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// SPDX-FileCopyrightText: © 2020 Dai Foundation <www.daifoundation.org> | ||
// SPDX-License-Identifier: AGPL-3.0-or-later | ||
// | ||
// This program is free software: you can redistribute it and/or modify | ||
// it under the terms of the GNU Affero General Public License as published by | ||
// the Free Software Foundation, either version 3 of the License, or | ||
// (at your option) any later version. | ||
// | ||
// This program is distributed in the hope that it will be useful, | ||
// but WITHOUT ANY WARRANTY; without even the implied warranty of | ||
// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the | ||
// GNU Affero General Public License for more details. | ||
// | ||
// You should have received a copy of the GNU Affero General Public License | ||
// along with this program. If not, see <https://www.gnu.org/licenses/>. | ||
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pragma solidity 0.8.16; | ||
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import "dss-exec-lib/DssExec.sol"; | ||
import "dss-exec-lib/DssAction.sol"; | ||
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import { GemAbstract } from "dss-interfaces/ERC/GemAbstract.sol"; | ||
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interface PauseLike { | ||
function setDelay(uint256) external; | ||
} | ||
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contract DssSpellAction is DssAction { | ||
// Provides a descriptive tag for bot consumption | ||
// This should be modified weekly to provide a summary of the actions | ||
// Hash: cast keccak -- "$(wget 'https://raw.githubusercontent.com/makerdao/2025-02-18-oos-spell/1b0010f35154ef5471007ad74a4a407e3055f051/Executive%20vote%20-%20February%2018%2C%202025.md?token=GHSAT0AAAAAAC46W7DIC55DYQAX2ZHGVWBIZ5VCLHQ' -q -O - 2>/dev/null)" | ||
string public constant override description = "2025-02-18 MakerDAO Emergency Executive Spell | Hash: 0xa788e118495fc4b7ac23a3e078ea52bcb0719d9de885955ffe0a02ae52c6f4ba"; | ||
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// Set office hours according to the summary | ||
function officeHours() public pure override returns (bool) { | ||
return false; | ||
} | ||
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// ---------- Rates ---------- | ||
// Many of the settings that change weekly rely on the rate accumulator | ||
// described at https://docs.makerdao.com/smart-contract-modules/rates-module | ||
// To check this yourself, use the following rate calculation (example 8%): | ||
// | ||
// $ bc -l <<< 'scale=27; e( l(1.08)/(60 * 60 * 24 * 365) )' | ||
// | ||
// A table of rates can be found at | ||
// https://ipfs.io/ipfs/QmVp4mhhbwWGTfbh2BzwQB9eiBrQBKiqcPRZCaAxNUaar6 | ||
// | ||
// uint256 internal constant X_PCT_RATE = ; | ||
uint256 internal constant TWENTY_PCT_RATE = 1000000005781378656804591712; | ||
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// ---------- Math ---------- | ||
uint256 internal constant MILLION = 10 ** 6; | ||
uint256 internal constant WAD = 10 ** 18; | ||
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// ---------- Contracts ---------- | ||
GemAbstract internal immutable MKR = GemAbstract(DssExecLib.mkr()); | ||
address internal immutable LOCKSTAKE_ENGINE = DssExecLib.getChangelogAddress("LOCKSTAKE_ENGINE"); | ||
address internal immutable MCD_PAUSE = DssExecLib.getChangelogAddress("MCD_PAUSE"); | ||
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function actions() public override { | ||
// ---------- Seal Engine Changes ---------- | ||
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// Stability fee to 20% | ||
DssExecLib.setIlkStabilityFee("LSE-MKR-A", TWENTY_PCT_RATE, /* _doDrip */ true); | ||
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// Debt ceiling to 45m | ||
// Gap to 45m | ||
// TTL to 30 min | ||
DssExecLib.setIlkAutoLineParameters("LSE-MKR-A", /* amount */ 45 * MILLION, /* gap */ 45 * MILLION, /* ttl */ 30 minutes); | ||
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// Liquidation Ratio to 125% | ||
DssExecLib.setIlkLiquidationRatio("LSE-MKR-A", /* _pct_bps */ 125_00); | ||
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// Exit fee to 0% | ||
DssExecLib.setValue(LOCKSTAKE_ENGINE, "fee", 0); | ||
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// ---------- Reduce GSM delay ---------- | ||
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// GSM delay to 18h | ||
PauseLike(MCD_PAUSE).setDelay(18 hours); | ||
} | ||
} | ||
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contract DssSpell is DssExec { | ||
constructor() DssExec(block.timestamp + 30 days, address(new DssSpellAction())) {} | ||
} |
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