Merge pull request #278 from morpho-org/refactor/rewards-skim

refactor(metamorpho): rename rewards to skim

.github/workflows/foundry.yml

@@ -63,7 +63,7 @@ jobs:
         type: ["slow", "fast"]
         include:
           - type: "slow"
-            fuzz-runs: 32768
+            fuzz-runs: 8192
             max-test-rejects: 1048576
             invariant-runs: 64
             invariant-depth: 1024

README.md

@@ -24,7 +24,7 @@ The vault owner can set a performance fee, cutting up to 50% of the generated in
 The `feeRecipient` can then withdraw the accumulated fee at any time.
 
 The vault may be entitled to some rewards emitted on Morpho Blue markets the vault has supplied to.
-Those rewards can be transferred to the `rewardsRecipient`.
+Those rewards can be transferred to the `skimRecipient`.
 The vault's owner has the choice to distribute back these rewards to vault depositors however they want.
 For more information about this use case, see the [Rewards](#rewards) section.
 
@@ -100,14 +100,14 @@ Below is a typical example of how this use case would take place:
 - If not already done:
 
   - Create a rewards distributor using the [UrdFactory](https://github.com/morpho-org/universal-rewards-distributor/blob/main/src/UrdFactory.sol) (can be done by anyone).
-  - Set the vault’s rewards recipient address to the created URD using `setRewardsRecipient`.
+  - Set the vault’s rewards recipient address to the created URD using `setSkimRecipient`.
 
 - Claim tokens from the Morpho Blue distribution to the vault.
 
   NB: Anyone can claim tokens on behalf of the vault and automatically transfer them to the vault.
   Thus, this step might be already performed by some third-party.
 
-- Transfer rewards from the vault to the rewards distributor using the `transferRewards` function.
+- Transfer rewards from the vault to the rewards distributor using the `skim` function.
 
   NB: Anyone can transfer rewards from the vault to the rewards distributor unless it is unset.
   Thus, this step might be already performed by some third-party.

src/MetaMorpho.sol

@@ -83,8 +83,8 @@ contract MetaMorpho is ERC4626, ERC20Permit, Ownable2Step, Multicall, IMetaMorph
     /// @notice The fee recipient.
     address public feeRecipient;
 
-    /// @notice The rewards recipient.
-    address public rewardsRecipient;
+    /// @notice The skim recipient.
+    address public skimRecipient;
 
     /// @dev Stores the order of markets on which liquidity is supplied upon deposit.
     /// @dev Can contain any market. A market is skipped as soon as its supply cap is reached.
@@ -197,13 +197,13 @@ contract MetaMorpho is ERC4626, ERC20Permit, Ownable2Step, Multicall, IMetaMorph
         emit EventsLib.SetIsAllocator(newAllocator, newIsAllocator);
     }
 
-    /// @notice Sets `rewardsRecipient` to `newRewardsRecipient`.
-    function setRewardsRecipient(address newRewardsRecipient) external onlyOwner {
-        if (newRewardsRecipient == rewardsRecipient) revert ErrorsLib.AlreadySet();
+    /// @notice Sets `skimRecipient` to `newSkimRecipient`.
+    function setSkimRecipient(address newSkimRecipient) external onlyOwner {
+        if (newSkimRecipient == skimRecipient) revert ErrorsLib.AlreadySet();
 
-        rewardsRecipient = newRewardsRecipient;
+        skimRecipient = newSkimRecipient;
 
-        emit EventsLib.SetRewardsRecipient(newRewardsRecipient);
+        emit EventsLib.SetSkimRecipient(newSkimRecipient);
     }
 
     /// @notice Submits a `newTimelock`.
@@ -515,17 +515,16 @@ contract MetaMorpho is ERC4626, ERC20Permit, Ownable2Step, Multicall, IMetaMorph
         _setCap(id, uint184(pendingCap[id].value));
     }
 
-    /// @notice Transfers `token` rewards collected by the vault to the `rewardsRecipient`.
-    /// @dev Can be used to extract any token that would be stuck on the contract as well.
-    function transferRewards(address token) external {
-        if (rewardsRecipient == address(0)) revert ErrorsLib.ZeroAddress();
+    /// @notice Skims the vault `token` balance to `skimRecipient`.
+    function skim(address token) external {
+        if (skimRecipient == address(0)) revert ErrorsLib.ZeroAddress();
 
         uint256 amount = IERC20(token).balanceOf(address(this));
         if (token == asset()) amount -= idle;
 
