/lottery-contract

Primary LanguageSolidity

cover-core-v2

Design

The essense of Cover is CoverPools. Each CoverPool consists of multiple risky underlying to be covered. If any of the risky underlying of a pool experience an exploit (as per claims guidelines), all active coverages (Cover) of the CoverPool will be paid out up to 100%.

The following are the elements of the V2.

  • CoverPoolFactory is the contract that creates CoverPools. It also stores information that are common to all V2 contracts, like logic contract implementation addresses, addresses of multi-sigs, claim manager address etc.
  • CoverPool is the main element of V2. It handles coverage creation and minting, adding/deleting risk covered, stores accepted claims for the pool. A risk can be an asset or underlying that is covered in a coverage.
  • Cover stores the deposited collateral funds for the coverage and handle minting and burning of covTokens, redeeming of collaterals
  • CoverERC20 the ERC20 covToken contract, normal ERC20 funcs with a few Cover specific func.
  • ClaimManagement (ClaimConfig is part of that) manages the claiming process of Cover Protocol. It may call CoverPool on ..* enactClaim when a claim is accepted ..* setNoclaimRedeemDelay when a claim is filed or all claims are decided

Privileged roles and consequences

  • Responder (multi-sig) can pause the protocol, it will pause all user interactions but not owner access (below).
    • Pause adding new cover
    • Pause future token conversion
    • Pause redeem back collateral
    • Pause redeem with claims
  • Owner of Factory (Dev multi-sig): normal operations of the protocol including
    • Onboard new cover pools, expiries, collaterals, etc
    • Add and delete risks in the Cover pools
    • Update cover pool status
    • Update parameters like feeRate and currency, CVC groups
    • Pause the protocol
  • ClaimManager (contract): can enact a claim on Cover Pools, which will trigger a nonce increment and payout.
  • Treasury (multi-sig / contracts / EOA): it receives fees. By deployment it will be a multi-sig, but it can be any account.
  • CVC (multi-sig): can decide a claim with triggers the ClaimManager calls the cover pool. A majority of the CVC group have to agree on the validity of the claim and its payout distrobution.

Limitations

⚠ Warning: Rebasing and deflationary tokens are not supported as collateral!

Development

  • run npm install to install all node dependencies
  • run npx hardhat compile to compile

Run Test With hardhat EVM (as an independent node)

  • Run npx hardhat node to setup a local blockchain emulator in one terminal.
  • npx hardhat test --network localhost run tests in a new terminal. npx hardhat node restart required after full test run. As the blockchain timestamp has changed.

Coverage

  • run npx hardhat coverage --solcoverjs ./.solcover.js --network localhost, note one test (Should deploy Cover in two txs with CoverPool) will fail. Follow the steps above, it should pass.

Deploy to Kovan Testnet

  • Run npx hardhat run scripts/deploy.js --network kovan

  • Verify CoverPoolFactory: args - (coverPoolImpl, coverImpl, coverERC20Impl, treasury)

    • npx hardhat verify --network kovan 0xDC265877074655DF30712Cb59B5b24eBE51df698 "0x907c2eDC9A31E0d6230FaC98B2e6E441bE61E7cB" "0xa7515d4eB1eA8a57B879D4A4c267647f080B44f8" "0x3Ff814F5D104Ee696F721A600A8def5D8346858D" "0xe50fb5e4f608d96beb8b4364522e189fb98d821d"

  • Verify Claim Management: args - (fee, treasury, coverPoolFactory, defaultCVC/auditor)

    • npx hardhat verify --network kovan 0x584288Fa61D899066aCad1deF556ca0f3DB0e469 "0x4F96Fe3b7A6Cf9725f59d353F723c1bDb64CA6Aa" "0xe50fb5e4f608d96beb8b4364522e189fb98d821d" "0xF975ED6E2296Ec6953Dd77450Fb23389053d188F" "0x92E812467Df28763814f465048ae4c2AFfAd7631"

  • Verify Implementations:

    • npx hardhat verify --network kovan {address}

  • View on Kovan npx hardhat run scripts/view.js --network kovan