Merge branch 'develop' into remove-col-factor

ajna-finance · Dec 12, 2023 · fd28899 · fd28899
2 parents 13c8f50 + 912b1f6
commit fd28899
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Showing 43 changed files with 955 additions and 1,030 deletions.
diff --git a/src/PoolInfoUtils.sol b/src/PoolInfoUtils.sol
@@ -157,7 +157,7 @@ contract PoolInfoUtils {
         uint256 npTpRatio;
         (t0Debt, collateral_, npTpRatio)  = pool.borrowerInfo(borrower_);
 
-        t0Np_ = collateral_ == 0 ? 0 : Math.mulDiv(t0Debt, npTpRatio, collateral_);
+        t0Np_ = collateral_ == 0 ? 0 : Math.mulDiv(Maths.wmul(t0Debt, COLLATERALIZATION_FACTOR), npTpRatio, collateral_);
 
         debt_ = Maths.ceilWmul(t0Debt, pendingInflator);
     }

diff --git a/src/PositionManager.sol b/src/PositionManager.sol
@@ -591,9 +591,7 @@ contract PositionManager is PermitERC721, IPositionManager, Multicall, Reentranc
             collateralTokenSymbol: tokenSymbol(collateralTokenAddress),
             quoteTokenSymbol:      tokenSymbol(quoteTokenAddress),
             tokenId:               tokenId_,
-            pool:                  pool,
-            owner:                 ownerOf(tokenId_),
-            indexes:               tokenInfo.positionIndexes.values()
+            owner:                 ownerOf(tokenId_)
         });
 
         return PositionNFTSVG.constructTokenURI(params);

diff --git a/src/base/Pool.sol b/src/base/Pool.sol
@@ -59,7 +59,8 @@ import {
     _revertIfAuctionDebtLocked,
     _revertIfAuctionClearable,
     _revertAfterExpiry,
-    _revertIfAuctionPriceBelow
+    _revertIfAuctionPriceBelow,
+    _revertIfActiveAuctions
 }                               from '../libraries/helpers/RevertsHelper.sol';
 
 import { Buckets }  from '../libraries/internal/Buckets.sol';
@@ -159,7 +160,7 @@ abstract contract Pool is Clone, ReentrancyGuard, Multicall, IPool {
 
         _revertIfAuctionClearable(auctions, loans);
 
-        _revertIfAuctionPriceBelow(index_, auctions);
+        _revertIfAuctionPriceBelow(auctions, index_);
 
         PoolState memory poolState = _accruePoolInterest();
 
@@ -195,7 +196,7 @@ abstract contract Pool is Clone, ReentrancyGuard, Multicall, IPool {
 
         _revertIfAuctionClearable(auctions, loans);
 
-        _revertIfAuctionPriceBelow(toIndex_, auctions);
+        _revertIfAuctionPriceBelow(auctions, toIndex_);
 
         PoolState memory poolState = _accruePoolInterest();
 
@@ -399,7 +400,7 @@ abstract contract Pool is Clone, ReentrancyGuard, Multicall, IPool {
      *  @dev    - `KickReserveAuction`
      */
     function kickReserveAuction() external override nonReentrant {
-        _revertIfAuctionClearable(auctions, loans);
+        _revertIfActiveAuctions(auctions);
 
         // start a new claimable reserve auction, passing in relevant parameters such as the current pool size, debt, balance, and inflator value
         KickerActions.kickReserveAuction(
@@ -909,7 +910,7 @@ abstract contract Pool is Clone, ReentrancyGuard, Multicall, IPool {
         Loan memory loan = Loans.getByIndex(loans, loanId_);
         return (
             loan.borrower,
-            loan.thresholdPrice
+            Maths.wmul(loan.thresholdPrice, COLLATERALIZATION_FACTOR)
         );
     }
 

diff --git a/src/interfaces/pool/commons/IPoolErrors.sol b/src/interfaces/pool/commons/IPoolErrors.sol
@@ -15,11 +15,6 @@ interface IPoolErrors {
      */
     error AddAboveAuctionPrice();
 
