off-chain improvements

README.md

@@ -170,6 +170,10 @@ function totalAssets() public view virtual returns (uint256);
 function asset() external view virtual returns (address);
 ```
 
+## Lending Platforms
+
+The ARM token can be used as collateral on lending platforms to borrow other assets. The ARM token can not be borrowed on lending platforms as the ARM's price, or assets per share, can be increased by donating assets to the ARM. eg donating WETH or stETH to the Lido ARM will increase the ARM's token price. Increasing the price of a borrowed asset increases the borrower's loan to value (LTV) ratio which can lead to a liquidation.
+
 ## Development
 
 ### Install

build/deployments-1.json

@@ -1,44 +1,44 @@
 {
-    "executions": {
-        "001_CoreMainnet": 1723685111,
-        "002_UpgradeMainnet": 1726812322,
-        "003_UpgradeLidoARMScript": 1729073099,
-        "004_UpdateCrossPriceScript": 1739872139,
-        "005_RegisterLidoWithdrawalsScript": 1743500783,
-        "006_ChangeFeeCollector": 1751894483,
-        "007_UpgradeLidoARMMorphoScript": 1754407511,
-        "008_DeployPendleAdaptor": 1755770279,
-        "009_UpgradeLidoARMSetBufferScript": 1755692363,
-        "010_UpgradeLidoARMAssetScript": 1764755147,
-        "011_DeployEtherFiARMScript": 1761812927,
-        "012_UpgradeEtherFiARMScript": 1763557643,
-        "013_UpgradeOETHARMScript": 1765353347,
-        "014_DeployEthenaARMScript": 1764664655
-    },
-    "contracts": {
-        "ARM_ZAPPER": "0xE11EDbd5AE4Fa434Af7f8D7F03Da1742996e7Ab2",
-        "ETHENA_ARM": "0xCEDa2d856238aA0D12f6329de20B9115f07C366d",
-        "ETHENA_ARM_CAP_IMPL": "0x7073F39ae371962C2469D72f01f907375bB11E08",
-        "ETHENA_ARM_CAP_MAN": "0x687AFB5A52A15122fD5FC54A8B52cfd58346fb0C",
-        "ETHENA_ARM_IMPL": "0x6c181f2CA4224e42Cee8Fc7199c060261AD55d7d",
-        "ETHERFI_ARM_IMPL": "0x69b98667134EeE3eBF75799dacBCd604E28709ab",
-        "ETHER_FI_ARM": "0xfB0A3CF9B019BFd8827443d131b235B3E0FC58d2",
-        "ETHER_FI_ARM_CAP_IMPL": "0xe27720Fc3f3707D47015e274D81a99e5B0800472",
-        "ETHER_FI_ARM_CAP_MAN": "0xf2A18F7330141Ec737EB73A0A5Ea8E4d7e9bE7ec",
-        "ETHER_FI_ARM_IMPL": "0x00B53CEE151c043CBe4bbFe4cfD2938Cb4fabCEB",
-        "LIDO_ARM": "0x85B78AcA6Deae198fBF201c82DAF6Ca21942acc6",
-        "LIDO_ARM_CAP_IMPL": "0x8506486813d025C5935dF481E450e27D2e483dc9",
-        "LIDO_ARM_CAP_MAN": "0xf54ebff575f699d281645c6F14Fe427dFFE629CF",
-        "LIDO_ARM_IMPL": "0xC0297a0E39031F09406F0987C9D9D41c5dfbc3df",
-        "LIDO_ARM_ZAPPER": "0x01F30B7358Ba51f637d1aa05D9b4A60f76DAD680",
-        "MORPHO_MARKET_ETHERFI": "0x8Cf42b82fFFa3E7714D62a2cA223acBeC1Eef095",
-        "MORPHO_MARKET_ETHERFI_IMPL": "0x2a1b59870f7806E60dF58415B0C220C096f57658",
-        "MORPHO_MARKET_MEVCAPITAL": "0x29c4Bb7B1eBcc53e8CBd16480B5bAe52C69806D3",
-        "MORPHO_MARKET_MEVCAPITAL_IMP": "0x90c7ABC962f96de171ee395A242D2Ff794D0a04c",
-        "MORPHO_MARKET_ORIGIN": "0x0ad39D67404aE36Fe476eFDDE1306a5414383544",
-        "MORPHO_MARKET_ORIGIN_IMPL": "0x2ea9D1827973813D77aA8f35BD23cb1F1311A648",
