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add october 17th, 2024 spell and tests #55
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d933907
add october 17th, 2024 spell and tests
0xShaito b21c923
code linting
0xShaito d8c0b81
code ordering
0xShaito e7ac840
cleanup of unused code
0xShaito b21cb89
remove susds transfer
0xShaito ed88f93
update diff file
0xShaito 2fc2bd8
test price increase for pendle token
0xShaito c26fa0f
deploy new spell with cancun flag
0xShaito e0a8433
price on maturity stays at 1
0xShaito b0b0315
evm version paris deployment
0xShaito 2aa62de
update pt prices
0xShaito b3ecb90
better comment
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...6BE987-pre_20241017-Ethereum-0xC13e21B648A5Ee794902342038FF3aDAB66BE987-post.md
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,190 @@ | ||
| ## Reserve changes | ||
|
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||
| ### Reserves added | ||
|
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||
| #### sUSDS ([0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD](https://etherscan.io/address/0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD)) | ||
|
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||
| | description | value | | ||
| | --- | --- | | ||
| | decimals | 18 | | ||
| | isActive | true | | ||
| | isFrozen | false | | ||
| | supplyCap | 50,000,000 sUSDS | | ||
| | borrowCap | 0 sUSDS | | ||
| | debtCeiling | 0 $ | | ||
| | isSiloed | false | | ||
| | isFlashloanable | false | | ||
| | eModeCategory | 0 | | ||
| | oracle | [0x27f3A665c75aFdf43CfbF6B3A859B698f46ef656](https://etherscan.io/address/0x27f3A665c75aFdf43CfbF6B3A859B698f46ef656) | | ||
| | oracleLatestAnswer | 100,362,036 | | ||
| | usageAsCollateralEnabled | true | | ||
| | ltv | 79 % | | ||
| | liquidationThreshold | 80 % | | ||
| | liquidationBonus | 5 % | | ||
| | liquidationProtocolFee | 10 % | | ||
| | reserveFactor | 10 % | | ||
| | aToken | [0x6715bc100A183cc65502F05845b589c1919ca3d3](https://etherscan.io/address/0x6715bc100A183cc65502F05845b589c1919ca3d3) | | ||
| | aTokenImpl | [0x6175ddEc3B9b38c88157C10A01ed4A3fa8639cC6](https://etherscan.io/address/0x6175ddEc3B9b38c88157C10A01ed4A3fa8639cC6) | | ||
| | variableDebtToken | [0x4e89b83f426fED3f2EF7Bb2d7eb5b53e288e1A13](https://etherscan.io/address/0x4e89b83f426fED3f2EF7Bb2d7eb5b53e288e1A13) | | ||
| | variableDebtTokenImpl | [0x86C71796CcDB31c3997F8Ec5C2E3dB3e9e40b985](https://etherscan.io/address/0x86C71796CcDB31c3997F8Ec5C2E3dB3e9e40b985) | | ||
| | stableDebtToken | [0x55580770e14E008082aB2E8d08a16Cc1dC192741](https://etherscan.io/address/0x55580770e14E008082aB2E8d08a16Cc1dC192741) | | ||
| | stableDebtTokenImpl | [0x026a5B6114431d8F3eF2fA0E1B2EDdDccA9c540E](https://etherscan.io/address/0x026a5B6114431d8F3eF2fA0E1B2EDdDccA9c540E) | | ||
| | borrowingEnabled | false | | ||
| | stableBorrowRateEnabled | false | | ||
| | isBorrowableInIsolation | false | | ||
| | interestRateStrategy | [0xa8632b2f0A3C5327a77ee51a47A168B6490A7178](https://etherscan.io/address/0xa8632b2f0A3C5327a77ee51a47A168B6490A7178) | | ||
| | aTokenName | Spark sUSDS | | ||
| | aTokenSymbol | spsUSDS | | ||
| | borrowCapGap | 0 | | ||
| | borrowCapIncreaseCooldown | 0 | | ||
