Unit ID
nEs7wgrdFsjEblrmXf3CINLNaXU9NnIf7KqCY5Xe/ak=
Received
22.09.2020 09:59:50
Confirmation delay (full node)
4 minutes 8 seconds
Confirmation delay (light node)
5 minutes 22 seconds
Messages
Definition
Definition: [ "autonomous agent", { "doc_url": "https://ostable.org/bonded-stablecoin.json", "getters": "{ $get_reserve = ($s1, $s2) => { $dilution_factor = var['dilution_factor']; $r = $dilution_factor * $s1^params.m * $s2^params.n; $r }; $get_p2 = ($s1, $s2) => { // $p2 = ($get_reserve($s1, $s2 + 0.001*$s2) - $get_reserve($s1, $s2))/(0.001*$s2); // derivative $dilution_factor = var['dilution_factor']; $p2 = $dilution_factor * $s1^params.m * params.n * (is_integer(params.n*2) ? sqrt($s2^((params.n-1)*2)) : $s2^(params.n-1) ); // derivative $p2 }; $get_oracles = () => { $oracles = var['oracles']; if ($oracles) return $oracles; $initial_oracles = []; if (params.oracle1 AND params.feed_name1) $initial_oracles[] = {oracle: params.oracle1, feed_name: params.feed_name1, op: params.op1 OTHERWISE '*'}; if (params.oracle2 AND params.feed_name2) $initial_oracles[] = {oracle: params.oracle2, feed_name: params.feed_name2, op: params.op2 OTHERWISE '*'}; if (params.oracle3 AND params.feed_name3) $initial_oracles[] = {oracle: params.oracle3, feed_name: params.feed_name3, op: params.op3 OTHERWISE '*'}; $initial_oracles }; // leverage // 0: track the oracle price, e.g. USD // 1: track the reserve price, e.g. GBYTE // 2: take 2x long position in the reserve asset relative to the oracle price // -1: take short position in the reserve asset relative to the oracle price // -2: take 2x short position in the reserve asset relative to the oracle price // fractional leverage is also ok $get_leverage = () => params.leverage OTHERWISE 0; $get_fee_multiplier = () => var['fee_multiplier'] OTHERWISE params.fee_multiplier OTHERWISE 5; $get_initial_interest_rate = () => exists(params.interest_rate) ? params.interest_rate : 0.1; // 10% $get_interest_rate = () => { $interest_rate_var = var['interest_rate']; exists($interest_rate_var) ? $interest_rate_var : $get_initial_interest_rate() }; $get_slow_capacity_share = () => { $slow_capacity_share_var = var['slow_capacity_share']; if (exists($slow_capacity_share_var)) $slow_capacity_share = $slow_capacity_share_var; else if (exists(params.slow_capacity_share)) $slow_capacity_share = params.slow_capacity_share; else $slow_capacity_share = 0.5; $slow_capacity_share }; $get_growth_factor = () => { $interest_rate = $get_interest_rate(); $term = (timestamp - var['rate_update_ts']) / (360 * 24 * 3600); // in years $growth_factor = var['growth_factor'] * (1 + $interest_rate)^$term; $growth_factor }; $get_fee = ($avg_reserve, $old_distance, $new_distance) => { $fee_multiplier = $get_fee_multiplier(); // capacity = fee_multiplier * reserve * distance^2 $fee = ceil($fee_multiplier * $avg_reserve * ($new_distance - $old_distance) * ($new_distance + $old_distance)); // $fee = ceil($fee_multiplier * $avg_reserve * ($new_distance - $old_distance)); // $fee = ceil($abs_reserve_delta * ($new_distance + $old_distance) / 2 * $fee_multiplier); $fee }; $get_oracle_price = () => { $oracles = $get_oracles(); $oracle_price = reduce($oracles, 3, ($price, $oracle_info) => { if (!exists($price)) return false; $df = data_feed[[oracles=$oracle_info.oracle, feed_name=$oracle_info.feed_name, ifnone=false]]; if (!exists($df)) return false; ($oracle_info.op == '*') ? $price * $df : $price / $df }, 1); $oracle_price }; $get_target_p2 = () => { $oracle_price = $get_oracle_price(); if (!exists($oracle_price)) return false; $target_p2 = $oracle_price^($get_leverage() - 1) * $get_growth_factor(); $target_p2 }; $get_turnover = ($reserve_payout, $tokens1, $tokens2, $p2) => { // positive numbers are outputs, negative amounts are inputs $reserve_turnover = abs($reserve_payout); if ($tokens1 >= 0 AND $tokens2 >= 0 OR $tokens1 <= 0 AND $tokens2 <= 0) return $reserve_turnover; $token2_turnover = abs($tokens2) * $p2 * 10^(params.reserve_asset_decimals - params.decimals2); if ($tokens2 >= 0 AND $reserve_payout >= 0 OR $tokens2 <= 0 AND $reserve_payout <= 0) return $token2_turnover + $reserve_turnover; $token2_turnover }; $get_exchange_result = ($tokens1, $tokens2) => { $slow_capacity_share = $get_slow_capacity_share(); $fast_capacity_share = 1 - $slow_capacity_share; $initial_p2 = var['p2']; $target_p2 = $get_target_p2(); $distance = (exists($initial_p2) AND exists($target_p2)) ? abs($initial_p2 - $target_p2) / $target_p2 : 0; $reserve = var['reserve']; if (!$reserve AND ($tokens1 <= 0 OR $tokens2 <= 0)) bounce("initial mint must be with both tokens"); $new_supply1 = var['supply1'] + $tokens1; $new_supply2 = var['supply2'] + $tokens2; $s1 = $new_supply1 / 10^params.decimals1; $s2 = $new_supply2 / 10^params.decimals2; $r = $get_reserve($s1, $s2); $p2 = $get_p2($s1, $s2); $new_reserve = ceil($r * 10^params.reserve_asset_decimals); $reserve_delta = $new_reserve - $reserve; // can be negative if ($tokens1 >= 0 AND $tokens2 >= 0 AND $reserve_delta < 0) bounce("issuing tokens while the reserve decreases?"); if ($tokens1 <= 0 AND $tokens2 <= 0 AND $reserve_delta > 0) bounce("burning tokens while the reserve increases?"); $new_distance = exists($target_p2) ? abs($p2 - $target_p2) / $target_p2 : 0; $avg_reserve = ($reserve + $new_reserve) / 2; $fast_capacity = var['fast_capacity']; if ($distance == 0 AND $new_distance == 0){ $fee = 0; $reward = 0; $reserve_needed = $reserve_delta; } else if ($new_distance >= $distance){ // going away from the target price - pay a fee $reward = 0; $regular_fee = $get_fee($avg_reserve, $distance, $new_distance); $new_fast_capacity = $fast_capacity + $regular_fee * $fast_capacity_share; $distance_share = 1 - $distance/$new_distance; // reward that would be paid for returning the price back to $initial_p2 $reverse_reward = $distance_share * $new_fast_capacity; if ($regular_fee >= $reverse_reward) $fee = $regular_fee; else $fee = ceil($distance_share / (1 - $distance_share * $fast_capacity_share) * $fast_capacity); $reserve_needed = $reserve_delta + $fee; // negative for payouts } else { // going towards the target price - get a reward $fee = 0; $reward = floor((1 - $new_distance/$distance) * $fast_capacity); $reserve_needed = $reserve_delta - $reward; // negative for payouts } $turnover = $get_turnover(-$reserve_delta, $tokens1, $tokens2, $p2); $fee_percent = $fee/$turnover*100; { reserve_needed: $reserve_needed, reserve_delta: $reserve_delta, fee: $fee, regular_fee: $regular_fee, reward: $reward, initial_p2: $initial_p2, p2: $p2, target_p2: $target_p2, new_distance: $new_distance, turnover: $turnover, fee_percent: $fee_percent, slow_capacity_share: $slow_capacity_share, } }; }", "init": "{ $define_asset2_forwarder = 'FNSRIUI7TPKK23PTR6MIXCPFIUSOKP2K'; $governance_base_aa = 'Y4VBXMROK5BWBKSYYAMUW7QUEZFXYBCF'; $aa2aa_bytes = 2000; // peg $allow_oracle_change = params.allow_oracle_change; // curve if (!exists(params.m) OR !exists(params.n)) bounce("curve