nars - snars - collateral plugin

common/configuration.ts

@@ -115,6 +115,10 @@ export interface ITokens {
   // Mountain
   USDM?: string
   wUSDM?: string
+
+  // NUM
+  snARS?: string
+  nARS?: string
 }
 
 export type ITokensKeys = Array<keyof ITokens>
@@ -513,6 +517,8 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       sUSDbC: '0x4c80e24119cfb836cdf0a6b53dc23f04f7e652ca',
       wstETH: '0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452',
       STG: '0xE3B53AF74a4BF62Ae5511055290838050bf764Df',
+      snARS: '0xC1F4C75e8925A67BE4F35D6b1c044B5ea8849a58',
+      nARS: '0x5e40f26E89213660514c51Fb61b2d357DBf63C85',
     },
     chainlinkFeeds: {
       DAI: '0x591e79239a7d679378ec8c847e5038150364c78f', // 0.3%, 24hr
@@ -529,6 +535,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       stETHETH: '0xf586d0728a47229e747d824a939000Cf21dEF5A0', // 0.5%, 24h
       ETHUSD: '0x71041dddad3595F9CEd3DcCFBe3D1F4b0a16Bb70', // 0.15%, 20min
       wstETHstETH: '0xB88BAc61a4Ca37C43a3725912B1f472c9A5bc061', // 0.5%, 24h
+      nARS: '0xC3a426Ef79fd60A4cA785FC04a2C3cB09d2FEeae', // 0.5%, 15min
     },
     GNOSIS_EASY_AUCTION: '0xb1875Feaeea32Bbb02DE83D81772e07E37A40f02', // mock
     COMET_REWARDS: '0x123964802e6ABabBE1Bc9547D72Ef1B69B00A6b1',

contracts/plugins/assets/num/README.md

@@ -0,0 +1,33 @@
+# Collateral Plugins for nARS and snARS
+
+## Summary
+
+This plugin allows `nARS` and `snARS` holders to use their tokens as collateral in the Reserve Protocol.
+
+As described in the [Num Site](https://new.num.finance/) nTokens are ERC20 tokens, tracking the value of an underlying financial asset.
+Each nToken issued by Num Finance is fully collateralized by an asset in the traditional market. This means that for every nToken in circulation, there is a real-world asset backing it, ensuring the token's value and stability.
+
+In this particular case we're incorporating through this plugin 2 nTokens.
+
+- `nARS` is a stablecoin pegged to the `Argentine Peso (ARS)`.
+- `snARS` is the staked version of `nARS`. When users stake their `nARS`, they receive `snARS` in return, which grants them certain benefits in the form of yield or Numun Rewards.
+
+Staking of `nARS` is possible at: https://numun.fi/
+Official num website: https://num.finance/
+nStables documentation: https://docs.nstables.fi/
+
+## Implementation
+
+### Units
+
+| tok  | ref | target | UoA |
+| ---- | --- | ------ | --- |
+| nARS | ARS | ARS    | USD |
+
+| tok   | ref  | target | UoA |
+| ----- | ---- | ------ | --- |
+| sNARS | nARS | ARS    | USD |
+
+### claimRewards()
+
+There are no rewards to claim

contracts/plugins/assets/num/SnARSFiatCollateral.sol

@@ -0,0 +1,24 @@
+// SPDX-License-Identifier: BlueOak-1.0.0
+pragma solidity 0.8.19;
+
+import { CollateralConfig } from "../AppreciatingFiatCollateral.sol";
+import { ERC4626FiatCollateral } from "../ERC4626FiatCollateral.sol";
+
+/**
+ * @title SnARSFiatCollateral
+ * @notice Collateral plugin for a Num vault with fiat collateral
+ * tok = sNARS
+ * ref = nARS
+ * tar = ARS
+ * UoA = USD
+ */
+contract SnARSFiatCollateral is ERC4626FiatCollateral {
+    /// config.erc20 must be a Num ERC4626 vault
+    /// @param config.chainlinkFeed Feed units: {UoA/ref}
+    /// @param revenueHiding {1} A value like 1e-6 that represents the maximum refPerTok to hide
+    constructor(CollateralConfig memory config, uint192 revenueHiding)
+        ERC4626FiatCollateral(config, revenueHiding)
+    {
+        require(config.defaultThreshold != 0, "defaultThreshold zero");
+    }
+}

