fix: small tweaks

src/adapter/hourglass/HourglassOracle.sol

@@ -6,12 +6,16 @@ import {BaseAdapter, Errors, IPriceOracle} from "../BaseAdapter.sol";
 import {ScaleUtils, Scale} from "../../lib/ScaleUtils.sol";
 import {IHourglassDepositor} from "./IHourglassDepositor.sol";
 import {IHourglassERC20TBT} from "./IHourglassERC20TBT.sol";
-import "forge-std/console.sol";
 
 contract HourglassOracle is BaseAdapter {
     /// @inheritdoc IPriceOracle
     string public constant name = "HourglassOracle";
 
+    /// @notice The number of decimals for the base token.
+    uint256 internal immutable baseTokenScale;
+    /// @notice The scale factors used for decimal conversions.
+    Scale internal immutable scale;
+
     /// @notice The address of the base asset (e.g., PT or CT).
     address public immutable base;
     /// @notice The address of the quote asset (e.g., underlying asset).
@@ -20,55 +24,43 @@ contract HourglassOracle is BaseAdapter {
     /// @notice Per second discount rate (scaled by 1e18).
     uint256 public immutable discountRate;
 
-    /// @notice Address of the Hourglass system.
+    /// @notice Address of the Hourglass depositor contract (pool-specific).
     IHourglassDepositor public immutable hourglassDepositor;
 
-    /// @notice The scale factors used for decimal conversions.
-    Scale internal immutable scale;
-
     /// @notice The address of the combined token.
     address public immutable combinedToken;
     /// @notice The address of the principal token.
     address public immutable principalToken;
     /// @notice The address of the underlying token.
     address public immutable underlyingToken;
 
-    /// @notice The number of decimals for the base token.
-    uint8 public immutable baseTokenDecimals;
-    /// @notice The number of decimals for the quote token.
-    uint8 public immutable quoteTokenDecimals;
-
     /// @notice Deploy the HourglassLinearDiscountOracle.
     /// @param _base The address of the base asset (PT or CT).
     /// @param _quote The address of the quote asset (underlying token).
-    /// @param _discountRate Discount rate (secondly, scaled by baseAssetDecimals).
+    /// @param _discountRate Discount rate (secondly, scaled by 1e18).
     constructor(address _base, address _quote, uint256 _discountRate) {
         if (_discountRate == 0) revert Errors.PriceOracle_InvalidConfiguration();
 
         // Initialize key parameters
         base = _base;
         quote = _quote;
         discountRate = _discountRate;
-
-        // Fetch and store Hourglass depositor
         hourglassDepositor = IHourglassDepositor(IHourglassERC20TBT(_base).depositor());
 
-        // Fetch token decimals
-        uint8 baseDecimals = _getDecimals(_base);
-        uint8 quoteDecimals = _getDecimals(_quote);
-
         // Fetch token addresses
         address[] memory tokens = hourglassDepositor.getTokens();
         combinedToken = tokens[0];
         principalToken = tokens[1];
         underlyingToken = hourglassDepositor.getUnderlying();
 
+        // Only allow PT or CT as base token
+        if (_base != combinedToken && _base != principalToken) revert Errors.PriceOracle_InvalidConfiguration();
+
         // Calculate scale factors for decimal conversions
+        uint8 baseDecimals = _getDecimals(_base);
+        uint8 quoteDecimals = _getDecimals(_quote);
         scale = ScaleUtils.calcScale(baseDecimals, quoteDecimals, quoteDecimals);
-
-        // Store decimals for normalization
-        baseTokenDecimals = baseDecimals;
-        quoteTokenDecimals = quoteDecimals;
+        baseTokenScale = 10 ** baseDecimals;
     }
 
     /// @notice Get a dynamic quote using linear discounting and solvency adjustment.
@@ -84,57 +76,55 @@ contract HourglassOracle is BaseAdapter {
 
         // Calculate present value using linear discounting, baseTokenDecimals precision
         uint256 presentValue = _getUnitPresentValue(solvencyRatio);
-        
+
         // Return scaled output amount
         return ScaleUtils.calcOutAmount(inAmount, presentValue, scale, inverse);
     }
 
     /// @notice Calculate the present value using linear discounting.
     /// @param solvencyRatio Solvency ratio of the Hourglass system (scaled by baseTokenDecimals).
     /// @return presentValue The present value of the input amount (scaled by baseTokenDecimals).
-    function _getUnitPresentValue(uint256 solvencyRatio)
-        internal
-        view
-        returns (uint256)
-    {
-        // Both inAmount and solvencyRatio have baseTokenDecimals precision
-        uint256 baseTokenScale = 10 ** baseTokenDecimals;
+    function _getUnitPresentValue(uint256 solvencyRatio) internal view returns (uint256) {
+        uint256 maturityTime = hourglassDepositor.maturity();
+
+        // Already matured, so PV = solvencyRatio.
+        if (maturityTime <= block.timestamp) return solvencyRatio;
 
