Rubicon Market

Contract Source Code (opens in a new tab)

Overview

RubiconMarket.sol implements order books and a matching engine for peer-to-peer trading of ERC-20 tokens (opens in a new tab).

An order book is a list of buy and sell orders for an asset, sorted by price level. This contract stores every ERC20/ERC20 order book as two double-linked sorted lists, one for each side of the given market.

The contract uses an escrow model for liquidity; when offer() is called, tokens are sent to the contract. If/when an order is filled, the contract matches the traders directly and the tokens are sent to each party. When cancel() is called, the contract removes the target offer() and returns the tokens to the owner.

This contract is a derivative work of MakerDAO's open-source OasisDEX (opens in a new tab) and inherits the AGPL-3.0 license.

Functions

offer()

    function offer(
        uint256 pay_amt,
        IERC20 pay_gem,
        uint256 buy_amt,
        IERC20 buy_gem,
    ) public returns (uint256)

Calling the offer() function places a limit order on Rubicon. The pay_amt quantity of the pay_gem token will be sent to the contract, sitting in escrow until the offer is filled or canceled. There are more advanced offer() functions that have parameters for specifying the position in the order book or a custom recipient address for the filled offer.

cancel()

    function cancel(uint id)
        public
        can_cancel(id)
        returns (bool success)

Cancels an offer() on the order book and returns the tokens to the owner. The can_cancel modifier checks that the target order is active and is owned by the caller.

batchOffer()

    function batchOffer(
        uint[] calldata payAmts,
        address[] calldata payGems,
        uint[] calldata buyAmts,
        address[] calldata buyGems
    ) external

Use batchOffer() to place multiple offers in a single transaction. The function takes four arrays as parameters: payAmts, payGems, buyAmts, and buyGems. The arrays must be the same length and the order of the elements must match. The function will loop through each element in the arrays and place an offer with the corresponding parameters.

batchCancel()

    function batchCancel(uint[] calldata ids) external

Use batchCancel() to cancel multiple offers in a single transaction. The function takes an array of offer() ids as a parameter. The function will loop through each element in the array and cancel the corresponding offer.

batchRequote()

    function batchRequote(
        uint[] calldata ids,
        uint[] calldata payAmts,
        address[] calldata payGems,
        uint[] calldata buyAmts,
        address[] calldata buyGems
    ) external

Use batchRequote() to cancel and replace multiple offers in a single transaction. The function takes five arrays as parameters: ids, payAmts, payGems, buyAmts, and buyGems. The arrays must be the same length and the order of the elements must match. The function will loop through each element in the arrays and cancel the corresponding offer. Then, it will place new offers with the corresponding parameters.

buyAllAmount()

     function buyAllAmount(
        ERC20 buy_gem,
        uint256 buy_amt,
        ERC20 pay_gem,
        uint256 max_fill_amount
    ) external returns (uint256 fill_amt)

Attempts to trade buy_amt quantity of buy_gem tokens for at most the max_fill_amount quantity of pay_gem tokens. Transaction will revert if the trader would spend more than the specified maximum amount. This is a "Fill-or-Kill" buy order.

sellAllAmount()

     function sellAllAmount(
        ERC20 pay_gem,
        uint256 pay_amt,
        ERC20 buy_gem,
        uint256 min_fill_amount
    ) external returns (uint256 fill_amt)

Attempts to trade pay_amt quantity of pay_gem tokens for at least the min_fill_amount quantity of buy_gem tokens. Transaction will revert if the trader would receive less than the specified minimum amount. This is a "Fill-or-Kill" sell order.

View Functions

Use these view functions to read the state of the order book contract. RubiconRouter.sol also has many helpful view functions for reading the state of RubiconMarket.sol.

getBuyAmountWithFee()

    function getBuyAmountWithFee(
        IERC20 buy_gem,
        IERC20 pay_gem,
        uint256 pay_amt
    ) external view returns (uint256 buy_amt, uint256 approvalAmount)

Returns buy_amt, amount of buy_gem tokens to send to the contract to receive the pay_amt amount of the pay_gem token. Also returns approvalAmount, the amount of pay_gem tokens to approve for the interaction, accounting for fees.

getPayAmountWithFee()

    function getPayAmountWithFee(
        IERC20 pay_gem,
        IERC20 buy_gem,
        uint256 buy_amt
    ) public view returns (uint256 pay_amt, uint256 approvalAmount)

Returns pay_amt, the amount of pay_gem tokens to send to the contract to receive the buy_amt amount of the buy_gem token. Also returns approvalAmount, the amount of buy_gem tokens to approve for the interaction, accounting for fees.

getBuyAmount()

    function getBuyAmount(
        ERC20 buy_gem,
        ERC20 pay_gem,
        uint256 pay_amt
    ) external view returns (uint256 fill_amt)

Returns the amount of buy_gem tokens received if a specified amount of pay_gem tokens are spent.

getPayAmount()

function getPayAmount(
        ERC20 pay_gem,
        ERC20 buy_gem,
        uint256 buy_amt
    ) external view returns (uint256 fill_amt)

Returns the amount of pay_gem tokens needed to buy a specified amount of buy_gem tokens.

getBestOffer()

function getBestOffer(ERC20 pay_gem, ERC20 buy_gem)
    public
    view
    returns (uint256)

Returns the ID of the offer at the top of the order book.

Ex. Calling this function with WETH as pay_gem and USDC as buy_gem will return the best ask on WETH/USDC. Switching the tokens will return the best bid.

getWorseOffer()

function getWorseOffer(uint256 id)
    public
    view
    returns (uint256)

Returns the next worse offer in the sorted list. The worse offer is the higher one if the target order is an ask, and a lower one if it's a bid. In both cases, it will return a newer one if they are equal.

getOfferCount()

function getOfferCount(ERC20 sell_gem, ERC20 buy_gem)
        public
        view
        returns (uint256)

Returns the number of offers in the order book for a specified pair.

protocolFee()

    function protocolFee() 
        public
        view 
        returns (uint256)

Returns the current protocol fee. Return value is an integer at this precision (1 / 100,000 or 0.001%).

makerFee()

function makerFee() 
    public 
    view 
    returns (uint256)

Returns the current maker fee. Return value is an integer at this precision (1 / 100,000 or 0.001%).

Events

event emitOffer(
        bytes32 indexed id,
        bytes32 indexed pair,
        address indexed maker,
        ERC20 pay_gem,
        ERC20 buy_gem,
        uint128 pay_amt,
        uint128 buy_amt
 
    );

    event emitCancel(
        bytes32 indexed id,
        bytes32 indexed pair,
        address indexed maker,
        ERC20 pay_gem,
        ERC20 buy_gem,
        uint128 pay_amt,
        uint128 buy_amt
    );

    event emitTake(
        bytes32 indexed id,
        bytes32 indexed pair,
        address indexed taker,
        address maker,
        ERC20 pay_gem,
        ERC20 buy_gem,
        uint128 take_amt,
        uint128 give_amt
    );

    event emitFee(
        bytes32 indexed id,
        address indexed taker,
        address indexed feeTo,
        bytes32 pair,
        ERC20 asset,
        uint256 feeAmt
    );

    event emitDelete(
        bytes32 indexed id,
        bytes32 indexed pair,
        address indexed maker
    );