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OETH Vault totalValue simplification #2163

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Aug 3, 2024
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OETH Vault totalValue simplification #2163

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28 changes: 8 additions & 20 deletions contracts/contracts/vault/OETHVaultCore.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -401,11 +401,14 @@ contract OETHVaultCore is VaultCore {
return 0;
}

// Get the WETH in the vault and the strategies
balance = super._checkBalance(_asset);

WithdrawalQueueMetadata memory queue = withdrawalQueueMetadata;
// If there is not enough WETH in the vault and strategies to cover the outstanding withdrawals.
// It can happen if more than half of the users have requested a withdrawal but have not claimed.

// If the vault becomes insolvent enough that the total value in the vault and all strategies
// is less than the outstanding withdrawals.
// For example, there was a mass slashing event and most users request a withdrawal.
if (balance + queue.claimed < queue.queued) {
return 0;
}
Expand Down Expand Up @@ -454,29 +457,14 @@ contract OETHVaultCore is VaultCore {
emit AssetAllocated(weth, depositStrategyAddr, allocateAmount);
}

/// @dev The total value of all assets held by the vault and all its strategies
/// @dev The total value of all WETH held by the vault and all its strategies
/// less any WETH that is reserved for the withdrawal queue.
/// For OETH, this is just WETH in the vault and strategies.
///
// If there is not enough WETH in the vault and all strategies to cover all outstanding
// withdrawal requests then return a total value of 0.
function _totalValue() internal view override returns (uint256 value) {
value = _totalValueInVault() + _totalValueInStrategies();

// Need to remove WETH that is reserved for the withdrawal queue.
WithdrawalQueueMetadata memory queue = withdrawalQueueMetadata;
// reserved for the withdrawal queue = cumulative queued total - total claimed
uint256 reservedForQueue = queue.queued - queue.claimed;

if (value < reservedForQueue) {
// This can happen if the vault becomes insolvent enough that the
// total value in the vault and all strategies is less than the outstanding withdrawals.
// For example, there was a mass slashing event and most users request a withdrawal.
return 0;
}

// Adjust the total value by the amount reserved for the withdrawal queue
return value - reservedForQueue;
// As WETH is the only asset, just return the WETH balance
return _checkBalance(weth);
}

/// @dev Only WETH is supported in the OETH Vault so return the WETH balance only
Expand Down