-    /**
-     *  @notice `LP` allowance is already set by the owner.
-     */
-    error AllowanceAlreadySet();
-
     /**
      *  @notice The action cannot be executed on an active auction.
      */
@@ -143,11 +138,6 @@ interface IPoolErrors {
      */
     error LUPBelowHTP();
 
-    /**
-     *  @notice Liquidation must result in `LUP` below the borrowers threshold price.
-     */
-    error LUPGreaterThanTP();
-
     /**
      *  @notice From index and to index arguments to move are the same.
      */
@@ -184,11 +174,6 @@ interface IPoolErrors {
      */
     error NoDebt();
 
-    /**
-     *  @notice Borrower is attempting to borrow an amount of quote tokens that will push the pool into under-collateralization.
-     */
-    error PoolUnderCollateralized();
-
     /**
      *  @notice Actor is attempting to kick with bucket price below the `LUP`.
      */

diff --git a/src/interfaces/pool/commons/IPoolInternals.sol b/src/interfaces/pool/commons/IPoolInternals.sol
@@ -15,7 +15,6 @@ struct KickResult {
     uint256 amountToCoverBond;    // [WAD] amount of bond that needs to be covered
     uint256 t0KickedDebt;         // [WAD] new t0 debt after kick
     uint256 collateralPreAction;  // [WAD] The amount of borrower collateral before kick, same as the one after kick
-    uint256 poolDebt;             // [WAD] current debt in pool after kick
     uint256 lup;                  // [WAD] current LUP in pool after kick
 }
 

diff --git a/src/interfaces/pool/commons/IPoolState.sol b/src/interfaces/pool/commons/IPoolState.sol
@@ -200,9 +200,9 @@ interface IPoolState {
 
     /**
      *  @notice Returns information about a loan in the pool.
-     *  @param  loanId_         Loan's id within loan heap. Max loan is position `1`.
-     *  @return borrower_       Borrower address at the given position.
-     *  @return thresholdPrice_ Borrower threshold price in pool.
+     *  @param  loanId_           Loan's id within loan heap. Max loan is position `1`.
+     *  @return borrower_         Borrower address at the given position.
+     *  @return t0ThresholdPrice_ Borrower t0 threshold price in pool.
      */
     function loanInfo(
         uint256 loanId_
@@ -211,7 +211,7 @@ interface IPoolState {
         view
         returns (
             address borrower_,
-            uint256 thresholdPrice_
+            uint256 t0ThresholdPrice_
     );
 
     /**

diff --git a/src/interfaces/rewards/IRewardsManagerErrors.sol b/src/interfaces/rewards/IRewardsManagerErrors.sol
@@ -21,11 +21,6 @@ interface IRewardsManagerErrors {
      */
     error InsufficientLiquidity();
 
-    /**
-     *  @notice User provided move index params that didn't match in size.
-     */
-    error MoveStakedLiquidityInvalid();
-
     /**
      * @notice User attempted to update exchange rates for a pool that wasn't deployed by an `Ajna` factory.
      */

diff --git a/src/interfaces/rewards/IRewardsManagerEvents.sol b/src/interfaces/rewards/IRewardsManagerEvents.sol
@@ -23,18 +23,6 @@ interface IRewardsManagerEvents {
         uint256 amount
     );
 
-     /**
-     *  @notice Emitted when moves liquidity in a staked `NFT` between buckets.
-     *  @param  tokenId     `ID` of the staked `NFT`.
-     *  @param  fromIndexes Array of indexes from which liquidity was moved.
-     *  @param  toIndexes   Array of indexes to which liquidity was moved.
-     */
-    event MoveStakedLiquidity(
-        uint256 tokenId,
-        uint256[] fromIndexes,
-        uint256[] toIndexes
-    );
-
     /**
      *  @notice Emitted when lender stakes their `LP` `NFT` in the rewards contract.
      *  @param  owner    Owner of the staked `NFT`.

