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Introductions

• One market (ex. ETH), one pool (could be many pools in the future if useful)

Specs

Workflows

Fill Order

• All orders are fill-or-kill order, so the target amount is always filled in full and it is ok to just return oppositeAmount

sequenceDiagram
    participant ClearingHouse
    participant PythOracleMaker
    participant PythOracle
		# pythUpdateData: <https://github.com/pyth-network/pyth-crosschain/blob/1dbc592836b8eb4ecc5c29ca5b829c80e4eb0b8b/target_chains/ethereum/examples/oracle_swap/contract/src/OracleSwap.sol#L51>
    ClearingHouse -> PythOracleMaker: fillOrder(1 ETH, pythUpdateData)
		PythOracleMaker -> PythOracle: updatePriceFeeds(pythUpdateData)
		PythOracleMaker -> PythOracle: getPrice()
		PythOracle --> PythOracleMaker: publishTime, price=1000
    Note left of PythOracleMaker: if price valid
		PythOracleMaker --> ClearingHouse: oppositeAmount=1000 USDC
    Note left of PythOracleMaker: if price invalid
		PythOracleMaker --> ClearingHouse: revert

Deposit

• Only can deposit the collateral supported by Vault.

• Call Vault.Deposit and update share

  sequenceDiagram
      participant LP
      participant PythOracleMaker
      participant Vault
  
  		PythOracleMaker -> LP: safeTransferFrom(LP, PythOracleMaker)
  		PythOracleMaker -> Vault: deposit()
  		PythOracleMaker --> LP: mint()
  

Withdraw

LP gets Maker account value pro rata

• Example:
  • Maker account value = 100 USDC
    • accountValue = margin + positionSize * price + openNotional
    • price = abs(fillOrder(positionSize) / positionSize)
  • LP withdraw 10% of liquidity
    • withdraw(share)
    • sharePrice = accountValue / totalSupply()
  • LP gets 10 USDC (share * sharePrice)

Events

Order Filled

/// @notice Emitted when an order is being filled by a Pyth Oracle Maker. 
///         It reveals all information associated to the trade price.
event PythOracleOrderFilled(
    uint256 orcalePrice,    // In quote asset as wei
                            // Assume price >= 0
    uint256 tradePrice,     // In quote asset as wei
                            // Assume price >= 0
    uint256 size,           // In base asset as wei
    uint256 fee,            // In quote asset as wei
    uint256 spread          // In percentage (1e6 = 100%)
);

Pricing

Quote Token