price of coin[1].
@param i index of state price (0 for coin[1], 1 for coin[2], ...)
@return uint256 The state price quoted by the AMM for coin[i+1]
"""
amp: uint256 = self._A()
xp: DynArray[uint256, MAX_COINS] = self._xp_mem(
self._stored_rates(), self._balances()
)
D: uint256 = self.get_D(xp, amp)
return self._get_p(xp, amp, D)[i]
@internal
@pure
def _get_p(
xp: DynArray[uint256, MAX_COINS],
amp: uint256,
D: uint256,
) -> DynArray[uint256, MAX_COINS]:
# dx_0 / dx_1 only, however can have any number of coins in pool
ANN: uint256 = unsafe_mul(amp, N_COINS)
Dr: uint256 = unsafe_div(D, pow_mod256(N_COINS, N_COINS))
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
Dr = Dr * D / xp[i]
p: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
xp0_A: uint256 = ANN * xp[0] / A_PRECISION
for i in range(1, MAX_COINS):
if i == N_COINS:
break
p.append(10**18 * (xp0_A + Dr * xp[0] / xp[i]) / (xp0_A + Dr))
return p
price_oracle
¶
StableSwap.price_oracle(i: uint256) -> uint256:
Function to calculate the exponential moving average (ema) price for the coin at index value i
.
Returns: price oracle (uint256
).
Input | Type | Description |
---|---|---|
i | uint256 | index value of coin |
Source code
last_prices_packed: DynArray[uint256, MAX_COINS] # packing: last_price, ma_price
last_D_packed: uint256 # packing: last_D, ma_D
ma_exp_time: public(uint256)
D_ma_time: public(uint256)
ma_last_time: public(uint256) # packing: ma_last_time_p, ma_last_time_D
# ma_last_time has a distinction for p and D because p is _not_ updated if
# users remove_liquidity, but D is.
@external
@view
@nonreentrant('lock')
def price_oracle(i: uint256) -> uint256:
return self._calc_moving_average(
self.last_prices_packed[i],
self.ma_exp_time,
self.ma_last_time & (2**128 - 1)
)
@internal
@view
def _calc_moving_average(
packed_value: uint256,
averaging_window: uint256,
ma_last_time: uint256
) -> uint256:
last_spot_value: uint256 = packed_value & (2**128 - 1)
last_ema_value: uint256 = (packed_value >> 128)
if ma_last_time < block.timestamp: # calculate new_ema_value and return that.
alpha: uint256 = self.exp(
-convert(
(block.timestamp - ma_last_time) * 10**18 / averaging_window, int256
)
)
return (last_spot_value * (10**18 - alpha) + last_ema_value * alpha) / 10**18
return last_ema_value
ma_exp_time
¶
StableSwap.ma_exp_time() -> uint256: view
Getter for the exponential moving average time. This value can be adjusted via set_ma_exp_time()
, see admin controls.
Returns: EMA time (uint256
).
D_oracle
¶
StableSwap.D_oracle() -> uint256:
Getter for the current ema oracle value for D.
Returns: ema of D (uint256
).
Source code
last_prices_packed: DynArray[uint256, MAX_COINS] # packing: last_price, ma_price
last_D_packed: uint256 # packing: last_D, ma_D
ma_exp_time: public(uint256)
D_ma_time: public(uint256)
ma_last_time: public(uint256) # packing: ma_last_time_p, ma_last_time_D
# ma_last_time has a distinction for p and D because p is _not_ updated if
# users remove_liquidity, but D is.
@external
@view
@nonreentrant('lock')
def D_oracle() -> uint256:
return self._calc_moving_average(
self.last_D_packed,
self.D_ma_time,
self.ma_last_time >> 128
)
@internal
@view
def _calc_moving_average(
packed_value: uint256,
averaging_window: uint256,
ma_last_time: uint256
) -> uint256:
last_spot_value: uint256 = packed_value & (2**128 - 1)
last_ema_value: uint256 = (packed_value >> 128)
if ma_last_time < block.timestamp: # calculate new_ema_value and return that.
alpha: uint256 = self.exp(
-convert(
(block.timestamp - ma_last_time) * 10**18 / averaging_window, int256
)
)
return (last_spot_value * (10**18 - alpha) + last_ema_value * alpha) / 10**18
return last_ema_value
D_ma_time
¶
StableSwap.D_ma_time() -> uint256: view
Getter for the exponential moving average time for D. This value can be adjusted via set_ma_exp_time()
, see admin controls.
