Merge pull request #78 from euler-xyz/fix-convert-fees

fix convert fees total shares

src/EVault/EVault.sol

@@ -161,14 +161,20 @@ contract EVault is Dispatch {
 
     function governorAdmin() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
 
+    function feeReceiver() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
+
     function interestFee() public view virtual override useView(MODULE_GOVERNANCE) returns (uint16) {}
 
+    function interestRateModel() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
+
     function protocolConfigAddress() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
 
     function protocolFeeShare() public view virtual override useView(MODULE_GOVERNANCE) returns (uint256) {}
 
     function protocolFeeReceiver() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
 
+    function caps() public view virtual override useView(MODULE_GOVERNANCE) returns (uint16 supplyCap, uint16 borrowCap) {}
+
     function borrowingLTV(address collateral) public view virtual override useView(MODULE_GOVERNANCE) returns (uint16) {}
 
     function liquidationLTV(address collateral) public view virtual override useView(MODULE_GOVERNANCE) returns (uint16) {}
@@ -177,24 +183,19 @@ contract EVault is Dispatch {
 
     function LTVList() public view virtual override useView(MODULE_GOVERNANCE) returns (address[] memory) {}
 
-    function interestRateModel() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
-
     function hookConfig() public view virtual override useView(MODULE_GOVERNANCE) returns (address, uint32) {}
 
     function configFlags() public view virtual override useView(MODULE_GOVERNANCE) returns (uint32) {}
 
-    function caps() public view virtual override useView(MODULE_GOVERNANCE) returns (uint16 supplyCap, uint16 borrowCap) {}
-
-    function feeReceiver() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
-
     function EVC() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
 
-    function permit2Address() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
-
     function unitOfAccount() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
 
     function oracle() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
 
+    function permit2Address() public view virtual override useView(MODULE_GOVERNANCE) returns (address) {}
+
+
     function convertFees() public virtual override callThroughEVC use(MODULE_GOVERNANCE) {}
 
     function setName(string calldata newName) public virtual override use(MODULE_GOVERNANCE) {}

src/EVault/IEVault.sol

@@ -300,10 +300,17 @@ interface IGovernance {
     /// @notice Retrieves the address of the governor
     function governorAdmin() external view returns (address);
 
+    /// @notice Retrieves address of the governance fee receiver
+    function feeReceiver() external view returns (address);
+
     /// @notice Retrieves the interest fee in effect for the vault
     /// @return Amount of interest that is redirected as a fee, as a fraction scaled by 1e4
     function interestFee() external view returns (uint16);
 
+    /// @notice Looks up an asset's currently configured interest rate model
+    /// @return Address of the interest rate contract or address zero to indicate 0% interest
+    function interestRateModel() external view returns (address);
+
     /// @notice Retrieves the ProtocolConfig address
     function protocolConfigAddress() external view returns (address);
 
@@ -314,6 +321,9 @@ interface IGovernance {
     /// @notice Retrieves the address which will receive protocol's fees
     function protocolFeeReceiver() external view returns (address);
 
+    /// @notice Retrieves supply and borrow caps in AmountCap format
+    function caps() external view returns (uint16 supplyCap, uint16 borrowCap);
+
     /// @notice Retrieves regular LTV, set for the collateral, which is used to determine the health of the account
     function borrowingLTV(address collateral) external view returns (uint16);
 
@@ -336,34 +346,24 @@ interface IGovernance {
     /// @dev The list can have duplicates. Returned assets could have the ltv disabled (set to zero)
     function LTVList() external view returns (address[] memory);
 
-    /// @notice Looks up an asset's currently configured interest rate model
-    /// @return Address of the interest rate contract or address zero to indicate 0% interest
-    function interestRateModel() external view returns (address);
-
     /// @notice Retrieves a hook target and a bitmask indicating which operations call the hook target.
     function hookConfig() external view returns (address, uint32);
 
     /// @notice Retrieves a bitmask indicating enabled config flags.
     function configFlags() external view returns (uint32);
 
-    /// @notice Retrieves supply and borrow caps in AmountCap format
-    function caps() external view returns (uint16 supplyCap, uint16 borrowCap);
-
-    /// @notice Retrieves address of the governance fee receiver
-    function feeReceiver() external view returns (address);
-
     /// @notice Address of EthereumVaultConnector contract
     function EVC() external view returns (address);
 
