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2023-04-28 - Spark D3M + Configuration Changes #339

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merged 11 commits into from
May 3, 2023
Merged

2023-04-28 - Spark D3M + Configuration Changes #339

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2a1117e
add spark d3m spell
hexonaut Apr 26, 2023
0d34561
add spell copy + hash
hexonaut Apr 26, 2023
9f62a90
add ilk registry check
hexonaut Apr 26, 2023
40d4db4
add internal
hexonaut Apr 26, 2023
5540c11
merge master
hexonaut Apr 27, 2023
7efe500
zero out deployed spell and add prev spell
hexonaut Apr 27, 2023
42f6434
add explicit office hours
hexonaut May 1, 2023
7c92d12
use chainlog and addr.addr for wbtc
hexonaut May 1, 2023
6217df5
change addresses order; re-add new chainlog values explicit checks
hexonaut May 2, 2023
b0dcfed
add spell address and block/timestamp
hexonaut May 2, 2023
8e911ef
add archive
hexonaut May 2, 2023
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203 changes: 84 additions & 119 deletions src/DssSpell.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -19,42 +19,22 @@ pragma solidity 0.8.16;
import "dss-exec-lib/DssExec.sol";
import "dss-exec-lib/DssAction.sol";

interface VatLike {
function Line() external view returns (uint256);
function file(bytes32 what, uint256 data) external;
function ilks(bytes32 ilk) external view returns (uint256 Art, uint256 rate, uint256 spot, uint256 line, uint256 dust);
}

interface VestLike {
function yank(uint256, uint256) external;
}

interface GemLike {
function transfer(address, uint256) external returns (bool);
import { DssInstance, MCD } from "dss-test/MCD.sol";
import { D3MInit, D3MCommonConfig, D3MAavePoolConfig, D3MAaveBufferPlanConfig } from "src/dependencies/dss-direct-deposit/D3MInit.sol";
import { D3MInstance } from "src/dependencies/dss-direct-deposit/D3MInstance.sol";

interface PoolConfiguratorLike {
function setReserveFreeze(address asset, bool freeze) external;
function setReserveInterestRateStrategyAddress(address asset, address newRateStrategyAddress) external;
function setReserveFactor(address asset, uint256 newReserveFactor) external;
}

contract DssSpellAction is DssAction {
// Provides a descriptive tag for bot consumption
// This should be modified weekly to provide a summary of the actions
// Hash: cast keccak -- "$(wget 'https://raw.githubusercontent.com/makerdao/community/b4b7c953df5d9391bfd2a2d80e973b2f74b80878/governance/votes/Executive%20vote%20-%20April%2026%2C%202023.md' -q -O - 2>/dev/null)"
// Hash: cast keccak -- "$(wget 'https://raw.githubusercontent.com/makerdao/community/98e98eae03662eeab0dd2092ccc7edafb2dd75d3/governance/votes/Executive%20vote%20-%20April%2028%2C%202023.md' -q -O - 2>/dev/null)"
string public constant override description =
"2023-04-26 MakerDAO Executive Spell | Hash: 0xcb6486208b3cd076038392e547db55b56f4221ffd966ee1aa6573e6c86ec21d2";

uint256 internal constant FOUR_NINE_PCT_RATE = 1000000001516911765932351183;

uint256 internal constant WAD = 10 ** 18;

address internal constant PE_CONTRIBUTOR = 0x18A0609b14dB84bbcC3d911915a07CA9a28b9263;

uint256 internal constant END_VEST_TIMESTAMP = 1682899199; // Sun 30 Apr 23:59:59 UTC 2023

VatLike internal immutable vat = VatLike(DssExecLib.vat());
VestLike internal immutable vest = VestLike(DssExecLib.getChangelogAddress("MCD_VEST_MKR_TREASURY"));

// Turn office hours off
function officeHours() public pure override returns (bool) {
return false;
}
"2023-04-28 MakerDAO Executive Spell | Hash: 0xc42b83cc4f41bb759b62ac255533edba2a11195092d219b1eca54819d64069ca";

// Many of the settings that change weekly rely on the rate accumulator
// described at https://docs.makerdao.com/smart-contract-modules/rates-module
Expand All @@ -67,102 +47,87 @@ contract DssSpellAction is DssAction {
//
// uint256 internal constant X_PCT_RATE = ;

function actions() public override {

uint256 lineReduction;
uint256 line;

