@exponent-labs/exponent-sdk 0.9.1 → 0.9.2

package/src/exponentVaults/vault-interaction.kamino-vault.test.ts

@@ -0,0 +1,149 @@
+import { describe, expect, it } from "@jest/globals"
+import BN from "bn.js"
+import Decimal from "decimal.js"
+import { PublicKey } from "@solana/web3.js"
+
+import { __kaminoVaultTesting } from "./vault-interaction"
+
+function pk(seed: number): PublicKey {
+  return new PublicKey(Uint8Array.from({ length: 32 }, () => seed))
+}
+
+describe("Kamino Vault withdraw planning", () => {
+  it("computes tokens per share from available liquidity, invested liquidity, and pending fees", () => {
+    const tokensPerShare = __kaminoVaultTesting.calculateKaminoVaultTokensPerShareFromSnapshot({
+      sharesBalance: new BN(50),
+      tokenAvailable: new BN(50),
+      sharesIssued: new BN(100),
+      pendingFeesSf: new BN("11529215046068469760"), // 10.0 in Fraction fixed-point
+      reserves: [
+        {
+          reserveAddress: pk(1),
+          investedLiquidityAmount: new Decimal(60),
+          availableLiquidityToWithdraw: new Decimal(40),
+        },
+        {
+          reserveAddress: pk(2),
+          investedLiquidityAmount: new Decimal(40),
+          availableLiquidityToWithdraw: new Decimal(20),
+        },
+      ],
+    })
+
+    expect(tokensPerShare.toFixed(6)).toBe("1.400000")
+  })
+
+  it("uses the first active reserve when vault-side available liquidity already covers the withdraw", () => {
+    const reserveOne = pk(10)
+    const reserveTwo = pk(11)
+    const legs = __kaminoVaultTesting.planKaminoVaultWithdrawLegsFromSnapshot({
+      sharesAmount: new BN(10),
+      snapshot: {
+        sharesBalance: new BN(100),
+        tokenAvailable: new BN(20),
+        sharesIssued: new BN(100),
+        pendingFeesSf: new BN(0),
+        reserves: [
+          {
+            reserveAddress: reserveOne,
+            investedLiquidityAmount: new Decimal(40),
+            availableLiquidityToWithdraw: new Decimal(25),
+          },
+          {
+            reserveAddress: reserveTwo,
+            investedLiquidityAmount: new Decimal(40),
+            availableLiquidityToWithdraw: new Decimal(30),
+          },
+        ],
+      },
+    })
+
+    expect(legs).toHaveLength(1)
+    expect(legs[0]?.reserveAddress.equals(reserveOne)).toBe(true)
+    expect(legs[0]?.sharesAmount.toString()).toBe("10")
+  })
+
+  it("keeps a single-reserve invested withdraw on that reserve when reserve is omitted", () => {
+    const reserve = pk(20)
+    const legs = __kaminoVaultTesting.planKaminoVaultWithdrawLegsFromSnapshot({
+      sharesAmount: new BN(50),
+      snapshot: {
+        sharesBalance: new BN(80),
+        tokenAvailable: new BN(10),
+        sharesIssued: new BN(100),
+        pendingFeesSf: new BN(0),
+        reserves: [{
+          reserveAddress: reserve,
+          investedLiquidityAmount: new Decimal(90),
+          availableLiquidityToWithdraw: new Decimal(90),
+        }],
+      },
+    })
+
+    expect(legs).toHaveLength(1)
+    expect(legs[0]?.reserveAddress.equals(reserve)).toBe(true)
+    expect(legs[0]?.sharesAmount.toString()).toBe("50")
+  })
+
+  it("orders multi-reserve withdraw legs by withdrawable liquidity when invested liquidity must be unwound", () => {
+    const reserveOne = pk(30)
+    const reserveTwo = pk(31)
+    const reserveThree = pk(32)
+    const legs = __kaminoVaultTesting.planKaminoVaultWithdrawLegsFromSnapshot({
+      sharesAmount: new BN(50),
+      snapshot: {
+        sharesBalance: new BN(80),
+        tokenAvailable: new BN(10),
+        sharesIssued: new BN(100),
+        pendingFeesSf: new BN(0),
+        reserves: [
+          {
+            reserveAddress: reserveOne,
+            investedLiquidityAmount: new Decimal(50),
+            availableLiquidityToWithdraw: new Decimal(15),
+          },
+          {
+            reserveAddress: reserveTwo,
+            investedLiquidityAmount: new Decimal(40),
+            availableLiquidityToWithdraw: new Decimal(30),
+          },
+          {
+            reserveAddress: reserveThree,
+            investedLiquidityAmount: new Decimal(20),
+            availableLiquidityToWithdraw: new Decimal(5),
+          },
+        ],
+      },
+    })
+
+    expect(legs.map((leg) => leg.reserveAddress.toBase58())).toEqual([
+      reserveTwo.toBase58(),
+      reserveOne.toBase58(),
+      reserveThree.toBase58(),
+    ])
+    expect(legs.map((leg) => leg.sharesAmount.toString())).toEqual(["33", "12", "4"])
+  })
+
+  it("preserves an explicit reserve override", () => {
+    const reserve = pk(40)
+    const legs = __kaminoVaultTesting.planKaminoVaultWithdrawLegsFromSnapshot({
+      sharesAmount: new BN(25),
+      reserve,
+      snapshot: {
+        sharesBalance: new BN(80),
+        tokenAvailable: new BN(0),
+        sharesIssued: new BN(80),
+        pendingFeesSf: new BN(0),
+        reserves: [{
+          reserveAddress: reserve,
+          investedLiquidityAmount: new Decimal(80),
+          availableLiquidityToWithdraw: new Decimal(80),
+        }],
+      },
+    })
+
+    expect(legs).toHaveLength(1)
+    expect(legs[0]?.reserveAddress.equals(reserve)).toBe(true)
+    expect(legs[0]?.sharesAmount.toString()).toBe("25")
+  })
+})