-        "OETH_ARM": "0x6bac785889A4127dB0e0CeFEE88E0a9F1Aaf3cC7",
-        "OETH_ARM_IMPL": "0x9A2be51E45Eec98F75b3e6e1b334246c94663641",
-        "PENDLE_ORIGIN_ARM_SY": "0xbcae2Eb1cc47F137D8B2D351B0E0ea8DdA4C6184"
-    }
-}
+  "executions": {
+    "001_CoreMainnet": 1723685111,
+    "002_UpgradeMainnet": 1726812322,
+    "003_UpgradeLidoARMScript": 1729073099,
+    "004_UpdateCrossPriceScript": 1739872139,
+    "005_RegisterLidoWithdrawalsScript": 1743500783,
+    "006_ChangeFeeCollector": 1751894483,
+    "007_UpgradeLidoARMMorphoScript": 1754407511,
+    "008_DeployPendleAdaptor": 1755770279,
+    "009_UpgradeLidoARMSetBufferScript": 1755692363,
+    "010_UpgradeLidoARMAssetScript": 1764755147,
+    "011_DeployEtherFiARMScript": 1761812927,
+    "012_UpgradeEtherFiARMScript": 1763557643,
+    "013_UpgradeOETHARMScript": 1765353347,
+    "014_DeployEthenaARMScript": 1764664655
+  },
+  "contracts": {
+    "ARM_ZAPPER": "0xE11EDbd5AE4Fa434Af7f8D7F03Da1742996e7Ab2",
+    "ETHENA_ARM": "0xCEDa2d856238aA0D12f6329de20B9115f07C366d",
+    "ETHENA_ARM_CAP_IMPL": "0x7073F39ae371962C2469D72f01f907375bB11E08",
+    "ETHENA_ARM_CAP_MAN": "0x687AFB5A52A15122fD5FC54A8B52cfd58346fb0C",
+    "ETHENA_ARM_IMPL": "0x6c181f2CA4224e42Cee8Fc7199c060261AD55d7d",
+    "ETHERFI_ARM_IMPL": "0x69b98667134EeE3eBF75799dacBCd604E28709ab",
+    "ETHER_FI_ARM": "0xfB0A3CF9B019BFd8827443d131b235B3E0FC58d2",
+    "ETHER_FI_ARM_CAP_IMPL": "0xe27720Fc3f3707D47015e274D81a99e5B0800472",
+    "ETHER_FI_ARM_CAP_MAN": "0xf2A18F7330141Ec737EB73A0A5Ea8E4d7e9bE7ec",
+    "ETHER_FI_ARM_IMPL": "0x00B53CEE151c043CBe4bbFe4cfD2938Cb4fabCEB",
+    "LIDO_ARM": "0x85B78AcA6Deae198fBF201c82DAF6Ca21942acc6",
+    "LIDO_ARM_CAP_IMPL": "0x8506486813d025C5935dF481E450e27D2e483dc9",
+    "LIDO_ARM_CAP_MAN": "0xf54ebff575f699d281645c6F14Fe427dFFE629CF",
+    "LIDO_ARM_IMPL": "0xC0297a0E39031F09406F0987C9D9D41c5dfbc3df",
+    "LIDO_ARM_ZAPPER": "0x01F30B7358Ba51f637d1aa05D9b4A60f76DAD680",
+    "MORPHO_MARKET_ETHERFI": "0x8Cf42b82fFFa3E7714D62a2cA223acBeC1Eef095",
+    "MORPHO_MARKET_ETHERFI_IMPL": "0x2a1b59870f7806E60dF58415B0C220C096f57658",
+    "MORPHO_MARKET_MEVCAPITAL": "0x29c4Bb7B1eBcc53e8CBd16480B5bAe52C69806D3",
+    "MORPHO_MARKET_MEVCAPITAL_IMP": "0x90c7ABC962f96de171ee395A242D2Ff794D0a04c",
+    "MORPHO_MARKET_ORIGIN": "0x0ad39D67404aE36Fe476eFDDE1306a5414383544",
+    "MORPHO_MARKET_ORIGIN_IMPL": "0x2ea9D1827973813D77aA8f35BD23cb1F1311A648",
+    "ORIGIN_ARM": "0x6bac785889A4127dB0e0CeFEE88E0a9F1Aaf3cC7",
+    "ORIGIN_ARM_IMPL": "0x9A2be51E45Eec98F75b3e6e1b334246c94663641",
+    "PENDLE_ORIGIN_ARM_SY": "0xbcae2Eb1cc47F137D8B2D351B0E0ea8DdA4C6184"
+  }
+}

src/js/actions/allocateOETH.js

@@ -0,0 +1,33 @@
+const { Defender } = require("@openzeppelin/defender-sdk");
+const { ethers } = require("ethers");
+
+const { allocate } = require("../tasks/admin");
+const { mainnet } = require("../utils/addresses");
+const armAbi = require("../../abis/OriginARM.json");
+
+// Entrypoint for the Defender Action
+const handler = async (event) => {
