(InflationaryERC20): simplify conversion demurrage to inflationary, r…

…emove extension; clean up dead code
aboutcircles · Oct 10, 2024 · 188cbb7 · 188cbb7
1 parent b21dcc2
commit 188cbb7
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Showing 7 changed files with 25 additions and 70 deletions.
diff --git a/src/circles/Demurrage.sol b/src/circles/Demurrage.sol
@@ -261,17 +261,4 @@ contract Demurrage is ICirclesCompactErrors, ICirclesDemurrageErrors {
         // and do not cache it
         return Math64x64.pow(GAMMA_64x64, _dayDifference);
     }
-
-    /**
-     * Calculate the inflationary balance of a demurraged balance
-     * @param _balance Demurraged balance to calculate the inflationary balance of
-     * @param _dayUpdated The day the balance was last updated
-     */
-    function _calculateInflationaryBalance(uint256 _balance, uint256 _dayUpdated) internal pure returns (uint256) {
-        // calculate the inflationary balance by dividing the balance by GAMMA^days
-        // note: GAMMA < 1, so dividing by a power of it, returns a bigger number,
-        //       so the numerical imprecision is in the least significant bits.
-        int128 i = Math64x64.pow(BETA_64x64, _dayUpdated);
-        return Math64x64.mulu(i, _balance);
-    }
 }
diff --git a/src/circles/DiscountedBalances.sol b/src/circles/DiscountedBalances.sol
@@ -78,16 +78,6 @@ contract DiscountedBalances is Demurrage {
 
     // Internal functions
 
-    /**
-     * @dev Calculate the inflationary balance of a discounted balance
-     * @param _account Address of the account to calculate the balance of
-     * @param _id Circles identifier for which to calculate the balance
-     */
-    function _inflationaryBalanceOf(address _account, uint256 _id) internal view returns (uint256) {
-        DiscountedBalance memory discountedBalance = discountedBalances[_id][_account];
-        return _calculateInflationaryBalance(discountedBalance.balance, discountedBalance.lastUpdatedDay);
-    }
-
     /**
      * @dev Update the balance of an account for a given Circles identifier
      * @param _account Address of the account to update the balance of

diff --git a/src/circles/InflationaryOperator.sol b/src/circles/InflationaryOperator.sol
@@ -94,6 +94,6 @@ contract InflationaryCirclesOperator is BatchedDemurrage {
     function _inflationaryBalanceOf(address _account, uint256 _id) internal view returns (uint256) {
         // retrieve the balance in demurrage units (of today)
         uint256 balance = hub.balanceOf(_account, _id);
-        return _calculateInflationaryBalance(balance, day(block.timestamp));
+        return convertDemurrageToInflationaryValue(balance, day(block.timestamp));
     }
 }
diff --git a/src/lift/DemurrageCircles.sol b/src/lift/DemurrageCircles.sol
@@ -74,7 +74,7 @@ contract DemurrageCircles is MasterCopyNonUpgradable, ERC20DiscountedBalances, E
         _burn(msg.sender, _amount);
         hub.safeTransferFrom(address(this), msg.sender, toTokenId(avatar), _amount, "");
 
-        uint256 inflationaryAmount = _calculateInflationaryBalance(_amount, day(block.timestamp));
+        uint256 inflationaryAmount = convertDemurrageToInflationaryValue(_amount, day(block.timestamp));
 
         emit WithdrawDemurraged(msg.sender, _amount, inflationaryAmount);
     }
@@ -107,7 +107,7 @@ contract DemurrageCircles is MasterCopyNonUpgradable, ERC20DiscountedBalances, E
         if (_id != toTokenId(avatar)) revert CirclesInvalidCirclesId(_id, 0);
         _mint(_from, _amount);
 
-        uint256 inflationaryAmount = _calculateInflationaryBalance(_amount, day(block.timestamp));
+        uint256 inflationaryAmount = convertDemurrageToInflationaryValue(_amount, day(block.timestamp));
 
         emit DepositDemurraged(_from, _amount, inflationaryAmount);
 

diff --git a/src/lift/ERC20DiscountedBalances.sol b/src/lift/ERC20DiscountedBalances.sol
@@ -102,11 +102,6 @@ contract ERC20DiscountedBalances is ERC20Permit, BatchedDemurrage, IERC20 {
 
     // Internal functions
 
-    function _inflationaryBalanceOf(address _account) internal view returns (uint256) {
-        DiscountedBalance memory discountedBalance = discountedBalances[_account];
-        return _calculateInflationaryBalance(discountedBalance.balance, discountedBalance.lastUpdatedDay);
-    }
-
     function _updateBalance(address _account, uint256 _balance, uint64 _day) internal {
         if (_balance > MAX_VALUE) {
             // Balance exceeds maximum value.

diff --git a/src/lift/ERC20InflationaryBalances.sol b/src/lift/ERC20InflationaryBalances.sol
@@ -6,15 +6,11 @@ import "../circles/BatchedDemurrage.sol";
 import "./ERC20Permit.sol";
 
 contract ERC20InflationaryBalances is ERC20Permit, BatchedDemurrage, IERC20 {
-    // Constants
-
-    uint8 internal constant EXTENDED_ACCURACY_BITS = 64;
-
     // State variables
 