diff --git a/src/libraries/external/BorrowerActions.sol b/src/libraries/external/BorrowerActions.sol
@@ -46,7 +46,6 @@ library BorrowerActions {
     struct DrawDebtLocalVars {
         bool    borrow;                // true if borrow action
         uint256 borrowerDebt;          // [WAD] borrower's accrued debt
-        uint256 compensatedCollateral; // [WAD] amount of borrower collateral that is compensated with LP (NFTs only)
         uint256 t0BorrowAmount;        // [WAD] t0 amount to borrow
         uint256 t0DebtChange;          // [WAD] additional t0 debt resulted from draw debt action
         bool    pledge;                // true if pledge action
@@ -56,7 +55,6 @@ library BorrowerActions {
     /// @dev Struct used for `repayDebt` function local vars.
     struct RepayDebtLocalVars {
         uint256 borrowerDebt;          // [WAD] borrower's accrued debt
-        uint256 compensatedCollateral; // [WAD] amount of borrower collateral that is compensated with LP (NFTs only)
         bool    pull;                  // true if pull action
         bool    repay;                 // true if repay action
         bool    stampNpTpRatio;        // true if loan's Np to Tp ratio should be restamped (when repay settles auction or pull collateral)

diff --git a/src/libraries/external/KickerActions.sol b/src/libraries/external/KickerActions.sol
@@ -337,7 +337,8 @@ library KickerActions {
         // neutral price = Tp * Np to Tp ratio
         // neutral price is capped at 50 * max pool price
         vars.neutralPrice = Maths.min(
-            Math.mulDiv(vars.borrowerDebt, vars.borrowerNpTpRatio, vars.borrowerCollateral),
+            Math.mulDiv(Maths.wmul(vars.borrowerDebt, COLLATERALIZATION_FACTOR), 
+            vars.borrowerNpTpRatio, vars.borrowerCollateral),
             MAX_INFLATED_PRICE
         );
         // check if NP is not less than price at the limit index provided by the kicker - done to prevent frontrunning kick auction call with a large amount of loan

diff --git a/src/libraries/external/PositionNFTSVG.sol b/src/libraries/external/PositionNFTSVG.sol
@@ -21,9 +21,7 @@ library PositionNFTSVG {
         string collateralTokenSymbol; // the symbol of collateral token of the pool
         string quoteTokenSymbol;      // the symbol of quote token of the pool
         uint256 tokenId;              // the ID of positions NFT token
-        address pool;                 // the address of pool tracked in positions NFT token
         address owner;                // the owner of positions NFT token
-        uint256[] indexes;            // the array of price buckets index with LP to be tracked by the NFT
     }
 
     /*******************************/

diff --git a/src/libraries/external/TakerActions.sol b/src/libraries/external/TakerActions.sol
@@ -84,7 +84,6 @@ library TakerActions {
         uint256 bucketScale;                 // [WAD] The bucket scale.
         uint256 collateralAmount;            // [WAD] The amount of collateral taken.
         uint256 excessQuoteToken;            // [WAD] Difference of quote token that borrower receives after take (for fractional NFT only)
-        uint256 factor;                      // The take factor, calculated based on bond penalty factor.
         bool    isRewarded;                  // True if kicker is rewarded (auction price lower than neutral price), false if penalized (auction price greater than neutral price).
         address kicker;                      // Address of auction kicker.
         uint256 quoteTokenAmount;            // [WAD] Scaled quantity in Fenwick tree and before 1-bpf factor, paid for collateral
@@ -370,14 +369,6 @@ library TakerActions {
 
         _rewardTake(auctions_, liquidation, vars_);
 
-        emit Take(
-            params_.borrower,
-            vars_.quoteTokenAmount,
-            vars_.collateralAmount,
-            vars_.bondChange,
-            vars_.isRewarded
-        );
-
         if (params_.poolType == uint8(PoolType.ERC721)) {
             // slither-disable-next-line divide-before-multiply
             uint256 collateralTaken = (vars_.collateralAmount / 1e18) * 1e18; // solidity rounds down, so if 2.5 it will be 2.5 / 1 = 2
@@ -398,6 +389,14 @@ library TakerActions {
                 }
             }
         }
+
+        emit Take(
+            params_.borrower,
+            vars_.quoteTokenAmount,
+            vars_.collateralAmount,
+            vars_.bondChange,
+            vars_.isRewarded
+        );
     }
 
