cleancoindev / dss-add-ilk-spell

Spell template for adding a new collateral type

Dss Add Ilk Spell

Spell contract to deploy a new collateral type in the DSS system.

Additional Documentation

• dss-deploy source code
• dss source code

Deployment

Prerequisites:

• seth/dapp (https://dapp.tools/)
• Have a DSS instance running

Steps:

1. Export contract variables

• export TOKEN=<TOKEN ADDR>
• export PIP=<TOKEN/USD FEED ADDR>
• export ILK="$(seth --to-bytes32 "$(seth --from-ascii "<COLLATERAL NAME>")")"
• export MCD_VAT=<VAT ADDR>
• export MCD_CAT=<CAT ADDR>
• export MCD_JUG=<JUG ADDR>
• export MCD_SPOT=<SPOTTER ADDR>
• export MCD_PAUSE=<PAUSE ADDR>
• export MCD_PAUSE_PROXY=<PAUSE PROXY ADDR>
• export MCD_ADM=<CHIEF ADDR>
• export MCD_END=<END ADDR>

2. Deploy Adapter (e.g. GemJoin)

• export JOIN=$(dapp create GemJoin "$MCD_VAT" "$ILK" "$TOKEN")

3. Deploy Flip Auction and set permissions (e.g. Flipper)

• export FLIP=$(dapp create Flipper "$MCD_VAT" "$ILK")

• seth send "$FLIP" 'rely(address)' "$MCD_PAUSE_PROXY"

• seth send "$FLIP" 'deny(address)' "$ETH_FROM"

4. Export New Collateral Type variables

• export LINE=<DEBT CEILING VALUE> (e.g. 5M DAI "$(seth --to-uint256 $(echo "5000000"*10^45 | bc))")
• export MAT=<LIQUIDATION RATIO VALUE> (e.g. 150% "$(seth --to-uint256 $(echo "150"*10^25 | bc))")
• export DUTY=<STABILITY FEE VALUE> (e.g. 1% yearly "$(seth --to-uint256 1000000000315522921573372069)")
• export CHOP=<LIQUIDATION PENALTY VALUE> (e.g. 10% "$(seth --to-uint256 $(echo "110"*10^25 | bc))")
• export LUMP=<LIQUIDATION QUANTITY VALUE> (e.g. 1K DAI "$(seth --to-uint256 $(echo "1000"*10^18 | bc))")

5. Deploy Spell

• export SPELL=$(seth send --create out/DssAddIlkSpell.bin 'DssAddIlkSpell(bytes32,address,address[8] memory,uint256[5] memory)' $ILK $MCD_PAUSE ["${MCD_VAT#0x}","${MCD_CAT#0x}","${MCD_JUG#0x}","${MCD_SPOT#0x}","${MCD_END#0x}","${JOIN#0x}","${PIP#0x}","${FLIP#0x}"] ["$LINE","$MAT","$DUTY","$CHOP","$LUMP"])

6. Create slate

• seth send "$MCD_ADM" 'etch(address[] memory)' ["${SPELL#0x}"]

7. Wait for the Spell to be elected

8. Schedule Spell

• seth send "$SPELL" 'schedule()'

9. Wait for Pause delay

10. Cast Spell

• seth send "$SPELL" 'cast()'