@indigo-labs/indigo-sdk 0.2.42 → 0.3.1

package/tests/interest-collection/interest-collection.test.ts

@@ -0,0 +1,892 @@
+import { beforeEach, describe, expect, test } from 'vitest';
+import { IndigoTestContext, repeat, runAndAwaitTx } from '../test-helpers';
+import { expectScriptFailure } from '../utils/asserts';
+import {
+  createIndigoTestContext,
+  EXAMPLE_TOKEN_1,
+  EXAMPLE_TOKEN_2,
+  EXAMPLE_TOKEN_3,
+} from '../indigo-test-helpers';
+import {
+  findAdminInterestCollectors as findAdminInterestCollector,
+  findAdminInterestCollectors,
+  findAllInterestCollectors,
+  findRandomNonAdminInterestCollector,
+} from './interest-collector-queries';
+import { benchmarkAndAwaitTx } from '../utils/benchmark-utils';
+import {
+  batchCollectInterest,
+  distributeInterest,
+  updatePermissions,
+} from '../../src/contracts/interest-collection/transactions';
+import {
+  adaAssetClass,
+  assetClassValueOf,
+  matchSingle,
+  mkAssetsOf,
+  mkLovelacesOf,
+} from '@3rd-eye-labs/cardano-offchain-common';
+import {
+  addAssets,
+  fromHex,
+  paymentCredentialOf,
+  stakeCredentialOf,
+} from '@lucid-evolution/lucid';
+import {
+  testCollectInterest,
+  testDistributeInterest,
+} from './transactions-mutated';
+import { signersAllOf, fromSystemParamsAsset } from '../../src';
+import {
+  findAllActiveCdps,
+  findAllNecessaryOrefs,
+  findPriceOracleFromCollateralAsset,
+} from '../cdp/cdp-queries';
+import { feedPriceOracleTx } from '../../src/contracts/price-oracle/transactions';
+import { createUtxosAtInterestCollector } from '../endpoints/interest-collector';
+import { runOpenCdp } from '../cdp/actions';
+import { runFeedPriceToOracle } from '../price-oracle/actions';
+import { runTestDepositCdpWithInterestVar } from '../cdp/transactions-mutated';
+import { findGov } from '../gov/governance-queries';
+import { toDataMultisig } from '../../src/types/multisig';
+import { createMultipleUtxosAtTreasury } from '../endpoints/treasury';
+import { rationalFromInt } from '../../src/types/rational';
+
+describe('Interest Collection', () => {
+  beforeEach<IndigoTestContext>(async (context: IndigoTestContext) => {
+    await createIndigoTestContext(context);
+  });
+
+  test<IndigoTestContext>('Collect Interest - Cannot collect without interacting with a CDP', async (context: IndigoTestContext) => {
+    const interestCollectionUtxo = await findRandomNonAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    await expectScriptFailure(
+      'Single CDP input in the transaction.',
+      testCollectInterest(
+        mkLovelacesOf(1000000n),
+        context.lucid,
+        context.systemParams,
+        context.lucid.newTx(),
+        interestCollectionUtxo,
+        { kind: 'CollectWithoutCDP' },
+      ),
+    );
+  });
+
+  test<IndigoTestContext>('Collect Interest - Cannot collect from interest admin', async (context: IndigoTestContext) => {
+    const adminInterestCollectorUtxo = await findAdminInterestCollectors(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    const [iAssetConfig] = context.assetConfigs;
+
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await runAndAwaitTx(
+      context.lucid,
+      runOpenCdp(
+        context,
+        context.systemParams,
+        'iUSD',
+        adaAssetClass,
+        10_000_000n,
+        500_000n,
+      ),
+    );
+
+    context.emulator.awaitSlot(6500);
+
+    await runFeedPriceToOracle(
+      context,
+      context.systemParams,
+      iAssetConfig,
+      adaAssetClass,
+      rationalFromInt(1n),
+    );
+
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await expectScriptFailure(
+      'Spent UTxO cannot have admin NFT',
+      runTestDepositCdpWithInterestVar(
+        context,
+        context.systemParams,
+        'iUSD',
+        adaAssetClass,
+        adminInterestCollectorUtxo,
+        {
+          kind: 'CollectFromInterestAdmin',
+        },
+      ),
+    );
+  });
+
+  test<IndigoTestContext>('Collect Interest - Cannot collect from multiple interest collectors', async (context: IndigoTestContext) => {
+    const [iAssetConfig] = context.assetConfigs;
+
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await runAndAwaitTx(
+      context.lucid,
+      runOpenCdp(
+        context,
+        context.systemParams,
+        'iUSD',
+        adaAssetClass,
+        10_000_000n,
+        500_000n,
+      ),
+    );
+
+    context.emulator.awaitSlot(6500);
+
+    await runFeedPriceToOracle(
+      context,
+      context.systemParams,
+      iAssetConfig,
+      adaAssetClass,
+      rationalFromInt(1n),
+    );
+
+    const interestCollectors = await findAllInterestCollectors(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+    );
+
+    const interestCollectorsUtxos = interestCollectors.filter(
+      (utxo) =>
+        assetClassValueOf(
+          utxo.assets,
+          fromSystemParamsAsset(
+            context.systemParams.interestCollectionParams.multisigUtxoNft,
+          ),
+        ) === 0n,
+    );
+    if (interestCollectorsUtxos.length < 2) {
+      throw new Error('Expected at least 2 interest collectors');
+    }
+
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    // This can fail in the CDP script or the interest collection script as the
+    // check of single interest collector is redundant.
