Gamma Protocol

Gamma is a decentralized capital efficient option protocol that enables sellers to create spreads. Gamma protocol enables any user to create arbitrary option tokens, that represent the right to buy or sell a certain asset in a predefined price (strike price) at or before expiry. As the option seller in Gamma, you can reduce the amount of capital locked in the system by creating spreads. (e.g Instead of putting down 100 USDC and mint 1 ETH-USDC-100 Put, you can buy a ETH-USDC-50 Put, and only deposit 50 USDC as collateral) The oTokens created by Gamma are cash settled European option, means all the options will automatically be exercised at expiry. A holder can redeem the proceeds by sending the oTokens back, the system will pay the holder the cash value based on strike price and underlying spot price at expiry, instead of actually exchanging the underlying asset and the strike asset.

Documentation

Our docs site is here. It contains tutorials, explainers, and smart contract documentation. If you'd like to view these docs on github instead, check out the docs folder in the docs repo:

• Smart contracts documentation
• UML diagrams
• Control flow diagrams

Local Development Setup

For local development it is recommended to use ganache to run a local development chain. Using the ganache simulator no full Ethereum node is required.

As a pre-requisite, you need:

• Node.js (v10.18.0)
• NPM

Clone the project and install all dependencies:

$ git clone https://github.com/opynfinance/GammaProtocol.git
$ cd GammaProtocol

# install project dependencies
$ npm i

Compile all contracts:

$ npm run build

In a new terminal, launch an Ethereum RPC client, we use the default ganache-cli command to configure and run a local development ganache:

$ npm run ganache

Switch back to your other terminal and deploy the contracts, and make sure to to setup the deployments parameters in ./migrations/deployment-config.json file:

# Local deployment
$ npm run deploy:development

# Mainnet deployment
$ npm run deploy:mainnet

Running Tests

Run all unit tests:

$ npm run test:unit

Run all integration tests:

$ npm run test:integration

Scripts

Payable Proxy Contract Deployment

To deploy a new PayableProxyController.sol, it is recommended to use the deployPayableProxyController truffle script inside the scripts folder.

Input

truffle exec scripts/deployPayableProxyController.js --network mainnet --controller 0x7d78c401c69c56cb21f4bf80c53afd92be0BBBBB --pool 0xc02aaa39b223fe8d0a0e5c4f27ead9083c7AAaaa --weth 0x5f4eC3Df9cbd43714FE2740f5E3616155cAGAGAG --gasPrice 50000000000

Output

Deploying payable proxy contract on mainnet 🍕
Payable proxy contract deployed! 🎉
Transaction hash: 0xebf12fc6603ee857bcabe1c0c6194XX82639a9888776f7ff6e83a409XXXXXXXX
Deployed contract address: 0x669cC97687c792fc5369d7bdd38cXXXXXXXXXX

Chainlink Pricer Deployment

To deploy a new ChainlinkPricer.sol, it is recommended to use the deployChainlinkPricer truffle script inside the scripts folder.

Input

truffle exec scripts/deployChainlinkPricer.js --network mainnet --controller 0x7d78c401c69c56cb21f4bf80c53afd92be0BBBBB --pool 0xc02aaa39b223fe8d0a0e5c4f27ead9083c7AAaaa --weth 0x5f4eC3Df9cbd43714FE2740f5E3616155cAGAGAG --oracle 0xef196aA0e3Cb8EA6d5720557C3B611Eff6OOOOOO --gasPrice 50000000000

Output

Deploying chainlink pricer contract on mainnet 🍕
Chainlink pricer deployed! 🎉
Transaction hash: 0xebf12fc6603ee857bcabe1c0c6194XX82639a9888776f7ff6e83a409XXXXXXXX
Deployed contract address: 0x669cC97687c792fc5369d7bdd38cXXXXXXXXXX

Permit Callee Deployment

The PermitCallee.sol contract allow user to call permit() function through the Controller Call action. To deploy a new PermitCallee.sol, it is recommended to use the deployPermitCallee truffle script inside the scripts folder.

Input

truffle exec scripts/deployPermitCallee.js --network kovan --gasPrice 50000000000

TradeCallee Deployment

the TradeCallee.sol contract allow to batch 0x trading transactions with Gamma operate actions through the Call action. To deploy a new TradeCallee.sol, it is recommended to use the deployTrade0x truffle script inside the scripts folder.

Input

truffle exec scripts/deployTrade0x.js --network ropsten --exchange 0xdef1c0ded9bec7f1a1670819833240f027b25eff --weth 0xc778417e063141139fce010982780140aa0cd5ab --controller 0x7e9beaccdccee88558aaa2dc121e52ec6226864e --gas 100000000000

Linting

Clean code is the best code, so we've provided tools to automatically lint your projects.

Lint all smart contracts:

$ npm run lint:sol

Lint all tests files:

$ npm run lint:tests

Automatically Fixing Linting Issues

We've also provided tools to make it possible to automatically fix any linting issues. It's much easier than trying to fix issues manually.

Fix all smart contracts:

$ npm run lint:sol:prettier:fix

Fix all tests files:

$ npm run lint:tests:prettier:fix

Coverage

We use the solidity-coverage package to generate our coverage reports. You can find the coverage report at coveralls. Otherwise, you can generate it locally by running:

$ npm run coverage

The full report can be viewed by opening the coverage/index.html file in a browser.

Security And Bug Bounty Program

The security of the Opyn protocol is our highest priority. Our team has created a protocol that we believe is safe and dependable, and has been audited by OpenZeppelin. All smart contract code is publicly verifiable and we have a bug bounty for undiscovered vulnerabilities. We encourage our users to be mindful of risk and only use funds they can afford to lose. Options are complex instruments that when understood correctly can be powerful hedges. Smart contracts are still new and experimental technology. We want to remind our users to be optimistic about innovation while remaining cautious about where they put their money.

Please see here for details on our security audit and bug bounty program.