-
Notifications
You must be signed in to change notification settings - Fork 0
Commit
This commit does not belong to any branch on this repository, and may belong to a fork outside of the repository.
Merge pull request #13 from euler-xyz/feat/fees
Feat: performance fee implementation
- Loading branch information
Showing
4 changed files
with
202 additions
and
3 deletions.
There are no files selected for viewing
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,142 @@ | ||
| // SPDX-License-Identifier: GPL-2.0-or-later | ||
| pragma solidity ^0.8.0; | ||
|
|
||
| import { | ||
| FourSixTwoSixAggBase, | ||
| FourSixTwoSixAgg, | ||
| console2, | ||
| EVault, | ||
| IEVault, | ||
| IRMTestDefault, | ||
| TestERC20 | ||
| } from "../common/FourSixTwoSixAggBase.t.sol"; | ||
|
|
||
| contract PerformanceFeeE2ETest is FourSixTwoSixAggBase { | ||
| uint256 user1InitialBalance = 100000e18; | ||
|
|
||
| address feeRecipient; | ||
|
|
||
| function setUp() public virtual override { | ||
| super.setUp(); | ||
|
|
||
| uint256 initialStrategyAllocationPoints = 500e18; | ||
| _addStrategy(manager, address(eTST), initialStrategyAllocationPoints); | ||
|
|
||
| assetTST.mint(user1, user1InitialBalance); | ||
|
|
||
| feeRecipient = makeAddr("FEE_RECIPIENT"); | ||
| } | ||
|
|
||
| function testSetPerformanceFee() public { | ||
| assertEq(fourSixTwoSixAgg.performanceFee(), 0); | ||
|
|
||
| uint256 newPerformanceFee = 3e17; | ||
|
|
||
| vm.startPrank(manager); | ||
| fourSixTwoSixAgg.setFeeRecipient(feeRecipient); | ||
| fourSixTwoSixAgg.setPerformanceFee(newPerformanceFee); | ||
| vm.stopPrank(); | ||
|
|
||
| assertEq(fourSixTwoSixAgg.performanceFee(), newPerformanceFee); | ||
| assertEq(fourSixTwoSixAgg.feeRecipient(), feeRecipient); | ||
| } | ||
|
|
||
| function testHarvestWithFeeEnabled() public { | ||
| uint256 newPerformanceFee = 3e17; | ||
|
|
||
| vm.startPrank(manager); | ||
| fourSixTwoSixAgg.setFeeRecipient(feeRecipient); | ||
| fourSixTwoSixAgg.setPerformanceFee(newPerformanceFee); | ||
| vm.stopPrank(); | ||
|
|
||
| uint256 amountToDeposit = 10000e18; | ||
|
|
||
| // deposit into aggregator | ||
| { | ||
| uint256 balanceBefore = fourSixTwoSixAgg.balanceOf(user1); | ||
| uint256 totalSupplyBefore = fourSixTwoSixAgg.totalSupply(); | ||
| uint256 totalAssetsDepositedBefore = fourSixTwoSixAgg.totalAssetsDeposited(); | ||
| uint256 userAssetBalanceBefore = assetTST.balanceOf(user1); | ||
|
|
||
| vm.startPrank(user1); | ||
| assetTST.approve(address(fourSixTwoSixAgg), amountToDeposit); | ||
| fourSixTwoSixAgg.deposit(amountToDeposit, user1); | ||
| vm.stopPrank(); | ||
|
|
||
| assertEq(fourSixTwoSixAgg.balanceOf(user1), balanceBefore + amountToDeposit); | ||
| assertEq(fourSixTwoSixAgg.totalSupply(), totalSupplyBefore + amountToDeposit); | ||
| assertEq(fourSixTwoSixAgg.totalAssetsDeposited(), totalAssetsDepositedBefore + amountToDeposit); | ||
| assertEq(assetTST.balanceOf(user1), userAssetBalanceBefore - amountToDeposit); | ||
| } | ||
|
|
||
| // rebalance into strategy | ||
| vm.warp(block.timestamp + 86400); | ||
| { | ||
| FourSixTwoSixAgg.Strategy memory strategyBefore = fourSixTwoSixAgg.getStrategy(address(eTST)); | ||
|
|
||
| assertEq(eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg))), strategyBefore.allocated); | ||
