RewardDistributor

Inherits: IRewardDistributor, ReentrancyGuard

Title: RewardDistributor

Distributes staking rewards based on price discrepancy between oracle and Curve EMA.

Receives USDC from SyntheticSplitter.harvestYield() and allocates to StakedToken vaults proportionally based on which token is underperforming relative to theoretical price.

State Variables

DISCREPANCY_THRESHOLD_BPS

Discrepancy threshold for 100% allocation (2% = 200 bps).

uint256 public constant DISCREPANCY_THRESHOLD_BPS = 200

MIN_DISTRIBUTION_INTERVAL

Minimum time between distributions (1 hour).

uint256 public constant MIN_DISTRIBUTION_INTERVAL = 1 hours

CALLER_REWARD_BPS

Reward for calling distributeRewards (0.1% = 10 bps).

uint256 public constant CALLER_REWARD_BPS = 10

USDC_INDEX

USDC index in Curve pool.

uint256 public constant USDC_INDEX = 0

PLDXY_BEAR_INDEX

plDXY-BEAR index in Curve pool.

uint256 public constant PLDXY_BEAR_INDEX = 1

MAX_SWAP_SLIPPAGE_BPS

Maximum slippage for Curve swaps (1% = 100 bps).

uint256 public constant MAX_SWAP_SLIPPAGE_BPS = 100

SPLITTER

SyntheticSplitter contract.

ISyntheticSplitter public immutable SPLITTER

USDC

USDC stablecoin.

IERC20 public immutable USDC

PLDXY_BEAR

plDXY-BEAR token.

IERC20 public immutable PLDXY_BEAR

PLDXY_BULL

plDXY-BULL token.

IERC20 public immutable PLDXY_BULL

STAKED_BEAR

Staked plDXY-BEAR vault.

StakedToken public immutable STAKED_BEAR

STAKED_BULL

Staked plDXY-BULL vault.

StakedToken public immutable STAKED_BULL

CURVE_POOL

Curve USDC/plDXY-BEAR pool.

ICurvePool public immutable CURVE_POOL

ZAP_ROUTER

ZapRouter for acquiring plDXY-BULL.

ZapRouter public immutable ZAP_ROUTER

ORACLE

BasketOracle for theoretical price.

AggregatorV3Interface public immutable ORACLE

CAP

Protocol CAP price (8 decimals).

uint256 public immutable CAP

lastDistributionTime

Timestamp of last distribution.

uint256 public lastDistributionTime

Functions

constructor

Deploys RewardDistributor with all required dependencies.

constructor(
    address _splitter,
    address _usdc,
    address _plDxyBear,
    address _plDxyBull,
    address _stakedBear,
    address _stakedBull,
    address _curvePool,
    address _zapRouter,
    address _oracle
) ;

Parameters

Name	Type	Description
`_splitter`	`address`	SyntheticSplitter contract address.
`_usdc`	`address`	USDC token address.
`_plDxyBear`	`address`	plDXY-BEAR token address.
`_plDxyBull`	`address`	plDXY-BULL token address.
`_stakedBear`	`address`	StakedToken vault for BEAR.
`_stakedBull`	`address`	StakedToken vault for BULL.
`_curvePool`	`address`	Curve USDC/plDXY-BEAR pool.
`_zapRouter`	`address`	ZapRouter for BULL acquisition.
`_oracle`	`address`	BasketOracle for price data.

distributeRewards

Permissionless function to distribute accumulated USDC rewards.

Calculates price discrepancy, acquires tokens, and donates to vaults.

function distributeRewards() external nonReentrant returns (uint256 callerReward);

Returns

Name	Type	Description
`callerReward`	`uint256`	Amount of USDC sent to caller as incentive.

previewDistribution

Preview the distribution without executing.

function previewDistribution()
    external
    view
    returns (uint256 bearPct, uint256 bullPct, uint256 usdcBalance, uint256 callerReward);

Returns

Name	Type	Description
`bearPct`	`uint256`	Expected percentage to BEAR stakers (basis points).
`bullPct`	`uint256`	Expected percentage to BULL stakers (basis points).
`usdcBalance`	`uint256`	Current USDC balance available for distribution.
`callerReward`	`uint256`	Expected caller reward.

_calculateSplit

Calculates reward split based on price discrepancy.

function _calculateSplit() internal view returns (uint256 bearPct, uint256 bullPct);

Returns

Name	Type	Description
`bearPct`	`uint256`	Percentage for BEAR stakers (basis points).
`bullPct`	`uint256`	Percentage for BULL stakers (basis points).

_acquireTokens

Acquires tokens using optimal combination of minting and swapping/zapping.

function _acquireTokens(
    uint256 totalUsdc,
    uint256 bearPct,
    uint256 bullPct
) internal returns (uint256 bearAmount, uint256 bullAmount);

Parameters

Name	Type	Description
`totalUsdc`	`uint256`	Total USDC to convert to tokens.
`bearPct`	`uint256`	Target BEAR percentage (basis points).
`bullPct`	`uint256`	Target BULL percentage (basis points).

Returns

Name	Type	Description
`bearAmount`	`uint256`	Amount of plDXY-BEAR acquired.
`bullAmount`	`uint256`	Amount of plDXY-BULL acquired.

_calculateMintAmount

Converts USDC amount to 18-decimal mint amount.

function _calculateMintAmount(
    uint256 usdcAmount
) internal view returns (uint256 mintAmount);

Parameters

Name	Type	Description
`usdcAmount`	`uint256`	USDC amount (6 decimals).

Returns

Name	Type	Description
`mintAmount`	`uint256`	Token amount to mint (18 decimals).

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