From af57bd3a705ae16167224fd30066eb60f37d81df Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Wed, 1 May 2024 17:02:42 -0400
Subject: [PATCH 01/20] separate subtractions from share reserves to avoid
 negative value

---
 crates/hyperdrive-math/src/short/max.rs | 10 ++++++----
 1 file changed, 6 insertions(+), 4 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index fbfd58e5..b3ce4047 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -437,10 +437,12 @@ impl State {
         };
         let curve_fee_base = self.open_short_curve_fee(bond_amount)?;
         let share_reserves = self.share_reserves()
-            - (principal
-                - (curve_fee_base
-                    - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?)
-                    / self.vault_share_price());
+            - principal
+            + (
+                curve_fee_base
+                - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?
+            )
+            / self.vault_share_price();
         let exposure = {
             let checkpoint_exposure: FixedPoint =
                 checkpoint_exposure.max(I256::zero()).try_into()?;

From 222aeba7ee0b5491c593518a55595dcd8ca3e96d Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Thu, 2 May 2024 12:35:24 -0400
Subject: [PATCH 02/20] fuzz over fixed rate

---
 crates/hyperdrive-math/src/short/max.rs | 4 +---
 1 file changed, 1 insertion(+), 3 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index b3ce4047..eb85a46e 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -608,10 +608,8 @@ mod tests {
             // Snapshot the chain.
             let id = chain.snapshot().await?;
 
-            // TODO: We should fuzz over a range of fixed rates.
-            //
             // Fund Alice and Bob.
-            let fixed_rate = fixed!(0.05e18);
+            let fixed_rate = rng.gen_range(fixed!(0.01e18)..=fixed!(0.1e18));
             let contribution = rng.gen_range(fixed!(100_000e18)..=fixed!(100_000_000e18));
             alice.fund(contribution).await?;
 

From b9e3068bd5727202fa645973156a7c2ad86ef34a Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Thu, 2 May 2024 12:37:47 -0400
Subject: [PATCH 03/20] fuzz 10x wider

---
 crates/hyperdrive-math/src/short/max.rs          | 3 ++-
 crates/hyperdrive-test-utils/src/chain/deploy.rs | 8 ++++----
 2 files changed, 6 insertions(+), 5 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index eb85a46e..55a18736 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -609,7 +609,8 @@ mod tests {
             let id = chain.snapshot().await?;
 
             // Fund Alice and Bob.
-            let fixed_rate = rng.gen_range(fixed!(0.01e18)..=fixed!(0.1e18));
+            let fixed_rate = rng.gen_range(fixed!(0.01e18)..=fixed!(1e18));
+            println!("Fixed rate: {}", fixed_rate);
             let contribution = rng.gen_range(fixed!(100_000e18)..=fixed!(100_000_000e18));
             alice.fund(contribution).await?;
 
diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 831614a6..7f3f8b22 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -226,10 +226,10 @@ impl Default for TestChainConfig {
             factory_max_position_duration: U256::from(60 * 60 * 24 * 365 * 10), // 10 years
             factory_min_circuit_breaker_delta: uint256!(0.15e18),
             factory_max_circuit_breaker_delta: uint256!(2e18),
-            factory_min_fixed_apr: uint256!(0.01e18),
-            factory_max_fixed_apr: uint256!(0.5e18),
-            factory_min_time_stretch_apr: uint256!(0.01e18),
-            factory_max_time_stretch_apr: uint256!(0.5e18),
+            factory_min_fixed_apr: uint256!(0),
+            factory_max_fixed_apr: uint256!(10e18),
+            factory_min_time_stretch_apr: uint256!(0),
+            factory_max_time_stretch_apr: uint256!(10e18),
             factory_min_curve_fee: uint256!(0.0001e18),
             factory_min_flat_fee: uint256!(0.0001e18),
             factory_min_governance_lp_fee: uint256!(0.15e18),

From af13571ae71a0348ff1f48cec6849485996e7612 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Thu, 2 May 2024 12:42:25 -0400
Subject: [PATCH 04/20] make test crash by reverting the fix

---
 crates/hyperdrive-math/src/short/max.rs | 17 +++++++++++------
 1 file changed, 11 insertions(+), 6 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index 55a18736..ba9495f4 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -436,13 +436,18 @@ impl State {
             return Ok(None);
         };
         let curve_fee_base = self.open_short_curve_fee(bond_amount)?;
+        // let share_reserves = self.share_reserves()
+        //     - principal
+        //     + (
+        //         curve_fee_base
+        //         - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?
+        //     )
+        //     / self.vault_share_price();
         let share_reserves = self.share_reserves()
-            - principal
-            + (
-                curve_fee_base
-                - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?
-            )
-            / self.vault_share_price();
+            - (principal
+                - (curve_fee_base
+                    - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?)
+                    / self.vault_share_price());
         let exposure = {
             let checkpoint_exposure: FixedPoint =
                 checkpoint_exposure.max(I256::zero()).try_into()?;

From c874cc5cee77be56d7bf3588247177e0db54454d Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Thu, 2 May 2024 15:42:31 -0400
Subject: [PATCH 05/20] actually make test fail

---
 crates/hyperdrive-math/src/short/max.rs       | 75 ++++++++++++++++++-
 .../hyperdrive-test-utils/src/chain/deploy.rs |  6 +-
 2 files changed, 77 insertions(+), 4 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index ba9495f4..f4b513ed 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -1,6 +1,12 @@
 use ethers::types::I256;
+<<<<<<< HEAD
 use eyre::{eyre, Result};
 use fixed_point::{fixed, FixedPoint};
+=======
+use fixed_point::FixedPoint;
+use eyre::{eyre, Result};
+use fixed_point_macros::fixed;
+>>>>>>> 4ef681e (actually make test fail)
 
 use crate::{calculate_effective_share_reserves, State, YieldSpace};
 
