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fix(reallocate): prevent slippage #298

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Nov 14, 2023
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fix(reallocate): prevent slippage #298

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07e00ba
fix(reallocate): prevent slippage
Rubilmax Nov 2, 2023
9c66465
Merge branch 'cantina-review' of github.com:morpho-org/metamorpho int…
Rubilmax Nov 7, 2023
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14 changes: 9 additions & 5 deletions src/MetaMorpho.sol
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Expand Up @@ -357,11 +357,15 @@ contract MetaMorpho is ERC4626, ERC20Permit, Ownable2Step, Multicall, IMetaMorph
if (allocation.marketParams.loanToken != asset()) revert ErrorsLib.InconsistentAsset(id);

// Guarantees that unknown frontrunning donations can be withdrawn, in order to disable a market.
if (allocation.shares == type(uint256).max) allocation.shares = MORPHO.supplyShares(id, address(this));
uint256 shares;
if (allocation.assets == type(uint256).max) {
shares = MORPHO.supplyShares(id, address(this));

(uint256 withdrawnAssets, uint256 withdrawnShares) = MORPHO.withdraw(
allocation.marketParams, allocation.assets, allocation.shares, address(this), address(this)
);
allocation.assets = 0;
}

(uint256 withdrawnAssets, uint256 withdrawnShares) =
MORPHO.withdraw(allocation.marketParams, allocation.assets, shares, address(this), address(this));

totalWithdrawn += withdrawnAssets;

Expand All @@ -377,7 +381,7 @@ contract MetaMorpho is ERC4626, ERC20Permit, Ownable2Step, Multicall, IMetaMorph
if (supplyCap == 0) revert ErrorsLib.UnauthorizedMarket(id);

(uint256 suppliedAssets, uint256 suppliedShares) =
MORPHO.supply(allocation.marketParams, allocation.assets, allocation.shares, address(this), hex"");
MORPHO.supply(allocation.marketParams, allocation.assets, 0, address(this), hex"");

if (_supplyBalance(allocation.marketParams) > supplyCap) {
revert ErrorsLib.SupplyCapExceeded(id);
Expand Down
2 changes: 0 additions & 2 deletions src/interfaces/IMetaMorpho.sol
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Expand Up @@ -31,8 +31,6 @@ struct MarketAllocation {
MarketParams marketParams;
/// @notice The amount of assets to allocate.
uint256 assets;
/// @notice The amount of shares to allocate.
uint256 shares;
Comment on lines -34 to -35
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We should also change the dev comment above the struct @MerlinEgalite

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cc @Rubilmax

}

interface IMetaMorpho is IERC4626 {
Expand Down
37 changes: 24 additions & 13 deletions test/forge/ReallocateIdleTest.sol
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Expand Up @@ -31,26 +31,37 @@ contract ReallocateIdleTest is IntegrationTest {
vault.deposit(INITIAL_DEPOSIT, ONBEHALF);
}

function testReallocateSupplyIdle(uint256[3] memory suppliedShares) public {
suppliedShares[0] = bound(suppliedShares[0], SharesMathLib.VIRTUAL_SHARES, CAP2 * SharesMathLib.VIRTUAL_SHARES);
suppliedShares[1] = bound(suppliedShares[1], SharesMathLib.VIRTUAL_SHARES, CAP2 * SharesMathLib.VIRTUAL_SHARES);
suppliedShares[2] = bound(suppliedShares[2], SharesMathLib.VIRTUAL_SHARES, CAP2 * SharesMathLib.VIRTUAL_SHARES);
function testReallocateSupplyIdle(uint256[3] memory suppliedAssets) public {
suppliedAssets[0] = bound(suppliedAssets[0], 1, CAP2);
suppliedAssets[1] = bound(suppliedAssets[1], 1, CAP2);
suppliedAssets[2] = bound(suppliedAssets[2], 1, CAP2);

supplied.push(MarketAllocation(allMarkets[0], 0, suppliedShares[0]));
supplied.push(MarketAllocation(allMarkets[1], 0, suppliedShares[1]));
supplied.push(MarketAllocation(allMarkets[2], 0, suppliedShares[2]));
supplied.push(MarketAllocation(allMarkets[0], suppliedAssets[0]));
supplied.push(MarketAllocation(allMarkets[1], suppliedAssets[1]));
supplied.push(MarketAllocation(allMarkets[2], suppliedAssets[2]));

uint256 idleBefore = vault.idle();

