const { BN, constants, expectEvent, expectRevert } = require('@openzeppelin/test-helpers'); const { expect } = require('chai'); const ERC20Decimals = artifacts.require('$ERC20DecimalsMock'); const ERC4626 = artifacts.require('$ERC4626'); const ERC4626Decimals = artifacts.require('$ERC4626DecimalsMock'); const parseToken = token => new BN(token).mul(new BN('1000000000000')); const parseShare = share => new BN(share).mul(new BN('1000000000000000000')); contract('ERC4626', function (accounts) { const [holder, recipient, spender, other, user1, user2] = accounts; const name = 'My Token'; const symbol = 'MTKN'; beforeEach(async function () { this.token = await ERC20Decimals.new(name, symbol, 12); this.vault = await ERC4626Decimals.new(name + ' Vault', symbol + 'V', this.token.address, 18); await this.token.$_mint(holder, web3.utils.toWei('100')); await this.token.approve(this.vault.address, constants.MAX_UINT256, { from: holder }); await this.vault.approve(spender, constants.MAX_UINT256, { from: holder }); }); it('metadata', async function () { expect(await this.vault.name()).to.be.equal(name + ' Vault'); expect(await this.vault.symbol()).to.be.equal(symbol + 'V'); expect(await this.vault.decimals()).to.be.bignumber.equal('18'); expect(await this.vault.asset()).to.be.equal(this.token.address); }); it('inherit decimals if from asset', async function () { for (const decimals of [0, 9, 12, 18, 36].map(web3.utils.toBN)) { const token = await ERC20Decimals.new('', '', decimals); const vault = await ERC4626.new('', '', token.address); expect(await vault.decimals()).to.be.bignumber.equal(decimals); } }); describe('empty vault: no assets & no shares', function () { it('status', async function () { expect(await this.vault.totalAssets()).to.be.bignumber.equal('0'); }); it('deposit', async function () { expect(await this.vault.maxDeposit(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewDeposit(parseToken(1))).to.be.bignumber.equal(parseShare(1)); const { tx } = await this.vault.deposit(parseToken(1), recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); }); it('mint', async function () { expect(await this.vault.maxMint(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewMint(parseShare(1))).to.be.bignumber.equal(parseToken(1)); const { tx } = await this.vault.mint(parseShare(1), recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); }); it('withdraw', async function () { expect(await this.vault.maxWithdraw(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewWithdraw('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.withdraw('0', recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); }); it('redeem', async function () { expect(await this.vault.maxRedeem(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewRedeem('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.redeem('0', recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); }); }); describe('partially empty vault: assets & no shares', function () { beforeEach(async function () { await this.token.$_mint(this.vault.address, parseToken(1)); // 1 token }); it('status', async function () { expect(await this.vault.totalAssets()).to.be.bignumber.equal(parseToken(1)); }); it('deposit', async function () { expect(await this.vault.maxDeposit(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewDeposit(parseToken(1))).to.be.bignumber.equal(parseShare(1)); const { tx } = await this.vault.deposit(parseToken(1), recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); }); it('mint', async function () { expect(await this.vault.maxMint(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewMint(parseShare(1))).to.be.bignumber.equal(parseToken(1)); const { tx } = await this.vault.mint(parseShare(1), recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); }); it('withdraw', async function () { expect(await this.vault.maxWithdraw(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewWithdraw('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.withdraw('0', recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); }); it('redeem', async function () { expect(await this.vault.maxRedeem(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewRedeem('0')).to.be.bignumber.equal('0'); const { tx } = await this.vault.redeem('0', recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); }); }); describe('partially empty vault: shares & no assets', function () { beforeEach(async function () { await this.vault.