Pool
This contract manages a pool of assets, allowing for the creation and redemption of bond and leverage tokens. It also handles distribution periods and interacts with an oracle for price information.
The Pool is the core contract for the Plaza protocol. The pool holds all underlying assets for a particular set of programmable derivatives and handles the issuance and burn of all programmable derivatives related to its specific strategy or underlying. The first pool on Plaza holds a Balancer pool token which consists of a mix of Ethereum liquid staking/restaking tokens as the underlying assets, and splits the total return of those ETH-related assets into two products targeted at different investor profiles: bondETH - a stabilized profile that received a coupon in USDC every quarter, and levETH - levered exposure to ETH.
Inherits: Initializable, PausableUpgradeable, ReentrancyGuardUpgradeable, OracleReader, Validator
State Variables
POINT_EIGHT
uint256 private constant POINT_EIGHT = 800000;POINT_TWO
uint256 private constant POINT_TWO = 200000;COLLATERAL_THRESHOLD
uint256 private constant COLLATERAL_THRESHOLD = 1200000;PRECISION
uint256 private constant PRECISION = 1000000;BOND_TARGET_PRICE
uint256 private constant BOND_TARGET_PRICE = 100;COMMON_DECIMALS
uint8 private constant COMMON_DECIMALS = 18;SECONDS_PER_YEAR
uint256 private constant SECONDS_PER_YEAR = 365 days;MIN_LIQUIDATION_THRESHOLD
uint256 private constant MIN_LIQUIDATION_THRESHOLD = 90;poolFactory
Pool factory contract
PoolFactory public poolFactory;fee
Fee amount
uint256 private fee;feeBeneficiary
Fee beneficiary address
address public feeBeneficiary;lastFeeClaimTime
Last fee claim time
uint256 private lastFeeClaimTime;liquidationThreshold
Liquidation threshold denoting the maximum percentage of reserve tokens that can be sold in an auction.
uint256 private liquidationThreshold;reserveToken
Reserve token address
address public reserveToken;bondToken
Bond token contract
BondToken public bondToken;lToken
Leverage token contract
LeverageToken public lToken;couponToken
Coupon token address
address public couponToken;sharesPerToken
Shares per bond token
uint256 private sharesPerToken;distributionPeriod
Distribution period in seconds
uint256 private distributionPeriod;auctionPeriod
Auction period in seconds
uint256 private auctionPeriod;lastDistribution
Last distribution timestamp in seconds
uint256 private lastDistribution;auctions
Mapping to store auction addresses by their index
mapping(uint256 => address) public auctions;Functions
constructor
Note: oz-upgrades-unsafe-allow: constructor
constructor();initialize
Initializes the contract with the given parameters.
function initialize(
address _poolFactory,
uint256 _fee,
address _reserveToken,
address _dToken,
address _lToken,
address _couponToken,
uint256 _sharesPerToken,
uint256 _distributionPeriod,
address _feeBeneficiary,
address _oracleFeeds
) public initializer;Parameters
_poolFactory
address
Address of the pool factory contract.
_fee
uint256
Fee percentage for the pool.
_reserveToken
address
Address of the reserve token.
_dToken
address
Address of the bond token.
_lToken
address
Address of the leverage token.
_couponToken
address
Address of the coupon token.
_sharesPerToken
uint256
Initial shares per bond per distribution period.
_distributionPeriod
uint256
Initial distribution period in seconds.
_feeBeneficiary
address
_oracleFeeds
address
Address of the OracleFeeds contract.
setLiquidationThreshold
Sets the liquidation threshold. Cannot be set below 90%.
function setLiquidationThreshold(uint256 _liquidationThreshold) external onlyRole(poolFactory.GOV_ROLE());Parameters
_liquidationThreshold
uint256
The new liquidation threshold value.
create
Creates new tokens by depositing reserve tokens.
function create(TokenType tokenType, uint256 depositAmount, uint256 minAmount)
external
whenNotPaused
nonReentrant
returns (uint256);Parameters
tokenType
TokenType
The type of token to create (BOND or LEVERAGE).
depositAmount
uint256
The amount of reserve tokens to deposit.
minAmount
uint256
The minimum amount of new tokens to receive.