@@ -294,7 +300,12 @@ impl State {
             optimal_bond_reserves - self.bond_reserves()
         };
         if self
+<<<<<<< HEAD
             .solvency_after_short(absolute_max_bond_amount, checkpoint_exposure)?
+=======
+            .solvency_after_short(absolute_max_bond_amount, spot_price, checkpoint_exposure)
+            .unwrap()
+>>>>>>> 4ef681e (actually make test fail)
             .is_some()
         {
             return Ok(absolute_max_bond_amount);
@@ -317,11 +328,21 @@ impl State {
         //
         // The guess that we make is very important in determining how quickly
         // we converge to the solution.
+<<<<<<< HEAD
         let mut max_bond_amount = self.absolute_max_short_guess(spot_price, checkpoint_exposure)?;
         let mut solvency = match self.solvency_after_short(max_bond_amount, checkpoint_exposure)? {
             Some(solvency) => solvency,
             None => return Err(eyre!("Initial guess in `absolute_max_short` is insolvent.")),
         };
+=======
+        let mut max_bond_amount = self.absolute_max_short_guess(spot_price, checkpoint_exposure).unwrap();
+        let mut maybe_solvency =
+            self.solvency_after_short(max_bond_amount, spot_price, checkpoint_exposure).unwrap();
+        if maybe_solvency.is_none() {
+            panic!("Initial guess in `absolute_max_short` is insolvent.");
+        }
+        let mut solvency = maybe_solvency.unwrap();
+>>>>>>> 4ef681e (actually make test fail)
         for _ in 0..maybe_max_iterations.unwrap_or(7) {
             // TODO: It may be better to gracefully handle crossing over the
             // root by extending the fixed point math library to handle negative
@@ -343,6 +364,7 @@ impl State {
 
             // If the candidate is insolvent, we've gone too far and can stop
             // iterating. Otherwise, we update our guess and continue.
+<<<<<<< HEAD
             solvency =
                 match self.solvency_after_short(possible_max_bond_amount, checkpoint_exposure)? {
                     Some(solvency) => {
@@ -351,6 +373,19 @@ impl State {
                     }
                     None => break,
                 };
+=======
+            maybe_solvency = self.solvency_after_short(
+                possible_max_bond_amount,
+                spot_price,
+                checkpoint_exposure,
+            ).unwrap();
+            if let Some(s) = maybe_solvency {
+                solvency = s;
+                max_bond_amount = possible_max_bond_amount;
+            } else {
+                break;
+            }
+>>>>>>> 4ef681e (actually make test fail)
         }
 
         Ok(max_bond_amount)
@@ -449,6 +484,7 @@ impl State {
                     - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?)
                     / self.vault_share_price());
         let exposure = {
+<<<<<<< HEAD
             let checkpoint_exposure: FixedPoint =
                 checkpoint_exposure.max(I256::zero()).try_into()?;
             // Check for underflow.
@@ -462,6 +498,16 @@ impl State {
             Ok(Some(
                 share_reserves - exposure - self.minimum_share_reserves(),
             ))
+=======
+            let checkpoint_exposure: FixedPoint = checkpoint_exposure.max(I256::zero()).into();
+            if self.long_exposure() <= checkpoint_exposure {
+                return Err(eyre!("InsufficientLongExposure",));
+            }
+            (self.long_exposure() - checkpoint_exposure) / self.vault_share_price()
+        };
+        if share_reserves >= exposure + self.minimum_share_reserves() {
+            Ok(Some(share_reserves - exposure - self.minimum_share_reserves()))
+>>>>>>> 4ef681e (actually make test fail)
         } else {
             Ok(None)
         }
@@ -527,11 +573,24 @@ mod tests {
     #[tokio::test]
     async fn fuzz_calculate_max_short_no_budget() -> Result<()> {
         let chain = TestChain::new().await?;
+        let mut lowest_rate: Option<FixedPoint> = None;
+        let mut highest_rate: Option<FixedPoint> = None;
+
+        let mut passed_tests = 0;
+        let mut failed_tests = 0;
 
         // Fuzz the rust and solidity implementations against each other.
         let mut rng = thread_rng();
         for _ in 0..*FAST_FUZZ_RUNS {
             let state = rng.gen::<State>();
+            let fixed_rate = state.calculate_spot_rate();
+            if lowest_rate.is_none() || fixed_rate < lowest_rate.unwrap() {
+                lowest_rate = Some(fixed_rate);
+            }
+            if highest_rate.is_none() || fixed_rate > highest_rate.unwrap() {
+                highest_rate = Some(fixed_rate);
+            }
+            println!("Fixed rate: {}", fixed_rate);
             let checkpoint_exposure = {
                 let value = rng.gen_range(fixed!(0)..=FixedPoint::try_from(I256::MAX)?);
                 if rng.gen() {
@@ -576,6 +635,7 @@ mod tests {
                 .await
             {
                 Ok(expected) => {
+<<<<<<< HEAD
                     // TODO: remove this tolerance when calculate_open_short
                     // rust implementation matches solidity.
                     // Currently, only about 1 - 4 / 1000 tests aren't
@@ -590,6 +650,20 @@ mod tests {
                     assert!(actual.is_err() || actual.unwrap().is_err());
                 }
             };
+=======
+                    passed_tests += 1;
+                    assert_eq!(actual.unwrap(), FixedPoint::from(expected));
+                }
+                Err(expected) => {
+                    failed_tests += 1;
+                    println!("Test failed: actual: {:?} expected: {:?}", actual, expected);
+                    assert!(actual.is_err());
+                }
+            }  // end for loop
+            let total_tests = failed_tests + passed_tests;
+            let failure_rate = failed_tests as f64 / total_tests as f64;
+            println!("Total tests: {} Passed: {} Failed: {}, Failure rate: {}", total_tests, passed_tests, failed_tests, failure_rate);
+>>>>>>> 4ef681e (actually make test fail)
         }
         Ok(())
     }
@@ -615,7 +689,6 @@ mod tests {
 
             // Fund Alice and Bob.
             let fixed_rate = rng.gen_range(fixed!(0.01e18)..=fixed!(1e18));
-            println!("Fixed rate: {}", fixed_rate);
             let contribution = rng.gen_range(fixed!(100_000e18)..=fixed!(100_000_000e18));
             alice.fund(contribution).await?;
 
diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 7f3f8b22..2c39a788 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -342,9 +342,9 @@ impl TestnetDeploy for Chain {
             sweep_collector: client.address(),
             governance: client.address(),
             fees: Fees {
-                curve: uint256!(0.05e18),
-                flat: uint256!(0.0005e18),
-                governance_lp: uint256!(0.15e18),
+                curve: uint256!(0.01e18),
+                flat: uint256!(0e18),
+                governance_lp: uint256!(0.1e18),
                 governance_zombie: uint256!(0.15e18),
             },
         };

From 793cd15844442e4148c6c718c4916ed52e71b024 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Sat, 1 Jun 2024 01:43:54 -0400
Subject: [PATCH 06/20] fix rebase

