Spiko Contracts

Welcome to the Spiko Contracts repository. Here you'll find the smart contracts powering Spiko's tokenization of securities on public blockchains. These contracts are the backbone of the first fully-licensed money market funds in the EU issued on-chain:

• Spiko US T-Bills Money Market Fund (USTBL)
• Spiko EU T-Bills Money Market Fund (EUTBL)

If you're eager to dive deeper into Spiko, explore our website, and stay updated with our blog. Do not hesitate to reach out!

Overview

The token contrat is an UUPS-upgradeable ERC-20 token leveraging OpenZeppelin's contracts. It is also ERC-1363 compliant and support both ERC-2612 (ERC-20 Permit Extension) and ERC-2771 (Meta Transactions). The redemption contract allows for token holders to redeem their fund shares. The oracle contract implements Chainlink's AggregatorV3Interface. A Permission Manager governs all the privileged functions of these contracts.

If you are curious about our design choices for these contracts, we'll write an article on our blog soon on the topic.

Third-party audit

This repository has undergone an audit conducted by security firm Trail of Bits. Their audit report is available here.

Prerequisites

• Node LTS (20)
• PNPM

Installation

• Install dependencies

pnpm install

• Compile

pnpm compile

Run test

pnpm test

Deployment

• Create an .env file in the root directory with the following variables:

# Compilation
COMPILER=0.8.27
EVM_VERSION=cancun
MODE=production

# Migration
DEBUG=migration
PRIVATE_KEY=
MAINNET_NODE=
SEPOLIA_NODE=
ARBITRUM_ONE_NODE=
ETHERSCAN=

Notes:

• PRIVATE_KEY must be given without the 0x prefix. The config parser coerces 0x-prefixed hex to a number and hardhat then rejects it (Invalid account: Expected string, received number).

• ETHERSCAN is an Etherscan V2 multichain key and covers every chain listed in hardhat.config.js.

• A network only exists if its <NETWORK>_NODE variable is set (for example ARBITRUM_ONE_NODE for arbitrumOne, BASE_NODE for base).

• Never set FORCE: it clears the deployment cache and redeploys every contract.

• Add custom addresses in scripts/config-default.json for the different permission groups

• Deploy

pnpm hardhat run scripts/migrate.js --network <sepolia or polygonAmoy>

scripts/migrate.js deploys the full stack from scripts/config-default.json and then writes permissions as the deployer. It only reads config-default.json (the config-<chainId>.json files are not loaded) and the permission writes require the deployer to be admin. It is therefore only suitable for a fresh deployment on a new network. To add one contract to an existing network, follow the next section.

Deploying a single contract to an existing network

This example adds the Archiver on Arbitrum One (chain id 42161). The same steps apply to any network and any PermissionManaged UUPS contract.

1. Look up the PermissionManager address in .cache-<chainId>.json under manager.address. On Arbitrum One it is 0xa925C217e4c1C82Ee721eBD496d3863D5C2d829A.

2. Deploy the proxy from the hardhat console. args is empty because Archiver has no initializer; constructorArgs feeds constructor(IAuthority).

pnpm hardhat console --network arbitrumOne

const managerAddress = '0xa925C217e4c1C82Ee721eBD496d3863D5C2d829A';
const factory = await ethers.getContractFactory('Archiver');
const archiver = await upgrades.deployProxy(factory, [], { kind: 'uups', constructorArgs: [managerAddress] });
await archiver.waitForDeployment();

archiver.target; // proxy address
archiver.deploymentTransaction().hash; // deployment tx hash
await upgrades.erc1967.getImplementationAddress(archiver.target); // implementation address

3. Record the deployment in .cache-<chainId>.json, next to the existing entries:

"archiver": {
  "txHash": "<deployment tx hash>",
  "address": "<proxy address>"
}

The OpenZeppelin plugin has already added the proxy and implementation to .openzeppelin/<network>.json. Commit both files.

4. Grant the permission from the admin Safe. setRequirements is admin-only and the deployer renounced admin at the end of the initial migration. Build the calldata in the same console:

const manager = await ethers.getContractAt('PermissionManager', managerAddress);
const selector = archiver.interface.getFunction('archiveEvent').selector; // 0x95499796
const config = require('./scripts/config-42161.json');
const groupId = Object.keys(config.roles).indexOf('archiver'); // 11
manager.interface.encodeFunctionData('setRequirements', [archiver.target, [selector], [groupId]]);

Execute the resulting calldata against the PermissionManager from the Safe, or use the Safe Transaction Builder with setRequirements(address,bytes4[],uint8[]) and the three values above. The group id is the position of the role in roles of the config file; admin is 0.

Members are added afterwards with addGroup(<address>, <groupId>), also from the Safe. Until then only the admin can call archiveEvent.

5. Verify the implementation on the explorer (the implementation address, not the proxy):

pnpm hardhat verify --network arbitrumOne <implementation address> 0xa925C217e4c1C82Ee721eBD496d3863D5C2d829A

6. Read back on-chain:

await archiver.supportsInterface('0x95499796'); // true
await manager.getRequirements(archiver.target, '0x95499796'); // bits 0 and 11 set once the Safe tx has landed

Verification

• Verify contracts and publish source code on Etherscan

pnpm hardhat verify --network <sepolia or polygonAmoy> <proxy address of the smart contracts to be verified> <for all contracts except PermissionManager, address of the PermissionManager> <address of the Forwarder>

Note: if verification is failing with following error:

Failed to link proxy 0xD427D8a70945B0d4304A2B1E40Ea2A23356A5A09 with its implementation. Reason: The implementation contract at 0x5404947eee032813092f4551a0fe367bc621e8c1 does not seem to be verified. Please verify and publish the contract source before proceeding with this proxy verification.

You could refer to https://mumbai.polygonscan.com/proxyContractChecker