From 10a6db8d23ecb0a6d10f86413b19efeb0060f10c Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Thu, 30 May 2024 13:42:59 +0100
Subject: [PATCH 1/8] feat: socialize negative yield
---
src/FourSixTwoSixAgg.sol | 4 ++--
1 file changed, 2 insertions(+), 2 deletions(-)
diff --git a/src/FourSixTwoSixAgg.sol b/src/FourSixTwoSixAgg.sol
index 5f79f742..607dbbc1 100644
--- a/src/FourSixTwoSixAgg.sol
+++ b/src/FourSixTwoSixAgg.sol
@@ -620,8 +620,8 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
_accruePerformanceFee(yield);
} else {
- // TODO handle losses
- revert NegativeYield();
+ uint256 socializedLoss = strategyData.allocated - underlyingBalance;
+ totalAssetsDeposited -= socializedLoss;
}
}
From 61a19e3acc110760d6b9a2617b8ba470c7f67164 Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Fri, 31 May 2024 16:52:35 +0100
Subject: [PATCH 2/8] fix and tests'
---
src/FourSixTwoSixAgg.sol | 7 +--
test/unit/HarvestTest.t.sol | 85 ++++++++++++++++++++++++++++++++++++-
2 files changed, 87 insertions(+), 5 deletions(-)
diff --git a/src/FourSixTwoSixAgg.sol b/src/FourSixTwoSixAgg.sol
index 607dbbc1..38d758b4 100644
--- a/src/FourSixTwoSixAgg.sol
+++ b/src/FourSixTwoSixAgg.sol
@@ -10,6 +10,8 @@ import {EVCUtil, IEVC} from "ethereum-vault-connector/utils/EVCUtil.sol";
import {BalanceForwarder, IBalanceForwarder} from "./BalanceForwarder.sol";
import {IRewardStreams} from "reward-streams/interfaces/IRewardStreams.sol";
+import {Test, console2, stdError} from "forge-std/Test.sol";
+
/// @dev Do NOT use with fee on transfer tokens
/// @dev Do NOT use with rebasing tokens
/// @dev Based on https://github.com/euler-xyz/euler-vault-kit/blob/master/src/Synths/EulerSavingsRate.sol
@@ -437,7 +439,6 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
function updateInterestAndReturnESRSlotCache() public returns (ESRSlot memory) {
ESRSlot memory esrSlotCache = esrSlot;
uint256 accruedInterest = interestAccruedFromCache(esrSlotCache);
-
// it's safe to down-cast because the accrued interest is a fraction of interest left
esrSlotCache.interestLeft -= uint168(accruedInterest);
esrSlotCache.lastInterestUpdate = uint40(block.timestamp);
@@ -524,7 +525,6 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
if (totalAssetsDeposited == 0) return;
uint256 toGulp = totalAssetsAllocatable() - totalAssetsDeposited - esrSlotCache.interestLeft;
-
uint256 maxGulp = type(uint168).max - esrSlotCache.interestLeft;
if (toGulp > maxGulp) toGulp = maxGulp; // cap interest, allowing the vault to function
@@ -606,7 +606,6 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
Strategy memory strategyData = strategies[strategy];
if (strategyData.allocated == 0) return;
-
uint256 sharesBalance = IERC4626(strategy).balanceOf(address(this));
uint256 underlyingBalance = IERC4626(strategy).convertToAssets(sharesBalance);
@@ -621,6 +620,8 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
_accruePerformanceFee(yield);
} else {
uint256 socializedLoss = strategyData.allocated - underlyingBalance;
+ strategies[strategy].allocated = uint120(underlyingBalance);
+ // totalAllocated -= socializedLoss;
totalAssetsDeposited -= socializedLoss;
}
}
diff --git a/test/unit/HarvestTest.t.sol b/test/unit/HarvestTest.t.sol
index 0f68a5ae..e5039756 100644
--- a/test/unit/HarvestTest.t.sol
+++ b/test/unit/HarvestTest.t.sol
@@ -95,7 +95,7 @@ contract HarvestTest is FourSixTwoSixAggBase {
function testHarvestNegativeYield() public {
vm.warp(block.timestamp + 86400);
