TRUST M-8: Reward distribution in RewardableERC20

.github/workflows/tests.yml

@@ -22,7 +22,6 @@ jobs:
       - run: yarn devchain &
         env:
           MAINNET_RPC_URL: https://mainnet.infura.io/v3/9aa3d95b3bc440fa88ea12eaa4456161
-          FORK_BLOCK: 18329921
           FORK_NETWORK: mainnet
       - run: yarn deploy:run --network localhost
         env:

CHANGELOG.md

@@ -1,5 +1,31 @@
 # Changelog
 
+# 3.1.0 - Unreleased
+
+### Upgrade Steps -- Required
+
+Upgrade all core contracts and _all_ assets. ERC20s do not need to be upgraded. Use `Deployer.deployRTokenAsset()` to create a new `RTokenAsset` instance. This asset should be swapped too.
+
+Then, call `Broker.cacheComponents()`.
+
+### Core Protocol Contracts
+
+- `BackingManager`
+  - Replace use of `lotPrice()` with `price()`
+- `BasketHandler`
+  - Remove `lotPrice()`
+- `Broker` [+1 slot]
+  - Disallow starting dutch trades with non-RTokenAsset assets when `lastSave() != block.timestamp`
+- `Furnace`
+  - Allow melting while frozen
+
+## Plugins
+
+### Assets
+
+- Remove `lotPrice()`
+- Alter `price().high` to decay upwards to 3x over the price timeout
+
 # 3.0.1
 
 ### Upgrade steps
@@ -8,6 +34,8 @@ Update `BackingManager`, both `RevenueTraders` (rTokenTrader/rsrTrader), and cal
 
 # 3.0.0
 
+Bump solidity version to 0.8.19
+
 ### Upgrade Steps
 
 #### Required Steps
@@ -38,9 +66,7 @@ It is acceptable to leave these function calls out of the initial upgrade tx and
 ### Core Protocol Contracts
 
 - `AssetRegistry` [+1 slot]
-  Summary: StRSR contract need to know when refresh() was last called
-  - # Add last refresh timestamp tracking and expose via `lastRefresh()` getter
-    Summary: Other component contracts need to know when refresh() was last called
+  Summary: Other component contracts need to know when refresh() was last called
   - Add `lastRefresh()` timestamp getter
   - Add `size()` getter for number of registered assets
   - Require asset is SOUND on registration
@@ -180,10 +206,10 @@ Remove `FacadeMonitor` - now redundant with `nextRecollateralizationAuction()` a
 - `FacadeRead`
   Summary: Add new data summary views frontends may be interested in
 
-  - Remove `basketNonce` from `redeem(.., uint48 basketNonce)`
-  - Add `redeemCustom(.., uint48[] memory basketNonces, uint192[] memory portions)` callstatic to simulate multi-basket redemptions
-  - Remove `traderBalances(..)`
-  - Add `balancesAcrossAllTraders(IBackingManager) returns (IERC20[] memory erc20s, uint256[] memory balances, uint256[] memory balancesNeededByBackingManager)`
+- Remove `basketNonce` from `redeem(.., uint48 basketNonce)`
+- Add `redeemCustom(.., uint48[] memory basketNonces, uint192[] memory portions)` callstatic to simulate multi-basket redemptions
+- Remove `traderBalances(..)`
+- Add `balancesAcrossAllTraders(IBackingManager) returns (IERC20[] memory erc20s, uint256[] memory balances, uint256[] memory balancesNeededByBackingManager)`
 
 - `FacadeWrite`
   Summary: More expressive and fine-grained control over the set of pausers and freezers

