USDe plugin and scripts

common/configuration.ts

@@ -104,9 +104,13 @@ export interface ITokens {
   bbUSDT?: string
   steakPYUSD?: string
   Re7WETH?: string
+
+  // Ethena
+  USDe?: string
+  sUSDe?: string
 }
 
-export type ITokensKeys = Array<keyof ITokens>;
+export type ITokensKeys = Array<keyof ITokens>
 
 export interface IFeeds {
   stETHETH?: string
@@ -241,6 +245,8 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       bbUSDT: '0x2C25f6C25770fFEC5959D34B94Bf898865e5D6b1',
       Re7WETH: '0x78Fc2c2eD1A4cDb5402365934aE5648aDAd094d0',
       sdUSDCUSDCPlus: '0x9bbF31E99F30c38a5003952206C31EEa77540BeF',
+      USDe: '0x4c9edd5852cd905f086c759e8383e09bff1e68b3',
+      sUSDe: '0x9D39A5DE30e57443BfF2A8307A4256c8797A3497',
     },
     chainlinkFeeds: {
       RSR: '0x759bBC1be8F90eE6457C44abc7d443842a976d02',
@@ -267,6 +273,7 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       cbETH: '0xf017fcb346a1885194689ba23eff2fe6fa5c483b', // cbETH/ETH
       frxETH: '0xc58f3385fbc1c8ad2c0c9a061d7c13b141d7a5df', // frxETH/ETH
       pyUSD: '0x8f1dF6D7F2db73eECE86a18b4381F4707b918FB1',
+      USDe: '0xa569d910839Ae8865Da8F8e70FfFb0cBA869F961',
     },
     AAVE_INCENTIVES: '0xd784927Ff2f95ba542BfC824c8a8a98F3495f6b5',
     AAVE_EMISSIONS_MGR: '0xEE56e2B3D491590B5b31738cC34d5232F378a8D5',

contracts/plugins/assets/ethena/README.md

@@ -0,0 +1,27 @@
+# Ethena USDe Collateral Plugin
+
+## Summary
+
+`USDe` is a synthetic dollar protocol built on Ethereum that derives its value from a delta-neutral basis trade based on funding rates: long ETH-LSD + short ETH. This combined position captures the funding rate on perpetual exchanges, which has been historically positive throughout crypto’s history, which is also used to provision an additional `sUSDe` token.
+
+This plugin allows `sUSDe` holders to use their tokens as collateral in the Reserve Protocol.
+
+`sUSDe` is a high-yield (today) ERC4626 vault, most similar to the DAI savings module. The redeemable USDe amount can be obtained by dividing `sUSDe.totalAssets()` by `sUSDe.totalSupply()`.
+
+`USDe` contract: <https://etherscan.io/address/0x4c9edd5852cd905f086c759e8383e09bff1e68b3#code>
+
+`sUSDe` contract: <https://etherscan.io/address/0x9D39A5DE30e57443BfF2A8307A4256c8797A3497#code>
+
+## Implementation
+
+### Units
+
+| tok   | ref  | target | UoA |
+| ----- | ---- | ------ | --- |
+| sUSDe | USDe | USD    | USD |
+
+### Functions
+
+#### refPerTok {ref/tok}
+
+`return shiftl_toFix(erc4626.convertToAssets(oneShare), -refDecimals)`

contracts/plugins/assets/ethena/USDeFiatCollateral.sol

@@ -0,0 +1,25 @@
+// SPDX-License-Identifier: BlueOak-1.0.0
+pragma solidity 0.8.19;
+
+import { CollateralConfig } from "../AppreciatingFiatCollateral.sol";
+import { ERC4626FiatCollateral } from "../ERC4626FiatCollateral.sol";
+
+/**
+ * @title USDe Fiat Collateral
+ * @notice Collateral plugin for USDe (Ethena)
+ * tok = sUSDe (ERC4626 vault)
+ * ref = USDe
+ * tar = USD
+ * UoA = USD
+ */
+
+contract USDeFiatCollateral is ERC4626FiatCollateral {
+    /// config.erc20 must be sUSDe
+    /// @param config.chainlinkFeed Feed units: {UoA/ref}
+    /// @param revenueHiding {1} A value like 1e-6 that represents the maximum refPerTok to hide
+    constructor(CollateralConfig memory config, uint192 revenueHiding)
+        ERC4626FiatCollateral(config, revenueHiding)
+    {
+        require(config.defaultThreshold != 0, "defaultThreshold zero");
+    }
+}

