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improves code readability

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Vito
2026-03-10 18:02:35 +01:00
parent bd297f434b
commit e67d78b2b9
1 changed files with 59 additions and 46 deletions
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105
src/test/basics/VaultSharePricing_test.cpp
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@@ -289,7 +289,7 @@ struct ExpectedState
Number assetsTotal;
Number assetsAvailable;
Number sharesTotal;
Number interestOutstanding = 0;
Number unrealizedInterest = 0;
Number lossUnrealized = 0;
};
@@ -303,7 +303,7 @@ class VaultSharePricing_test : public beast::unit_test::suite
BEAST_EXPECT(vault.assetsTotal() == e.assetsTotal);
BEAST_EXPECT(vault.assetsAvailable() == e.assetsAvailable);
BEAST_EXPECT(vault.sharesTotal() == e.sharesTotal);
BEAST_EXPECT(vault.interestUnrealized() == e.interestOutstanding);
BEAST_EXPECT(vault.interestUnrealized() == e.unrealizedInterest);
BEAST_EXPECT(vault.lossUnrealized() == e.lossUnrealized);
}
@@ -548,12 +548,13 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
Number const expectedShares = vault.depositShares(Number(depositAmt2));
Number const expectedAssets = vault.depositAssets(expectedShares);
// depositNAV = 950 + 50 - 50 = 950; shares = floor(95 * 950 / 950) = 95; assets = 95
// depositNAV = 1000 (assetsTotal) - 50 (unrealizedInterest) = 950; shares = floor(95 * 950
// / 950) = 95; assets = 95
BEAST_EXPECT(expectedShares == 95);
BEAST_EXPECT(expectedAssets == 95);
@@ -568,7 +569,7 @@ public:
.assetsTotal = depositAmt + interest + expectedAssets,
.assetsAvailable = depositAmt - principal + expectedAssets,
.sharesTotal = depositAmt + expectedShares,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
}
@@ -604,7 +605,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
vault.addPaperLoss(paperLoss);
@@ -614,12 +615,13 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
Number const expectedAssets = vault.redeemAssets(redeemShares);
// withdrawalNAV = 1000 + 50 - 50 - 100 = 900; assetsOut = 100 * 900 / 1000 = 90
// withdrawalNAV = 1050 (assetsTotal) - 50 (unrealizedInterest) - 100 (unrealizedLoss) =
// 900; assetsOut = 100 * 900 / 1000 = 90
BEAST_EXPECT(expectedAssets == 90);
auto const assetsOut = vault.redeem(STAmount{vault.shareAsset(), redeemShares}).value();
@@ -630,7 +632,7 @@ public:
.assetsTotal = depositAmt + interest - assetsOut,
.assetsAvailable = depositAmt - principal - assetsOut,
.sharesTotal = depositAmt - redeemShares,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
}
@@ -668,7 +670,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
vault.addPaperLoss(paperLoss);
@@ -678,7 +680,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
@@ -696,14 +698,15 @@ public:
.assetsTotal = depositAmt + interest + depositAmt2,
.assetsAvailable = depositAmt - principal + depositAmt2,
.sharesTotal = depositAmt + depositAmt2,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
// Redeem at withdrawalNAV (subtracts both interest and loss)
{
Number const expectedAssets = vault.redeemAssets(redeemShares);
// withdrawalNAV = 1001 - 50 - 100 = 851; sharesTotal = 951; assetsOut = 851/951
// withdrawalNAV = 1001 (assetsTotal) - 50 (unrealizedInterest) - 100 (unrealizedLoss) =
// 851; sharesTotal = 951; assetsOut = 851/951
BEAST_EXPECT(expectedAssets == Number{851} / Number{951});
// Compare as STAmount: redeem() returns STAmount which truncates
// to 16 significant digits, so comparing directly to the
@@ -721,7 +724,7 @@ public:
.assetsAvailable =
STAmount(usd_, depositAmt - principal + depositAmt2 - expectedAssets),
