Address B23R7Z5DR742TK7AV23TDJVY74J4KK23 Arbitrage between Ostable and Oswap v2, transactions and portfolio

B23R7Z5DR742TK7AV23TDJVY74J4KK23

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Arbitrage between Ostable and Oswap v2

Definition

1	[
2	"autonomous agent",
3	{
4	"doc_url": "https://ostable.org/stable-oswap2-oswap2-arb.json",
5	"getters": "{
6	$arblib_aa = '2R5PP7IZRWIBXAKGI6YXIYDQ4EZKAWHE';
7
8	$get_growth_factor = ($curve_aa) => {
9	$interest_rate = var[$curve_aa]['interest_rate'];
10	$term = (timestamp - var[$curve_aa]['rate_update_ts']) / (360 * 24 * 3600); // in years
11	$growth_factor = var[$curve_aa]['growth_factor'] * (1 + $interest_rate)^$term;
12	$growth_factor
13	};
14
15	$get_target_p2_by_params = ($curve_aa, $curve_params, $g) => {
16	$arblib = $arblib_aa\|\|'';
17	$oracle_price = $arblib#3.$get_oracle_price(var[$curve_aa]['oracles'], $curve_params);
18	if (!exists($oracle_price))
19	return false;
20	$target_p2 = $oracle_price^(($curve_params.leverage OTHERWISE 0) - 1) * $g;
21	$target_p2
22	};
23
24	$get_distance = ($p2, $target_p2) => (exists($p2) AND exists($target_p2)) ? abs($p2 - $target_p2) / min($p2, $target_p2) : 0;
25
26	$get_fee_multiplier = ($curve_aa, $curve_params) => var[$curve_aa]['fee_multiplier'] OTHERWISE $curve_params.fee_multiplier OTHERWISE 5;
27
28
29	$get_stable_prices = () => {
30	$stable_aa = params.stable_aa;
31	$stable_params = definition[$stable_aa][1].params;
32
33	$curve_aa = $stable_params.curve_aa;
34	$curve_params = definition[$curve_aa][1].params;
35
36	$n = $curve_params.n;
37	$decimals2 = $curve_params.decimals2;
38	$reserve_asset_decimals = $curve_params.reserve_asset_decimals;
39
40	$mul2 = 10^$decimals2;
41	$mul_r = 10^$reserve_asset_decimals;
42	$mul_price_display_to_pennies = $mul_r/$mul2;
43
44	$p2 = var[$curve_aa]['p2'];
45	$s2 = var[$curve_aa]['supply2'] / $mul2;
46	$fc = var[$curve_aa]['fast_capacity'] / $mul_r;
47
48	$g = $get_growth_factor($curve_aa);
49	$target_p2 = $get_target_p2_by_params($curve_aa, $curve_params, $g);
50
51	$fee_multiplier = $get_fee_multiplier($curve_aa, $curve_params);
52	$fee_share = 2 * $fee_multiplier * ($n-1)/$n * abs($target_p2-$p2)/$p2 * $target_p2/$p2;
53
54	$reward_share = ($n-1)*$fc/abs($target_p2-$p2)/$s2;
55
56	$p_stable = $p2/$g * $mul_price_display_to_pennies;
57	$p_stable_with_reward = $p_stable * (1 - $reward_share);
58	$p_stable_with_fee = $p_stable * (1 - $fee_share);
59
60	{
61	fee_share: $fee_share,
62	reward_share: $reward_share,
63	p_stable: $p_stable,
64	p_stable_with_fee: $p_stable_with_fee,
65	p_stable_with_reward: $p_stable_with_reward,
66	}
67	};
68	}",
69	"init": "{
70	$arblib = $arblib_aa\|\|'';
71
72	$min_reserve_delta = params.min_reserve_delta OTHERWISE 1e5;
73
74	$stable_aa = params.stable_aa;
75	$stable_params = definition[$stable_aa][1].params;
76
77	$curve_aa = $stable_params.curve_aa;
78	$curve_params = definition[$curve_aa][1].params;
79
80	$m = $curve_params.m;
81	$n = $curve_params.n;
82	$decimals1 = $curve_params.decimals1;
83	$decimals2 = $curve_params.decimals2;
84	$reserve_asset_decimals = $curve_params.reserve_asset_decimals;
85	$mul2 = 10^$decimals2;
86	$mul_r = 10^$reserve_asset_decimals;
87
88	// tokens
89	$stable_asset = var[$stable_aa]['asset'];
90	$reserve_asset = $curve_params.reserve_asset OTHERWISE 'base';
91
92	$reserve_oswap_aa = params.reserve_oswap_aa;
