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Issuer.js
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Issuer.js
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require('.'); // import common test scaffolding
const ExchangeRates = artifacts.require('ExchangeRates');
const DelegateApprovals = artifacts.require('DelegateApprovals');
const Escrow = artifacts.require('SynthetixEscrow');
const RewardEscrow = artifacts.require('RewardEscrow');
const Issuer = artifacts.require('Issuer');
const FeePool = artifacts.require('FeePool');
const Synthetix = artifacts.require('Synthetix');
const SynthetixState = artifacts.require('SynthetixState');
const Synth = artifacts.require('Synth');
const {
currentTime,
multiplyDecimal,
divideDecimal,
toUnit,
fastForward,
} = require('../utils/testUtils');
const {
setExchangeWaitingPeriod,
setExchangeFee,
getDecodedLogs,
decodedEventEqual,
onlyGivenAddressCanInvoke,
ensureOnlyExpectedMutativeFunctions,
updateRatesWithDefaults,
setStatus,
} = require('../utils/setupUtils');
const { toBytes32 } = require('../..');
contract('Issuer (via Synthetix)', async accounts => {
const [sUSD, sAUD, sEUR, SNX] = ['sUSD', 'sAUD', 'sEUR', 'SNX'].map(toBytes32);
const [, owner, account1, account2, account3, account6] = accounts;
let synthetix,
synthetixState,
delegateApprovals,
exchangeRates,
feePool,
sUSDContract,
escrow,
rewardEscrow,
oracle,
timestamp,
issuer;
const getRemainingIssuableSynths = async account =>
(await synthetix.remainingIssuableSynths(account))[0];
beforeEach(async () => {
// Save ourselves from having to await deployed() in every single test.
// We do this in a beforeEach instead of before to ensure we isolate
// contract interfaces to prevent test bleed.
exchangeRates = await ExchangeRates.deployed();
feePool = await FeePool.deployed();
escrow = await Escrow.deployed();
delegateApprovals = await DelegateApprovals.deployed();
rewardEscrow = await RewardEscrow.deployed();
synthetix = await Synthetix.deployed();
synthetixState = await SynthetixState.deployed();
sUSDContract = await Synth.at(await synthetix.synths(sUSD));
issuer = await Issuer.deployed();
oracle = await exchangeRates.oracle();
timestamp = await currentTime();
// set minimumStakeTime on issue and burning to 0
await issuer.setMinimumStakeTime(0, { from: owner });
});
it('ensure only known functions are mutative', () => {
ensureOnlyExpectedMutativeFunctions({
abi: issuer.abi,
ignoreParents: ['MixinResolver'],
expected: [
'issueSynths',
'issueSynthsOnBehalf',
'issueMaxSynths',
'issueMaxSynthsOnBehalf',
'burnSynths',
'burnSynthsOnBehalf',
'burnSynthsToTarget',
'burnSynthsToTargetOnBehalf',
'setMinimumStakeTime',
],
});
});
describe('protected methods', () => {
it('issueSynths() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.issueSynths,
args: [account1, toUnit('1')],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('issueSynthsOnBehalf() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.issueSynthsOnBehalf,
args: [account1, account2, toUnit('1')],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('issueMaxSynths() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.issueMaxSynths,
args: [account1],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('issueMaxSynthsOnBehalf() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.issueMaxSynthsOnBehalf,
args: [account1, account2],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('burnSynths() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.burnSynths,
args: [account1, toUnit('1')],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('burnSynthsOnBehalf() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.burnSynthsOnBehalf,
args: [account1, account2, toUnit('1')],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('burnSynthsToTarget() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.burnSynthsToTarget,
args: [account1],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('burnSynthsToTargetOnBehalf() cannot be invoked directly by a user', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.burnSynthsToTargetOnBehalf,
