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hpmaxi
marked this pull request as ready for review
October 17, 2026 05:16
luchobonatti
approved these changes
Oct 21, 2026
luchobonatti
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This is L-01's suggestion as written, and reduce covers the clamping half of L-08. One doc thought: the design doc only states the rounding rule for wind-down rounds; the epoch rule (remainder stays in the reserve as fund money) lives in kit-spec alone. Could it get a line in the pricing section too?
| - **Settlement**: pricing records what each epoch promised (`shares_promised`, `assets_promised`, see `get_epoch_settlement`). Claims floor one by one, so together they pay at most that. When the last request of a priced epoch settles, the remainder leaves `pending_mint_shares` and `committed` and the vault publishes `EpochReconciled { epoch, share_dust, cash_dust }`. The cash stays in the reserve, owed to nobody, and reaches every holder through the NAV. A running total that would go below zero fails with `AccountingMismatch` (6070) instead of clamping. | ||
| - **A request that can never settle** keeps its epoch open, and the two cases leave different amounts behind. A zero-asset redemption whose holder the share token refuses (`a_request_that_cannot_settle_keeps_its_epoch_open`) leaves only the epoch's ordinary rounding remainder in `committed` — fewer units than the epoch has open requests of that kind — because that request was never owed any cash. A priced deposit whose mint a compliance module refuses (`a_refused_mint_keeps_a_priced_deposit_epoch_open`) is not rounding dust: the mint reverts, so that deposit's whole share entitlement stays in `pending_mint_shares`, on top of the epoch's own remainder, until the mint is allowed. Either way it is still owed to nobody. | ||
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| **Settlement and upgrades.** The settlement record counts a request only from the moment it exists. A vault upgraded in place to this version while any request is open would under-count its open epochs: claims in epochs priced before the upgrade would revert, and a mixed epoch could reconcile early. This version must therefore be deployed fresh, or reached by upgrade only once no request is open anywhere in the vault. |
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apply upgrades without checking for open requests, so this rule is enforced only by the doc. Could apply_upgrade refuse while any request is open, or could the migration count them?
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Summary
Closes #283
Flooring the epoch total and then each claim left a remainder that was never reconciled. It is now. Each epoch records what pricing promised and what has been paid; when its last request settles, the remainder leaves
pending_mint_sharesandcommitted, stays in the reserve as fund money, andEpochReconciledsays how much. Every subtraction from a running total is checked.Changes
get_epoch_settlement, eventEpochReconciled.AccountingMismatch, 6070).Deviations
owed"the same treatment on the last claim". That is not safe: a later round needs those units. The remainder stays (at most one unit per holder), and a test shows why.Acceptance criteria
EpochReconciledTest plan
Automated tests
SOROBAN_SDK_BUILD_SYSTEM_SUPPORTS_SPEC_SHAKING_V2=1 nix develop -c cargo test --locked -p async-vault settlement wind_downManual verification
None.
Breaking changes
None for callers; a new view and a new event. This version must be deployed fresh, or reached by upgrade only when no request is open: the settlement record counts requests from the moment it exists, so upgrading a vault in place while a request is open would under-count its open epochs, reverting claims from epochs priced before the upgrade and risking an early reconcile of a mixed epoch.
Checklist
Screenshots
None.