💱StableSwap 3pool

This is the contract for the 3pool stableswap. Creating a new pool should be done via the pool factory, so that the pool is indexed in the pool registry stored by the factory. A pool can be created with native, ibc or cw20 tokens.

Stableswap Curve

This contract implements the StableSwap curve described by the Curve protocol @ https://curve.fi/files/stableswap-paper.pdf.

Liquidity Provision

A user or bot can provide liquidity by sending a provide_liquidity message and withdraw liquidity with withdraw_liquidity. Whenever liquidity is deposited into a pool, special tokens known as liquidity (LP) tokens are minted to the provider's address, in proportion to how much liquidity it contributed to the pool. These tokens are a representation of a liquidity provider's contribution to a pool. Whenever a trade occurs, the swap_fee percentage, which is a parameter specified by the PoolFee, is distributed pro-rata to all LPs in the pool at the moment of the trade. To receive the underlying liquidity back, plus commission fees that were accrued while their liquidity was locked, LPs must burn their liquidity tokens, which is done via withdraw_liquidity.

Fees

There are three types of fees associated to the pools, namely swap_fee, protocol_fee and burn_fee. The swap_fee remains in the pool, causing a permanent increase in the constant product K. The value of this permanently increased pool goes to all LPs.

The protocol_fee goes to the protocol, and it is to be collected by the Fee Collector contract of the Liquidity Hub. The protocol revenue is then distributed to WHALE stakers in the form of token buybacks.

The burn_fee is a percentage of the tokens that is burned whenever a swap takes place.

Feature toggle

Pools contain a feature toggle, containing the following properties: withdrawals_enabled, deposits_enabled and swaps_enabled. Those features are `ON by default, but could be changed via governance. They could be changed in different scenarios, the ones we could envision include for example if a critical bug is found in a given feature, it could be shut down while is being fixed to avoid exploits. Additionally, if for example liquidity is desired to be migrated to another pool, deposits could be disabled to prevent bots or users to deposit liquidity in the pool.

The code for the trio contract can be found here.

The following are the messages that can be executed on the trio contract:

Instantiate

Instantiates the trio.

{
  "asset_infos": [
    {
      "native_token": {
        "denom": "usdc"
      }
    },
    {
      "native_token": {
        "denom": "usdt"
      }
    },
    {
      "native_token": {
        "denom": "axlusdc"
      }
    }
  ],
  "token_code_id": 123,
  "asset_decimals": [
    6,
    6,
    6
  ],
  "pool_fees": {
    "protocol_fee": {
      "share": "0.01"
    },
    "swap_fee": {
      "share": "0.02"
    },
    "burn_fee": {
      "share": "0.01"
    }
  },
  "fee_collector_addr": "migaloo1...",
  "amp_factor": 85,
  "token_factory_lp": true
}

Migrate

Migrates a trio. This is to be triggered by the owner of the contract, i.e. the pool factory, via the migrate_trio message.

{}

ExecuteMsg

Collect protocol fees

Sends the accrued protocol fees to the Fee Collector. This action can be triggered by anyone.

{
  "collect_protocol_fees": {}
}

Provide liquidity

Provides liquidity to the pool.

Note: in case of providing liquidity with a cw20 token, the message increase_allowance should be called on the cw20 token contract * before* cw20 tokens can be transferred to the pool.

{
  "provide_liquidity": {
    "assets": [
      {
        "info": {
          "native_token": {
            "denom": "uusdc"
          }
        },
        "amount": "1000"
      },
      {
        "info": {
          "native_token": {
            "denom": "ibc/B3504E092456BA618CC28AC671A71FB08C6CA0FD0BE7C8A5B5A3E2DD933CC9E4"
          }
        },
        "amount": "1000"
      },
      {
        "info": {
          "native_token": {
            "denom": "usdt"
          }
        },
        "amount": "1000"
      }
    ],
    "slippage_tolerance": "0.01",
    "receiver": "receiver_addr"
  }
}

{
  "provide_liquidity": {
    "assets": [
      {
        "info": {
          "token": {
            "contract_addr": "migaloo1..."
          }
        },
        "amount": "1000"
      },
      {
        "info": {
          "token": {
            "contract_addr": "migaloo1..."
          }
        },
        "amount": "1000"
      },
      {
        "info": {
          "native_token": {
            "denom": "usdc"
          }
        },
        "amount": "1000"
      }
    ],
    "slippage_tolerance": "0.01",
    "receiver": "receiver_addr"
  }
}

Swap

Swap a token, either native/ibc/factory token or cw20 token.

{
  "swap": {
    "offer_asset": {
      "amount": "100000",
      "info": {
        "native_token": {
          "denom": "usdc"
        }
      }
    },
    "ask_asset": {
      "native_token": {
        "denom": "usdt"
      }
    },
    "belief_price": "1.0",
    "max_spread": "0.005",
    "to": "to_address"
  }
}

This message is to be sent to the cw20 token contract address.

{
  "send": {
    "contract": "pool_contract_address",
    "amount": "1000",
    "msg": "ewogICJzd2FwIjogewogICAgImFza19hc3NldCI6IHsKICAgICAgIm5hdGl2ZV90b2tlbiI6IHsKICAgICAgICAiZGVub20iOiAidXNkdCIKICAgICAgfQogICAgfSwKICAgICJiZWxpZWZfcHJpY2UiOiAiMS4wIiwKICAgICJtYXhfc3ByZWFkIjogIjAuMDA1IiwKICAgICJ0byI6ICJ0b19hZGRyZXNzIgogIH0KfQ=="
  }
}

where ewogICJzd2FwIjoge...yZXNzIgogIH0KfQ== is the following message, encoded in base64:

{
  "swap": {
    "ask_asset": {
      "native_token": {
        "denom": "usdt"
      }
    },
    "belief_price": "1.0",
    "max_spread": "0.005",
    "to": "to_address"
  }
}

Update config

Updates the configuration of the pool.