// ---------- RWA008-A Offboarding ----------
// Poll: N/A
// Forum: https://forum.makerdao.com/t/security-tokens-refinancing-mip6-application-for-ofh-tokens/10605/51

// Set RWA008-A Debt Ceiling to 0
(,,,line,) = vat.ilks("RWA008-A");
lineReduction += line;
DssExecLib.setIlkDebtCeiling("RWA008-A", 0);

// ---------- First Stage of Offboarding ----------
// Poll: https://vote.makerdao.com/polling/QmPwHhLT
// Forum: https://forum.makerdao.com/t/decentralized-collateral-scope-parameter-changes-1-april-2023/20302

// Set YFI-A line to 0
(,,,line,) = vat.ilks("YFI-A");
lineReduction += line;
DssExecLib.removeIlkFromAutoLine("YFI-A");
DssExecLib.setIlkDebtCeiling("YFI-A", 0);

// Set MATIC-A line to 0
(,,,line,) = vat.ilks("MATIC-A");
lineReduction += line;
DssExecLib.removeIlkFromAutoLine("MATIC-A");
DssExecLib.setIlkDebtCeiling("MATIC-A", 0);

// Set LINK-A line to 0
(,,,line,) = vat.ilks("LINK-A");
lineReduction += line;
DssExecLib.removeIlkFromAutoLine("LINK-A");
DssExecLib.setIlkDebtCeiling("LINK-A", 0);

// Decrease Global Debt Ceiling in accordance with Offboarded Ilks
vat.file("Line", vat.Line() - lineReduction);

// ---------- Stability Fee Changes ----------
// Poll: N/A
// Forum: https://forum.makerdao.com/t/decentralized-collateral-scope-parameter-changes-1-april-2023/20302

// Increase the WBTC-A Stability Fee from 1.75% to 4.90%
DssExecLib.setIlkStabilityFee("WBTC-A", FOUR_NINE_PCT_RATE, /* doDrip = */ true);

// Increase the WBTC-B Stability Fee from 3.25% to 4.90%
DssExecLib.setIlkStabilityFee("WBTC-B", FOUR_NINE_PCT_RATE, /* doDrip = */ true);

// Increase the WBTC-C Stability Fee from 1.00% to 4.90%
DssExecLib.setIlkStabilityFee("WBTC-C", FOUR_NINE_PCT_RATE, /* doDrip = */ true);

// Increase the GNO-A Stability Fee from 2.50% to 4.90%
DssExecLib.setIlkStabilityFee("GNO-A", FOUR_NINE_PCT_RATE, /* doDrip = */ true);

// ---------- PE MKR Vesting Stream Cleanup ----------

// PE-001 Contributor - 248 MKR - 0x18A0609b14dB84bbcC3d911915a07CA9a28b9263
GemLike(DssExecLib.mkr()).transfer(PE_CONTRIBUTOR, 248 * WAD);

// Yank MKR Stream ID 4 at timestamp 1682899199
vest.yank(4, END_VEST_TIMESTAMP);

// Yank MKR Stream ID 5 at timestamp 1682899199
vest.yank(5, END_VEST_TIMESTAMP);

// Yank MKR Stream ID 6 at timestamp 1682899199
vest.yank(6, END_VEST_TIMESTAMP);

// Yank MKR Stream ID 7 at timestamp 1682899199
vest.yank(7, END_VEST_TIMESTAMP);

// Yank MKR Stream ID 10 at timestamp 1682899199
vest.yank(10, END_VEST_TIMESTAMP);

// Yank MKR Stream ID 11 at timestamp 1682899199
vest.yank(11, END_VEST_TIMESTAMP);
// Turn office hours on
function officeHours() public pure override returns (bool) {
return true;
}

// Yank MKR Stream ID 12 at timestamp 1682899199
vest.yank(12, END_VEST_TIMESTAMP);
address internal immutable D3M_HUB = DssExecLib.getChangelogAddress("DIRECT_HUB");
address internal immutable D3M_MOM = DssExecLib.getChangelogAddress("DIRECT_MOM");

