feat: Initial fees tracking implementation #21
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| // SPDX-License-Identifier: GPL-3.0-only | ||
| pragma solidity ^0.8.0; | ||
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| import "./interfaces/LpTokenFactoryInterface.sol"; | ||
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| import "@uma/core/contracts/common/implementation/ExpandedERC20.sol"; | ||
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| contract LpTokenFactory is LpTokenFactoryInterface { | ||
| function createLpToken(address l1Token) public returns (address) { | ||
| ExpandedERC20 lpToken = new ExpandedERC20( | ||
| _append("Across ", IERC20Metadata(l1Token).name(), " LP Token"), // LP Token Name | ||
| _append("Av2-", IERC20Metadata(l1Token).symbol(), "-LP"), // LP Token Symbol | ||
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Contributor
There was a problem hiding this comment. I really like that all these string constants, etc can sit here. As a side note, we should run these names by the rest of the team.
Member
Author
There was a problem hiding this comment. yup! saves a fair bit. for now I think it's fine. I dont think it's super important, as long as it's diffrent to the other tokens. |
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| IERC20Metadata(l1Token).decimals() // LP Token Decimals | ||
| ); | ||
| lpToken.addMember(1, msg.sender); // Set this contract as the LP Token's minter. | ||
| lpToken.addMember(2, msg.sender); // Set this contract as the LP Token's burner. | ||
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| return address(lpToken); | ||
| } | ||
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| function _append( | ||
| string memory a, | ||
| string memory b, | ||
| string memory c | ||
| ) internal pure returns (string memory) { | ||
| return string(abi.encodePacked(a, b, c)); | ||
| } | ||
| } | ||
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| // SPDX-License-Identifier: AGPL-3.0-only | ||
| pragma solidity ^0.8.0; | ||
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| import "@openzeppelin/contracts/token/ERC20/IERC20.sol"; | ||
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| interface LpTokenFactoryInterface { | ||
| function createLpToken(address l1Token) external returns (address); | ||
| } |
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| import { expect } from "chai"; | ||
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Member
Author
There was a problem hiding this comment. please read through this test file! the second test covers a full commented evaluation of fees over a smear period. |
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| import { Contract } from "ethers"; | ||
| import { ethers } from "hardhat"; | ||
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| import { SignerWithAddress, toBNWei, seedWallet, toWei } from "./utils"; | ||
| import * as consts from "./constants"; | ||
| import { hubPoolFixture, enableTokensForLP } from "./HubPool.Fixture"; | ||
| import { buildPoolRebalanceTree, buildPoolRebalanceLeafs } from "./MerkleLib.utils"; | ||
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| let hubPool: Contract, mockAdapter: Contract, weth: Contract, mockSpoke: Contract, timer: Contract; | ||
| let owner: SignerWithAddress, dataWorker: SignerWithAddress, liquidityProvider: SignerWithAddress; | ||
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| async function constructSimpleTree() { | ||
| const wethSendToL2 = toBNWei(100); | ||
| const wethAttributeToLps = toBNWei(10); | ||
| const leafs = buildPoolRebalanceLeafs( | ||
| [consts.repaymentChainId], // repayment chain. In this test we only want to send one token to one chain. | ||
| [weth], // l1Token. We will only be sending WETH and DAI to the associated repayment chain. | ||
| [[wethAttributeToLps]], // bundleLpFees. Set to 1 ETH and 10 DAI respectively to attribute to the LPs. | ||
| [[wethSendToL2]], // netSendAmounts. Set to 100 ETH and 1000 DAI as the amount to send from L1->L2. | ||
| [[wethSendToL2]] // runningBalances. Set to 100 ETH and 1000 DAI. | ||
| ); | ||
| const tree = await buildPoolRebalanceTree(leafs); | ||
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| return { wethSendToL2, wethAttributeToLps, leafs, tree }; | ||
| } | ||
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| describe.only("HubPool LP fees", function () { | ||
| beforeEach(async function () { | ||
| [owner, dataWorker, liquidityProvider] = await ethers.getSigners(); | ||
| ({ weth, hubPool, mockAdapter, mockSpoke, timer } = await hubPoolFixture()); | ||
| await seedWallet(dataWorker, [], weth, consts.bondAmount.add(consts.finalFee).mul(2)); | ||
| await seedWallet(liquidityProvider, [], weth, consts.amountToLp.mul(10)); | ||
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| await enableTokensForLP(owner, hubPool, weth, [weth]); | ||
| await weth.connect(liquidityProvider).approve(hubPool.address, consts.amountToLp); | ||
| await hubPool.connect(liquidityProvider).addLiquidity(weth.address, consts.amountToLp); | ||
| await weth.connect(dataWorker).approve(hubPool.address, consts.bondAmount.mul(10)); | ||
| }); | ||
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| it("Fee tracking variables are correctly updated at the execution of a refund", async function () { | ||
| // Before any execution happens liquidity trackers are set as expected. | ||
| const pooledTokenInfoPreExecution = await hubPool.pooledTokens(weth.address); | ||
| expect(pooledTokenInfoPreExecution.liquidReserves).to.eq(consts.amountToLp); | ||