+    await expectScriptFailure(
+      'crashed',
+      runTestDepositCdpWithInterestVar(
+        context,
+        context.systemParams,
+        'iUSD',
+        adaAssetClass,
+        interestCollectorsUtxos[0],
+        {
+          kind: 'CollectFromMultipleInterestCollectors',
+          utxo: interestCollectorsUtxos[1],
+        },
+      ),
+    );
+  });
+
+  test<IndigoTestContext>('Collect Interest - ADA and 3 assets', async (context: IndigoTestContext) => {
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    const [iAssetConfig] = context.assetConfigs;
+
+    await runAndAwaitTx(
+      context.lucid,
+      runOpenCdp(
+        context,
+        context.systemParams,
+        'iUSD',
+        adaAssetClass,
+        10_000_000n,
+        500_000n,
+      ),
+    );
+
+    context.emulator.awaitSlot(6500);
+
+    await runFeedPriceToOracle(
+      context,
+      context.systemParams,
+      iAssetConfig,
+      adaAssetClass,
+      rationalFromInt(1n),
+    );
+
+    const interestCollectionUtxo = await findRandomNonAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await expectScriptFailure(
+      'E',
+      runTestDepositCdpWithInterestVar(
+        context,
+        context.systemParams,
+        'iUSD',
+        adaAssetClass,
+        interestCollectionUtxo,
+        {
+          kind: 'CollectCustomValue',
+          value: addAssets(
+            mkLovelacesOf(1000000n),
+            mkAssetsOf(EXAMPLE_TOKEN_1, 1_000n),
+            mkAssetsOf(EXAMPLE_TOKEN_2, 1_000n),
+            mkAssetsOf(EXAMPLE_TOKEN_3, 1_000n),
+          ),
+        },
+      ),
+    );
+  });
+
+  // This test settles the biggest possible batch of CDPs
+  test<IndigoTestContext>('Batch collect - 13 CDPs', async (context: IndigoTestContext) => {
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await createMultipleUtxosAtTreasury(
+      mkLovelacesOf(2n),
+      10n,
+      context.systemParams,
+      context,
+    );
+
+    const [iAssetConfig] = context.assetConfigs;
+
+    const numberOfCdps = 13;
+
+    await repeat(numberOfCdps, async () => {
+      await runAndAwaitTx(
+        context.lucid,
+        runOpenCdp(
+          context,
+          context.systemParams,
+          iAssetConfig.iassetTokenNameAscii,
+          adaAssetClass,
+          12_000_000n,
+          6_000_000n,
+        ),
+      );
+    });
+
+    context.emulator.awaitSlot(
+      Number(
+        context.systemParams.interestCollectionParams
+          .interestSettlementCooldown,
+      ) / 1_000,
+    );
+
+    const orefs = await findAllNecessaryOrefs(
+      context.lucid,
+      context.systemParams,
+      'iUSD',
+      adaAssetClass,
+    );
+
+    const priceOracleUtxo = await findPriceOracleFromCollateralAsset(
+      context.lucid,
+      orefs.collateralAsset,
+    );
+
+    const cdpsInfo = await findAllActiveCdps(
+      context.lucid,
+      context.systemParams,
+      'iUSD',
+      stakeCredentialOf(context.users.user.address),
+    );
+
+    expect(
+      cdpsInfo.length === numberOfCdps,
+      `Expected ${numberOfCdps} cdps`,
+    ).toBeTruthy();
+
+    context.lucid.selectWallet.fromSeed(context.users.admin.seedPhrase);
+
+    await runAndAwaitTx(
+      context.lucid,
+      feedPriceOracleTx(
+        context.lucid,
+        priceOracleUtxo!,
+        rationalFromInt(1n),
+        iAssetConfig.collateralAssets[0].oracleParams!,
+        context.emulator.slot,
+      ),
+    );
+
+    await benchmarkAndAwaitTx(
+      'Interest Collection - Batch Collect 13 CDPs',
+      await batchCollectInterest(
+        orefs.collateralAsset.utxo,
+        orefs.interestCollectorUtxo,
+        orefs.interestOracleUtxo,
+        cdpsInfo.map((cdp) => cdp.utxo),
+        context.systemParams,
+        context.lucid,
+        context.emulator.slot,
+      ),
+      context.lucid,
+      context.emulator,
+    );
+  });
+
+  test<IndigoTestContext>('Batch collect fails when no cooldown elapsed', async (context: IndigoTestContext) => {
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await createMultipleUtxosAtTreasury(
+      mkLovelacesOf(2n),
+      10n,
+      context.systemParams,
+      context,
+    );
+
+    const [iAssetConfig] = context.assetConfigs;
+
+    const numberOfCdps = 10;
+
+    await repeat(numberOfCdps, async () => {
+      await runAndAwaitTx(