$_mint(holder, parseShare(1)); // 1 share }); it('status', async function () { expect(await this.vault.totalAssets()).to.be.bignumber.equal('0'); }); it('deposit', async function () { expect(await this.vault.maxDeposit(holder)).to.be.bignumber.equal('0'); // Can deposit 0 (max deposit) const { tx } = await this.vault.deposit(0, recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: 0, }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: 0, }); // Cannot deposit more than 0 await expectRevert.unspecified(this.vault.previewDeposit(parseToken(1))); await expectRevert( this.vault.deposit(parseToken(1), recipient, { from: holder }), 'ERC4626: deposit more than max', ); }); it('mint', async function () { expect(await this.vault.maxMint(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewMint(parseShare(1))).to.be.bignumber.equal('0'); const { tx } = await this.vault.mint(parseShare(1), recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: '0', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); }); it('withdraw', async function () { expect(await this.vault.maxWithdraw(holder)).to.be.bignumber.equal('0'); expect(await this.vault.previewWithdraw('0')).to.be.bignumber.equal('0'); await expectRevert.unspecified(this.vault.previewWithdraw('1')); const { tx } = await this.vault.withdraw('0', recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: '0', }); }); it('redeem', async function () { expect(await this.vault.maxRedeem(holder)).to.be.bignumber.equal(parseShare(1)); expect(await this.vault.previewRedeem(parseShare(1))).to.be.bignumber.equal('0'); const { tx } = await this.vault.redeem(parseShare(1), recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: '0', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: parseShare(1), }); }); }); describe('full vault: assets & shares', function () { beforeEach(async function () { await this.token.$_mint(this.vault.address, parseToken(1)); // 1 tokens await this.vault.$_mint(holder, parseShare(100)); // 100 share }); it('status', async function () { expect(await this.vault.totalAssets()).to.be.bignumber.equal(parseToken(1)); }); it('deposit', async function () { expect(await this.vault.maxDeposit(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewDeposit(parseToken(1))).to.be.bignumber.equal(parseShare(100)); const { tx } = await this.vault.deposit(parseToken(1), recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(100), }); }); it('mint', async function () { expect(await this.vault.maxMint(holder)).to.be.bignumber.equal(constants.MAX_UINT256); expect(await this.vault.previewMint(parseShare(1))).to.be.bignumber.equal(parseToken(1).divn(100)); const { tx } = await this.vault.mint(parseShare(1), recipient, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: holder, to: this.vault.address, value: parseToken(1).divn(100), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: recipient, value: parseShare(1), }); }); it('withdraw', async function () { expect(await this.vault.maxWithdraw(holder)).to.be.bignumber.equal(parseToken(1)); expect(await this.vault.previewWithdraw(parseToken(1))).to.be.bignumber.equal(parseShare(100)); const { tx } = await this.vault.withdraw(parseToken(1), recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: parseToken(1), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: parseShare(100), }); }); it('withdraw with approval', async function () { await expectRevert( this.vault.withdraw(parseToken(1), recipient, holder, { from: other }), 'ERC20: insufficient allowance', ); await this.vault.withdraw(parseToken(1), recipient, holder, { from: spender }); }); it('redeem', async function () { expect(await this.vault.maxRedeem(holder)).to.be.bignumber.equal(parseShare(100)); expect(await this.vault.previewRedeem(parseShare(100))).to.be.bignumber.equal(parseToken(1)); const { tx } = await this.vault.redeem(parseShare(100), recipient, holder, { from: holder }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: recipient, value: parseToken(1), }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: holder, to: constants.ZERO_ADDRESS, value: parseShare(100), }); }); it('redeem with approval', async function () { await expectRevert( this.vault.redeem(parseShare(100), recipient, holder, { from: other }), 'ERC20: insufficient allowance', ); await this.vault.redeem(parseShare(100), recipient, holder, { from: spender }); }); }); /// Scenario inspired by solmate ERC4626 tests: /// https://github.com/transmissions11/solmate/blob/main/src/test/ERC4626.t.sol it('multiple mint, deposit, redeem & withdrawal', async function () { // test designed with both asset using similar decimals this.token = await ERC20Decimals.new(name, symbol, 18); this.vault = await ERC4626.new(name + ' Vault', symbol + 'V', this.token.address); await this.token.$_mint(user1, 4000); await this.token.$_mint(user2, 7001); await this.token.approve(this.vault.address, 4000, { from: user1 }); await this.token.approve(this.vault.address, 7001, { from: user2 }); // 1. Alice mints 2000 shares (costs 2000 tokens) { const { tx } = await this.vault.mint(2000, user1, { from: user1 }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user1, to: this.vault.address, value: '2000', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user1, value: '2000', }); expect(await this.vault.previewDeposit(2000)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('2000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('0'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('2000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('2000'); } // 2. Bob deposits 4000 tokens (mints 4000 shares) { const { tx } = await this.vault.mint(4000, user2, { from: user2 }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user2, to: this.vault.address, value: '4000', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user2, value: '4000', }); expect(await this.vault.previewDeposit(4000)).to.be.bignumber.equal('4000'); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('2000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('4000'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('6000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('6000'); } // 3. Vault mutates by +3000 tokens (simulated yield returned from strategy) await this.token.