feat: add fractional redeem collection

ubiquity · Apr 5, 2024 · a9cd4a6 · a9cd4a6
1 parent 8b3bfb1
commit a9cd4a6
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Showing 4 changed files with 48 additions and 15 deletions.
diff --git a/packages/contracts/src/dollar/facets/UbiquityPoolFacet.sol b/packages/contracts/src/dollar/facets/UbiquityPoolFacet.sol
@@ -171,7 +171,11 @@ contract UbiquityPoolFacet is IUbiquityPool, Modifiers {
     /// @inheritdoc IUbiquityPool
     function collectRedemption(
         uint256 collateralIndex
-    ) external nonReentrant returns (uint256 collateralAmount) {
+    )
+        external
+        nonReentrant
+        returns (uint256 governanceAmount, uint256 collateralAmount)
+    {
         return LibUbiquityPool.collectRedemption(collateralIndex);
     }
 

diff --git a/packages/contracts/src/dollar/interfaces/IUbiquityPool.sol b/packages/contracts/src/dollar/interfaces/IUbiquityPool.sol
@@ -178,11 +178,12 @@ interface IUbiquityPool {
      * @dev 2. `collectRedemption()`
      * @dev This is done in order to prevent someone using a flash loan of a collateral token to mint, redeem, and collect in a single transaction/block
      * @param collateralIndex Collateral token index being collected
+     * @return governanceAmount Amount of Governance tokens redeemed
      * @return collateralAmount Amount of collateral tokens redeemed
      */
     function collectRedemption(
         uint256 collateralIndex
-    ) external returns (uint256 collateralAmount);
+    ) external returns (uint256 governanceAmount, uint256 collateralAmount);
 
     /**
      * @notice Updates collateral token price in USD from ChainLink price feed

diff --git a/packages/contracts/src/dollar/libraries/LibUbiquityPool.sol b/packages/contracts/src/dollar/libraries/LibUbiquityPool.sol
@@ -698,20 +698,21 @@ library LibUbiquityPool {
     }
 
     /**
-     * @notice Used to collect collateral tokens after redeeming/burning Ubiquity Dollars
+     * @notice Used to collect collateral and Governance tokens after redeeming/burning Ubiquity Dollars
      * @dev Redeem process is split in two steps:
      * @dev 1. `redeemDollar()`
      * @dev 2. `collectRedemption()`
      * @dev This is done in order to prevent someone using a flash loan of a collateral token to mint, redeem, and collect in a single transaction/block
      * @param collateralIndex Collateral token index being collected
+     * @return governanceAmount Amount of Governance tokens redeemed
      * @return collateralAmount Amount of collateral tokens redeemed
      */
     function collectRedemption(
         uint256 collateralIndex
     )
         internal
         collateralEnabled(collateralIndex)
-        returns (uint256 collateralAmount)
+        returns (uint256 governanceAmount, uint256 collateralAmount)
     {
         UbiquityPoolStorage storage poolStorage = ubiquityPoolStorage();
 
@@ -728,8 +729,18 @@ library LibUbiquityPool {
             "Too soon to collect redemption"
         );
 
+        bool sendGovernance = false;
         bool sendCollateral = false;
 
+        if (poolStorage.redeemGovernanceBalances[msg.sender] > 0) {
+            governanceAmount = poolStorage.redeemGovernanceBalances[msg.sender];
+            poolStorage.redeemGovernanceBalances[msg.sender] = 0;
+            poolStorage.unclaimedPoolGovernance = poolStorage
+                .unclaimedPoolGovernance
+                .sub(governanceAmount);
+            sendGovernance = true;
+        }
+
         if (
             poolStorage.redeemCollateralBalances[msg.sender][collateralIndex] >
             0
@@ -746,7 +757,11 @@ library LibUbiquityPool {
             sendCollateral = true;
         }
 
-        // send out the tokens
+        // send out tokens
+        if (sendGovernance) {
+            IERC20(LibAppStorage.appStorage().governanceTokenAddress)
+                .safeTransfer(msg.sender, governanceAmount);
+        }
         if (sendCollateral) {
             IERC20(poolStorage.collateralAddresses[collateralIndex])
                 .safeTransfer(msg.sender, collateralAmount);

diff --git a/packages/contracts/test/diamond/facets/UbiquityPoolFacet.t.sol b/packages/contracts/test/diamond/facets/UbiquityPoolFacet.t.sol
@@ -1011,18 +1011,22 @@ contract UbiquityPoolFacetTest is DiamondTestSetup {
             1000000 // redeem threshold
         );
 
-        // user sends 100 collateral tokens and gets 99 Dollars (-1% mint fee)
+        // admin sets collateral ratio to 95%
+        vm.prank(admin);
+        ubiquityPoolFacet.setCollateralRatio(950_000);
+
+        // user burns 50 Governance tokens (worth $0.1) + 95 collateral tokens and gets 99 Dollars (-1% mint fee)
         vm.prank(user);
         ubiquityPoolFacet.mintDollar(
             0, // collateral index
             100e18, // Dollar amount
             99e18, // min amount of Dollars to mint
             100e18, // max collateral to send
-            0, // max Governance tokens to send
+            1100e18, // max Governance tokens to send
             false // force 1-to-1 mint (i.e. provide only collateral without Governance tokens)
         );
 
-        // user redeems 99 Dollars for collateral
+        // user redeems 99 Dollars for collateral and Governance tokens
         vm.prank(user);
         ubiquityPoolFacet.redeemDollar(
             0, // collateral index
@@ -1035,19 +1039,28 @@ contract UbiquityPoolFacetTest is DiamondTestSetup {
         vm.roll(block.number + 3);
 
         // balances before
-        assertEq(collateralToken.balanceOf(address(ubiquityPoolFacet)), 100e18);
-        assertEq(collateralToken.balanceOf(user), 0);
+        assertEq(collateralToken.balanceOf(address(ubiquityPoolFacet)), 95e18);
+        assertEq(collateralToken.balanceOf(user), 5e18);
+        assertEq(
+            governanceToken.balanceOf(address(ubiquityPoolFacet)),
+            48510485104851048510
+        ); // ~48
+        assertEq(governanceToken.balanceOf(user), 1949999499994999950000); // ~1950
 
         vm.prank(user);
-        uint256 collateralAmount = ubiquityPoolFacet.collectRedemption(0);
-        assertEq(collateralAmount, 97.02e18); // $99 - 2% redemption fee
+        (uint256 governanceAmount, uint256 collateralAmount) = ubiquityPoolFacet
+            .collectRedemption(0);
+        assertEq(governanceAmount, 48510485104851048510); // ~48
+        assertEq(collateralAmount, 92169000000000000000); // ~92 = $95 - 2% redemption fee
 
         // balances after
         assertEq(
             collateralToken.balanceOf(address(ubiquityPoolFacet)),
-            2.98e18
-        );
-        assertEq(collateralToken.balanceOf(user), 97.02e18);
+            2.831 ether
+        ); // redemption fee left in the pool
+        assertEq(collateralToken.balanceOf(user), 97.169 ether);
+        assertEq(governanceToken.balanceOf(address(ubiquityPoolFacet)), 0);
+        assertEq(governanceToken.balanceOf(user), 1998509985099850998510); // ~1998
     }
 
     function testCollectRedemption_ShouldRevert_IfCollateralDisabled() public {