Merge pull request #196 from opynfinance/feature/permissionless-factory

Permissionless factory

contracts/OptionsFactory.sol

@@ -40,6 +40,8 @@ contract OptionsFactory is Ownable {
      * @param _strike The asset in which the insurance is calculated
      * @param _expiry The time at which the insurance expires
      * @param _windowSize UNIX time. Exercise window is from `expiry - _windowSize` to `expiry`.
+     * @dev this condition must hold for the oToken to be safe: abs(oTokenExchangeExp - underlyingExp) < 19
+     * @dev this condition must hold for the oToken to be safe: max(abs(strikeExp + liqIncentiveExp - collateralExp), abs(strikeExp - collateralExp)) <= 9
      */
     function createOptionsContract(
         address _collateral,
@@ -78,8 +80,8 @@ contract OptionsFactory is Ownable {
         optionsContracts.push(address(otoken));
         emit OptionsContractCreated(address(otoken));
 
-        // Set the owner for the options contract.
-        otoken.transferOwnership(owner());
+        // Set the owner for the options contract to the person who created the options contract
+        otoken.transferOwnership(msg.sender);
         return address(otoken);
     }
 

test/optionsFactory.test.ts

@@ -213,16 +213,16 @@ contract(
           addr: lastAdded
         });
 
-        // Check the ownership
-        const ownerFactory = await optionsFactory.owner();
-        expect(ownerFactory).to.equal(creatorAddress);
+        // Check the ownership - no longer needs to be the owner of the Factory
+        // const ownerFactory = await optionsFactory.owner();
+        // expect(ownerFactory).to.equal(creatorAddress);
 
         // TODO: check that the ownership of the options contract is the creator address
         // const optionsContractAddr = result.logs[1].args[0];
         const optionContract = await OptionsContract.at(lastAdded);
 
         const optionContractOwner = await optionContract.owner();
-        expect(optionContractOwner).to.equal(creatorAddress);
+        expect(optionContractOwner).to.equal(firstOwnerAddress);
       });
     });
   }

