Merge pull request #9 from SetProtocol/sachin/perp-manager-fixes

Perp Manager post testing fixes

Author: bweick

contracts/extensions/PerpV2LeverageStrategyExtension.sol

@@ -136,7 +136,7 @@ contract PerpV2LeverageStrategyExtension is BaseExtension {
     );
     event RebalanceIterated(
         int256 _currentLeverageRatio,
-        int256 _newLeverageRatio,
+        int256 _newTwapLeverageRatio,
         int256 _chunkRebalanceNotional,
         int256 _totalRebalanceNotional
     );
@@ -233,7 +233,9 @@ contract PerpV2LeverageStrategyExtension is BaseExtension {
     function engage() external onlyOperator {
         ActionInfo memory engageInfo = _createActionInfo();
 
-        require(engageInfo.baseBalance == 0, "Must not have existing base token position");
+        // Assert currentLeverageRatio is 0. Since currentLeverageRatio = baseBalance * basePrice / accountValue,
+        // asserting baseBalance is 0 is equivalent to asserting currentLeverageRatio is 0.
+        require(engageInfo.baseBalance == 0, "Current leverage ratio must be 0");
         require(engageInfo.accountInfo.collateralBalance > 0, "Collateral balance must be > 0");
 
         LeverageInfo memory leverageInfo = LeverageInfo({
@@ -707,15 +709,14 @@ contract PerpV2LeverageStrategyExtension is BaseExtension {
         ActionInfo memory actionInfo = _createActionInfo();
 
         require(actionInfo.setTotalSupply > 0, "SetToken must have > 0 supply");
-
-        // This function is called during rebalance, iterateRebalance, ripcord and disengage.
-        // |baseBalance| > 0, shows the position exists, and the Set has been engaged. We should not
-        // check for |quoteBalance| > 0, as it is redundant.
-        require(actionInfo.baseBalance.absUint256() > 0, "Base asset balance must be > 0");
 
         // Get current leverage ratio
         int256 currentLeverageRatio = _calculateCurrentLeverageRatio(actionInfo);
 
+        // This function is called during rebalance, iterateRebalance, ripcord and disengage.
+        // Assert currentLeverageRatio is 0 as the set should be engaged before this function is called.
+        require(currentLeverageRatio.absUint256() > 0, "Current leverage ratio must NOT be 0");
+
         return LeverageInfo({
             action: actionInfo,
             currentLeverageRatio: currentLeverageRatio,
@@ -973,6 +974,7 @@ contract PerpV2LeverageStrategyExtension is BaseExtension {
      * Calculate total notional rebalance quantity and chunked rebalance quantity in base asset units for engaging the SetToken. Used in engage().
      * Leverage ratio (for the base asset) is zero before engage. We open a new base asset position with size equals to (collateralBalance * targetLeverageRatio / baseAssetPrice)
      * to gain (targetLeverageRatio * collateralBalance) worth of exposure to the base asset.
+     * Note: We can't use `_calculateChunkRebalanceNotional` function because CLR is 0 during engage and it would lead to a divison by zero error.
      *
      * return int256          Chunked rebalance notional in base asset units
      * return int256          Total rebalance notional in base asset units

test/extensions/perpV2LeverageStrategyExtension.spec.ts

@@ -658,7 +658,7 @@ describe("PerpV2LeverageStrategyExtension", () => {
             });
 
             it("should revert", async () => {
-              await expect(subject()).to.be.revertedWith("Must not have existing base token position");
+              await expect(subject()).to.be.revertedWith("Current leverage ratio must be 0");
             });
           });
 
@@ -1737,7 +1737,7 @@ describe("PerpV2LeverageStrategyExtension", () => {
 
       describe("when not engaged", async () => {
         it("should revert", async () => {
-          await expect(subject()).to.be.revertedWith("Base asset balance must be > 0");
+          await expect(subject()).to.be.revertedWith("Current leverage ratio must NOT be 0");
         });
       });
     });
@@ -2547,7 +2547,7 @@ describe("PerpV2LeverageStrategyExtension", () => {
 
       describe("when not engaged", async () => {
         it("should revert", async () => {
-          await expect(subject()).to.be.revertedWith("Base asset balance must be > 0");
+          await expect(subject()).to.be.revertedWith("Current leverage ratio must NOT be 0");
         });
       });
     });
@@ -3064,7 +3064,7 @@ describe("PerpV2LeverageStrategyExtension", () => {
 
       describe("when not engaged", async () => {
         it("should revert", async () => {
-          await expect(subject()).to.be.revertedWith("Base asset balance must be > 0");
+          await expect(subject()).to.be.revertedWith("Current leverage ratio must NOT be 0");
         });
       });
     });
@@ -3145,7 +3145,7 @@ describe("PerpV2LeverageStrategyExtension", () => {
             });
 
             it("should revert", async () => {
-              await expect(subject()).to.be.revertedWith("Base asset balance must be > 0");
+              await expect(subject()).to.be.revertedWith("Current leverage ratio must NOT be 0");
             });
           });
         });
@@ -3228,7 +3228,7 @@ describe("PerpV2LeverageStrategyExtension", () => {
             });
 
             it("should revert", async () => {
-              await expect(subject()).to.be.revertedWith("Base asset balance must be > 0");
+              await expect(subject()).to.be.revertedWith("Current leverage ratio must NOT be 0");
             });
           });
         });