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Mainnet spell 2024-07-25 (#417)
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amusingaxl authored Jul 25, 2024
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// SPDX-FileCopyrightText: © 2020 Dai Foundation <www.daifoundation.org>
// SPDX-License-Identifier: AGPL-3.0-or-later
//
// This program is free software: you can redistribute it and/or modify
// it under the terms of the GNU Affero General Public License as published by
// the Free Software Foundation, either version 3 of the License, or
// (at your option) any later version.
//
// This program is distributed in the hope that it will be useful,
// but WITHOUT ANY WARRANTY; without even the implied warranty of
// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
// GNU Affero General Public License for more details.
//
// You should have received a copy of the GNU Affero General Public License
// along with this program. If not, see <https://www.gnu.org/licenses/>.

pragma solidity 0.8.16;

import "dss-exec-lib/DssExec.sol";
import "dss-exec-lib/DssAction.sol";
import { MCD, DssInstance } from "dss-test/MCD.sol";
import { DssLitePsmInstance } from "./dependencies/dss-lite-psm/DssLitePsmInstance.sol";
import { DssLitePsmMigrationPhase1, DssLitePsmMigrationConfigPhase1 } from "./dependencies/dss-lite-psm/phase-1/DssLitePsmMigrationPhase1.sol";

interface ProxyLike {
function exec(address target, bytes calldata args) external payable returns (bytes memory out);
}

interface PauseLike {
function setDelay(uint256 delay_) external;
}

interface DssCronSequencerLike {
function addJob(address job) external;
}

contract DssSpellAction is DssAction {
// Provides a descriptive tag for bot consumption
// This should be modified weekly to provide a summary of the actions
// Hash: cast keccak -- "$(wget 'https://raw.githubusercontent.com/makerdao/community/7dea36a997198c0b4348e8ca9e37dcb896785cd0/governance/votes/Executive%20vote%20-%20July%2025%2C%202024.md' -q -O - 2>/dev/null)"
string public constant override description =
"2024-07-25 MakerDAO Executive Spell | Hash: 0x434004820168dfce595861581ed0cf22f2e36fafb236b59a3d6019c78751be14";

// Set office hours according to the summary
function officeHours() public pure override returns (bool) {
return true;
}

// ---------- Rates ----------
// Many of the settings that change weekly rely on the rate accumulator
// described at https://docs.makerdao.com/smart-contract-modules/rates-module
// To check this yourself, use the following rate calculation (example 8%):
//
// $ bc -l <<< 'scale=27; e( l(1.08)/(60 * 60 * 24 * 365) )'
//
// A table of rates can be found at
// https://ipfs.io/ipfs/QmVp4mhhbwWGTfbh2BzwQB9eiBrQBKiqcPRZCaAxNUaar6
//
// uint256 internal constant X_PCT_1000000003022265980097387650RATE = ;

// --- Math ---
uint256 internal constant THOUSAND = 10 ** 3;
uint256 internal constant MILLION = 10 ** 6;
uint256 internal constant BILLION = 10 ** 9;
uint256 internal constant WAD = 10 ** 18;
uint256 internal constant RAD = 10 ** 45;

// ---------- LITE-PSM-USDC-A Phase 1 ----------
address internal immutable MCD_PAUSE = DssExecLib.getChangelogAddress("MCD_PAUSE");
address internal immutable MCD_ESM = DssExecLib.getChangelogAddress("MCD_ESM");
address internal immutable USDC = DssExecLib.getChangelogAddress("USDC");
address internal immutable PIP_USDC = DssExecLib.getChangelogAddress("PIP_USDC");
address internal constant MCD_LITE_PSM_USDC_A = 0xf6e72Db5454dd049d0788e411b06CfAF16853042;
address internal constant MCD_LITE_PSM_USDC_A_POCKET = 0x37305B1cD40574E4C5Ce33f8e8306Be057fD7341;
address internal constant LITE_PSM_MOM = 0x467b32b0407Ad764f56304420Cddaa563bDab425;
address internal constant MCD_LITE_PSM_USDC_A_JAR = 0x69cA348Bd928A158ADe7aa193C133f315803b06e;
address internal constant MCD_LITE_PSM_USDC_A_IN_CDT_JAR = 0x5eeB3D8D60B06a44f6124a84EeE7ec0bB747BE6d;

