[Proposal] 17: User Defined Coupon Expiry w/ FPSBA

protocol/contracts/Constants.sol

@@ -68,6 +68,8 @@ library Constants {
     /* Market */
     uint256 private constant COUPON_EXPIRATION = 90;
     uint256 private constant DEBT_RATIO_CAP = 20e16; // 20%
+    uint256 private constant MAX_COUPON_YIELD_MULT = 2000; //2000 coupouns per 1 dollar burn
+
 
     /* Regulator */
     uint256 private constant SUPPLY_CHANGE_LIMIT = 3e16; // 3%
@@ -165,6 +167,10 @@ library Constants {
         return COUPON_EXPIRATION;
     }
 
+    function getCouponMaxYieldToBurn() internal pure returns (uint256) {
+        return MAX_COUPON_YIELD_MULT;
+    }
+
     function getDebtRatioCap() internal pure returns (Decimal.D256 memory) {
         return Decimal.D256({value: DEBT_RATIO_CAP});
     }

protocol/contracts/dao/Comptroller.sol

@@ -35,6 +35,12 @@ contract Comptroller is Setters {
         balanceCheck();
     }
 
+    function burnFromAccountSansDebt(address account, uint256 amount) internal {
+        dollar().transferFrom(account, address(this), amount);
+        dollar().burn(amount);
+        balanceCheck();
+    }
+
     function burnFromAccount(address account, uint256 amount) internal {
         dollar().transferFrom(account, address(this), amount);
         dollar().burn(amount);
@@ -122,6 +128,10 @@ contract Comptroller is Setters {
         return 0;
     }
 
+    function acceptableBidCheck(address account, uint256 dollarAmount) internal returns (bool) {
+        return (dollar().balanceOf(account) >= balanceOfBonded(account).add(dollarAmount));
+    }
+
     function balanceCheck() private {
         Require.that(
             dollar().balanceOf(address(this)) >= totalBonded().add(totalStaged()).add(totalRedeemable()),

protocol/contracts/dao/Getters.sol

@@ -191,6 +191,131 @@ contract Getters is State {
         return epoch <= Constants.getBootstrappingPeriod();
     }
 
+    function getCouponAuctionAtEpoch(uint256 epoch) internal view returns (Epoch.AuctionState storage) {
+        return _state.epochs[epoch].auction;
+    }
+
+    function getCouponAuctionBids(uint256 epoch) internal view returns (uint256) {
+        return _state.epochs[epoch].auction._totalBids;
+    }
+
+    function getCouponBidderState(uint256 epoch, address bidder) internal view returns (Epoch.CouponBidderState storage) {
+        return _state.epochs[epoch].auction.couponBidderState[bidder];
+    }
+
+    function getCouponBidderStateSelected(uint256 epoch, address bidder) internal view returns (bool) {
+        return _state.epochs[epoch].auction.couponBidderState[bidder].selected;
+    }
+
+    function getCouponBidderStateAssginedAtIndex(uint256 epoch, uint256 index) internal view returns (address) {
+        return _state.epochs[epoch].auction.seletedCouponBidder[index];
+    }
+
+    function getCouponBidderStateRejected(uint256 epoch, address bidder) internal view returns (bool) {
+        return _state.epochs[epoch].auction.couponBidderState[bidder].rejected;
+    }
+
+    function getCouponBidderStateIndex(uint256 epoch, uint256 index) internal view returns (address) {
+        return _state.epochs[epoch].auction.couponBidder[index];
+    }
+
+    function isCouponAuctionFinished(uint256 epoch) internal view returns (bool){
+        return _state.epochs[epoch].auction.finished;
+    }
+
+    function isCouponAuctionCanceled(uint256 epoch) internal view returns (bool){
+        return _state.epochs[epoch].auction.canceled;
+    }
+
+    function getCouponAuctionMinExpiry(uint256 epoch) internal view returns (uint256) {
+        return _state.epochs[epoch].auction.minExpiry;
+    }
+
+    function getCouponAuctionMaxExpiry(uint256 epoch) internal view returns (uint256) {
+        return _state.epochs[epoch].auction.maxExpiry;
+    }
+
+    function getCouponAuctionMinYield(uint256 epoch) internal view returns (uint256) {
+        return _state.epochs[epoch].auction.minYield;
+    }
+
+    function getCouponAuctionMaxYield(uint256 epoch) internal view returns (uint256) {
+        return _state.epochs[epoch].auction.maxYield;
+    }
+
+    function getCouponAuctionMinDollarAmount(uint256 epoch) internal view returns (uint256) {
+        return _state.epochs[epoch].auction.minDollarAmount;
+    }
+
+    function getCouponAuctionMaxDollarAmount(uint256 epoch) internal view returns (uint256) {
+        return _state.epochs[epoch].auction.maxDollarAmount;
+    }
+
+    function getMinExpiryFilled(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.minExpiryFilled;
+    }
+
+    function getMaxExpiryFilled(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.maxExpiryFilled;
+    }
+
+    function getAvgExpiryFilled(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.avgExpiryFilled;
+    }
+
+    function getMinYieldFilled(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.minYieldFilled;
+    }
+
+    function getMaxYieldFilled(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.maxYieldFilled;
+    }
+
+    function getAvgYieldFilled(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.avgYieldFilled;
+    }
+
+    function getBidToCover(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.bidToCover;
+    }
+
+    function getTotalFilled(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.totalFilled;
+    }
+
+    function getTotalAuctioned(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.totalAuctioned;
+    }
+
+    function getTotalBurned(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.totalBurned;
+    }
+
+    function getEarliestDeadAuctionEpoch() public view returns (uint256) {
+        return _state.epoch.earliestDeadAuction;
+    }
+
+    function getLatestCouponAuctionRedeemedSelectedBidderIndex(uint256 epoch) public view returns (uint256) {
+        return _state.epochs[epoch].auction.latestRedeemedSelectedBidderIndex;
+    }
+
+    function getAvgAvgYieldAcrossCouponAuctions() public view returns (uint256) {
+        // loop over past epochs from the latest `dead` epoch to the current
+        uint256 sumYield = 0;
+        uint256 totalAvailableAuctions = 1;
+        for (uint256 d_idx = getEarliestDeadAuctionEpoch(); d_idx < uint256(epoch()); d_idx++) {
+            uint256 temp_coupon_auction_epoch = d_idx;
+            Epoch.AuctionState storage auction = getCouponAuctionAtEpoch(temp_coupon_auction_epoch);
+            // skip auctions that have been canceled, dead or not finished auction present?
+            if (!auction.canceled && !auction.dead && auction.isInit && auction.finished) {
+                sumYield += getAvgYieldFilled(temp_coupon_auction_epoch);
+                totalAvailableAuctions++;
+            }
+        }
+
+        return sumYield.div(totalAvailableAuctions);
+    }
+
     /**
      * Governance
      */

