552 lines
18 KiB
Markdown
552 lines
18 KiB
Markdown
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ytLp池子合约流程文档
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1. 项目概述
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1.1 设计目标
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基于GMX GLP原理，设计一个支持多种YT（Yield Token）代币的流动性池系统。
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1.2 架构对比
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Plain Text
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GMX GLP池子： YT流动性池：
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├─ ETH ├─ YT-A
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├─ WBTC ├─ YT-B
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├─ USDC ├─ YT-C
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├─ USDT ├─ YT-D
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└─ DAI └─ WUSD
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↓ ↓
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以USDG统一计价 以USDY统一计价
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核心特点：
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Markdown
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- 一篮子YT代币: YT-A, YT-B, YT-C等（不同的收益代币）
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- WUSD代币支持: 支持WUSD稳定币（地址: `0x7Cd017ca5ddb86861FA983a34b5F495C6F898c41`）
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- 统一底层: 所有YT都基于USDC
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- LP代币（ytLP）: 代表用户在池子中的份额
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- Swap功能: YT-A ↔ YT-B ↔ YT-C ↔ WUSD
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- 计价单位: USDY（完全模拟GMX的USDG）
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- 动态手续费: 根据池子占比自动调整手续费
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- 自动复利: 手续费直接留在池子中，ytLP价值自动增长
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2. 系统流程图
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Plain Text
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┌─────────────────────────────────────────┐
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│ 用户交互层 │
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│ YTRewardRouter.sol │
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│ (addLiquidity / removeLiquidity) │
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└──────────────┬──────────────────────────┘
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│
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┌───────────┴─────────────┐
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▼ ▼
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┌───────────────┐ ┌──────────────────┐
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│ YTPoolManager │◄── │ YTVault │
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│ (流动性管理) │ │ (资金池+动态费率) │
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└───────┬───────┘ └──────┬───────────┘
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│ │
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│ ├──► YT-A (40%)
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│ ├──► YT-B (30%)
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│ ├──► YT-C (20%)
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│ └──► WUSD (10%)
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▼
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┌───────────────┐
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│ ytLP Token │
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│ (ERC20) │
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│ 持有即增值 │
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└───────────────┘
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辅助合约:
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├─ USDY.sol (统一计价代币)
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└─ YTPriceFeed.sol (价格读取器)
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流程图查看网站：https://www.processon.com/mermaid
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2.1 系统总览架构图
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Plain Text
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graph TB
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subgraph "用户交互层"
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User[用户]
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Router[YTRewardRouter<br/>一站式入口]
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end
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subgraph "核心业务层"
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PoolManager[YTPoolManager<br/>流动性管理]
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Vault[YTVault<br/>资金池 + 动态手续费]
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USDY[USDY Token<br/>统一计价单位]
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end
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subgraph "资产层"
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YTA[YT-A Token<br/>40% 目标占比]
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YTB[YT-B Token<br/>30% 目标占比]
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YTC[YT-C Token<br/>20% 目标占比]
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WUSD[WUSD Token<br/>10% 目标占比<br/>0x7Cd017...c41]
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end
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subgraph "LP代币层"
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YTLP[ytLP Token<br/>流动性凭证]
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end
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subgraph "奖励层"
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FeeTracker[FeeYtLPTracker<br/>手续费奖励追踪]
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end
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User -->|存入/取出/交换| Router
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Router -->|管理流动性| PoolManager
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Router -->|质押ytLP| FeeTracker
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PoolManager -->|buyUSDY/sellUSDY| Vault
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PoolManager <-->|铸造/销毁| YTLP
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PoolManager <-->|转移USDY| USDY
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Vault -->|持有| YTA
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Vault -->|持有| YTB
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Vault -->|持有| YTC
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Vault -->|持有| WUSD
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Vault <-->|铸造/销毁| USDY
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FeeTracker -->|分发奖励| USDY
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style WUSD fill:#90EE90
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style USDY fill:#FFD700
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style Vault fill:#87CEEB
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2.2 用户存入流程图
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Plain Text
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flowchart LR
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subgraph "输入"
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A[用户YT代币<br/>10,000 YT-A]
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end
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subgraph "Router处理"
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B[收集用户代币]
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end
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subgraph "PoolManager处理"
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C[调用Vault.buyUSDY]
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D[计算ytLP数量<br/>ytLP = USDY * supply / AUM]
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E[铸造ytLP]
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end
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subgraph "Vault处理"
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F[接收YT代币<br/>poolAmounts增加]
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G[计算手续费<br/>0.3% = 30 YT-A]
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H[更新USDY债务<br/>usdyAmounts增加]
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I[铸造USDY<br/>9,970 USDY]
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end
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subgraph "输出"
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J[用户获得ytLP<br/>价值9,970 USDY]
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end
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A --> B
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B --> C
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C --> F
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F --> G
