✨ debt-manager: support cross-deleverage

.changeset/tiny-bears-hammer.md

@@ -0,0 +1,5 @@
+---
+"@exactly/protocol": patch
+---
+
+✨ debt-manager: support cross-deleverage

.gas-snapshot

@@ -10,55 +10,59 @@ AuditorTest:testEnableMarketAuditorMismatch() (gas: 24805)
 AuditorTest:testEnableMarketShouldRevertWithInvalidPriceFeed() (gas: 149281)
 AuditorTest:testEnterExitMarket() (gas: 178761)
 AuditorTest:testExitMarketOwning() (gas: 177445)
-DebtManagerTest:testApproveMaliciousMarket() (gas: 29094)
-DebtManagerTest:testApproveMarket() (gas: 61541)
-DebtManagerTest:testAvailableLiquidity() (gas: 127236)
-DebtManagerTest:testBalancerFlashloanCallFromDifferentOrigin() (gas: 65836)
-DebtManagerTest:testCallReceiveFlashLoanFromAnyAddress() (gas: 33615)
-DebtManagerTest:testCrossLeverageFromUSDCToWETH() (gas: 972581)
-DebtManagerTest:testCrossLeverageFromwstETHtoWETH() (gas: 934255)
-DebtManagerTest:testCrossLeverageWithDeposit() (gas: 924350)
-DebtManagerTest:testCrossLeverageWithInvalidFee() (gas: 154892)
-DebtManagerTest:testDeleverage() (gas: 760044)
-DebtManagerTest:testDeleverageHalfBorrowPosition() (gas: 800712)
-DebtManagerTest:testDeleverageWithWithdraw() (gas: 794237)
-DebtManagerTest:testFixedDeleverage() (gas: 732125)
-DebtManagerTest:testFixedRoll() (gas: 832061)
+DebtManagerTest:testApproveMaliciousMarket() (gas: 29116)
+DebtManagerTest:testApproveMarket() (gas: 61563)
+DebtManagerTest:testAvailableLiquidity() (gas: 127148)
+DebtManagerTest:testBalancerFlashloanCallFromDifferentOrigin() (gas: 65858)
+DebtManagerTest:testCallReceiveFlashLoanFromAnyAddress() (gas: 33637)
+DebtManagerTest:testCrossDeleverageFromWETHToUSDC() (gas: 1129135)
+DebtManagerTest:testCrossDeleverageFromwstETHToWETH() (gas: 1052805)
+DebtManagerTest:testCrossDeleverageWithInvalidFee() (gas: 785986)
+DebtManagerTest:testCrossDeleverageWithInvalidPercentage() (gas: 1104620)
+DebtManagerTest:testCrossLeverageFromUSDCToWETH() (gas: 973049)
+DebtManagerTest:testCrossLeverageFromwstETHtoWETH() (gas: 934723)
+DebtManagerTest:testCrossLeverageWithDeposit() (gas: 924818)
+DebtManagerTest:testCrossLeverageWithInvalidFee() (gas: 155019)
+DebtManagerTest:testDeleverage() (gas: 760132)
+DebtManagerTest:testDeleverageHalfBorrowPosition() (gas: 800866)
+DebtManagerTest:testDeleverageWithWithdraw() (gas: 794325)
+DebtManagerTest:testFixedDeleverage() (gas: 732169)
+DebtManagerTest:testFixedRoll() (gas: 832083)
 DebtManagerTest:testFixedRollSameMaturityWithThreeLoops() (gas: 690162)
-DebtManagerTest:testFixedRollWithAccurateBorrowSlippage() (gas: 1156577)
-DebtManagerTest:testFixedRollWithAccurateBorrowSlippageWithThreeLoops() (gas: 2080139)
-DebtManagerTest:testFixedRollWithAccurateRepaySlippage() (gas: 1156537)
-DebtManagerTest:testFixedRollWithAccurateRepaySlippageWithThreeLoops() (gas: 2074877)
-DebtManagerTest:testFixedToFloatingRoll() (gas: 787156)
-DebtManagerTest:testFixedToFloatingRollHigherThanAvailableLiquidity() (gas: 917251)
-DebtManagerTest:testFixedToFloatingRollHigherThanAvailableLiquidityWithSlippage() (gas: 1349570)
-DebtManagerTest:testFixedToFloatingRollHigherThanAvailableLiquidityWithSlippageWithThreeLoops() (gas: 1948971)
-DebtManagerTest:testFixedToFloatingRollWithAccurateSlippage() (gas: 1053097)
-DebtManagerTest:testFlashloanFeeGreaterThanZero() (gas: 692539)
-DebtManagerTest:testFloatingToFixedRoll() (gas: 808584)
-DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidity() (gas: 956240)
-DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidityWithSlippage() (gas: 1452843)
-DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidityWithSlippageWithThreePools() (gas: 2218100)
-DebtManagerTest:testFloatingToFixedRollWithAccurateSlippage() (gas: 1133688)
-DebtManagerTest:testFloatingToFixedRollWithAccurateSlippageWithPreviousPosition() (gas: 1141687)