---
 crates/hyperdrive-math/src/short/max.rs | 63 ++-----------------------
 1 file changed, 4 insertions(+), 59 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index f4b513ed..f0268ced 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -1,12 +1,6 @@
 use ethers::types::I256;
-<<<<<<< HEAD
 use eyre::{eyre, Result};
 use fixed_point::{fixed, FixedPoint};
-=======
-use fixed_point::FixedPoint;
-use eyre::{eyre, Result};
-use fixed_point_macros::fixed;
->>>>>>> 4ef681e (actually make test fail)
 
 use crate::{calculate_effective_share_reserves, State, YieldSpace};
 
@@ -300,12 +294,7 @@ impl State {
             optimal_bond_reserves - self.bond_reserves()
         };
         if self
-<<<<<<< HEAD
             .solvency_after_short(absolute_max_bond_amount, checkpoint_exposure)?
-=======
-            .solvency_after_short(absolute_max_bond_amount, spot_price, checkpoint_exposure)
-            .unwrap()
->>>>>>> 4ef681e (actually make test fail)
             .is_some()
         {
             return Ok(absolute_max_bond_amount);
@@ -328,21 +317,11 @@ impl State {
         //
         // The guess that we make is very important in determining how quickly
         // we converge to the solution.
-<<<<<<< HEAD
         let mut max_bond_amount = self.absolute_max_short_guess(spot_price, checkpoint_exposure)?;
         let mut solvency = match self.solvency_after_short(max_bond_amount, checkpoint_exposure)? {
             Some(solvency) => solvency,
             None => return Err(eyre!("Initial guess in `absolute_max_short` is insolvent.")),
         };
-=======
-        let mut max_bond_amount = self.absolute_max_short_guess(spot_price, checkpoint_exposure).unwrap();
-        let mut maybe_solvency =
-            self.solvency_after_short(max_bond_amount, spot_price, checkpoint_exposure).unwrap();
-        if maybe_solvency.is_none() {
-            panic!("Initial guess in `absolute_max_short` is insolvent.");
-        }
-        let mut solvency = maybe_solvency.unwrap();
->>>>>>> 4ef681e (actually make test fail)
         for _ in 0..maybe_max_iterations.unwrap_or(7) {
             // TODO: It may be better to gracefully handle crossing over the
             // root by extending the fixed point math library to handle negative
@@ -364,7 +343,6 @@ impl State {
 
             // If the candidate is insolvent, we've gone too far and can stop
             // iterating. Otherwise, we update our guess and continue.
-<<<<<<< HEAD
             solvency =
                 match self.solvency_after_short(possible_max_bond_amount, checkpoint_exposure)? {
                     Some(solvency) => {
@@ -373,19 +351,6 @@ impl State {
                     }
                     None => break,
                 };
-=======
-            maybe_solvency = self.solvency_after_short(
-                possible_max_bond_amount,
-                spot_price,
-                checkpoint_exposure,
-            ).unwrap();
-            if let Some(s) = maybe_solvency {
-                solvency = s;
-                max_bond_amount = possible_max_bond_amount;
-            } else {
-                break;
-            }
->>>>>>> 4ef681e (actually make test fail)
         }
 
         Ok(max_bond_amount)
@@ -484,7 +449,6 @@ impl State {
                     - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?)
                     / self.vault_share_price());
         let exposure = {
-<<<<<<< HEAD
             let checkpoint_exposure: FixedPoint =
                 checkpoint_exposure.max(I256::zero()).try_into()?;
             // Check for underflow.
@@ -498,16 +462,6 @@ impl State {
             Ok(Some(
                 share_reserves - exposure - self.minimum_share_reserves(),
             ))
-=======
-            let checkpoint_exposure: FixedPoint = checkpoint_exposure.max(I256::zero()).into();
-            if self.long_exposure() <= checkpoint_exposure {
-                return Err(eyre!("InsufficientLongExposure",));
-            }
-            (self.long_exposure() - checkpoint_exposure) / self.vault_share_price()
-        };
-        if share_reserves >= exposure + self.minimum_share_reserves() {
-            Ok(Some(share_reserves - exposure - self.minimum_share_reserves()))
->>>>>>> 4ef681e (actually make test fail)
         } else {
             Ok(None)
         }
@@ -635,35 +589,26 @@ mod tests {
                 .await
             {
                 Ok(expected) => {
-<<<<<<< HEAD
                     // TODO: remove this tolerance when calculate_open_short
                     // rust implementation matches solidity.
                     // Currently, only about 1 - 4 / 1000 tests aren't
-                    // exact matchces. Related issue:
+                    // exact matches. Related issue:
                     // https://github.com/delvtech/hyperdrive-rs/issues/45
+                    passed_tests += 1;
                     assert_eq!(
                         U256::from(actual.unwrap().unwrap()) / uint256!(1e12),
                         expected / uint256!(1e12)
                     );
                 }
-                Err(_) => {
-                    assert!(actual.is_err() || actual.unwrap().is_err());
-                }
-            };
-=======
-                    passed_tests += 1;
-                    assert_eq!(actual.unwrap(), FixedPoint::from(expected));
-                }
                 Err(expected) => {
                     failed_tests += 1;
                     println!("Test failed: actual: {:?} expected: {:?}", actual, expected);
-                    assert!(actual.is_err());
+                    assert!(actual.is_err() || actual.unwrap().is_err());
                 }
-            }  // end for loop
+            };
             let total_tests = failed_tests + passed_tests;
             let failure_rate = failed_tests as f64 / total_tests as f64;
             println!("Total tests: {} Passed: {} Failed: {}, Failure rate: {}", total_tests, passed_tests, failed_tests, failure_rate);
->>>>>>> 4ef681e (actually make test fail)
         }
         Ok(())
     }

From 27cf37b45c6df678f55b74926f0b2b5e58dba262 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Sat, 1 Jun 2024 01:53:13 -0400
Subject: [PATCH 07/20] unwrap fixed rate

---
 crates/hyperdrive-math/src/short/max.rs | 2 +-
 1 file changed, 1 insertion(+), 1 deletion(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index f0268ced..a134a1cf 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -544,7 +544,7 @@ mod tests {
             if highest_rate.is_none() || fixed_rate > highest_rate.unwrap() {
                 highest_rate = Some(fixed_rate);
             }
-            println!("Fixed rate: {}", fixed_rate);
+            println!("Fixed rate: {}", fixed_rate.expect("Failed to get fixed rate"));
             let checkpoint_exposure = {
                 let value = rng.gen_range(fixed!(0)..=FixedPoint::try_from(I256::MAX)?);
                 if rng.gen() {

