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all the secret keys in the below scripts are for demonstration purposes only and are not to be used in any environment which isn't the test network.

Xycloans testing on Futurenet

Since Sorban doesn't have an ecosysten of protocols yet, you won't be able to leverage flash loans in a real-use-case scenario as of now.

In this write-up you'll find instructions to borrow your first flash loan on Soroban through XycLoans.

Before we start, remember that the latest version of XycLoans is now on Futurenet:

Component Hash Address
proxy 7fd59b4aa2c634157a08727406e37dc8b4a4b68c4ea4e747ea4bf17073f18f6e CB75LG2KULDDIFL2BBZHIBXDPXELJJFWRRHKJZ2H5JF7C4DT6GHW4PJQ
protocol account N/A (will be replaced by governance contract) GADHYKDDVZBD5DUKS4A6KKOFXEFUZ32PHLAMGDIAGY3STJUDYYZEMORK
xlm vault 7a727ce9308c4fa5f94881f0b1085a74d073d94e73404d09e919d7c3077a20ca CB5HE7HJGCGE7JPZJCA7BMIILJ2NA46ZJZZUATIJ5EM5PQYHPIQMVOGW
xlm flash loan 6eb470e872ad67527d71c428607212dd5306d7118b54739216c2907a072a4a85 CBXLI4HIOKWWOUT5OHCCQYDSCLOVGBWXCGFVI44SC3BJA6QHFJFIKM7R

On-chain tests

  • Auth tests: invalid_auth.sh
  • Deposit: deposit.sh
  • Successful flash loan: borrow.sh
  • Unsuccessful flash loan: unsuccessful_borrow.sh
  • Provide liquidity: deposit.sh
  • Fee withdrawals: withdraw_batch.sh

Instructions

Providing liquidity to the XLM pool

Since currently there only is an XLM vault/flash-loan pair, you're going to be able to only provide liquidity for XLM flash loans.

The process of depositing and becoming an owner of a part of the future yield of the flash loans is very simple as it only requires you to invoke one proxy function: the deposit function (https://github.com/xycloo/xycloans/blob/main/proxy/src/contract.rs#L92). Before calling this function though, you'll need an existing futurenet account with some XLM balance. You can go ahead and create and fund a brand-new futurenet account from https://laboratory.stellar.org/#account-creator?network=futurenet.

Then open the deposit.sh bash script, and change these three lines so that you're depositing an AMOUNT (remember these are stroops) from your LP (liquidity provider) account. For example:

# Your settings:
LP_SECRET="SCQIBENLICW73TJKPZMUMZGROQTEBU552C4G5JE27LADE3W6ZHKJL5T3"
LP="GBPZTUMOULFU4XVRMF6S34LIRISHH7EHJ5S7DKCS22XZCTRQY2VKBW6F"
AMOUNT=40000000000

After running it, you'll see that the proxy deposited successfully AMOUNT into the XLM vault (assuming LP had enough XLM balance) and that it returns the batch number of your fee shares (read more about fee shares in the litepaper).

Withdrawing batch fee shares

Before withdrawing you can take a look at how many shares you have for your batch (for batch number 0) with the check_batch_shares.sh script:

$ ./check_batch_shares.sh GBPZTUMOULFU4XVRMF6S34LIRISHH7EHJ5S7DKCS22XZCTRQY2VKBW6F 0
success
{"curr_s":"39999779407","deposit":"40000000000","init_s":"39979779407"}

Here, curr_s is the shares that currently exist for GBPZTUMOULFU4XVRMF6S34LIRISHH7EHJ5S7DKCS22XZCTRQY2VKBW6F's batch 0, and init_s where the shares that were minted for the batch initially (I've already withdrawn 20000000 stroops in the above example).

Important: there seems to be a bug in the CLI when displaying the BatchObj struct as the value inside curr_s should be the one in init_s and the same goes for the other way round. You can check that the vault contract performs this operation correclty in this test (https://github.com/xycloo/xycloans/blob/main/proxy/tests/test.rs#L323).

When you want to withdraw fee shares from a batch you can use the withdraw_batch.sh script. Again, you'll need to modify some settings:

# Your settings:
LP_SECRET="same secret you used for the deposit"
LP="same public key you used for the deposit"
BATCH_N=0
SHARES=20000000

BATCH_N is the batch number, so in your case 0 since you havent withdrawn any fees yet. SHARES can be any number between 0 and the current_s number of the batch (as for the possible CLI bug we've described above, the shares will actually have to be between 0 and init_s).

After running the script the proxy will have forwarded your call to the vault, which has burned SHARES from batch 0 and minted some fresh shares (according the amount of burned shares SHARES) in a new batch 1.

In fact, we can run ./check_batch_shares.sh GBPZTUMOULFU4XVRMF6S34LIRISHH7EHJ5S7DKCS22XZCTRQY2VKBW6F 1 to check this new batch:

success
{"curr_s":"19993903","deposit":"20000000","init_s":"19993903"}

Borrowing a flash loan

If you want to try borrowing rather than lending, the borrow.sh script will help you borrow your first flash loan on Soroban.

First things first, you'll need to deploy the example receiver contract from https://github.com/xycloo/xycloans/tree/main/examples/simple. So, you'll need to clone the xycloans repo, then:

$ cd xycloans/receiver-standard
$ cargo +nightly build \
    --target wasm32-unknown-unknown \
    --release \
    -Z build-std=std,panic_abort \
    -Z build-std-features=panic_immediate_abort
$ cd examples/simple
$ cargo +nightly build \
    --target wasm32-unknown-unknown \
    --release \
    -Z build-std=std,panic_abort \
    -Z build-std-features=panic_immediate_abort
$ soroban contract deploy --wasm ../target/wasm32-unknown-unknown/release/simple.wasm --secret-key $YOUR_SECRET --rpc-url https://future.stellar.kai.run:443/soroban/rpc --network-passphrase 'Test SDF Future Network ; October 2022'

Once you deployed the contract and have the contract's id hash, you'll need to open the borrow.sh script, set the contract hash id as the RECEIVER (line 5), then go to https://strkey-encode.xycloo.com/ to strkey encode the contract hash and set it as the RECEIVER_ADDR (line 6).

Then, change the following lines changing the accounts for accounts that you have created on Futurenet. AMOUNT is the amount of stroops you are going to borrow.

# Your settings:
FEES_ADDR="GDAJ7LTOQLTAQCDKHTI3MXSY6LNQZE4OP2ZZGVTZLIONJ6D3Y6WSHBCQ"
FEES_ADDR_SECRET="SDOTFZRK3TPVMBWGOWBZQA7DHZOFQGGZ73NJTOQZQDRCDTVRIGRBN4KG"
BORROWER_ADDR="GDCZNP76XCMXRTLBTL4AESVN4XBJUWUYIDBRZG2CEWKY5RI5AFQW5ZSK"
BORROWER_SECRET="SB3YEWVNEGSPARBL2E3NPXFPGCPBNB4UUDXKSYFGEPVLRG2IJ6E3AHJV"
AMOUNT=10000000000 # we're borrowing 1000 XLM

Once you're done you're ready to run the script!

You should see the invocation executing successfully. You can also check the state of the chain after the borrow by looking at the XLM balance of the receiver contract (that should have 9.5 XLM since we xferred 10 XLM to it before borrowing (emulating that the receiver contract has earned 10 XLM from its operations) at line 25 of the script, of which 0.5 went to the vault as fees (0.05% of the borrowed amount)).