import { id } from 'ethers/lib/utils'
// @ts-ignore
import helper from 'ganache-time-traveler'
// @ts-ignore
import { BN, expectRevert } from '@openzeppelin/test-helpers'
import {
rate1,
daiDebt1,
WETH,
daiTokens1,
wethTokens1,
chaiTokens1,
spot,
toRay,
mulRay,
divRay,
bnify,
almostEqual,
precision,
ZERO,
} from './shared/utils'
import { YieldEnvironment, Contract } from './shared/fixtures'
import { assert, expect } from 'chai'
contract('Unwind - Treasury', async (accounts) => {
let [owner, user] = accounts
let snapshot: any
let snapshotId: string
let env: YieldEnvironment
let dai: Contract
let vat: Contract
let controller: Contract
let treasury: Contract
let weth: Contract
let liquidations: Contract
let unwind: Contract
let end: Contract
let chai: Contract
let maturity1: number
let maturity2: number
const tag = divRay(toRay(0.9), spot)
const treasuryDebt = mulRay(wethTokens1, spot).sub(1000) // No need to max out the debt of the Treasury to the last wei
const taggedWeth = mulRay(treasuryDebt, tag)
const fix = divRay(toRay(1.1), spot)
const fixedWeth = mulRay(treasuryDebt, fix)
beforeEach(async () => {
snapshot = await helper.takeSnapshot()
snapshotId = snapshot['result']
env = await YieldEnvironment.setup([])
controller = env.controller
treasury = env.treasury
liquidations = env.liquidations
unwind = env.unwind
vat = env.maker.vat
dai = env.maker.dai
weth = env.maker.weth
end = env.maker.end
chai = env.maker.chai
// Allow owner to interact directly with Treasury, not for production
const treasuryFunctions = ['pushDai', 'pullDai', 'pushChai', 'pullChai', 'pushWeth', 'pullWeth'].map((func) =>
id(func + '(address,uint256)')
)
await treasury.batchOrchestrate(owner, treasuryFunctions)
await end.rely(owner, { from: owner }) // `owner` replaces MKR governance
})
afterEach(async () => {
await helper.revertToSnapshot(snapshotId)
})
describe('with posted weth', () => {
beforeEach(async () => {
await weth.deposit({ from: owner, value: wethTokens1 })
await weth.approve(treasury.address, wethTokens1, { from: owner })
await treasury.pushWeth(owner, wethTokens1, { from: owner })
assert.equal(
(await vat.urns(WETH, treasury.address)).ink,
wethTokens1,
'Treasury should have ' + wethTokens1 + ' weth wei as collateral'
)
})
it('does not allow to unwind if MakerDAO is live', async () => {
await expectRevert(unwind.unwind({ from: owner }), 'Unwind: MakerDAO not shutting down')
})
describe('with Dss unwind initiated and tag defined', () => {
beforeEach(async () => {
await end.cage({ from: owner })
await end.setTag(WETH, tag, { from: owner })
})
it('allows to unwind', async () => {
await unwind.unwind({ from: owner })
assert.equal(await unwind.live(), false, 'Unwind should be activated')
assert.equal(await treasury.live(), false, 'Treasury should not be live')
assert.equal(await controller.live(), false, 'Controller should not be live')
assert.equal(await liquidations.live(), false, 'Liquidations should not be live')
})
describe('with fyDai in unwind', () => {
beforeEach(async () => {
await unwind.unwind({ from: owner })
})
it('allows to free system collateral without debt', async () => {
await unwind.settleTreasury({ from: owner })
assert.equal(
await weth.balanceOf(unwind.address, { from: owner }),
wethTokens1,
'Treasury should have ' +
wethTokens1 +
' weth in hand, instead has ' +
(await weth.balanceOf(unwind.address, { from: owner }))
)
})
it('does not allow to push or pull assets', async () => {
await expectRevert(
treasury.pushWeth(user, wethTokens1, { from: owner }),
'Treasury: Not available during unwind'
)
await expectRevert(
treasury.pushChai(user, chaiTokens1, { from: owner }),
'Treasury: Not available during unwind'
)
await expectRevert(
treasury.pushDai(user, daiTokens1, { from: owner }),
'Treasury: Not available during unwind'
)
await expectRevert(treasury.pullWeth(owner, 1, { from: owner }), 'Treasury: Not available during unwind')
await expectRevert(treasury.pullChai(owner, 1, { from: owner }), 'Treasury: Not available during unwind')
await expectRevert(treasury.pullDai(owner, 1, { from: owner }), 'Treasury: Not available during unwind')
})
})
})
describe('with debt', () => {
beforeEach(async () => {
await treasury.pullDai(owner, treasuryDebt, { from: owner })
expect((await vat.urns(WETH, treasury.address)).art).to.be.bignumber.gt(ZERO)
expect(await treasury.debt()).to.be.bignumber.gt(ZERO)
// Adding some extra unlocked collateral
await weth.deposit({ from: owner, value: 1 })
await weth.approve(treasury.address, 1, { from: owner })
await treasury.pushWeth(owner, 1, { from: owner })
})
describe('with unwind initiated', () => {
beforeEach(async () => {
await end.cage({ from: owner })
await end.setTag(WETH, tag, { from: owner })
await unwind.unwind({ from: owner })
})
it('allows to settle treasury debt', async () => {
await unwind.settleTreasury({ from: owner })
almostEqual(
await weth.balanceOf(unwind.address, { from: owner }),
bnify(wethTokens1).sub(taggedWeth).toString(),
precision
)
})
})
})
describe('with savings', () => {
beforeEach(async () => {
await env.maker.getDai(owner, daiTokens1, rate1)
await dai.approve(treasury.address, daiTokens1, { from: owner })
await treasury.pushDai(owner, daiTokens1, { from: owner })
assert.equal(
await chai.balanceOf(treasury.address),
chaiTokens1,
'Treasury should have ' + daiTokens1 + ' savings (as chai).'
)
})
describe('with Dss unwind initiated and fix defined', () => {
beforeEach(async () => {
await env.maker.getDai(user, bnify(daiTokens1).mul(2), rate1)
await end.cage({ from: owner })
await end.setTag(WETH, tag, { from: owner })
await end.setDebt(1, { from: owner })
await end.setFix(WETH, fix, { from: owner })
// Settle some random guy's debt for end.sol to have weth
await end.skim(WETH, user, { from: user })
await unwind.unwind({ from: owner })
})
it('allows to cash dai for weth', async () => {
assert.equal(await vat.gem(WETH, unwind.address), 0, 'Unwind should have no weth in WethJoin')
await unwind.cashSavings({ from: owner })
// Fun fact, MakerDAO rounds in your favour when determining how much collateral to take to settle your debt.
assert.equal(await chai.balanceOf(treasury.address), 0, 'Treasury should have no savings (as chai).')
almostEqual(
await weth.balanceOf(unwind.address, { from: owner }),
fixedWeth.toString(),
precision // We are off by more than the usual precision here, not a big deal
)
})
})
})
})
})