Returns: D EMA time (uint256
).
ma_last_time
¶
StableSwap.ma_last_time() -> uint256: view
Getter for the last time the moving average (MA) was updated. This variable contains two packed values: ma_last_time_p and ma_last_time_D, as they are not always updated simultaneously. For instance, when users remove_liquidity
, ma_last_time of p is not updated, but D is. Other than that, both values are updated simultaneously.
Returns: last ma time (uint256
).
Source code
Note
This value needs to be unpacked, as it contains two variables (ma_last_time_p
, ma_last_time_D
). The value 579359617954437487117250992339883299967854142015 is unpacked into two uint256 numbers. First, its lower 128 bits are isolated using a bitwise AND with 2**128 − 1, and then the value is shifted right by 128 bits to extract the upper 128 bits. It returns: [1702584895,1702584895].
Amplification Coefficient¶
The amplification coefficient A
determines a pool’s tolerance for imbalance between the assets within it. A higher value means that trades will incur slippage sooner as the assets within the pool become imbalanced.
The appropriate value for A is dependent upon the type of coin being used within the pool, and is subject to optimisation and pool-parameter update based on the market history of the trading pair. It is possible to modify the amplification coefficient for a pool after it has been deployed. This can be done via the ramp_A
function. See admin controls.
When a ramping of A has been initialized, the process can be stopped by calling the function stop_ramp_A()
.
A
¶
StableSwap.A() -> uint256:
Getter for the amplification coefficient A.
Returns: A (uint256
).
Source code
A_PRECISION: constant(uint256) = 100
MAX_A: constant(uint256) = 10 ** 6
MAX_A_CHANGE: constant(uint256) = 10
initial_A: public(uint256)
future_A: public(uint256)
initial_A_time: public(uint256)
future_A_time: public(uint256)
@view
@external
def A() -> uint256:
return self._A() / A_PRECISION
@view
@internal
def _A() -> uint256:
"""
Handle ramping A up or down
"""
t1: uint256 = self.future_A_time
A1: uint256 = self.future_A
if block.timestamp < t1:
A0: uint256 = self.initial_A
t0: uint256 = self.initial_A_time
# Expressions in uint256 cannot have negative numbers, thus "if"
if A1 > A0:
return A0 + (A1 - A0) * (block.timestamp - t0) / (t1 - t0)
else:
return A0 - (A0 - A1) * (block.timestamp - t0) / (t1 - t0)
else: # when t1 == 0 or block.timestamp >= t1
return A1
A_precise
¶
StableSwap.A_precise() -> uint256:
Getter for the precise A value, which is not divided by A_PRECISION
unlike A()
.
Returns: precise A (uint256
).
Source code
A_PRECISION: constant(uint256) = 100
MAX_A: constant(uint256) = 10 ** 6
MAX_A_CHANGE: constant(uint256) = 10
initial_A: public(uint256)
future_A: public(uint256)
initial_A_time: public(uint256)
future_A_time: public(uint256)
@view
@external
def A_precise() -> uint256:
return self._A()
@view
@internal
def _A() -> uint256:
"""
Handle ramping A up or down
"""
t1: uint256 = self.future_A_time
A1: uint256 = self.future_A
if block.timestamp < t1:
A0: uint256 = self.initial_A
t0: uint256 = self.initial_A_time
# Expressions in uint256 cannot have negative numbers, thus "if"
if A1 > A0:
return A0 + (A1 - A0) * (block.timestamp - t0) / (t1 - t0)
else:
return A0 - (A0 - A1) * (block.timestamp - t0) / (t1 - t0)
else: # when t1 == 0 or block.timestamp >= t1
return A1
initial_A
¶
StableSwap.initial_A() -> uint256: view
Getter for the initial A value.
Returns: initial A (uint256
).
