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[yAudit-02] Allow deposits at exact solvency #308

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Merged
clement-ux merged 1 commit into from
Jul 22, 2026
Merged

[yAudit-02] Allow deposits at exact solvency #308

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2 changes: 1 addition & 1 deletion src/contracts/AbstractARM.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -786,7 +786,7 @@ abstract contract AbstractARM is OwnableOperable, ERC20Upgradeable, ReentrancyGu
// Treat accrued fees as a senior liability. If gross assets no longer cover
// accrued fees plus the minimum native-liquidity floor, new deposits would be
// minted against the floor and backfill the shortfall, so block deposits.
bool atAssetFloor = feesAccruedMem + MIN_LIQUIDITY >= grossAssets;
bool atAssetFloor = feesAccruedMem + MIN_LIQUIDITY > grossAssets;
if (atAssetFloor && (feesAccruedMem != 0 || reservedWithdrawLiquidity != 0)) revert Insolvent();

uint256 netAssets = atAssetFloor ? MIN_LIQUIDITY : grossAssets - feesAccruedMem;
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22 changes: 20 additions & 2 deletions test/unit/MultiAssetARM/concrete/Deposit.t.sol
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Expand Up @@ -89,14 +89,32 @@ abstract contract Deposit_Test is Unit_MultiAssetARM_Shared_Test {
uint256 fees = _generateFees();
assertEq(arm.reservedWithdrawLiquidity(), 0, "no reserved withdrawals");

// Simulate a loss that leaves accrued fees undercollateralized at the asset floor.
_setArmBalances(fees + MIN_LIQUIDITY(), 0);
// Simulate a loss that leaves accrued fees undercollateralized below the asset floor.
_setArmBalances(fees + MIN_LIQUIDITY() - 1, 0);

vm.expectRevert(AbstractARM.Insolvent.selector);
vm.prank(alice);
arm.deposit(LIQUIDITY_UNIT());
}

function test_Deposit_WhenAccruedFeesExactlyBacked() public {
uint256 fees = _generateFees();
assertEq(arm.reservedWithdrawLiquidity(), 0, "no reserved withdrawals");

_setArmBalances(fees + MIN_LIQUIDITY(), 0);

uint256 amount = LIQUIDITY_UNIT();
uint256 expectedShares = amount * arm.totalSupply() / MIN_LIQUIDITY();
_mint(liquidity, bobby, amount);

vm.prank(bobby);
uint256 shares = arm.deposit(amount);

assertEq(shares, expectedShares, "shares returned");
assertEq(arm.balanceOf(bobby), expectedShares, "bobby shares");
assertEq(arm.totalAssets(), MIN_LIQUIDITY() + amount, "net assets increase by deposit");
}

function _generateFees() internal returns (uint256 fees) {
firstDeposit(alice, DEFAULT_AMOUNT());

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