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fix(rebalancer): forward liquidator rewards to the msg.sender (#633)
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* fix(rebalancer): forward liquidator rewards to the msg.sender

* fix: use safeTransfer instead of the simple transfer function
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@KirienzoEth
KirienzoEth authored Oct 22, 2024
1 parent 4d6d383 commit 7e28eeb
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Showing 3 changed files with 101 additions and 20 deletions.
8 changes: 8 additions & 0 deletions src/Rebalancer/Rebalancer.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -469,6 +469,7 @@ contract Rebalancer is Ownable2Step, ReentrancyGuard, ERC165, IOwnershipCallback
+ data.amountToCloseWithoutBonus * (data.protocolPosition.amount - data.currentPositionData.amount)
/ data.currentPositionData.amount;

uint256 balanceOfAssetBefore = _asset.balanceOf(address(this));
// slither-disable-next-line reentrancy-eth
success_ = _usdnProtocol.initiateClosePosition{ value: msg.value }(
Types.PositionId({
Expand All @@ -485,6 +486,7 @@ contract Rebalancer is Ownable2Step, ReentrancyGuard, ERC165, IOwnershipCallback
previousActionsData,
""
);
uint256 balanceOfAssetAfter = _asset.balanceOf(address(this));

if (success_) {
if (data.remainingAssets == 0) {
Expand All @@ -507,6 +509,12 @@ contract Rebalancer is Ownable2Step, ReentrancyGuard, ERC165, IOwnershipCallback
emit ClosePositionInitiated(msg.sender, amount, data.amountToClose, data.remainingAssets);
}

// If the rebalancer received assets, it means it was rewarded for liquidating positions
// So we need to forward those rewards to the msg.sender
if (balanceOfAssetAfter > balanceOfAssetBefore) {
_asset.safeTransfer(msg.sender, balanceOfAssetAfter - balanceOfAssetBefore);
}

// sent back any ether left in the contract
_refundEther();
}
Expand Down
106 changes: 89 additions & 17 deletions test/integration/UsdnProtocol/RebalancerInitiateClosePosition.t.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -31,6 +31,7 @@ contract TestRebalancerInitiateClosePosition is
PositionId internal prevPosId;
Position internal protocolPosition;
uint128 internal wstEthPrice;
uint128 internal securityDeposit;

function setUp() public {
(, amountInRebalancer,,) = _setUpImbalanced(15 ether);
Expand All @@ -39,15 +40,7 @@ contract TestRebalancerInitiateClosePosition is
rebalancer.setPositionMaxLeverage(maxLeverage);
skip(5 minutes);

{
wstEthPrice = 1490 ether;
uint128 ethPrice = uint128(wstETH.getWstETHByStETH(wstEthPrice)) / 1e10;
mockPyth.setPrice(int64(uint64(ethPrice)));
mockPyth.setLastPublishTime(block.timestamp);
wstEthPrice = uint128(wstETH.getStETHByWstETH(ethPrice * 1e10));
mockChainlinkOnChain.setLastPublishTime(block.timestamp);
mockChainlinkOnChain.setLastPrice(int256(uint256(ethPrice)));
}
wstEthPrice = _setOraclePrices(1490 ether);

uint256 oracleFee = oracleMiddleware.validationCost(MOCK_PYTH_DATA, ProtocolAction.Liquidation);
protocol.liquidate{ value: oracleFee }(MOCK_PYTH_DATA);
Expand All @@ -60,6 +53,7 @@ contract TestRebalancerInitiateClosePosition is
index: previousPositionData.index
});
(protocolPosition,) = protocol.getLongPosition(prevPosId);
securityDeposit = protocol.getSecurityDepositValue();
}

function test_setUp() public view {
Expand All @@ -74,9 +68,8 @@ contract TestRebalancerInitiateClosePosition is
* @custom:then The call reverts because of the imbalance
*/
function test_rebalancerNoWithdrawalAfterRebalancerTrigger() public {
uint256 securityDepositValue = protocol.getSecurityDepositValue();
vm.expectPartialRevert(UsdnProtocolImbalanceLimitReached.selector);
rebalancer.initiateClosePosition{ value: securityDepositValue }(
rebalancer.initiateClosePosition{ value: securityDeposit }(
amountInRebalancer, address(this), DISABLE_MIN_PRICE, type(uint256).max, "", EMPTY_PREVIOUS_DATA
);
}
Expand Down Expand Up @@ -110,7 +103,7 @@ contract TestRebalancerInitiateClosePosition is

vm.expectEmit();
emit ClosePositionInitiated(address(this), amount, amountToClose, amountInRebalancer - amount);
(bool success) = rebalancer.initiateClosePosition{ value: protocol.getSecurityDepositValue() }(
(bool success) = rebalancer.initiateClosePosition{ value: securityDeposit }(
amount, address(this), DISABLE_MIN_PRICE, type(uint256).max, "", EMPTY_PREVIOUS_DATA
);

