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LukeHackett12LukeHackett12
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Add synchronous Midas withdrawal settlement script
1 parent 6998ffd commit defb4e6

2 files changed

Lines changed: 156 additions & 2 deletions

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‎src/request/scripts/SyncMidasWithdrawal.sol‎

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// SPDX-License-Identifier: BUSL-1.1
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pragma solidity ^0.8.24;
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import {IFacilityFunds} from "../../interfaces/facility/base/IFacilityFunds.sol";
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import {IFacilityIntents} from "../../interfaces/facility/base/IFacilityIntents.sol";
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import {IFacilityPositionManager} from "../../interfaces/facility/base/IFacilityPositionManager.sol";
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import {IPositionManager} from "../../interfaces/manager/IPositionManager.sol";
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import {WithdrawalStrategy} from "../../interfaces/manager/base/IPositionManagerAdmin.sol";
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import {Asset, IntentProperties} from "../../libs/facility/LibIntent.sol";
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import {FixedPointMathLib} from "lib/solady/src/utils/FixedPointMathLib.sol";
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/// @title SyncMidasWithdrawal
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/// @notice Stateless script designed to be delegatecalled from MorphoFlashLoanRequest after a
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/// bonded Midas redeem has been unlocked for instant settlement.
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/// @dev Must NOT have any storage variables. The redeem order must already exist and its first
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/// commit must already have paid the bond. Repays enough live debt to restore the target LTV,
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/// withdraws the remaining redemption collateral, then executes second commit -> unlock;
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/// MorphoFlashLoanRequest supplies and repays the debt asset around this call.
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/// @author 3F Protocol
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contract SyncMidasWithdrawal {
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using FixedPointMathLib for uint256;
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uint256 private constant _WAD = 1e18;
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error InvalidPositionManager();
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error InvalidTargetLtv();
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error InvalidWithdrawAmount();
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error TargetLtvExceeded();
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/// @notice Restores the target LTV, settles the remaining Midas redeem, and unlocks its proceeds.
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/// @param facility The facility contract address.
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/// @param intentId The intent ID on the facility.
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/// @param withdrawAmount The remaining collateral required by the Midas redemption.
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/// @param targetLtv The maximum LTV after the withdrawal, in WAD precision.
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/// @param useTarget Whether the intent's target asset is the position manager.
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function run(address facility, uint256 intentId, uint256 withdrawAmount, uint256 targetLtv, bool useTarget) external {
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if (targetLtv >= _WAD) revert InvalidTargetLtv();
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(IntentProperties memory properties,,,) = IFacilityIntents(facility).getIntent(intentId);
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Asset memory managerAsset = useTarget ? properties.targetAsset : properties.depositAsset;
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if (!managerAsset.isPositionManager) revert InvalidPositionManager();
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IPositionManager manager = IPositionManager(managerAsset.asset);
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uint256 collateral = manager.collateralAmount();
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if (withdrawAmount == 0 || withdrawAmount > collateral) revert InvalidWithdrawAmount();
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uint256 quotedCollateral = manager.collateralAmountQuoted();
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uint256 quotedWithdrawal = quotedCollateral.mulDivUp(withdrawAmount, collateral);
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uint256 targetDebt = (quotedCollateral - quotedWithdrawal).mulDiv(targetLtv, _WAD);
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uint256 liveDebt = manager.debtAmount();
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uint256 repayAmount = liveDebt > targetDebt ? liveDebt - targetDebt : 0;
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IFacilityPositionManager(facility)
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.withdrawManager(intentId, withdrawAmount, repayAmount, useTarget, WithdrawalStrategy.PROPORTIONAL);
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// A partial withdrawal queue can remove more quoted value than the aggregate estimate.
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if (manager.debtAmount() > manager.collateralAmountQuoted().mulDiv(targetLtv, _WAD)) revert TargetLtvExceeded();
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IFacilityFunds(facility).commit(intentId);
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IFacilityFunds(facility).unlock(intentId);
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}
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}

