const { constants, expectEvent, expectRevert } = require('@openzeppelin/test-helpers'); const { expect } = require('chai'); const { Enum } = require('../../../helpers/enums'); const { expectRevertCustomError } = require('../../../helpers/customError'); const ERC20Decimals = artifacts.require('$ERC20DecimalsMock'); const ERC4626 = artifacts.require('$ERC4626'); const ERC4626LimitsMock = artifacts.require('$ERC4626LimitsMock'); const ERC4626OffsetMock = artifacts.require('$ERC4626OffsetMock'); const ERC4626FeesMock = artifacts.require('$ERC4626FeesMock'); const ERC20ExcessDecimalsMock = artifacts.require('ERC20ExcessDecimalsMock'); const ERC20Reentrant = artifacts.require('$ERC20Reentrant'); contract('ERC4626', function (accounts) { const [holder, recipient, spender, other, user1, user2] = accounts; const name = 'My Token'; const symbol = 'MTKN'; const decimals = web3.utils.toBN(18); it('inherit decimals if from asset', async function () { for (const decimals of [0, 9, 12, 18, 36].map(web3.utils.toBN)) { const token = await ERC20Decimals.new('', '', decimals); const vault = await ERC4626.new('', '', token.address); expect(await vault.decimals()).to.be.bignumber.equal(decimals); } }); it('asset has not yet been created', async function () { const vault = await ERC4626.new('', '', other); expect(await vault.decimals()).to.be.bignumber.equal(decimals); }); it('underlying excess decimals', async function () { const token = await ERC20ExcessDecimalsMock.new(); const vault = await ERC4626.new('', '', token.address); expect(await vault.decimals()).to.be.bignumber.equal(decimals); }); it('decimals overflow', async function () { for (const offset of [243, 250, 255].map(web3.utils.toBN)) { const token = await ERC20Decimals.new('', '', decimals); const vault = await ERC4626OffsetMock.new(name + ' Vault', symbol + 'V', token.address, offset); await expectRevert( vault.decimals(), 'reverted with panic code 0x11 (Arithmetic operation underflowed or overflowed outside of an unchecked block)', ); } }); describe('reentrancy', async function () { const reenterType = Enum('No', 'Before', 'After'); const value = web3.utils.toBN(1000000000000000000); const reenterValue = web3.utils.toBN(1000000000); let token; let vault; beforeEach(async function () { token = await ERC20Reentrant.new(); // Use offset 1 so the rate is not 1:1 and we can't possibly confuse assets and shares vault = await ERC4626OffsetMock.new('', '', token.address, 1); // Funds and approval for tests await token.$_mint(holder, value); await token.$_mint(other, value); await token.$_approve(holder, vault.address, constants.MAX_UINT256); await token.$_approve(other, vault.address, constants.MAX_UINT256); await token.$_approve(token.address, vault.address, constants.MAX_UINT256); }); // During a `_deposit`, the vault does `transferFrom(depositor, vault, assets)` -> `_mint(receiver, shares)` // such that a reentrancy BEFORE the transfer guarantees the price is kept the same. // If the order of transfer -> mint is changed to mint -> transfer, the reentrancy could be triggered on an // intermediate state in which the ratio of assets/shares has been decreased (more shares than assets). it('correct share price is observed during reentrancy before deposit', async function () { // mint token for deposit await token.$_mint(token.address, reenterValue); // Schedules a reentrancy from the token contract await token.scheduleReenter( reenterType.Before, vault.address, vault.contract.methods.deposit(reenterValue, holder).encodeABI(), ); // Initial share price const sharesForDeposit = await vault.previewDeposit(value, { from: holder }); const sharesForReenter = await vault.previewDeposit(reenterValue, { from: holder }); // Deposit normally, reentering before the internal `_update` const receipt = await vault.deposit(value, holder, { from: holder }); // Main deposit event await expectEvent(receipt, 'Deposit', { sender: holder, owner: holder, assets: value, shares: sharesForDeposit, }); // Reentrant deposit event → uses the same price await expectEvent(receipt, 'Deposit', { sender: token.address, owner: holder, assets: reenterValue, shares: sharesForReenter, }); // Assert prices is kept const sharesAfter = await vault.previewDeposit(value, { from: holder }); expect(sharesForDeposit).to.be.bignumber.eq(sharesAfter); }); // During a `_withdraw`, the vault does `_burn(owner, shares)` -> `transfer(receiver, assets)` // such that a reentrancy AFTER the transfer guarantees the price is kept the same. // If the order of burn -> transfer is changed to transfer -> burn, the reentrancy could be triggered on an // intermediate state in which the ratio of