Source code
A_PRECISION: constant(uint256) = 100
MAX_A: constant(uint256) = 10 ** 6
MAX_A_CHANGE: constant(uint256) = 10
initial_A: public(uint256)
future_A: public(uint256)
initial_A_time: public(uint256)
future_A_time: public(uint256)
@external
def ramp_A(_future_A: uint256, _future_time: uint256):
assert msg.sender == factory.admin() # dev: only owner
assert block.timestamp >= self.initial_A_time + MIN_RAMP_TIME
assert _future_time >= block.timestamp + MIN_RAMP_TIME # dev: insufficient time
_initial_A: uint256 = self._A()
_future_A_p: uint256 = _future_A * A_PRECISION
assert _future_A > 0 and _future_A < MAX_A
if _future_A_p < _initial_A:
assert _future_A_p * MAX_A_CHANGE >= _initial_A
else:
assert _future_A_p <= _initial_A * MAX_A_CHANGE
self.initial_A = _initial_A
self.future_A = _future_A_p
self.initial_A_time = block.timestamp
self.future_A_time = _future_time
log RampA(_initial_A, _future_A_p, block.timestamp, _future_time)
future_A
¶
StableSwap.future_A() -> uint256: view
Getter for the future A value. This value is adjusted when ramping A.
Returns: future A (uint256
).
Source code
A_PRECISION: constant(uint256) = 100
MAX_A: constant(uint256) = 10 ** 6
MAX_A_CHANGE: constant(uint256) = 10
initial_A: public(uint256)
future_A: public(uint256)
initial_A_time: public(uint256)
future_A_time: public(uint256)
@external
def ramp_A(_future_A: uint256, _future_time: uint256):
assert msg.sender == factory.admin() # dev: only owner
assert block.timestamp >= self.initial_A_time + MIN_RAMP_TIME
assert _future_time >= block.timestamp + MIN_RAMP_TIME # dev: insufficient time
_initial_A: uint256 = self._A()
_future_A_p: uint256 = _future_A * A_PRECISION
assert _future_A > 0 and _future_A < MAX_A
if _future_A_p < _initial_A:
assert _future_A_p * MAX_A_CHANGE >= _initial_A
else:
assert _future_A_p <= _initial_A * MAX_A_CHANGE
self.initial_A = _initial_A
self.future_A = _future_A_p
self.initial_A_time = block.timestamp
self.future_A_time = _future_time
log RampA(_initial_A, _future_A_p, block.timestamp, _future_time)
initial_A_time
¶
StableSwap.initial_A_time() -> uint256: view
Getter for the initial A time. This is the timestamp when ramping A was initialized.
Returns: initial A time (uint256
).
Source code
A_PRECISION: constant(uint256) = 100
MAX_A: constant(uint256) = 10 ** 6
MAX_A_CHANGE: constant(uint256) = 10
initial_A: public(uint256)
future_A: public(uint256)
initial_A_time: public(uint256)
future_A_time: public(uint256)
@external
def ramp_A(_future_A: uint256, _future_time: uint256):
assert msg.sender == factory.admin() # dev: only owner
assert block.timestamp >= self.initial_A_time + MIN_RAMP_TIME
assert _future_time >= block.timestamp + MIN_RAMP_TIME # dev: insufficient time
_initial_A: uint256 = self._A()
_future_A_p: uint256 = _future_A * A_PRECISION
assert _future_A > 0 and _future_A < MAX_A
if _future_A_p < _initial_A:
assert _future_A_p * MAX_A_CHANGE >= _initial_A
else:
assert _future_A_p <= _initial_A * MAX_A_CHANGE
self.initial_A = _initial_A
self.future_A = _future_A_p
self.initial_A_time = block.timestamp
self.future_A_time = _future_time
log RampA(_initial_A, _future_A_p, block.timestamp, _future_time)
future_A_time
¶
StableSwap.future_A_time() -> uint256: view
Getter for the future A time. This is the timestamp when ramping A should be finished.
Returns: future A time (uint256
).
