StableSwap-NG Factory: Deployer API
Name and Symbol¶
The input values of _name
or _symbol
are obviously non-trivial for the performance of the pool. These parameters should visualize, what kind of tokens are included in the pool.
Coins¶
_coins
includes all tokens included in the pool as a DynArray
.
_coins = ["0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2", "0xae78736Cd615f374D3085123A210448E74Fc6393"]
A, Fee, Off-Peg Fee Multiplier, and MA-Exp-Time¶
_A
represents the amplification coefficient of the pool, signifying its density._fee
is referred to as the "base fee."- The
offpeg_fee_multiplier
parameter enables the system to dynamically adjust fees according to the pool's state. ma_exp_time
denotes the time window for the moving average oracle.
Recommended Parameters:
Parameter | Fiat-Redeemable Stablecoin | Crypto-Collateralized Stablecoin |
---|---|---|
A | 200 | 100 |
fee | 0.04% | 0.04% |
offpeg_fee_multiplier | 2 | 2 |
ma_exp_time | 866 | 866 |
_A = 200
_fee = 4000000 # 0.0001 or 0.01%
_offpeg_fee_multiplier = 20000000000 # 5 or 500%
_ma_exp_time = 866 # ~600 seconds
Parameter Precision
The precision of _fee
and _offpeg_fee_multiplier
is 1e10.
The time window of the moving average exponential oracle is calculated using time_in_seconds / ln(2)
.
Implemention ID¶
Pools are created from implementation contracts (blueprints). These contracts are added to the Factory and must be choosen when deploying a pool.
Warning
The Factory can have multiple plain- and meta-pool implementations. If there are multiple implementations for a plain or meta-pool, it's important to understand the differences and determine which one is suitable.
Additionally, implementation contracts are upgradable. They can either be replaced or have additional implementation contracts set. Please always make sure to check the most recent ones.
To query the factory-specific implementations:
Assets Types¶
Stableswap-NG infrastructure supports pools with the following asset types:
Asset Type | Description |
---|---|
0 | Standard ERC-20 token with no additional features |
1 | Oracle - token with rate oracle (e.g. wstETH) |
2 | Rebasing - token with rebase (e.g. stETH) |
3 | ERC4626 - token with convertToAssets method (e.g. sDAI) |
Consequently, supported tokens include:
- ERC-20 support for return
True/revert
,True/False
orNone
- ERC-20 tokens can have arbitrary decimals (≤18)
- ERC-20 tokens that rebase (either positive or fee on transfer)
- ERC-20 tokens that have a rate oracle (e.g. wstETH, cbETH) Oracle precision must be \(10^{18}\)
- ERC-4626 tokens with arbitrary percision (≤18) of Vault token and underlying asset
Warning
ERC20:
Users are advised to do careful due-diligence on ERC20 tokens that they interact with, as this contract cannot differentiate between harmless and malicious ERC20 tokens.Oracle:
When using tokens with oracles, its important to know that they may be controlled externally by an EOA.Rebasing:
Users and Integrators are advised to understand how the AMM contract works with rebasing balances.ERC4626:
Some ERC4626 implementations may be susceptible to Donation/Inflation attacks. Users are advised to proceed with caution.
Choosing asset types can sometimes be quite tricky. Asset types should be seen more as information for the AMM on how to treat the assets under the hood.
Example
Let's consider the example of rmETH/mETH. - mETH is a token with a rate oracle (the underlying asset is ETH). The rate can be fetched by reading the mETHToETH
method within the staking contract. - rmETH is a rebasing token.
Because the deployer wants rmETH and mETH to trade as close to 1:1 as possible, they need to treat mETH like a regular ERC-20 token (asset type 0), instead of a rate oraclized token (asset type 1).
Method IDs and Rate Oracles¶
method_ids
and _oracles
are required for rate oracles to function. ERC-4626 does not need either of these. The sole requirement for those is to have a convertToAssets
method.
Info
When deploying pools that include coins not requiring a rate oracle, b""
or 0x00000000
should be included in the _methods_id
array and the ZERO_ADDRESS
should be used in the _oracles
array as placeholders for each coin.
-
_method_ids
is the first four bytes of the Keccak-256 hash of the function signatures of the oracle addresses that give rate oracles.As an example, lets look at the rETH token. The relevant function which returns the rate is
getExchangeRate
, the according first four bytes of the Keccak-256 hash of the functions signature is therefore0xe6aa216c
. When calculating, its always important to include"()"
, as they will change the bytes. -
_oracles
is simply the contract address which provides the rate oracle function.
