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Merge pull request #1546 from Badger-Finance/feat/tcl-migration
feat: migrate univ3 badger/wbtc to badger/ebtc partially 50%
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,172 @@ | ||
| from math import sqrt | ||
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| from great_ape_safe import GreatApeSafe | ||
| from great_ape_safe.ape_api.helpers.uni_v3.uni_v3_sdk import BASE, Q96 | ||
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| from helpers.addresses import r | ||
| from brownie import interface | ||
| from rich.console import Console | ||
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| C = Console() | ||
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| """ | ||
| Active range: https://app.uniswap.org/pools/255188 : 15,780.30 - 31,840.00 | ||
| Upper ranges (BADGER only): | ||
| 1. https://app.uniswap.org/pools/198350 : 7,962.9 - 15,780.30 | ||
| 2. https://app.uniswap.org/pools/167046 : 3,994.14 - 7,962.9 | ||
| 3. https://app.uniswap.org/pools/158625 : 1,991.45 - 3,994.14 | ||
| 4. https://app.uniswap.org/pools/151049 : 998.898 - 1,991.45 | ||
| """ | ||
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| # Constants: active range, upper ranges and BIP parameter | ||
| ACTIVE_RANGE_NFT_ID = 255188 | ||
| UPPER_RANGE_NFT_IDS = [198350, 167046, 158625, 151049] | ||
| HALF_LIQUIDITY_PCT = 0.5 | ||
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| safe = GreatApeSafe(r.badger_wallets.treasury_vault_multisig) | ||
| safe.init_uni_v3() | ||
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| # tokens | ||
| badger = safe.contract(r.treasury_tokens.BADGER) | ||
| ebtc = safe.contract(r.treasury_tokens.EBTC) | ||
| wbtc = safe.contract(r.treasury_tokens.WBTC) | ||
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| # decimals for calculating tick to prices ratio | ||
| decimals_diff = badger.decimals() - wbtc.decimals() | ||
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| # Scope: | ||
| # 1. Migrates active range from BADGER/WBTC to BADGER/EBTC, partially (50%) | ||
| # 2. Migrates upper ranges from BADGER/WBTC to BADGER/EBTC, partially (50%) | ||
| def main(): | ||
| # existing univ3 pool | ||
| univ3_badger_wbtc = safe.contract(r.uniswap.v3pool_wbtc_badger) | ||
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| # snap | ||
| safe.take_snapshot(tokens=[badger, ebtc, wbtc]) | ||
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| # 1. Withdraw 50% of active range | ||
| prev_badger_balance = badger.balanceOf(safe) | ||
| prev_wbtc_balance = wbtc.balanceOf(safe) | ||
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| amount_wbtc, amount_badger = safe.uni_v3.burn_token_id( | ||
| ACTIVE_RANGE_NFT_ID, HALF_LIQUIDITY_PCT | ||
| ) | ||
| C.print( | ||
| f"[green]WBTC fee: {(wbtc.balanceOf(safe) - prev_wbtc_balance - amount_wbtc) / 1e8} from active range withdrawal[/green]" | ||
| ) | ||
| C.print( | ||
| f"[green]BADGER fee: {(badger.balanceOf(safe) - prev_badger_balance - amount_badger) / 1e18} from active range withdrawal[/green]" | ||
| ) | ||
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| # 2. Buy eBTC with withdrawn WBTC funds | ||
| C.print(f"[green]WBTC to sell for eBTC: {amount_wbtc}[/green]") | ||
| ebtc_balance = safe.uni_v3.swap([wbtc, ebtc], amount_wbtc) | ||
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| # 3. Pool creation (BADGER/EBTC) and initilization | ||
| pool_ebtc_badger_address = safe.uni_v3.factory.createPool( | ||
| ebtc, badger, univ3_badger_wbtc.fee() | ||
| ).return_value | ||
| C.print(f"[green]Pool address is: {pool_ebtc_badger_address}[/green]") | ||
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| ebtc_badger_pool = interface.IUniswapV3Pool( | ||
| pool_ebtc_badger_address, owner=safe.account | ||
| ) | ||
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| # NOTE: token0 will be BADGER | ||
| # ref: https://github.com/Uniswap/v3-core/blob/main/contracts/UniswapV3Factory.sol#L41 | ||
| C.print(f"[green]Token0 is: {ebtc_badger_pool.token0()}[/green]") | ||
| C.print(f"[green]Token1 is: {ebtc_badger_pool.token1()}\n[/green]") | ||
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| # aim to initialize at same tick as existing badger/wbtc pool | ||
