@rev-net/core-v6 0.0.37 → 0.0.39

package/test/TestReallocationSandwich.t.sol

@@ -1,412 +0,0 @@
-// SPDX-License-Identifier: MIT
-pragma solidity 0.8.28;
-
-// forge-lint: disable-next-line(unaliased-plain-import)
-import "forge-std/Test.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import /* {*} from */ "@bananapus/core-v6/test/helpers/TestBaseWorkflow.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import /* {*} from */ "./../src/REVDeployer.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import "@croptop/core-v6/src/CTPublisher.sol";
-import {MockBuybackDataHook} from "./mock/MockBuybackDataHook.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import "@bananapus/core-v6/script/helpers/CoreDeploymentLib.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import "@bananapus/721-hook-v6/script/helpers/Hook721DeploymentLib.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import "@bananapus/suckers-v6/script/helpers/SuckerDeploymentLib.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import "@croptop/core-v6/script/helpers/CroptopDeploymentLib.sol";
-// forge-lint: disable-next-line(unaliased-plain-import)
-import "@bananapus/router-terminal-v6/script/helpers/RouterTerminalDeploymentLib.sol";
-import {JBConstants} from "@bananapus/core-v6/src/libraries/JBConstants.sol";
-import {JBAccountingContext} from "@bananapus/core-v6/src/structs/JBAccountingContext.sol";
-import {JBPermissionIds} from "@bananapus/permission-ids-v6/src/JBPermissionIds.sol";
-import {REVLoans} from "../src/REVLoans.sol";
-import {REVLoan} from "../src/structs/REVLoan.sol";
-import {REVStageConfig, REVAutoIssuance} from "../src/structs/REVStageConfig.sol";
-import {REVLoanSource} from "../src/structs/REVLoanSource.sol";
-import {REVDescription} from "../src/structs/REVDescription.sol";
-import {IREVLoans} from "./../src/interfaces/IREVLoans.sol";
-import {JBSuckerDeployerConfig} from "@bananapus/suckers-v6/src/structs/JBSuckerDeployerConfig.sol";
-import {JBSuckerRegistry} from "@bananapus/suckers-v6/src/JBSuckerRegistry.sol";
-import {JB721TiersHookDeployer} from "@bananapus/721-hook-v6/src/JB721TiersHookDeployer.sol";
-import {JB721TiersHook} from "@bananapus/721-hook-v6/src/JB721TiersHook.sol";
-import {JB721TiersHookStore} from "@bananapus/721-hook-v6/src/JB721TiersHookStore.sol";
-import {JB721CheckpointsDeployer} from "@bananapus/721-hook-v6/src/JB721CheckpointsDeployer.sol";
-import {IJB721CheckpointsDeployer} from "@bananapus/721-hook-v6/src/interfaces/IJB721CheckpointsDeployer.sol";
-import {JBAddressRegistry} from "@bananapus/address-registry-v6/src/JBAddressRegistry.sol";
-import {IJBAddressRegistry} from "@bananapus/address-registry-v6/src/interfaces/IJBAddressRegistry.sol";
-import {REVEmpty721Config} from "./helpers/REVEmpty721Config.sol";
-import {REVOwner} from "../src/REVOwner.sol";
-import {IREVDeployer} from "../src/interfaces/IREVDeployer.sol";
-import {MockSuckerRegistry} from "./mock/MockSuckerRegistry.sol";
-
-/// @notice Deterministic test for the reallocation sandwich at stage boundaries.
-/// Documents that a borrower can extract additional value by calling `reallocateCollateralFromLoan` immediately
-/// after a stage transition that lowers the `cashOutTaxRate`. This is intentional design behavior:
-/// loan value tracks the current bonding curve parameters, and stage boundaries are immutable and predictable.
-/// See RISKS.md section 3 ("reallocateCollateralFromLoan sandwich potential") for details.
