AccountingEngine
receives both system surplus and system debt. It covers deficits via debt auctions and disposes off surplus via auctions (Burning/RecyclingSurplusAuctionHouse
) or transfers (to extraSurplusReceiver
).contractEnabled
- settlement flag (1
or 0
).authorizedAccounts[usr: address]
- addresses allowed to call modifyParameters()
and disableContract()
.safeEngine
- address of the SAFEEngine
.surplusAuctionHouse
- address of the PreSettlementSurplusAuctionHouse
.debtAuctionHouse
- address of the DebtAuctionHouse
.systemStakingPool
- the system's staking pool acting as lender of first resort.extraSurplusReceiver
- address that receives surplus in case the strategy to get rid of excessive surplus is transfer instead of auction.debtQueue[timestamp: uint256]
- the system debt queue. The LiquidationEngine
adds a new debt block every time it starts a new collateral auction. Each block can be popped out of the list after popDebtDelay
seconds.debtPoppers[timestamp: uint256]
- mapping that records the addresses which pop debt out of debtQueue
.lastSurplusTransferTime
- the last timestamp when the engine transferred extra surplus out.lastSurplusAuctionTime
- the last timestamp when the engine auctioned extra surplus.surplusTransferDelay
- the minimum delay between two consecutive extra surplus transfers.surplusAuctionDelay
- the minimum delay between two consecutive extra surplus auctions.extraSurplusIsTransferred
- 0
if extra surplus is auctioned, 1
if it's transferred.postSettlementSurplusDrain
- contract meant to auction/dispose off any remaining surplus after the AccountingEngine
is disabled (and in case surplus couldn't be settled with bad debt because of a bug).protocolTokenAuthority
- address of authority contract that says which addresses are able to mint an burn protocol tokens.totalQueuedDebt
- the total amount of debt in the queue.totalOnAuctionDebt
- the total amount of debt being auctioned in the DebtAuctionHouse
.popDebtDelay
- length of time for which a debt block must stay in the debtQueue
.debtAuctionBidSize
- the fixed amount of debt to be covered by a single debt auction.initialDebtAuctionMintedTokens
- the starting amount of protocol tokens offered to cover the auctioned debt.surplusAuctionAmountToSell
- amount of surplus to be sold in a single surplus auction.surplusTransferAmount
- the amount of extra surplus that is transferred with transferExtraSurplus()
.surplusBuffer
- threshold that must be exceeded before surplus auctions are possible.disableCooldown
- time that must elapse after the AccountingEngine
is disabled and until it can send all its remaining surplus to the postSettlementSurplusDrain
. Must be bigger than GlobalSettlement.shutdownCooldown
.disableTimestamp
- timestamp when the AccountingEngine
was disabled.isAuthorized
- checks whether an address is part of authorizedAddresses
(and thus can call authed functions).modifyParameters(bytes32 parameter
, uint256 data)
- update a uint256
parameter.modifyParameters(bytes32 parameter
, address data)
- update an address
parameter.addAuthorization(usr: address)
- add an address to authorizedAddresses
.removeAuthorization(usr: address)
- remove an address from authorizedAddresses
.canPrintProtocolTokens() public view returns (bool)
- returns true
if systemStakingPool
is null or if systemStakingPool.canPrintProtocolTokens()
reverts. Returns true or false depending on what systemStakingPool.canPrintProtocolTokens()
returns.pushDebtToQueue(debtBlock: uint256)
- adds a bad debt block to the auctions queue.popDebtFromQueue(timestamp: uint256)
- release a debt block from the debt queue.settleDebt(rad: uint256)
- calls settleDebt
on the safeEngine
in order to cancel out surplus and debt.cancelAuctionedDebtWithSurplus(rad: uint256)
- cancels out surplus coming from DebtAuctionHouse
auctions and auctioned (bad) debt.auctionSurplus()
- trigger a surplus auction (SurplusAuctionHouse.startAuction
).transferExtraSurplus()
- transfers extra surplus (above the surplusBuffer
) from the engine to extraSurplusReceiver
.auctionDebt()
- trigger a deficit auction (DebtAuctionHouse.startAuction
).settleDebtAuction(id: uint256)
- authed function meant to be called by debtAuctionHouse
in order to signal that a specific auction settled.transferPostSettlementSurplus()
- transfer any post settlement, leftover surplus to thepostSettlementSurplusDrain
. Meant to be a backup in case GlobalSettlement.processSAFE
has a bug (cannot process a specific Safe), governance doesn't have power over the system and there's still surplus left in the AccountingEngine