+        context.lucid,
+        runOpenCdp(
+          context,
+          context.systemParams,
+          iAssetConfig.iassetTokenNameAscii,
+          adaAssetClass,
+          12_000_000n,
+          6_000_000n,
+        ),
+      );
+    });
+
+    // NOTE: Awaiting the cooldown period minus 39 seconds makes the transaction succeed,
+    // this is probably due to the awaitTx time.
+    context.emulator.awaitSlot(
+      Number(
+        context.systemParams.interestCollectionParams
+          .interestSettlementCooldown,
+      ) /
+        1_000 -
+        40,
+    );
+
+    const orefs = await findAllNecessaryOrefs(
+      context.lucid,
+      context.systemParams,
+      'iUSD',
+      adaAssetClass,
+    );
+
+    const priceOracleUtxo = await findPriceOracleFromCollateralAsset(
+      context.lucid,
+      orefs.collateralAsset,
+    );
+
+    const cdpsInfo = await findAllActiveCdps(
+      context.lucid,
+      context.systemParams,
+      'iUSD',
+      stakeCredentialOf(context.users.user.address),
+    );
+
+    expect(
+      cdpsInfo.length === numberOfCdps,
+      `Expected ${numberOfCdps} cdps`,
+    ).toBeTruthy();
+
+    context.lucid.selectWallet.fromSeed(context.users.admin.seedPhrase);
+
+    await runAndAwaitTx(
+      context.lucid,
+      feedPriceOracleTx(
+        context.lucid,
+        priceOracleUtxo!,
+        rationalFromInt(1n),
+        iAssetConfig.collateralAssets[0].oracleParams!,
+        context.emulator.slot,
+      ),
+    );
+
+    await expectScriptFailure(
+      'It is too soon to settle interest',
+      batchCollectInterest(
+        orefs.collateralAsset.utxo,
+        orefs.interestCollectorUtxo,
+        orefs.interestOracleUtxo,
+        cdpsInfo.map((cdp) => cdp.utxo),
+        context.systemParams,
+        context.lucid,
+        context.emulator.slot,
+      ),
+    );
+  });
+
+  test<IndigoTestContext>('Distribute', async (context: IndigoTestContext) => {
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await createUtxosAtInterestCollector(
+      1,
+      addAssets(mkLovelacesOf(1000000n), mkAssetsOf(EXAMPLE_TOKEN_1, 1_000n)),
+      context.systemParams,
+      context,
+    );
+
+    context.lucid.selectWallet.fromSeed(context.users.admin.seedPhrase);
+
+    const interestDistributeUtxo = matchSingle(
+      (
+        await findAllInterestCollectors(
+          context.lucid,
+          context.systemParams.validatorHashes.interestCollectionHash,
+        )
+      ).filter((utxo) => assetClassValueOf(utxo.assets, EXAMPLE_TOKEN_1)),
+      (_) => new Error('Expected a single interest distribute UTXO'),
+    );
+
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    await benchmarkAndAwaitTx(
+      'Interest Collection - Distribute',
+      await distributeInterest(
+        [interestDistributeUtxo],
+        interestAdminUtxo,
+        context.systemParams,
+        context.lucid,
+      ),
+      context.lucid,
+      context.emulator,
+    );
+  });
+
+  test<IndigoTestContext>('Distribute from multiple collectors - 58', async (context: IndigoTestContext) => {
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    const numberOfInterestCollectionUtxos = 58;
+
+    await createUtxosAtInterestCollector(
+      numberOfInterestCollectionUtxos,
+      addAssets(mkLovelacesOf(1000000n), mkAssetsOf(EXAMPLE_TOKEN_1, 1_000n)),
+      context.systemParams,
+      context,
+    );
+
+    context.lucid.selectWallet.fromSeed(context.users.admin.seedPhrase);
+
+    const interestDistributeUtxos = (
+      await findAllInterestCollectors(
+        context.lucid,
+        context.systemParams.validatorHashes.interestCollectionHash,
+      )
+    ).filter((utxo) => assetClassValueOf(utxo.assets, EXAMPLE_TOKEN_1));
+
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    await benchmarkAndAwaitTx(
+      'Interest collection - Distribute from multiple collectors, 58',
+      await distributeInterest(
+        interestDistributeUtxos,
+        interestAdminUtxo,
+        context.systemParams,
+        context.lucid,
+      ),
+      context.lucid,
+      context.emulator,
+    );
+  });
+
+  test<IndigoTestContext>('Distribute - No admin signature', async (context: IndigoTestContext) => {
+    context.lucid.selectWallet.fromSeed(context.users.user.seedPhrase);
+
+    await createUtxosAtInterestCollector(
+      1,