- // mock an increase of strategy balance by 10%
+ // mock a decrease of strategy balance by 10%
uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
vm.mockCall(
address(eTST),
@@ -107,8 +107,89 @@ contract HarvestTest is FourSixTwoSixAggBase {
assertTrue(eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg))) < strategyBefore.allocated);
+ vm.prank(user1);
+ fourSixTwoSixAgg.harvest(address(eTST));
+ }
+
+ function testHarvestNegativeYieldAndWithdrawSingleUser() public {
+ vm.warp(block.timestamp + 86400);
+
+ // mock a decrease of strategy balance by 10%
+ uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ uint256 aggrCurrentStrategyBalanceAfterNegYield = aggrCurrentStrategyBalance * 9e17 / 1e18;
+ vm.mockCall(
+ address(eTST),
+ abi.encodeWithSelector(EVault.balanceOf.selector, address(fourSixTwoSixAgg)),
+ abi.encode(aggrCurrentStrategyBalanceAfterNegYield)
+ );
+
+ FourSixTwoSixAgg.Strategy memory strategyBefore = fourSixTwoSixAgg.getStrategy(address(eTST));
+ assertTrue(eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg))) < strategyBefore.allocated);
+ uint256 negativeYield =
+ strategyBefore.allocated - eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg)));
+
+ uint256 user1SharesBefore = fourSixTwoSixAgg.balanceOf(user1);
+ uint256 user1SocializedLoss = user1SharesBefore * negativeYield / fourSixTwoSixAgg.totalSupply();
+ uint256 expectedUser1Assets =
+ user1SharesBefore * amountToDeposit / fourSixTwoSixAgg.totalSupply() - user1SocializedLoss;
+ uint256 user1AssetTSTBalanceBefore = assetTST.balanceOf(user1);
+
vm.startPrank(user1);
- vm.expectRevert(FourSixTwoSixAgg.NegativeYield.selector);
fourSixTwoSixAgg.harvest(address(eTST));
+ fourSixTwoSixAgg.redeem(user1SharesBefore, user1, user1);
+ vm.stopPrank();
+
+ uint256 user1SharesAfter = fourSixTwoSixAgg.balanceOf(user1);
+
+ assertEq(user1SharesAfter, 0);
+ assertApproxEqAbs(assetTST.balanceOf(user1), user1AssetTSTBalanceBefore + expectedUser1Assets, 1);
+ }
+
+ function testHarvestNegativeYieldwMultipleUser() public {
+ uint256 user2InitialBalance = 5000e18;
+ assetTST.mint(user2, user2InitialBalance);
+ // deposit into aggregator
+ {
+ vm.startPrank(user2);
+ assetTST.approve(address(fourSixTwoSixAgg), user2InitialBalance);
+ fourSixTwoSixAgg.deposit(user2InitialBalance, user2);
+ vm.stopPrank();
+ }
+
+ vm.warp(block.timestamp + 86400);
+
+ // mock a decrease of strategy balance by 10%
+ uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ uint256 aggrCurrentStrategyBalanceAfterNegYield = aggrCurrentStrategyBalance * 9e17 / 1e18;
+ vm.mockCall(
+ address(eTST),
+ abi.encodeWithSelector(EVault.balanceOf.selector, address(fourSixTwoSixAgg)),
+ abi.encode(aggrCurrentStrategyBalanceAfterNegYield)
+ );
+
+ FourSixTwoSixAgg.Strategy memory strategyBefore = fourSixTwoSixAgg.getStrategy(address(eTST));
+ assertTrue(eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg))) < strategyBefore.allocated);
+ uint256 negativeYield =
+ strategyBefore.allocated - eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg)));
+ uint256 user1SharesBefore = fourSixTwoSixAgg.balanceOf(user1);
+ uint256 user1SocializedLoss = user1SharesBefore * negativeYield / fourSixTwoSixAgg.totalSupply();
+ uint256 user2SharesBefore = fourSixTwoSixAgg.balanceOf(user2);
+ uint256 user2SocializedLoss = user2SharesBefore * negativeYield / fourSixTwoSixAgg.totalSupply();
+
+ uint256 expectedUser1Assets = user1SharesBefore * (amountToDeposit + user2InitialBalance)