// ---------- Add LitePSM keeper network job ----------
address internal immutable CRON_SEQUENCER = DssExecLib.getChangelogAddress("CRON_SEQUENCER");
address internal constant CRON_LITE_PSM_JOB = 0x689cE517a4DfCf0C5eC466F2757D324fc292C8Be;

// ---------- Spark Spell ----------
// Spark Proxy: https://github.com/marsfoundation/sparklend-deployments/blob/bba4c57d54deb6a14490b897c12a949aa035a99b/script/output/1/primary-sce-latest.json#L2
address internal constant SPARK_PROXY = 0x3300f198988e4C9C63F75dF86De36421f06af8c4;
address internal constant SPARK_SPELL = 0x18427dB17D3113309a0406284aC738f4E649613B;

function actions() public override {
// ---------- LITE-PSM-USDC-A Onboarding ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644
// Poll: https://vote.makerdao.com/polling/QmdcHXHy

// ---------- Update PSM-USDC-A DC-IAM ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644
// Poll: https://vote.makerdao.com/polling/QmdcHXHy

// ---------- Set up LITE-PSM-USDC-A DC-IAM ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644
// Poll: https://vote.makerdao.com/polling/QmdcHXHy

// ---------- Add GSM Delay Exception ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644
// Poll: https://vote.makerdao.com/polling/QmdcHXHy

// ---------- Phase 1 USDC Migration from PSM-USDC-A to LitePSM ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644
// Poll: https://vote.makerdao.com/polling/QmdcHXHy

// ---------- Chainlog additions ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644/5

// Note: load the MCD contracts depencencies
DssInstance memory dss = MCD.loadFromChainlog(DssExecLib.LOG);

// Note: load the LitePSM module contracts
DssLitePsmInstance memory inst = DssLitePsmInstance({
// Onboard MCD_LITE_PSM_USDC_A at 0xf6e72Db5454dd049d0788e411b06CfAF16853042
litePsm: MCD_LITE_PSM_USDC_A,

// Activate LITE_PSM_MOM GSM Delay Exception at 0x467b32b0407Ad764f56304420Cddaa563bDab425
mom: LITE_PSM_MOM
});

// Note: specify the init and migration config
DssLitePsmMigrationConfigPhase1 memory cfg = DssLitePsmMigrationConfigPhase1({
// Note: gem is not listed in the exec, but it is implicitly derived
dstGem: USDC,

// Note: pip is not listed in the exec, but it is implicitly derived
dstPip: PIP_USDC,

// Note: value listed in a section header above (LITE-PSM-USDC-A Onboarding)
dstIlk: "LITE-PSM-USDC-A",

// Onboard MCD_LITE_PSM_USDC_A_POCKET at 0x37305B1cD40574E4C5Ce33f8e8306Be057fD7341
dstPocket: MCD_LITE_PSM_USDC_A_POCKET,

// Set MCD_LITE_PSM_USDC_A buf to 20M
dstBuf: 20 * MILLION * WAD,

// Set LITE-PSM-USDC-A DC-IAM line: Set to 50M
dstMaxLine: 50 * MILLION * RAD,

// Set LITE-PSM-USDC-A DC-IAM gap: Set to 20M
dstGap: 20 * MILLION * RAD,

// Set LITE-PSM-USDC-A DC-IAM ttl: Set to 12h
dstTtl: 12 hours,

// Note: chainlog key for PSM-USDC-A
srcPsmKey: "MCD_PSM_USDC_A",

// Set PSM-USDC-A DC-IAM DC-IAM line: 10B (Unchanged)
srcMaxLine: 10 * BILLION * RAD,

// Set PSM-USDC-A DC-IAM DC-IAM gap: Decrease for 20M from 400M to 380M
srcGap: 380 * MILLION * RAD,

// Set PSM-USDC-A DC-IAM DC-IAM ttl: 12h (Unchanged)
srcTtl: 12 hours,

// Migrate 20 million USDC from PSM-USDC-A to LITE-PSM-USDC-A
dstWant: 20 * MILLION * WAD,