protocol/contracts/dao/Market.sol

@@ -32,7 +32,8 @@ contract Market is Comptroller, Curve {
     event CouponRedemption(address indexed account, uint256 indexed epoch, uint256 couponAmount);
     event CouponTransfer(address indexed from, address indexed to, uint256 indexed epoch, uint256 value);
     event CouponApproval(address indexed owner, address indexed spender, uint256 value);
-
+    event CouponBidPlaced(address indexed account, uint256 indexed epoch, uint256 dollarAmount, uint256 maxCouponAmount);
+
     function step() internal {
         // Expire prior coupons
         for (uint256 i = 0; i < expiringCoupons(epoch()); i++) {
@@ -117,4 +118,49 @@ contract Market is Comptroller, Curve {
 
         emit CouponTransfer(sender, recipient, epoch, amount);
     }
+
+    function placeCouponAuctionBid(uint256 couponEpochExpiry, uint256 dollarAmount, uint256 maxCouponAmount) external returns (bool) {
+        Require.that(
+            couponEpochExpiry > 0,
+            FILE,
+            "Must have non-zero expiry"
+        );
+
+        Require.that(
+            dollarAmount > 0,
+            FILE,
+            "Must bid non-zero amount"
+        );
+
+        Require.that(
+            maxCouponAmount > 0,
+            FILE,
+            "Must bid on non-zero amount"
+        );
+
+        Require.that(
+            acceptableBidCheck(msg.sender, dollarAmount),
+            FILE,
+            "Must have enough in account"
+        );
+
+        uint256 yield = maxCouponAmount.div(dollarAmount);
+        uint256 maxYield = Constants.getCouponMaxYieldToBurn();
+
+        Require.that(
+            maxYield >= yield,
+            FILE,
+            "Must be under maxYield"
+        );
+
+        uint256 epochExpiry = epoch().add(couponEpochExpiry);
+        setCouponAuctionRelYield(maxCouponAmount.div(dollarAmount));
+        setCouponAuctionRelDollarAmount(dollarAmount);
+        setCouponAuctionRelExpiry(epochExpiry);
+        setCouponBidderState(uint256(epoch()), msg.sender, couponEpochExpiry, dollarAmount, maxCouponAmount);
+        setCouponBidderStateIndex(uint256(epoch()), getCouponAuctionBids(uint256(epoch())), msg.sender);
+        incrementCouponAuctionBids();
+        emit CouponBidPlaced(msg.sender, epochExpiry, dollarAmount, maxCouponAmount);
+        return true;
+    }
 }