Gearbox DCA Bot Example

This is a Solidity example of a DCA (Dollar-Cost Averaging) Bot service using the Gearbox protocol. You can use your WBTC as collateral and borrow USDT to DCA buying in the WETH/USDT market.

It does not include backend and frontend services. However, you can easily build a server with two endpoints: one to store signatures in a database, and another to provide available signatures to keeper bots. For frontend, you need to calculate the health risk related stuff and form the Order structure. (Please check _prepareCreditAccountAndSetBotPermissions(), and _prepareXXXCollateralForDCABot in the GearboxDCA.t.sol or the below flow chart to know more about it.)

Flow Chart

User End

1. Approve creditManager to spend N amount of collateral (EIP-2612-compatible token can skip this step)
   • N > order.collateralAmount * order.parts (order is the struct in 4.) Otherwise, the order will not be be executed.
2. Send creditFacade.openCreditAccount(user, [addCollateral(WETH,10 ether)], 0)
3. Send creditFacade.setBotPermissions(dcaBot, EXTERNAL_CALLS_PERMISSION)
4. Submit a DCA order to server

Keeper End

1. By static calling executeOrder() or getOrderStatus() to check an order executability
2. Send executeOrder() to execute an order.

Design Note

How should we handle the openCreditAccount?

Capital efficiency version

• User on-chain actions:
  1. Approve dcaBot to spend 10 WETH (EIP-2612-compatible token can skip this step)
  2. creditFacade.openCreditAccount(user, [], 0)
  3. creditFacade.setBotPermissions(dcaBot, PERMISSIONS)
• Pros:
  1. Capital efficiency: User can move their money easily. Funds will be moved when the order gets executed
• Cons: 1. Extra security risk: User needs to approve first to let dcaBot to spend their money

(Skip) Capital inefficiency version

• User on-chain actions:
  1. Approve creditManager to spend 10 WETH (EIP-2612-compatible token can skip this step)
  2. creditFacade.openCreditAccount(user, [addCollateral(WETH,10 ether)], 0)
  3. creditFacade.setBotPermissions(dcaBot, EXTERNAL_CALLS_PERMISSION)
• Pros:
  1. Simple design: dcaBot only needs to care about the creditFacade's external calls
• Cons:
  1. Capital inefficiency: collateral stores in the credit account first

Usage

.env

mv .env.example .env # please update .env

Build

$ forge build

Test

$ forge test

Format

$ forge fmt