-    /// @notice Retrieves the Permit2 contract address
-    function permit2Address() external view returns (address);
-
     /// @notice Retrieves a reference asset used for liquidity calculations
     function unitOfAccount() external view returns (address);
 
     /// @notice Retrieves the address of the oracle contract
     function oracle() external view returns (address);
 
+    /// @notice Retrieves the Permit2 contract address
+    function permit2Address() external view returns (address);
+
     /// @notice Splits accrued fees balance according to protocol fee share and transfers shares to the governor fee receiver and protocol fee receiver
     function convertFees() external;
 

src/EVault/modules/Governance.sol

@@ -43,11 +43,26 @@ abstract contract GovernanceModule is IGovernance, Base, BalanceUtils, BorrowUti
         return vaultStorage.governorAdmin;
     }
 
+    /// @inheritdoc IGovernance
+    function feeReceiver() public view virtual reentrantOK returns (address) {
+        return vaultStorage.feeReceiver;
+    }
+
     /// @inheritdoc IGovernance
     function interestFee() public view virtual reentrantOK returns (uint16) {
         return vaultStorage.interestFee.toUint16();
     }
 
+    /// @inheritdoc IGovernance
+    function interestRateModel() public view virtual reentrantOK returns (address) {
+        return vaultStorage.interestRateModel;
+    }
+
+    /// @inheritdoc IGovernance
+    function protocolConfigAddress() public view virtual reentrantOK returns (address) {
+        return address(protocolConfig);
+    }
+
     /// @inheritdoc IGovernance
     function protocolFeeShare() public view virtual reentrantOK returns (uint256) {
         (, uint256 protocolShare) = protocolConfig.protocolFeeConfig(address(this));
@@ -61,8 +76,8 @@ abstract contract GovernanceModule is IGovernance, Base, BalanceUtils, BorrowUti
     }
 
     /// @inheritdoc IGovernance
-    function protocolConfigAddress() public view virtual reentrantOK returns (address) {
-        return address(protocolConfig);
+    function caps() public view virtual reentrantOK returns (uint16, uint16) {
+        return (vaultStorage.supplyCap.toRawUint16(), vaultStorage.borrowCap.toRawUint16());
     }
 
     /// @inheritdoc IGovernance
@@ -86,11 +101,6 @@ abstract contract GovernanceModule is IGovernance, Base, BalanceUtils, BorrowUti
         return vaultStorage.ltvList;
     }
 
-    /// @inheritdoc IGovernance
-    function interestRateModel() public view virtual reentrantOK returns (address) {
-        return vaultStorage.interestRateModel;
-    }
-
     /// @inheritdoc IGovernance
     function hookConfig() public view virtual reentrantOK returns (address, uint32) {
         return (vaultStorage.hookTarget, vaultStorage.hookedOps.toUint32());
@@ -101,26 +111,11 @@ abstract contract GovernanceModule is IGovernance, Base, BalanceUtils, BorrowUti
         return (vaultStorage.configFlags.toUint32());
     }
 
-    /// @inheritdoc IGovernance
-    function caps() public view virtual reentrantOK returns (uint16, uint16) {
-        return (vaultStorage.supplyCap.toRawUint16(), vaultStorage.borrowCap.toRawUint16());
-    }
-
-    /// @inheritdoc IGovernance
-    function feeReceiver() public view virtual reentrantOK returns (address) {
-        return vaultStorage.feeReceiver;
-    }
-
     /// @inheritdoc IGovernance
     function EVC() public view virtual reentrantOK returns (address) {
         return address(evc);
     }
 
-    /// @inheritdoc IGovernance
-    function permit2Address() public view virtual reentrantOK returns (address) {
-        return permit2;
-    }
-
     /// @inheritdoc IGovernance
     function unitOfAccount() public view virtual reentrantOK returns (address) {
         (,, address _unitOfAccount) = ProxyUtils.metadata();
@@ -133,6 +128,11 @@ abstract contract GovernanceModule is IGovernance, Base, BalanceUtils, BorrowUti
         return address(_oracle);
     }
 
+    /// @inheritdoc IGovernance
+    function permit2Address() public view virtual reentrantOK returns (address) {
+        return permit2;
+    }
+
     /// @inheritdoc IGovernance
     function convertFees() public virtual nonReentrant {
         (VaultCache memory vaultCache, address account) = initOperation(OP_CONVERT_FEES, CHECKACCOUNT_NONE);
@@ -151,11 +151,11 @@ abstract contract GovernanceModule is IGovernance, Base, BalanceUtils, BorrowUti
         Shares governorShares = vaultCache.accumulatedFees.mulDiv(1e4 - protocolFee, 1e4);
         Shares protocolShares = vaultCache.accumulatedFees - governorShares;
 