README.md

@@ -22,6 +22,7 @@ For a much more detailed explanation of the economic design, including an hour-l
   - [Testing with Echidna](https://github.com/reserve-protocol/protocol/blob/master/docs/using-echidna.md): Notes so far on setup and usage of Echidna (which is decidedly an integration-in-progress!)
   - [Deployment](https://github.com/reserve-protocol/protocol/blob/master/docs/deployment.md): How to do test deployments in our environment.
 - [System Design](https://github.com/reserve-protocol/protocol/blob/master/docs/system-design.md): The overall architecture of our system, and some detailed descriptions about what our protocol is _intended_ to do.
+- [Pause and Freeze States](https://github.com/reserve-protocol/protocol/blob/master/docs/pause-freeze-states.md): An overview of which protocol functions are halted in the paused and frozen states.
 - [Deployment Variables](https://github.com/reserve-protocol/protocol/blob/master/docs/deployment-variables.md) A detailed description of the governance variables of the protocol.
 - [Our Solidity Style](https://github.com/reserve-protocol/protocol/blob/master/docs/solidity-style.md): Common practices, details, and conventions relevant to reading and writing our Solidity source code, estpecially where those go beyond standard practice.
 - [Writing Collateral Plugins](https://github.com/reserve-protocol/protocol/blob/master/docs/collateral.md): An overview of how to develop collateral plugins and the concepts / questions involved.

common/configuration.ts

@@ -675,7 +675,7 @@ export const MAX_THROTTLE_PCT_RATE = BigNumber.from(10).pow(18)
 export const GNOSIS_MAX_TOKENS = BigNumber.from(7).mul(BigNumber.from(10).pow(28))
 
 // Timestamps
-export const MAX_ORACLE_TIMEOUT = BigNumber.from(2).pow(48).sub(1)
+export const MAX_ORACLE_TIMEOUT = BigNumber.from(2).pow(48).sub(1).sub(300)
 export const MAX_TRADING_DELAY = 31536000 // 1 year
 export const MIN_WARMUP_PERIOD = 60 // 1 minute
 export const MAX_WARMUP_PERIOD = 31536000 // 1 year

contracts/facade/FacadeAct.sol

@@ -116,11 +116,11 @@ contract FacadeAct is IFacadeAct, Multicall {
             }
 
             surpluses[i] = erc20s[i].balanceOf(address(revenueTrader));
-            (uint192 lotLow, ) = reg.assets[i].lotPrice(); // {UoA/tok}
-            if (lotLow == 0) continue;
+            (uint192 low, ) = reg.assets[i].price(); // {UoA/tok}
+            if (low == 0) continue;
 
             // {qTok} = {UoA} / {UoA/tok}
-            minTradeAmounts[i] = minTradeVolume.safeDiv(lotLow, FLOOR).shiftl_toUint(
+            minTradeAmounts[i] = minTradeVolume.safeDiv(low, FLOOR).shiftl_toUint(
                 int8(reg.assets[i].erc20Decimals())
             );
 

contracts/facade/FacadeRead.sol

@@ -33,7 +33,6 @@ contract FacadeRead is IFacadeRead {
 
         // Poke Main
         main.assetRegistry().refresh();
-        main.furnace().melt();
 
         // {BU}
         BasketRange memory basketsHeld = main.basketHandler().basketsHeldBy(account);
@@ -74,7 +73,6 @@ contract FacadeRead is IFacadeRead {
 
         // Poke Main
         reg.refresh();
-        main.furnace().melt();
 
         // Compute # of baskets to create `amount` qRTok
         uint192 baskets = (rTok.totalSupply() > 0) // {BU}
@@ -120,7 +118,6 @@ contract FacadeRead is IFacadeRead {
 
         // Poke Main
         main.assetRegistry().refresh();
-        main.furnace().melt();
 
         uint256 supply = rTok.totalSupply();
 
@@ -202,7 +199,7 @@ contract FacadeRead is IFacadeRead {
         IBasketHandler basketHandler = rToken.main().basketHandler();
 
         // solhint-disable-next-line no-empty-blocks
-        try rToken.main().furnace().melt() {} catch {}
+        try rToken.main().furnace().melt() {} catch {} // <3.1.0 RTokens may revert while frozen
 
         (erc20s, deposits) = basketHandler.quote(FIX_ONE, CEIL);
 