scripts/deploy.ts

@@ -83,6 +83,7 @@ async function main() {
       'phase2-assets/collaterals/deploy_steakpyusd.ts',
       'phase2-assets/collaterals/deploy_bbusdt.ts',
       'phase2-assets/collaterals/deploy_re7weth.ts',
+      'phase2-assets/collaterals/deploy_USDe.ts',
       'phase2-assets/assets/deploy_crv.ts',
       'phase2-assets/assets/deploy_cvx.ts'
     )

scripts/deployment/phase2-assets/collaterals/deploy_USDe.ts

@@ -0,0 +1,93 @@
+import fs from 'fs'
+import hre from 'hardhat'
+import { getChainId } from '../../../../common/blockchain-utils'
+import { networkConfig } from '../../../../common/configuration'
+import { fp } from '../../../../common/numbers'
+import { expect } from 'chai'
+import { CollateralStatus } from '../../../../common/constants'
+import {
+  getDeploymentFile,
+  getAssetCollDeploymentFilename,
+  IAssetCollDeployments,
+  getDeploymentFilename,
+  fileExists,
+} from '../../common'
+import { USDeFiatCollateral } from '../../../../typechain'
+import { ContractFactory } from 'ethers'
+import {
+  DELAY_UNTIL_DEFAULT,
+  PRICE_TIMEOUT,
+  ORACLE_TIMEOUT,
+  ORACLE_ERROR,
+  DEFAULT_THRESHOLD,
+} from '../../../../test/plugins/individual-collateral/ethena/constants'
+
+async function main() {
+  // ==== Read Configuration ====
+  const [deployer] = await hre.ethers.getSigners()
+
+  const chainId = await getChainId(hre)
+
+  console.log(`Deploying Collateral to network ${hre.network.name} (${chainId})
+    with burner account: ${deployer.address}`)
+
+  if (!networkConfig[chainId]) {
+    throw new Error(`Missing network configuration for ${hre.network.name}`)
+  }
+
+  // Get phase1 deployment
+  const phase1File = getDeploymentFilename(chainId)
+  if (!fileExists(phase1File)) {
+    throw new Error(`${phase1File} doesn't exist yet. Run phase 1`)
+  }
+  // Check previous step completed
+  const assetCollDeploymentFilename = getAssetCollDeploymentFilename(chainId)
+  const assetCollDeployments = <IAssetCollDeployments>getDeploymentFile(assetCollDeploymentFilename)
+
+  const deployedCollateral: string[] = []
+
+  /********  Deploy USDe Collateral - sUSDe  **************************/
+  let collateral: USDeFiatCollateral
+
+  const USDeFiatCollateralFactory: ContractFactory = await hre.ethers.getContractFactory(
+    'USDeFiatCollateral'
+  )
+
+  collateral = <USDeFiatCollateral>await USDeFiatCollateralFactory.connect(deployer).deploy(
+    {
+      priceTimeout: PRICE_TIMEOUT.toString(),
+      chainlinkFeed: networkConfig[chainId].chainlinkFeeds.USDe,
+      oracleError: ORACLE_ERROR.toString(),
+      erc20: networkConfig[chainId].tokens.sUSDe,
+      maxTradeVolume: fp('1e6').toString(), // $1m,
+      oracleTimeout: ORACLE_TIMEOUT.toString(), // 24 hr
+      targetName: hre.ethers.utils.formatBytes32String('USD'),
+      defaultThreshold: DEFAULT_THRESHOLD.toString(), // 5%
+      delayUntilDefault: DELAY_UNTIL_DEFAULT.toString(), // 24h
+    },
+    fp('1e-6').toString()
+  )
+
+  await collateral.deployed()
+
+  console.log(
+    `Deployed USDe (sUSDe) Collateral to ${hre.network.name} (${chainId}): ${collateral.address}`
+  )
+  await (await collateral.refresh()).wait()
+  expect(await collateral.status()).to.equal(CollateralStatus.SOUND)
+
+  assetCollDeployments.collateral.sUSDe = collateral.address
+  assetCollDeployments.erc20s.sUSDe = networkConfig[chainId].tokens.sUSDe
+  deployedCollateral.push(collateral.address.toString())
+
+  fs.writeFileSync(assetCollDeploymentFilename, JSON.stringify(assetCollDeployments, null, 2))
+
+  console.log(`Deployed collateral to ${hre.network.name} (${chainId})
+        New deployments: ${deployedCollateral}
+        Deployment file: ${assetCollDeploymentFilename}`)
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

