diff --git a/.github/workflows/devnet_docker.yml b/.github/workflows/devnet_docker.yml
index 265a30d77..9df0b2261 100644
--- a/.github/workflows/devnet_docker.yml
+++ b/.github/workflows/devnet_docker.yml
@@ -51,3 +51,13 @@ jobs:
           push: true
           tags: ${{ steps.meta.outputs.tags }}
           labels: ${{ steps.meta.outputs.labels }}
+          build-args: |
+            FACTORY_MIN_CURVE_FEE=0
+            FACTORY_MIN_FLAT_FEE=0
+            FACTORY_MIN_GOVERNANCE_LP_FEE=0
+            FACTORY_MIN_GOVERNANCE_ZOMBIE_FEE=0
+            FACTORY_MAX_CURVE_FEE=1000000000000000000
+            FACTORY_MAX_FLAT_FEE=1000000000000000000
+            FACTORY_MAX_GOVERNANCE_LP_FEE=1000000000000000000
+            FACTORY_MAX_GOVERNANCE_ZOMBIE_FEE=1000000000000000000
+            FACTORY_MIN_POSITION_DURATION=86400
diff --git a/.gitmodules b/.gitmodules
index 3008c272f..5611d0f29 100644
--- a/.gitmodules
+++ b/.gitmodules
@@ -9,6 +9,7 @@
 [submodule "lib/openzeppelin-contracts"]
 	path = lib/openzeppelin-contracts
 	url = https://github.com/OpenZeppelin/openzeppelin-contracts
+	branch = v5.0.1
 [submodule "lib/solmate"]
 	path = lib/solmate
 	url = https://github.com/transmissions11/solmate
diff --git a/README.md b/README.md
index 66bce1b0f..f8fb0f682 100644
--- a/README.md
+++ b/README.md
@@ -1,4 +1,4 @@
-[![Tests](https://github.com/delvtech/hyperdrive/actions/workflows/test.yml/badge.svg)](https://github.com/delvtech/hyperdrive/actions/workflows/test.yml)
+[![Tests](https://github.com/delvtech/hyperdrive/actions/workflows/solidity_test.yml/badge.svg)](https://github.com/delvtech/hyperdrive/actions/workflows/solidity_test.yml)
 [![Coverage](https://coveralls.io/repos/github/delvtech/hyperdrive/badge.svg?branch=main&t=vnW3xG&kill_cache=1&service=github)](https://coveralls.io/github/delvtech/hyperdrive?branch=main)
 
 # Hyperdrive
@@ -41,7 +41,7 @@ If you want to automatically format the code, run `yarn prettier`.
 
 ## Yield Sources
 
-The current suggested way of integrating your yield source with hyperdrive is through the [ERC-4626 standard](https://eips.ethereum.org/EIPS/eip-4626) although accomodations can be made if this is not possible. Hyperdrive currently makes use of [Yield Daddy](https://github.com/timeless-fi/yield-daddy) to wrap many existing yield sources into this standard.
+The current suggested way of integrating your yield source with hyperdrive is through the [ERC-4626 standard](https://eips.ethereum.org/EIPS/eip-4626) although accomodations can be made if this is not possible.
 
 # Disclaimer
 
diff --git a/contracts/src/deployers/HyperdriveDeployerCoordinator.sol b/contracts/src/deployers/HyperdriveDeployerCoordinator.sol
index 4b782ab10..c0e6da631 100644
--- a/contracts/src/deployers/HyperdriveDeployerCoordinator.sol
+++ b/contracts/src/deployers/HyperdriveDeployerCoordinator.sol
@@ -1,9 +1,9 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveCoreDeployer } from "../interfaces/IHyperdriveCoreDeployer.sol";
-import { IDeployerCoordinator } from "../interfaces/IDeployerCoordinator.sol";
+import { IHyperdriveDeployerCoordinator } from "../interfaces/IHyperdriveDeployerCoordinator.sol";
 import { IHyperdriveTargetDeployer } from "../interfaces/IHyperdriveTargetDeployer.sol";
 
 /// @author DELV
@@ -14,7 +14,36 @@ import { IHyperdriveTargetDeployer } from "../interfaces/IHyperdriveTargetDeploy
 /// @custom:disclaimer The language used in this code is for coding convenience
 ///                    only, and is not intended to, and does not, have any
 ///                    particular legal or regulatory significance.
-abstract contract HyperdriveDeployerCoordinator is IDeployerCoordinator {
+abstract contract HyperdriveDeployerCoordinator is
+    IHyperdriveDeployerCoordinator
+{
+    struct Deployment {
+        /// @dev The hash of the config used in this deployment. This is used to
+        ///      ensure that the config is the same across all deployments in
+        ///      the batch.
+        bytes32 configHash;
+        /// @dev The hash of the extra data passed to the child deployers. This
+        ///      is used to ensure that the extra data is the same across all
+        ///      deployments in the batch.
+        bytes32 extraDataHash;
+        /// @dev The initial share price used in the first part of this
+        ///      deployment. This is used to ensure that the initial share price
+        ///      is the same across all deployments in the batch.
+        uint256 initialSharePrice;
+        /// @dev The address of the Hyperdrive entrypoint.
+        address hyperdrive;
+        /// @dev The address of the HyperdriveTarget0 contract.
+        address target0;
+        /// @dev The address of the HyperdriveTarget1 contract.
+        address target1;
+        /// @dev The address of the HyperdriveTarget2 contract.
+        address target2;
+        /// @dev The address of the HyperdriveTarget3 contract.
+        address target3;
+        /// @dev The address of the HyperdriveTarget4 contract.
+        address target4;
+    }
+
     /// @notice The contract used to deploy new instances of Hyperdrive.
     address public immutable coreDeployer;
 
@@ -30,67 +59,271 @@ abstract contract HyperdriveDeployerCoordinator is IDeployerCoordinator {
     /// @notice The contract used to deploy new instances of HyperdriveTarget3.
     address public immutable target3Deployer;
 
+    /// @notice The contract used to deploy new instances of HyperdriveTarget4.
+    address public immutable target4Deployer;
+
+    /// @notice A mapping from deployer to deployment ID to deployment.
+    mapping(address => mapping(bytes32 => Deployment)) public deployments;
+
     /// @notice Instantiates the deployer coordinator.
     /// @param _coreDeployer The core deployer.
     /// @param _target0Deployer The target0 deployer.
     /// @param _target1Deployer The target1 deployer.
     /// @param _target2Deployer The target2 deployer.
-    /// @param _target3Deployer The target3 deployer.
+    /// @param _target4Deployer The target4 deployer.
     constructor(
         address _coreDeployer,
         address _target0Deployer,
         address _target1Deployer,
         address _target2Deployer,
-        address _target3Deployer
+        address _target3Deployer,
+        address _target4Deployer
     ) {
         coreDeployer = _coreDeployer;
         target0Deployer = _target0Deployer;
         target1Deployer = _target1Deployer;
         target2Deployer = _target2Deployer;
         target3Deployer = _target3Deployer;
+        target4Deployer = _target4Deployer;
     }
 
     /// @notice Deploys a Hyperdrive instance with the given parameters.
+    /// @param _deploymentId The ID of the deployment.
     /// @param _deployConfig The deploy configuration of the Hyperdrive pool.
     /// @param _extraData The extra data that contains the pool and sweep targets.
+    /// @param _salt The create2 salt used to deploy Hyperdrive.
     /// @return The address of the newly deployed ERC4626Hyperdrive Instance.
     function deploy(
+        bytes32 _deploymentId,
         IHyperdrive.PoolDeployConfig memory _deployConfig,
-        bytes memory _extraData
-    ) public virtual returns (address) {
+        bytes memory _extraData,
+        bytes32 _salt
+    ) external returns (address) {
+        // Ensure that the Hyperdrive entrypoint has not already been deployed.
+        Deployment memory deployment = deployments[msg.sender][_deploymentId];
+        if (deployment.hyperdrive != address(0)) {
+            revert IHyperdriveDeployerCoordinator.HyperdriveAlreadyDeployed();
+        }
+
+        // Ensure that the deployment is not a fresh deployment. We can check
+        // this by ensuring that the config hash is set.
+        if (deployment.configHash == bytes32(0)) {
+            revert IHyperdriveDeployerCoordinator.DeploymentDoesNotExist();
+        }
+
+        // Ensure that all of the targets have been deployed.
+        if (
+            deployment.target0 == address(0) ||
+            deployment.target1 == address(0) ||
+            deployment.target2 == address(0) ||
+            deployment.target3 == address(0) ||
+            deployment.target4 == address(0)
+        ) {
+            revert IHyperdriveDeployerCoordinator.IncompleteDeployment();
+        }
+
+        // Ensure that the provided config matches the config hash.
+        if (keccak256(abi.encode(_deployConfig)) != deployment.configHash) {
+            revert IHyperdriveDeployerCoordinator.MismatchedConfig();
+        }
+
+        // Ensure that the provided extra data matches the extra data hash.
+        if (keccak256(_extraData) != deployment.extraDataHash) {
+            revert IHyperdriveDeployerCoordinator.MismatchedExtraData();
+        }
+
         // Convert the deploy config into the pool config and set the initial
         // vault share price.
-        IHyperdrive.PoolConfig memory _config = _copyPoolConfig(_deployConfig);
-        _config.initialVaultSharePrice = _getInitialVaultSharePrice(_extraData);
-
-        // Deploy the target0 contract.
-        address target0 = IHyperdriveTargetDeployer(target0Deployer).deploy(
-            _config,
-            _extraData
-        );
-        address target1 = IHyperdriveTargetDeployer(target1Deployer).deploy(
-            _config,
-            _extraData
-        );
-        address target2 = IHyperdriveTargetDeployer(target2Deployer).deploy(
-            _config,
-            _extraData
-        );
-        address target3 = IHyperdriveTargetDeployer(target3Deployer).deploy(
-            _config,
-            _extraData
-        );
+        IHyperdrive.PoolConfig memory config = _copyPoolConfig(_deployConfig);
+        config.initialVaultSharePrice = deployment.initialSharePrice;
 
         // Deploy the Hyperdrive instance.
         return
             IHyperdriveCoreDeployer(coreDeployer).deploy(
-                _config,
+                config,
+                _extraData,
+                deployment.target0,
+                deployment.target1,
+                deployment.target2,
+                deployment.target3,
+                deployment.target4,
+                _salt
+            );
+    }
+
+    /// @notice Deploys a Hyperdrive target instance with the given parameters.
+    /// @dev As a convention, target0 must be deployed first. After this, the
+    ///      targets can be deployed in any order.
+    /// @param _deploymentId The ID of the deployment.
+    /// @param _deployConfig The deploy configuration of the Hyperdrive pool.
+    /// @param _extraData The extra data that contains the pool and sweep targets.
+    /// @param _targetIndex The index of the target to deploy.
+    /// @param _salt The create2 salt used to deploy the target.
+    /// @return target The address of the newly deployed target instance.
+    function deployTarget(
+        bytes32 _deploymentId,
+        IHyperdrive.PoolDeployConfig memory _deployConfig,
+        bytes memory _extraData,
+        uint256 _targetIndex,
+        bytes32 _salt
+    ) external returns (address target) {
+        // If the target index is 0, then we're deploying the target0 instance.
+        // By convention, this target must be deployed first, and as part of the
+        // deployment of target0, we will register the deployment in the state.
+        if (_targetIndex == 0) {
+            // Ensure that the deployment is a fresh deployment. We can check this
+            // by ensuring that the config hash is not set.
+            if (
+                deployments[msg.sender][_deploymentId].configHash != bytes32(0)
+            ) {
+                revert IHyperdriveDeployerCoordinator.DeploymentAlreadyExists();
+            }
+
+            // Check the pool configuration to ensure that it's a valid
+            // configuration for this instance.
+            _checkPoolConfig(_deployConfig);
+
+            // Get the initial share price and the hashes of the config and extra
+            // data.
+            uint256 initialSharePrice = _getInitialVaultSharePrice(_extraData);
+            bytes32 configHash = keccak256(abi.encode(_deployConfig));
+            bytes32 extraDataHash = keccak256(_extraData);
+
+            // Convert the deploy config into the pool config and set the initial
+            // vault share price.
+            IHyperdrive.PoolConfig memory config_ = _copyPoolConfig(
+                _deployConfig
+            );
+            config_.initialVaultSharePrice = initialSharePrice;
+
+            // Deploy the target0 contract.
+            target = IHyperdriveTargetDeployer(target0Deployer).deploy(
+                config_,
+                _extraData,
+                _salt
+            );
+
+            // Store the deployment.
+            deployments[msg.sender][_deploymentId].configHash = configHash;
+            deployments[msg.sender][_deploymentId]
+                .extraDataHash = extraDataHash;
+            deployments[msg.sender][_deploymentId]
+                .initialSharePrice = initialSharePrice;
+            deployments[msg.sender][_deploymentId].target0 = target;
+
+            return target;
+        }
+
+        // Ensure that the deployment is not a fresh deployment. We can check
+        // this by ensuring that the config hash is set.
+        if (deployments[msg.sender][_deploymentId].configHash == bytes32(0)) {
+            revert IHyperdriveDeployerCoordinator.DeploymentDoesNotExist();
+        }
+
+        // Ensure that the provided config matches the config hash.
+        if (
+            keccak256(abi.encode(_deployConfig)) !=
+            deployments[msg.sender][_deploymentId].configHash
+        ) {
+            revert IHyperdriveDeployerCoordinator.MismatchedConfig();
+        }
+
+        // Ensure that the provided extra data matches the extra data hash.
+        if (
+            keccak256(_extraData) !=
+            deployments[msg.sender][_deploymentId].extraDataHash
+        ) {
+            revert IHyperdriveDeployerCoordinator.MismatchedExtraData();
+        }
+
+        // Convert the deploy config into the pool config and set the initial
+        // vault share price.
+        IHyperdrive.PoolConfig memory config = _copyPoolConfig(_deployConfig);
+        config.initialVaultSharePrice = deployments[msg.sender][_deploymentId]
+            .initialSharePrice;
+
+        // If the target index is greater than 0, then we're deploying one of
+        // the other target instances. We don't allow targets to be deployed
+        // more than once, and their addresses are stored in the deployment
+        // state.
+        if (_targetIndex == 1) {
+            if (deployments[msg.sender][_deploymentId].target1 != address(0)) {
+                revert IHyperdriveDeployerCoordinator.TargetAlreadyDeployed();
+            }
+            target = IHyperdriveTargetDeployer(target1Deployer).deploy(
+                config,
+                _extraData,
+                _salt
+            );
+            deployments[msg.sender][_deploymentId].target1 = target;
+        } else if (_targetIndex == 2) {
+            if (deployments[msg.sender][_deploymentId].target2 != address(0)) {
+                revert IHyperdriveDeployerCoordinator.TargetAlreadyDeployed();
+            }
+            target = IHyperdriveTargetDeployer(target2Deployer).deploy(
+                config,
                 _extraData,
-                target0,
-                target1,
-                target2,
-                target3
+                _salt
             );
+            deployments[msg.sender][_deploymentId].target2 = target;
+        } else if (_targetIndex == 3) {
+            if (deployments[msg.sender][_deploymentId].target3 != address(0)) {
+                revert IHyperdriveDeployerCoordinator.TargetAlreadyDeployed();
+            }
+            target = IHyperdriveTargetDeployer(target3Deployer).deploy(
+                config,
+                _extraData,
+                _salt
+            );
+            deployments[msg.sender][_deploymentId].target3 = target;
+        } else if (_targetIndex == 4) {
+            if (deployments[msg.sender][_deploymentId].target4 != address(0)) {
+                revert IHyperdriveDeployerCoordinator.TargetAlreadyDeployed();
+            }
+            target = IHyperdriveTargetDeployer(target4Deployer).deploy(
+                config,
+                _extraData,
+                _salt
+            );
+            deployments[msg.sender][_deploymentId].target4 = target;
+        } else {
+            revert IHyperdriveDeployerCoordinator.InvalidTargetIndex();
+        }
+
+        return target;
+    }
+
+    /// @notice Checks the pool configuration to ensure that it is valid.
+    /// @param _deployConfig The deploy configuration of the Hyperdrive pool.
+    function _checkPoolConfig(
+        IHyperdrive.PoolDeployConfig memory _deployConfig
+    ) internal view virtual {
+        // Ensure that the minimum share reserves is at least 1e3. Deployer
+        // coordinators should override this to be stricter.
+        if (_deployConfig.minimumShareReserves < 1e3) {
+            revert IHyperdriveDeployerCoordinator.InvalidMinimumShareReserves();
+        }
+
+        if (_deployConfig.checkpointDuration == 0) {
+            revert IHyperdriveDeployerCoordinator.InvalidCheckpointDuration();
+        }
+        if (
+            _deployConfig.positionDuration < _deployConfig.checkpointDuration ||
+            _deployConfig.positionDuration % _deployConfig.checkpointDuration !=
+            0
+        ) {
+            revert IHyperdriveDeployerCoordinator.InvalidPositionDuration();
+        }
+
+        // Ensure that the fees don't exceed 100%.
+        if (
+            _deployConfig.fees.curve > 1e18 ||
+            _deployConfig.fees.flat > 1e18 ||
+            _deployConfig.fees.governanceLP > 1e18 ||
+            _deployConfig.fees.governanceZombie > 1e18
+        ) {
+            revert IHyperdriveDeployerCoordinator.InvalidFeeAmounts();
+        }
     }
 
     /// @dev Gets the initial vault share price of the Hyperdrive pool.
diff --git a/contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol b/contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol
index f88603342..a68a973d9 100644
--- a/contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol
+++ b/contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
@@ -20,6 +20,8 @@ contract ERC4626HyperdriveCoreDeployer is IHyperdriveCoreDeployer {
     /// @param target1 The target1 address.
     /// @param target2 The target2 address.
     /// @param target3 The target3 address.
+    /// @param target4 The target4 address.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed ERC4626Hyperdrive instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
@@ -27,18 +29,20 @@ contract ERC4626HyperdriveCoreDeployer is IHyperdriveCoreDeployer {
         address target0,
         address target1,
         address target2,
-        address target3
-    ) external override returns (address) {
-        // Deploy the ERC4626Hyperdrive instance.
+        address target3,
+        address target4,
+        bytes32 _salt
+    ) external returns (address) {
         address vault = abi.decode(_extraData, (address));
         return (
             address(
-                new ERC4626Hyperdrive(
+                new ERC4626Hyperdrive{ salt: _salt }(
                     _config,
                     target0,
                     target1,
                     target2,
                     target3,
+                    target4,
                     IERC4626(vault)
                 )
             )
diff --git a/contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol b/contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol
index f6523b533..e06ac6b3e 100644
--- a/contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol
+++ b/contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol
@@ -1,8 +1,9 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
+import { IHyperdriveDeployerCoordinator } from "../../interfaces/IHyperdriveDeployerCoordinator.sol";
 import { ONE } from "../../libraries/FixedPointMath.sol";
 import { HyperdriveDeployerCoordinator } from "../HyperdriveDeployerCoordinator.sol";
 
@@ -19,30 +20,33 @@ contract ERC4626HyperdriveDeployerCoordinator is HyperdriveDeployerCoordinator {
     /// @param _target1Deployer The target1 deployer.
     /// @param _target2Deployer The target2 deployer.
     /// @param _target3Deployer The target3 deployer.
+    /// @param _target4Deployer The target4 deployer.
     constructor(
         address _coreDeployer,
         address _target0Deployer,
         address _target1Deployer,
         address _target2Deployer,
-        address _target3Deployer
+        address _target3Deployer,
+        address _target4Deployer
     )
         HyperdriveDeployerCoordinator(
             _coreDeployer,
             _target0Deployer,
             _target1Deployer,
             _target2Deployer,
-            _target3Deployer
+            _target3Deployer,
+            _target4Deployer
         )
     {}
 
-    /// @notice Deploys a Hyperdrive instance with the given parameters.
+    /// @notice Checks the pool configuration to ensure that it is valid.
     /// @param _deployConfig The deploy configuration of the Hyperdrive pool.
-    /// @param _extraData The extra data that contains the pool and sweep targets.
-    /// @return The address of the newly deployed ERC4626Hyperdrive Instance.
-    function deploy(
-        IHyperdrive.PoolDeployConfig memory _deployConfig,
-        bytes memory _extraData
-    ) public override returns (address) {
+    function _checkPoolConfig(
+        IHyperdrive.PoolDeployConfig memory _deployConfig
+    ) internal view override {
+        // Perform the default checks.
+        super._checkPoolConfig(_deployConfig);
+
         // Ensure that the minimum share reserves are large enough to meet the
         // minimum requirements for safety.
         //
@@ -52,7 +56,7 @@ contract ERC4626HyperdriveDeployerCoordinator is HyperdriveDeployerCoordinator {
             _deployConfig.minimumShareReserves <
             10 ** (_deployConfig.baseToken.decimals() - 4)
         ) {
-            revert IHyperdrive.InvalidMinimumShareReserves();
+            revert IHyperdriveDeployerCoordinator.InvalidMinimumShareReserves();
         }
 
         // Ensure that the minimum transaction amount is large enough to meet
@@ -64,11 +68,9 @@ contract ERC4626HyperdriveDeployerCoordinator is HyperdriveDeployerCoordinator {
             _deployConfig.minimumShareReserves <
             10 ** (_deployConfig.baseToken.decimals() - 4)
         ) {
-            revert IHyperdrive.InvalidMinimumTransactionAmount();
+            revert IHyperdriveDeployerCoordinator
+                .InvalidMinimumTransactionAmount();
         }
-
-        // Deploy the Hyperdrive instance.
-        return super.deploy(_deployConfig, _extraData);
     }
 