@@ -241,7 +238,6 @@ contract FacadeRead is IFacadeRead {
     {
         IMain main = rToken.main();
         main.assetRegistry().refresh();
-        main.furnace().melt();
 
         erc20s = main.assetRegistry().erc20s();
         balances = new uint256[](erc20s.length);

contracts/facade/FacadeTest.sol

@@ -66,6 +66,7 @@ contract FacadeTest is IFacadeTest {
             erc20s
         );
         try main.rsrTrader().manageTokens(rsrERC20s, rsrKinds) {} catch {}
+        try main.rsrTrader().distributeTokenToBuy() {} catch {}
 
         // Start exact RToken auctions
         (IERC20[] memory rTokenERC20s, TradeKind[] memory rTokenKinds) = traderERC20s(
@@ -74,6 +75,7 @@ contract FacadeTest is IFacadeTest {
             erc20s
         );
         try main.rTokenTrader().manageTokens(rTokenERC20s, rTokenKinds) {} catch {}
+        try main.rTokenTrader().distributeTokenToBuy() {} catch {}
         // solhint-enable no-empty-blocks
     }
 
@@ -97,7 +99,6 @@ contract FacadeTest is IFacadeTest {
 
         // Poke Main
         reg.refresh();
-        main.furnace().melt();
 
         address backingManager = address(main.backingManager());
         IERC20 rsr = main.rsr();
@@ -134,6 +135,7 @@ contract FacadeTest is IFacadeTest {
         IERC20[] memory traderERC20sAll = new IERC20[](erc20sAll.length);
         for (uint256 i = 0; i < erc20sAll.length; ++i) {
             if (
+                erc20sAll[i] != trader.tokenToBuy() &&
                 address(trader.trades(erc20sAll[i])) == address(0) &&
                 erc20sAll[i].balanceOf(address(trader)) > 1
             ) {

contracts/interfaces/IAsset.sol

@@ -27,16 +27,11 @@ interface IAsset is IRewardable {
     function refresh() external;
 
     /// Should not revert
+    /// low should be nonzero if the asset could be worth selling
     /// @return low {UoA/tok} The lower end of the price estimate
     /// @return high {UoA/tok} The upper end of the price estimate
     function price() external view returns (uint192 low, uint192 high);
 
-    /// Should not revert
-    /// lotLow should be nonzero when the asset might be worth selling
-    /// @return lotLow {UoA/tok} The lower end of the lot price estimate
-    /// @return lotHigh {UoA/tok} The upper end of the lot price estimate
-    function lotPrice() external view returns (uint192 lotLow, uint192 lotHigh);
-
     /// @return {tok} The balance of the ERC20 in whole tokens
     function bal(address account) external view returns (uint192);
 
@@ -67,8 +62,14 @@ interface TestIAsset is IAsset {
     /// @return {s} Seconds that an oracle value is considered valid
     function oracleTimeout() external view returns (uint48);
 
-    /// @return {s} Seconds that the lotPrice should decay over, after stale price
+    /// @return {s} Seconds that the price().low should decay over, after stale price
     function priceTimeout() external view returns (uint48);
+
+    /// @return {UoA/tok} The last saved low price
+    function savedLowPrice() external view returns (uint192);
+
+    /// @return {UoA/tok} The last saved high price
+    function savedHighPrice() external view returns (uint192);
 }
 
 /// CollateralStatus must obey a linear ordering. That is:

contracts/interfaces/IAssetRegistry.sol

@@ -34,7 +34,7 @@ interface IAssetRegistry is IComponent {
     function init(IMain main_, IAsset[] memory assets_) external;
 
     /// Fully refresh all asset state
-    /// @custom:interaction
+    /// @custom:refresher
     function refresh() external;
 
     /// Register `asset`

contracts/interfaces/IBasketHandler.sol

@@ -133,16 +133,11 @@ interface IBasketHandler is IComponent {
     function basketsHeldBy(address account) external view returns (BasketRange memory);
 