-        uint256 timeToMaturity = _getTimeToMaturity();
+        uint256 timeToMaturity = maturityTime - block.timestamp;
 
         // The expression (1e18 + discountRate * timeToMaturity) is ~1e18 scale
         // We want the denominator to be scaled to baseTokenDecimals so that when
         // we divide the (inAmount * solvencyRatio) [which is 2 * baseTokenDecimals in scale],
         // we end up back with baseTokenDecimals in scale.
 
         uint256 scaledDenominator = (
-            (1e18 + (discountRate * timeToMaturity))     // ~1e18 scale
-            * baseTokenScale                             // multiply by 1e(baseTokenDecimals)
-        ) / 1e18;                                        // now scaledDenominator has baseTokenDecimals precision
+            (1e18 + (discountRate * timeToMaturity)) // ~1e18 scale
+                * baseTokenScale
+        ) // multiply by 1e(baseTokenDecimals)
+            / 1e18; // now scaledDenominator has baseTokenDecimals precision
 
         // (inAmount * solvencyRatio) is scale = 2 * baseTokenDecimals
         // dividing by scaledDenominator (scale = baseTokenDecimals)
         // => result has scale = baseTokenDecimals
         return (baseTokenScale * solvencyRatio) / scaledDenominator;
     }
 
-    /// @notice Fetch the time-to-maturity.
-    /// @return timeToMaturity Time-to-maturity in seconds.
-    function _getTimeToMaturity() internal view returns (uint256) {
-        uint256 maturityTime = hourglassDepositor.maturity();
-        return maturityTime > block.timestamp ? maturityTime - block.timestamp : 0;
-    }
-
     /// @notice Fetch the solvency ratio of the Hourglass system.
-    /// @return solvencyRatio Solvency ratio of the Hourglass system (scaled by _base token decimals).
-    function _getSolvencyRatio() internal view returns (uint256 solvencyRatio) {
-        uint256 baseTokenScale = 10 ** baseTokenDecimals;
-        uint256 underlyingTokenBalance = IERC20(underlyingToken).balanceOf(address(hourglassDepositor));
+    /// @dev The ratio is capped to 1. The returned value is scaled by baseTokenDecimals.
+    /// @return solvencyRatio Solvency ratio of the Hourglass system (scaled by baseTokenDecimals).
+    function _getSolvencyRatio() internal view returns (uint256) {
         uint256 ptSupply = IERC20(principalToken).totalSupply();
         uint256 ctSupply = IERC20(combinedToken).totalSupply();
-
         uint256 totalClaims = ptSupply + ctSupply;
+        if (totalClaims == 0) return baseTokenScale;
+
+        uint256 underlyingTokenBalance = IERC20(underlyingToken).balanceOf(address(hourglassDepositor));
 
-        return (totalClaims > 0) ? (underlyingTokenBalance * baseTokenScale) / totalClaims : baseTokenScale;
+        // Return the solvency as a ratio capped to 1.
+        if (underlyingTokenBalance < totalClaims) {
+            return underlyingTokenBalance * baseTokenScale / totalClaims;
+        } else {
+            return baseTokenScale;
+        }
     }
 }

src/adapter/hourglass/IHourglassDepositor.sol

@@ -1,56 +1,10 @@
 // SPDX-License-Identifier: MIT
-pragma solidity ^0.8.20;
+pragma solidity ^0.8.0;
 
 interface IHourglassDepositor {
-    function creationBlock() external view returns (uint256);
-    function deposit(uint256 amount, bool receiveSplit) external;
-    function depositFor(address user, uint256 amount, bool receiveSplit) external;
-    function depositTo(address principalRecipient, address pointRecipient, uint256 amount, bool receiveSplit)
-        external;
-    function enter(uint256 amountToBeDeposited) external;
-    function factory() external view returns (address);
-    function getPointToken() external view returns (address);
-    function getPrincipalToken() external view returns (address);
     function getTokens() external view returns (address[] memory);
     function getUnderlying() external view returns (address);
     function maturity() external view returns (uint256);
-    function recombine(uint256 amount) external;
-    function recoverToken(address token, address rewardsDistributor) external returns (uint256 amount);
-    function redeem(uint256 amount) external;
-    function redeemPrincipal(uint256 amount) external;
-    function setMaxDeposits(uint256 _depositCap) external;
-    function split(uint256 amount) external;
-
-    event Deposit(address user, uint256 amount);
-    event DepositedTo(address principalRecipient, address pointRecipient, uint256 amount);
-    event Initialized(uint64 version);
-    event NewMaturityCreated(address combined, address principal, address yield);
-    event Recombine(address user, uint256 amount);
-    event Redeem(address user, uint256 amount);
-    event Split(address user, uint256 amount);
-
-    error AddressEmptyCode(address target);
-    error AddressInsufficientBalance(address account);
-    error AlreadyEntered();
-    error AmountMismatch();
-    error CallerNotEntrant();
-    error DepositCapExceeded();
-    error FailedInnerCall();
-    error InsufficientAssetSupplied();
-    error InsufficientDeposit();
-    error InsufficientFunds();
-    error InvalidDecimals();
-    error InvalidInitialization();
-    error InvalidMaturity();
-    error InvalidUnderlying();
-    error Matured();
-    error NoCode();
-    error NotEntered();
-    error NotInitializing();
-    error PrematureRedeem();
-    error RecipientMismatch();
-    error SafeERC20FailedOperation(address token);
-    error UnauthorizedCaller();
 }
 
