deployment + verification scripts for sFRAX

.github/workflows/tests.yml

@@ -22,7 +22,6 @@ jobs:
       - run: yarn devchain &
         env:
           MAINNET_RPC_URL: https://mainnet.infura.io/v3/9aa3d95b3bc440fa88ea12eaa4456161
-          FORK_BLOCK: 18329921
           FORK_NETWORK: mainnet
       - run: yarn deploy:run --network localhost
         env:

common/configuration.ts

@@ -58,6 +58,7 @@ export interface ITokens {
   cUSDCv3?: string
   cUSDbCv3?: string
   ONDO?: string
+  sFRAX?: string
   sDAI?: string
   cbETH?: string
   STG?: string
@@ -177,6 +178,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       rETH: '0xae78736Cd615f374D3085123A210448E74Fc6393',
       cUSDCv3: '0xc3d688B66703497DAA19211EEdff47f25384cdc3',
       ONDO: '0xfAbA6f8e4a5E8Ab82F62fe7C39859FA577269BE3',
+      sFRAX: '0xA663B02CF0a4b149d2aD41910CB81e23e1c41c32',
       sDAI: '0x83f20f44975d03b1b09e64809b757c47f942beea',
       cbETH: '0xBe9895146f7AF43049ca1c1AE358B0541Ea49704',
       STG: '0xAf5191B0De278C7286d6C7CC6ab6BB8A73bA2Cd6',
@@ -228,7 +230,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
     COMET_EXT: '0x285617313887d43256F852cAE0Ee4de4b68D45B0',
     AAVE_V3_POOL: '0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2',
     AAVE_V3_INCENTIVES_CONTROLLER: '0x8164Cc65827dcFe994AB23944CBC90e0aa80bFcb',
-    STARGATE_STAKING_CONTRACT: '0xB0D502E938ed5f4df2E681fE6E419ff29631d62b'
+    STARGATE_STAKING_CONTRACT: '0xB0D502E938ed5f4df2E681fE6E419ff29631d62b',
   },
   '1': {
     name: 'mainnet',
@@ -279,6 +281,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       rETH: '0xae78736Cd615f374D3085123A210448E74Fc6393',
       cUSDCv3: '0xc3d688B66703497DAA19211EEdff47f25384cdc3',
       ONDO: '0xfAbA6f8e4a5E8Ab82F62fe7C39859FA577269BE3',
+      sFRAX: '0xA663B02CF0a4b149d2aD41910CB81e23e1c41c32',
       sDAI: '0x83f20f44975d03b1b09e64809b757c47f942beea',
       cbETH: '0xBe9895146f7AF43049ca1c1AE358B0541Ea49704',
       STG: '0xAf5191B0De278C7286d6C7CC6ab6BB8A73bA2Cd6',
@@ -327,7 +330,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
     COMET_EXT: '0x285617313887d43256F852cAE0Ee4de4b68D45B0',
     AAVE_V3_POOL: '0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2',
     AAVE_V3_INCENTIVES_CONTROLLER: '0x8164Cc65827dcFe994AB23944CBC90e0aa80bFcb',
-    STARGATE_STAKING_CONTRACT: '0xB0D502E938ed5f4df2E681fE6E419ff29631d62b'
+    STARGATE_STAKING_CONTRACT: '0xB0D502E938ed5f4df2E681fE6E419ff29631d62b',
   },
   '3': {
     name: 'tenderly',
@@ -426,7 +429,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
     COMET_EXT: '0x285617313887d43256F852cAE0Ee4de4b68D45B0',
     AAVE_V3_POOL: '0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2',
     AAVE_V3_INCENTIVES_CONTROLLER: '0x8164Cc65827dcFe994AB23944CBC90e0aa80bFcb',
-    STARGATE_STAKING_CONTRACT: '0xB0D502E938ed5f4df2E681fE6E419ff29631d62b'
+    STARGATE_STAKING_CONTRACT: '0xB0D502E938ed5f4df2E681fE6E419ff29631d62b',
   },
   '5': {
     name: 'goerli',
@@ -530,7 +533,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       aWETHv3: '0xD4a0e0b9149BCee3C920d2E00b5dE09138fd8bb7',
       acbETHv3: '0xcf3D55c10DB69f28fD1A75Bd73f3D8A2d9c595ad',
       sUSDbC: '0x4c80e24119cfb836cdf0a6b53dc23f04f7e652ca',
-      STG: '0xE3B53AF74a4BF62Ae5511055290838050bf764Df'
+      STG: '0xE3B53AF74a4BF62Ae5511055290838050bf764Df',
     },
     chainlinkFeeds: {
       DAI: '0x591e79239a7d679378ec8c847e5038150364c78f', // 0.3%, 24hr
@@ -543,7 +546,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       RSR: '0xAa98aE504658766Dfe11F31c5D95a0bdcABDe0b1', // 2%, 24hr
       wstETHstETHexr: '0xB88BAc61a4Ca37C43a3725912B1f472c9A5bc061', // 0.5%, 24hr
       cbETHETHexr: '0x868a501e68F3D1E89CfC0D22F6b22E8dabce5F04', // 0.5%, 24hr
-      STG: '0x63Af8341b62E683B87bB540896bF283D96B4D385'
+      STG: '0x63Af8341b62E683B87bB540896bF283D96B4D385',
     },
     GNOSIS_EASY_AUCTION: '0xb1875Feaeea32Bbb02DE83D81772e07E37A40f02', // mock
     COMET_REWARDS: '0x123964802e6ABabBE1Bc9547D72Ef1B69B00A6b1',
@@ -552,7 +555,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
     COMET_EXT: '0x2F9E3953b2Ef89fA265f2a32ed9F80D00229125B',
     AAVE_V3_POOL: '0xA238Dd80C259a72e81d7e4664a9801593F98d1c5',
     AAVE_V3_INCENTIVES_CONTROLLER: '0xf9cc4F0D883F1a1eb2c253bdb46c254Ca51E1F44',
-    STARGATE_STAKING_CONTRACT: '0x06Eb48763f117c7Be887296CDcdfad2E4092739C'
+    STARGATE_STAKING_CONTRACT: '0x06Eb48763f117c7Be887296CDcdfad2E4092739C',
   },
 }
 