|
|
||
| uint256 expectedStrategyCash = fourSixTwoSixAgg.totalAssetsAllocatable() * strategyBefore.allocationPoints | ||
| / fourSixTwoSixAgg.totalAllocationPoints(); | ||
|
|
||
| vm.prank(user1); | ||
| fourSixTwoSixAgg.rebalance(address(eTST)); | ||
|
|
||
| assertEq(fourSixTwoSixAgg.totalAllocated(), expectedStrategyCash); | ||
| assertEq(eTST.convertToAssets(eTST.balanceOf(address(fourSixTwoSixAgg))), expectedStrategyCash); | ||
| assertEq((fourSixTwoSixAgg.getStrategy(address(eTST))).allocated, expectedStrategyCash); | ||
| } | ||
|
|
||
| vm.warp(block.timestamp + 86400); | ||
| // mock an increase of strategy balance by 10% | ||
| uint256 yield; | ||
| { | ||
| uint256 aggrCurrentStrategyShareBalance = eTST.balanceOf(address(fourSixTwoSixAgg)); | ||
| uint256 aggrCurrentStrategyUnderlyingBalance = eTST.convertToAssets(aggrCurrentStrategyShareBalance); | ||
| uint256 aggrNewStrategyUnderlyingBalance = aggrCurrentStrategyUnderlyingBalance * 11e17 / 1e18; | ||
| yield = aggrNewStrategyUnderlyingBalance - aggrCurrentStrategyUnderlyingBalance; | ||
| assetTST.mint(address(eTST), yield); | ||
| eTST.skim(type(uint256).max, address(fourSixTwoSixAgg)); | ||
| } | ||
|
|
||
| uint256 expectedPerformanceFee = yield * fourSixTwoSixAgg.performanceFee() / 1e18; | ||
| uint256 expectedPerformanceFeeShares = fourSixTwoSixAgg.convertToShares(expectedPerformanceFee); | ||
|
|
||
| // harvest | ||
| vm.prank(user1); | ||
| fourSixTwoSixAgg.harvest(address(eTST)); | ||
|
|
||
| assertEq(fourSixTwoSixAgg.balanceOf(feeRecipient), expectedPerformanceFeeShares); | ||
|
|
||
| // full withdraw, will have to withdraw from strategy as cash reserve is not enough | ||
| { | ||
| uint256 amountToWithdraw = fourSixTwoSixAgg.balanceOf(user1); | ||
| uint256 totalAssetsDepositedBefore = fourSixTwoSixAgg.totalAssetsDeposited(); | ||
| uint256 aggregatorTotalSupplyBefore = fourSixTwoSixAgg.totalSupply(); | ||
| uint256 user1AssetTSTBalanceBefore = assetTST.balanceOf(user1); | ||
| uint256 expectedAssetTST = fourSixTwoSixAgg.convertToAssets(fourSixTwoSixAgg.balanceOf(user1)); | ||
|
|
||
| vm.prank(user1); | ||
| fourSixTwoSixAgg.redeem(amountToWithdraw, user1, user1); | ||
|
|
||
| assertApproxEqAbs(fourSixTwoSixAgg.totalAssetsDeposited(), totalAssetsDepositedBefore - expectedAssetTST, 1); | ||
| assertEq(fourSixTwoSixAgg.totalSupply(), aggregatorTotalSupplyBefore - amountToWithdraw); | ||
| assertApproxEqAbs(assetTST.balanceOf(user1), user1AssetTSTBalanceBefore + expectedAssetTST, 1); | ||
| } | ||
|
|
||
| // full withdraw of recipient fees | ||
| { | ||
| uint256 totalAssetsDepositedBefore = fourSixTwoSixAgg.totalAssetsDeposited(); | ||
| uint256 assetTSTBalanceBefore = assetTST.balanceOf(feeRecipient); | ||
|
|
||
| uint256 feeShares = fourSixTwoSixAgg.balanceOf(feeRecipient); | ||
| uint256 expectedAssets = fourSixTwoSixAgg.convertToAssets(feeShares); | ||
| vm.prank(feeRecipient); | ||
| fourSixTwoSixAgg.redeem(feeShares, feeRecipient, feeRecipient); | ||
|
|
||
| assertApproxEqAbs(fourSixTwoSixAgg.totalAssetsDeposited(), totalAssetsDepositedBefore - expectedAssets, 1); | ||
| assertEq(fourSixTwoSixAgg.totalSupply(), 0); | ||
| assertApproxEqAbs(assetTST.balanceOf(feeRecipient), assetTSTBalanceBefore + expectedAssets, 1); | ||
| } | ||
| } | ||
| } |