Spot pricer for automanager #220
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Spot pricer for automanager
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| // If the market price of the USD coin fallen too much below 1$, | ||
| // it's an indication of some systemic issue with the USD token | ||
| // and thus its price should be considered unreliable. | ||
| return (ONE, (v && p > USD_LOWER_BOUND)); |
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WDYT about checking deviation USDC from $1.00, which also covers the case where the dollar token is >> $1? That's also a sign of market trouble, that's missed by just checking the downside.
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I don't think that's specifically a risk when it comes to USDC. If usdc is trading above one, folks will just mint more? Custody/Bank failure risk is only on the downside.
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I'm more coming from the perspective of-- IF the price of USDC is high, then something is going wrong.
Perhaps minting is halted by Circle corp (there are humans in the loop there), a liquidity pool address gets blacklisted through their AML system, there's an chainlink oracle attack/failure. Maybe other things I can't think of as well.
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Sure. Worth noting, that the current spot appraiser which is deployed and used by Billy doesn't have this check.
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LGTM, with the slight name change
| uint256 private constant ONE = (10 ** DECIMALS); | ||
| uint256 public constant CL_ORACLE_DECIMALS = 8; | ||
| uint256 public constant CL_ORACLE_STALENESS_THRESHOLD_SEC = 3600 * 48; // 2 days | ||
| uint256 public constant USD_LOWER_UPPER = (101 * ONE) / 100; // 1.01$ |
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| uint256 public constant USD_LOWER_UPPER = (101 * ONE) / 100; // 1.01$ | |
| uint256 public constant USD_UPPER_BOUND = (101 * ONE) / 100; // 1.01$ |
| // it's an indication of some systemic issue with the USD token | ||
| // and thus its price should be considered unreliable. | ||
| return (ONE, (v && p > USD_LOWER_BOUND)); | ||
| return (ONE, (v && p < USD_LOWER_UPPER && p > USD_LOWER_BOUND)); |
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| return (ONE, (v && p < USD_LOWER_UPPER && p > USD_LOWER_BOUND)); | |
| return (ONE, (v && p < USD_UPPER_BOUND && p > USD_LOWER_BOUND)); |
Added a new SPOT pricing strategy for the charm manager.
The bill broker uses the spot appraiser which has stricter rules around DR and tranche CDRs. However, the AMM pool can use a much simpler pricing strategy.