93	$stable_oswap_aa = params.stable_oswap_aa;
94
95	$stable_oswap_params = definition[$stable_oswap_aa][1].params;
96	$reserve_oswap_params = definition[$reserve_oswap_aa][1].params;
97
98	$get_stable_oswap_param = ($name, $default) => {
99	$value = var[$stable_oswap_aa][$name];
100	exists($value) ? $value : (exists($stable_oswap_params[$name]) ? $stable_oswap_params[$name] : $default)
101	};
102
103	$get_reserve_oswap_param = ($name, $default) => {
104	$value = var[$reserve_oswap_aa][$name];
105	exists($value) ? $value : (exists($reserve_oswap_params[$name]) ? $reserve_oswap_params[$name] : $default)
106	};
107
108	$stable_oswap_fee = $get_stable_oswap_param('swap_fee', 0.003);
109	$reserve_oswap_fee = $get_reserve_oswap_param('swap_fee', 0.003);
110	$oswap_net = (1-$stable_oswap_fee)*(1-$reserve_oswap_fee);
111
112	$stable_imported_asset = $stable_oswap_params.x_asset == $stable_asset ? $stable_oswap_params.y_asset : $stable_oswap_params.x_asset;
113	$stable_imported_asset2 = $reserve_oswap_params.x_asset == $reserve_asset ? $reserve_oswap_params.y_asset : $reserve_oswap_params.x_asset;
114	require($stable_imported_asset2 == $stable_imported_asset, "stable imported asset mismatch " \|\| $stable_imported_asset \|\| ' != ' \|\| $stable_imported_asset2);
115
116	$arb = var['arb'];
117
118
119	$g = $get_growth_factor($curve_aa);
120
121	$get_target_p2 = () => $get_target_p2_by_params($curve_aa, $curve_params, $g);
122
123	$get_reserve = ($s1, $s2) => {
124	$r = $s1^$m * $s2^$n;
125	$r
126	};
127
128	$get_p2 = ($s1, $s2) => {
129	$p2 = $s1^$m * $n * $s2^($n-1); // derivative
130	$p2
131	};
132
133
134	/* $get_slow_capacity_share = () => {
135	$slow_capacity_share_var = var[$curve_aa]['slow_capacity_share'];
136	if (exists($slow_capacity_share_var))
137	$slow_capacity_share = $slow_capacity_share_var;
138	else if (exists($curve_params.slow_capacity_share))
139	$slow_capacity_share = $curve_params.slow_capacity_share;
140	else
141	$slow_capacity_share = 0.5;
142	$slow_capacity_share
143	};*/
144
145	$fee_multiplier = $get_fee_multiplier($curve_aa, $curve_params);
146
147	$get_fee = ($avg_reserve, $old_distance, $new_distance) => {
148	$fee = ceil($fee_multiplier * $avg_reserve * ($new_distance - $old_distance) * ($new_distance + $old_distance));
149	$fee
150	};
151
152	$get_reserve_needed = ($tokens1, $tokens2, $target_p2) => {
153	// $slow_capacity_share = $get_slow_capacity_share();
154	// $fast_capacity_share = 1 - $slow_capacity_share;
155
156	$initial_p2 = var[$curve_aa]['p2'];
157	$distance = $get_distance($initial_p2, $target_p2);
158
159	$reserve = var[$curve_aa]['reserve'];
160	require($reserve, "no reserve");
161	$new_supply1 = var[$curve_aa]['supply1'] + $tokens1;
162	$new_supply2 = var[$curve_aa]['supply2'] + $tokens2;
163	$s1 = $new_supply1 / 10^$decimals1;
164	$s2 = $new_supply2 / $mul2;
165	$r = $get_reserve($s1, $s2);
166	$p2 = $get_p2($s1, $s2);
167	$new_reserve = ceil($r * $mul_r);
168	$reserve_delta = $new_reserve - $reserve; // can be negative
169	if ($tokens1 >= 0 AND $tokens2 >= 0 AND $reserve_delta < 0)
170	bounce("issuing tokens while the reserve decreases?");
171	if ($tokens1 <= 0 AND $tokens2 <= 0 AND $reserve_delta > 0)
172	bounce("burning tokens while the reserve increases?");
173
174	$new_distance = $get_distance($p2, $target_p2);
175	$avg_reserve = ($reserve + $new_reserve) / 2;
176	$fast_capacity = var[$curve_aa]['fast_capacity'];
