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Trading Pool contracts + Vault new structure (Overview + Developers section)
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simsbluebox
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## 🎮 Developers
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* [Environments](developers/environments/README.md)
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* [Networks](developers/environments/README.md)
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* [Mainnet](developers/environments/mainnet.md)
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* [Token List](developers/environments/token-list.md)
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* [Testnet](developers/environments/testnet.md)
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* [AMM Pool Mapping](developers/environments/amm-pool-mapping.md)
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* [Smart Contracts](developers/smart-contracts/README.md)
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* [Protocol Contracts](developers/smart-contracts/README.md)
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* [amm-pool-v2-01.clar](developers/smart-contracts/amm-pool-v2-01.clar.md)
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* [amm-registry-v2-01.clar](developers/smart-contracts/amm-registry-v2-01.clar.md)
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* [amm-vault-v2-01.clar](developers/smart-contracts/amm-vault-v2-01.clar.md)
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<mark style="color:green;">Demo note: this document seems to be outdated. We propose to remove it.</mark>
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# AMM Pool Mapping
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Below table maps the pool listed on [https://app.alexlab.co/pool](https://app.alexlab.co/pool) to smart contracts with the relevant parameters
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## Pool Types
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We have three smart contracts in production that provide AMM.
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### Trading Pool
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[Trading Pool](../../trading-lending-and-borrowing/trading-pool/) is the latest AMM smart contract that developers should use whenever possible.
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Trading Pool implements Generalised Mean Equation and, with a suitable parameterisation, supports both risky pairs (i.e. $$x y=L$$), stable pairs (i.e. $$x +y=L$$) and any linear combination in-between (i.e. Curve).
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Trading Pool is parameterised with a single parameter $$t$$. $$t$$ can be between 0 and 1, with $$t=1$$ being equivalent of constant product formula (i.e. Uniswap V2) and $$t=0$$ being equivalent of constant sum formula (i.e. mStable). $$0<t <1$$ then gives a Curve-like formula.
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#### Contract address
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`SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.amm-swap-pool-v1-1`
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### Fixed Weight Pool
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Fixed Weight Pool is based on Balancer and allows to create AMM pools with custom (i.e. non equal-weight), fixed-weight, pools.
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Fixed Weight Pool has been deprecated since the introduction of [Trading Pool](amm-pool-mapping.md#trading-pool).
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#### Contract address
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`SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.fixed-weight-pool-v1-01`
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### Simple Weight Pool
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Simple Weight Pool supports the constant product formula (i.e. $$x y=L$$).
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Simple Weight Pool has been deprecated since the introduction of [Trading Pool](amm-pool-mapping.md#trading-pool).
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#### Contract address
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`SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.simple-weight-pool-alex`
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## AMM Pools
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### STX-xBTC-1
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wbtc`
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* `factor`: 1e8
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### STX-sUSDT-1
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-susdt`
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* `factor`: 1e8
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### STX-ALEX-1
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token`
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* `factor`: 1e8
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### ALEX-ATALEXV2-1
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.auto-alex-v2`
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* `factor`: 1e8
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### ALEX-DIKO-1
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wdiko`
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* `factor`: 1e8
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### STX-VIBES-1
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wvibes`
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* `factor`: 1e8
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### STX-ALEX-50-50
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**Smart Contract**: [Fixed Weight Pool](amm-pool-mapping.md#fixed-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token`
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* `weight-x`: 0.5e8
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* `weight-y`: 0.5e8
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### STX-xBTC-50-50
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**Smart Contract**: [Fixed Weight Pool](amm-pool-mapping.md#fixed-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wbtc`
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* `weight-x`: 0.5e8
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* `weight-y`: 0.5e8
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### STX-xUSD-50-50
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**Smart Contract**: [Fixed Weight Pool](amm-pool-mapping.md#fixed-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wxusd`
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* `weight-x`: 0.5e8
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* `weight-y`: 0.5e8
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### xUSD-USDA-0.005
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wxusd`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wusda`
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* `factor`: 0.005e8
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### ALEX-USDA-50-50
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**Smart Contract**: [Simple Weight Pool](amm-pool-mapping.md#simple-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wusda`
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### STX-CORGI-1
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**Smart Contract**: [Trading Pool](amm-pool-mapping.md#trading-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wcorgi`
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* `factor`: 1e8
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### STX-MIA-50-50
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**Smart Contract**: [Fixed Weight Pool](amm-pool-mapping.md#fixed-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wmia`
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* `weight-x`: 0.5e8
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* `weight-y`: 0.5e8
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### STX-NYCC-50-50
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**Smart Contract**: [Fixed Weight Pool](amm-pool-mapping.md#fixed-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wstx`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wnycc`
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* `weight-x`: 0.5e8
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* `weight-y`: 0.5e8
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### ALEX-BANABA-50-50
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**Smart Contract**: [Simple Weight Pool](amm-pool-mapping.md#simple-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wban`
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### ALEX-SLIME-50-50
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**Smart Contract**: [Simple Weight Pool](amm-pool-mapping.md#simple-weight-pool)
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#### Parameters
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* `token-x`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token`
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* `token-y`: `SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-wslm`
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# Smart Contracts
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For the complete token list and the pool mapping, see [Token List](token-list.md) and [AMM Pool Mapping](amm-pool-mapping.md).
