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Feat/range order collateral send back #713

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Feat/range order collateral send back #713

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784c371
feat/range-order-collateral-send-back: add send back collateral upon …
thegeronimo Nov 1, 2023
f837ea2
feat/range-order-collateral-send-back: add uniswap assets collected e…
thegeronimo Nov 1, 2023
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30 changes: 27 additions & 3 deletions packages/contracts/contracts/hedging/UniswapV3RangeOrderReactor.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -116,7 +116,15 @@ contract UniswapV3RangeOrderReactor is IUniswapV3MintCallback, IHedgingReactor,
);

event Withdraw(
uint256 amount
uint256 amount,
address receiver
);

event UniswapAssetsCollected(
uint256 burn0,
uint256 burn1,
uint256 fee0,
uint256 fee1
);

constructor(
Expand Down Expand Up @@ -246,6 +254,8 @@ contract UniswapV3RangeOrderReactor is IUniswapV3MintCallback, IHedgingReactor,
revert CustomErrors.RangeOrderNotFilled();
}
}
// after withdrawing liquidity send back collateral to parent pool
_transferCollateralBalanceToParentPool();
}

/// @notice compute total underlying holdings of the vault token supply
Expand Down Expand Up @@ -317,12 +327,12 @@ contract UniswapV3RangeOrderReactor is IUniswapV3MintCallback, IHedgingReactor,
}
if (_amount <= balance) {
SafeTransferLib.safeTransfer(ERC20(collateralAsset), msg.sender, _amount);
emit Withdraw(_amount);
emit Withdraw(_amount, msg.sender);
// return in collateral format
return _amount;
} else {
SafeTransferLib.safeTransfer(ERC20(collateralAsset), msg.sender, balance);
emit Withdraw(balance);
emit Withdraw(balance, msg.sender);
// return in collateral format
return balance;
}
Expand Down Expand Up @@ -633,6 +643,19 @@ contract UniswapV3RangeOrderReactor is IUniswapV3MintCallback, IHedgingReactor,
return currentPosition.activeLowerTick != currentPosition.activeUpperTick;
}

/**
* @notice use to transfer collateral balance to the parent liquidity pool
*/

function _transferCollateralBalanceToParentPool() internal {
uint256 balance = ERC20(collateralAsset).balanceOf(address(this));
if (balance == 0) {
return;
}
SafeTransferLib.safeTransfer(ERC20(collateralAsset), parentLiquidityPool, balance);
emit Withdraw(balance, parentLiquidityPool);
}

/**
* @notice transfer tokens from the parent liquidity pool
* @param token the address of the token to transfer
Expand Down Expand Up @@ -696,6 +719,7 @@ contract UniswapV3RangeOrderReactor is IUniswapV3MintCallback, IHedgingReactor,
fee1 = collect1 - burn1;
// mark no current position
delete currentPosition;
emit UniswapAssetsCollected(burn0, burn1, fee0, fee1);
}

/// @notice Withdraws all liquidity from a range order and collection outstanding fees
Expand Down
26 changes: 21 additions & 5 deletions packages/contracts/test/UniswapV3RangeOrderReactor.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -35,8 +35,6 @@ import {
import { WETH } from "../types/WETH"
import { LiquidityPool } from "../types/LiquidityPool"
import { arbitrum as addresses } from "../contracts.json"
import { sign } from "crypto"
import { min } from "bn.js"

enum Direction {
ABOVE = 0,
Expand Down Expand Up @@ -672,7 +670,9 @@ describe("UniswapV3RangeOrderReactor", () => {
it("Reverts when trying to fulfill a range order that is partially filled", async () => {
const reactorDelta = Number(fromWei(await liquidityPoolDummy.getDelta()))
let poolInfo = await getPoolInfo(uniswapUSDCWETHPool)
const balancesBefore = await uniswapV3RangeOrderReactor.getUnderlyingBalances()
// transfer usdc to reactor to test it's not removed
await usdcContract.connect(signers[1]).transfer(uniswapV3RangeOrderReactor.address, toUSDC("100"))
const usdcBalance = await usdcContract.balanceOf(uniswapV3RangeOrderReactor.address)
const weth_usdc_price_before = poolInfo.token1Price.toFixed()
const amountToSwap = toUSDC("6000000")
await usdcContract.connect(signers[1]).approve(uniswapRouter.address, amountToSwap)
Expand Down Expand Up @@ -700,13 +700,16 @@ describe("UniswapV3RangeOrderReactor", () => {
const reactorDeltaAfter = Number(fromWei(await liquidityPoolDummy.getDelta()))