shares/assets has been decreased (more assets than shares). it('correct share price is observed during reentrancy after withdraw', async function () { // Deposit into the vault: holder gets `value` share, token.address gets `reenterValue` shares await vault.deposit(value, holder, { from: holder }); await vault.deposit(reenterValue, token.address, { from: other }); // Schedules a reentrancy from the token contract await token.scheduleReenter( reenterType.After, vault.address, vault.contract.methods.withdraw(reenterValue, holder, token.address).encodeABI(), ); // Initial share price const sharesForWithdraw = await vault.previewWithdraw(value, { from: holder }); const sharesForReenter = await vault.previewWithdraw(reenterValue, { from: holder }); // Do withdraw normally, triggering the _afterTokenTransfer hook const receipt = await vault.withdraw(value, holder, holder, { from: holder }); // Main withdraw event await expectEvent(receipt, 'Withdraw', { sender: holder, receiver: holder, owner: holder, assets: value, shares: sharesForWithdraw, }); // Reentrant withdraw event → uses the same price await expectEvent(receipt, 'Withdraw', { sender: token.address, receiver: holder, owner: token.address, assets: reenterValue, shares: sharesForReenter, }); // Assert price is kept const sharesAfter = await vault.previewWithdraw(value, { from: holder }); expect(sharesForWithdraw).to.be.bignumber.eq(sharesAfter); }); // Donate newly minted tokens to the vault during the reentracy causes the share price to increase. // Still, the deposit that trigger the reentracy is not affected and get the previewed price. // Further deposits will get a different price (getting fewer shares for the same value of assets) it('share price change during reentracy does not affect deposit', async function () { // Schedules a reentrancy from the token contract that mess up the share price await token.scheduleReenter( reenterType.Before, token.address, token.contract.methods.$_mint(vault.address, reenterValue).encodeABI(), ); // Price before const sharesBefore = await vault.previewDeposit(value); // Deposit, reentering before the internal `_update` const receipt = await vault.deposit(value, holder, { from: holder }); // Price is as previewed await expectEvent(receipt, 'Deposit', { sender: holder, owner: holder, assets: value, shares: sharesBefore, }); // Price was modified during reentrancy const sharesAfter = await vault.previewDeposit(value); expect(sharesAfter).to.be.bignumber.lt(sharesBefore); }); // Burn some tokens from the vault during the reentracy causes the share price to drop. // Still, the withdraw that trigger the reentracy is not affected and get the previewed price. // Further withdraw will get a different price (needing more shares for the same value of assets) it('share price change during reentracy does not affect withdraw', async function () { await vault.deposit(value, other, { from: other }); await vault.deposit(value, holder, { from: holder }); // Schedules a reentrancy from the token contract that mess up the share price await token.scheduleReenter( reenterType.After, token.address, token.contract.methods.$_burn(vault.address, reenterValue).encodeABI(), ); // Price before const sharesBefore = await vault.previewWithdraw(value); // Withdraw, triggering the _afterTokenTransfer hook const receipt = await vault.withdraw(value, holder, holder, { from: holder }); // Price is as previewed await expectEvent(receipt, 'Withdraw', { sender: holder, receiver: holder, owner: holder, assets: value, shares: sharesBefore, }); // Price was modified during reentrancy const sharesAfter = await vault.previewWithdraw(value); expect(sharesAfter).to.be.bignumber.gt(sharesBefore); }); }); describe('limits', async function () { beforeEach(async function () { this.token = await ERC20Decimals.new(name, symbol, decimals); this.vault = await ERC4626LimitsMock.new(name + ' Vault', symbol + 'V', this.token.address); }); it('reverts on deposit() above max deposit', async function () { const maxDeposit = await this.vault.maxDeposit(holder); await expectRevertCustomError(this.vault.deposit(maxDeposit.addn(1), recipient), 'ERC4626ExceededMaxDeposit', [ recipient, maxDeposit.addn(1), maxDeposit, ]); }); it('reverts on mint() above max mint', async function () { const maxMint = await this.vault.maxMint(holder); await expectRevertCustomError(this.vault.mint(maxMint.addn(1), recipient), 'ERC4626ExceededMaxMint', [ recipient, maxMint.addn(1), maxMint, ]); }); it('reverts on withdraw() above max withdraw', async function () { const maxWithdraw = await this.vault.maxWithdraw(holder); await expectRevertCustomError( this.vault.withdraw(maxWithdraw.addn(1), recipient, holder), 