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## Deployed Protocol Contracts
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<table><thead><tr><th width="167">Contract</th><th>Address</th></tr></thead><tbody><tr><td>DAO</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.executor-dao</td></tr><tr><td>Vault</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.alex-vault</td></tr><tr><td>Reserve Pool</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.alex-reserve-pool</td></tr><tr><td>Launchpad</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.alex-launchpad-v1-1</td></tr><tr><td>Lottery</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.alex-lottery</td></tr><tr><td>Trading Pool</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.amm-swap-pool-v1-1</td></tr><tr><td>Fixed Weight Pool</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.fixed-weight-pool-v1-01</td></tr><tr><td>Simple Weight Pool</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.simple-weight-pool-alex</td></tr><tr><td>Swap Router</td><td>(to route between Fixed Weight Pool and Simple Weight Pool)<br>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.swap-helper-v1-03</td></tr><tr><td>Swap Bridge </td><td>(to route between Trading Pool and Fixed Weight Pool / Simple Weight Pool)<br>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.swap-helper-bridged</td></tr><tr><td>ALEX Token</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.age000-governance-token</td></tr><tr><td>autoALEX Token</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.auto-alex</td></tr><tr><td>Bridge Endpoint</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.bridge-endpoint-v1-01</td></tr><tr><td>sUSDT</td><td>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.token-susdt</td></tr></tbody></table>
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## Token List
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Where applicable, ALEX uses "wrapped" token to ensure certain functionalities (mainly the support for the fixed notation) are added to the native, 3rd-party, tokens.
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These "wrapped" tokens do not hold any native tokens, but are "pass-throughs". They call the relevant functions of the native tokens (e.g. `transfer`) to complete the user requests, but ensure these are done in a consistent manner across all tokens handled by ALEX.
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<table><thead><tr><th width="154">Token</th><th>Address</th></tr></thead><tbody><tr><td>STX</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wstx-v2</code></td></tr><tr><td>ALEX</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-alex</code></td></tr><tr><td>xBTC</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wxbtc</code></td></tr><tr><td>sUSDT</td><td><code>SP2XD7417HGPRTREMKF748VNEQPDRR0RMANB7X1NK.token-susdt</code></td></tr><tr><td>xUSD</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wxusd</code></td></tr><tr><td>autoALEX</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.auto-alex-v3</code></td></tr><tr><td>USDA</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wusda</code></td></tr><tr><td>DIKO</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wdiko</code></td></tr><tr><td>MIA</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wmia</code></td></tr><tr><td>NYC</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wnyc</code></td></tr><tr><td>BANANA</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wban</code></td></tr><tr><td>SLIME</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wslm</code></td></tr><tr><td>WELSH</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wcorgi</code></td></tr><tr><td>VIBES</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wvibes</code></td></tr></tbody></table>
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### BRC20 Tokens
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BRC20 tokens on ALEX represent those BRC20 tokens that are pegged in from Bitcoin.
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|
||||
<table><thead><tr><th width="161">Token</th><th>Address</th></tr></thead><tbody><tr><td>$B20</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-db20</code></td></tr><tr><td>MAXI</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-maxi</code></td></tr><tr><td>SHNT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-shnt</code></td></tr><tr><td>PIZA</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-piza</code></td></tr><tr><td>LONG</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-long</code></td></tr><tr><td>INSC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-insc</code></td></tr><tr><td>MAJO</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-majo</code></td></tr><tr><td>DEXM</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-dexm</code></td></tr><tr><td>ATMT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-aiptp</code></td></tr><tr><td>CVLT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-cvlt</code></td></tr><tr><td>LBOW</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-lbow</code></td></tr><tr><td>SBTC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-sbtc</code></td></tr><tr><td>OXBT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-oxbt</code></td></tr><tr><td>₿</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-spacesignb</code></td></tr><tr><td>ORDS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-ords</code></td></tr><tr><td>NYTO</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-nyto</code></td></tr><tr><td>BENG</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-beng</code></td></tr><tr><td>TRAC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-trac</code></td></tr><tr><td>SATS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-sats</code></td></tr><tr><td>TARO</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-taro</code></td></tr><tr><td>10MM</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-10mm</code></td></tr><tr><td>PEPE</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-pepe</code></td></tr><tr><td>VMPX</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-vmpx</code></td></tr><tr><td>@LFG</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-atlfg</code></td></tr><tr><td>ORDI</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-ordi</code></td></tr><tr><td>$BIT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-dbit</code></td></tr><tr><td>MXRC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-mxrc</code></td></tr><tr><td>IGLI</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-igli</code></td></tr><tr><td>OHMS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-ohms</code></td></tr><tr><td>JAKE</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-jake</code></td></tr><tr><td>MEME</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-meme</code></td></tr><tr><td>NALS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-nals</code></td></tr><tr><td>XING</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-xing</code></td></tr><tr><td>BANK</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-bank</code></td></tr><tr><td>PASS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-pass</code></td></tr><tr><td>WZRD</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-wzrd</code></td></tr><tr><td>MOON</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-moon</code></td></tr><tr><td>DRAC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-drac</code></td></tr><tr><td>LOVE</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-love</code></td></tr><tr><td>ZBIT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-zbit</code></td></tr></tbody></table>
|
||||
|
||||
@@ -1,13 +0,0 @@
|
||||
# Token List
|
||||
|
||||
Where applicable, ALEX uses "wrapped" token to ensure certain functionalities (mainly the support for the fixed notation) are added to the native, 3rd-party, tokens.
