Pledge
The Pledge Facet manages pledge collateral — a separate collateral pool that PartyBs deposit as a guarantee of good behavior. Pledge collateral is independent of the trading collateral used for positions and serves as a "skin in the game" mechanism. If a PartyB acts maliciously (e.g., abuses the Auto Deleveraging system by closing positions at unfair prices), their pledge can be slashed by an admin. The underlying logic is implemented in the PledgeFacetImpl library.
Pledge collateral is primarily used as a penalty mechanism for ADL (Auto-Deleveraging). Before enabling ADL for a PartyB via ControlFacet.setADLEnabled, they should have deposited sufficient pledge collateral. This ensures PartyBs are incentivized to use ADL fairly.
Overview
The Pledge Facet provides the following key functionalities:
Deposit Pledge: PartyB deposits pledge collateral in any ERC-20 token.
Request Pledge Withdrawal: PartyB requests to withdraw pledge collateral, subject to admin approval.
Cancel Pledge Withdrawal: PartyB cancels a pending withdrawal request.
Accept Pledge Withdrawal: Admin approves a pending withdrawal, transferring funds to the requested recipient.
Slash Pledge: Admin deducts pledge collateral as a penalty and redirects it to a specified recipient.
depositPledge()
Deposits pledge collateral for the caller. Any ERC-20 token can be used. Amounts are in the token's native decimals (not normalized to 18 decimals).
Function Signature:
function depositPledge(address token, uint256 amount) external whenNotAccountingPaused notSuspended(signer);Parameters:
token: The ERC-20 token address to deposit.amount: The amount to deposit (in the token's native decimals).
Events Emitted:
PledgeCollateralDeposited(address partyB, address token, uint256 amount)
requestPledgeWithdraw()
Requests withdrawal of pledge collateral to a specified recipient. The withdrawal is not immediate — it requires admin approval via acceptPledgeWithdraw. This two-step flow prevents PartyBs from quickly withdrawing pledge before a slashing can be applied.
Only one withdrawal request can be pending at a time per PartyB.
Function Signature:
Parameters:
token: The ERC-20 token to withdraw.amount: The amount to withdraw (in the token's native decimals).recipient: The address that will receive the funds if the withdrawal is approved.
Events Emitted:
PledgeWithdrawRequested(address partyB, address token, uint256 amount, address recipient)
cancelPledgeWithdraw()
Cancels a pending pledge withdrawal request.
Function Signature:
Events Emitted:
PledgeWithdrawCancelled(address partyB, address token, uint256 amount)
acceptPledgeWithdraw()
Approves a pending pledge withdrawal and transfers the funds to the recipient specified in the original request.
Function Signature:
Parameters:
user: The PartyB whose withdrawal request is being approved.amount: The amount to withdraw (must match the request).token: The ERC-20 token to withdraw (must match the request).
Access: Requires PARTY_B_MANAGER_ROLE.
Events Emitted:
PledgeWithdrawApproved(address partyB, address token, uint256 amount)
slashPledge()
Slashes a PartyB's pledge collateral as a penalty and transfers the deducted amount to a specified recipient. This is used when a PartyB misbehaves — for example, by abusing ADL to close positions at prices that unfairly harm PartyA.
Function Signature:
Parameters:
user: The PartyB being penalized.token: The ERC-20 token to deduct.amount: The penalty amount (in the token's native decimals).recipient: The address receiving the penalty funds.
Access: Requires PARTY_B_MANAGER_ROLE.
Events Emitted:
UserSlashed(address partyB, address token, uint256 amount, address recipient)
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