IMonoCooler

Git Source

Title: Mono Cooler

A borrow/lend market where users can deposit their gOHM as collateral and then borrow a stablecoin debt token up to a certain LTV

• The debt token may change over time - eg DAI to USDS (or USDC), determined by the CoolerTreasuryBorrower
• The collateral and debt amounts tracked on this contract are always reported in wad, ie 18 decimal places
• gOHM collateral can be delegated to accounts for voting, via the DLGTE module
• Positions can be liquidated if the LTV breaches the 'liquidation LTV' as determined by the LTV Oracle
• Users may set an authorization for one other address to act on its behalf.

Functions

collateralToken

The collateral token supplied by users/accounts, eg gOHM

function collateralToken() external view returns (IERC20);

Returns

Name	Type	Description
<none>	IERC20

debtToken

The debt token which can be borrowed, eg DAI or USDS

function debtToken() external view returns (IERC20);

Returns

Name	Type	Description
<none>	IERC20

ohm

Unwrapped gOHM

function ohm() external view returns (IERC20);

Returns

Name	Type	Description
<none>	IERC20

staking

staking contract to unstake (and burn) OHM from liquidations

function staking() external view returns (IStaking);

Returns

Name	Type	Description
<none>	IStaking

minDebtRequired

The minimum debt a user needs to maintain

It costs gas to liquidate users, so we don't want dust amounts. To 18 decimal places

function minDebtRequired() external view returns (uint256);

Returns

Name	Type	Description
<none>	uint256

totalCollateral

The total amount of collateral posted across all accounts.

To 18 decimal places

function totalCollateral() external view returns (uint128);

Returns

Name	Type	Description
<none>	uint128

totalDebt

The total amount of debt which has been borrowed across all users as of the latest checkpoint

To 18 decimal places

function totalDebt() external view returns (uint128);

Returns

Name	Type	Description
<none>	uint128

liquidationsPaused

Liquidations may be paused in order for users to recover/repay debt after emergency actions or interest rate changes

function liquidationsPaused() external view returns (bool);

Returns

Name	Type	Description
<none>	bool

borrowsPaused

Borrows may be paused for emergency actions or deprecating the facility

function borrowsPaused() external view returns (bool);

Returns

Name	Type	Description
<none>	bool

interestRateWad

The flat interest rate (APR).

Interest (approximately) continuously compounds at this rate.

To 18 decimal places

function interestRateWad() external view returns (uint96);

Returns

Name	Type	Description
<none>	uint96

ltvOracle

The oracle serving both the Max Origination LTV and the Liquidation LTV

function ltvOracle() external view returns (ICoolerLtvOracle);

Returns

Name	Type	Description
<none>	ICoolerLtvOracle

treasuryBorrower

The policy which borrows/repays from Treasury on behalf of Cooler

function treasuryBorrower() external view returns (ICoolerTreasuryBorrower);

Returns

Name	Type	Description
<none>	ICoolerTreasuryBorrower

loanToValues

The current Max Origination LTV and Liquidation LTV from the ltvOracle()

Both to 18 decimal places

function loanToValues() external view returns (uint96 maxOriginationLtv, uint96 liquidationLtv);

Returns

Name	Type	Description
maxOriginationLtv	uint96
liquidationLtv	uint96

interestAccumulatorUpdatedAt

The last time the global debt accumulator was updated

function interestAccumulatorUpdatedAt() external view returns (uint40);

Returns

Name	Type	Description
<none>	uint40

interestAccumulatorRay

The accumulator index used to track the compounding of debt, starting at 1e27 at genesis

To RAY (1e27) precision

function interestAccumulatorRay() external view returns (uint256);

Returns

Name	Type	Description
<none>	uint256

authorizations

Whether authorized is authorized to act on authorizer's behalf for all user actions up until the authorizationDeadline unix timestamp.

