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Witch.md

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Witch

Point

event Point(bytes32 param, address value)

IlkSet

event IlkSet(bytes6 ilkId, uint32 duration, uint64 initialOffer, uint96 line, uint24 dust, uint8 dec)

Bought

event Bought(bytes12 vaultId, address buyer, uint256 ink, uint256 art)

Auctioned

event Auctioned(bytes12 vaultId, uint256 start)

Auction

struct Auction {
  address owner;
  uint32 start;
}

Ilk

struct Ilk {
  uint32 duration;
  uint64 initialOffer;
}

Limits

struct Limits {
  uint96 line;
  uint24 dust;
  uint8 dec;
  uint128 sum;
}

cauldron

contract ICauldron cauldron

ladle

contract ILadle ladle

auctions

mapping(bytes12 => struct Witch.Auction) auctions

ilks

mapping(bytes6 => struct Witch.Ilk) ilks

limits

mapping(bytes6 => struct Witch.Limits) limits

constructor

constructor(contract ICauldron cauldron_, contract ILadle ladle_) public

point

function point(bytes32 param, address value) external

Point to a different ladle

setIlk

function setIlk(bytes6 ilkId, uint32 duration, uint64 initialOffer, uint96 line, uint24 dust, uint8 dec) external

_Governance function to set:

  • the auction duration to calculate liquidation prices
  • the proportion of the collateral that will be sold at auction start
  • the maximum collateral that can be auctioned at the same time
  • the minimum collateral that must be left when buying, unless buying all
  • The decimals for maximum and minimum_

auction

function auction(bytes12 vaultId) external

Put an undercollateralized vault up for liquidation.

buy

function buy(bytes12 vaultId, uint128 base, uint128 min) external returns (uint256 ink)

Pay base of the debt in a vault in liquidation, getting at least min collateral. Use payAll to pay all the debt, using buy for amounts close to the whole vault might revert.

payAll

function payAll(bytes12 vaultId, uint128 min) external returns (uint256 ink)

Pay all debt from a vault in liquidation, getting at least min collateral.

settle

function settle(address user, bytes6 ilkId, bytes6 baseId, uint128 ink, uint128 art) private

Move base from the buyer to the protocol, and collateral from the protocol to the buyer

inkPrice

function inkPrice(struct DataTypes.Balances balances, uint256 initialOffer_, uint256 duration_, uint256 elapsed) private pure returns (uint256 price)

Price of a collateral unit, in underlying, at the present moment, for a given vault. Rounds up, sometimes twice. ink min(auction, elapsed) price = (------- * (p + (1 - p) * -----------------------)) art auction

_isVaultUndercollateralised

function _isVaultUndercollateralised(bytes12 vaultId) internal virtual returns (bool)