177	if ($distance == 0 AND $new_distance == 0){
178	$fee = 0;
179	$reward = 0;
180	$reserve_needed = $reserve_delta;
181	}
182	else if ($new_distance > $distance){ // going away from the target price - pay a fee
183	bounce("would pay a fee");
184	/* $reward = 0;
185	$regular_fee = $get_fee($avg_reserve, $distance, $new_distance);
186	$new_fast_capacity = $fast_capacity + $regular_fee * $fast_capacity_share;
187	$distance_share = 1 - $distance/$new_distance;
188	// reward that would be paid for returning the price back to $initial_p2
189	$reverse_reward = $distance_share * $new_fast_capacity;
190	if ($regular_fee >= $reverse_reward)
191	$fee = $regular_fee;
192	else
193	$fee = ceil($distance_share / (1 - $distance_share * $fast_capacity_share) * $fast_capacity);
194	$reserve_needed = $reserve_delta + $fee; // negative for payouts
195	*/
196	}
197	else { // going towards the target price - get a reward
198	$fee = 0;
199	$regular_reward = floor((1 - $new_distance/$distance) * $fast_capacity);
200	if ($curve_params.capped_reward){
201	// if the reward would be greater than the fee for the reverse transaction, cap the reward by the fee
202	$reverse_fee = $get_fee($avg_reserve, $new_distance, $distance);
203	$reward = min($regular_reward, $reverse_fee);
204	}
205	else
206	$reward = $regular_reward;
207	$reserve_needed = $reserve_delta - $reward; // negative for payouts
208	}
209
210	$reserve_needed
211	};
212
213	$aa2aa_bytes = 2000;
214	$network_fee = ($reserve_asset == 'base') ? 4000 : 0; // for fees and pinging the DE
215	$full_network_fee = $network_fee + ($reserve_asset == 'base' ? $aa2aa_bytes : 0);
216
217	$get_amount_for_buying = ($tokens2, $target_p2) => {
218	if ($tokens2 == 0)
219	bounce("0 T2");
220	$reserve_needed = $get_reserve_needed(0, $tokens2, $target_p2);
221	if ($reserve_needed < $min_reserve_delta)
222	bounce("reserve amount too small " \|\| $reserve_needed);
223	$amount = $reserve_needed + $full_network_fee;
224	$amount
225	};
226
227	$get_fee_share = ($p2, $target_p2) => 2 * $fee_multiplier * ($n-1)/$n * abs($target_p2-$p2)/$p2 * $target_p2/$p2;
228
229
230	$get_shifts = () => {
231	$mid_price = $get_stable_oswap_param('mid_price', 0); // price of x_asset in terms of y_asset
232	if ($mid_price){
233	$alpha = $get_stable_oswap_param('alpha', 0.5);
234	$beta = 1 - $alpha;
235	$gamma = $get_stable_oswap_param('price_deviation', 0);
236	$lp_shares = var[$stable_oswap_aa]['lp_shares'];
237	$s_curve = $lp_shares.linear * $lp_shares.coef;
238	$x0 = $s_curve / $mid_price^$beta / $gamma;
239	$y0 = $x0 * $mid_price;
240	}
241	// else{
242	// $x0 = 0;
243	// $y0 = 0;
244	// }
245	{x0: $x0, y0: $y0}
246	};
247
248
249	}",
250	"messages": {
251	"cases": [
252	{
253	"if": "{ trigger.data.arb OR trigger.data.swap_imported OR trigger.data.swap_stable}",
254	"init": "{
255	$do_arb = trigger.data.arb;
256	$share = trigger.data.share OTHERWISE 1; // for incomplete arb
257	$precalculated = trigger.data.amount AND trigger.data.new_arb;
258	if (!$precalculated) {
259	$max_amount = balance[$reserve_asset] - ($reserve_asset == 'base' ? 10000 : 0);
260	$stable_balances = var[$stable_oswap_aa]['balances'];
261	$stable_l_balances = var[$stable_oswap_aa]['leveraged_balances'];
262	$reserve_balances = var[$reserve_oswap_aa]['balances'];
263	$reserve_l_balances = var[$reserve_oswap_aa]['leveraged_balances'];
264