'ERC4626ExceededMaxWithdraw', [holder, maxWithdraw.addn(1), maxWithdraw], ); }); it('reverts on redeem() above max redeem', async function () { const maxRedeem = await this.vault.maxRedeem(holder); await expectRevertCustomError( this.vault.redeem(maxRedeem.addn(1), recipient, holder), 'ERC4626ExceededMaxRedeem', [holder, maxRedeem.addn(1), maxRedeem], ); }); }); for (const offset of [0, 6, 18].map(web3.utils.toBN)) { const parseToken = token => web3.utils.toBN(10).pow(decimals).muln(token); const parseShare = share => web3.utils.toBN(10).pow(decimals.add(offset)).muln(share); const virtualAssets = web3.utils.toBN(1); const virtualShares = web3.utils.toBN(10).pow(offset); describe(`offset: ${offset}`, function () { beforeEach(async function () { this.token = await ERC20Decimals.new(name, symbol, decimals); this.vault = await ERC4626OffsetMock.new(name + ' Vault', symbol + 'V', this.token.address, offset); await this.token.$_mint(holder, constants.MAX_INT256); // 50% of maximum await this.token.approve(this.vault.address, constants.MAX_UINT256, { from: holder }); await this.vault.approve(spender, constants.MAX_UINT256, { from: holder }); }); it('metadata', async function () { expect(await this.vault.name()).to.be.equal(name + ' Vault'); expect(await this.vault.symbol()).to.be.equal(symbol + 'V'); expect(await this.vault.decimals()).to.be.bignumber.equal(decimals.add(offset)); expect(await this.vault.asset()).to.be.equal(this.token.address); }); describe('empty vault: no assets & no shares', function () { it('status', async function () { expect(await this.vault.totalAssets()).to.be.bignumber.equal('0'); }); it('deposit', async function () { expect(await this.vault.maxDeposit(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewDeposit(parseToken(1))).to.be.bignumber.equal(parseShare(1)); const { tx } = await this.vault.deposit(parseToken(1), recipient, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1), }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); await expectEvent.inTransaction(tx, this.vault, 'Deposit', { sender: holder, owner: recipient, assets: parseToken(1), shares: parseShare(1), }); }); it('mint', async function () { expect(await this.vault.maxMint(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewMint(parseShare(1))).to.be.bignumber.equal(parseToken(1)); const { tx } = await this.vault.mint(parseShare(1), recipient, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1), }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); await expectEvent.inTransaction(tx, this.vault, 'Deposit', { sender: holder, owner: recipient, assets: parseToken(1), shares: parseShare(1), }); }); it('withdraw', async function () { expect(await this.vault.maxWithdraw(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewWithdraw('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.withdraw('0', recipient, holder, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Withdraw', { sender: holder, receiver: recipient, owner: holder, assets: '0', shares: '0', }); }); it('redeem', async function () { expect(await this.vault.maxRedeem(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewRedeem('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.redeem('0', recipient, holder, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Withdraw', { sender: holder, receiver: recipient, owner: holder, assets: '0', shares: '0', }); }); }); describe('inflation attack: offset price by direct deposit of assets', function () { beforeEach(async function () { // Donate 1 token to the vault to offset the price await this.token.$_mint(this.vault.address, parseToken(1)); }); it('status', async function () { expect(await this.vault.totalSupply()).to.be.bignumber.equal('0'); expect(await this.vault.totalAssets()).to.be.bignumber.equal(parseToken(1)); }); /** * | offset | deposited assets | redeemable assets | * |--------|----------------------|----------------------| * | 0 | 1.000000000000000000 | 0. | * | 6 | 1.000000000000000000 | 0.999999000000000000 | * | 18 | 1.000000000000000000 | 0.999999999999999999 | * * Attack is possible, but made difficult by the offset. For the attack to be successful * the attacker needs to frontrun a deposit 10**offset times bigger than what the victim * was trying to deposit */ it('deposit', async function () { const effectiveAssets = await this.vault.totalAssets().then(x => x.add(virtualAssets)); const effectiveShares = await this.vault.totalSupply().then(x => x.add(virtualShares)); const depositAssets = parseToken(1); const expectedShares = depositAssets.mul(effectiveShares).div(effectiveAssets); expect(await