Expand Down Expand Up @@ -151,7 +144,6 @@ contract TestRebalancerInitiateClosePosition is
function test_RevertWhen_rebalancerInitiateClosePositionPartialTriggerImbalanceLimit() public {
// choose an amount big enough to trigger imbalance limits
uint88 amount = amountInRebalancer / 10;
uint256 securityDeposit = protocol.getSecurityDepositValue();

vm.expectPartialRevert(UsdnProtocolImbalanceLimitReached.selector);
rebalancer.initiateClosePosition{ value: securityDeposit }(
Expand Down Expand Up @@ -184,7 +176,7 @@ contract TestRebalancerInitiateClosePosition is

vm.expectEmit();
emit ClosePositionInitiated(address(this), amountInRebalancer, amountToClose, 0);
(bool success) = rebalancer.initiateClosePosition{ value: protocol.getSecurityDepositValue() }(
(bool success) = rebalancer.initiateClosePosition{ value: securityDeposit }(
amountInRebalancer, address(this), DISABLE_MIN_PRICE, type(uint256).max, "", EMPTY_PREVIOUS_DATA
);

Expand All @@ -207,6 +199,89 @@ contract TestRebalancerInitiateClosePosition is
);
}

/**
* @custom:scenario A user closing its position through the rebalancer can also liquidate ticks
* @custom:given A tick can be liquidated in the USDN protocol
* @custom:when The user calls the rebalancer's `initiateClosePosition` function
* @custom:then A ClosePositionInitiated event is emitted
* @custom:and The user depositData is deleted
* @custom:and The position data is updated
* @custom:and The user initiate close position is pending in protocol
* @custom:and The user receives the liquidation rewards
*/
function test_rebalancerInitiateClosePositionLiquidatesAPosition() public {
vm.prank(SET_PROTOCOL_PARAMS_MANAGER);
protocol.setExpoImbalanceLimits(0, 0, 0, 0, 0, 0);

skip(1 hours);
// put the eth price a bit higher to avoid liquidating existing position
wstEthPrice = _setOraclePrices(wstEthPrice * 15 / 10);

// open a position to liquidate during the initiateClose call
(, PositionId memory posId) = protocol.initiateOpenPosition{ value: securityDeposit }(
2 ether,
wstEthPrice * 9 / 10,
type(uint128).max,
protocol.getMaxLeverage(),
payable(address(this)),
payable(address(this)),
type(uint256).max,
"",
EMPTY_PREVIOUS_DATA
);

skip(1 hours);
// put the price below the above position's liquidation price
wstEthPrice = _setOraclePrices(wstEthPrice * 8 / 10);

uint256 amountToCloseWithoutBonus = FixedPointMathLib.fullMulDiv(
amountInRebalancer,
rebalancer.getPositionData(rebalancer.getPositionVersion()).entryAccMultiplier,
rebalancer.getPositionData(rebalancer.getUserDepositData(address(this)).entryPositionVersion)
.entryAccMultiplier
);

uint256 amountToClose = amountToCloseWithoutBonus
+ amountToCloseWithoutBonus * (protocolPosition.amount - previousPositionData.amount)
/ previousPositionData.amount;

uint256 balanceOfRebalancerBefore = wstETH.balanceOf(address(rebalancer));
LiqTickInfo[] memory liqTickInfoArray;

// snapshot and liquidate to get the liquidated ticks data
uint256 snapshotId = vm.snapshot();
liqTickInfoArray = protocol.liquidate{
value: oracleMiddleware.validationCost(MOCK_PYTH_DATA, ProtocolAction.Liquidation)
}(MOCK_PYTH_DATA);
vm.revertTo(snapshotId);

uint256 liquidationRewards = liquidationRewardsManager.getLiquidationRewards(
liqTickInfoArray, wstEthPrice, false, RebalancerAction.None, ProtocolAction.InitiateClosePosition, "", ""
);

vm.expectEmit(false, true, false, false);
emit LiquidatedTick(posId.tick, 0, 0, 0, 0);
vm.expectEmit();
emit ClosePositionInitiated(address(this), amountInRebalancer, amountToClose, 0);
vm.expectEmit();
emit Transfer(address(rebalancer), address(this), liquidationRewards);
(bool success) = rebalancer.initiateClosePosition{ value: securityDeposit }(
amountInRebalancer, address(this), DISABLE_MIN_PRICE, type(uint256).max, "", EMPTY_PREVIOUS_DATA
);