+ / fourSixTwoSixAgg.totalSupply() - user1SocializedLoss;
+ uint256 expectedUser2Assets = user2SharesBefore * (amountToDeposit + user2InitialBalance)
+ / fourSixTwoSixAgg.totalSupply() - user2SocializedLoss;
+
+ vm.prank(user1);
+ fourSixTwoSixAgg.harvest(address(eTST));
+
+ uint256 user1SharesAfter = fourSixTwoSixAgg.balanceOf(user1);
+ uint256 user1AssetsAfter = fourSixTwoSixAgg.convertToAssets(user1SharesAfter);
+ uint256 user2SharesAfter = fourSixTwoSixAgg.balanceOf(user2);
+ uint256 user2AssetsAfter = fourSixTwoSixAgg.convertToAssets(user2SharesAfter);
+
+ assertApproxEqAbs(user1AssetsAfter, expectedUser1Assets, 1);
+ assertApproxEqAbs(user2AssetsAfter, expectedUser2Assets, 1);
}
}
From 5c4746b1492bfefc1ba9f41fdfa4cd37d2ed84a6 Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Fri, 31 May 2024 16:53:10 +0100
Subject: [PATCH 3/8] decrease totalAllocated
---
src/FourSixTwoSixAgg.sol | 2 +-
1 file changed, 1 insertion(+), 1 deletion(-)
diff --git a/src/FourSixTwoSixAgg.sol b/src/FourSixTwoSixAgg.sol
index 38d758b4..cc63807c 100644
--- a/src/FourSixTwoSixAgg.sol
+++ b/src/FourSixTwoSixAgg.sol
@@ -621,7 +621,7 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
} else {
uint256 socializedLoss = strategyData.allocated - underlyingBalance;
strategies[strategy].allocated = uint120(underlyingBalance);
- // totalAllocated -= socializedLoss;
+ totalAllocated -= socializedLoss;
totalAssetsDeposited -= socializedLoss;
}
}
From 034c2e514dbb388f5a6f738b54cf98a367315099 Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Mon, 3 Jun 2024 14:45:09 +0100
Subject: [PATCH 4/8] fix
---
src/FourSixTwoSixAgg.sol | 16 +++++++++++++---
1 file changed, 13 insertions(+), 3 deletions(-)
diff --git a/src/FourSixTwoSixAgg.sol b/src/FourSixTwoSixAgg.sol
index cc63807c..57804dc0 100644
--- a/src/FourSixTwoSixAgg.sol
+++ b/src/FourSixTwoSixAgg.sol
@@ -525,6 +525,7 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
if (totalAssetsDeposited == 0) return;
uint256 toGulp = totalAssetsAllocatable() - totalAssetsDeposited - esrSlotCache.interestLeft;
+ /// TODO return if toGulp == 0
uint256 maxGulp = type(uint168).max - esrSlotCache.interestLeft;
if (toGulp > maxGulp) toGulp = maxGulp; // cap interest, allowing the vault to function
@@ -619,10 +620,19 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
_accruePerformanceFee(yield);
} else {
- uint256 socializedLoss = strategyData.allocated - underlyingBalance;
+ uint256 loss = strategyData.allocated - underlyingBalance;
+
strategies[strategy].allocated = uint120(underlyingBalance);
- totalAllocated -= socializedLoss;
- totalAssetsDeposited -= socializedLoss;
+ totalAllocated -= loss;
+
+ ESRSlot memory esrSlotCache = esrSlot;
+ if (esrSlotCache.interestLeft >= loss) {
+ esrSlotCache.interestLeft -= uint168(loss);
+ } else {
+ totalAssetsDeposited -= loss - esrSlotCache.interestLeft;
+ esrSlotCache.interestLeft = 0;
+ }
+ esrSlot = esrSlotCache;
}
}
From 0262537185ba9cc113a75ff945c81d5c84d1cb92 Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Mon, 3 Jun 2024 14:45:19 +0100
Subject: [PATCH 5/8] more gulping tests
---
test/unit/GulpTest.t.sol | 157 +++++++++++++++++++++++++++++++++++++++
1 file changed, 157 insertions(+)
create mode 100644 test/unit/GulpTest.t.sol
diff --git a/test/unit/GulpTest.t.sol b/test/unit/GulpTest.t.sol
new file mode 100644
index 00000000..c96cb3d1
--- /dev/null
+++ b/test/unit/GulpTest.t.sol
@@ -0,0 +1,157 @@
+// SPDX-License-Identifier: GPL-2.0-or-later
