✡️Contracts

List of VM Finance contracts.

Contracts on Avalanche

• VMC:

• Vault:

• Router:

• PositionRouter:

• OrderBook:

• Reader:

• RewardReader:

• OrderBookReader:

• StakedVMC:

• StakedVMlp:

• VMlpManager:

• RewardRouter:

• VMlpRewardRouter:

• VMC-AVAX Trader Joe Pool:

Source Code

• Vault:

• Router:

• Reader:

Swap

To execute a swap:

• Approve the Router contract for the token and amount you would like to swap

• Call Router.swap with parameters:

  • _path: [tokenIn, tokenOut]

  • _amountIn: amount of tokenIn to swap

  • _minOut: minimum expected output amount

  • _receiver: address of the receiver of tokenOut

• The function will revert if the amount of tokenOut sent to the receiver is less than _minOut

To get swap amounts before execution:

• Call Reader.getMaxAmountIn with parameters:

  • _vault: address of the vault

  • _tokenIn: address of token that will be given

  • _tokenOut: address of token to be received

  • The max amount of tokenIn that can be swapped will be returned

• Call Reader.getAmountOut with parameters:

  • _vault: address of the vault

  • _tokenIn: address of token that will be given

  • _tokenOut: address of token to be received

  • _amountIn: amount of tokenIn to swap

  • Two values will be returned, the first is the amount out after fees, and the second is the fee amount

  • The fee amount will be in terms of tokenOut

Tokens have a usdgAmount in the Vault contract used for some calculations, this amount is updated on minting of VMLP, redemption of VMLP and swaps based on the price of the token at the time. Due to price fluctuations this value may drift slightly from the actual USD value of the tokens in the pool, the usdgAmount is periodically updated to re-align values.

Query Available Amounts

The maximum sum of all position sizes is limited by the amount of tokens there are in the pool and any additional caps.

To calculate the available amount of liquidity for long positions:

• indexToken: the address of the token to long

• Available amount in tokens: Vault.poolAmounts(indexToken) - Vault.reservedAmounts(indexToken)

• Available amount in USD: PositionRouter.maxGlobalLongSizes(indexToken) - Vault.guaranteedUsd(indexToken)

• The available liquidity will be the lower of these two values

• PositionRouter.maxGlobalLongSizes(indexToken) can be zero, in which case there is no additional cap, and available liquidity is based only on the available amount of tokens

To calculate the available amount of liquidity for short positions:

• indexToken: the address of the token to short

• collateralToken: the address of the stablecoin token to be used as collateral

• Available amount in tokens: Vault.poolAmounts(collateralToken) - Vault.reservedAmounts(collateralToken)

• Available amount in USD: PositionRouter.maxGlobalShortSizes(indexToken) - Vault.globalShortSizes(indexToken)

• The available liquidity will be the lower of these two values

• PositionRouter.maxGlobalShortSizes(indexToken) can be zero, in which case there is no additional cap, and available liquidity is based only on the available amount of tokens

Opening / Increasing a Position

To open or increase the size of an existing position:

• Approve the PositionRouter as a Router plugin for your account

  • Router.approvePlugin(PositionRouter address)

• Approve the Router contract for the token and amount you would deposit as collateral for the position

• Call PositionRouter.createIncreasePosition with parameters:

  • _path: [collateralToken] or [tokenIn, collateralToken] if a swap is needed

  • _indexToken: the address of the token you want to long or short

  • _amountIn: the amount of tokenIn you want to deposit as collateral

  • _minOut: the min amount of collateralToken to swap for

  • _sizeDelta: the USD value of the change in position size

  • _isLong: whether to long or short

  • _acceptablePrice: the USD value of the max (for longs) or min (for shorts) index price acceptable when executing the request

  • _executionFee: can be set to PositionRouter.minExecutionFee

  • _referralCode: referral code for affiliate rewards and rebates

  • _callbackTarget: an optional callback contract, this contract will be called on request execution or cancellation

• After this transaction is sent a keeper will execute the request, the request will either be executed or cancelled

• If the position cannot be increased for reasons such as the _acceptablePrice not being fulfillable or there being insufficient liquidity then the request will be cancelled and funds will be sent back to the msg.sender that called PositionRouter.createIncreasePosition

• _minOut can be zero if no swap is required

• USD values for _sizeDelta and _price are multiplied by (10 ** 30), so for example to open a long position of size 1000 USD, the value 1000 * (10 ** 30) should be used

Closing / Decreasing a Position

To close or decrease an existing position:

• Call PositionRouter.createDecreasePosition with parameters:

  • _path: [collateralToken] or [collateralToken, tokenOut] if a swap is needed

  • _indexToken: the index token of the position

  • _collateralDelta: the amount of collateral in USD value to withdraw

  • _sizeDelta: the USD value of the change in position size

  • _isLong: whether the position is a long or short

  • _receiver: the address to receive the withdrawn tokens

  • _acceptablePrice: the USD value of the min (for longs) or max (for shorts) index price acceptable when executing the request

  • _minOut: the min output token amount

  • _executionFee: can be set to PositionRouter.minExecutionFee

  • _withdrawETH: only applicable if WETH will be withdrawn, the WETH will be unwrapped to ETH if this is set to true

  • _callbackTarget: an optional callback contract, this contract will be called on request execution or cancellation

• After this transaction is sent a keeper will execute the request, the request will either be executed or cancelled

• If the position cannot be decreased for reasons such as the _acceptablePrice not being fulfillable then the request will be cancelled and there will be no change to the position