which then blocks GlobalSettlement.setOutstandingCoinSupply
.disableContract()
- set contractEnabled
to zero and settle as much remaining debt as possible (if any)AddAuthorization
- emitted when a new address becomes authorized. Contains:account
- the new authorized accountRemoveAuthorization
- emitted when an address is de-authorized. Contains:ModifyParameters
- emitted when a parameter is modifiedPushDebtToQueue
- emitted when a new debt block is added to debtQueue
. Contains:timestamp
- timestamp at which the debt block is pushed into debtQueue
debtQueueBlock
- the size of the debt blocktotalQueuedDebt
- total amount of queued debt in the queuePopDebtFromQueue
- emitted when a debt block is popped out of the debtQueue
. Contains:timestamp
- timestamp from which all the debt is popped out of the queuedebtQueueBlock
- amount of debt popped from the queuetotalQueuedDebt
- total remaining amount of queued debt in the queueSettleDebt
- emitted when an amount of debt that is not queued or in a debt auction is settled with an equal amount of surplus. Contains:rad
- the amount of debt to settlecoinBalance
- the remaining amount of surplus after the debt is settleddebtBalance
- the remaining amount of debt after rad
debt is settledCancelAuctionedDebtWithSurplus
- emitted when the contract settles debt that was in a debt auction. Contains:rad
- amount of auctioned debt to settletotalOnAuctionDebt
- remaining amount of debt being auctionedcoinBalance
- the AccountingEngine
's coin balance after the debt is settleddebtBalance
- remaining amount of debt AuctionDebt
- emitted when a new debt auction starts. Contains:id
- the ID of the new debt auctiontotalOnAuctionDebt
- total debt being auctioned across all debt auctionsdebtBalance
- the AccountingEngine
's debt balance in the SAFEEngine
AuctionSurplus
- emitted when a new surplus auction starts. Contains:id
- the ID of the new surplus auctionlastSurplusAuctionTime
- the current timestamp which is now the last time when a surplus auction was triggeredcoinBalance
- the AccountingEngine
's surplus balanceDisableContract
- emitted when the contract is disabledTransferPostSettlementSurplus
- emitted when any remaining surplus after the contract is disabled is transferred to the postSettlementSurplusDrain.
Contains:postSettlementSurplusDrain
- the address of the surplus draincoinBalance
- the remaining surplus balance of the AccountingEngine
debtBalance
- the remaining debt balance of the AccountingEngine
TransferExtraSurplus
- emitted when extra surplus is transferred to extraSurplusReceiver
. Contains:extraSurplusReceiver
- the address of the extraSurplusReceiver
lastSurplusAuctionTime
- the current block timestampcoinBalance
- the current coin balance of the AccountingEngine
now that some surplus has been transferredAccountingEngine
. This occurs at the block timestamp of the liquidateSAFE
action (debtQueue[timestamp]
). It can be released with the help of popDebtFromQueue
once AccountingEngine.popDebtDelay
has expired. Once released, it can be settled using the surplus gathered from the SAFE's liquidation or, if there wasn't enough surplus gathered, the debt can be auctioned using the DebtAuctionHouse
. NOTE: the AccountingEngine
can start a new debt auction only if canPrintProtocolTokens
returns true
and if canPrintProtocolTokens
also doesn't unexpectedly revert.popDebtDelay
< CollateralAuctionHouse.totalAuctionLength
which would result in debt auctions starting before the associated collateral auctions could complete.AccountingEngine
has a surplus balance above the surplusBuffer
(safeEngine.coinBalance[accountingEngine]
> surplusBuffer
), if the extra surplus on top of the buffer is not reserved to nullify the engine's bad debt (safeEngine.debtBalance[accountingEngine]
) and if extraSurplusIsTransferred
is 0
, the extra surplus can be auctioned off using the Burning/RecyclingSurplusAuctionHouse
. This process results in burning protocol tokens that are being offered in exchange for the auctioned surplus.AccountingEngine
has a surplus balance above the surplusBuffer
(safeEngine.coinBalance[accountingEngine]
> surplusBuffer
), if the extra surplus on top of the buffer is not reserved to nullify the engine's bad debt (safeEngine.debtBalance[accountingEngine]
) and if extraSurplusIsTransferred
is 1
, the extra surplus can be transferred to extraSurplusReceiver
.AccountingEngine.disableContract
the system will try to settle as much remaining safeEngine.debtBalance[accountingEngine]
as possible.