contracts/plugins/assets/frax/README.md

@@ -0,0 +1,33 @@
+# Staked FRAX (sFRAX) Collateral Plugin
+
+## Summary
+
+This plugin allows `sFRAX` holders to use their tokens as collateral in the Reserve Protocol.
+
+sFRAX is a non-upgradeable ERC4626 vault that earns the user the right to an increasing quantity of FRAX over time. The income stream is administered through a timelock + multisig. The only control the timelock has over the vault is the ability to change the rate of interest accrual. At all times `sFRAX` can be redeemed for a prorata portion of the held `FRAX`.
+
+The timelock + multisig targets a rate of appreciation for `sFRAX` equal to the IORB, or the FED's **interest rate on reserve balances**. In the background, an AMO puts FRAX to work in defi in order to try to cover as much of the interest as possible. Any interest that is not found defi is covered by FXS. If the frax protocol were unable to make good on the targeted IORB rate, they would either have to drop the `sFRAX` yield or risk de-pegging FRAX, which would begin to be become undercollateralized.
+
+Since it is ERC4626, the redeemable FRAX amount can be gotten by dividing `sFRAX.totalAssets()` by `sFRAX.totalSupply()`.
+
+No function needs be called in order to update `refPerTok()`. `totalAssets()` is already a function of the block timestamp and increases as time passes.
+
+We can use 0 revenue hiding since the vault correctly rounds defensively in favor of `sFRAX` holders during deposit/withdrawal (thx t11s).
+
+No rewards other than the ever-increasing exchange rate.
+
+`sFRAX` contract: <https://etherscan.io/address/0xA663B02CF0a4b149d2aD41910CB81e23e1c41c32#code>
+
+## Implementation
+
+### Units
+
+| tok   | ref  | target | UoA |
+| ----- | ---- | ------ | --- |
+| sFRAX | FRAX | USD    | USD |
+
+### Functions
+
+#### refPerTok {ref/tok}
+
+`return divuu(IStakedFrax(address(erc20)).totalAssets(), IStakedFrax(address(erc20)).totalSupply());`

contracts/plugins/assets/frax/SFraxCollateral.sol

@@ -0,0 +1,38 @@
+// SPDX-License-Identifier: BlueOak-1.0.0
+pragma solidity 0.8.19;
+
+import "../../../libraries/Fixed.sol";
+import "../../../vendor/oz/IERC4626.sol";
+import "../AppreciatingFiatCollateral.sol";
+
+interface IStakedFrax is IERC4626 {
+    function syncRewardsAndDistribution() external;
+}
+
+/**
+ * @title sFRAX Collateral
+ * @notice Collateral plugin for staked FRAX (sFRAX)
+ * tok = sFRAX (ERC4626 vault)
+ * ref = FRAX
+ * tar = USD
+ * UoA = USD
+ */
+contract SFraxCollateral is AppreciatingFiatCollateral {
+    // solhint-disable no-empty-blocks
+
+    /// @param config.chainlinkFeed {UoA/ref} price of DAI in USD terms
+    constructor(CollateralConfig memory config, uint192 revenueHiding)
+        AppreciatingFiatCollateral(config, revenueHiding)
+    {}
+
+    // solhint-enable no-empty-blocks
+
+    /// @return {ref/tok} Actual quantity of whole reference units per whole collateral tokens
+    function _underlyingRefPerTok() internal view override returns (uint192) {
+        return
+            divuu(
+                IStakedFrax(address(erc20)).totalAssets(),
+                IStakedFrax(address(erc20)).totalSupply()
+            );
+    }
+}

