IOperator

Git Source

Functions

operate

Executes market operations logic.

Access restricted

This function is triggered by a keeper on the Heart contract.

function operate() external;

swap

Swap at the current wall prices

function swap(ERC20 tokenIn_, uint256 amountIn_, uint256 minAmountOut_) external returns (uint256 amountOut);

Parameters

Name	Type	Description
tokenIn_	ERC20	- Token to swap into the wall - OHM: swap at the low wall price for Reserve - Reserve: swap at the high wall price for OHM
amountIn_	uint256	- Amount of tokenIn to swap
minAmountOut_	uint256	- Minimum amount of opposite token to receive

Returns

Name	Type	Description
amountOut	uint256	- Amount of opposite token received

getAmountOut

Returns the amount to be received from a swap

function getAmountOut(ERC20 tokenIn_, uint256 amountIn_) external view returns (uint256);

Parameters

Name	Type	Description
tokenIn_	ERC20	- Token to swap into the wall - If OHM: swap at the low wall price for Reserve - If Reserve: swap at the high wall price for OHM
amountIn_	uint256	- Amount of tokenIn to swap

Returns

Name	Type	Description
<none>	uint256	Amount of opposite token received

setSpreads

Set the wall and cushion spreads

Access restricted

Interface for externally setting these values on the RANGE module

function setSpreads(bool high_, uint256 cushionSpread_, uint256 wallSpread_) external;

Parameters

Name	Type	Description
high_	bool	- Whether to set the spreads for the high or low side (true = high, false = low)
cushionSpread_	uint256	- Percent spread to set the cushions at above/below the moving average, assumes 2 decimals (i.e. 1000 = 10%)
wallSpread_	uint256	- Percent spread to set the walls at above/below the moving average, assumes 2 decimals (i.e. 1000 = 10%)

setThresholdFactor

Set the threshold factor for when a wall is considered "down"

Access restricted

Interface for externally setting this value on the RANGE module

function setThresholdFactor(uint256 thresholdFactor_) external;

Parameters

Name	Type	Description
thresholdFactor_	uint256	- Percent of capacity that the wall should close below, assumes 2 decimals (i.e. 1000 = 10%)

setCushionFactor

Set the cushion factor

Access restricted

function setCushionFactor(uint32 cushionFactor_) external;

Parameters

Name	Type	Description
cushionFactor_	uint32	- Percent of wall capacity that the operator will deploy in the cushion, assumes 2 decimals (i.e. 1000 = 10%)

setCushionParams

Set the parameters used to deploy cushion bond markets

Access restricted

function setCushionParams(uint32 duration_, uint32 debtBuffer_, uint32 depositInterval_) external;

Parameters

Name	Type	Description
duration_	uint32	- Duration of cushion bond markets in seconds
debtBuffer_	uint32	- Percentage over the initial debt to allow the market to accumulate at any one time. Percent with 3 decimals, e.g. 1_000 = 1 %. See IBondSDA for more info.
depositInterval_	uint32	- Target frequency of deposits in seconds. Determines max payout of the bond market. See IBondSDA for more info.

setReserveFactor

Set the reserve factor

Access restricted

function setReserveFactor(uint32 reserveFactor_) external;

Parameters

Name	Type	Description
reserveFactor_	uint32	- Percent of treasury reserves to deploy as capacity for market operations, assumes 2 decimals (i.e. 1000 = 10%)

setRegenParams

Set the wall regeneration parameters

Access restricted

We must see Threshold number of price points that meet our criteria within the last Observe number of price points to regenerate a wall.

function setRegenParams(uint32 wait_, uint32 threshold_, uint32 observe_) external;

Parameters

Name	Type	Description
wait_	uint32	- Minimum duration to wait to reinstate a wall in seconds
threshold_	uint32	- Number of price points on other side of moving average to reinstate a wall
observe_	uint32	- Number of price points to observe to determine regeneration

setBondContracts

Set the contracts that the Operator deploys bond markets with.

