Scripts and README

README.md

@@ -0,0 +1,73 @@
+# Yield Controller
+
+The Sunrise Stake Yield Controller is a suite of Solana programs that control
+the distribution of staking yield from the Sunrise Stake program to climate projects.
+
+The current yield distribution mechanism of Sunrise buys and retires 
+[Toucan NCT carbon tokens](https://blog.toucan.earth/announcing-nct-nature-carbon-tonne/),
+however the target model is to diversify the yield distribution to a range of climate
+projects, controlled by a DAO.
+
+## History
+
+### 1. Initial release - Toucan NCT Buy-Burn-Fixxed
+
+The initial version of the Sunrise Yield Controller used the Buy-Burn-Fixed strategy to
+distribute yield. This strategy was implemented in the `buy-burn-fixed` package.
+
+The `buy_burn_fixed` strategy bought Toucan NCT tokens at a fixed price and burned them. 
+The Toucan NCT tokens were bridged from Polygon manually via [Wormhole](https://wormhole.com/) and
+stored in a PDA owned by the program.
+
+The price of NCT was manually updated periodically by a Sunrise administrator in order to ensure
+a fair price was paid by Sunrise for the Toucan NCT tokens.
+
+This had a number of downsides:
+- The price of NCT was manually updated, which was a centralised process.
+- NCT had to be manually bridged from Polygon to Solana, also a centralised process.
+- Bridged NCT was burned, rather than retired via Toucan, which reduced the transparency of the process, and
+  meant that the off-chain registries could not be updated.
+- Yield distribution was limited to Toucan NCT tokens.
+
+### 2. Toucan NCT Buy-Burn-Switchboard
+
+The second version used a price oracle set up on [Switchboard](https://switchboard.xyz/) to 
+determine the correct NCT price. This reduced the ability of administrators to control the price, but
+did not affect the other downsides of release 1.
+
+### 3. Offset Bridge
+
+The third version of the yield controller replaced the buy-burn mechanism for a bridge-buy-retire mechanism
+called the Offset Bridge.
+
+Rather than manually bridging NCT to Solana, and having the yield controller buy and burn it, instead
+a new system - the [offset bridge](https://github.com/sunrise-stake/offset-bridge) - was set up to
+bridge funds to Polygon, store them in a smart contract wallet, and automatically retire them via Toucan.
+
+This ensured that NCT was correctly converted to tCO2 tokens and retired against the Toucan registry,
+while ensuring the funds remained in control of the protocol (not touching EOA wallets), but nonetheless
+had a number of "crank" steps that, while permissionless, still needed manual involvement to perform.
+
+Details of the Offset Bridge can be found in the [Offset Bridge README](https://github.com/sunrise-stake/offset-bridge/blob/main/README.md).
+
+At present, this is the current mechanism for yield distribution in Sunrise.
+It uses the "Yield Router" program to route yield from the Sunrise Stake program to the Offset Bridge.
+
+### 4. (Planned) Diversified Yield Router
+
+The current implementation of the yield controller sends all funds from the Sunrise program directly to
+a PDA owned by the Offset Bridge using the Yield Router, however the Yield Router only has one destination,
+the offset bridge.
+
+The next step will be to adapt the router to support additional distribution of yield to a range of
+climate projects, rather than just NCT.
+
+The architecture is as follows:
+- Sunrise Stake program sends yield to a PDA owned by the Yield Router program (as at present).
+- Yield Router owns a [State account](https://solscan.io/account/6Uad9j9DpKE9Jhebb5T3vWNWuCYTP7XxG6LJBPaqJB31),
+  which contains a list of destinations and their allocation percentage
+- The Yield Router `allocate_yield` instruction shares yield across the destinations according to their
+  allocation percentage.
+- Each destination is expected to be a PDA that then distributes the yield to the climate project
+  according to their own rules. For example, the Offset Bridge bridges the funds to Polygon, buys
+  NCT etc.

packages/yield-router/client/index.ts

@@ -58,6 +58,10 @@ export interface YieldRouterConfig {
   spendThreshold: BN;
 }
 