args: [account1, account2],
accounts,
reason: 'Only the synthetix contract can perform this action',
});
});
it('setMinimumStakeTime() can onlt be invoked by owner', async () => {
await onlyGivenAddressCanInvoke({
fnc: issuer.setMinimumStakeTime,
args: [1],
address: owner,
accounts,
reason: 'Only the contract owner may perform this action',
});
});
});
describe('minimumStakeTime - recording last issue and burn timestamp', async () => {
let now;
beforeEach(async () => {
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('1000'), { from: owner });
now = await currentTime();
});
it('should revert if setMinimumStakeTime > than 1 week', async () => {
const week = 604800;
// revert if setting minimumStakeTime greater than 1 week
await assert.revert(
issuer.setMinimumStakeTime(week + 1, { from: owner }),
'stake time exceed maximum 1 week'
);
});
it('should allow setMinimumStakeTime less than equal 1 week', async () => {
const week = 604800;
await issuer.setMinimumStakeTime(week, { from: owner });
});
it('should issue synths and store issue timestamp after now', async () => {
// issue synths
await synthetix.issueSynths(web3.utils.toBN('5'), { from: account1 });
// issue timestamp should be greater than now in future
const issueTimestamp = await issuer.lastIssueEvent(owner);
assert.ok(issueTimestamp.gte(now));
});
describe('require wait time on next burn synth after minting', async () => {
it('should revert when burning any synths within minStakeTime', async () => {
// set minimumStakeTime
await issuer.setMinimumStakeTime(60 * 60 * 8, { from: owner });
// issue synths first
await synthetix.issueSynths(web3.utils.toBN('5'), { from: account1 });
await assert.revert(
synthetix.burnSynths(web3.utils.toBN('5'), { from: account1 }),
'Minimum stake time not reached'
);
});
it('should set minStakeTime to 120 seconds and able to burn after wait time', async () => {
// set minimumStakeTime
await issuer.setMinimumStakeTime(120, { from: owner });
// issue synths first
await synthetix.issueSynths(web3.utils.toBN('5'), { from: account1 });
// fastForward 30 seconds
await fastForward(10);
await assert.revert(
synthetix.burnSynths(web3.utils.toBN('5'), { from: account1 }),
'Minimum stake time not reached'
);
// fastForward 115 seconds
await fastForward(125);
// burn synths
await synthetix.burnSynths(web3.utils.toBN('5'), { from: account1 });
});
});
});
describe('issuance', () => {
['System', 'Issuance'].forEach(section => {
describe(`when ${section} is suspended`, () => {
beforeEach(async () => {
// ensure user has synths to issue from
await synthetix.transfer(account1, toUnit('1000'), { from: owner });
await setStatus({ owner, section, suspend: true });
});
it('then calling issue() reverts', async () => {
await assert.revert(
synthetix.issueSynths(toUnit('1'), { from: account1 }),
'Operation prohibited'
);
});
it('and calling issueMaxSynths() reverts', async () => {
await assert.revert(synthetix.issueMaxSynths({ from: account1 }), 'Operation prohibited');
});
describe(`when ${section} is resumed`, () => {
beforeEach(async () => {
await setStatus({ owner, section, suspend: false });
});
it('then calling issue() succeeds', async () => {
await synthetix.issueSynths(toUnit('1'), { from: account1 });
});
it('and calling issueMaxSynths() succeeds', async () => {
await synthetix.issueMaxSynths({ from: account1 });
});
});
});
});
it('should allow the issuance of a small amount of synths', async () => {
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('1000'), { from: owner });
// account1 should be able to issue
// Note: If a too small amount of synths are issued here, the amount may be
// rounded to 0 in the debt register. This will revert. As such, there is a minimum
// number of synths that need to be issued each time issue is invoked. The exact
// amount depends on the Synth exchange rate and the total supply.