+      addAssets(mkLovelacesOf(1000000n), mkAssetsOf(EXAMPLE_TOKEN_1, 1_000n)),
+      context.systemParams,
+      context,
+    );
+
+    context.lucid.selectWallet.fromSeed(context.users.admin.seedPhrase);
+
+    const interestDistributeUtxo = matchSingle(
+      (
+        await findAllInterestCollectors(
+          context.lucid,
+          context.systemParams.validatorHashes.interestCollectionHash,
+        )
+      ).filter((utxo) => assetClassValueOf(utxo.assets, EXAMPLE_TOKEN_1)),
+      (_) => new Error('Expected a single interest distribute UTXO'),
+    );
+
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    await expectScriptFailure(
+      'Admin multisig must be satisfied',
+      testDistributeInterest(
+        interestDistributeUtxo,
+        interestAdminUtxo,
+        context.users.user.address,
+        undefined,
+        context.systemParams,
+        context.lucid,
+        { kind: 'DistributeInterestNoAdmin' },
+      ),
+    );
+  });
+
+  test<IndigoTestContext>('Update Permissions', async (context: IndigoTestContext) => {
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    const govUtxo = await findGov(
+      context.lucid,
+      context.systemParams.validatorHashes.govHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.govAuthTk,
+      ),
+    );
+
+    const newAdminPermissions = {
+      Signature: {
+        keyHash: fromHex(paymentCredentialOf(context.users.user.address).hash),
+      },
+    };
+
+    await benchmarkAndAwaitTx(
+      'Interest Collection - Update Permissions',
+      await updatePermissions(
+        interestAdminUtxo,
+        govUtxo.utxo,
+        newAdminPermissions,
+        [
+          ...signersAllOf(govUtxo.datum.protocolParams.foundationMultisig),
+          ...signersAllOf(newAdminPermissions),
+        ],
+        context.systemParams,
+        context.lucid,
+      ),
+      context.lucid,
+      context.emulator,
+      [context.users.user.seedPhrase],
+    );
+  });
+
+  test<IndigoTestContext>('Update Permissions - all of multiple signers', async (context: IndigoTestContext) => {
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    const govUtxo = await findGov(
+      context.lucid,
+      context.systemParams.validatorHashes.govHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.govAuthTk,
+      ),
+    );
+
+    const newAdminPermissions = {
+      AtLeast: {
+        required: 1n,
+        authSignatories: [
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.user.address).hash,
+              ),
+            },
+          }),
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.user2.address).hash,
+              ),
+            },
+          }),
+        ],
+      },
+    };
+
+    await benchmarkAndAwaitTx(
+      'Interest Collection - Update Permissions - all of multiple signers',
+      await updatePermissions(
+        interestAdminUtxo,
+        govUtxo.utxo,
+        newAdminPermissions,
+        [
+          ...signersAllOf(govUtxo.datum.protocolParams.foundationMultisig),
+          ...signersAllOf(newAdminPermissions),
+        ],
+        context.systemParams,
+        context.lucid,
+      ),
+      context.lucid,
+      context.emulator,
+      [context.users.user.seedPhrase, context.users.user2.seedPhrase],
+    );
+  });
+
+  test<IndigoTestContext>('Update Permissions - some of multiple signers', async (context: IndigoTestContext) => {
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    const govUtxo = await findGov(
+      context.lucid,
+      context.systemParams.validatorHashes.govHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.govAuthTk,
+      ),
+    );
+
+    const newAdminPermissions = {
+      AtLeast: {
+        required: 2n,
+        authSignatories: [
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.admin.address).hash,
+              ),
+            },
+          }),
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.user.address).hash,
+              ),
+            },
+          }),
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.user2.address).hash,
+              ),
+            },
+          }),
+        ],
+      },
+    };
+
+    await runAndAwaitTx(
+      context.lucid,
+      updatePermissions(
+        interestAdminUtxo,
+        govUtxo.utxo,
+        newAdminPermissions,
+        [
+          ...signersAllOf(govUtxo.datum.protocolParams.foundationMultisig),
