Base Andromeda
Reference for Core V3 + Perps V3 on Base
Evolving configuration
See Deployment Info
Introduction
Andromeda is the combination of
Core V3
Perps V3
USDC as collateral
The Spot Market is included, but only to be used as a mechanism to exchange the assets brought by traders and LPs (USDC) for the internal accounting tokens (sUSDC and sUSD).
Configuration
Unique to Andromeda Base is the use of a USDC wrapper, enabling USDC to appear to be used as collateral for LPs, and as margin as perp traders.
Underneath, USDC is wrapped and or traded into sUSDC for LP collateral (and collecting fees), and sUSD as perp margin
The full configuration of Base Goerli can be seen on Cannon
See #andromeda-on-base-goerli for Addresses and ABIs
Configuration explained:
this is the part that deploys sUSDC (a USDC synth) and creates the spot market
USDC <--> sUSDC can be wrapped/unwrapped on the spot market
sUSD <--> sUSDC can be bought/sold on the spot market
No fee on these, all atomic so can be composed with multicalls
Coming: Andromeda Base Sandbox - in the meantime see the more general Sandbox with Perps can be used once USDC is wrapped and swapped to sUSD
The Andromeda Release is configured to use oracle contracts which comply with ERC-7412. Use the client library when building off-chain integrations like UIs and bots.
For LPs
LPs can arrive with USDC to provide liquidity (LP). The contracts or integrators need to:
Wrap USDC to sUSDC on the Spot Market
Function:
SpotMarketProxy.wrap(marketId, wrapAmount, amountReceived)
Example:
wrap(1, 1000000000000000000, 1000000000000000000)
Deposit sUSDC to Pool
Delegate sUSDC to Market
When withdrawing, initial collateral plus any fees can be withdrawn, then unwrapped from sUSDC to USDC.
For Perp Traders/Integrators
Traders can take the following actions:
Create an account
Manage margin balances
Commit orders
Keepers can take the following actions:
Settle orders committed by traders
Liquidate accounts
Additionally, integrators can create a seamless trading experience using USDC by utilizing the wrapper and spot market. Since USDC-sUSDC
and sUSDC-sUSD
exchanges are both 1:1 swaps, integrators can easily prepare a multicall to "zap" between USDC in their wallet and their account margin.
Create an Account
To deposit margin , you must specify an accountId.
Call
PerpsMarketProxy.createAccount()
to create an account with a randomaccountId
You can also specify an
accountId
, which will revert if the account already exists
See creating accounts for more technical docs.
Managing Margin Balances
Each perps account holds assets to use as margin for their positions. Currently Andromeda supports USDC collateral through the use of a token wrapper. Fetch margin balances using these functions on the PerpsMarketProxy
contract:
totalCollateralValue(accountId)
: Get the USD value of all collateral in the accountgetAvailableMargin(accountId)
: Get the USD value of the margin available to use as collateral for future positionsgetWithdrawableMargin(accountId)
: Get the USD value of the margin you can withdraw immediatelygetRequiredMargins(accountId)
: Get USD values of the margin requirements for the specified account, given their open positions
Preparing Margin Transactions
Integrators can directly deposit and withdraw USDC by preparing a multicall to execute in a single transaction. These transactions interact with the SpotMarketProxy
to wrap and swap USDC for sUSD. Use marketId = 1
for sUSDC
. Matching values like wrapAmount
and amountReceived
in the transactions will guarantee this 1:1 swap.
All transactions should be prepared as a multicall and sent to the TrustedMulticallForwarder
contracts using aggregate3Value
.
Prerequisites
An account must meet the following requirements to execute USDC transfers between their wallet and a perps account.
Deposit:
Holds an account NFT for perps. See creating an account.
Approve
SpotMarketProxy
to transfer USDCApprove
SpotMarketProxy
to transfer sUSDCApprove
PerpsMarketProxy
to transfer sUSD
Withdraw:
Account NFT has some withdrawable margin
Approve
SpotMarketProxy
to transfer sUSDApprove
SpotMarketProxy
to transfer sUSDC
Deposit perp margin
USDC -> sUSDC
- Wrap USDC on the spot marketFunction:
SpotMarketProxy.wrap(marketId, wrapAmount, amountReceived)
Example:
wrap(1, 1000000000000000000, 1000000000000000000)
sUSDC -> sUSD
- Sell sUSDC for sUSD on the spot marketFunction:
SpotMarketProxy.sell(marketId, synthAmount, minUsdAmount, referrer)
Example:
sell(1, 1000000000000000000, 1000000000000000000, 0x0000000000000000000000000000000000000000)
Deposit sUSD
Function:
PerpsMarketProxy.modifyCollateral(accountId, synthMarketId, amountDelta)
Example:
modifyCollateral(12345, 0, 1000000000000000000)
Withdraw perp margin
Withdraw sUSD
Function:
PerpsMarketProxy.modifyCollateral(accountId, synthMarketId, amountDelta)
Example:
modifyCollateral(12345, 0, -1000000000000000000)
sUSD -> sUSDC
- Buy sUSDC on the spot marketFunction:
SpotMarketProxy.buy(marketId, usdAmount, minAmountReceived, referrer)
Example:
buy(1, 1000000000000000000, 1000000000000000000, 0x0000000000000000000000000000000000000000)
sUSDC -> USDC
- Unwrap sUSDC on the spot marketFunction:
SpotMarketProxy.unwrap(marketId, unwrapAmount, minAmountReceived)
Example:
unwrap(1, 1000000000000000000, 1000000000000000000)
Sample Margin Transactions
Trading
Given an account with some available margin, a trader can commit orders to a perps market. That order will be settled by a keeper according to the specified settlementStrategyId
. The Andromeda deployment uses Pyth oracles to settle your order at a future price after a short delay.
See more technical details about preparing orders on this page.
Committing Orders
Call PerpsMarketProxy.commitOrder(commitment) to commit an order. The input commitment is a tuple configuring the order. Here are some recommendations for those inputs:
marketId
: CallgetMarkets()
andmetadata
to get more info about the marketsaccountId
: TheaccountId
that has available marginsizeDelta
: A wei value of the size in units of the asset being tradedsettlementStrategyId
: Recommended0
for Pyth settlement. CallgetSettlementStrategy
for more detailsacceptablePrice
: Minimum fill price for longs, maximum fill price for shortstrackingCode
: A bytes32 encoded value for tracking integrator volumereferrer
: An address for configured integrators to receive a share of fees.
See a sample order commitment transaction here.
Order Settlement
Orders will typically be settled by a keeper who fetches the price data from Pyth and fills orders for a fee. You can check getOrder(accountId)
for a given account to view the status of the order. The sizeDelta
will be set to 0 when the order is filled, otherwise it will expire and can be replaced with another order.
See a sample order settlement transaction here.
Useful links
Perp order settlement and liquidation keepers are running on Goerli, and you can run your own Perps V3 Keepers
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