not defined"); // dilution $allow_grants = params.allow_grants; // fee and capacitor $moved_capacity_share = var['moved_capacity_share'] OTHERWISE params.moved_capacity_share OTHERWISE 0.1; // how much is moved each time $threshold_distance = var['threshold_distance'] OTHERWISE params.threshold_distance OTHERWISE 0.01; // 1% deviation from the peg $move_capacity_timeout = var['move_capacity_timeout'] OTHERWISE params.move_capacity_timeout OTHERWISE 2*3600; // reserve $reserve_asset = params.reserve_asset OTHERWISE 'base'; if (!exists(params.reserve_asset_decimals)) bounce('no reserve_asset_decimals'); $min_contribution = ($reserve_asset == 'base') ? 99999 : 0; $network_fee = ($reserve_asset == 'base') ? 1000 : 0; // tokens if (!exists(params.decimals1)) bounce('no decimals1'); if (!exists(params.decimals2)) bounce('no decimals2'); $asset1 = var['asset1']; $asset2 = var['asset2']; $ready = $asset1 AND $asset2; if ($ready) $lost_peg_ts = var['lost_peg_ts']; }", "messages": { "cases": [ { "if": "{ trigger.data.define AND (!$asset1 OR !$asset2) }", "init": "{ $index = !$asset1 ? 1 : 2; }", "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 AND !$asset1}", "app": "data", "payload": { "factory": "{trigger.data.factory}" } }, { "if": "{trigger.data.factory AND !$asset1}", "app": "payment", "payload": { "asset": "base", "outputs": [ { "address": "{$define_asset2_forwarder}", "amount": 4000 } ] } }, { "if": "{trigger.data.factory AND $asset1}", "app": "data", "payload": { "asset1": "{$asset1}" } }, { "if": "{trigger.data.factory AND $asset1}", "app": "payment", "payload": { "asset": "base", "outputs": [ { "address": "{trigger.data.factory}", "amount": 4000 } ] } }, { "if": "{$asset1}", "app": "definition", "payload": { "definition": [ "autonomous agent", { "base_aa": "{$governance_base_aa}", "params": { "curve_aa": "{this_address}", "regular_challenging_period": "{params.regular_challenging_period}", "important_challenging_period": "{params.important_challenging_period}", "freeze_period": "{params.freeze_period}", "proposal_min_support": "{params.proposal_min_support}" } } ] } }, { "app": "state", "state": "{ var['asset' || $index] = response_unit; response['asset' || $index] = response_unit; if ($asset1){ var['governance_aa'] = unit[response_unit].messages[[.app='definition']].payload.address; var['rate_update_ts'] = timestamp; var['growth_factor'] = 1; var['interest_rate'] = $get_initial_interest_rate(); var['dilution_factor'] = 1; } }" } ] }, { "if": "{ $ready AND trigger.data.move_capacity }", "messages": [ { "app": "state", "state": "{ if ($lost_peg_ts){ $initial_p2 = var['p2']; $target_p2 = $get_target_p2(); $distance = exists($initial_p2) ? abs($initial_p2 - $target_p2) / $target_p2 : 0; if ($distance > $threshold_distance AND timestamp > $lost_peg_ts + $move_capacity_timeout){ $amount = floor($moved_capacity_share * var['slow_capacity']); var['slow_capacity'] -= $amount; var['fast_capacity'] += $amount; var['lost_peg_ts'] = timestamp; // restart the countdown to the next movement response['amount'] = $amount; } else if ($distance <= $threshold_distance) var['lost_peg_ts'] = false; } else if ($distance > $threshold_distance) var['lost_peg_ts'] = timestamp; }" } ] }, { "if": "{ $ready AND trigger.address == var['governance_aa'] AND trigger.data.name }", "init": "{ $name = trigger.data.name; }", "messages": [ { "app": "state", "state": "{ if ($name == 'oracles' AND !