test/series/yfi-call.test.ts

@@ -0,0 +1,160 @@
+import {
+  OptionsFactoryInstance,
+  OTokenInstance,
+  Erc20MintableInstance
+} from '../../build/types/truffle-types';
+
+import BigNumber from 'bignumber.js';
+const {time, expectRevert} = require('@openzeppelin/test-helpers');
+
+const OTokenContract = artifacts.require('oToken');
+const OptionsFactory = artifacts.require('OptionsFactory');
+const MockERC20 = artifacts.require('MockERC20');
+
+import Reverter from '../utils/reverter';
+
+contract('OptionsContract: YFI call', accounts => {
+  const reverter = new Reverter(web3);
+
+  const creatorAddress = accounts[0];
+  const firstOwner = accounts[1];
+  const tokenHolder = accounts[2];
+
+  let optionsFactory: OptionsFactoryInstance;
+  let oYfi: OTokenInstance;
+  // let oracle: MockyfioundOracleInstance;
+  let yfi: Erc20MintableInstance;
+  let usdc: Erc20MintableInstance;
+
+  const usdcAmount = '1000000000'; // 1000 USDC
+  const yfiAmount = '10000000000000000000000'; // 10,000 yfi
+
+  const _name = 'YFI call $0.50';
+  const _symbol = 'oYfi $0.50';
+
+  before('set up contracts', async () => {
+    const now = (await time.latest()).toNumber();
+    const expiry = now + time.duration.days(30).toNumber();
+    const windowSize = expiry; // time.duration.days(1).toNumber();
+
+    // 1. Deploy mock contracts
+    // 1.2 Mock yfi contract
+    yfi = await MockERC20.new('YFI', 'YFI', 18);
+    await yfi.mint(creatorAddress, yfiAmount); // 10000 yfi
+    await yfi.mint(firstOwner, yfiAmount);
+
+    // 1.3 Mock USDC contract
+    usdc = await MockERC20.new('USDC', 'USDC', 6);
+    await usdc.mint(creatorAddress, usdcAmount);
+    await usdc.mint(tokenHolder, usdcAmount);
+
+    // 2. Deploy the Options Factory contract and add assets to it
+    optionsFactory = await OptionsFactory.deployed();
+
+    await optionsFactory.whitelistAsset(yfi.address);
+    await optionsFactory.whitelistAsset(usdc.address);
+
+    // Create the unexpired options contract
+    const optionsContractResult = await optionsFactory.createOptionsContract(
+      yfi.address,
+      usdc.address,
+      yfi.address,
+      -6,
+      2,
+      -6,
+      expiry,
+      windowSize,
+      _name,
+      _symbol,
+      {from: creatorAddress}
+    );
+
+    const optionsContractAddr = optionsContractResult.logs[1].args[0];
+    oYfi = await OTokenContract.at(optionsContractAddr);
+
+    await reverter.snapshot();
+  });
+
+  describe('New option parameter test', () => {
+    it('should have basic setting', async () => {
+      assert.equal(await oYfi.name(), String(_name), 'set name error');
+      assert.equal(await oYfi.symbol(), String(_symbol), 'set symbol error');
+    });
+
+    it('should open empty vault', async () => {
+      await oYfi.openVault({
+        from: creatorAddress
+      });
+      const vault = await oYfi.getVault(creatorAddress);
+      assert.equal(vault[0].toString(), '0');
+      assert.equal(vault[1].toString(), '0');
+      assert.equal(vault[2].toString(), '0');
+    });
+
+    it('should add YFI collateral successfully', async () => {
+      await yfi.approve(oYfi.address, yfiAmount, {from: creatorAddress});
+      await oYfi.addERC20Collateral(creatorAddress, yfiAmount, {
+        from: creatorAddress
+      });
+
+      // test that the vault's balances have been updated.
+      const vault = await oYfi.getVault(creatorAddress);
+      assert.equal(vault[0].toString(), yfiAmount);
+      assert.equal(vault[1].toString(), '0');
+      assert.equal(vault[2].toString(), '0');
+    });
+
+    it('should add YFI collateral and Mint', async () => {
+      const amountToIssue = new BigNumber('2');
+
+      await yfi.approve(oYfi.address, yfiAmount, {from: firstOwner});
+
+      await oYfi.createERC20CollateralOption(
+        amountToIssue.toString(),
+        yfiAmount,
+        firstOwner,
+        {
+          from: firstOwner
+        }
+      );
+
+      // test that the vault's balances have been updated.
+      const vault = await oYfi.getVault(firstOwner);
+      assert.equal(vault[0].toString(), yfiAmount);
+      assert.equal(vault[1].toString(), amountToIssue.toString());
+      assert.equal(vault[2].toString(), '0');
+    });
+
+    it('should not exercise without underlying allowance', async () => {
+      await oYfi.transfer(tokenHolder, '2', {from: firstOwner});
+
+      await expectRevert(
+        oYfi.exercise('100', [firstOwner], {
+          from: tokenHolder
+        }),
+        'transfer amount exceeds allowance.'
+      );
+    });
+
+    it('should be able to exercise', async () => {
+      const amountToExercise = '2';
+      const underlyingRequired = (
+        await oYfi.underlyingRequiredToExercise(amountToExercise)
+      ).toString();
+
+      await usdc.approve(oYfi.address, underlyingRequired, {
+        from: tokenHolder
+      });
+
+      await oYfi.exercise(amountToExercise, [firstOwner], {
+        from: tokenHolder
+      });
+
+      // test that the vault's balances have been updated.
+      const vault = await oYfi.getVault(firstOwner);
+      assert.equal(vault[0].toString(), '9999999996000000000000');
+      assert.equal(vault[1].toString(), '0');
+      assert.equal(vault[2].toString(), underlyingRequired);
+    });
+  });
+});