IMonoCooler

Git Source

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);

debtToken

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

function debtToken() external view returns (IERC20);

ohm

Unwrapped gOHM

function ohm() external view returns (IERC20);

staking

staking contract to unstake (and burn) OHM from liquidations

function staking() external view returns (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);

totalCollateral

The total amount of collateral posted across all accounts.

To 18 decimal places

function totalCollateral() external view returns (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);

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);

borrowsPaused

Borrows may be paused for emergency actions or deprecating the facility

function borrowsPaused() external view returns (bool);

interestRateWad

The flat interest rate (APR).

Interest (approximately) continuously compounds at this rate.

To 18 decimal places

function interestRateWad() external view returns (uint96);

ltvOracle

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

function ltvOracle() external view returns (ICoolerLtvOracle);

treasuryBorrower

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

function treasuryBorrower() external view returns (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);

interestAccumulatorUpdatedAt

The last time the global debt accumulator was updated

function interestAccumulatorUpdatedAt() external view returns (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);

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);

authorizationNonces

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

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

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);

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

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()

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);

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);

setLtvOracle

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

function setLtvOracle(address newOracle) external;

setTreasuryBorrower

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

function setTreasuryBorrower(address newTreasuryBorrower) external;

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;

setBorrowPaused

Pause any new borrows of debtToken

Can only be called by emergency or admin roles

function setBorrowPaused(bool isPaused) external;

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;

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;

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);

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);

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

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.

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);

accountState

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

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

accountCollateral

An account's current collateral

to 18 decimal places

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

accountDebt

An account's current debt as of this block

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

globalState

A view of the derived/internal cache data.

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

Events

BorrowPausedSet

event BorrowPausedSet(bool isPaused);

LiquidationsPausedSet

event LiquidationsPausedSet(bool isPaused);

InterestRateSet

event InterestRateSet(uint96 interestRateWad);

LtvOracleSet

event LtvOracleSet(address indexed oracle);

TreasuryBorrowerSet

event TreasuryBorrowerSet(address indexed treasuryBorrower);

CollateralAdded

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

CollateralWithdrawn

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

Borrow

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

Repay

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

Liquidated

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

AuthorizationSet

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

Errors

ExceededMaxOriginationLtv

error ExceededMaxOriginationLtv(uint256 newLtv, uint256 maxOriginationLtv);

ExceededCollateralBalance

error ExceededCollateralBalance();

MinDebtNotMet

error MinDebtNotMet(uint256 minRequired, uint256 current);

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);

InvalidCollateralDelta

error InvalidCollateralDelta();

ExpiredSignature

error ExpiredSignature(uint256 deadline);

InvalidNonce

error InvalidNonce(uint256 deadline);

InvalidSigner

error InvalidSigner(address signer, address owner);

UnauthorizedOnBehalfOf

error UnauthorizedOnBehalfOf();

Structs

AccountState

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

struct AccountState {
    uint128 collateral;
    uint128 debtCheckpoint;
    uint256 interestAccumulatorRay;
}

Authorization

struct Authorization {
    address account;
    address authorized;
    uint96 authorizationDeadline;
    uint256 nonce;
    uint256 signatureDeadline;
}

Signature

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

LiquidationStatus

The status for whether an account can be liquidated or not

struct LiquidationStatus {
    uint128 collateral;
    uint128 currentDebt;
    uint128 currentLtv;
    bool exceededLiquidationLtv;
    bool exceededMaxOriginationLtv;
    uint128 currentIncentive;
}

AccountPosition

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

struct AccountPosition {
    uint256 collateral;
    uint256 currentDebt;
    uint256 maxOriginationDebtAmount;
    uint256 liquidationDebtAmount;
    uint256 healthFactor;
    uint256 currentLtv;
    uint256 totalDelegated;
    uint256 numDelegateAddresses;
    uint256 maxDelegateAddresses;
}