[WIP] evaluate whether a constant vault share price is an appropriate invariant #13
Conversation
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
mcclurejt
changed the title
mcclurejt
force-pushed
the
mcclurejt/feat/vault-share-price-invariant
branch
from
4152378
to
1c9a97c
Compare
mcclurejt
force-pushed
the
mcclurejt/feat/hyperdrive-error-handling
branch
2 times, most recently
from
01d9185
to
ad4d2d7
Compare
Base automatically changed from
mcclurejt/feat/hyperdrive-error-handling
to
main
October 31, 2024 21:58
…everlong's _totalAssets
Keepers are expected to use the configuration object to circumvent hyperdrive errors
…iant - Removed rebalancing from sandwich tests since the situation is supposed to be atomic - Keeping share price constant has the exact same effect as not distributing losses. - This results in bad UX + a DOS vector for small position sizes. - In the case of bonds devaluing via huge LP, this loss should affect others. - No need to handle the case where a redemption would be zero, with distributed losses this isn't possible. - Vault share price decreases on deposit, remains constant on redemption (for base atomic case).
mcclurejt
force-pushed
the
mcclurejt/feat/vault-share-price-invariant
branch
from
1c9a97c
to
0bb6b9c
Compare
mcclurejt
changed the title
Sign up for free
to join this conversation on GitHub.
Already have an account?
Sign in to comment
Add this suggestion to a batch that can be applied as a single commit.
This suggestion is invalid because no changes were made to the code.
Suggestions cannot be applied while the pull request is closed.
Suggestions cannot be applied while viewing a subset of changes.
Only one suggestion per line can be applied in a batch.
Add this suggestion to a batch that can be applied as a single commit.
Applying suggestions on deleted lines is not supported.
You must change the existing code in this line in order to create a valid suggestion.
Outdated suggestions cannot be applied.
This suggestion has been applied or marked resolved.
Suggestions cannot be applied from pending reviews.
Suggestions cannot be applied on multi-line comments.
Suggestions cannot be applied while the pull request is queued to merge.
Suggestion cannot be applied right now. Please check back later.
closes delvtech/hyperdrive#1195
This PR is the result of investigating whether holding share price constant is appropriate for Everlong. I don't believe it is. Keeping share price constant has the exact same effect as not distributing losses. This results in bad UX + a DOS vector for small position sizes.
In a simple atomic case, vault share price decreases during deposits and remains constant through withdrawals.
I've included a very basic playground for checking vault share price before/after various actions, as well as some cleanup items (comments / outdated tests / contract naming).