-        IERC20(token).safeTransfer(rewardsRecipient, amount);
+        IERC20(token).safeTransfer(skimRecipient, amount);
 
-        emit EventsLib.TransferRewards(_msgSender(), token, amount);
+        emit EventsLib.Skim(_msgSender(), token, amount);
     }
 
     /* ERC4626 (PUBLIC) */

src/interfaces/IMetaMorpho.sol

@@ -38,7 +38,7 @@ interface IMetaMorphoBase {
 
     function fee() external view returns (uint96);
     function feeRecipient() external view returns (address);
-    function rewardsRecipient() external view returns (address);
+    function skimRecipient() external view returns (address);
     function timelock() external view returns (uint256);
     function supplyQueue(uint256) external view returns (Id);
     function supplyQueueLength() external view returns (uint256);
@@ -63,13 +63,13 @@ interface IMetaMorphoBase {
     function acceptGuardian() external;
     function revokePendingGuardian() external;
 
-    function transferRewards(address) external;
+    function skim(address) external;
 
     function setIsAllocator(address newAllocator, bool newIsAllocator) external;
     function setCurator(address newCurator) external;
     function setFee(uint256 newFee) external;
     function setFeeRecipient(address newFeeRecipient) external;
-    function setRewardsRecipient(address) external;
+    function setSkimRecipient(address) external;
 
     function setSupplyQueue(Id[] calldata newSupplyQueue) external;
     function updateWithdrawQueue(uint256[] calldata indexes) external;

src/libraries/EventsLib.sol

@@ -16,8 +16,8 @@ library EventsLib {
     /// @notice Emitted `timelock` is set to `newTimelock`.
     event SetTimelock(address indexed caller, uint256 newTimelock);
 
-    /// @notice Emitted `rewardsDistibutor` is set to `newRewardsRecipient`.
-    event SetRewardsRecipient(address indexed newRewardsRecipient);
+    /// @notice Emitted when `skimRecipient` is set to `newSkimRecipient`.
+    event SetSkimRecipient(address indexed newSkimRecipient);
 
     /// @notice Emitted `fee` is set to `newFee`.
     event SetFee(address indexed caller, uint256 newFee);
@@ -85,8 +85,8 @@ library EventsLib {
     /// @notice Emitted when fees are accrued.
     event AccrueFee(uint256 feeShares);
 
-    /// @notice Emitted when an `amount` of `token` is transferred to the `rewardsRecipient` by `caller`.
-    event TransferRewards(address indexed caller, address indexed token, uint256 amount);
+    /// @notice Emitted when an `amount` of `token` is transferred to the skim recipient by `caller`.
+    event Skim(address indexed caller, address indexed token, uint256 amount);
 
     /// @notice Emitted when a new MetaMorpho vault is created.
     /// @param metaMorpho The address of the MetaMorpho vault.

test/forge/ERC4626A16zTest.sol → test/forge/ERC4626ComplianceTest.sol

@@ -5,7 +5,7 @@ import "erc4626-tests/ERC4626.test.sol";
 
 import {IntegrationTest} from "./helpers/IntegrationTest.sol";
 
-contract ERC4626A16zTest is IntegrationTest, ERC4626Test {
+contract ERC4626ComplianceTest is IntegrationTest, ERC4626Test {
     function setUp() public override(IntegrationTest, ERC4626Test) {
         super.setUp();
 
@@ -14,5 +14,7 @@ contract ERC4626A16zTest is IntegrationTest, ERC4626Test {
         _delta_ = 0;
         _vaultMayBeEmpty = true;
         _unlimitedAmount = true;
+
+        _setCap(allMarkets[0], 1e28);
     }
 }

test/forge/UrdTest.sol

@@ -21,41 +21,41 @@ contract UrdTest is IntegrationTest {
         rewardsDistributor = urdFactory.createUrd(OWNER, 0, bytes32(0), bytes32(0), bytes32(0));
     }
 