this.vault.maxDeposit(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewDeposit(depositAssets)).to.be.bignumber.equal(expectedShares); const { tx } = await this.vault.deposit(depositAssets, recipient, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: depositAssets, }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: expectedShares, }); await expectEvent.inTransaction(tx, this.vault, 'Deposit', { sender: holder, owner: recipient, assets: depositAssets, shares: expectedShares, }); }); /** * | offset | deposited assets | redeemable assets | * |--------|----------------------|----------------------| * | 0 | 1000000000000000001. | 1000000000000000001. | * | 6 | 1000000000000000001. | 1000000000000000001. | * | 18 | 1000000000000000001. | 1000000000000000001. | * * Using mint protects against inflation attack, but makes minting shares very expensive. * The ER20 allowance for the underlying asset is needed to protect the user from (too) * large deposits. */ it('mint', async function () { const effectiveAssets = await this.vault.totalAssets().then(x => x.add(virtualAssets)); const effectiveShares = await this.vault.totalSupply().then(x => x.add(virtualShares)); const mintShares = parseShare(1); const expectedAssets = mintShares.mul(effectiveAssets).div(effectiveShares); expect(await this.vault.maxMint(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewMint(mintShares)).to.be.bignumber.equal(expectedAssets); const { tx } = await this.vault.mint(mintShares, recipient, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: expectedAssets, }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: mintShares, }); await expectEvent.inTransaction(tx, this.vault, 'Deposit', { sender: holder, owner: recipient, assets: expectedAssets, shares: mintShares, }); }); it('withdraw', async function () { expect(await this.vault.maxWithdraw(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewWithdraw('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.withdraw('0', recipient, holder, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Withdraw', { sender: holder, receiver: recipient, owner: holder, assets: '0', shares: '0', }); }); it('redeem', async function () { expect(await this.vault.maxRedeem(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewRedeem('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.redeem('0', recipient, holder, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); await expectEvent.inTransaction(tx, this.vault, 'Withdraw', { sender: holder, receiver: recipient, owner: holder, assets: '0', shares: '0', }); }); }); describe('full vault: assets & shares', function () { beforeEach(async function () { // Add 1 token of underlying asset and 100 shares to the vault await this.token.$_mint(this.vault.address, parseToken(1)); await this.vault.$_mint(holder, parseShare(100)); }); it('status', async function () { expect(await this.vault.totalSupply()).to.be.bignumber.equal(parseShare(100)); expect(await this.vault.totalAssets()).to.be.bignumber.equal(parseToken(1)); }); /** * | offset | deposited assets | redeemable assets | * |--------|--------------------- |----------------------| * | 0 | 1.000000000000000000 | 0.999999999999999999 | * | 6 | 1.000000000000000000 | 0.999999999999999999 | * | 18 | 1.000000000000000000 | 0.999999999999999999 | * * Virtual shares & assets captures part of the value */ it('deposit', async function () { const effectiveAssets = await this.vault.totalAssets().then(x => x.add(virtualAssets)); const effectiveShares = await this.vault.totalSupply().then(x => x.add(virtualShares)); const depositAssets = parseToken(1); const expectedShares = depositAssets.mul(effectiveShares).div(effectiveAssets); expect(await this.vault.maxDeposit(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewDeposit(depositAssets)).to.be.bignumber.equal(expectedShares); const { tx } = await this.vault.deposit(depositAssets, recipient, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: depositAssets, }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: expectedShares, }); await expectEvent.inTransaction(tx, this.vault, 'Deposit', { sender: holder, owner: recipient, assets: depositAssets, shares: expectedShares, }); }); /** * | offset | deposited assets | redeemable assets | * |--------|--------------------- |----------------------| * | 0 | 0.010000000000000001 | 0.010000000000000000 | * | 6 | 0.010000000000000001 | 0.010000000000000000 | * | 18 | 0.010000000000000001 | 0.010000000000000000 | * * Virtual shares & assets captures part of the value */ it('mint', async function () { const effectiveAssets = await this.vault.totalAssets().then(x => x.add(virtualAssets)); const