|
||||
|
||||
These "wrapped" tokens do not hold any native tokens, but are "pass-throughs". They call the relevant functions of the native tokens (e.g. `transfer`) to complete the user requests, but ensure these are done in a consistent manner across all tokens handled by ALEX.
|
||||
|
||||
<table><thead><tr><th width="154">Token</th><th>Address</th></tr></thead><tbody><tr><td>STX</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wstx-v2</code></td></tr><tr><td>ALEX</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-alex</code></td></tr><tr><td>xBTC</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wxbtc</code></td></tr><tr><td>sUSDT</td><td><code>SP2XD7417HGPRTREMKF748VNEQPDRR0RMANB7X1NK.token-susdt</code></td></tr><tr><td>xUSD</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wxusd</code></td></tr><tr><td>autoALEX</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.auto-alex-v3</code></td></tr><tr><td>USDA</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wusda</code></td></tr><tr><td>DIKO</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wdiko</code></td></tr><tr><td>MIA</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wmia</code></td></tr><tr><td>NYC</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wnyc</code></td></tr><tr><td>BANANA</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wban</code></td></tr><tr><td>SLIME</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wslm</code></td></tr><tr><td>WELSH</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wcorgi</code></td></tr><tr><td>VIBES</td><td><code>SP102V8P0F7JX67ARQ77WEA3D3CFB5XW39REDT0AM.token-wvibes</code></td></tr></tbody></table>
|
||||
|
||||
## BRC20 Tokens
|
||||
|
||||
BRC20 tokens on ALEX represent those BRC20 tokens that are pegged in from Bitcoin.
|
||||
|
||||
<table><thead><tr><th width="161">Token</th><th>Address</th></tr></thead><tbody><tr><td>$B20</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-db20</code></td></tr><tr><td>MAXI</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-maxi</code></td></tr><tr><td>SHNT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-shnt</code></td></tr><tr><td>PIZA</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-piza</code></td></tr><tr><td>LONG</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-long</code></td></tr><tr><td>INSC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-insc</code></td></tr><tr><td>MAJO</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-majo</code></td></tr><tr><td>DEXM</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-dexm</code></td></tr><tr><td>ATMT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-aiptp</code></td></tr><tr><td>CVLT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-cvlt</code></td></tr><tr><td>LBOW</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-lbow</code></td></tr><tr><td>SBTC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-sbtc</code></td></tr><tr><td>OXBT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-oxbt</code></td></tr><tr><td>₿</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-spacesignb</code></td></tr><tr><td>ORDS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-ords</code></td></tr><tr><td>NYTO</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-nyto</code></td></tr><tr><td>BENG</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-beng</code></td></tr><tr><td>TRAC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-trac</code></td></tr><tr><td>SATS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-sats</code></td></tr><tr><td>TARO</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-taro</code></td></tr><tr><td>10MM</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-10mm</code></td></tr><tr><td>PEPE</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-pepe</code></td></tr><tr><td>VMPX</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-vmpx</code></td></tr><tr><td>@LFG</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-atlfg</code></td></tr><tr><td>ORDI</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-ordi</code></td></tr><tr><td>$BIT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-dbit</code></td></tr><tr><td>MXRC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-mxrc</code></td></tr><tr><td>IGLI</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-igli</code></td></tr><tr><td>OHMS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-ohms</code></td></tr><tr><td>JAKE</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-jake</code></td></tr><tr><td>MEME</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-meme</code></td></tr><tr><td>NALS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-nals</code></td></tr><tr><td>XING</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-xing</code></td></tr><tr><td>BANK</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-bank</code></td></tr><tr><td>PASS</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-pass</code></td></tr><tr><td>WZRD</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-wzrd</code></td></tr><tr><td>MOON</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-moon</code></td></tr><tr><td>DRAC</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-drac</code></td></tr><tr><td>LOVE</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-love</code></td></tr><tr><td>ZBIT</td><td><code>SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9.brc20-zbit</code></td></tr></tbody></table>
|
||||
@@ -1,29 +1,34 @@
|
||||
<mark style="color:green;">Demo note: this bridge document will be reworked as an overall ALEXGO inventory (not only the trading pool contracts).</mark>
|
||||
# ALEX DAO: Comprehensive Technical Design Overview
|
||||
|
||||
# ALEX DAO AMM Trading Pool
|
||||
This document provides a detailed overview of the smart contracts that enable ALEX DeFi operations. We categorize these contracts based on their functionalities, explain their interactions, and describe some common technical aspects.
