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Feat: sdeUSD market (#110)
* add sdeUSD market test * add sdeUSD ale * add ERC4626Feed
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‎src/feeds/ERC4626Feed.sol‎

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// SPDX-License-Identifier: MIT
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pragma solidity ^0.8.4;
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import {IChainlinkCurveFeed} from "src/interfaces/IChainlinkCurveFeed.sol";
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import {IERC4626} from "lib/openzeppelin-contracts/contracts/interfaces/IERC4626.sol";
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import {IERC20Metadata} from "@openzeppelin/contracts/token/ERC20/extensions/IERC20Metadata.sol";
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import {FixedPointMathLib} from "solmate/utils/FixedPointMathLib.sol";
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/// @title ERC4626Feed
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/// @notice This contract is a generalized contract for an ERC4626 vault which has a feed in a Normalized Asset to USD price
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/// @dev It will convert the normalized asset to USD price to the Asset to USD price using the vault's rate
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/// @dev This is contract is meant to be used in combination with ChainlinkCurveFeed or ChainlinkCurve2CoinsFeed contracts.
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/// @dev Underlying asset decimals must be 18 or lower.
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contract ERC4626Feed {
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using FixedPointMathLib for uint256;
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error DecimalsMismatch();
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// ChainlinkCurve feed for the normalized asset to USD price
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IChainlinkCurveFeed public immutable feed;
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// ERC4626 vault asset
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IERC4626 public immutable vault;
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// Asset scale
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uint256 public immutable assetScale;
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// Scaling factor
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uint256 public constant SCALE = 1e18;
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// Description of the feed
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string public description;
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constructor(address _vault, address _feed) {
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feed = IChainlinkCurveFeed(_feed);
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vault = IERC4626(_vault);
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assetScale = 10 ** IERC20Metadata(vault.asset()).decimals();
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if (
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feed.decimals() != 18 ||
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vault.decimals() != 18 ||
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assetScale > SCALE
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) revert DecimalsMismatch();
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description = string(
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abi.encodePacked(
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feed.description(),
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" using ",
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vault.symbol(),
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" vault rate"
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)
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);
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}
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/**
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* @return roundId The round ID from the feed
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* @return assetToUsdPrice The latest asset price in USD
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* @return startedAt The timestamp when the latest round of feed started
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* @return updatedAt The timestamp when the latest round of feed was updated
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* @return answeredInRound The round ID in which the answer was computed
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*/
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function latestRoundData()
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public
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view
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returns (uint80, int256, uint256, uint256, uint80)
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{
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(
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uint80 roundId,
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int256 normalizedAssetToUsdPrice,
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uint256 startedAt,
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uint256 updatedAt,
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uint80 answeredInRound
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) = feed.latestRoundData();
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uint256 assetToUnderlyingRate;
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try vault.previewRedeem(SCALE) returns (uint256 rate) {
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assetToUnderlyingRate = rate.divWadDown(assetScale);
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} catch {
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assetToUnderlyingRate = vault.convertToAssets(SCALE).divWadDown(
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assetScale
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);
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}
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// Multiply Normalized Asset/USD price by asset/underlying rate to get Asset/USD price
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int256 assetToUsdPrice = int256(
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(uint256(normalizedAssetToUsdPrice) * assetToUnderlyingRate) / SCALE
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);
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return (
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roundId,
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assetToUsdPrice,
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startedAt,
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updatedAt,
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answeredInRound
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);
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}
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/**
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@notice Retrieves the latest asset price
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@return price The latest asset price
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*/
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function latestAnswer() external view returns (int256) {
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(, int256 price, , , ) = latestRoundData();
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return price;
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}
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/**
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* @notice Retrieves number of decimals for the price feed
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* @return decimals The number of decimals for the price feed
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*/
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function decimals() public pure returns (uint8) {
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return 18;
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}
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}

‎src/interfaces/IChainlinkCurveFeed.sol‎

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pragma solidity ^0.8.13;
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import {IChainlinkBasePriceFeed} from "src/interfaces/IChainlinkFeed.sol";
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import {ICurvePool} from "src/interfaces/ICurvePool.sol";
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interface IChainlinkCurveFeed {
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function decimals() external view returns (uint8 decimals);
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function latestRoundData()
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external
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view
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returns (
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uint80 roundId,
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int256 crvUsdPrice,
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uint256 startedAt,
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uint256 updatedAt,
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uint80 answeredInRound
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);
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function latestAnswer() external view returns (int256 price);
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function description() external view returns (string memory description);
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function assetToUsd() external view returns (IChainlinkBasePriceFeed feed);
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function curvePool() external view returns (ICurvePool pool);
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function targetIndex() external view returns (uint256 index);
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function assetOrTargetK() external view returns (uint256 k);
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}

‎src/interfaces/ICurvePool.sol‎

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function symbol() external view returns (string memory);
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function lp_token() external view returns (address);
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function decimals() external view returns (uint256);
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}