$_mint(this.vault.address, 3000); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('3000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('6000'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('6000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('9000'); // 4. Alice deposits 2000 tokens (mints 1333 shares) { const { tx } = await this.vault.deposit(2000, user1, { from: user1 }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user1, to: this.vault.address, value: '2000', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user1, value: '1333', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('3333'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('4999'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('6000'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('7333'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('11000'); } // 5. Bob mints 2000 shares (costs 3001 assets) // NOTE: Bob's assets spent got rounded up // NOTE: Alices's vault assets got rounded up { const { tx } = await this.vault.mint(2000, user2, { from: user2 }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: user2, to: this.vault.address, value: '3001', }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: constants.ZERO_ADDRESS, to: user2, value: '2000', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('3333'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('6000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('5000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('9000'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('9333'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('14001'); } // 6. Vault mutates by +3000 tokens // NOTE: Vault holds 17001 tokens, but sum of assetsOf() is 17000. await this.token.$_mint(this.vault.address, 3000); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('3333'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('6000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('6071'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('10929'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('9333'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('17001'); // 7. Alice redeem 1333 shares (2428 assets) { const { tx } = await this.vault.redeem(1333, user1, user1, { from: user1 }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user1, to: constants.ZERO_ADDRESS, value: '1333', }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user1, value: '2428', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('6000'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('3643'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('10929'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('8000'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('14573'); } // 8. Bob withdraws 2929 assets (1608 shares) { const { tx } = await this.vault.withdraw(2929, user2, user2, { from: user2 }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user2, to: constants.ZERO_ADDRESS, value: '1608', }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user2, value: '2929', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('2000'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4392'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('3643'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('8000'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('6392'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('11644'); } // 9. Alice withdraws 3643 assets (2000 shares) // NOTE: Bob's assets have been rounded back up { const { tx } = await this.vault.withdraw(3643, user1, user1, { from: user1 }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user1, to: constants.ZERO_ADDRESS, value: '2000', }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user1, value: '3643', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('0'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('4392'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('8001'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('4392'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('8001'); } // 10. Bob redeem 4392 shares (8001 tokens) { const { tx } = await this.vault.redeem(4392, user2, user2, { from: user2 }); expectEvent.inTransaction(tx, this.vault, 'Transfer', { from: user2, to: constants.ZERO_ADDRESS, value: '4392', }); expectEvent.inTransaction(tx, this.token, 'Transfer', { from: this.vault.address, to: user2, value: '8001', }); expect(await this.vault.balanceOf(user1)).to.be.bignumber.equal('0'); expect(await this.vault.balanceOf(user2)).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user1))).to.be.bignumber.equal('0'); expect(await this.vault.convertToAssets(await this.vault.balanceOf(user2))).to.be.bignumber.equal('0'); expect(await this.vault.totalSupply()).to.be.bignumber.equal('0'); expect(await this.vault.totalAssets()).to.be.bignumber.equal('0'); } }); });