| | isPaused | false | | ||
| | maxBorrowCap | 0 | | ||
| | maxSupplyCap | 500,000,000 | | ||
| | stableDebtTokenName | Spark Stable Debt sUSDS | | ||
| | stableDebtTokenSymbol | stableDebtsUSDS | | ||
| | supplyCapGap | 50,000,000 | | ||
| | supplyCapIncreaseCooldown | 43,200 | | ||
| | variableDebtTokenName | Spark Variable Debt sUSDS | | ||
| | variableDebtTokenSymbol | variableDebtsUSDS | | ||
| | optimalUsageRatio | 80 % | | ||
| | maxExcessUsageRatio | 20 % | | ||
| | baseVariableBorrowRate | 0 % | | ||
| | variableRateSlope1 | 2 % | | ||
| | variableRateSlope2 | 300 % | | ||
| | baseStableBorrowRate | 2 % | | ||
| | stableRateSlope1 | 0 % | | ||
| | stableRateSlope2 | 0 % | | ||
| | optimalStableToTotalDebtRatio | 0 % | | ||
| | maxExcessStableToTotalDebtRatio | 100 % | | ||
|
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||
|
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| ### Reserve altered | ||
|
|
||
| #### WBTC ([0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599](https://etherscan.io/address/0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599)) | ||
|
|
||
| | description | value before | value after | | ||
| | --- | --- | --- | | ||
| | liquidationThreshold | 75 % | 70 % | | ||
| | liquidationProtocolFee | 10 % | 0 % | | ||
| | borrowCapGap | 100 | 1 | | ||
| | maxBorrowCap | 2,000 | 1 | | ||
| | maxSupplyCap | 10,000 | 5,000 | | ||
| | supplyCapGap | 500 | 200 | | ||
|
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||
|
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||
| #### sDAI ([0x83F20F44975D03b1b09e64809B757c47f942BEeA](https://etherscan.io/address/0x83F20F44975D03b1b09e64809B757c47f942BEeA)) | ||
|
|
||
| | description | value before | value after | | ||
| | --- | --- | --- | | ||
| | oracle | [0xb9E6DBFa4De19CCed908BcbFe1d015190678AB5f](https://etherscan.io/address/0xb9E6DBFa4De19CCed908BcbFe1d015190678AB5f) | [0x0c0864837C7e65458aCD3C665222203217019436](https://etherscan.io/address/0x0c0864837C7e65458aCD3C665222203217019436) | | ||
| | oracleLatestAnswer | 111,215,106 | 111,239,740 | | ||
|
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||
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| ## Raw diff | ||
|
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||
| ```json | ||
| { | ||
| "reserves": { | ||
| "0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599": { | ||
| "borrowCapGap": { | ||
| "from": 100, | ||
| "to": 1 | ||
| }, | ||
| "liquidationProtocolFee": { | ||
| "from": 1000, | ||
| "to": 0 | ||
| }, | ||
| "liquidationThreshold": { | ||
| "from": 7500, | ||
| "to": 7000 | ||
| }, | ||
| "maxBorrowCap": { | ||
| "from": 2000, | ||
| "to": 1 | ||
| }, | ||
| "maxSupplyCap": { | ||
| "from": 10000, | ||
| "to": 5000 | ||
| }, | ||
| "supplyCapGap": { | ||
| "from": 500, | ||
| "to": 200 | ||
| } | ||
| }, | ||
| "0x83F20F44975D03b1b09e64809B757c47f942BEeA": { | ||
| "oracle": { | ||
| "from": "0xb9E6DBFa4De19CCed908BcbFe1d015190678AB5f", | ||
| "to": "0x0c0864837C7e65458aCD3C665222203217019436" | ||
| }, | ||
| "oracleLatestAnswer": { | ||
| "from": 111215106, | ||
| "to": 111239740 | ||
| } | ||
| }, | ||
| "0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD": { | ||
| "from": null, | ||
