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Add tests for credit allocations
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@0xJem
0xJem committed Aug 12, 2024
1 parent b3c3414 commit 5727a92
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Showing 2 changed files with 110 additions and 32 deletions.
17 changes: 14 additions & 3 deletions test/callbacks/liquidity/BaselineV2/BaselineAxisLaunchTest.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -72,6 +72,9 @@ abstract contract BaselineAxisLaunchTest is Test, Permit2User, WithSalts, TestCo
int24 internal _floorRangeGap;
uint256 internal _curatorFee;

uint256 internal _proceeds = _PROCEEDS_AMOUNT;
uint256 internal _refund = _REFUND_AMOUNT;

uint48 internal constant _START = 1_000_000;

uint96 internal _lotId = 1;
Expand Down Expand Up @@ -355,17 +358,25 @@ abstract contract BaselineAxisLaunchTest is Test, Permit2User, WithSalts, TestCo
_;
}

function _onSettle() internal {
function _onSettle(bytes memory err_) internal {
console2.log("");
console2.log("Calling onSettle callback");

uint256 capacityRefund = _scaleBaseTokenAmount(_REFUND_AMOUNT);
uint256 capacityRefund = _scaleBaseTokenAmount(_refund);
console2.log("capacity refund", capacityRefund);
uint256 curatorFeeRefund = capacityRefund * _curatorFee / _LOT_CAPACITY;
console2.log("curator fee refund", curatorFeeRefund);

if (err_.length > 0) {
vm.expectRevert(err_);
}

vm.prank(address(_auctionHouse));
_dtl.onSettle(_lotId, _PROCEEDS_AMOUNT, capacityRefund + curatorFeeRefund, abi.encode(""));
_dtl.onSettle(_lotId, _proceeds, capacityRefund + curatorFeeRefund, abi.encode(""));
}

function _onSettle() internal {
_onSettle("");
}

modifier givenOnSettle() {
Expand Down
125 changes: 96 additions & 29 deletions test/callbacks/liquidity/BaselineV2/onSettle.t.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -11,8 +11,6 @@ import {FixedPointMathLib} from "@solmate-6.7.0/utils/FixedPointMathLib.sol";
import {IUniswapV3Pool} from
"@uniswap-v3-core-1.0.1-solc-0.8-simulate/interfaces/IUniswapV3Pool.sol";
import {TickMath} from "@uniswap-v3-core-1.0.1-solc-0.8-simulate/libraries/TickMath.sol";
import {LiquidityAmounts} from "@uniswap-v3-periphery-1.4.2-solc-0.8/libraries/LiquidityAmounts.sol";
import {PoolAddress} from "@uniswap-v3-periphery-1.4.2-solc-0.8/libraries/PoolAddress.sol";

import {console2} from "@forge-std-1.9.1/console2.sol";

Expand All @@ -23,20 +21,24 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {

// ============ Modifiers ============ //

modifier givenFullCapacity() {
_proceeds = 30e18;
_refund = 0;
_;
}

// ============ Assertions ============ //

function _assertQuoteTokenBalances() internal view {
assertEq(_quoteToken.balanceOf(_dtlAddress), 0, "quote token: callback");
assertEq(_quoteToken.balanceOf(address(_quoteToken)), 0, "quote token: contract");
uint256 poolProceeds = _PROCEEDS_AMOUNT * _createData.poolPercent / 100e2;
uint256 poolProceeds = _proceeds * _createData.poolPercent / 100e2;
assertEq(
_quoteToken.balanceOf(address(_baseToken.pool())),
poolProceeds + _additionalQuoteTokensMinted,
"quote token: pool"
);
assertEq(
_quoteToken.balanceOf(_SELLER), _PROCEEDS_AMOUNT - poolProceeds, "quote token: seller"
);
assertEq(_quoteToken.balanceOf(_SELLER), _proceeds - poolProceeds, "quote token: seller");
}

function _assertBaseTokenBalances(uint256 curatorFee_) internal view {
Expand All @@ -47,10 +49,11 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
console2.log("totalSupply", totalSupply);

// No payout distributed to "bidders", so don't account for it here
uint256 spotSupply = _LOT_CAPACITY - _REFUND_AMOUNT;
uint256 spotSupply = _LOT_CAPACITY - _refund;
console2.log("spotSupply", spotSupply);

uint256 poolSupply = totalSupply - spotSupply - curatorFee_;
uint256 poolSupply =
totalSupply - spotSupply - curatorFee_ - _creditModule.totalCollateralized();
assertEq(_baseToken.balanceOf(address(_baseToken.pool())), poolSupply, "base token: pool");
assertEq(_baseToken.balanceOf(_SELLER), 0, "base token: seller");
}
Expand All @@ -61,8 +64,8 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
assertApproxEqAbs(
totalSupply - _baseToken.getPosition(Range.FLOOR).bAssets
- _baseToken.getPosition(Range.ANCHOR).bAssets
- _baseToken.getPosition(Range.DISCOVERY).bAssets - _creditModule.totalCreditIssued(), // totalCreditIssued would affect supply, totalCollateralized will not
_LOT_CAPACITY - _REFUND_AMOUNT + curatorFee_,
- _baseToken.getPosition(Range.DISCOVERY).bAssets,
_LOT_CAPACITY - _refund + curatorFee_ + _creditModule.totalCollateralized(),
2, // There is a difference (rounding error?) of 2
"circulating supply"
);
Expand All @@ -73,7 +76,7 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
}

