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FeeCollector.vy

GitHub

The source code of the FeeCollector.vy contract can be found on GitHub.

The FeeCollector is the entry point for the fee burning and distribution mechanism and acts as a universal contract where all admin fees1 from various revenue sources within the Curve ecosystem are collected. The two main revenue streams for the DAO are fees collected from liquidity pools and the interest earned through crvUSD markets.

Most admin fees are collected in "regular" tokens, though sometimes they are LP tokens. For the system, this distinction does not make any difference.

The contract has a flexible architecture by introducing a target variable, which represents the coin into which all the various fee tokens are burned. This variable can be changed to any token, although it requires a successfully passed on-chain vote, as this contract is under the control of the Curve DAO.


Epochs

The contract operates in different epochs (phases) in which certain actions are possible.

The epoch function and its related internal functions are used to determine the current operational phase of the contract based on the timestamp. The contract operates in different phases (epochs) that dictate what actions can be performed at any given time. This helps in organizing the contract's workflow and ensuring that certain operations only occur during specific periods.

enum Epoch:
    SLEEP  # 1
    COLLECT  # 2
    EXCHANGE  # 4
    FORWARD  # 8

Each epoch represents a different state of the contract:

  • SLEEP: The contract is idle.
  • COLLECT: The contract is in a state where it collects fees.
  • EXCHANGE: The contract "burns" (exchanges) collected fees into the target coin.
  • FORWARD: The contract forwards the accumulated target coin to the FeeDistributor.

The EPOCH_TIMESTAMPS constant defines the start times for each epoch within a week:

START_TIME: constant(uint256) = 1600300800  # ts of distribution start
WEEK: constant(uint256) = 7 * 24 * 3600
EPOCH_TIMESTAMPS: constant(uint256[17]) = [
    0, 0,  # 1
    4 * 24 * 3600,  # 2
    0, 5 * 24 * 3600,   # 4
    0, 0, 0, 6 * 24 * 3600,  # 8
    0, 0, 0, 0, 0, 0, 0, WEEK,  # 16, next period
]

Start and Duration of Epochs

The SLEEP epoch lasts for a total of four days, followed by one day of COLLECT, one day of EXCHANGE, and one day of FORWARD.

Epoch start is not on Monday. The first fee distribution started on Thu Sep 17 2020 00:00:00 GMT+0000 (1600300800)`. Therefore, day 0 of each new epoch starts on Thursday at 00:00:00 GMT.

epoch

FeeCollector.epoch(ts: uint256=block.timestamp) -> Epoch

Getter for the current epoch based on a given timestamp.

Returns: current epoch value which corresponds to the Epoch enum(uint256).

Input Type Description
ts uint256 Timestamp. Defaults to msg.sender
Source code
enum Epoch:
    SLEEP  # 1
    COLLECT  # 2
    EXCHANGE  # 4
    FORWARD  # 8

@external
@view
def epoch(ts: uint256=block.timestamp) -> Epoch:
    """
    @notice Get epoch at certain timestamp
    @param ts Timestamp. Current by default
    @return Epoch
    """
    return self._epoch_ts(ts)

@internal
@pure
def _epoch_ts(ts: uint256) -> Epoch:
    ts = (ts - START_TIME) % WEEK
    for epoch in [Epoch.SLEEP, Epoch.COLLECT, Epoch.EXCHANGE, Epoch.FORWARD]:
        if ts < EPOCH_TIMESTAMPS[2 * convert(epoch, uint256)]:
            return epoch
    raise UNREACHABLE
>>> FeeCollector.epoch()
2

epoch_time_frame

FeeCollector.epoch_time_frame(_epoch: Epoch, _ts: uint256=block.timestamp) -> (uint256, uint256)

Getter for the time frame for a specific epoch and timestamp.

Returns: start and end of the epoch (uint256).

Input Type Description
_epoch uint256 Index of the Epoch enum for which to check start and end for.
_ts uint256 Timestamp to anochr to. Defaults to the current one (block.timestamp).
Source code
@external
@view
def epoch_time_frame(_epoch: Epoch, _ts: uint256=block.timestamp) -> (uint256, uint256):
    """
    @notice Get time frame of certain epoch
    @param _epoch Epoch
    @param _ts Timestamp to anchor to. Current by default
    @return [start, end) time frame boundaries
    """
    return self._epoch_time_frame(_epoch, _ts)

@internal
@pure
def _epoch_time_frame(epoch: Epoch, ts: uint256) -> (uint256, uint256):
    subset: uint256 = convert(epoch, uint256)
    assert subset & (subset - 1) == 0, "Bad Epoch"

    ts = ts - (ts - START_TIME) % WEEK
    return (ts + EPOCH_TIMESTAMPS[convert(epoch, uint256)], ts + EPOCH_TIMESTAMPS[2 * convert(epoch, uint256)])
>>> FeeCollector.epoch_time_frame(1)        # SLEEP
(1718236800, 1718582400)

>>> FeeCollector.epoch_time_frame(2)        # COLLECT
(1718582400, 1718668800)

>>> FeeCollector.epoch_time_frame(4)        # EXCHANGE
(1718668800, 1718755200)

>>> FeeCollector.epoch_time_frame(8)        # FORWARD
(1718755200, 1718841600)

Keeper's Fee

The FeeCollector contract has a keeper's fee, which incentivizes external users or bots to perform specific actions at the appropriate times within the different epochs. The fee mechanism ensures that these operations are carried out reliably and efficiently by rewarding the entities that execute them.

fee

FeeCollector.fee(_epoch: Epoch=empty(Epoch), _ts: uint256=block.timestamp) -> uint256

Getter for the caller fee based on an epoch and timestamp. If no input is given, it returns the caller fee of the current epoch. The fee is dependent on the current epoch. The fee (except the one for the forward function) is optional and up to the burner implementation. The value starts at 0 and continuously increases to max_fee (1%), but burner contracts can have their own fee values. The reason for this is that it makes sense to pay the fee in the target token instead of many different coins, but the current CoWSwap architecture makes this very complicated to do.