Returns
<none>
uint256
amount of new tokens created.
create
Creates new tokens by depositing reserve tokens, with additional parameters for deadline and onBehalfOf for router support.
function create(TokenType tokenType, uint256 depositAmount, uint256 minAmount, uint256 deadline, address onBehalfOf)
external
whenNotPaused
nonReentrant
checkDeadline(deadline)
returns (uint256);Parameters
tokenType
TokenType
The type of token to create (BOND or LEVERAGE).
depositAmount
uint256
The amount of reserve tokens to deposit.
minAmount
uint256
The minimum amount of new tokens to receive.
deadline
uint256
The deadline timestamp in seconds for the transaction to be executed.
onBehalfOf
address
The address to receive the new tokens.
Returns
<none>
uint256
The amount of new tokens created.
_create
Creates new tokens by depositing reserve tokens, with additional parameters for deadline and onBehalfOf for router support.
function _create(TokenType tokenType, uint256 depositAmount, uint256 minAmount, address onBehalfOf)
private
returns (uint256);Parameters
tokenType
TokenType
The type of token to create (BOND or LEVERAGE).
depositAmount
uint256
The amount of reserve tokens to deposit.
minAmount
uint256
The minimum amount of new tokens to receive.
onBehalfOf
address
The address to receive the new tokens.
Returns
<none>
uint256
The amount of new tokens created.
simulateCreate
Simulates the creation of new tokens without actually minting them.
function simulateCreate(TokenType tokenType, uint256 depositAmount) public view returns (uint256);Parameters
tokenType
TokenType
The type of token to simulate creating (BOND or LEVERAGE).
depositAmount
uint256
The amount of reserve tokens to simulate depositing.
Returns
<none>
uint256
amount of new tokens that would be created.
getCreateAmount
Calculates the amount of new tokens to create based on the current pool state and oracle price.
function getCreateAmount(
TokenType tokenType,
uint256 depositAmount,
uint256 bondSupply,
uint256 levSupply,
uint256 poolReserves,
uint256 ethPrice,
uint8 oracleDecimals
) public pure returns (uint256);Parameters
tokenType
TokenType
The type of token to create (BOND or LEVERAGE).
depositAmount
uint256
The amount of reserve tokens to deposit.
bondSupply
uint256
The current supply of bond tokens.
levSupply
uint256
The current supply of leverage tokens.
poolReserves
uint256
The current amount of reserve tokens in the pool.
ethPrice
uint256
The current ETH price from the oracle.
oracleDecimals
uint8
The number of decimals used by the oracle.
Returns
<none>
uint256
amount of new tokens to create.
redeem
Redeems tokens for reserve tokens.
function redeem(TokenType tokenType, uint256 depositAmount, uint256 minAmount)
public
whenNotPaused
nonReentrant
returns (uint256);Parameters
tokenType
TokenType
The type of derivative token to redeem (BOND or LEVERAGE).
depositAmount
uint256
The amount of derivative tokens to redeem.
minAmount
uint256
The minimum amount of reserve tokens to receive.
Returns
<none>
uint256
amount of reserve tokens received.
redeem
Redeems tokens for reserve tokens, with additional parameters.
function redeem(TokenType tokenType, uint256 depositAmount, uint256 minAmount, uint256 deadline, address onBehalfOf)
external
whenNotPaused
nonReentrant
checkDeadline(deadline)
returns (uint256);Parameters
tokenType
TokenType
The type of derivative token to redeem (BOND or LEVERAGE).
depositAmount
uint256
The amount of derivative tokens to redeem.
minAmount
uint256
The minimum amount of reserve tokens to receive.
deadline
uint256
The deadline timestamp in seconds for the transaction to be executed.
onBehalfOf
address
The address to receive the reserve tokens.
Returns
<none>
uint256
amount of reserve tokens received.
_redeem
Redeems tokens for reserve tokens, with additional parameters.
function _redeem(TokenType tokenType, uint256 depositAmount, uint256 minAmount, address onBehalfOf)
private
returns (uint256);Parameters
tokenType
TokenType
The type of derivative token to redeem (BOND or LEVERAGE).
depositAmount
uint256
The amount of derivative tokens to redeem.
minAmount
uint256
The minimum amount of reserve tokens to receive.
onBehalfOf
address
The address to receive the reserve tokens.
