RedeemingBondingCurveBase_v1.sol

Git Source

Inherits: IRedeemingBondingCurveBase_v1, BondingCurveBase_v1

Author: Inverter Network

Manages the redemption of issuance for collateral along a bonding curve in the Inverter Network, including fee handling and sell functionality control.

Inherits from {BondingCurveBase_v1}. Extends by providing core functionalities for redeem operations, fee adjustments, and redemption calculations. Fee calculations utilize BPS for precision. Redeem-specific calculations should be implemented in derived contracts.

State Variables

sellIsOpen

Indicates whether the sell functionality is open or not. Enabled = true || disabled = false.

bool public sellIsOpen;

sellFee

Sell fee expressed in base points, i.e. 0% = 0; 1% = 100; 10% = 1000.

uint public sellFee;

__gap

Storage gap for future upgrades.

uint[50] private __gap;

Functions

supportsInterface

See {IERC165-supportsInterface}.

function supportsInterface(bytes4 interfaceId)
    public
    view
    virtual
    override(BondingCurveBase_v1)
    returns (bool);

sellingIsEnabled

Modifier to guarantee the selling functionality is enabled.

modifier sellingIsEnabled();

sellTo

Redeem tokens and directs the proceeds to a specified receiver address.

Executes a sell order, with the proceeds being sent directly to the _receiver's address. This function wraps the _sellOrder internal function with specified parameters to handle the transaction and direct the proceeds.

function sellTo(address _receiver, uint _depositAmount, uint _minAmountOut)
    public
    virtual
    sellingIsEnabled
    validReceiver(_receiver);

Parameters

Name	Type	Description
_receiver	address	The address that will receive the redeemed tokens.
_depositAmount	uint256	The amount of tokens to be sold.
_minAmountOut	uint256	The minimum acceptable amount of proceeds that the receiver should receive from the sale.

sell

Redeem collateral for the sender's address.

Redirects to the internal function _sellOrder by passing the sender's address and deposit amount.

function sell(uint _depositAmount, uint _minAmountOut) public virtual;

Parameters

Name	Type	Description
_depositAmount	uint256	The amount of issued token deposited.
_minAmountOut	uint256	The minimum acceptable amount the user expects to receive from the transaction.

openSell

Opens the selling functionality for the collateral.

Only callable by the {Orchestrator_v1} admin. Reverts if selling is already open.

function openSell() external virtual onlyOrchestratorAdmin;

closeSell

Closes the selling functionality for the collateral.

Only callable by the {Orchestrator_v1} admin. Reverts if selling is already closed.

function closeSell() external virtual onlyOrchestratorAdmin;

setSellFee

Sets the fee percentage for selling collateral, payed in collateral.

Only callable by the {Orchestrator_v1} admin. The fee cannot exceed 10000 basis points. Reverts if an invalid fee is provided.

function setSellFee(uint _fee) external virtual onlyOrchestratorAdmin;

Parameters

Name	Type	Description
_fee	uint256	The fee in basis points.

calculateSaleReturn

Calculates the amount of tokens to be redeemed based on a given deposit amount.

This function takes into account any applicable sell fees before computing the collateral amount to be redeemed. Revert when _depositAmount is zero.

function calculateSaleReturn(uint _depositAmount)
    public
    view
    virtual
    returns (uint redeemAmount);

Parameters

Name	Type	Description
_depositAmount	uint256	The amount of tokens deposited by the user.

Returns

Name	Type	Description
redeemAmount	uint256	The amount of collateral that will be redeemed as a result of the deposit.

getStaticPriceForSelling

Calculates and returns the static price for selling the issuance token.

function getStaticPriceForSelling() external view virtual returns (uint);

Returns

Name	Type	Description
<none>	uint256	uint The static price for selling the issuance token.

_redeemTokensFormulaWrapper

Function used for wrapping the call to the external contract responsible for calculating the redeeming amount. This function is an abstract function and must be implemented in the downstream contract.

function _redeemTokensFormulaWrapper(uint _depositAmount)
    internal
    view
    virtual
    returns (uint);

Parameters

Name	Type	Description
_depositAmount	uint256	The amount of issuing token that is deposited.

Returns

Name	Type	Description
<none>	uint256	uint Return the amount of collateral to be redeemed.

_sellOrder

Executes a sell order by transferring tokens from the receiver to the contract,. calculating the redeem amount, and finally transferring the redeem amount back to the receiver. This function is internal and not intended for end-user interaction. PLEASE NOTE: The current implementation only requires that enough collateral token is held for redeeming to be possible. No further functionality is implemented which would manages the outflow of collateral, e.g., restricting max redeemable amount per user, or a redeemable amount which differes from the actual balance. Throws an exception if _depositAmount is zero or if there's insufficient collateral in the contract for redemption.

function _sellOrder(address _receiver, uint _depositAmount, uint _minAmountOut)
    internal
    returns (uint totalCollateralTokenMovedOut, uint issuanceFeeAmount);

Parameters

Name	Type	Description
_receiver	address	The address receiving the redeem amount.
_depositAmount	uint256	The amount of tokens being sold by the receiver.
_minAmountOut	uint256	The minimum acceptable amount the user expects to receive from the transaction.

Returns

Name	Type	Description
totalCollateralTokenMovedOut	uint256	The total amount of collateral tokens that are transfered away from the collateral token amount of this contract.
issuanceFeeAmount	uint256	The amount of issuance token subtracted as fee.

_handleCollateralTokensAfterSell

Virtual function to handle collateral tokens after a successful sell.

The downstream contract is responsible for implementing checks to ensure the contract has the right balance.

function _handleCollateralTokensAfterSell(
    address _receiver,
    uint _collateralTokenAmount
) internal virtual;

Parameters

Name	Type	Description
_receiver	address	The address for which the collateral tokens will be handled.
_collateralTokenAmount	uint256	The amount of collateral tokens to handle.

_sellingIsEnabledModifier

Checks if the sell functionality is enabled.

function _sellingIsEnabledModifier() internal view;

_setSellFee

Sets the sell transaction fee, expressed in BPS.

function _setSellFee(uint _fee) internal virtual;

Parameters

Name	Type	Description
_fee	uint256	The fee percentage to set for sell transactions.