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EmissionManager

Git Source

Inherits: IEmissionManager, Policy, RolesConsumer

State Variables​

rateChange​

active base emissions rate change information

active until daysLeft is 0

BaseRateChange public rateChange;

TRSRY​

TRSRYv1 public TRSRY;

PRICE​

PRICEv1 public PRICE;

MINTR​

MINTRv1 public MINTR;

CHREG​

CHREGv1 public CHREG;

ohm​

ERC20 public immutable ohm;

gohm​

IgOHM public immutable gohm;

reserve​

ERC20 public immutable reserve;

sReserve​

ERC4626 public immutable sReserve;

auctioneer​

IBondSDA public auctioneer;

teller​

address public teller;

baseEmissionRate​

uint256 public baseEmissionRate;

minimumPremium​

uint256 public minimumPremium;

vestingPeriod​

uint48 public vestingPeriod;

backing​

uint256 public backing;

beatCounter​

uint8 public beatCounter;

locallyActive​

bool public locallyActive;

activeMarketId​

uint256 public activeMarketId;

_oracleDecimals​

uint8 internal _oracleDecimals;

_ohmDecimals​

uint8 internal immutable _ohmDecimals;

_gohmDecimals​

uint8 internal immutable _gohmDecimals;

_reserveDecimals​

uint8 internal immutable _reserveDecimals;

shutdownTimestamp​

timestamp of last shutdown

uint48 public shutdownTimestamp;

restartTimeframe​

time in seconds that the manager needs to be restarted after a shutdown, otherwise it must be re-initialized

uint48 public restartTimeframe;

ONE_HUNDRED_PERCENT​

uint256 internal constant ONE_HUNDRED_PERCENT = 1e18;

Functions​

constructor​

constructor(
    Kernel kernel_,
    address ohm_,
    address gohm_,
    address reserve_,
    address sReserve_,
    address auctioneer_,
    address teller_
) Policy(kernel_);

configureDependencies​

function configureDependencies() external override returns (Keycode[] memory dependencies);

requestPermissions​

function requestPermissions() external view override returns (Permissions[] memory permissions);

execute​

calculate and execute sale, if applicable, once per day (every 3 beats)

this function is restricted to the heart role and is called on each heart beat

function execute() external onlyRole("heart");

initialize​

allow governance to initialize the emission manager

function initialize(uint256 baseEmissionsRate_, uint256 minimumPremium_, uint256 backing_, uint48 restartTimeframe_)
    external
    onlyRole("emissions_admin");

Parameters

NameTypeDescription
baseEmissionsRate_uint256percent of OHM supply to issue per day at the minimum premium, in OHM scale, i.e. 1e9 = 100%
minimumPremium_uint256minimum premium at which to issue OHM, a percentage where 1e18 is 100%
backing_uint256backing price of OHM in reserve token, in reserve scale
restartTimeframe_uint48time in seconds that the manager needs to be restarted after a shutdown, otherwise it must be re-initialized

callback​

callback function for bond market, only callable by the teller

function callback(uint256 id_, uint256 inputAmount_, uint256 outputAmount_) external;

_createMarket​

create bond protocol market with given budget

function _createMarket(uint256 saleAmount) internal;

Parameters

NameTypeDescription
saleAmountuint256amount of DAI to fund bond market with

_updateBacking​

allow emission manager to update backing price based on new supply and reserves added

function _updateBacking(uint256 supplyAdded, uint256 reservesAdded) internal;

Parameters

NameTypeDescription
supplyAddeduint256number of new OHM minted
reservesAddeduint256number of new DAI added

_getPriceDecimals​

Helper function to calculate number of price decimals based on the value returned from the price feed.

function _getPriceDecimals(uint256 price_) internal view returns (int8);

Parameters

NameTypeDescription
price_uint256The price to calculate the number of decimals for

Returns

NameTypeDescription
<none>int8The number of decimals

shutdown​

shutdown the emission manager locally and close the active bond market

function shutdown() external onlyRole("emergency_shutdown");

restart​

restart the emission manager locally

function restart() external onlyRole("emergency_restart");

rescue​

Rescue any ERC20 token sent to this contract and send it to the TRSRY

This function is restricted to the emissions_admin role

function rescue(address token_) external onlyRole("emissions_admin");

Parameters

NameTypeDescription
token_addressThe address of the ERC20 token to rescue

changeBaseRate​

set the base emissions rate

function changeBaseRate(uint256 changeBy_, uint48 forNumBeats_, bool add) external onlyRole("emissions_admin");

Parameters

NameTypeDescription
changeBy_uint256uint256 added or subtracted from baseEmissionRate
forNumBeats_uint48uint256 number of times to change baseEmissionRate by changeBy_
addboolbool determining addition or subtraction to baseEmissionRate

setMinimumPremium​

set the minimum premium for emissions

function setMinimumPremium(uint256 newMinimumPremium_) external onlyRole("emissions_admin");

Parameters

NameTypeDescription
newMinimumPremium_uint256uint256

setVestingPeriod​

set the new vesting period in seconds

function setVestingPeriod(uint48 newVestingPeriod_) external onlyRole("emissions_admin");

Parameters

NameTypeDescription
newVestingPeriod_uint48uint48

setBacking​

allow governance to adjust backing price if deviated from reality

note if adjustment is more than 33% down, contract should be redeployed

function setBacking(uint256 newBacking) external onlyRole("emissions_admin");

Parameters

NameTypeDescription
newBackinguint256to adjust to TODO maybe put in a timespan arg so it can be smoothed over time if desirable

setRestartTimeframe​

allow governance to adjust the timeframe for restart after shutdown

function setRestartTimeframe(uint48 newTimeframe) external onlyRole("emissions_admin");

Parameters

NameTypeDescription
newTimeframeuint48to adjust it to

setBondContracts​

allow governance to set the bond contracts used by the emission manager

function setBondContracts(address auctioneer_, address teller_) external onlyRole("emissions_admin");

Parameters

NameTypeDescription
auctioneer_addressaddress of the bond auctioneer contract
teller_addressaddress of the bond teller contract

getReserves​

return reserves, measured as clearinghouse receivables and sReserve balances, in reserve denomination

function getReserves() public view returns (uint256 reserves);

getSupply​

return supply, measured as supply of gOHM in OHM denomination

function getSupply() public view returns (uint256 supply);

getPremium​

return the current premium as a percentage where 1e18 is 100%

function getPremium() public view returns (uint256);

getNextSale​

return the next sale amount, premium, emission rate, and emissions based on the current premium

function getNextSale() public view returns (uint256 premium, uint256 emissionRate, uint256 emission);