$allow_oracle_change) bounce("changing the oracle is not allowed"); if ($name == 'interest_rate'){ var['growth_factor'] = $get_growth_factor(); var['rate_update_ts'] = timestamp; } if (starts_with($name, 'deposits.')){ $short_name = substring($name, length('deposits.')); $deposit_params = var['deposit_params'] OTHERWISE {}; $deposit_params[$short_name] = trigger.data.value; var['deposit_params'] = $deposit_params; } else var[$name] = trigger.data.value; }" } ] }, { "if": "{ $ready AND trigger.address == var['governance_aa'] AND $allow_grants AND trigger.data.grant AND trigger.data.recipient AND trigger.data.amount }", "init": "{ $name = trigger.data.name; }", "messages": [ { "app": "payment", "payload": { "asset": "{$asset1}", "outputs": [ { "address": "{trigger.data.recipient}", "amount": "{trigger.data.amount}" } ] } }, { "app": "state", "state": "{ $supply2 = var['supply2']; $old_supply1 = var['supply1']; $new_supply1 = $old_supply1 + trigger.data.amount; // var['dilution_factor'] *= ($old_supply1/$new_supply1)^$m; var['dilution_factor'] *= $get_reserve($old_supply1, $supply2) / $get_reserve($new_supply1, $supply2); var['supply1'] += trigger.data.amount; }" } ] }, { "if": "{ $ready AND (trigger.output[[asset=$reserve_asset]] > $min_contribution AND (trigger.data.tokens1 OR trigger.data.tokens2) OR trigger.output[[asset=$asset1]] > 0 OR trigger.output[[asset=$asset2]] > 0) }", "init": "{ if (trigger.data.tokens1_to AND !is_valid_address(trigger.data.tokens1_to)) bounce("bad tokens1_to address"); if (trigger.data.tokens2_to AND !is_valid_address(trigger.data.tokens2_to)) bounce("bad tokens2_to address"); if (trigger.data.reserve_to AND !is_valid_address(trigger.data.reserve_to)) bounce("bad reserve_to address"); if (trigger.data.to AND !is_valid_address(trigger.data.to)) bounce("bad to address"); $tokens1_to = trigger.data.tokens1_to OTHERWISE trigger.data.to OTHERWISE trigger.address; $tokens2_to = trigger.data.tokens2_to OTHERWISE trigger.data.to OTHERWISE trigger.address; $reserve_to = trigger.data.reserve_to OTHERWISE trigger.data.to OTHERWISE trigger.address; if (trigger.data.tokens1 AND (!is_integer(trigger.data.tokens1) OR trigger.data.tokens1 <= 0)) bounce("invalid number of tokens1"); if (trigger.data.tokens2 AND (!is_integer(trigger.data.tokens2) OR trigger.data.tokens2 <= 0)) bounce("invalid number of tokens2"); if (trigger.data.tokens1 AND trigger.output[[asset=$asset1]] > 0) bounce("both tokens1 param and amount"); if (trigger.data.tokens2 AND trigger.output[[asset=$asset2]] > 0) bounce("both tokens2 param and amount"); $tokens1 = trigger.data.tokens1 OTHERWISE -trigger.output[[asset=$asset1]]; $tokens2 = trigger.data.tokens2 OTHERWISE -trigger.output[[asset=$asset2]]; $tokens1_to_aa = $tokens1 > 0 AND $tokens1_to != trigger.address AND is_aa($tokens1_to); $tokens2_to_aa = $tokens2 > 0 AND $tokens2_to != trigger.address AND is_aa($tokens2_to); $full_network_fee = $network_fee + ($reserve_asset == 'base' ? ($tokens1_to_aa ? $aa2aa_bytes : 0) + ($tokens2_to_aa ? $aa2aa_bytes : 0) : 0); $reserve_asset_amount = trigger.output[[asset=$reserve_asset]] - $full_network_fee; // subtract a fee to compensate for network fees $reserve = var['reserve']; if (!