[
"autonomous agent",
{
"doc_url": "https://ostable.org/stablecoin-t1-arbitrage.json",
"getters": "{
$get_curve_aa = () => params.curve_aa;
}",
"init": "{
$curve_aa = $get_curve_aa();
$curve_params = definition[params.curve_aa][1].params;
// tokens
$reserve_asset = $curve_params.reserve_asset OTHERWISE 'base';
$asset1 = var[$curve_aa]['asset1'];
$shares_asset = var['shares_asset'];
$get_leverage = () => $curve_params.leverage OTHERWISE 0;
$dilution_factor = var[$curve_aa]['dilution_factor'];
$get_reserve = ($s1, $s2) => {
$r = $dilution_factor * $s1^$curve_params.m * $s2^$curve_params.n;
$r
};
$get_p2 = ($s1, $s2) => {
$p2 = $dilution_factor * $s1^$curve_params.m * $curve_params.n * (is_integer($curve_params.n*2) ? sqrt($s2^(($curve_params.n-1)*2)) : $s2^($curve_params.n-1) ); // derivative
$p2
};
$get_p1 = () => {
$s1 = var[$curve_aa]['supply1']/10^$curve_params.decimals1;
$s2 = var[$curve_aa]['supply2']/10^$curve_params.decimals2;
$p1_in_full_units = $dilution_factor * $curve_params.m * $s1^($curve_params.m-1) * $s2^$curve_params.n; // derivative
$p1_in_smallest_units = $p1_in_full_units * 10^($curve_params.reserve_asset_decimals - $curve_params.decimals1);
$p1_in_smallest_units
};
$get_oracles = () => {
$oracles = var[$curve_aa]['oracles'];
if ($oracles)
return $oracles;
$initial_oracles = [];
if ($curve_params.oracle1 AND $curve_params.feed_name1)
$initial_oracles[] = {oracle: $curve_params.oracle1, feed_name: $curve_params.feed_name1, op: $curve_params.op1 OTHERWISE '*'};
if ($curve_params.oracle2 AND $curve_params.feed_name2)
$initial_oracles[] = {oracle: $curve_params.oracle2, feed_name: $curve_params.feed_name2, op: $curve_params.op2 OTHERWISE '*'};
if ($curve_params.oracle3 AND $curve_params.feed_name3)
$initial_oracles[] = {oracle: $curve_params.oracle3, feed_name: $curve_params.feed_name3, op: $curve_params.op3 OTHERWISE '*'};
$initial_oracles
};
$get_initial_interest_rate = () => exists($curve_params.interest_rate) ? $curve_params.interest_rate : 0.1; // 10%
$get_interest_rate = () => {
$interest_rate_var = var[$curve_aa]['interest_rate'];
exists($interest_rate_var) ? $interest_rate_var : $get_initial_interest_rate()
};
$get_growth_factor = () => {
$interest_rate = $get_interest_rate();
$term = (timestamp - var[$curve_aa]['rate_update_ts']) / (360 * 24 * 3600); // in years
$growth_factor = var[$curve_aa]['growth_factor'] * (1 + $interest_rate)^$term;
$growth_factor
};
$get_oracle_price = () => {
$oracles = $get_oracles();
$oracle_price = reduce($oracles, 3, ($price, $oracle_info) => {
$df = data_feed[[oracles=$oracle_info.oracle, feed_name=$oracle_info.feed_name]];
($oracle_info.op == '*') ? $price * $df : $price / $df
}, 1);
$oracle_price
};
$get_target_p2 = () => {
$target_p2 = $get_oracle_price()^($get_leverage() - 1) * $get_growth_factor();
$target_p2
};
$get_exchange_data = () => {
$target_p2 = $get_target_p2();
$s2 = var[$curve_aa]['supply2']/10^$curve_params.decimals2;
$target_s1 = ($target_p2/$curve_params.n * $s2^(1-$curve_params.n))^(1/$curve_params.m);
$tokens1_delta = round($target_s1 * 10^$curve_params.decimals1) - var[$curve_aa]['supply1'];
$new_s1 = (var[$curve_aa]['supply1'] + $tokens1_delta) / 10^$curve_params.decimals1;
$reserve_delta = ceil($get_reserve($new_s1, $s2) * 10^$curve_params.reserve_asset_decimals) - var[$curve_aa]['reserve'];
// calc the reward
$initial_p2 = var[$curve_aa]['p2'];
$distance = abs($initial_p2 - $target_p2) / $target_p2;
$p2 = $get_p2($new_s1, $s2); // might be slightly different from target_p2 due to limited precision of s1
$new_distance = abs($p2 - $target_p2) / $target_p2; // zero or very close
$reward = floor((1 - $new_distance/$distance) * var[$curve_aa]['fast_capacity']);
$reserve_needed = $reserve_delta - $reward + ($reserve_asset == 'base' ? 1000 : 0);
{
tokens1_delta: $tokens1_delta,
reserve_delta: $reserve_delta,
reserve_needed: $reserve_needed,
reward: $reward,
}
};
$p1 = $get_p1();
