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82 lines
4.2 KiB
Markdown
82 lines
4.2 KiB
Markdown
# erc20-pool
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A token pool implementation that allows _deposits_ in the form of _liquidity donations_, and _withdrawals_ in the form of _token swaps_.
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It satisfies the [CIC TokenSwap](https://git.grassecon.net/cicnet/cic-contracts/#tokenswap) interface.
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## Synopsis
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| agent | action | agent change | pool change |
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|---|---|---|---|
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| alice | deposit(FOO, 1000000) | -1000000 FOO | +1000000 FOO |
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| bob | withdraw(FOO, BAR, 1000) | -1000 BAR, +1000 FOO | +1000 BAR, -1000 FOO |
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| alice | withdraw(BAR, FOO, 1000) | +1000 BAR, -1000 FOO | -1000 BAR, +1000 FOO |
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## Publishing the contract
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There are six constructor arguments.
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The first three, `name`, `symbol` and `decimals` have matching getter methods, are analogous to the ERC20 methods of the same name.
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The `declaration` parameter is optional and can be any arbitrary content. Typically it defines a content hash of data describing the pool resource. A value of `bytes32(0x0)` means "no declaration defined."
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The `tokenRegistry` parameter takes an address to a smart contract controlling which tokens are allowed in the pool. See "Token approval" below. A value of `address(0x0)` deactivates this control, and allows the pool to hold all tokens by default (although they may still be subject to value limits).
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The `tokenLimiter` parameter takes an address to a smart contract controlling value limits of tokens in the pool. See "Token limits" below. A value of `address(0x0)` deactivates this control, and allows any value of (approved) tokens to be held by the pool.
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### Token approval
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By specifying a non-zero contract address for the `tokenRegistry` property that implements the [CIC ACL](https://git.grassecon.net/cicnet/cic-contracts/#acl) interface, that contract can be used to allow and disallow which tokens can be used as input tokens to `deposit()` and `withdraw()`.
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Tokens that are disallowed while the pool still holds a balance can still be withdrawn in full.
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### Token limits
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By specifying a non-zero contract address for the `tokenRegistry` property that implements the [CIC TokenLimit](https://git.grassecon.net/cicnet/cic-contracts/#tokenlimit) interface, that contract can be used to control the value limit allowed for each token in the pool.
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Tokens that are limited below the current balance held by the pool can still be withdrawn. Once the balance goes below the limit, additional tokens values may again be swapped, up to the limit.
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#### Using limiter as registry
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The [erc20-limiter](https://holbrook.no/src/erc20-limiter/log.html) repository contains the smart contract implementation `LimiterIndex.sol`. This uses the token limit state to satisfy the [CIC ACL](https://git.grassecon.net/cicnet/cic-contracts/#acl) interface. Specifically, any token limit higher than 0 will be defined as allowed.
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This enables to publisher to use the same smart contract for both constructor arguments `tokenRegistry` and `tokenLimiter`.
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## Handling values
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The pool contract does no checking whatsoever regarding the sanity of allowing tokens in the pool.
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It is therefore the responsibility of the maintainer of the list of allowed tokens to ensure that tokens in the pool are exchangeable in a sensible way.
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Some obvious concerns are:
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- Tokens are swapped denominated in their smallest unit (regardless of "decimals").
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- The unit of account of the tokens may differ.
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- The value of the tokens in relation to unit of account may differ.
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### Providing quotes
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Using the `setQuoter()` method, a smart contract address can be defined that translates value between tokens when exchanging tokens in the pool.
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The value returned from the "quoter" is the value of output tokens that will be received in return for the value of input tokens specified.
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The "quoter" smart contract must satisfy the [CIC TokenQuote](https://git.grassecon.net/cicnet/cic-contracts/#tokenquote) interface.
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An example quoter contract `Quote.sol` can be found in this repository. The contract translates values according to the decimal count reported by the respective ERC20 tokens.
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## Sealing the contract
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The contract implements the [CIC Seal](https://git.grassecon.net/cicnet/cic-contracts/#seal) interface for the following properties:
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- Fee value
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- Fee address
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- Quoter contract address
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