Source code
A_PRECISION: constant(uint256) = 100
MAX_A: constant(uint256) = 10 ** 6
MAX_A_CHANGE: constant(uint256) = 10
initial_A: public(uint256)
future_A: public(uint256)
initial_A_time: public(uint256)
future_A_time: public(uint256)
@external
def ramp_A(_future_A: uint256, _future_time: uint256):
assert msg.sender == factory.admin() # dev: only owner
assert block.timestamp >= self.initial_A_time + MIN_RAMP_TIME
assert _future_time >= block.timestamp + MIN_RAMP_TIME # dev: insufficient time
_initial_A: uint256 = self._A()
_future_A_p: uint256 = _future_A * A_PRECISION
assert _future_A > 0 and _future_A < MAX_A
if _future_A_p < _initial_A:
assert _future_A_p * MAX_A_CHANGE >= _initial_A
else:
assert _future_A_p <= _initial_A * MAX_A_CHANGE
self.initial_A = _initial_A
self.future_A = _future_A_p
self.initial_A_time = block.timestamp
self.future_A_time = _future_time
log RampA(_initial_A, _future_A_p, block.timestamp, _future_time)
Contract Info Methods¶
coins
¶
StableSwap.coins(arg0: uint256) -> addresss: view
Getter for the coin at index arg0
within the pool.
Returns: coin (address
).
Source code
coins: public(immutable(DynArray[address, MAX_COINS]))
@external
def __init__(
_name: String[32],
_symbol: String[10],
_A: uint256,
_fee: uint256,
_offpeg_fee_multiplier: uint256,
_ma_exp_time: uint256,
_coins: DynArray[address, MAX_COINS],
_rate_multipliers: DynArray[uint256, MAX_COINS],
_asset_types: DynArray[uint8, MAX_COINS],
_method_ids: DynArray[bytes4, MAX_COINS],
_oracles: DynArray[address, MAX_COINS],
):
...
coins = _coins
...
balances
¶
StableSwap.balances(i: uint256) -> uint256:
Getter for the current balance of coin i
within the pool.
Returns: coin balance (uint256
).
Input | Type | Description |
---|---|---|
i | uint256 | index value of coin |
Source code
@view
@external
def balances(i: uint256) -> uint256:
"""
@notice Get the current balance of a coin within the
pool, less the accrued admin fees
@param i Index value for the coin to query balance of
@return Token balance
"""
return self._balances()[i]
@view
@internal
def _balances() -> DynArray[uint256, MAX_COINS]:
"""
@notice Calculates the pool's balances _excluding_ the admin's balances.
@dev If the pool contains rebasing tokens, this method ensures LPs keep all
rebases and admin only claims swap fees. This also means that, since
admin's balances are stored in an array and not inferred from read balances,
the fees in the rebasing token that the admin collects is immune to
slashing events.
"""
result: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
balances_i: uint256 = 0
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
if 2 in asset_types:
balances_i = ERC20(coins[i]).balanceOf(self) - self.admin_balances[i]
else:
balances_i = self.stored_balances[i] - self.admin_balances[i]
result.append(balances_i)
return result
get_balances
¶
StableSwap.get_balances() -> DynArray[uint256, MAX_COINS]:
Getter for an array with all coin balances in the pool.
Returns: coin balances (DynArray[uint256, MAX_COINS]
).
Info
This getter method does not account for admin fees (admin_balances
).
Source code
@view
@external
def get_balances() -> DynArray[uint256, MAX_COINS]:
return self._balances()
@view
@internal
def _balances() -> DynArray[uint256, MAX_COINS]:
"""
@notice Calculates the pool's balances _excluding_ the admin's balances.
@dev If the pool contains rebasing tokens, this method ensures LPs keep all
rebases and admin only claims swap fees. This also means that, since
admin's balances are stored in an array and not inferred from read balances,
the fees in the rebasing token that the admin collects is immune to
slashing events.
"""
result: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
balances_i: uint256 = 0
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
if POOL_IS_REBASING_IMPLEMENTATION:
balances_i = ERC20(coins[i]).balanceOf(self) - self.admin_balances[i]
else:
balances_i = self.stored_balances[i] - self.admin_balances[i]
result.append(balances_i)
return result
stored_rates
¶
StableSwap.stored_rates() -> DynArray[uint256, MAX_COINS]:
Getter for the rate multiplier of each coin.
Returns: stored rates (DynArray[uint256, MAX_COINS]
).
