fix: handle frxETH depeg scenario

VenusProtocol · Feb 27, 2024 · 58e01aa · 58e01aa
1 parent 7ba3858
commit 58e01aa
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Showing 5 changed files with 76 additions and 14 deletions.
diff --git a/contracts/oracles/EtherFiOracle.sol b/contracts/oracles/EtherFiOracle.sol
@@ -56,7 +56,9 @@ contract EtherFiOracle is OracleInterface {
         uint256 eETHAmount = asset == address(eETH) ? EXP_SCALE : weETH.getEETHByWeETH(EXP_SCALE);
 
         // Calculate price of 1 eETH scaled by 1e18
-        uint256 eETHUSDPrice = RESILIENT_ORACLE.getPrice(ASSUME_EETH_ETH_EQUIVALENCE ? NATIVE_TOKEN_ADDR : address(eETH));
+        uint256 eETHUSDPrice = RESILIENT_ORACLE.getPrice(
+            ASSUME_EETH_ETH_EQUIVALENCE ? NATIVE_TOKEN_ADDR : address(eETH)
+        );
 
         // eETH amount (for 1 weETH or eETH) * usdPrice (of eETH) / 1e18
         return (eETHAmount * eETHUSDPrice) / EXP_SCALE;

diff --git a/contracts/oracles/FraxOracle.sol b/contracts/oracles/FraxOracle.sol
@@ -13,6 +13,10 @@ import { EXP_SCALE } from "@venusprotocol/solidity-utilities/contracts/constants
  * @notice This oracle fetches the price of sFrax and sfrxETH assets
  */
 contract FraxOracle is OracleInterface {
+    /// @notice A flag assuming 1:1 price equivalence between frxETH/ETH
+    /// @custom:oz-upgrades-unsafe-allow state-variable-immutable
+    bool public immutable ASSUME_FRXETH_ETH_EQUIVALENCE;
+
     /// @notice Address of sfraxETH
     /// @custom:oz-upgrades-unsafe-allow state-variable-immutable
     ISfraxETH public immutable sfraxETH;
@@ -25,6 +29,10 @@ contract FraxOracle is OracleInterface {
     /// @custom:oz-upgrades-unsafe-allow state-variable-immutable
     ISFrax public immutable sFRAX;
 
+    /// @notice Address of fraxETH
+    /// @custom:oz-upgrades-unsafe-allow state-variable-immutable
+    address public immutable fraxETH;
+
     /// @notice Address of Resilient Oracle
     /// @custom:oz-upgrades-unsafe-allow state-variable-immutable
     OracleInterface public immutable RESILIENT_ORACLE;
@@ -34,17 +42,28 @@ contract FraxOracle is OracleInterface {
 
     /// @notice Constructor for the implementation contract.
     /// @custom:oz-upgrades-unsafe-allow constructor
-    constructor(address _frax, address _sFrax, address _eth, address _sfraxETH, address _resilientOracleAddress) {
+    constructor(
+        address _frax,
+        address _sFrax,
+        address _eth,
+        address _sfraxETH,
+        address _fraxETH,
+        address _resilientOracleAddress,
+        bool _assumeEquivalence
+    ) {
         ensureNonzeroAddress(_frax);
         ensureNonzeroAddress(_sFrax);
         ensureNonzeroAddress(_eth);
         ensureNonzeroAddress(_sfraxETH);
+        ensureNonzeroAddress(_fraxETH);
         ensureNonzeroAddress(_resilientOracleAddress);
         FRAX = _frax;
         sFRAX = ISFrax(_sFrax);
         ETH = _eth;
         sfraxETH = ISfraxETH(_sfraxETH);
+        fraxETH = _fraxETH;
         RESILIENT_ORACLE = OracleInterface(_resilientOracleAddress);
+        ASSUME_FRXETH_ETH_EQUIVALENCE = _assumeEquivalence;
     }
 
     /**
@@ -59,7 +78,7 @@ contract FraxOracle is OracleInterface {
         if (asset == address(sFRAX)) {
             assetPriceInUSD = RESILIENT_ORACLE.getPrice(FRAX);
         } else {
-            assetPriceInUSD = RESILIENT_ORACLE.getPrice(ETH);
+            assetPriceInUSD = RESILIENT_ORACLE.getPrice(ASSUME_FRXETH_ETH_EQUIVALENCE ? ETH : address(fraxETH));
         }
 