-contract TestReallocationSandwich is TestBaseWorkflow {
-    // forge-lint: disable-next-line(mixed-case-variable)
-    bytes32 REV_DEPLOYER_SALT = "REVDeployer";
-
-    // forge-lint: disable-next-line(mixed-case-variable)
-    REVDeployer REV_DEPLOYER;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    REVOwner REV_OWNER;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    JB721TiersHook EXAMPLE_HOOK;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    IJB721TiersHookDeployer HOOK_DEPLOYER;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    IJB721TiersHookStore HOOK_STORE;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    IJBAddressRegistry ADDRESS_REGISTRY;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    IREVLoans LOANS_CONTRACT;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    IJBSuckerRegistry SUCKER_REGISTRY;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    CTPublisher PUBLISHER;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    MockBuybackDataHook MOCK_BUYBACK;
-
-    // forge-lint: disable-next-line(mixed-case-variable)
-    uint256 FEE_PROJECT_ID;
-    // forge-lint: disable-next-line(mixed-case-variable)
-    uint256 REVNET_ID;
-
-    // forge-lint: disable-next-line(mixed-case-variable)
-    address BORROWER = makeAddr("borrower");
-    // forge-lint: disable-next-line(mixed-case-variable)
-    address OTHER_PAYER = makeAddr("otherPayer");
-
-    address private constant TRUSTED_FORWARDER = 0xB2b5841DBeF766d4b521221732F9B618fCf34A87;
-
-    /// @notice Stage 1 starts now with 60% cashOutTaxRate, stage 2 starts after 30 days with 20% cashOutTaxRate.
-    function _buildConfig()
-        internal
-        view
-        returns (REVConfig memory cfg, JBTerminalConfig[] memory tc, REVSuckerDeploymentConfig memory sdc)
-    {
-        JBAccountingContext[] memory acc = new JBAccountingContext[](1);
-        acc[0] = JBAccountingContext({
-            token: JBConstants.NATIVE_TOKEN, decimals: 18, currency: uint32(uint160(JBConstants.NATIVE_TOKEN))
-        });
-        tc = new JBTerminalConfig[](1);
-        tc[0] = JBTerminalConfig({terminal: jbMultiTerminal(), accountingContextsToAccept: acc});
-
-        REVStageConfig[] memory stages = new REVStageConfig[](2);
-        JBSplit[] memory splits = new JBSplit[](1);
-        splits[0].beneficiary = payable(multisig());
-        splits[0].percent = 10_000;
-
-        // Stage 1: high cashOutTaxRate (60%)
-        stages[0] = REVStageConfig({
-            startsAtOrAfter: uint40(block.timestamp),
-            autoIssuances: new REVAutoIssuance[](0),
-            splitPercent: 0,
-            splits: splits,
-            initialIssuance: uint112(1000e18),
-            issuanceCutFrequency: 0,
-            issuanceCutPercent: 0,
-            cashOutTaxRate: 6000, // 60%
-            extraMetadata: 0
-        });
-
-        // Stage 2: low cashOutTaxRate (20%) -- starts after 30 days
-        stages[1] = REVStageConfig({
-            startsAtOrAfter: uint40(block.timestamp + 30 days),
-            autoIssuances: new REVAutoIssuance[](0),
-            splitPercent: 0,
-            splits: splits,
-            initialIssuance: uint112(1000e18),
-            issuanceCutFrequency: 0,
-            issuanceCutPercent: 0,
-            cashOutTaxRate: 2000, // 20%
-            extraMetadata: 0
-        });
-
-        cfg = REVConfig({
-            // forge-lint: disable-next-line(named-struct-fields)
-            description: REVDescription("SandwichTest", "SWT", "ipfs://sandwich", "SWT_SALT"),
-            baseCurrency: uint32(uint160(JBConstants.NATIVE_TOKEN)),
-            splitOperator: multisig(),
-            stageConfigurations: stages
-        });
-
-        sdc = REVSuckerDeploymentConfig({
-            deployerConfigurations: new JBSuckerDeployerConfig[](0), salt: keccak256(abi.encodePacked("SWT"))
-        });
-    }
-
-    function setUp() public override {
-        super.setUp();
-        FEE_PROJECT_ID = jbProjects().createFor(multisig());
-        SUCKER_REGISTRY = new JBSuckerRegistry(jbDirectory(), jbPermissions(), multisig(), address(0));