Access restricted

function setBondContracts(IBondSDA auctioneer_, IBondCallback callback_) external;

Parameters

Name	Type	Description
auctioneer_	IBondSDA	- Address of the bond auctioneer to use.
callback_	IBondCallback	- Address of the callback to use.

initialize

Initialize the Operator to begin market operations

Access restricted

Can only be called once

This function executes actions required to start operations that cannot be done prior to the Operator policy being approved by the Kernel.

function initialize() external;

regenerate

Regenerate the wall for a side

Access restricted

This function is an escape hatch to trigger out of cycle regenerations and may be useful when doing migrations of Treasury funds

function regenerate(bool high_) external;

Parameters

Name	Type	Description
high_	bool	Whether to regenerate the high side or low side (true = high, false = low)

deactivate

Deactivate the Operator

Access restricted

Emergency pause function for the Operator. Prevents market operations from occurring.

function deactivate() external;

activate

Activate the Operator

Access restricted

Restart function for the Operator after a pause.

function activate() external;

deactivateCushion

Manually close a cushion bond market

Access restricted

Emergency shutdown function for Cushions

function deactivateCushion(bool high_) external;

Parameters

Name	Type	Description
high_	bool	Whether to deactivate the high or low side cushion (true = high, false = low)

fullCapacity

Returns the full capacity of the specified wall (if it was regenerated now)

Calculates the capacity to deploy for a wall based on the amount of reserves owned by the treasury and the reserve factor.

function fullCapacity(bool high_) external view returns (uint256);

Parameters

Name	Type	Description
high_	bool	- Whether to return the full capacity for the high or low wall

status

Returns the status variable of the Operator as a Status struct

function status() external view returns (Status memory);

config

Returns the config variable of the Operator as a Config struct

function config() external view returns (Config memory);

Events

Swap

event Swap(ERC20 indexed tokenIn_, ERC20 indexed tokenOut_, uint256 amountIn_, uint256 amountOut_);

CushionFactorChanged

event CushionFactorChanged(uint32 cushionFactor_);

CushionParamsChanged

event CushionParamsChanged(uint32 duration_, uint32 debtBuffer_, uint32 depositInterval_);

ReserveFactorChanged

event ReserveFactorChanged(uint32 reserveFactor_);

RegenParamsChanged

event RegenParamsChanged(uint32 wait_, uint32 threshold_, uint32 observe_);

Errors

Operator_InvalidParams

error Operator_InvalidParams();

Operator_InsufficientCapacity

error Operator_InsufficientCapacity();

Operator_AmountLessThanMinimum

error Operator_AmountLessThanMinimum(uint256 amountOut, uint256 minAmountOut);

Operator_WallDown

error Operator_WallDown();

Operator_AlreadyInitialized

error Operator_AlreadyInitialized();

Operator_NotInitialized

error Operator_NotInitialized();

Operator_Inactive

error Operator_Inactive();

Structs

Config

Configuration variables for the Operator

struct Config {
    uint32 cushionFactor; // percent of capacity to be used for a single cushion deployment, assumes 2 decimals (i.e. 1000 = 10%)
    uint32 cushionDuration; // duration of a single cushion deployment in seconds
    uint32 cushionDebtBuffer; // Percentage over the initial debt to allow the market to accumulate at any one time. Percent with 3 decimals, e.g. 1_000 = 1 %. See IBondSDA for more info.
    uint32 cushionDepositInterval; // Target frequency of deposits. Determines max payout of the bond market. See IBondSDA for more info.
    uint32 reserveFactor; // percent of reserves in treasury to be used for a single wall, assumes 2 decimals (i.e. 1000 = 10%)
    uint32 regenWait; // minimum duration to wait to reinstate a wall in seconds
    uint32 regenThreshold; // number of price points on other side of moving average to reinstate a wall
    uint32 regenObserve; // number of price points to observe to determine regeneration
}

Status

Combines regeneration status for low and high sides of the range

struct Status {
    Regen low; // regeneration status for the low side of the range
    Regen high; // regeneration status for the high side of the range
}

Regen

Tracks status of when a specific side of the range can be regenerated by the Operator

struct Regen {
    uint32 count; // current number of price points that count towards regeneration
    uint48 lastRegen; // timestamp of the last regeneration
    uint32 nextObservation; // index of the next observation in the observations array
    bool[] observations; // individual observations: true = price on other side of average, false = price on same side of average
}