+pragma solidity ^0.8.0;
+
+import {FourSixTwoSixAggBase, FourSixTwoSixAgg, console2, EVault} from "../common/FourSixTwoSixAggBase.t.sol";
+
+contract GulpTest is FourSixTwoSixAggBase {
+ uint256 user1InitialBalance = 100000e18;
+ uint256 amountToDeposit = 10000e18;
+
+ function setUp() public virtual override {
+ super.setUp();
+
+ uint256 initialStrategyAllocationPoints = 500e18;
+ _addStrategy(manager, address(eTST), initialStrategyAllocationPoints);
+
+ assetTST.mint(user1, user1InitialBalance);
+
+ // deposit into aggregator
+ {
+ uint256 balanceBefore = fourSixTwoSixAgg.balanceOf(user1);
+ uint256 totalSupplyBefore = fourSixTwoSixAgg.totalSupply();
+ uint256 totalAssetsDepositedBefore = fourSixTwoSixAgg.totalAssetsDeposited();
+ uint256 userAssetBalanceBefore = assetTST.balanceOf(user1);
+
+ vm.startPrank(user1);
+ assetTST.approve(address(fourSixTwoSixAgg), amountToDeposit);
+ fourSixTwoSixAgg.deposit(amountToDeposit, user1);
+ vm.stopPrank();
+
+ assertEq(fourSixTwoSixAgg.balanceOf(user1), balanceBefore + amountToDeposit);
+ assertEq(fourSixTwoSixAgg.totalSupply(), totalSupplyBefore + amountToDeposit);
+ assertEq(fourSixTwoSixAgg.totalAssetsDeposited(), totalAssetsDepositedBefore + amountToDeposit);
+ assertEq(assetTST.balanceOf(user1), userAssetBalanceBefore - amountToDeposit);
+ }
+
+ // rebalance into strategy
+ vm.warp(block.timestamp + 86400);
+ {
+ FourSixTwoSixAgg.Strategy memory strategyBefore = fourSixTwoSixAgg.getStrategy(address(eTST));
+
+ assertEq(eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg))), strategyBefore.allocated);
+
+ uint256 expectedStrategyCash = fourSixTwoSixAgg.totalAssetsAllocatable() * strategyBefore.allocationPoints
+ / fourSixTwoSixAgg.totalAllocationPoints();
+
+ vm.prank(user1);
+ fourSixTwoSixAgg.rebalance(address(eTST));
+
+ assertEq(fourSixTwoSixAgg.totalAllocated(), expectedStrategyCash);
+ assertEq(eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg))), expectedStrategyCash);
+ assertEq((fourSixTwoSixAgg.getStrategy(address(eTST))).allocated, expectedStrategyCash);
+ }
+ }
+
+ // function testGulp() public {
+ // console2.log("#testGulp");
+ // fourSixTwoSixAgg.gulp();
+ // FourSixTwoSixAgg.ESRSlot memory ers = fourSixTwoSixAgg.getESRSlot();
+ // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+ // assertEq(ers.interestLeft, 0);
+
+ // vm.warp(block.timestamp + 2 days);
+ // fourSixTwoSixAgg.gulp();
+ // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+
+ // vm.warp(block.timestamp + 1 days);
+ // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+ // uint256 yield;
+ // {
+ // uint256 aggrCurrentStrategyShareBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ // uint256 aggrCurrentStrategyUnderlyingBalance = eTST.convertToAssets(aggrCurrentStrategyShareBalance);
+ // uint256 aggrNewStrategyUnderlyingBalance = aggrCurrentStrategyUnderlyingBalance * 11e17 / 1e18;
+ // yield = aggrNewStrategyUnderlyingBalance - aggrCurrentStrategyUnderlyingBalance;
+ // assetTST.mint(address(eTST), yield);
+ // eTST.skim(type(uint256).max, address(fourSixTwoSixAgg));
+ // }
+ // vm.prank(user1);
+ // fourSixTwoSixAgg.harvest(address(eTST));
+
+ // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+
+ // vm.warp(block.timestamp + 1 days);
+ // // interest per day 23.809523809523
+ // assertEq(fourSixTwoSixAgg.interestAccrued(), 23809523809523809523);
+ // fourSixTwoSixAgg.gulp();
+ // ers = fourSixTwoSixAgg.getESRSlot();