$get_total_assets = () => {
balance[$reserve_asset] - trigger.output[[asset=$reserve_asset]] + $p1 * (balance[$asset1] - trigger.output[[asset=$asset1]])
};
$get_reserve_share_after = ($delta_reserve, $delta_asset1) => {
(balance[$reserve_asset] - $delta_reserve) / (balance[$reserve_asset] - $delta_reserve + $p1 * (balance[$asset1] - $delta_asset1))
};
$status = var['status'];
$max_reserve_share = var['max_reserve_share'] OTHERWISE params.max_reserve_share OTHERWISE 1;
$min_reserve_share = exists(var['min_reserve_share']) ? var['min_reserve_share'] : (params.min_reserve_share OTHERWISE 0);
$triggerer_reward_share = exists(var['triggerer_reward_share']) ? var['triggerer_reward_share'] : (params.triggerer_reward_share OTHERWISE 0);
$min_reserve_delta = var['min_reserve_delta'] OTHERWISE params.min_reserve_delta OTHERWISE 1e5;
$min_reserve_investment = $reserve_asset == 'base' ? 1e4 : 0;
if (trigger.data.to AND !is_valid_address(trigger.data.to))
bounce("bad to address");
$to = trigger.data.to OTHERWISE trigger.address;
$governance_base_aa = 'P5CS22H3DNZ35RTY7TFAGRUDQRHRIK7T';
}",
"messages": {
"cases": [
{
"if": "{ trigger.data.define AND !$shares_asset }",
"messages": [
{
"app": "asset",
"payload": {
"is_private": false,
"is_transferrable": true,
"auto_destroy": false,
"fixed_denominations": false,
"issued_by_definer_only": true,
"cosigned_by_definer": false,
"spender_attested": false
}
},
{
"if": "{trigger.data.factory}",
"app": "payment",
"payload": {
"asset": "base",
"outputs": [
{
"address": "{trigger.data.factory}",
"amount": 1000
}
]
}
},
{
"app": "definition",
"payload": {
"definition": [
"autonomous agent",
{
"base_aa": "{$governance_base_aa}",
"params": {
"arb_aa": "{this_address}",
"challenging_period": "{params.challenging_period}",
"freeze_period": "{params.freeze_period}"
}
}
]
}
},
{
"app": "state",
"state": "{
var['governance_aa'] = unit[response_unit].messages[[.app='definition']].payload.address;
var['shares_asset'] = response_unit;
response['shares_asset'] = response_unit;
}"
}
]
},
{
"if": "{ $shares_asset AND trigger.address == var['governance_aa'] AND trigger.data.name }",
"init": "{
$name = trigger.data.name;
}",
"messages": [
{
"app": "state",
"state": "{
var[$name] = trigger.data.value;
}"
}
]
},
{
"if": "{ trigger.data.arb }",
"init": "{
$data = $get_exchange_data();
$tokens1 = $data.tokens1_delta;
if (abs($tokens1) <= 1)
bounce("already on-peg");
if (abs($data.reserve_delta) < $min_reserve_delta)
bounce("reserve delta would be too small: " || $data.reserve_delta);
$triggerer_reward = floor($triggerer_reward_share * $data.reward);
}",
"messages": [
{
"app": "payment",
"payload": {
"asset": "{$reserve_asset}",
"outputs": [
{
"if": "{$tokens1 > 0}",
"address": "{$curve_aa}",
"amount": "{ $data.reserve_needed }"
},
{
"if": "{$triggerer_reward > 100}",
"address": "{trigger.address}",
"amount": "{ $triggerer_reward }"
}
]
}
},
{
"if": "{$tokens1 > 0}",
"app": "data",
"payload": {
"tokens1": "{$tokens1}"
}
},
{
"if": "{$tokens1 < 0}",
"app": "payment",
"payload": {
"asset": "{$asset1}",
"outputs": [
{
"address": "{$curve_aa}",
"amount": "{ -$tokens1 }"
}
]
}
},
{
"app": "state",
"state": "{
var['status'] = 'arbing';
var['expected_asset1_amount'] = $tokens1 > 0 ? $tokens1 : 0;
var['expected_reserve_amount'] = $tokens1 < 0 ? -$data.reserve_needed : 0;
}"
}
]
},
{
"if": "{ trigger.address == $curve_aa AND (trigger.output[[asset=$asset1]] > 0 OR trigger.output[[asset=$reserve_asset]] > 0) AND $status AND $status == 'arbing' }",
"init": "{
$received_asset1_amount = trigger.output[[asset=$asset1]];
$expected_asset1_amount = var['expected_asset1_amount'];
if ($expected_asset1_amount != $expected_asset1_amount)
bounce("wrong asset1 amount received from curve AA: expected " || $expected_asset1_amount || ", got " || $received_asset1_amount);
$received_reserve_amount = trigger.output[[asset=$reserve_asset]];
$expected_reserve_amount = var['expected_reserve_amount'];