await synthetix.issueSynths(web3.utils.toBN('5'), { from: account1 });
});
it('should be possible to issue the maximum amount of synths via issueSynths', async () => {
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('1000'), { from: owner });
const maxSynths = await synthetix.maxIssuableSynths(account1);
// account1 should be able to issue
await synthetix.issueSynths(maxSynths, { from: account1 });
});
it('should allow an issuer to issue synths in one flavour', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('1000'), { from: owner });
// account1 should be able to issue
await synthetix.issueSynths(toUnit('10'), { from: account1 });
// There should be 10 sUSD of value in the system
assert.bnEqual(await synthetix.totalIssuedSynths(sUSD), toUnit('10'));
// And account1 should own 100% of the debt.
assert.bnEqual(await synthetix.totalIssuedSynths(sUSD), toUnit('10'));
assert.bnEqual(await synthetix.debtBalanceOf(account1, sUSD), toUnit('10'));
});
// TODO: Check that the rounding errors are acceptable
it('should allow two issuers to issue synths in one flavour', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1 and account2
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
await synthetix.transfer(account2, toUnit('10000'), {
from: owner,
});
// Issue
await synthetix.issueSynths(toUnit('10'), { from: account1 });
await synthetix.issueSynths(toUnit('20'), { from: account2 });
// There should be 30sUSD of value in the system
assert.bnEqual(await synthetix.totalIssuedSynths(sUSD), toUnit('30'));
// And the debt should be split 50/50.
// But there's a small rounding error.
// This is ok, as when the last person exits the system, their debt percentage is always 100% so
// these rounding errors don't cause the system to be out of balance.
assert.bnClose(await synthetix.debtBalanceOf(account1, sUSD), toUnit('10'));
assert.bnClose(await synthetix.debtBalanceOf(account2, sUSD), toUnit('20'));
});
it('should allow multi-issuance in one flavour', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1 and account2
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
await synthetix.transfer(account2, toUnit('10000'), {
from: owner,
});
// Issue
await synthetix.issueSynths(toUnit('10'), { from: account1 });
await synthetix.issueSynths(toUnit('20'), { from: account2 });
await synthetix.issueSynths(toUnit('10'), { from: account1 });
// There should be 40 sUSD of value in the system
assert.bnEqual(await synthetix.totalIssuedSynths(sUSD), toUnit('40'));
// And the debt should be split 50/50.
// But there's a small rounding error.
// This is ok, as when the last person exits the system, their debt percentage is always 100% so
// these rounding errors don't cause the system to be out of balance.
assert.bnClose(await synthetix.debtBalanceOf(account1, sUSD), toUnit('20'));
assert.bnClose(await synthetix.debtBalanceOf(account2, sUSD), toUnit('20'));
});
it('should allow an issuer to issue max synths in one flavour', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
// Issue
await synthetix.issueMaxSynths({ from: account1 });
// There should be 200 sUSD of value in the system
assert.bnEqual(await synthetix.totalIssuedSynths(sUSD), toUnit('200'));
// And account1 should own all of it.
assert.bnEqual(await synthetix.debtBalanceOf(account1, sUSD), toUnit('200'));
});
it('should allow an issuer to issue max synths via the standard issue call', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
// Determine maximum amount that can be issued.
const maxIssuable = await synthetix.maxIssuableSynths(account1);
// Issue
await synthetix.issueSynths(maxIssuable, { from: account1 });
// There should be 200 sUSD of value in the system
assert.bnEqual(await synthetix.totalIssuedSynths(sUSD), toUnit('200'));
// And account1 should own all of it.
assert.bnEqual(await synthetix.debtBalanceOf(account1, sUSD), toUnit('200'));
});
it('should disallow an issuer from issuing synths beyond their remainingIssuableSynths', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
// They should now be able to issue sUSD
const issuableSynths = await getRemainingIssuableSynths(account1);
assert.bnEqual(issuableSynths, toUnit('200'));
// Issue that amount.
await synthetix.issueSynths(issuableSynths, { from: account1 });
// They should now have 0 issuable synths.