‎test/feedForkTests/SdeUSDFeedFork.t.sol‎

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// SPDX-License-Identifier: UNLICENSED
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pragma solidity ^0.8.19;
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import "forge-std/Test.sol";
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import "src/feeds/ERC4626Feed.sol";
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import "src/interfaces/IChainlinkFeed.sol";
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import {ChainlinkCurveFeed, ICurvePool} from "src/feeds/ChainlinkCurveFeed.sol";
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import "forge-std/console.sol";
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import {ERC20 as ERC20Mock} from "test/mocks/ERC20.sol";
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import {ERC4626, ERC20} from "@openzeppelin/contracts/token/ERC20/extensions/ERC4626.sol";
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import {IERC20} from "@openzeppelin/contracts/token/ERC20/IERC20.sol";
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contract Mock4626 is ERC4626 {
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constructor(IERC20 _asset) ERC20("MOCK", "MOCK") ERC4626(_asset) {}
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function _decimalsOffset() internal view override returns (uint8) {
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return 12;
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}
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}
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contract SdeUSDFeedForkTest is Test {
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ChainlinkCurveFeed curveFeed;
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ERC4626Feed feed;
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address curvePool = address(0x82202CAEC5E6d85014eADC68D4912F3C90093e7C);
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uint256 k = 0;
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uint256 targetIndex = 1;
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address sdeUSD = address(0x5C5b196aBE0d54485975D1Ec29617D42D9198326);
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address dolaFeed = address(0x6255981e2a1EBeA600aFC506185590eD383517be);
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ERC20Mock mock6Decimals;
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Mock4626 mock6Vault;
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ERC4626Feed feed6Decimals;
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function setUp() public {
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string memory url = vm.rpcUrl("mainnet");
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vm.createSelectFork(url);
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curveFeed = new ChainlinkCurveFeed(dolaFeed, curvePool, k, targetIndex);
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feed = new ERC4626Feed(sdeUSD, address(curveFeed));
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}
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function test_6Decimals_underlying_asset_Feed_returns_18() public {
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mock6Decimals = new ERC20Mock("Mock6", "M6", 6);
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mock6Vault = new Mock4626(IERC20(address(mock6Decimals)));
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assertEq(mock6Vault.decimals(), 18);
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feed6Decimals = new ERC4626Feed(
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address(mock6Vault),
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address(curveFeed)
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);
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uint256 amount = 10000e6;
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assertEq(feed6Decimals.decimals(), 18);
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assertEq(feed6Decimals.assetScale(), 1e6);
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mock6Decimals.mint(address(this), amount);
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mock6Decimals.approve(address(mock6Vault), amount);
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mock6Vault.deposit(amount, address(this));
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assertEq(mock6Vault.convertToAssets(1e18), 1e6);
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assertEq(mock6Vault.previewRedeem(1e18), 1e6);
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assertEq(mock6Vault.convertToShares(1e6), 1e18);
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assertEq(mock6Vault.previewDeposit(1e6), 1e18);
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uint256 sdeUSDNormalizedToDola = ICurvePool(curvePool).price_oracle(
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curveFeed.assetOrTargetK()
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);
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int256 dolaToUsdPrice = curveFeed.assetToUsd().latestAnswer();
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int256 sdeUSDNormalizedToUsdPrice = int256(
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(sdeUSDNormalizedToDola * uint(dolaToUsdPrice)) / 1e18
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);
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uint256 sdeUSDToDeUSDRate = mock6Vault.previewRedeem(1e18);
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uint256 price = (uint(sdeUSDNormalizedToUsdPrice) * sdeUSDToDeUSDRate) /
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1e6;
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assertEq(feed6Decimals.latestAnswer(), int256(price));
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}
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function test_decimals() public {
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assertEq(feed.decimals(), 18);
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assertEq(feed.assetScale(), 1e18);
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}
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function test_description() public {
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assertEq(feed.description(), "sdeUSD / USD using sdeUSD vault rate");
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}
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function test_latestRoundData() public {
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(
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uint80 roundId,
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int256 sdeUSDToUsdPrice,
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uint256 startedAt,
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uint256 updatedAt,
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uint80 answeredInRound
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) = feed.latestRoundData();
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assertEq(feed.latestAnswer(), _calculateSdeUSDPrice());
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(
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uint80 roundId2,
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,
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uint256 startedAt2,
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uint256 updatedAt2,
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uint80 answeredInRound2
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) = IChainlinkBasePriceFeed(dolaFeed).latestRoundData();
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// Data are
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assertEq(roundId, roundId2);
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assertEq(sdeUSDToUsdPrice, _calculateSdeUSDPrice());
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assertEq(startedAt, startedAt2);
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assertEq(updatedAt, updatedAt2);
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assertEq(answeredInRound, answeredInRound2);
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}
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function test_sdeUSD_upward_depeg() public {
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int256 answer = feed.latestAnswer();
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assertEq(feed.latestAnswer(), _calculateSdeUSDPrice());
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uint256 mockRate = 2e18;
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_mockVaultRate(sdeUSD, mockRate);
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assertEq(feed.latestAnswer(), _calculateSdeUSDPrice());
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assertGt(feed.latestAnswer(), answer);
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}
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function test_sdeUSD_downward_depeg() public {
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int256 answer = feed.latestAnswer();
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assertEq(feed.latestAnswer(), _calculateSdeUSDPrice());
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uint256 mockRate = 0.5e18;
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_mockVaultRate(sdeUSD, mockRate);
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assertEq(feed.latestAnswer(), _calculateSdeUSDPrice());
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assertLt(feed.latestAnswer(), answer);
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}
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function test_previewRedeemRevert_useConvertToAssets() public {
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// Mock preview redeem rate
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_mockVaultRate(sdeUSD, 2e18);
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// Answer is equal to preview redeem rate but not equal to convert to assets
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assertEq(feed.latestAnswer(), _calculateSdeUSDPrice());
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assertGt(feed.latestAnswer(), _calculateSdeUSDPriceConvertToAssets());
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// Mock preview redeem revert to use convert to assets
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_mockPreviewRevert(sdeUSD);
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assertEq(feed.latestAnswer(), _calculateSdeUSDPriceConvertToAssets());
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}
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function _calculateSdeUSDPrice() internal view returns (int256) {
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uint256 sdeUSDNormalizedToDola = ICurvePool(curvePool).price_oracle(
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curveFeed.assetOrTargetK()
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);
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int256 dolaToUsdPrice = curveFeed.assetToUsd().latestAnswer();
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int256 sdeUSDNormalizedToUsdPrice = int256(
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(sdeUSDNormalizedToDola * uint(dolaToUsdPrice)) / 1e18
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);
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uint256 sdeUSDToDeUSDRate = IERC4626(sdeUSD).previewRedeem(1e18);
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return
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(sdeUSDNormalizedToUsdPrice * int(sdeUSDToDeUSDRate)) /
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int256(1e18);
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}
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function _calculateSdeUSDPriceConvertToAssets()
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internal
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view
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returns (int256)
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{
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uint256 sdeUSDNormalizedToDola = ICurvePool(curvePool).price_oracle(
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curveFeed.assetOrTargetK()
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);
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int256 dolaToUsdPrice = curveFeed.assetToUsd().latestAnswer();
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int256 sdeUSDNormalizedToUsdPrice = int256(
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(sdeUSDNormalizedToDola * uint(dolaToUsdPrice)) / 1e18
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);
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uint256 sdeUSDToDeUSDRate = IERC4626(sdeUSD).convertToAssets(1e18);
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return
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(sdeUSDNormalizedToUsdPrice * int(sdeUSDToDeUSDRate)) /
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int256(1e18);
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}
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function _mockVaultRate(address vault, uint256 mockRate) internal {
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vm.mockCall(
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vault,
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abi.encodeWithSelector(IERC4626.previewRedeem.selector, 1e18),
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abi.encode(mockRate)
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);
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}
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function _mockPreviewRevert(address vault) internal {
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vm.mockCallRevert(
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vault,
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abi.encodeWithSelector(IERC4626.previewRedeem.selector, 1e18),
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"mock revert"
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);
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}
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}