Returns: fee of the epoch (uint256).

Input Type Description
_epoch uint256 Index of the epoch. Defaults to the current epoch.
_ts uint256 Timestamp. Defaults to block.timestamp
Source code
@external
@view
def fee(_epoch: Epoch=empty(Epoch), _ts: uint256=block.timestamp) -> uint256:
    """
    @notice Calculate keeper's fee
    @param _epoch Epoch to count fee for
    @param _ts Timestamp of collection
    @return Fee with base 10^18
    """
    if _epoch == empty(Epoch):
        return self._fee(self._epoch_ts(_ts), _ts)
    return self._fee(_epoch, _ts)

@internal
@view
def _fee(epoch: Epoch, ts: uint256) -> uint256:
    start: uint256 = 0
    end: uint256 = 0
    start, end = self._epoch_time_frame(epoch, ts)
    if ts >= end:
        return 0
    return self.max_fee[convert(epoch, uint256)] * (ts + 1 - start) / (end - start)

@internal
@pure
def _epoch_ts(ts: uint256) -> Epoch:
    ts = (ts - START_TIME) % WEEK
    for epoch in [Epoch.SLEEP, Epoch.COLLECT, Epoch.EXCHANGE, Epoch.FORWARD]:
        if ts < EPOCH_TIMESTAMPS[2 * convert(epoch, uint256)]:
            return epoch
    raise UNREACHABLE
>>> FeeCollector.fee()
8375000000000000

max_fee

FeeCollector.max_fee(arg0: uint256) -> uint256: view

Getter for the maximum fee of an epoch. Maximum fee is set to 1% for the COLLECT and FORWARD epochs. This value can be changed by the owner of the contract using the set_max_fee function.

Returns: maximum fee (uint256).

Emits: SetMaxFee at contract initialization

Input Type Description
_epoch uint256 Epoch enum for which to check the maximum fee.
Source code
event SetMaxFee:
    epoch: indexed(Epoch)
    max_fee: uint256

enum Epoch:
    SLEEP  # 1
    COLLECT  # 2
    EXCHANGE  # 4
    FORWARD  # 8

max_fee: public(uint256[9])  # max_fee[Epoch]

@external
def __init__(_target_coin: ERC20, _weth: wETH, _owner: address, _emergency_owner: address):
    """
    @notice Contract constructor
    @param _target_coin Coin to swap to
    @param _weth Wrapped ETH(native coin) address
    @param _owner Owner address
    @param _emergency_owner Emergency owner address. Can kill the contract
    """
    ...
    self.max_fee[convert(Epoch.COLLECT, uint256)] = ONE / 100  # 1%
    self.max_fee[convert(Epoch.FORWARD, uint256)] = ONE / 100  # 1%
    ...
    log SetMaxFee(Epoch.COLLECT, ONE / 100)
    log SetMaxFee(Epoch.FORWARD, ONE / 100)
    ...
>>> FeeCollector.max_fee(1)         # SLEEP
0

>>> FeeCollector.max_fee(2)         # COLLECT
10000000000000000

set_max_fee

FeeCollector.set_max_fee(_epoch: uin256, _max_fee: uint256)

Guarded Method

This function is only callable by the owner of the contract.

Function to set max_fee for a specific epoch. The maximum fee cannot be greater than 1 (100%).

Emits: SetMaxFee

Input Type Description
_epoch uint256 Index of the Epoch enum for which to set the maximum fee.
_max_fee uint256 Maximum fee.
Source code
event SetMaxFee:
    epoch: indexed(Epoch)
    max_fee: uint256

@external
def set_max_fee(_epoch: Epoch, _max_fee: uint256):
    """
    @notice Set keeper's max fee
    @dev Callable only by owner
    @param _epoch Epoch to set fee for
    @param _max_fee Maximum fee to set
    """
    assert msg.sender == self.owner, "Only owner"
    subset: uint256 = convert(_epoch, uint256)
    assert subset & (subset - 1) == 0, "Bad Epoch"
    assert _max_fee <= ONE, "Bad max_fee"
    self.max_fee[convert(_epoch, uint256)] = _max_fee

    log SetMaxFee(_epoch, _max_fee)
>>> soon

Burn Process

The FeeCollector contract has a target variable, which represents the coin into which all the collected fees are "burned" into. This variable can be changed by the owner of the contract using the set_target function. As the owner of the contract is the Curve DAO, a on-chain proposal needs to be successfully passed to make any changes.