| expect(pooledTokenInfoPreExecution.utilizedReserves).to.eq(0); | ||
| expect(pooledTokenInfoPreExecution.undistributedLpFees).to.eq(0); | ||
| expect(pooledTokenInfoPreExecution.lastLpFeeUpdate).to.eq(await timer.getCurrentTime()); | ||
| expect(pooledTokenInfoPreExecution.isWeth).to.eq(true); | ||
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| const { wethSendToL2, wethAttributeToLps, leafs, tree } = await constructSimpleTree(); | ||
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| await hubPool.connect(dataWorker).initiateRelayerRefund([3117], 1, tree.getHexRoot(), consts.mockTreeRoot); | ||
| await timer.setCurrentTime(Number(await timer.getCurrentTime()) + consts.refundProposalLiveness); | ||
| await hubPool.connect(dataWorker).executeRelayerRefund(leafs[0], tree.getHexProof(leafs[0])); | ||
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| // Validate the post execution values have updated as expected. Liquid reserves should be the original LPed amount | ||
| // minus the amount sent to L2. Utilized reserves should be the amount sent to L2 plus the attribute to LPs. | ||
| // Undistributed LP fees should be attribute to LPs. | ||
| const pooledTokenInfoPostExecution = await hubPool.pooledTokens(weth.address); | ||
| expect(pooledTokenInfoPostExecution.liquidReserves).to.eq(consts.amountToLp.sub(wethSendToL2)); | ||
| expect(pooledTokenInfoPostExecution.utilizedReserves).to.eq(wethSendToL2.add(wethAttributeToLps)); | ||
| expect(pooledTokenInfoPostExecution.undistributedLpFees).to.eq(wethAttributeToLps); | ||
| }); | ||
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| it("Exchange rate current correctly attributes fees over the smear period", async function () { | ||
| // Fees are designed to be attributed over a period of time so they dont all arrive on L1 as soon as the bundle is | ||
| // executed. We can validate that fees are correctly smeared by attributing some and then moving time forward and | ||
| // validating that key variable shift as a function of time. | ||
| const { leafs, tree } = await constructSimpleTree(); | ||
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| // Exchange rate current before any fees are attributed execution should be 1. | ||
| expect(await hubPool.callStatic.exchangeRateCurrent(weth.address)).to.eq(toWei(1)); | ||
| await hubPool.exchangeRateCurrent(weth.address); | ||
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| await hubPool.connect(dataWorker).initiateRelayerRefund([3117], 1, tree.getHexRoot(), consts.mockTreeRoot); | ||
| await timer.setCurrentTime(Number(await timer.getCurrentTime()) + consts.refundProposalLiveness); | ||
| await hubPool.connect(dataWorker).executeRelayerRefund(leafs[0], tree.getHexProof(leafs[0])); | ||
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| // Exchange rate current right after the refund execution should be the amount deposited, grown by the 100 second | ||
| // liveness period. Of the 10 ETH attributed to LPs, a total of 10*0.0000015*100=0.0015 was attributed to LPs. | ||
| // The exchange rate is therefore (1000+0.0015)/1000=1.0000015. | ||
| expect((await hubPool.callStatic.exchangeRateCurrent(weth.address)).toString()).to.eq(toWei(1.0000015)); | ||
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| // Validate the state variables are updated accordingly. In particular, undistributedLpFees should have decremented | ||
| // by the amount allocated in the previous computation. This should be 10-0.0015=9.9985. | ||
| await hubPool.exchangeRateCurrent(weth.address); // force state sync. | ||
| expect((await hubPool.pooledTokens(weth.address)).undistributedLpFees).to.eq(toWei(9.9985)); | ||
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| // Next, advance time 2 days. Compute the ETH attributed to LPs by multiplying the original amount allocated(10), | ||
| // minus the previous computation amount(0.0015) by the smear rate, by the duration to get the second periods | ||
| // allocation of(10 - 0.0015) * 0.0000015 * (172800)=2.5916112.The exchange rate should be The sum of the | ||
| // liquidity provided and the fees added in both periods as (1000+0.0015+2.5916112)/1000=1.0025931112. | ||
| await timer.setCurrentTime(Number(await timer.getCurrentTime()) + 2 * 24 * 60 * 60); | ||
| expect((await hubPool.callStatic.exchangeRateCurrent(weth.address)).toString()).to.eq(toWei(1.0025931112)); | ||
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| // Again, we can validate that the undistributedLpFees have been updated accordingly. This should be set to the | ||
| // original amount (10) minus the two sets of attributed LP fees as 10-0.0015-2.5916112=7.4068888. | ||
| await hubPool.exchangeRateCurrent(weth.address); // force state sync. | ||
| expect((await hubPool.pooledTokens(weth.address)).undistributedLpFees).to.eq(toWei(7.4068888)); | ||
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| // Finally, advance time past the end of the smear period by moving forward 10 days. At this point all LP fees | ||
| // should be attributed such that undistributedLpFees=0 and the exchange rate should simply be (1000+10)/1000=1.01. | ||
| await timer.setCurrentTime(Number(await timer.getCurrentTime()) + 10 * 24 * 60 * 60); | ||
| expect((await hubPool.callStatic.exchangeRateCurrent(weth.address)).toString()).to.eq(toWei(1.01)); | ||
| await hubPool.exchangeRateCurrent(weth.address); // force state sync. | ||
| expect((await hubPool.pooledTokens(weth.address)).undistributedLpFees).to.eq(toWei(0)); | ||
| }); | ||
| }); | ||
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bytecode saving.