+type InitialisedClient = YieldRouterClient & {
+    config: YieldRouterConfig;
+}
+
 export class YieldRouterClient {
   config: YieldRouterConfig | undefined;
   readonly program: Program<YieldRouter>;
@@ -80,7 +84,7 @@ export class YieldRouterClient {
     };
   }
 
-  public static getState(sunriseState: PublicKey): PublicKey {
+  public static getStateAddressFromSunriseAddress(sunriseState: PublicKey): PublicKey {
     const [state] = PublicKey.findProgramAddressSync(
       [Buffer.from("state"), sunriseState.toBuffer()],
       PROGRAM_ID
@@ -96,13 +100,17 @@ export class YieldRouterClient {
   public static async fetch(
     stateAddress: PublicKey,
     provider?: AnchorProvider
-  ): Promise<YieldRouterClient> {
+  ): Promise<InitialisedClient> {
     const client = new YieldRouterClient(
       provider ?? setUpAnchor(),
       stateAddress
     );
     await client.init();
-    return client;
+
+    if (!client.config) {
+        throw new Error("Could not fetch client");
+    }
+    return client as InitialisedClient;
   }
 
   public static async register(
@@ -111,9 +119,9 @@ export class YieldRouterClient {
     outputYieldAccounts: PublicKey[],
     spendProportions: number[],
     spendThreshold: BN
-  ): Promise<YieldRouterClient> {
+  ): Promise<InitialisedClient> {
     // find state address
-    const stateAddress = await YieldRouterClient.getState(sunriseState);
+    const stateAddress = await YieldRouterClient.getStateAddressFromSunriseAddress(sunriseState);
     const inputYieldAccount = getInputYieldAccountForState(stateAddress);
 
     const client = new YieldRouterClient(setUpAnchor(), stateAddress);
@@ -142,24 +150,27 @@ export class YieldRouterClient {
 
     await client.init();
 
-    return client;
+    return client as InitialisedClient;
   }
 
   public async updateOutputYieldAccounts(
     outputYieldAccounts: PublicKey[],
     spendProportions: number[]
   ): Promise<YieldRouterClient> {
+    if (!this.config) {
+        throw new Error("Client not initialized");
+    }
     const accounts = {
       payer: this.provider.wallet.publicKey,
       state: this.stateAddress,
       systemProgram: SystemProgram.programId,
     };
 
     const args = {
-      updateAuthority: this.config?.updateAuthority,
+      updateAuthority: this.config.updateAuthority,
       outputYieldAccounts,
       spendProportions: Buffer.from(spendProportions),
-      spendThreshold: this.config?.spendThreshold,
+      spendThreshold: this.config.spendThreshold,
     };
     await this.program.methods
       .updateState(args)

packages/yield-router/scripts/allocateYield.ts

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+import { YieldRouterClient } from "../client";
+import { logBalance } from "./lib/util";
+import { PublicKey } from "@solana/web3.js";
+import BN from "bn.js";
+
+// mainnet Sunrise
+const defaultSunriseStateAddress = "43m66crxGfXSJpmx5wXRoFuHubhHA1GCvtHgmHW6cM1P";
+const sunriseStateAddress = new PublicKey(
+    process.env.STATE_ADDRESS ?? defaultSunriseStateAddress
+);
+
+if (!process.env.AMOUNT) {
+  throw new Error("AMOUNT env variable must be set");
+}
+const amount = parseInt(process.env.AMOUNT, 10);
+
+(async () => {
+  const stateAddress = YieldRouterClient.getStateAddressFromSunriseAddress(sunriseStateAddress);
+  const client = await YieldRouterClient.fetch(stateAddress);
+
+  const log = logBalance(client)
+
+  console.log("state address", stateAddress.toBase58());
+  console.log("state account data", client.config);
+  console.log("input yield token address", client.getInputYieldAccount().toBase58());
+
+    await log("input yield token", client.getInputYieldAccount());
+
+    for (const outputYieldAccount of client.config.outputYieldAccounts) {
+        await log("output yield token", outputYieldAccount);
+    }
+
+  console.log("Allocating yield...");
+    await client.allocateYield(new BN(amount));
+
+  await log("input yield token", client.getInputYieldAccount());
+
+  for (const outputYieldAccount of client.config.outputYieldAccounts) {
+    await log("output yield token", outputYieldAccount);
+  }
+
+
+
+})().catch(console.error);