scripts/deployment/phase2-assets/collaterals/deploy_nARS.ts

@@ -0,0 +1,81 @@
+import fs from 'fs'
+import hre, { ethers } from 'hardhat'
+import { ICollateral } from '@typechain/ICollateral'
+import { getChainId } from '../../../../common/blockchain-utils'
+import { baseL2Chains, networkConfig } from '../../../../common/configuration'
+import { bn, fp } from '../../../../common/numbers'
+import { expect } from 'chai'
+import { CollateralStatus } from '../../../../common/constants'
+import {
+  getDeploymentFile,
+  getAssetCollDeploymentFilename,
+  IAssetCollDeployments,
+  getDeploymentFilename,
+  fileExists,
+} from '../../common'
+import { priceTimeout } from '../../../deployment/utils'
+
+async function main() {
+  // ==== Read Configuration ====
+  const [deployer] = await hre.ethers.getSigners()
+
+  const chainId = await getChainId(hre)
+
+  console.log(`Deploying Collateral to network ${hre.network.name} (${chainId})
+    with burner account: ${deployer.address}`)
+
+  if (!networkConfig[chainId]) {
+    throw new Error(`Missing network configuration for ${hre.network.name}`)
+  }
+
+  // Only exists on Base chain
+  if (!baseL2Chains.includes(hre.network.name)) {
+    throw new Error(`Invalid network ${hre.network.name} - only available on Base chain`)
+  }
+
+  // Get phase1 deployment
+  const phase1File = getDeploymentFilename(chainId)
+  if (!fileExists(phase1File)) {
+    throw new Error(`${phase1File} doesn't exist yet. Run phase 1`)
+  }
+  // Check previous step completed
+  const assetCollDeploymentFilename = getAssetCollDeploymentFilename(chainId)
+  const assetCollDeployments = <IAssetCollDeployments>getDeploymentFile(assetCollDeploymentFilename)
+
+  const deployedCollateral: string[] = []
+
+  let collateral: ICollateral
+
+  /********  Deploy NARS Collateral - ARS  **************************/
+
+  const { collateral: narsCollateral } = await hre.run('deploy-fiat-collateral', {
+    priceTimeout: priceTimeout.toString(),
+    priceFeed: networkConfig[chainId].chainlinkFeeds.nARS,
+    oracleError: fp('0.005').toString(), // 0.5%
+    tokenAddress: networkConfig[chainId].tokens.nARS,
+    maxTradeVolume: fp('1e6').toString(), // $1m,
+    oracleTimeout: '900',
+    targetName: hre.ethers.utils.formatBytes32String('ARS'),
+    defaultThreshold: fp('0.015').toString(), // 1.5%
+    delayUntilDefault: bn('86400').toString(), // 24h
+  })
+
+  collateral = <ICollateral>await ethers.getContractAt('ICollateral', narsCollateral)
+  await (await collateral.refresh()).wait()
+  expect(await collateral.status()).to.equal(CollateralStatus.SOUND)
+
+  assetCollDeployments.collateral.nARS = narsCollateral
+  assetCollDeployments.erc20s.nARS = networkConfig[chainId].tokens.nARS
+  deployedCollateral.push(narsCollateral.toString())
+
+  fs.writeFileSync(assetCollDeploymentFilename, JSON.stringify(assetCollDeployments, null, 2))
+
+  console.log(`Deployed nARS asset to ${hre.network.name} (${chainId}):
+    New deployments: ${deployedCollateral}
+    Deployment file: ${assetCollDeploymentFilename}`)
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