| "to": { | ||
| "aToken": "0x6715bc100A183cc65502F05845b589c1919ca3d3", | ||
| "aTokenImpl": "0x6175ddEc3B9b38c88157C10A01ed4A3fa8639cC6", | ||
| "aTokenName": "Spark sUSDS", | ||
| "aTokenSymbol": "spsUSDS", | ||
| "borrowCap": 0, | ||
| "borrowCapGap": 0, | ||
| "borrowCapIncreaseCooldown": 0, | ||
| "borrowingEnabled": false, | ||
| "debtCeiling": 0, | ||
| "decimals": 18, | ||
| "eModeCategory": 0, | ||
| "interestRateStrategy": "0xa8632b2f0A3C5327a77ee51a47A168B6490A7178", | ||
| "isActive": true, | ||
| "isBorrowableInIsolation": false, | ||
| "isFlashloanable": false, | ||
| "isFrozen": false, | ||
| "isPaused": false, | ||
| "isSiloed": false, | ||
| "liquidationBonus": 10500, | ||
| "liquidationProtocolFee": 1000, | ||
| "liquidationThreshold": 8000, | ||
| "ltv": 7900, | ||
| "maxBorrowCap": 0, | ||
| "maxSupplyCap": 500000000, | ||
| "oracle": "0x27f3A665c75aFdf43CfbF6B3A859B698f46ef656", | ||
| "oracleLatestAnswer": 100362036, | ||
| "reserveFactor": 1000, | ||
| "stableBorrowRateEnabled": false, | ||
| "stableDebtToken": "0x55580770e14E008082aB2E8d08a16Cc1dC192741", | ||
| "stableDebtTokenImpl": "0x026a5B6114431d8F3eF2fA0E1B2EDdDccA9c540E", | ||
| "stableDebtTokenName": "Spark Stable Debt sUSDS", | ||
| "stableDebtTokenSymbol": "stableDebtsUSDS", | ||
| "supplyCap": 50000000, | ||
| "supplyCapGap": 50000000, | ||
| "supplyCapIncreaseCooldown": 43200, | ||
| "symbol": "sUSDS", | ||
| "underlying": "0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD", | ||
| "usageAsCollateralEnabled": true, | ||
| "variableDebtToken": "0x4e89b83f426fED3f2EF7Bb2d7eb5b53e288e1A13", | ||
| "variableDebtTokenImpl": "0x86C71796CcDB31c3997F8Ec5C2E3dB3e9e40b985", | ||
| "variableDebtTokenName": "Spark Variable Debt sUSDS", | ||
| "variableDebtTokenSymbol": "variableDebtsUSDS" | ||
| } | ||
| } | ||
| }, | ||
| "strategies": { | ||
| "0xa8632b2f0A3C5327a77ee51a47A168B6490A7178": { | ||
| "from": null, | ||
| "to": { | ||
| "baseStableBorrowRate": "20000000000000000000000000", | ||
| "baseVariableBorrowRate": "0", | ||
| "maxExcessStableToTotalDebtRatio": "1000000000000000000000000000", | ||
| "maxExcessUsageRatio": "200000000000000000000000000", | ||
| "optimalStableToTotalDebtRatio": "0", | ||
| "optimalUsageRatio": "800000000000000000000000000", | ||
| "stableRateSlope1": "0", | ||
| "stableRateSlope2": "0", | ||
| "variableRateSlope1": "20000000000000000000000000", | ||
| "variableRateSlope2": "3000000000000000000000000000" | ||
| } | ||
| } | ||
| } | ||
| } | ||
| ``` |
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,160 @@ | ||
| // SPDX-License-Identifier: AGPL-3.0 | ||
| pragma solidity ^0.8.10; | ||
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| import { IERC20 } from "forge-std/interfaces/IERC20.sol"; | ||
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| import { Ethereum, SparkPayloadEthereum, IEngine, Rates, EngineFlags } from 'src/SparkPayloadEthereum.sol'; | ||
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| import { ICapAutomator } from "lib/sparklend-cap-automator/src/interfaces/ICapAutomator.sol"; | ||
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| import { IMetaMorpho, MarketParams } from 'lib/metamorpho/src/interfaces/IMetaMorpho.sol'; | ||