| _, current_tick_badger_wbtc_pool, _, _, _, _, _ = univ3_badger_wbtc.slot0() | ||
| C.print( | ||
| f"[green]Current badger/wbtc pool tick: {current_tick_badger_wbtc_pool}\n[/green]" | ||
| ) | ||
| current_price_pool_badger_wbtc = ( | ||
| 1 / (BASE ** current_tick_badger_wbtc_pool) * 10 ** decimals_diff | ||
| ) | ||
| C.print(f"[green]Current price: {current_price_pool_badger_wbtc}\n[/green]") | ||
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| sqrt_price_x_96 = sqrt(current_price_pool_badger_wbtc) * Q96 | ||
| ebtc_badger_pool.initialize(sqrt_price_x_96) | ||
| _, current_tick_badger_ebtc_pool, _, _, _, _, _ = ebtc_badger_pool.slot0() | ||
| C.print( | ||
| f"[green]Current badger/ebtc pool tick: {current_tick_badger_ebtc_pool}\n[/green]" | ||
| ) | ||
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| # 4. Create/mirror active range BADGER/EBTC | ||
| active_range_0, active_range_1 = _range_prices( | ||
| safe.uni_v3.nonfungible_position_manager, ACTIVE_RANGE_NFT_ID, decimals_diff | ||
| ) | ||
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| C.print( | ||
| f"[green]BADGER amount to deposit in active range: {amount_badger / 1e18}[/green]" | ||
| ) | ||
| C.print( | ||
| f"[green]eBTC amount to deposit in active range: {ebtc_balance / 1e18}[/green]" | ||
| ) | ||
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| safe.uni_v3.mint_position( | ||
| pool_ebtc_badger_address, | ||
| active_range_0, | ||
| active_range_1, | ||
| amount_badger, | ||
| ebtc_balance, | ||
| ) | ||
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| # 5. Migrate upper ranges | ||
| for nft_id in UPPER_RANGE_NFT_IDS: | ||
| range_0, range_1 = _range_prices( | ||
| safe.uni_v3.nonfungible_position_manager, nft_id, decimals_diff | ||
| ) | ||
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| badger_bal_before = badger.balanceOf(safe.address) | ||
| wbtc_bal_before = wbtc.balanceOf(safe.address) | ||
| amount_wbtc, amount_badger = safe.uni_v3.burn_token_id( | ||
| nft_id, HALF_LIQUIDITY_PCT | ||
| ) | ||
| assert amount_wbtc == 0, "WBTC should be 0" | ||
| C.print( | ||
| f"[green]wBTC fee: {(wbtc.balanceOf(safe.address) - wbtc_bal_before) / 1e8} from upper range withdrawal[/green]" | ||
| ) | ||
| C.print( | ||
| f"[green]Badger fee: {(badger.balanceOf(safe.address) - badger_bal_before - amount_badger) / 1e18} from upper range withdrawal[/green]" | ||
| ) | ||
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| # NOTE: ensure clean BADGER approval. Force to set back to zero due to its nature | ||
| # otherwise may revert in the internal approval of the class | ||
| badger.approve(safe.uni_v3.nonfungible_position_manager.address, 0) | ||
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| C.print( | ||
| f"[green]BADGER amount to deposit in upper range: {amount_badger / 1e18}[/green]" | ||
| ) | ||
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| # NOTE: deposit exactly what was obtained from the withdrawal of the upper range, excluding any fees collected | ||
| safe.uni_v3.mint_position( | ||
| pool_ebtc_badger_address, | ||
| range_0, | ||
| range_1, | ||
| amount_badger, | ||
| 0, # should be theoretically 0 eBTC | ||
| ) | ||
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| safe.post_safe_tx() | ||
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| def _range_prices(position_manager, token_id, decimals_diff): | ||
| C.print(f"[green]Inspecting ticks for token id {token_id}...[/green]") | ||
| position = position_manager.positions(token_id) | ||
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| tick_lower = position["tickLower"] | ||
| tick_upper = position["tickUpper"] | ||
| C.print(f"[green]tickLower: {tick_lower}[/green]") | ||
| C.print(f"[green]tickLower: {tick_upper}\n[/green]") | ||
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| range_0 = 1 / (BASE ** tick_lower) * 10 ** decimals_diff | ||
| range_1 = 1 / (BASE ** tick_upper) * 10 ** decimals_diff | ||
| C.print(f"[green]range_0: {range_0}[/green]") | ||
| C.print(f"[green]range_1: {range_1}\n[/green]") | ||
| C.print(f"[green]price0: {1/range_0}[/green]") # To match UniV3 UI | ||
| C.print(f"[green]price1: {1/range_1}\n[/green]") # To match UniV3 UI | ||
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| return range_0, range_1 |