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Rollback deposit slippage #181

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Merged
carlosgj94 merged 2 commits into from
Dec 11, 2025
Merged

Rollback deposit slippage #181

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3a0aaa0
feat: remove vault allocation/deallocation slippage checks
ashhanai Dec 10, 2025
2764e58
fix: test
ashhanai Dec 10, 2025
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38 changes: 2 additions & 36 deletions src/vault/SingleStrategyVault.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -2,7 +2,6 @@
pragma solidity 0.8.29;

import { IERC4626 } from "@openzeppelin/contracts/interfaces/IERC4626.sol";
import { Math } from "@openzeppelin/contracts/utils/math/Math.sol";

import { ControlledERC7575Vault, SafeERC20, IERC20, IController } from "./ControlledERC7575Vault.sol";

Expand All @@ -14,17 +13,6 @@ import { ControlledERC7575Vault, SafeERC20, IERC20, IController } from "./Contro
* and deallocates assets when withdrawals require more than the available unallocated balance
*/
contract SingleStrategyVault is ControlledERC7575Vault {
using Math for uint256;

/**
* @notice The maximum allowed slippage during allocation/deallocation operations
*/
uint256 public constant MAX_ALLOCATION_SLIPPAGE = 1; // 0.00001%
/**
* @notice The number of decimals used for slippage calculations
*/
uint256 public constant ALLOCATION_SLIPPAGE_DECIMALS = 7;

/**
* @notice The ERC4626 vault used for yield generation
*/
Expand Down Expand Up @@ -64,10 +52,6 @@ contract SingleStrategyVault is ControlledERC7575Vault {
* @notice Thrown when caller is not the authorized manager
*/
error CallerNotManager();
/**
* @notice Thrown when slippage exceeds the maximum allowed during allocation/deallocation
*/
error ExceedsMaxSlippage();

/**
* @notice Constructs a new SingleStrategyVault
Expand Down Expand Up @@ -153,44 +137,26 @@ contract SingleStrategyVault is ControlledERC7575Vault {

/**
* @notice Internal function to allocate assets to the strategy
* @dev Deposits assets into the strategy and emits an Allocate event.
* Reverts if allocation slippage exceeds the maximum allowed.
* @dev Deposits assets into the strategy and emits an Allocate event
* @param assets The amount of assets to deposit into the strategy
* @return shares The number of strategy shares received
*/
function _allocate(uint256 assets) private returns (uint256 shares) {
uint256 originalTotalAssets = totalAssets();
shares = _strategy.deposit(assets, address(this));
require(totalAssets() >= _slippageMinAssets(originalTotalAssets), ExceedsMaxSlippage());
emit Allocate(address(_strategy), assets);
}

/**
* @notice Internal function to deallocate assets from the strategy
* @dev Withdraws assets from the strategy to this vault and emits a Deallocate event.
* Reverts if deallocation slippage exceeds the maximum allowed.
* @dev Withdraws assets from the strategy to this vault and emits a Deallocate event
* @param assets The amount of assets to withdraw from the strategy
* @return shares The number of strategy shares burned
*/
function _deallocate(uint256 assets) private returns (uint256 shares) {
uint256 originalTotalAssets = totalAssets();
shares = _strategy.withdraw(assets, address(this), address(this));
require(totalAssets() >= _slippageMinAssets(originalTotalAssets), ExceedsMaxSlippage());
emit Deallocate(address(_strategy), assets);
}

/**
* @notice Calculates the minimum acceptable assets after accounting for maximum slippage
* @dev Used to ensure that allocation/deallocation does not exceed the allowed slippage
* @param assets The original amount of assets before allocation/deallocation
* @return The minimum acceptable amount of assets after slippage
*/
function _slippageMinAssets(uint256 assets) private pure returns (uint256) {
return assets.mulDiv(
10 ** ALLOCATION_SLIPPAGE_DECIMALS - MAX_ALLOCATION_SLIPPAGE, 10 ** ALLOCATION_SLIPPAGE_DECIMALS
);
}

/**
* @notice Calculates assets owned by the vault but not held directly in the vault
* @dev Override from ControlledERC7575Vault. Returns only assets allocated to strategies,
Expand Down
42 changes: 0 additions & 42 deletions tests/fork/SingleStrategyVault.fork.t.sol
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Expand Up @@ -95,46 +95,4 @@ contract SingleStrategyVault_Strategy_ForkTest is SingleStrategyVaultForkTest {
assertEq(USDC.balanceOf(address(vault)), 0);
assertApproxEqAbs(vault.totalAssets(), unallocatedDeposit, maxErrorDelta); // strategy rounds down
}

function test_shouldRevert_whenAllocateWithSlippage() public {
uint256 depositAssets = 200e6; // 200 USDC

vm.prank(users[0]);
USDC.approve(address(vault), depositAssets);

bytes[] memory shareBalances = new bytes[](2);
shareBalances[0] = abi.encode(0);
shareBalances[1] = abi.encode(USDC_STRATEGY.convertToShares(depositAssets - 1e6)); // simulate 1 USDC slippage
vm.mockCalls(
address(USDC_STRATEGY), abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), shareBalances
);

vm.expectRevert(Vault.ExceedsMaxSlippage.selector);
vm.prank(users[0]);
vault.deposit(depositAssets, users[0]);
}

function test_shouldRevert_whenDeallocateWithSlippage() public {
uint256 assets = 500e6; // 500 USDC

vm.startPrank(users[0]);
USDC.approve(address(vault), assets);
vault.deposit(assets, address(this));
vm.stopPrank();

assertEq(USDC.balanceOf(address(vault)), 0);
assertApproxEqAbs(vault.totalAssets(), assets, maxErrorDelta); // strategy rounds down

