AuctionModule

Inherits: IAuctionModule, IncreAccessControl, Pausable, ReentrancyGuard

Author: webthethird

Handles auctioning tokens slashed by the SafetyModule, triggered by governance in the event of an insolvency in the vault which cannot be covered by the insurance fund

State Variables

safetyModule

SafetyModule contract which manages staked token rewards, slashing and auctions

ISafetyModule public safetyModule;

paymentToken

Payment token used to purchase lots in auctions

IERC20 public paymentToken;

_nextAuctionId

ID of the next auction

uint256 internal _nextAuctionId;

_auctions

Mapping of auction IDs to auction information

mapping(uint256 => Auction) internal _auctions;

_tokensSoldPerAuction

Mapping of auction IDs to the number of tokens sold in that auction

mapping(uint256 => uint256) internal _tokensSoldPerAuction;

_fundsRaisedPerAuction

Mapping of auction IDs to the number of payment tokens raised in that auction

mapping(uint256 => uint256) internal _fundsRaisedPerAuction;

Functions

onlySafetyModule

Modifier for functions that should only be called by the SafetyModule

modifier onlySafetyModule();

constructor

AuctionModule constructor

constructor(ISafetyModule _safetyModule, IERC20 _paymentToken) payable;

Parameters

Name	Type	Description
_safetyModule	ISafetyModule	SafetyModule contract to manage this contract
_paymentToken	IERC20	ERC20 token used to purchase lots in auctions

getCurrentLotSize

Returns the current lot size of the auction

Lot size starts at auction.initialLotSize and increases by auction.lotIncreaseIncrement every auction.lotIncreasePeriod seconds, unless the lot size times the number of remaining lots reaches the contract's total balance of tokens, then the size remains fixed at totalBalance / auction.remainingLots

function getCurrentLotSize(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Current number of tokens per lot

getRemainingLots

Returns the number of lots still available for sale in the auction

function getRemainingLots(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Number of lots still available for sale

getLotPrice

Returns the price of each lot in the auction

function getLotPrice(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Price of each lot in payment tokens

getLotIncreaseIncrement

Returns the number of tokens by which the lot size increases each period

function getLotIncreaseIncrement(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Size of each lot increase

getLotIncreasePeriod

Returns the amount of time between each lot size increase

function getLotIncreasePeriod(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Number of seconds between each lot size increase

getAuctionToken

Returns the address of the token being auctioned

function getAuctionToken(uint256 _auctionId) external view returns (IERC20);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	IERC20	The ERC20 token being auctioned

getStartTime

Returns the timestamp when the auction started

The auction starts when the SafetyModule calls startAuction

function getStartTime(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Timestamp when the auction started

getEndTime

Returns the timestamp when the auction ends

Auction can end early if all lots are sold or if the auction is terminated by the SafetyModule

function getEndTime(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Timestamp when the auction ends

getTokensSold

Returns the number of tokens sold in the auction

function getTokensSold(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Number of tokens sold

getFundsRaised

Returns the amount of funds raised in the auction

function getFundsRaised(uint256 _auctionId) external view returns (uint256);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	uint256	Number of payment tokens raised

getNextAuctionId

Returns the ID of the next auction

function getNextAuctionId() external view returns (uint256);

Returns

Name	Type	Description
<none>	uint256	ID of the next auction

isAuctionActive

Returns whether the auction is still active

function isAuctionActive(uint256 _auctionId) external view returns (bool);

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

Returns

Name	Type	Description
<none>	bool	True if the auction is still active, false otherwise

buyLots

Buys one or more lots at the current lot size, and ends the auction if all lots are sold

The caller must approve this contract to transfer the lotPrice x numLotsToBuy in payment tokens

function buyLots(uint256 _auctionId, uint8 _numLotsToBuy) external nonReentrant whenNotPaused;

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction
_numLotsToBuy	uint8	Number of lots to buy

completeAuction

function completeAuction(uint256 _auctionId) external nonReentrant whenNotPaused;

paused

Indicates whether auctions are currently paused

Contract is paused if either this contract or the SafetyModule has been paused

function paused() public view override returns (bool);

Returns

Name	Type	Description
<none>	bool	True if paused, false otherwise

startAuction

Starts a new auction

Only callable by the SafetyModule

function startAuction(
    IERC20 _token,
    uint8 _numLots,
    uint128 _lotPrice,
    uint128 _initialLotSize,
    uint96 _lotIncreaseIncrement,
    uint16 _lotIncreasePeriod,
    uint32 _timeLimit
) external onlySafetyModule whenNotPaused returns (uint256);

Parameters

Name	Type	Description
_token	IERC20	The ERC20 token to auction
_numLots	uint8	Number of lots in the auction
_lotPrice	uint128	Price of each lot of tokens in payment tokens
_initialLotSize	uint128	Initial number of tokens in each lot
_lotIncreaseIncrement	uint96	Amount of tokens by which the lot size increases each period
_lotIncreasePeriod	uint16	Number of seconds between each lot size increase
_timeLimit	uint32	Number of seconds before the auction ends if all lots are not sold

Returns

Name	Type	Description
<none>	uint256	ID of the auction

terminateAuction

Terminates an auction early and approves the transfer of unsold tokens and funds raised

Only callable by the SafetyModule

function terminateAuction(uint256 _auctionId) external onlySafetyModule;

Parameters

Name	Type	Description
_auctionId	uint256	ID of the auction

setPaymentToken

Sets the token required for payments in all auctions

Only callable by governance

function setPaymentToken(IERC20 _newPaymentToken) external onlyRole(GOVERNANCE);

Parameters

Name	Type	Description
_newPaymentToken	IERC20	ERC20 token to use for payment

setSafetyModule

Replaces the SafetyModule contract

Only callable by governance

function setSafetyModule(ISafetyModule _newSafetyModule) external onlyRole(GOVERNANCE);

Parameters

Name	Type	Description
_newSafetyModule	ISafetyModule	Address of the new SafetyModule contract

pause

Pause the contract

Only callable by governance

function pause() external override onlyRole(GOVERNANCE);

unpause

Unpause the contract

Only callable by governance

function unpause() external override onlyRole(GOVERNANCE);

_getCurrentLotSize

function _getCurrentLotSize(uint256 _auctionId) internal view returns (uint256);

_completeAuction

function _completeAuction(uint256 _auctionId, bool _terminatedEarly) internal;

Structs

Auction

Struct representing an auction

struct Auction {
    IERC20 token;
    bool active;
    uint128 lotPrice;
    uint128 initialLotSize;
    uint8 numLots;
    uint8 remainingLots;
    uint64 startTime;
    uint64 endTime;
    uint16 lotIncreasePeriod;
    uint96 lotIncreaseIncrement;
}

Properties

Name	Type	Description
token	IERC20	Address of the token being auctioned
active	bool	Whether the auction is still active
lotPrice	uint128	Price of each lot of tokens, denominated in payment tokens
initialLotSize	uint128	Initial size of each lot
numLots	uint8	Total number of lots in the auction
remainingLots	uint8	Number of lots that have not been sold
startTime	uint64	Timestamp when the auction started
endTime	uint64	Timestamp when the auction ends
lotIncreasePeriod	uint16	Number of seconds between each lot size increase
lotIncreaseIncrement	uint96	Amount of tokens by which the lot size increases each period