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| /** | ||
| * @title Oct 17, 2024 Spark Ethereum Proposal | ||
| * @notice onboard sUSDS | ||
| * Update Oracle for sDAI | ||
| * Onboard Pendle sUSDe PTs to Morpho Spark DAI Vault | ||
| * WBTC Changes | ||
| * @author Phoenix Labs | ||
| * Forum: https://forum.sky.money/t/oct-3-2024-proposed-changes-to-spark-for-upcoming-spell/25293 | ||
| * Vote: https://vote.makerdao.com/polling/QmbHaA2G | ||
| * https://vote.makerdao.com/polling/QmShWccA | ||
| * https://vote.makerdao.com/polling/QmTksxrr | ||
| * https://vote.makerdao.com/polling/QmSiQVWm | ||
| */ | ||
| contract SparkEthereum_20241017 is SparkPayloadEthereum { | ||
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| address internal constant SUSDS = 0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD; | ||
| address internal constant SUSDS_PRICE_FEED = 0x27f3A665c75aFdf43CfbF6B3A859B698f46ef656; | ||
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| address internal constant SDAI_PRICE_FEED = 0x0c0864837C7e65458aCD3C665222203217019436; | ||
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| address internal constant PT_SUSDE_26DEC2024 = 0xEe9085fC268F6727d5D4293dBABccF901ffDCC29; | ||
| address internal constant PT_26DEC2024_PRICE_FEED = 0x81E5E28F33D314e9211885d6f0F4080E755e4595; | ||
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| address internal constant PT_SUSDE_27MAR2025 = 0xE00bd3Df25fb187d6ABBB620b3dfd19839947b81; | ||
| address internal constant PT_27MAR2025_PRICE_FEED = 0x38d130cEe60CDa080A3b3aC94C79c34B6Fc919A7; | ||
|
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| function newListings() | ||
| public pure override returns (IEngine.Listing[] memory) | ||
| { | ||
| IEngine.Listing[] memory listings = new IEngine.Listing[](1); | ||
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| listings[0] = IEngine.Listing({ | ||
| asset: SUSDS, | ||
| assetSymbol: 'sUSDS', | ||
| priceFeed: SUSDS_PRICE_FEED, | ||
| rateStrategyParams: Rates.RateStrategyParams({ | ||
| optimalUsageRatio: _bpsToRay(80_00), | ||
| baseVariableBorrowRate: 0, | ||
| variableRateSlope1: _bpsToRay(2_00), | ||
| variableRateSlope2: _bpsToRay(300_00), | ||
| stableRateSlope1: 0, | ||
| stableRateSlope2: 0, | ||
| baseStableRateOffset: 0, | ||
| stableRateExcessOffset: 0, | ||
| optimalStableToTotalDebtRatio: 0 | ||
| }), | ||
| enabledToBorrow: EngineFlags.DISABLED, | ||
| stableRateModeEnabled: EngineFlags.DISABLED, | ||
| borrowableInIsolation: EngineFlags.DISABLED, | ||
| withSiloedBorrowing: EngineFlags.DISABLED, | ||
| flashloanable: EngineFlags.DISABLED, | ||
| ltv: 79_00, | ||
| liqThreshold: 80_00, | ||
| liqBonus: 5_00, | ||
| reserveFactor: 10_00, | ||
| supplyCap: 50_000_000, | ||
| borrowCap: 0, | ||
| debtCeiling: 0, | ||
| liqProtocolFee: 10_00, | ||
| eModeCategory: 0 | ||
| }); | ||
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| return listings; | ||
| } | ||
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| function priceFeedsUpdates() public pure override returns (IEngine.PriceFeedUpdate[] memory) { | ||
| IEngine.PriceFeedUpdate[] memory updates = new IEngine.PriceFeedUpdate[](1); | ||
|
