2023-10-11 Goerli Spell

archive/2023-10-11-DssSpell/DssSpell.sol

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+// 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";
+
+interface VatLike {
+    function Line() external view returns (uint256);
+    function ilks(bytes32 ilk) external view returns (uint256 Art, uint256 rate, uint256 spot, uint256 line, uint256 dust);
+}
+
+interface RwaLiquidationLike {
+    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;
+    }
+
+    // ----- USDP-PSM Facilitation Incentives -----
+    // Forum: https://forum.makerdao.com/t/usdp-psm-facilitation-incentives/22331
+    // Approve DAO Resolution hash QmWg43PNNGfEyXnTv1qN8dRXFJz5ZchrmZU8qH57Ki6D62
+
+    // Comma-separated list of DAO resolutions IPFS hashes.
+    string public constant dao_resolutions = "QmWg43PNNGfEyXnTv1qN8dRXFJz5ZchrmZU8qH57Ki6D62";
+
+    // ---------- 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_PCT_RATE                = 1000000001547125957863212448;
+    uint256 internal constant FIVE_PT_TWO_FIVE_PCT_RATE    = 1000000001622535724756171269;
+    uint256 internal constant FIVE_PT_SIX_ONE_PCT_RATE     = 1000000001730811701469052906;
+    uint256 internal constant FIVE_PT_SEVEN_FIVE_PCT_RATE  = 1000000001772819380639683201;
+    uint256 internal constant FIVE_PT_EIGHT_SIX_PCT_RATE   = 1000000001805786418479434295;
+    uint256 internal constant SIX_PT_THREE_SIX_PCT_RATE    = 1000000001955206127822364746;
+
+    //  ---------- Math ----------
+    uint256 internal constant WAD      = 10 ** 18;
+    uint256 internal constant MILLION  = 10 ** 6;
+    uint256 internal constant BILLION  = 10 ** 9;
+
+    address internal immutable MCD_VAT = DssExecLib.vat();
+    address internal immutable MIP21_LIQUIDATION_ORACLE = DssExecLib.getChangelogAddress("MIP21_LIQUIDATION_ORACLE");
+
+    function actions() public override {
+        // ---------- Non-Scope Defined Parameter Changes - WBTC DC-IAM Changes ----------
+        // Forum: https://forum.makerdao.com/t/stability-scope-parameter-changes-6/22231
+        // Poll: https://vote.makerdao.com/polling/QmNty2pa#poll-detail
+
+        // Reduce the WBTC-A DC-IAM Target Available Debt from 10 million DAI to 2 million DAI.
+        DssExecLib.setIlkAutoLineParameters("WBTC-A", /* line = */ 500 * MILLION, /* gap = */ 2 * MILLION, /* ttl = */ 24 hours);
+
+        // Reduce the WBTC-B DC-IAM Target Available Debt from 5 million DAI to 2 million DAI.
+        DssExecLib.setIlkAutoLineParameters("WBTC-B", /* line = */ 250 * MILLION, /* gap = */ 2 * MILLION, /* ttl = */ 24 hours);
+
+        // Reduce the WBTC-C DC-IAM Target Available Debt from 10 million DAI to 2 million DAI.
+        DssExecLib.setIlkAutoLineParameters("WBTC-C", /* line = */ 500 * MILLION, /* gap = */ 2 * MILLION, /* ttl = */ 24 hours);
+
+
+        // ---------- Stability Fee Changes ----------
+        // Forum: https://forum.makerdao.com/t/stability-scope-parameter-changes-6/22231
+
+        // Increase the ETH-A Stability Fee (SF) by 1.55%, from 3.70% to 5.25%.
+        DssExecLib.setIlkStabilityFee("ETH-A", FIVE_PT_TWO_FIVE_PCT_RATE, /* doDrip = */ true);
+
+        // Increase the ETH-B Stability Fee (SF) by 1.55%, from 4.20% to 5.75%.
+        DssExecLib.setIlkStabilityFee("ETH-B", FIVE_PT_SEVEN_FIVE_PCT_RATE, /* doDrip = */ true);
+
+        // Increase the ETH-C Stability Fee (SF) by 1.55%, from 3.45% to 5.00%.
+        DssExecLib.setIlkStabilityFee("ETH-C", FIVE_PCT_RATE, /* doDrip = */ true);
+
+        // Increase WBTC-A Stability Fee (SF) by 0.06%, from 5.8% to 5.86%
+        DssExecLib.setIlkStabilityFee("WBTC-A", FIVE_PT_EIGHT_SIX_PCT_RATE, /* doDrip = */ true);
+
+        // Increase WBTC-B Stability Fee (SF) by 0.06%, from 6.3% to 6.36%
+        DssExecLib.setIlkStabilityFee("WBTC-B", SIX_PT_THREE_SIX_PCT_RATE, /* doDrip = */ true);
+
+        // Increase WBTC-C Stability Fee (SF) by 0.06%, from 5.55% to 5.61%
+        DssExecLib.setIlkStabilityFee("WBTC-C", FIVE_PT_SIX_ONE_PCT_RATE, /* doDrip = */ true);
+
+
+        // ---------- Initial RETH-A Offboarding  ----------
+        // Forum: https://forum.makerdao.com/t/stability-scope-parameter-changes-6/22231
+
+        // Set DC to 0.