assert.bnEqual(await getRemainingIssuableSynths(account1), '0');
// And trying to issue the smallest possible unit of one should fail.
await assert.revert(synthetix.issueSynths('1', { from: account1 }));
});
});
describe('burning', () => {
['System', 'Issuance'].forEach(section => {
describe(`when ${section} is suspended`, () => {
beforeEach(async () => {
// ensure user has synths to burb
await synthetix.transfer(account1, toUnit('1000'), { from: owner });
await synthetix.issueMaxSynths({ from: account1 });
await setStatus({ owner, section, suspend: true });
});
it('then calling burn() reverts', async () => {
await assert.revert(
synthetix.burnSynths(toUnit('1'), { from: account1 }),
'Operation prohibited'
);
});
it('and calling burnSynthsToTarget() reverts', async () => {
await assert.revert(
synthetix.burnSynthsToTarget({ from: account1 }),
'Operation prohibited'
);
});
describe(`when ${section} is resumed`, () => {
beforeEach(async () => {
await setStatus({ owner, section, suspend: false });
});
it('then calling burnSynths() succeeds', async () => {
await synthetix.burnSynths(toUnit('1'), { from: account1 });
});
it('and calling burnSynthsToTarget() succeeds', async () => {
await synthetix.burnSynthsToTarget({ from: account1 });
});
});
});
});
it('should allow an issuer with outstanding debt to burn synths and decrease debt', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
// Issue
await synthetix.issueMaxSynths({ from: account1 });
// account1 should now have 200 sUSD of debt.
assert.bnEqual(await synthetix.debtBalanceOf(account1, sUSD), toUnit('200'));
// Burn 100 sUSD
await synthetix.burnSynths(toUnit('100'), { from: account1 });
// account1 should now have 100 sUSD of debt.
assert.bnEqual(await synthetix.debtBalanceOf(account1, sUSD), toUnit('100'));
});
it('should disallow an issuer without outstanding debt from burning synths', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
// Issue
await synthetix.issueMaxSynths({ from: account1 });
// account2 should not have anything and can't burn.
await assert.revert(synthetix.burnSynths(toUnit('10'), { from: account2 }));
// And even when we give account2 synths, it should not be able to burn.
await sUSDContract.transfer(account2, toUnit('100'), {
from: account1,
});
await assert.revert(synthetix.burnSynths(toUnit('10'), { from: account2 }));
});
it('should revert when trying to burn synths that do not exist', async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
// Issue
await synthetix.issueMaxSynths({ from: account1 });
// Transfer all newly issued synths to account2
await sUSDContract.transfer(account2, toUnit('200'), {
from: account1,
});
const debtBefore = await synthetix.debtBalanceOf(account1, sUSD);
assert.ok(!debtBefore.isNeg());
// Burning any amount of sUSD beyond what is owned will cause a revert
await assert.revert(synthetix.burnSynths('1', { from: account1 }));
});
it("should only burn up to a user's actual debt level", async () => {
// Send a price update to guarantee we're not depending on values from outside this test.
await exchangeRates.updateRates(
[sAUD, sEUR, SNX],
['0.5', '1.25', '0.1'].map(toUnit),
timestamp,
{ from: oracle }
);
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('10000'), {
from: owner,
});
await synthetix.transfer(account2, toUnit('10000'), {
from: owner,
});
// Issue
const fullAmount = toUnit('210');
const account1Payment = toUnit('10');
const account2Payment = fullAmount.sub(account1Payment);
await synthetix.issueSynths(account1Payment, { from: account1 });
await synthetix.issueSynths(account2Payment, { from: account2 });
// Transfer all of account2's synths to account1
await sUSDContract.transfer(account1, toUnit('200'), {
from: account2,
});
// return;
// Calculate the amount that account1 should actually receive
const amountReceived = await feePool.amountReceivedFromTransfer(toUnit('200'));
const balanceOfAccount1 = await sUSDContract.balanceOf(account1);
// Then try to burn them all. Only 10 synths (and fees) should be gone.