265	$shifts = $get_shifts();
266	$stable_alpha = $get_stable_oswap_param('alpha', 0.5);
267	$stable_beta = 1 - $stable_alpha;
268	$reserve_alpha = $get_reserve_oswap_param('alpha', 0.5);
269	$reserve_beta = 1 - $reserve_alpha;
270
271	$pxy_stable = $stable_alpha/$stable_beta * ($stable_balances.y + $shifts.y0) / ($stable_balances.x + $shifts.x0);
272	$pxy_reserve = $reserve_alpha/$reserve_beta * $reserve_balances.y / $reserve_balances.x;
273
274	$stable_oswap_x_is_imported = $stable_oswap_params.x_asset == $stable_imported_asset;
275	$reserve_oswap_x_is_reserve = $reserve_oswap_params.x_asset == $reserve_asset;
276
277	$p_stable_in_imported = $stable_oswap_x_is_imported ? 1/$pxy_stable : $pxy_stable;
278	$p_reserve_in_imported = $reserve_oswap_x_is_reserve ? $pxy_reserve : 1/$pxy_reserve;
279	$p_oswap = $p_stable_in_imported / $p_reserve_in_imported; // stable in reserve
280	$p_imported_in_stable = 1/$p_stable_in_imported;
281	$p_imported_in_reserve = 1/$p_reserve_in_imported;
282	$p_oswap_minus_fee = $p_oswap * $oswap_net;
283	$p_oswap_plus_fee = $p_oswap / $oswap_net;
284
285	$Lambda = $get_reserve_oswap_param('pool_leverage', 1);
286	// $x_is_underleveraged = $reserve_balances.xn > ceil($reserve_balances.x/$Lambda);
287	// $along_x = !$x_is_underleveraged;
288
289	$denoms = $arblib#1.$get_denoms(
290	$stable_balances, $reserve_balances,
291	$stable_l_balances, $reserve_l_balances,
292	$shifts,
293	$pxy_stable, $pxy_reserve,
294	$stable_oswap_x_is_imported,
295	$reserve_oswap_x_is_reserve,
296	$stable_alpha, $reserve_alpha
297	);
298
299	$stable_denom = $denoms.stable_denom;
300	$reserve_denom = $denoms.reserve_denom;
301	$reserve_b = $denoms.reserve_b;
302	$stable_a = $denoms.stable_a;
303	require($stable_denom > 0, "negative stable denom "\|\|$stable_denom);
304	require($reserve_denom > 0, "negative reserve denom "\|\|$reserve_denom);
305
306	// bonding curve
307	$mul_price_display_to_pennies = $mul_r/$mul2;
308	$r = var[$curve_aa]['reserve'];
309	$s2 = var[$curve_aa]['supply2'] / $mul2;
310	$p2 = var[$curve_aa]['p2'];
311	$fc = var[$curve_aa]['fast_capacity'] / $mul_r;
312	$target_p2 = $get_target_p2();
313	$reward_share = ($n-1)*$fc/abs($target_p2-$p2)/$s2;
314	// $p2_at_oswap = $p_oswap_plus_fee*$g/$mul_price_display_to_pennies;
315	$fee_share = $get_fee_share($p2, $target_p2);
316	// $fee_share = $get_fee_share(($p2_at_oswap + $p2)/2, $target_p2); // worst case, overestimated
317
318	$p_stable = $p2/$g * $mul_price_display_to_pennies;
319	$p_stable_with_reward = $p_stable * (1 - $reward_share);
320	$p_stable_with_fee = $p_stable * (1 - $fee_share);
321	// log({p2: $p2, p_stable: $p_stable, p_stable_with_reward: $p_stable_with_reward, reward_share: $reward_share, p_stable_with_fee: $p_stable_with_fee, fee_share: $fee_share, p2_at_oswap: $p2_at_oswap});
322
323	if (trigger.data.swap_imported){
324	$imported_balance = balance[$stable_imported_asset];
325	$amount = $imported_balance / $p_reserve_in_imported * $share;
326	$final_p_reserve_in_imported = $p_reserve_in_imported * (1 + $amount / ($reserve_denom + $reserve_b * $Lambda * $amount));
327	}
328	else if (trigger.data.swap_stable){
329	$stable_balance = balance[$stable_asset];
330	$dp = $stable_balance / ($stable_denom + $stable_a * $stable_balance) * $share;
331	$final_p_imported_in_stable = $p_imported_in_stable * (1 + $dp);
332	}
333	// profitable to buy on ostable and sell on oswap