From 4d9f3bf4cd48bada6a5a85479773a07f4ee031d4 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Sat, 1 Jun 2024 01:54:44 -0400
Subject: [PATCH 08/20] cargo fmt

---
 crates/hyperdrive-math/src/short/max.rs | 10 ++++++++--
 1 file changed, 8 insertions(+), 2 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index a134a1cf..5a907db0 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -544,7 +544,10 @@ mod tests {
             if highest_rate.is_none() || fixed_rate > highest_rate.unwrap() {
                 highest_rate = Some(fixed_rate);
             }
-            println!("Fixed rate: {}", fixed_rate.expect("Failed to get fixed rate"));
+            println!(
+                "Fixed rate: {}",
+                fixed_rate.expect("Failed to get fixed rate")
+            );
             let checkpoint_exposure = {
                 let value = rng.gen_range(fixed!(0)..=FixedPoint::try_from(I256::MAX)?);
                 if rng.gen() {
@@ -608,7 +611,10 @@ mod tests {
             };
             let total_tests = failed_tests + passed_tests;
             let failure_rate = failed_tests as f64 / total_tests as f64;
-            println!("Total tests: {} Passed: {} Failed: {}, Failure rate: {}", total_tests, passed_tests, failed_tests, failure_rate);
+            println!(
+                "Total tests: {} Passed: {} Failed: {}, Failure rate: {}",
+                total_tests, passed_tests, failed_tests, failure_rate
+            );
         }
         Ok(())
     }

From 38a7359c5fac8b65142f2ddd6de47f9f62eed9c7 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Sat, 1 Jun 2024 09:53:18 -0400
Subject: [PATCH 09/20] unwrap fixed rate properly

---
 crates/hyperdrive-math/src/short/max.rs | 7 ++-----
 rust-toolchain.toml                     | 2 ++
 2 files changed, 4 insertions(+), 5 deletions(-)
 create mode 100644 rust-toolchain.toml

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index 5a907db0..e936d7d7 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -537,17 +537,14 @@ mod tests {
         let mut rng = thread_rng();
         for _ in 0..*FAST_FUZZ_RUNS {
             let state = rng.gen::<State>();
-            let fixed_rate = state.calculate_spot_rate();
+            let fixed_rate = state.calculate_spot_rate().expect("Failed to get fixed rate");
             if lowest_rate.is_none() || fixed_rate < lowest_rate.unwrap() {
                 lowest_rate = Some(fixed_rate);
             }
             if highest_rate.is_none() || fixed_rate > highest_rate.unwrap() {
                 highest_rate = Some(fixed_rate);
             }
-            println!(
-                "Fixed rate: {}",
-                fixed_rate.expect("Failed to get fixed rate")
-            );
+            println!("Fixed rate: {}", fixed_rate);
             let checkpoint_exposure = {
                 let value = rng.gen_range(fixed!(0)..=FixedPoint::try_from(I256::MAX)?);
                 if rng.gen() {
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
new file mode 100644
index 00000000..292fe499
--- /dev/null
+++ b/rust-toolchain.toml
@@ -0,0 +1,2 @@
+[toolchain]
+channel = "stable"

From 806328f5896a2aea60070946b75a276026e249a8 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Sat, 1 Jun 2024 10:15:16 -0400
Subject: [PATCH 10/20] fmt and remove unstable features

---
 crates/hyperdrive-math/src/short/max.rs | 4 +++-
 rustfmt.toml                            | 3 ---
 2 files changed, 3 insertions(+), 4 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index e936d7d7..74b0a474 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -537,7 +537,9 @@ mod tests {
         let mut rng = thread_rng();
         for _ in 0..*FAST_FUZZ_RUNS {
             let state = rng.gen::<State>();
-            let fixed_rate = state.calculate_spot_rate().expect("Failed to get fixed rate");
+            let fixed_rate = state
+                .calculate_spot_rate()
+                .expect("Failed to get fixed rate");
             if lowest_rate.is_none() || fixed_rate < lowest_rate.unwrap() {
                 lowest_rate = Some(fixed_rate);
             }
diff --git a/rustfmt.toml b/rustfmt.toml
index 38aa0c67..44148a2d 100644
--- a/rustfmt.toml
+++ b/rustfmt.toml
@@ -1,4 +1 @@
-unstable_features = true
-imports_granularity = "Crate"
-group_imports = "StdExternalCrate"
 reorder_imports = true

From 72b5911c33693853090c2750f8658461250cbc54 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Sat, 1 Jun 2024 10:51:45 -0400
Subject: [PATCH 11/20] increase minimum fixed rate to 1bps

---
 crates/hyperdrive-test-utils/src/chain/deploy.rs | 2 +-
 1 file changed, 1 insertion(+), 1 deletion(-)

diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 2c39a788..00d11ff2 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -226,7 +226,7 @@ impl Default for TestChainConfig {
             factory_max_position_duration: U256::from(60 * 60 * 24 * 365 * 10), // 10 years
             factory_min_circuit_breaker_delta: uint256!(0.15e18),
             factory_max_circuit_breaker_delta: uint256!(2e18),
-            factory_min_fixed_apr: uint256!(0),
+            factory_min_fixed_apr: uint256!(0.001*1e18),
             factory_max_fixed_apr: uint256!(10e18),
             factory_min_time_stretch_apr: uint256!(0),
             factory_max_time_stretch_apr: uint256!(10e18),

From 06a9c6d7cdbb1fd00a6a3ec219dc9762e5f67eed Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Sat, 1 Jun 2024 11:12:31 -0400
Subject: [PATCH 12/20] cargo fmt

---
 crates/hyperdrive-test-utils/src/chain/deploy.rs | 2 +-
 1 file changed, 1 insertion(+), 1 deletion(-)

diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 00d11ff2..8994dfab 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -226,7 +226,7 @@ impl Default for TestChainConfig {
             factory_max_position_duration: U256::from(60 * 60 * 24 * 365 * 10), // 10 years
             factory_min_circuit_breaker_delta: uint256!(0.15e18),
             factory_max_circuit_breaker_delta: uint256!(2e18),
-            factory_min_fixed_apr: uint256!(0.001*1e18),
+            factory_min_fixed_apr: uint256!(0.001 * 1e18),
             factory_max_fixed_apr: uint256!(10e18),
             factory_min_time_stretch_apr: uint256!(0),
             factory_max_time_stretch_apr: uint256!(10e18),

