2023-11-29 Goerli Spell (#236)

archive/2023-11-29-DssSpell/DssSpell.sol

@@ -0,0 +1,145 @@
+// SPDX-FileCopyrightText: © 2020 Dai Foundation <www.daifoundation.org>
+// SPDX-License-Identifier: AGPL-3.0-or-later
+//
+// This program is free software: you can redistribute it and/or modify
+// it under the terms of the GNU Affero General Public License as published by
+// the Free Software Foundation, either version 3 of the License, or
+// (at your option) any later version.
+//
+// This program is distributed in the hope that it will be useful,
+// but WITHOUT ANY WARRANTY; without even the implied warranty of
+// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+// GNU Affero General Public License for more details.
+//
+// You should have received a copy of the GNU Affero General Public License
+// along with this program.  If not, see <https://www.gnu.org/licenses/>.
+
+pragma solidity 0.8.16;
+
+import "dss-exec-lib/DssExec.sol";
+import "dss-exec-lib/DssAction.sol";
+import { VatAbstract } from "dss-interfaces/dss/VatAbstract.sol";
+
+interface RwaLiquidationOracleLike {
+    function bump(bytes32 ilk, uint256 val) external;
+}
+
+contract DssSpellAction is DssAction {
+    // Provides a descriptive tag for bot consumption
+    string public constant override description = "Goerli Spell";
+
+    // Always keep office hours off on goerli
+    function officeHours() public pure override returns (bool) {
+        return false;
+    }
+
+    // ---------- RWA Foundation Service Provider Changes ----------
+    // Forum: https://forum.makerdao.com/t/dao-resolution-rwa-foundation-service-provider-changes/22866/2
+
+    // Approve Dao resolution with IPFS hash QmPiEHtt8rkVtSibBXMrhEzHUmSriXWz4AL2bjscq8dUvU
+    // Note: by the previous convention it is comma-separated list of DAO resolutions IPFS hashes
+    string public constant dao_resolutions = "QmPiEHtt8rkVtSibBXMrhEzHUmSriXWz4AL2bjscq8dUvU";
+
+    // ---------- Rates ----------
+    // Many of the settings that change weekly rely on the rate accumulator
+    // described at https://docs.makerdao.com/smart-contract-modules/rates-module
+    // To check this yourself, use the following rate calculation (example 8%):
+    //
+    // $ bc -l <<< 'scale=27; e( l(1.08)/(60 * 60 * 24 * 365) )'
+    //
+    // A table of rates can be found at
+    //    https://ipfs.io/ipfs/QmVp4mhhbwWGTfbh2BzwQB9eiBrQBKiqcPRZCaAxNUaar6
+    //
+    // uint256 internal constant X_PCT_RATE = ;
+    uint256 internal constant FIVE_PT_FIVE_FOUR_PCT_RATE  = 1000000001709786974743980088;
+    uint256 internal constant FIVE_PT_SEVEN_NINE_PCT_RATE = 1000000001784811360376128985;
+    uint256 internal constant SIX_PT_TWO_NINE_PCT_RATE    = 1000000001934329706253075715;
+
+    // ---------- Math ----------
+    uint256 internal constant THOUSAND = 10 ** 3;
+    uint256 internal constant MILLION  = 10 ** 6;
+    uint256 internal constant BILLION  = 10 ** 9;
+    uint256 internal constant WAD      = 10 ** 18;
+    uint256 internal constant RAD      = 10 ** 45;
+
+    // ---------- SBE parameter changes ----------
+    address internal immutable MCD_VOW            = DssExecLib.vow();
+    address internal immutable MCD_FLAP           = DssExecLib.flap();
+
+    // ---------- Reduce PSM-GUSD-A Debt Ceiling ----------
+    VatAbstract internal immutable vat            = VatAbstract(DssExecLib.vat());
+
+    // ---------- Increase RWA014-A (Coinbase Custody) Debt Ceiling ----------