.sharesTotal = depositAmt + depositAmt2 - redeemShares,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
}
@@ -808,7 +811,8 @@ public:
Number const expectedShares = vault.withdrawShares(Number(withdrawRequested));
Number const expectedAssetsOut = vault.withdrawAssets(expectedShares);
// withdrawalNAV = 10 - 3 = 7; shares = floor(1 * 10 / 7) = 1; assetsOut = 7/10 = 0.7
// withdrawalNAV = 10 (assetsTotal) - 3 (unrealizedLoss) = 7; shares = floor(1 * 10 / 7)
// = 1; assetsOut = 7/10 = 0.7
BEAST_EXPECT(expectedShares == 1);
BEAST_EXPECT(expectedAssetsOut == Number(7, -1));
@@ -971,7 +975,8 @@ public:
// Loss reduces withdrawalNAV but not depositNAV
Number const expectedAssets = vault.redeemAssets(redeemShares);
// withdrawalNAV = 1100 - 200 = 900; sharesTotal = 1100; assetsOut = 100 * 900/1100 = 900/11
// withdrawalNAV = 1100 (assetsTotal) - 200 (unrealizedLoss) = 900; sharesTotal = 1100;
// assetsOut = 100 * 900/1100 = 900/11
BEAST_EXPECT(expectedAssets == Number{900} / Number{11});
// Compare as STAmount: redeem() returns STAmount which truncates
// to 16 significant digits, so comparing directly to the
@@ -1034,7 +1039,8 @@ public:
// User B deposits 100: shares = floor(deposit * sharesTotal / depositNAV)
Number const expectedSharesB = vault.depositShares(Number(depositA));
Number const expectedAssetsB = vault.depositAssets(expectedSharesB);
// depositNAV = 110; shares = floor(100 * 100 / 110) = 90; assets = 90 * 110 / 100 = 99
// depositNAV = 110 (assetsTotal); shares = floor(100 * 100 / 110) = 90; assets = 90 * 110 /
// 100 = 99
BEAST_EXPECT(expectedSharesB == 90);
BEAST_EXPECT(expectedAssetsB == 99);
auto const [sharesB, assetsB] = vault.deposit(STAmount{usd_, depositA}).value();
@@ -1477,7 +1483,7 @@ public:
.assetsTotal = seedAmt + interest,
.assetsAvailable = seedAmt - principal,
.sharesTotal = seedAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
auto const [actualShares, actualAssets] =
@@ -1490,7 +1496,7 @@ public:
.assetsTotal = seedAmt + interest + tinyDeposit,
.assetsAvailable = seedAmt - principal + tinyDeposit,
.sharesTotal = seedAmt + tinyDeposit,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
// Loan repaid: interestUnrealized -> 0, assetsAvailable fully restored
@@ -1561,7 +1567,8 @@ public:
});
Number const expectedOut = vault.redeemAssets(redeemShares);
// withdrawalNAV = 1e12 - 2e11 = 8e11; assetsOut = 1 * 8e11 / 1e12 = 0.8
// withdrawalNAV = 1e12 (assetsTotal) - 2e11 (unrealizedLoss) = 8e11; assetsOut = 1 * 8e11 /
// 1e12 = 0.8
BEAST_EXPECT(expectedOut == Number(8, -1));
STAmount const expectedAmt(usd_, expectedOut);
auto const out = vault.redeem(STAmount{vault.shareAsset(), redeemShares}).value();
@@ -1766,7 +1773,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
// Hard default the full loan (isPaperLoss=false)
@@ -1783,7 +1790,7 @@ public:
});
Number const expectedOut = vault.redeemAssets(redeemShares);
// assetsTotal=600, sharesTotal=1000; assetsOut = 500 * 600 / 1000 = 300
// withdrawalNAV = 600 (assetsTotal); sharesTotal = 1000; assetsOut = 500 * 600 / 1000 = 300
BEAST_EXPECT(expectedOut == 300);
auto const out = vault.redeem(STAmount{vault.shareAsset(), redeemShares}).value();
BEAST_EXPECT(out == expectedOut);
@@ -1826,7 +1833,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
// Pre-announce the full loan as paper loss
@@ -1837,7 +1844,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = principal + interest,
});
@@ -1855,7 +1862,7 @@ public:
});
Number const expectedOut = vault.redeemAssets(redeemShares);
// assetsTotal=600, sharesTotal=1000; assetsOut = 500 * 600 / 1000 = 300
// withdrawalNAV = 600 (assetsTotal); sharesTotal = 1000; assetsOut = 500 * 600 / 1000 = 300