function _assertPoolReserves() internal view {
uint256 poolProceeds = _PROCEEDS_AMOUNT * _createData.poolPercent / 100e2;
uint256 poolProceeds = _proceeds * _createData.poolPercent / 100e2;
uint256 floorProceeds = poolProceeds * _createData.floorReservesPercent / 100e2;
assertApproxEqAbs(
_getRangeReserves(Range.FLOOR),
Expand Down Expand Up @@ -362,10 +365,11 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
givenBPoolIsCreated
givenCallbackIsCreated
givenAuctionIsCreated
givenCollateralized(1e18)
givenPoolPercent(92e2) // For the solvency check
givenCollateralized(_BORROWER, 1e18)
givenOnCreate
givenAddressHasQuoteTokenBalance(_dtlAddress, _PROCEEDS_AMOUNT)
givenBaseTokenRefundIsTransferred(_REFUND_AMOUNT)
givenAddressHasQuoteTokenBalance(_dtlAddress, _proceeds)
givenBaseTokenRefundIsTransferred(_refund)
{
// Perform callback
_onSettle();
Expand All @@ -377,18 +381,17 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
_assertPoolReserves();
}

function test_givenCreditAllocations_middle()
function test_givenCreditAllocations_low_givenFullCapacity()
public
givenBPoolIsCreated
givenCallbackIsCreated
givenAuctionIsCreated
givenCollateralized(10e18)
givenAnchorTickWidth(36) // For the solvency check
givenFloorReservesPercent(94e2) // For the solvency check
givenPoolPercent(100e2) // For the solvency check
givenPoolPercent(92e2) // For the solvency check
givenCollateralized(_BORROWER, 1e18)
givenOnCreate
givenAddressHasQuoteTokenBalance(_dtlAddress, _PROCEEDS_AMOUNT)
givenBaseTokenRefundIsTransferred(_REFUND_AMOUNT)
givenFullCapacity
givenAddressHasQuoteTokenBalance(_dtlAddress, _proceeds)
givenBaseTokenRefundIsTransferred(_refund)
{
// Perform callback
_onSettle();
Expand All @@ -400,15 +403,83 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
_assertPoolReserves();
}

function test_givenCreditAllocations_high()
function test_givenCreditAllocations_middle_reverts()
public
givenBPoolIsCreated
givenCallbackIsCreated
givenAuctionIsCreated
givenCollateralized(20e18)
givenAnchorTickWidth(20) // For the solvency check
givenFloorReservesPercent(25e2) // For the solvency check
givenPoolPercent(99e2) // For the solvency check
givenCollateralized(_BORROWER, 5e18)
givenOnCreate
givenAddressHasQuoteTokenBalance(_dtlAddress, _PROCEEDS_AMOUNT)
givenBaseTokenRefundIsTransferred(_REFUND_AMOUNT)
givenAddressHasQuoteTokenBalance(_dtlAddress, _proceeds)
givenBaseTokenRefundIsTransferred(_refund)
{
// Expect revert
// The solvency check fails due to the refund
bytes memory err =
abi.encodeWithSelector(BaselineAxisLaunch.Callback_InvalidInitialization.selector);

// Perform callback
_onSettle(err);
}

function test_givenCreditAllocations_middle_givenFullCapacity()
public
givenBPoolIsCreated
givenCallbackIsCreated
givenAuctionIsCreated
givenAnchorTickWidth(20) // For the solvency check
givenFloorReservesPercent(25e2) // For the solvency check
givenPoolPercent(99e2) // For the solvency check
givenCollateralized(_BORROWER, 5e18)
givenOnCreate
givenFullCapacity
givenAddressHasQuoteTokenBalance(_dtlAddress, _proceeds)
givenBaseTokenRefundIsTransferred(_refund)
{
// Perform callback
_onSettle();

_assertQuoteTokenBalances();
_assertBaseTokenBalances(0);
_assertCirculatingSupply(0);
_assertAuctionComplete();
_assertPoolReserves();
}

function test_givenCreditAllocations_high_reverts()
public
givenBPoolIsCreated
givenCallbackIsCreated
givenAuctionIsCreated
givenAnchorTickWidth(31) // For the solvency check
givenCollateralized(_BORROWER, 10e18)
givenOnCreate
givenAddressHasQuoteTokenBalance(_dtlAddress, _proceeds)
givenBaseTokenRefundIsTransferred(_refund)
{
// Expect revert
// The solvency check fails due to the refund
bytes memory err =
abi.encodeWithSelector(BaselineAxisLaunch.Callback_InvalidInitialization.selector);

// Perform callback
_onSettle(err);
}

function test_givenCreditAllocations_high_givenFullCapacity()
public
givenBPoolIsCreated
givenCallbackIsCreated
givenAuctionIsCreated
givenAnchorTickWidth(31) // For the solvency check
givenCollateralized(_BORROWER, 10e18)
givenOnCreate
givenFullCapacity
givenAddressHasQuoteTokenBalance(_dtlAddress, _proceeds)
givenBaseTokenRefundIsTransferred(_refund)
{
// Perform callback
_onSettle();
Expand Down Expand Up @@ -665,8 +736,6 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
(, poolTick,,,,,) = _baseToken.pool().slot0();
assertEq(poolTick, 11_000, "pool tick after settlement"); // Ends up rounded to the tick spacing

// TODO supply and quote token balances will be different

_assertQuoteTokenBalances();
_assertBaseTokenBalances(0);
// _assertCirculatingSupply(0); // Difficult to calculate the additional base tokens minted
Expand Down Expand Up @@ -743,8 +812,6 @@ contract BaselineOnSettleTest is BaselineAxisLaunchTest {
(, poolTick,,,,,) = _baseToken.pool().slot0();
assertEq(poolTick, 11_000, "pool tick after settlement"); // Ends up rounded to the tick spacing

// TODO supply and quote token balances will be different

_assertQuoteTokenBalances();
_assertBaseTokenBalances(0);
_assertCirculatingSupply(0);
Expand Down

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