-    function testSetRewardsRecipient(address newRewardsRecipient) public {
-        vm.assume(newRewardsRecipient != vault.rewardsRecipient());
+    function testSetSkimRecipient(address newSkimRecipient) public {
+        vm.assume(newSkimRecipient != vault.skimRecipient());
 
         vm.expectEmit();
-        emit EventsLib.SetRewardsRecipient(newRewardsRecipient);
+        emit EventsLib.SetSkimRecipient(newSkimRecipient);
         vm.prank(OWNER);
-        vault.setRewardsRecipient(newRewardsRecipient);
+        vault.setSkimRecipient(newSkimRecipient);
 
-        assertEq(vault.rewardsRecipient(), newRewardsRecipient);
+        assertEq(vault.skimRecipient(), newSkimRecipient);
     }
 
-    function testAlreadySetRewardsRecipient() public {
-        address currentRewardsRecipient = vault.rewardsRecipient();
+    function testAlreadySetSkimRecipient() public {
+        address currentSkimRecipient = vault.skimRecipient();
 
         vm.prank(OWNER);
         vm.expectRevert(ErrorsLib.AlreadySet.selector);
-        vault.setRewardsRecipient(currentRewardsRecipient);
+        vault.setSkimRecipient(currentSkimRecipient);
     }
 
-    function testSetRewardsRecipientNotOwner() public {
+    function testSetSkimRecipientNotOwner() public {
         vm.expectRevert(abi.encodeWithSelector(Ownable.OwnableUnauthorizedAccount.selector, address(this)));
-        vault.setRewardsRecipient(address(0));
+        vault.setSkimRecipient(address(0));
     }
 
-    function testTransferRewardsNotLoanToken(uint256 amount) public {
+    function testSkimNotLoanToken(uint256 amount) public {
         vm.prank(OWNER);
-        vault.setRewardsRecipient(address(rewardsDistributor));
+        vault.setSkimRecipient(address(rewardsDistributor));
 
         collateralToken.setBalance(address(vault), amount);
         uint256 vaultBalanceBefore = collateralToken.balanceOf(address(vault));
         assertEq(vaultBalanceBefore, amount, "vaultBalanceBefore");
 
         vm.expectEmit(address(vault));
-        emit EventsLib.TransferRewards(address(this), address(collateralToken), amount);
-        vault.transferRewards(address(collateralToken));
+        emit EventsLib.Skim(address(this), address(collateralToken), amount);
+        vault.skim(address(collateralToken));
         uint256 vaultBalanceAfter = collateralToken.balanceOf(address(vault));
 
         assertEq(vaultBalanceAfter, 0, "vaultBalanceAfter");
@@ -66,12 +66,12 @@ contract UrdTest is IntegrationTest {
         );
     }
 
-    function testTransferRewardsLoanToken(uint256 rewards, uint256 idle) public {
+    function testSkimLoanToken(uint256 rewards, uint256 idle) public {
         idle = bound(idle, 0, MAX_TEST_ASSETS);
         rewards = bound(rewards, 0, MAX_TEST_ASSETS);
 
         vm.prank(OWNER);
-        vault.setRewardsRecipient(address(rewardsDistributor));
+        vault.setSkimRecipient(address(rewardsDistributor));
 
         loanToken.setBalance(address(vault), rewards);
 
@@ -84,8 +84,8 @@ contract UrdTest is IntegrationTest {
         assertEq(vaultBalanceBefore, idle + rewards, "vaultBalanceBefore");
 
         vm.expectEmit(address(vault));
-        emit EventsLib.TransferRewards(address(this), address(loanToken), rewards);
-        vault.transferRewards(address(loanToken));
+        emit EventsLib.Skim(address(this), address(loanToken), rewards);
+        vault.skim(address(loanToken));
         uint256 vaultBalanceAfter = loanToken.balanceOf(address(vault));
 
         assertEq(vaultBalanceAfter, idle, "vaultBalanceAfter");
@@ -96,8 +96,8 @@ contract UrdTest is IntegrationTest {
         );
     }
 
-    function testTransferRewardsZeroAddress() public {
+    function testSkimZeroAddress() public {
         vm.expectRevert(ErrorsLib.ZeroAddress.selector);
-        vault.transferRewards(address(loanToken));
+        vault.skim(address(loanToken));
     }
 }