Ring Protocol
Search…
Welcome to Ring Protocol
User Guide
Protocol Core
Contract Addresses
Protocol Roles
Ring Stablecoin
Protocol Controlled Value
ERC20UniswapPCVDeposit
UniswapPCVDeposit
ERC20UniswapPCVController
Bonding Curves
Oracles
Staking
Genesis
References/Utils
Governance
Ring DAO
Ring
Ring Guardian
Snapshot Voting
Media Kit
Media Kit
Powered By GitBook
ERC20UniswapPCVController
A PCV Controller for reweighting ERC20/RUSD Uniswap prices

Contract

Description

A contract for moving reweighting Uniswap prices to the peg from a Uniswap PCV Deposit. ERC20 specific implementation.

Reweight

Reweights are used to return the Uniswap spot price of an associated PCV Deposit to the peg. The algorithm is as follows:
  1. 1.
    withdraw 99% of the ERC20 from the UniswapPCVDeposit
  2. 2.
    execute a trade with held ERC20 to bring the spot price back up to peg
  3. 3.
    deposit remaining ERC20 balance back into the Uniswap PCV Deposit
  4. 4.
    burn excess held RUSD
Only 99% is withdrawn because if there are no other LPs there could be rounding errors against dust

Reweight eligibility

The reweight is open to a keeper when both of the following conditions are met:
  • the distance from the peg is at least the minimum (initially 1%)
Governor⚖️and Guardian🛡contracts can force a reweight at any time, or update the minimum distance requirement.

Reweight incentives

Reweight executions are incentivized with 500 RUSD if the controller is appointed as a Minter💰. Governance can adjust this incentive amount.
  • Minter💰
  • PCV Controller⚙️

Events

Reweight
PCVDepositUpdate
ReweightIncentiveUpdate
ReweightMinDistanceUpdate
ReweightWithdrawBPsUpdate
A Uniswap Reweight event
type
param
description
address indexed
_caller
the address triggering the reweight
Change the PCV Deposit contract
type
param
description
address indexed
_pcvDeposit
new pcv deposit contract
Change the RUSD reward for reweighting
type
param
description
uint256
_amount
RUSD reward amount
Change the min distance for a reweight
type
param
description
uint256
_basisPoints
Minimum reweight amount in basis points (i.e. 1/10000)
Change the amount of PCV withdrawn during a reweight
type
param
description
uint256
_reweightWithdrawBPs
amount of PCV withdrawn for a reweight in basis point terms (1/10000).

Read-Only Functions

pcvDeposit

1
function pcvDeposit() external returns (IPCVDeposit);
Copied!
Returns the PCV Deposit address this controller focuses on reweighting.

reweightIncentiveAmount

1
function reweightIncentiveAmount() external returns (uint256);
Copied!
Returns the amount of RUSD received by any keeper who successfully executes a reweight.

reweightWithdrawBPs

1
function reweightWithdrawBPs() external returns (uint256);
Copied!
Returns the amount of PCV withdrawn during a reweight in basis points terms.

reweightEligible

1
function reweightEligible() external view returns (bool);
Copied!
Returns true when the distance from the peg is at least the minimum (initially 1%) and it is more than 4 hours since last reweight, otherwise false.

minDistanceForReweight

1
function minDistanceForReweight()
2
external
3
view
4
returns (Decimal.D256 memory);
Copied!
Returns the minimum percent distance from the peg needed for keepers to reweight the peg.

EOA-Only 👤 State-Changing Functions

reweight

1
function reweight() external;
Copied!
Executes a reweight if reweightEligible.
Rewards the caller with 500 RUSD.
This method is pausable​

Governor- Or Guardian-Only⚖️🛡 State-Changing Functions

forceReweight

1
function forceReweight() external;
Copied!
Forces a reweight execution. No RUSD incentive for doing this. Fails if the Uniswap spot price is already at or above the peg.

Governor-Only⚖️ State-Changing Functions

setReweightMinDistance

1
function setReweightMinDistance(uint256 basisPoints) external;
Copied!
Sets the minimum distance from the peg for a reweight to be eligible to basisPoints, measured in basis points (i.e. 1/10000).
emits ReweightMinDistanceUpdate

setReweightWithdrawBPs

1
function setReweightWithdrawBPs(uint256 _reweightWithdrawBPs) external;
Copied!
Sets the percentage of the PCV withdrawn when executing a reweight in terms of basis points
emits ReweightWithdrawBPsUpdate

setPCVDeposit

1
function setPCVDeposit(address _pcvDeposit) external;
Copied!
Sets the target PCV Deposit contract for reweight to _pcvDeposit
emits PCVDepositUpdate

setReweightIncentive

1
function setReweightIncentive(uint256 amount) external;
Copied!
Sets the keeper incentive for executing a reweight to amount of RUSD
emits ReweightIncentiveUpdate

ABIs

erc20uniswappcvcontroller.json
9KB
Code
erc20UniswapPCVController ABI
iuniswappcvcontroller.json
4KB
Code
UniswapPCVController Interface ABI
Previous
UniswapPCVDeposit
Next - Protocol Core
Bonding Curves
Last modified 7mo ago
Copy link
Contents
Contract
Description
Reweight
Reweight eligibility
Reweight incentives
Access Control
Events
Read-Only Functions
pcvDeposit
reweightIncentiveAmount
reweightWithdrawBPs
reweightEligible
minDistanceForReweight
EOA-Only 👤 State-Changing Functions
reweight
Governor- Or Guardian-Only⚖️🛡 State-Changing Functions
forceReweight
Governor-Only⚖️ State-Changing Functions
setReweightMinDistance
setReweightWithdrawBPs
setPCVDeposit
setReweightIncentive
ABIs