vault share pricing and unmatured position valuation (#4)

* refactor position accounting into library * positive interest works * cleanup, rename playground to pricing test, add remappings.txt to massively speed up LSP * add tests for hyperdrive w/ fees * moving things around and adding tests for portfolio value estimation * massively simplify calculateCloseLong and remove unused internal contracts * hyperdrive execution math is exact * wei-exact accounting * comment all the things * Update Everlong.sol Co-authored-by: Alex Towle <[email protected]> * Update IEverlong.sol Co-authored-by: Alex Towle <[email protected]> * Update contracts/interfaces/IEverlong.sol Co-authored-by: Alex Towle <[email protected]> * addressing feedback from @jalextowle * addressing feedback from @jalextowle * testing fixes (#5) * tmp * portfolio and 4626 fixes/tests * fix rebase issues * update existing tests, remove position tests (will re-add similar scope with idle liquidity feature) * Update test/units/EverlongPortfolio.t.sol Co-authored-by: Alex Towle <[email protected]> * Update contracts/Everlong.sol Co-authored-by: Alex Towle <[email protected]> --------- Co-authored-by: Alex Towle <[email protected]> --------- Co-authored-by: Alex Towle <[email protected]>
delvtech · Sep 9, 2024 · 60ec1f1 · 60ec1f1
1 parent 599067b
commit 60ec1f1
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diff --git a/.gitignore b/.gitignore
@@ -137,3 +137,7 @@ lcov.info
 
 # vscode workspace settings
 .vscode
+
+# notes
+NOTES.md
+TODO.md
diff --git a/contracts/Everlong.sol b/contracts/Everlong.sol
diff --git a/contracts/interfaces/IEverlong.sol b/contracts/interfaces/IEverlong.sol
@@ -1,31 +1,43 @@
 // SPDX-License-Identifier: Apache-2.0
 pragma solidity ^0.8.20;
 
-import { IERC4626 } from "openzeppelin/interfaces/IERC4626.sol";
+import { ERC4626 } from "solady/tokens/ERC4626.sol";
 import { IEverlongAdmin } from "./IEverlongAdmin.sol";
 import { IEverlongEvents } from "./IEverlongEvents.sol";
-import { IEverlongPositions } from "./IEverlongPositions.sol";
+import { IEverlongPortfolio } from "./IEverlongPortfolio.sol";
 
-interface IEverlong is
+abstract contract IEverlong is
+    ERC4626,
     IEverlongAdmin,
-    IERC4626,
     IEverlongEvents,
-    IEverlongPositions
+    IEverlongPortfolio
 {
+    // ╭─────────────────────────────────────────────────────────╮
+    // │ Structs                                                 │
+    // ╰─────────────────────────────────────────────────────────╯
+
+    /// @notice Contains the information needed to identify an open Hyperdrive position.
+    struct Position {
+        /// @notice Time when the position matures.
+        uint128 maturityTime;
+        /// @notice Amount of bonds in the position.
+        uint128 bondAmount;
+    }
+
     // ╭─────────────────────────────────────────────────────────╮
     // │ Getters                                                 │
     // ╰─────────────────────────────────────────────────────────╯
 
     /// @notice Gets the address of the underlying Hyperdrive Instance
-    function hyperdrive() external view returns (address);
+    function hyperdrive() external view virtual returns (address);
 
     /// @notice Gets the Everlong instance's kind.
     /// @return The Everlong instance's kind.
-    function kind() external pure returns (string memory);
+    function kind() external pure virtual returns (string memory);
 
     /// @notice Gets the Everlong instance's version.
     /// @return The Everlong instance's version.
-    function version() external pure returns (string memory);
+    function version() external pure virtual returns (string memory);
 
     // ╭─────────────────────────────────────────────────────────╮
     // │ Errors                                                  │
@@ -35,18 +47,4 @@ interface IEverlong is
 