+ // assertEq(ers.interestLeft, yield - 23809523809523809523);
+
+ // // move close to end of smearing
+ // vm.warp(block.timestamp + 11 days);
+ // fourSixTwoSixAgg.gulp();
+ // ers = fourSixTwoSixAgg.getESRSlot();
+ // // assertEq(ers.interestLeft, yield - 23809523809523809523*11);
+
+ // // mock a decrease of strategy balance by ers.interestLeft
+ // uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ // uint256 aggrCurrentStrategyBalanceAfterNegYield = aggrCurrentStrategyBalance - ers.interestLeft;
+ // vm.mockCall(
+ // address(eTST),
+ // abi.encodeWithSelector(EVault.balanceOf.selector, address(fourSixTwoSixAgg)),
+ // abi.encode(aggrCurrentStrategyBalanceAfterNegYield)
+ // );
+ // vm.prank(user1);
+ // fourSixTwoSixAgg.harvest(address(eTST));
+ // }
+
+ function testGulp() public {
+ fourSixTwoSixAgg.gulp();
+ FourSixTwoSixAgg.ESRSlot memory ers = fourSixTwoSixAgg.getESRSlot();
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+ assertEq(ers.interestLeft, 0);
+
+ vm.warp(block.timestamp + 2 days);
+ fourSixTwoSixAgg.gulp();
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+
+ vm.warp(block.timestamp + 1 days);
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+ uint256 yield;
+ {
+ uint256 aggrCurrentStrategyShareBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ uint256 aggrCurrentStrategyUnderlyingBalance = eTST.convertToAssets(aggrCurrentStrategyShareBalance);
+ uint256 aggrNewStrategyUnderlyingBalance = aggrCurrentStrategyUnderlyingBalance * 11e17 / 1e18;
+ yield = aggrNewStrategyUnderlyingBalance - aggrCurrentStrategyUnderlyingBalance;
+ assetTST.mint(address(eTST), yield);
+ eTST.skim(type(uint256).max, address(fourSixTwoSixAgg));
+ }
+ vm.prank(user1);
+ fourSixTwoSixAgg.harvest(address(eTST));
+
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+
+ vm.warp(block.timestamp + 1 days);
+ // interest per day 23.809523809523
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 23809523809523809523);
+ fourSixTwoSixAgg.gulp();
+ ers = fourSixTwoSixAgg.getESRSlot();
+ assertEq(ers.interestLeft, yield - 23809523809523809523);
+
+ // move close to end of smearing
+ vm.warp(block.timestamp + 11 days);
+ fourSixTwoSixAgg.gulp();
+ ers = fourSixTwoSixAgg.getESRSlot();
+ // assertEq(ers.interestLeft, yield - 23809523809523809523*11);
+
+ // mock a decrease of strategy balance by ers.interestLeft
+ uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ uint256 aggrCurrentStrategyBalanceAfterNegYield = aggrCurrentStrategyBalance - (ers.interestLeft * 2);
+ vm.mockCall(
+ address(eTST),
+ abi.encodeWithSelector(EVault.balanceOf.selector, address(fourSixTwoSixAgg)),
+ abi.encode(aggrCurrentStrategyBalanceAfterNegYield)
+ );
+ vm.prank(user1);
+ fourSixTwoSixAgg.harvest(address(eTST));
+ }
+}
From 0ce8f6592f085db2f11cf4fd77266707d79c2aad Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Mon, 3 Jun 2024 16:44:23 +0100
Subject: [PATCH 6/8] clean
---
src/FourSixTwoSixAgg.sol | 34 +++++++++++++++++++++++-----------
1 file changed, 23 insertions(+), 11 deletions(-)
diff --git a/src/FourSixTwoSixAgg.sol b/src/FourSixTwoSixAgg.sol
index 57804dc0..d15dd4fb 100644
--- a/src/FourSixTwoSixAgg.sol
+++ b/src/FourSixTwoSixAgg.sol
@@ -224,6 +224,8 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
/// @param _strategy Address of strategy to rebalance.
function rebalance(address _strategy) external nonReentrant {
_rebalance(_strategy);
+
+ _gulp();
}
/// @notice Rebalance multiple strategies.
