cover-core-v2

Design

The essense of Cover is CoverPools. Each CoverPool consists of multiple risky underlying to be covered. If any of the risky underlying of a pool experience an exploit (as per claims guidelines), all active coverages (Cover) of the CoverPool will be paid out up to 100%.

The following are the elements of the V2.

CoverPoolFactory is the contract that creates CoverPools. It also stores information that are common to all V2 contracts, like logic contract implementation addresses, addresses of multi-sigs, claim manager address etc.
CoverPool is the main element of V2. It handles coverage creation and minting, adding/deleting risk covered, stores accepted claims for the pool. A risk can be an asset or underlying that is covered in a coverage.
Cover stores the deposited collateral funds for the coverage and handle minting and burning of covTokens, redeeming of collaterals
CoverERC20 the ERC20 covToken contract, normal ERC20 funcs with a few Cover specific func.
ClaimManagement (ClaimConfig is part of that) manages the claiming process of Cover Protocol. It may call CoverPool on ..* enactClaim when a claim is accepted ..* setNoclaimRedeemDelay when a claim is filed or all claims are decided

Privileged roles and consequences

Responder (multi-sig) can pause the protocol, it will pause all user interactions but not owner access (below).
- Pause adding new cover
- Pause future token conversion
- Pause redeem back collateral
- Pause redeem with claims
Owner of Factory (Dev multi-sig): normal operations of the protocol including
- Onboard new cover pools, expiries, collaterals, etc
- Add and delete risks in the Cover pools
- Update cover pool status
- Update parameters like feeRate and currency, CVC groups
- Pause the protocol
ClaimManager (contract): can enact a claim on Cover Pools, which will trigger a nonce increment and payout.
Treasury (multi-sig / contracts / EOA): it receives fees. By deployment it will be a multi-sig, but it can be any account.
CVC (multi-sig): can decide a claim with triggers the ClaimManager calls the cover pool. A majority of the CVC group have to agree on the validity of the claim and its payout distrobution.

Limitations

⚠ Warning: Rebasing and deflationary tokens are not supported as collateral!

Development

run npm install to install all node dependencies
run npx hardhat compile to compile

Run Test With hardhat EVM (as an independent node)

Run npx hardhat node to setup a local blockchain emulator in one terminal.
npx hardhat test --network localhost run tests in a new terminal. npx hardhat node restart required after full test run. As the blockchain timestamp has changed.

Coverage

run npx hardhat coverage --solcoverjs ./.solcover.js --network localhost, note one test (Should deploy Cover in two txs with CoverPool) will fail. Follow the steps above, it should pass.

Deploy to Kovan Testnet

Run npx hardhat run scripts/deploy.js --network kovan
Verify CoverPoolFactory: args - (coverPoolImpl, coverImpl, coverERC20Impl, treasury)
- npx hardhat verify --network kovan 0xDC265877074655DF30712Cb59B5b24eBE51df698 "0x907c2eDC9A31E0d6230FaC98B2e6E441bE61E7cB" "0xa7515d4eB1eA8a57B879D4A4c267647f080B44f8" "0x3Ff814F5D104Ee696F721A600A8def5D8346858D" "0xe50fb5e4f608d96beb8b4364522e189fb98d821d"
Verify Claim Management: args - (fee, treasury, coverPoolFactory, defaultCVC/auditor)
- npx hardhat verify --network kovan 0x584288Fa61D899066aCad1deF556ca0f3DB0e469 "0x4F96Fe3b7A6Cf9725f59d353F723c1bDb64CA6Aa" "0xe50fb5e4f608d96beb8b4364522e189fb98d821d" "0xF975ED6E2296Ec6953Dd77450Fb23389053d188F" "0x92E812467Df28763814f465048ae4c2AFfAd7631"
Verify Implementations:
- npx hardhat verify --network kovan {address}
View on Kovan npx hardhat run scripts/view.js --network kovan

sbvhev / lottery-contract