The general flow of the fee burning process is the following:

  1. Admin fees are collected from pools or other revenue sources using the withdraw_many function. While fees from older pools need to be claimed manually, the accrued fees from newer pools (mostly NG pools) are periodically claimed when removing liquidity from the pool.
  2. The accrued tokens can be burned by calling the collect function. This creates, if there isn't already one, a conditional order on CowSwap which automatically exchanges the fee tokens into the target coin. Admin fees can only be burned during the EXCHANGE epoch. If collect is called during the COLLECT epoch, the coins are transferred to the CowSwapBurner, and a conditional order is created, but the order is not yet valid and is waiting for the WatchTower to place the order with the CowSwap API.
  3. After burning the tokens, they can be forwarded to the FeeDistributor using the forward function.

target

FeeCollector.target() -> address: view

Getter for the target coin to which the fees are converted to. This is essentially the reward token that is being distributed to veCRV holders.

Returns: target coin (address).

Emits: SetTarget at contract initialization

Source code
event SetTarget:
    target: indexed(ERC20)

target: public(ERC20)  # coin swapped into

@external
def __init__(_target_coin: ERC20, _weth: wETH, _owner: address, _emergency_owner: address):
    """
    @notice Contract constructor
    @param _target_coin Coin to swap to
    @param _weth Wrapped ETH(native coin) address
    @param _owner Owner address
    @param _emergency_owner Emergency owner address. Can kill the contract
    """
    self.target = _target_coin
    ...
    log SetTarget(_target_coin)
    ...
>>> FeeCollector.target()
'0xf939E0A03FB07F59A73314E73794Be0E57ac1b4E'

set_target

FeeCollector.set_target(_new_target: ERC20)

Guarded Method

This function is only callable by the owner of the contract.

Function to change the target coin of the contract.

Emits: SetTarget

Input Type Description
_new_target address Token address of the new target coin.
Source code
event SetTarget:
    target: indexed(ERC20)

target: public(ERC20)  # coin swapped into

@external
def set_target(_new_target: ERC20):
    """
    @notice Set new coin for fees accumulation
    @dev Callable only by owner
    @param _new_target Address of the new target coin
    """
    assert msg.sender == self.owner, "Only owner"

    target: ERC20 = self.target
    self.is_killed[target] = empty(Epoch)  # allow to collect and exchange
    log SetKilled(target, empty(Epoch))

    self.target = _new_target
    self.is_killed[_new_target] = Epoch.COLLECT | Epoch.EXCHANGE  # Keep target coin in contract
    log SetTarget(_new_target)
    log SetKilled(_new_target, Epoch.COLLECT | Epoch.EXCHANGE)
>>> soon

withdraw_many

FeeCollector.withdraw_many(_pools: DynArray[address, MAX_LEN])

Guarded

This function does not work with all pools, as some of them have a msg.sender == owner guard with a pool proxy as the owner.

Function to withdraw admin fees from multiple Curve pools. Maximum amount of pools to withdraw from within a single function call is 64. This function can be called by anyone and at any time. While the fee claiming of new-generation (NG) pools is partly automated, the fees of older pools or crvUSD market need to claimed manually. This function only works on contracts with a withdraw_admin_fees function. E.g. accrued fees from crvUSD markets are collected via a collect_fees function, therefore this function can not be used to claim those fees into this contract.

Input Type Description
_pools DynArray[address, MAX_LEN] Dynamic array containing the pool addresses to claim the admin fees from.
Source code
MAX_LEN: constant(uint256) = 64

interface Curve:
    def withdraw_admin_fees(): nonpayable

@external
def withdraw_many(_pools: DynArray[address, MAX_LEN]):
    """
    @notice Withdraw admin fees from multiple pools
    @param _pools List of pool address to withdraw admin fees from
    """
    for pool in _pools:
        Curve(pool).withdraw_admin_fees()
>>> soon

collect

FeeCollector.collect(_coins: DynArray[ERC20, MAX_LEN], _receiver: address=msg.sender)

Function that is the primary mechanism for burning coins and can only be called during the COLLECT epoch. It calls the burn function of the burner contract, which creates a conditional order on CowSwap if one has not already been created. This process effectively "burns" the collected coins by swapping them into the target coin. Additionally, the caller is awarded a keeper fee for their role in the process.

Input Type Description
_coins DynArray[ERC20, MAX_LEN] Dynamic array of coin addresses sorted in ascending order.
_receiver address Receiver of keeper fee.
Source code
MAX_LEN: constant(uint256) = 64

@external
@nonreentrant("collect")
def collect(_coins: DynArray[ERC20, MAX_LEN], _receiver: address=msg.sender):
    """
    @notice Collect earned fees. Collection should happen under callback to earn caller fees.
    @param _coins Coins to collect sorted in ascending order
    @param _receiver Receiver of caller `collect_fee`s
    """
    assert self._epoch_ts(block.timestamp) == Epoch.COLLECT, "Wrong epoch"
    assert not self.is_killed[ALL_COINS] in Epoch.COLLECT, "Killed epoch"

    for i in range(len(_coins), bound=MAX_LEN):
        assert not self.is_killed[_coins[i]] in Epoch.COLLECT, "Killed coin"
        # Eliminate case of repeated coins
        if i > 0:
            assert convert(_coins[i].address, uint160) > convert(_coins[i - 1].address, uint160), "Coins not sorted"