|
||||
|
||||
This section provides an overview of the ALEX on-chain Trading Pool and its Automated Market Making (AMM) protocol. The AMM Trading Pool protocol consists of a set of smart contracts that facilitate trading operations within the ALEX DeFi ecosystem. Below, we list these contracts, explain how they interact with each other, and describe some common technical aspects.
|
||||
## AMM Trading Pool
|
||||
|
||||
## Contracts map
|
||||
This section provides an overview of the ALEX on-chain Trading Pool and its Automated Market Making (AMM) protocol.
|
||||
|
||||
|
||||
### Contracts map
|
||||
|
||||
### Pool: amm-pool-v2-01.clar
|
||||
|
||||
|
||||
#### Pool: amm-pool-v2-01.clar
|
||||
|
||||
This is the primary contract in ALEX's AMM Trading Pool system. It encompasses several core operations, including pool creation, liquidity operations, LP token management, and token swapping. This contract is complemented by the two auxiliary contracts listed below.
|
||||
|
||||
[Complete technical documentation](./amm-pool-v2-01.clar.md)
|
||||
|
||||
### Registry: amm-registry-v2-01.clar
|
||||
#### Registry: amm-registry-v2-01.clar
|
||||
|
||||
This contract functions as a persistence module for all pool-related information needed by the ALEX Automated Market Maker (AMM) Trading Pool system. It also manages a list of blocklisted operators.
|
||||
|
||||
[Complete technical documentation](./amm-registry-v2-01.clar.md)
|
||||
|
||||
## Vault
|
||||
|
||||
The Vault component of the ALEX platform is distinct from the Trading Pool components by design. This separation offers numerous advantages, such as reduced transaction costs for users and a faster learning curve for developers who are creating custom pools on ALEX.
|
||||
|
||||
### Vault: amm-vault-v2-01.clar
|
||||
|
||||
The vault contract supports the primary contract `amm-pool-v2-01.clar` in position and swap operations by keeping records of the reserves accumulated from fees and securing pool assets. This contract also offers a flash-loan feature for registered tokens, available to approved users.
|
||||
The Vault contract supports the primary contract `amm-pool-v2-01.clar` in position and swap operations by keeping records of the reserves accumulated from fees and securing pool assets. This contract also offers a flash-loan feature for registered tokens, available to approved users.
|
||||
|
||||
[Complete technical documentation](./amm-vault-v2-01.clar.md)
|
||||
|
||||
@@ -35,7 +40,7 @@ The smart contracts discussed in this section include features to control admini
|
||||
|
||||
#### Admin access control
|
||||
|
||||
Each of the three contracts includes a feature that checks administrative access through the function `is-dao-or-extension`. This function ensures that the caller (`tx-sender`) is either the DAO executor or an authorized extension.
|
||||
Contracts in the ALEX platform may include a feature that checks administrative access through the function `is-dao-or-extension`. This function ensures that the caller (`tx-sender`) is either the DAO executor or an authorized extension.
|
||||
|
||||
#### Operational status
|
||||
|
||||
@@ -43,7 +48,7 @@ The `amm-pool-v2-01` and `amm-vault-v2-01` contracts have functionalities to set
|
||||
|
||||
#### Blocklisted operators
|
||||
|
||||
The `amm-registry-v2-01` contract features the ability to update (on admin operator request) and query a list of blacklisted addresses that are prohibited from operating within the trading pool. The `amm-pool-v2-01` contract delegates the task of this verification to the registry, which performs a check against the `tx-sender`.
|
||||
The `amm-registry-v2-01` contract features the ability to update (on admin operator request) and query a list of blacklisted addresses that are prohibited from operating within the trading pool. The `amm-pool-v2-01` contract delegates the task of this verification to the Registry, which performs a check against the `tx-sender`.
|
||||
|
||||
### Imported Traits
|
||||
|
||||
@@ -51,7 +56,7 @@ In Clarity language, a trait defines a public interface to which smart contracts
|
||||
|
||||
#### sip-010-trait
|
||||
|
||||
This is a customized version of the Stacks' Standard Trait Definition for Fungible Tokens and is used by all three Trading Pool contracts. The changes in this version include support for 8-digit fixed notation and additional helper functions for `transfer`, `get-balance`, and `get-total-supply`. Mint and burn functions are also included along with their respective helpers.