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G --> H
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H --> I
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I --> D
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D --> E
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E --> J
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style A fill:#90EE90
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style J fill:#FFD700
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style G fill:#FFA07A
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2.3 用户取出流程图
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Plain Text
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flowchart LR
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subgraph "输入"
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A[用户ytLP<br/>5,000 ytLP]
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end
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subgraph "PoolManager处理"
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B[销毁ytLP]
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C[计算USDY价值<br/>USDY = ytLP * AUM / supply]
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D[转USDY给Vault<br/>5,000 USDY]
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end
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subgraph "Vault处理"
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E[收到USDY并销毁]
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F[计算YT数量<br/>根据价格]
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G[计算手续费<br/>动态费率]
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H[减少poolAmounts<br/>减少usdyAmounts]
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I[转YT代币]
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end
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subgraph "输出"
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J[用户收到YT<br/>4,985 YT-A]
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end
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A --> B
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B --> C
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C --> D
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D --> E
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E --> F
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F --> G
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G --> H
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H --> I
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I --> J
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style A fill:#FFD700
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style J fill:#90EE90
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style G fill:#FFA07A
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2.4 YT代币互换流程图
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Plain Text
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flowchart LR
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subgraph "输入"
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A[用户YT-A<br/>1,000 YT-A]
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end
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subgraph "Vault处理"
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B[收到YT-A<br/>poolAmounts增加]
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C[查询价格<br/>priceA, priceB]
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D[计算USDY中间值<br/>1,000 * priceA]
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E[计算YT-B数量<br/>USDY / priceB]
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F[计算动态手续费<br/>检查两端占比]
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G[更新状态<br/>YT-A增, YT-B减<br/>USDY债务转移]
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H[转出YT-B]
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end
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subgraph "输出"
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I[用户收到YT-B<br/>997 YT-B]
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end
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A --> B
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B --> C
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C --> D
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D --> E
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E --> F
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F --> G
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G --> H
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H --> I
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style A fill:#90EE90
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style I fill:#87CEEB
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style F fill:#FFA07A
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2.5 USDY铸造销毁流程图
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Plain Text
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graph TB
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subgraph "USDY生命周期"
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Create[创建: 用户存入YT]
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Mint[Vault铸造USDY]
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Hold[PoolManager持有USDY]
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Transfer[PoolManager转USDY给Vault]
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Burn[Vault销毁USDY]
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Destroy[结束: 用户取回YT]
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end
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subgraph "关键状态"
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Supply[USDY总供应量]
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PoolBalance[PoolManager余额]
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Debt[各代币USDY债务]
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end
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Create --> Mint
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Mint --> Supply
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Mint --> Hold
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Hold --> PoolBalance
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Hold --> Transfer
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Transfer --> Burn
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Burn --> Supply
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Burn --> Destroy
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Mint -.更新.-> Debt
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Burn -.更新.-> Debt
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style Mint fill:#90EE90
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style Burn fill:#FFB6C1
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style Supply fill:#FFD700
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2.6 动态手续费架构图
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Plain Text
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graph TB
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subgraph "输入层"
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User[用户操作<br/>存入/取出/Swap]
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Token[操作的代币<br/>YT-A/YT-B/YT-C/WUSD]
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Amount[操作数量]
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end
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subgraph "状态查询层"
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Current[当前USDY债务<br/>usdyAmounts]
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Target[目标USDY债务<br/>getTargetUsdyAmount]
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Weight[代币权重<br/>tokenWeights]
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Supply[USDY总供应<br/>totalSupply]
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end
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subgraph "计算层"
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Calc1[计算操作后债务<br/>nextAmount]
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Calc2[计算偏离度<br/>initialDiff vs nextDiff]
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Calc3[判断改善/恶化]
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end
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subgraph "手续费决策层"
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Decision{改善平衡?}
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Rebate[降低手续费<br/>baseFee - rebate]
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Penalty[提高手续费<br/>baseFee + tax]
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end
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subgraph "输出层"
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Final[最终手续费<br/>0% - 0.8%]
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Effect[效果反馈<br/>引导池子平衡]