@@ -232,9 +234,11 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
for (uint256 i; i < _strategies.length; ++i) {
_rebalance(_strategies[i]);
}
+
+ _gulp();
}
- /// @notice Harvest positive yield.
+ /// @notice Harvest strategy.
/// @param strategy address of strategy
function harvest(address strategy) external nonReentrant {
_harvest(strategy);
@@ -242,6 +246,8 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
_gulp();
}
+ /// @notice Harvest multiple strategie.
+ /// @param _strategies an array of strategy addresses.
function harvestMultipleStrategies(address[] calldata _strategies) external nonReentrant {
for (uint256 i; i < _strategies.length; ++i) {
_harvest(_strategies[i]);
@@ -340,6 +346,10 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
withdrawalQueue.pop();
}
+ function updateInterestAccrued() external returns (ESRSlot memory) {
+ return _updateInterestAccrued();
+ }
+
function gulp() external nonReentrant {
_gulp();
}
@@ -366,7 +376,7 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
/// @notice Return the accrued interest
/// @return uint256 accrued interest
function interestAccrued() external view returns (uint256) {
- return interestAccruedFromCache(esrSlot);
+ return _interestAccruedFromCache(esrSlot);
}
/// @notice Transfers a certain amount of tokens to a recipient.
@@ -418,7 +428,7 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
returns (uint256 shares)
{
// Move interest to totalAssetsDeposited
- updateInterestAndReturnESRSlotCache();
+ _updateInterestAccrued();
return super.withdraw(assets, receiver, owner);
}
@@ -432,13 +442,13 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
returns (uint256 assets)
{
// Move interest to totalAssetsDeposited
- updateInterestAndReturnESRSlotCache();
+ _updateInterestAccrued();
return super.redeem(shares, receiver, owner);
}
- function updateInterestAndReturnESRSlotCache() public returns (ESRSlot memory) {
+ function _updateInterestAccrued() internal returns (ESRSlot memory) {
ESRSlot memory esrSlotCache = esrSlot;
- uint256 accruedInterest = interestAccruedFromCache(esrSlotCache);
+ uint256 accruedInterest = _interestAccruedFromCache(esrSlotCache);
// it's safe to down-cast because the accrued interest is a fraction of interest left
esrSlotCache.interestLeft -= uint168(accruedInterest);
esrSlotCache.lastInterestUpdate = uint40(block.timestamp);
@@ -453,7 +463,7 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
/// @notice Return the total amount of assets deposited, plus the accrued interest.
/// @return uint256 total amount
function totalAssets() public view override returns (uint256) {
- return totalAssetsDeposited + interestAccruedFromCache(esrSlot);
+ return totalAssetsDeposited + _interestAccruedFromCache(esrSlot);
}
/// @notice get the total assets allocatable
@@ -520,12 +530,15 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
super._withdraw(caller, receiver, owner, assets, shares);
}
+ /// @dev gulp positive yield and increment the left interest
function _gulp() internal {
- ESRSlot memory esrSlotCache = updateInterestAndReturnESRSlotCache();
+ ESRSlot memory esrSlotCache = _updateInterestAccrued();
if (totalAssetsDeposited == 0) return;
uint256 toGulp = totalAssetsAllocatable() - totalAssetsDeposited - esrSlotCache.interestLeft;
- /// TODO return if toGulp == 0
+
+ if (toGulp == 0) return;
+
uint256 maxGulp = type(uint168).max - esrSlotCache.interestLeft;
if (toGulp > maxGulp) toGulp = maxGulp; // cap interest, allowing the vault to function
@@ -550,7 +563,6 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
// Harvest profits, also gulps and updates interest
_harvest(_strategy);
- _gulp();
Strategy memory strategyData = strategies[_strategy];
@@ -663,7 +675,7 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
/// @dev Get accrued interest without updating it.
