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Early redemption of fully assigned Claims #218

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merged 8 commits into from
Sep 13, 2023
Merged

Early redemption of fully assigned Claims #218

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9ea9537
Add initial impl of early redeem
neodaoist Sep 9, 2023
6eb37ad
Smol
neodaoist Sep 9, 2023
6651674
Merge branch 'neo/val-1202-set-the-table-of-net-offsetting-positions'…
neodaoist Sep 9, 2023
2424468
lint
neodaoist Sep 12, 2023
5108598
Merge branch 'neo/val-869-early-redemption-of-fully-assigned-claims' …
neodaoist Sep 12, 2023
63ec13f
snapshot
neodaoist Sep 12, 2023
84fc1ea
Remove solpretty for time being
neodaoist Sep 13, 2023
da4e13e
Remove solpretty lib
neodaoist Sep 13, 2023
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36 changes: 27 additions & 9 deletions .solhint.json
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Original file line number Diff line number Diff line change
@@ -1,10 +1,28 @@
{
"extends": "solhint:recommended",
"rules": {
"compiler-version": ["error",">=0.8.0"],
"no-inline-assembly": ["off",">=0.8.0"],
"avoid-low-level-calls": ["off",">=0.8.0"],
"not-rely-on-time": ["off",">=0.8.0"],
"func-visibility": ["warn",{"ignoreConstructors":true}]
}
}
"extends": "solhint:recommended",
"rules": {
"compiler-version": [
"error",
">=0.8.0"
],
"no-inline-assembly": [
"off",
">=0.8.0"
],
"avoid-low-level-calls": [
"off",
">=0.8.0"
],
"not-rely-on-time": [
"off",
">=0.8.0"
],
"no-global-import": "off",
"func-visibility": [
"warn",
{
"ignoreConstructors": true
}
]
}
}
2 changes: 2 additions & 0 deletions src/TokenURIGenerator.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -415,6 +415,8 @@ contract TokenURIGenerator is ITokenURIGenerator {
buffer[i] = ALPHABET[value & 0xf];
value >>= 4;
}

// solhint-disable custom-errors
require(value == 0, "Strings: hex length insufficient");
return string(buffer);
}
Expand Down
9 changes: 5 additions & 4 deletions src/ValoremOptionsClearinghouse.sol
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Expand Up @@ -180,7 +180,7 @@ contract ValoremOptionsClearinghouse is ERC1155, IValoremOptionsClearinghouse {
}

/// @inheritdoc IValoremOptionsClearinghouse
function claim(uint256 claimId) external view returns (Claim memory claimInfo) {
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function claim(uint256 claimId) public view returns (Claim memory claimInfo) {
(uint160 optionKey, uint96 claimKey) = _decodeTokenId(claimId);

if (!_isClaimInitialized(optionKey, claimKey)) {
Expand Down Expand Up @@ -516,12 +516,13 @@ contract ValoremOptionsClearinghouse is ERC1155, IValoremOptionsClearinghouse {
revert CallerDoesNotOwnClaimId(claimId);
}

// Setup pointers to the option and info.
// Setup pointers to the option and claim info.
OptionTypeState storage optionTypeState = optionTypeStates[optionKey];
Option memory optionRecord = optionTypeState.option;
Claim memory claimInfo = claim(claimId); // TODO can we combine this with Claim accounting below?

// Can't redeem until expiry.
if (optionRecord.expiryTimestamp > block.timestamp) {
// Can't redeem before expiry, unless Claim is fully assigned.
if (optionRecord.expiryTimestamp > block.timestamp && claimInfo.amountWritten > claimInfo.amountExercised) {
revert ClaimTooSoon(claimId, optionRecord.expiryTimestamp);
}

Expand Down
61 changes: 60 additions & 1 deletion test/ValoremOptionsClearinghouse-v1.1.unit.t.sol
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Expand Up @@ -247,5 +247,64 @@ contract ValoremOptionsClearinghousev11UnitTest is BaseClearinghouseTest {
// redeem() early
//////////////////////////////////////////////////////////////*/

// TODO
function test_redeem_whenBeforeExpiryAndClaimIsFullyAssigned() public {
vm.startPrank(ALICE);
uint256 claimId = engine.write(testOptionId, 10);
engine.safeTransferFrom(ALICE, BOB, testOptionId, 10, "");
vm.stopPrank();

vm.warp(testExerciseTimestamp);
vm.prank(BOB);
engine.exercise(testOptionId, 10);