const fulfillAttempt = uniswapV3RangeOrderReactor.fulfillActiveRangeOrder()
const usdcBalanceAfter = await usdcContract.balanceOf(uniswapV3RangeOrderReactor.address)
expect(fulfillAttempt).to.be.revertedWithCustomError(
uniswapV3RangeOrderReactor,
"RangeOrderNotFilled"
)
expect(tick).to.be.gt(activeLowerTick)
expect(tickAfter).to.be.lt(activeUpperTick)
expect(reactorDeltaAfter).to.be.lt(reactorDelta)
// no collateral should be transfered when a fulfill fails
expect(usdcBalanceAfter).to.be.eq(usdcBalance)
})

it("Allows for rehedging after range order is partially filled", async () => {
Expand All @@ -722,7 +725,6 @@ describe("UniswapV3RangeOrderReactor", () => {
it("It fulfills when rehedge moves through range", async () => {
const reactorDelta = Number(fromWei(await liquidityPoolDummy.getDelta()))
let poolInfo = await getPoolInfo(uniswapUSDCWETHPool)
const balancesBefore = await uniswapV3RangeOrderReactor.getUnderlyingBalances()
const weth_usdc_price_before = poolInfo.token1Price.toFixed()
const amountToSwap = toUSDC("10000000")
await usdcContract.connect(signers[1]).approve(uniswapRouter.address, amountToSwap)
Expand All @@ -747,9 +749,13 @@ describe("UniswapV3RangeOrderReactor", () => {
const { tick: tickAfter } = await uniswapUSDCWETHPool.slot0()
const { activeLowerTick, activeUpperTick } = await uniswapV3RangeOrderReactor.currentPosition()
const balances = await uniswapV3RangeOrderReactor.getUnderlyingBalances()
const usdcBalanceBefore = balances.amount0Current
const reactorDeltaAfter = Number(fromWei(await liquidityPoolDummy.getDelta()))
const LpUsdcBalanceBefore = await usdcContract.balanceOf(liquidityPoolDummy.address)

const fulfillAttempt = await uniswapV3RangeOrderReactor.fulfillActiveRangeOrder()
const balancesAfer = await uniswapV3RangeOrderReactor.getUnderlyingBalances()
const usdcBalanceAfter = balancesAfer.amount0Current
const receipt = await fulfillAttempt.wait()
const [collectEvent] = getMatchingEvents(receipt, UNISWAP_POOL_COLLECT)
const { activeLowerTick: activeLowerAfter, activeUpperTick: activeUpperAfter } =
Expand All @@ -759,18 +765,26 @@ describe("UniswapV3RangeOrderReactor", () => {
// USDC amount
const amountOut = Number(fromUSDC(collectEvent.amount0))
const fillPrice = amountOut / 0.3
const LpUsdcBalanceAfter = await usdcContract.balanceOf(liquidityPoolDummy.address)
const lpUsdcBalanceAfterExpectation = LpUsdcBalanceBefore.add(usdcBalanceBefore)
// Amount of delta hedged
expect(deltaDifference).to.eq(0.3)
expect(fillPrice).to.be.gt(average)
expect(tickAfter).to.be.lt(activeLowerTick)
expect(activeLowerAfter).to.be.eq(0)
expect(activeUpperAfter).to.be.eq(0)
// collateral should be transfered when a fulfill succeeds
expect(usdcBalanceAfter).to.be.lt(usdcBalanceBefore)
expect(LpUsdcBalanceAfter).to.be.eq(lpUsdcBalanceAfterExpectation)
})

it("withdraws partial excess USDC to liquidity pool", async () => {
const withdrawAmount = toUSDC("1000")
await usdcContract
.connect(signers[1])
.transfer(uniswapV3RangeOrderReactor.address, withdrawAmount)
const usdcBalance = await usdcContract.balanceOf(uniswapV3RangeOrderReactor.address)
const usdcBalanceLp = await usdcContract.balanceOf(liquidityPoolDummy.address)
const withdrawAmount = toUSDC("1000")
const withdrawTx = await liquidityPoolDummy.withdraw(withdrawAmount)
const receipt = await withdrawTx.wait()
const usdcBalanceAfter = await usdcContract.balanceOf(uniswapV3RangeOrderReactor.address)
Expand All @@ -780,6 +794,8 @@ describe("UniswapV3RangeOrderReactor", () => {
})

it("Allows the guardian to recover an erc20 token directly", async () => {
const initAmount = toUSDC("1000")
await usdcContract.connect(signers[1]).transfer(uniswapV3RangeOrderReactor.address, initAmount)
const usdcBalance = await usdcContract.balanceOf(uniswapV3RangeOrderReactor.address)
// ensure there is a balance to recover for the test to be valid
expect(usdcBalance).to.be.gt(0)
Expand Down
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