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| updates[0] = IEngine.PriceFeedUpdate({ | ||
| asset: Ethereum.SDAI, | ||
| priceFeed: SDAI_PRICE_FEED | ||
| }); | ||
|
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| return updates; | ||
| } | ||
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| function collateralsUpdates() public pure override returns (IEngine.CollateralUpdate[] memory) { | ||
| // Reduce LT from 75% to 70% | ||
| // Reduce liquidation protocol fee from 10% to 0% | ||
| IEngine.CollateralUpdate[] memory updates = new IEngine.CollateralUpdate[](1); | ||
| updates[0] = IEngine.CollateralUpdate({ | ||
| asset: Ethereum.WBTC, | ||
| ltv: EngineFlags.KEEP_CURRENT, | ||
| liqThreshold: 70_00, | ||
| liqBonus: EngineFlags.KEEP_CURRENT, | ||
| debtCeiling: EngineFlags.KEEP_CURRENT, | ||
| liqProtocolFee: 0, | ||
| eModeCategory: EngineFlags.KEEP_CURRENT | ||
| }); | ||
| return updates; | ||
| } | ||
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| function _postExecute() internal override { | ||
| ICapAutomator capAutomator = ICapAutomator(Ethereum.CAP_AUTOMATOR); | ||
|
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| // sUSDS onboarding | ||
| capAutomator.setSupplyCapConfig({ | ||
| asset: SUSDS, | ||
| max: 500_000_000, | ||
| gap: 50_000_000, | ||
| increaseCooldown: 12 hours | ||
| }); | ||
|
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| // Making an initial deposit right after the listing to prevent spToken value manipulation | ||
| IERC20(SUSDS).approve(address(LISTING_ENGINE.POOL()), 1e6); | ||
| LISTING_ENGINE.POOL().deposit(SUSDS, 1e6, address(this), 0); | ||
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| // Onboard Pendle sUSDe PTs to Morpho Spark DAI Vault | ||
| IMetaMorpho(Ethereum.MORPHO_VAULT_DAI_1).submitCap( | ||
| MarketParams({ | ||
| loanToken: Ethereum.DAI, | ||
| collateralToken: PT_SUSDE_26DEC2024, | ||
| oracle: PT_26DEC2024_PRICE_FEED, | ||
| irm: Ethereum.MORPHO_DEFAULT_IRM, | ||
| lltv: 0.915e18 | ||
| }), | ||
| 100_000_000e18 | ||
| ); | ||
|
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| IMetaMorpho(Ethereum.MORPHO_VAULT_DAI_1).submitCap( | ||
| MarketParams({ | ||
| loanToken: Ethereum.DAI, | ||
| collateralToken: PT_SUSDE_27MAR2025, | ||
| oracle: PT_27MAR2025_PRICE_FEED, | ||
| irm: Ethereum.MORPHO_DEFAULT_IRM, | ||
| lltv: 0.915e18 | ||
| }), | ||
| 100_000_000e18 | ||
| ); | ||
|
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| // Reduce supply cap max from 10,000 WBTC to 5,000 WBTC | ||
| // Reduce supply cap gap from 500 WBTC to 200 WBTC | ||
| capAutomator.setSupplyCapConfig({ | ||
| asset: Ethereum.WBTC, | ||
| max: 5_000, | ||
| gap: 200, | ||
| increaseCooldown: 12 hours | ||
| }); | ||
|
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| // Reduce borrow cap max from 2,000 WBTC to 1 WBTC | ||
| // Reduce borrow cap gap from 100 WBTC to 1 WBTC | ||
| capAutomator.setBorrowCapConfig({ | ||
| asset: Ethereum.WBTC, | ||
| max: 1, | ||
| gap: 1, | ||
| increaseCooldown: 12 hours | ||
| }); | ||
| } | ||
| } | ||
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This flag was added based on this open issue in foundry.
We can remove it but we would need to remove the tests for the price of the pt token oracles.