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swap.md

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description
Swap one asset (ASA or Algo) for another with the Pool.

Swap

Transaction Group

0. Pay - pay fees in Algo from Swapper to Pool

  • fees to cover Tx 1,2
  • Signed by Swapper
{
  "txn": {
    "type": "pay",
    "rcv": "{POOL_ADDRESS}",
    "snd": "{SWAPPER_ADDRESS",
    "amt": 2000,
    "fee": 1000,
    ...
  },
  "sig": "{SWAPPER_SIG}",
}
  1. App Call - NoOp call to Validator App with args ['swap', (fixed-input) or 'fo' (fixed-output)], with Swapper account
    • Signed by Pool LogicSig
    • Argument 1 'fi' specifies that the input (sell) is fixed but the output may vary with slippage
    • Argument 1 'fo' specifies that the output (buy) is fixed but the input may vary with slippage
{
  "txn": {
    "type": "appl",
    "snd": "{POOL_ADDRESS}",
    "apid": {VALIDATOR_APP_ID},
    "apan": 0, // OnComplete: NoOp
    "apaa": ['c3dhcA==', 'Zmk=' or 'Zm8='], // ['swap', 'fi' (fixed-input) or 'fo' (fixed-output)]
    "apas": [{ASSET1_ID}, {ASSET2_ID}, {LIQUIDITY_ASSET_ID}], // or just [{ASSET1_ID}, {LIQUIDITY_ASSET_ID}] if asset 2 is Algo
    "apat": [{SWAPPER_ADDRESS}],
    "fee": 1000,
    ...
  },
  "lsig": "{POOL_LOGICSIG}",
}

2. (a) AssetTransfer - Transfer of sell asset from Swapper to Pool

  • If sell asset is an ASA
  • Signed by Swapper
{
  "txn": {
    "type": "axfer",
    "arcv": "{POOL_ADDRESS}",
    "snd": "{SWAPPER_ADDRESS}",
    "xaid": {SELL_ASSET_ID},
    "aamt": {SELL_ASSET_AMOUNT},
    "fee": 1000,
    ...
  },
  "sig": "{SWAPPER_SIG}",
}

2. (b) Pay - Transfer of Algo from Swapper to Pool

  • If sell asset is Algo
  • Signed by Swapper
{
  "txn": {
    "type": "pay",
    "rcv": "{POOL_ADDRESS}",
    "snd": "{SWAPPER_ADDRESS}",
    "amt": {SELL_ASSET_AMOUNT},
    "fee": 1000,
    ...
  },
  "sig": "{SWAPPER_SIG}",
}

3. (a) AssetTransfer - Transfer of buy asset from Pool to Swapper

  • If buy asset is an ASA
  • Signed by Pool LogicSig
{
  "txn": {
    "type": "axfer",
    "arcv": "{SWAPPER_ADDRESS}",
    "snd": "{POOL_ADDRESS}",
    "xaid": {BUY_ASSET_ID},
    "aamt": {BUY_ASSET_AMOUNT},
    "fee": 1000,
    ...
  },
  "lsig": "{POOL_LOGICSIG}",
}

3. (b) Pay - Transfer of buy asset from Pool to Swapper

  • If buy asset is Algo
  • Signed by Pool LogicSig
{
  "txn": {
    "type": "pay",
    "rcv": "{SWAPPER_ADDRESS}",
    "snd": "{POOL_ADDRESS}",
    "amt": {BUY_ASSET_AMOUNT},
    "fee": 1000,
    ...
  },
  "lsig": "{POOL_LOGICSIG}",
}

Validator App State Changes

Global State

None

Pool Account Local State

  • o{ASSET1_ID}: {int} // total outstanding unredeemed asset 1 amount
  • o{ASSET2_ID}: {int} // total outstanding unredeemed asset 2 amount
  • p: {int} // total unclaimed protocol fees amount

Swapper Account Local State

  • {POOL_ADDRESS}e{ASSET1_ID}: {int} // excess asset 1 amount available for redemption
  • {POOL_ADDRESS}e{ASSET2_ID}: {int} // excess asset 2 amount available for redemption