|
||||
This is a customized version of the Stacks' Standard Trait Definition for Fungible Tokens and is used by contracts in the ALEX platform. The changes in this version include support for 8-digit fixed notation and additional helper functions for `transfer`, `get-balance`, and `get-total-supply`. Mint and burn functions are also included along with their respective helpers.
|
||||
|
||||
[ALEX sip-010 customized implementation](https://github.com/alexgo-io/alex-dao-2/blob/main/contracts/traits/trait-sip-010.clar) |
|
||||
[Full sip-010 standard](https://github.com/stacksgov/sips/blob/main/sips/sip-010/sip-010-fungible-token-standard.md)
|
||||
|
||||
@@ -174,16 +174,17 @@ All getter and setter functions in the contract handle pool information, delegat
|
||||
|
||||
The following is the complete list of setter functions for pool configurations. All set configuration functions are restricted to the respective pool owner or ALEX admin operators (see function `is-dao-or-extension`).
|
||||
|
||||
* `set-start-block`
|
||||
* `set-end-block`
|
||||
* `set-fee-rate-x`
|
||||
* `set-fee-rate-y`
|
||||
* `set-max-in-ratio`
|
||||
* `set-max-out-ratio`
|
||||
* `set-oracle-enabled`
|
||||
* `set-oracle-average`
|
||||
* `set-threshold-x`
|
||||
* `set-threshold-y`
|
||||
* `set-fee-rate-x` and `set-fee-rate-y`: set the swap fee (% of swap amount) of `token-x` and `token-y`, respectively. Both `fee-rate-x` and `fee-rate-y` are zero by default.
|
||||
|
||||
* `set-start-block` and `set-end-block`: set the block heights before and after, respectively, which the pool is not available. Both `start-block` and `end-block` is set to `u340282366920938463463374607431768211455` by default.
|
||||
|
||||
* `set-threshold-x` and `set-threshold-y`: set the amount of `token-x` and `token-y`, respectively, below which a minimum % slippage is applied. Both `threshold-x` and `threshold-y` are zero by default.
|
||||
|
||||
* `set-max-in-ratio` and `set-max-out-ratio`: set the maximum ratio values used to calculate the highest amount that can be deposited (IN) or exchanged (OUT) within the pool.
|
||||
|
||||
* `set-oracle-enabled`: add or remove the pool from the on-chain price oracle. Oracle is disabled by default.
|
||||
|
||||
* `set-oracle-average`: set the exponential moving average factor for the `oracle-resilient`. Please note this call will reset the existing `oracle-resilient` value. The `oracle-average` is zero by default. We recommend `0.99e8`.
|
||||
|
||||
#### Getters
|
||||
|
||||
|
||||
@@ -1,22 +1,18 @@
|
||||
<mark style="color:green;">Demo note: this document will be adjusted with some updated operations context and an enriched glossary. A link to developers contract section will be included.</mark>
|
||||
|
||||
# Trading Pool
|
||||
|
||||
## Introduction
|
||||
|
||||
Please refer to our [white paper](../../whitepaper/automated-market-making-of-alex/) for a more rigorous treatment on the subject.
|
||||
In this section you will find an overview of the ALEX on-chain Trading Pool and its automated market making (AMM) protocol.
|
||||
|
||||
At ALEX, we build DeFi primitives targeting developers looking to build ecosystem on Bitcoin, enabled by [Stacks](https://www.stacks.co/). As such, we focus on trading, lending and borrowing of crypto assets with Bitcoin as the settlement layer and Stacks as the smart contract layer. At the core of this focus is the automated market making ("AMM") protocol, which allows users to exchange one crypto asset with another trustlessly.
|
||||
At ALEX, we build DeFi primitives targeting developers looking to build ecosystem on Bitcoin, enabled by [Stacks](https://www.stacks.co/). As such, we focus on trading, lending and borrowing of crypto assets with Bitcoin as the settlement layer and Stacks as the smart contract layer. At the core of this focus is the automated market making ("AMM") protocol, which allows users to exchange one crypto asset for another in a trustless manner.
|
||||
|
||||
Trading Pool implements Generalised Mean Equation and, with a suitable parameterisation, supports both risky pairs (i.e. $$x y=L$$), stable pairs (i.e. $$x +y=L$$) and any linear combination in-between (i.e. Curve).
|
||||
Trading Pool implements Generalized Mean Equation and, with a suitable parameterisation, supports both risky pairs (i.e. $$x y=L$$), stable pairs (i.e. $$x +y=L$$) and any linear combination in-between (i.e. Curve).
|
||||
|
||||
Trading Pool is parameterised with a single parameter $$t$$. $$t$$ can be between 0 and 1, with $$t=1$$ being equivalent of constant product formula (i.e. Uniswap V2) and $$t=0$$ being equivalent of constant sum formula (i.e. mStable). $$0<t <1$$ then gives a Curve-like formula.
|
||||
|
||||
## <mark style="color:red;">Caution on fixed notation</mark>
|
||||
Regarding its implementation, the Trading Pool protocol consists of a set of smart contracts that facilitate trading operations within the ALEX DeFi ecosystem. Below, there are listed the main features of the pool.