vm.prank(ALLOCATOR);
vault.reallocate(withdrawn, supplied);

assertEq(morpho.supplyShares(allMarkets[0].id(), address(vault)), suppliedShares[0], "morpho.supplyShares(0)");
assertEq(morpho.supplyShares(allMarkets[1].id(), address(vault)), suppliedShares[1], "morpho.supplyShares(1)");
assertEq(morpho.supplyShares(allMarkets[2].id(), address(vault)), suppliedShares[2], "morpho.supplyShares(2)");

uint256 expectedIdle = idleBefore - suppliedShares[0] / SharesMathLib.VIRTUAL_SHARES
- suppliedShares[1] / SharesMathLib.VIRTUAL_SHARES - suppliedShares[2] / SharesMathLib.VIRTUAL_SHARES;
assertEq(
morpho.supplyShares(allMarkets[0].id(), address(vault)),
suppliedAssets[0] * SharesMathLib.VIRTUAL_SHARES,
"morpho.supplyShares(0)"
);
assertEq(
morpho.supplyShares(allMarkets[1].id(), address(vault)),
suppliedAssets[1] * SharesMathLib.VIRTUAL_SHARES,
"morpho.supplyShares(1)"
);
assertEq(
morpho.supplyShares(allMarkets[2].id(), address(vault)),
suppliedAssets[2] * SharesMathLib.VIRTUAL_SHARES,
"morpho.supplyShares(2)"
);

uint256 expectedIdle = idleBefore - suppliedAssets[0] - suppliedAssets[1] - suppliedAssets[2];
assertApproxEqAbs(vault.idle(), expectedIdle, 3, "vault.idle() 1");
}
}
91 changes: 41 additions & 50 deletions test/forge/ReallocateWithdrawTest.sol
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Expand Up @@ -32,24 +32,10 @@ contract ReallocateWithdrawTest is IntegrationTest {
vault.deposit(INITIAL_DEPOSIT, ONBEHALF);
}

function testReallocateWithdrawAll() public {
withdrawn.push(MarketAllocation(allMarkets[0], 0, morpho.supplyShares(allMarkets[0].id(), address(vault))));
withdrawn.push(MarketAllocation(allMarkets[1], 0, morpho.supplyShares(allMarkets[1].id(), address(vault))));
withdrawn.push(MarketAllocation(allMarkets[2], 0, morpho.supplyShares(allMarkets[2].id(), address(vault))));

vm.prank(ALLOCATOR);
vault.reallocate(withdrawn, supplied);

assertEq(morpho.supplyShares(allMarkets[0].id(), address(vault)), 0, "morpho.supplyShares(0)");
assertEq(morpho.supplyShares(allMarkets[1].id(), address(vault)), 0, "morpho.supplyShares(1)");
assertEq(morpho.supplyShares(allMarkets[2].id(), address(vault)), 0, "morpho.supplyShares(2)");
assertEq(vault.idle(), INITIAL_DEPOSIT, "vault.idle() 1");
}

function testReallocateWithdrawMax() public {
withdrawn.push(MarketAllocation(allMarkets[0], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[1], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[2], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[0], type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[1], type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[2], type(uint256).max));

vm.prank(ALLOCATOR);
vault.reallocate(withdrawn, supplied);
Expand All @@ -63,48 +49,51 @@ contract ReallocateWithdrawTest is IntegrationTest {
function testReallocateWithdrawInconsistentAsset() public {
allMarkets[0].loanToken = address(1);

withdrawn.push(MarketAllocation(allMarkets[0], 0, 0));
withdrawn.push(MarketAllocation(allMarkets[0], 0));

vm.prank(ALLOCATOR);
vm.expectRevert(abi.encodeWithSelector(ErrorsLib.InconsistentAsset.selector, allMarkets[0].id()));
vault.reallocate(withdrawn, supplied);
}

function testReallocateWithdrawSupply(uint256[3] memory withdrawnShares, uint256[3] memory suppliedAssets) public {
function testReallocateWithdrawSupply(uint256[3] memory withdrawnAssets, uint256[3] memory suppliedAssets) public {
uint256[3] memory sharesBefore = [
morpho.supplyShares(allMarkets[0].id(), address(vault)),
morpho.supplyShares(allMarkets[1].id(), address(vault)),
morpho.supplyShares(allMarkets[2].id(), address(vault))
];

withdrawnShares[0] = bound(withdrawnShares[0], 0, sharesBefore[0]);
withdrawnShares[1] = bound(withdrawnShares[1], 0, sharesBefore[1]);
withdrawnShares[2] = bound(withdrawnShares[2], 0, sharesBefore[2]);