 interface IVedaDepositor {

src/adapter/hourglass/IHourglassERC20TBT.sol

@@ -1,9 +1,6 @@
 // SPDX-License-Identifier: MIT
-pragma solidity ^0.8.20;
+pragma solidity ^0.8.0;
 
 interface IHourglassERC20TBT {
     function depositor() external view returns (address);
-    function initialize(string calldata _name, string calldata _symbol, uint8 __decimals) external;
-    function mint(address _to, uint256 _amount) external;
-    function burn(address _from, uint256 _amount) external;
 }

test/adapter/hourglass/HourglassAddresses.sol

@@ -11,4 +11,4 @@ address constant HOURGLASS_LBTCV_01MAR2025_UNDERLYING = LBTCV;
 address constant HOURGLASS_LBTCV_01DEC2024_DEPOSITOR = 0xA285bca8f01c8F18953443e645ef2786D31ada99;
 address constant HOURGLASS_LBTCV_01DEC2024_CT = 0x0CB35DC9ADDce18669E2Fd5db4B405Ea655e98Bd;
 address constant HOURGLASS_LBTCV_01DEC2024_PT = 0xDB0Ee7308cF1F5A3f376D015a1545B4cB9A878D9;
-address constant HOURGLASS_LBTCV_01DEC2024_UNDERLYING = LBTCV;
+address constant HOURGLASS_LBTCV_01DEC2024_UNDERLYING = LBTCV;

test/adapter/hourglass/HourglassOracle.fork.t.sol

@@ -14,12 +14,12 @@ import {Errors} from "src/lib/Errors.sol";
 import {IERC20} from "forge-std/interfaces/IERC20.sol";
 
 import {
-    HOURGLASS_LBTCV_01MAR2025_DEPOSITOR, 
-    HOURGLASS_LBTCV_01MAR2025_PT, 
-    HOURGLASS_LBTCV_01MAR2025_CT, 
-    HOURGLASS_LBTCV_01MAR2025_UNDERLYING, 
-    HOURGLASS_LBTCV_01DEC2024_DEPOSITOR, 
-    HOURGLASS_LBTCV_01DEC2024_PT, 
+    HOURGLASS_LBTCV_01MAR2025_DEPOSITOR,
+    HOURGLASS_LBTCV_01MAR2025_PT,
+    HOURGLASS_LBTCV_01MAR2025_CT,
+    HOURGLASS_LBTCV_01MAR2025_UNDERLYING,
+    HOURGLASS_LBTCV_01DEC2024_DEPOSITOR,
+    HOURGLASS_LBTCV_01DEC2024_PT,
     HOURGLASS_LBTCV_01DEC2024_UNDERLYING
 } from "test/adapter/hourglass/HourglassAddresses.sol";
 
@@ -49,16 +49,16 @@ contract HourglassOracleForkTest is ForkTest {
      */
     function test_Constructor_Integrity_Hourglass() public {
         HourglassOracle oracle = new HourglassOracle(
-            HOURGLASS_LBTCV_01MAR2025_PT,         // base
+            HOURGLASS_LBTCV_01MAR2025_PT, // base
             HOURGLASS_LBTCV_01MAR2025_UNDERLYING, // quote
-            DISCOUNT_RATE_PER_SECOND              // discount rate
+            DISCOUNT_RATE_PER_SECOND // discount rate
         );
 
         // The contract returns "HourglassOracle"
         assertEq(oracle.name(), "HourglassOracle");
 
         // The base/quote we passed in
-        assertEq(oracle.base(),  HOURGLASS_LBTCV_01MAR2025_PT);
+        assertEq(oracle.base(), HOURGLASS_LBTCV_01MAR2025_PT);
         assertEq(oracle.quote(), HOURGLASS_LBTCV_01MAR2025_UNDERLYING);
 