‎test/request/MorphoFlashLoanRequest.t.sol‎

Lines changed: 95 additions & 2 deletions
Original file line numberDiff line numberDiff line change
@@ -4,6 +4,7 @@ pragma solidity ^0.8.24;
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import {FacilityBaseTest} from "test/facility/FacilityBase.t.sol";
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import {MorphoFlashLoanRequest} from "src/request/MorphoFlashLoanRequest.sol";
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import {MorphoFlashLoanRequestFactory} from "src/request/MorphoFlashLoanRequestFactory.sol";
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import {SyncMidasWithdrawal} from "src/request/scripts/SyncMidasWithdrawal.sol";
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import {SyncDeposit} from "src/request/scripts/SyncDeposit.sol";
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import {SyncWithdrawal} from "src/request/scripts/SyncWithdrawal.sol";
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import {SyncAllocatorDeposit} from "src/request/scripts/SyncAllocatorDeposit.sol";
@@ -12,6 +13,7 @@ import {MockMorphoAllocator} from "test/mock/request/MockMorphoAllocator.sol";
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import {Offer} from "src/interfaces/request/IOfferReceiver.sol";
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import {LibCommonErrors} from "src/libs/common/LibCommonErrors.sol";
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import {MockERC20} from "test/mock/MockERC20.sol";
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import {MockBorrowPosition} from "test/mock/borrow/MockBorrowPosition.sol";
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import {Mode, State} from "src/libs/funds/Order.sol";
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import {IntentProperties, Asset} from "src/libs/facility/LibIntent.sol";
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import {WithdrawalStrategy} from "src/interfaces/manager/base/IPositionManagerAdmin.sol";
@@ -105,6 +107,7 @@ contract MorphoFlashLoanRequestTest is FacilityBaseTest {
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MorphoFlashLoanRequest public flashLoanRequest;
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MockScript public mockScript;
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SyncDeposit public syncDeposit;
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SyncMidasWithdrawal public syncMidasWithdrawal;
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SyncWithdrawal public syncWithdrawal;
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SyncAllocatorDeposit public syncAllocatorDeposit;
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MockMorphoAllocator public mockAllocator;
@@ -141,6 +144,12 @@ contract MorphoFlashLoanRequestTest is FacilityBaseTest {
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vm.prank(owner);
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flashLoanRequest.setScript(address(syncDeposit), true);
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// Deploy and whitelist SyncMidasWithdrawal
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syncMidasWithdrawal = new SyncMidasWithdrawal();
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vm.label(address(syncMidasWithdrawal), "SyncMidasWithdrawal");
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vm.prank(owner);
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flashLoanRequest.setScript(address(syncMidasWithdrawal), true);
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// Deploy and whitelist SyncWithdrawal
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syncWithdrawal = new SyncWithdrawal();
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vm.label(address(syncWithdrawal), "SyncWithdrawal");
@@ -908,8 +917,8 @@ contract MorphoFlashLoanRequestTest is FacilityBaseTest {
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.execute(
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actualDebtBorrowed,
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MorphoFlashLoanRequest.SetRequestParams({
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intentId: syncIntentId, deadline: block.timestamp + 2 hours, signers: signers, signatures: sigs
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}),
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intentId: syncIntentId, deadline: block.timestamp + 2 hours, signers: signers, signatures: sigs
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}),
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address(syncWithdrawal),
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withdrawPayload
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);
@@ -937,6 +946,90 @@ contract MorphoFlashLoanRequestTest is FacilityBaseTest {
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assertEq(collateralToken.balanceOf(address(facility)), 0);
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}
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function test_execute_syncMidasWithdrawalCommitUnlock() public {
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uint256 morphoBalBefore = debtToken.balanceOf(address(morpho));
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vm.prank(facilitator);
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facility.depositManager(intentId, 0, 5_000e18, false);
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// A price drop makes the live LTV exceed the requested 50% target.
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oracle.setPrice(0.9e36);
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uint256 withdrawAmount = 1_000e18;
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uint256 repayAmount = 950e18; // 5,000 - (10,000 - 1,000) * 0.9 * 0.5
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vm.prank(facilitator);
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_setFund(intentId, address(mockFund));
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// MockFund represents the remaining redemption at the script's facility boundary.
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mockFund.setNextCommitState(State.UNLOCKING);
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mockFund.setUnlockAmount(withdrawAmount);
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debtToken.setBalance(address(mockFund), withdrawAmount);
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vm.prank(facilitator);
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facility.create(intentId, withdrawAmount, withdrawAmount, Mode.REDEEM);