     /// Should not revert
+    /// low should be nonzero when BUs are worth selling
     /// @return low {UoA/BU} The lower end of the price estimate
     /// @return high {UoA/BU} The upper end of the price estimate
     function price() external view returns (uint192 low, uint192 high);
 
-    /// Should not revert
-    /// lotLow should be nonzero if a BU could be worth selling
-    /// @return lotLow {UoA/tok} The lower end of the lot price estimate
-    /// @return lotHigh {UoA/tok} The upper end of the lot price estimate
-    function lotPrice() external view returns (uint192 lotLow, uint192 lotHigh);
-
     /// @return timestamp The timestamp at which the basket was last set
     function timestamp() external view returns (uint48);
 

contracts/interfaces/IBroker.sol

@@ -11,7 +11,7 @@ enum TradeKind {
     BATCH_AUCTION
 }
 
-/// Cache of all (lot) prices for a pair to prevent re-lookup
+/// Cache of all prices for a pair to prevent re-lookup
 struct TradePrices {
     uint192 sellLow; // {UoA/sellTok} can be 0
     uint192 sellHigh; // {UoA/sellTok} should not be 0

contracts/mixins/Versioned.sol

@@ -4,7 +4,7 @@ pragma solidity 0.8.19;
 import "../interfaces/IVersioned.sol";
 
 // This value should be updated on each release
-string constant VERSION = "3.0.1";
+string constant VERSION = "3.1.0";
 
 /**
  * @title Versioned

contracts/p0/BackingManager.sol

@@ -86,7 +86,6 @@ contract BackingManagerP0 is TradingP0, IBackingManager {
     /// @custom:interaction
     function rebalance(TradeKind kind) external notTradingPausedOrFrozen {
         main.assetRegistry().refresh();
-        main.furnace().melt();
 
         // DoS prevention: unless caller is self, require 1 empty block between like-kind auctions
         require(
@@ -149,7 +148,6 @@ contract BackingManagerP0 is TradingP0, IBackingManager {
         require(ArrayLib.allUnique(erc20s), "duplicate tokens");
 
         main.assetRegistry().refresh();
-        main.furnace().melt();
 
         require(tradesOpen == 0, "trade open");
         require(main.basketHandler().isReady(), "basket not ready");
@@ -166,16 +164,20 @@ contract BackingManagerP0 is TradingP0, IBackingManager {
         uint256 rsrBal = main.rsr().balanceOf(address(this));
         if (rsrBal > 0) {
             main.rsr().safeTransfer(address(main.stRSR()), rsrBal);
+            main.stRSR().payoutRewards();
         }
 
         // Mint revenue RToken
         // Keep backingBuffer worth of collateral before recognizing revenue
-        uint192 needed = main.rToken().basketsNeeded().mul(FIX_ONE.plus(backingBuffer)); // {BU}
-        if (basketsHeld.bottom.gt(needed)) {
-            main.rToken().mint(basketsHeld.bottom.minus(needed));
-            needed = main.rToken().basketsNeeded().mul(FIX_ONE.plus(backingBuffer)); // keep buffer
+        {
+            uint192 baskets = (basketsHeld.bottom.div(FIX_ONE + backingBuffer));
+            if (baskets > main.rToken().basketsNeeded()) {
+                main.rToken().mint(baskets - main.rToken().basketsNeeded());
+            }
         }
 
+        uint192 needed = main.rToken().basketsNeeded().mul(FIX_ONE.plus(backingBuffer)); // {BU}
+
         // Handout excess assets above what is needed, including any newly minted RToken
         RevenueTotals memory totals = main.distributor().totals();
         for (uint256 i = 0; i < erc20s.length; i++) {

contracts/p0/BasketHandler.sol

@@ -183,6 +183,8 @@ contract BasketHandlerP0 is ComponentP0, IBasketHandler {
         }
         emit BasketSet(nonce, basket.erc20s, refAmts, true);
         disabled = true;
+
+        trackStatus();
     }
 