await synthetix.burnSynths(balanceOfAccount1, { from: account1 });
const balanceOfAccount1AfterBurn = await sUSDContract.balanceOf(account1);
// console.log('##### txn', txn);
// for (let i = 0; i < txn.logs.length; i++) {
// const result = txn.logs[i].args;
// // console.log('##### txn ???', result);
// for (let j = 0; j < result.__length__; j++) {
// if (txn.logs[i].event === 'SomethingElse' && j === 0) {
// console.log(`##### txn ${i} str`, web3.utils.hexToAscii(txn.logs[i].args[j]));
// } else {
// console.log(`##### txn ${i}`, txn.logs[i].args[j].toString());
// }
// }
// }
// Recording debts in the debt ledger reduces accuracy.
// Let's allow for a 1000 margin of error.
assert.bnClose(balanceOfAccount1AfterBurn, amountReceived, '1000');
});
});
describe('debt calculation in multi-issuance scenarios', () => {
it('should correctly calculate debt in a multi-issuance scenario', async () => {
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('200000'), {
from: owner,
});
await synthetix.transfer(account2, toUnit('200000'), {
from: owner,
});
// Issue
const issuedSynthsPt1 = toUnit('2000');
const issuedSynthsPt2 = toUnit('2000');
await synthetix.issueSynths(issuedSynthsPt1, { from: account1 });
await synthetix.issueSynths(issuedSynthsPt2, { from: account1 });
await synthetix.issueSynths(toUnit('1000'), { from: account2 });
const debt = await synthetix.debtBalanceOf(account1, sUSD);
assert.bnClose(debt, toUnit('4000'));
});
it('should correctly calculate debt in a multi-issuance multi-burn scenario', async () => {
// Give some SNX to account1
await synthetix.transfer(account1, toUnit('500000'), {
from: owner,
});
await synthetix.transfer(account2, toUnit('14000'), {
from: owner,
});
// Issue
const issuedSynthsPt1 = toUnit('2000');
const burntSynthsPt1 = toUnit('1500');
const issuedSynthsPt2 = toUnit('1600');
const burntSynthsPt2 = toUnit('500');
await synthetix.issueSynths(issuedSynthsPt1, { from: account1 });
await synthetix.burnSynths(burntSynthsPt1, { from: account1 });
await synthetix.issueSynths(issuedSynthsPt2, { from: account1 });
await synthetix.issueSynths(toUnit('100'), { from: account2 });
await synthetix.issueSynths(toUnit('51'), { from: account2 });
await synthetix.burnSynths(burntSynthsPt2, { from: account1 });
const debt = await synthetix.debtBalanceOf(account1, toBytes32('sUSD'));
const expectedDebt = issuedSynthsPt1
.add(issuedSynthsPt2)
.sub(burntSynthsPt1)
.sub(burntSynthsPt2);
assert.bnClose(debt, expectedDebt);
});
it("should allow me to burn all synths I've issued when there are other issuers", async () => {
const totalSupply = await synthetix.totalSupply();
const account2Synthetixs = toUnit('120000');
const account1Synthetixs = totalSupply.sub(account2Synthetixs);
await synthetix.transfer(account1, account1Synthetixs, {
from: owner,
}); // Issue the massive majority to account1
await synthetix.transfer(account2, account2Synthetixs, {
from: owner,
}); // Issue a small amount to account2
// Issue from account1
const account1AmountToIssue = await synthetix.maxIssuableSynths(account1);
await synthetix.issueMaxSynths({ from: account1 });
const debtBalance1 = await synthetix.debtBalanceOf(account1, sUSD);
assert.bnClose(debtBalance1, account1AmountToIssue);
// Issue and burn from account 2 all debt
await synthetix.issueSynths(toUnit('43'), { from: account2 });
let debt = await synthetix.debtBalanceOf(account2, sUSD);
await synthetix.burnSynths(toUnit('43'), { from: account2 });
debt = await synthetix.debtBalanceOf(account2, sUSD);
assert.bnEqual(debt, 0);
// Should set user issuanceData to 0 debtOwnership and retain debtEntryIndex of last action