scripts/deployment/phase2-assets/collaterals/deploy_snARS.ts

@@ -0,0 +1,83 @@
+import fs from 'fs'
+import hre from 'hardhat'
+import { getChainId } from '../../../../common/blockchain-utils'
+import { networkConfig } from '../../../../common/configuration'
+import { bn, fp } from '../../../../common/numbers'
+import { expect } from 'chai'
+import { CollateralStatus } from '../../../../common/constants'
+import {
+  getDeploymentFile,
+  getAssetCollDeploymentFilename,
+  IAssetCollDeployments,
+  getDeploymentFilename,
+  fileExists,
+} from '../../common'
+import { priceTimeout } from '../../utils'
+import { SnARSFiatCollateral } from '../../../../typechain'
+import { ContractFactory } from 'ethers'
+
+async function main() {
+  // ==== Read Configuration ====
+  const [deployer] = await hre.ethers.getSigners()
+
+  const chainId = await getChainId(hre)
+
+  console.log(`Deploying Collateral to network ${hre.network.name} (${chainId})
+    with burner account: ${deployer.address}`)
+
+  if (!networkConfig[chainId]) {
+    throw new Error(`Missing network configuration for ${hre.network.name}`)
+  }
+
+  // Get phase1 deployment
+  const phase1File = getDeploymentFilename(chainId)
+  if (!fileExists(phase1File)) {
+    throw new Error(`${phase1File} doesn't exist yet. Run phase 1`)
+  }
+  // Check previous step completed
+  const assetCollDeploymentFilename = getAssetCollDeploymentFilename(chainId)
+  const assetCollDeployments = <IAssetCollDeployments>getDeploymentFile(assetCollDeploymentFilename)
+
+  const deployedCollateral: string[] = []
+
+  /********  Deploy snARS Collateral - snARS  **************************/
+
+  const nuARSCollateralFactory: ContractFactory = await hre.ethers.getContractFactory(
+    'FiatCollateral'
+  )
+
+  const collateral = <SnARSFiatCollateral>await nuARSCollateralFactory.connect(deployer).deploy(
+    {
+      priceTimeout: priceTimeout.toString(),
+      chainlinkFeed: networkConfig[chainId].chainlinkFeeds.snARS,
+      oracleError: fp('0.005').toString(), // 0.5%
+      erc20: networkConfig[chainId].tokens.snARS,
+      maxTradeVolume: fp('1e6').toString(), // $1m,
+      oracleTimeout: '900', // 15min
+      targetName: hre.ethers.utils.formatBytes32String('ARS'),
+      defaultThreshold: fp('0.015').toString(), // 1.5% = 0.5% oracleError + 1% buffer
+      delayUntilDefault: bn('86400').toString(), // 24h
+    },
+    '0' // revenueHiding = 0
+  )
+  await collateral.deployed()
+
+  console.log(`Deployed snARS to ${hre.network.name} (${chainId}): ${collateral.address}`)
+  await (await collateral.refresh()).wait()
+  expect(await collateral.status()).to.equal(CollateralStatus.SOUND)
+
+  assetCollDeployments.collateral.snARS = collateral.address
+  assetCollDeployments.erc20s.snARS = networkConfig[chainId].tokens.snARS
+  deployedCollateral.push(collateral.address.toString())
+
+  fs.writeFileSync(assetCollDeploymentFilename, JSON.stringify(assetCollDeployments, null, 2))
+
+  console.log(`Deployed collateral to ${hre.network.name} (${chainId})
+        New deployments: ${deployedCollateral}
+        Deployment file: ${assetCollDeploymentFilename}`)
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

