[AVAX-74] Avalanche - Dynamic Issuance #664

DogaOztuzun · 2024-09-27T13:22:14Z

This pull request introduces the Dynamic Issuance feature, which allows for issuing the Native Token of an Avalanche L1 through the Bonding Curve Funding Manager using the Teleporter infrastructure. The implementation focuses on the integration of native token issuance and the Funding Manager is correctly deployed and registered as a module.

Avalanche, Teleporter and InterChain Token Transfer dependent changes are in another repository and there is a Pull Request needs your review;

avalanche-ws/pull-request

Files Requiring Review:

NativeIssuance_v1.sol:
- This contract handles the core native token issuance logic. Please review the design and functionality to verify the issuance process is implemented correctly.
FM_BC_Bancor_Redeeming_VirtualSupply_Native_v1.sol:
- This contract implements the bonding curve and virtual supply mechanism for redeeming and issuing the native token. Please verify if the logic correctly interacts with the native issuance module.
DeployPIML1.s.sol:
- The script registers the Funding Manager as a module and deploys the orchestrator. Verify if the deployment process and module registration are functioning correctly.

linear · 2024-09-27T13:22:18Z

AVAX-74 L1 - Dynamic Issuance

FHieser · 2024-10-01T11:16:57Z

src/external/token/NativeIssuance_v1.sol

+     *
+     * @dev This address was chosen arbitrarily.
+     */
+    address public constant BURNED_FOR_BONDINGCURVE_ADDRESS =


Maybe create a contract that is empty when creating this contract and assign it to the empty contract address, so nobody can mine for the original address

why not use something like 0xDEAD ?

It can be set as 0xDEAD or zero. I wanted to keep it different than those options just to see the amount of burned tokens by the Funding Manager.

I can update it to 0xDead, if it's more convenient.

0xNuggan · 2024-10-09T10:49:32Z

src/external/token/NativeIssuance_v1.sol

+     * @dev    `msg.value` is the amount of native tokens to be deposited.
+     * @param  from   The address that will have native tokens deposited for.
+     */
+    function depositNative(address from) external payable {


Out of curiosity: Why do this as a separate function call in the bonding curve override, instead of calling it from inside the burn() function in this contract?

This is a payable function because I needed to burn native tokens. I implemented it to comply with the current interfaces: IERC20Issuance_v1, IRedeemingBondingCurveBase_v1, and IBondingCurveBase_v1.

To burn tokens, the user needs to transfer native tokens directly to the contract. The current implementation works with ERC20 tokens and uses the approve/allowance mechanism to transfer tokens after user approval.

In the funding manager, I added a payable sellNative function, where users send native tokens to be burned. This function calls depositNative, which sends the tokens to NativeIssuance, responsible for burning them.

I’m not entirely happy with this approach, but it allowed me to implement it without breaking the existing interfaces or rewriting the burning mechanism from scratch.

I find the whole topic of adapting our system, which was designed in a way that it only takes in ERC20 tokens, to take native tokens kinda difficult to access. @DogaOztuzun did you have the chance to talk about this to anybody else from the Contract Team?

We didn't have a deep discussion and we agreed on an implementation with no breaking changes on the current system.
We agreed on applying IERC20Issuance to the NativeIssuance in a call.

Discussion Topic

It's never late for the better implementation, I think.

0xNuggan · 2024-10-09T10:55:02Z

test/external/NativeIssuance_v1.t.sol

+import {Ownable} from "@oz/access/Ownable.sol";
+import {NativeMinterMock} from "test/utils/mocks/external/NativeMinterMock.sol";
+
+contract NativeIssuanceTest is Test {


It would be great if you could add the BTT structure as a comment above the functions, to better keep track of what may be missing. Check out the Bonding Curve test files for an example. There are extension like bulloak that can help to do it fast

added some comments on tests about what they really tests

0xNuggan

The meat of it looks good, left some comments

0xNuggan · 2024-10-09T11:01:14Z

...undingManager/bondingCurve/utils/mocks/FM_BC_Bancor_Redeeming_VirtualSupply_NativeV1Mock.sol

+contract FM_BC_Bancor_Redeeming_VirtualSupply_NativeV1Mock is
+    FM_BC_Bancor_Redeeming_VirtualSupply_Native_v1
+{
+    function call_reserveRatioForBuying() external view returns (uint32) {


we call these "exposed_" now 😁 Check out the repo CoC: https://docs.google.com/document/d/10jYXETE6ySx1e1yLOSY7Ccfy52Mfee1OJUEqGv-_wSA/edit

updated to exposed_

0xNuggan · 2024-10-09T11:02:14Z

test/modules/fundingManager/bondingCurve/FM_BC_Bancor_Redeeming_VirtualSupply_Native_v1.t.sol

+        // assertEq(
+        //     issuanceToken.name(),
+        //     string(abi.encodePacked(NAME)),
+        //     "Name has not been set correctly"
+        // );
+        // assertEq(
+        //     issuanceToken.symbol(),
+        //     string(abi.encodePacked(SYMBOL)),
+        //     "Symbol has not been set correctly"
+        // );


outcommented

uncommented

0xNuggan · 2024-10-09T11:06:00Z

test/modules/fundingManager/bondingCurve/FM_BC_Bancor_Redeeming_VirtualSupply_Native_v1.t.sol

+    "./utils/mocks/FM_BC_Bancor_Redeeming_VirtualSupply_NativeV1Mock.sol";
+import {NativeMinterMock} from "test/utils/mocks/external/NativeMinterMock.sol";
+
+contract FM_BC_Bancor_Redeeming_VirtualSupply_NativeV1Test is ModuleTest {


Same as with the native minter, BTT would be great :)

added some comments on tests about what they really tests

0xNuggan

The meat of it looks good, left some comments

DogaOztuzun added 3 commits September 27, 2024 12:51

native token issuance contracts have been added

35aa6ae

Deployment script has been added

5596c0a

Merge branch 'dev' into avalanche

30a9115

DogaOztuzun self-assigned this Sep 27, 2024

fix forge formatter

5cb96fe

DogaOztuzun added the Feature Created by Linear-GitHub Sync label Sep 27, 2024

FHieser reviewed Oct 1, 2024

View reviewed changes

import contracts to be added to built artifacts

e20ac09

DogaOztuzun marked this pull request as ready for review October 4, 2024 15:48

marvinkruse requested review from marvinkruse and 0xNuggan October 8, 2024 11:56

0xNuggan reviewed Oct 9, 2024

View reviewed changes

0xNuggan requested changes Oct 9, 2024

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DogaOztuzun changed the title ~~[AVAX-74] Avalanche - Dynamic Issuance [WIP]~~ [AVAX-74] Avalanche - Dynamic Issuance Oct 11, 2024

DogaOztuzun added 2 commits October 16, 2024 11:22

BTT comments for test scenarios have been added

3287788

call__ prefix on the mock renamed to exposed_

18c6a49

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[AVAX-74] Avalanche - Dynamic Issuance #664

[AVAX-74] Avalanche - Dynamic Issuance #664

DogaOztuzun commented Sep 27, 2024 •

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[AVAX-74] Avalanche - Dynamic Issuance #664

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DogaOztuzun commented Sep 27, 2024 • edited Loading

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DogaOztuzun commented Sep 27, 2024 •

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