assert.deepEqual(await synthetixState.issuanceData(account2), {
initialDebtOwnership: 0,
debtEntryIndex: 2,
});
});
});
// These tests take a long time to run
// ****************************************
describe('multiple issue and burn scenarios', () => {
it('should correctly calculate debt in a high issuance and burn scenario', async () => {
const getRandomInt = (min, max) => {
return min + Math.floor(Math.random() * Math.floor(max));
};
const totalSupply = await synthetix.totalSupply();
const account2Synthetixs = toUnit('120000');
const account1Synthetixs = totalSupply.sub(account2Synthetixs);
await synthetix.transfer(account1, account1Synthetixs, {
from: owner,
}); // Issue the massive majority to account1
await synthetix.transfer(account2, account2Synthetixs, {
from: owner,
}); // Issue a small amount to account2
const account1AmountToIssue = await synthetix.maxIssuableSynths(account1);
await synthetix.issueMaxSynths({ from: account1 });
const debtBalance1 = await synthetix.debtBalanceOf(account1, sUSD);
assert.bnClose(debtBalance1, account1AmountToIssue);
let expectedDebtForAccount2 = web3.utils.toBN('0');
const totalTimesToIssue = 40;
for (let i = 0; i < totalTimesToIssue; i++) {
// Seems that in this case, issuing 43 each time leads to increasing the variance regularly each time.
const amount = toUnit('43');
await synthetix.issueSynths(amount, { from: account2 });
expectedDebtForAccount2 = expectedDebtForAccount2.add(amount);
const desiredAmountToBurn = toUnit(web3.utils.toBN(getRandomInt(4, 14)));
const amountToBurn = desiredAmountToBurn.lte(expectedDebtForAccount2)
? desiredAmountToBurn
: expectedDebtForAccount2;
await synthetix.burnSynths(amountToBurn, { from: account2 });
expectedDebtForAccount2 = expectedDebtForAccount2.sub(amountToBurn);
// Useful debug logging
// const db = await synthetix.debtBalanceOf(account2, sUSD);
// const variance = fromUnit(expectedDebtForAccount2.sub(db));
// console.log(
// `#### debtBalance: ${db}\t\t expectedDebtForAccount2: ${expectedDebtForAccount2}\t\tvariance: ${variance}`
// );
}
const debtBalance = await synthetix.debtBalanceOf(account2, sUSD);
// Here we make the variance a calculation of the number of times we issue/burn.
// This is less than ideal, but is the result of calculating the debt based on
// the results of the issue/burn each time.
const variance = web3.utils.toBN(totalTimesToIssue).mul(web3.utils.toBN('2'));
assert.bnClose(debtBalance, expectedDebtForAccount2, variance);
});
it('should correctly calculate debt in a high (random) issuance and burn scenario', async () => {
const getRandomInt = (min, max) => {
return min + Math.floor(Math.random() * Math.floor(max));
};
const totalSupply = await synthetix.totalSupply();
const account2Synthetixs = toUnit('120000');
const account1Synthetixs = totalSupply.sub(account2Synthetixs);
await synthetix.transfer(account1, account1Synthetixs, {
from: owner,
}); // Issue the massive majority to account1
await synthetix.transfer(account2, account2Synthetixs, {
from: owner,
}); // Issue a small amount to account2
const account1AmountToIssue = await synthetix.maxIssuableSynths(account1);
await synthetix.issueMaxSynths({ from: account1 });
const debtBalance1 = await synthetix.debtBalanceOf(account1, sUSD);
assert.bnClose(debtBalance1, account1AmountToIssue);
let expectedDebtForAccount2 = web3.utils.toBN('0');
const totalTimesToIssue = 40;
for (let i = 0; i < totalTimesToIssue; i++) {
// Seems that in this case, issuing 43 each time leads to increasing the variance regularly each time.