Info
If the coin has a rate oracle that has been properly initialized, this method queries that rate by static-calling an external contract.
Source code
rate_multipliers: immutable(DynArray[uint256, MAX_COINS])
# [bytes4 method_id][bytes8 <empty>][bytes20 oracle]
oracles: DynArray[uint256, MAX_COINS]
@view
@external
def stored_rates() -> DynArray[uint256, MAX_COINS]:
return self._stored_rates()
@view
@internal
def _stored_rates() -> DynArray[uint256, MAX_COINS]:
"""
@notice Gets rate multipliers for each coin.
@dev If the coin has a rate oracle that has been properly initialised,
this method queries that rate by static-calling an external
contract.
"""
rates: DynArray[uint256, MAX_COINS] = rate_multipliers
oracles: DynArray[uint256, MAX_COINS] = self.oracles
for i in range(MAX_COINS_128):
if i == N_COINS_128:
break
if asset_types[i] == 1 and not oracles[i] == 0:
# NOTE: fetched_rate is assumed to be 10**18 precision
fetched_rate: uint256 = convert(
raw_call(
convert(oracles[i] % 2**160, address),
_abi_encode(oracles[i] & ORACLE_BIT_MASK),
max_outsize=32,
is_static_call=True,
),
uint256
)
rates[i] = unsafe_div(rates[i] * fetched_rate, PRECISION)
elif asset_types[i] == 3: # ERC4626
# fetched_rate: uint256 = ERC4626(coins[i]).convertToAssets(call_amount[i]) * scale_factor[i]
# here: call_amount has ERC4626 precision, but the returned value is scaled up to 18
# using scale_factor which is (18 - n) if underlying asset has n decimals.
rates[i] = unsafe_div(
rates[i] * ERC4626(coins[i]).convertToAssets(call_amount[i]) * scale_factor[i],
PRECISION
) # 1e18 precision
return rates
N_COINS
¶
StableSwap.N_COINS() -> uint256: view
Getter for the total number of coins in the pool.
Returns: number of coins (uint256
).
Info
There can be a maximum of 8 coins per pool due to MAX_COINS = 8
.
Source code
MAX_COINS: constant(uint256) = 8 # max coins is 8 in the factory
N_COINS: public(immutable(uint256))
@external
def __init__(
_name: String[32],
_symbol: String[10],
_A: uint256,
_fee: uint256,
_offpeg_fee_multiplier: uint256,
_ma_exp_time: uint256,
_coins: DynArray[address, MAX_COINS],
_rate_multipliers: DynArray[uint256, MAX_COINS],
_asset_types: DynArray[uint8, MAX_COINS],
_method_ids: DynArray[bytes4, MAX_COINS],
_oracles: DynArray[address, MAX_COINS],
):
...
coins = _coins
__n_coins: uint256 = len(_coins)
N_COINS = __n_coins
N_COINS_128 = convert(__n_coins, int128)
...
totalSupply
¶
StableSwap.totalSupply() -> uint256:
Getter for the total supply of the LP token.
Returns: total supply (uint256
).
Source code
get_virtual_price
¶
StableSwap.get_virtual_price() -> uint256:
Attack Vector
This method may be vulnerable to donation-style attacks if the implementation contains rebasing tokens. For integrators, caution is advised.
Getter for the current virtual price of the LP token.
Returns: virtual price (uint256
).
Source code
@view
@external
@nonreentrant('lock')
def get_virtual_price() -> uint256:
"""
@notice The current virtual price of the pool LP token
@dev Useful for calculating profits.
The method may be vulnerable to donation-style attacks if implementation
contains rebasing tokens. For integrators, caution is advised.
@return LP token virtual price normalized to 1e18
"""
amp: uint256 = self._A()
xp: DynArray[uint256, MAX_COINS] = self._xp_mem(
self._stored_rates(), self._balances()
)
D: uint256 = self.get_D(xp, amp)
# D is in the units similar to DAI (e.g. converted to precision 1e18)
# When balanced, D = n * x_u - total virtual value of the portfolio
return D * PRECISION / self.total_supply
Note
- The method returns
virtual_price
as an integer with 1e18 precision. virtual_price
returns a price relative to the underlying.