/// @param esrSlotCache Cached esrSlot
/// @return uint256 accrued interest
- function interestAccruedFromCache(ESRSlot memory esrSlotCache) internal view returns (uint256) {
+ function _interestAccruedFromCache(ESRSlot memory esrSlotCache) internal view returns (uint256) {
// If distribution ended, full amount is accrued
if (block.timestamp > esrSlotCache.interestSmearEnd) {
return esrSlotCache.interestLeft;
From d55d61b1dd26b5085a98233b37310b46e0410a47 Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Mon, 3 Jun 2024 17:08:44 +0100
Subject: [PATCH 7/8] more tests
---
test/unit/GulpTest.t.sol | 105 +++++++++++++++++++--------------------
1 file changed, 51 insertions(+), 54 deletions(-)
diff --git a/test/unit/GulpTest.t.sol b/test/unit/GulpTest.t.sol
index c96cb3d1..3f6da94d 100644
--- a/test/unit/GulpTest.t.sol
+++ b/test/unit/GulpTest.t.sol
@@ -52,59 +52,57 @@ contract GulpTest is FourSixTwoSixAggBase {
}
}
- // function testGulp() public {
- // console2.log("#testGulp");
- // fourSixTwoSixAgg.gulp();
- // FourSixTwoSixAgg.ESRSlot memory ers = fourSixTwoSixAgg.getESRSlot();
- // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
- // assertEq(ers.interestLeft, 0);
-
- // vm.warp(block.timestamp + 2 days);
- // fourSixTwoSixAgg.gulp();
- // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
-
- // vm.warp(block.timestamp + 1 days);
- // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
- // uint256 yield;
- // {
- // uint256 aggrCurrentStrategyShareBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
- // uint256 aggrCurrentStrategyUnderlyingBalance = eTST.convertToAssets(aggrCurrentStrategyShareBalance);
- // uint256 aggrNewStrategyUnderlyingBalance = aggrCurrentStrategyUnderlyingBalance * 11e17 / 1e18;
- // yield = aggrNewStrategyUnderlyingBalance - aggrCurrentStrategyUnderlyingBalance;
- // assetTST.mint(address(eTST), yield);
- // eTST.skim(type(uint256).max, address(fourSixTwoSixAgg));
- // }
- // vm.prank(user1);
- // fourSixTwoSixAgg.harvest(address(eTST));
-
- // assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
-
- // vm.warp(block.timestamp + 1 days);
- // // interest per day 23.809523809523
- // assertEq(fourSixTwoSixAgg.interestAccrued(), 23809523809523809523);
- // fourSixTwoSixAgg.gulp();
- // ers = fourSixTwoSixAgg.getESRSlot();
- // assertEq(ers.interestLeft, yield - 23809523809523809523);
-
- // // move close to end of smearing
- // vm.warp(block.timestamp + 11 days);
- // fourSixTwoSixAgg.gulp();
- // ers = fourSixTwoSixAgg.getESRSlot();
- // // assertEq(ers.interestLeft, yield - 23809523809523809523*11);
-
- // // mock a decrease of strategy balance by ers.interestLeft
- // uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
- // uint256 aggrCurrentStrategyBalanceAfterNegYield = aggrCurrentStrategyBalance - ers.interestLeft;
- // vm.mockCall(
- // address(eTST),
- // abi.encodeWithSelector(EVault.balanceOf.selector, address(fourSixTwoSixAgg)),
- // abi.encode(aggrCurrentStrategyBalanceAfterNegYield)
- // );
- // vm.prank(user1);
- // fourSixTwoSixAgg.harvest(address(eTST));
- // }
-
- function testGulp() public {
+ function testGulpAfterNegativeYieldEqualToInterestLeft() public {
+ fourSixTwoSixAgg.gulp();
+ FourSixTwoSixAgg.ESRSlot memory ers = fourSixTwoSixAgg.getESRSlot();
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+ assertEq(ers.interestLeft, 0);
+
+ vm.warp(block.timestamp + 2 days);
+ fourSixTwoSixAgg.gulp();
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+