334	else if ($p2 < $target_p2 AND $reward_share < 1 AND $get_distance($p2, $target_p2) > 0.0001 AND $p_stable_with_reward < $p_oswap_minus_fee) {
335	$delta_r = $r * ($p_oswap_minus_fee - $p_stable_with_reward)/$p_oswap_minus_fee / ($n-1 + $r/$p_stable_with_reward/$stable_denom + $r/$reserve_denom);
336	require($delta_r > 0, "negative delta_r when buying " \|\| $delta_r);
337	$delta_r_sent = min($delta_r, $max_amount * 0.7);
338	$delta_s = $delta_r_sent/$p_oswap_minus_fee;
339	$delta_s2 = $delta_s/$g;
340	$tokens2 = floor($delta_s2);
341	$amount = $get_amount_for_buying($tokens2, $target_p2);
342	$from = 'curve';
343	$stable_tokens = floor($tokens2*$g);
344	$dp = $stable_tokens / ($stable_denom + $stable_a * $stable_tokens) * $share;
345	$final_p_imported_in_stable = $p_imported_in_stable * (1 + $dp);
346	$final_p_reserve_in_imported = $p_reserve_in_imported * (1 + $amount / ($reserve_denom + $reserve_b * $Lambda * $amount) * $share * $share);
347	$new_arb = {
348	final_p_imported_in_reserve: 1/$final_p_reserve_in_imported,
349	final_p_stable_in_reserve: 1/$final_p_imported_in_stable/$final_p_reserve_in_imported,
350	};
351	/* log({
352	p2: $p2,
353	target_p2: $target_p2,
354	reward_share: $reward_share,
355	p_stable: $p_stable,
356	p_stable_with_reward: $p_stable_with_reward,
357	p_stable_in_imported: $p_stable_in_imported,
358	p_reserve_in_imported: $p_reserve_in_imported,
359	p_oswap: $p_oswap,
360	r: $r,
361	delta_r: $delta_r,
362	tokens2: $tokens2,
363	amount: $amount,
364	final_p_imported_in_stable: $final_p_imported_in_stable,
365	final_p_reserve_in_imported: $final_p_reserve_in_imported,
366	final_p_stable_in_reserve: 1/($final_p_reserve_in_imported * $final_p_imported_in_stable),
367	});*/
368	$oswap_data = {
369	final_price: $final_p_imported_in_stable,
370	hops: [
371	{ // next oswap in the chain
372	address: $reserve_oswap_aa,
373	change_address: this_address,
374	data: {final_price: $final_p_reserve_in_imported},
375	},
376	{address: this_address},
377	]
378	};
379	}
380	// profitable to buy on oswap and sell on ostable
381	else if ($p_stable_with_fee > $p_oswap_plus_fee) {
382
383	$get_arb_params = ($upper_p, $divisor) => {
384	$dr = $r * ($upper_p - $p_oswap_plus_fee)/$upper_p / ($n-1 + $r/$p_oswap_plus_fee/$stable_denom + $r/$reserve_denom) / $divisor;
385	require($dr > 0, "negative delta_r when selling " \|\| $dr);
386	$dr_sent = min($dr, $max_amount);
387	$ds = $dr_sent/$upper_p;
388
389	$amount_r = floor($dr_sent);
390
391	$final_p_imported_in_reserve = $p_imported_in_reserve * (1 + $amount_r / ($reserve_denom + $reserve_b * $Lambda * $amount_r) * $share);
392	$final_p_stable_in_imported = $p_stable_in_imported * (1 + $ds / ($stable_denom + $stable_a * $ds) * $share * $share);
393	$final_p_stable_in_reserve = $final_p_stable_in_imported*$final_p_imported_in_reserve;
394	{
395	delta_r: $dr,
396	delta_s: $ds,
397	ds2: $ds/$g/$mul2,
398	amount: $amount_r,
399	final_p_imported_in_reserve: $final_p_imported_in_reserve,
400	final_p_stable_in_imported: $final_p_stable_in_imported,
401	final_p_stable_in_reserve: $final_p_stable_in_reserve,
402	}
403	};
404
405	$params1 = $get_arb_params($p_stable_with_fee, 1);
406
407	// $p2_final = $params1.final_p_stable_in_reserve/$g / $mul_price_display_to_pennies;
408	$dp2 = ($n-1)$p2$params1.ds2/$s2;
409	$p2_avg = $p2-$dp2/2; // better approximation of p2 for the fee