-DebtManagerTest:testLateFixedDeleverage() (gas: 857112)
-DebtManagerTest:testLateFixedRoll() (gas: 915668)
-DebtManagerTest:testLateFixedRollWithThreeLoops() (gas: 1432856)
-DebtManagerTest:testLateFixedToFloatingRoll() (gas: 869320)
-DebtManagerTest:testLateFixedToFloatingRollWithThreeLoops() (gas: 1359083)
-DebtManagerTest:testLeverage() (gas: 634676)
-DebtManagerTest:testLeverageShouldFailWhenHealthFactorNearOne() (gas: 1270622)
-DebtManagerTest:testLeverageWithAlreadyDepositedAmount() (gas: 668330)
-DebtManagerTest:testLeverageWithInvalidBalancerVault() (gas: 3757470)
-DebtManagerTest:testMockBalancerVault() (gas: 5443352)
-DebtManagerTest:testPartialFixedDeleverage() (gas: 798591)
-DebtManagerTest:testPartialFixedRoll() (gas: 875325)
-DebtManagerTest:testPartialFixedToFloatingRoll() (gas: 845410)
-DebtManagerTest:testPartialLateFixedRoll() (gas: 960501)
-DebtManagerTest:testPartialLateFixedToFloatingRoll() (gas: 936905)
-DebtManagerTest:testPermit2AndLeverage() (gas: 781144)
-DebtManagerTest:testPermitAndDeleverage() (gas: 835432)
-DebtManagerTest:testPermitAndRollFloatingToFixed() (gas: 893978)
+DebtManagerTest:testFixedRollWithAccurateBorrowSlippage() (gas: 1156621)
+DebtManagerTest:testFixedRollWithAccurateBorrowSlippageWithThreeLoops() (gas: 2080183)
+DebtManagerTest:testFixedRollWithAccurateRepaySlippage() (gas: 1156603)
+DebtManagerTest:testFixedRollWithAccurateRepaySlippageWithThreeLoops() (gas: 2074921)
+DebtManagerTest:testFixedToFloatingRoll() (gas: 787178)
+DebtManagerTest:testFixedToFloatingRollHigherThanAvailableLiquidity() (gas: 917273)
+DebtManagerTest:testFixedToFloatingRollHigherThanAvailableLiquidityWithSlippage() (gas: 1349614)
+DebtManagerTest:testFixedToFloatingRollHigherThanAvailableLiquidityWithSlippageWithThreeLoops() (gas: 1949037)
+DebtManagerTest:testFixedToFloatingRollWithAccurateSlippage() (gas: 1053163)
+DebtManagerTest:testFlashloanFeeGreaterThanZero() (gas: 692583)
+DebtManagerTest:testFloatingToFixedRoll() (gas: 808606)
+DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidity() (gas: 956262)
+DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidityWithSlippage() (gas: 1452887)
+DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidityWithSlippageWithThreePools() (gas: 2218166)
+DebtManagerTest:testFloatingToFixedRollWithAccurateSlippage() (gas: 1133754)
+DebtManagerTest:testFloatingToFixedRollWithAccurateSlippageWithPreviousPosition() (gas: 1141753)
+DebtManagerTest:testLateFixedDeleverage() (gas: 857156)
+DebtManagerTest:testLateFixedRoll() (gas: 915690)
+DebtManagerTest:testLateFixedRollWithThreeLoops() (gas: 1432878)
+DebtManagerTest:testLateFixedToFloatingRoll() (gas: 869342)
+DebtManagerTest:testLateFixedToFloatingRollWithThreeLoops() (gas: 1359105)
+DebtManagerTest:testLeverage() (gas: 634720)
+DebtManagerTest:testLeverageShouldFailWhenHealthFactorNearOne() (gas: 1270732)
+DebtManagerTest:testLeverageWithAlreadyDepositedAmount() (gas: 668352)
+DebtManagerTest:testLeverageWithInvalidBalancerVault() (gas: 4043629)
+DebtManagerTest:testMockBalancerVault() (gas: 5729555)
+DebtManagerTest:testPartialFixedDeleverage() (gas: 798613)
+DebtManagerTest:testPartialFixedRoll() (gas: 875347)
+DebtManagerTest:testPartialFixedToFloatingRoll() (gas: 845454)
+DebtManagerTest:testPartialLateFixedRoll() (gas: 960590)
+DebtManagerTest:testPartialLateFixedToFloatingRoll() (gas: 936927)
+DebtManagerTest:testPermit2AndLeverage() (gas: 781166)
+DebtManagerTest:testPermitAndDeleverage() (gas: 835476)
+DebtManagerTest:testPermitAndRollFloatingToFixed() (gas: 893911)
 InterestRateModelTest:testFixedBorrowRate() (gas: 8089)
 InterestRateModelTest:testFloatingBorrowRate() (gas: 6236)
 InterestRateModelTest:testMinFixedRate() (gas: 7610)