+ vm.warp(block.timestamp + 1 days);
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+ uint256 yield;
+ {
+ uint256 aggrCurrentStrategyShareBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ uint256 aggrCurrentStrategyUnderlyingBalance = eTST.convertToAssets(aggrCurrentStrategyShareBalance);
+ uint256 aggrNewStrategyUnderlyingBalance = aggrCurrentStrategyUnderlyingBalance * 11e17 / 1e18;
+ yield = aggrNewStrategyUnderlyingBalance - aggrCurrentStrategyUnderlyingBalance;
+ assetTST.mint(address(eTST), yield);
+ eTST.skim(type(uint256).max, address(fourSixTwoSixAgg));
+ }
+ vm.prank(user1);
+ fourSixTwoSixAgg.harvest(address(eTST));
+
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
+
+ vm.warp(block.timestamp + 1 days);
+ // interest per day 23.809523809523
+ assertEq(fourSixTwoSixAgg.interestAccrued(), 23809523809523809523);
+ fourSixTwoSixAgg.gulp();
+ ers = fourSixTwoSixAgg.getESRSlot();
+ assertEq(ers.interestLeft, yield - 23809523809523809523);
+
+ // move close to end of smearing
+ vm.warp(block.timestamp + 11 days);
+ fourSixTwoSixAgg.gulp();
+ ers = fourSixTwoSixAgg.getESRSlot();
+
+ // mock a decrease of strategy balance by ers.interestLeft
+ uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
+ uint256 aggrCurrentStrategyBalanceAfterNegYield = aggrCurrentStrategyBalance - ers.interestLeft;
+ vm.mockCall(
+ address(eTST),
+ abi.encodeWithSelector(EVault.balanceOf.selector, address(fourSixTwoSixAgg)),
+ abi.encode(aggrCurrentStrategyBalanceAfterNegYield)
+ );
+ vm.prank(user1);
+ fourSixTwoSixAgg.harvest(address(eTST));
+ }
+
+ function testGulpAfterNegativeYieldBiggerThanInterestLeft() public {
fourSixTwoSixAgg.gulp();
FourSixTwoSixAgg.ESRSlot memory ers = fourSixTwoSixAgg.getESRSlot();
assertEq(fourSixTwoSixAgg.interestAccrued(), 0);
@@ -141,7 +139,6 @@ contract GulpTest is FourSixTwoSixAggBase {
vm.warp(block.timestamp + 11 days);
fourSixTwoSixAgg.gulp();
ers = fourSixTwoSixAgg.getESRSlot();
- // assertEq(ers.interestLeft, yield - 23809523809523809523*11);
// mock a decrease of strategy balance by ers.interestLeft
uint256 aggrCurrentStrategyBalance = eTST.balanceOf(address(fourSixTwoSixAgg));
From 970ead04526ae40ec8ad0f62c1b945f0fe0e06e8 Mon Sep 17 00:00:00 2001
From: Haythem Sellami <17862704+haythemsellami@users.noreply.github.com>
Date: Mon, 3 Jun 2024 17:18:16 +0100
Subject: [PATCH 8/8] clean
---
src/FourSixTwoSixAgg.sol | 4 +---
1 file changed, 1 insertion(+), 3 deletions(-)
diff --git a/src/FourSixTwoSixAgg.sol b/src/FourSixTwoSixAgg.sol
index d15dd4fb..4ef2915d 100644
--- a/src/FourSixTwoSixAgg.sol
+++ b/src/FourSixTwoSixAgg.sol
@@ -10,8 +10,6 @@ import {EVCUtil, IEVC} from "ethereum-vault-connector/utils/EVCUtil.sol";
import {BalanceForwarder, IBalanceForwarder} from "./BalanceForwarder.sol";
import {IRewardStreams} from "reward-streams/interfaces/IRewardStreams.sol";
-import {Test, console2, stdError} from "forge-std/Test.sol";
-
/// @dev Do NOT use with fee on transfer tokens
/// @dev Do NOT use with rebasing tokens
/// @dev Based on https://github.com/euler-xyz/euler-vault-kit/blob/master/src/Synths/EulerSavingsRate.sol
@@ -246,7 +244,7 @@ contract FourSixTwoSixAgg is BalanceForwarder, EVCUtil, ERC4626, AccessControlEn
_gulp();
}
- /// @notice Harvest multiple strategie.
+ /// @notice Harvest multiple strategies.
/// @param _strategies an array of strategy addresses.
function harvestMultipleStrategies(address[] calldata _strategies) external nonReentrant {
for (uint256 i; i < _strategies.length; ++i) {