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end
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User --> Token
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Token --> Amount
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Amount --> Current
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Current --> Calc1
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Target --> Calc1
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Weight --> Target
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Supply --> Target
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Calc1 --> Calc2
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Calc2 --> Calc3
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Calc3 --> Decision
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Decision -->|是| Rebate
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Decision -->|否| Penalty
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Rebate --> Final
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Penalty --> Final
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Final --> Effect
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style Decision fill:#FFD700
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style Rebate fill:#90EE90
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style Penalty fill:#FFA07A
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style Final fill:#87CEEB
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2.7 各YT代币价格获取图
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Plain Text
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graph TB
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subgraph "价格查询层"
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Query[Vault查询价格<br/>getPrice]
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end
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subgraph "YTPriceFeed"
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Feed[价格读取器]
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Check{是WUSD?}
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end
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subgraph "WUSD处理"
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Fixed[返回固定价格<br/>1.0 USDY]
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end
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subgraph "YT代币处理"
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YTContract[YT代币合约]
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ReadVar[ 直接读取public变量<br/>assetPrice]
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AddSpread[添加价差<br/>0.2%]
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end
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subgraph "返回"
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Price[返回USDY价格<br/>30位小数]
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end
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Query --> Feed
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Feed --> Check
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Check -->|是| Fixed
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Check -->|否| YTContract
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YTContract --> ReadVar
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Note1[：只读一个变量<br/>Gas成本极低]
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ReadVar -.说明.-> Note1
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ReadVar --> AddSpread
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AddSpread --> Price
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Fixed --> Price
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style Check fill:#FFD700
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style Fixed fill:#90EE90
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style ReadVar fill:#87CEEB
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style Note1 fill:#FFE4B5
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3. 收益机制设计
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3.1 自动复利机制
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Plain Text
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ytLP自动增值模型
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┌──────────────────────┐
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│ 用户持有 ytLP │
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│ (无需质押，无需领取) │
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└────────┬─────────────┘
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│
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▼
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┌──────────────────────┐
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│ 池子收取手续费 │
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│ ├─ Swap手续费 │
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│ ├─ 存取手续费 │
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│ └─ 全部留在池子中 │
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└────────┬─────────────┘
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│
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▼
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┌──────────────────────┐
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│ 池子总价值(AUM)自动增长 │
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│ AUM = Σ(poolAmounts * prices) │
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│ 手续费 → poolAmounts ↑ │
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└────────┬─────────────┘
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│
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▼
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┌──────────────────────┐
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│ ytLP价格自动上涨 │
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│ ytLP价格 = AUM / ytLP总量 │
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│ 持有者自动获得收益 │
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└──────────────────────┘
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3.2 收益来源
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Plain Text
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| 收益来源 | 实现方式 | 说明 |
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|---------|---------|------|
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| **YT Swap手续费** | 留在池子 | 手续费不转出，直接增加poolAmounts |
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| **存入手续费** | 留在池子 | 用户存入时收取的手续费留在池子 |
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| **取出手续费** | 留在池子 | 用户取出时收取的手续费留在池子 |
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| **YT 增值** | 自动 | YT代币本身增值，体现在价格 |
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优势:
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• ✅ 100%手续费归LP
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• ✅ 自动复利，无需操作
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• ✅ Gas高效，零额外成本
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3.3 自动复利效果演示
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Plain Text
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场景：Alice持有1000 ytLP
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T0: 初始状态
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├─ 池子AUM: 100M USDY
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├─ ytLP总量: 100M
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├─ ytLP价格: 1.0 USDY
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├─ Alice持有: 1000 ytLP
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└─ Alice价值: 1000 USDY
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T1: 1天后（产生手续费）
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├─ 每日交易量: 5M USDY
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├─ 平均手续费: 0.3%
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├─ 日手续费: 15,000 USDY
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├─ 手续费留在池子 ✅
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│
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├─ 池子AUM: 100,015,000 USDY
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├─ ytLP总量: 100M (不变)
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├─ ytLP价格: 1.00015 USDY ⬆️
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├─ Alice持有: 1000 ytLP (不变)
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└─ Alice价值: 1000.15 USDY ✅ (+0.015%)
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T30: 30天后（复利累积）
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├─ 累积手续费: ~450,000 USDY
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├─ 池子AUM: 100,450,000 USDY
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├─ ytLP价格: 1.0045 USDY ⬆️
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├─ Alice持有: 1000 ytLP