     /// @dev Gets the initial vault share price of the Hyperdrive pool.
diff --git a/contracts/src/deployers/erc4626/ERC4626Target0Deployer.sol b/contracts/src/deployers/erc4626/ERC4626Target0Deployer.sol
index ea69591ae..e1747d766 100644
--- a/contracts/src/deployers/erc4626/ERC4626Target0Deployer.sol
+++ b/contracts/src/deployers/erc4626/ERC4626Target0Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626Target0 } from "../../instances/erc4626/ERC4626Target0.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
@@ -16,13 +16,14 @@ contract ERC4626Target0Deployer is IHyperdriveTargetDeployer {
     /// @notice Deploys a target0 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
     /// @param _extraData The extra data that contains the pool and sweep targets.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed ERC4626Target0 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory _extraData
-    ) external override returns (address) {
-        // Deploy the ERC4626Target0 instance.
+        bytes memory _extraData,
+        bytes32 _salt
+    ) external returns (address) {
         IERC4626 vault = IERC4626(abi.decode(_extraData, (address)));
-        return address(new ERC4626Target0(_config, vault));
+        return address(new ERC4626Target0{ salt: _salt }(_config, vault));
     }
 }
diff --git a/contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol b/contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol
index 98404d0ac..1a6c1eb09 100644
--- a/contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol
+++ b/contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626Target1 } from "../../instances/erc4626/ERC4626Target1.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
@@ -16,13 +16,14 @@ contract ERC4626Target1Deployer is IHyperdriveTargetDeployer {
     /// @notice Deploys a target1 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
     /// @param _extraData The extra data that contains the pool and sweep targets.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed ERC4626Target1 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory _extraData
-    ) external override returns (address) {
-        // Deploy the ERC4626Target1 instance.
+        bytes memory _extraData,
+        bytes32 _salt
+    ) external returns (address) {
         IERC4626 vault = IERC4626(abi.decode(_extraData, (address)));
-        return address(new ERC4626Target1(_config, vault));
+        return address(new ERC4626Target1{ salt: _salt }(_config, vault));
     }
 }
diff --git a/contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol b/contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol
index 807584d0e..a592e1ae7 100644
--- a/contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol
+++ b/contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626Target2 } from "../../instances/erc4626/ERC4626Target2.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
@@ -16,13 +16,14 @@ contract ERC4626Target2Deployer is IHyperdriveTargetDeployer {
     /// @notice Deploys a target2 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
     /// @param _extraData The extra data that contains the pool and sweep targets.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed ERC4626Target2 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory _extraData
-    ) external override returns (address) {
-        // Deploy the ERC4626Target2 instance.
+        bytes memory _extraData,
+        bytes32 _salt
+    ) external returns (address) {
         IERC4626 vault = IERC4626(abi.decode(_extraData, (address)));
-        return address(new ERC4626Target2(_config, vault));
+        return address(new ERC4626Target2{ salt: _salt }(_config, vault));
     }
 }
diff --git a/contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol b/contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol
index 000d3abf7..45cbf3b44 100644
--- a/contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol
+++ b/contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626Target3 } from "../../instances/erc4626/ERC4626Target3.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
@@ -16,13 +16,14 @@ contract ERC4626Target3Deployer is IHyperdriveTargetDeployer {
     /// @notice Deploys a target3 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
     /// @param _extraData The extra data that contains the pool and sweep targets.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed ERC4626Target3 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory _extraData
-    ) external override returns (address) {
-        // Deploy the ERC4626Target3 instance.
+        bytes memory _extraData,
+        bytes32 _salt
+    ) external returns (address) {
         IERC4626 vault = IERC4626(abi.decode(_extraData, (address)));
-        return address(new ERC4626Target3(_config, vault));
+        return address(new ERC4626Target3{ salt: _salt }(_config, vault));
     }
 }
diff --git a/contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol b/contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol
new file mode 100644
index 000000000..cbb29a654
--- /dev/null
+++ b/contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol
@@ -0,0 +1,29 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.20;
+
+import { ERC4626Target4 } from "../../instances/erc4626/ERC4626Target4.sol";
+import { IERC4626 } from "../../interfaces/IERC4626.sol";
+import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
+import { IHyperdriveTargetDeployer } from "../../interfaces/IHyperdriveTargetDeployer.sol";
+
+/// @author DELV
+/// @title ERC4626Target4Deployer
+/// @notice The target4 deployer for the ERC4626Hyperdrive implementation.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+contract ERC4626Target4Deployer is IHyperdriveTargetDeployer {
+    /// @notice Deploys a target4 instance with the given parameters.
+    /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _extraData The extra data that contains the pool and sweep targets.
+    /// @param _salt The create2 salt used in the deployment.
+    /// @return The address of the newly deployed ERC4626Target4 Instance.
+    function deploy(
+        IHyperdrive.PoolConfig memory _config,
+        bytes memory _extraData,
+        bytes32 _salt
+    ) external returns (address) {
+        IERC4626 vault = IERC4626(abi.decode(_extraData, (address)));
+        return address(new ERC4626Target4{ salt: _salt }(_config, vault));
+    }
+}
diff --git a/contracts/src/deployers/steth/StETHHyperdriveCoreDeployer.sol b/contracts/src/deployers/steth/StETHHyperdriveCoreDeployer.sol
index c6b6ebd22..26eb0b534 100644
--- a/contracts/src/deployers/steth/StETHHyperdriveCoreDeployer.sol
+++ b/contracts/src/deployers/steth/StETHHyperdriveCoreDeployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
 import { IHyperdriveCoreDeployer } from "../../interfaces/IHyperdriveCoreDeployer.sol";
@@ -28,6 +28,8 @@ contract StETHHyperdriveCoreDeployer is IHyperdriveCoreDeployer {
     /// @param target1 The target1 address.
     /// @param target2 The target2 address.
     /// @param target3 The target3 address.
+    /// @param target4 The target4 address.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed StETHHyperdrive Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
@@ -35,16 +37,19 @@ contract StETHHyperdriveCoreDeployer is IHyperdriveCoreDeployer {
         address target0,
         address target1,
         address target2,
-        address target3
-    ) external override returns (address) {
+        address target3,
+        address target4,
+        bytes32 _salt
+    ) external returns (address) {
         return (
             address(
-                new StETHHyperdrive(
+                new StETHHyperdrive{ salt: _salt }(
                     _config,
                     target0,
                     target1,
                     target2,
                     target3,
+                    target4,
                     lido
                 )
             )
diff --git a/contracts/src/deployers/steth/StETHHyperdriveDeployerCoordinator.sol b/contracts/src/deployers/steth/StETHHyperdriveDeployerCoordinator.sol
index 412e03ae6..415180fca 100644
--- a/contracts/src/deployers/steth/StETHHyperdriveDeployerCoordinator.sol
+++ b/contracts/src/deployers/steth/StETHHyperdriveDeployerCoordinator.sol
@@ -1,6 +1,8 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
+import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
+import { IHyperdriveDeployerCoordinator } from "../../interfaces/IHyperdriveDeployerCoordinator.sol";
 import { ILido } from "../../interfaces/ILido.sol";
 import { FixedPointMath, ONE } from "../../libraries/FixedPointMath.sol";
 import { HyperdriveDeployerCoordinator } from "../HyperdriveDeployerCoordinator.sol";
@@ -23,6 +25,7 @@ contract StETHHyperdriveDeployerCoordinator is HyperdriveDeployerCoordinator {
     /// @param _target1Deployer The target1 deployer.
     /// @param _target2Deployer The target2 deployer.
     /// @param _target3Deployer The target3 deployer.
+    /// @param _target4Deployer The target4 deployer.
     /// @param _lido The Lido contract.
     constructor(
         address _coreDeployer,
@@ -30,6 +33,7 @@ contract StETHHyperdriveDeployerCoordinator is HyperdriveDeployerCoordinator {
         address _target1Deployer,
         address _target2Deployer,
         address _target3Deployer,
+        address _target4Deployer,
         ILido _lido
     )
         HyperdriveDeployerCoordinator(
@@ -37,12 +41,37 @@ contract StETHHyperdriveDeployerCoordinator is HyperdriveDeployerCoordinator {
             _target0Deployer,
             _target1Deployer,
             _target2Deployer,
-            _target3Deployer
+            _target3Deployer,
+            _target4Deployer
         )
     {
         lido = _lido;
     }
 
+    /// @notice Checks the pool configuration to ensure that it is valid.
+    /// @param _deployConfig The deploy configuration of the Hyperdrive pool.
+    function _checkPoolConfig(
+        IHyperdrive.PoolDeployConfig memory _deployConfig
+    ) internal view override {
+        // Perform the default checks.
+        super._checkPoolConfig(_deployConfig);
+
+        // Ensure that the minimum share reserves are equal to 1e15. This value
+        // has been tested to prevent arithmetic overflows in the
+        // `_updateLiquidity` function when the share reserves are as high as
+        // 200 million.
+        if (_deployConfig.minimumShareReserves != 1e15) {
+            revert IHyperdriveDeployerCoordinator.InvalidMinimumShareReserves();
+        }
+
+        // Ensure that the minimum transaction amount are equal to 1e15. This
+        // value has been tested to prevent precision issues.
+        if (_deployConfig.minimumTransactionAmount != 1e15) {
+            revert IHyperdriveDeployerCoordinator
+                .InvalidMinimumTransactionAmount();
+        }
+    }
+
     /// @dev Gets the initial vault share price of the Hyperdrive pool.
     /// @return The initial vault share price of the Hyperdrive pool.
     function _getInitialVaultSharePrice(
diff --git a/contracts/src/deployers/steth/StETHTarget0Deployer.sol b/contracts/src/deployers/steth/StETHTarget0Deployer.sol
index 7af308c09..08a2d91cd 100644
--- a/contracts/src/deployers/steth/StETHTarget0Deployer.sol
+++ b/contracts/src/deployers/steth/StETHTarget0Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { StETHTarget0 } from "../../instances/steth/StETHTarget0.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
@@ -24,12 +24,13 @@ contract StETHTarget0Deployer is IHyperdriveTargetDeployer {
 
     /// @notice Deploys a target0 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed StETHTarget0 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory // unused extra data
+        bytes memory, // unused extra data
+        bytes32 _salt
     ) external override returns (address) {
-        // Deploy the StETHTarget0 instance.
-        return address(new StETHTarget0(_config, lido));
+        return address(new StETHTarget0{ salt: _salt }(_config, lido));
     }
 }
diff --git a/contracts/src/deployers/steth/StETHTarget1Deployer.sol b/contracts/src/deployers/steth/StETHTarget1Deployer.sol
index 0cadc1b5d..9270b6a56 100644
--- a/contracts/src/deployers/steth/StETHTarget1Deployer.sol
+++ b/contracts/src/deployers/steth/StETHTarget1Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { StETHTarget1 } from "../../instances/steth/StETHTarget1.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
@@ -24,12 +24,13 @@ contract StETHTarget1Deployer is IHyperdriveTargetDeployer {
 
     /// @notice Deploys a target1 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed StETHTarget1 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory // unused extra data
-    ) external override returns (address) {
-        // Deploy the StETHTarget1 instance.
-        return address(new StETHTarget1(_config, lido));
+        bytes memory, // unused extra data
+        bytes32 _salt
+    ) external returns (address) {
+        return address(new StETHTarget1{ salt: _salt }(_config, lido));
     }
 }
diff --git a/contracts/src/deployers/steth/StETHTarget2Deployer.sol b/contracts/src/deployers/steth/StETHTarget2Deployer.sol
index fd320cfed..46a96b5f8 100644
--- a/contracts/src/deployers/steth/StETHTarget2Deployer.sol
+++ b/contracts/src/deployers/steth/StETHTarget2Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { StETHTarget2 } from "../../instances/steth/StETHTarget2.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
@@ -24,12 +24,13 @@ contract StETHTarget2Deployer is IHyperdriveTargetDeployer {
 
     /// @notice Deploys a target2 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed StETHTarget2 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory // unused extra data
-    ) external override returns (address) {
-        // Deploy the StETHTarget2 instance.
-        return address(new StETHTarget2(_config, lido));
+        bytes memory, // unused extra data
+        bytes32 _salt
+    ) external returns (address) {
+        return address(new StETHTarget2{ salt: _salt }(_config, lido));
     }
 }
diff --git a/contracts/src/deployers/steth/StETHTarget3Deployer.sol b/contracts/src/deployers/steth/StETHTarget3Deployer.sol
index b95b42725..d358339e3 100644
--- a/contracts/src/deployers/steth/StETHTarget3Deployer.sol
+++ b/contracts/src/deployers/steth/StETHTarget3Deployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { StETHTarget3 } from "../../instances/steth/StETHTarget3.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
@@ -24,12 +24,13 @@ contract StETHTarget3Deployer is IHyperdriveTargetDeployer {
 
     /// @notice Deploys a target3 instance with the given parameters.
     /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _salt The create2 salt used in the deployment.
     /// @return The address of the newly deployed StETHTarget3 Instance.
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory // unused extra data
-    ) external override returns (address) {
-        // Deploy the StETHTarget3 instance.
-        return address(new StETHTarget3(_config, lido));
+        bytes memory, // unused extra data
+        bytes32 _salt
+    ) external returns (address) {
+        return address(new StETHTarget3{ salt: _salt }(_config, lido));
     }
 }
diff --git a/contracts/src/deployers/steth/StETHTarget4Deployer.sol b/contracts/src/deployers/steth/StETHTarget4Deployer.sol
new file mode 100644
index 000000000..ee41f614a
--- /dev/null
+++ b/contracts/src/deployers/steth/StETHTarget4Deployer.sol
@@ -0,0 +1,36 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.20;
+
+import { StETHTarget4 } from "../../instances/steth/StETHTarget4.sol";
+import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
+import { IHyperdriveTargetDeployer } from "../../interfaces/IHyperdriveTargetDeployer.sol";
+import { ILido } from "../../interfaces/ILido.sol";
+
+/// @author DELV
+/// @title StETHTarget4Deployer
+/// @notice The target4 deployer for the StETHHyperdrive implementation.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+contract StETHTarget4Deployer is IHyperdriveTargetDeployer {
+    /// @notice The Lido contract.
+    ILido public immutable lido;
+
+    /// @notice Instanstiates the target4 deployer.
+    /// @param _lido The Lido contract.
+    constructor(ILido _lido) {
+        lido = _lido;
+    }
+
+    /// @notice Deploys a target4 instance with the given parameters.
+    /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _salt The create2 salt used in the deployment.
+    /// @return The address of the newly deployed StETHTarget4 Instance.
+    function deploy(
+        IHyperdrive.PoolConfig memory _config,
+        bytes memory, // unused extra data
+        bytes32 _salt
+    ) external returns (address) {
+        return address(new StETHTarget4{ salt: _salt }(_config, lido));
+    }
+}
diff --git a/contracts/src/external/Hyperdrive.sol b/contracts/src/external/Hyperdrive.sol
index 703e05a64..ce80eacf3 100644
--- a/contracts/src/external/Hyperdrive.sol
+++ b/contracts/src/external/Hyperdrive.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget0 } from "../external/HyperdriveTarget0.sol";
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
@@ -43,6 +43,10 @@ abstract contract Hyperdrive is
     ///         some stateful functions.
     address public immutable target3;
 
+    /// @notice The target4 address. This is a logic contract that contains all
+    ///         some stateful functions.
+    address public immutable target4;
+
     /// @notice The typehash used to calculate the EIP712 hash for `permitForAll`.
     bytes32 public constant PERMIT_TYPEHASH =
         keccak256(
@@ -58,18 +62,21 @@ abstract contract Hyperdrive is
     /// @param _target1 The target1 address.
     /// @param _target2 The target2 address.
     /// @param _target3 The target3 address.
+    /// @param _target4 The target4 address.
     constructor(
         IHyperdrive.PoolConfig memory _config,
         address _target0,
         address _target1,
         address _target2,
-        address _target3
+        address _target3,
+        address _target4
     ) HyperdriveStorage(_config) {
         // Initialize the target contracts.
         target0 = _target0;
         target1 = _target1;
         target2 = _target2;
         target3 = _target3;
+        target4 = _target4;
 
         // NOTE: It's convenient to keep this in the `Hyperdrive.sol`
         //       entry-point to avoiding issues with initializing the domain
@@ -127,7 +134,7 @@ abstract contract Hyperdrive is
         uint256,
         IHyperdrive.Options calldata
     ) external payable returns (uint256, uint256) {
-        _delegate(target2);
+        _delegate(target3);
     }
 
     /// @notice Closes a long position with a specified maturity time.
@@ -137,7 +144,7 @@ abstract contract Hyperdrive is
         uint256,
         IHyperdrive.Options calldata
     ) external returns (uint256) {
-        _delegate(target3);
+        _delegate(target2);
     }
 
     /// Shorts ///
@@ -149,7 +156,7 @@ abstract contract Hyperdrive is
         uint256,
         IHyperdrive.Options calldata
     ) external payable returns (uint256, uint256) {
-        _delegate(target2);
+        _delegate(target4);
     }
 
     /// @notice Closes a short position with a specified maturity time.
@@ -159,7 +166,7 @@ abstract contract Hyperdrive is
         uint256,
         IHyperdrive.Options calldata
     ) external returns (uint256) {
-        _delegate(target3);
+        _delegate(target2);
     }
 
     /// LPs ///
@@ -209,7 +216,7 @@ abstract contract Hyperdrive is
 
     /// @notice Allows anyone to mint a new checkpoint.
     function checkpoint(uint256) external {
-        _delegate(target3);
+        _delegate(target2);
     }
 
     /// Admin ///
diff --git a/contracts/src/external/HyperdriveTarget0.sol b/contracts/src/external/HyperdriveTarget0.sol
index 187fa8338..6fa16f751 100644
--- a/contracts/src/external/HyperdriveTarget0.sol
+++ b/contracts/src/external/HyperdriveTarget0.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveRead } from "../interfaces/IHyperdriveRead.sol";
diff --git a/contracts/src/external/HyperdriveTarget1.sol b/contracts/src/external/HyperdriveTarget1.sol
index 4e5a74c41..2d3e7c2b7 100644
--- a/contracts/src/external/HyperdriveTarget1.sol
+++ b/contracts/src/external/HyperdriveTarget1.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { HyperdriveAdmin } from "../internal/HyperdriveAdmin.sol";
diff --git a/contracts/src/external/HyperdriveTarget2.sol b/contracts/src/external/HyperdriveTarget2.sol
index 5c45fbf96..9db256f69 100644
--- a/contracts/src/external/HyperdriveTarget2.sol
+++ b/contracts/src/external/HyperdriveTarget2.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { HyperdriveAdmin } from "../internal/HyperdriveAdmin.sol";
@@ -32,43 +32,43 @@ abstract contract HyperdriveTarget2 is
 
     /// Longs ///
 
-    /// @notice Opens a long position.
-    /// @param _baseAmount The amount of base to use when trading.
-    /// @param _minOutput The minium number of bonds to receive.
-    /// @param _minVaultSharePrice The minium share price at which to open the long.
-    ///        This allows traders to protect themselves from opening a long in
-    ///        a checkpoint where negative interest has accrued.
+    /// @notice Closes a long position with a specified maturity time.
+    /// @param _maturityTime The maturity time of the short.
+    /// @param _bondAmount The amount of longs to close.
+    /// @param _minOutput The minimum amount of base the trader will accept.
     /// @param _options The options that configure how the trade is settled.
-    /// @return maturityTime The maturity time of the bonds.
-    /// @return bondProceeds The amount of bonds the user received.
-    function openLong(
-        uint256 _baseAmount,
+    /// @return The amount of underlying the user receives.
+    function closeLong(
+        uint256 _maturityTime,
+        uint256 _bondAmount,
         uint256 _minOutput,
-        uint256 _minVaultSharePrice,
         IHyperdrive.Options calldata _options
-    ) external payable returns (uint256 maturityTime, uint256 bondProceeds) {
-        return
-            _openLong(_baseAmount, _minOutput, _minVaultSharePrice, _options);
+    ) external returns (uint256) {
+        return _closeLong(_maturityTime, _bondAmount, _minOutput, _options);
     }
 
     /// Shorts ///
 
-    /// @notice Opens a short position.
-    /// @param _bondAmount The amount of bonds to short.
-    /// @param _maxDeposit The most the user expects to deposit for this trade
-    /// @param _minVaultSharePrice The minium share price at which to open the long.
-    ///        This allows traders to protect themselves from opening a long in
-    ///        a checkpoint where negative interest has accrued.
+    /// @notice Closes a short position with a specified maturity time.
+    /// @param _maturityTime The maturity time of the short.
+    /// @param _bondAmount The amount of shorts to close.
+    /// @param _minOutput The minimum output of this trade.
     /// @param _options The options that configure how the trade is settled.
-    /// @return maturityTime The maturity time of the short.
-    /// @return traderDeposit The amount the user deposited for this trade.
-    function openShort(
+    /// @return The amount of base tokens produced by closing this short.
+    function closeShort(
+        uint256 _maturityTime,
         uint256 _bondAmount,
-        uint256 _maxDeposit,
-        uint256 _minVaultSharePrice,
+        uint256 _minOutput,
         IHyperdrive.Options calldata _options
-    ) external payable returns (uint256 maturityTime, uint256 traderDeposit) {
-        return
-            _openShort(_bondAmount, _maxDeposit, _minVaultSharePrice, _options);
+    ) external returns (uint256) {
+        return _closeShort(_maturityTime, _bondAmount, _minOutput, _options);
+    }
+
+    /// Checkpoints ///
+
+    /// @notice Allows anyone to mint a new checkpoint.
+    /// @param _checkpointTime The time of the checkpoint to create.
+    function checkpoint(uint256 _checkpointTime) external {
+        _checkpoint(_checkpointTime);
     }
 }
diff --git a/contracts/src/external/HyperdriveTarget3.sol b/contracts/src/external/HyperdriveTarget3.sol
index 64ea06085..ea23993bd 100644
--- a/contracts/src/external/HyperdriveTarget3.sol
+++ b/contracts/src/external/HyperdriveTarget3.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { HyperdriveAdmin } from "../internal/HyperdriveAdmin.sol";
@@ -32,43 +32,22 @@ abstract contract HyperdriveTarget3 is
 
     /// Longs ///
 
-    /// @notice Closes a long position with a specified maturity time.
-    /// @param _maturityTime The maturity time of the short.
-    /// @param _bondAmount The amount of longs to close.
-    /// @param _minOutput The minimum amount of base the trader will accept.
+    /// @notice Opens a long position.
+    /// @param _baseAmount The amount of base to use when trading.
+    /// @param _minOutput The minium number of bonds to receive.
+    /// @param _minVaultSharePrice The minium share price at which to open the long.
+    ///        This allows traders to protect themselves from opening a long in
+    ///        a checkpoint where negative interest has accrued.
     /// @param _options The options that configure how the trade is settled.
-    /// @return The amount of underlying the user receives.
-    function closeLong(
-        uint256 _maturityTime,
-        uint256 _bondAmount,
+    /// @return maturityTime The maturity time of the bonds.
+    /// @return bondProceeds The amount of bonds the user received.
+    function openLong(
+        uint256 _baseAmount,
         uint256 _minOutput,
+        uint256 _minVaultSharePrice,
         IHyperdrive.Options calldata _options
-    ) external returns (uint256) {
-        return _closeLong(_maturityTime, _bondAmount, _minOutput, _options);
-    }
-
-    /// Shorts ///
-
-    /// @notice Closes a short position with a specified maturity time.
-    /// @param _maturityTime The maturity time of the short.
-    /// @param _bondAmount The amount of shorts to close.
-    /// @param _minOutput The minimum output of this trade.
-    /// @param _options The options that configure how the trade is settled.
-    /// @return The amount of base tokens produced by closing this short.
-    function closeShort(
-        uint256 _maturityTime,
-        uint256 _bondAmount,
-        uint256 _minOutput,
-        IHyperdrive.Options calldata _options
-    ) external returns (uint256) {
-        return _closeShort(_maturityTime, _bondAmount, _minOutput, _options);
-    }
-
-    /// Checkpoints ///
-
-    /// @notice Allows anyone to mint a new checkpoint.
-    /// @param _checkpointTime The time of the checkpoint to create.
-    function checkpoint(uint256 _checkpointTime) external {
-        _checkpoint(_checkpointTime);
+    ) external payable returns (uint256 maturityTime, uint256 bondProceeds) {
+        return
+            _openLong(_baseAmount, _minOutput, _minVaultSharePrice, _options);
     }
 }
diff --git a/contracts/src/external/HyperdriveTarget4.sol b/contracts/src/external/HyperdriveTarget4.sol
new file mode 100644
index 000000000..a817fde74
--- /dev/null
+++ b/contracts/src/external/HyperdriveTarget4.sol
@@ -0,0 +1,53 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.20;
+
+import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
+import { HyperdriveAdmin } from "../internal/HyperdriveAdmin.sol";
+import { HyperdriveCheckpoint } from "../internal/HyperdriveCheckpoint.sol";
+import { HyperdriveLong } from "../internal/HyperdriveLong.sol";
+import { HyperdriveLP } from "../internal/HyperdriveLP.sol";
+import { HyperdriveMultiToken } from "../internal/HyperdriveMultiToken.sol";
+import { HyperdriveShort } from "../internal/HyperdriveShort.sol";
+import { HyperdriveStorage } from "../internal/HyperdriveStorage.sol";
+
+/// @author DELV
+/// @title HyperdriveTarget4
+/// @notice Hyperdrive's target 4 logic contract.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+abstract contract HyperdriveTarget4 is
+    HyperdriveAdmin,
+    HyperdriveMultiToken,
+    HyperdriveLP,
+    HyperdriveLong,
+    HyperdriveShort,
+    HyperdriveCheckpoint
+{
+    /// @notice Instantiates target4.
+    /// @param _config The configuration of the Hyperdrive pool.
+    constructor(
+        IHyperdrive.PoolConfig memory _config
+    ) HyperdriveStorage(_config) {}
+
+    /// Shorts ///
+
+    /// @notice Opens a short position.
+    /// @param _bondAmount The amount of bonds to short.
+    /// @param _maxDeposit The most the user expects to deposit for this trade
+    /// @param _minVaultSharePrice The minium share price at which to open the long.
+    ///        This allows traders to protect themselves from opening a long in
+    ///        a checkpoint where negative interest has accrued.
+    /// @param _options The options that configure how the trade is settled.
+    /// @return maturityTime The maturity time of the short.
+    /// @return traderDeposit The amount the user deposited for this trade.
+    function openShort(
+        uint256 _bondAmount,
+        uint256 _maxDeposit,
+        uint256 _minVaultSharePrice,
+        IHyperdrive.Options calldata _options
+    ) external payable returns (uint256 maturityTime, uint256 traderDeposit) {
+        return
+            _openShort(_bondAmount, _maxDeposit, _minVaultSharePrice, _options);
+    }
+}
diff --git a/contracts/src/factory/HyperdriveFactory.sol b/contracts/src/factory/HyperdriveFactory.sol
index c1b9c44ee..70dac1a26 100644
--- a/contracts/src/factory/HyperdriveFactory.sol
+++ b/contracts/src/factory/HyperdriveFactory.sol
@@ -1,11 +1,11 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
-import { ERC20 } from "solmate/tokens/ERC20.sol";
-import { SafeTransferLib } from "solmate/utils/SafeTransferLib.sol";
+import { ERC20 } from "openzeppelin/token/ERC20/ERC20.sol";
+import { SafeERC20 } from "openzeppelin/token/ERC20/utils/SafeERC20.sol";
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveFactory } from "../interfaces/IHyperdriveFactory.sol";
-import { IDeployerCoordinator } from "../interfaces/IDeployerCoordinator.sol";
+import { IHyperdriveDeployerCoordinator } from "../interfaces/IHyperdriveDeployerCoordinator.sol";
 import { FixedPointMath, ONE } from "../libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "../libraries/HyperdriveMath.sol";
 
