Switch Adapters
These switch adapters integrate Aave's Flash Loans and the ParaSwap DEX aggregator smart contracts to facilitate advanced actions such as repaying borrow positions using collateral, switching collateral assets, switching borrow positions, and withdrawing and switching assets. They allow users to perform complex operations in a single transaction, leveraging the liquidity of the Aave protocol and the atomic switching capabilities of decentralized exchanges.
The table below outlines switch feature availability across V3 markets on the Aave Labs interface:
Market | Repay With Collateral | Collateral Switch | Debt Switch | Withdraw & Switch | |
---|---|---|---|---|---|
Ethereum | |||||
Ethereum Lido | |||||
Ethereum EtherFi | |||||
Arbitrum | |||||
Avalanche | |||||
Base | |||||
BNB | |||||
Optimism | |||||
Polygon | |||||
Gnosis | |||||
Fantom | |||||
Harmony | |||||
Metis | |||||
Scroll | |||||
ZKsync |
Repay With Collateral
The ParaSwapRepayAdapter contract enables users to repay their borrow positions on Aave using their supplied collateral directly, without the need to unwind their positions or provide additional liquidity. It leverages Aave's Flash Loans and the ParaSwap DEX aggregator to switch the user's collateral for the borrowed asset and repay the borrow position in a single atomic transaction.
By using this adapter, users can efficiently manage their positions and reduce their borrow positions using their existing collateral, saving on transaction costs and avoiding manual steps.
The source code is available on GitHub.
Reference Integration: useCollateralRepaySwap.tsx
Write Methods
executeOperation
function executeOperation( address asset, uint256 amount, uint256 premium, address initiator, bytes calldata params) external override nonReentrant returns (bool)
Uses the received funds from the flash loan to repay a borrow position on the protocol on behalf of the user. Then, pulls the collateral from the user and switches it to the debt asset to repay the flash loan.
The user should give this contract allowance to pull the aTokens in order to withdraw the underlying asset, switch it, and repay the flash loan.
Supports only one asset on the flash loan.
The params parameter should be the ABI-encoded values of the following:
IERC20Detailed debtAsset — The address of the borrow position asset
uint256 debtRepayAmount — The amount of the borrow position to be repaid
uint256 buyAllBalanceOffset — Offset in the ParaSwap calldata if switching all balance
uint256 rateMode — The rate mode of the borrow position to be repaid
bytes paraswapData — Data for the ParaSwap Adapter
PermitSignature permitSignature — Struct containing the permit signature, set to zeroes if not used
Input Parameters:
Name | Type | Description | |
---|---|---|---|
asset | address | The address of the flash-borrowed asset | |
amount | uint256 | The amount of the flash-borrowed asset | |
premium | uint256 | The fee of the flash-borrowed asset | |
initiator | address | The address of the flash loan initiator | |
params | bytes | The byte-encoded parameters passed when initiating the flash loan |
Return Values:
Type | Description | |
---|---|---|
bool | True if the execution of the operation succeeds, false otherwise |
swapAndRepay
function swapAndRepay( IERC20Detailed collateralAsset, IERC20Detailed debtAsset, uint256 collateralAmount, uint256 debtRepayAmount, uint256 debtRateMode, uint256 buyAllBalanceOffset, bytes calldata paraswapData, PermitSignature calldata permitSignature) external nonReentrant
Switches the user's collateral for the debt asset and then repays the borrow position on the protocol on behalf of the user without using flash loans. This method can be used when the temporary transfer of the collateral asset to this contract does not affect the user's position.
The user should give this contract allowance to pull the aTokens in order to withdraw the underlying asset.
Input Parameters:
Name | Type | Description | |
---|---|---|---|
collateralAsset | IERC20Detailed | The address of the collateral asset to be switched | |
debtAsset | IERC20Detailed | The address of the debt asset | |
collateralAmount | uint256 | The maximum amount of the collateral to be switched | |
debtRepayAmount | uint256 | The amount of the borrow position to be repaid, or maximum amount when repaying all | |
debtRateMode | uint256 | The rate mode of the borrow position to be repaid | |
buyAllBalanceOffset | uint256 | Offset in the ParaSwap calldata if switching all balance, otherwise 0 | |
paraswapData | bytes | Data for the ParaSwap Adapter | |
permitSignature | PermitSignature | Struct containing the permit signature, set to zeroes if not used |
PermitSignature Struct
struct PermitSignature { uint256 deadline; uint8 v; bytes32 r; bytes32 s;}
Members:
Name | Type | Description | |
---|---|---|---|
deadline | uint256 | The deadline timestamp for the permit signature | |
v | uint8 | The V parameter of the ECDSA signature | |
r | bytes32 | The R parameter of the ECDSA signature | |
s | bytes32 | The S parameter of the ECDSA signature |
Collateral Switch
The ParaSwapLiquiditySwapAdapter contract allows users to switch their supplied collateral from one asset to another in a single transaction using Aave's Flash Loans and the ParaSwap DEX aggregator.