• _minOut can be zero if no swap is required

Positions List

A list of position details can be retrieved by calling Reader.getPositions

• _vault: the vault contract address

• _account: the account of the user

• _collateralTokens: an array of collateralTokens

• _indexTokens: an array of indexTokens

• _isLong: an array of whether the position is a long position

The returned positions will be in the order of the query, for example, given the following inputs:

• _collateralTokens: [WBTC.address, WETH.address, USDC.address]

• _indexTokens: [WBTC.address, WETH.address, WBTC.address]

• _isLong: [true, true, false]

The position details would be returned for

• Long BTC position, positionIndex: 0

• Long ETH position, positionIndex: 1

• Short BTC position, positionIndex: 2

The returned array would be a list of values ordered by the positions:

• size

  • position size in USD

  • value at: positionIndex * 9

• collateral

  • position collateral in USD

  • value at: positionIndex * 9 + 1

• averagePrice

  • average entry price of the position in USD

  • value at: positionIndex * 9 + 2

• entryFundingRate

  • a snapshot of the cumulative funding rate at the time the position was entered

  • value at: positionIndex * 9 + 3

• hasRealisedProfit

  • 1 if the position has a positive realised profit, 0 otherwise

  • value at: positionIndex * 9 + 4

• realisedPnl

  • the realised PnL for the position in USD

  • value at: positionIndex * 9 + 5

• lastIncreasedTime

  • timestamp of the last time the position was increased

  • value at: positionIndex * 9 + 6

• hasProfit

  • 1 if the position is currently in profit, 0 otherwise

  • value at: positionIndex * 9 + 7

• delta

  • amount of current profit or loss of the position in USD

  • value at: positionIndex * 9 + 8

Buying / Selling VMLP

Buying and selling VMLP can be done through the VMlpRewardRouter.

To buy VMLP, call mintAndStakeVMlp

• _token: the token to buy VMLP with

• _amount: the amount of token to use for the purchase

• _minUsdg: the minimum acceptable USD value of the VMLP purchased

• _minGlp: the minimum acceptable VMLP amount

To sell VMLP, unstakeAndRedeemVMlp

• _tokenOut: the token to sell VMLP for

• _vmlpAmount: the amount of VMLP to sell

• _minOut: the minimum acceptable amount of tokenOut to be received

• _receiver: the address to send tokenOut to

• Note that VMLP can only be redeemed up to the reservedAmount, which is based on the amount of open interest, if the pool has been fully redeemed up to the reservedAmount then redeemers will need to wait for positions to close before further redemptions can be done, in this scenario the borrowing fee APR would be very high so liquidity providers will be incentivised to mint GLP and traders will be incentivised to close positions

The price of VMLP can be retrieved from [........]

• The buy price would be getAum(true) / vmlpSupply

• The sell price would be getAum(false) / vmlpSupply

Transferring Staked VMLP

When VMLP is bought it is automatically staked and when it is sold it is automatically unstaked, for integrations adding VMLP the StakedVMlp contract can be used to transfer staked VMLP tokens.

StakedVMlp behaves like a regular ERC20 token, the user can call approve on it to approve your contract, then your contract can call transferFrom to transfer the VMLP tokens to any receiving account or contract. When transferring, the StakedVMlp contract will unstake VMLP from the user and stake the VMLP for the receiving account, the receiving account or contract would then start earning rewards which can be compounded or claimed by calling handleRewards on the RewardRouter contract.

Since there is a 15 min cooldown duration after minting VMLP, this amount of time needs to pass for the user before transferFrom can be called for their account.

VMLP Price

The price of VMLP is based on the total worth of all tokens in the pool and factors in pending profits and losses from all currently opened positions.

• Buy price: vmlpManager.getPrice(true)

• Sell price: vmlpManager.getPrice(false)

Since there might be a spread for token pricing, passing in true into the getPrice function returns the maximum price at that point in time, while passing in false returns the minimum price.

Staking

The RewardRouter contract handles the necessary actions needed for staking in a single transaction.

When staking VMC:

• The RewardRouter deposits the VMC token into the StakedVmcTracker contract

• The StakedVmcTracker issues itself as a token for each token deposited

• esVMC can similarly be deposited into the StakedVmcTracker

• The StakedVmcTracker distributes esVMC to staked tokens

• After this step, the RewardRouter deposits the StakedVmcTracker tokens into the BonusVmcTracker

• The BonusVmcTracker distributes Multiplier Points to staked tokens

• Finally the BonusVmcTracker tokens are deposited into the FeeVmcTracker which distributes ETH or AVAX to staked tokens

When minting VMGLP:

• The RewardRouter sends the funds to be deposited to the VMlpManager and mints VMLP tokens

• The RewardRouter then deposits the VMLP tokens to the FeeVMlpTracker which distributes ETH or AVAX to the staked tokens

• Finally the RewardRouter deposits the FeeVMlpTracker tokens into the StakedVMlpTracker which distributes esVMC to staked tokens

To get the deposit balances for an account you can use RewardTracker.depositBalances(account, token), or RewardReader.getDepositBalances(account, depositTokens, rewardTrackers).

To get claimable rewards you can use RewardReader.getStakingInfo(account rewardTrackers), this returns an array of uint256 values in the order:

• Claimable rewards

• Amount of reward token distribution per second

• Average staked amount for account

• Total rewards distributed to account

• Total staked tokens in the rewardTracker