uint256 withdrawAssets = 300e6; // 300 USDC

bytes[] memory assetBalances = new bytes[](3);
assetBalances[0] = abi.encode(0);
assetBalances[1] = abi.encode(0);
assetBalances[2] = abi.encode(withdrawAssets - 1e6); // simulate 1 USDC slippage
vm.mockCalls(address(USDC), abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), assetBalances);

vm.expectRevert(Vault.ExceedsMaxSlippage.selector);
vm.prank(users[0]);
vault.withdraw(withdrawAssets, users[0], users[0]);
}
}
79 changes: 1 addition & 78 deletions tests/unit/vault/SingleStrategyVault.t.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -66,19 +66,6 @@ contract SingleStrategyVault_Allocate_Test is SingleStrategyVaultTest {
function setUp() public override {
super.setUp();

bytes[] memory assetBalances = new bytes[](2);
assetBalances[0] = abi.encode(assets);
assetBalances[1] = abi.encode(0);
vm.mockCalls(asset, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), assetBalances);

bytes[] memory shareBalances = new bytes[](2);
shareBalances[0] = abi.encode(0);
shareBalances[1] = abi.encode(shares);
vm.mockCalls(strategy, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), shareBalances);

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, 0), abi.encode(0));
vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, shares), abi.encode(assets));

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.deposit.selector), abi.encode(shares));
}

Expand All @@ -95,16 +82,6 @@ contract SingleStrategyVault_Allocate_Test is SingleStrategyVaultTest {
vault.allocate(assets);
}

function testFuzz_shouldRevert_whenSlippageTooHigh(uint256 _assets) public {
_assets = bound(_assets, 0, assets * (1e7 - 1) / 1e7 - 1);

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, shares), abi.encode(_assets));

vm.prank(manager);
vm.expectRevert(Vault.ExceedsMaxSlippage.selector);
vault.allocate(assets);
}

function test_shouldEmit_Allocate() public {
vm.expectEmit();
emit Vault.Allocate(strategy, assets);
Expand All @@ -123,19 +100,6 @@ contract SingleStrategyVault_Deallocate_Test is SingleStrategyVaultTest {
function setUp() public override {
super.setUp();

bytes[] memory assetBalances = new bytes[](2);
assetBalances[0] = abi.encode(0);
assetBalances[1] = abi.encode(assets);
vm.mockCalls(asset, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), assetBalances);

bytes[] memory shareBalances = new bytes[](2);
shareBalances[0] = abi.encode(shares);
shareBalances[1] = abi.encode(0);
vm.mockCalls(strategy, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), shareBalances);

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, 0), abi.encode(0));
vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, shares), abi.encode(assets));

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.withdraw.selector), abi.encode(shares));
}

Expand All @@ -152,19 +116,6 @@ contract SingleStrategyVault_Deallocate_Test is SingleStrategyVaultTest {
vault.deallocate(assets);
}

function testFuzz_shouldRevert_whenSlippageTooHigh(uint256 _assets) public {
_assets = bound(_assets, 0, assets * (1e7 - 1) / 1e7 - 1);

bytes[] memory assetBalances = new bytes[](2);
assetBalances[0] = abi.encode(0);
assetBalances[1] = abi.encode(_assets);
vm.mockCalls(asset, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), assetBalances);

vm.prank(manager);
vm.expectRevert(Vault.ExceedsMaxSlippage.selector);
vault.deallocate(assets);
}

function test_shouldEmit_Deallocate() public {
vm.expectEmit();
emit Vault.Deallocate(strategy, assets);
Expand Down Expand Up @@ -233,22 +184,9 @@ contract SingleStrategyVault_BeforeWithdraw_Test is SingleStrategyVaultTest {
vm.assume(withdrawAssets > unallocatedAssets);
uint256 deallocateAssets = withdrawAssets - unallocatedAssets;

bytes[] memory assetBalances = new bytes[](3);
assetBalances[0] = abi.encode(unallocatedAssets);
assetBalances[1] = abi.encode(unallocatedAssets);
assetBalances[2] = abi.encode(withdrawAssets);
vm.mockCalls(asset, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), assetBalances);

bytes[] memory shareBalances = new bytes[](2);
shareBalances[0] = abi.encode(shares);
shareBalances[1] = abi.encode(0);
vm.mockCalls(strategy, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), shareBalances);

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, 0), abi.encode(0));
vm.mockCall(
strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, shares), abi.encode(deallocateAssets)
asset, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), abi.encode(unallocatedAssets)
);

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.withdraw.selector), abi.encode(shares));

vm.expectCall(
Expand Down Expand Up @@ -291,21 +229,6 @@ contract SingleStrategyVault_AfterDeposit_Test is SingleStrategyVaultTest {
function testFuzz_shouldAllocateToStrategy_whenAboveThreshold(uint256 depositAssets) public {
vm.assume(depositAssets >= threshold);

bytes[] memory assetBalances = new bytes[](2);
assetBalances[0] = abi.encode(depositAssets);
assetBalances[1] = abi.encode(0);
vm.mockCalls(asset, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), assetBalances);

bytes[] memory shareBalances = new bytes[](2);
shareBalances[0] = abi.encode(0);
shareBalances[1] = abi.encode(shares);
vm.mockCalls(strategy, abi.encodeWithSelector(IERC20.balanceOf.selector, address(vault)), shareBalances);

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, 0), abi.encode(0));
vm.mockCall(
strategy, abi.encodeWithSelector(IERC4626.convertToAssets.selector, shares), abi.encode(depositAssets)
);

vm.mockCall(strategy, abi.encodeWithSelector(IERC4626.deposit.selector), abi.encode(shares));

vm.expectCall(strategy, abi.encodeWithSelector(IERC4626.deposit.selector, depositAssets, address(vault)));
Expand Down