[ "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": "{ $triggerer_reward }" } ] } }, { "if": "{$reserve_asset != 'base'}", "app": "payment", "payload": { "asset": "base", "outputs": [ { "address": "{$curve_aa}", "amount": 2000 } ] } }, { "if": "{$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; }" } ] } ] } } ]