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IOperator

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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

NameTypeDescription
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

NameTypeDescription
amountOutuint256- 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

NameTypeDescription
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

NameTypeDescription
<none>uint256Amount 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

NameTypeDescription
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

NameTypeDescription
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

NameTypeDescription
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

NameTypeDescription
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

NameTypeDescription
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

NameTypeDescription
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

NameTypeDescription
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

NameTypeDescription
high_boolWhether 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

NameTypeDescription
high_boolWhether 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

NameTypeDescription
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;
    uint32 cushionDuration;
    uint32 cushionDebtBuffer;
    uint32 cushionDepositInterval;
    uint32 reserveFactor;
    uint32 regenWait;
    uint32 regenThreshold;
    uint32 regenObserve;
}

Status​

Combines regeneration status for low and high sides of the range

struct Status {
    Regen low;
    Regen high;
}

Regen​

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

struct Regen {
    uint32 count;
    uint48 lastRegen;
    uint32 nextObservation;
    bool[] observations;
}