-        HOOK_STORE = new JB721TiersHookStore();
-        EXAMPLE_HOOK = new JB721TiersHook(
-            jbDirectory(),
-            jbPermissions(),
-            jbPrices(),
-            jbRulesets(),
-            HOOK_STORE,
-            jbSplits(),
-            IJB721CheckpointsDeployer(address(new JB721CheckpointsDeployer())),
-            multisig()
-        );
-        ADDRESS_REGISTRY = new JBAddressRegistry();
-        HOOK_DEPLOYER = new JB721TiersHookDeployer(EXAMPLE_HOOK, HOOK_STORE, ADDRESS_REGISTRY, multisig());
-        PUBLISHER = new CTPublisher(jbDirectory(), jbPermissions(), FEE_PROJECT_ID, multisig());
-        MOCK_BUYBACK = new MockBuybackDataHook();
-        LOANS_CONTRACT = new REVLoans({
-            controller: jbController(),
-            suckerRegistry: IJBSuckerRegistry(address(new MockSuckerRegistry())),
-            revId: FEE_PROJECT_ID,
-            owner: address(this),
-            permit2: permit2(),
-            trustedForwarder: TRUSTED_FORWARDER
-        });
-        REV_OWNER = new REVOwner(
-            IJBBuybackHookRegistry(address(MOCK_BUYBACK)),
-            jbDirectory(),
-            FEE_PROJECT_ID,
-            SUCKER_REGISTRY,
-            address(LOANS_CONTRACT),
-            address(0)
-        );
-
-        REV_DEPLOYER = new REVDeployer{salt: REV_DEPLOYER_SALT}(
-            jbController(),
-            SUCKER_REGISTRY,
-            FEE_PROJECT_ID,
-            HOOK_DEPLOYER,
-            PUBLISHER,
-            IJBBuybackHookRegistry(address(MOCK_BUYBACK)),
-            address(LOANS_CONTRACT),
-            TRUSTED_FORWARDER,
-            address(REV_OWNER)
-        );
-
-        REV_OWNER.setDeployer(REV_DEPLOYER);
-
-        vm.prank(multisig());
-        jbProjects().approve(address(REV_DEPLOYER), FEE_PROJECT_ID);
-
-        // Deploy the fee project first.
-        (REVConfig memory feeCfg, JBTerminalConfig[] memory feeTc, REVSuckerDeploymentConfig memory feeSdc) =
-            _buildConfig();
-        vm.prank(multisig());
-        REV_DEPLOYER.deployFor({
-            revnetId: FEE_PROJECT_ID,
-            configuration: feeCfg,
-            terminalConfigurations: feeTc,
-            suckerDeploymentConfiguration: feeSdc,
-            tiered721HookConfiguration: REVEmpty721Config.empty721Config(uint32(uint160(JBConstants.NATIVE_TOKEN))),
-            allowedPosts: REVEmpty721Config.emptyAllowedPosts()
-        });
-
-        // Deploy the test revnet.
-        (REVConfig memory cfg, JBTerminalConfig[] memory tc, REVSuckerDeploymentConfig memory sdc) = _buildConfig();
-        // forge-lint: disable-next-line(named-struct-fields)
-        cfg.description = REVDescription("SandwichTest2", "SW2", "ipfs://sandwich2", "SWT_SALT_2");
-        (REVNET_ID,) = REV_DEPLOYER.deployFor({
-            revnetId: 0,
-            configuration: cfg,
-            terminalConfigurations: tc,
-            suckerDeploymentConfiguration: sdc,
-            tiered721HookConfiguration: REVEmpty721Config.empty721Config(uint32(uint160(JBConstants.NATIVE_TOKEN))),
-            allowedPosts: REVEmpty721Config.emptyAllowedPosts()
-        });
-
-        vm.deal(BORROWER, 100 ether);
-        vm.deal(OTHER_PAYER, 100 ether);
-    }
-
-    /// @notice Helper: grant BURN_TOKENS permission to the loans contract for a given account and revnet.
-    function _grantBurnPermission(address account, uint256 revnetId) internal {
-        uint8[] memory permissionIds = new uint8[](1);
-        permissionIds[0] = JBPermissionIds.BURN_TOKENS;
-
-        JBPermissionsData memory permissionsData = JBPermissionsData({
-            // forge-lint: disable-next-line(unsafe-typecast)
-            operator: address(LOANS_CONTRACT),
-            // forge-lint: disable-next-line(unsafe-typecast)
-            projectId: uint56(revnetId),
-            permissionIds: permissionIds
-        });
-
-        vm.prank(account);
-        jbPermissions().setPermissionsFor(account, permissionsData);
-    }
-
-    /// @notice BY DESIGN: A borrower can extract additional value by reallocating collateral immediately after
-    /// a stage transition that lowers the cashOutTaxRate.