+    address internal immutable MIP21_LIQUIDATION_ORACLE = DssExecLib.getChangelogAddress("MIP21_LIQUIDATION_ORACLE");
+
+    function actions() public override {
+        // ---------- Stability Fee Changes ----------
+        // Forum: https://forum.makerdao.com/t/stability-scope-parameter-changes-7/22882/2
+
+        // Decrease the WBTC-A Stability Fee (SF) by 0.07%, from 5.86% to 5.79%
+        DssExecLib.setIlkStabilityFee("WBTC-A", FIVE_PT_SEVEN_NINE_PCT_RATE, /* doDrip = */ true);
+
+        // Decrease the WBTC-B Stability Fee (SF) by 0.07%, from 6.36% to 6.29%
+        DssExecLib.setIlkStabilityFee("WBTC-B", SIX_PT_TWO_NINE_PCT_RATE, /* doDrip = */ true);
+
+        // Decrease the WBTC-C Stability Fee (SF) by 0.07%, from 5.61% to 5.54%
+        DssExecLib.setIlkStabilityFee("WBTC-C", FIVE_PT_FIVE_FOUR_PCT_RATE, /* doDrip = */ true);
+
+        // ---------- Reduce PSM-GUSD-A Debt Ceiling ----------
+        // Forum: https://forum.makerdao.com/t/stability-scope-parameter-changes-7/22882/2
+
+        // Note: record currently set debt ceiling for PSM-GUSD-A
+        (,,,uint256 lineReduction,) = vat.ilks("PSM-GUSD-A");
+
+        // Remove PSM-GUSD-A from `Autoline`
+        DssExecLib.removeIlkFromAutoLine("PSM-GUSD-A");
+
+        // Set PSM-GUSD-A debt ceiling to 0
+        DssExecLib.setIlkDebtCeiling("PSM-GUSD-A", 0);
+
+        // Reduce Global Debt Ceiling? Yes
+        vat.file("Line", vat.Line() - lineReduction);
+
+        // ---------- Increase RWA014-A (Coinbase Custody) Debt Ceiling ----------
+        // Forum: https://forum.makerdao.com/t/stability-scope-parameter-changes-7/22882/2
+
+        // Increase the RWA014-A (Coinbase Custody) debt ceiling by 1b DAI, from 500M to 1.5b
+        DssExecLib.increaseIlkDebtCeiling("RWA014-A", 1 * BILLION, /* global = */ true);
+
+        // Note: we have to bump the oracle price to account for the new DC
+        // Note: the formula is `Debt ceiling * [ (1 + RWA stability fee ) ^ (minimum deal duration in years) ] * liquidation ratio`
+        // Note: as stability fee is 0 for this deal, this should be equal to ilk DC
+        RwaLiquidationOracleLike(MIP21_LIQUIDATION_ORACLE).bump(
+            "RWA014-A",
+            1_500 * MILLION * WAD
+        );
+
+        // Note: we have to update collateral price to propagate the changes
+        DssExecLib.updateCollateralPrice("RWA014-A");
+
+        // ---------- SBE parameter changes ----------
+        // Forum: https://forum.makerdao.com/t/smart-burn-engine-transaction-analysis-parameter-reconfiguration-update-3/22876
+
+        // Increase bump by 10,000, from 20,000 to 30,000
+        DssExecLib.setValue(MCD_VOW, "bump", 30 * THOUSAND * RAD);
+
+        // Increase hop by 9,460, from 6,308 to 15,768
+        DssExecLib.setValue(MCD_FLAP, "hop", 15_768);
+
+        // ---------- Andromeda Legal Expenses ----------
+        // Forum: https://forum.makerdao.com/t/project-andromeda-legal-expenses-ii/22577/4
+
+        // Transfer 201,738 Dai to 0xc4dB894A11B1eACE4CDb794d0753A3cB7A633767
+        // Note: payments are skipped on goerli
+
+        // ---------- Trigger Spark Proxy Spell ----------
+        // Forum: https://forum.makerdao.com/t/accounting-discrepancy-in-the-dai-market/22845/2
+
+        // Mainnet - 0x68a075249fA77173b8d1B92750c9920423997e2B
+        // Note: skipped on goerli as spark spell is only deployed to mainnet
+    }
+}
+
+contract DssSpell is DssExec {
+    constructor() DssExec(block.timestamp + 30 days, address(new DssSpellAction())) {}
+}