+  // Initialize defender relayer provider and signer
+  const client = new Defender(event);
+  const provider = client.relaySigner.getProvider({ ethersVersion: "v6" });
+  const signer = await client.relaySigner.getSigner(provider, {
+    speed: "fastest",
+    ethersVersion: "v6",
+  });
+
+  console.log(
+    `DEBUG env var in handler before being set: "${process.env.DEBUG}"`,
+  );
+
+  // References to contracts
+  const arm = new ethers.Contract(mainnet.OethARM, armAbi, signer);
+
+  await allocate({
+    signer,
+    arm,
+    threshold: 10000,
+    maxGasPrice: 500,
+  });
+};
+
+module.exports = { handler };

src/js/actions/autoClaimWithdraw.js

@@ -1,7 +1,7 @@
 const { Defender } = require("@openzeppelin/defender-sdk");
 const { ethers } = require("ethers");
 
-const { autoClaimWithdraw } = require("../tasks/liquidity");
+const { autoClaimWithdraw } = require("../tasks/liquidityAutomation");
 const { mainnet } = require("../utils/addresses");
 const erc20Abi = require("../../abis/ERC20.json");
 const oethARMAbi = require("../../abis/OethARM.json");

src/js/actions/autoRequestWithdraw.js

@@ -1,7 +1,7 @@
 const { Defender } = require("@openzeppelin/defender-sdk");
 const { ethers } = require("ethers");
 
-const { autoRequestWithdraw } = require("../tasks/liquidity");
+const { autoRequestWithdraw } = require("../tasks/liquidityAutomation");
 const { mainnet } = require("../utils/addresses");
 const erc20Abi = require("../../abis/ERC20.json");
 const oethARMAbi = require("../../abis/OethARM.json");
@@ -21,14 +21,14 @@ const handler = async (event) => {
   );
 
   // References to contracts
-  const asset = new ethers.Contract(mainnet.OETHProxy, erc20Abi, signer);
+  const baseAsset = new ethers.Contract(mainnet.OETHProxy, erc20Abi, signer);
   const arm = new ethers.Contract(mainnet.OethARM, oethARMAbi, signer);
 
   await autoRequestWithdraw({
     signer,
-    asset,
+    baseAsset,
     arm,
-    minAmount: 1,
+    minAmount: 5,
     confirm: true,
   });
 };

src/js/actions/collectEtherFiFees.js

@@ -3,7 +3,7 @@ const { ethers } = require("ethers");
 
 const { collectFees } = require("../tasks/admin");
 const { mainnet } = require("../utils/addresses");
-const etherFiARMAbi = require("../../abis/EtherFiARM.json");
+const armAbi = require("../../abis/EtherFiARM.json");
 
 // Entrypoint for the Defender Action
 const handler = async (event) => {
@@ -20,7 +20,7 @@ const handler = async (event) => {
   );
 
   // References to contracts
-  const arm = new ethers.Contract(mainnet.etherfiARM, etherFiARMAbi, signer);
+  const arm = new ethers.Contract(mainnet.etherfiARM, armAbi, signer);
 
   await collectFees({
     signer,

src/js/actions/collectOETHFees.js

@@ -0,0 +1,31 @@
+const { Defender } = require("@openzeppelin/defender-sdk");
+const { ethers } = require("ethers");
+
+const { collectFees } = require("../tasks/admin");
+const { mainnet } = require("../utils/addresses");
+const armAbi = require("../../abis/OriginARM.json");
+
+// Entrypoint for the Defender Action
+const handler = async (event) => {
+  // Initialize defender relayer provider and signer
