feat: bunker mode for vaults

lidofinance · Nov 27, 2024 · 2cfd7a6 · 2cfd7a6
1 parent 803199c
commit 2cfd7a6
Show file tree

Hide file tree

Showing 6 changed files with 28 additions and 14 deletions.
diff --git a/contracts/0.8.25/Accounting.sol b/contracts/0.8.25/Accounting.sol
@@ -222,7 +222,8 @@ contract Accounting is VaultHub {
             update.postTotalPooledEther,
             _pre.totalShares,
             _pre.totalPooledEther,
-            update.sharesToMintAsFees
+            update.sharesToMintAsFees,
+            _report.isBunkerMode
         );
     }
 

diff --git a/contracts/0.8.25/vaults/VaultHub.sol b/contracts/0.8.25/vaults/VaultHub.sol
@@ -311,7 +311,8 @@ abstract contract VaultHub is AccessControlEnumerableUpgradeable {
         uint256 _postTotalPooledEther,
         uint256 _preTotalShares,
         uint256 _preTotalPooledEther,
-        uint256 _sharesToMintAsFees
+        uint256 _sharesToMintAsFees,
+        bool _isBunkerMode
     ) internal view returns (uint256[] memory lockedEther, uint256[] memory treasuryFeeShares) {
         /// HERE WILL BE ACCOUNTING DRAGONS
 
@@ -348,9 +349,16 @@ abstract contract VaultHub is AccessControlEnumerableUpgradeable {
                 );
             }
 
-            uint256 totalMintedShares = socket.sharesMinted + treasuryFeeShares[i];
-            uint256 mintedStETH = (totalMintedShares * _postTotalPooledEther) / _postTotalShares; //TODO: check rounding
-            lockedEther[i] = (mintedStETH * BPS_BASE) / (BPS_BASE - socket.reserveRatio);
+            if (!_isBunkerMode) {
+                uint256 postSharesMinted = socket.sharesMinted + treasuryFeeShares[i];
+                uint256 inStETH = (postSharesMinted * _postTotalPooledEther) / _postTotalShares;
+                lockedEther[i] = (inStETH * BPS_BASE) / (BPS_BASE - socket.reserveRatio);
+            } else {
+                // if bunker mode is enabled, the ether does not unlock, but fees accrues
+                uint256 treasuryFee = (treasuryFeeShares[i] * _postTotalPooledEther) / _postTotalShares;
+                uint256 treasuryFeePlusReserve = (treasuryFee * BPS_BASE) / (BPS_BASE - socket.reserveRatio);
+                lockedEther[i] = socket.vault.locked() + treasuryFeePlusReserve;
+            }
         }
     }
 
@@ -372,17 +380,16 @@ abstract contract VaultHub is AccessControlEnumerableUpgradeable {
         // Lido curated validators could earn if vault's ETH was staked in Lido
         // itself and minted as stETH shares
         //
-        // treasuryFeeShares = value * lidoGrossAPR * treasuryFeeRate / preShareRate
+        // treasuryFeeShares = chargeableValue * lidoGrossAPR * treasuryFeeRate / preShareRate
         // lidoGrossAPR = postShareRateWithoutFees / preShareRate - 1
-        // = value  * (postShareRateWithoutFees / preShareRate - 1) * treasuryFeeRate / preShareRate
+        // = chargeableValue  * (postShareRateWithoutFees / preShareRate - 1) * treasuryFeeRate / preShareRate
 
         // TODO: optimize potential rewards calculation
-        uint256 potentialRewards = ((chargeableValue * (_postTotalPooledEther * _preTotalShares)) /
-            (_postTotalSharesNoFees * _preTotalPooledEther) -
-            chargeableValue);
-        uint256 treasuryFee = (potentialRewards * _socket.treasuryFeeBP) / BPS_BASE;
+        uint256 potentialRewards = chargeableValue *
+            ((_postTotalPooledEther * _preTotalShares) / (_postTotalSharesNoFees * _preTotalPooledEther) - 1);
 
-        treasuryFeeShares = (treasuryFee * _preTotalShares) / _preTotalPooledEther;
+        treasuryFeeShares = (potentialRewards * _socket.treasuryFeeBP * _preTotalShares)
+            / (_preTotalPooledEther * BPS_BASE);
     }
 
     function _updateVaults(

diff --git a/contracts/0.8.25/vaults/interfaces/IHubVault.sol b/contracts/0.8.25/vaults/interfaces/IHubVault.sol
@@ -9,6 +9,8 @@ interface IHubVault {
 
     function inOutDelta() external view returns (int256);
 
+    function locked() external view returns (uint256);
+
     function rebalance(uint256 _ether) external payable;
 
     function report(uint256 _valuation, int256 _inOutDelta, uint256 _locked) external;

diff --git a/contracts/0.8.9/oracle/AccountingOracle.sol b/contracts/0.8.9/oracle/AccountingOracle.sol
@@ -567,7 +567,8 @@ contract AccountingOracle is BaseOracle {
                 data.sharesRequestedToBurn,
                 data.withdrawalFinalizationBatches,
                 data.vaultsValues,
-                data.vaultsNetCashFlows
+                data.vaultsNetCashFlows,
+                data.isBunkerMode
             )
         );
 

diff --git a/contracts/common/interfaces/ReportValues.sol b/contracts/common/interfaces/ReportValues.sol
@@ -30,4 +30,6 @@ struct ReportValues {
     /// @notice netCashFlow of each Lido vault
     ///         (difference between deposits to and withdrawals from the vault)
     int256[] netCashFlows;
+    /// @notice indicates whether the protocol is in bunker mode
+    bool isBunkerMode;
 }
diff --git a/test/0.4.24/contracts/AccountingOracle__MockForLegacyOracle.sol b/test/0.4.24/contracts/AccountingOracle__MockForLegacyOracle.sol
@@ -46,7 +46,8 @@ contract AccountingOracle__MockForLegacyOracle {
             data.sharesRequestedToBurn,
             data.withdrawalFinalizationBatches,
             new uint256[](0),
-            new int256[](0)
+            new int256[](0),
+            false
             )
         );
     }