Returns
<none>
uint256
amount of reserve tokens received.
simulateRedeem
Simulates the redemption of tokens without actually burning them.
function simulateRedeem(TokenType tokenType, uint256 depositAmount) public view returns (uint256);Parameters
tokenType
TokenType
The type of derivative token to simulate redeeming (BOND or LEVERAGE).
depositAmount
uint256
The amount of derivative tokens to simulate redeeming.
Returns
<none>
uint256
amount of reserve tokens that would be received.
getRedeemAmount
Calculates the amount of reserve tokens to be redeemed for a given amount of bond or leverage tokens.
function getRedeemAmount(
TokenType tokenType,
uint256 depositAmount,
uint256 bondSupply,
uint256 levSupply,
uint256 poolReserves,
uint256 ethPrice,
uint8 oracleDecimals
) public pure returns (uint256);Parameters
tokenType
TokenType
The type of derivative token being redeemed (BOND or LEVERAGE).
depositAmount
uint256
The amount of derivative tokens being redeemed.
bondSupply
uint256
The total supply of bond tokens.
levSupply
uint256
The total supply of leverage tokens.
poolReserves
uint256
The total amount of reserve tokens in the pool.
ethPrice
uint256
The current ETH price from the oracle.
oracleDecimals
uint8
The number of decimals used by the oracle.
Returns
<none>
uint256
amount of reserve tokens to be redeemed.
startAuction
Starts an auction for the current period.
function startAuction() external;transferReserveToAuction
Transfers reserve tokens to the current auction.
function transferReserveToAuction(uint256 amount) external virtual;Parameters
amount
uint256
The amount of reserve tokens to transfer.
distribute
Distributes coupon tokens to bond token holders. Can only be called after the distribution period has passed.
function distribute() external whenNotPaused;getPoolInfo
Returns the current pool information.
function getPoolInfo() external view returns (PoolInfo memory info);Returns
info
PoolInfo
A struct containing various pool parameters and balances.
setDistributionPeriod
Sets the distribution period.
function setDistributionPeriod(uint256 _distributionPeriod) external NotInAuction onlyRole(poolFactory.GOV_ROLE());Parameters
_distributionPeriod
uint256
The new distribution period.
setAuctionPeriod
Sets the auction period.
function setAuctionPeriod(uint256 _auctionPeriod) external NotInAuction onlyRole(poolFactory.GOV_ROLE());Parameters
_auctionPeriod
uint256
The new auction period.
setSharesPerToken
Sets the shares per token.
function setSharesPerToken(uint256 _sharesPerToken) external NotInAuction onlyRole(poolFactory.GOV_ROLE());Parameters
_sharesPerToken
uint256
The new shares per token value.
setFee
Sets the fee for the pool.
function setFee(uint256 _fee) external onlyRole(poolFactory.GOV_ROLE());Parameters
_fee
uint256
The new fee value.
setFeeBeneficiary
Sets the fee beneficiary for the pool.
function setFeeBeneficiary(address _feeBeneficiary) external onlyRole(poolFactory.GOV_ROLE());Parameters
_feeBeneficiary
address
The address of the new fee beneficiary.
claimFees
Allows the fee beneficiary to claim the accumulated protocol fees.
function claimFees() public nonReentrant;getFeeAmount
Returns the amount of fees to be claimed.
function getFeeAmount() internal view returns (uint256);Returns
<none>
uint256
The amount of fees to be claimed.
pause
Pauses the contract. Reverts any interaction except upgrade.
function pause() external onlyRole(poolFactory.GOV_ROLE());unpause
Unpauses the contract.
function unpause() external onlyRole(poolFactory.GOV_ROLE());onlyRole
Modifier to check if the caller has the specified role.
modifier onlyRole(bytes32 role);Parameters
role
bytes32
The role to check for.
NotInAuction
Modifier to prevent a function from being called during an ongoing auction.
modifier NotInAuction();Events
SharesPerTokenChanged
Emitted when the shares per token value is changed.
event SharesPerTokenChanged(uint256 sharesPerToken);Parameters
sharesPerToken
uint256
New shares per token value
Distributed
Emitted when the distribution period is over and the shares have been distributed to the distributor.
event Distributed(uint256 amount, address distributor);Parameters
amount
uint256
Amount of distributed tokens
distributor
address
Address of the distributor
AuctionPeriodChanged
Emitted when the auction period is changed.