‎test/marketForkTests/SdeUSDMarketForkTest.t.sol‎

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// SPDX-License-Identifier: UNLICENSED
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pragma solidity ^0.8.13;
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import "forge-std/Test.sol";
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import "./MarketBaseForkTest.sol";
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import "src/feeds/ERC4626Feed.sol";
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import "src/Market.sol";
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import {ChainlinkCurveFeed} from "src/feeds/ChainlinkCurveFeed.sol";
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contract SdeUSDMarketForkTest is MarketBaseForkTest {
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address curvePool = address(0x82202CAEC5E6d85014eADC68D4912F3C90093e7C);
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uint256 k = 0;
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uint256 targetIndex = 1;
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address sdeUSD = address(0x5C5b196aBE0d54485975D1Ec29617D42D9198326);
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address dolaFeed = address(0x6255981e2a1EBeA600aFC506185590eD383517be);
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function setUp() public virtual {
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//This will fail if there's no mainnet variable in foundry.toml
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string memory url = vm.rpcUrl("mainnet");
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vm.createSelectFork(url, 21880783);
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address curveFeed = address(
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new ChainlinkCurveFeed(dolaFeed, curvePool, k, targetIndex)
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);
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address feedAddr = address(new ERC4626Feed(sdeUSD, curveFeed));
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address marketAddr = address(
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new Market(
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gov,
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lender,
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pauseGuardian,
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simpleERC20EscrowAddr,
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IDolaBorrowingRights(dbrAddr),
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IERC20(sdeUSD),
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IOracle(oracleAddr),
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5000,
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1000,
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1000,
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false
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)
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);
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_advancedInit(marketAddr, feedAddr, false);
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}
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}

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