uint256[3] memory totalSupplyAssets;
uint256[3] memory totalSupplyShares;
(totalSupplyAssets[0], totalSupplyShares[0],,) = morpho.expectedMarketBalances(allMarkets[0]);
(totalSupplyAssets[1], totalSupplyShares[1],,) = morpho.expectedMarketBalances(allMarkets[1]);
(totalSupplyAssets[2], totalSupplyShares[2],,) = morpho.expectedMarketBalances(allMarkets[2]);

uint256[3] memory withdrawnAssets = [
withdrawnShares[0].toAssetsDown(totalSupplyAssets[0], totalSupplyShares[0]),
withdrawnShares[1].toAssetsDown(totalSupplyAssets[1], totalSupplyShares[1]),
withdrawnShares[2].toAssetsDown(totalSupplyAssets[2], totalSupplyShares[2])
withdrawnAssets[0] =
bound(withdrawnAssets[0], 0, sharesBefore[0].toAssetsDown(totalSupplyAssets[0], totalSupplyShares[0]));
withdrawnAssets[1] =
bound(withdrawnAssets[1], 0, sharesBefore[1].toAssetsDown(totalSupplyAssets[1], totalSupplyShares[1]));
withdrawnAssets[2] =
bound(withdrawnAssets[2], 0, sharesBefore[2].toAssetsDown(totalSupplyAssets[2], totalSupplyShares[2]));

uint256[3] memory withdrawnShares = [
withdrawnAssets[0].toSharesUp(totalSupplyAssets[0], totalSupplyShares[0]),
withdrawnAssets[1].toSharesUp(totalSupplyAssets[1], totalSupplyShares[1]),
withdrawnAssets[2].toSharesUp(totalSupplyAssets[2], totalSupplyShares[2])
];

vm.expectEmit(true, true, true, false, address(vault));

if (withdrawnShares[0] > 0) {
withdrawn.push(MarketAllocation(allMarkets[0], 0, withdrawnShares[0]));
if (withdrawnAssets[0] > 0) {
withdrawn.push(MarketAllocation(allMarkets[0], withdrawnAssets[0]));
emit EventsLib.ReallocateWithdraw(ALLOCATOR, allMarkets[0].id(), 0, 0);
}
if (withdrawnAssets[1] > 0) {
withdrawn.push(MarketAllocation(allMarkets[1], withdrawnAssets[1], 0));
withdrawn.push(MarketAllocation(allMarkets[1], withdrawnAssets[1]));
emit EventsLib.ReallocateWithdraw(ALLOCATOR, allMarkets[1].id(), 0, 0);
}
if (withdrawnShares[2] > 0) {
withdrawn.push(MarketAllocation(allMarkets[2], 0, withdrawnShares[2]));
if (withdrawnAssets[2] > 0) {
withdrawn.push(MarketAllocation(allMarkets[2], withdrawnAssets[2]));
emit EventsLib.ReallocateWithdraw(ALLOCATOR, allMarkets[2].id(), 0, 0);
}

Expand Down Expand Up @@ -133,16 +122,16 @@ contract ReallocateWithdrawTest is IntegrationTest {
suppliedAssets[2].toSharesDown(totalSupplyAssets[2], totalSupplyShares[2])
];

if (suppliedShares[0] > 0) {
supplied.push(MarketAllocation(allMarkets[0], suppliedAssets[0], 0));
if (suppliedAssets[0] > 0) {
supplied.push(MarketAllocation(allMarkets[0], suppliedAssets[0]));
emit EventsLib.ReallocateSupply(ALLOCATOR, allMarkets[0].id(), 0, 0);
}
if (suppliedAssets[1] > 0) {
supplied.push(MarketAllocation(allMarkets[1], 0, suppliedShares[1]));
supplied.push(MarketAllocation(allMarkets[1], suppliedAssets[1]));
emit EventsLib.ReallocateSupply(ALLOCATOR, allMarkets[1].id(), 0, 0);
}
if (suppliedShares[2] > 0) {
supplied.push(MarketAllocation(allMarkets[2], suppliedAssets[2], 0));
if (suppliedAssets[2] > 0) {
supplied.push(MarketAllocation(allMarkets[2], suppliedAssets[2]));
emit EventsLib.ReallocateSupply(ALLOCATOR, allMarkets[2].id(), 0, 0);
}

