IGMTokenManager

The IGMTokenManager interface may be used by external parties to buy and sell Global Markets tokens using attestations. The general flow for each side is:

Buying GM Tokens

User gets a signed quote (off‑chain)
- The attestation service prepares a Quote whose side is BUY, signs its EIP‑712 digest, and returns the quote and signature to the user
- Price is expressed in USD with 18 decimals (e.g., $12.34 →12340000000000000000)
- Quantity is the number of GM tokens the user wishes to receive
User pre‑authorizes USDon or USDC
- GMTokenManager must have a sufficient allowance of USDon or USDC (other ERC-20s may be added in the future) before the call
- Allowance ≥ price × quantity
  🚧
  Note on USDon
  USDon will be Ondo's permissionless ERC20 stablecoin representing USD held in Ondo's brokerage account (which buys equities/ETFs backing GM tokens). Users can convert USDC to USDon with zero slippage by specifying it as the deposit token below. We will have more details on our PSM (Peg Stability Module) contract coming soon.
User calls mintWithAttestation(quote, signature, depositToken, depositTokenAmount), which will atomically:

Verify the quote
- Re‑computes the EIP‑712 digest and verifies the signature against the attestation signer
- Confirm that the caller is whitelisted and their stored userID matches the one received in the quote
- Ensures the attestationId has not been used and that block.timestamp ≤ expiration
- Confirms side == BUY
- Ensure the value of the transaction is greater than minimumDepositUSD but does not exceed per-user and per-token rate limits
Settle the tokens
- If the depositToken specified is not USDon, first swap depositTokenAmount for USDon
- Burns price × quantity of USDon (either after receiving from msg.sender or swapping)
- Mints quantity of GM tokens to msg.sender
- Refund USDon to the user if any is leftover
Post‑process the quote
- Marks attestationId as consumed to prevent replay
Return the tokens received
- receivedGmTokenAmount equals quantity

Selling GM Tokens

User gets a signed quote (off‑chain)
- Attestation service issues a Quote whose side is SELL, signs it, and returns quote and signature
- Price still uses 18‑decimal USD format
- Quantity is the GM amount the user will sell
User pre‑authorizes GM tokens
- GMTokenManager must have allowance ≥ quantity of the specific GM token (asset) described in the quote
User calls redeemWithAttestation(quote, signature, receiveToken, minimumReceiveAmount), which will atomically:

Verify the quote
- Same as subscribe, but checks that side == SELL instead and that the transaction value is greater than minimumRedemptiUSDon
Settle the tokens
- Transfers quantity of GM tokens from user to manager and burns them
- Mints out price × quantity of USDon to the GMTokenManager
- If the caller specifies a non-USDon token as the receiveToken, it will swap all the USDon received for the receiveToken (note: the call will revert if the swap doesn't result in >= minimumReceiveAmount being received)
- All tokens received are transferred to the caller
Post‑process the quote
- Marks attestationId as used
Return the tokens received
- receivedUSDonAmount equals price × quantity

Functions

mintWithAttestation

Called by users to mint GM tokens with a quote attestation using USDon

If the deposit token is not USDon and the depositTokenAmount is not enough to swap for USDon
worth quantity * price as specified in the quote, the transaction will fail as the mintUSDonValue is passed in to the minimum RWA received field in subscribe.

function mintWithAttestation(
    Quote calldata quote,
    bytes memory signature,
    address depositToken,
    uint256 depositTokenAmount
) public override whenMintingNotPaused(quote.asset) returns (uint256);

Parameters

Name	Type	Description
`quote`	`Quote`	The quote to mint GM tokens with
`signature`	`bytes`	The signature of the quote attestation
`depositToken`	`address`	The token the user would like to deposit in return for GM Tokens. If not USDon, this will be reliant on the ability to swap for USDon in the USDonManager
`depositTokenAmount`	`uint256`	The amount of depositToken the user wishes to spend to purchase USDon atomically in the transaction

Returns

Name	Type	Description
`<none>`	`uint256`	The amount of GM tokens minted to the user

redeemWithAttestation

Called by users to redeem GM tokens for USDon

function redeemWithAttestation(
    Quote calldata quote,
    bytes memory signature,
    address receiveToken,
    uint256 minimumReceiveAmount
) public override whenRedeemNotPaused(quote.asset) returns (uint256);

Parameters

Name	Type	Description
`quote`	`Quote`	The quote to redeem GM tokens with
`signature`	`bytes`	The signature of the quote attestation
`receiveToken`	`address`	The token the user would like to receive. If it is not USDon, transaction success will depend on liquidity in USDonManager
`minimumReceiveAmount`	`uint256`	The minimum amount of tokens the user would like to receive - ONLY applicable if the user requests a non-USDon otoken

Returns

Name	Type	Description
`<none>`	`uint256`	The amount of USDon minted

Structs

Quote

Quote struct that is signed by the attestation signer

struct Quote {
    uint256 chainId;
    uint256 attestationId;
    bytes32 userId;
    address asset;
    uint256 price;
    uint256 quantity;
    uint256 expiration;
    QuoteSide side;
    bytes32 additionalData;
}

Properties

Name	Type	Description
`chainId`	`uint256`	The chain ID of the quote is intended for
`attestationId`	`uint256`	The ID of the quote
`userId`	`bytes32`	The user ID the quote is intended for
`asset`	`address`	The address of the GM token being bought or sold
`price`	`uint256`	The price of the GM token in USD with 18 decimals
`quantity`	`uint256`	The quantity of GM tokens being bought or sold
`expiration`	`uint256`	The expiration of the quote in seconds since the epoch
`side`	`QuoteSide`	The direction of the quote (BUY or SELL)
`additionalData`	`bytes32`	Any additional data that is needed for the quote

Enums

QuoteSide

Enum for the side of the quote

enum QuoteSide {
    BUY,
    SELL
}