+  const client = new Defender(event);
+  const provider = client.relaySigner.getProvider({ ethersVersion: "v6" });
+  const signer = await client.relaySigner.getSigner(provider, {
+    speed: "fastest",
+    ethersVersion: "v6",
+  });
+
+  console.log(
+    `DEBUG env var in handler before being set: "${process.env.DEBUG}"`,
+  );
+
+  // References to contracts
+  const arm = new ethers.Contract(mainnet.OethARM, armAbi, signer);
+
+  await collectFees({
+    signer,
+    arm,
+  });
+};
+
+module.exports = { handler };

src/js/actions/rollup.config.cjs

@@ -49,14 +49,17 @@ const actions = [
   "collectFeesSonic",
   "collectEtherFiFees",
   "collectEthenaFees",
-  "allocateSonic",
+  "collectOETHFees",
   "collectRewardsSonic",
-  "setPrices",
-  "setPricesEtherFi",
-  "setOSSiloPriceAction",
   "allocateLido",
   "allocateEtherFi",
   "allocateEthena",
+  "allocateOETH",
+  "allocateSonic",
+  "setOSSiloPriceAction",
+  "setPrices",
+  "setPricesEtherFi",
+  "setPricesOETH",
 ];
 
 module.exports = actions.map((action) => ({

src/js/actions/setPricesOETH.js

@@ -0,0 +1,50 @@
+const { Defender } = require("@openzeppelin/defender-sdk");
+const { ethers } = require("ethers");
+
+const { setPrices } = require("../tasks/lidoMorphoPrices");
+const { mainnet } = require("../utils/addresses");
+const armAbi = require("../../abis/OriginARM.json");
+
+// Entrypoint for the Defender Action
+const handler = async (event) => {
+  // Initialize defender relayer provider and signer
+  const client = new Defender(event);
+  const provider = client.relaySigner.getProvider({ ethersVersion: "v6" });
+  const signer = await client.relaySigner.getSigner(provider, {
+    speed: "fastest",
+    ethersVersion: "v6",
+  });
+
+  console.log(
+    `DEBUG env var in handler before being set: "${process.env.DEBUG}"`,
+  );
+
+  // References to contracts
+  const arm = new ethers.Contract(mainnet.etherfiARM, armAbi, signer);
+
+  try {
+    await setPrices({
+      signer,
+      arm,
+      // sellPrice: 0.9998,
+      // buyPrice: 0.9997,
+      maxSellPrice: 0.9999,
+      minSellPrice: 0.9995,
+      maxBuyPrice: 0.9995,
+      minBuyPrice: 0.996,
+      // inch: true,
+      // curve: true,
+      kyber: true,
+      amount: 10,
+      tolerance: 0.3,
+      fee: 5,
+      offset: 1.0,
+      priceOffset: true,
+      blockTag: "latest",
+    });
+  } catch (error) {
+    console.error(error);
+  }
+};
+
+module.exports = { handler };

src/js/tasks/admin.js

@@ -37,7 +37,7 @@ async function allocate({
   }
 
   // 1. Call the allocate static call to get the return values
-  // Returned value can be either a single int256 or a tuple of two int256 values
+  // Returned value is a tuple of two int256 values
   let liquidityDelta;
   [, liquidityDelta] = await arm.allocate.staticCall();
 
@@ -60,21 +60,14 @@ async function allocate({
     if (activeMarketAddress !== ethers.ZeroAddress) {
       const activeMarket = new ethers.Contract(
         activeMarketAddress,
-        ["function market() external view returns (address)"],