|
||||
|
||||
Please note we use 8-digit fixed notation to represent decimals. If you interact directly with any of our contracts, you must provide all numbers in the correct format.
|
||||
|
||||
For example, 1 should be passed as 10,000,000 (= 1e8), i.e. 1.00000000.
|
||||
For more of the theory and fundaments behind the Alex AMM protocol refer to the [ALEX AMM Whitepaper](../../whitepaper/automated-market-making-of-alex/).
|
||||
|
||||
## Pool creation
|
||||
|
||||
@@ -28,15 +24,10 @@ Trading Pool is permission-less in that anyone can register a pair with initial
|
||||
|
||||
Certain privileged functions are available to `pool-owner` to govern the pool. The `pool-owner` address is set at the time of a pool creation. ALEX DAO, as part of its governance, has the power to update and replace the `pool-owner` address. Therefore, you can view this as ALEX DAO delegating the governance of each pool to its respective `pool-owner`.
|
||||
|
||||
* `set-fee-rate-x` and `set-fee-rate-y`: set the swap fee (% of swap amount) of `token-x` and `token-y`, respectively. Both `fee-rate-x` and `fee-rate-y` are zero by default;
|
||||
* `set-start-block` and `set-end-block`: set the block heights before and after, respectively, which the pool is not available. Both `start-block` and `end-block` is set to `u340282366920938463463374607431768211455` by default;
|
||||
* `set-threshold-x` and `set-threshold-y`: set the amount of `token-x` and `token-y`, respectively, below which a minimum % slippage is applied. Both `threshold-x` and `threshold-y` are zero by default;
|
||||
* `set-oracle-enabled`: add or remove the pool from the on-chain price oracle. Oracle is disabled by default;
|
||||
* `set-oracle-average`: set the exponential moving average factor for the `oracle-resilient`. Please note this call will reset the existing `oracle-resilient` value. The `oracle-average` is zero by default. We recommend 0.99e8.
|
||||
[Refer to the comprehensive list of Pool governed setters](./../../developers/smart-contracts/amm-pool-v2-01.clar.md#setters).
|
||||
|
||||
## Liquidity provision
|
||||
|
||||
Liquidity can be added to or removed from the pool any time by calling `add-to-position` or `reduce-position`, respectively.
|
||||
## Pool liquidity operations
|
||||
Users can participate by adding (injecting liquidity with function `add-to-position`) or reducing (withdrawing with function `reduce-position`) assets positions in a specific pool that deals with a pair of tokens. When users add assets, they receive pool tokens (a.k.a. LP Tokens), which represent their share of the pool and potential earnings. When withdrawing assets, users return pool tokens.
|
||||
|
||||
### Adding liquidity
|
||||
|
||||
@@ -44,39 +35,25 @@ When adding liquidity to a pool, you need to specify the amount of token-x and h
|
||||
|
||||
Once the liquidity is added, the pool will mint a pool token as a proof of proportional ownership of the pool liquidity. The number of the pool token being minted is proportional to the amount of liquidity you added compared to the existing liquidity at the pool.
|
||||
|
||||
The pool token is transferrable and may be used at other protocols (for example, as a collateral).
|
||||
The pool token is transferable and may be used at other protocols (for example, as a collateral).
|
||||
|
||||
### Removing liquidity
|
||||
|
||||
When removing liquidity from a pool, you need to specify the percentage of your pool tokens that you want to liquidate, i.e. between 0 and 1.
|
||||
|
||||
The percentage will be converted to the number of pool tokens to be burnt and the corresponding amount of token-x and token-y will be sent to you.
|
||||
|
||||
### Pool tokens
|
||||
|
||||
The pool token implements [SIP013](https://github.com/stacksgov/sips/pull/42). Each pool is mapped to a unique id (`pool-id`) with associated liquidity mapped to the balance under that id.
|
||||
|
||||
### Fee rebates
|
||||
|
||||
Trading Pool re-invests any fee rebates to the relevant pool liquidity, i.e. the invariant increases slightly after each transaction, similar to Uniswap V2.
|
||||
|
||||
## Trading
|
||||
|
||||
When a pool for a specific token pair is funded, it allows users to exchange those tokens, with a fee for each swap.
|
||||
Users can swap one token with another by calling `swap-x-for-y` or `swap-y-for-x`. As the names imply, `swap-x-for-y` swaps token-x into token-y and `swap-y-for-x` swaps token-y into token-x.
|
||||
|
||||
In both cases you can specify your slippage limit (`min-dy` and `min-dx`, respectively), so that the call fails if the swapped amount does not meet your target.
|
||||
|
||||
### Fee
|
||||
|
||||
Fee is deducted from each transaction on the "in" leg, i.e. token-x for `swap-x-for-y` and token-y for `swap-y-for-x`. Fee is set at the [pool creation](./#pool-creation) and may be updated through the governance.