Anyone is authorized to modify their own positions, regardless of this variable.

function authorizations(
        address authorizer,
        address authorized
    ) external view returns (uint96 authorizationDeadline);

Parameters

Name	Type	Description
authorizer	address
authorized	address

Returns

Name	Type	Description
authorizationDeadline	uint96

authorizationNonces

The authorizer's current nonce. Used to prevent replay attacks with EIP-712 signatures.

function authorizationNonces(address authorizer) external view returns (uint256);

Parameters

Name	Type	Description
authorizer	address

Returns

Name	Type	Description
<none>	uint256

DOMAIN_SEPARATOR

Returns the domain separator used in the encoding of the signature for setAuthorizationWithSig(), as defined by EIP712.

function DOMAIN_SEPARATOR() external view returns (bytes32);

Returns

Name	Type	Description
<none>	bytes32

setAuthorization

Sets the authorization for authorized to manage msg.sender's positions until authorizationDeadline

Authorization can be revoked by setting the authorizationDeadline into the past

function setAuthorization(address authorized, uint96 authorizationDeadline) external;

Parameters

Name	Type	Description
authorized	address	The authorized address.
authorizationDeadline	uint96	The unix timestamp that they the authorization is valid until.

setAuthorizationWithSig

Sets the authorization for authorization.authorized to manage authorization.authorizer's positions until authorization.authorizationDeadline.

Warning: Reverts if the signature has already been submitted.

The signature is malleable, but it has no impact on the security here.

The nonce is passed as argument to be able to revert with a different error message.

Authorization can be revoked by calling setAuthorization() and setting the authorizationDeadline into the past

function setAuthorizationWithSig(
        Authorization calldata authorization,
        Signature calldata signature
    ) external;

Parameters

Name	Type	Description
authorization	Authorization	The Authorization struct.
signature	Signature	The signature.

isSenderAuthorized

Returns whether the sender is authorized to manage onBehalf's positions.

function isSenderAuthorized(address sender, address onBehalf) external view returns (bool);

Parameters

Name	Type	Description
sender	address
onBehalf	address

Returns

Name	Type	Description
<none>	bool

addCollateral

Deposit gOHM as collateral

function addCollateral(
        uint128 collateralAmount,
        address onBehalfOf,
        IDLGTEv1.DelegationRequest[] calldata delegationRequests
    ) external;

Parameters

Name	Type	Description
collateralAmount	uint128	The amount to deposit to 18 decimal places - MUST be greater than zero
onBehalfOf	address	A caller can add collateral on behalf of themselves or another address. - MUST NOT be address(0)
delegationRequests	IDLGTEv1.DelegationRequest[]	The set of delegations to apply after adding collateral. - MAY be empty, meaning no delegations are applied. - MUST ONLY be requests to add delegations, and that total MUST BE less than the collateralAmount argument - If onBehalfOf does not equal the caller, the caller must be authorized via setAuthorization() or setAuthorizationWithSig()

withdrawCollateral

Withdraw gOHM collateral.

• Account LTV MUST be less than or equal to maxOriginationLtv after the withdraw is applied
• At least collateralAmount collateral MUST be undelegated for this account. Use the delegationRequests to rescind enough as part of this request.

function withdrawCollateral(
        uint128 collateralAmount,
        address onBehalfOf,
        address recipient,
        IDLGTEv1.DelegationRequest[] calldata delegationRequests
    ) external returns (uint128 collateralWithdrawn);

Parameters

Name	Type	Description
collateralAmount	uint128	The amount of collateral to remove to 18 decimal places - MUST be greater than zero - If set to type(uint128).max then withdraw the max amount up to maxOriginationLtv
onBehalfOf	address	A caller can withdraw collateral on behalf of themselves or another address if authorized via setAuthorization() or setAuthorizationWithSig()
recipient	address	Send the gOHM collateral to a specified recipient address. - MUST NOT be address(0)
delegationRequests	IDLGTEv1.DelegationRequest[]	The set of delegations to apply before removing collateral. - MAY be empty, meaning no delegations are applied. - MUST ONLY be requests to undelegate, and that total undelegated MUST BE less than the collateralAmount argument

Returns

Name	Type	Description
collateralWithdrawn	uint128

applyDelegations

Apply a set of delegation requests on behalf of a given user.