contracts/periphery/DebtManager.sol

@@ -129,7 +129,42 @@ contract DebtManager is Initializable {
           outAsset: v.outAsset,
           principal: deposit ? principal : 0,
           account: msg.sender,
-          fee: fee
+          fee: fee,
+          leverage: true
+        })
+      )
+    );
+  }
+
+  /// @notice Cross-deleverages the floating position of `msg.sender`
+  /// @param inMarket The Market to withdraw the leveraged position.
+  /// @param outMarket The Market to repay the leveraged position.
+  /// @param fee The fee of the pool that will be used to swap the assets.
+  /// @param percentage The percentage that the position will be deleveraged.
+  function crossDeleverage(Market inMarket, Market outMarket, uint24 fee, uint256 percentage) external {
+    LeverageVars memory v;
+    v.inAsset = address(inMarket.asset());
+    v.outAsset = address(outMarket.asset());
+
+    (, , uint256 floatingBorrowShares) = outMarket.accounts(msg.sender);
+    v.amount = outMarket.previewRefund(floatingBorrowShares.mulWadDown(percentage));
+
+    PoolKey memory poolKey = PoolAddress.getPoolKey(v.inAsset, v.outAsset, fee);
+    IUniswapV3Pool(PoolAddress.computeAddress(uniswapV3Factory, poolKey)).swap(
+      address(this),
+      v.inAsset == poolKey.token0,
+      -int256(v.amount),
+      v.inAsset == poolKey.token0 ? MIN_SQRT_RATIO + 1 : MAX_SQRT_RATIO - 1,
+      abi.encode(
+        SwapCallbackData({
+          inMarket: inMarket,
+          outMarket: outMarket,
+          inAsset: v.inAsset,
+          outAsset: v.outAsset,
+          principal: v.amount,
+          account: msg.sender,
+          fee: fee,
+          leverage: false
         })
       )
     );
@@ -406,8 +441,20 @@ contract DebtManager is Initializable {
     PoolKey memory poolKey = PoolAddress.getPoolKey(s.inAsset, s.outAsset, s.fee);
     assert(msg.sender == PoolAddress.computeAddress(uniswapV3Factory, poolKey));
 