     /// @notice Thrown when caller is not the admin.
     error Unauthorized();
-
-    // ── Positions ──────────────────────────────────────────────
-
-    /// @notice Thrown when attempting to insert a position with
-    ///         a `maturityTime` sooner than the most recent position's.
-    error InconsistentPositionMaturity();
-
-    /// @notice Thrown when attempting to close a position with
-    ///         a `bondAmount` greater than that contained by the position.
-    error InconsistentPositionBondAmount();
-
-    /// @notice Thrown when a target idle amount is too high to be reached
-    ///         even after closing all positions.
-    error TargetIdleTooHigh();
 }
diff --git a/contracts/interfaces/IEverlongEvents.sol b/contracts/interfaces/IEverlongEvents.sol
@@ -10,25 +10,12 @@ interface IEverlongEvents {
     // ── Positions ──────────────────────────────────────────────
 
     /// @notice Emitted when a new position is added to the bond portfolio.
-    /// @dev This event will only be emitted with new `maturityTime`s in the portfolio.
     /// TODO: Reconsider naming https://github.com/delvtech/hyperdrive/pull/1096#discussion_r1681337414
-    event PositionOpened(
-        uint128 indexed maturityTime,
-        uint128 bondAmount,
-        uint256 index
-    );
-
-    /// @notice Emitted when an existing position's `bondAmount` is modified.
-    /// TODO: Reconsider naming https://github.com/delvtech/hyperdrive/pull/1096#discussion_r1681337414
-    event PositionUpdated(
-        uint128 indexed maturityTime,
-        uint128 newBondAmount,
-        uint256 index
-    );
+    event PositionOpened(uint128 indexed maturityTime, uint128 bondAmount);
 
     /// @notice Emitted when an existing position is closed.
     /// TODO: Reconsider naming https://github.com/delvtech/hyperdrive/pull/1096#discussion_r1681337414
-    event PositionClosed(uint128 indexed maturityTime);
+    event PositionClosed(uint128 indexed maturityTime, uint128 bondAmount);
 
     /// @notice Emitted when Everlong's underlying portfolio is rebalanced.
     event Rebalanced();

diff --git a/contracts/interfaces/IEverlongPositions.sol → contracts/interfaces/IEverlongPortfolio.sol b/contracts/interfaces/IEverlongPositions.sol → contracts/interfaces/IEverlongPortfolio.sol
@@ -1,9 +1,9 @@
 // SPDX-License-Identifier: Apache-2.0
 pragma solidity ^0.8.20;
 
-import { Position } from "../types/Position.sol";
+import { IEverlong } from "./IEverlong.sol";
 
-interface IEverlongPositions {
+interface IEverlongPortfolio {
     // ╭─────────────────────────────────────────────────────────╮
     // │ Stateful                                                │
     // ╰─────────────────────────────────────────────────────────╯
@@ -17,25 +17,20 @@ interface IEverlongPositions {
 
     /// @notice Gets the number of positions managed by the Everlong instance.
     /// @return The number of positions.
-    function getPositionCount() external view returns (uint256);
+    function positionCount() external view returns (uint256);
 
     /// @notice Gets the position at an index.
     ///         Position `maturityTime` increases with each index.
     /// @param _index The index of the position.
     /// @return The position.
-    function getPosition(
+    function positionAt(
         uint256 _index
-    ) external view returns (Position memory);
+    ) external view returns (IEverlong.Position memory);
 
     /// @notice Determines whether any positions are matured.
     /// @return True if any positions are matured, false otherwise.
     function hasMaturedPositions() external view returns (bool);
 
-    /// @notice Determines whether Everlong has sufficient excess liquidity
-    ///         for opening a long.
-    /// @return True if sufficient excess liquidity, false otherwise.
-    function hasSufficientExcessLiquidity() external view returns (bool);
-
     /// @notice Determines whether Everlong's portfolio can currently be rebalanced.
     /// @return True if the portfolio can be rebalanced, false otherwise.
     function canRebalance() external view returns (bool);

diff --git a/contracts/internal/EverlongAdmin.sol b/contracts/internal/EverlongAdmin.sol
diff --git a/contracts/internal/EverlongBase.sol b/contracts/internal/EverlongBase.sol
diff --git a/contracts/internal/EverlongERC4626.sol b/contracts/internal/EverlongERC4626.sol