Git Source

Inherits: IAbstractFeeModule

Author: DEFYCA Labs S.à.r.l

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Interface defining the frictionless conversion and atomic swapping of any FrictionlessFundDepositToken currency pair on the Frictionless protocol. The FX rates are set from the live spot & forward FX partners on the protocol.

Functions

setFXDeskFeeAddr

Sets the address of the FXDesk fee recipient Only Owner (PROTOCOL_ADMIN) can call this function

function setFXDeskFeeAddr(address newFXDeskFeeAddr_) external;

Parameters

setSwapFees

Set the swap fees for the swaps of a token pair. The fees can be any combination of zero (0%) or upto 10000 bps (100%) on any directional transfer. Fees can only be set by the Owner (PROTOCOL_ADMIN).

function setSwapFees(
    FrictionlessTokenFXFeeInfo calldata token0FeeInfo_,
    FrictionlessTokenFXFeeInfo calldata token1FeeInfo_
) external;

Parameters

setTokenFee

Set the fee associated with the swap of a Token and manages the mapping of the key to this set of Fees. Can only be set by the Owner (PROTOCOL_ADMIN).

function setTokenFee(bytes32 tokenFeeKey_, FrictionlessTokenFXFeeInfo calldata tokenFeeInfo_) external;

Parameters

swapTokens

Swaps tokens between addresses at a specified exchange rate Only PROTOCOL_TREASURY can call this function

function swapTokens(
    address sellingTokenAddr_,
    address buyingTokenAddr_,
    address tokenSender_,
    address tokenRecipient_,
    uint256 buyingTokensAmount_,
    uint256 buyingTokenExchangeRate_
) external;

Parameters

fxDeskFeeAddr

Retrieves the address of the FXDesk fee recipient

function fxDeskFeeAddr() external view returns (address);

Returns

treasuryManager

Retrieves the Frictionless Treasury Manager contract

function treasuryManager() external view returns (IFrictionlessTreasuryManager);

Returns

permissionManager

Retrieves the Frictionless Permissions Manager contract

function permissionManager() external view returns (IFrictionlessPermissionsManager);

Returns

getSwapFeesInfo

get the tokenFeeInfo set for the fees associated per token in an exchange.

function getSwapFeesInfo(address token0_, address token1_) external view returns (FeeInfo memory, FeeInfo memory);

Parameters

Returns

getSwapFeeKeys

Generates keys based on the packed encoding of the addresses of sets of tokens using the keccak256 hashing function. Used to store tokenFees in mappings.

function getSwapFeeKeys(address token0_, address token1_) external view returns (bytes32, bytes32);

Parameters

Returns

getTokenFeeKey

Generates a key based on the packed encoding of the addresses of both tokens using the keccak256 hashing function. Used to store tokenFees in mappings.

function getTokenFeeKey(address token0_, address token1_) external view returns (bytes32);

Parameters

Returns

getSellingTokensAmount

Calculates the amount of selling tokens based on the buying amount and exchange rate

function getSellingTokensAmount(uint256 buyingTokensAmount_, uint256 buyingTokenExchangeRate_)
    external
    view
    returns (uint256);

Parameters

Returns

Events

FrictionlessFXTokensSwapped

Event emitted upon successful token swaps

event FrictionlessFXTokensSwapped(
    address sellingTokenAddr,
    address buyingTokenAddr,
    address tokenSender,
    address tokenRecipient,
    uint256 sellingTokensAmount,
    uint256 buyingTokensAmount,
    uint256 buyingTokenExchangeRate
);

Errors

FrictionlessFXSwapInvalidTokenAddresses

error thrown during setSwapFees if token adresses are invalid (zero addresses, equals addresses and etc.).

error FrictionlessFXSwapInvalidTokenAddresses(address token0, address token1);

FrictionlessFXSwapInvalidFeeRecipientAddr

error thrown during setSwapFees, setTokenFee and swapTokens if the fxDeskFeeRecipient doesn't equal to the stored fxDeskFeeAddr

error FrictionlessFXSwapInvalidFeeRecipientAddr(address newFeeRecipient);

FrictionlessFXSwapNotEnoughPermissions

error thrown during swapTokens if the msg.sender is not a PROTOCOL_TREASURY.

error FrictionlessFXSwapNotEnoughPermissions();

Structs

FrictionlessTokenFXFeeInfo

Structure representing token fee information including the token address and fee information

struct FrictionlessTokenFXFeeInfo {
    address tokenAddr;
    uint256 feeAbsoluteLimit;
    FeeInfo feeInfo;
}

The FX Swap contracts in the Frictionless protocol provide an instant/atomic swap of a currency pair at a quoted spot or forward rate.

Built on cash custody with G-SIB banking providers and FX partners in the EU, the list of supported currencies and currency pairs is maintained in our listing.

FX Swaps work by automating the treasury operations in an FX transaction, namely:

1. Establishment of optional FX fees to be paid by the seller of currency A,

2. Utilization of the buying rate for currency Z in the swap. The rate utilized in the Frictionless protocol is obtained from our FX partners, the Frictionless Markets team support both spot and forward rates for FX Swaps offering clients the ultimate flexibility and transparency in FX swaps.

3. Execution of the swap as a single atomic transaction whereby currency A and currency Z are burned and minted from/to two counterparties with the automatic collection of optional fees. This operation can only be directed by the PROTOCOL_TREASURY to avoid market manipulation of FX rates.

In this FX Swap USD was sold for 5,000 EUR. The rate used was a spot rate provided to the Frictionless Markets team. In the block explorer, you can see the collection of fees, burn of fsUSD and mint of fsEUR. The swap and fee collection ran as a single atomic transaction and cost 0.80 USD to execute on the Avalanche C-Chain.