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Return the liquidity delta from allocate to help with off-chain processing #103

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Merged
merged 2 commits into from
May 30, 2025
Merged

Return the liquidity delta from allocate to help with off-chain processing #103

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70d3df0
Return the liquidity delta from allocate to help with off-chain proce…
naddison36 May 30, 2025
e12954a
Merge remote-tracking branch 'origin/nicka/liquidity-strategies' into…
naddison36 May 30, 2025
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14 changes: 8 additions & 6 deletions src/contracts/AbstractARM.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -870,21 +870,23 @@ abstract contract AbstractARM is OwnableOperable, ERC20Upgradeable {
/// @notice Deposit or withdraw liquidity assets to/from the active lending market
/// to match the ARM's liquidity buffer which is a percentage of the available assets.
/// Will revert if there is no active lending market set.
function allocate() external {
/// @return liquidityDelta The actual liquidity less target liquidity before
/// the deposit/withdrawal to/from the active lending market.
function allocate() external returns (int256 liquidityDelta) {
require(activeMarket != address(0), "ARM: no active market");

_allocate();
liquidityDelta = _allocate();
}

function _allocate() internal {
function _allocate() internal returns (int256 liquidityDelta) {
(uint256 availableAssets, uint256 outstandingWithdrawals) = _availableAssets();
if (availableAssets == 0) return;
if (availableAssets == 0) return 0;

int256 armLiquidity = SafeCast.toInt256(IERC20(liquidityAsset).balanceOf(address(this)))
- SafeCast.toInt256(outstandingWithdrawals);
uint256 targetArmLiquidity = availableAssets * armBuffer / 1e18;

int256 liquidityDelta = armLiquidity - SafeCast.toInt256(targetArmLiquidity);
liquidityDelta = armLiquidity - SafeCast.toInt256(targetArmLiquidity);

// Load the active lending market address from storage to save gas
address activeMarketMem = activeMarket;
Expand All @@ -909,7 +911,7 @@ abstract contract AbstractARM is OwnableOperable, ERC20Upgradeable {
// redeem of the ARM's balance can fail if the lending market is highly utilized or temporarily paused.
// Redeem and not withdrawal is used to avoid leaving a small amount of assets in the market.
uint256 shares = IERC4626(activeMarketMem).maxRedeem(address(this));
if (shares <= minSharesToRedeem) return;
if (shares <= minSharesToRedeem) return liquidityDelta;
// This should not fail according to the ERC-4626 spec as maxRedeem was used earlier
// but it depends on the 4626 implementation of the lending market.
// It may fail if the market is highly utilized and not compliant with 4626.
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