// pre-redeem check
assertEq(
ERC20(testExerciseAsset).balanceOf(ALICE), STARTING_BALANCE, "Alice exercise asset balance, pre-redeem"
);

// vm.warp(testExpiryTimestamp);
vm.prank(ALICE);
engine.redeem(claimId);

// post-redeem check
uint256 expectedPostRedeemBalance = STARTING_BALANCE + (testExerciseAmount * 10);
assertEq(
ERC20(testExerciseAsset).balanceOf(ALICE),
expectedPostRedeemBalance,
"Alice exercise asset balance, post-redeem"
);
}

function testRevert_redeem_whenBeforeExpiryAndClaimIsUnassigned() public {
vm.startPrank(ALICE);
uint256 claimId = engine.write(testOptionId, 2);

vm.warp(testExpiryTimestamp - 1 seconds);

vm.expectRevert(
abi.encodeWithSelector(IValoremOptionsClearinghouse.ClaimTooSoon.selector, claimId, testExpiryTimestamp)
);

engine.redeem(claimId);
vm.stopPrank();
}

function testRevert_redeem_whenBeforeExpiryAndClaimIsPartiallyAssigned() public {
vm.startPrank(ALICE);
uint256 claimId = engine.write(testOptionId, 2);
engine.safeTransferFrom(ALICE, BOB, testOptionId, 2, "");
vm.stopPrank();

vm.warp(testExpiryTimestamp - 1 seconds);

vm.prank(BOB);
engine.exercise(testOptionId, 1);

vm.expectRevert(
abi.encodeWithSelector(IValoremOptionsClearinghouse.ClaimTooSoon.selector, claimId, testExpiryTimestamp)
);

vm.prank(ALICE);
engine.redeem(claimId);
}
}
20 changes: 3 additions & 17 deletions test/ValoremOptionsClearinghouse.unit.t.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -751,7 +751,7 @@ contract ValoremOptionsClearinghouseUnitTest is BaseClearinghouseTest {
// function redeem(uint256 claimId) external
//////////////////////////////////////////////////////////////*/

function test_redeem_whenUnexercised() public {
function test_redeem_whenUnassigned() public {
uint112 amountWritten = 7;
uint256 expectedUnderlyingAmount = testUnderlyingAmount * amountWritten;
uint256 expectedUnderlyingFee = _calculateFee(expectedUnderlyingAmount);
Expand Down Expand Up @@ -792,7 +792,7 @@ contract ValoremOptionsClearinghouseUnitTest is BaseClearinghouseTest {
assertEq(DAILIKE.balanceOf(ALICE), STARTING_BALANCE, "Alice exercise post redeem"); // no change
}

function test_redeem_whenPartiallyExercised() public {
function test_redeem_whenPartiallyAssigned() public {
uint112 amountWritten = 7;
uint112 amountExercised = 3;
uint256 expectedUnderlyingFee = _calculateFee(testUnderlyingAmount);
Expand Down Expand Up @@ -874,7 +874,7 @@ contract ValoremOptionsClearinghouseUnitTest is BaseClearinghouseTest {
);
}

function test_redeem_whenFullyExercised() public {
function test_redeem_whenFullyAssigned() public {
uint112 amountWritten = 7;
uint112 amountExercised = 7;
uint256 expectedUnderlyingFee = _calculateFee(testUnderlyingAmount);
Expand Down Expand Up @@ -992,20 +992,6 @@ contract ValoremOptionsClearinghouseUnitTest is BaseClearinghouseTest {
vm.stopPrank();
}

function testRevert_redeem_whenClaimTooSoon() public {
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This test should not go away, but rather be altered to catch the remaining cases.

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It moved to the other 1.1 test file.

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My thinking is it will be cleaner for the auditors to encapsulate all 1.1 functionality in its own test class. Open to otherwise tho.

vm.startPrank(ALICE);
uint256 claimId = engine.write(testOptionId, 1);

vm.warp(testExerciseTimestamp - 1 seconds);

vm.expectRevert(
abi.encodeWithSelector(IValoremOptionsClearinghouse.ClaimTooSoon.selector, claimId, testExpiryTimestamp)
);

engine.redeem(claimId);
vm.stopPrank();
}

/*//////////////////////////////////////////////////////////////
// function exercise(uint256 optionId, uint112 amount) external
//////////////////////////////////////////////////////////////*/
Expand Down