@@ -18,7 +18,7 @@ import { HyperdriveMath } from "../libraries/HyperdriveMath.sol";
 ///                    particular legal or regulatory significance.
 contract HyperdriveFactory is IHyperdriveFactory {
     using FixedPointMath for uint256;
-    using SafeTransferLib for ERC20;
+    using SafeERC20 for ERC20;
 
     /// @notice The resolution for the checkpoint duration. Every checkpoint
     ///         duration must be a multiple of this resolution.
@@ -568,131 +568,56 @@ contract HyperdriveFactory is IHyperdriveFactory {
     /// @dev This function is declared as payable to allow payable overrides
     ///      to accept ether on initialization, but payability is not supported
     ///      by default.
+    /// @param _deploymentId The deployment ID to use when deploying the pool.
     /// @param _deployerCoordinator The deployer coordinator to use in this
     ///        deployment.
-    /// @param _deployConfig The deploy configuration of the Hyperdrive pool.
+    /// @param _config The configuration of the Hyperdrive pool.
     /// @param _extraData The extra data that contains data necessary for the
     ///        specific deployer.
     /// @param _contribution The contribution amount in base to the pool.
     /// @param _fixedAPR The fixed APR used to initialize the pool.
     /// @param _timeStretchAPR The time stretch APR used to initialize the pool.
     /// @param _initializeExtraData The extra data for the `initialize` call.
+    /// @param _salt The create2 salt to use for the deployment.
     /// @return The hyperdrive address deployed.
     function deployAndInitialize(
+        bytes32 _deploymentId,
         address _deployerCoordinator,
-        IHyperdrive.PoolDeployConfig memory _deployConfig,
+        IHyperdrive.PoolDeployConfig memory _config,
         bytes memory _extraData,
         uint256 _contribution,
         uint256 _fixedAPR,
         uint256 _timeStretchAPR,
-        bytes memory _initializeExtraData
-    ) public payable virtual returns (IHyperdrive) {
-        // Ensure that the target deployer has been registered.
+        bytes memory _initializeExtraData,
+        bytes32 _salt
+    ) external payable returns (IHyperdrive) {
+        // Ensure that the deployer coordinator has been registered.
         if (!isDeployerCoordinator[_deployerCoordinator]) {
             revert IHyperdriveFactory.InvalidDeployerCoordinator();
         }
 
-        // Ensure that the specified checkpoint duration is within the minimum
-        // and maximum checkpoint durations and is a multiple of the checkpoint
-        // duration resolution.
-        if (
-            _deployConfig.checkpointDuration < minCheckpointDuration ||
-            _deployConfig.checkpointDuration > maxCheckpointDuration ||
-            _deployConfig.checkpointDuration % checkpointDurationResolution != 0
-        ) {
-            revert IHyperdriveFactory.InvalidCheckpointDuration();
-        }
-
-        // Ensure that the specified checkpoint duration is within the minimum
-        // and maximum position durations and is a multiple of the specified
-        // checkpoint duration.
-        if (
-            _deployConfig.positionDuration < minPositionDuration ||
-            _deployConfig.positionDuration > maxPositionDuration ||
-            _deployConfig.positionDuration % _deployConfig.checkpointDuration !=
-            0
-        ) {
-            revert IHyperdriveFactory.InvalidPositionDuration();
-        }
+        // Override the config values to the default values set by governance
+        // and ensure that the config is valid.
+        _overrideConfig(_config, _fixedAPR, _timeStretchAPR);
 
-        // Ensure that the specified fees are within the minimum and maximum fees.
-        if (
-            _deployConfig.fees.curve > _maxFees.curve ||
-            _deployConfig.fees.flat > _maxFees.flat ||
-            _deployConfig.fees.governanceLP > _maxFees.governanceLP ||
-            _deployConfig.fees.governanceZombie > _maxFees.governanceZombie ||
-            _deployConfig.fees.curve < _minFees.curve ||
-            _deployConfig.fees.flat < _minFees.flat ||
-            _deployConfig.fees.governanceLP < _minFees.governanceLP ||
-            _deployConfig.fees.governanceZombie < _minFees.governanceZombie
-        ) {
-            revert IHyperdriveFactory.InvalidFees();
-        }
-
-        // Ensure that the linker factory, linker code hash, fee collector,
-        // and governance addresses aren't set. This ensures that the
-        // deployer isn't trying to set these values.
-        if (
-            _deployConfig.governance != address(0) ||
-            _deployConfig.feeCollector != address(0) ||
-            _deployConfig.linkerFactory != address(0) ||
-            _deployConfig.linkerCodeHash != bytes32(0) ||
-            _deployConfig.timeStretch != 0
-        ) {
-            revert IHyperdriveFactory.InvalidDeployConfig();
-        }
-
-        // Ensure that specified fixed APR is within the minimum and maximum
-        // fixed APRs.
-        if (_fixedAPR < minFixedAPR || _fixedAPR > maxFixedAPR) {
-            revert IHyperdriveFactory.InvalidFixedAPR();
-        }
-
-        // Calculate the time stretch using the provided APR and ensure that
-        // the time stretch falls within a safe range and the guards specified
-        // by governance.
-        uint256 lowerBound = _fixedAPR.divDown(2e18).max(0.005e18);
-        if (
-            _timeStretchAPR < minTimeStretchAPR.max(lowerBound) ||
-            _timeStretchAPR >
-            maxTimeStretchAPR.min(_fixedAPR.max(lowerBound).mulDown(2e18))
-        ) {
-            revert IHyperdriveFactory.InvalidTimeStretchAPR();
-        }
-        uint256 timeStretch = HyperdriveMath.calculateTimeStretch(
-            _timeStretchAPR,
-            _deployConfig.positionDuration
-        );
-
-        // Override the config values to the default values set by governance.
-        // The factory assumes the governance role during deployment so that it
-        // can set up some initial values; however the governance role will
-        // ultimately be transferred to the hyperdrive governance address.
-        _deployConfig.governance = address(this);
-        _deployConfig.feeCollector = feeCollector;
-        _deployConfig.linkerFactory = linkerFactory;
-        _deployConfig.linkerCodeHash = linkerCodeHash;
-        _deployConfig.timeStretch = timeStretch;
-
-        // Deploy the Hyperdrive instance with the specified Hyperdrive
-        // deployer.
+        // Deploy the Hyperdrive instance with the specified deployer
+        // coordinator.
         IHyperdrive hyperdrive = IHyperdrive(
-            IDeployerCoordinator(_deployerCoordinator).deploy(
-                _deployConfig,
-                _extraData
+            IHyperdriveDeployerCoordinator(_deployerCoordinator).deploy(
+                // NOTE: We hash the deployer's address into the deployment ID
+                // to prevent their deployment from being front-run.
+                keccak256(abi.encode(msg.sender, _deploymentId)),
+                _config,
+                _extraData,
+                _salt
             )
         );
 
         // Add this instance to the registry and emit an event with the
         // deployment configuration.
         isOfficial[address(hyperdrive)] = versionCounter;
-        _deployConfig.governance = hyperdriveGovernance;
-        emit Deployed(
-            versionCounter,
-            address(hyperdrive),
-            _deployConfig,
-            _extraData
-        );
+        _config.governance = hyperdriveGovernance;
+        emit Deployed(versionCounter, address(hyperdrive), _config, _extraData);
 
         // Add the newly deployed Hyperdrive instance to the registry.
         _instances.push(address(hyperdrive));
@@ -721,12 +646,12 @@ contract HyperdriveFactory is IHyperdriveFactory {
 
             // Transfer the contribution to this contract and set an approval
             // on Hyperdrive to prepare for initialization.
-            ERC20(address(_deployConfig.baseToken)).safeTransferFrom(
+            ERC20(address(_config.baseToken)).safeTransferFrom(
                 msg.sender,
                 address(this),
                 _contribution
             );
-            ERC20(address(_deployConfig.baseToken)).safeApprove(
+            ERC20(address(_config.baseToken)).forceApprove(
                 address(hyperdrive),
                 _contribution
             );
@@ -764,6 +689,52 @@ contract HyperdriveFactory is IHyperdriveFactory {
         return hyperdrive;
     }
 
+    /// @notice Deploys a Hyperdrive target with the factory's configuration.
+    /// @param _deploymentId The deployment ID to use when deploying the pool.
+    /// @param _deployerCoordinator The deployer coordinator to use in this
+    ///        deployment.
+    /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _extraData The extra data that contains data necessary for the
+    ///        specific deployer.
+    /// @param _fixedAPR The fixed APR used to initialize the pool.
+    /// @param _timeStretchAPR The time stretch APR used to initialize the pool.
+    /// @param _targetIndex The index of the target to deploy.
+    /// @param _salt The create2 salt to use for the deployment.
+    /// @return The target address deployed.
+    function deployTarget(
+        bytes32 _deploymentId,
+        address _deployerCoordinator,
+        IHyperdrive.PoolDeployConfig memory _config,
+        bytes memory _extraData,
+        uint256 _fixedAPR,
+        uint256 _timeStretchAPR,
+        uint256 _targetIndex,
+        bytes32 _salt
+    ) external returns (address) {
+        // Ensure that the deployer coordinator has been registered.
+        if (!isDeployerCoordinator[_deployerCoordinator]) {
+            revert IHyperdriveFactory.InvalidDeployerCoordinator();
+        }
+
+        // Override the config values to the default values set by governance
+        // and ensure that the config is valid.
+        _overrideConfig(_config, _fixedAPR, _timeStretchAPR);
+
+        // Deploy the target instance with the specified deployer coordinator.
+        address target = IHyperdriveDeployerCoordinator(_deployerCoordinator)
+            .deployTarget(
+                // NOTE: We hash the deployer's address into the deployment ID
+                // to prevent their deployment from being front-run.
+                keccak256(abi.encode(msg.sender, _deploymentId)),
+                _config,
+                _extraData,
+                _targetIndex,
+                _salt
+            );
+
+        return target;
+    }
+
     /// @notice Gets the max fees.
     /// @return The max fees.
     function maxFees() external view returns (IHyperdrive.Fees memory) {
@@ -857,4 +828,97 @@ contract HyperdriveFactory is IHyperdriveFactory {
             range[i - startIndex] = _deployerCoordinators[i];
         }
     }
+
+    /// @dev Overrides the config values to the default values set by
+    ///      governance. In the process of overriding these parameters, this
+    ///      verifies that the specified config is valid.
+    /// @param _config The config to override.
+    /// @param _fixedAPR The fixed APR to use in the override.
+    /// @param _timeStretchAPR The time stretch APR to use in the override.
+    function _overrideConfig(
+        IHyperdrive.PoolDeployConfig memory _config,
+        uint256 _fixedAPR,
+        uint256 _timeStretchAPR
+    ) internal view {
+        // Ensure that the specified checkpoint duration is within the minimum
+        // and maximum checkpoint durations and is a multiple of the checkpoint
+        // duration resolution.
+        if (
+            _config.checkpointDuration < minCheckpointDuration ||
+            _config.checkpointDuration > maxCheckpointDuration ||
+            _config.checkpointDuration % checkpointDurationResolution != 0
+        ) {
+            revert IHyperdriveFactory.InvalidCheckpointDuration();
+        }
+
+        // Ensure that the specified checkpoint duration is within the minimum
+        // and maximum position durations and is a multiple of the specified
+        // checkpoint duration.
+        if (
+            _config.positionDuration < minPositionDuration ||
+            _config.positionDuration > maxPositionDuration ||
+            _config.positionDuration % _config.checkpointDuration != 0
+        ) {
+            revert IHyperdriveFactory.InvalidPositionDuration();
+        }
+
+        // Ensure that the specified fees are within the minimum and maximum fees.
+        if (
+            _config.fees.curve > _maxFees.curve ||
+            _config.fees.flat > _maxFees.flat ||
+            _config.fees.governanceLP > _maxFees.governanceLP ||
+            _config.fees.governanceZombie > _maxFees.governanceZombie ||
+            _config.fees.curve < _minFees.curve ||
+            _config.fees.flat < _minFees.flat ||
+            _config.fees.governanceLP < _minFees.governanceLP ||
+            _config.fees.governanceZombie < _minFees.governanceZombie
+        ) {
+            revert IHyperdriveFactory.InvalidFees();
+        }
+
+        // Ensure that the linker factory, linker code hash, fee collector, and
+        // governance addresses and time stretch aren't set. This ensures that
+        // the deployer isn't trying to set these values.
+        if (
+            _config.linkerFactory != address(0) ||
+            _config.linkerCodeHash != bytes32(0) ||
+            _config.feeCollector != address(0) ||
+            _config.governance != address(0) ||
+            _config.timeStretch != 0
+        ) {
+            revert IHyperdriveFactory.InvalidDeployConfig();
+        }
+
+        // Ensure that specified fixed APR is within the minimum and maximum
+        // fixed APRs.
+        if (_fixedAPR < minFixedAPR || _fixedAPR > maxFixedAPR) {
+            revert IHyperdriveFactory.InvalidFixedAPR();
+        }
+
+        // Calculate the time stretch using the provided APR and ensure that
+        // the time stretch falls within a safe range and the guards specified
+        // by governance.
+        uint256 lowerBound = _fixedAPR.divDown(2e18).max(0.005e18);
+        if (
+            _timeStretchAPR < minTimeStretchAPR.max(lowerBound) ||
+            _timeStretchAPR >
+            maxTimeStretchAPR.min(_fixedAPR.max(lowerBound).mulDown(2e18))
+        ) {
+            revert IHyperdriveFactory.InvalidTimeStretchAPR();
+        }
+        uint256 timeStretch = HyperdriveMath.calculateTimeStretch(
+            _timeStretchAPR,
+            _config.positionDuration
+        );
+
+        // Override the config values to the default values set by governance.
+        // The factory assumes the governance role during deployment so that it
+        // can set up some initial values; however the governance role will
+        // ultimately be transferred to the hyperdrive governance address.
+        _config.linkerFactory = linkerFactory;
+        _config.linkerCodeHash = linkerCodeHash;
+        _config.feeCollector = feeCollector;
+        _config.governance = address(this);
+        _config.timeStretch = timeStretch;
+    }
 }
diff --git a/contracts/src/factory/HyperdriveRegistry.sol b/contracts/src/factory/HyperdriveRegistry.sol
index 37c4b2f01..ba54ecbf9 100644
--- a/contracts/src/factory/HyperdriveRegistry.sol
+++ b/contracts/src/factory/HyperdriveRegistry.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveGovernedRegistry } from "../interfaces/IHyperdriveGovernedRegistry.sol";
@@ -11,7 +11,7 @@ contract HyperdriveRegistry is
 {
     address public governance;
 
-    mapping(address hyperdrive => uint256 data) _hyperdriveInfo;
+    mapping(address hyperdrive => uint256 data) internal _hyperdriveInfo;
 
     constructor() {
         governance = msg.sender;
diff --git a/contracts/src/instances/erc4626/ERC4626Base.sol b/contracts/src/instances/erc4626/ERC4626Base.sol
index 105955642..a80047f6a 100644
--- a/contracts/src/instances/erc4626/ERC4626Base.sol
+++ b/contracts/src/instances/erc4626/ERC4626Base.sol
@@ -1,8 +1,8 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
-import { ERC20 } from "solmate/tokens/ERC20.sol";
-import { SafeTransferLib } from "solmate/utils/SafeTransferLib.sol";
+import { ERC20 } from "openzeppelin/token/ERC20/ERC20.sol";
+import { SafeERC20 } from "openzeppelin/token/ERC20/utils/SafeERC20.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
 import { IERC4626Hyperdrive } from "../../interfaces/IERC4626Hyperdrive.sol";
@@ -17,7 +17,7 @@ import { FixedPointMath, ONE } from "../../libraries/FixedPointMath.sol";
 ///                    particular legal or regulatory significance.
 abstract contract ERC4626Base is HyperdriveBase {
     using FixedPointMath for uint256;
-    using SafeTransferLib for ERC20;
+    using SafeERC20 for ERC20;
 
     /// @dev The ERC4626 vault that this pool uses as a yield source.
     IERC4626 internal immutable _vault;
@@ -58,7 +58,14 @@ abstract contract ERC4626Base is HyperdriveBase {
             );
 
             // Deposit the base into the yield source.
-            ERC20(address(_baseToken)).safeApprove(address(_vault), _amount);
+            //
+            // NOTE: We increase the required approval amount by 1 wei so that
+            // the vault ends with an approval of 1 wei. This makes future
+            // approvals cheaper by keeping the storage slot warm.
+            ERC20(address(_baseToken)).forceApprove(
+                address(_vault),
+                _amount + 1
+            );
             sharesMinted = _vault.deposit(_amount, address(this));
         } else {
             // WARN: This logic doesn't account for slippage in the conversion
diff --git a/contracts/src/instances/erc4626/ERC4626Hyperdrive.sol b/contracts/src/instances/erc4626/ERC4626Hyperdrive.sol
index 1e7ad80b4..a4fbdb0a8 100644
--- a/contracts/src/instances/erc4626/ERC4626Hyperdrive.sol
+++ b/contracts/src/instances/erc4626/ERC4626Hyperdrive.sol
@@ -1,8 +1,8 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
-import { ERC20 } from "solmate/tokens/ERC20.sol";
-import { SafeTransferLib } from "solmate/utils/SafeTransferLib.sol";
+import { ERC20 } from "openzeppelin/token/ERC20/ERC20.sol";
+import { SafeERC20 } from "openzeppelin/token/ERC20/utils/SafeERC20.sol";
 import { Hyperdrive } from "../../external/Hyperdrive.sol";
 import { IERC20 } from "../../interfaces/IERC20.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
@@ -19,7 +19,7 @@ import { ERC4626Base } from "./ERC4626Base.sol";
 ///                    particular legal or regulatory significance.
 contract ERC4626Hyperdrive is Hyperdrive, ERC4626Base {
     using FixedPointMath for uint256;
-    using SafeTransferLib for ERC20;
+    using SafeERC20 for ERC20;
 
     /// @notice Instantiates Hyperdrive with a ERC4626 vault as the yield source.
     /// @param _config The configuration of the Hyperdrive pool.
@@ -27,6 +27,7 @@ contract ERC4626Hyperdrive is Hyperdrive, ERC4626Base {
     /// @param _target1 The target1 address.
     /// @param _target2 The target2 address.
     /// @param _target3 The target3 address.
+    /// @param _target4 The target4 address.
     /// @param __vault The ERC4626 compatible yield source.
     constructor(
         IHyperdrive.PoolConfig memory _config,
@@ -34,23 +35,12 @@ contract ERC4626Hyperdrive is Hyperdrive, ERC4626Base {
         address _target1,
         address _target2,
         address _target3,
+        address _target4,
         IERC4626 __vault
     )
-        Hyperdrive(_config, _target0, _target1, _target2, _target3)
+        Hyperdrive(_config, _target0, _target1, _target2, _target3, _target4)
         ERC4626Base(__vault)
     {
-        // Ensure that the initial vault share price is properly configured.
-        //
-        // WARN: ERC4626 implementations should be checked that if they use an
-        // asset with decimals less than 18 that the preview deposit is scale
-        // invariant. EG - because this line uses a very large query to load
-        // price for USDC if the price per vault share changes based on size of
-        // deposit then this line will read an incorrect and possibly dangerous
-        // price.
-        if (_config.initialVaultSharePrice != _pricePerVaultShare()) {
-            revert IHyperdrive.InvalidInitialVaultSharePrice();
-        }
-
         // Ensure that the base token is the same as the vault's underlying
         // asset.
         if (address(_config.baseToken) != IERC4626(_vault).asset()) {
@@ -59,7 +49,7 @@ contract ERC4626Hyperdrive is Hyperdrive, ERC4626Base {
 
         // Approve the base token with 1 wei. This ensures that all of the
         // subsequent approvals will be writing to a dirty storage slot.
-        ERC20(address(_config.baseToken)).safeApprove(address(_vault), 1);
+        ERC20(address(_config.baseToken)).forceApprove(address(_vault), 1);
     }
 
     /// @notice Some yield sources [eg Morpho] pay rewards directly to this
diff --git a/contracts/src/instances/erc4626/ERC4626Target0.sol b/contracts/src/instances/erc4626/ERC4626Target0.sol
index 5060e238e..cde00b468 100644
--- a/contracts/src/instances/erc4626/ERC4626Target0.sol
+++ b/contracts/src/instances/erc4626/ERC4626Target0.sol
@@ -1,8 +1,8 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
-import { ERC20 } from "solmate/tokens/ERC20.sol";
-import { SafeTransferLib } from "solmate/utils/SafeTransferLib.sol";
+import { ERC20 } from "openzeppelin/token/ERC20/ERC20.sol";
+import { SafeERC20 } from "openzeppelin/token/ERC20/utils/SafeERC20.sol";
 import { HyperdriveTarget0 } from "../../external/HyperdriveTarget0.sol";
 import { IERC20 } from "../../interfaces/IERC20.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
@@ -18,7 +18,7 @@ import { ERC4626Base } from "./ERC4626Base.sol";
 ///                    only, and is not intended to, and does not, have any
 ///                    particular legal or regulatory significance.
 contract ERC4626Target0 is HyperdriveTarget0, ERC4626Base {
-    using SafeTransferLib for ERC20;
+    using SafeERC20 for ERC20;
 