This adapter enables users to rebalance their collateral positions without needing to withdraw and re-supply assets manually. By leveraging flash loans, the user can switch their existing collateral to a new asset and supply it back into the Aave protocol in a single transaction.
The source code is available on GitHub.
Reference Integration: useCollateralSwap.tsx
Write Methods
executeOperation
function executeOperation( address asset, uint256 amount, uint256 premium, address initiator, bytes calldata params) external override nonReentrant returns (bool)
Switches the received amount from the flash loan into the specified asset. The received funds from the switch are then supplied into the protocol on behalf of the user.
The user should give this contract allowance to pull the aTokens in order to withdraw the underlying asset and repay the flash loan.
The params parameter should be the ABI-encoded values of the following:
IERC20Detailed assetToSwapTo — The address of the underlying asset to be switched to and supplied
uint256 minAmountToReceive — The minimum amount to be received from the switch
uint256 swapAllBalanceOffset — Offset in the Augustus calldata if switching all balance, otherwise 0
bytes swapCalldata — Calldata for ParaSwap's Augustus Swapper contract
IParaSwapAugustus augustus — Address of ParaSwap's Augustus Swapper contract
PermitSignature permitParams — Struct containing the permit signature, set to zeroes if not used
Input Parameters:
Name | Type | Description | |
---|---|---|---|
asset | address | The address of the flash-borrowed asset | |
amount | uint256 | The amount of the flash-borrowed asset | |
premium | uint256 | The fee of the flash-borrowed asset | |
initiator | address | The address of the flash loan initiator | |
params | bytes | The byte-encoded parameters passed when initiating the flash loan |
Return Values:
Type | Description | |
---|---|---|
bool | True if the execution of the operation succeeds, false otherwise |
swapAndDeposit
function swapAndDeposit( IERC20Detailed assetToSwapFrom, IERC20Detailed assetToSwapTo, uint256 amountToSwap, uint256 minAmountToReceive, uint256 swapAllBalanceOffset, bytes calldata swapCalldata, IParaSwapAugustus augustus, PermitSignature calldata permitParams) external nonReentrant
Switches an amount of an asset to another and supplies the new asset amount on behalf of the user without using a flash loan. This method can be used when the temporary transfer of the collateral asset to this contract does not affect the user's position.
The user should give this contract allowance to pull the aTokens in order to withdraw the underlying asset and perform the switch.
Input Parameters:
Name | Type | Description | |
---|---|---|---|
assetToSwapFrom | IERC20Detailed | The address of the underlying asset to be switched from | |
assetToSwapTo | IERC20Detailed | The address of the underlying asset to be switched to and supplied | |
amountToSwap | uint256 | Amount to be switched, or maximum amount when switching all balance | |
minAmountToReceive | uint256 | Minimum amount to be received from the switch | |
swapAllBalanceOffset | uint256 | Offset in Augustus calldata if switching all balance, otherwise 0 | |
swapCalldata | bytes | Calldata for ParaSwap's Augustus Swapper contract | |
augustus | IParaSwapAugustus | Address of ParaSwap's Augustus Swapper contract | |
permitParams | PermitSignature | Struct containing the permit signature, set to zeroes if not used |
Borrow Position Switch
The ParaSwapDebtSwapAdapter contracts allow users to switch their borrow positions from one asset to another. They leverage Aave's Flash Loans and the ParaSwap DEX aggregator to perform the switch in a single atomic transaction.
There are two versions of the adapter:
-
ParaSwapDebtSwapAdapterV3: The standard version that supports switching any borrow position asset.
Source Code: GitHub
Reference Integration: useDebtSwitch.tsx
-
ParaSwapDebtSwapAdapterV3GHO: A specialized version that supports GHO, where GHO can be flash minted via the ERC-3156 interface.
Source Code: GitHub
Reference Integration: useDebtSwitch.tsx
ParaSwapDebtSwapAdapterV3
The ParaSwapDebtSwapAdapterV3 contract allows users to switch their borrow positions from one asset to another, enabling borrow position refinancing on the Aave protocol.