-    ///
-    /// The sandwich works as follows:
-    /// 1. Borrower takes a loan in Stage 1 (60% cashOutTaxRate) — collateral is locked at Stage 1's rate
-    /// 2. Time warps past the stage boundary to Stage 2 (20% cashOutTaxRate)
-    /// 3. At Stage 2 rates, the same collateral is worth MORE on the bonding curve, so LESS collateral is
-    ///    needed to support the original loan amount. The borrower frees the excess collateral.
-    /// 4. The freed collateral is used to open a NEW loan at Stage 2 rates — extracting additional funds.
-    /// 5. The borrower now holds TWO loans: the original (with reduced collateral) and a new one (with the
-    ///    freed collateral). The total borrowed across both loans exceeds what was possible at Stage 1.
-    ///
-    /// This is intentional: stage boundaries are immutable and predictable, and loan value tracks
-    /// the current bonding curve parameters. See RISKS.md section 3.
-    function test_reallocationSandwich_extractsValueAtStageBoundary() public {
-        // -- Step 1: Create liquidity from another payer so the bonding curve tax rate has a visible effect.
-        vm.prank(OTHER_PAYER);
-        jbMultiTerminal().pay{value: 10 ether}({
-            projectId: REVNET_ID,
-            token: JBConstants.NATIVE_TOKEN,
-            amount: 10 ether,
-            beneficiary: OTHER_PAYER,
-            minReturnedTokens: 0,
-            memo: "",
-            metadata: ""
-        });
-
-        // -- Step 2: Borrower pays in and receives tokens during Stage 1.
-        vm.prank(BORROWER);
-        uint256 borrowerTokens = jbMultiTerminal().pay{value: 10 ether}({
-            projectId: REVNET_ID,
-            token: JBConstants.NATIVE_TOKEN,
-            amount: 10 ether,
-            beneficiary: BORROWER,
-            minReturnedTokens: 0,
-            memo: "",
-            metadata: ""
-        });
-        assertGt(borrowerTokens, 0, "Borrower should receive tokens");
-
-        // -- Step 3: Grant BURN_TOKENS permission and take a loan during Stage 1.
-        _grantBurnPermission(BORROWER, REVNET_ID);
-
-        REVLoanSource memory source = REVLoanSource({token: JBConstants.NATIVE_TOKEN, terminal: jbMultiTerminal()});
-
-        // Use the minimum prepaid fee (2.5%) so fees don't obscure the comparison.
-        uint256 prepaidFeePercent = LOANS_CONTRACT.MIN_PREPAID_FEE_PERCENT();
-
-        vm.prank(BORROWER);
-        (uint256 stage1LoanId, REVLoan memory stage1Loan) = LOANS_CONTRACT.borrowFrom({
-            revnetId: REVNET_ID,
-            source: source,
-            minBorrowAmount: 0,
-            collateralCount: borrowerTokens,
-            beneficiary: payable(BORROWER),
-            prepaidFeePercent: prepaidFeePercent,
-            holder: BORROWER
-        });
-
-        uint256 stage1BorrowedAmount = stage1Loan.amount;
-        uint256 stage1Collateral = stage1Loan.collateral;
-        assertGt(stage1BorrowedAmount, 0, "Stage 1 loan should have positive borrowed amount");
-        assertEq(stage1Collateral, borrowerTokens, "All tokens should be collateral");
-
-        // Record the borrowable amount for the same collateral count at Stage 1 rates (for comparison).
-        uint256 borrowableStage1 = LOANS_CONTRACT.borrowableAmountFrom(
-            REVNET_ID, borrowerTokens, 18, uint32(uint160(JBConstants.NATIVE_TOKEN))
-        );
-
-        // -- Step 4: Warp past the stage boundary to Stage 2 (lower cashOutTaxRate).
-        vm.warp(block.timestamp + 31 days);
-
-        // Verify borrowable amount increased at Stage 2 rates.
-        uint256 borrowableStage2 = LOANS_CONTRACT.borrowableAmountFrom(
-            REVNET_ID, borrowerTokens, 18, uint32(uint160(JBConstants.NATIVE_TOKEN))
-        );
-        assertGt(borrowableStage2, borrowableStage1, "Borrowable should increase with lower cashOutTaxRate");
-
-        // -- Step 5: Determine how much collateral can be freed.
-        // At Stage 2's lower cashOutTaxRate, less collateral is needed to support the original loan amount.
-        // Use binary search to find the maximum transferable collateral: the largest amount that can be
-        // removed while leaving enough for the remaining collateral to cover the original loan amount.