BEAST_EXPECT(expectedOut == 300);
auto const out = vault.redeem(STAmount{vault.shareAsset(), redeemShares}).value();
BEAST_EXPECT(out == expectedOut);
@@ -1933,7 +1940,8 @@ public:
});
Number const expectedOut1 = vault.redeemAssets(redeemShares1);
// lossUnrealized=100; withdrawalNAV = 1000 - 100 = 900; assetsOut = 100 * 900 / 1000 = 90
// withdrawalNAV = 1000 (assetsTotal) - 100 (unrealizedLoss) = 900; assetsOut = 100 * 900 /
// 1000 = 90
BEAST_EXPECT(expectedOut1 == 90);
auto const out = vault.redeem(STAmount{vault.shareAsset(), redeemShares1}).value();
BEAST_EXPECT(out == expectedOut1);
@@ -1972,7 +1980,7 @@ public:
// Redeem 100 shares: assetsOut = 100 * withdrawalNAV / sharesTotal
auto const redeemShares2 = 100;
Number const expectedOut2 = vault.redeemAssets(redeemShares2);
// assetsTotal=910, sharesTotal=900, no loss; assetsOut = 100 * 910 / 900 = 910/9
// withdrawalNAV = 910 (assetsTotal); sharesTotal = 900; assetsOut = 100 * 910 / 900 = 910/9
BEAST_EXPECT(expectedOut2 == Number{910} / Number{9});
STAmount const expectedAmt2(usd_, expectedOut2);
auto const out2 = vault.redeem(STAmount{vault.shareAsset(), redeemShares2}).value();
@@ -2243,7 +2251,7 @@ public:
.assetsTotal = depositAmt + interest1,
.assetsAvailable = depositAmt - principal1,
.sharesTotal = depositAmt,
.interestOutstanding = interest1,
.unrealizedInterest = interest1,
});
// Repay 500 principal + 50 interest: assetsAvailable fully restored
@@ -2338,7 +2346,8 @@ public:
// A redeems 1000 shares: assetsOut = 1000 * withdrawalNAV / sharesTotal
Number const expectedA = vault.redeemAssets(Number(depositAmtA));
// withdrawalNAV = 1500 - 200 = 1300; assetsOut = 1000 * 1300 / 1500 = 2600/3
// withdrawalNAV = 1500 (assetsTotal) - 200 (unrealizedLoss) = 1300; assetsOut = 1000 * 1300
// / 1500 = 2600/3
BEAST_EXPECT(expectedA == Number{2600} / Number{3});
STAmount const expectedAmtA(usd_, expectedA);
auto const outA = vault.redeem(STAmount{vault.shareAsset(), depositAmtA}).value();
@@ -2400,7 +2409,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
vault.addPaperLoss(paperLoss);
@@ -2410,14 +2419,15 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
// New depositor: shares = floor(newDeposit * sharesTotal / depositNAV)
Number const expectedNewShares = vault.depositShares(Number(newDeposit));
Number const expectedNewAssets = vault.depositAssets(expectedNewShares);
// depositNAV = 1100 - 100 = 1000; shares = floor(100 * 1000 / 1000) = 100; assets = 100
// depositNAV = 1100 (assetsTotal) - 100 (unrealizedInterest) = 1000; shares = floor(100 *
// 1000 / 1000) = 100; assets = 100
BEAST_EXPECT(expectedNewShares == 100);
BEAST_EXPECT(expectedNewAssets == 100);
@@ -2430,14 +2440,14 @@ public:
.assetsTotal = depositAmt + interest + expectedNewAssets,
.assetsAvailable = depositAmt - principal + expectedNewAssets,
.sharesTotal = depositAmt + expectedNewShares,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
// Existing holder redeems shares using withdrawalNAV (lower than depositNAV)
Number const expectedRedeemAssets = vault.redeemAssets(Number(redeemShares));
// withdrawalNAV = 1200 - 100 - 150 = 950; sharesTotal = 1100; assetsOut = 100*950/1100 =
// 950/11
// withdrawalNAV = 1200 (assetsTotal) - 100 (unrealizedInterest) - 150 (unrealizedLoss) =
// 950; sharesTotal = 1100; assetsOut = 100*950/1100 = 950/11
BEAST_EXPECT(expectedRedeemAssets == Number{950} / Number{11});
STAmount const expectedRedeemAmt(usd_, expectedRedeemAssets);
auto const redeemOut = vault.redeem(STAmount{vault.shareAsset(), redeemShares}).value();
@@ -2453,7 +2463,7 @@ public:
.assetsTotal = totalNum,
.assetsAvailable = availNum,