function applyDelegations(
        IDLGTEv1.DelegationRequest[] calldata delegationRequests,
        address onBehalfOf
    )
        external
        returns (uint256 totalDelegated, uint256 totalUndelegated, uint256 undelegatedBalance);

Parameters

Name	Type	Description
delegationRequests	IDLGTEv1.DelegationRequest[]	The set of delegations to apply. - MAY be empty, meaning no delegations are applied. - Total collateral delegated as part of these requests MUST BE less than the account collateral. - MUST NOT apply delegations that results in more collateral being undelegated than the account has collateral for. - It applies across total gOHM balances for a given account across all calling policies So this may (un)delegate the account's gOHM set by another policy
onBehalfOf	address	A caller can apply delegations on behalf of themselves or another address if authorized via setAuthorization() or setAuthorizationWithSig()

Returns

Name	Type	Description
totalDelegated	uint256
totalUndelegated	uint256
undelegatedBalance	uint256

borrow

Borrow debtToken

• Account LTV MUST be less than or equal to maxOriginationLtv after the borrow is applied
• Total debt for this account MUST be greater than or equal to the minDebtRequired after the borrow is applied

function borrow(
        uint128 borrowAmountInWad,
        address onBehalfOf,
        address recipient
    ) external returns (uint128 amountBorrowedInWad);

Parameters

Name	Type	Description
borrowAmountInWad	uint128	The amount of debtToken to borrow, to 18 decimals regardless of the debt token - MUST be greater than zero - If set to type(uint128).max then borrow the max amount up to maxOriginationLtv
onBehalfOf	address	A caller can borrow on behalf of themselves or another address if authorized via setAuthorization() or setAuthorizationWithSig()
recipient	address	Send the borrowed token to a specified recipient address. - MUST NOT be address(0)

Returns

Name	Type	Description
amountBorrowedInWad	uint128	The amount actually borrowed.

repay

Repay a portion, or all of the debt

• MUST NOT be called for an account which has no debt
• If the entire debt isn't paid off, then the total debt for this account MUST be greater than or equal to the minDebtRequired after the borrow is applied

function repay(
        uint128 repayAmountInWad,
        address onBehalfOf
    ) external returns (uint128 amountRepaidInWad);

Parameters

Name	Type	Description
repayAmountInWad	uint128	The amount to repay, to 18 decimals regardless of the debt token - MUST be greater than zero - MAY be greater than the latest debt as of this block. In which case it will be capped to that latest debt
onBehalfOf	address	A caller can repay the debt on behalf of themselves or another address

Returns

Name	Type	Description
amountRepaidInWad	uint128	The amount actually repaid.

batchLiquidate

Liquidate one or more accounts which have exceeded the liquidationLtv The gOHM collateral is seized (unstaked to OHM and burned), and the accounts debt is wiped.

• If one of the provided accounts in the batch hasn't exceeded the max LTV then it is skipped.
  • Delegations are auto-rescinded if required. Ordering of this is not guaranteed.

function batchLiquidate(
        address[] calldata accounts
    )
        external
        returns (
            uint128 totalCollateralClaimed,
            uint128 totalDebtWiped,
            uint128 totalLiquidationIncentive
        );

Parameters

Name	Type	Description
accounts	address[]

Returns

Name	Type	Description
totalCollateralClaimed	uint128
totalDebtWiped	uint128
totalLiquidationIncentive	uint128

applyUnhealthyDelegations

If an account becomes unhealthy and has many delegations such that liquidation can't be performed in one transaction, then delegations can be rescinded over multiple transactions in order to get this account into a state where it can then be liquidated.

function applyUnhealthyDelegations(
        address account,
        uint256 autoRescindMaxNumDelegates
    ) external returns (uint256 totalUndelegated, uint256 undelegatedBalance);

Parameters

Name	Type	Description
account	address
autoRescindMaxNumDelegates	uint256

Returns

Name	Type	Description
totalUndelegated	uint256
undelegatedBalance	uint256

setLtvOracle

Set the oracle which serves the max Origination LTV and the Liquidation LTV

function setLtvOracle(address newOracle) external;

