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0.3% of numeraire will be lost if protocol does not reach minimum minimumProceeds #311

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clemlak opened this issue Jan 31, 2025 · 2 comments
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🐛 bug Something isn't working v4 v4 Specific

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@clemlak
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clemlak commented Jan 31, 2025

See https://cantina.xyz/code/57b00aab-8f8b-4d62-9378-41b6460ce6aa/findings/3

@clemlak clemlak added the 🐛 bug Something isn't working label Jan 31, 2025
@aadams aadams added the v4 v4 Specific label Feb 4, 2025
@saucepoint
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actively investigating the best solution here. so far the two options are:

  1. add back fees to numeraire when calculating the average clearing price
    • Can be a clean solution, but is just more accounting that we might mess up
  2. Allow airlock owner (protocol multi sig?) to be able to pull dust from doppler if the doppler hook is in "redemption phase"
    • a nice fail safe, but introduces more code logic to airlock / doppler

@saucepoint
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hmm so after trying option (1), we need to refactor the redemption slug calculation -- currently its

In our tests, a nontrivial amount of numeraire remains in the slug despite fulling "redeeming" the assets. This is because the redemption slug is a fully single sided position (1 full tick away from the calculated "redemptionPriceX96")

options here are:

  • rework redemption slug calculation -- dual sided liquidity is actually fine since we have outstanding assets
  • allow the airlock owner to close the redemption slug after the asset supply has been fully redeemed

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Labels
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