scripts/verification/collateral-plugins/verify_USDe.ts

@@ -0,0 +1,60 @@
+import hre from 'hardhat'
+import { getChainId } from '../../../common/blockchain-utils'
+import { developmentChains, networkConfig } from '../../../common/configuration'
+import { fp } from '../../../common/numbers'
+import {
+  getDeploymentFile,
+  getAssetCollDeploymentFilename,
+  IAssetCollDeployments,
+} from '../../deployment/common'
+import { verifyContract } from '../../deployment/utils'
+import {
+  PRICE_TIMEOUT,
+  ORACLE_ERROR,
+  ORACLE_TIMEOUT,
+  DELAY_UNTIL_DEFAULT,
+  DEFAULT_THRESHOLD,
+} from '../../../test/plugins/individual-collateral/ethena/constants'
+
+let deployments: IAssetCollDeployments
+
+async function main() {
+  // ********** Read config **********
+  const chainId = await getChainId(hre)
+  if (!networkConfig[chainId]) {
+    throw new Error(`Missing network configuration for ${hre.network.name}`)
+  }
+
+  if (developmentChains.includes(hre.network.name)) {
+    throw new Error(`Cannot verify contracts for development chain ${hre.network.name}`)
+  }
+
+  const assetCollDeploymentFilename = getAssetCollDeploymentFilename(chainId)
+  deployments = <IAssetCollDeployments>getDeploymentFile(assetCollDeploymentFilename)
+
+  /********  Verify sUSDe COllateral  **************************/
+  await verifyContract(
+    chainId,
+    deployments.collateral.sUSDe,
+    [
+      {
+        priceTimeout: PRICE_TIMEOUT.toString(),
+        chainlinkFeed: networkConfig[chainId].chainlinkFeeds.USDe,
+        oracleError: ORACLE_ERROR.toString(),
+        erc20: networkConfig[chainId].tokens.sUSDe,
+        maxTradeVolume: fp('1e6').toString(), // $1m,
+        oracleTimeout: ORACLE_TIMEOUT.toString(),
+        targetName: hre.ethers.utils.formatBytes32String('USD'),
+        defaultThreshold: DEFAULT_THRESHOLD.toString(),
+        delayUntilDefault: DELAY_UNTIL_DEFAULT.toString(),
+      },
+      fp('1e-6').toString(),
+    ],
+    'contracts/plugins/assets/ethena/USDeFiatCollateral.sol:USDeFiatCollateral'
+  )
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

scripts/verify_etherscan.ts

@@ -76,7 +76,8 @@ async function main() {
       'collateral-plugins/verify_sfrax.ts',
       'collateral-plugins/verify_sfrax_eth.ts',
       'collateral-plugins/verify_steakusdc.ts',
-      'collateral-plugins/verify_re7weth.ts'
+      'collateral-plugins/verify_re7weth.ts',
+      'collateral-plugins/verify_USDe.ts'
     )
   } else if (chainId == '8453' || chainId == '84531') {
     // Base L2 chains