Parameters

Name	Type	Description
newOracle	address

setTreasuryBorrower

Set the policy which borrows/repays from Treasury on behalf of Cooler

function setTreasuryBorrower(address newTreasuryBorrower) external;

Parameters

Name	Type	Description
newTreasuryBorrower	address

setLiquidationsPaused

Liquidation may be paused in order for users to recover/repay debt after emergency actions

Can only be called by emergency or admin roles

function setLiquidationsPaused(bool isPaused) external;

Parameters

Name	Type	Description
isPaused	bool

setBorrowPaused

Pause any new borrows of debtToken

Can only be called by emergency or admin roles

function setBorrowPaused(bool isPaused) external;

Parameters

Name	Type	Description
isPaused	bool

setInterestRateWad

Update the interest rate (APR), specified in Wad (18 decimals)

• Cannot be set higher than 10% APR
• Interest (approximately) continuously compounds at this rate.

function setInterestRateWad(uint96 newInterestRateWad) external;

Parameters

Name	Type	Description
newInterestRateWad	uint96

setMaxDelegateAddresses

Allow an account to have more or less than the DEFAULT_MAX_DELEGATE_ADDRESSES number of delegates.

function setMaxDelegateAddresses(address account, uint32 maxDelegateAddresses) external;

Parameters

Name	Type	Description
account	address
maxDelegateAddresses	uint32

checkpointDebt

Update and checkpoint the total debt up until now

May be useful in case there are no new user actions for some time.

function checkpointDebt()
        external
        returns (uint128 totalDebtInWad, uint256 interestAccumulatorRay);

Returns

Name	Type	Description
totalDebtInWad	uint128
interestAccumulatorRay	uint256

debtDeltaForMaxOriginationLtv

Calculate the difference in debt required in order to be at or just under the maxOriginationLTV if collateralDelta was added/removed from the current position. A positive debtDeltaInWad means the account can borrow that amount after adding that collateralDelta collateral A negative debtDeltaInWad means it needs to repay that amount in order to withdraw that collateralDelta collateral

debtDeltaInWad is always to 18 decimal places

function debtDeltaForMaxOriginationLtv(
        address account,
        int128 collateralDelta
    ) external view returns (int128 debtDeltaInWad);

Parameters

Name	Type	Description
account	address
collateralDelta	int128

Returns

Name	Type	Description
debtDeltaInWad	int128

accountPosition

An view of an accounts current and up to date position as of this block

function accountPosition(
        address account
    ) external view returns (AccountPosition memory position);

Parameters

Name	Type	Description
account	address	The account to get a position for

Returns

Name	Type	Description
position	AccountPosition

computeLiquidity

Compute the liquidity status for a set of accounts.

This can be used to verify if accounts can be liquidated or not.

function computeLiquidity(
        address[] calldata accounts
    ) external view returns (LiquidationStatus[] memory status);

Parameters

Name	Type	Description
accounts	address[]	The accounts to get the status for.

Returns

Name	Type	Description
status	LiquidationStatus[]

accountDelegationsList

Paginated view of an account's delegations

Can call sequentially increasing the startIndex each time by the number of items returned in the previous call, until number of items returned is less than maxItems

function accountDelegationsList(
        address account,
        uint256 startIndex,
        uint256 maxItems
    ) external view returns (IDLGTEv1.AccountDelegation[] memory delegations);

Parameters

Name	Type	Description
account	address
startIndex	uint256
maxItems	uint256

Returns

Name	Type	Description
delegations	IDLGTEv1.AccountDelegation[]

accountState

A view of the last checkpoint of account data (not as of this block)

function accountState(address account) external view returns (AccountState memory);

Parameters

Name	Type	Description
account	address

Returns

Name	Type	Description
<none>	AccountState

accountCollateral

An account's current collateral

to 18 decimal places

function accountCollateral(address account) external view returns (uint128 collateralInWad);

Parameters

Name	Type	Description
account	address

Returns

Name	Type	Description
collateralInWad	uint128

accountDebt

An account's current debt as of this block

function accountDebt(address account) external view returns (uint128 debtInWad);

Parameters

Name	Type	Description
account	address

Returns

Name	Type	Description
debtInWad	uint128

globalState

A view of the derived/internal cache data.