    self.burner.burn(_coins, _receiver)
interface FeeCollector:
    def fee(_epoch: Epoch=empty(Epoch), _ts: uint256=block.timestamp) -> uint256: view
    def target() -> ERC20: view
    def owner() -> address: view
    def emergency_owner() -> address: view
    def epoch_time_frame(epoch: Epoch, ts: uint256=block.timestamp) -> (uint256, uint256): view
    def can_exchange(_coins: DynArray[ERC20, MAX_COINS_LEN]) -> bool: view
    def transfer(_transfers: DynArray[Transfer, MAX_COINS_LEN]): nonpayable

struct ConditionalOrderParams:
    # The contract implementing the conditional order logic
    handler: address  # self
    # Allows for multiple conditional orders of the same type and data
    salt: bytes32  # Not used for now
    # Data available to ALL discrete orders created by the conditional order
    staticData: Bytes[STATIC_DATA_LEN]  # Using coin address

interface ComposableCow:
    def create(params: ConditionalOrderParams, dispatch: bool): nonpayable
    def domainSeparator() -> bytes32: view
    def isValidSafeSignature(
        safe: address, sender: address, _hash: bytes32, _domainSeparator: bytes32, typeHash: bytes32,
        encodeData: Bytes[15 * 32],
        payload: Bytes[(32 + 3 + 1 + 8) * 32],
    ) -> bytes4: view

@external
def burn(_coins: DynArray[ERC20, MAX_COINS_LEN], _receiver: address):
    """
    @notice Post hook after collect to register coins for burn
    @dev Registers new orders in ComposableCow
    @param _coins Which coins to burn
    @param _receiver Receiver of profit
    """
    assert msg.sender == fee_collector.address, "Only FeeCollector"

    fee: uint256 = fee_collector.fee(Epoch.COLLECT)
    fee_payouts: DynArray[Transfer, MAX_COINS_LEN] = []
    self_transfers: DynArray[Transfer, MAX_COINS_LEN] = []
    for coin in _coins:
        if not self.created[coin]:
            composable_cow.create(ConditionalOrderParams({
                handler: self,
                salt: empty(bytes32),
                staticData: concat(b"", convert(coin.address, bytes20)),
            }), True)
            coin.approve(vault_relayer, max_value(uint256))
            self.created[coin] = True
        amount: uint256 = coin.balanceOf(fee_collector.address) * fee / ONE
        fee_payouts.append(Transfer({coin: coin, to: _receiver, amount: amount}))
        self_transfers.append(Transfer({coin: coin, to: self, amount: max_value(uint256)}))

    fee_collector.transfer(fee_payouts)
    fee_collector.transfer(self_transfers)
>>> soon

can_exchange

FeeCollector.can_exchange(_coins: DynArray[ERC20, MAX_LEN]) -> bool

Function to check whether specified coins are allowed to be exchanged at the current timestamp. It verifies that the current epoch is EXCHANGE and that the coins to be exchanged are not marked as killed.

Returns: true or false (bool).

Input Type Description
can_exchange DynArray[ERC20, MAX_LEN] Dynamic array of ERC20 token addresses to check for exchange eligibility.
Source code
MAX_LEN: constant(uint256) = 64

@external
@view
def can_exchange(_coins: DynArray[ERC20, MAX_LEN]) -> bool:
    """
    @notice Check whether coins are allowed to be exchanged
    @param _coins Coins to exchange
    @return Boolean value if coins are allowed to be exchanged
    """
    if self._epoch_ts(block.timestamp) != Epoch.EXCHANGE or\
        self.is_killed[ALL_COINS] in Epoch.EXCHANGE:
        return False
    for coin in _coins:
        if self.is_killed[coin] in Epoch.EXCHANGE:
            return False
    return True
>>> FeeCollector.can_exchange(['0xf939E0A03FB07F59A73314E73794Be0E57ac1b4E'])
'false'

transfer

FeeCollector.transfer(_transfers: DynArray[Transfer, MAX_LEN])

Guarded Method

This function is only callable by the burner contract.

Function to transfer coins. This function can only be called during the COLLECT or EXCHANGE epochs and is used to transfer the different admin fee tokens to the burner contract when calling the collect function. This function is effectively needed to remove all approvals from previous burners in case of any malfunctioning or the misuse of any collected coins.

Input Type Description
_transfers DynArray[Transfer, MAX_LEN] Dynamic array of Transfer structs.

Each Transfer struct contains:

  • coin: address - The ERC20 token address that is being transferred.
  • to: address - The address to which the tokens will be transferred.
  • amount: uint256 - The amount of tokens to transfer. If set to 2^256-1, it transfers the entire balance.
Source code
struct Transfer:
    coin: ERC20
    to: address
    amount: uint256  # 2^256-1 for the whole balance

