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CherrySwap Contract (CherrySwap.sol)

View Source: contracts/CherrySwap.sol

↗ Extends: Initializable, CherryPool

CherrySwap

Create, manage and store all interest rate swaps within the Cherryswap platform. Offers one side of a swap with the other taken by a liquidity pool. The offered rate is a function of the pool demand (utilization) and the current floating rates.

Enums

Bet

enum Bet {
 Short,
 Long
}

Structs

Swap

struct Swap {
 address owner,
 uint256 swapId,
 uint256 startingTime,
 uint256 endingTime,
 uint256 fixedRateOffer,
 uint256 amount,
 uint256 cTokenAmount,
 uint256 reserveAmount,
 uint256 startingcTokenExchangeRate,
 enum CherrySwap.Bet bet
}

Contract Members

Constants & Variables

//internal members
uint256 internal constant MAX_INTEREST_PAID_PER_BLOCK;
uint256 internal constant ALPHA;
uint256 internal constant BETA;
uint256 internal constant RAGE_QUITE_PENALTY;
uint256 internal constant ONE_MONTH_SECONDS;

//public members
struct CherrySwap.Swap[] public swaps;

Events

event CreateLongPosition(address indexed trader, uint256 indexed swapId, uint256  startingTime, uint256  endingTime, uint256  daiAmount, uint256  cDaiAmount, uint256  fixedRate, uint256  amountReserved, uint256  startingcDaiExchRate);
event CreateShortPosition(address indexed trader, uint256 indexed swapId, uint256  startingTime, uint256  endingTime, uint256  daiAmount, uint256  cDaiAmount, uint256  fixedRate, uint256  amountReserved, uint256  startingcDaiExchRate);
event ClosePosition(uint256 indexed swapId, address indexed trader, uint256  cDaiRedeemed, uint256  daiTransfered);
event FixedRateOffer(uint256  rate);

Functions

initialize

⤾ overrides CherryPool.initialize

Initialize contract states

function initialize(address _token, address _cToken, address _cherryMath) public nonpayable initializer

Arguments

Name Type Description
_token address
_cToken address
_cherryMath address

createLongPosition

requires long pool utilization < 100% and enough liquidity in the long pool to cover trader.

function createLongPosition(uint256 _amount) external nonpayable isLongUtilized

Arguments

Name Type Description
_amount uint256 the number of Dai that the buyer will pay for their long position

createShortPosition

requires short pool utlization < 100% and enough liquidity in the short pool to cover trader

function createShortPosition(uint256 _amount) external nonpayable isShortUtilized

Arguments

Name Type Description
_amount uint256 the number of Dai that the buyer will pay for their short position

closePosition

if the time is after the end of the swap then they will receive the swap rate for the duration of the swap and then the floating market rate between the end of the swap and the current time.

function closePosition(uint256 _swapId) external nonpayable
returns(uint256)

Arguments

Name Type Description
_swapId uint256 swap number

tokensToPayTrader

long offer swap where the liquidity pool is short: receiving a fixed rate and paying a floating rate

function tokensToPayTrader(struct CherrySwap.Swap _swap) internal nonpayable
returns(uint256)

Arguments

Name Type Description
_swap struct CherrySwap.Swap

rageQuitSwap

This will eject them from the position, free up liquidity and they walk away with some dai however there is a heavy penalty in doing this!

function rageQuitSwap(uint256 _swapId) external nonpayable
returns(uint256)

Arguments

Name Type Description
_swapId uint256

numSwaps

function numSwaps() public view
returns(uint256)

Arguments

Name Type Description

getFixedRateOffer

calculate the offered fixed rate for swaps taken against the liquidity pool in future this will be updated to consider the size of the positon. for now it's kept simple.

function getFixedRateOffer(enum CherrySwap.Bet bet) public nonpayable
returns(_fixedRateOffer uint256)

Returns

_fixedRateOffer offered fixed rate

Arguments

Name Type Description
bet enum CherrySwap.Bet position bet (long or short)

getFloatingValue

this acts to scale the amount by the change in exchange rate seen by the cToken. If the starting cToken exchange rate is stored and the end rate is known then this function returns the value that _amount has grown by.

function getFloatingValue(uint256 _startingExchangeRate, uint256 _endingExchangeRate, uint256 _amount) public view
returns(uint256)

Returns

swap position valuation

Arguments

Name Type Description
_startingExchangeRate uint256 starting cToken exchange rate
_endingExchangeRate uint256 ending cToken exchange rate
_amount uint256 token amount

Contracts