.sharesTotal = depositAmt + expectedNewShares - redeemShares,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = paperLoss,
});
@@ -2593,7 +2603,7 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
});
// Step 1: Pre-announce as paper loss (lossUnrealized = principal + interest = 330)
@@ -2604,13 +2614,14 @@ public:
.assetsTotal = depositAmt + interest,
.assetsAvailable = depositAmt - principal,
.sharesTotal = depositAmt,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = principal + interest,
});
// Intermediate redeem to confirm discounted NAV is applied
Number const expectedBefore = vault.redeemAssets(intermediateRedeem);
// withdrawalNAV = 1030 - 30 - 330 = 670; assetsOut = 100 * 670 / 1000 = 67
// withdrawalNAV = 1030 (assetsTotal) - 30 (unrealizedInterest) - 330 (unrealizedLoss) =
// 670; assetsOut = 100 * 670 / 1000 = 67
BEAST_EXPECT(expectedBefore == 67);
auto const outBefore =
vault.redeem(STAmount{vault.shareAsset(), intermediateRedeem}).value();
@@ -2621,7 +2632,7 @@ public:
.assetsTotal = depositAmt + interest - expectedBefore,
.assetsAvailable = depositAmt - principal - expectedBefore,
.sharesTotal = depositAmt - intermediateRedeem,
.interestOutstanding = interest,
.unrealizedInterest = interest,
.lossUnrealized = principal + interest,
});
@@ -2642,7 +2653,7 @@ public:
// Redeem all remaining shares
auto const remainingShares = depositAmt - intermediateRedeem;
Number const expectedAfter = vault.redeemAssets(remainingShares);
// After default: assetsTotal=633, sharesTotal=900; assetsOut = 900 * 633 / 900 = 633
// withdrawalNAV = 633 (assetsTotal); sharesTotal = 900; assetsOut = 900 * 633 / 900 = 633
BEAST_EXPECT(expectedAfter == 633);
auto const outAfter =
vault.redeem(STAmount{vault.shareAsset(), Number(remainingShares)}).value();
@@ -2769,7 +2780,7 @@ public:
.sharesTotal = depositAmt,
});
// lossUnrealized=2: withdrawalNAV = 10 - 0 - 2 = 8
// lossUnrealized=2: withdrawalNAV = 10 (assetsTotal) - 2 (unrealizedLoss) = 8
vault.addPaperLoss(paperLoss);
expectState(
vault,
@@ -2784,7 +2795,8 @@ public:
Number const expectedShares = vault.withdrawShares(Number(withdrawRequested));
// assetsOut = shares * withdrawalNAV / sharesTotal
Number const expectedAssetsOut = vault.withdrawAssets(expectedShares);
// withdrawalNAV = 10 - 2 = 8; shares = floor(3 * 10 / 8) = 3; assetsOut = 3 * 8 / 10 = 2.4
// withdrawalNAV = 10 (assetsTotal) - 2 (unrealizedLoss) = 8; shares = floor(3 * 10 / 8) =
// 3; assetsOut = 3 * 8 / 10 = 2.4
BEAST_EXPECT(expectedShares == 3);
BEAST_EXPECT(expectedAssetsOut == Number(24, -1));
@@ -2841,7 +2853,7 @@ public:
});
vault.repay(1, 0, extraInterest);
// assetsTotal=10, sharesTotal=7, depositNAV=10
// depositNAV = 10 (assetsTotal); sharesTotal = 7
expectState(
vault,
{
@@ -2854,7 +2866,8 @@ public:
Number const expectedShares = vault.depositShares(Number(depositRequested));
// actualAssets = shares * depositNAV / sharesTotal
Number const expectedAssets = vault.depositAssets(expectedShares);
// depositNAV = 10; shares = floor(3 * 7 / 10) = 2; assets = 2 * 10 / 7 = 20/7
// depositNAV = 10 (assetsTotal); shares = floor(3 * 7 / 10) = 2; assets = 2 * 10 / 7 =
// 20/7
BEAST_EXPECT(expectedShares == 2);
BEAST_EXPECT(expectedAssets == Number{20} / Number{7});
@@ -2925,7 +2938,7 @@ public:
// 1/3 is non-terminating -- STAmount truncates to 16 digits
Number const expectedOut = vault.redeemAssets(Number(redeemShares));
// assetsTotal=1, sharesTotal=3; assetsOut = 1 * 1 / 3 = 1/3
// withdrawalNAV = 1 (assetsTotal); sharesTotal = 3; assetsOut = 1 * 1 / 3 = 1/3
BEAST_EXPECT(expectedOut == Number{1} / Number{3});
// Compare as STAmount: redeem() returns STAmount which truncates
// to 16 significant digits, so comparing directly to the