packages/yield-router/scripts/getState.ts

@@ -0,0 +1,26 @@
+import "./lib/util";
+import {logBalance} from "./lib/util";
+import { YieldRouterClient } from "../client";
+import { PublicKey } from "@solana/web3.js";
+
+// mainnet Sunrise
+const defaultSunriseStateAddress = "43m66crxGfXSJpmx5wXRoFuHubhHA1GCvtHgmHW6cM1P";
+const sunriseStateAddress = new PublicKey(
+  process.env.STATE_ADDRESS ?? defaultSunriseStateAddress
+);
+
+(async () => {
+  const stateAddress = YieldRouterClient.getStateAddressFromSunriseAddress(sunriseStateAddress);
+  const client = await YieldRouterClient.fetch(stateAddress);
+  const log = logBalance(client)
+
+  console.log("state address", stateAddress.toBase58());
+  console.log("state account data", client.config);
+  console.log("input yield token address", client.getInputYieldAccount().toBase58());
+
+  await log("input yield token", client.getInputYieldAccount());
+
+  for (const outputYieldAccount of client.config.outputYieldAccounts) {
+    await log("output yield token", outputYieldAccount);
+  }
+})().catch(console.error);

packages/yield-router/scripts/lib/util.ts

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+import os from "os";
+import { PublicKey, Cluster, clusterApiUrl } from "@solana/web3.js";
+import {YieldRouterClient} from "../../client";
+
+export const idWallet = os.homedir() + "/.config/solana/id.json";
+
+process.env.ANCHOR_PROVIDER_URL =
+    process.env.ANCHOR_PROVIDER_URL ?? clusterApiUrl((process.env.REACT_APP_SOLANA_NETWORK  || 'devnet') as Cluster);
+process.env.ANCHOR_WALLET = process.env.ANCHOR_WALLET ?? idWallet;
+
+export const logBalance = (client: YieldRouterClient) => async (prefix: string, account: PublicKey) => {
+    const accountInfo = await client.provider.connection.getAccountInfo(account);
+    console.log(`${prefix} balance`, accountInfo?.lamports);
+}

packages/yield-router/scripts/registerState.ts

@@ -0,0 +1,28 @@
+import { YieldRouterClient } from "../client";
+import {Keypair, PublicKey} from "@solana/web3.js";
+import BN from "bn.js";
+
+// mainnet Sunrise
+const defaultSunriseStateAddress = "43m66crxGfXSJpmx5wXRoFuHubhHA1GCvtHgmHW6cM1P";
+const sunriseStateAddress = new PublicKey(
+    process.env.STATE_ADDRESS ?? defaultSunriseStateAddress
+);
+
+// mainnet offset bridge wrapped SOL ATA
+const defaultOutputYieldAddress = "4XTLzYF3kteTbb3a9NYYjeDAYwNoEGSkjoqJYkiLCnmm";
+const outputYieldAddress = new PublicKey(
+    process.env.OUTPUT_YIELD_ADDRESS ?? defaultOutputYieldAddress
+);
+
+const anchorWallet = Keypair.fromSecretKey(Buffer.from(require(process.env.ANCHOR_WALLET as string)));
+
+(async () => {
+  const state = await YieldRouterClient.register(
+      sunriseStateAddress,
+      anchorWallet.publicKey,
+      [outputYieldAddress],
+      [100],
+      new BN(100)
+  );
+  console.log("state account data", state.config);
+})().catch(console.error);

