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Merge pull request #179 from MZero-Labs/feat/fee-events
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feat: split fee events
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@deluca-mike
deluca-mike authored Apr 23, 2024
2 parents 58e0ccc + 45d0e6c commit 524de09
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Showing 5 changed files with 106 additions and 247 deletions.
2 changes: 2 additions & 0 deletions src/MToken.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -25,6 +25,8 @@ import { ContinuousIndexingMath } from "./libs/ContinuousIndexingMath.sol";
██║ ╚═╝ ██║ ██║ ╚██████╔╝██║ ██╗███████╗██║ ╚████║
╚═╝ ╚═╝ ╚═╝ ╚═════╝ ╚═╝ ╚═╝╚══════╝╚═╝ ╚═══╝
-->> M is for Money. <<--
*/

/**
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101 changes: 39 additions & 62 deletions src/MinterGateway.sol
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Expand Up @@ -26,6 +26,8 @@ import { ContinuousIndexingMath } from "./libs/ContinuousIndexingMath.sol";
██║ ╚═╝ ██║██║██║ ╚████║ ██║ ███████╗██║ ██║ ╚██████╔╝██║ ██║ ██║ ███████╗╚███╔███╔╝██║ ██║ ██║
╚═╝ ╚═╝╚═╝╚═╝ ╚═══╝ ╚═╝ ╚══════╝╚═╝ ╚═╝ ╚═════╝ ╚═╝ ╚═╝ ╚═╝ ╚══════╝ ╚══╝╚══╝ ╚═╝ ╚═╝ ╚═╝
-->> Where money is born. <<--
*/

/**
Expand Down Expand Up @@ -410,19 +412,15 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {
function deactivateMinter(address minter_) external onlyActiveMinter(minter_) returns (uint240 inactiveOwedM_) {
if (isMinterApproved(minter_)) revert StillApprovedMinter();

uint112 principalOfActiveOwedM_ = principalOfActiveOwedMOf(minter_);
_imposePenaltyIfMissedCollateralUpdates(minter_);

unchecked {
// As an edge case precaution, if the resulting principal plus penalties is greater than the max uint112,
// then max out the principal.
uint112 newPrincipalOfOwedM_ = UIntMath.bound112(
uint256(principalOfActiveOwedM_) + _getPenaltyPrincipalForMissedCollateralUpdates(minter_)
);
uint112 principalOfOwedM_ = principalOfActiveOwedMOf(minter_);

inactiveOwedM_ = _getPresentAmount(newPrincipalOfOwedM_);
inactiveOwedM_ = _getPresentAmount(principalOfOwedM_);

unchecked {
// Treat rawOwedM as principal since minter is active.
principalOfTotalActiveOwedM -= principalOfActiveOwedM_;
principalOfTotalActiveOwedM -= principalOfOwedM_;
totalInactiveOwedM += inactiveOwedM_;
}

Expand Down Expand Up @@ -605,13 +603,6 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {
return _lastSignatureTimestamp[minter_][validator_];
}

/// @inheritdoc IMinterGateway
function getPenaltyForMissedCollateralUpdates(address minter_) external view returns (uint240) {
uint112 penaltyPrincipal_ = _getPenaltyPrincipalForMissedCollateralUpdates(minter_);

return (penaltyPrincipal_ == 0) ? 0 : _getPresentAmount(penaltyPrincipal_);
}

/// @inheritdoc IMinterGateway
function getUpdateCollateralDigest(
address minter_,
Expand Down Expand Up @@ -729,16 +720,17 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {
/* ============ Internal Interactive Functions ============ */

/**
* @dev Imposes penalty on an active minter. Calling this for an inactive minter will break accounting.
* @param minter_ The address of the minter.
* @param principalOfPenaltyBase_ The principal of the base for penalization.
* @dev Imposes penalty on an active minter. Calling this for an inactive minter will break accounting.
* @param minter_ The address of the minter.
* @param principalOfPenaltyBase_ The principal of the base for penalization.
* @return The principal of the imposed penalty.
*/
function _imposePenalty(address minter_, uint152 principalOfPenaltyBase_) internal {
if (principalOfPenaltyBase_ == 0) return;
function _imposePenalty(address minter_, uint152 principalOfPenaltyBase_) internal returns (uint112) {
if (principalOfPenaltyBase_ == 0) return 0;

uint32 penaltyRate_ = penaltyRate();

if (penaltyRate_ == 0) return;
if (penaltyRate_ == 0) return 0;

unchecked {
uint256 penaltyPrincipal_ = (uint256(principalOfPenaltyBase_) * penaltyRate_) / ONE;
Expand All @@ -757,7 +749,7 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {

_rawOwedM[minter_] += uint112(penaltyPrincipal_); // Treat rawOwedM as principal since minter is active.

emit PenaltyImposed(minter_, uint112(penaltyPrincipal_), _getPresentAmount(uint112(penaltyPrincipal_)));
return uint112(penaltyPrincipal_);
}
}

Expand All @@ -783,7 +775,11 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {

if (principalOfActiveOwedM_ == 0) return;

_imposePenalty(minter_, uint152(principalOfActiveOwedM_) * missedIntervals_);
uint112 penaltyPrincipal_ = _imposePenalty(minter_, uint152(principalOfActiveOwedM_) * missedIntervals_);

if (penaltyPrincipal_ == 0) return;

emit MissedIntervalsPenaltyImposed(minter_, missedIntervals_, _getPresentAmount(penaltyPrincipal_));
}

/**
Expand Down Expand Up @@ -815,16 +811,28 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {
if (newTimestamp_ <= penalizeFrom_) return;

unchecked {
uint40 timeSpan_ = newTimestamp_ - penalizeFrom_;

uint112 principalOfExcessOwedM_ = principalOfActiveOwedM_ - principalOfMaxAllowedActiveOwedM_;