scripts/verification/collateral-plugins/verify_snARS.ts

@@ -0,0 +1,53 @@
+import hre from 'hardhat'
+import { getChainId } from '../../../common/blockchain-utils'
+import { developmentChains, networkConfig } from '../../../common/configuration'
+import { fp, bn } from '../../../common/numbers'
+import {
+  getDeploymentFile,
+  getAssetCollDeploymentFilename,
+  IAssetCollDeployments,
+} from '../../deployment/common'
+import { priceTimeout, verifyContract } from '../../deployment/utils'
+
+let deployments: IAssetCollDeployments
+
+async function main() {
+  // ********** Read config **********
+  const chainId = await getChainId(hre)
+  if (!networkConfig[chainId]) {
+    throw new Error(`Missing network configuration for ${hre.network.name}`)
+  }
+
+  if (developmentChains.includes(hre.network.name)) {
+    throw new Error(`Cannot verify contracts for development chain ${hre.network.name}`)
+  }
+
+  const assetCollDeploymentFilename = getAssetCollDeploymentFilename(chainId)
+  deployments = <IAssetCollDeployments>getDeploymentFile(assetCollDeploymentFilename)
+
+  /********  Verify snARS  **************************/
+  await verifyContract(
+    chainId,
+    deployments.collateral.snARS,
+    [
+      {
+        priceTimeout: priceTimeout.toString(),
+        chainlinkFeed: networkConfig[chainId].chainlinkFeeds.snARS,
+        oracleError: fp('0.01').toString(), // 1%
+        erc20: networkConfig[chainId].tokens.snARS,
+        maxTradeVolume: fp('1e6').toString(), // $1m,
+        oracleTimeout: '3600', // 1 hr
+        targetName: hre.ethers.utils.formatBytes32String('ARS'),
+        defaultThreshold: fp('0.02').toString(), // 2%
+        delayUntilDefault: bn('86400').toString(), // 24h
+      },
+      '0', // revenueHiding = 0
+    ],
+    'contracts/plugins/assets/num/SnARSFiatCollateral.sol:SnARSFiatCollateral'
+  )
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

test/plugins/individual-collateral/collateralTests.ts

@@ -58,6 +58,7 @@ import {
 } from '../../../typechain'
 import snapshotGasCost from '../../utils/snapshotGasCost'
 import { IMPLEMENTATION, Implementation, ORACLE_ERROR, PRICE_TIMEOUT } from '../../fixtures'
+import { NUM_HOLDER } from './num/constants'
 
 const getDescribeFork = (targetNetwork = 'mainnet') => {
   return useEnv('FORK') && useEnv('FORK_NETWORK') === targetNetwork ? describe : describe.skip
@@ -1003,6 +1004,34 @@ export default function fn<X extends CollateralFixtureContext>(
             targetUnitOracle.address,
             ORACLE_TIMEOUT
           )
+        } else if (target == ethers.utils.formatBytes32String('ARS')) {
+          // ARS
+          if (!onBase) throw new Error('nARS/snARS only available on base')
+
+          const erc20 = await ethers.getContractAt(
+            'IERC20Metadata',
+            onBase ? networkConfig[chainId].tokens.snARS! : networkConfig[chainId].tokens.snARS!
+          )
+          const whale = NUM_HOLDER
+          await whileImpersonating(whale, async (signer) => {
+            await erc20
+              .connect(signer)
+              .transfer(addr1.address, await erc20.balanceOf(signer.address))
+          })
+          const FiatCollateralFactory: ContractFactory = await ethers.getContractFactory(
+            'FiatCollateral'
+          )
+          return <TestICollateral>await FiatCollateralFactory.deploy({
+            priceTimeout: PRICE_TIMEOUT,
+            chainlinkFeed: chainlinkFeed.address,
+            oracleError: ORACLE_ERROR,
+            oracleTimeout: ORACLE_TIMEOUT,
+            maxTradeVolume: MAX_UINT192,
+            erc20: erc20.address,
+            targetName: ethers.utils.formatBytes32String('ARS'),
+            defaultThreshold: fp('0.015'), // 1.5%
+            delayUntilDefault: bn('86400'), // 24h,
+          })
         } else {
           throw new Error(`Unknown target: ${target}`)
         }