This adapter leverages Aave's Flash Loans and the ParaSwap DEX aggregator to perform the borrow position switch in a single transaction.
Write Methods
executeOperation
function executeOperation( address[] calldata assets, uint256[] calldata amounts, uint256[] calldata, address initiator, bytes calldata params) external returns (bool)
Performs the borrow position switch operation using the received funds from the flash loan.
Performs the switch and repay operation using the borrowed funds from the flash loan, and then re-borrows the new borrow position asset to maintain the overall borrow position.
The params parameter should be the ABI-encoded values required for the operation, such as:
The addresses of the borrow position assets involved
The rate modes of the borrow positions
ParaSwap switch data
Any necessary permit signatures
Input Parameters:
Name | Type | Description | |
---|---|---|---|
assets | address[] | The addresses of the assets being borrowed in the flash loan | |
amounts | uint256[] | The amounts of the assets being borrowed | |
premiums | uint256[] | The fees for the flash loans | |
initiator | address | The address of the flash loan initiator | |
params | bytes | Arbitrary data containing the parameters needed for the operation |
Return Values:
Type | Description | |
---|---|---|
bool | True if the execution of the operation succeeds, false otherwise |
ParaSwapDebtSwapAdapterV3GHO
The ParaSwapDebtSwapAdapterV3GHO contract is a specialized version of the borrow position switch adapter that supports GHO, allowing users to switch their borrow positions involving GHO. It utilizes the ERC-3156 flash mint interface for GHO.
Performs the switch and repay operation using the borrowed funds from the flash loan, and then re-borrows the borrow position asset to maintain the overall borrow position.
Write Methods
onFlashLoan
function onFlashLoan( address initiator, address token, uint256 amount, uint256 fee, bytes calldata data) external override returns (bytes32)
This is the ERC-3156 Flash Loan callback function that gets called when the contract receives a flash loan (in this case, flash mint) from the GHO Flash Minter.
Input Parameters:
Name | Type | Description | |
---|---|---|---|
initiator | address | The initiator of the flash loan | |
token | address | The address of the token being borrowed | |
amount | uint256 | The amount of tokens being borrowed | |
fee | uint256 | The fee for the flash loan | |
data | bytes | Arbitrary data containing the parameters needed for the operation |
Return Values:
Type | Description | |
---|---|---|
bytes32 | The keccak256 hash of the string 'ERC3156FlashBorrower.onFlashLoan' |
Withdraw & Switch
The ParaSwapWithdrawSwapAdapter contract allows users to withdraw their supplied assets from Aave and switch them to another asset in a single transaction using the ParaSwap DEX aggregator.
This adapter enables users to efficiently exit positions and switch their assets without having to perform multiple transactions, reducing gas costs and simplifying the user experience.
The source code is available on GitHub.
Reference Integration: WithdrawAndSwitchActions.tsx
Write Methods
withdrawAndSwap
function withdrawAndSwap( IERC20Detailed assetToSwapFrom, IERC20Detailed assetToSwapTo, uint256 amountToSwap, uint256 minAmountToReceive, uint256 swapAllBalanceOffset, bytes calldata swapCalldata, IParaSwapAugustus augustus, PermitSignature calldata permitParams) external nonReentrant
Switches an amount of an asset to another after a withdrawal and transfers the new asset to the user. The user should give this contract allowance to pull the aTokens in order to withdraw the underlying asset and perform the switch.
Input Parameters:
Name | Type | Description | |
---|---|---|---|
assetToSwapFrom | IERC20Detailed | The address of the underlying asset to be switched from | |
assetToSwapTo | IERC20Detailed | The address of the underlying asset to be switched to | |
amountToSwap | uint256 | Amount to be switched, or maximum amount when switching all balance | |
minAmountToReceive | uint256 | Minimum amount to be received from the switch | |
swapAllBalanceOffset | uint256 | Offset in Augustus calldata if switching all balance, otherwise 0 | |
swapCalldata | bytes | Calldata for ParaSwap's Augustus Swapper contract | |
augustus | IParaSwapAugustus | Address of ParaSwap's Augustus Swapper contract | |
permitParams | PermitSignature | Struct containing the permit signature, set to zeroes if not used |
executeOperation
Note that in this contract, the executeOperation method is overridden but simply reverts with NOT_SUPPORTED, so it's not intended to be used.