-        vaultStorage.accumulatedFees = vaultCache.accumulatedFees = Shares.wrap(0);
-
         // Decrease totalShares because increaseBalance will increase it by that total amount
         vaultStorage.totalShares = vaultCache.totalShares = vaultCache.totalShares - vaultCache.accumulatedFees;
 
+        vaultStorage.accumulatedFees = vaultCache.accumulatedFees = Shares.wrap(0);
+
         // For the Deposit events in increaseBalance the assets amount is zero - the shares are covered with the accrued interest
         if (!governorShares.isZero()) {
             increaseBalance(vaultCache, governorReceiver, address(0), governorShares, Assets.wrap(0));

test/unit/evault/EVaultTestBase.t.sol

@@ -42,6 +42,7 @@ contract EVaultTestBase is AssertionsCustomTypes, Test, DeployPermit2 {
     EthereumVaultConnector public evc;
     address admin;
     address feeReceiver;
+    address protocolFeeReceiver;
     ProtocolConfig protocolConfig;
     address balanceTracker;
     MockPriceOracle oracle;
@@ -73,10 +74,11 @@ contract EVaultTestBase is AssertionsCustomTypes, Test, DeployPermit2 {
     function setUp() public virtual {
         admin = vm.addr(1000);
         feeReceiver = makeAddr("feeReceiver");
+        protocolFeeReceiver = makeAddr("protocolFeeReceiver");
         factory = new GenericFactory(admin);
 
         evc = new EthereumVaultConnector();
-        protocolConfig = new ProtocolConfig(admin, feeReceiver);
+        protocolConfig = new ProtocolConfig(admin, protocolFeeReceiver);
         balanceTracker = address(new MockBalanceTracker());
         oracle = new MockPriceOracle();
         unitOfAccount = address(1);

test/unit/evault/modules/Governance/convertFees.t.sol

@@ -0,0 +1,61 @@
+// SPDX-License-Identifier: GPL-2.0-or-later
+
+pragma solidity ^0.8.0;
+
+import "../../EVaultTestBase.t.sol";
+
+contract Governance_ConvertFees is EVaultTestBase {
+    using TypesLib for uint256;
+
+    address depositor;
+    address borrower;
+
+    function setUp() public override {
+        super.setUp();
+
+        depositor = makeAddr("depositor");
+        borrower = makeAddr("borrower");
+
+        // Setup
+
+        oracle.setPrice(address(assetTST), unitOfAccount, 1e18);
+        oracle.setPrice(address(eTST2), unitOfAccount, 1e18);
+
+        eTST.setLTV(address(eTST2), 0.9e4, 0);
+
+        // Depositor
+
+        startHoax(depositor);
+
+        assetTST.mint(depositor, type(uint256).max);
+        assetTST.approve(address(eTST), type(uint256).max);
+        eTST.deposit(100e18, depositor);
+
+        // Borrower
+
+        startHoax(borrower);
+
+        assetTST2.mint(borrower, type(uint256).max);
+        assetTST2.approve(address(eTST2), type(uint256).max);
+        eTST2.deposit(10e18, borrower);
+
+        evc.enableCollateral(borrower, address(eTST2));
+        evc.enableController(borrower, address(eTST));
+
+        eTST.borrow(5e18, borrower);
+    }
+
+    function test_Governance_convertFees() public {
+        skip(1000 days);
+
+        uint256 fees = eTST.accumulatedFees();
+        assertApproxEqAbs(fees, 0.03e18, 0.001e18);
+
+        uint256 totalSupplyBefore = eTST.totalSupply();
+
+        eTST.convertFees();
+
+        assertEq(eTST.totalSupply(), totalSupplyBefore);
+        assertEq(eTST.balanceOf(feeReceiver) + eTST.balanceOf(protocolFeeReceiver), fees);
+    }
+}

test/unit/evault/modules/Governance/interestRates.t.sol

@@ -4,7 +4,7 @@ pragma solidity ^0.8.0;
 
 import "../../EVaultTestBase.t.sol";
 
-contract GovernanceTest is EVaultTestBase {
+contract Governance_InterestRates is EVaultTestBase {
     using TypesLib for uint256;
 
     address depositor;