-        signer,
-      );
-
-      // Get the underlying ERC-4626 vault. eg Silo or Morpho Vault
-      const underlyingVaultAddress = await activeMarket.market();
-      const underlyingVault = new ethers.Contract(
-        underlyingVaultAddress,
         ["function maxWithdraw(address) external view returns (uint256)"],
         signer,
       );
 
       // Check there is liquidity available to withdraw from the lending market
-      const availableAssets =
-        await underlyingVault.maxWithdraw(activeMarketAddress);
+      const availableAssets = await activeMarket.maxWithdraw(
+        await arm.getAddress(),
+      );
       if (availableAssets < parseUnits("0.01", 18)) {
         log(
           `Only ${formatUnits(availableAssets)} liquidity available in the active lending market, skipping allocation`,
@@ -84,16 +77,17 @@ async function allocate({
     }
   }
 
-  // Add 10% buffer to gas limit
-  let gasLimit = await arm.connect(signer).allocate.estimateGas();
-  gasLimit = (gasLimit * 11n) / 10n;
-
   log(
     `About to allocate ${formatUnits(
       liquidityDelta,
     )} to/from the active lending market`,
   );
+
   if (execute) {
+    // Add 10% buffer to gas limit
+    let gasLimit = await arm.connect(signer).allocate.estimateGas();
+    gasLimit = (gasLimit * 11n) / 10n;
+
     const tx = await arm.connect(signer).allocate({ gasLimit });
     await logTxDetails(tx, "allocate");
   }

src/js/tasks/lido.js

@@ -11,6 +11,7 @@ const {
 } = require("./markets");
 const { getBlock } = require("../utils/block");
 const { getLidoQueueData } = require("../utils/lido");
+const { getMerklRewards } = require("../utils/merkl");
 const { getSigner } = require("../utils/signers");
 const { logTxDetails } = require("../utils/txLogger");
 const {
@@ -226,7 +227,7 @@ const logAssets = async (arm, blockTag) => {
   let lendingMarketBalance = 0n;
   // Get the lending market from the active market
   // Atm we use a hardcoded address, but this should be replaced with a call to the active market once the ARM is upgraded
-  let marketAddress = "0x29c4Bb7B1eBcc53e8CBd16480B5bAe52C69806D3"; //await arm.activeMarket({ blockTag });
+  let marketAddress = await arm.activeMarket({ blockTag });
   if (marketAddress != addresses.zero) {
     const marketContract = await ethers.getContractAt(
       "Abstract4626MarketWrapper",
@@ -269,6 +270,10 @@ const logAssets = async (arm, blockTag) => {
   const buffer = await arm.armBuffer({ blockTag });
   const bufferPercent = (buffer * 10000n) / parseUnits("1");
 
+  const { amount: morphoRewards } = await getMerklRewards({
+    userAddress: marketAddress,
+  });
+
   console.log(`Assets`);
   console.log(`liquidity buffer ${formatUnits(bufferPercent, 2)}%`);
   console.log(
@@ -303,6 +308,7 @@ const logAssets = async (arm, blockTag) => {
   console.log(
     `${formatUnits(wethInStrategist, 18).padEnd(24)} WETH in Strategist (fees)`,
   );
+  console.log(`${formatUnits(morphoRewards, 18)} MORPHO rewards claimable`);
 
   return { totalAssets, totalSupply, liquidityWeth };
 };