// NOTE: `newTimestamp_ - penalizeFrom_` will never be larger than `updateCollateralInterval_` since this
// function is only called after `_imposePenaltyIfMissedCollateralUpdates`, which ensures that the
// `penalizedUntilTimestamp` is within one `updateCollateralInterval_` of the `newTimestamp_`.
//
// NOTE: `updateCollateralInterval()` never equals 0, so the division is safe.
// Its minimum is capped at `MIN_UPDATE_COLLATERAL_INTERVAL`.
_imposePenalty(
uint112 penaltyPrincipal_ = _imposePenalty(
minter_,
(principalOfExcessOwedM_ * timeSpan_) / updateCollateralInterval()
);

if (penaltyPrincipal_ == 0) return;

emit UndercollateralizedPenaltyImposed(
minter_,
((principalOfActiveOwedM_ - principalOfMaxAllowedActiveOwedM_) * (newTimestamp_ - penalizeFrom_)) /
updateCollateralInterval()
_getPresentAmount(principalOfExcessOwedM_),
timeSpan_,
_getPresentAmount(penaltyPrincipal_)
);
}
}
Expand Down Expand Up @@ -917,17 +925,16 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {
// - the last update timestamp,
// - the latest proposed retrieval timestamp, and
// - the current timestamp minus the update collateral interval.
uint40 earliestAllowedTimestamp_;
unchecked {
// NOTE: Cannot underflow since `min40` is applied when `updateCollateralInterval()` > `block.timestamp`.
earliestAllowedTimestamp_ = UIntMath.max40(
uint40 earliestAllowedTimestamp_ = UIntMath.max40(
UIntMath.max40(minterState_.updateTimestamp, minterState_.latestProposedRetrievalTimestamp),
uint40(block.timestamp) - UIntMath.min40(updateCollateralInterval(), uint40(block.timestamp))
);
}

if (newTimestamp_ <= earliestAllowedTimestamp_) {
revert StaleCollateralUpdate(newTimestamp_, earliestAllowedTimestamp_);
if (newTimestamp_ <= earliestAllowedTimestamp_) {
revert StaleCollateralUpdate(newTimestamp_, earliestAllowedTimestamp_);
}
}

minterState_.collateral = amount_;
Expand Down Expand Up @@ -969,36 +976,6 @@ contract MinterGateway is IMinterGateway, ContinuousIndexing, ERC712Extended {
}
}

/**
* @dev Returns the principal penalization base for a minter's missed collateral updates.
* @param minter_ The address of the minter.
* @return The penalty principal.
*/
function _getPenaltyPrincipalForMissedCollateralUpdates(address minter_) internal view returns (uint112) {
uint112 principalOfActiveOwedM_ = principalOfActiveOwedMOf(minter_);

if (principalOfActiveOwedM_ == 0) return 0;

uint32 penaltyRate_ = penaltyRate();

if (penaltyRate_ == 0) return 0;

MinterState storage minterState_ = _minterStates[minter_];

(uint40 missedIntervals_, ) = _getMissedCollateralUpdateParameters(
minterState_.updateTimestamp,
minterState_.penalizedUntilTimestamp,
updateCollateralInterval()
);

if (missedIntervals_ == 0) return 0;

unchecked {
// As an edge case precaution, cap the penalty principal to type(uint112).max.
return UIntMath.bound112((uint256(principalOfActiveOwedM_) * missedIntervals_ * penaltyRate_) / ONE);
}
}

/**
* @dev Returns the present amount (rounded up) given the principal amount, using the current index.
* All present amounts are rounded up in favor of the protocol, since they are owed.
Expand Down
25 changes: 18 additions & 7 deletions src/interfaces/IMinterGateway.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -96,12 +96,26 @@ interface IMinterGateway is IContinuousIndexing, IERC712 {
event MintProposed(uint48 indexed mintId, address indexed minter, uint240 amount, address indexed destination);

/**
* @notice Emitted when penalty is imposed on minter.
* @notice Emitted when a penalty is imposed on `minter` for missed update collateral intervals.
* @param minter The address of the minter.
* @param principalAmount The principal amount of penalty charge.
* @param amount The present amount of penalty charge.
* @param missedIntervals The number of update intervals missed.
* @param penaltyAmount The present amount of penalty charge.
*/
event PenaltyImposed(address indexed minter, uint112 principalAmount, uint240 amount);
event MissedIntervalsPenaltyImposed(address indexed minter, uint40 missedIntervals, uint240 penaltyAmount);

/**
* @notice Emitted when a penalty is imposed on `minter` for undercollateralization.
* @param minter The address of the minter.
* @param excessOwedM The present amount of owed M in excess of allowed owed M.
* @param timeSpan The span of time over which the undercollateralization penalty was applied.
* @param penaltyAmount The present amount of penalty charge.
*/
event UndercollateralizedPenaltyImposed(
address indexed minter,
uint240 excessOwedM,
uint40 timeSpan,
uint240 penaltyAmount
);

/**
* @notice Emitted when a collateral retrieval proposal is created.
Expand Down Expand Up @@ -379,9 +393,6 @@ interface IMinterGateway is IContinuousIndexing, IERC712 {
*/
function getLastSignatureTimestamp(address minter, address validator) external view returns (uint256);

/// @notice The penalty for missed collateral updates. Penalized once per missed interval.
function getPenaltyForMissedCollateralUpdates(address minter) external view returns (uint240);

/**
* @notice Returns the EIP-712 digest for updateCollateral method.
* @param minter The address of the minter.
Expand Down
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