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vm.prank(executor);
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flashLoanRequest.execute(
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repayAmount,
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_buildSetRequestParams(intentId, block.timestamp + 1 hours),
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address(syncMidasWithdrawal),
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abi.encodeCall(SyncMidasWithdrawal.run, (address(facility), intentId, withdrawAmount, 0.5e18, false))
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);
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assertEq(positionManager.collateralAmount(), 9_000e18);
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assertEq(positionManager.debtAmount(), 4_050e18);
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assertEq(positionManager.debtAmount() * 1e18 / positionManager.collateralAmountQuoted(), 0.5e18);
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assertEq(collateralToken.balanceOf(address(mockFund)), withdrawAmount);
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assertEq(collateralToken.balanceOf(address(facility)), 0);
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assertEq(debtToken.balanceOf(address(facility)), 5_050e18);
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assertEq(debtToken.balanceOf(address(morpho)), morphoBalBefore - 4_050e18);
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assertEq(debtToken.balanceOf(address(flashLoanRequest)), 0);
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(, address fund, address request,) = facility.getIntent(intentId);
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assertEq(fund, address(0));
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assertEq(request, address(0));
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}
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function test_syncMidasWithdrawal_rejectsInvalidParameters() public {
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vm.expectRevert(SyncMidasWithdrawal.InvalidTargetLtv.selector);
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syncMidasWithdrawal.run(address(facility), intentId, 1, 1e18, false);
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vm.expectRevert(SyncMidasWithdrawal.InvalidPositionManager.selector);
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syncMidasWithdrawal.run(address(facility), intentId, 1, 0.5e18, true);
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vm.expectRevert(SyncMidasWithdrawal.InvalidWithdrawAmount.selector);
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syncMidasWithdrawal.run(address(facility), intentId, 0, 0.5e18, false);
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uint256 tooMuch = positionManager.collateralAmount() + 1;
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vm.expectRevert(SyncMidasWithdrawal.InvalidWithdrawAmount.selector);
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syncMidasWithdrawal.run(address(facility), intentId, tooMuch, 0.5e18, false);
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}
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function test_syncMidasWithdrawal_revertsWhenPartialQueueRemovesMoreQuotedCollateral() public {
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vm.prank(facilitator);
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facility.depositManager(intentId, 0, 4_500e18, false);
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// This lower-priced module contributes to the aggregate quote but is excluded from withdrawals.
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MockBorrowPosition excluded = new MockBorrowPosition(address(collateralToken), address(debtToken));
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excluded.setTotalCollateral(10_000e18);
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excluded.setTotalCollateralQuoted(5_000e18);
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excluded.setSafeLtv(uint128(PM_LTV));
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vm.mockCall(address(excluded), abi.encodeWithSignature("owner()"), abi.encode(address(positionManager)));
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vm.prank(owner);
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positionManager.addBorrowModule(address(excluded));
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uint256 withdrawAmount = 1_000e18;
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uint256 repayAmount = 225e18; // Aggregate quote estimates 750 removed; the queued position removes 1,000.
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vm.prank(facilitator);
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_setFund(intentId, address(mockFund));
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mockFund.setNextCommitState(State.UNLOCKING);
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mockFund.setUnlockAmount(withdrawAmount);
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debtToken.setBalance(address(mockFund), withdrawAmount);
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vm.prank(facilitator);
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facility.create(intentId, withdrawAmount, withdrawAmount, Mode.REDEEM);
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vm.prank(executor);
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vm.expectRevert(SyncMidasWithdrawal.TargetLtvExceeded.selector);
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flashLoanRequest.execute(
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repayAmount,
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_buildSetRequestParams(intentId, block.timestamp + 1 hours),
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address(syncMidasWithdrawal),
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abi.encodeCall(SyncMidasWithdrawal.run, (address(facility), intentId, withdrawAmount, 0.3e18, false))
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);
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}
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/*´:°•.°+.*•´.*:˚.°*.˚•´.°:°•.°•.*•´.*:˚.°*.˚•´.°:°•.°+.*•´.*:*/
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/* I. pullFunds() TESTS */
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/*.•°:°.´+˚.*°.˚:*.´•*.+°.•°:´*.´•*.•°.•°:°.´:•˚°.*°.˚:*.´+°.•*/

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