{
  "update_config": {
    "owner": "owner",
    "fee_collector_addr": "fee_collector_addr",
    "pool_fees": {
      "protocol_fee": {
        "share": "0.01"
      },
      "swap_fee": {
        "share": "0.02"
      },
      "burn_fee": {
        "share": "0.01"
      }
    },
    "feature_toggle": {
      "withdrawals_enabled": true,
      "deposits_enabled": true,
      "swaps_enabled": true
    },
    "amp_factor": {
      "future_a": 80,
      "future_block": 1337
    }
  }
}

Withdraw

Withdraws liquidity from the pool. In case the LP token is a cw20 token, the message needs to be sent to the cw20 token.

{
  "withdraw_liquidity": {}
}

The LP amount to be withdrawn needs to be sent as funds together with this transaction.

{
  "send": {
    "contract": "pool_contract_address",
    "amount": "1000",
    "msg": "ewogICJ3aXRoZHJhd19saXF1aWRpdHkiOiB7fQp9"
  }
}

where ewogICJ3...kiOiB7fQp9 is the withdraw_liquidity message, encoded in base64:

{
  "withdraw_liquidity": {}
}

Queries

Config

Retrieves the configuration of the pool.

{
  "config": {}
}

{
  "owner": "migaloo1...",
  "fee_collector_addr": "migaloo1...",
  "pool_fees": {
    "protocol_fee": {
      "share": "0.001"
    },
    "swap_fee": {
      "share": "0.002"
    },
    "burn_fee": {
      "share": "0.001"
    }
  },
  "feature_toggle": {
    "withdrawals_enabled": true,
    "deposits_enabled": true,
    "swaps_enabled": true
  },
  "initial_amp": 80,
  "future_amp": 85,
  "initial_amp_block": 1337,
  "future_amp_block": 5336
}

Trio

Retrieves information of the trio.

{
  "trio": {}
}

{
  "asset_infos": [
    {
      "native_token": {
        "denom": "usdc"
      }
    },
    {
      "native_token": {
        "denom": "usdt"
      }
    },
    {
      "native_token": {
        "denom": "axlusdc"
      }
    }
  ],
  "contract_addr": "migaloo1...",
  "liquidity_token": {
    "native_token": {
      "denom": "factory/migaloo1.../uLP"
    }
  },
  "asset_decimals": [
    6,
    6,
    6
  ]
}

Pool

Retrieves information about the pool, i.e. liquidity provided, asset infos and total LP shares.

{
  "pool": {}
}

{
  "assets": [
    {
      "info": {
        "native_token": {
          "denom": "usdc"
        }
      },
      "amount": "1000"
    },
    {
      "info": {
        "token": {
          "contract_addr": "migaloo1..."
        }
      },
      "amount": "1000"
    },
    {
      "info": {
        "native_token": {
          "denom": "usdt"
        }
      },
      "amount": "1000"
    }
  ],
  "total_share": "31622776601683"
}

Protocol fees

Retrieves the protocol fees on the pool. If all_time is true, it will return the fees collected since the inception of the pool. On the other hand, if all_time is set to false, only the fees that has been accrued by the pool but not collected by the fee collector will be returned.

Alternatively, if asset_id is set the accrued fees (non collected) for that specific asset will be returned.

{
  "protocol_fees": {
    "asset_id": "uwhale",
    "all_time": false
  }
}

{
  "fees": [
    {
      "info": {
        "native_token": {
          "denom": "uwhale"
        }
      },
      "amount": "42661"
    }
  ]
}

Burned fees

Retrieves the fees that have been burned by pool. If asset_id is set, only the burned fees for that specific asset will be returned, otherwise it returns burned fees for both assets in the pool.

{
  "burned_fees": {
    "asset_id": "uhuahua"
  }
}

{
  "fees": [
    {
      "info": {
        "native_token": {
          "denom": "uhuahua"
        }
      },
      "amount": "42661"
    }
  ]
}

Simulation

Performs a swap simulation for the given token.

{
  "simulation": {
    "offer_asset": {
      "info": {
        "native_token": {
          "denom": "uwhale"
        }
      },
      "amount": "1000"
    }
  }
}

{
  "simulation": {
    "offer_asset": {
      "info": {
        "token": {
          "contract_addr": "migaloo1..."
        }
      },
      "amount": 1000
    }
  }
}

{
  "return_amount": "206395",
  "spread_amount": "1",
  "swap_fee_amount": "414",
  "protocol_fee_amount": "207",
  "burn_fee_amount": "207"
}

Reserve simulation

Performs a reverse swap simulation, i.e. given the ask asset, how much of the offer asset is needed to perform the swap.

{
  "reverse_simulation": {
    "ask_asset": {
      "info": {
        "native_token": {
          "denom": "uwhale"
        }
      },
      "amount": "1000"
    }
  }
}

{
  "reverse_simulation": {
    "ask_asset": {
      "info": {
        "token": {
          "contract_addr": "migaloo1..."
        }
      },
      "amount": "1000"
    }
  }
}

{
  "offer_amount": "207639",
  "spread_amount": "0",
  "swap_fee_amount": "2",
  "protocol_fee_amount": "1",
  "burn_fee_amount": "1"
}

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Last updated 11 months ago