|
||||
|
||||
Part of the fee may be [rebated](./#fee-rebates) to liquidity providers as a reward.
|
||||
Users can specify the slippage limit (the minimum amount of the target token they expect to receive: `min-dy` and `min-dx`, respectively), so that the call fails if the swapped amount does not meet your target.
|
||||
|
||||
### Swap helper and routing
|
||||
|
||||
It may not be reasonable to expect developers or users to remember the correct order of token pairs. Therefore we provide `swap-helper` function that helps choose between `swap-x-for-y` and `swap-y-for-x` and swaps token-x into token-y without users having to know the correct order.
|
||||
It may not be reasonable to expect developers or users to remember the correct order of token pairs. Therefore, we provide `swap-helper` function that helps choose between `swap-x-for-y` and `swap-y-for-x` and swaps token-x into token-y without users having to know the correct order.
|
||||
|
||||
It is also useful to be able to combine multiple swaps into one. For example, it will be useful to be able to swap xUSD into xBTC in one transaction, based on two pools of STX/xUSD and STX/xBTC, instead of having to perform two swaps. To that end, we provide three helper functions - `swap-helper-a`, `swap-helper-b` and `swap-helper-c` that facilitates "multi-hop" swaps of two/three/four pools, respectively.
|
||||
Sometimes, a direct swap isn't possible. In such cases, the system employs intermediate tokens to complete the exchange. For example, swapping Token-A to Token-C might require an intermediate swap through Token-B. This process is known as a multi-hop or multi-step swap. It is intended for scenarios where a direct pool for Token-A/Token-C does not exist, but there are pools for Token-A/Token-B and Token-B/Token-C. The current version of the protocol supports chains of up to 4 pools.
|
||||
|
||||
## Helper functions
|
||||
|
||||
@@ -90,18 +67,72 @@ Instant oracle (`get-oracle-instant`) gives you the latest pool-implied price (i
|
||||
|
||||
Resilient oracle (`get-oracle-resilient`) on the other hand gives you a trade-weighted price that is therefore more resilient to potential manipulation but is less up to date. Resilient oracle may be more suitable for, for example, benchmarking to lending and borrowing.
|
||||
|
||||
### Out given in
|
||||
|
||||
Sometimes you may want to know the expected amount of token-y if you were to swap certain amount of token-x. Or you may want to know the expected amount of token-x for some token-y. Two read-only functions - `get-y-given-x` and `get-x-given-y` will do that for you.
|
||||
|
||||
### In given out
|
||||
|
||||
If you want to know the amount of token-x you may need to provide to get a target amount of token-y (or vice versa), you can use `get-x-in-given-y-out` and `get-y-in-give-x-out`, respectively.
|
||||
|
||||
### In given price
|
||||
|
||||
If you are an arbitrageur, you may want to know the amount of token-x or token-y you need to provide to rebalance the pool-implied price to a target. In such a case, you can use `get-x-given-price` or `get-y-given-price`.
|
||||
|
||||
### Liquidity provision
|
||||
|
||||
Lastly, it will be useful to know, for example, to determine the slippage limit, how many token-x and token-y must be provided to mint certain number of pool tokens, to burn certain number of pool tokens, or how many pool tokens may be minted or burnt if certain number of token-x and token-y are provided. The relevant helper functions are `get-position-given-mint`, `get-position-given-burn` and `get-token-given-position`.
|
||||
|
||||
## Glossary
|
||||
|
||||
### Swap Transaction
|
||||
A swap transaction refers to a type of operation whereby a user exchanges a given quantity of one cryptocurrency token for another. Within the context of the ALEX Trading Pool, swap transactions are executed using predefined token pairs existing within a pre-established liquidity pool.
|
||||
|
||||
### Base Token
|
||||
The base token is the cryptocurrency token that a user currently possesses and submits during a swap transaction.
|
||||
|
||||
### Target Token
|
||||
Also known as the "quoted" token, the target token is the cryptocurrency token that a user will receive as a result of a swap transaction.
|
||||
|
||||
### Factor
|
||||
The factor is a multiplier (scaling factor) defined within a token pair pool, playing a critical role in determining the value of `dy` (amount of target token) given `dx` (amount of base token) and the pool balances of each token. Together with the token principals, the factor constitutes the pool identifier that is utilized to retrieve the pool details.
|
||||
|
||||
### Dx
|
||||
The amount of the base token that a user inputs into a swap transaction.
|
||||
|
||||
### Dy
|
||||
The amount of the target token that a user receives from a swap transaction.
|
||||
|
||||
### Minimum Dy (`min-dy`)
|
||||
In the context of a swap transaction, this amount defines the minimum quantity of the target token that the user expects to receive. If the resulting amount falls below this specified threshold, the transaction will be reverted with the error `ERR-EXCEEDS-MAX-SLIPPAGE`.