MAX_LEN: constant(uint256) = 64

@external
@nonreentrant("transfer")
def transfer(_transfers: DynArray[Transfer, MAX_LEN]):
    """
    @dev No approvals so can change burner easily
    @param _transfers Transfers to apply
    """
    assert msg.sender == self.burner.address, "Only Burner"
    epoch: Epoch = self._epoch_ts(block.timestamp)
    assert epoch in Epoch.COLLECT | Epoch.EXCHANGE, "Wrong Epoch"

    for transfer in _transfers:
        assert not self.is_killed[transfer.coin] in epoch, "Killed coin"

        amount: uint256 = transfer.amount
        if amount == max_value(uint256):
            amount = transfer.coin.balanceOf(self)
        assert transfer.coin.transfer(transfer.to, amount, default_return_value=True)
interface FeeCollector:
    def fee(_epoch: Epoch=empty(Epoch), _ts: uint256=block.timestamp) -> uint256: view
    def target() -> ERC20: view
    def owner() -> address: view
    def emergency_owner() -> address: view
    def epoch_time_frame(epoch: Epoch, ts: uint256=block.timestamp) -> (uint256, uint256): view
    def can_exchange(_coins: DynArray[ERC20, MAX_COINS_LEN]) -> bool: view
    def transfer(_transfers: DynArray[Transfer, MAX_COINS_LEN]): nonpayable

@external
def burn(_coins: DynArray[ERC20, MAX_COINS_LEN], _receiver: address):
    """
    @notice Post hook after collect to register coins for burn
    @dev Registers new orders in ComposableCow
    @param _coins Which coins to burn
    @param _receiver Receiver of profit
    """
    assert msg.sender == fee_collector.address, "Only FeeCollector"

    fee: uint256 = fee_collector.fee(Epoch.COLLECT)
    fee_payouts: DynArray[Transfer, MAX_COINS_LEN] = []
    self_transfers: DynArray[Transfer, MAX_COINS_LEN] = []
    for coin in _coins:
        if not self.created[coin]:
            composable_cow.create(ConditionalOrderParams({
                handler: self,
                salt: empty(bytes32),
                staticData: concat(b"", convert(coin.address, bytes20)),
            }), True)
            coin.approve(vault_relayer, max_value(uint256))
            self.created[coin] = True
        amount: uint256 = coin.balanceOf(fee_collector.address) * fee / ONE
        fee_payouts.append(Transfer({coin: coin, to: _receiver, amount: amount}))
        self_transfers.append(Transfer({coin: coin, to: self, amount: max_value(uint256)}))

    fee_collector.transfer(fee_payouts)
    fee_collector.transfer(self_transfers)
>>> soon

forward

FeeCollector.forward(_hook_inputs: DynArray[HookInput, MAX_HOOK_LEN], _receiver: address=msg.sender) -> uint256

Function to transfer the target coin to the hooker address. This function can only be called during the FORWARD epoch. It charges a keeper fee on the entire balance of the forwarded coins and awards it to the caller. The function also calls the push_target function of the burner contract to transfer any remaining target coins back into the FeeCollector contract before forwarding the total balance to the hooker. Additionally, the function calls the duty_act method of the hooker contract, applying any specified hooks and adjusting the fee accordingly.

Returns: received keeper fee (uint256)

Input Type Description
_hook_inputs DynArray[HookInput, MAX_HOOK_LEN] Dynamic array of HookInput structs.
_receiver address Receiver of keeper fee.

Each HookInput struct contains:

  • hook_id: uint8 - ID of the hook to execute. This ID determines which specific hook logic to apply during the duty_act call.
  • value: uint256 - Value associated with the hook, which can represent the amount or specific parameter needed by the hook logic.
  • data: Bytes[8192] - Additional data required by the hook, encoded as bytes. This can include various parameters or instructions specific to the hook's functionality.
Source code
struct HookInput:
    hook_id: uint8
    value: uint256
    data: Bytes[8192]

@external
@payable
@nonreentrant("forward")
def forward(_hook_inputs: DynArray[HookInput, MAX_HOOK_LEN], _receiver: address=msg.sender) -> uint256:
    """
    @notice Transfer target coin forward
    @param _hook_inputs Input parameters for forward hooks
    @param _receiver Receiver of caller `forward_fee`
    @return Amount of received fee
    """
    assert self._epoch_ts(block.timestamp) == Epoch.FORWARD, "Wrong epoch"
    target: ERC20 = self.target
    assert not (self.is_killed[ALL_COINS] | self.is_killed[target]) in Epoch.FORWARD, "Killed"

    self.burner.push_target()
    amount: uint256 = target.balanceOf(self)

    # Account buffer
    hooker: Hooker = self.hooker
    hooker_buffer: uint256 = hooker.buffer_amount()
    amount -= min(hooker_buffer, amount)

    fee: uint256 = self._fee(Epoch.FORWARD, block.timestamp) * amount / ONE
    target.transfer(_receiver, fee)

    target.transfer(hooker.address, amount - fee)
    if self.last_hooker_approve < (block.timestamp - START_TIME) / WEEK:  # First time this week
        target.approve(hooker.address, hooker_buffer)
        self.last_hooker_approve = (block.timestamp - START_TIME) / WEEK
    fee += hooker.duty_act(_hook_inputs, _receiver, value=msg.value)

    return fee
@external
def push_target() -> uint256:
    """
    @notice In case target coin is left in contract can be pushed to forward
    @return Amount of coin pushed further
    """
    target: ERC20 = fee_collector.target()
    amount: uint256 = target.balanceOf(self)
    if amount > 0:
        target.transfer(fee_collector.address, amount)
    return amount
event DutyAct:
    pass