     /// @notice Initializes the target0 contract.
     /// @param _config The configuration of the Hyperdrive pool.
diff --git a/contracts/src/instances/erc4626/ERC4626Target1.sol b/contracts/src/instances/erc4626/ERC4626Target1.sol
index a24181757..da92256ed 100644
--- a/contracts/src/instances/erc4626/ERC4626Target1.sol
+++ b/contracts/src/instances/erc4626/ERC4626Target1.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget1 } from "../../external/HyperdriveTarget1.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
diff --git a/contracts/src/instances/erc4626/ERC4626Target2.sol b/contracts/src/instances/erc4626/ERC4626Target2.sol
index 6f2ad54a2..a7c09a3db 100644
--- a/contracts/src/instances/erc4626/ERC4626Target2.sol
+++ b/contracts/src/instances/erc4626/ERC4626Target2.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget2 } from "../../external/HyperdriveTarget2.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
diff --git a/contracts/src/instances/erc4626/ERC4626Target3.sol b/contracts/src/instances/erc4626/ERC4626Target3.sol
index 1f4f8b81b..c51e68da6 100644
--- a/contracts/src/instances/erc4626/ERC4626Target3.sol
+++ b/contracts/src/instances/erc4626/ERC4626Target3.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget3 } from "../../external/HyperdriveTarget3.sol";
 import { IERC4626 } from "../../interfaces/IERC4626.sol";
diff --git a/contracts/src/instances/erc4626/ERC4626Target4.sol b/contracts/src/instances/erc4626/ERC4626Target4.sol
new file mode 100644
index 000000000..db654cc2e
--- /dev/null
+++ b/contracts/src/instances/erc4626/ERC4626Target4.sol
@@ -0,0 +1,25 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.20;
+
+import { HyperdriveTarget4 } from "../../external/HyperdriveTarget4.sol";
+import { IERC4626 } from "../../interfaces/IERC4626.sol";
+import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
+import { ERC4626Base } from "./ERC4626Base.sol";
+
+/// @author DELV
+/// @title ERC4626Target4
+/// @notice ERC4626Hyperdrive's target4 logic contract. This contract contains
+///         several stateful functions that couldn't fit into the Hyperdrive
+///         contract.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+contract ERC4626Target4 is HyperdriveTarget4, ERC4626Base {
+    /// @notice Initializes the target4 contract.
+    /// @param _config The configuration of the Hyperdrive pool.
+    /// @param __vault The ERC4626 compatible vault.
+    constructor(
+        IHyperdrive.PoolConfig memory _config,
+        IERC4626 __vault
+    ) HyperdriveTarget4(_config) ERC4626Base(__vault) {}
+}
diff --git a/contracts/src/instances/steth/StETHBase.sol b/contracts/src/instances/steth/StETHBase.sol
index fc53d2c58..98c2d1708 100644
--- a/contracts/src/instances/steth/StETHBase.sol
+++ b/contracts/src/instances/steth/StETHBase.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
 import { ILido } from "../../interfaces/ILido.sol";
@@ -26,20 +26,6 @@ abstract contract StETHBase is HyperdriveBase {
     /// @param __lido The Lido contract.
     constructor(ILido __lido) {
         _lido = __lido;
-
-        // Ensure that the minimum share reserves are equal to 1e15. This value
-        // has been tested to prevent arithmetic overflows in the
-        // `_updateLiquidity` function when the share reserves are as high as
-        // 200 million.
-        if (_minimumShareReserves != 1e15) {
-            revert IHyperdrive.InvalidMinimumShareReserves();
-        }
-
-        // Ensure that the minimum transaction amount are equal to 1e15. This
-        // value has been tested to prevent precision issues.
-        if (_minimumTransactionAmount != 1e15) {
-            revert IHyperdrive.InvalidMinimumTransactionAmount();
-        }
     }
 
     /// Yield Source ///
diff --git a/contracts/src/instances/steth/StETHHyperdrive.sol b/contracts/src/instances/steth/StETHHyperdrive.sol
index 4b2753a06..b7d54b5ec 100644
--- a/contracts/src/instances/steth/StETHHyperdrive.sol
+++ b/contracts/src/instances/steth/StETHHyperdrive.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { Hyperdrive } from "../../external/Hyperdrive.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
@@ -22,6 +22,7 @@ contract StETHHyperdrive is Hyperdrive, StETHBase {
     /// @param _target1 The target1 address.
     /// @param _target2 The target2 address.
     /// @param _target3 The target3 address.
+    /// @param _target4 The target4 address.
     /// @param _lido The Lido contract.
     constructor(
         IHyperdrive.PoolConfig memory _config,
@@ -29,20 +30,16 @@ contract StETHHyperdrive is Hyperdrive, StETHBase {
         address _target1,
         address _target2,
         address _target3,
+        address _target4,
         ILido _lido
     )
-        Hyperdrive(_config, _target0, _target1, _target2, _target3)
+        Hyperdrive(_config, _target0, _target1, _target2, _target3, _target4)
         StETHBase(_lido)
     {
         // Ensure that the base token address is properly configured.
         if (address(_config.baseToken) != ETH) {
             revert IHyperdrive.InvalidBaseToken();
         }
-
-        // Ensure that the initial vault share price is properly configured.
-        if (_config.initialVaultSharePrice != _pricePerVaultShare()) {
-            revert IHyperdrive.InvalidInitialVaultSharePrice();
-        }
     }
 
     /// @notice Some yield sources [eg Morpho] pay rewards directly to this
diff --git a/contracts/src/instances/steth/StETHTarget0.sol b/contracts/src/instances/steth/StETHTarget0.sol
index 2cc339362..7ce908c30 100644
--- a/contracts/src/instances/steth/StETHTarget0.sol
+++ b/contracts/src/instances/steth/StETHTarget0.sol
@@ -1,8 +1,8 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
-import { ERC20 } from "solmate/tokens/ERC20.sol";
-import { SafeTransferLib } from "solmate/utils/SafeTransferLib.sol";
+import { ERC20 } from "openzeppelin/token/ERC20/ERC20.sol";
+import { SafeERC20 } from "openzeppelin/token/ERC20/utils/SafeERC20.sol";
 import { HyperdriveTarget0 } from "../../external/HyperdriveTarget0.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
 import { IERC20 } from "../../interfaces/IERC20.sol";
@@ -18,7 +18,7 @@ import { StETHBase } from "./StETHBase.sol";
 ///                    only, and is not intended to, and does not, have any
 ///                    particular legal or regulatory significance.
 contract StETHTarget0 is HyperdriveTarget0, StETHBase {
-    using SafeTransferLib for ERC20;
+    using SafeERC20 for ERC20;
 
     /// @notice Initializes the target0 contract.
     /// @param _config The configuration of the Hyperdrive pool.
diff --git a/contracts/src/instances/steth/StETHTarget1.sol b/contracts/src/instances/steth/StETHTarget1.sol
index 29b17ca03..f1f3ff8c1 100644
--- a/contracts/src/instances/steth/StETHTarget1.sol
+++ b/contracts/src/instances/steth/StETHTarget1.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget1 } from "../../external/HyperdriveTarget1.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
diff --git a/contracts/src/instances/steth/StETHTarget2.sol b/contracts/src/instances/steth/StETHTarget2.sol
index c41c48123..e11a4fb81 100644
--- a/contracts/src/instances/steth/StETHTarget2.sol
+++ b/contracts/src/instances/steth/StETHTarget2.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget2 } from "../../external/HyperdriveTarget2.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
diff --git a/contracts/src/instances/steth/StETHTarget3.sol b/contracts/src/instances/steth/StETHTarget3.sol
index 5c37b5427..6abf7c590 100644
--- a/contracts/src/instances/steth/StETHTarget3.sol
+++ b/contracts/src/instances/steth/StETHTarget3.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget3 } from "../../external/HyperdriveTarget3.sol";
 import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
diff --git a/contracts/src/instances/steth/StETHTarget4.sol b/contracts/src/instances/steth/StETHTarget4.sol
new file mode 100644
index 000000000..63f605aa2
--- /dev/null
+++ b/contracts/src/instances/steth/StETHTarget4.sol
@@ -0,0 +1,23 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.20;
+
+import { HyperdriveTarget4 } from "../../external/HyperdriveTarget4.sol";
+import { IHyperdrive } from "../../interfaces/IHyperdrive.sol";
+import { ILido } from "../../interfaces/ILido.sol";
+import { StETHBase } from "./StETHBase.sol";
+
+/// @author DELV
+/// @title StETHTarget4
+/// @notice StETHHyperdrive's target4 logic contract.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+contract StETHTarget4 is HyperdriveTarget4, StETHBase {
+    /// @notice Initializes the target4 contract.
+    /// @param _config The configuration of the Hyperdrive pool.
+    /// @param _lido The Lido contract.
+    constructor(
+        IHyperdrive.PoolConfig memory _config,
+        ILido _lido
+    ) HyperdriveTarget4(_config) StETHBase(_lido) {}
+}
diff --git a/contracts/src/interfaces/IDeployerCoordinator.sol b/contracts/src/interfaces/IDeployerCoordinator.sol
deleted file mode 100644
index 636432234..000000000
--- a/contracts/src/interfaces/IDeployerCoordinator.sol
+++ /dev/null
@@ -1,11 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import { IHyperdrive } from "./IHyperdrive.sol";
-
-interface IDeployerCoordinator {
-    function deploy(
-        IHyperdrive.PoolDeployConfig memory _config,
-        bytes memory _extraData
-    ) external returns (address);
-}
diff --git a/contracts/src/interfaces/IERC20.sol b/contracts/src/interfaces/IERC20.sol
index 2cd5cf777..11f622639 100644
--- a/contracts/src/interfaces/IERC20.sol
+++ b/contracts/src/interfaces/IERC20.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 interface IERC20 {
     event Transfer(address indexed from, address indexed to, uint256 value);
diff --git a/contracts/src/interfaces/IERC20Forwarder.sol b/contracts/src/interfaces/IERC20Forwarder.sol
index c16d4c390..f52c338c2 100644
--- a/contracts/src/interfaces/IERC20Forwarder.sol
+++ b/contracts/src/interfaces/IERC20Forwarder.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "./IERC20.sol";
 import { IMultiToken } from "./IMultiToken.sol";
@@ -31,7 +31,9 @@ interface IERC20Forwarder is IERC20 {
 
     function tokenId() external view returns (uint256);
 
+    // solhint-disable-next-line func-name-mixedcase
     function DOMAIN_SEPARATOR() external view returns (bytes32);
 
+    // solhint-disable-next-line func-name-mixedcase
     function PERMIT_TYPEHASH() external view returns (bytes32);
 }
diff --git a/contracts/src/interfaces/IERC4626.sol b/contracts/src/interfaces/IERC4626.sol
index 15e3d0c62..fd5cede7a 100644
--- a/contracts/src/interfaces/IERC4626.sol
+++ b/contracts/src/interfaces/IERC4626.sol
@@ -1,6 +1,6 @@
 // SPDX-License-Identifier: GPL-2.0-or-later
 // @author is Fei Protocol - https://github.com/fei-protocol/ERC4626/blob/main/src/interfaces/IERC4626.sol
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "./IERC20.sol";
 
diff --git a/contracts/src/interfaces/IERC4626Hyperdrive.sol b/contracts/src/interfaces/IERC4626Hyperdrive.sol
index 7dbc296fa..f8e1a2c88 100644
--- a/contracts/src/interfaces/IERC4626Hyperdrive.sol
+++ b/contracts/src/interfaces/IERC4626Hyperdrive.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC4626HyperdriveCore } from "./IERC4626HyperdriveCore.sol";
 import { IERC4626HyperdriveRead } from "./IERC4626HyperdriveRead.sol";
diff --git a/contracts/src/interfaces/IERC4626HyperdriveCore.sol b/contracts/src/interfaces/IERC4626HyperdriveCore.sol
index a1bf895b5..2adf0ee8c 100644
--- a/contracts/src/interfaces/IERC4626HyperdriveCore.sol
+++ b/contracts/src/interfaces/IERC4626HyperdriveCore.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "./IERC20.sol";
 import { IHyperdriveCore } from "./IHyperdriveCore.sol";
diff --git a/contracts/src/interfaces/IERC4626HyperdriveRead.sol b/contracts/src/interfaces/IERC4626HyperdriveRead.sol
index d9f3781e3..db8d98784 100644
--- a/contracts/src/interfaces/IERC4626HyperdriveRead.sol
+++ b/contracts/src/interfaces/IERC4626HyperdriveRead.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC4626 } from "./IERC4626.sol";
 import { IHyperdriveRead } from "./IHyperdriveRead.sol";
diff --git a/contracts/src/interfaces/IForwarderFactory.sol b/contracts/src/interfaces/IForwarderFactory.sol
index 6c5194204..f48d7416a 100644
--- a/contracts/src/interfaces/IForwarderFactory.sol
+++ b/contracts/src/interfaces/IForwarderFactory.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20Forwarder } from "./IERC20Forwarder.sol";
 import { IMultiToken } from "./IMultiToken.sol";
@@ -23,5 +23,6 @@ interface IForwarderFactory {
         uint256 _tokenId
     ) external view returns (address);
 
+    // solhint-disable-next-line func-name-mixedcase
     function ERC20LINK_HASH() external pure returns (bytes32);
 }
diff --git a/contracts/src/interfaces/IHyperdrive.sol b/contracts/src/interfaces/IHyperdrive.sol
index 59adeac56..7f36d8906 100644
--- a/contracts/src/interfaces/IHyperdrive.sol
+++ b/contracts/src/interfaces/IHyperdrive.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "./IERC20.sol";
 import { IHyperdriveCore } from "./IHyperdriveCore.sol";
@@ -218,9 +218,6 @@ interface IHyperdrive is
     ///         different criteria for what constitutes a valid base token.
     error InvalidBaseToken();
 
-    /// @notice Thrown when the checkpoint duration specified is zero.
-    error InvalidCheckpointDuration();
-
     /// @notice Thrown when the checkpoint time provided to `checkpoint` is
     ///         larger than the current checkpoint or isn't divisible by the
     ///         checkpoint duration.
@@ -230,10 +227,6 @@ interface IHyperdrive is
     ///         functions is not the corresponding bridge.
     error InvalidERC20Bridge();
 
-    /// @notice Thrown when the curve fee, flat fee, governance LP fee, or
-    ///         governance zombie fee is greater than 100%.
-    error InvalidFeeAmounts();
-
     /// @notice Thrown when a destination other than the fee collector is
     ///         specified in `collectGovernanceFee`.
     error InvalidFeeDestination();
@@ -242,19 +235,6 @@ interface IHyperdrive is
     ///         price of the underlying yield source on deployment.
     error InvalidInitialVaultSharePrice();
 
-    /// @notice Thrown when the minimum share reserves is too small. The
-    ///         absolute smallest allowable minimum share reserves is 1e3;
-    ///         however, yield sources may require a larger minimum share
-    ///         reserves.
-    error InvalidMinimumShareReserves();
-
-    /// @notice Thrown when the minimum transaction amount is too small.
-    error InvalidMinimumTransactionAmount();
-
-    /// @notice Thrown when the position duration is smaller than the checkpoint
-    ///         duration or is not a multiple of the checkpoint duration.
-    error InvalidPositionDuration();
-
     /// @notice Thrown when update liquidity brings the share reserves below
     ///         the minimum share reserves.
     error InvalidShareReserves();
@@ -362,4 +342,6 @@ interface IHyperdrive is
     function target2() external view returns (address);
 
     function target3() external view returns (address);
+
+    function target4() external view returns (address);
 }
diff --git a/contracts/src/interfaces/IHyperdriveCore.sol b/contracts/src/interfaces/IHyperdriveCore.sol
index 92bb0444e..ad30ca5fc 100644
--- a/contracts/src/interfaces/IHyperdriveCore.sol
+++ b/contracts/src/interfaces/IHyperdriveCore.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "./IHyperdrive.sol";
 import { IMultiTokenCore } from "./IMultiTokenCore.sol";
diff --git a/contracts/src/interfaces/IHyperdriveCoreDeployer.sol b/contracts/src/interfaces/IHyperdriveCoreDeployer.sol
index 65b730d14..f0b8c62b2 100644
--- a/contracts/src/interfaces/IHyperdriveCoreDeployer.sol
+++ b/contracts/src/interfaces/IHyperdriveCoreDeployer.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "./IHyperdrive.sol";
 
@@ -7,9 +7,11 @@ interface IHyperdriveCoreDeployer {
     function deploy(
         IHyperdrive.PoolConfig memory _config,
         bytes memory _extraData,
-        address target0,
-        address target1,
-        address target2,
-        address target3
+        address _target0,
+        address _target1,
+        address _target2,
+        address _target3,
+        address _target4,
+        bytes32 _salt
     ) external returns (address);
 }
diff --git a/contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol b/contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol
new file mode 100644
index 000000000..caa9e3db1
--- /dev/null
+++ b/contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol
@@ -0,0 +1,79 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.20;
+
+import { IHyperdrive } from "./IHyperdrive.sol";
+
+interface IHyperdriveDeployerCoordinator {
+    /// Errors ///
+
+    /// @notice Thrown when a user attempts to deploy target0 the deployment has
+    ///         already been created.
+    error DeploymentAlreadyExists();
+
+    /// @notice Thrown when a user attempts to deploy a contract that requires
+    ///         the deployment to be created and the deployment doesn't exist.
+    error DeploymentDoesNotExist();
+
+    /// @notice Thrown when a user attempts to deploy a Hyperdrive entrypoint
+    ///         without first deploying the required targets.
+    error IncompleteDeployment();
+
+    /// @notice Thrown when a user attempts to deploy a hyperdrive contract
+    ///         after it has already been deployed.
+    error HyperdriveAlreadyDeployed();
+
+    /// @notice Thrown when the checkpoint duration specified is zero.
+    error InvalidCheckpointDuration();
+
+    /// @notice Thrown when the curve fee, flat fee, governance LP fee, or
+    ///         governance zombie fee is greater than 100%.
+    error InvalidFeeAmounts();
+
+    /// @notice Thrown when the minimum share reserves is too small. The
+    ///         absolute smallest allowable minimum share reserves is 1e3;
+    ///         however, yield sources may require a larger minimum share
+    ///         reserves.
+    error InvalidMinimumShareReserves();
+
+    /// @notice Thrown when the minimum transaction amount is too small.
+    error InvalidMinimumTransactionAmount();
+
+    /// @notice Thrown when the position duration is smaller than the checkpoint
+    ///         duration or is not a multiple of the checkpoint duration.
+    error InvalidPositionDuration();
+
+    /// @notice Thrown when a user attempts to deploy a target using a target
+    ///         index that is outside of the accepted range.
+    error InvalidTargetIndex();
+
+    /// @notice Thrown when a user attempts to deploy a contract in an existing
+    ///         deployment with a config that doesn't match the deployment's
+    ///         config hash.
+    error MismatchedConfig();
+
+    /// @notice Thrown when a user attempts to deploy a contract in an existing
+    ///         deployment with extra data that doesn't match the deployment's
+    ///         extra data hash.
+    error MismatchedExtraData();
+
+    /// @notice Thrown when a user attempts to deploy a target contract after
+    ///         it has already been deployed.
+    error TargetAlreadyDeployed();
+
+    /// Functions ///
+
+    function deploy(
+        bytes32 _deploymentId,
+        IHyperdrive.PoolDeployConfig memory _config,
+        bytes memory _extraData,
+        bytes32 _salt
+    ) external returns (address);
+
+    function deployTarget(
+        bytes32 _deploymentId,
+        IHyperdrive.PoolDeployConfig memory _config,
+        bytes memory _extraData,
+        uint256 _targetIndex,
+        bytes32 _salt
+    ) external returns (address);
+}
diff --git a/contracts/src/interfaces/IHyperdriveEvents.sol b/contracts/src/interfaces/IHyperdriveEvents.sol
index 5ed219cfb..adeeed29e 100644
--- a/contracts/src/interfaces/IHyperdriveEvents.sol
+++ b/contracts/src/interfaces/IHyperdriveEvents.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IMultiTokenEvents } from "./IMultiTokenEvents.sol";
 
diff --git a/contracts/src/interfaces/IHyperdriveFactory.sol b/contracts/src/interfaces/IHyperdriveFactory.sol
index bbe426639..ed5f2636f 100644
--- a/contracts/src/interfaces/IHyperdriveFactory.sol
+++ b/contracts/src/interfaces/IHyperdriveFactory.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "./IHyperdrive.sol";
 
diff --git a/contracts/src/interfaces/IHyperdriveGovernedRegistry.sol b/contracts/src/interfaces/IHyperdriveGovernedRegistry.sol
index d2ce55991..6f9573e55 100644
--- a/contracts/src/interfaces/IHyperdriveGovernedRegistry.sol
+++ b/contracts/src/interfaces/IHyperdriveGovernedRegistry.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 interface IHyperdriveGovernedRegistry {
     /// @notice Emitted when governance is transferred.
diff --git a/contracts/src/interfaces/IHyperdriveRead.sol b/contracts/src/interfaces/IHyperdriveRead.sol
index bec774314..554c5c981 100644
--- a/contracts/src/interfaces/IHyperdriveRead.sol
+++ b/contracts/src/interfaces/IHyperdriveRead.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "./IHyperdrive.sol";
 import { IMultiTokenRead } from "./IMultiTokenRead.sol";
diff --git a/contracts/src/interfaces/IHyperdriveRegistry.sol b/contracts/src/interfaces/IHyperdriveRegistry.sol
index a91c9b285..12f34c19d 100644
--- a/contracts/src/interfaces/IHyperdriveRegistry.sol
+++ b/contracts/src/interfaces/IHyperdriveRegistry.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 interface IHyperdriveRegistry {
     /// @notice Allows anyone to get the info for a hyperdrive instance.
diff --git a/contracts/src/interfaces/IHyperdriveTargetDeployer.sol b/contracts/src/interfaces/IHyperdriveTargetDeployer.sol
index 35de5a811..cc6ad0568 100644
--- a/contracts/src/interfaces/IHyperdriveTargetDeployer.sol
+++ b/contracts/src/interfaces/IHyperdriveTargetDeployer.sol
@@ -1,11 +1,12 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "./IHyperdrive.sol";
 
 interface IHyperdriveTargetDeployer {
     function deploy(
         IHyperdrive.PoolConfig memory _config,
-        bytes memory _extraData
+        bytes memory _extraData,
+        bytes32 _salt
     ) external returns (address);
 }
diff --git a/contracts/src/interfaces/ILido.sol b/contracts/src/interfaces/ILido.sol
index b5354a72b..8b0af3848 100644
--- a/contracts/src/interfaces/ILido.sol
+++ b/contracts/src/interfaces/ILido.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "./IERC20.sol";
 