event AuctionPeriodChanged(uint256 oldPeriod, uint256 newPeriod);Parameters
oldPeriod
uint256
Old auction period
newPeriod
uint256
New auction period
DistributionRollOver
Emitted when the distribution period is rolled over. This happens when the auction did not acquire the required amount of coupon tokens for the corresponding number of underlying assets.
event DistributionRollOver(uint256 period, uint256 sharesPerToken);Parameters
period
uint256
Distribution period
sharesPerToken
uint256
Shares per token
DistributionPeriodChanged
Emitted when the distribution period is changed.
event DistributionPeriodChanged(uint256 oldPeriod, uint256 newPeriod);Parameters
oldPeriod
uint256
Old distribution period
newPeriod
uint256
New distribution period
TokensCreated
Emitted when new Plaza derivatives are created.
event TokensCreated(
address caller, address onBehalfOf, TokenType tokenType, uint256 depositedAmount, uint256 mintedAmount
);Parameters
caller
address
Address of the caller
onBehalfOf
address
Address of the recipient, if not the caller
tokenType
TokenType
Type of the token created
depositedAmount
uint256
Amount of deposited underlying tokens
mintedAmount
uint256
Amount of minted tokens
TokensRedeemed
Emitted when Plaza derivatives are redeemed.
event TokensRedeemed(
address caller, address onBehalfOf, TokenType tokenType, uint256 depositedAmount, uint256 redeemedAmount
);Parameters
caller
address
Address of the caller
onBehalfOf
address
Address of the recipient, if not the caller
tokenType
TokenType
Type of the token to redeem for
depositedAmount
uint256
Amount of deposited underlying tokens
redeemedAmount
uint256
Amount of redeemed tokens
FeeClaimed
Emitted when fees are claimed.
event FeeClaimed(address beneficiary, uint256 amount);Parameters
beneficiary
address
Address of the beneficiary
amount
uint256
Amount of claimed fees
FeeChanged
Emitted when the fee amount is changed.
event FeeChanged(uint256 oldFee, uint256 newFee);Parameters
oldFee
uint256
Old fee value
newFee
uint256
New fee value
LiquidationThresholdChanged
Emitted when the liquidation threshold is changed.
event LiquidationThresholdChanged(uint256 oldThreshold, uint256 newThreshold);Parameters
oldThreshold
uint256
Old liquidation threshold value
newThreshold
uint256
New liquidation threshold value
Errors
MinAmount
Error thrown when amount is below minimum required
error MinAmount();ZeroAmount
Error thrown when amount is zero
error ZeroAmount();FeeTooHigh
Error thrown when fee is set too high
error FeeTooHigh();AccessDenied
Error thrown when caller doesn't have required access
error AccessDenied();NoFeesToClaim
Error thrown when there are no fees to claim
error NoFeesToClaim();NotBeneficiary
Error thrown when caller is not the beneficiary
error NotBeneficiary();ZeroDebtSupply
Error thrown when debt supply is zero
error ZeroDebtSupply();AuctionIsOngoing
Error thrown when auction is currently ongoing
error AuctionIsOngoing();ZeroLeverageSupply
Error thrown when leverage supply is zero
error ZeroLeverageSupply();CallerIsNotAuction
Error thrown when caller is not the auction contract
error CallerIsNotAuction();DistributionPeriod
Error thrown when distribution period is invalid
error DistributionPeriod();AuctionPeriodPassed
Error thrown when auction period has passed
error AuctionPeriodPassed();AuctionNotSucceeded
Error thrown when auction has not succeeded
error AuctionNotSucceeded();AuctionAlreadyStarted
Error thrown when auction has already started
error AuctionAlreadyStarted();LiquidationThresholdTooLow
Error thrown when liquidation threshold is set too low
error LiquidationThresholdTooLow();DistributionPeriodNotPassed
Error thrown when distribution period has not passed yet
error DistributionPeriodNotPassed();Structs
PoolInfo
Struct containing information about the pool's current state.
struct PoolInfo {
uint256 fee;
uint256 reserve;
uint256 bondSupply;
uint256 levSupply;
uint256 sharesPerToken;
uint256 currentPeriod;
uint256 lastDistribution;
uint256 distributionPeriod;
uint256 auctionPeriod;
address feeBeneficiary;
}Enums
TokenType
Enum representing the types of tokens that can be created or redeemed.
enum TokenType {
BOND,
LEVERAGE
}Last updated