From e8252380427f4f00afcaab2bad386bd14259293c Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 12:39:11 -0400
Subject: [PATCH 13/20] better logging to show tests actually pass correctly

---
 crates/hyperdrive-math/src/short/max.rs       | 30 +++++++++++--------
 .../hyperdrive-test-utils/src/chain/deploy.rs |  2 +-
 2 files changed, 19 insertions(+), 13 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index 74b0a474..c8b69833 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -530,8 +530,9 @@ mod tests {
         let mut lowest_rate: Option<FixedPoint> = None;
         let mut highest_rate: Option<FixedPoint> = None;
 
-        let mut passed_tests = 0;
-        let mut failed_tests = 0;
+        let mut both_pass_tests = 0;
+        let mut both_fail_tests = 0;
+        let mut mismatched_tests = 0;
 
         // Fuzz the rust and solidity implementations against each other.
         let mut rng = thread_rng();
@@ -596,23 +597,28 @@ mod tests {
                     // Currently, only about 1 - 4 / 1000 tests aren't
                     // exact matches. Related issue:
                     // https://github.com/delvtech/hyperdrive-rs/issues/45
-                    passed_tests += 1;
                     assert_eq!(
                         U256::from(actual.unwrap().unwrap()) / uint256!(1e12),
                         expected / uint256!(1e12)
                     );
+                    both_pass_tests += 1;
                 }
-                Err(expected) => {
-                    failed_tests += 1;
-                    println!("Test failed: actual: {:?} expected: {:?}", actual, expected);
-                    assert!(actual.is_err() || actual.unwrap().is_err());
-                }
+                Err(expected) => match actual {
+                    Err(_) => {
+                        both_fail_tests += 1;
+                        println!("Both failed: actual: {:?} expected: {:?}", actual, expected);
+                    },
+                    Ok(_) => {
+                        mismatched_tests += 1;
+                        println!("MISMATCHED: actual: {:?} expected: {:?}", actual, expected);
+                    },
+                },
             };
-            let total_tests = failed_tests + passed_tests;
-            let failure_rate = failed_tests as f64 / total_tests as f64;
+            let total_tests = both_pass_tests + both_fail_tests + mismatched_tests;
+            let failure_rate = mismatched_tests as f64 / total_tests as f64;
             println!(
-                "Total tests: {} Passed: {} Failed: {}, Failure rate: {}",
-                total_tests, passed_tests, failed_tests, failure_rate
+                "Total tests: {} Both pass: {} Both fail: {} Mismatched: {} Failure rate: {}",
+                total_tests, both_pass_tests, both_fail_tests, mismatched_tests, failure_rate
             );
         }
         Ok(())
diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 8994dfab..6249157c 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -226,7 +226,7 @@ impl Default for TestChainConfig {
             factory_max_position_duration: U256::from(60 * 60 * 24 * 365 * 10), // 10 years
             factory_min_circuit_breaker_delta: uint256!(0.15e18),
             factory_max_circuit_breaker_delta: uint256!(2e18),
-            factory_min_fixed_apr: uint256!(0.001 * 1e18),
+            factory_min_fixed_apr: uint256!(0.1e18),
             factory_max_fixed_apr: uint256!(10e18),
             factory_min_time_stretch_apr: uint256!(0),
             factory_max_time_stretch_apr: uint256!(10e18),

From 64582d106f2b4b827c0e4814fcf3c46b8f998475 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 12:55:35 -0400
Subject: [PATCH 14/20] fuzz fixed rate down to 1bps

---
 crates/hyperdrive-math/src/short/max.rs       |  2 +-
 .../hyperdrive-test-utils/src/chain/deploy.rs | 32 +++++++++----------
 2 files changed, 17 insertions(+), 17 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index c8b69833..d9049aaa 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -644,7 +644,7 @@ mod tests {
             let id = chain.snapshot().await?;
 
             // Fund Alice and Bob.
-            let fixed_rate = rng.gen_range(fixed!(0.01e18)..=fixed!(1e18));
+            let fixed_rate = rng.gen_range(fixed!(0.0001e18)..=fixed!(1e18));  // 0.01% to 100%
             let contribution = rng.gen_range(fixed!(100_000e18)..=fixed!(100_000_000e18));
             alice.fund(contribution).await?;
 
diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 6249157c..37d3f82a 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -219,23 +219,23 @@ impl Default for TestChainConfig {
             // lido configuration
             lido_starting_rate: uint256!(0.035e18),
             // factory configuration
-            factory_checkpoint_duration_resolution: U256::from(60 * 60), // 1 hour
-            factory_min_checkpoint_duration: U256::from(60 * 60),        // 1 hour
-            factory_max_checkpoint_duration: U256::from(60 * 60 * 24),   // 1 day
-            factory_min_position_duration: U256::from(60 * 60 * 24 * 7), // 7 days
+            factory_checkpoint_duration_resolution: U256::from(60 * 60),        // 1 hour
+            factory_min_checkpoint_duration: U256::from(60 * 60),               // 1 hour
+            factory_max_checkpoint_duration: U256::from(60 * 60 * 24),          // 1 day
+            factory_min_position_duration: U256::from(60 * 60 * 24 * 7),        // 7 days
             factory_max_position_duration: U256::from(60 * 60 * 24 * 365 * 10), // 10 years
             factory_min_circuit_breaker_delta: uint256!(0.15e18),
             factory_max_circuit_breaker_delta: uint256!(2e18),
-            factory_min_fixed_apr: uint256!(0.1e18),
-            factory_max_fixed_apr: uint256!(10e18),
-            factory_min_time_stretch_apr: uint256!(0),
-            factory_max_time_stretch_apr: uint256!(10e18),
-            factory_min_curve_fee: uint256!(0.0001e18),
-            factory_min_flat_fee: uint256!(0.0001e18),
+            factory_min_fixed_apr: uint256!(0.0001e18),                         // 0.01% or 1bps
+            factory_max_fixed_apr: uint256!(10e18),                             // 1000%
+            factory_min_time_stretch_apr: uint256!(0),                          // 0%
+            factory_max_time_stretch_apr: uint256!(10e18),                      // 1000%
+            factory_min_curve_fee: uint256!(0.0001e18),                         // 0.01%
+            factory_min_flat_fee: uint256!(0.0001e18),                          // 0.01%
             factory_min_governance_lp_fee: uint256!(0.15e18),
             factory_min_governance_zombie_fee: uint256!(0.03e18),
-            factory_max_curve_fee: uint256!(0.1e18),
-            factory_max_flat_fee: uint256!(0.001e18),
+            factory_max_curve_fee: uint256!(0.1e18),                            // 10%
+            factory_max_flat_fee: uint256!(0.001e18),                           // 0.1%
             factory_max_governance_lp_fee: uint256!(0.15e18),
             factory_max_governance_zombie_fee: uint256!(0.03e18),
             // erc4626 hyperdrive configuration
@@ -248,7 +248,7 @@ impl Default for TestChainConfig {
             erc4626_hyperdrive_position_duration: U256::from(60 * 60 * 24 * 7), // 7 days
             erc4626_hyperdrive_checkpoint_duration: U256::from(60 * 60),        // 1 hour
             erc4626_hyperdrive_curve_fee: uint256!(0.01e18),
-            erc4626_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52), // 0.05% APR
+            erc4626_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52),    // 0.05% APR
             erc4626_hyperdrive_governance_lp_fee: uint256!(0.15e18),
             erc4626_hyperdrive_governance_zombie_fee: uint256!(0.03e18),
             // steth hyperdrive configuration
@@ -258,10 +258,10 @@ impl Default for TestChainConfig {
             steth_hyperdrive_minimum_share_reserves: uint256!(1e15),
             steth_hyperdrive_minimum_transaction_amount: uint256!(1e15),
             steth_hyperdrive_circuit_breaker_delta: uint256!(2e18),
-            steth_hyperdrive_position_duration: U256::from(60 * 60 * 24 * 7), // 7 days
-            steth_hyperdrive_checkpoint_duration: U256::from(60 * 60),        // 1 hour
+            steth_hyperdrive_position_duration: U256::from(60 * 60 * 24 * 7),   // 7 days
+            steth_hyperdrive_checkpoint_duration: U256::from(60 * 60),          // 1 hour
             steth_hyperdrive_curve_fee: uint256!(0.01e18),
-            steth_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52), // 0.05% APR
+            steth_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52),      // 0.05% APR
             steth_hyperdrive_governance_lp_fee: uint256!(0.15e18),
             steth_hyperdrive_governance_zombie_fee: uint256!(0.03e18),
         }

From 3144a382bc72ebdeaff4aeefdff92534d036cc5e Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 13:27:08 -0400
Subject: [PATCH 15/20] revert fee change

---
 crates/hyperdrive-math/src/short/max.rs          | 1 +
 crates/hyperdrive-test-utils/src/chain/deploy.rs | 8 ++++----
 2 files changed, 5 insertions(+), 4 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index d9049aaa..17fcfc09 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -620,6 +620,7 @@ mod tests {
                 "Total tests: {} Both pass: {} Both fail: {} Mismatched: {} Failure rate: {}",
                 total_tests, both_pass_tests, both_fail_tests, mismatched_tests, failure_rate
             );
+            println!("Fuzzed over fixed rate from {:?} to {:?}", lowest_rate, highest_rate);
         }
         Ok(())
     }
diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 37d3f82a..043f617a 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -226,7 +226,7 @@ impl Default for TestChainConfig {
             factory_max_position_duration: U256::from(60 * 60 * 24 * 365 * 10), // 10 years
             factory_min_circuit_breaker_delta: uint256!(0.15e18),
             factory_max_circuit_breaker_delta: uint256!(2e18),
-            factory_min_fixed_apr: uint256!(0.0001e18),                         // 0.01% or 1bps
+            factory_min_fixed_apr: uint256!(0),                                 // 0%
             factory_max_fixed_apr: uint256!(10e18),                             // 1000%
             factory_min_time_stretch_apr: uint256!(0),                          // 0%
             factory_max_time_stretch_apr: uint256!(10e18),                      // 1000%
@@ -342,9 +342,9 @@ impl TestnetDeploy for Chain {
             sweep_collector: client.address(),
             governance: client.address(),
             fees: Fees {
-                curve: uint256!(0.01e18),
-                flat: uint256!(0e18),
-                governance_lp: uint256!(0.1e18),
+                curve: uint256!(0.05e18),
+                flat: uint256!(0.0005e18),
+                governance_lp: uint256!(0.15e18),
                 governance_zombie: uint256!(0.15e18),
             },
         };

From b6421a7be07098ec7069c49f8441edc38dfe2153 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 13:42:31 -0400
Subject: [PATCH 16/20] cargo fmt

---
 crates/hyperdrive-math/src/short/max.rs       | 11 ++++---
 .../hyperdrive-test-utils/src/chain/deploy.rs | 32 +++++++++----------
 2 files changed, 23 insertions(+), 20 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index 17fcfc09..17a55da4 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -607,11 +607,11 @@ mod tests {
                     Err(_) => {
                         both_fail_tests += 1;
                         println!("Both failed: actual: {:?} expected: {:?}", actual, expected);
-                    },
+                    }
                     Ok(_) => {
                         mismatched_tests += 1;
                         println!("MISMATCHED: actual: {:?} expected: {:?}", actual, expected);
-                    },
+                    }
                 },
             };
             let total_tests = both_pass_tests + both_fail_tests + mismatched_tests;
@@ -620,7 +620,10 @@ mod tests {
                 "Total tests: {} Both pass: {} Both fail: {} Mismatched: {} Failure rate: {}",
                 total_tests, both_pass_tests, both_fail_tests, mismatched_tests, failure_rate
             );
-            println!("Fuzzed over fixed rate from {:?} to {:?}", lowest_rate, highest_rate);
+            println!(
+                "Fuzzed over fixed rate from {:?} to {:?}",
+                lowest_rate, highest_rate
+            );
         }
         Ok(())
     }
@@ -645,7 +648,7 @@ mod tests {
             let id = chain.snapshot().await?;
 