         // The discountRate we provided
@@ -79,7 +79,7 @@ contract HourglassOracleForkTest is ForkTest {
     function test_GetQuote_ActiveMarket_LBTCV_01MAR2025_PT() public {
         // Deploy the oracle
         HourglassOracle oracle = new HourglassOracle(
-            HOURGLASS_LBTCV_01MAR2025_PT,         // base
+            HOURGLASS_LBTCV_01MAR2025_PT, // base
             HOURGLASS_LBTCV_01MAR2025_UNDERLYING, // quote
             DISCOUNT_RATE_PER_SECOND
         );
@@ -89,19 +89,20 @@ contract HourglassOracleForkTest is ForkTest {
         assertApproxEqRel(outAmount, 0.99707e8, REL_PRECISION);
 
         // Underlying -> PT
-        uint256 outAmountInv = oracle.getQuote(outAmount, HOURGLASS_LBTCV_01MAR2025_UNDERLYING, HOURGLASS_LBTCV_01MAR2025_PT);
+        uint256 outAmountInv =
+            oracle.getQuote(outAmount, HOURGLASS_LBTCV_01MAR2025_UNDERLYING, HOURGLASS_LBTCV_01MAR2025_PT);
         assertApproxEqRel(outAmountInv, 1e8, REL_PRECISION);
     }
 
-        /**
+    /**
      * @dev Example "active market" test - calls getQuote() both ways (CT -> underlying, and underlying -> CT).
      * This is analogous to your Pendle tests where you check the rate with no slippage,
      * but you need to know what 1 CT is expected to be in "underlying" at this block.
      */
     function test_GetQuote_ActiveMarket_LBTCV_01MAR2025_CT() public {
         // Deploy the oracle
         HourglassOracle oracle = new HourglassOracle(
-            HOURGLASS_LBTCV_01MAR2025_CT,         // base
+            HOURGLASS_LBTCV_01MAR2025_CT, // base
             HOURGLASS_LBTCV_01MAR2025_UNDERLYING, // quote
             DISCOUNT_RATE_PER_SECOND
         );
@@ -111,7 +112,8 @@ contract HourglassOracleForkTest is ForkTest {
         assertApproxEqRel(outAmount, 0.99707e8, REL_PRECISION);
 
         // Underlying -> PT
-        uint256 outAmountInv = oracle.getQuote(outAmount, HOURGLASS_LBTCV_01MAR2025_UNDERLYING, HOURGLASS_LBTCV_01MAR2025_CT);
+        uint256 outAmountInv =
+            oracle.getQuote(outAmount, HOURGLASS_LBTCV_01MAR2025_UNDERLYING, HOURGLASS_LBTCV_01MAR2025_CT);
         assertApproxEqRel(outAmountInv, 1e8, REL_PRECISION);
     }
 
@@ -123,9 +125,7 @@ contract HourglassOracleForkTest is ForkTest {
         // If the market for LBTCV_01MAR2025 is expired at the chosen block, you can test that 1 PT = 1 underlying
         // or whatever the final settlement is.
         HourglassOracle oracle = new HourglassOracle(
-            HOURGLASS_LBTCV_01DEC2024_PT,
-            HOURGLASS_LBTCV_01DEC2024_UNDERLYING,
-            DISCOUNT_RATE_PER_SECOND
+            HOURGLASS_LBTCV_01DEC2024_PT, HOURGLASS_LBTCV_01DEC2024_UNDERLYING, DISCOUNT_RATE_PER_SECOND
         );
 
         uint256 outAmount = oracle.getQuote(1e8, HOURGLASS_LBTCV_01DEC2024_PT, HOURGLASS_LBTCV_01DEC2024_UNDERLYING);
@@ -145,4 +145,4 @@ contract HourglassOracleForkTest is ForkTest {
             0 // zero discount => revert
         );
     }
-}
+}

test/adapter/hourglass/HourglassOracle.unit.t.sol

@@ -44,7 +44,8 @@ contract HourglassOracleTest is HourglassOracleHelper {
         assertEq(bidOutAmount, outAmount);
         assertEq(askOutAmount, outAmount);
         uint256 outAmountInv = HourglassOracle(oracle).getQuote(s.inAmount, s.quote, s.base);
-        (uint256 bidOutAmountInv, uint256 askOutAmountInv) = HourglassOracle(oracle).getQuotes(s.inAmount, s.quote, s.base);
+        (uint256 bidOutAmountInv, uint256 askOutAmountInv) =
+            HourglassOracle(oracle).getQuotes(s.inAmount, s.quote, s.base);
         assertEq(bidOutAmountInv, outAmountInv);
         assertEq(askOutAmountInv, outAmountInv);
     }