Expand Down Expand Up @@ -170,30 +159,32 @@ contract ReallocateWithdrawTest is IntegrationTest {
assertApproxEqAbs(vault.idle(), expectedIdle, 1, "vault.idle() 1");
}

function testReallocateUnauthorizedMarket(uint256 amount) public {
amount = bound(amount, 1, CAP2);
function testReallocateUnauthorizedMarket(uint256[3] memory suppliedAssets) public {
suppliedAssets[0] = bound(suppliedAssets[0], 1, CAP2);
suppliedAssets[1] = bound(suppliedAssets[1], 1, CAP2);
suppliedAssets[2] = bound(suppliedAssets[2], 1, CAP2);

_setCap(allMarkets[1], 0);

withdrawn.push(MarketAllocation(allMarkets[0], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[1], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[2], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[0], type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[1], type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[2], type(uint256).max));

supplied.push(MarketAllocation(allMarkets[0], amount, 0));
supplied.push(MarketAllocation(allMarkets[1], amount, 0));
supplied.push(MarketAllocation(allMarkets[2], amount, 0));
supplied.push(MarketAllocation(allMarkets[0], suppliedAssets[0]));
supplied.push(MarketAllocation(allMarkets[1], suppliedAssets[1]));
supplied.push(MarketAllocation(allMarkets[2], suppliedAssets[2]));

vm.prank(ALLOCATOR);
vm.expectRevert(abi.encodeWithSelector(ErrorsLib.UnauthorizedMarket.selector, allMarkets[1].id()));
vault.reallocate(withdrawn, supplied);
}

function testReallocateSupplyCapExceeded() public {
withdrawn.push(MarketAllocation(allMarkets[0], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[1], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[2], 0, type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[0], type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[1], type(uint256).max));
withdrawn.push(MarketAllocation(allMarkets[2], type(uint256).max));

supplied.push(MarketAllocation(allMarkets[0], CAP2 + 1, 0));
supplied.push(MarketAllocation(allMarkets[0], CAP2 + 1));

vm.prank(ALLOCATOR);
vm.expectRevert(abi.encodeWithSelector(ErrorsLib.SupplyCapExceeded.selector, allMarkets[0].id()));
Expand All @@ -210,7 +201,7 @@ contract ReallocateWithdrawTest is IntegrationTest {

_setCap(allMarkets[0], type(uint192).max);

supplied.push(MarketAllocation(allMarkets[0], CAP2 + rewards, 0));
supplied.push(MarketAllocation(allMarkets[0], CAP2 + rewards));

vm.prank(ALLOCATOR);
vm.expectRevert(ErrorsLib.InsufficientIdle.selector);
Expand Down
17 changes: 6 additions & 11 deletions test/hardhat/MetaMorpho.spec.ts
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Expand Up @@ -250,29 +250,25 @@ describe("MetaMorpho", () => {
const market = await expectedMarket(marketParams);
const position = await morpho.position(identifier(marketParams), metaMorphoAddress);

const liquidity = market.totalSupplyAssets - market.totalBorrowAssets;
const liquidityShares = liquidity.toSharesDown(market.totalSupplyAssets, market.totalSupplyShares);

return {
marketParams,
market,
liquidShares: position.supplyShares.min(liquidityShares),
liquidity: market.totalSupplyAssets - market.totalBorrowAssets,
supplyAssets: position.supplyShares.toAssetsDown(market.totalSupplyAssets, market.totalSupplyShares),
};
}),
);

const withdrawn = allocation
.map(({ marketParams, liquidShares }) => ({
.map(({ marketParams, liquidity, supplyAssets }) => ({
marketParams,
assets: 0n,
// Always withdraw all, up to the liquidity.
shares: liquidShares,
assets: liquidity > supplyAssets ? MaxUint256 : liquidity,
}))
.filter(({ shares }) => shares > 0n);
.filter(({ assets }) => assets > 0n);

const withdrawnAssets = allocation.reduce(
(total, { market, liquidShares }) =>
total + liquidShares.toAssetsDown(market.totalSupplyAssets, market.totalSupplyShares),
(total, { supplyAssets, liquidity }) => total + supplyAssets.min(liquidity),
0n,
);

Expand All @@ -284,7 +280,6 @@ describe("MetaMorpho", () => {
marketParams,
// Always supply evenly on each market 90% of what the vault withdrawn in total.
assets: marketAssets,
shares: 0n,
}))
.filter(({ assets }) => assets > 0n);

Expand Down