The input values are DynArrays
with the length of tokens in the pool. Therefore, a rETH/wETH pool would have the following input values:
_method_id = [b"", "0xe6aa216c"]
_oracles = ["0x0000000000000000000000000000000000000000", "0xae78736cd615f374d3085123a210448e74fc6393"]
Examples¶
Pool | Asset Types | Method ID's | Rate Oracle |
---|---|---|---|
mkUSD/USDC | [0, 0] | ['0x00000000', '0x00000000'] | ['0x0000000000000000000000000000000000000000', '0x0000000000000000000000000000000000000000'] |
FRAX/sDAI | [0, 3] | ['0x00000000', '0x00000000'] | ['0x0000000000000000000000000000000000000000', '0x0000000000000000000000000000000000000000'] |
wETH/rETH | [0 , 1] | ['0x00000000', '0xe6aa216c'] | ['0x0000000000000000000000000000000000000000', '0xae78736Cd615f374D3085123A210448E74Fc6393'] |
rmETH/mETH | [2 , 0] | ['0x00000000', '0x00000000'] | ['0x0000000000000000000000000000000000000000', '0x0000000000000000000000000000000000000000'] |
Deploying Plain- and Metapools¶
deploy_plain_pool
¶
Parameter limitations when deploying a plain pool:
- Minimum of 2 and maximum of 8 coins.
- All coin arrays should be the same length.
_fee
≤ 100000000 (1%)._offpeg_fee_multiplier
*_fee
≤MAX_FEE
*FEE_DENOMINATOR
.- Maximum of 18 decimals for a coin.
- No duplicate coins.
- Valid implementation index.
Factory.deploy_plain_pool(_name: String[32], _symbol: String[10], _coins: DynArray[address, MAX_COINS], _A: uint256, _fee: uint256, _offpeg_fee_multiplier: uint256, _ma_exp_time: uint256, _implementation_idx: uint256, _asset_types: DynArray[uint8, MAX_COINS], _method_ids: DynArray[bytes4, MAX_COINS], _oracles: DynArray[address, MAX_COINS], ) -> address:
Function to deploy a stableswap-ng plain pool. The pool is created from a blueprint contract.
Returns: Deployed pool (address
).
Emits: PlainPoolDeployed
Input | Type | Description |
---|---|---|
_name | String[32] | Name of the new plain pool |
_symbol | String[10] | Symbol for the new pool's LP token; this value will be concatenated with the factory symbol |
_coins | DynArray[address, MAX_COINS] | Array of addresses of the coins being used in the pool |
_A | uint256 | Amplification coefficient |
_fee | uint256 | Trade fee, given as an integer with 1e10 precision |
_offpeg_fee_multiplier | uint256 | Off-peg fee multiplier |
_ma_exp_time | uint256 | MA time; set as time_in_seconds / ln(2) |
_implementation_idx | uint256 | Index of the implementation to use |
_asset_types | DynArray[uint8, MAX_COINS] | Asset type of the pool as an integer; more here |
_method_ids | DynArray[bytes4, MAX_COINS] | Array of first four bytes of the Keccak-256 hash of the function signatures of the oracle addresses that give rate oracles |
_oracles | DynArray[address, MAX_COINS] | Array of rate oracle addresses |
Implementation ID
There might be multiple pool implementations. To query all available ones, see here. As of the current date (31.10.2023), there is only one pool implementation available. Since the _implementation_idx
starts at 0, users need to input "0" when deploying a pool.
Source code
event PlainPoolDeployed:
coins: DynArray[address, MAX_COINS]
A: uint256
fee: uint256
deployer: address
MAX_COINS: constant(uint256) = 8
MAX_FEE: constant(uint256) = 5 * 10 ** 9
FEE_DENOMINATOR: constant(uint256) = 10 ** 10
@external
def deploy_plain_pool(
_name: String[32],
_symbol: String[10],
_coins: DynArray[address, MAX_COINS],
_A: uint256,
_fee: uint256,
_offpeg_fee_multiplier: uint256,
_ma_exp_time: uint256,
_implementation_idx: uint256,
_asset_types: DynArray[uint8, MAX_COINS],
_method_ids: DynArray[bytes4, MAX_COINS],
_oracles: DynArray[address, MAX_COINS],
) -> address:
"""
@notice Deploy a new plain pool
@param _name Name of the new plain pool
@param _symbol Symbol for the new plain pool - will be
concatenated with factory symbol
@param _coins List of addresses of the coins being used in the pool.
@param _A Amplification co-efficient - a lower value here means
less tolerance for imbalance within the pool's assets.