-    uint256 internal _extendedTotalSupply;
+    uint256 internal _totalSupply;
 
-    mapping(address => uint256) private _extendedAccuracyBalances;
+    mapping(address => uint256) private _balances;
 
     // Constructor
 
@@ -55,66 +51,54 @@ contract ERC20InflationaryBalances is ERC20Permit, BatchedDemurrage, IERC20 {
     }
 
     function balanceOf(address _account) external view returns (uint256) {
-        return _extendedAccuracyBalances[_account] >> EXTENDED_ACCURACY_BITS;
+        return _balances[_account];
     }
 
     function allowance(address _owner, address _spender) external view returns (uint256) {
         return _allowances[_owner][_spender];
     }
 
     function totalSupply() external view returns (uint256) {
-        return _extendedTotalSupply >> EXTENDED_ACCURACY_BITS;
+        return _totalSupply;
     }
 
     // Internal functions
 
-    function _convertToExtended(uint256 _amount) internal pure returns (uint256) {
-        if (_amount > MAX_VALUE) revert CirclesAmountOverflow(_amount, 0);
-        return _amount << EXTENDED_ACCURACY_BITS;
-    }
-
     function _transfer(address _from, address _to, uint256 _amount) internal {
-        uint256 extendedAmount = _convertToExtended(_amount);
-        uint256 extendedFromBalance = _extendedAccuracyBalances[_from];
-        if (extendedFromBalance < extendedAmount) {
-            revert ERC20InsufficientBalance(_from, extendedFromBalance >> EXTENDED_ACCURACY_BITS, _amount);
+        uint256 fromBalance = _balances[_from];
+        if (fromBalance < _amount) {
+            revert ERC20InsufficientBalance(_from, fromBalance, _amount);
         }
         unchecked {
-            _extendedAccuracyBalances[_from] = extendedFromBalance - extendedAmount;
+            _balances[_from] = fromBalance - _amount;
             // rely on total supply not having overflowed
-            _extendedAccuracyBalances[_to] += extendedAmount;
+            _balances[_to] += _amount;
         }
         emit Transfer(_from, _to, _amount);
     }
 
     function _mintFromDemurragedAmount(address _owner, uint256 _demurragedAmount) internal returns (uint256) {
-        // first convert to extended accuracy representation so we have extra garbage bits,
-        // before we apply the inflation factor, which will produce errors in the least significant bits
-        uint256 extendedAmount =
-            _calculateInflationaryBalance(_convertToExtended(_demurragedAmount), day(block.timestamp));
+        uint256 inflationaryAmount = convertDemurrageToInflationaryValue(_demurragedAmount, day(block.timestamp));
         // here ensure total supply does not overflow
-        _extendedTotalSupply += extendedAmount;
+        _totalSupply += inflationaryAmount;
         unchecked {
-            _extendedAccuracyBalances[_owner] += extendedAmount;
+            _balances[_owner] += inflationaryAmount;
         }
-        emit Transfer(address(0), _owner, extendedAmount >> EXTENDED_ACCURACY_BITS);
+        emit Transfer(address(0), _owner, inflationaryAmount);
 
-        return extendedAmount >> EXTENDED_ACCURACY_BITS;
+        return inflationaryAmount;
     }
 
-    function _burn(address _owner, uint256 _amount) internal returns (uint256) {
-        uint256 extendedAmount = _convertToExtended(_amount);
-        uint256 extendedOwnerBalance = _extendedAccuracyBalances[_owner];
-        if (extendedOwnerBalance < extendedAmount) {
-            revert ERC20InsufficientBalance(_owner, _extendedAccuracyBalances[_owner], _amount);
+    function _burn(address _owner, uint256 _amount) internal {
+        uint256 ownerBalance = _balances[_owner];
+        if (ownerBalance < _amount) {
+            revert ERC20InsufficientBalance(_owner, ownerBalance, _amount);
         }
         unchecked {
-            _extendedAccuracyBalances[_owner] = extendedOwnerBalance - extendedAmount;
+            _balances[_owner] = ownerBalance - _amount;
             // rely on total supply tracking complete sum of balances
-            _extendedTotalSupply -= extendedAmount;
+            _totalSupply -= _amount;
         }
         emit Transfer(_owner, address(0), _amount);
-
-        return extendedAmount;
     }
 }
diff --git a/src/lift/InflationaryCircles.sol b/src/lift/InflationaryCircles.sol
@@ -78,11 +78,10 @@ contract InflationaryCircles is MasterCopyNonUpgradable, ERC20InflationaryBalanc
     // External functions
 
     function unwrap(uint256 _amount) external {
-        uint256 extendedAmount = _burn(msg.sender, _amount);
+        _burn(msg.sender, _amount);
         // calculate demurraged amount in extended accuracy representation
         // then discard garbage bits by shifting right
-        uint256 demurragedAmount =
-            convertInflationaryToDemurrageValue(extendedAmount, day(block.timestamp)) >> EXTENDED_ACCURACY_BITS;
+        uint256 demurragedAmount = convertInflationaryToDemurrageValue(_amount, day(block.timestamp));
 
         hub.safeTransferFrom(address(this), msg.sender, toTokenId(avatar), demurragedAmount, "");