410	$fee_share2 = $get_fee_share($p2_avg, $target_p2);
411	$p_stable_with_fee2 = $p_stable * (1 - $fee_share2);
412	// log({dp2: $dp2, p2_avg: $p2_avg, fee_share2: $fee_share2, p_stable_with_fee2: $p_stable_with_fee2, reserve_balances: $reserve_balances, params1: $params1});
413
414	if ($p_stable_with_fee2 > $p_oswap_plus_fee){
415	$params2 = $get_arb_params($p_stable_with_fee2, 1);
416	$p_stable_adjustment = ($p_stable_with_fee - $p_stable_with_fee2)/$p_stable_with_fee*100;
417	// log({p_stable_adjustment: $p_stable_adjustment});
418	response['p_stable_adjustment'] = $p_stable_adjustment \|\| '%';
419	}
420	else{
421	$params2 = $get_arb_params($p_stable_with_fee, 2);
422	// log({half: $params2.delta_r});
423	response['half'] = $params2.delta_r;
424	}
425
426	// $delta_r = $params2.delta_r;
427	$delta_s = $params2.delta_s;
428	$amount = min(ceil($params1.amount * $p_stable_with_fee/$p_oswap_plus_fee * 1.3), $max_amount); // larger, based on lower fee in params1
429	$final_p_imported_in_reserve = $params2.final_p_imported_in_reserve;
430	$final_p_stable_in_imported = $params2.final_p_stable_in_imported;
431	$final_p_stable_in_reserve = $params2.final_p_stable_in_reserve;
432
433	$new_arb = {
434	final_p_imported_in_reserve: $final_p_imported_in_reserve,
435	final_p_stable_in_reserve: $final_p_stable_in_reserve,
436	};
437
438	$from = 'oswap';
439
440	/* log({
441	// p2: $p2,
442	// target_p2: $target_p2,
443	// fee_share: $fee_share,
444	// p_stable: $p_stable,
445	// p_stable_with_fee: $p_stable_with_fee,
446	p_stable_in_imported: $p_stable_in_imported,
447	p_reserve_in_imported: $p_reserve_in_imported,
448	p_oswap: $p_oswap,
449	r: $r,
450	// delta_r: $delta_r,
451	amount: $amount,
452	delta_s: $delta_s,
453	final_p_imported_in_reserve: $final_p_imported_in_reserve,
454	final_p_stable_in_imported: $final_p_stable_in_imported,
455	final_p_stable_in_reserve: $new_arb.final_p_stable_in_reserve,
456	});*/
457	require($amount >= $min_reserve_delta, "amount too small " \|\| $amount);
458	}
459	else
460	bounce("no arb opportunity exists");
461	}
462	else { // overriden in the request, don't calc
463	$amount = trigger.data.amount;
464	$tokens2 = trigger.data.tokens2;
465	$final_p_imported_in_reserve = trigger.data.final_p_imported_in_reserve;
466	$final_p_stable_in_imported = trigger.data.final_p_stable_in_imported;
467	$final_p_stable_in_reserve = $final_p_stable_in_imported*$final_p_imported_in_reserve;
468	$new_arb = {
469	final_p_imported_in_reserve: $final_p_imported_in_reserve,
470	final_p_stable_in_reserve: $final_p_stable_in_reserve,
471	};
472	$oswap_data = trigger.data.oswap_data;
473	$from = $tokens2 ? 'curve' : 'oswap';
474	}
475	}",
476	"messages": [
477	{
478	"if": "{$do_arb}",
479	"app": "payment",
480	"payload": {
481	"asset": "{$reserve_asset}",
482	"outputs": [
483	{
484	"address": "{$from == 'curve' ? $curve_aa : $reserve_oswap_aa}",
485	"amount": "{ $amount }"
486	}
487	]
488	}
489	},
490	{
491	"if": "{$do_arb AND $from == 'curve'}",
492	"app": "data",
493	"payload": {
494	"tokens2": "{$tokens2}",
495	"tokens2_to": "{$stable_aa}"
496	}
497	},
498	{
499	"if": "{$do_arb AND $from == 'oswap'}",
500	"app": "data",
501	"payload": {
502	"final_price": "{$final_p_imported_in_reserve}",
503	"hops": [
504	{
505	"address": "{$stable_oswap_aa}",
506	"change_address": "{this_address}",
507	"data": {