Suggested values include:
* Uncollateralized algorithmic stablecoins: 5-10
* Non-redeemable, collateralized assets: 100
* Redeemable assets: 200-400
@param _fee Trade fee, given as an integer with 1e10 precision. The
maximum is 1% (100000000). 50% of the fee is distributed to veCRV holders.
@param _ma_exp_time Averaging window of oracle. Set as time_in_seconds / ln(2)
Example: for 10 minute EMA, _ma_exp_time is 600 / ln(2) ~= 866
@param _implementation_idx Index of the implementation to use
@param _asset_types Asset types for pool, as an integer
@param _method_ids Array of first four bytes of the Keccak-256 hash of the function signatures
of the oracle addresses that gives rate oracles.
Calculated as: keccak(text=event_signature.replace(" ", ""))[:4]
@param _oracles Array of rate oracle addresses.
@return Address of the deployed pool
"""
assert len(_coins) >= 2 # dev: pool needs to have at least two coins!
assert len(_coins) == len(_method_ids) # dev: All coin arrays should be same length
assert len(_coins) == len(_oracles) # dev: All coin arrays should be same length
assert len(_coins) == len(_asset_types) # dev: All coin arrays should be same length
assert _fee <= 100000000, "Invalid fee"
assert _offpeg_fee_multiplier * _fee <= MAX_FEE * FEE_DENOMINATOR
n_coins: uint256 = len(_coins)
_rate_multipliers: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
decimals: DynArray[uint256, MAX_COINS] = empty(DynArray[uint256, MAX_COINS])
for i in range(MAX_COINS):
if i == n_coins:
break
coin: address = _coins[i]
decimals.append(ERC20(coin).decimals())
assert decimals[i] < 19, "Max 18 decimals for coins"
_rate_multipliers.append(10 ** (36 - decimals[i]))
for j in range(i, i + MAX_COINS):
if (j + 1) == n_coins:
break
assert coin != _coins[j+1], "Duplicate coins"
implementation: address = self.pool_implementations[_implementation_idx]
assert implementation != empty(address), "Invalid implementation index"
pool: address = create_from_blueprint(
implementation,
_name, # _name: String[32]
_symbol, # _symbol: String[10]
_A, # _A: uint256
_fee, # _fee: uint256
_offpeg_fee_multiplier, # _offpeg_fee_multiplier: uint256
_ma_exp_time, # _ma_exp_time: uint256
_coins, # _coins: DynArray[address, MAX_COINS]
_rate_multipliers, # _rate_multipliers: DynArray[uint256, MAX_COINS]
_asset_types, # _asset_types: DynArray[uint8, MAX_COINS]
_method_ids, # _method_ids: DynArray[bytes4, MAX_COINS]
_oracles, # _oracles: DynArray[address, MAX_COINS]
code_offset=3
)
length: uint256 = self.pool_count
self.pool_list[length] = pool
self.pool_count = length + 1
self.pool_data[pool].decimals = decimals
self.pool_data[pool].n_coins = n_coins
self.pool_data[pool].base_pool = empty(address)
self.pool_data[pool].implementation = implementation
self.pool_data[pool].asset_types = _asset_types
for i in range(MAX_COINS):
if i == n_coins:
break
coin: address = _coins[i]
self.pool_data[pool].coins.append(coin)
for j in range(i, i + MAX_COINS):
if (j + 1) == n_coins:
break
swappable_coin: address = _coins[j + 1]
key: uint256 = (convert(coin, uint256) ^ convert(swappable_coin, uint256))
length = self.market_counts[key]
self.markets[key][length] = pool
self.market_counts[key] = length + 1
log PlainPoolDeployed(_coins, _A, _fee, msg.sender)
return pool
>>> Factory.deploy_plain_pool(
"crvUSD/USDT", # _name
"crvusd-usdt", # _symbol
[ # coins:
"0xf939E0A03FB07F59A73314E73794Be0E57ac1b4E", # crvusd
"0xdAC17F958D2ee523a2206206994597C13D831ec7" # usdt
],
1500 # _A
1000000, # _fee
20000000000, # _offpeg_fee_multiplier
865, # _ma_exp_time
0, # _implementation_idx
[0, 0], # _asset_types
[b"", b""], # _method_ids
["0x0000000000000000000000000000000000000000", "0x0000000000000000000000000000000000000000"] # _oracles
)
'returns address of the deployed plain pool'
deploy_metapool
¶
Parameter limitations when deploying a meta pool:
- Cannot pair against a token that is included in the base pool.
_fee
≤ 100000000 (1%)._offpeg_fee_multiplier
*_fee
≤MAX_FEE
*FEE_DENOMINATOR
.- Valid implementation index.
