InternalStatesOrchestrator

Contract that orchestrates internal state management

_This contract is responsible for:

Reading current vault states and market data;
Processing curator fees and high water mark;
Updating vault states;
Computing state estimations for Liquidity Orchestrator;
Trigger the Liquidity Orchestrator._

automationRegistry

address automationRegistry

Chainlink Automation Registry address

config

contract IOrionConfig config

Orion Config contract address

liquidityOrchestrator

contract ILiquidityOrchestrator liquidityOrchestrator

Liquidity Orchestrator contract

registry

contract IPriceAdapterRegistry registry

Price Adapter Registry contract

priceAdapterPrecision

uint256 priceAdapterPrecision

Price Adapter Precision

intentFactor

uint256 intentFactor

Intent factor for calculations

underlyingAsset

address underlyingAsset

Underlying asset address

underlyingDecimals

uint8 underlyingDecimals

Decimals of the underlying asset

vFeeCoefficient

uint16 vFeeCoefficient

Volume fee coefficient

rsFeeCoefficient

uint16 rsFeeCoefficient

Revenue share fee coefficient

pendingProtocolFees

uint256 pendingProtocolFees

Pending protocol fees [assets]

BASIS_POINTS_FACTOR

uint16 BASIS_POINTS_FACTOR

Basis points factor

EpochState

Struct to hold epoch state data

struct EpochState {
mapping(address => uint256) priceArray;
mapping(address => uint256) initialBatchPortfolio;
mapping(address => uint256) vaultsTotalAssets;
mapping(address => uint256) finalBatchPortfolio;
mapping(address => uint256) vaultsTotalAssetsForFulfillRedeem;
mapping(address => uint256) vaultsTotalAssetsForFulfillDeposit;
mapping(address => uint256) sellingOrders;
mapping(address => uint256) buyingOrders;
address[] tokens;
mapping(address => bool) tokenExists;
}

_currentEpoch

struct InternalStatesOrchestrator.EpochState _currentEpoch

Current epoch state

epochDuration

uint32 epochDuration

Epoch duration

epochCounter

uint16 epochCounter

Counter for tracking processing cycles

transparentMinibatchSize

uint8 transparentMinibatchSize

Transparent minibatch size

currentPhase

enum IInternalStateOrchestrator.InternalUpkeepPhase currentPhase

Upkeep phase

currentMinibatchIndex

uint8 currentMinibatchIndex

Current minibatch index

transparentVaultsEpoch

address[] transparentVaultsEpoch

Transparent vaults associated to the current epoch

bufferAmount

uint256 bufferAmount

Buffer amount [assets]

onlyAuthorizedTrigger

modifier onlyAuthorizedTrigger()

Restricts function to only owner or automation registry

onlyLiquidityOrchestrator

modifier onlyLiquidityOrchestrator()

Restricts function to only Liquidity Orchestrator

constructor

constructor(address initialOwner, address config_, address automationRegistry_) public

Constructor

Parameters

Name	Type	Description
initialOwner	address	The address of the initial owner
config_	address	The address of the OrionConfig contract
automationRegistry_	address	The address of the Chainlink Automation Registry

updateAutomationRegistry

function updateAutomationRegistry(address newAutomationRegistry) external

Updates the Chainlink Automation Registry address

Parameters

Name	Type	Description
newAutomationRegistry	address	The new automation registry address

updateEpochDuration

function updateEpochDuration(uint32 newEpochDuration) external

Updates the epoch duration

Parameters

Name	Type	Description
newEpochDuration	uint32	The new epoch duration in seconds

updateMinibatchSize

function updateMinibatchSize(uint8 _transparentMinibatchSize) external

Updates the minibatch sizes

Parameters

Name	Type	Description
_transparentMinibatchSize	uint8	The new transparent minibatch size

updateProtocolFees

function updateProtocolFees(uint16 _vFeeCoefficient, uint16 _rsFeeCoefficient) external

Updates the protocol fees

Parameters

Name	Type	Description
_vFeeCoefficient	uint16	The new volume fee coefficient
_rsFeeCoefficient	uint16	The new revenue share fee coefficient

checkUpkeep

function checkUpkeep(bytes) external view returns (bool upkeepNeeded, bytes performData)

Checks if upkeep is needed based on time interval

https://docs.chain.link/chainlink-automation/reference/automation-interfaces

Return Values

Name	Type	Description
upkeepNeeded	bool	True if upkeep is needed, false otherwise
performData	bytes	Encoded data needed to perform the upkeep

performUpkeep

function performUpkeep(bytes performData) external

Performs state reading and estimation operations

Parameters

Name	Type	Description
performData	bytes	Encoded data containing the action type and minibatch index

_shouldTriggerUpkeep

function _shouldTriggerUpkeep() internal view returns (bool)