function globalState()
        external
        view
        returns (uint128 totalDebt, uint256 interestAccumulatorRay);

Returns

Name	Type	Description
totalDebt	uint128
interestAccumulatorRay	uint256

Events

BorrowPausedSet

event BorrowPausedSet(bool isPaused);

Parameters

Name	Type	Description
isPaused	bool

LiquidationsPausedSet

event LiquidationsPausedSet(bool isPaused);

Parameters

Name	Type	Description
isPaused	bool

InterestRateSet

event InterestRateSet(uint96 interestRateWad);

Parameters

Name	Type	Description
interestRateWad	uint96

LtvOracleSet

event LtvOracleSet(address indexed oracle);

Parameters

Name	Type	Description
oracle	address

TreasuryBorrowerSet

event TreasuryBorrowerSet(address indexed treasuryBorrower);

Parameters

Name	Type	Description
treasuryBorrower	address

CollateralAdded

event CollateralAdded(
        address indexed caller,
        address indexed onBehalfOf,
        uint128 collateralAmount
    );

Parameters

Name	Type	Description
caller	address
onBehalfOf	address
collateralAmount	uint128

CollateralWithdrawn

event CollateralWithdrawn(
        address indexed caller,
        address indexed onBehalfOf,
        address indexed recipient,
        uint128 collateralAmount
    );

Parameters

Name	Type	Description
caller	address
onBehalfOf	address
recipient	address
collateralAmount	uint128

Borrow

event Borrow(
        address indexed caller,
        address indexed onBehalfOf,
        address indexed recipient,
        uint128 amount
    );

Parameters

Name	Type	Description
caller	address
onBehalfOf	address
recipient	address
amount	uint128

Repay

event Repay(address indexed caller, address indexed onBehalfOf, uint128 repayAmount);

Parameters

Name	Type	Description
caller	address
onBehalfOf	address
repayAmount	uint128

Liquidated

event Liquidated(
        address indexed caller,
        address indexed account,
        uint128 collateralSeized,
        uint128 debtWiped,
        uint128 incentives
    );

Parameters

Name	Type	Description
caller	address
account	address
collateralSeized	uint128
debtWiped	uint128
incentives	uint128

AuthorizationSet

event AuthorizationSet(
        address indexed caller,
        address indexed account,
        address indexed authorized,
        uint96 authorizationDeadline
    );

Parameters

Name	Type	Description
caller	address
account	address
authorized	address
authorizationDeadline	uint96

Errors

ExceededMaxOriginationLtv

error ExceededMaxOriginationLtv(uint256 newLtv, uint256 maxOriginationLtv);

Parameters

Name	Type	Description
newLtv	uint256
maxOriginationLtv	uint256

ExceededCollateralBalance

error ExceededCollateralBalance();

MinDebtNotMet

error MinDebtNotMet(uint256 minRequired, uint256 current);

Parameters

Name	Type	Description
minRequired	uint256
current	uint256

InvalidAddress

error InvalidAddress();

InvalidParam

error InvalidParam();

ExpectedNonZero

error ExpectedNonZero();

Paused

error Paused();

CannotLiquidate

error CannotLiquidate();

InvalidDelegationRequests

error InvalidDelegationRequests();

ExceededPreviousLtv

error ExceededPreviousLtv(uint256 oldLtv, uint256 newLtv);

Parameters

Name	Type	Description
oldLtv	uint256
newLtv	uint256

InvalidCollateralDelta

error InvalidCollateralDelta();

ExpiredSignature

error ExpiredSignature(uint256 deadline);

Parameters

Name	Type	Description
deadline	uint256

InvalidNonce

error InvalidNonce(uint256 deadline);

Parameters

Name	Type	Description
deadline	uint256

InvalidSigner

error InvalidSigner(address signer, address owner);

Parameters

Name	Type	Description
signer	address
owner	address

UnauthorizedOnBehalfOf

error UnauthorizedOnBehalfOf();

