anvil-contracts v1.0.2

Anvil Protocol

Overview

Anvil is a decentralized finance (DeFi) protocol for the issuance of fully secured credit. The protocol's Ethereum-based smart contracts allow users to deposit collateral in a vault, issue collateral-backed letters of credit, and make vault-based tokens available to collateral pools. Anvil's mission is to provide flexible building blocks to bring efficient and transparent collateralized finance into an increasingly decentralized world.

Local Development

Dependencies

• NodeJS 20 (recommended via NVM)

Installing, building, and running tests

• nvm i (if using NVM)
• npm i
• npm run build
• npm test

Documentation

Protocol Documentation: https://docs.anvil.xyz/protocol-concepts

Performed Audits: https://docs.anvil.xyz/audits

Mainnet Contract Addresses

Contract Descriptions

Anvil.sol

Anvil’s ERC-20 governance token contract with extended functionality in order to allow for Governance participation by claimants with provable balances in Claim.sol. This allows claimants to delegate voting power of both vested and unvested tokens in the Claim contract in addition to balances held in their wallets.

AnvilGovernorDelegate.sol

Governance logic contract delegated to by AnvilGovernorDelegator.sol. This utilizes OpenZeppelin’s GovernorUpgradeable contract.

AnvilGovernorDelegator.sol

Upgradeable proxy contract utilizing OpenZeppelin’s ERC1967Proxy.sol that delegates Governance logic to the AnvilGovernorDelegate.sol implementation.

AnvilTimelock.sol

Implementation of OpenZeppelin’s TimeLockController.sol to allow for time delay before Governance updates. Currently, this deployed contract’s address owns CollateralVault.sol, LetterOfCredit.sol, PythPriceOracle.sol.

Claim.sol

Claim contract for the one-time initial issuance of Anvil tokens. Initialization sets a Merkle root for balance proofs as well as details regarding token vesting (delay to start, vesting period). While this contract can be directly called to claim vested tokens, initial proof of token balances held in this contract and all delegation actions must be done through Anvil.sol.

CollateralVault.sol

Vault to house collateral across the protocol, tracking available and reserved balances for each account including TimeBasedCollateralPool instances. This contract serves as the primary entrypoint into and exit point from the protocol. The vault is compatible with ERC-20 tokens that have been approved via Governance. It also maintains a record of which other contracts have been approved to interact with it, both by the protocol and the individual accounts.

LetterOfCredit.sol

Contract for the creation, management, and redemption of collateralized Letters of Credit(“LOCs”) between two parties: a creator and a beneficiary. LOCs consist of a reserved collateral amount from the creator (housed in CollateralVault.sol) and a credited amount (in either the same collateral token or a different token) claimable by the beneficiary. In the event that the collateral and credited tokens are different (a “dynamic LOC”), the LOC must be overcollateralized and is subject to liquidation if at risk. Every supported asset pair has an AssetPairCollateralFactor configuration that defines the creation and liquidation thresholds along with the incentive to the liquidator to process the conversion. This contract’s token support is configured with ERC-20 tokens that must also be supported by the CollateralVault.sol and PythPriceOracle.sol as well as their respective maximum usage limits. Note: LetterofCredit is deployed as a proxy that delegates to a singleton contract.

Pricing.sol

A contract of math-related helpers to support CollateralVault.sol, PythPriceOracle.sol, and TimeBasedCollateralPool.solin pricing calculations.

PythPriceOracle.sol

Price oracle utilizing Pyth that provides data to LetterOfCredit.sol for functions that require recent and accurate pricing. Pyth makes whole token-to-USD prices available, whereas Anvil protocol contracts need token-to-token prices in the most granular units possible, so this adapter contract pieces X-to-USD and Y-to-USD prices together to get a X-to-Y price without loss of precision. This contract must be configured with the Pyth price feed ids for all supported tokens in the LetterOfCredit.sol contract.

Refundable.sol

Contract that exposes a function modifier that may be used to ensure that calls to the modified function refund any ETH to the caller that was passed to the function and not used in the function's execution.

Reward.sol

Generic reward contract enabling cumulative reward publishing and claiming via Merkle roots by rewarded accounts. It may be configured to use any ERC-20 token for rewards. The Reward.sol address listed above uses ANVL as the reward token.

SignatureNonces.sol

Built on OpenZeppelin’s Nonces.sol, this contract provides protocol-wide nonces per account per operation for use in signatures in order to ensure data synchronization, prevent replay attacks, and allow for signature cancellation.

SignatureNoncesUpgradeable.sol

Upgradeable version of SignatureNonces built based on OpenZeppelin’s NoncesUpgradeable.sol,

TimeBasedCollateralPool.sol

A singleton contract that defines the protocol mechanism for multi-party collateral pooling for the benefit of a specified claimant. Defines the logic for participation in a pool via staking one or many different types of ERC-20 tokens compatible with CollateralVault.sol in exchange for corresponding stake units on a per token basis. It also defines a predictable and trustless unstaking process via utilizing a pool’s configured epoch time period. Pool instances may be created by standing up a proxy contract (such as VisibleBeaconProxy.sol), configuring its beacon to be the Anvil governance-managed Beacon, and submitting a Governance proposal to have the CollateralVault accept the proxy as an approved collaterizable contract. The benefit of using this proxy pattern is that the implementation is easily upgraded and maximally lightweight via separating state storage (in the proxy contract) from core logic (this contract).

UniswapLiquidator.sol

A simple liquidator that may be configured and used to convert at-risk LOCs. There are much more efficient and profit-maximizing liquidators that can and hopefully will be written by 3rd party liquidators, but it is in Anvil's best interest to have many functioning liquidators that guarantee that at-risk LOCs are converted, so Anvil has provided an implementation that others may use.

VisibileBeaconProxy.sol

Extends OpenZeppelin’s BeaconProxy to make the implementation and beacon publicly-accessible via getters.

Installation & Build

To run Anvil, clone the repository from GitHub and install its dependencies (NodeJS version 20).

git clone https://github.com/AcronymFoundation/anvil-contracts.git
cd anvil-contracts
npm install
npx hardhat compile

Discussion

For any concerns with the protocol, please open an issue and/or visit us on Discord to discuss.

For security concerns, please email security@anvil.xyz.

© Copyright 2024, Acronym Foundation