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Remove oracle prices from mint/burn logic #262

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36 changes: 15 additions & 21 deletions contracts/vault/libraries/MinterLogic.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -17,6 +17,9 @@ library MinterLogic {
/// @dev Share precision
uint256 constant SHARE_PRECISION = 1e33;

/// @dev Minimum asset price
uint256 constant MIN_ASSET_PRICE = 0.995e8;

/// @notice Calculate the amount out from a swap including fees
/// @param $ Storage pointer
/// @param params Parameters for a swap
Expand Down Expand Up @@ -74,38 +77,29 @@ library MinterLogic {
view
returns (uint256 amount, uint256 newRatio)
{
(uint256 assetPrice,) = IOracle(_oracle).getPrice(params.asset);
(uint256 capPrice,) = IOracle(_oracle).getPrice(address(this));

uint256 assetDecimalsPow = 10 ** IERC20Metadata(params.asset).decimals();
uint256 capDecimalsPow = 10 ** IERC20Metadata(address(this)).decimals();

uint256 capSupply = IERC20(address(this)).totalSupply();
uint256 capValue = capSupply * capPrice / capDecimalsPow;
uint256 allocationValue = IVault(address(this)).totalSupplies(params.asset) * assetPrice / assetDecimalsPow;
uint256 allocationValue = IVault(address(this)).totalSupplies(params.asset) * capDecimalsPow / assetDecimalsPow;

uint256 assetValue;
if (params.mint) {
assetValue = params.amount * assetPrice / assetDecimalsPow;
(uint256 assetPrice,) = IOracle(_oracle).getPrice(params.asset);
if (assetPrice < MIN_ASSET_PRICE) {
amount = 0;
} else {
amount = params.amount * capDecimalsPow / assetDecimalsPow;
}
if (capSupply == 0) {
newRatio = 0;
amount = assetValue * capDecimalsPow / assetPrice;
} else {
newRatio = (allocationValue + assetValue) * RAY_PRECISION / (capValue + assetValue);
amount = assetValue * capDecimalsPow / capPrice;
newRatio = RAY_PRECISION * (allocationValue + amount) / (capSupply + amount);
}
} else {
assetValue = params.amount * capPrice / capDecimalsPow;
if (params.amount == capSupply) {
newRatio = RAY_PRECISION;
amount = assetValue * assetDecimalsPow / assetPrice;
amount = params.amount * assetDecimalsPow / capDecimalsPow;
if (params.amount >= allocationValue || params.amount >= capSupply) {
newRatio = 0;
} else {
if (allocationValue < assetValue || capValue <= assetValue) {
newRatio = 0;
} else {
newRatio = (allocationValue - assetValue) * RAY_PRECISION / (capValue - assetValue);
}
amount = assetValue * assetDecimalsPow / assetPrice;
newRatio = RAY_PRECISION * (allocationValue - params.amount) / (capSupply - params.amount);
}
}
}
Expand Down
4 changes: 2 additions & 2 deletions snapshots/Vault.gas.t.json
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@@ -1,4 +1,4 @@
{
"simple_burn": "253210",
"simple_mint": "250005"
"simple_burn": "111917",
"simple_mint": "142649"
}
8 changes: 4 additions & 4 deletions test/scenario/Scenario.basic.t.sol
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Expand Up @@ -92,16 +92,16 @@ contract ScenarioBasicTest is CapIntegrationFixture {
cUSD.mint(address(usdt), 2000e6, 3000e18, alice, block.timestamp + 1 hours);
vm.expectRevert();
/// Time
cUSD.mint(address(usdt), 2000e6, 1990e18, alice, block.timestamp - 1);
cUSD.mint(address(usdt), 2000e6, 1990e18, alice, block.timestamp + 1 hours);
assertGt(cUSD.balanceOf(alice), 1990e18);
cUSD.mint(address(usdt), 2000e6, 1989e18, alice, block.timestamp - 1);
cUSD.mint(address(usdt), 2000e6, 1989e18, alice, block.timestamp + 1 hours);
assertGt(cUSD.balanceOf(alice), 1989e18);

vm.stopPrank();

vm.startPrank(bob);

usdc.approve(address(cUSD), 10000e6);
cUSD.mint(address(usdc), 2000e6, 1990e6, bob, block.timestamp + 1 hours);
cUSD.mint(address(usdc), 2000e6, 1989e6, bob, block.timestamp + 1 hours);

assertLt(cUSD.balanceOf(bob), 2000e18);

Expand Down
16 changes: 15 additions & 1 deletion test/vault/libraries/MinterLogic.t.sol
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Expand Up @@ -152,7 +152,21 @@ contract MinterLogicTest is Test {

uint256 amount = vault.minter_getAmountOut(params);

assertApproxEqAbs(amount, 200e18, 2, "Amount should account for price difference");
assertApproxEqAbs(amount, 100e18, 2, "Amount should not account for price difference");
}

function test_getAmountOut_zero_when_oracle_below_min_mint_price() public {
vault.mockMinimumTotalSupply(1000e18);
vault.mockTotalSupplies(address(asset), 1000e18);
vault.mockTotalSupplies(address(vault), 1000e18);

oracle.setPrice(address(asset), 0.994e8);

IMinter.AmountOutParams memory params =
IMinter.AmountOutParams({ asset: address(asset), amount: 100e18, mint: true, user: msg.sender });

uint256 amount = vault.minter_getAmountOut(params);
assertEq(amount, 0, "Below MIN_ASSET_PRICE mint quote is zero so mint reverts on InvalidAmount");
}

function test_getAmountOut_zeroAmount() public {
Expand Down