- Maximum of 18 decimals for a coin.
Factory.deploy_metapool(_base_pool: address, _name: String[32], _symbol: String[10], _coin: address, _A: uint256, _fee: uint256, _offpeg_fee_multiplier: uint256, _ma_exp_time: uint256, _implementation_idx: uint256, _asset_type: uint8, _method_id: bytes4, _oracle: address) -> address:
Function to deploy a stableswap-ng metapool.
Returns: Deployed metapool (address
).
Emits: MetaPoolDeployed
Input | Type | Description |
---|---|---|
_base_pool | address | Address of the base pool to pair the token with |
_name | String[32] | Name of the new metapool |
_symbol | String[10] | Symbol for the new metapool’s LP token - will be concatenated with the base pool symbol |
_coin | address | Address of the coin being used in the metapool |
_A | uint256 | Amplification coefficient |
_fee | uint256 | Trade fee, given as an integer with 1e10 precision |
_offpeg_fee_multiplier | uint256 | Off-peg multiplier |
_ma_exp_time | uint256 | MA time; set as time_in_seconds / ln(2) |
_implementation_idx | uint256 | Index of the implementation to use |
_asset_type | uint8 | Asset type of the pool as an integer; more here |
_method_id | bytes4 | First four bytes of the Keccak-256 hash of the function signatures of the oracle addresses that give rate oracles |
_oracle | address | Rate oracle address |
Implementation ID
There might be multiple metapool implementations. To query all available ones, see here. As of the current date (31.10.2023), there is only one metapool implementation available. Since the _implementation_idx
starts at 0, users need to input "0" when deploying a pool.
Source code
event MetaPoolDeployed:
coin: address
base_pool: address
A: uint256
fee: uint256
deployer: address
MAX_COINS: constant(uint256) = 8
MAX_FEE: constant(uint256) = 5 * 10 ** 9
FEE_DENOMINATOR: constant(uint256) = 10 ** 10
@external
def deploy_metapool(
_base_pool: address,
_name: String[32],
_symbol: String[10],
_coin: address,
_A: uint256,
_fee: uint256,
_offpeg_fee_multiplier: uint256,
_ma_exp_time: uint256,
_implementation_idx: uint256,
_asset_type: uint8,
_method_id: bytes4,
_oracle: address,
) -> address:
"""
@notice Deploy a new metapool
@param _base_pool Address of the base pool to use
within the metapool
@param _name Name of the new metapool
@param _symbol Symbol for the new metapool - will be
concatenated with the base pool symbol
@param _coin Address of the coin being used in the metapool
@param _A Amplification co-efficient - a higher value here means
less tolerance for imbalance within the pool's assets.
Suggested values include:
* Uncollateralized algorithmic stablecoins: 5-10
* Non-redeemable, collateralized assets: 100
* Redeemable assets: 200-400
@param _fee Trade fee, given as an integer with 1e10 precision. The
the maximum is 1% (100000000).
50% of the fee is distributed to veCRV holders.
@param _ma_exp_time Averaging window of oracle. Set as time_in_seconds / ln(2)
Example: for 10 minute EMA, _ma_exp_time is 600 / ln(2) ~= 866
@param _implementation_idx Index of the implementation to use
@param _asset_type Asset type for token, as an integer
@param _method_id First four bytes of the Keccak-256 hash of the function signatures
of the oracle addresses that gives rate oracles.
Calculated as: keccak(text=event_signature.replace(" ", ""))[:4]
@param _oracle Rate oracle address.