     /**
@@ -705,7 +704,6 @@ library TakerActions {
             liquidation_.bondFactor,
             bucketPrice_ == 0 ? vars.auctionPrice : bucketPrice_
         );
-        vars.factor       = uint256(1e18 - Maths.maxInt(0, vars.bpf));
         vars.kicker       = liquidation_.kicker;
         vars.isRewarded   = (vars.bpf  >= 0);
     }

diff --git a/src/libraries/helpers/RevertsHelper.sol b/src/libraries/helpers/RevertsHelper.sol
@@ -76,16 +76,16 @@ import { Maths }    from '../internal/Maths.sol';
         if (newPrice_ < _priceAt(limitIndex_)) revert LimitIndexExceeded();
     }
 
-/**
+    /**
      *  @notice  Check if provided price is above current auction price.
      *  @notice  Prevents manipulative deposits and arbTakes.
      *  @dev     Reverts with `AddAboveAuctionPrice` if price is above head of auction queue.
-     *  @param index_    Identifies bucket price to be compared with current auction price.
      *  @param auctions_ Auctions data.
+     *  @param index_    Identifies bucket price to be compared with current auction price.
      */
     function _revertIfAuctionPriceBelow(
-        uint256 index_,
-        AuctionsState storage auctions_
+        AuctionsState storage auctions_,
+        uint256 index_
     ) view {
         address head = auctions_.head;
         if (head != address(0)) {
@@ -94,6 +94,18 @@ import { Maths }    from '../internal/Maths.sol';
         }
     }
 
+    /**
+     *  @notice  Check if there are still active / non settled auctions in pool.
+     *  @notice  Prevents kicking reserves auctions until all pending auctions are fully settled.
+     *  @dev     Reverts with `AuctionNotCleared`.
+     *  @param auctions_ Auctions data.
+     */
+    function _revertIfActiveAuctions(
+        AuctionsState storage auctions_
+    ) view {
+        if (auctions_.noOfAuctions != 0) revert AuctionNotCleared();
+    }
+
     /**
      *  @notice Check if expiration provided by user has met or exceeded current block height timestamp.
      *  @notice Prevents stale transactions interacting with the pool at potentially unfavorable prices.

diff --git a/tests/forge/interactions/BalancerUniswapExample.sol b/tests/forge/interactions/BalancerUniswapExample.sol
@@ -53,7 +53,7 @@ contract BalancerUniswapTaker {
 
         // take auction from Ajna pool, give USDC, receive WETH
         IAjnaPool(decoded.ajnaPool).take(decoded.borrower, decoded.maxAmount, address(this), new bytes(0));
-        uint256 usdcBalanceAfterTake = 81974358;
+        uint256 usdcBalanceAfterTake = 81253332;
         assert(tokens[0].balanceOf(address(this)) == usdcBalanceAfterTake); // USDC balance after Ajna take
         assert(tokens[1].balanceOf(address(this)) == 2000000000000000000);  // WETH balance after Ajna take
 

diff --git a/tests/forge/interactions/ERC20TakeWithExternalLiquidity.t.sol b/tests/forge/interactions/ERC20TakeWithExternalLiquidity.t.sol
@@ -105,7 +105,7 @@ contract ERC20TakeWithExternalLiquidityTest is Test {
             })
         );
         vm.expectEmit(true, true, false, true);
-        emit Take(_borrower, 18.025641486856350208 * 1e18, 2.0 * 1e18, 0.201532798513255896 * 1e18, true);
+        emit Take(_borrower, 18.746667146330604216 * 1e18, 2.0 * 1e18, 0.209594110453786132 * 1e18, true);
         taker.take(tokens, amounts, data);
 
         assertGt(usdc.balanceOf(address(this)), 0); // could vary
@@ -126,7 +126,7 @@ contract ERC20TakeWithExternalLiquidityTest is Test {
         // call take using taker contract
         bytes memory data = abi.encode(address(_ajnaPool));
         vm.expectEmit(true, true, false, true);
-        emit Take(_borrower, 18.025641486856350208 * 1e18, 2.0 * 1e18, 0.201532798513255896 * 1e18, true);
+        emit Take(_borrower, 18.746667146330604216 * 1e18, 2.0 * 1e18, 0.209594110453786132 * 1e18, true);
         _ajnaPool.take(_borrower, takeAmount, address(taker), data);
 