-    s.inMarket.deposit(s.principal + uint256(-(s.inAsset == poolKey.token0 ? amount0Delta : amount1Delta)), s.account);
-    s.outMarket.borrow(uint256(s.inAsset == poolKey.token1 ? amount0Delta : amount1Delta), msg.sender, s.account);
+    if (s.leverage) {
+      s.inMarket.deposit(
+        s.principal + uint256(-(s.inAsset == poolKey.token0 ? amount0Delta : amount1Delta)),
+        s.account
+      );
+      s.outMarket.borrow(uint256(s.inAsset == poolKey.token1 ? amount0Delta : amount1Delta), msg.sender, s.account);
+    } else {
+      s.outMarket.repay(s.principal, s.account);
+      s.inMarket.withdraw(
+        s.inAsset == poolKey.token1 ? uint256(amount1Delta) : uint256(amount0Delta),
+        msg.sender,
+        s.account
+      );
+    }
   }
 
   /// @notice Calls `token.permit` on behalf of `permit.account`.
@@ -574,6 +621,7 @@ contract DebtManager is Initializable {
     address account;
     uint256 principal;
     uint24 fee;
+    bool leverage;
   }
 }
 

test/solidity/DebtManager.t.sol

@@ -752,6 +752,51 @@ contract DebtManagerTest is Test {
     debtManager.crossLeverage(marketUSDC, marketWETH, 200, 100_000e6, 1.1e18, true);
   }
 
+  function testCrossDeleverageFromwstETHToWETH() external _checkBalances {
+    marketwstETH.asset().approve(address(debtManager), type(uint256).max);
+    debtManager.auditor().enterMarket(marketwstETH);
+    debtManager.crossLeverage(marketwstETH, marketWETH, 500, 10e18, 1.02e18, true);
+    (, , uint256 floatingBorrowShares) = marketWETH.accounts(address(this));
+    uint256 percentage = 1e18;
+    debtManager.crossDeleverage(marketwstETH, marketWETH, 500, percentage);
+
+    assertEq(marketwstETH.maxWithdraw(address(this)), 9_980_645_608_672_055_653);
+    (, , uint256 newFloatingBorrowShares) = marketWETH.accounts(address(this));
+    assertEq(newFloatingBorrowShares, floatingBorrowShares - floatingBorrowShares.mulWadDown(percentage));
+  }
+
+  function testCrossDeleverageFromWETHToUSDC() external _checkBalances {
+    marketWETH.asset().approve(address(debtManager), type(uint256).max);
+    debtManager.auditor().enterMarket(marketWETH);
+    debtManager.crossLeverage(marketWETH, marketUSDC, 500, 10e18, 1.02e18, true);
+    (, , uint256 floatingBorrowShares) = marketUSDC.accounts(address(this));
+    uint256 percentage = 1e18;
+    debtManager.crossDeleverage(marketWETH, marketUSDC, 500, percentage);
+
+    uint256 maxWithdraw = marketWETH.maxWithdraw(address(this));
+    assertEq(maxWithdraw, 9_970_057_426_084_898_139);
+    (, , uint256 newFloatingBorrowShares) = marketUSDC.accounts(address(this));
+    assertEq(newFloatingBorrowShares, floatingBorrowShares - floatingBorrowShares.mulWadDown(percentage));
+  }
+
+  function testCrossDeleverageWithInvalidFee() external _checkBalances {
+    marketwstETH.asset().approve(address(debtManager), type(uint256).max);
+    debtManager.auditor().enterMarket(marketwstETH);
+    debtManager.crossLeverage(marketwstETH, marketWETH, 500, 10_000e6, 1.02e18, true);
+
+    vm.expectRevert(bytes(""));
+    debtManager.crossDeleverage(marketwstETH, marketWETH, 200, 1e18);
+  }
+
+  function testCrossDeleverageWithInvalidPercentage() external _checkBalances {
+    marketwstETH.asset().approve(address(debtManager), type(uint256).max);
+    debtManager.auditor().enterMarket(marketwstETH);
+    debtManager.crossLeverage(marketwstETH, marketWETH, 500, 10e18, 1.02e18, true);
+    uint256 percentage = 2e18;
+    vm.expectRevert(abi.encodeWithSelector(InsufficientAccountLiquidity.selector));
+    debtManager.crossDeleverage(marketwstETH, marketWETH, 500, percentage);
+  }
+
   function testPermitAndRollFloatingToFixed() external {
     marketUSDC.deposit(100_000e6, bob);
     vm.prank(bob);