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add role registry, consider eth amount locked for withdrawal in liqui…
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…dity pool, add tests
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@seongyun-ko
seongyun-ko committed Dec 17, 2024
1 parent 0f13953 commit 0b68310
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Showing 4 changed files with 336 additions and 35 deletions.
85 changes: 57 additions & 28 deletions src/EtherFiWithdrawalBuffer.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -20,6 +20,7 @@ import "./interfaces/IWeETH.sol";

import "lib/BucketLimiter.sol";

import "./RoleRegistry.sol";

/*
The contract allows instant redemption of eETH and weETH tokens to ETH with an exit fee.
Expand All @@ -32,6 +33,12 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU

uint256 private constant BUCKET_UNIT_SCALE = 1e12;
uint256 private constant BASIS_POINT_SCALE = 1e4;

bytes32 public constant PROTOCOL_PAUSER = keccak256("PROTOCOL_PAUSER");
bytes32 public constant PROTOCOL_UNPAUSER = keccak256("PROTOCOL_UNPAUSER");
bytes32 public constant PROTOCOL_ADMIN = keccak256("PROTOCOL_ADMIN");

RoleRegistry public immutable roleRegistry;
address public immutable treasury;
IeETH public immutable eEth;
IWeETH public immutable weEth;
Expand All @@ -45,9 +52,8 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU
receive() external payable {}

/// @custom:oz-upgrades-unsafe-allow constructor
constructor(address _liquidityPool, address _eEth, address _weEth, address _treasury) {
require(address(liquidityPool) == address(0) && address(eEth) == address(0) && address(treasury) == address(0), "EtherFiWithdrawalBuffer: Cannot initialize twice");

constructor(address _liquidityPool, address _eEth, address _weEth, address _treasury, address _roleRegistry) {
roleRegistry = RoleRegistry(_roleRegistry);
treasury = _treasury;
liquidityPool = ILiquidityPool(payable(_liquidityPool));
eEth = IeETH(_eEth);
Expand All @@ -56,13 +62,13 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU
_disableInitializers();
}

function initialize(uint16 _exitFeeSplitToTreasuryInBps, uint16 _exitFeeInBps, uint16 _lowWatermarkInBpsOfTvl) external initializer {
function initialize(uint16 _exitFeeSplitToTreasuryInBps, uint16 _exitFeeInBps, uint16 _lowWatermarkInBpsOfTvl, uint256 _bucketCapacity, uint256 _bucketRefillRate) external initializer {
__Ownable_init();
__UUPSUpgradeable_init();
__Pausable_init();
__ReentrancyGuard_init();

limit = BucketLimiter.create(0, 0);
limit = BucketLimiter.create(_convertToBucketUnit(_bucketCapacity, Math.Rounding.Down), _convertToBucketUnit(_bucketRefillRate, Math.Rounding.Down));
exitFeeSplitToTreasuryInBps = _exitFeeSplitToTreasuryInBps;
exitFeeInBps = _exitFeeInBps;
lowWatermarkInBpsOfTvl = _lowWatermarkInBpsOfTvl;
Expand All @@ -76,8 +82,8 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU
* @return The amount of ETH sent to the receiver and the exit fee amount.
*/
function redeemEEth(uint256 eEthAmount, address receiver, address owner) public whenNotPaused nonReentrant returns (uint256, uint256) {
require(canRedeem(eEthAmount), "EtherFiWithdrawalBuffer: Exceeded total redeemable amount");
require(eEthAmount <= eEth.balanceOf(owner), "EtherFiWithdrawalBuffer: Insufficient balance");
require(canRedeem(eEthAmount), "EtherFiWithdrawalBuffer: Exceeded total redeemable amount");

uint256 beforeEEthAmount = eEth.balanceOf(address(this));
IERC20(address(eEth)).safeTransferFrom(owner, address(this), eEthAmount);
Expand All @@ -97,8 +103,8 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU
function redeemWeEth(uint256 weEthAmount, address receiver, address owner) public whenNotPaused nonReentrant returns (uint256, uint256) {
uint256 eEthShares = weEthAmount;
uint256 eEthAmount = liquidityPool.amountForShare(eEthShares);
require(canRedeem(eEthAmount), "EtherFiWithdrawalBuffer: Exceeded total redeemable amount");
require(weEthAmount <= weEth.balanceOf(owner), "EtherFiWithdrawalBuffer: Insufficient balance");
require(canRedeem(eEthAmount), "EtherFiWithdrawalBuffer: Exceeded total redeemable amount");

uint256 beforeEEthAmount = eEth.balanceOf(address(this));
IERC20(address(weEth)).safeTransferFrom(owner, address(this), weEthAmount);
Expand Down Expand Up @@ -135,14 +141,14 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU
uint256 feeShareToStakers = ethShareFee - feeShareToTreasury;