         // confirm we earned some quote token
@@ -148,7 +148,7 @@ contract ERC20TakeWithExternalLiquidityTest is Test {
         _ajnaPool.take(_borrower, 1_001 * 1e18, _lender1, new bytes(0));
 
         // _lender is has QT deducted from balance
-        assertEq(usdc.balanceOf(_lender), 119_999.999999926981758794 * 1e18);
+        assertEq(usdc.balanceOf(_lender), 119_999.999999926981037768 * 1e18);
         assertEq(weth.balanceOf(_lender), 0);
 
         // callee, _lender1 receives CT from take

diff --git a/tests/forge/interactions/ERC721TakeWithExternalLiquidity.sol b/tests/forge/interactions/ERC721TakeWithExternalLiquidity.sol
@@ -80,14 +80,14 @@ contract ERC721TakeWithExternalLiquidityTest is ERC721HelperContract {
         // call take using taker contract
         bytes memory data = abi.encode(address(_pool));
         vm.expectEmit(true, true, false, true);
-        uint256 quoteTokenPaid = 1_082.785034492073132320 * 1e18;
+        uint256 quoteTokenPaid = 1_126.096435871756057616 * 1e18;
         uint256 collateralPurchased = 2 * 1e18;
-        uint256 bondChange = 12.105904710718649453 * 1e18;
+        uint256 bondChange = 12.590140899147395432 * 1e18;
         emit Take(_borrower, quoteTokenPaid, collateralPurchased, bondChange, true);
         _pool.take(_borrower, 2, address(taker), data);
 
         // confirm we earned some quote token
-        assertEq(_quote.balanceOf(address(taker)), 417.214965507926867680 * 1e18);
+        assertEq(_quote.balanceOf(address(taker)), 373.903564128243942384 * 1e18);
     }
 
     function testTakeNFTCalleeDiffersFromSender() external { 
@@ -110,14 +110,14 @@ contract ERC721TakeWithExternalLiquidityTest is ERC721HelperContract {
         changePrank(_lender);
         bytes memory data = abi.encode(address(_pool));
         vm.expectEmit(true, true, false, true);
-        uint256 quoteTokenPaid = 1_082.785034492073132320 * 1e18;
+        uint256 quoteTokenPaid = 1_126.096435871756057616 * 1e18;
         uint256 collateralPurchased = 2 * 1e18;
-        uint256 bondChange = 12.105904710718649453 * 1e18;
+        uint256 bondChange = 12.590140899147395432 * 1e18;
         emit Take(_borrower, quoteTokenPaid, collateralPurchased, bondChange, true);
         _pool.take(_borrower, 2, address(taker), data);
 
         // _lender is msg.sender, QT & CT balances post take
-        assertEq(_quote.balanceOf(_lender), 48_895.437905421641180379 * 1e18);
+        assertEq(_quote.balanceOf(_lender), 48_852.126504041958255083 * 1e18);
         assertEq(_quote.balanceOf(address(taker)), 1_500.0 * 1e18); // QT is increased as NFTTakeExample contract sells the NFT
     }
 }
diff --git a/...s/forge/invariants/PositionsAndRewards/handlers/unbounded/UnboundedRewardsPoolHandler.sol b/...s/forge/invariants/PositionsAndRewards/handlers/unbounded/UnboundedRewardsPoolHandler.sol
@@ -294,7 +294,6 @@ abstract contract UnboundedRewardsPoolHandler is UnboundedPositionPoolHandler {
             err == keccak256(abi.encodeWithSignature("AlreadyClaimed()")) ||
             err == keccak256(abi.encodeWithSignature("EpochNotAvailable()")) ||
             err == keccak256(abi.encodeWithSignature("InsufficientLiquidity()")) ||
-            err == keccak256(abi.encodeWithSignature("MoveStakedLiquidityInvalid()")) ||
             err == keccak256(abi.encodeWithSignature("NotAjnaPool()")) ||
             err == keccak256(abi.encodeWithSignature("NotOwnerOfDeposit()")) ||
             err == keccak256(abi.encodeWithSignature("DeployWithZeroAddress()")),