508	"final_price": "{$final_p_stable_in_imported}"
509	}
510	},
511	{
512	"address": "{this_address}"
513	}
514	]
515	}
516	},
517	{
518	"if": "{trigger.data.swap_imported}",
519	"app": "payment",
520	"payload": {
521	"asset": "{$stable_imported_asset}",
522	"outputs": [
523	{
524	"address": "{$reserve_oswap_aa}"
525	}
526	]
527	}
528	},
529	{
530	"if": "{trigger.data.swap_imported}",
531	"app": "data",
532	"payload": {
533	"final_price": "{$final_p_reserve_in_imported}"
534	}
535	},
536	{
537	"if": "{trigger.data.swap_stable}",
538	"app": "payment",
539	"payload": {
540	"asset": "{$stable_asset}",
541	"outputs": [
542	{
543	"address": "{$stable_oswap_aa}"
544	}
545	]
546	}
547	},
548	{
549	"if": "{trigger.data.swap_stable}",
550	"app": "data",
551	"payload": {
552	"final_price": "{$final_p_imported_in_stable}"
553	}
554	},
555	{
556	"app": "state",
557	"state": "{
558	if ($do_arb){
559	var['sent_amount'] = $amount;
560	var['arb'] = $new_arb;
561	var['from'] = $from;
562	if ($from == 'curve'){
563	require($oswap_data, 'no oswap_data');
564	var['oswap_data'] = $oswap_data;
565	}
566	response['sent_amount'] = $amount;
567	response['reward_share'] = $reward_share;
568	response['fee_share'] = $fee_share;
569	response['message'] = $from == 'curve' ? 'will arb by buying from the curve' : 'will arb by selling to the curve';
570	}
571	else if (trigger.data.swap_imported)
572	response['message'] = 'will swap imported to reserve';
573	else if (trigger.data.swap_stable)
574	response['message'] = 'will swap stable to imported';
575	}"
576	}
577	]
578	},
579	{
580	"if": "{ trigger.output[[asset=$reserve_asset]] > 0 AND trigger.address == $reserve_oswap_aa AND !var['from'] }",
581	"messages": [
582	{
583	"app": "state",
584	"state": "{
585	// log('received swap output from reserve oswap', trigger.output[[asset=$reserve_asset]]);
586	response['reserve_output'] = trigger.output[[asset=$reserve_asset]];
587	}"
588	}
589	]
590	},
591	{
592	"if": "{ trigger.output[[asset=$stable_imported_asset]] > 0 AND trigger.address == $stable_oswap_aa AND !var['from'] }",
593	"messages": [
594	{
595	"app": "state",
596	"state": "{
597	// log('received swap output from reserve oswap', trigger.output[[asset=$reserve_asset]]);
598	response['imported_output'] = trigger.output[[asset=$stable_imported_asset]];
599	}"
600	}
601	]
602	},
603	{
604	"if": "{ trigger.output[[asset=$stable_asset]] > 0 AND trigger.address == $stable_aa }",
605	"init": "{
606	require(var['sent_amount'], 'no sent amount when received from stable AA');
607	// log('received stable from stable AA', trigger.output[[asset=$stable_asset]]);
608	response['forwarded_stable_from_curve'] = trigger.output[[asset=$stable_asset]];
609	}",
610	"messages": [
611	{
612	"app": "payment",
613	"payload": {
614	"asset": "{$stable_asset}",
615	"outputs": [
616	{
617	"address": "{$stable_oswap_aa}",
618	"amount": "{ trigger.output[[asset=$stable_asset]] }"
619	}
620	]
621	}
622	},
623	{
624	"app": "data",
625	"payload": "{var['oswap_data']}"
626	}
627	]
628	},
629	{
630	"if": "{ trigger.output[[asset=$stable_asset]] > 0 AND trigger.address == $stable_oswap_aa AND var['from'] == 'oswap' }",
631	"init": "{
632	require(var['sent_amount'], 'no sent amount when received from oswap');
633	// log('received stable from stable oswap', trigger.output[[asset=$stable_asset]]);
634	}",
635	"messages": [
636	{
637	"app": "payment",