const amount = toUnit(web3.utils.toBN(getRandomInt(40, 49)));
await synthetix.issueSynths(amount, { from: account2 });
expectedDebtForAccount2 = expectedDebtForAccount2.add(amount);
const desiredAmountToBurn = toUnit(web3.utils.toBN(getRandomInt(37, 46)));
const amountToBurn = desiredAmountToBurn.lte(expectedDebtForAccount2)
? desiredAmountToBurn
: expectedDebtForAccount2;
await synthetix.burnSynths(amountToBurn, { from: account2 });
expectedDebtForAccount2 = expectedDebtForAccount2.sub(amountToBurn);
// Useful debug logging
// const db = await synthetix.debtBalanceOf(account2, sUSD);
// const variance = fromUnit(expectedDebtForAccount2.sub(db));
// console.log(
// `#### debtBalance: ${db}\t\t expectedDebtForAccount2: ${expectedDebtForAccount2}\t\tvariance: ${variance}`
// );
}
const debtBalance = await synthetix.debtBalanceOf(account2, sUSD);
// Here we make the variance a calculation of the number of times we issue/burn.
// This is less than ideal, but is the result of calculating the debt based on
// the results of the issue/burn each time.
const variance = web3.utils.toBN(totalTimesToIssue).mul(web3.utils.toBN('2'));
assert.bnClose(debtBalance, expectedDebtForAccount2, variance);
});
it('should correctly calculate debt in a high volume contrast issuance and burn scenario', async () => {
const totalSupply = await synthetix.totalSupply();
// Give only 100 Synthetix to account2
const account2Synthetixs = toUnit('100');
// Give the vast majority to account1 (ie. 99,999,900)
const account1Synthetixs = totalSupply.sub(account2Synthetixs);
await synthetix.transfer(account1, account1Synthetixs, {
from: owner,
}); // Issue the massive majority to account1
await synthetix.transfer(account2, account2Synthetixs, {
from: owner,
}); // Issue a small amount to account2
const account1AmountToIssue = await synthetix.maxIssuableSynths(account1);
await synthetix.issueMaxSynths({ from: account1 });
const debtBalance1 = await synthetix.debtBalanceOf(account1, sUSD);
assert.bnEqual(debtBalance1, account1AmountToIssue);
let expectedDebtForAccount2 = web3.utils.toBN('0');
const totalTimesToIssue = 40;
for (let i = 0; i < totalTimesToIssue; i++) {
const amount = toUnit('0.000000000000000002');
await synthetix.issueSynths(amount, { from: account2 });
expectedDebtForAccount2 = expectedDebtForAccount2.add(amount);
}
const debtBalance2 = await synthetix.debtBalanceOf(account2, sUSD);
// Here we make the variance a calculation of the number of times we issue/burn.
// This is less than ideal, but is the result of calculating the debt based on
// the results of the issue/burn each time.