         // get FRAX or ETH amount for 1 sFrax or sfraxETH scaled by 1e18

diff --git a/helpers/deploymentConfig.ts b/helpers/deploymentConfig.ts
@@ -115,6 +115,7 @@ export const ADDRESSES: PreconfiguredAddresses = {
     sFRAX: "0xA663B02CF0a4b149d2aD41910CB81e23e1c41c32",
     sfraxETH: "0xac3e018457b222d93114458476f3e3416abbe38f",
     FRAX: "0x853d955aCEf822Db058eb8505911ED77F175b99e",
+    fraxETH: "0x5e8422345238f34275888049021821e8e08caa1f",
     weETH: "0xCd5fE23C85820F7B72D0926FC9b05b43E359b7ee",
     eETH: "0x35fA164735182de50811E8e2E824cFb9B6118ac2",
   },

diff --git a/test/EtherFiOracle.ts b/test/EtherFiOracle.ts
@@ -37,7 +37,8 @@ describe("EtherFiOracle unit tests", () => {
 
   describe("deployment", () => {
     it("revert if weETH address is 0", async () => {
-      await expect(EtherFiOracleFactory.deploy(addr0000, eETHMock.address, resilientOracleMock.address, true)).to.be.reverted;
+      await expect(EtherFiOracleFactory.deploy(addr0000, eETHMock.address, resilientOracleMock.address, true)).to.be
+        .reverted;
     });
     it("revert if eETH address is 0", async () => {
       await expect(EtherFiOracleFactory.deploy(weETHMock.address, addr0000, resilientOracleMock.address, true)).to.be
@@ -51,7 +52,7 @@ describe("EtherFiOracle unit tests", () => {
         weETHMock.address,
         eETHMock.address,
         resilientOracleMock.address,
-        true
+        true,
       );
     });
   });

diff --git a/test/FraxOracle.ts b/test/FraxOracle.ts
@@ -10,7 +10,7 @@ import { addr0000 } from "./utils/data";
 const { expect } = chai;
 chai.use(smock.matchers);
 
-const { FRAX, sFRAX, sfraxETH } = ADDRESSES.ethereum;
+const { FRAX, sFRAX, sfraxETH, fraxETH } = ADDRESSES.ethereum;
 const WETH = assets.ethereum.find(asset => asset.token === "WETH")?.address;
 const FRAX_USD_PRICE = parseUnits("0.9979", 18); // 0.99 USD for 1 FRAX
 const ETH_USD_PRICE = parseUnits("3100", 18); // 3100 USD for 1 ETH
@@ -33,36 +33,75 @@ describe("FraxOracle unit tests", () => {
     sFraxETHMock.convertToAssets.returns(parseUnits("1.076546447254363344", 18));
 
     FraxOracleFactory = await ethers.getContractFactory("FraxOracle");
-
-    console.log(FRAX, sFRAX, WETH, sfraxETH);
   });
 
   describe("deployment", () => {
     it("revert if FRAX address is 0", async () => {
       await expect(
-        FraxOracleFactory.deploy(addr0000, sFraxMock.address, WETH, sFraxETHMock.address, resilientOracleMock.address),
+        FraxOracleFactory.deploy(
+          addr0000,
+          sFraxMock.address,
+          WETH,
+          sFraxETHMock.address,
+          fraxETH,
+          resilientOracleMock.address,
+          true,
+        ),
       ).to.be.reverted;
     });
     it("revert if sFRAX address is 0", async () => {
-      await expect(FraxOracleFactory.deploy(FRAX, addr0000, WETH, sFraxETHMock.address, resilientOracleMock.address)).to
-        .be.reverted;
+      await expect(
+        FraxOracleFactory.deploy(
+          FRAX,
+          addr0000,
+          WETH,
+          sFraxETHMock.address,
+          fraxETH,
+          resilientOracleMock.address,
+          true,
+        ),
+      ).to.be.reverted;
     });
     it("revert if ETH address is 0", async () => {
       await expect(
-        FraxOracleFactory.deploy(FRAX, sFraxMock.address, addr0000, sFraxETHMock.address, resilientOracleMock.address),
+        FraxOracleFactory.deploy(
+          FRAX,
+          sFraxMock.address,
+          addr0000,
+          sFraxETHMock.address,
+          fraxETH,
+          resilientOracleMock.address,
+          true,
+        ),
       ).to.be.reverted;
     });
     it("revert if sfraxETH address is 0", async () => {
-      await expect(FraxOracleFactory.deploy(FRAX, sFraxMock.address, WETH, addr0000, resilientOracleMock.address)).to.be
-        .reverted;
+      await expect(
+        FraxOracleFactory.deploy(FRAX, sFraxMock.address, WETH, addr0000, fraxETH, resilientOracleMock.address, true),
+      ).to.be.reverted;
+    });
+    it("revert if sfraxETH address is 0", async () => {
+      await expect(
+        FraxOracleFactory.deploy(
+          FRAX,
+          sFraxMock.address,
+          WETH,
+          sFraxETHMock.address,
+          addr0000,
+          resilientOracleMock.address,
+          true,
+        ),
+      ).to.be.reverted;
     });
     it("should deploy contract", async () => {
       FraxOracle = await FraxOracleFactory.deploy(
         FRAX,
         sFraxMock.address,
         WETH,
         sFraxETHMock.address,
+        fraxETH,
         resilientOracleMock.address,
+        true,
       );
     });
   });