             // Fund Alice and Bob.
-            let fixed_rate = rng.gen_range(fixed!(0.0001e18)..=fixed!(1e18));  // 0.01% to 100%
+            let fixed_rate = rng.gen_range(fixed!(0.0001e18)..=fixed!(1e18)); // 0.01% to 100%
             let contribution = rng.gen_range(fixed!(100_000e18)..=fixed!(100_000_000e18));
             alice.fund(contribution).await?;
 
diff --git a/crates/hyperdrive-test-utils/src/chain/deploy.rs b/crates/hyperdrive-test-utils/src/chain/deploy.rs
index 043f617a..32c4063d 100644
--- a/crates/hyperdrive-test-utils/src/chain/deploy.rs
+++ b/crates/hyperdrive-test-utils/src/chain/deploy.rs
@@ -219,23 +219,23 @@ impl Default for TestChainConfig {
             // lido configuration
             lido_starting_rate: uint256!(0.035e18),
             // factory configuration
-            factory_checkpoint_duration_resolution: U256::from(60 * 60),        // 1 hour
-            factory_min_checkpoint_duration: U256::from(60 * 60),               // 1 hour
-            factory_max_checkpoint_duration: U256::from(60 * 60 * 24),          // 1 day
-            factory_min_position_duration: U256::from(60 * 60 * 24 * 7),        // 7 days
+            factory_checkpoint_duration_resolution: U256::from(60 * 60), // 1 hour
+            factory_min_checkpoint_duration: U256::from(60 * 60),        // 1 hour
+            factory_max_checkpoint_duration: U256::from(60 * 60 * 24),   // 1 day
+            factory_min_position_duration: U256::from(60 * 60 * 24 * 7), // 7 days
             factory_max_position_duration: U256::from(60 * 60 * 24 * 365 * 10), // 10 years
             factory_min_circuit_breaker_delta: uint256!(0.15e18),
             factory_max_circuit_breaker_delta: uint256!(2e18),
-            factory_min_fixed_apr: uint256!(0),                                 // 0%
-            factory_max_fixed_apr: uint256!(10e18),                             // 1000%
-            factory_min_time_stretch_apr: uint256!(0),                          // 0%
-            factory_max_time_stretch_apr: uint256!(10e18),                      // 1000%
-            factory_min_curve_fee: uint256!(0.0001e18),                         // 0.01%
-            factory_min_flat_fee: uint256!(0.0001e18),                          // 0.01%
+            factory_min_fixed_apr: uint256!(0),            // 0%
+            factory_max_fixed_apr: uint256!(10e18),        // 1000%
+            factory_min_time_stretch_apr: uint256!(0),     // 0%
+            factory_max_time_stretch_apr: uint256!(10e18), // 1000%
+            factory_min_curve_fee: uint256!(0.0001e18),    // 0.01%
+            factory_min_flat_fee: uint256!(0.0001e18),     // 0.01%
             factory_min_governance_lp_fee: uint256!(0.15e18),
             factory_min_governance_zombie_fee: uint256!(0.03e18),
-            factory_max_curve_fee: uint256!(0.1e18),                            // 10%
-            factory_max_flat_fee: uint256!(0.001e18),                           // 0.1%
+            factory_max_curve_fee: uint256!(0.1e18),  // 10%
+            factory_max_flat_fee: uint256!(0.001e18), // 0.1%
             factory_max_governance_lp_fee: uint256!(0.15e18),
             factory_max_governance_zombie_fee: uint256!(0.03e18),
             // erc4626 hyperdrive configuration
@@ -248,7 +248,7 @@ impl Default for TestChainConfig {
             erc4626_hyperdrive_position_duration: U256::from(60 * 60 * 24 * 7), // 7 days
             erc4626_hyperdrive_checkpoint_duration: U256::from(60 * 60),        // 1 hour
             erc4626_hyperdrive_curve_fee: uint256!(0.01e18),
-            erc4626_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52),    // 0.05% APR
+            erc4626_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52), // 0.05% APR
             erc4626_hyperdrive_governance_lp_fee: uint256!(0.15e18),
             erc4626_hyperdrive_governance_zombie_fee: uint256!(0.03e18),
             // steth hyperdrive configuration
@@ -258,10 +258,10 @@ impl Default for TestChainConfig {
             steth_hyperdrive_minimum_share_reserves: uint256!(1e15),
             steth_hyperdrive_minimum_transaction_amount: uint256!(1e15),
             steth_hyperdrive_circuit_breaker_delta: uint256!(2e18),
-            steth_hyperdrive_position_duration: U256::from(60 * 60 * 24 * 7),   // 7 days
-            steth_hyperdrive_checkpoint_duration: U256::from(60 * 60),          // 1 hour
+            steth_hyperdrive_position_duration: U256::from(60 * 60 * 24 * 7), // 7 days
+            steth_hyperdrive_checkpoint_duration: U256::from(60 * 60),        // 1 hour
             steth_hyperdrive_curve_fee: uint256!(0.01e18),
-            steth_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52),      // 0.05% APR
+            steth_hyperdrive_flat_fee: uint256!(0.0005e18) / uint256!(52), // 0.05% APR
             steth_hyperdrive_governance_lp_fee: uint256!(0.15e18),
             steth_hyperdrive_governance_zombie_fee: uint256!(0.03e18),
         }

From cfdc4630a03c7c148fcaaaa61bfaade57dbe8c7b Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 13:50:12 -0400
Subject: [PATCH 17/20] better printouts

---
 crates/hyperdrive-math/src/short/max.rs | 29 +++++++++++++++----------
 1 file changed, 18 insertions(+), 11 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index 17a55da4..9135ad0e 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -436,18 +436,13 @@ impl State {
             return Ok(None);
         };
         let curve_fee_base = self.open_short_curve_fee(bond_amount)?;
-        // let share_reserves = self.share_reserves()
-        //     - principal
-        //     + (
-        //         curve_fee_base
-        //         - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?
-        //     )
-        //     / self.vault_share_price();
         let share_reserves = self.share_reserves()
-            - (principal
-                - (curve_fee_base
-                    - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?)
-                    / self.vault_share_price());
+            - principal
+            + (
+                curve_fee_base
+                - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?
+            )
+            / self.vault_share_price();
         let exposure = {
             let checkpoint_exposure: FixedPoint =
                 checkpoint_exposure.max(I256::zero()).try_into()?;
@@ -529,6 +524,8 @@ mod tests {
         let chain = TestChain::new().await?;
         let mut lowest_rate: Option<FixedPoint> = None;
         let mut highest_rate: Option<FixedPoint> = None;
+        let mut lowest_rate_mismatch: Option<FixedPoint> = None;
+        let mut highest_rate_mismatch: Option<FixedPoint> = None;
 
         let mut both_pass_tests = 0;
         let mut both_fail_tests = 0;
@@ -611,6 +608,12 @@ mod tests {
                     Ok(_) => {
                         mismatched_tests += 1;
                         println!("MISMATCHED: actual: {:?} expected: {:?}", actual, expected);
+                        if lowest_rate_mismatch.is_none() || fixed_rate < lowest_rate_mismatch.unwrap() {
+                            lowest_rate_mismatch = Some(fixed_rate);
+                        }
+                        if highest_rate_mismatch.is_none() || fixed_rate > highest_rate_mismatch.unwrap() {
+                            highest_rate_mismatch = Some(fixed_rate);
+                        }
                     }
                 },
             };
@@ -624,6 +627,10 @@ mod tests {
                 "Fuzzed over fixed rate from {:?} to {:?}",
                 lowest_rate, highest_rate
             );
+            println!(
+                "Mismatched  fixed rate from {:?} to {:?}",
+                lowest_rate_mismatch, highest_rate_mismatch
+            );
         }
         Ok(())
     }