// To Stakers by burning shares
eEth.burnShares(address(this), liquidityPool.sharesForAmount(feeShareToStakers));
eEth.burnShares(address(this), feeShareToStakers);

// To Treasury by transferring eETH
IERC20(address(eEth)).safeTransfer(treasury, eEthFeeAmountToTreasury);

// To Receiver by transferring ETH
payable(receiver).transfer(ethReceived);
require(address(liquidityPool).balance == prevLpBalance - ethReceived, "EtherFiWithdrawalBuffer: Transfer failed");
(bool success, ) = receiver.call{value: ethReceived, gas: 100_000}("");
require(success && address(liquidityPool).balance == prevLpBalance - ethReceived, "EtherFiWithdrawalBuffer: Transfer failed");

return (ethReceived, eEthAmountFee);
}
Expand All @@ -158,76 +164,86 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU
* @dev Returns the total amount that can be redeemed.
*/
function totalRedeemableAmount() external view returns (uint256) {
if (address(liquidityPool).balance < lowWatermarkInETH()) {
uint256 liquidEthAmount = address(liquidityPool).balance - liquidityPool.ethAmountLockedForWithdrawal();
if (liquidEthAmount < lowWatermarkInETH()) {
return 0;
}
uint64 consumableBucketUnits = BucketLimiter.consumable(limit);
uint256 consumableAmount = _convertBucketUnitToAmount(consumableBucketUnits);
return consumableAmount;
uint256 consumableAmount = _convertFromBucketUnit(consumableBucketUnits);
return Math.min(consumableAmount, liquidEthAmount);
}

/**
* @dev Returns whether the given amount can be redeemed.
* @param amount The ETH or eETH amount to check.
*/
function canRedeem(uint256 amount) public view returns (bool) {
if (address(liquidityPool).balance < lowWatermarkInETH()) {
uint256 liquidEthAmount = address(liquidityPool).balance - liquidityPool.ethAmountLockedForWithdrawal();
if (liquidEthAmount < lowWatermarkInETH()) {
return false;
}
uint64 bucketUnit = _convertSharesToBucketUnit(amount, Math.Rounding.Up);
uint64 bucketUnit = _convertToBucketUnit(amount, Math.Rounding.Up);
bool consumable = BucketLimiter.canConsume(limit, bucketUnit);
return consumable;
return consumable && amount <= liquidEthAmount;
}

/**
* @dev Sets the maximum size of the bucket that can be consumed in a given time period.
* @param capacity The capacity of the bucket.
*/
function setCapacity(uint256 capacity) external onlyOwner {
function setCapacity(uint256 capacity) external hasRole(PROTOCOL_ADMIN) {
// max capacity = max(uint64) * 1e12 ~= 16 * 1e18 * 1e12 = 16 * 1e12 ether, which is practically enough
uint64 bucketUnit = _convertSharesToBucketUnit(capacity, Math.Rounding.Down);
uint64 bucketUnit = _convertToBucketUnit(capacity, Math.Rounding.Down);
BucketLimiter.setCapacity(limit, bucketUnit);
}

/**
* @dev Sets the rate at which the bucket is refilled per second.
* @param refillRate The rate at which the bucket is refilled per second.
*/
function setRefillRatePerSecond(uint256 refillRate) external onlyOwner {
function setRefillRatePerSecond(uint256 refillRate) external hasRole(PROTOCOL_ADMIN) {
// max refillRate = max(uint64) * 1e12 ~= 16 * 1e18 * 1e12 = 16 * 1e12 ether per second, which is practically enough
uint64 bucketUnit = _convertSharesToBucketUnit(refillRate, Math.Rounding.Down);
uint64 bucketUnit = _convertToBucketUnit(refillRate, Math.Rounding.Down);
BucketLimiter.setRefillRate(limit, bucketUnit);
}