UserDeposit memory depositData = rebalancer.getUserDepositData(address(this));

assertTrue(success, "The rebalancer close should be successful");
assertEq(depositData.amount, 0, "The user's deposited amount in rebalancer should be zero");
assertEq(depositData.entryPositionVersion, 0, "The user's entry position version should be zero");

assertEq(
balanceOfRebalancerBefore,
wstETH.balanceOf(address(rebalancer)),
"The wstETH balance of the rebalancer should not have changed"
);
}

/**
* @custom:scenario The user sends too much ether when closing its position
* @custom:when The user calls the rebalancer's {initiateClosePosition} function with too much ether
Expand All @@ -216,7 +291,6 @@ contract TestRebalancerInitiateClosePosition is
vm.prank(SET_PROTOCOL_PARAMS_MANAGER);
protocol.setExpoImbalanceLimits(0, 0, 0, 0, 0, 0);

uint256 securityDeposit = protocol.getSecurityDepositValue();
uint256 userBalanceBefore = address(this).balance;
uint256 excessAmount = 1 ether;

Expand All @@ -240,7 +314,6 @@ contract TestRebalancerInitiateClosePosition is
* @custom:then It should revert with `RebalancerUserLiquidated` error
*/
function test_RevertWhen_rebalancerUserLiquidated() public {
uint256 securityDeposit = protocol.getSecurityDepositValue();
// compensate imbalance to allow rebalancer users to close
(, PositionId memory newPosId) = protocol.initiateOpenPosition{ value: securityDeposit }(
10 ether,
Expand Down Expand Up @@ -355,7 +428,6 @@ contract TestRebalancerInitiateClosePosition is

// deposit assets in the protocol to imbalance it
uint256 oracleFee = oracleMiddleware.validationCost(MOCK_PYTH_DATA, ProtocolAction.ValidateDeposit);
uint256 securityDeposit = protocol.getSecurityDepositValue();
protocol.initiateDeposit{ value: securityDeposit }(
100 ether,
DISABLE_SHARES_OUT_MIN,
Expand Down
7 changes: 4 additions & 3 deletions test/integration/UsdnProtocol/utils/Fixtures.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -27,6 +27,7 @@ import {
WSTETH
} from "../../../utils/Constants.sol";
import { BaseFixture } from "../../../utils/Fixtures.sol";
import { IEventsErrors } from "../../../utils/IEventsErrors.sol";
import { IUsdnProtocolHandler } from "../../../utils/IUsdnProtocolHandler.sol";
import { Sdex } from "../../../utils/Sdex.sol";
import { WstETH } from "../../../utils/WstEth.sol";
Expand All @@ -47,7 +48,7 @@ import { IUsdnProtocolErrors } from "../../../../src/interfaces/UsdnProtocol/IUs
import { IUsdnProtocolEvents } from "../../../../src/interfaces/UsdnProtocol/IUsdnProtocolEvents.sol";
import { HugeUint } from "../../../../src/libraries/HugeUint.sol";

contract UsdnProtocolBaseIntegrationFixture is BaseFixture, IUsdnProtocolErrors, IUsdnProtocolEvents {
contract UsdnProtocolBaseIntegrationFixture is BaseFixture, IUsdnProtocolErrors, IUsdnProtocolEvents, IEventsErrors {
struct SetUpParams {
uint128 initialDeposit;
uint128 initialLong;
Expand Down Expand Up @@ -350,11 +351,11 @@ contract UsdnProtocolBaseIntegrationFixture is BaseFixture, IUsdnProtocolErrors,
}

/// @dev Set the provided price and current timestamp in all of the mock oracles
function _setOraclePrices(uint128 wstEthPrice) internal {
function _setOraclePrices(uint128 wstEthPrice) internal returns (uint128 wstEthPrice_) {
uint128 ethPrice = uint128(wstETH.getWstETHByStETH(wstEthPrice)) / 1e10;
mockPyth.setPrice(int64(uint64(ethPrice)));
mockPyth.setLastPublishTime(block.timestamp);
wstEthPrice = uint128(wstETH.getStETHByWstETH(ethPrice * 1e10));
wstEthPrice_ = uint128(wstETH.getStETHByWstETH(ethPrice * 1e10));
mockChainlinkOnChain.setLastPublishTime(block.timestamp);
mockChainlinkOnChain.setLastPrice(int256(uint256(ethPrice)));
}
Expand Down

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