effectiveShares = await this.vault.totalSupply().then(x => x.add(virtualShares)); const mintShares = parseShare(1); const expectedAssets = mintShares.mul(effectiveAssets).div(effectiveShares).addn(1); // add for the rounding expect(await this.vault.maxMint(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewMint(mintShares)).to.be.bignumber.equal(expectedAssets); const { tx } = await this.vault.mint(mintShares, recipient, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: expectedAssets, }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: mintShares, }); await expectEvent.inTransaction(tx, this.vault, 'Deposit', { sender: holder, owner: recipient, assets: expectedAssets, shares: mintShares, }); }); it('withdraw', async function () { const effectiveAssets = await this.vault.totalAssets().then(x => x.add(virtualAssets)); const effectiveShares = await this.vault.totalSupply().then(x => x.add(virtualShares)); const withdrawAssets = parseToken(1); const expectedShares = withdrawAssets.mul(effectiveShares).div(effectiveAssets).addn(1); // add for the rounding expect(await this.vault.maxWithdraw(holder)).to.be.bignumber.equal(withdrawAssets); expect(await this.vault.previewWithdraw(withdrawAssets)).to.be.bignumber.equal(expectedShares); const { tx } = await this.vault.withdraw(withdrawAssets, recipient, holder, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: withdrawAssets, }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: expectedShares, }); await expectEvent.inTransaction(tx, this.vault, 'Withdraw', { sender: holder, receiver: recipient, owner: holder, assets: withdrawAssets, shares: expectedShares, }); }); it('withdraw with approval', async function () { const assets = await this.vault.previewWithdraw(parseToken(1)); await expectRevertCustomError( this.vault.withdraw(parseToken(1), recipient, holder, { from: other }), 'ERC20InsufficientAllowance', [other, 0, assets], ); await this.vault.withdraw(parseToken(1), recipient, holder, { from: spender }); }); it('redeem', async function () { const effectiveAssets = await this.vault.totalAssets().then(x => x.add(virtualAssets)); const effectiveShares = await this.vault.totalSupply().then(x => x.add(virtualShares)); const redeemShares = parseShare(100); const expectedAssets = redeemShares.mul(effectiveAssets).div(effectiveShares); expect(await this.vault.maxRedeem(holder)).to.be.bignumber.equal(redeemShares); expect(await this.vault.previewRedeem(redeemShares)).to.be.bignumber.equal(expectedAssets); const { tx } = await this.vault.redeem(redeemShares, recipient, holder, { from: holder }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: expectedAssets, }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: redeemShares, }); await expectEvent.inTransaction(tx, this.vault, 'Withdraw', { sender: holder, receiver: recipient, owner: holder, assets: expectedAssets, shares: redeemShares, }); }); it('redeem with approval', async function () { await expectRevertCustomError( this.vault.redeem(parseShare(100), recipient, holder, { from: other }), 'ERC20InsufficientAllowance', [other, 0, parseShare(100)], ); await this.vault.redeem(parseShare(100), recipient, holder, { from: spender }); }); }); }); } describe('ERC4626Fees', function () { const feeBasisPoints = web3.utils.toBN(5e3); const valueWithoutFees = web3.utils.toBN(10000); const fees = valueWithoutFees.mul(feeBasisPoints).divn(1e4); const valueWithFees = valueWithoutFees.add(fees); describe('input fees', function () { beforeEach(async function () { this.token = await ERC20Decimals.new(name, symbol, 18); this.vault = await ERC4626FeesMock.new( name + ' Vault', symbol + 'V', this.token.address, feeBasisPoints, other, 0, constants.ZERO_ADDRESS, ); await this.token.$_mint(holder, constants.MAX_INT256); await this.token.approve(this.vault.address, constants.MAX_INT256, { from: holder }); }); it('deposit', async function () { expect(await this.vault.previewDeposit(valueWithFees)).to.be.bignumber.equal(valueWithoutFees); ({ tx: this.tx } = await this.vault.deposit(valueWithFees, recipient, { from: holder })); }); it('mint', async function () { expect(await this.vault.previewMint(valueWithoutFees)).to.be.bignumber.equal(valueWithFees); ({ tx: this.tx } = await this.vault.mint(valueWithoutFees, recipient, { from: holder })); }); afterEach(async function () { // get total await expectEvent.inTransaction(this.tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: valueWithFees, }); // redirect fees await expectEvent.inTransaction(this.tx, this.token, 'Transfer', { from: this.vault.address, to: other, value: fees, }); // mint shares await expectEvent.inTransaction(this.tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: valueWithoutFees, }); // deposit event await expectEvent.inTransaction(this.tx, this.vault, 'Deposit', { sender: holder, owner: recipient, assets: valueWithFees, shares: valueWithoutFees, }); }); }); describe('output fees', function () { beforeEach(async function () { this.token = await ERC20Decimals.new(name, symbol, 18); this.vault = await ERC4626FeesMock.new( name + ' Vault', symbol + 'V', this.token.address, 0, constants.ZERO_ADDRESS, 5e3, // 5% other, ); await this.token.