|
||||
|
||||
### Liquidity Positions
|
||||
When a user provides liquidity to a pool, they are said to be adding liquidity positions (using the `add-to-position` function). The reverse operation occurs when users withdraw their assets, thus reducing their positions (using the `reduce-position` function). Both operations involve the minting and burning of LP Tokens, respectively, to represent the user's share of the pool.
|
||||
|
||||
### Pool tokens
|
||||
Also known as "LP Token" (Liquidity Provider Token); issued to users who contribute assets to a liquidity pool, representing their share of the pool and potential earnings.
|
||||
The token contract is `token-amm-pool-v2-01` and it implements [SIP013](https://github.com/stacksgov/sips/pull/42).
|
||||
Each pool is mapped to a unique id (`pool-id`) with associated liquidity mapped to the balance under that id (`token-id`).
|
||||
|
||||
### Maximum Dy (`max-dy`)
|
||||
In the context of an add positions transaction, this amount specifies the maximum quantity of token-y that the user is willing to deposit. If the required amount exceeds this specified limit, the transaction will be reverted with the error `ERR-EXCEEDS-MAX-SLIPPAGE`.
|
||||
|
||||
### Fee
|
||||
The cost associated with performing a swap or other operations within the platform. It is deducted from each transaction on the "in" leg (i.e., token-x for `swap-x-for-y` and token-y for `swap-y-for-x`).
|
||||
The fee to be calculated is set at the [pool creation](#pool-creation) and may be updated through the governance.
|
||||
Part of the fee may be [rebated](#fee-rebates) to liquidity providers as a reward.
|
||||
|
||||
### Fee Rate
|
||||
The percentage of the transaction amount that is taken as a fee during a swap or other operations.
|
||||
|
||||
### Fee Rebates
|
||||
Trading Pool re-invests any fee rebates to the relevant pool liquidity, i.e. the invariant increases slightly after each transaction, similar to Uniswap V2.
|
||||
|
||||
### Ratio
|
||||
In each pool, there are two predefined values that are used to calculate the relationship between the amounts of tokens involved in a swap operation. These ratios determine the maximum amount that can be deposited or exchanged within the pool.
|
||||
|
||||
### Out given in
|
||||
Sometimes you may want to know the expected amount of token-y if you were to swap certain amount of token-x. Or you may want to know the expected amount of token-x for some token-y. Two read-only functions - `get-y-given-x` and `get-x-given-y` will do that for you.
|
||||
|
||||
### In given out
|
||||
If you want to know the amount of token-x you may need to provide to get a target amount of token-y (or vice versa), you can use `get-x-in-given-y-out` and `get-y-in-give-x-out`, respectively.
|
||||
|
||||
### In given price
|
||||
If you are an arbitrageur, you may want to know the amount of token-x or token-y you need to provide to rebalance the pool-implied price to a target. In such a case, you can use `get-x-given-price` or `get-y-given-price`.
|
||||
|
||||
### Slippage
|
||||
In the Automated Market Maker (AMM) Pool contract, slippage refers to the difference between the calculated amount of the target token and the configured maximum or minimum limit during a transaction. If no limit is set, the default limits are `u340282366920938463463374607431768211455` (the maximum value for `uint` type in Clarity language: `2**128 - 1`) for the maximum and `u0` for the minimum. These limits are enforced within the pool contract and are validated using the custom error `ERR-EXCEEDS-MAX-SLIPPAGE`.
|
||||
|
||||
## <mark style="color:red;">Caution on fixed notation</mark>
|
||||
Please note we use 8-digit fixed notation to represent decimals. If you interact directly with any of our contracts, you must provide all numbers in the correct format. For example, 1 should be passed as 10,000,000 (= 1e8), i.e. 1.00000000.
|
||||
|
||||
## Implementation
|
||||
Refer to the Trading Pool contracts technical [documentation](../../developers/smart-contracts/README.md#alex-dao-amm-trading-pool).
|
||||
|
||||
@@ -1,5 +1,3 @@
|
||||
<mark style="color:green;">Demo note: A link to developers contract section will be included.</mark>
|
||||
|
||||
# Vault
|
||||
|
||||
Vault holds and manages the assets of all ALEX pools. The separation of pool and vault has many benefits including, among others, cheaper transaction costs for users and quicker learning curve for developers when building custom pools on ALEX.
|
||||
@@ -11,3 +9,6 @@ Aggregating the assets of all ALEX pools into a single vault allows for the offe
|
||||
Flash Loans are uncollateralized loans that must be repaid (plus interest) in the same transaction as it is borrowed. Since everything done with the loan must be completed in a single transaction, there are codified guarantees that make it impossible for borrowers to run away with the tokens.
|
||||
|
||||
Flash Loan allows arbitrageurs to take advantages of any price discrepancies in two or more pools without the needs for holding any input tokens.
|
||||
|
||||
# Implementation
|
||||
Refer to the Vault contract technical [documentation](../developers/smart-contracts/README.md#vault-amm-vault-v2-01clar).
|
||||
|
||||
Reference in New Issue
Block a user