diff --git a/contracts/src/interfaces/IMultiToken.sol b/contracts/src/interfaces/IMultiToken.sol
index 9a9a93440..285378c71 100644
--- a/contracts/src/interfaces/IMultiToken.sol
+++ b/contracts/src/interfaces/IMultiToken.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IMultiTokenCore } from "./IMultiTokenCore.sol";
 import { IMultiTokenEvents } from "./IMultiTokenEvents.sol";
diff --git a/contracts/src/interfaces/IMultiTokenCore.sol b/contracts/src/interfaces/IMultiTokenCore.sol
index 4e8ebc409..2a2289d3c 100644
--- a/contracts/src/interfaces/IMultiTokenCore.sol
+++ b/contracts/src/interfaces/IMultiTokenCore.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 interface IMultiTokenCore {
     /// Functions ///
diff --git a/contracts/src/interfaces/IMultiTokenEvents.sol b/contracts/src/interfaces/IMultiTokenEvents.sol
index 0304339c2..a9343219e 100644
--- a/contracts/src/interfaces/IMultiTokenEvents.sol
+++ b/contracts/src/interfaces/IMultiTokenEvents.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 interface IMultiTokenEvents {
     event TransferSingle(
diff --git a/contracts/src/interfaces/IMultiTokenMetadata.sol b/contracts/src/interfaces/IMultiTokenMetadata.sol
index f7c91a774..72f1040ea 100644
--- a/contracts/src/interfaces/IMultiTokenMetadata.sol
+++ b/contracts/src/interfaces/IMultiTokenMetadata.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 interface IMultiTokenMetadata {
     // solhint-disable func-name-mixedcase
diff --git a/contracts/src/interfaces/IMultiTokenRead.sol b/contracts/src/interfaces/IMultiTokenRead.sol
index cdea14ff6..199053d3c 100644
--- a/contracts/src/interfaces/IMultiTokenRead.sol
+++ b/contracts/src/interfaces/IMultiTokenRead.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 interface IMultiTokenRead {
     function name(uint256 id) external view returns (string memory);
diff --git a/contracts/src/interfaces/IStETHHyperdrive.sol b/contracts/src/interfaces/IStETHHyperdrive.sol
index ced14f345..f05478f23 100644
--- a/contracts/src/interfaces/IStETHHyperdrive.sol
+++ b/contracts/src/interfaces/IStETHHyperdrive.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "./IHyperdrive.sol";
 import { IStETHHyperdriveCore } from "./IStETHHyperdriveCore.sol";
diff --git a/contracts/src/interfaces/IStETHHyperdriveCore.sol b/contracts/src/interfaces/IStETHHyperdriveCore.sol
index 5116c83e8..e4ecf9f2c 100644
--- a/contracts/src/interfaces/IStETHHyperdriveCore.sol
+++ b/contracts/src/interfaces/IStETHHyperdriveCore.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "./IERC20.sol";
 import { IHyperdriveCore } from "./IHyperdriveCore.sol";
diff --git a/contracts/src/interfaces/IStETHHyperdriveRead.sol b/contracts/src/interfaces/IStETHHyperdriveRead.sol
index 453c10eb9..b6fd6efc8 100644
--- a/contracts/src/interfaces/IStETHHyperdriveRead.sol
+++ b/contracts/src/interfaces/IStETHHyperdriveRead.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdriveRead } from "./IHyperdriveRead.sol";
 import { ILido } from "./ILido.sol";
diff --git a/contracts/src/internal/HyperdriveAdmin.sol b/contracts/src/internal/HyperdriveAdmin.sol
index 9786da716..1c42a41ab 100644
--- a/contracts/src/internal/HyperdriveAdmin.sol
+++ b/contracts/src/internal/HyperdriveAdmin.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveEvents } from "../interfaces/IHyperdriveEvents.sol";
diff --git a/contracts/src/internal/HyperdriveBase.sol b/contracts/src/internal/HyperdriveBase.sol
index 4867908b3..c5d6d78ca 100644
--- a/contracts/src/internal/HyperdriveBase.sol
+++ b/contracts/src/internal/HyperdriveBase.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "../interfaces/IERC20.sol";
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
diff --git a/contracts/src/internal/HyperdriveCheckpoint.sol b/contracts/src/internal/HyperdriveCheckpoint.sol
index 752ce46d2..ebeda8af5 100644
--- a/contracts/src/internal/HyperdriveCheckpoint.sol
+++ b/contracts/src/internal/HyperdriveCheckpoint.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveEvents } from "../interfaces/IHyperdriveEvents.sol";
diff --git a/contracts/src/internal/HyperdriveLP.sol b/contracts/src/internal/HyperdriveLP.sol
index e61eceb9b..aa8b19989 100644
--- a/contracts/src/internal/HyperdriveLP.sol
+++ b/contracts/src/internal/HyperdriveLP.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveEvents } from "../interfaces/IHyperdriveEvents.sol";
diff --git a/contracts/src/internal/HyperdriveLong.sol b/contracts/src/internal/HyperdriveLong.sol
index 141e40c0c..2f1bed23b 100644
--- a/contracts/src/internal/HyperdriveLong.sol
+++ b/contracts/src/internal/HyperdriveLong.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveEvents } from "../interfaces/IHyperdriveEvents.sol";
diff --git a/contracts/src/internal/HyperdriveMultiToken.sol b/contracts/src/internal/HyperdriveMultiToken.sol
index 878df1918..308a60a5a 100644
--- a/contracts/src/internal/HyperdriveMultiToken.sol
+++ b/contracts/src/internal/HyperdriveMultiToken.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveEvents } from "../interfaces/IHyperdriveEvents.sol";
diff --git a/contracts/src/internal/HyperdriveShort.sol b/contracts/src/internal/HyperdriveShort.sol
index 58c17138d..4459ba785 100644
--- a/contracts/src/internal/HyperdriveShort.sol
+++ b/contracts/src/internal/HyperdriveShort.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { IHyperdriveEvents } from "../interfaces/IHyperdriveEvents.sol";
diff --git a/contracts/src/internal/HyperdriveStorage.sol b/contracts/src/internal/HyperdriveStorage.sol
index ffbfb5714..da8ff7ceb 100644
--- a/contracts/src/internal/HyperdriveStorage.sol
+++ b/contracts/src/internal/HyperdriveStorage.sol
@@ -1,7 +1,7 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
-import { ReentrancyGuard } from "solmate/utils/ReentrancyGuard.sol";
+import { ReentrancyGuard } from "openzeppelin/utils/ReentrancyGuard.sol";
 import { IERC20 } from "../interfaces/IERC20.sol";
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { FixedPointMath, ONE } from "../libraries/FixedPointMath.sol";
@@ -127,16 +127,14 @@ abstract contract HyperdriveStorage is ReentrancyGuard {
         // Initialize the base token address.
         _baseToken = _config.baseToken;
 
+        // Initialize the initial vault share price.
+        _initialVaultSharePrice = _config.initialVaultSharePrice;
+
         // Initialize the minimum share reserves. The minimum share reserves
         // defines the amount of shares that will be reserved to ensure that
         // the share reserves are never empty. We will also burn LP shares equal
         // to the minimum share reserves upon initialization to ensure that the
-        // total supply of active LP tokens is always greater than zero. We
-        // don't allow a value less than 1e3 to avoid numerical issues that
-        // occur with small amounts of shares.
-        if (_config.minimumShareReserves < 1e3) {
-            revert IHyperdrive.InvalidMinimumShareReserves();
-        }
+        // total supply of active LP tokens is always greater than zero.
         _minimumShareReserves = _config.minimumShareReserves;
 
         // Initialize the minimum transaction amount. The minimum transaction
@@ -147,31 +145,11 @@ abstract contract HyperdriveStorage is ReentrancyGuard {
 
         // Initialize the time configurations. There must be at least one
         // checkpoint per term to avoid having a position duration of zero.
-        if (_config.checkpointDuration == 0) {
-            revert IHyperdrive.InvalidCheckpointDuration();
-        }
         _checkpointDuration = _config.checkpointDuration;
-        if (
-            _config.positionDuration < _config.checkpointDuration ||
-            _config.positionDuration % _config.checkpointDuration != 0
-        ) {
-            revert IHyperdrive.InvalidPositionDuration();
-        }
         _positionDuration = _config.positionDuration;
         _timeStretch = _config.timeStretch;
-        _initialVaultSharePrice = _config.initialVaultSharePrice;
-        _governance = _config.governance;
-        _feeCollector = _config.feeCollector;
 
         // Initialize the fee parameters.
-        if (
-            _config.fees.curve > 1e18 ||
-            _config.fees.flat > 1e18 ||
-            _config.fees.governanceLP > 1e18 ||
-            _config.fees.governanceZombie > 1e18
-        ) {
-            revert IHyperdrive.InvalidFeeAmounts();
-        }
         _curveFee = _config.fees.curve;
         _flatFee = _config.fees.flat;
         _governanceLPFee = _config.fees.governanceLP;
@@ -180,5 +158,9 @@ abstract contract HyperdriveStorage is ReentrancyGuard {
         // Initialize the MultiToken immutables.
         _linkerFactory = _config.linkerFactory;
         _linkerCodeHash = _config.linkerCodeHash;
+
+        // Initialize the governance and fee collector.
+        _governance = _config.governance;
+        _feeCollector = _config.feeCollector;
     }
 }
diff --git a/contracts/src/libraries/AssetId.sol b/contracts/src/libraries/AssetId.sol
index 6e2c52e9a..c8bf3d980 100644
--- a/contracts/src/libraries/AssetId.sol
+++ b/contracts/src/libraries/AssetId.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 
diff --git a/contracts/src/libraries/Errors.sol b/contracts/src/libraries/Errors.sol
index 91e22149c..95abb3403 100644
--- a/contracts/src/libraries/Errors.sol
+++ b/contracts/src/libraries/Errors.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 
diff --git a/contracts/src/libraries/FixedPointMath.sol b/contracts/src/libraries/FixedPointMath.sol
index d4ede9a99..7ccb85914 100644
--- a/contracts/src/libraries/FixedPointMath.sol
+++ b/contracts/src/libraries/FixedPointMath.sol
@@ -1,5 +1,5 @@
 /// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 
@@ -16,7 +16,6 @@ library FixedPointMath {
 
     uint256 internal constant MAX_UINT256 = 2 ** 256 - 1;
 
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/FixedPointMathLib.sol)
     /// @param x Fixed point number in 1e18 format.
     /// @param y Fixed point number in 1e18 format.
     /// @param denominator Fixed point number in 1e18 format.
@@ -40,7 +39,6 @@ library FixedPointMath {
         }
     }
 
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/FixedPointMathLib.sol)
     /// @param a Fixed point number in 1e18 format.
     /// @param b Fixed point number in 1e18 format.
     /// @return Result of a * b rounded down.
@@ -48,7 +46,6 @@ library FixedPointMath {
         return (mulDivDown(a, b, 1e18));
     }
 
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/FixedPointMathLib.sol)
     /// @param a Fixed point number in 1e18 format.
     /// @param b Fixed point number in 1e18 format.
     /// @return Result of a / b rounded down.
@@ -56,7 +53,6 @@ library FixedPointMath {
         return (mulDivDown(a, 1e18, b)); // Equivalent to (a * 1e18) / b rounded down.
     }
 
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/FixedPointMathLib.sol)
     /// @param x Fixed point number in 1e18 format.
     /// @param y Fixed point number in 1e18 format.
     /// @param denominator Fixed point number in 1e18 format.
@@ -84,7 +80,6 @@ library FixedPointMath {
         }
     }
 
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/FixedPointMathLib.sol)
     /// @param a Fixed point number in 1e18 format.
     /// @param b Fixed point number in 1e18 format.
     /// @return The result of a * b rounded up.
@@ -92,7 +87,6 @@ library FixedPointMath {
         return (mulDivUp(a, b, 1e18));
     }
 
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/FixedPointMathLib.sol)
     /// @param a Fixed point number in 1e18 format.
     /// @param b Fixed point number in 1e18 format.
     /// @return The result of a / b rounded up.
@@ -101,7 +95,6 @@ library FixedPointMath {
     }
 
     /// @dev Exponentiation (x^y) with unsigned 18 decimal fixed point base and exponent.
-    /// @dev Partially inspired by Balancer LogExpMath library (https://github.com/balancer-labs/balancer-v2-monorepo/blob/master/pkg/solidity-utils/contracts/math/LogExpMath.sol)
     /// @param x Fixed point number in 1e18 format.
     /// @param y Fixed point number in 1e18 format.
     /// @return The result of x^y.
@@ -135,7 +128,7 @@ library FixedPointMath {
     }
 
     /// @dev Computes e^x in 1e18 fixed point.
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/SignedWadMath.sol)
+    /// @dev Credit to Remco (https://github.com/recmo/experiment-solexp/blob/main/src/FixedPointMathLib.sol)
     /// @param x Fixed point number in 1e18 format.
     /// @return r The result of e^x.
     function exp(int256 x) internal pure returns (int256 r) {
@@ -206,7 +199,6 @@ library FixedPointMath {
 
     /// @dev Computes ln(x) in 1e18 fixed point.
     /// @dev Reverts if x is negative
-    /// @dev Credit to Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/SignedWadMath.sol)
     /// @param x Fixed point number in 1e18 format.
     /// @return r Result of ln(x).
     function ln(int256 x) internal pure returns (int256 r) {
@@ -299,6 +291,11 @@ library FixedPointMath {
         uint256 _deltaWeight,
         bool _isAdding
     ) internal pure returns (uint256 average) {
+        // If the delta weight is zero, the average does not change.
+        if (_deltaWeight == 0) {
+            return _average;
+        }
+
         // If the delta weight should be added to the total weight, we compute
         // the weighted average as:
         //
diff --git a/contracts/src/libraries/HyperdriveMath.sol b/contracts/src/libraries/HyperdriveMath.sol
index 1e7432dae..1db964f6d 100644
--- a/contracts/src/libraries/HyperdriveMath.sol
+++ b/contracts/src/libraries/HyperdriveMath.sol
@@ -1,5 +1,5 @@
 /// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { FixedPointMath, ONE } from "./FixedPointMath.sol";
diff --git a/contracts/src/libraries/LPMath.sol b/contracts/src/libraries/LPMath.sol
index 33bb72add..db2624aad 100644
--- a/contracts/src/libraries/LPMath.sol
+++ b/contracts/src/libraries/LPMath.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { FixedPointMath, ONE } from "./FixedPointMath.sol";
diff --git a/contracts/src/libraries/SafeCast.sol b/contracts/src/libraries/SafeCast.sol
index e95717c01..e70737ddf 100644
--- a/contracts/src/libraries/SafeCast.sol
+++ b/contracts/src/libraries/SafeCast.sol
@@ -1,10 +1,9 @@
 /// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 
 /// @notice Safe unsigned integer casting library that reverts on overflow.
-/// @author Inspired by Solmate (https://github.com/transmissions11/solmate/blob/main/src/utils/SafeCastLib.sol)
 /// @author Inspired by OpenZeppelin (https://github.com/OpenZeppelin/openzeppelin-contracts/blob/master/contracts/utils/math/SafeCast.sol)
 library SafeCast {
     /// @notice This function safely casts a uint256 to a uint112.
diff --git a/contracts/src/libraries/YieldSpaceMath.sol b/contracts/src/libraries/YieldSpaceMath.sol
index c3f2cf223..5f2bf5a41 100644
--- a/contracts/src/libraries/YieldSpaceMath.sol
+++ b/contracts/src/libraries/YieldSpaceMath.sol
@@ -1,5 +1,5 @@
 /// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "../interfaces/IHyperdrive.sol";
 import { Errors } from "./Errors.sol";
diff --git a/contracts/src/token/ERC20Forwarder.sol b/contracts/src/token/ERC20Forwarder.sol
index c4787f945..c3438b0ba 100644
--- a/contracts/src/token/ERC20Forwarder.sol
+++ b/contracts/src/token/ERC20Forwarder.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20Forwarder } from "../interfaces/IERC20Forwarder.sol";
 import { IForwarderFactory } from "../interfaces/IForwarderFactory.sol";
diff --git a/contracts/src/token/ForwarderFactory.sol b/contracts/src/token/ForwarderFactory.sol
index daf4bc44f..87ebb48df 100644
--- a/contracts/src/token/ForwarderFactory.sol
+++ b/contracts/src/token/ForwarderFactory.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20Forwarder } from "../interfaces/IERC20Forwarder.sol";
 import { IForwarderFactory } from "../interfaces/IForwarderFactory.sol";
diff --git a/contracts/test/ERC20Mintable.sol b/contracts/test/ERC20Mintable.sol
index 08c3302ef..a71c76f32 100644
--- a/contracts/test/ERC20Mintable.sol
+++ b/contracts/test/ERC20Mintable.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { Authority } from "solmate/auth/Auth.sol";
 import { MultiRolesAuthority } from "solmate/auth/authorities/MultiRolesAuthority.sol";
diff --git a/contracts/test/EtchingVault.sol b/contracts/test/EtchingVault.sol
index d5cd2c692..6f8314709 100644
--- a/contracts/test/EtchingVault.sol
+++ b/contracts/test/EtchingVault.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 /// @author DELV
 /// @title EtchingVault
diff --git a/contracts/test/MockAssetId.sol b/contracts/test/MockAssetId.sol
index 768a0c1f0..94d128f33 100644
--- a/contracts/test/MockAssetId.sol
+++ b/contracts/test/MockAssetId.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 
diff --git a/contracts/test/MockERC4626.sol b/contracts/test/MockERC4626.sol
index 0048bbe65..50646a111 100644
--- a/contracts/test/MockERC4626.sol
+++ b/contracts/test/MockERC4626.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { Authority } from "solmate/auth/Auth.sol";
 import { MultiRolesAuthority } from "solmate/auth/authorities/MultiRolesAuthority.sol";
diff --git a/contracts/test/MockERC4626Hyperdrive.sol b/contracts/test/MockERC4626Hyperdrive.sol
index e10beff89..861d8683c 100644
--- a/contracts/test/MockERC4626Hyperdrive.sol
+++ b/contracts/test/MockERC4626Hyperdrive.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626Hyperdrive } from "contracts/src/instances/erc4626/ERC4626Hyperdrive.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
@@ -14,6 +14,7 @@ contract MockERC4626Hyperdrive is ERC4626Hyperdrive {
         address _target1,
         address _target2,
         address _target3,
+        address _target4,
         IERC4626 _pool
     )
         ERC4626Hyperdrive(
@@ -22,6 +23,7 @@ contract MockERC4626Hyperdrive is ERC4626Hyperdrive {
             _target1,
             _target2,
             _target3,
+            _target4,
             _pool
         )
     {}
diff --git a/contracts/test/MockFixedPointMath.sol b/contracts/test/MockFixedPointMath.sol
index 05ea06cbc..4859f4b83 100644
--- a/contracts/test/MockFixedPointMath.sol
+++ b/contracts/test/MockFixedPointMath.sol
@@ -1,5 +1,5 @@
 /// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { FixedPointMath } from "../src/libraries/FixedPointMath.sol";
 
diff --git a/contracts/test/MockHyperdrive.sol b/contracts/test/MockHyperdrive.sol
index ca978d29c..f85236e50 100644
--- a/contracts/test/MockHyperdrive.sol
+++ b/contracts/test/MockHyperdrive.sol
@@ -1,11 +1,12 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { Hyperdrive } from "contracts/src/external/Hyperdrive.sol";
 import { HyperdriveTarget0 } from "contracts/src/external/HyperdriveTarget0.sol";
 import { HyperdriveTarget1 } from "contracts/src/external/HyperdriveTarget1.sol";
 import { HyperdriveTarget2 } from "contracts/src/external/HyperdriveTarget2.sol";
 import { HyperdriveTarget3 } from "contracts/src/external/HyperdriveTarget3.sol";
+import { HyperdriveTarget4 } from "contracts/src/external/HyperdriveTarget4.sol";
 import { HyperdriveBase } from "contracts/src/internal/HyperdriveBase.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
@@ -177,7 +178,8 @@ contract MockHyperdrive is Hyperdrive, MockHyperdriveBase {
             address(new MockHyperdriveTarget0(_config)),
             address(new MockHyperdriveTarget1(_config)),
             address(new MockHyperdriveTarget2(_config)),
-            address(new MockHyperdriveTarget3(_config))
+            address(new MockHyperdriveTarget3(_config)),
+            address(new MockHyperdriveTarget4(_config))
         )
     {}
 
@@ -348,3 +350,9 @@ contract MockHyperdriveTarget3 is HyperdriveTarget3, MockHyperdriveBase {
         IHyperdrive.PoolConfig memory _config
     ) HyperdriveTarget3(_config) {}
 }
+
+contract MockHyperdriveTarget4 is HyperdriveTarget4, MockHyperdriveBase {
+    constructor(
+        IHyperdrive.PoolConfig memory _config
+    ) HyperdriveTarget4(_config) {}
+}
diff --git a/contracts/test/MockHyperdriveDeployer.sol b/contracts/test/MockHyperdriveDeployer.sol
index c4346da1a..075a6bd67 100644
--- a/contracts/test/MockHyperdriveDeployer.sol
+++ b/contracts/test/MockHyperdriveDeployer.sol
@@ -1,16 +1,18 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-import { IDeployerCoordinator } from "contracts/src/interfaces/IDeployerCoordinator.sol";
+import { IHyperdriveDeployerCoordinator } from "contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol";
 import { IHyperdriveTargetDeployer } from "contracts/src/interfaces/IHyperdriveTargetDeployer.sol";
 import { MockHyperdrive } from "./MockHyperdrive.sol";
 
-contract MockHyperdriveDeployer is IDeployerCoordinator {
+contract MockHyperdriveDeployer is IHyperdriveDeployerCoordinator {
     function deploy(
+        bytes32,
         IHyperdrive.PoolDeployConfig memory _deployConfig,
-        bytes memory
-    ) external override returns (address) {
+        bytes memory,
+        bytes32
+    ) external returns (address) {
         IHyperdrive.PoolConfig memory _config;
 
         // Copy struct info to PoolConfig
@@ -26,11 +28,22 @@ contract MockHyperdriveDeployer is IDeployerCoordinator {
         _config.governance = _deployConfig.governance;
         _config.feeCollector = _deployConfig.feeCollector;
         _config.fees = _deployConfig.fees;
-
         _config.initialVaultSharePrice = 1e18; // TODO: Make setter
 
         return (address(new MockHyperdrive(_config)));
     }
+
+    // HACK: This function doesn't return anything because MockHyperdrive
+    // deploys the target contracts in it's constructor.
+    function deployTarget(
+        bytes32,
+        IHyperdrive.PoolDeployConfig memory,
+        bytes memory,
+        uint256,
+        bytes32
+    ) external pure returns (address target) {
+        return address(0);
+    }
 }
 
 // HACK: This contract doesn't return anything because MockHyperdrive deploys
@@ -38,8 +51,9 @@ contract MockHyperdriveDeployer is IDeployerCoordinator {
 contract MockHyperdriveTargetDeployer is IHyperdriveTargetDeployer {
     function deploy(
         IHyperdrive.PoolConfig memory,
-        bytes memory
-    ) external pure override returns (address) {
+        bytes memory,
+        bytes32
+    ) external pure returns (address) {
         return address(0);
     }
 }
diff --git a/contracts/test/MockHyperdriveMath.sol b/contracts/test/MockHyperdriveMath.sol
index ac6344e16..225aae364 100644
--- a/contracts/test/MockHyperdriveMath.sol
+++ b/contracts/test/MockHyperdriveMath.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
 import { HyperdriveUtils } from "test/utils/HyperdriveUtils.sol";
diff --git a/contracts/test/MockLPMath.sol b/contracts/test/MockLPMath.sol
index b20711a48..f5e249e6c 100644
--- a/contracts/test/MockLPMath.sol
+++ b/contracts/test/MockLPMath.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { LPMath } from "contracts/src/libraries/LPMath.sol";
 
diff --git a/contracts/test/MockLido.sol b/contracts/test/MockLido.sol
index 21f46113b..1f09e2b09 100644
--- a/contracts/test/MockLido.sol
+++ b/contracts/test/MockLido.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { Authority } from "solmate/auth/Auth.sol";
 import { MultiRolesAuthority } from "solmate/auth/authorities/MultiRolesAuthority.sol";
diff --git a/contracts/test/MockMultiToken.sol b/contracts/test/MockMultiToken.sol
index 5497e7a16..07252375a 100644
--- a/contracts/test/MockMultiToken.sol
+++ b/contracts/test/MockMultiToken.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTarget0 } from "contracts/src/external/HyperdriveTarget0.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
diff --git a/contracts/test/MockYieldSpaceMath.sol b/contracts/test/MockYieldSpaceMath.sol
index 5d4b5c965..6ee71b8a1 100644
--- a/contracts/test/MockYieldSpaceMath.sol
+++ b/contracts/test/MockYieldSpaceMath.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { YieldSpaceMath } from "../src/libraries/YieldSpaceMath.sol";
 
diff --git a/crates/hyperdrive-wrappers/build.rs b/crates/hyperdrive-wrappers/build.rs
index 4de819f1f..d539ddc10 100644
--- a/crates/hyperdrive-wrappers/build.rs
+++ b/crates/hyperdrive-wrappers/build.rs
@@ -17,6 +17,7 @@ const TARGETS: &[&str] = &[
     "ERC4626Target1",
     "ERC4626Target2",
     "ERC4626Target3",
+    "ERC4626Target4",
     // Test Contracts
     "ERC20Mintable",
     "EtchingVault",
diff --git a/crates/test-utils/src/chain/test_chain.rs b/crates/test-utils/src/chain/test_chain.rs
index 1a39c559f..a813d1203 100644
--- a/crates/test-utils/src/chain/test_chain.rs
+++ b/crates/test-utils/src/chain/test_chain.rs
@@ -20,6 +20,7 @@ use hyperdrive_wrappers::wrappers::{
     erc4626_target1::ERC4626Target1,
     erc4626_target2::ERC4626Target2,
     erc4626_target3::ERC4626Target3,
+    erc4626_target4::ERC4626Target4,
     etching_vault::EtchingVault,
     i_hyperdrive::{Fees, PoolConfig},
     ierc4626_hyperdrive::IERC4626Hyperdrive,
@@ -298,6 +299,10 @@ impl TestChain {
             .gas_price(DEFAULT_GAS_PRICE)
             .send()
             .await?;
+        let target4 = ERC4626Target4::deploy(client.clone(), (config.clone(), vault.address()))?
+            .gas_price(DEFAULT_GAS_PRICE)
+            .send()
+            .await?;
         let erc4626_hyperdrive = ERC4626Hyperdrive::deploy(
             client.clone(),
             (
@@ -306,6 +311,7 @@ impl TestChain {
                 target1.address(),
                 target2.address(),
                 target3.address(),
+                target4.address(),
                 vault.address(),
             ),
         )?
@@ -338,6 +344,7 @@ impl TestChain {
         let target1_address = hyperdrive.target_1().call().await?;
         let target2_address = hyperdrive.target_2().call().await?;
         let target3_address = hyperdrive.target_3().call().await?;
+        let target4_address = hyperdrive.target_4().call().await?;
         let vault_address = hyperdrive.vault().call().await?;
 