638	"payload": {
639	"asset": "{$stable_asset}",
640	"outputs": [
641	{
642	"address": "{$stable_aa}",
643	"amount": "{ trigger.output[[asset=$stable_asset]] }"
644	}
645	]
646	}
647	},
648	{
649	"app": "data",
650	"payload": {
651	"to": "{$curve_aa}"
652	}
653	},
654	{
655	"app": "state",
656	"state": "{
657	$arb.imported = $arb.imported + trigger.output[[asset=$stable_imported_asset]];
658	var['arb'] = $arb;
659	response['forwarded_stable_from_oswap'] = trigger.output[[asset=$stable_asset]];
660	}"
661	}
662	]
663	},
664	{
665	"if": "{ trigger.output[[asset=$stable_asset]] > 0 AND trigger.address == $stable_oswap_aa AND var['from'] == 'curve' }",
666	"messages": [
667	{
668	"app": "state",
669	"state": "{
670	$arb.stable = $arb.stable + trigger.output[[asset=$stable_asset]];
671	var['arb'] = $arb;
672	// log('received change from stable oswap', trigger.output[[asset=$stable_asset]]);
673	response['stable_change'] = trigger.output[[asset=$stable_asset]];
674	}"
675	}
676	]
677	},
678	{
679	"if": "{ trigger.output[[asset=$reserve_asset]] > 0 AND trigger.address == $reserve_oswap_aa AND var['from'] == 'oswap' }",
680	"messages": [
681	{
682	"app": "state",
683	"state": "{
684	$arb.reserve = $arb.reserve + trigger.output[[asset=$reserve_asset]];
685	var['arb'] = $arb;
686	// log('received change from reserve oswap', trigger.output[[asset=$reserve_asset]]);
687	response['reserve_change'] = trigger.output[[asset=$reserve_asset]];
688	}"
689	}
690	]
691	},
692	{
693	"if": "{ trigger.output[[asset=$reserve_asset]] > 0 AND (trigger.address == $reserve_oswap_aa OR trigger.address == $curve_aa) }",
694	"messages": [
695	{
696	"app": "state",
697	"state": "{
698	$sent_amount = var['sent_amount'];
699	require($sent_amount, 'no sent amount');
700	$arb.imported = $arb.imported + trigger.output[[asset=$stable_imported_asset]];
701	$arb.reserve = $arb.reserve + trigger.output[[asset=$reserve_asset]];
702	$received_amount = $arb.reserve + $arb.imported * $arb.final_p_imported_in_reserve + $arb.stable * $arb.final_p_stable_in_reserve;
703	$profit = $received_amount - $sent_amount;
704	// log('received proceeds', $arb, {amount: trigger.output[[asset=$reserve_asset]], profit: $profit});
705	response['profit'] = $profit;
706	// response['profit%'] = 100 * $profit/$sent_amount;
707	$direction = trigger.address == $reserve_oswap_aa ? 'buying' : 'selling';
708	require($profit > 0, 'unprofitable ' \|\| $direction \|\| ': ' \|\| $received_amount \|\| ' < ' \|\| $sent_amount \|\| ", fee% " \|\| trigger.data.tx.res.fee_percent \|\| ", tokens2 " \|\| trigger.data.tx.tokens2);
709	var['sent_amount'] = false;
710	var['from'] = false;
711	var['oswap_data'] = false;
712	var['arb'] = false;
713	}"
714	}
715	]
716	},
717	{
718	"if": "{ trigger.data.withdraw AND trigger.address == params.owner }",
719	"messages": [
720	{
721	"app": "payment",
722	"payload": {
723	"asset": "{trigger.data.asset OTHERWISE $reserve_asset}",
724	"outputs": [
725	{
726	"address": "{params.owner}",
727	"amount": "{ trigger.data.amount OTHERWISE '' }"
728	}
729	]
730	}
731	}
732	]
733	},
734	{
735	"if": "{ trigger.output[[asset=$reserve_asset]] > 0 }",
736	"messages": [
737	{
738	"app": "state",
739	"state": "{
740	response['message'] = 'added ' \|\| trigger.output[[asset=$reserve_asset]];
741	}"
742	}
743	]
744	}
745	]
746	}
747	}
748	]

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