scripts/deploy.ts

@@ -26,7 +26,7 @@ async function main() {
   // See `confirm.ts` for part 2
 
   // Phase 1- Implementations
-  let scripts = [
+  const scripts = [
     'phase1-common/0_setup_deployments.ts',
     'phase1-common/1_deploy_libraries.ts',
     'phase1-common/2_deploy_implementations.ts',
@@ -61,7 +61,8 @@ async function main() {
       'phase2-assets/collaterals/deploy_dsr_sdai.ts',
       'phase2-assets/collaterals/deploy_cbeth_collateral.ts',
       'phase2-assets/collaterals/deploy_morpho_aavev2_plugin.ts',
-      'phase2-assets/collaterals/deploy_aave_v3_usdc.ts'
+      'phase2-assets/collaterals/deploy_aave_v3_usdc.ts',
+      'phase2-assets/collaterals/deploy_sfrax.ts'
     )
   } else if (chainId == '8453' || chainId == '84531') {
     // Base L2 chains
@@ -73,7 +74,7 @@ async function main() {
       'phase2-assets/collaterals/deploy_ctokenv3_usdbc_collateral.ts',
       'phase2-assets/collaterals/deploy_aave_v3_usdbc.ts',
       'phase2-assets/collaterals/deploy_stargate_usdc_collateral.ts',
-      'phase2-assets/assets/deploy_stg.ts',
+      'phase2-assets/assets/deploy_stg.ts'
     )
   }
 

scripts/deployment/phase2-assets/collaterals/deploy_sfrax.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, oracleTimeout } from '../../utils'
+import { SFraxCollateral } 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 SFRAX Collateral - sFRAX  **************************/
+
+  const SFraxCollateralFactory: ContractFactory = await hre.ethers.getContractFactory(
+    'SFraxCollateral'
+  )
+
+  const collateral = <SFraxCollateral>await SFraxCollateralFactory.connect(deployer).deploy(
+    {
+      priceTimeout: priceTimeout.toString(),
+      chainlinkFeed: networkConfig[chainId].chainlinkFeeds.FRAX,
+      oracleError: fp('0.01').toString(), // 1%
+      erc20: networkConfig[chainId].tokens.sFRAX,
+      maxTradeVolume: fp('1e6').toString(), // $1m,
+      oracleTimeout: oracleTimeout(chainId, '3600').toString(), // 1 hr
+      targetName: hre.ethers.utils.formatBytes32String('USD'),
+      defaultThreshold: fp('0.02').toString(), // 2% = 1% oracleError + 1% buffer
+      delayUntilDefault: bn('86400').toString(), // 24h
+    },
+    '0' // revenueHiding = 0
+  )
+  await collateral.deployed()
+
+  console.log(`Deployed sFRAX to ${hre.network.name} (${chainId}): ${collateral.address}`)
+  await (await collateral.refresh()).wait()
+  expect(await collateral.status()).to.equal(CollateralStatus.SOUND)
+
+  assetCollDeployments.collateral.sFRAX = collateral.address
+  assetCollDeployments.erc20s.sFRAX = networkConfig[chainId].tokens.sFRAX
+  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_sfrax.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, oracleTimeout, 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 sFRAX  **************************/
+  await verifyContract(
+    chainId,
+    deployments.collateral.sFRAX,
+    [
+      {
+        priceTimeout: priceTimeout.toString(),
+        chainlinkFeed: networkConfig[chainId].chainlinkFeeds.FRAX,
+        oracleError: fp('0.01').toString(), // 1%
+        erc20: networkConfig[chainId].tokens.sFRAX,
+        maxTradeVolume: fp('1e6').toString(), // $1m,
+        oracleTimeout: oracleTimeout(chainId, '3600').toString(), // 1 hr
+        targetName: hre.ethers.utils.formatBytes32String('USD'),
+        defaultThreshold: fp('0.02').toString(), // 2%
+        delayUntilDefault: bn('86400').toString(), // 24h
+      },
+      '0', // revenueHiding = 0
+    ],
+    'contracts/plugins/assets/frax/SFraxCollateral.sol:SFraxCollateral'
+  )
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

scripts/verify_etherscan.ts

@@ -36,7 +36,7 @@ async function main() {
   // even if some portions have already been verified
 
   // Phase 1- Common
-  let scripts = [
+  const scripts = [
     '0_verify_libraries.ts',
     '1_verify_implementations.ts',
     '2_verify_rsrAsset.ts',
@@ -61,7 +61,8 @@ async function main() {
       'collateral-plugins/verify_cbeth.ts',
       'collateral-plugins/verify_sdai.ts',
       'collateral-plugins/verify_morpho.ts',
-      'collateral-plugins/verify_aave_v3_usdc.ts'
+      'collateral-plugins/verify_aave_v3_usdc.ts',
+      'collateral-plugins/verify_sfrax.ts'
     )
   } else if (chainId == '8453' || chainId == '84531') {
     // Base L2 chains

test/integration/fork-block-numbers.ts

@@ -5,7 +5,7 @@ const forkBlockNumber = {
   'mainnet-deployment': 15690042, // Ethereum
   'flux-finance': 16836855, // Ethereum
   'mainnet-2.0': 17522362, // Ethereum
-  default: 16934828, // Ethereum
+  default: 18522901, // Ethereum
 }
 
 export default forkBlockNumber