         // Deploy templates for each of the contracts that should be etched and
@@ -418,6 +425,14 @@ impl TestChain {
                     .await?;
             pairs.push((target3_address, target3_template.address()));
 
+            // Deploy the target4 template.
+            let target4_template =
+                ERC4626Target4::deploy(client.clone(), (config.clone(), vault_address))?
+                    .gas_price(DEFAULT_GAS_PRICE)
+                    .send()
+                    .await?;
+            pairs.push((target4_address, target4_template.address()));
+
             // Etch the "etching vault" onto the current vault contract. The
             // etching vault implements `convertToAssets` to return the immutable
             // that was passed on deployment. This is necessary because the
@@ -446,6 +461,7 @@ impl TestChain {
                     target1_address,
                     target2_address,
                     target3_address,
+                    target4_address,
                     vault_address,
                     Vec::<Address>::new(),
                 ),
diff --git a/foundry.toml b/foundry.toml
index c6fda25d8..f23a86294 100644
--- a/foundry.toml
+++ b/foundry.toml
@@ -1,5 +1,5 @@
 [profile.default]
-solc_version = '0.8.19'
+solc_version = '0.8.20'
 # The source directory
 src = 'contracts'
 # The artifact directory
@@ -15,6 +15,7 @@ cache_path = 'forge-cache'
 # Enables or disables the optimizer
 remappings = [
   'forge-std=lib/forge-std/src',
+  'openzeppelin=lib/openzeppelin-contracts/contracts',
   'solmate=lib/solmate/src',
 ]
 # gas limit - max u64
diff --git a/lib/openzeppelin-contracts b/lib/openzeppelin-contracts
new file mode 160000
index 000000000..01ef44898
--- /dev/null
+++ b/lib/openzeppelin-contracts
@@ -0,0 +1 @@
+Subproject commit 01ef448981be9d20ca85f2faf6ebdf591ce409f3
diff --git a/script/DevnetMigration.s.sol b/script/DevnetMigration.s.sol
index c28bce40e..20991f190 100644
--- a/script/DevnetMigration.s.sol
+++ b/script/DevnetMigration.s.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { Script } from "forge-std/Script.sol";
 import { stdJson } from "forge-std/StdJson.sol";
@@ -10,12 +10,14 @@ import { ERC4626Target0Deployer } from "contracts/src/deployers/erc4626/ERC4626T
 import { ERC4626Target1Deployer } from "contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol";
 import { ERC4626Target2Deployer } from "contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol";
 import { ERC4626Target3Deployer } from "contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol";
+import { ERC4626Target4Deployer } from "contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol";
 import { StETHHyperdriveCoreDeployer } from "contracts/src/deployers/steth/StETHHyperdriveCoreDeployer.sol";
 import { StETHHyperdriveDeployerCoordinator } from "contracts/src/deployers/steth/StETHHyperdriveDeployerCoordinator.sol";
 import { StETHTarget0Deployer } from "contracts/src/deployers/steth/StETHTarget0Deployer.sol";
 import { StETHTarget1Deployer } from "contracts/src/deployers/steth/StETHTarget1Deployer.sol";
 import { StETHTarget2Deployer } from "contracts/src/deployers/steth/StETHTarget2Deployer.sol";
 import { StETHTarget3Deployer } from "contracts/src/deployers/steth/StETHTarget3Deployer.sol";
+import { StETHTarget4Deployer } from "contracts/src/deployers/steth/StETHTarget4Deployer.sol";
 import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
@@ -383,7 +385,8 @@ contract DevnetMigration is Script {
                 address(new ERC4626Target0Deployer()),
                 address(new ERC4626Target1Deployer()),
                 address(new ERC4626Target2Deployer()),
-                address(new ERC4626Target3Deployer())
+                address(new ERC4626Target3Deployer()),
+                address(new ERC4626Target4Deployer())
             )
         );
         factory.addDeployerCoordinator(erc4626DeployerCoordinator);
@@ -419,14 +422,66 @@ contract DevnetMigration is Script {
                             .erc4626HyperdriveGovernanceZombieFee
                     })
                 });
+            factory.deployTarget(
+                bytes32(uint256(0xdeadbeef)),
+                erc4626DeployerCoordinator,
+                poolConfig,
+                abi.encode(address(pool)),
+                config.erc4626HyperdriveFixedAPR,
+                config.erc4626HyperdriveTimeStretchAPR,
+                0,
+                bytes32(uint256(0xdeadbabe))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xdeadbeef)),
+                erc4626DeployerCoordinator,
+                poolConfig,
+                abi.encode(address(pool)),
+                config.erc4626HyperdriveFixedAPR,
+                config.erc4626HyperdriveTimeStretchAPR,
+                1,
+                bytes32(uint256(0xdeadbabe))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xdeadbeef)),
+                erc4626DeployerCoordinator,
+                poolConfig,
+                abi.encode(address(pool)),
+                config.erc4626HyperdriveFixedAPR,
+                config.erc4626HyperdriveTimeStretchAPR,
+                2,
+                bytes32(uint256(0xdeadbabe))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xdeadbeef)),
+                erc4626DeployerCoordinator,
+                poolConfig,
+                abi.encode(address(pool)),
+                config.erc4626HyperdriveFixedAPR,
+                config.erc4626HyperdriveTimeStretchAPR,
+                3,
+                bytes32(uint256(0xdeadbabe))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xdeadbeef)),
+                erc4626DeployerCoordinator,
+                poolConfig,
+                abi.encode(address(pool)),
+                config.erc4626HyperdriveFixedAPR,
+                config.erc4626HyperdriveTimeStretchAPR,
+                4,
+                bytes32(uint256(0xdeadbabe))
+            );
             erc4626Hyperdrive = factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
                 erc4626DeployerCoordinator,
                 poolConfig,
-                abi.encode(address(pool), new address[](0)),
+                abi.encode(address(pool)),
                 config.erc4626HyperdriveContribution,
                 config.erc4626HyperdriveFixedAPR,
                 config.erc4626HyperdriveTimeStretchAPR,
-                new bytes(0)
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
             );
         }
 
@@ -438,6 +493,7 @@ contract DevnetMigration is Script {
                 address(new StETHTarget1Deployer(ILido(address(lido)))),
                 address(new StETHTarget2Deployer(ILido(address(lido)))),
                 address(new StETHTarget3Deployer(ILido(address(lido)))),
+                address(new StETHTarget4Deployer(ILido(address(lido)))),
                 ILido(address(lido))
             )
         );
@@ -470,16 +526,68 @@ contract DevnetMigration is Script {
                             .stethHyperdriveGovernanceZombieFee
                     })
                 });
+            factory.deployTarget(
+                bytes32(uint256(0xbeefbabe)),
+                stethDeployerCoordinator,
+                poolConfig,
+                new bytes(0),
+                config.stethHyperdriveFixedAPR,
+                config.stethHyperdriveTimeStretchAPR,
+                0,
+                bytes32(uint256(0xdeadfade))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xbeefbabe)),
+                stethDeployerCoordinator,
+                poolConfig,
+                new bytes(0),
+                config.stethHyperdriveFixedAPR,
+                config.stethHyperdriveTimeStretchAPR,
+                1,
+                bytes32(uint256(0xdeadfade))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xbeefbabe)),
+                stethDeployerCoordinator,
+                poolConfig,
+                new bytes(0),
+                config.stethHyperdriveFixedAPR,
+                config.stethHyperdriveTimeStretchAPR,
+                2,
+                bytes32(uint256(0xdeadfade))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xbeefbabe)),
+                stethDeployerCoordinator,
+                poolConfig,
+                new bytes(0),
+                config.stethHyperdriveFixedAPR,
+                config.stethHyperdriveTimeStretchAPR,
+                3,
+                bytes32(uint256(0xdeadfade))
+            );
+            factory.deployTarget(
+                bytes32(uint256(0xbeefbabe)),
+                stethDeployerCoordinator,
+                poolConfig,
+                new bytes(0),
+                config.stethHyperdriveFixedAPR,
+                config.stethHyperdriveTimeStretchAPR,
+                4,
+                bytes32(uint256(0xdeadfade))
+            );
             stethHyperdrive = factory.deployAndInitialize{
                 value: config.stethHyperdriveContribution
             }(
+                bytes32(uint256(0xbeefbabe)),
                 stethDeployerCoordinator,
                 poolConfig,
-                abi.encode(address(pool), new address[](0)),
+                new bytes(0),
                 config.stethHyperdriveContribution,
                 config.stethHyperdriveFixedAPR,
                 config.stethHyperdriveTimeStretchAPR,
-                new bytes(0)
+                new bytes(0),
+                bytes32(uint256(0xdeadfade))
             );
         }
 
@@ -502,7 +610,7 @@ contract DevnetMigration is Script {
             "erc4626Hyperdrive",
             address(erc4626Hyperdrive)
         );
-        vm.serializeAddress(
+        result = vm.serializeAddress(
             result,
             "stethHyperdrive",
             address(stethHyperdrive)
diff --git a/test/3rdPartyLibs/LogExpMath.sol b/test/3rdPartyLibs/LogExpMath.sol
index 7a47a8650..591dbb76d 100644
--- a/test/3rdPartyLibs/LogExpMath.sol
+++ b/test/3rdPartyLibs/LogExpMath.sol
@@ -12,7 +12,7 @@
 // COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR
 // OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
 
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { BalancerErrors, _require } from "test/3rdPartyLibs/BalancerErrors.sol";
 
diff --git a/test/combinatorial/MultiToken._transferFrom.t.sol b/test/combinatorial/MultiToken._transferFrom.t.sol
index 18f0fe61d..8f86d8cc0 100644
--- a/test/combinatorial/MultiToken._transferFrom.t.sol
+++ b/test/combinatorial/MultiToken._transferFrom.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import "forge-std/Test.sol";
 import "forge-std/console2.sol";
diff --git a/test/instances/erc4626/ERC4626Hyperdrive.t.sol b/test/instances/erc4626/ERC4626Hyperdrive.t.sol
index 9a8da9c61..ae1bdd859 100644
--- a/test/instances/erc4626/ERC4626Hyperdrive.t.sol
+++ b/test/instances/erc4626/ERC4626Hyperdrive.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626HyperdriveCoreDeployer } from "contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol";
 import { ERC4626HyperdriveDeployerCoordinator } from "contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol";
@@ -7,16 +7,18 @@ import { ERC4626Target0Deployer } from "contracts/src/deployers/erc4626/ERC4626T
 import { ERC4626Target1Deployer } from "contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol";
 import { ERC4626Target2Deployer } from "contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol";
 import { ERC4626Target3Deployer } from "contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol";
+import { ERC4626Target4Deployer } from "contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol";
 import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
 import { ERC4626Target0 } from "contracts/src/instances/erc4626/ERC4626Target0.sol";
 import { ERC4626Target1 } from "contracts/src/instances/erc4626/ERC4626Target1.sol";
 import { ERC4626Target2 } from "contracts/src/instances/erc4626/ERC4626Target2.sol";
 import { ERC4626Target3 } from "contracts/src/instances/erc4626/ERC4626Target3.sol";
+import { ERC4626Target4 } from "contracts/src/instances/erc4626/ERC4626Target4.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
 import { IERC4626Hyperdrive } from "contracts/src/interfaces/IERC4626Hyperdrive.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-import { IDeployerCoordinator } from "contracts/src/interfaces/IDeployerCoordinator.sol";
+import { IHyperdriveDeployerCoordinator } from "contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol";
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
@@ -38,6 +40,7 @@ contract ERC4626HyperdriveTest is HyperdriveTest {
     address target1Deployer;
     address target2Deployer;
     address target3Deployer;
+    address target4Deployer;
 
     IERC20 dai = IERC20(address(0x6B175474E89094C44Da98b954EedeAC495271d0F));
     IERC4626 pool;
@@ -68,13 +71,15 @@ contract ERC4626HyperdriveTest is HyperdriveTest {
         target1Deployer = address(new ERC4626Target1Deployer());
         target2Deployer = address(new ERC4626Target2Deployer());
         target3Deployer = address(new ERC4626Target3Deployer());
+        target4Deployer = address(new ERC4626Target4Deployer());
         deployerCoordinator = address(
             new ERC4626HyperdriveDeployerCoordinator(
                 coreDeployer,
                 target0Deployer,
                 target1Deployer,
                 target2Deployer,
-                target3Deployer
+                target3Deployer,
+                target4Deployer
             )
         );
         address[] memory defaults = new address[](1);
@@ -135,12 +140,14 @@ contract ERC4626HyperdriveTest is HyperdriveTest {
         address target1 = address(new ERC4626Target1(config, pool));
         address target2 = address(new ERC4626Target2(config, pool));
         address target3 = address(new ERC4626Target3(config, pool));
+        address target4 = address(new ERC4626Target4(config, pool));
         mockHyperdrive = new MockERC4626Hyperdrive(
             config,
             target0,
             target1,
             target2,
             target3,
+            target4,
             pool
         );
 
@@ -290,14 +297,66 @@ contract ERC4626HyperdriveTest is HyperdriveTest {
                 fees: IHyperdrive.Fees(0, 0, 0, 0)
             });
         dai.approve(address(factory), type(uint256).max);
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            0,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            1,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            2,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            3,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            4,
+            bytes32(uint256(0xdeadbabe))
+        );
         hyperdrive = factory.deployAndInitialize(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
-            abi.encode(address(pool), new address[](0)),
+            abi.encode(address(pool)),
             contribution,
             apr,
             apr,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdeadbabe))
         );
 
         // The initial price per share is one so the LP shares will initially
@@ -317,7 +376,7 @@ contract ERC4626HyperdriveTest is HyperdriveTest {
             contribution,
             apr,
             config.minimumShareReserves,
-            abi.encode(address(pool), new address[](0)),
+            abi.encode(address(pool)),
             0
         );
     }
@@ -342,14 +401,66 @@ contract ERC4626HyperdriveTest is HyperdriveTest {
                 fees: IHyperdrive.Fees(0, 0, 0, 0)
             });
         dai.approve(address(factory), type(uint256).max);
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            0,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            1,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            2,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            3,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(pool)),
+            apr,
+            apr,
+            4,
+            bytes32(uint256(0xbabe))
+        );
         hyperdrive = factory.deployAndInitialize(
+            bytes32(uint256(0xdead)),
             deployerCoordinator,
             config,
-            abi.encode(address(pool), new address[](0)),
+            abi.encode(address(pool)),
             contribution,
             apr,
             apr,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xbabe))
         );
 
         // Ensure the share price is 1 after initialization.
diff --git a/test/instances/erc4626/ERC4626Validation.t.sol b/test/instances/erc4626/ERC4626Validation.t.sol
index e4cf1d129..ad6b13810 100644
--- a/test/instances/erc4626/ERC4626Validation.t.sol
+++ b/test/instances/erc4626/ERC4626Validation.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626HyperdriveCoreDeployer } from "contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol";
 import { ERC4626HyperdriveDeployerCoordinator } from "contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol";
@@ -7,11 +7,12 @@ import { ERC4626Target0Deployer } from "contracts/src/deployers/erc4626/ERC4626T
 import { ERC4626Target1Deployer } from "contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol";
 import { ERC4626Target2Deployer } from "contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol";
 import { ERC4626Target3Deployer } from "contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol";
+import { ERC4626Target4Deployer } from "contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol";
 import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-import { IDeployerCoordinator } from "contracts/src/interfaces/IDeployerCoordinator.sol";
+import { IHyperdriveDeployerCoordinator } from "contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol";
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
@@ -31,6 +32,7 @@ abstract contract ERC4626ValidationTest is HyperdriveTest {
     address target1Deployer;
     address target2Deployer;
     address target3Deployer;
+    address target4Deployer;
 
     HyperdriveFactory internal factory;
     IERC20 internal underlyingToken;
@@ -50,6 +52,7 @@ abstract contract ERC4626ValidationTest is HyperdriveTest {
         target1Deployer = address(new ERC4626Target1Deployer());
         target2Deployer = address(new ERC4626Target2Deployer());
         target3Deployer = address(new ERC4626Target3Deployer());
+        target4Deployer = address(new ERC4626Target4Deployer());
 
         deployerCoordinator = address(
             new ERC4626HyperdriveDeployerCoordinator(
@@ -57,7 +60,8 @@ abstract contract ERC4626ValidationTest is HyperdriveTest {
                 target0Deployer,
                 target1Deployer,
                 target2Deployer,
-                target3Deployer
+                target3Deployer,
+                target4Deployer
             )
         );
 
@@ -119,14 +123,66 @@ abstract contract ERC4626ValidationTest is HyperdriveTest {
         underlyingToken.approve(address(factory), type(uint256).max);
 
         // Deploy and set hyperdrive instance
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(token)),
+            FIXED_RATE,
+            FIXED_RATE,
+            0,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(token)),
+            FIXED_RATE,
+            FIXED_RATE,
+            1,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(token)),
+            FIXED_RATE,
+            FIXED_RATE,
+            2,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(token)),
+            FIXED_RATE,
+            FIXED_RATE,
+            3,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            abi.encode(address(token)),
+            FIXED_RATE,
+            FIXED_RATE,
+            4,
+            bytes32(uint256(0xdeadbabe))
+        );
         hyperdrive = factory.deployAndInitialize(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
-            abi.encode(address(token), new address[](0)),
+            abi.encode(address(token)),
             contribution,
             FIXED_RATE,
             FIXED_RATE,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdeadbabe))
         );
 
         // Setup maximum approvals so transfers don't require further approval
@@ -168,14 +224,67 @@ abstract contract ERC4626ValidationTest is HyperdriveTest {
         underlyingToken.approve(address(factory), type(uint256).max);
 
         // Deploy a new hyperdrive instance
+        bytes memory extraData = abi.encode(address(token));
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            0,
+            bytes32(uint256(0xfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            1,
+            bytes32(uint256(0xfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            2,
+            bytes32(uint256(0xfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            3,
+            bytes32(uint256(0xfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            4,
+            bytes32(uint256(0xfade))
+        );
         hyperdrive = factory.deployAndInitialize(
+            bytes32(uint256(0xbeef)),
             deployerCoordinator,
             config,
-            abi.encode(address(token), new address[](0)),
+            extraData,
             contribution,
             FIXED_RATE,
             FIXED_RATE,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xfade))
         );
 
         // Ensure minimumShareReserves were added, and lpTotalSupply increased
@@ -192,7 +301,7 @@ abstract contract ERC4626ValidationTest is HyperdriveTest {
             contribution,
             FIXED_RATE,
             config.minimumShareReserves,
-            abi.encode(address(token), new address[](0)),
+            extraData,
             1e5
         );
     }
diff --git a/test/instances/erc4626/Sweep.t.sol b/test/instances/erc4626/Sweep.t.sol
index c6d956140..c36701588 100644
--- a/test/instances/erc4626/Sweep.t.sol
+++ b/test/instances/erc4626/Sweep.t.sol
@@ -1,11 +1,12 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626Hyperdrive } from "contracts/src/instances/erc4626/ERC4626Hyperdrive.sol";
 import { ERC4626Target0 } from "contracts/src/instances/erc4626/ERC4626Target0.sol";
 import { ERC4626Target1 } from "contracts/src/instances/erc4626/ERC4626Target1.sol";
 import { ERC4626Target2 } from "contracts/src/instances/erc4626/ERC4626Target2.sol";
 import { ERC4626Target3 } from "contracts/src/instances/erc4626/ERC4626Target3.sol";
+import { ERC4626Target4 } from "contracts/src/instances/erc4626/ERC4626Target4.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
 import { IERC4626Hyperdrive } from "contracts/src/interfaces/IERC4626Hyperdrive.sol";
@@ -90,6 +91,12 @@ contract SweepTest is BaseTest {
                             IERC4626(address(leakyVault))
                         )
                     ),
+                    address(
+                        new ERC4626Target4(
+                            config,
+                            IERC4626(address(leakyVault))
+                        )
+                    ),
                     IERC4626(address(leakyVault))
                 )
             )
diff --git a/test/instances/erc4626/UsdcERC4626.t.sol b/test/instances/erc4626/UsdcERC4626.t.sol
index 1450eebf9..e86066e39 100644
--- a/test/instances/erc4626/UsdcERC4626.t.sol
+++ b/test/instances/erc4626/UsdcERC4626.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626HyperdriveCoreDeployer } from "contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol";
 import { ERC4626HyperdriveDeployerCoordinator } from "contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol";
@@ -7,11 +7,12 @@ import { ERC4626Target0Deployer } from "contracts/src/deployers/erc4626/ERC4626T
 import { ERC4626Target1Deployer } from "contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol";
 import { ERC4626Target2Deployer } from "contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol";
 import { ERC4626Target3Deployer } from "contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol";
+import { ERC4626Target4Deployer } from "contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol";
 import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-import { IDeployerCoordinator } from "contracts/src/interfaces/IDeployerCoordinator.sol";
+import { IHyperdriveDeployerCoordinator } from "contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol";
 import { ILido } from "contracts/src/interfaces/ILido.sol";
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
@@ -59,13 +60,15 @@ contract UsdcERC4626 is ERC4626ValidationTest {
         target1Deployer = address(new ERC4626Target1Deployer());
         target2Deployer = address(new ERC4626Target2Deployer());
         target3Deployer = address(new ERC4626Target3Deployer());
+        target4Deployer = address(new ERC4626Target4Deployer());
         deployerCoordinator = address(
             new ERC4626HyperdriveDeployerCoordinator(
                 coreDeployer,
                 target0Deployer,
                 target1Deployer,
                 target2Deployer,
-                target3Deployer
+                target3Deployer,
+                target4Deployer
             )
         );
 
@@ -129,14 +132,67 @@ contract UsdcERC4626 is ERC4626ValidationTest {
         underlyingToken.approve(address(factory), type(uint256).max);
 
         // Deploy and set hyperdrive instance.
+        bytes memory extraData = abi.encode(address(token));
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            0,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            1,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            2,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            3,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            extraData,
+            FIXED_RATE,
+            FIXED_RATE,
+            4,
+            bytes32(uint256(0xdeadfade))
+        );
         hyperdrive = factory.deployAndInitialize(
+            bytes32(uint256(0xbeefbabe)),
             deployerCoordinator,
             config,
-            abi.encode(address(token), new address[](0)),
+            extraData,
             contribution,
             FIXED_RATE,
             FIXED_RATE,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdeadfade))
         );
 
