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Cube tokens

Decentralized leveraged tokens.

Cube tokens such as cubeBTC approximately track P ^ 3, while inverse cube tokens such as invBTC approximately track 1 / P ^ 3, where P is the price of BTC.

Users can deposit ETH into a pool to mint cube tokens and later burn them to withdraw their ETH. If BTC goes up by 1%, cubeBTC's share of the pool will go up by around 3% and invBTC's pool share will go down by 3%. The pool shares are then normalized to sum to 100%.

Governance and guardian privileges

There are two privileged accounts for each pool: governance and a guardian.

The governance account can:

  • Change max pool share of each cube token

  • Change TVL cap

  • Collect fees that have accrued

  • Change trading fee

Both governance and the guardian can:

  • Emergency withdraw all ETH from the contract to the owner. This power can later be revoked if the owner calls finalize(). This is intended to be used in the case of a bug to rescue funds.

  • Pause and unpause deposits, withdrawals and price updates for any cube token. This is intended to be used in the case of a bug or oracle failure.

Repo

CubePool.sol is a pool containing deposited ETH. Users can deposit ETH to mint cube tokens and later burn them to withdraw their ETH.

CubeToken.sol is an ERC20 token representing a cube token. It's deployed from the CubePool when a new cube token is added.

ChainlinkFeedsRegistry.sol is a contract containing a mapping from tokens to their Chainlink price feed.

Usage

Run below as a workaround for this bug in brownie

brownie pm clone OpenZeppelin/openzeppelin-contracts-upgradeable@3.4.0

Run solidity linter

npm run lint:fix

Run python formatter for unit tests

black .

Run unit tests

brownie test

Run keeper script. You need to set up a brownie account and set environment variables KEEPER_ACCOUNT, KEEPER_PW and WEB3_INFURA_PROJECT_ID

brownie run keep

Deploy

brownie run deploy

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