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└─ Alice价值: 1004.5 USDY ✅ (+0.45%)
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T365: 1年后（年化收益）
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├─ 累积手续费: ~5.475M USDY
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├─ 加上YT增值: ~8M USDY
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├─ 池子AUM: 113.475M USDY
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├─ ytLP价格: 1.13475 USDY ⬆️
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├─ Alice持有: 1000 ytLP
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└─ Alice价值: 1134.75 USDY ✅ (+13.475%)
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Alice全程无需任何操作！
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只需持有ytLP，价值自动增长
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4. 动态手续费
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4.1 动态手续费机制
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场景1：YT-A占比过高
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公式：
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avg_dev = (|D_after| + |D_before|)/2
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adjustment = K * avg_dev / target
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Plain Text
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当前状态：
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YT-A: usdyAmounts = 50M, 目标 = 40M (+10M, 占比过高)
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YT-B: usdyAmounts = 30M, 目标 = 30M (正好)
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YT-C: usdyAmounts = 15M, 目标 = 20M (-5M, 占比过低)
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WUSD: usdyAmounts = 5M, 目标 = 10M (-5M, 占比过低)
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用户A想存入1M USDY价值的YT-A：
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┌─────────────────────────────────────┐
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│ 初始偏离: +10M │
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│ 操作后偏离: +11M (恶化平衡) │
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│ 基础手续费: 0.3% (30 bps) │
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│ 税费计算: 50 * 10.5M / 40M ≈ 13 bps │
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│ 最终手续费: 30 + 13 = 43 bps (0.43%) │
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└─────────────────────────────────────┘
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结果：手续费提高 43% → 😱 惩罚
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用户B想存入1M USDY价值的YT-C：
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┌─────────────────────────────────────┐
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│ 初始偏离: -5M │
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│ 操作后偏离: -4M (改善平衡) │
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│ 基础手续费: 0.3% (30 bps) │
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│ 折扣计算: 50 * 5M / 20M = 12.5 bps │
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│ 最终手续费: 30 - 12.5 = 17.5 bps │
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└─────────────────────────────────────┘
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结果：手续费降低 42% → 🎉 激励
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用户C想从YT-A换到YT-C：
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┌─────────────────────────────────────┐
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│ YT-A减少 → 改善平衡 ✅ │
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│ YT-C增加 → 改善平衡 ✅ │
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│ 最终手续费: 可能接近0% 🎁 │
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└─────────────────────────────────────┘
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结果：双重鼓励！
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场景2：WUSD作为稳定资产
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Plain Text
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WUSD (0x7Cd017ca5ddb86861FA983a34b5F495C6F898c41)
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特点：
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✅ 稳定币，价格 ≈ $1
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✅ 可以直接存入池子
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✅ 目标占比: 50%
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✅ 作为池子的"稳定锚"
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动态手续费：
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当WUSD占比过低时 → 鼓励存入WUSD
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当WUSD占比过高时 → 鼓励取出WUSD
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用户存入WUSD场景：
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当前: WUSD占5M，目标10M
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存入5M WUSD:
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- 改善平衡 → 手续费可能只有0.05% 🎉
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4.2 手续费范围
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Plain Text
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YT代币互换:
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- 最低: 0% (大幅改善平衡)
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- 正常: 0.3% (平衡状态)
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- 最高: 0.8% (严重失衡)
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涉及WUSD的操作:
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- 最低: 0% (大幅改善平衡)
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- 正常: 0.04% (平衡状态)
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- 最高: 0.24% (严重失衡)
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4.3 USDY债务追踪机制
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Solidity
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// usdyAmounts: 追踪每个代币的USDY债务
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mapping(address => uint256) public usdyAmounts;
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// 存入YT-A时：
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buyUSDY(YT-A) {
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// 1. 收YT-A
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// 2. 增加池子中YT-A数量
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// 3. 增加usdyAmounts[YT-A] ← 关键！
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// 4. 铸造USDY给用户
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}
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// 取出YT-B时：
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sellUSDY(YT-B) {
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// 1. 收用户的USDY并销毁
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// 2. 减少usdyAmounts[YT-B] ← 关键！
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// 3. 减少池子中YT-B数量
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// 4. 转YT-B给用户
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}
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// Swap: YT-A → YT-C时：
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swap(YT-A, YT-C) {
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// 1. 收YT-A，增加usdyAmounts[YT-A]
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// 2. 转YT-C，减少usdyAmounts[YT-C]
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// 3. 根据两边的偏离度计算手续费
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}
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4.4 USDY主要作用
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✅ 统一计价：所有YT转换为USDY价值
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✅ 价值传递：PoolManager和Vault通过USDY交互
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✅ 动态手续费：usdyAmounts追踪债务，自动平衡
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✅ 按需铸造：资金高效利用，会计清晰
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4.4.1 举例说明
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Plain Text
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场景：你去商店用积分换商品
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├─ 你：有1000积分（ytLP）
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├─ 积分中心（PoolManager）：销毁你的积分
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├─ 商店（Vault）：有商品（YT代币）
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└─ 问题：商店凭什么给你商品？
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解决方案：
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1. 积分中心销毁你的积分 ✅
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2. 积分中心给商店"提货券"（USDY） ✅ ← 关键！
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3. 商店验证提货券 ✅
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4. 商店给你商品 ✅
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5. 商店销毁提货券 ✅
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如果没有第2步（转USDY）：
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├─ 商店不知道你有权拿商品
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├─ 商店无法验证价值
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└─ ❌ 系统无法运转
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