$_mint(this.vault.address, constants.MAX_INT256); await this.vault.$_mint(holder, constants.MAX_INT256); }); it('redeem', async function () { expect(await this.vault.previewRedeem(valueWithFees)).to.be.bignumber.equal(valueWithoutFees); ({ tx: this.tx } = await this.vault.redeem(valueWithFees, recipient, holder, { from: holder })); }); it('withdraw', async function () { expect(await this.vault.previewWithdraw(valueWithoutFees)).to.be.bignumber.equal(valueWithFees); ({ tx: this.tx } = await this.vault.withdraw(valueWithoutFees, recipient, holder, { from: holder })); }); afterEach(async function () { // withdraw principal await expectEvent.inTransaction(this.tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: valueWithoutFees, }); // redirect fees await expectEvent.inTransaction(this.tx, this.token, 'Transfer', { from: this.vault.address, to: other, value: fees, }); // mint shares await expectEvent.inTransaction(this.tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: valueWithFees, }); // withdraw event await expectEvent.inTransaction(this.tx, this.vault, 'Withdraw', { sender: holder, receiver: recipient, owner: holder, assets: valueWithoutFees, shares: valueWithFees, }); }); }); }); /// Scenario inspired by solmate ERC4626 tests: /// https://github.com/transmissions11/solmate/blob/main/src/test/ERC4626.t.sol it('multiple mint, deposit, redeem & withdrawal', async function () { // test designed with both asset using similar decimals this.token = await ERC20Decimals.new(name, symbol, 18); this.vault = await ERC4626.new(name + ' Vault', symbol + 'V', this.token.address); await this.token.$_mint(user1, 4000); await this.token.$_mint(user2, 7001); await this.token.approve(this.vault.address, 4000, { from: user1 }); await this.token.approve(this.vault.address, 7001, { from: user2 }); // 1. Alice mints 2000 shares (costs 2000 tokens) { const { tx } = await this.vault.mint(2000, user1, { from: user1 }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user1, to: this.vault.address, value: '2000', }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user1, value: '2000', }); expect(await this.vault.previewDeposit(2000)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('2000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('0'); expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '2000', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('2000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('2000'); } // 2. Bob deposits 4000 tokens (mints 4000 shares) { const { tx } = await this.vault.mint(4000, user2, { from: user2 }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user2, to: this.vault.address, value: '4000', }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user2, value: '4000', }); expect(await this.vault.previewDeposit(4000)).to.be.bignumber.equal('4000'); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('2000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('4000'); expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '6000', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('6000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('6000'); } // 3. Vault mutates by +3000 tokens (simulated yield returned from strategy) await this.token.$_mint(this.vault.address, 3000); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('2999'); // used to be 3000, but virtual assets/shares captures part of the yield expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('5999'); // used to be 6000, but virtual assets/shares captures part of the yield expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '6000', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('6000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('9000'); // 4. Alice deposits 2000 tokens (mints 1333 shares) { const { tx } = await this.vault.deposit(2000, user1, { from: user1 }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user1, to: this.vault.address, value: '2000', }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user1, value: '1333', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('3333'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('4999'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('6000'); expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '7333', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('7333'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('11000'); } // 5. Bob mints 2000 shares (costs 3001 assets) // NOTE: Bob's assets spent got rounded towards infinity // NOTE: Alices's vault assets got rounded towards infinity { const { tx } = await this.vault.mint(2000, user2, { from: user2 }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user2, to: this.vault.address, value: '3000', // used to be 3001 }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user2, value: '2000', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('3333'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('6000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('4999'); // used to be 5000 expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('9000'); expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '9333', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('9333'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('14000'); // used to be 14001 } // 6. Vault mutates by +3000 tokens // NOTE: Vault holds 17001 tokens, but sum of assetsOf() is 17000. await this.token.$_mint(this.vault.address, 3000); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('3333'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('6000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('6070'); // used to be 6071 expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('10928'); // used to be 10929 expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '9333', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('9333'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('17000'); // used to be 17001 // 7. Alice redeem 1333 shares (2428 assets) { const { tx } = await this.vault.redeem(1333, user1, user1, { from: user1 }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user1, to: constants.ZERO_ADDRESS, value: '1333', }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user1, value: '2427', // used to be 2428 }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('6000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('3643'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('10929'); expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '8000', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('8000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('14573'); } // 8. Bob withdraws 2929 assets (1608 shares) { const { tx } = await this.vault.withdraw(2929, user2, user2, { from: user2 }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user2, to: constants.ZERO_ADDRESS, value: '1608', }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user2, value: '2929', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4392'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('3643'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('8000'); expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '6392', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('6392'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('11644'); } // 9. Alice withdraws 3643 assets (2000 shares) // NOTE: Bob's assets have been rounded back towards infinity { const { tx } = await this.vault.withdraw(3643, user1, user1, { from: user1 }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user1, to: constants.ZERO_ADDRESS, value: '2000', }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user1, value: '3643', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('0'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4392'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('8000'); // used to be 8001 expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '4392', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('4392'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('8001'); } // 10. Bob redeem 4392 shares (8001 tokens) { const { tx } = await this.vault.redeem(4392, user2, user2, { from: user2 }); await expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user2, to: constants.ZERO_ADDRESS, value: '4392', }); await expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user2, value: '8000', // used to be 8001 }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('0'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('0'); expect(await this.vault.convertToShares(await this.token.balanceOf(this.vault.address))).to.be.bignumber.equal( '0', ); expect(await this.vault.totalSupply()).to.be.bignumber.equal('0'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('1'); // used to be 0 } }); });