     /// Switch the basket, only callable directly by governance or after a default
@@ -199,7 +201,7 @@ contract BasketHandlerP0 is ComponentP0, IBasketHandler {
 
         require(
             main.hasRole(OWNER, _msgSender()) ||
-                (status() == CollateralStatus.DISABLED && !main.tradingPausedOrFrozen()),
+                (lastStatus == CollateralStatus.DISABLED && !main.tradingPausedOrFrozen()),
             "basket unrefreshable"
         );
         _switchBasket();
@@ -368,26 +370,11 @@ contract BasketHandlerP0 is ComponentP0, IBasketHandler {
     }
 
     /// Should not revert
+    /// low should be nonzero when the asset might be worth selling
     /// @return low {UoA/BU} The lower end of the price estimate
     /// @return high {UoA/BU} The upper end of the price estimate
     // returns sum(quantity(erc20) * price(erc20) for erc20 in basket.erc20s)
     function price() external view returns (uint192 low, uint192 high) {
-        return _price(false);
-    }
-
-    /// Should not revert
-    /// lowLow should be nonzero when the asset might be worth selling
-    /// @return lotLow {UoA/BU} The lower end of the lot price estimate
-    /// @return lotHigh {UoA/BU} The upper end of the lot price estimate
-    // returns sum(quantity(erc20) * lotPrice(erc20) for erc20 in basket.erc20s)
-    function lotPrice() external view returns (uint192 lotLow, uint192 lotHigh) {
-        return _price(true);
-    }
-
-    /// Returns the price of a BU, using the lot prices if `useLotPrice` is true
-    /// @return low {UoA/BU} The lower end of the lot price estimate
-    /// @return high {UoA/BU} The upper end of the lot price estimate
-    function _price(bool useLotPrice) internal view returns (uint192 low, uint192 high) {
         IAssetRegistry reg = main.assetRegistry();
 
         uint256 low256;
@@ -397,9 +384,7 @@ contract BasketHandlerP0 is ComponentP0, IBasketHandler {
             uint192 qty = quantity(basket.erc20s[i]);
             if (qty == 0) continue;
 
-            (uint192 lowP, uint192 highP) = useLotPrice
-                ? reg.toAsset(basket.erc20s[i]).lotPrice()
-                : reg.toAsset(basket.erc20s[i]).price();
+            (uint192 lowP, uint192 highP) = reg.toAsset(basket.erc20s[i]).price();
 
             low256 += qty.safeMul(lowP, RoundingMode.FLOOR);
 

contracts/p0/Broker.sol

@@ -92,7 +92,7 @@ contract BrokerP0 is ComponentP0, IBroker {
 
     /// Disable the broker until re-enabled by governance
     /// @custom:protected
-    function reportViolation() external notTradingPausedOrFrozen {
+    function reportViolation() external {
         require(trades[_msgSender()], "unrecognized trade contract");
         ITrade trade = ITrade(_msgSender());
         TradeKind kind = trade.KIND();
@@ -239,6 +239,11 @@ contract BrokerP0 is ComponentP0, IBroker {
             "dutch auctions disabled for token pair"
         );
         require(dutchAuctionLength > 0, "dutch auctions not enabled");
+        require(
+            priceNotDecayed(req.sell) && priceNotDecayed(req.buy),
+            "dutch auctions require live prices"
+        );
+
         DutchTrade trade = DutchTrade(Clones.clone(address(dutchTradeImplementation)));
         trades[address(trade)] = true;
 
@@ -251,4 +256,10 @@ contract BrokerP0 is ComponentP0, IBroker {
         trade.init(caller, req.sell, req.buy, req.sellAmount, dutchAuctionLength, prices);
         return trade;
     }
+
+    /// @return true iff the price is not decayed, or it's the RTokenAsset
+    function priceNotDecayed(IAsset asset) private view returns (bool) {
+        return
+            asset.lastSave() == block.timestamp || address(asset.erc20()) == address(main.rToken());
+    }
 }