event Act:
    receiver: indexed(address)
    compensation: uint256

@external
@payable
def duty_act(_hook_inputs: DynArray[HookInput, MAX_HOOKS_LEN], _receiver: address=msg.sender) -> uint256:
    """
    @notice Entry point to run hooks for FeeCollector
    @param _hook_inputs Inputs assembled by keepers
    @param _receiver Receiver of compensation (sender by default)
    @return Compensation received
    """
    if msg.sender == fee_collector.address:
        self.duty_counter = convert((block.timestamp - START_TIME) / WEEK, uint64)  # assuming time frames are divided weekly

    hook_mask: uint256 = 0
    for solicitation in _hook_inputs:
        hook_mask |= 1 << solicitation.hook_id
    duties_checklist: uint256 = self.duties_checklist
    assert hook_mask & duties_checklist == duties_checklist, "Not all duties"

    log DutyAct()

    return self._act(_hook_inputs, _receiver)

@internal
def _act(_hook_inputs: DynArray[HookInput, MAX_HOOKS_LEN], _receiver: address) -> uint256:
    current_duty_counter: uint64 = self.duty_counter

    compensation: uint256 = 0
    prev_idx: uint8 = 0
    for solicitation in _hook_inputs:
        hook: Hook = self.hooks[solicitation.hook_id]
        self._shot(hook, solicitation)

        if hook.compensation_strategy.cooldown.duty_counter < current_duty_counter:
            hook.compensation_strategy.cooldown.used = 0
            hook.compensation_strategy.cooldown.duty_counter = current_duty_counter
        hook_compensation: uint256 = self._compensate(hook)

        if hook_compensation > 0:
            compensation += hook_compensation
            hook.compensation_strategy.cooldown.used += 1
            self.hooks[solicitation.hook_id].compensation_strategy.cooldown = hook.compensation_strategy.cooldown

        if prev_idx > solicitation.hook_id:
            raise "Hooks not sorted"
        prev_idx = solicitation.hook_id
        log HookShot(prev_idx, hook_compensation)

    log Act(_receiver, compensation)

    # happy ending
    if compensation > 0:
        coin: ERC20 = fee_collector.target()
        coin.transferFrom(fee_collector.address, _receiver, compensation)
    return compensation
>>> soon

burn

FeeCollector.burn(_coin: address)

Guarded Method

This function is only callable by the owner of the contract.

Function to transfer coins from the contract with approval. This function is needed for back compatability along with dealing with raw ETH.

Input Type Description
_coin address Token address of the new target coin.
Source code
@external
@payable
def burn(_coin: address) -> bool:
    """
    @notice Transfer coin from contract with approval
    @dev Needed for back compatability along with dealing raw ETH
    @param _coin Coin to transfer
    @return True if did not fail, back compatability
    """
    if _coin == ETH_ADDRESS:  # Deposit
        WETH.deposit(value=self.balance)
    else:
        amount: uint256 = ERC20(_coin).balanceOf(msg.sender)
        ERC20(_coin).transferFrom(msg.sender, self, amount)
    return True
>>> soon

recover

FeeCollector.recover(_recovers: DynArray[RecoverInput, MAX_LEN], _receiver: address):

Guarded Method

This function is only callable by the owner or emergency_owner of the contract.

Function to recover ERC20 tokens or ETH from the contract by transferring them to _receiver.

Input Type Description
_recovers DynArray[RecoverInput, MAX_LEN] Dynamic array of RecoverInput structs.
_receiver address Receiver of the recovered coins.

Each RecoverInput struct contains:

  • coin: address - The address of the ERC20 token to recover.
  • amount: uint256 - The amount of the token to recover. Use 2^256-1 to recover the entire balance.
Source code
struct RecoverInput:
    coin: ERC20
    amount: uint256

@external
def recover(_recovers: DynArray[RecoverInput, MAX_LEN], _receiver: address):
    """
    @notice Recover ERC20 tokens or Ether from this contract
    @dev Callable only by owner and emergency owner
    @param _recovers (Token, amount) to recover
    @param _receiver Receiver of coins
    """
    assert msg.sender in [self.owner, self.emergency_owner], "Only owner"

    for input in _recovers:
        amount: uint256 = input.amount
        if input.coin.address == ETH_ADDRESS:
            if amount == max_value(uint256):
                amount = self.balance
            raw_call(_receiver, b"", value=amount)
        else:
            if amount == max_value(uint256):
                amount = input.coin.balanceOf(self)
            input.coin.transfer(_receiver, amount)  # do not need safe transfer
>>> soon

Burner and Hooker Contracts

Burner contracts are used to convert collected coins into the target coins. Hooker contracts facilitate the execution of predefined actions (hooks) through the Hooker contract.

When setting up a burner or hooker, they need to support a specific interface structure to comply with the functions used in the FeeCollector contract. Each burner and hooker contract must implement a supportsInterface(_interface_id: bytes4) method, which identifies the interface according to ERC-165. This method ensures the contract is compatible with the FeeCollector.

burner

FeeCollector.burner() -> address: view

Getter for the burner contract. The burner can be set and changed via set_burner.

Returns: burner contract (address).