Checks if upkeep should be triggered based on time

Return Values

Name	Type	Description
[0]	bool	True if upkeep should be triggered

_buildTransparentVaultsEpoch

function _buildTransparentVaultsEpoch() internal

Build filtered transparent vaults list for the epoch

_handleStart

function _handleStart() internal

Updates the next update time and resets the previous epoch state variables

_preprocessTransparentMinibatch

function _preprocessTransparentMinibatch(uint8 minibatchIndex) internal

Preprocesses minibatch of transparent vaults

Parameters

Name	Type	Description
minibatchIndex	uint8	The index of the minibatch to process

_buffer

function _buffer() internal

Updates the protocol buffer to maintain solvency and capital efficiency

_In general, this function implements a stochastic optimal control framework for buffer management that balances critical objectives and acts as a clearing house for market impact.

Solvency Constraint: The buffer must remain non-negative at all times to ensure protocol solvency.
Capital Efficiency: The buffer size should be minimized relative to Total Value Locked (TVL) to reduce capital inefficiency.

Buffer Management Strategy:

Calculates the total protocol assets across all vaults (transparent and encrypted)
Determines the target buffer amount based on the configured target ratio
Only increases the buffer if current buffer is below target (no buffer reduction)
Distributes the buffer cost proportionally across all vaults_

_postprocessTransparentMinibatch

function _postprocessTransparentMinibatch(uint8 minibatchIndex) internal

Postprocesses minibatch of transparent vaults

Parameters

Name	Type	Description
minibatchIndex	uint8	The index of the minibatch to postprocess

_addTokenIfNotExists

function _addTokenIfNotExists(address token) internal

Adds a token to the current epoch if it doesn't exist

Parameters

Name	Type	Description
token	address	The token address to add

_buildOrders

function _buildOrders() internal

Builds selling and buying orders based on portfolio differences

_Compares _finalBatchPortfolio with _initialBatchPortfolio to determine rebalancing needs Orders are stored in _currentEpoch.sellingOrders and currentEpoch.buyingOrders.

getOrders

function getOrders() external view returns (address[] sellingTokens, uint256[] sellingAmounts, address[] buyingTokens, uint256[] buyingAmounts, uint256[] sellingEstimatedUnderlyingAmounts, uint256[] buyingEstimatedUnderlyingAmounts)

Get selling and buying orders

Return Values

Name	Type	Description
sellingTokens	address[]	The tokens to sell
sellingAmounts	uint256[]	The amounts to sell in shares
buyingTokens	address[]	The tokens to buy
buyingAmounts	uint256[]	The amounts to buy in underlying assets
sellingEstimatedUnderlyingAmounts	uint256[]	The estimated underlying amounts to sell
buyingEstimatedUnderlyingAmounts	uint256[]	The estimated underlying amounts to buy

getEpochTokens

function getEpochTokens() external view returns (address[] tokens)

Get the list of tokens for the current epoch

This function blocks if the internal state orchestrator is not idle

Return Values

Name	Type	Description
tokens	address[]	The array of token addresses used in the current epoch

getPriceOf

function getPriceOf(address token) external view returns (uint256 price)

Get price for a specific token

Parameters

Name	Type	Description
token	address	The token to get the price of

Return Values

Name	Type	Description
price	uint256	The corresponding price [shares/assets]

subtractPendingProtocolFees

function subtractPendingProtocolFees(uint256 amount) external

Subtracts a specified amount from the pending protocol fees

Parameters

Name	Type	Description
amount	uint256	The amount to subtract from pending protocol fees

updateBufferAmount

function updateBufferAmount(int256 deltaAmount) external

Updates the buffer amount based on execution vs estimated amounts

Can only be called by the Liquidity Orchestrator

Parameters

Name	Type	Description
deltaAmount	int256	The amount to add/subtract from the buffer (can be negative)

getVaultTotalAssetsForFulfillRedeem

function getVaultTotalAssetsForFulfillRedeem(address vault) external view returns (uint256 totalAssets)

Get total assets for fulfill redeem for a specific vault

Parameters

Name	Type	Description
vault	address	The vault address

Return Values

Name	Type	Description
totalAssets	uint256	The total assets for fulfill redeem

getVaultTotalAssetsForFulfillDeposit

function getVaultTotalAssetsForFulfillDeposit(address vault) external view returns (uint256 totalAssets)

Get total assets for fulfill deposit for a specific vault

Parameters

Name	Type	Description
vault	address	The vault address

Return Values

Name	Type	Description
totalAssets	uint256	The total assets for fulfill deposit

getTransparentVaultsEpoch

function getTransparentVaultsEpoch() external view returns (address[] vaults)

Get the transparent vaults for the current epoch

Return Values

Name	Type	Description
vaults	address[]	The array of transparent vault addresses for the current epoch