+        (,,,uint256 line,) = VatLike(MCD_VAT).ilks("RETH-A");
+        DssExecLib.removeIlkFromAutoLine("RETH-A");
+        DssExecLib.setValue(MCD_VAT, "RETH-A", "line", 0);
+        // NOTE: decreasing global line using the low level API because of precision loss when using DssExecLib
+        DssExecLib.setValue(MCD_VAT, "Line", VatLike(MCD_VAT).Line() - line);
+
+
+        // ---------- Reconfiguring Andromeda RWA015-A  ----------
+        // Forum: https://forum.makerdao.com/t/poll-request-reconfiguring-rwa-allocator-vaults/22159
+        // Poll: https://vote.makerdao.com/polling/QmPoLbah
+
+        // Set the Maximum Debt Ceiling (line) to 3 billion DAI.
+        DssExecLib.setIlkAutoLineDebtCeiling("RWA015-A", 3 * BILLION);
+
+        // Bump Oracle price to account for new DC and SF
+        // NOTE: the formula is `Debt ceiling * [ (1 + RWA stability fee ) ^ (minimum deal duration in years) ] * liquidation ratio`
+        // NOTE: As we have SF 0 for this deal, this should be equal to ilk DC
+        RwaLiquidationLike(MIP21_LIQUIDATION_ORACLE).bump(
+            "RWA015-A",
+            3 * BILLION * WAD
+        );
+
+        // NOTE: Update collateral price to propagate the changes
+        DssExecLib.updateCollateralPrice("RWA015-A");
+
+
+        // ---------- Reconfiguring Clydesdale RWA007-A  ----------
+        // Forum: https://forum.makerdao.com/t/poll-request-reconfiguring-rwa-allocator-vaults/22159
+        // Poll: https://vote.makerdao.com/polling/QmPoLbah
+
+        // Reactivate the Debt Ceiling Instant Access Module for this vault type.
+        // Set the Maximum Debt Ceiling (line) to 3 billion DAI.
+        // Set the Target Available Debt (gap) to 50 million DAI.
+        // Set the Ceiling Increase Cooldown (ttl) to 86400 (24 hours).
+        DssExecLib.setIlkAutoLineParameters("RWA007-A", /* line = */ 3 * BILLION, /* gap = */ 50 * MILLION, /* ttl = */ 24 hours);
+
+        // Bump Oracle price to account for new DC and SF
+        // NOTE: the formula is `Debt ceiling * [ (1 + RWA stability fee ) ^ (minimum deal duration in years) ] * liquidation ratio`
+        // NOTE: As we have SF 0 for this deal, this should be equal to ilk DC
+        RwaLiquidationLike(MIP21_LIQUIDATION_ORACLE).bump(
+            "RWA007-A",
+            3 * BILLION * WAD
+        );
+
+        // NOTE: Update collateral price to propagate the changes
+        DssExecLib.updateCollateralPrice("RWA007-A");
+
+        // ---------- Set up Governance Facilitator Streams  ----------
+        // Forum: https://forum.makerdao.com/t/mip102c2-sp16-mip-amendment-subproposal/21579
+        // Poll: https://vote.makerdao.com/polling/QmSovaxn
+        // NOTE: Skip on goerli
+
+        // JanSky | 2023-10-01 00:00:00 to 2024-09-30 23:59:59 | 504,000.00 DAI | 0xf3F868534FAD48EF5a228Fe78669cf242745a755
+        // VoteWizard | 2023-10-01 00:00:00 to 2024-09-30 23:59:59 | 504,000.00 DAI | 0x9E72629dF4fcaA2c2F5813FbbDc55064345431b1
+        // JanSky | 2023-10-01 00:00:00 to 2024-09-30 23:59:59 | 216.00 MKR | 0xf3F868534FAD48EF5a228Fe78669cf242745a755
+        // VoteWizard | 2023-10-01 00:00:00 to 2024-09-30 23:59:59 | 216.00 MKR | 0x9E72629dF4fcaA2c2F5813FbbDc55064345431b1
+
+
+        // ---------- BA Labs MKR Distribution  ----------
+        // Forum: https://forum.makerdao.com/t/mip40c3-sp25-risk-core-unit-mkr-compensation-risk-001/9788
+        // Poll: https://vote.makerdao.com/polling/QmUAXKm4
+        // NOTE: Skip on goerli
+
+        // BA Labs - 175 MKR - 0x5d67d5B1fC7EF4bfF31967bE2D2d7b9323c1521c
+
+        // ---------- AVC Member Compensation  ----------
+        // Forum: https://forum.makerdao.com/t/avc-member-participation-rewards-q3-2023/22349
+        // Poll: https://vote.makerdao.com/polling/QmSovaxn#poll-detail
+        // NOTE: Skip on goerli
+
+        // opensky - 20.85 MKR - 0x8e67ee3bbeb1743dc63093af493f67c3c23c6f04
+        // DAI-Vinci - 12.51 MKR - 0x9ee47F0f82F1A6F45C4E1D25Ce95C321D8C8356a
+        // IamMeeoh - 20.85 MKR - 0x47f7A5d8D27f259582097E1eE59a07a816982AE9
+        // ACRE DAOs - 20.85 MKR - 0xBF9226345F601150F64Ea4fEaAE7E40530763cbd
+        // Harmony - 20.85 MKR - 0xE20A2e231215e9b7Aa308463F1A7490b2ECE55D3
+        // Res - 20.85 MKR - 0x8c5c8d76372954922400e4654AF7694e158AB784
+        // seedlatam.eth - 20.85 MKR - 0x0087a081a9b430fd8f688c6ac5dd24421bfb060d
+    }
+}
+
+contract DssSpell is DssExec {
+    constructor() DssExec(block.timestamp + 30 days, address(new DssSpellAction())) {}
+}