Structs

AccountState

The record of an individual account's collateral and debt data

struct AccountState {
        /// @notice The amount of gOHM collateral the account has posted
        uint128 collateral;
        /**
         * @notice A checkpoint of user debt, updated after a borrow/repay/liquidation
         * @dev Debt as of now =  (
         *    `account.debtCheckpoint` *
         *    `debtTokenData.interestAccumulator` /
         *    `account.interestAccumulator`
         * )
         */
        uint128 debtCheckpoint;
        /// @notice The account's last interest accumulator checkpoint
        uint256 interestAccumulatorRay;
    }

Properties

Name	Type	Description
collateral	uint128
debtCheckpoint	uint128
interestAccumulatorRay	uint256

Authorization

struct Authorization {
        /// @notice The address of the account granting authorization
        address account;
        /// @notice The address of who is authorized to act on the the accounts behalf
        address authorized;
        /// @notice The unix timestamp that the access is automatically revoked
        uint96 authorizationDeadline;
        /// @notice For replay protection
        uint256 nonce;
        /// @notice A unix timestamp for when the signature is valid until
        uint256 signatureDeadline;
    }

Properties

Name	Type	Description
account	address
authorized	address
authorizationDeadline	uint96
nonce	uint256
signatureDeadline	uint256

Signature

struct Signature {
        uint8 v;
        bytes32 r;
        bytes32 s;
    }

Properties

Name	Type	Description
v	uint8
r	bytes32
s	bytes32

LiquidationStatus

The status for whether an account can be liquidated or not

struct LiquidationStatus {
        /// @notice The amount [in gOHM collateral terms] of collateral which has been provided by the user
        uint128 collateral;
        /// @notice The up to date amount of debt [in debtToken terms]
        uint128 currentDebt;
        /// @notice The current LTV of this account [in debtTokens per gOHM collateral terms]
        uint128 currentLtv;
        /// @notice Has this account exceeded the liquidation LTV
        bool exceededLiquidationLtv;
        /// @notice Has this account exceeded the max origination LTV
        bool exceededMaxOriginationLtv;
        /// @notice A liquidator will receive this amount [in gOHM collateral terms] if
        /// this account is liquidated as of this block
        uint128 currentIncentive;
    }

Properties

Name	Type	Description
collateral	uint128
currentDebt	uint128
currentLtv	uint128
exceededLiquidationLtv	bool
exceededMaxOriginationLtv	bool
currentIncentive	uint128

AccountPosition

An account's collateral and debt position details Provided for UX

struct AccountPosition {
        /// @notice The amount [in gOHM collateral terms] of collateral which has been provided by the user
        /// @dev To 18 decimal places
        uint256 collateral;
        /// @notice The up to date amount of debt
        /// @dev To 18 decimal places
        uint256 currentDebt;
        /// @notice The maximum amount of debtToken's this account can borrow given the
        /// collateral posted, up to `maxOriginationLtv`
        /// @dev To 18 decimal places
        uint256 maxOriginationDebtAmount;
        /// @notice The maximum amount of debtToken's this account can accrue before being
        /// eligable to be liquidated, up to `liquidationLtv`
        /// @dev To 18 decimal places
        uint256 liquidationDebtAmount;
        /// @notice The health factor of this accounts position.
        /// Anything less than 1 can be liquidated, relative to `liquidationLtv`
        /// @dev To 18 decimal places
        uint256 healthFactor;
        /// @notice The current LTV of this account [in debtTokens per gOHM collateral terms]
        /// @dev To 18 decimal places
        uint256 currentLtv;
        /// @notice The total collateral delegated for this user across all delegates
        /// @dev To 18 decimal places
        uint256 totalDelegated;
        /// @notice The current number of addresses this account has delegated to
        uint256 numDelegateAddresses;
        /// @notice The max number of delegates this account is allowed to delegate to
        uint256 maxDelegateAddresses;
    }

Properties

Name	Type	Description
collateral	uint256
currentDebt	uint256
maxOriginationDebtAmount	uint256
liquidationDebtAmount	uint256
healthFactor	uint256
currentLtv	uint256
totalDelegated	uint256
numDelegateAddresses	uint256
maxDelegateAddresses	uint256