// Leave at least 200M USDC reserves in PSM-USDC-A
srcKeep: 200 * MILLION * WAD,

// Add 0x467b32b0407Ad764f56304420Cddaa563bDab425 as LITE_PSM_MOM
psmMomKey: "LITE_PSM_MOM",

// Add 0xf6e72Db5454dd049d0788e411b06CfAF16853042 as MCD_LITE_PSM_USDC_A
dstPsmKey: "MCD_LITE_PSM_USDC_A",

// Add 0x37305B1cD40574E4C5Ce33f8e8306Be057fD7341 as MCD_LITE_PSM_USDC_A_POCKET
dstPocketKey: "MCD_LITE_PSM_USDC_A_POCKET"
});

// Note: LitePSM init and migration was extracted into a library,
// and implemented as part of the LitePSM module.
DssLitePsmMigrationPhase1.initAndMigrate(dss, inst, cfg);

// ---------- GSM Delay Update ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644

// Decrease the GSM Pause Delay by 14h, from 30h to 16h
PauseLike(MCD_PAUSE).setDelay(16 hours);

// ---------- Emergency Shutdown Module Minimum Threshold Update ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644
// Poll: https://vote.makerdao.com/polling/QmdcHXHy

// Increase the ESM (Emergency Shutdown Module) minimum threshold by 150k MKR from 150k MKR to 300k MKR
DssExecLib.setValue(MCD_ESM, "min", 300 * THOUSAND * WAD);

// ---------- ESM Authorizations ----------
// Forum: http://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644/9
// Note: in practice this spell disables Emergency Shutdown by setting the threshold very high.
// However the active bug bounty programs still need to be updated to reflect that,
// so we are authorizing the ESM on the relevant components.

// Auth ESM on MCD_LITE_PSM_USDC_A_IN_CDT_JAR
DssExecLib.authorize(MCD_LITE_PSM_USDC_A_IN_CDT_JAR, MCD_ESM);

// ---------- Add LitePSM keeper network job ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644
// Poll: https://vote.makerdao.com/polling/QmdcHXHy

// sequencer.addJob( 0x689cE517a4DfCf0C5eC466F2757D324fc292C8Be )
// Note: the parameters below are set in `CRON_LITE_PSM_JOB` constructor
// fill: Set threshold at 15M DAI
// trim: Set threshold at 30M DAI
// chug: Set threshold at 300k DAI
DssCronSequencerLike(CRON_SEQUENCER).addJob(CRON_LITE_PSM_JOB);

// ---------- Chainlog additions ----------
// Forum: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644

// Add 0x69cA348Bd928A158ADe7aa193C133f315803b06e as MCD_LITE_PSM_USDC_A_JAR
DssExecLib.setChangelogAddress("MCD_LITE_PSM_USDC_A_JAR", MCD_LITE_PSM_USDC_A_JAR);

// Add 0x5eeB3D8D60B06a44f6124a84EeE7ec0bB747BE6d as MCD_LITE_PSM_USDC_A_IN_CDT_JAR
DssExecLib.setChangelogAddress("MCD_LITE_PSM_USDC_A_IN_CDT_JAR", MCD_LITE_PSM_USDC_A_IN_CDT_JAR);

// Add 0x689cE517a4DfCf0C5eC466F2757D324fc292C8Be as CRON_LITE_PSM_JOB
DssExecLib.setChangelogAddress("CRON_LITE_PSM_JOB", CRON_LITE_PSM_JOB);

// Note: bumping patch version because the spell adds new items
DssExecLib.setChangelogVersion("1.17.5");

// ---------- Spark Spell ----------
// Forum: https://forum.makerdao.com/t/jul-12-2024-proposed-changes-to-spark-for-upcoming-spell/24635

// Trigger Spark Proxy Spell at 0x18427dB17D3113309a0406284aC738f4E649613B
ProxyLike(SPARK_PROXY).exec(SPARK_SPELL, abi.encodeWithSignature("execute()"));
}
}

contract DssSpell is DssExec {
constructor() DssExec(block.timestamp + 30 days, address(new DssSpellAction())) {}
}
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