Vether Pools - Incentivised Liquidity Powered By Vether

Vether Pools is a liquidity pool protocol that allows asset-agnostic provision of liquidity. Traders can swap between assets at arbitrarily low fees, but a liquidity-sensitive fee maximises revenue for stakers during periods of high demand.

Smart Contract

Vether Pools has the following intended design:

Staking

• Stake any asset into any pool
• Move capital between pools (unstake and stake in a single transaction)
• Withdraw partial or full capital from any pool to any asset

Swapping

• Swap from any asset to any asset

Constructor

Base Run plan:

Deploy Base Deploy Utils(base.address) Deploy Dao(base.address, util.address) Deploy router(base.address, util.address) Set Genesis DAO base.changeDAO(Dao.address) Set Genesis Router Dao.setGenesisRouter(router.address)

Vether Nuances

• Does not have DAO address, cannot change DAO.

1. DAO holds UTILS && ROUTER
2. POOL and ROUTER has DAO address
3. Modify DAO to not ask Vether for DAO address
4. TransferOver Method
5. Dao_Vether, Router_Vether, Pool_Vether, Utils_Vether

Deploy Vether Deploy Utils(vether.address) Deploy Dao(vether.address) Deploy router(vether.address)

Utils Genesis DAO utils.setGenesisDao(Dao.address) Dao Genesis Router Dao.setGenesisAddresses(router.address, utils.address) Router Genesis DAO router.setGenesisDao(Dao.address)

Upgrade DAO && Router

Deploy new Dao(vether.address, util.address) Set Genesis DAO utils.setGenesisDao(Dao.address) Deploy new router(vether.address, Dao.address, util.address) Migrate Data to new Router Set Genesis Router Dao.setGenesisRouter(router.address) Vote for new DAO: *

Upgrade DAO && Router

• Deploy Router
• Migrate Data
• Vote Router
• Move Router

Addresses

Kovan

0xdA9e97139937BaD5e6d1d1aBB4C9Ab937a432B7C vether 0x3CF73D6E97cB3A8EA3aEd66E0AE22e0257CD1100 USDT

Version1

0xc93c4a2D15815843fB4cC7b3bD0bec5135c31245 utils 0x5D63b1e364473cDe7bf5Ff13673F0CE8BeaA8de3 Dao 0x252704c3bb1eB9EE3505Bee6985e2935e406fd7d router 0x30925908521cE64FEa1C0371BC7C8535091fF9e1 router2

Version2

0xA490d3ba44b0058FfE3AB6Ff3e262D281c1D8abB utils 0xcB841b295fe7B151AeD65359D2B7BD120f2E1371 Dao 0xBc6f2527B99D26263122cb08Df275954f799347C router 0x9298319b33204655d7c0badd989b857ebb95b5c4 router2

0xf4C5e6046fC4394C26D9C6fE37dF0fF5969F6BF1 vpt-usdt 0xE563Ecdc4c62389A4790106C2C43F1Df2568F9d9 vpt-eth

Version3

0xA490d3ba44b0058FfE3AB6Ff3e262D281c1D8abB utils 0xce25e8C1262f29D72D687F67AeD9A8620d8758FA Dao 0xc490DAdA24D628c5A6a476f00dFef3528D7df434 router

0xEc6e21fdF4D9F660fa4e91ae164d25413B577325 Dao2 0xAc3277BCe7b1f74abC42ce3E8302b62931864bC1 router2

0x25c778E8b62C15Df6586e66f0AC69775199fa5d9 vpt-usdt 0x63933653d869099d5d282f76d6b23692c7d2c32c vpt-eth

Version4

0xec2fA91989e335F616177e4F3A233a69755a5f80 utils 0xCc44719a8bB550505E51BfB38387766eb8fbf16D dao 0xDFBB81D71d5237c17257827e6e62F9764843a462 router

Mainnet

0x4Ba6dDd7b89ed838FEd25d208D4f644106E34279 vether 0x0f216323076dfe029f01B3DeB3bC1682B1ea8A37 utils 0xBDeeE633ABC60660d29a5dA7AD414D6A75754d12 dao 0xe16e64Da1338d8E56dFd8355Ba7642D0A79e253c router

0x2E74525c491954BE67E8847B087ed1c3C988635d utils2 0xAa5CCD27Aba925F6885D7A9AdeB54dFf22185d1C router2

Bugs

• amount in swap
• checkApprovals()

1000000000000000000 // 10**18
1000000000000000000000000 //1m
0x0000000000000000000000000000000000000000
0x95D0C08e59bbC354eE2218Da9F82A04D7cdB6fDF //veth
0x75572098dc462f976127f59f8c97dfa291f81d8b // tkn

0x476B05e742Bd0Eed4C7cba11A8dDA72BE592B549 // math
0xCFE254e64Bb766bDb0998801F7b9F2E6762a92DB // vetherPools-2

ERC-20

Vether Public Get Methods

WIP

Vether Public Transactions

WIP

Core Math

function  calcSwapOutput(uint x, uint X, uint Y) public pure returns (uint output){
        // y = (x * Y * X)/(x + X)^2
        uint numerator = x.mul(Y.mul(X));
        uint denominator = (x.add(X)).mul(x.add(X));
        return numerator.div(denominator);
    }

    function  calcSwapFee(uint x, uint X, uint Y) public pure returns (uint output){
        // y = (x * Y * x) / (x + X)^2
        uint numerator = x.mul(Y.mul(x));
        uint denominator = (x.add(X)).mul(x.add(X));
        return numerator.div(denominator);
    }

    function calcStakeUnits(uint a, uint A, uint v, uint V) public pure returns (uint units){
        // units = ((V + A) * (v * A + V * a))/(4 * V * A)
        // (part1 * (part2 + part3)) / part4
        uint part1 = V.add(A);
        uint part2 = v.mul(A);
        uint part3 = V.mul(a);
        uint numerator = part1.mul((part2.add(part3)));
        uint part4 = 4 * (V.mul(A));
        return numerator.div(part4);
    }

    function calcAsymmetricShare(uint s, uint T, uint A) public pure returns (uint share){
        // share = (s * A * (2 * T^2 - 2 * T * s + s^2))/T^3
        // (part1 * (part2 - part3 + part4)) / part5
        uint part1 = s.mul(A);
        uint part2 = T.mul(T).mul(2);
        uint part3 = T.mul(s).mul(2);
        uint part4 = s.mul(s);
        uint numerator = part1.mul(part2.sub(part3).add(part4));
        uint part5 = T.mul(T).mul(T);
        return numerator.div(part5);
    }

Testing - Buidler

The test suite uses Buidler as the preferred testing suite, since it compiles and tests faster. The test suite implements 7 routines that can be tested individually.

npx buidler compile

Execute all at once:

npx builder test

Or execute individually:

npx builder test/1_coin.js