@return Address of the deployed pool
"""
assert not self.base_pool_assets[_coin], "Invalid asset: Cannot pair base pool asset with base pool's LP token"
assert _fee <= 100000000, "Invalid fee"
assert _offpeg_fee_multiplier * _fee <= MAX_FEE * FEE_DENOMINATOR
base_pool_n_coins: uint256 = len(self.base_pool_data[_base_pool].coins)
assert base_pool_n_coins != 0, "Base pool is not added"
implementation: address = self.metapool_implementations[_implementation_idx]
assert implementation != empty(address), "Invalid implementation index"
# things break if a token has >18 decimals
decimals: uint256 = ERC20(_coin).decimals()
assert decimals < 19, "Max 18 decimals for coins"
# combine _coins's _asset_type and basepool coins _asset_types:
base_pool_asset_types: DynArray[uint8, MAX_COINS] = self.base_pool_data[_base_pool].asset_types
asset_types: DynArray[uint8, MAX_COINS] = [_asset_type, 0]
for i in range(0, MAX_COINS):
if i == base_pool_n_coins:
break
asset_types.append(base_pool_asset_types[i])
_coins: DynArray[address, MAX_COINS] = [_coin, self.base_pool_data[_base_pool].lp_token]
_rate_multipliers: DynArray[uint256, MAX_COINS] = [10 ** (36 - decimals), 10 ** 18]
_method_ids: DynArray[bytes4, MAX_COINS] = [_method_id, empty(bytes4)]
_oracles: DynArray[address, MAX_COINS] = [_oracle, empty(address)]
pool: address = create_from_blueprint(
implementation,
_name, # _name: String[32]
_symbol, # _symbol: String[10]
_A, # _A: uint256
_fee, # _fee: uint256
_offpeg_fee_multiplier, # _offpeg_fee_multiplier: uint256
_ma_exp_time, # _ma_exp_time: uint256
self.math_implementation, # _math_implementation: address
_base_pool, # _base_pool: address
_coins, # _coins: DynArray[address, MAX_COINS]
self.base_pool_data[_base_pool].coins, # base_coins: DynArray[address, MAX_COINS]
_rate_multipliers, # _rate_multipliers: DynArray[uint256, MAX_COINS]
asset_types, # asset_types: DynArray[uint8, MAX_COINS]
_method_ids, # _method_ids: DynArray[bytes4, MAX_COINS]
_oracles, # _oracles: DynArray[address, MAX_COINS]
code_offset=3
)
# add pool to pool_list
length: uint256 = self.pool_count
self.pool_list[length] = pool
self.pool_count = length + 1
base_lp_token: address = self.base_pool_data[_base_pool].lp_token
self.pool_data[pool].decimals = [decimals, 18, 0, 0, 0, 0, 0, 0]
self.pool_data[pool].n_coins = 2
self.pool_data[pool].base_pool = _base_pool
self.pool_data[pool].coins = [_coin, self.base_pool_data[_base_pool].lp_token]
self.pool_data[pool].implementation = implementation
is_finished: bool = False
swappable_coin: address = empty(address)
for i in range(MAX_COINS):
if i < len(self.base_pool_data[_base_pool].coins):
swappable_coin = self.base_pool_data[_base_pool].coins[i]
else:
is_finished = True
swappable_coin = base_lp_token
key: uint256 = (convert(_coin, uint256) ^ convert(swappable_coin, uint256))
length = self.market_counts[key]
self.markets[key][length] = pool
self.market_counts[key] = length + 1
if is_finished:
break
log MetaPoolDeployed(_coin, _base_pool, _A, _fee, msg.sender)
return pool
>>> Factory.deploy_metapool(
"0xbebc44782c7db0a1a60cb6fe97d0b483032ff1c7", # _base_pool
"crvUSD/3CRV", # _name
"crvusd-3crv" # _symbol
"0xf939E0A03FB07F59A73314E73794Be0E57ac1b4E", # _coin
1500 # _A
1000000, # _fee
20000000000, # _offpeg_fee_multiplier
865, # _ma_exp_time
0, # _implementation_idx
0, # _asset_type
"b""", # _method_id
"0x0000000000000000000000000000000000000000" # _oracle
)
'returns address of the deployed metapool'
Deploying Liquidity Gauges¶
Liquidity gauges for pools can also be deployed from this contract, but deploying gauges through a factory contract is only possible using the same factory contract that was used for deploying the pool. This feature is only available on the Ethereum mainnet, as liquidity gauges on sidechains need to be deployed through the RootChainGaugeFactory.
deploy_gauge
¶
Factory.deploy_gauge(_pool: address) -> address:
Function to deploy a gauge. The Factory utilizes the gauge_implementation
to create the contract from a blueprint.
Returns: deployed gauge (address
).
Emits: LiquidityGaugeDeployed
Input | Type | Description |
---|---|---|
_pool | address | Pool address to deploy the gauge for |
Source code
event LiquidityGaugeDeployed:
pool: address
gauge: address
@external
def deploy_gauge(_pool: address) -> address:
"""
@notice Deploy a liquidity gauge for a factory pool
@param _pool Factory pool address to deploy a gauge for
@return Address of the deployed gauge
"""
assert self.pool_data[_pool].coins[0] != empty(address), "Unknown pool"
assert self.pool_data[_pool].liquidity_gauge == empty(address), "Gauge already deployed"
implementation: address = self.gauge_implementation
assert implementation != empty(address), "Gauge implementation not set"
gauge: address = create_from_blueprint(self.gauge_implementation, _pool, code_offset=3)
self.pool_data[_pool].liquidity_gauge = gauge
log LiquidityGaugeDeployed(_pool, gauge)
return gauge