Source code
interface Burner:
    def burn(_coins: DynArray[ERC20, MAX_LEN], _receiver: address): nonpayable
    def push_target() -> uint256: nonpayable
    def supportsInterface(_interface_id: bytes4) -> bool: view

burner: public(Burner)

@external
def set_burner(_new_burner: Burner):
    """
    @notice Set burner for exchanging coins
    @dev Callable only by owner
    """
    assert msg.sender == self.owner, "Only owner"
    assert _new_burner.supportsInterface(BURNER_INTERFACE_ID)
    self.burner = _new_burner
>>> FeeCollector.burner()
'0xC0fC3dDfec95ca45A0D2393F518D3EA1ccF44f8b'

hooker

FeeCollector.hooker() -> address: view

Getter for the hooker contract. The hooker can be set and changed via set_hooker.

Returns: hooker contract (address).

Source code
interface Hooker:
    def duty_act(_hook_inputs: DynArray[HookInput, MAX_HOOK_LEN], _receiver: address=msg.sender) -> uint256: payable
    def buffer_amount() -> uint256: view
    def supportsInterface(_interface_id: bytes4) -> bool: view

HOOKER_INTERFACE_ID: constant(bytes4) = 0xe569b44d

hooker: public(Hooker)
>>> FeeCollector.hooker()
'0x9A9DF35cd8E88565694CA6AD5093c236C7f6f69D'

set_burner

FeeCollector.set_burner(_new_burner: Burner)

Guarded Method

This function is only callable by the owner of the contract.

Function to set a new burner contract. When setting, the contract checks if the new burner supports a certain BURNER_INTERFACE_ID.

Emits: SetBurner

Input Type Description
_new_burner address Contract address of the new burner.
Source code
interface Burner:
    def burn(_coins: DynArray[ERC20, MAX_LEN], _receiver: address): nonpayable
    def push_target() -> uint256: nonpayable
    def supportsInterface(_interface_id: bytes4) -> bool: view

event SetBurner:
    burner: indexed(Burner)

BURNER_INTERFACE_ID: constant(bytes4) = 0xa3b5e311

burner: public(Burner)

@external
def set_burner(_new_burner: Burner):
    """
    @notice Set burner for exchanging coins, must implement BURNER_INTERFACE
    @dev Callable only by owner
    @param _new_burner Address of the new contract
    """
    assert msg.sender == self.owner, "Only owner"
    assert _new_burner.supportsInterface(BURNER_INTERFACE_ID)
    self.burner = _new_burner

    log SetBurner(_new_burner)
>>> soon

set_hooker

FeeCollector.set_hooker(_new_hooker: Hooker)

Guarded Method

This function is only callable by the owner of the contract.

Function to set a new hooker contract. When setting, the contract checks if the new hooker supports a certain HOOKER_INTERFACE_ID: constant(bytes4) = 0xe569b44d.

Emits: SetHooker

Input Type Description
_new_hooker address Address of hooker contract to set.
Source code
interface Hooker:
    def duty_act(_hook_inputs: DynArray[HookInput, MAX_HOOK_LEN], _receiver: address=msg.sender) -> uint256: payable
    def buffer_amount() -> uint256: view
    def supportsInterface(_interface_id: bytes4) -> bool: view

event SetHooker:
    hooker: indexed(Hooker)

HOOKER_INTERFACE_ID: constant(bytes4) = 0xe569b44d

hooker: public(Hooker)

@external
def set_hooker(_new_hooker: Hooker):
    """
    @notice Set contract for hooks, must implement HOOKER_INTERFACE
    @dev Callable only by owner
    @param _new_hooker Address of the new contract
    """
    assert msg.sender == self.owner, "Only owner"
    assert _new_hooker.supportsInterface(HOOKER_INTERFACE_ID)

    if self.hooker != empty(Hooker):
        self.target.approve(self.hooker.address, 0)
    self.hooker = _new_hooker

    log SetHooker(_new_hooker)
>>> soon

Ownership and Killing Coins

The FeeCollector contract features a dual ownership structure, consisting of a regular owner and an emergency_owner.

The contract includes a mechanism to "kill" certain coins across specific epochs. When a coin is killed, certain functions related to that coin will no longer be callable. This capability is crucial for managing and mitigating risks associated with specific tokens.

The owner1 is able to call the following functions:

  • recover: Recover ERC20 tokens or ETH from the contract.
  • set_max_fee: Set the maximum fee for a specified epoch.
  • set_burner: Set the burner contract for exchanging coins.
  • set_hooker: Set the hooker contract.
  • set_target: Set a new target coin for fee accumulation.
  • set_killed: Mark certain coins as killed to prevent them from being burned, or mark entire epochs to prevent all coins from being burned in a specific epoch.
  • set_owner: Assign a new owner to the contract.
  • set_emergency_owner: Assign a new emergency owner to the contract.

The emergency_owner2 has limited power, intended for emergency situations. They can call:

  • recover: Recover ERC20 tokens or ETH from the contract.
  • set_killed: Mark certain coins as killed to prevent them from being burnt.

is_killed

FeeCollector.is_killed(arg0: address) -> uint256: view

Function to check if a coin is killed for a certain epoch. Depending on the epoch the coin is killed for, the contract restricts function calls. For example, if a coin is killed for the COLLECT epoch, the collect function cannot be called for that coin.

Returns: sum of the epoch indices in the enum (uint256).