$reserve AND ($tokens1 <= 0 OR $tokens2 <= 0)) bounce("initial mint must be with both tokens"); $res = $get_exchange_result($tokens1, $tokens2); $reserve_needed = $res.reserve_needed; $reserve_delta = $res.reserve_delta; $fee = $res.fee; $regular_fee = $res.regular_fee; $reward = $res.reward; $p2 = $res.p2; $target_p2 = $res.target_p2; $new_distance = $res.new_distance; $turnover = $res.turnover; $fee_percent = $res.fee_percent; $slow_capacity_share = $res.slow_capacity_share; response['p2'] = $p2; response['target_p2'] = $target_p2; response['new_distance'] = $new_distance; response['fee'] = $fee; // response['term'] = (timestamp - var['rate_update_ts']) / (360 * 24 * 3600); response['growth_factor'] = $get_growth_factor(); response['turnover'] = $turnover; if ($reserve_delta > 0 AND $reserve_needed > $reserve_asset_amount){ $currency = ($reserve_asset == 'base') ? 'bytes' : 'reserve tokens'; bounce("expected " || ($reserve_needed + $full_network_fee) || " " || $currency || ", received " || ($reserve_asset_amount + $full_network_fee) /*|| ", growth factor " || $growth_factor*/ || ", p2 " || $p2 || ", target p2 " || $target_p2 || ", new distance " || $new_distance); } $payout = $reserve_asset_amount - $reserve_needed; // it is the change if reserve_delta>0 if ($payout < 0) bounce("unexpected payout < 0"); if ($payout > 0 AND trigger.data.min_reserve_tokens AND $payout < trigger.data.min_reserve_tokens) bounce("payout would be only " || $payout); if (trigger.data.max_fee_percent AND $fee_percent > trigger.data.max_fee_percent) bounce("fee would be " || $fee_percent || '%'); $reserve_to_aa = $payout > 0 AND $reserve_to != trigger.address AND is_aa($reserve_to); }", "messages": [ { "if": "{$tokens1 > 0}", "app": "payment", "payload": { "asset": "{$asset1}", "outputs": [ { "address": "{$tokens1_to}", "amount": "{ $tokens1 }" } ] } }, { "if": "{$tokens2 > 0}", "app": "payment", "payload": { "asset": "{$asset2}", "outputs": [ { "address": "{$tokens2_to}", "amount": "{ $tokens2 }" } ] } }, { "app": "payment", "payload": { "asset": "{$reserve_asset}", "outputs": [ { "address": "{$reserve_to}", "amount": "{ $payout }" }, { "address": "{$tokens1_to}", "amount": "{$aa2aa_bytes}", "if": "{ $reserve_asset == 'base' AND $tokens1_to_aa}" }, { "address": "{$tokens2_to}", "amount": "{$aa2aa_bytes}", "if": "{ $reserve_asset == 'base' AND $tokens2_to_aa}" } ] } }, { "if": "{ $reserve_asset != 'base' }", "app": "payment", "payload": { "asset": "base", "outputs": [ { "address": "{$reserve_to}", "amount": "{$aa2aa_bytes}", "if": "{$reserve_to_aa}" }, { "address": "{$tokens1_to}", "amount": "{$aa2aa_bytes}", "if": "{$tokens1_to_aa}" }, { "address": "{$tokens2_to}", "amount": "{$aa2aa_bytes}", "if": "{$tokens2_to_aa}" } ] } }, { "if": "{ $tokens1_to_aa OR $tokens2_to_aa OR $reserve_to_aa }", "app": "data", "payload": { "to": "{trigger.address}" } }, { "app": "state", "state": "{ var['p2'] = $p2; var['supply1'] += $tokens1; var['supply2'] += $tokens2; var['reserve'] += $reserve_delta; if ($fee){ $fee_to_slow_capacitor = floor($slow_capacity_share * $fee); $fee_to_fast_capacitor = $fee - $fee_to_slow_capacitor; var['slow_capacity'] += $fee_to_slow_capacitor; var['fast_capacity'] += $fee_to_fast_capacitor; response['fee%'] = round($fee_percent, 4) || '%'; } if ($reward){ var['fast_capacity'] -= $reward; response['reward%'] = round($reward / $turnover * 100, 4) || '%'; } if ($new_distance > $threshold_distance AND !$lost_peg_ts) var['lost_peg_ts'] = timestamp; if ($new_distance <= $threshold_distance AND $lost_peg_ts) var['lost_peg_ts'] = false; }" } ] } ] } } ]
Technical information
Fees:
18,410 bytes
(451 headers, 17959 payload)
Level:5915474
Witnessed level:5915459
Main chain index:5771143
Latest included mc index:5771141
Status:stable/confirmed/final