-        uint256 collateralToTransfer;
-        {
-            uint256 lo = 0;
-            uint256 hi = stage1Collateral;
-            uint256 currency = uint32(uint160(JBConstants.NATIVE_TOKEN));
-            while (lo < hi) {
-                uint256 mid = (lo + hi + 1) / 2;
-                uint256 remaining = stage1Collateral - mid;
-                uint256 borrowable = LOANS_CONTRACT.borrowableAmountFrom(REVNET_ID, remaining, 18, currency);
-                if (borrowable >= stage1BorrowedAmount) {
-                    lo = mid;
-                } else {
-                    hi = mid - 1;
-                }
-            }
-            collateralToTransfer = lo;
-        }
-        assertGt(collateralToTransfer, 0, "Should be able to free some collateral after tax rate decrease");
-
-        // Verify that the remaining collateral at Stage 2 rates supports the original loan amount.
-        uint256 borrowableWithRemaining = LOANS_CONTRACT.borrowableAmountFrom(
-            REVNET_ID, stage1Collateral - collateralToTransfer, 18, uint32(uint160(JBConstants.NATIVE_TOKEN))
-        );
-        assertGe(
-            borrowableWithRemaining,
-            stage1BorrowedAmount,
-            "Remaining collateral should cover original loan at Stage 2 rates"
-        );
-
-        // -- Step 6: Borrower reallocates collateral from the Stage 1 loan to extract the increased value.
-        // Transfer half the collateral from the old loan. The remaining half still covers the original
-        // loan amount at Stage 2's improved rates. The freed collateral goes into a new loan.
-        vm.prank(BORROWER);
-        (
-            , // reallocatedLoanId
-            , // newLoanId
-            REVLoan memory reallocatedLoan,
-            REVLoan memory newLoan
-        ) = LOANS_CONTRACT.reallocateCollateralFromLoan({
-            loanId: stage1LoanId,
-            collateralCountToTransfer: collateralToTransfer,
-            source: source,
-            minBorrowAmount: 0,
-            collateralCountToAdd: 0,
-            beneficiary: payable(BORROWER),
-            prepaidFeePercent: prepaidFeePercent
-        });
-
-        // -- Step 7: Verify the sandwich extracted additional value.
-
-        // The reallocated loan retains the original borrowed amount with reduced collateral.
-        assertEq(reallocatedLoan.amount, stage1BorrowedAmount, "Reallocated loan should keep original amount");
-        assertEq(
-            reallocatedLoan.collateral,
-            stage1Collateral - collateralToTransfer,
-            "Reallocated loan should have reduced collateral"
-        );
-
-        // The new loan was created from the freed collateral at Stage 2 rates.
-        uint256 newBorrowedAmount = newLoan.amount;
-        assertGt(newBorrowedAmount, 0, "New loan should have positive borrowed amount");
-        assertEq(newLoan.collateral, collateralToTransfer, "New loan should hold the transferred collateral");
-
-        // The total borrowed across both loans exceeds the original Stage 1 borrowed amount.
-        // This is the sandwich profit: the borrower extracted additional value from the same total collateral.
-        uint256 totalBorrowedAfterSandwich = uint256(reallocatedLoan.amount) + uint256(newLoan.amount);
-        assertGt(
-            totalBorrowedAfterSandwich,
-            stage1BorrowedAmount,
-            "Total borrowed after sandwich should exceed original Stage 1 amount"
-        );
-
-        // Quantify the extracted delta.
-        uint256 extractedDelta = totalBorrowedAfterSandwich - stage1BorrowedAmount;
-        assertGt(extractedDelta, 0, "Extracted delta should be positive");
-
-        // Log the sandwich economics for visibility.
-        emit log_named_uint("Stage 1 borrowed amount", stage1BorrowedAmount);
-        emit log_named_uint("Reallocated loan amount (unchanged)", reallocatedLoan.amount);
-        emit log_named_uint("New loan amount (from freed collateral)", newBorrowedAmount);
-        emit log_named_uint("Total borrowed after sandwich", totalBorrowedAfterSandwich);
-        emit log_named_uint("Extracted delta (sandwich profit)", extractedDelta);
-        emit log_named_uint("Borrowable at Stage 1 rates (full collateral)", borrowableStage1);
-        emit log_named_uint("Borrowable at Stage 2 rates (full collateral)", borrowableStage2);
-    }
-}