if ($expected_reserve_amount != $expected_reserve_amount)
bounce("wrong reserve amount received from curve AA: expected " || $expected_reserve_amount || ", got " || $received_reserve_amount);
}",
"messages": [
{
"app": "state",
"state": "{
var['expected_asset1_amount'] = false;
var['expected_reserve_amount'] = false;
var['status'] = false;
}"
}
]
},
{
"if": "{ $shares_asset AND (trigger.output[[asset=$reserve_asset]] > 0 OR trigger.output[[asset=$asset1]] > 0) AND trigger.output[[asset=$shares_asset]] == 0 }",
"init": "{
if (var['investments_paused'])
bounce("investments paused by governance decision");
$received_reserve_amount = trigger.output[[asset=$reserve_asset]] > $min_reserve_investment ? trigger.output[[asset=$reserve_asset]] : 0;
$received_asset1_amount = trigger.output[[asset=$asset1]];
$shares_supply = var['shares_supply'] OTHERWISE 0;
$balance = $get_total_assets(); // before the purchase
$received_asset1_value = $p1 * $received_asset1_amount;
$received_assets = $received_reserve_amount + $received_asset1_value;
if ($received_assets == 0)
bounce("0 contribution");
if ($shares_supply > 0){
if ($balance == 0)
bounce("shares_supply > 0 AND balance == 0");
$reserve_share = $get_reserve_share_after(0, 0);
$received_reserve_share = $received_reserve_amount/$received_assets;
$type = ($received_reserve_share > $reserve_share) ? 'reserve_share_up' : 'reserve_share_down';
if ($reserve_share > $max_reserve_share AND $type != 'reserve_share_down')
bounce("the reserve share is too large and only proportional or T1 contributions (or anything in between) are allowed");
if ($reserve_share < $min_reserve_share AND $type != 'reserve_share_up')
bounce("the T1 share is too large and only proportional or reserve contributions (or anything in between) are allowed");
}
$share_price = $shares_supply ? $balance / $shares_supply : 1;
$shares_amount = floor($received_assets / $share_price);
}",
"messages": [
{
"app": "payment",
"payload": {
"asset": "{$shares_asset}",
"outputs": [
{
"address": "{$to}",
"amount": "{$shares_amount}"
}
]
}
},
{
"app": "state",
"state": "{
var['shares_supply'] += $shares_amount;
}"
}
]
},
{
"if": "{ $shares_asset AND trigger.output[[asset=$shares_asset]] > 0 }",
"init": "{
$what = trigger.data.what OTHERWISE 'both';
if ($what != 't1' AND $what != 'reserve' AND $what != 'both')
bounce('bad type of asset to withdraw: ' || $what);
$received_shares_amount = trigger.output[[asset=$shares_asset]];
$shares_supply = var['shares_supply'];
$balance = $get_total_assets();
if ($balance < 0)
bounce("balance < 0");
if ($shares_supply > 0 AND $balance == 0)
bounce("shares_supply > 0 AND balance == 0");
if ($what == 'both'){
$reserve_amount = floor($received_shares_amount/$shares_supply * (balance[$reserve_asset] - $min_reserve_investment));
$asset1_amount = floor($received_shares_amount/$shares_supply * balance[$asset1]);
}
else{ // single-token redemptions
$share_price = $balance / $shares_supply;
if ($what == 'reserve'){
$reserve_amount = floor($received_shares_amount * $share_price);
$asset1_amount = 0;
}
else{
$reserve_amount = 0;
$asset1_amount = floor($received_shares_amount * $share_price / $p1);
}
$reserve_share = $get_reserve_share_after($reserve_amount, $asset1_amount);
if ($reserve_share < $min_reserve_share AND $what == 'reserve')
bounce("the reserve share is too small and only proportional or T1 withdrawals are allowed");
if ($reserve_share > $max_reserve_share AND $what == 't1')
bounce("the T1 share is too small and only proportional or reserve withdrawals are allowed");
}
}",
"messages": [
{
"app": "payment",
"payload": {
"asset": "{$reserve_asset}",
"outputs": [
{
"address": "{$to}",
"amount": "{$reserve_amount}"
}
]
}
},
{
"app": "payment",
"payload": {
"asset": "{$asset1}",
"outputs": [
{
"address": "{$to}",
"amount": "{$asset1_amount}"
}
]
}
},
{
"app": "state",
"state": "{
var['shares_supply'] -= $received_shares_amount;
}"
}
]
}
]
}
}
]