/**
* @dev Sets the exit fee.
* @param _exitFeeInBps The exit fee.
*/
function setExitFeeBasisPoints(uint16 _exitFeeInBps) external onlyOwner {
function setExitFeeBasisPoints(uint16 _exitFeeInBps) external hasRole(PROTOCOL_ADMIN) {
require(_exitFeeInBps <= BASIS_POINT_SCALE, "INVALID");
exitFeeInBps = _exitFeeInBps;
}

function setLowWatermarkInBpsOfTvl(uint16 _lowWatermarkInBpsOfTvl) external onlyOwner {
function setLowWatermarkInBpsOfTvl(uint16 _lowWatermarkInBpsOfTvl) external hasRole(PROTOCOL_ADMIN) {
require(_lowWatermarkInBpsOfTvl <= BASIS_POINT_SCALE, "INVALID");
lowWatermarkInBpsOfTvl = _lowWatermarkInBpsOfTvl;
}

function setExitFeeSplitToTreasuryInBps(uint16 _exitFeeSplitToTreasuryInBps) external onlyOwner {
function setExitFeeSplitToTreasuryInBps(uint16 _exitFeeSplitToTreasuryInBps) external hasRole(PROTOCOL_ADMIN) {
require(_exitFeeSplitToTreasuryInBps <= BASIS_POINT_SCALE, "INVALID");
exitFeeSplitToTreasuryInBps = _exitFeeSplitToTreasuryInBps;
}

function _updateRateLimit(uint256 shares) internal {
uint64 bucketUnit = _convertSharesToBucketUnit(shares, Math.Rounding.Up);
function pauseContract() external hasRole(PROTOCOL_PAUSER) {
_pause();
}

function unPauseContract() external hasRole(PROTOCOL_UNPAUSER) {
_unpause();
}

function _updateRateLimit(uint256 amount) internal {
uint64 bucketUnit = _convertToBucketUnit(amount, Math.Rounding.Up);
require(BucketLimiter.consume(limit, bucketUnit), "BucketRateLimiter: rate limit exceeded");
}

function _convertSharesToBucketUnit(uint256 shares, Math.Rounding rounding) internal pure returns (uint64) {
return (rounding == Math.Rounding.Up) ? SafeCast.toUint64((shares + BUCKET_UNIT_SCALE - 1) / BUCKET_UNIT_SCALE) : SafeCast.toUint64(shares / BUCKET_UNIT_SCALE);
function _convertToBucketUnit(uint256 amount, Math.Rounding rounding) internal pure returns (uint64) {
return (rounding == Math.Rounding.Up) ? SafeCast.toUint64((amount + BUCKET_UNIT_SCALE - 1) / BUCKET_UNIT_SCALE) : SafeCast.toUint64(amount / BUCKET_UNIT_SCALE);
}

function _convertBucketUnitToAmount(uint64 bucketUnit) internal pure returns (uint256) {
function _convertFromBucketUnit(uint64 bucketUnit) internal pure returns (uint256) {
return bucketUnit * BUCKET_UNIT_SCALE;
}

Expand All @@ -246,4 +262,17 @@ contract EtherFiWithdrawalBuffer is Initializable, OwnableUpgradeable, PausableU

function _authorizeUpgrade(address newImplementation) internal override onlyOwner {}

function getImplementation() external view returns (address) {
return _getImplementation();
}

function _hasRole(bytes32 role, address account) internal view returns (bool) {
require(roleRegistry.hasRole(role, account), "EtherFiWithdrawalBuffer: Unauthorized");
}

modifier hasRole(bytes32 role) {
_hasRole(role, msg.sender);
_;
}

}
1 change: 1 addition & 0 deletions src/interfaces/ILiquidityPool.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -50,6 +50,7 @@ interface ILiquidityPool {
function sharesForAmount(uint256 _amount) external view returns (uint256);
function sharesForWithdrawalAmount(uint256 _amount) external view returns (uint256);
function amountForShare(uint256 _share) external view returns (uint256);
function ethAmountLockedForWithdrawal() external view returns (uint128);

function deposit() external payable returns (uint256);
function deposit(address _referral) external payable returns (uint256);
Expand Down
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