+          ...[paymentCredentialOf(context.users.user.address).hash],
+        ],
+        context.systemParams,
+        context.lucid,
+      ),
+      [context.users.user.seedPhrase],
+    );
+  });
+
+  test<IndigoTestContext>('Update Permissions - nested multisig', async (context: IndigoTestContext) => {
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    const govUtxo = await findGov(
+      context.lucid,
+      context.systemParams.validatorHashes.govHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.govAuthTk,
+      ),
+    );
+
+    const newAdminPermissions = {
+      AtLeast: {
+        required: 2n,
+        authSignatories: [
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.admin.address).hash,
+              ),
+            },
+          }),
+          toDataMultisig({
+            AtLeast: {
+              required: 1n,
+              authSignatories: [
+                toDataMultisig({
+                  Signature: {
+                    keyHash: fromHex(
+                      paymentCredentialOf(context.users.user.address).hash,
+                    ),
+                  },
+                }),
+                toDataMultisig({
+                  Signature: {
+                    keyHash: fromHex(
+                      paymentCredentialOf(context.users.user2.address).hash,
+                    ),
+                  },
+                }),
+              ],
+            },
+          }),
+        ],
+      },
+    };
+
+    await runAndAwaitTx(
+      context.lucid,
+      updatePermissions(
+        interestAdminUtxo,
+        govUtxo.utxo,
+        newAdminPermissions,
+        [
+          ...signersAllOf(govUtxo.datum.protocolParams.foundationMultisig),
+          ...[paymentCredentialOf(context.users.user.address).hash],
+        ],
+        context.systemParams,
+        context.lucid,
+      ),
+      [context.users.user.seedPhrase],
+    );
+  });
+
+  test<IndigoTestContext>('Update Permissions - Fail when new admin is not signed', async (context: IndigoTestContext) => {
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    const govUtxo = await findGov(
+      context.lucid,
+      context.systemParams.validatorHashes.govHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.govAuthTk,
+      ),
+    );
+
+    const newAdminPermissions = {
+      Signature: {
+        keyHash: fromHex(paymentCredentialOf(context.users.user.address).hash),
+      },
+    };
+
+    await expectScriptFailure(
+      'New admin multisig must be satisfied',
+      updatePermissions(
+        interestAdminUtxo,
+        govUtxo.utxo,
+        newAdminPermissions,
+        signersAllOf(govUtxo.datum.protocolParams.foundationMultisig),
+        context.systemParams,
+        context.lucid,
+      ),
+    );
+  });
+
+  test<IndigoTestContext>('Update Permissions - Fail when not enough signers of new admin', async (context: IndigoTestContext) => {
+    const interestAdminUtxo = await findAdminInterestCollector(
+      context.lucid,
+      context.systemParams.validatorHashes.interestCollectionHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.multisigUtxoNft,
+      ),
+    );
+
+    const govUtxo = await findGov(
+      context.lucid,
+      context.systemParams.validatorHashes.govHash,
+      fromSystemParamsAsset(
+        context.systemParams.interestCollectionParams.govAuthTk,
+      ),
+    );
+
+    const newAdminPermissions = {
+      AtLeast: {
+        required: 2n,
+        authSignatories: [
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.admin.address).hash,
+              ),
+            },
+          }),
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.user.address).hash,
+              ),
+            },
+          }),
+          toDataMultisig({
+            Signature: {
+              keyHash: fromHex(
+                paymentCredentialOf(context.users.user2.address).hash,
+              ),
+            },
+          }),
+        ],
+      },
+    };
+
+    await expectScriptFailure(
+      'New admin multisig must be satisfied',
+      updatePermissions(
+        interestAdminUtxo,
+        govUtxo.utxo,
+        newAdminPermissions,
+        signersAllOf(govUtxo.datum.protocolParams.foundationMultisig),
+        context.systemParams,
+        context.lucid,
+      ),
+    );
+  });
+});