         // Setup maximum approvals so transfers don't require further approval.
diff --git a/test/instances/erc4626/sDai.t.sol b/test/instances/erc4626/sDai.t.sol
index 07eec7bfd..cbb8931f8 100644
--- a/test/instances/erc4626/sDai.t.sol
+++ b/test/instances/erc4626/sDai.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
diff --git a/test/instances/steth/StETHHyperdrive.t.sol b/test/instances/steth/StETHHyperdrive.t.sol
index f7d57c120..c51e844ab 100644
--- a/test/instances/steth/StETHHyperdrive.t.sol
+++ b/test/instances/steth/StETHHyperdrive.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdStorage, StdStorage } from "forge-std/Test.sol";
 import { StETHHyperdriveCoreDeployer } from "contracts/src/deployers/steth/StETHHyperdriveCoreDeployer.sol";
@@ -8,6 +8,7 @@ import { StETHTarget0Deployer } from "contracts/src/deployers/steth/StETHTarget0
 import { StETHTarget1Deployer } from "contracts/src/deployers/steth/StETHTarget1Deployer.sol";
 import { StETHTarget2Deployer } from "contracts/src/deployers/steth/StETHTarget2Deployer.sol";
 import { StETHTarget3Deployer } from "contracts/src/deployers/steth/StETHTarget3Deployer.sol";
+import { StETHTarget4Deployer } from "contracts/src/deployers/steth/StETHTarget4Deployer.sol";
 import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
@@ -94,6 +95,7 @@ contract StETHHyperdriveTest is HyperdriveTest {
                 address(new StETHTarget1Deployer(LIDO)),
                 address(new StETHTarget2Deployer(LIDO)),
                 address(new StETHTarget3Deployer(LIDO)),
+                address(new StETHTarget4Deployer(LIDO)),
                 LIDO
             )
         );
@@ -120,14 +122,66 @@ contract StETHHyperdriveTest is HyperdriveTest {
                 })
             });
         uint256 contribution = 10_000e18;
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            0,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            1,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            2,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            3,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            4,
+            bytes32(uint256(0xdeadbabe))
+        );
         hyperdrive = factory.deployAndInitialize{ value: contribution }(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
             new bytes(0),
             contribution,
             FIXED_RATE,
             FIXED_RATE,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdeadbabe))
         );
 
         // Ensure that Bob received the correct amount of LP tokens. She should
@@ -184,14 +238,66 @@ contract StETHHyperdriveTest is HyperdriveTest {
                 })
             });
         uint256 contribution = 5_000e18;
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            0,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            1,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            2,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            3,
+            bytes32(uint256(0xdeadfade))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeefbabe)),
+            deployerCoordinator,
+            config,
+            new bytes(0),
+            FIXED_RATE,
+            FIXED_RATE,
+            4,
+            bytes32(uint256(0xdeadfade))
+        );
         hyperdrive = factory.deployAndInitialize{ value: contribution + 1e18 }(
+            bytes32(uint256(0xbeefbabe)),
             address(deployerCoordinator),
             config,
             new bytes(0),
             contribution,
             FIXED_RATE,
             FIXED_RATE,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdeadfade))
         );
         assertEq(address(bob).balance, bobBalanceBefore - contribution);
 
diff --git a/test/instances/steth/Sweep.t.sol b/test/instances/steth/Sweep.t.sol
index 131f75a1d..1a48b3b30 100644
--- a/test/instances/steth/Sweep.t.sol
+++ b/test/instances/steth/Sweep.t.sol
@@ -1,11 +1,12 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { StETHHyperdrive } from "contracts/src/instances/steth/StETHHyperdrive.sol";
 import { StETHTarget0 } from "contracts/src/instances/steth/StETHTarget0.sol";
 import { StETHTarget1 } from "contracts/src/instances/steth/StETHTarget1.sol";
 import { StETHTarget2 } from "contracts/src/instances/steth/StETHTarget2.sol";
 import { StETHTarget3 } from "contracts/src/instances/steth/StETHTarget3.sol";
+import { StETHTarget4 } from "contracts/src/instances/steth/StETHTarget4.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { ILido } from "contracts/src/interfaces/ILido.sol";
 import { IStETHHyperdrive } from "contracts/src/interfaces/IStETHHyperdrive.sol";
@@ -78,6 +79,9 @@ contract SweepTest is BaseTest {
                     address(
                         new StETHTarget3(config, ILido(address(leakyLido)))
                     ),
+                    address(
+                        new StETHTarget4(config, ILido(address(leakyLido)))
+                    ),
                     ILido(address(leakyLido))
                 )
             )
diff --git a/test/integrations/factory/HyperdriveFactory.t.sol b/test/integrations/factory/HyperdriveFactory.t.sol
index 20556f8ac..ab1f8b2f0 100644
--- a/test/integrations/factory/HyperdriveFactory.t.sol
+++ b/test/integrations/factory/HyperdriveFactory.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { ERC4626HyperdriveCoreDeployer } from "contracts/src/deployers/erc4626/ERC4626HyperdriveCoreDeployer.sol";
 import { ERC4626HyperdriveDeployerCoordinator } from "contracts/src/deployers/erc4626/ERC4626HyperdriveDeployerCoordinator.sol";
@@ -7,13 +7,14 @@ import { ERC4626Target0Deployer } from "contracts/src/deployers/erc4626/ERC4626T
 import { ERC4626Target1Deployer } from "contracts/src/deployers/erc4626/ERC4626Target1Deployer.sol";
 import { ERC4626Target2Deployer } from "contracts/src/deployers/erc4626/ERC4626Target2Deployer.sol";
 import { ERC4626Target3Deployer } from "contracts/src/deployers/erc4626/ERC4626Target3Deployer.sol";
+import { ERC4626Target4Deployer } from "contracts/src/deployers/erc4626/ERC4626Target4Deployer.sol";
 import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
 import { MockERC4626, ERC20 } from "contracts/test/MockERC4626.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { IHyperdriveFactory } from "contracts/src/interfaces/IHyperdriveFactory.sol";
-import { IDeployerCoordinator } from "contracts/src/interfaces/IDeployerCoordinator.sol";
+import { IHyperdriveDeployerCoordinator } from "contracts/src/interfaces/IHyperdriveDeployerCoordinator.sol";
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
 import { ForwarderFactory } from "contracts/src/token/ForwarderFactory.sol";
@@ -1417,12 +1418,14 @@ contract HyperdriveFactoryTest is HyperdriveTest {
                 address(new ERC4626Target0Deployer()),
                 address(new ERC4626Target1Deployer()),
                 address(new ERC4626Target2Deployer()),
-                address(new ERC4626Target3Deployer())
+                address(new ERC4626Target3Deployer()),
+                address(new ERC4626Target4Deployer())
             )
         );
         factory.addDeployerCoordinator(deployerCoordinator);
 
-        // Define a config that can be reused for each test.
+        // Define a config that can be reused for each test and deploy the
+        // targets with this config.
         IHyperdrive.PoolDeployConfig memory config = IHyperdrive
             .PoolDeployConfig({
                 baseToken: IERC20(address(base)),
@@ -1437,470 +1440,644 @@ contract HyperdriveFactoryTest is HyperdriveTest {
                 linkerFactory: address(0),
                 linkerCodeHash: bytes32(0)
             });
-
-        // Ensure that an instance can't be deployed with a coordinator that
-        // hasn't been added.
         vm.stopPrank();
         vm.startPrank(bob);
         bytes memory extraData = abi.encode(vault);
-        vm.expectRevert(IHyperdriveFactory.InvalidDeployerCoordinator.selector);
-        factory.deployAndInitialize(
-            address(0xdeadbeef),
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
             config,
             extraData,
-            10_000e18,
-            0.02e18,
             0.05e18,
-            new bytes(0)
+            0.05e18,
+            0,
+            bytes32(uint256(0xdeadbabe))
         );
-
-        // Ensure than an instance can't be deployed with a checkpoint duration
-        // that is greater than the maximum checkpoint duration.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        uint256 oldCheckpointDuration = config.checkpointDuration;
-        config.checkpointDuration =
-            factory.maxCheckpointDuration() +
-            factory.checkpointDurationResolution();
-        vm.expectRevert(IHyperdriveFactory.InvalidCheckpointDuration.selector);
-        factory.deployAndInitialize(
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
             extraData,
-            10_000e18,
-            0.02e18,
             0.05e18,
-            new bytes(0)
+            0.05e18,
+            1,
+            bytes32(uint256(0xdeadbabe))
         );
-        config.checkpointDuration = oldCheckpointDuration;
-
-        // Ensure than an instance can't be deployed with a checkpoint duration
-        // that is less than the minimum checkpoint duration.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldCheckpointDuration = config.checkpointDuration;
-        config.checkpointDuration =
-            factory.minCheckpointDuration() -
-            factory.checkpointDurationResolution();
-        vm.expectRevert(IHyperdriveFactory.InvalidCheckpointDuration.selector);
-        factory.deployAndInitialize(
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
             extraData,
-            10_000e18,
-            0.02e18,
             0.05e18,
-            new bytes(0)
+            0.05e18,
+            2,
+            bytes32(uint256(0xdeadbabe))
         );
-        config.checkpointDuration = oldCheckpointDuration;
-
-        // Ensure than an instance can't be deployed with a checkpoint duration
-        // that isn't a multiple of the checkpoint duration resolution.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldCheckpointDuration = config.checkpointDuration;
-        config.checkpointDuration = factory.minCheckpointDuration() + 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidCheckpointDuration.selector);
-        factory.deployAndInitialize(
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
             extraData,
-            10_000e18,
-            0.02e18,
             0.05e18,
-            new bytes(0)
+            0.05e18,
+            3,
+            bytes32(uint256(0xdeadbabe))
         );
-        config.checkpointDuration = oldCheckpointDuration;
-
-        // Ensure than an instance can't be deployed with a position duration
-        // that is greater than the maximum position duration.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        uint256 oldPositionDuration = config.positionDuration;
-        config.positionDuration =
-            factory.maxPositionDuration() +
-            factory.checkpointDurationResolution();
-        vm.expectRevert(IHyperdriveFactory.InvalidPositionDuration.selector);
-        factory.deployAndInitialize(
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
             extraData,
-            10_000e18,
-            0.02e18,
             0.05e18,
-            new bytes(0)
+            0.05e18,
+            4,
+            bytes32(uint256(0xdeadbabe))
         );
-        config.positionDuration = oldPositionDuration;
+
+        // Ensure that an instance can't be deployed with a coordinator that
+        // hasn't been added.
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            vm.expectRevert(
+                IHyperdriveFactory.InvalidDeployerCoordinator.selector
+            );
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                address(0xdeadbeef),
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
+
+        // Ensure than an instance can't be deployed with a checkpoint duration
+        // that is greater than the maximum checkpoint duration.
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldCheckpointDuration = config.checkpointDuration;
+            config.checkpointDuration =
+                factory.maxCheckpointDuration() +
+                factory.checkpointDurationResolution();
+            vm.expectRevert(
+                IHyperdriveFactory.InvalidCheckpointDuration.selector
+            );
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.checkpointDuration = oldCheckpointDuration;
+        }
+
+        // Ensure than an instance can't be deployed with a checkpoint duration
+        // that is less than the minimum checkpoint duration.
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldCheckpointDuration = config.checkpointDuration;
+            config.checkpointDuration =
+                factory.minCheckpointDuration() -
+                factory.checkpointDurationResolution();
+            vm.expectRevert(
+                IHyperdriveFactory.InvalidCheckpointDuration.selector
+            );
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.checkpointDuration = oldCheckpointDuration;
+        }
+
+        // Ensure than an instance can't be deployed with a checkpoint duration
+        // that isn't a multiple of the checkpoint duration resolution.
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldCheckpointDuration = config.checkpointDuration;
+            config.checkpointDuration = factory.minCheckpointDuration() + 1;
+            vm.expectRevert(
+                IHyperdriveFactory.InvalidCheckpointDuration.selector
+            );
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.checkpointDuration = oldCheckpointDuration;
+        }
+
+        // Ensure than an instance can't be deployed with a position duration
+        // that is greater than the maximum position duration.
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldPositionDuration = config.positionDuration;
+            config.positionDuration =
+                factory.maxPositionDuration() +
+                factory.checkpointDurationResolution();
+            vm.expectRevert(
+                IHyperdriveFactory.InvalidPositionDuration.selector
+            );
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.positionDuration = oldPositionDuration;
+        }
 
         // Ensure than an instance can't be deployed with a position duration
         // that is less than the minimum position duration.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldPositionDuration = config.positionDuration;
-        config.positionDuration =
-            factory.minPositionDuration() -
-            factory.checkpointDurationResolution();
-        vm.expectRevert(IHyperdriveFactory.InvalidPositionDuration.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.positionDuration = oldPositionDuration;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldPositionDuration = config.positionDuration;
+            config.positionDuration =
+                factory.minPositionDuration() -
+                factory.checkpointDurationResolution();
+            vm.expectRevert(
+                IHyperdriveFactory.InvalidPositionDuration.selector
+            );
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.positionDuration = oldPositionDuration;
+        }
 
         // Ensure than an instance can't be deployed with a position duration
         // that isn't a multiple of the checkpoint duration.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldPositionDuration = config.positionDuration;
-        config.positionDuration = 365 * config.checkpointDuration + 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidPositionDuration.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.positionDuration = oldPositionDuration;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldPositionDuration = config.positionDuration;
+            config.positionDuration = 365 * config.checkpointDuration + 1;
+            vm.expectRevert(
+                IHyperdriveFactory.InvalidPositionDuration.selector
+            );
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.positionDuration = oldPositionDuration;
+        }
 
         // Ensure than an instance can't be deployed with a fixed APR less than
         // the minimum.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        uint256 fixedAPR = factory.minFixedAPR() - 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFixedAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            fixedAPR,
-            0.05e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 fixedAPR = factory.minFixedAPR() - 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFixedAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                fixedAPR,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a fixed APR greater
         // than the maximum.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        fixedAPR = factory.maxFixedAPR() + 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFixedAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            fixedAPR,
-            0.05e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 fixedAPR = factory.maxFixedAPR() + 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFixedAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                fixedAPR,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a time stretch APR
         // less than 0.5%.
-        vm.stopPrank();
-        vm.startPrank(factory.governance());
-        factory.updateMinTimeStretchAPR(0.001e18);
-        vm.stopPrank();
-        vm.startPrank(bob);
-        vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.001e18,
-            0.004e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(factory.governance());
+            factory.updateMinTimeStretchAPR(0.001e18);
+            vm.stopPrank();
+            vm.startPrank(bob);
+            vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.001e18,
+                0.004e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a time stretch APR
         // less than the fixed rate divided by two.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.006e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.006e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a time stretch APR
         // less than the minimum time stretch APR specified by governance.
-        vm.stopPrank();
-        vm.startPrank(factory.governance());
-        factory.updateMinTimeStretchAPR(0.02e18);
-        vm.stopPrank();
-        vm.startPrank(bob);
-        vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.019e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(factory.governance());
+            factory.updateMinTimeStretchAPR(0.02e18);
+            vm.stopPrank();
+            vm.startPrank(bob);
+            vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.019e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a time stretch APR
         // greater than the lower bound (0.5%) multiplied by two.
-        vm.stopPrank();
-        vm.startPrank(factory.governance());
-        factory.updateMinTimeStretchAPR(0.001e18);
-        vm.stopPrank();
-        vm.startPrank(bob);
-        vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.003e18,
-            0.011e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(factory.governance());
+            factory.updateMinTimeStretchAPR(0.001e18);
+            vm.stopPrank();
+            vm.startPrank(bob);
+            vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.003e18,
+                0.011e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a time stretch APR
         // greater than the fixed rate multiplied by two.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.012e18,
-            0.025e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.012e18,
+                0.025e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a time stretch APR
         // greater than the max time stretch APR specified by governance.
-        vm.stopPrank();
-        vm.startPrank(factory.governance());
-        factory.updateMaxTimeStretchAPR(0.3e18);
-        vm.stopPrank();
-        vm.startPrank(bob);
-        vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.3e18,
-            0.31e18,
-            new bytes(0)
-        );
+        {
+            vm.stopPrank();
+            vm.startPrank(factory.governance());
+            factory.updateMaxTimeStretchAPR(0.3e18);
+            vm.stopPrank();
+            vm.startPrank(bob);
+            vm.expectRevert(IHyperdriveFactory.InvalidTimeStretchAPR.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.3e18,
+                0.31e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+        }
 
         // Ensure than an instance can't be deployed with a curve fee greater
         // than the maximum curve fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        uint256 oldCurveFee = config.fees.curve;
-        config.fees.curve = factory.maxFees().curve + 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.curve = oldCurveFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldCurveFee = config.fees.curve;
+            config.fees.curve = factory.maxFees().curve + 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.curve = oldCurveFee;
+        }
 
         // Ensure than an instance can't be deployed with a curve fee less
         // than the minimum curve fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldCurveFee = config.fees.curve;
-        config.fees.curve = factory.minFees().curve - 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.curve = oldCurveFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldCurveFee = config.fees.curve;
+            config.fees.curve = factory.minFees().curve - 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.curve = oldCurveFee;
+        }
 
         // Ensure than an instance can't be deployed with a flat fee greater
         // than the maximum flat fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        uint256 oldFlatFee = config.fees.flat;
-        config.fees.flat = factory.maxFees().flat + 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.flat = oldFlatFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldFlatFee = config.fees.flat;
+            config.fees.flat = factory.maxFees().flat + 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.flat = oldFlatFee;
+        }
 
         // Ensure than an instance can't be deployed with a flat fee less
         // than the minimum flat fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldFlatFee = config.fees.flat;
-        config.fees.flat = factory.minFees().flat - 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.flat = oldFlatFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldFlatFee = config.fees.flat;
+            config.fees.flat = factory.minFees().flat - 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.flat = oldFlatFee;
+        }
 
         // Ensure than an instance can't be deployed with a governance LP fee
         // greater than the maximum governance LP fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        uint256 oldGovernanceLPFee = config.fees.governanceLP;
-        config.fees.governanceLP = factory.maxFees().governanceLP + 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.governanceLP = oldGovernanceLPFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldGovernanceLPFee = config.fees.governanceLP;
+            config.fees.governanceLP = factory.maxFees().governanceLP + 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.governanceLP = oldGovernanceLPFee;
+        }
 
         // Ensure than an instance can't be deployed with a governance LP fee
         // less than the minimum governance LP fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldGovernanceLPFee = config.fees.governanceLP;
-        config.fees.governanceLP = factory.minFees().governanceLP - 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.governanceLP = oldGovernanceLPFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldGovernanceLPFee = config.fees.governanceLP;
+            config.fees.governanceLP = factory.minFees().governanceLP - 1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.governanceLP = oldGovernanceLPFee;
+        }
 
         // Ensure than an instance can't be deployed with a governance zombie
         // fee greater than the maximum governance zombie fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        uint256 oldGovernanceZombieFee = config.fees.governanceZombie;
-        config.fees.governanceZombie = factory.maxFees().governanceZombie + 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.governanceZombie = oldGovernanceZombieFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldGovernanceZombieFee = config.fees.governanceZombie;
+            config.fees.governanceZombie =
+                factory.maxFees().governanceZombie +
+                1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.governanceZombie = oldGovernanceZombieFee;
+        }
 
         // Ensure than an instance can't be deployed with a governance zombie
         // fee less than the minimum governance zombie fee.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        oldGovernanceZombieFee = config.fees.governanceZombie;
-        config.fees.governanceZombie = factory.minFees().governanceZombie - 1;
-        vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.fees.governanceZombie = oldGovernanceZombieFee;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            uint256 oldGovernanceZombieFee = config.fees.governanceZombie;
+            config.fees.governanceZombie =
+                factory.minFees().governanceZombie -
+                1;
+            vm.expectRevert(IHyperdriveFactory.InvalidFees.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.fees.governanceZombie = oldGovernanceZombieFee;
+        }
 
         // Ensure than an instance can't be deployed with a linker factory that
         // is set.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        address oldLinkerFactory = config.linkerFactory;
-        config.linkerFactory = address(0xdeadbeef);
-        vm.expectRevert(IHyperdriveFactory.InvalidDeployConfig.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.linkerFactory = oldLinkerFactory;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            address oldLinkerFactory = config.linkerFactory;
+            config.linkerFactory = address(0xdeadbeef);
+            vm.expectRevert(IHyperdriveFactory.InvalidDeployConfig.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.linkerFactory = oldLinkerFactory;
+        }
 
         // Ensure than an instance can't be deployed with a linker code hash
         // that is set.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        bytes32 oldLinkerCodeHash = config.linkerCodeHash;
-        config.linkerCodeHash = bytes32(uint256(0xdeadbeef));
-        vm.expectRevert(IHyperdriveFactory.InvalidDeployConfig.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.linkerCodeHash = oldLinkerCodeHash;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            bytes32 oldLinkerCodeHash = config.linkerCodeHash;
+            config.linkerCodeHash = bytes32(uint256(0xdeadbeef));
+            vm.expectRevert(IHyperdriveFactory.InvalidDeployConfig.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.linkerCodeHash = oldLinkerCodeHash;
+        }
 
         // Ensure than an instance can't be deployed with a fee collector that
         // is set.
-        vm.stopPrank();
-        vm.startPrank(bob);
-        address oldFeeCollector = config.feeCollector;
-        config.feeCollector = address(0xdeadbeef);
-        vm.expectRevert(IHyperdriveFactory.InvalidDeployConfig.selector);
-        factory.deployAndInitialize(
-            deployerCoordinator,
-            config,
-            extraData,
-            10_000e18,
-            0.02e18,
-            0.05e18,
-            new bytes(0)
-        );
-        config.feeCollector = oldFeeCollector;
+        {
+            vm.stopPrank();
+            vm.startPrank(bob);
+            address oldFeeCollector = config.feeCollector;
+            config.feeCollector = address(0xdeadbeef);
+            vm.expectRevert(IHyperdriveFactory.InvalidDeployConfig.selector);
+            factory.deployAndInitialize(
+                bytes32(uint256(0xdeadbeef)),
+                deployerCoordinator,
+                config,
+                extraData,
+                10_000e18,
+                0.02e18,
+                0.05e18,
+                new bytes(0),
+                bytes32(uint256(0xdeadbabe))
+            );
+            config.feeCollector = oldFeeCollector;
+        }
 
         // Ensure than an instance can't be deployed with a governance address
         // that is set.
@@ -1910,13 +2087,15 @@ contract HyperdriveFactoryTest is HyperdriveTest {
         config.governance = address(0xdeadbeef);
         vm.expectRevert(IHyperdriveFactory.InvalidDeployConfig.selector);
         factory.deployAndInitialize(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
             extraData,
             10_000e18,
             0.02e18,
             0.05e18,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdeadbabe))
         );
         config.governance = oldGovernance;
     }
@@ -1933,6 +2112,7 @@ contract HyperdriveFactoryBaseTest is HyperdriveTest {
     address target1Deployer;
     address target2Deployer;
     address target3Deployer;
+    address target4Deployer;
 
     IERC20 dai = IERC20(address(0x6B175474E89094C44Da98b954EedeAC495271d0F));
 
@@ -1944,6 +2124,9 @@ contract HyperdriveFactoryBaseTest is HyperdriveTest {
     uint256 constant APR = 0.01e18; // 1% apr
     uint256 constant CONTRIBUTION = 2_500e18;
 