packages/yield-router/scripts/setDelegate.ts

@@ -0,0 +1,40 @@
+import {
+  approveChecked,
+  getAssociatedTokenAddressSync,
+} from "@solana/spl-token";
+import { setUpAnchor } from "../client";
+import { PublicKey } from "@solana/web3.js";
+import NodeWallet from "@coral-xyz/anchor/dist/cjs/nodewallet";
+
+const defaultMint = "tnct1RC5jg94CJLpiTZc2A2d98MP1Civjh7o6ShmTP6";
+const mint = new PublicKey(process.env.MINT ?? defaultMint);
+
+const defaultStateAddress = "CaFanGeqN6ykNTGTE7U2StJ8n1RJY6on6FoDFeLxabia";
+const stateAddress = new PublicKey(
+  process.env.STATE_ADDRESS ?? defaultStateAddress
+);
+
+const defaultHoldingAccount = "A4c5nctuNSN7jTsjDahv6bAWthmUzmXi3yBocvLYM4Bz";
+const holdingAccount = new PublicKey(
+  process.env.HOLDING_ACCOUNT ?? defaultHoldingAccount
+);
+
+(async () => {
+  const provider = setUpAnchor();
+  const holdingTokenAccount = getAssociatedTokenAddressSync(
+    mint,
+    holdingAccount,
+    true
+  );
+
+  await approveChecked(
+    provider.connection,
+    (provider.wallet as NodeWallet).payer,
+    mint,
+    holdingTokenAccount,
+    stateAddress,
+    holdingAccount,
+    10000 * 10 ** 9,
+    9
+  );
+})().catch(console.error);

packages/yield-router/scripts/updateState.ts

@@ -0,0 +1,57 @@
+import { BuyBurnFixedClient } from "../client";
+import * as anchor from "@coral-xyz/anchor";
+import { PublicKey } from "@solana/web3.js";
+import { getAssociatedTokenAddressSync } from "@solana/spl-token";
+
+/** Adjust these values to whatever you want them to be */
+const PRICE = 1;
+const PURCHASE_THRESHOLD = 100;
+const PURCHASE_PROPORTION = 0;
+
+const defaultTreasuryKey = "ALhQPLkXvbLKsH5Bm9TC3CTabKFSmnXFmzjqpTXYBPpu";
+const treasuryKey = new PublicKey(
+  process.env.TREASURY_KEY ?? defaultTreasuryKey
+);
+
+const defaultAuthority = "5HnwQGT79JypiAdjdjsXEn1EMD2AsRVVubqDyWfyWXRv";
+const authorityKey = new PublicKey(
+  process.env.AUTHORITY_KEY ?? defaultAuthority
+);
+
+// used in devnet
+const defaultMint = "tnct1RC5jg94CJLpiTZc2A2d98MP1Civjh7o6ShmTP6";
+const mint = new PublicKey(process.env.MINT ?? defaultMint);
+
+const defaultHoldingAccount = "A4c5nctuNSN7jTsjDahv6bAWthmUzmXi3yBocvLYM4Bz";
+const holdingAccount = new PublicKey(
+  process.env.HOLDING_ACCOUNT ?? defaultHoldingAccount
+);
+
+// used for devnet testing
+const defaultStateAddress = "9QxfwoxkgxE94uoHd3ZPFLmfNhewoFe3Xg5gwgtShYnn";
+const stateAddress = new PublicKey(
+  process.env.STATE_ADDRESS ?? defaultStateAddress
+);
+
+(async () => {
+  // get token account account for holding account
+  const holdingAccountTokenAddress = getAssociatedTokenAddressSync(
+    mint,
+    holdingAccount,
+    true
+  );
+
+  const client = await BuyBurnFixedClient.updateController(
+    stateAddress,
+    authorityKey,
+    treasuryKey,
+    mint,
+    holdingAccount,
+    holdingAccountTokenAddress,
+    new anchor.BN(PRICE),
+    PURCHASE_PROPORTION,
+    new anchor.BN(PURCHASE_THRESHOLD)
+  );
+
+  console.log("updated state:", client.stateAddress);
+})().catch(console.error);