Risedle ETFs

This repository contains smart contract for decentralized leveraged ETFs.

The frontend is available here.

Website: demo.risedle.com
Docs: docs.risedle.com
Twitter: @risedle
Whitepaper: ETHRISE Whitepaper

Deployment

The smart contract is available on Kovan:

Risedle 0x4576Df8E6C99d7Bb71Aa9E843BfbE9111D5ff256
ETHRISE 0xb1bd881ef4ef1975f7b19b23da52558708c4fddb
Risedle USDC Faucet 0x64249d73AF4C3ABC7A9704Bf02188fa36d0B1Ed9
Risedle WETH Faucet 0x1d6D78d75c641C4256DE628e4dAFF53eFa7d116E

Install

Requires dapp.tools.

Clone Risedle

git clone git@github.com:risedle/etfs.git
cd etfs/

Download all the dependencies
```
dapp update
```
Configure and run the test

Configure

Copy .dapprc.example to .dapprc and edit the ETH_RPC_URL.

Run the test

Run the following command to run the test against Ethereum mainnet:

  CHAIN=ethereum make test

Use this command to run the test against Arbitrum One mainnet:

  CHAIN=arbitrum make test

here is the example output:

  [PASS] test_getETHUSDCPrice() (gas: 57539)

  Running 1 tests for src/test/CurveSwap.t.sol:CurveSwapTest
  [PASS] test_SwapUSDCToWETH() (gas: 27533)

  Running 3 tests for src/test/Hevm.t.sol:HevmTest
  [PASS] test_setUSDTBalance() (gas: 13698)
  [PASS] test_setWETHBalance() (gas: 11267)
  [PASS] test_setUSDCBalance() (gas: 18526)

  Running 4 tests for src/test/RisedleETFTokenAccessControl.t.sol:RisedleETFTokenAccessControl
  [PASS] testFail_NonGovernanceCannotMintToken() (gas: 1660983)
  [PASS] testFail_NonGovernanceCannotBurnToken() (gas: 1715299)
  [PASS] test_GovernanceCanBurnToken() (gas: 1713852)
  [PASS] test_GovernanceCanMintToken() (gas: 1709342)

  Running 8 tests for src/test/RisedleMarketAccessControl.t.sol:RisedleMarketAccessControlTest
  [PASS] test_GovernanceIsProperlySet() (gas: 4977069)
  [PASS] test_GovernanceCanSetFeeRecipientAddress() (gas: 4982806)
  [PASS] testFail_NonGovernanceCannotSetFeeRecipientAddress() (gas: 4985801)
  [PASS] testFail_NonGovernanceCannotSetVaultParameters() (gas: 4984538)
  [PASS] test_GovernanceCanSetVaultParameters() (gas: 4984700)
  [PASS] testFail_NonGovernanceCannotCreateNewETF() (gas: 4987469)
  [PASS] test_GovernanceCanCreateNewETF() (gas: 5133440)
  [PASS] test_AnyoneCanAccrueInterest() (gas: 4984059)

  Running 6 tests for src/test/RisedleMarketExternal.t.sol:RisedleMarketExternalTest
  [PASS] test_LenderCanRemoveSupplyFromTheVault() (gas: 5876060)
  [PASS] test_LenderCanAddSupplytToTheVault() (gas: 5809925)
  [PASS] test_InvestorCanMintETFToken() (gas: 8344951)
  [PASS] test_InvestorMintTwice() (gas: 8482115)
  [PASS] testFail_InvestorCannotMintETFTokenIfNoSupplyAvailable() (gas: 8090668)
  [PASS] test_InvestorCanRedeemETFToken() (gas: 8514927)

  Running 20 tests for src/test/RisedleMarketInternal.t.sol:RisedleMarketInternalTest
  [PASS] test_CalculateBorrowRatePerSecondInEther() (gas: 11466)
  [PASS] test_CalculateETFNAV() (gas: 1781)
  [PASS] test_GetDebtProportionRateInEther() (gas: 48288)
  [PASS] test_GetTotalAvailableCash() (gas: 54086)
  [PASS] test_SetVaultStates() (gas: 71021)
  [PASS] test_VaultProperties() (gas: 19010)
  [PASS] testFail_GetCollateralPerETFFeeTooLarge() (gas: 1042)
  [PASS] test_GetChainlinkPriceInGwei() (gas: 44894)
  [PASS] test_GetCollateralPrice() (gas: 46125)
  [PASS] test_GetUtilizationRateInEther() (gas: 90497)
  [PASS] test_GetSupplyRatePerSecondInEther() (gas: 69085)
  [PASS] test_GetBorrowRatePerSecondInEther() (gas: 56017)
  [PASS] test_CalculateUtilizationRateInEther() (gas: 3097)
  [PASS] test_GetExchangeRateInEther() (gas: 170657)
  [PASS] test_AccrueInterest() (gas: 111911)
  [PASS] test_GetCollateralAndFeeAmount() (gas: 1906)
  [PASS] test_GetDebtPerETF() (gas: 110703)
  [PASS] test_SwapExactOutputSingle() (gas: 191249)
  [PASS] test_GetCollateralPerETF() (gas: 2915)
  [PASS] test_GetInterestAmount() (gas: 2489)

  Running 2 tests for src/test/UniswapV3.t.sol:UniswapV3Test
  [PASS] test_BorrowAndSwap() (gas: 229397)
  [PASS] test_SwapUSDCToWETH() (gas: 136528)

Gas Report

Run the following command to get deployment gas report:

  export ETH_RPC_URL=<rpc url here>
  make gas

Here is the example output:

  ./scripts/empty-gas-with-build-optimization.sh
  Empty contract with DAPP_BUILD_OPTIMIZE=1
  Deployment gas usage: 67066
  ./scripts/risedle-gas-with-build-optimization.sh
  Risedle with DAPP_BUILD_OPTIMIZE=1
  Deployment gas usage: 3617147
  ./scripts/risedle-gas-without-build-optimization.sh
  Risedle with DAPP_BUILD_OPTIMIZE=0
  Deployment gas usage: 5138125

VSCode

Install the following VSCode extension:

Prettier for code formatter.
Solidity for code highlight and more.

philipmoniaga / etfs