const variance = web3.utils.toBN(totalTimesToIssue).mul(web3.utils.toBN('2'));
assert.bnClose(debtBalance2, expectedDebtForAccount2, variance);
});
});
// ****************************************
it("should prevent more issuance if the user's collaterisation changes to be insufficient", async () => {
// Set sEUR for purposes of this test
const timestamp1 = await currentTime();
await exchangeRates.updateRates([sEUR], [toUnit('0.75')], timestamp1, { from: oracle });
const issuedSynthetixs = web3.utils.toBN('200000');
await synthetix.transfer(account1, toUnit(issuedSynthetixs), {
from: owner,
});
const maxIssuableSynths = await synthetix.maxIssuableSynths(account1);
// Issue
const synthsToNotIssueYet = web3.utils.toBN('2000');
const issuedSynths = maxIssuableSynths.sub(synthsToNotIssueYet);
await synthetix.issueSynths(issuedSynths, { from: account1 });
// exchange into sEUR
await synthetix.exchange(sUSD, issuedSynths, sEUR, { from: account1 });
// Increase the value of sEUR relative to synthetix
const timestamp2 = await currentTime();
await exchangeRates.updateRates([sEUR], [toUnit('1.10')], timestamp2, { from: oracle });
await assert.revert(synthetix.issueSynths(synthsToNotIssueYet, { from: account1 }));
});
// Check user's collaterisation ratio
it('should return 0 if user has no synthetix when checking the collaterisation ratio', async () => {
const ratio = await synthetix.collateralisationRatio(account1);
assert.bnEqual(ratio, new web3.utils.BN(0));
});
it('Any user can check the collaterisation ratio for a user', async () => {
const issuedSynthetixs = web3.utils.toBN('320000');
await synthetix.transfer(account1, toUnit(issuedSynthetixs), {
from: owner,
});
// Issue
const issuedSynths = toUnit(web3.utils.toBN('6400'));
await synthetix.issueSynths(issuedSynths, { from: account1 });
await synthetix.collateralisationRatio(account1, { from: account2 });
});
it('should be able to read collaterisation ratio for a user with synthetix but no debt', async () => {
const issuedSynthetixs = web3.utils.toBN('30000');
await synthetix.transfer(account1, toUnit(issuedSynthetixs), {
from: owner,
});
const ratio = await synthetix.collateralisationRatio(account1);
assert.bnEqual(ratio, new web3.utils.BN(0));
});
it('should be able to read collaterisation ratio for a user with synthetix and debt', async () => {
// Ensure SNX rate is set
await updateRatesWithDefaults({ oracle: oracle });
const issuedSynthetixs = web3.utils.toBN('320000');
await synthetix.transfer(account1, toUnit(issuedSynthetixs), {
from: owner,
});
// Issue
const issuedSynths = toUnit(web3.utils.toBN('6400'));
await synthetix.issueSynths(issuedSynths, { from: account1 });
const ratio = await synthetix.collateralisationRatio(account1, { from: account2 });
assert.unitEqual(ratio, '0.2');
});
it("should include escrowed synthetix when calculating a user's collaterisation ratio", async () => {
const snx2usdRate = await exchangeRates.rateForCurrency(SNX);
const transferredSynthetixs = toUnit('60000');
await synthetix.transfer(account1, transferredSynthetixs, {
from: owner,
});
// Setup escrow
const oneWeek = 60 * 60 * 24 * 7;
const twelveWeeks = oneWeek * 12;
const now = await currentTime();
const escrowedSynthetixs = toUnit('30000');
await synthetix.transfer(escrow.address, escrowedSynthetixs, {
from: owner,
});
await escrow.appendVestingEntry(
account1,
web3.utils.toBN(now + twelveWeeks),
escrowedSynthetixs,
{
from: owner,
}
);
// Issue
const maxIssuable = await synthetix.maxIssuableSynths(account1);
await synthetix.issueSynths(maxIssuable, { from: account1 });
// Compare
const collaterisationRatio = await synthetix.collateralisationRatio(account1);
const expectedCollaterisationRatio = divideDecimal(
maxIssuable,
multiplyDecimal(escrowedSynthetixs.add(transferredSynthetixs), snx2usdRate)
);
assert.bnEqual(collaterisationRatio, expectedCollaterisationRatio);
});
it("should include escrowed reward synthetix when calculating a user's collaterisation ratio", async () => {
const snx2usdRate = await exchangeRates.rateForCurrency(SNX);
const transferredSynthetixs = toUnit('60000');
await synthetix.transfer(account1, transferredSynthetixs, {
from: owner,
});
// Setup reward escrow
const feePoolAccount = account6;