+    bytes32 deploymentId;
+    bytes32 salt;
+
     IHyperdrive.PoolDeployConfig config;
 
     function setUp() public virtual override __mainnet_fork(16_685_972) {
@@ -1958,6 +2141,7 @@ contract HyperdriveFactoryBaseTest is HyperdriveTest {
         target1Deployer = address(new ERC4626Target1Deployer());
         target2Deployer = address(new ERC4626Target2Deployer());
         target3Deployer = address(new ERC4626Target3Deployer());
+        target4Deployer = address(new ERC4626Target4Deployer());
 
         deployerCoordinator = address(
             new ERC4626HyperdriveDeployerCoordinator(
@@ -1965,7 +2149,8 @@ contract HyperdriveFactoryBaseTest is HyperdriveTest {
                 target0Deployer,
                 target1Deployer,
                 target2Deployer,
-                target3Deployer
+                target3Deployer,
+                target4Deployer
             )
         );
         address[] memory defaults = new address[](1);
@@ -2049,6 +2234,10 @@ contract HyperdriveFactoryBaseTest is HyperdriveTest {
             )
         );
 
+        // Initialize the deployment ID and salt.
+        deploymentId = keccak256("deploymentId");
+        salt = keccak256("salt");
+
         // Start recording events.
         vm.recordLogs();
     }
@@ -2063,14 +2252,69 @@ contract HyperdriveFactoryBaseTest is HyperdriveTest {
 
         dai.approve(address(factory), CONTRIBUTION);
 
+        deploymentId = keccak256(abi.encode(deploymentId));
+        salt = keccak256(abi.encode(salt));
+        bytes memory extraData = abi.encode(address(pool));
+        factory.deployTarget(
+            deploymentId,
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            0,
+            salt
+        );
+        factory.deployTarget(
+            deploymentId,
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            1,
+            salt
+        );
+        factory.deployTarget(
+            deploymentId,
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            2,
+            salt
+        );
+        factory.deployTarget(
+            deploymentId,
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            3,
+            salt
+        );
+        factory.deployTarget(
+            deploymentId,
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            4,
+            salt
+        );
         IHyperdrive hyperdrive = factory.deployAndInitialize(
+            deploymentId,
             deployerCoordinator,
             config,
-            abi.encode(address(pool), new address[](0)), // TODO: Add test with sweeps
+            extraData,
             CONTRIBUTION,
             APR,
             APR,
-            new bytes(0)
+            new bytes(0),
+            salt
         );
 
         vm.stopPrank();
@@ -2093,7 +2337,8 @@ contract ERC4626FactoryMultiDeployTest is HyperdriveFactoryBaseTest {
                 address(new ERC4626Target0Deployer()),
                 address(new ERC4626Target1Deployer()),
                 address(new ERC4626Target2Deployer()),
-                address(new ERC4626Target3Deployer())
+                address(new ERC4626Target3Deployer()),
+                address(new ERC4626Target4Deployer())
             )
         );
 
@@ -2116,14 +2361,67 @@ contract ERC4626FactoryMultiDeployTest is HyperdriveFactoryBaseTest {
         assertEq(dai.balanceOf(charlie), CONTRIBUTION);
         assertEq(dai.balanceOf(address(pool1)), 0);
 
+        bytes memory extraData = abi.encode(address(pool1));
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            0,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            1,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            2,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            3,
+            bytes32(uint256(0xdeadbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdeadbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            4,
+            bytes32(uint256(0xdeadbabe))
+        );
         IHyperdrive hyperdrive1 = factory.deployAndInitialize(
+            bytes32(uint256(0xdeadbeef)),
             deployerCoordinator,
             config,
-            abi.encode(address(pool1), new address[](0)),
+            extraData,
             CONTRIBUTION,
             APR,
             APR,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdeadbabe))
         );
 
         assertEq(dai.balanceOf(charlie), 0);
@@ -2146,7 +2444,7 @@ contract ERC4626FactoryMultiDeployTest is HyperdriveFactoryBaseTest {
             CONTRIBUTION,
             APR,
             config.minimumShareReserves,
-            abi.encode(address(pool1), new address[](0)),
+            extraData,
             0
         );
 
@@ -2163,14 +2461,67 @@ contract ERC4626FactoryMultiDeployTest is HyperdriveFactoryBaseTest {
 
         dai.approve(address(factory), CONTRIBUTION);
 
+        extraData = abi.encode(address(pool2));
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator1,
+            config,
+            extraData,
+            APR,
+            APR,
+            0,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator1,
+            config,
+            extraData,
+            APR,
+            APR,
+            1,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator1,
+            config,
+            extraData,
+            APR,
+            APR,
+            2,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator1,
+            config,
+            extraData,
+            APR,
+            APR,
+            3,
+            bytes32(uint256(0xbabe))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xdead)),
+            deployerCoordinator1,
+            config,
+            extraData,
+            APR,
+            APR,
+            4,
+            bytes32(uint256(0xbabe))
+        );
         IHyperdrive hyperdrive2 = factory.deployAndInitialize(
+            bytes32(uint256(0xdead)),
             deployerCoordinator1,
             config,
-            abi.encode(address(pool2), new address[](0)),
+            extraData,
             CONTRIBUTION,
             APR,
             APR,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xbabe))
         );
 
         assertEq(dai.balanceOf(charlie), 0);
@@ -2193,7 +2544,7 @@ contract ERC4626FactoryMultiDeployTest is HyperdriveFactoryBaseTest {
             CONTRIBUTION,
             APR,
             config.minimumShareReserves,
-            abi.encode(address(pool2), new address[](0)),
+            extraData,
             0
         );
 
@@ -2217,14 +2568,67 @@ contract ERC4626FactoryMultiDeployTest is HyperdriveFactoryBaseTest {
         assertEq(dai.balanceOf(dan), CONTRIBUTION);
         assertEq(dai.balanceOf(address(pool2)), CONTRIBUTION); // From Charlie
 
+        extraData = abi.encode(address(pool2));
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            0,
+            bytes32(uint256(0xdead))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            1,
+            bytes32(uint256(0xdead))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            2,
+            bytes32(uint256(0xdead))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            3,
+            bytes32(uint256(0xdead))
+        );
+        factory.deployTarget(
+            bytes32(uint256(0xbeef)),
+            deployerCoordinator,
+            config,
+            extraData,
+            APR,
+            APR,
+            4,
+            bytes32(uint256(0xdead))
+        );
         IHyperdrive hyperdrive3 = factory.deployAndInitialize(
+            bytes32(uint256(0xbeef)),
             deployerCoordinator,
             config,
-            abi.encode(address(pool2), new address[](0)),
+            extraData,
             CONTRIBUTION,
             APR,
             APR,
-            new bytes(0)
+            new bytes(0),
+            bytes32(uint256(0xdead))
         );
 
         assertEq(dai.balanceOf(dan), 0);
@@ -2247,7 +2651,7 @@ contract ERC4626FactoryMultiDeployTest is HyperdriveFactoryBaseTest {
             CONTRIBUTION,
             APR,
             config.minimumShareReserves,
-            abi.encode(address(pool2), new address[](0)),
+            extraData,
             0
         );
 
@@ -2390,7 +2794,8 @@ contract DeployerCoordinatorGetterTest is HyperdriveTest {
                     address(new ERC4626Target0Deployer()),
                     address(new ERC4626Target1Deployer()),
                     address(new ERC4626Target2Deployer()),
-                    address(new ERC4626Target3Deployer())
+                    address(new ERC4626Target3Deployer()),
+                    address(new ERC4626Target4Deployer())
                 )
             );
 
@@ -2424,7 +2829,8 @@ contract DeployerCoordinatorGetterTest is HyperdriveTest {
                     address(new ERC4626Target0Deployer()),
                     address(new ERC4626Target1Deployer()),
                     address(new ERC4626Target2Deployer()),
-                    address(new ERC4626Target3Deployer())
+                    address(new ERC4626Target3Deployer()),
+                    address(new ERC4626Target4Deployer())
                 )
             );
 
@@ -2472,7 +2878,8 @@ contract DeployerCoordinatorGetterTest is HyperdriveTest {
                     address(new ERC4626Target0Deployer()),
                     address(new ERC4626Target1Deployer()),
                     address(new ERC4626Target2Deployer()),
-                    address(new ERC4626Target3Deployer())
+                    address(new ERC4626Target3Deployer()),
+                    address(new ERC4626Target4Deployer())
                 )
             );
 
diff --git a/test/integrations/hyperdrive/IntraCheckpointNettingTest.t.sol b/test/integrations/hyperdrive/IntraCheckpointNettingTest.t.sol
index 9b454e876..e7e90b2b9 100644
--- a/test/integrations/hyperdrive/IntraCheckpointNettingTest.t.sol
+++ b/test/integrations/hyperdrive/IntraCheckpointNettingTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
diff --git a/test/integrations/hyperdrive/LPWithdrawalTest.t.sol b/test/integrations/hyperdrive/LPWithdrawalTest.t.sol
index 7afcdec85..5aba41624 100644
--- a/test/integrations/hyperdrive/LPWithdrawalTest.t.sol
+++ b/test/integrations/hyperdrive/LPWithdrawalTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
@@ -781,6 +781,7 @@ contract LPWithdrawalTest is HyperdriveTest {
             );
         }
         vm.revertTo(snapshotId);
+        snapshotId = vm.snapshot();
         {
             uint256 longBasePaid = 4107; //0.001000000000004107
             uint256 shortAmount = 49890332890205; //0.001049890332890205
@@ -792,6 +793,7 @@ contract LPWithdrawalTest is HyperdriveTest {
             );
         }
         vm.revertTo(snapshotId);
+        snapshotId = vm.snapshot();
         {
             uint256 longBasePaid = 47622440666488;
             uint256 shortAmount = 99991360285271;
@@ -804,6 +806,7 @@ contract LPWithdrawalTest is HyperdriveTest {
         }
         // This edge case caused the present value to become negative.
         vm.revertTo(snapshotId);
+        snapshotId = vm.snapshot();
         {
             uint256 longBasePaid = 9359120568038014548496614986532107423060977700952779944229929110473;
             uint256 shortAmount = 6363481524035208645046457754761807956049413076188199707925459155397040;
diff --git a/test/integrations/hyperdrive/NegativeInterestLongFeeTest.t.sol b/test/integrations/hyperdrive/NegativeInterestLongFeeTest.t.sol
index e8de0ff24..9d915aa54 100644
--- a/test/integrations/hyperdrive/NegativeInterestLongFeeTest.t.sol
+++ b/test/integrations/hyperdrive/NegativeInterestLongFeeTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
diff --git a/test/integrations/hyperdrive/NegativeInterestShortFeeTest.t.sol b/test/integrations/hyperdrive/NegativeInterestShortFeeTest.t.sol
index dabc85a32..5c7a54a26 100644
--- a/test/integrations/hyperdrive/NegativeInterestShortFeeTest.t.sol
+++ b/test/integrations/hyperdrive/NegativeInterestShortFeeTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
diff --git a/test/integrations/hyperdrive/NonstandardDecimals.sol b/test/integrations/hyperdrive/NonstandardDecimals.sol
index 5e8466a6a..0e1c7fdd6 100644
--- a/test/integrations/hyperdrive/NonstandardDecimals.sol
+++ b/test/integrations/hyperdrive/NonstandardDecimals.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
diff --git a/test/integrations/hyperdrive/PresentValueTest.t.sol b/test/integrations/hyperdrive/PresentValueTest.t.sol
index 853f990a0..194b73686 100644
--- a/test/integrations/hyperdrive/PresentValueTest.t.sol
+++ b/test/integrations/hyperdrive/PresentValueTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { console2 as console } from "forge-std/console2.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/integrations/hyperdrive/ReentrancyTest.t.sol b/test/integrations/hyperdrive/ReentrancyTest.t.sol
index e32b77ab9..47fd80f5f 100644
--- a/test/integrations/hyperdrive/ReentrancyTest.t.sol
+++ b/test/integrations/hyperdrive/ReentrancyTest.t.sol
@@ -1,7 +1,8 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
+import { ReentrancyGuard } from "openzeppelin/utils/ReentrancyGuard.sol";
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { ERC20Mintable } from "contracts/test/ERC20Mintable.sol";
@@ -30,7 +31,14 @@ contract ReentrancyTester {
 
     function _testReentrancy() internal {
         (bool success, bytes memory data) = _target.call(_data);
-        if (!success && data.eq("REENTRANCY".toError())) {
+        if (
+            !success &&
+            data.eq(
+                abi.encodeWithSelector(
+                    ReentrancyGuard.ReentrancyGuardReentrantCall.selector
+                )
+            )
+        ) {
             isSuccess = true;
         }
     }
diff --git a/test/integrations/hyperdrive/RoundTripTest.t.sol b/test/integrations/hyperdrive/RoundTripTest.t.sol
index dc7420003..6fca1764c 100644
--- a/test/integrations/hyperdrive/RoundTripTest.t.sol
+++ b/test/integrations/hyperdrive/RoundTripTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/integrations/hyperdrive/SandwichTest.t.sol b/test/integrations/hyperdrive/SandwichTest.t.sol
index d47ecfbb5..b7fd00c28 100644
--- a/test/integrations/hyperdrive/SandwichTest.t.sol
+++ b/test/integrations/hyperdrive/SandwichTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
diff --git a/test/integrations/hyperdrive/VariableInterestLongTest.t.sol b/test/integrations/hyperdrive/VariableInterestLongTest.t.sol
index b0c312c98..42c258906 100644
--- a/test/integrations/hyperdrive/VariableInterestLongTest.t.sol
+++ b/test/integrations/hyperdrive/VariableInterestLongTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
diff --git a/test/integrations/hyperdrive/VariableInterestShortTest.t.sol b/test/integrations/hyperdrive/VariableInterestShortTest.t.sol
index 4f6368bc3..82d4a82b5 100644
--- a/test/integrations/hyperdrive/VariableInterestShortTest.t.sol
+++ b/test/integrations/hyperdrive/VariableInterestShortTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
 import { HyperdriveMath } from "contracts/src/libraries/HyperdriveMath.sol";
diff --git a/test/integrations/hyperdrive/ZombieInterestTest.t.sol b/test/integrations/hyperdrive/ZombieInterestTest.t.sol
index 6d85e9f40..53f3a9d04 100644
--- a/test/integrations/hyperdrive/ZombieInterestTest.t.sol
+++ b/test/integrations/hyperdrive/ZombieInterestTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
 import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
diff --git a/test/units/ForceRevertDelegatecall.t.sol b/test/units/ForceRevertDelegatecall.t.sol
index 2bcd1aafe..d4c056d43 100644
--- a/test/units/ForceRevertDelegatecall.t.sol
+++ b/test/units/ForceRevertDelegatecall.t.sol
@@ -53,6 +53,7 @@ contract DummyHyperdrive is Hyperdrive, MockHyperdriveBase {
             address(new DummyProvider()),
             address(0),
             address(0),
+            address(0),
             address(0)
         )
     {}
diff --git a/test/units/MultiToken.t.sol b/test/units/MultiToken.t.sol
index f80c84e12..5068e84f5 100644
--- a/test/units/MultiToken.t.sol
+++ b/test/units/MultiToken.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
diff --git a/test/units/hyperdrive/AddLiquidityTest.t.sol b/test/units/hyperdrive/AddLiquidityTest.t.sol
index 017ce4b41..7c286f807 100644
--- a/test/units/hyperdrive/AddLiquidityTest.t.sol
+++ b/test/units/hyperdrive/AddLiquidityTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { VmSafe } from "forge-std/Vm.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/units/hyperdrive/CheckpointTest.t.sol b/test/units/hyperdrive/CheckpointTest.t.sol
index cbfdee7b1..f1001b930 100644
--- a/test/units/hyperdrive/CheckpointTest.t.sol
+++ b/test/units/hyperdrive/CheckpointTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { HyperdriveTest, HyperdriveUtils, MockHyperdrive, IHyperdrive } from "test/utils/HyperdriveTest.sol";
diff --git a/test/units/hyperdrive/CloseLongTest.t.sol b/test/units/hyperdrive/CloseLongTest.t.sol
index 15cfee704..775d7c029 100644
--- a/test/units/hyperdrive/CloseLongTest.t.sol
+++ b/test/units/hyperdrive/CloseLongTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { VmSafe } from "forge-std/Vm.sol";
diff --git a/test/units/hyperdrive/CloseShortTest.t.sol b/test/units/hyperdrive/CloseShortTest.t.sol
index ee513e68f..cc31b3534 100644
--- a/test/units/hyperdrive/CloseShortTest.t.sol
+++ b/test/units/hyperdrive/CloseShortTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { VmSafe } from "forge-std/Vm.sol";
diff --git a/test/units/hyperdrive/DataProvider.t.sol b/test/units/hyperdrive/DataProvider.t.sol
index daa53e178..de0644b00 100644
--- a/test/units/hyperdrive/DataProvider.t.sol
+++ b/test/units/hyperdrive/DataProvider.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { HyperdriveTest } from "test/utils/HyperdriveTest.sol";
 
diff --git a/test/units/hyperdrive/ExtremeInputs.t.sol b/test/units/hyperdrive/ExtremeInputs.t.sol
index eb6705feb..b250831b2 100644
--- a/test/units/hyperdrive/ExtremeInputs.t.sol
+++ b/test/units/hyperdrive/ExtremeInputs.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
diff --git a/test/units/hyperdrive/FeeTest.t.sol b/test/units/hyperdrive/FeeTest.t.sol
index 443a10729..2624443db 100644
--- a/test/units/hyperdrive/FeeTest.t.sol
+++ b/test/units/hyperdrive/FeeTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/units/hyperdrive/InitializeTest.t.sol b/test/units/hyperdrive/InitializeTest.t.sol
index 4b29417a1..8e93aa6a4 100644
--- a/test/units/hyperdrive/InitializeTest.t.sol
+++ b/test/units/hyperdrive/InitializeTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { VmSafe } from "forge-std/Vm.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/units/hyperdrive/OpenLongTest.t.sol b/test/units/hyperdrive/OpenLongTest.t.sol
index 0557b0cf7..2f05ec391 100644
--- a/test/units/hyperdrive/OpenLongTest.t.sol
+++ b/test/units/hyperdrive/OpenLongTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { VmSafe } from "forge-std/Vm.sol";
diff --git a/test/units/hyperdrive/OpenShortTest.t.sol b/test/units/hyperdrive/OpenShortTest.t.sol
index 121367ca5..bbcbdd8a6 100644
--- a/test/units/hyperdrive/OpenShortTest.t.sol
+++ b/test/units/hyperdrive/OpenShortTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { VmSafe } from "forge-std/Vm.sol";
diff --git a/test/units/hyperdrive/RedeemWithdrawalSharesTest.t.sol b/test/units/hyperdrive/RedeemWithdrawalSharesTest.t.sol
index 23be76f12..fbfd7c607 100644
--- a/test/units/hyperdrive/RedeemWithdrawalSharesTest.t.sol
+++ b/test/units/hyperdrive/RedeemWithdrawalSharesTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { VmSafe } from "forge-std/Vm.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/units/hyperdrive/RemoveLiquidityTest.t.sol b/test/units/hyperdrive/RemoveLiquidityTest.t.sol
index 9265d08b0..3e8bad474 100644
--- a/test/units/hyperdrive/RemoveLiquidityTest.t.sol
+++ b/test/units/hyperdrive/RemoveLiquidityTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError } from "forge-std/StdError.sol";
 import { VmSafe } from "forge-std/Vm.sol";
diff --git a/test/units/hyperdrive/UpdateLiquidityTest.t.sol b/test/units/hyperdrive/UpdateLiquidityTest.t.sol
index bf745a1ce..e67fa83d1 100644
--- a/test/units/hyperdrive/UpdateLiquidityTest.t.sol
+++ b/test/units/hyperdrive/UpdateLiquidityTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/units/libraries/AssetId.t.sol b/test/units/libraries/AssetId.t.sol
index 298c7e003..51f87901f 100644
--- a/test/units/libraries/AssetId.t.sol
+++ b/test/units/libraries/AssetId.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
diff --git a/test/units/libraries/FixedPointMath.t.sol b/test/units/libraries/FixedPointMath.t.sol
index ecb1a3d9a..46f961b4c 100644
--- a/test/units/libraries/FixedPointMath.t.sol
+++ b/test/units/libraries/FixedPointMath.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { stdError, Test } from "forge-std/Test.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
@@ -206,6 +206,10 @@ contract FixedPointMathTest is Test {
     function test_updateWeightedAverage() public {
         // NOTE: Coverage only works if I initialize the fixture in the test function
         MockFixedPointMath mockFixedPointMath = new MockFixedPointMath();
+        assertEq(
+            mockFixedPointMath.updateWeightedAverage(2e18, 1e18, 3e18, 0, true),
+            2e18
+        );
         assertEq(
             mockFixedPointMath.updateWeightedAverage(
                 1e18,
diff --git a/test/units/libraries/HyperdriveMath.t.sol b/test/units/libraries/HyperdriveMath.t.sol
index 729abfe1d..b7888bf03 100644
--- a/test/units/libraries/HyperdriveMath.t.sol
+++ b/test/units/libraries/HyperdriveMath.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
diff --git a/test/units/libraries/HyperdriveUtilsTest.t.sol b/test/units/libraries/HyperdriveUtilsTest.t.sol
index bbb448df7..7ff58de95 100644
--- a/test/units/libraries/HyperdriveUtilsTest.t.sol
+++ b/test/units/libraries/HyperdriveUtilsTest.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
diff --git a/test/units/libraries/LPMath.t.sol b/test/units/libraries/LPMath.t.sol
index 5caa57822..099895660 100644
--- a/test/units/libraries/LPMath.t.sol
+++ b/test/units/libraries/LPMath.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { FixedPointMath, ONE } from "contracts/src/libraries/FixedPointMath.sol";
 import { LPMath } from "contracts/src/libraries/LPMath.sol";
diff --git a/test/units/libraries/YieldSpaceMath.t.sol b/test/units/libraries/YieldSpaceMath.t.sol
index d6a11191b..80bc67a75 100644
--- a/test/units/libraries/YieldSpaceMath.t.sol
+++ b/test/units/libraries/YieldSpaceMath.t.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { Test } from "forge-std/Test.sol";
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
diff --git a/test/utils/BaseTest.sol b/test/utils/BaseTest.sol
index a1ef55eb2..a79c7ffed 100644
--- a/test/utils/BaseTest.sol
+++ b/test/utils/BaseTest.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { console2 } from "forge-std/console2.sol";
 import { Test } from "forge-std/Test.sol";
diff --git a/test/utils/CombinatorialTest.sol b/test/utils/CombinatorialTest.sol
index eb9ff7316..0bbd5bd64 100644
--- a/test/utils/CombinatorialTest.sol
+++ b/test/utils/CombinatorialTest.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { BaseTest } from "./BaseTest.sol";
 import { Lib as lib } from "./Lib.sol";
diff --git a/test/utils/Constants.sol b/test/utils/Constants.sol
index 2338cf4b6..6004a9b9b 100644
--- a/test/utils/Constants.sol
+++ b/test/utils/Constants.sol
@@ -1,4 +1,4 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 address constant ETH = 0xEeeeeEeeeEeEeeEeEeEeeEEEeeeeEeeeeeeeEEeE;
diff --git a/test/utils/HyperdriveTest.sol b/test/utils/HyperdriveTest.sol
index d89f73e60..a04d4d163 100644
--- a/test/utils/HyperdriveTest.sol
+++ b/test/utils/HyperdriveTest.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { VmSafe } from "forge-std/Vm.sol";
 import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
diff --git a/test/utils/HyperdriveUtils.sol b/test/utils/HyperdriveUtils.sol
index ab0e4b340..323c8b7ae 100644
--- a/test/utils/HyperdriveUtils.sol
+++ b/test/utils/HyperdriveUtils.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
 import { AssetId } from "contracts/src/libraries/AssetId.sol";
diff --git a/test/utils/Lib.sol b/test/utils/Lib.sol
index 0a6d67417..d8e252560 100644
--- a/test/utils/Lib.sol
+++ b/test/utils/Lib.sol
@@ -1,5 +1,5 @@
 // SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
+pragma solidity 0.8.20;
 
 import { console2 } from "forge-std/console2.sol";
 import { stdMath } from "forge-std/StdMath.sol";