2 stable releases
1.1.1 | Apr 1, 2024 |
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1.1.0 | Mar 6, 2024 |
#10 in #fee
98KB
1.5K
SLoC
Dexter Protocol :: Weighted Pool
Dexter's Weighted Pool is based on a particular N-dimensional surface which defines a cost function for the exchange of any pair of tokens held in a Pool which was introduced by Balancer. Dexter's weighted pool accepts maximum 9 tokens and the weights cannot be updated once the pool has been initialized.
Unlike pools in other DeFi protocols that only provide 50/50 weightings, Dexter's Weighted Pools enable users to build pools with different token counts and weightings, such as pools with 80/20 or 60/20/20 weightings.
Note - Dexter's weighted pool accepts an exit_fee
parameter during pool initialization. The exit_fee
is the % fee charged to the user when liquidity is withdrawn from the pool. 100% of the exit fee charged is distributed among the LPs of the Pool. exit_fee
cannot be more than 1%.
Contract State
Message | Description |
---|---|
CONFIG |
Stores pool contract's core Configuration parameters in a Config struct |
TWAPINFO |
Stores Twap prices for the tokens supported by the pool in a Twap struct |
MATHCONFIG |
Stores exit_fee and greatest_precision configuration parameters for the pool |
PRECISIONS |
Stores decimal precision for each asset supported by the pool |
WEIGHTS |
Stores normalized weight for each asset supported by the pool |
-
Separating Token Accounting and Pool Logic
The Dexter Pools are responsible only for the math computes which dictate number of tokens to be transferred during swaps / liquidity provisioning events, and do not handle the token transfers themselves. Dexter's Vault queries the Pool contracts to compute how many tokens to transfer and processes those transfers itself.
This separation simplifies pool contracts, since they no longer need to actively manage their assets; pools only need to calculate amounts for swaps, joins, and exits. Anyone who comes up with a novel idea for a trading system can make a custom pool and have it added to Dexter's PoolType Registery via approval from the Dexter DAO instead of needing to build their own Decentralized Exchange.
Supported Execute Messages
Message | Description |
---|---|
ExecuteMsg::UpdateConfig |
Executable only by Dexter Vault's owner. Not supported by the Weighted pool |
ExecuteMsg::UpdateLiquidity |
Executable only by Dexter Vault. Updates locally stored asset balances state in config.assets for the pool and updates the TWAP. |
Supported Query Messages
Message | Description |
---|---|
QueryMsg::Config() |
Returns the stored Vault Configuration settings in custom ConfigResponse struct, including exit_fee and normalized token weights |
QueryMsg::FeeParams() |
Returns the provided PoolType 's Configuration settings in custom FeeResponse struct |
QueryMsg::PoolId() |
Returns Pool ID which is of type Uint128 |
QueryMsg::OnJoinPool( assets_in, mint_amount , slippage_tolerance ) |
Returns AfterJoinResponse type which contains - return_assets info, number of LP shares to be minted, the response of type ResponseType and fee of type Option<Asset> which is the fee to be charged. |
QueryMsg::OnExitPool( assets_out, burn_amount ) |
Returns AfterExitResponse type which contains - assets_out info, number of LP shares to be burnt, the response of type ResponseType and fee of type Option<Asset> which is the fee to be charged. |
QueryMsg::OnSwap( swap_type, offer_asset, ask_asset, amount, max_spread, belief_price ) |
Returns SwapResponse type which contains - trade_params info, the response of type ResponseType and fee of type Option<Asset> which is the fee to be charged. |
QueryMsg::CumulativePrice( swap_type, offer_asset, ask_asset, amount, max_spread, belief_price ) |
Returns information about the cumulative price of the asset in a CumulativePriceResponse object. |
QueryMsg::CumulativePrices( ) |
Returns information about the cumulative prices in a CumulativePricesResponse object. |
Enums & Structs
MathConfig
struct - This struct describes the main math configuration of the weighted-pool.
struct MathConfig {
pub exit_fee: Option<Decimal>,
/// The greatest precision of assets in the pool
pub greatest_precision: u8,
}
WeightedAsset
struct - This struct describes a asset (native or CW20) and its normalized weight
struct WeightedAsset {
/// Information about an asset stored in a [`Asset`] struct
pub asset: Asset,
/// The weight of the asset
pub weight: Decimal,
}
ResponseType
enum - This enum is used to describe if the math computations (joins/exits/swaps) will be successful or not
enum ResponseType {
Success {},
Failure (String),
}
Config
struct - This struct describes the main control config of pool.
struct Config {
/// ID of contract which is allowed to create pools of this type
pub pool_id: Uint128,
/// The address of the LP token associated with this pool
pub lp_token_addr: Option<Addr>,
/// the vault contract address
pub vault_addr: Addr,
/// Assets supported by the pool
pub assets: Vec<Asset>,
/// The pools type (provided in a [`PoolType`])
pub pool_type: PoolType,
/// The Fee details of the pool
pub fee_info: FeeStructs,
/// The block time when pool liquidity was last updated
pub block_time_last: u64,
}
Trade
struct - This helper struct is used for swap operations
struct Trade {
/// The number of tokens to be sent by the user to the Vault
pub amount_in: Uint128,
/// The number of tokens to be received by the user from the Vault
pub amount_out: Uint128,
/// The spread associated with the swap tx
pub spread: Uint128,
}
AfterJoinResponse
struct - Helper struct for QueryMsg::OnJoinPool
struct AfterJoinResponse {
// Is a sorted list consisting of amount of info of tokens which will be provided by the user to the Vault as liquidity
pub provided_assets: Vec<Asset>,
// Is the amount of LP tokens to be minted
pub new_shares: Uint128,
// Is the response type :: Success or Failure
pub response: ResponseType,
// Is the fee to be charged
pub fee: Option<Asset>,
}
AfterExitResponse
struct - Helper struct for QueryMsg::OnExitPool
struct AfterExitResponse {
/// Assets which will be transferred to the recipient against tokens being burnt
pub assets_out: Vec<Asset>,
/// Number of LP tokens to burn
pub burn_shares: Uint128,
/// Operation will be a `Success` or `Failure`
pub response: ResponseType,
/// Fee to be charged
pub fee: Option<Asset>,
}
SwapResponse
struct - Helper struct for QueryMsg::OnSwap
struct SwapResponse {
/// Is of type [`Trade`] which contains all params related with the trade
pub trade_params: Trade,
/// Operation will be a `Success` or `Failure`
pub response: ResponseType,
/// Fee to be charged
pub fee: Option<Asset>,
}
CumulativePriceResponse
struct - Helper struct for QueryMsg::CumulativePrice
struct CumulativePriceResponse {
pub exchange_info: AssetExchangeRate,
pub total_share: Uint128,
}
CumulativePricesResponse
struct - Helper struct for QueryMsg::CumulativePrices
struct CumulativePricesResponse {
pub exchange_info: Vec<AssetExchangeRate>,
pub total_share: Uint128,
}
Build schema and run unit-tests
cargo schema
cargo test
License
TBD
Dependencies
~9MB
~182K SLoC