// Yank MKR Stream ID 14 at timestamp 1682899199
vest.yank(14, END_VEST_TIMESTAMP);
address internal constant SPARK_D3M_PLAN = 0x104FaDbb7e17db1A685bBa61007DfB015206a4D2;
address internal constant SPARK_D3M_POOL = 0xAfA2DD8a0594B2B24B59de405Da9338C4Ce23437;
address internal constant SPARK_D3M_ORACLE = 0xCBD53B683722F82Dc82EBa7916065532980d4833;

// Yank MKR Stream ID 15 at timestamp 1682899199
vest.yank(15, END_VEST_TIMESTAMP);
address internal constant SPARK_ADAI = 0x4DEDf26112B3Ec8eC46e7E31EA5e123490B05B8B;
address internal constant SPARK_DAI_STABLE_DEBT = 0xfe2B7a7F4cC0Fb76f7Fc1C6518D586F1e4559176;
address internal constant SPARK_DAI_VARIABLE_DEBT = 0xf705d2B7e92B3F38e6ae7afaDAA2fEE110fE5914;
address internal constant SPARK_POOL_CONFIGURATOR = 0x542DBa469bdE58FAeE189ffB60C6b49CE60E0738;

// Yank MKR Stream ID 16 at timestamp 1682899199
vest.yank(16, END_VEST_TIMESTAMP);
address internal constant WBTC = 0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599;
address internal constant INTEREST_RATE_STRATEGY = 0x113dc45c524404F91DcbbAbB103506bABC8Df0FE;

// Yank MKR Stream ID 17 at timestamp 1682899199
vest.yank(17, END_VEST_TIMESTAMP);
uint256 internal constant MILLION = 10 ** 6;
uint256 internal constant WAD = 10 ** 18;
uint256 internal constant RAD = 10 ** 45;

// Yank MKR Stream ID 29 at timestamp 1682899199
vest.yank(29, END_VEST_TIMESTAMP);
function actions() public override {

// ---- Spark D3M ----
// https://mips.makerdao.com/mips/details/MIP106
// https://mips.makerdao.com/mips/details/MIP104
// dss-direct-deposit @ 665afffea10c71561bd234a88caf6586bf46ada2

DssInstance memory dss = MCD.loadFromChainlog(DssExecLib.LOG);
D3MInstance memory d3m = D3MInstance({
plan: SPARK_D3M_PLAN,
pool: SPARK_D3M_POOL,
oracle: SPARK_D3M_ORACLE
});
D3MCommonConfig memory cfg = D3MCommonConfig({
hub: D3M_HUB,
mom: D3M_MOM,
ilk: "DIRECT-SPARK-DAI",
existingIlk: false,
maxLine: 5 * MILLION * RAD, // Set line to 5 million DAI
gap: 5 * MILLION * RAD, // Set gap to 5 million DAI
ttl: 8 hours, // Set ttl to 8 hours
tau: 7 days // Set tau to 7 days
});
D3MAavePoolConfig memory poolCfg = D3MAavePoolConfig({
king: DssExecLib.getChangelogAddress("MCD_PAUSE_PROXY"),
adai: SPARK_ADAI,
stableDebt: SPARK_DAI_STABLE_DEBT,
variableDebt: SPARK_DAI_VARIABLE_DEBT
});
D3MAaveBufferPlanConfig memory planCfg = D3MAaveBufferPlanConfig({
buffer: 30 * MILLION * WAD,
adai: SPARK_ADAI
});

D3MInit.initCommon({
dss: dss,
d3m: d3m,
cfg: cfg
});
D3MInit.initAavePool({
dss: dss,
d3m: d3m,
cfg: cfg,
aaveCfg: poolCfg
});
D3MInit.initAaveBufferPlan({
d3m: d3m,
aaveCfg: planCfg
});

// ---- Spark Lend Parameter Adjustments ----
PoolConfiguratorLike(SPARK_POOL_CONFIGURATOR).setReserveFreeze(WBTC, true);
PoolConfiguratorLike(SPARK_POOL_CONFIGURATOR).setReserveInterestRateStrategyAddress(address(dss.dai), INTEREST_RATE_STRATEGY);
PoolConfiguratorLike(SPARK_POOL_CONFIGURATOR).setReserveFactor(address(dss.dai), 0);

// Bump the chainlog
DssExecLib.setChangelogVersion("1.14.11");
}
}

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