Oracle-based Auctioneers

The Oracle-based Auctioneer contracts allow market creators to create bond markets that use external price feeds to stay in line with market prices. There are two variants of Oracle-based Auctioneers:

• Oracle Fixed Discount Auctioneer (OFDA)

• Oracle Sequential Dutch Auctioneer (OSDA)

The IBondOracle interface is required to be implemented for a contract that will serve as an oracle. Bond protocol has created a Base Oracle abstract and implemented a sample oracle contract for Chainlink price feeds that can be used by market issuers. With the sample contract, each issuer deploys their own oracle contract so they have control over the configuration.

IBondOracle

Methods

currentPrice

function currentPrice(uint256 id_) external view returns (uint256)

Returns the price as a ratio of quote tokens to base tokens for the provided market ID scaled by 10^decimals(id_).

Market ID is not known prior to market creation. This version is used by the Bond system after market creation.

Parameters

Name	Type	Description
id_	uint256	Market ID

Returns

Name	Type	Description
price	uint256	Oracle price

currentPrice

function currentPrice(contract ERC20 quoteToken_, contract ERC20 payoutToken_) external view returns (uint256)

Returns the price as a ratio of quote tokens to base tokens for the provided token pair scaled by 10^decimals(quoteToken_, payoutToken_)

Not used directly by the bond system, but useful for checking whether the oracle parameters are setup correctly before deploying a bond market.

Parameters

Name	Type	Description
quoteToken_	contract ERC20	Token that purchasers provide to the market and creators receive.
payoutToken_	contract ERC20	Token that creators provide and purchasers will receive from the market.

Returns

Name	Type	Description
price	uint256	Oracle price

decimals

function decimals(uint256 id_) external view returns (uint8)

Returns the number of configured decimals of the price value for the provided market ID

Market ID is not known prior to market creation. This version is used by the Bond system after market creation.

Parameters

Name	Type	Description
id_	uint256	Market ID

Returns

Name	Type	Description
decimals	uint8	Number of decimals to assume for Market ID price

decimals

function decimals(contract ERC20 quoteToken_, contract ERC20 payoutToken_) external view returns (uint8)

Returns the number of configured decimals of the price value for the provided token pair

Parameters

Name	Type	Description
quoteToken_	contract ERC20	Token that purchasers provide to the market and creators receive.
payoutToken_	contract ERC20	Token that creators provide and purchasers will receive from the market.

Returns

Name	Type	Description
decimals	uint8	Number of decimals to assume for token pair price

registerMarket

function registerMarket(uint256 id_, contract ERC20 quoteToken_, contract ERC20 payoutToken_) external nonpayable

Register a new bond market on the oracle

Used by the bond system to register the market ID and token pair. Must permission the auctioneer to use this function.

Parameters

Name	Type	Description
id_	uint256	Market ID
quoteToken_	contract ERC20	Token that purchasers provide to the market and creators receive.
payoutToken_	contract ERC20	Token that creators provide and purchasers will receive from the market.