SlpManagerRouter

Router contract for easy liquidity provision with native ETH support

SlpManagerRouter

The SlpManagerRouter is a convenience contract that simplifies the process of providing liquidity to the Satoshi Perps protocol. It handles ETH wrapping/unwrapping and token routing to make liquidity provision more user-friendly.

Contract Overview

The SlpManagerRouter handles:

• Adding liquidity to the protocol using ETH
• Adding liquidity using ERC20 tokens
• Removing liquidity with option to receive ETH
• Routing liquidity operations to the SlpManager

The SlpManagerRouter primarily serves as a user-friendly interface on top of the SlpManager contract.

Key Functions

Adding Liquidity

function addLiquidity(
    address _token,
    uint256 _amount,
    uint256 _minSlp,
    uint256 _minToken
) external returns (uint256);

Adds liquidity using an ERC20 token and returns SLP tokens.

function addLiquidityETH(
    uint256 _minSlp,
    uint256 _minToken
) external payable returns (uint256);

Adds liquidity using ETH, which is automatically wrapped to WETH before being sent to the SlpManager.

Removing Liquidity

function removeLiquidity(
    address _tokenOut,
    uint256 _slpAmount,
    uint256 _minOut,
    address _receiver
) external returns (uint256);

Burns SLP tokens and returns the underlying token to the specified receiver.

function removeLiquidityETH(
    uint256 _slpAmount,
    uint256 _minOut,
    address payable _receiver
) external returns (uint256);

Burns SLP tokens and returns ETH (unwrapped from WETH) to the specified receiver.

ETH Handling

The SlpManagerRouter automatically handles the conversion between ETH and WETH:

1. When a user calls addLiquidityETH(), the router:

   • Receives the ETH
   • Wraps it to WETH using the WETH contract’s deposit() function
   • Approves the SlpManager to use the WETH
   • Calls the SlpManager’s addLiquidity() function

2. When a user calls removeLiquidityETH(), the router:

   • Calls the SlpManager’s removeLiquidity() function to get WETH
   • Unwraps the WETH to ETH using the WETH contract’s withdraw() function
   • Transfers the ETH to the user’s specified receiver address

Integration with SlpManager

The SlpManagerRouter works as a thin wrapper around the SlpManager:

Security Considerations

The SlpManagerRouter implements several security features:

• Slippage Protection: Uses minimum output parameters to protect users
• Direct Transfers: Transfers tokens directly to the specified receiver
• Reentrancy Prevention: Follows checks-effects-interactions pattern
• Access Control: Only allows authorized operations

While the SlpManagerRouter handles ETH conversions, all the core liquidity logic remains in the SlpManager contract.

Example Usage

1. Adding Liquidity with ETH

   A user wants to provide 5 ETH as liquidity to the protocol.

   const ethAmount = ethers.utils.parseEther("5");
   const minSlp = ethers.utils.parseEther("4.75"); // 5% slippage protection
   
   await slpManagerRouter.addLiquidityETH(
     minSlp, // Minimum SLP tokens to receive
     0, // Minimum token (not relevant for deposit)
     { value: ethAmount } // 5 ETH
   );
   
2. Removing Liquidity to ETH

   Later, the user wants to withdraw their liquidity and receive ETH.

   const slpAmount = await slpToken.balanceOf(userAddress);
   const minEthOut = ethers.utils.parseEther("4.75"); // 5% slippage protection
   
   await slpManagerRouter.removeLiquidityETH(
     slpAmount, // SLP amount to burn
     minEthOut, // Minimum ETH to receive
     userAddress // Receiver address
   );
   

Benefits of Using the Router

Using the SlpManagerRouter provides several benefits over interacting directly with the SlpManager:

1. Simplified UX: Users can interact using native ETH without manually wrapping/unwrapping
2. Gas Efficiency: Combines multiple transactions into a single operation
3. Easier Integration: Frontends and dApps can provide a more streamlined experience

When using the router, be aware that the actual liquidity operations are still subject to the rules of the SlpManager, including any cooldown periods for withdrawals.