Input Type Description
arg0 address Address of the coin to check.
Source code
struct KilledInput:
    coin: ERC20
    killed: Epoch  # True where killed

If a coin is not killed, the method will return 0. The method returns the sum of the indices within the Epoch enum. Therefore, after we have killed wETH for the epochs COLLECT and EXCHANGE, the call now returns 6 (indices of COLLECT and EXCHANGE are 2 and 4, which sum up to six).

>>> FeeCollector.is_killed("0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2")
0

>>> FeeCollector.set_killed([("0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2", 2 | 4)])
# kills wETH for epochs COLLECT and EXCHANGE

>>> FeeCollector.is_killed("0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2")
6

set_killed

FeeCollector.set_killed(_input: DynArray[KilledInput, MAX_LEN])

Guarded Method

This function is only callable by the owner or emergency_owner of the contract.

Function to kill a coin for a specific epoch.

Emits: SetKilled

Input Type Description
_input DynArray[KilledInput, MAX_LEN] Array of KilledInput structs.

Each KilledInput struct contains:

  • coin: ERC20 - The address of the ERC20 token to be killed.
  • killed: Epoch - The sum of the epoch indices during which the coin is killed.
Source code
event SetKilled:
    coin: indexed(ERC20)
    epoch_mask: Epoch

struct KilledInput:
    coin: ERC20
    killed: Epoch  # True where killed

is_killed: public(HashMap[ERC20, Epoch])

@external
def set_killed(_input: DynArray[KilledInput, MAX_LEN]):
    """
    @notice Stop a contract or specific coin to be burnt
    @dev Callable only by owner or emergency owner
    @param _input Array of (coin address, killed phases enum)
    """
    assert msg.sender in [self.owner, self.emergency_owner], "Only owner"

    for input in _input:
        self.is_killed[input.coin] = input.killed
        log SetKilled(input.coin, input.killed)
>>> FeeCollector.set_killed([("0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2", 1)])
# kills wETH for epoch SLEEP

>>> FeeCollector.set_killed([("0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2", 2 | 4)])
# kills wETH for epochs COLLECT and EXCHANGE

owner

FeeCollector.owner() -> address: view

Getter for the current owner of the contract.

Returns: owner (address).

Emits: SetOwner at contract initialization

Source code
event SetOwner:
    owner: indexed(address)

owner: public(address)

@external
def __init__(_target_coin: ERC20, _weth: wETH, _owner: address, _emergency_owner: address):
    """
    @notice Contract constructor
    @param _target_coin Coin to swap to
    @param _weth Wrapped ETH(native coin) address
    @param _owner Owner address
    @param _emergency_owner Emergency owner address. Can kill the contract
    """
    ...
    self.owner = _owner
    ...
    log SetOwner(_owner)
    ...
>>> FeeCollector.owner()
'0x40907540d8a6C65c637785e8f8B742ae6b0b9968'

emergency_owner

FeeCollector.emergency_owner() -> address: view

Getter for the current emergency owner of the contract.

Returns: emergency owner (address).

Emits: SetEmergencyOwner at contract initialization

Source code
event SetEmergencyOwner:
    emergency_owner: indexed(address)

emergency_owner: public(address)

@external
def __init__(_target_coin: ERC20, _weth: wETH, _owner: address, _emergency_owner: address):
    """
    @notice Contract constructor
    @param _target_coin Coin to swap to
    @param _weth Wrapped ETH(native coin) address
    @param _owner Owner address
    @param _emergency_owner Emergency owner address. Can kill the contract
    """
    ...
    self.emergency_owner = _emergency_owner
    ...
    log SetEmergencyOwner(_emergency_owner)
    ...
>>> FeeCollector.emergency_owner()
'0x467947EE34aF926cF1DCac093870f613C96B1E0c'

set_owner

FeeCollector.set_owner(_new_owner: address)

Guarded Method

This function is only callable by the owner of the contract.

Function to set a new owner.

Emits: SetOwner

Input Type Description
_new_owner address Address of the new owner.
Source code
event SetOwner:
    owner: indexed(address)

owner: public(address)

@external
def set_owner(_new_owner: address):
    """
    @notice Set owner of the contract
    @dev Callable only by current owner
    @param _new_owner Address of the new owner
    """
    assert msg.sender == self.owner, "Only owner"
    assert _new_owner != empty(address)
    self.owner = _new_owner
    log SetOwner(_new_owner)
>>> soon

set_emergency_owner

FeeCollector.set_emergency_owner(_new_owner: address)

Guarded Method

This function is only callable by the owner of the contract.

Function to a new emergency owner.

Emits: SetEmergencyOwner

Input Type Description
_new_owner address Address of the new emergency owner.
Source code
event SetEmergencyOwner:
    emergency_owner: indexed(address)

emergency_owner: public(address)

@external
def set_emergency_owner(_new_owner: address):
    """
    @notice Set emergency owner of the contract
    @dev Callable only by current owner
    @param _new_owner Address of the new emergency owner
    """
    assert msg.sender == self.owner, "Only owner"
    assert _new_owner != empty(address)
    self.emergency_owner = _new_owner
    log SetEmergencyOwner(_new_owner)
>>> soon

  1. The owner of the contract is the Curve DAO. To make any changes, a successful on-chain vote needs to pass. 

  2. The emergency_owner is a 5 of 9 multisig