From b991efc76677dc6c59ad5c6dc2a94d964f9624e2 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 17:12:53 -0400
Subject: [PATCH 18/20] gen state with effective_share_reserves

---
 crates/hyperdrive-math/src/lib.rs | 30 ++++++++++++++++--------------
 1 file changed, 16 insertions(+), 14 deletions(-)

diff --git a/crates/hyperdrive-math/src/lib.rs b/crates/hyperdrive-math/src/lib.rs
index 52ebf06f..87d41ff7 100644
--- a/crates/hyperdrive-math/src/lib.rs
+++ b/crates/hyperdrive-math/src/lib.rs
@@ -65,13 +65,27 @@ impl Distribution<State> for Standard {
         // We need the spot price to be less than or equal to 1, so we need to
         // generate the bond reserves so that mu * z <= y
         let share_reserves = rng.gen_range(fixed!(1_000e18)..=fixed!(100_000_000e18));
+        let share_adjustment = {
+            if rng.gen() {
+                -I256::try_from(rng.gen_range(fixed!(0)..=fixed!(100_000e18))).unwrap()
+            } else {
+                // We generate values that satisfy `z - zeta >= z_min`,
+                // so `z - z_min >= zeta`.
+                I256::try_from(rng.gen_range(
+                    fixed!(0)..(share_reserves - FixedPoint::from(config.minimum_share_reserves)),
+                ))
+                .unwrap()
+            }
+        };
+        let effective_share_reserves =
+            calculate_effective_share_reserves(share_reserves, share_adjustment).unwrap();
         let info = PoolInfo {
             share_reserves: share_reserves.into(),
             zombie_base_proceeds: fixed!(0).into(),
             zombie_share_reserves: fixed!(0).into(),
             bond_reserves: rng
                 .gen_range(
-                    share_reserves * FixedPoint::from(config.initial_vault_share_price)
+                    effective_share_reserves * FixedPoint::from(config.initial_vault_share_price)
                         ..=fixed!(1_000_000_000e18),
                 )
                 .into(),
@@ -79,19 +93,7 @@ impl Distribution<State> for Standard {
             longs_outstanding: rng.gen_range(fixed!(0)..=fixed!(100_000e18)).into(),
             shorts_outstanding: rng.gen_range(fixed!(0)..=fixed!(100_000e18)).into(),
             long_exposure: rng.gen_range(fixed!(0)..=fixed!(100_000e18)).into(),
-            share_adjustment: {
-                if rng.gen() {
-                    -I256::try_from(rng.gen_range(fixed!(0)..=fixed!(100_000e18))).unwrap()
-                } else {
-                    // We generate values that satisfy `z - zeta >= z_min`,
-                    // so `z - z_min >= zeta`.
-                    I256::try_from(rng.gen_range(
-                        fixed!(0)
-                            ..(share_reserves - FixedPoint::from(config.minimum_share_reserves)),
-                    ))
-                    .unwrap()
-                }
-            },
+            share_adjustment: share_adjustment.into(),
             // If this range returns greater than position duration, then both rust and solidity will fail
             // on calls that depend on this value.
             long_average_maturity_time: rng

From eb240ae9a6f9b49d8e10136a745f6b0895929b49 Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 17:18:10 -0400
Subject: [PATCH 19/20] cargo fmt

---
 crates/hyperdrive-math/src/short/max.rs | 19 ++++++++++---------
 1 file changed, 10 insertions(+), 9 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index 9135ad0e..aec4c1dc 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -436,13 +436,10 @@ impl State {
             return Ok(None);
         };
         let curve_fee_base = self.open_short_curve_fee(bond_amount)?;
-        let share_reserves = self.share_reserves()
-            - principal
-            + (
-                curve_fee_base
-                - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?
-            )
-            / self.vault_share_price();
+        let share_reserves = self.share_reserves() - principal
+            + (curve_fee_base
+                - self.open_short_governance_fee(bond_amount, Some(curve_fee_base))?)
+                / self.vault_share_price();
         let exposure = {
             let checkpoint_exposure: FixedPoint =
                 checkpoint_exposure.max(I256::zero()).try_into()?;
@@ -608,10 +605,14 @@ mod tests {
                     Ok(_) => {
                         mismatched_tests += 1;
                         println!("MISMATCHED: actual: {:?} expected: {:?}", actual, expected);
-                        if lowest_rate_mismatch.is_none() || fixed_rate < lowest_rate_mismatch.unwrap() {
+                        if lowest_rate_mismatch.is_none()
+                            || fixed_rate < lowest_rate_mismatch.unwrap()
+                        {
                             lowest_rate_mismatch = Some(fixed_rate);
                         }
-                        if highest_rate_mismatch.is_none() || fixed_rate > highest_rate_mismatch.unwrap() {
+                        if highest_rate_mismatch.is_none()
+                            || fixed_rate > highest_rate_mismatch.unwrap()
+                        {
                             highest_rate_mismatch = Some(fixed_rate);
                         }
                     }

From 989ad42c89e4b9179331f8b879e376a356433bca Mon Sep 17 00:00:00 2001
From: Mihai <mcosma@gmail.com>
Date: Mon, 3 Jun 2024 17:30:35 -0400
Subject: [PATCH 20/20] output only on mismatch

---
 crates/hyperdrive-math/src/short/max.rs | 38 ++++++++++++++-----------
 1 file changed, 22 insertions(+), 16 deletions(-)

diff --git a/crates/hyperdrive-math/src/short/max.rs b/crates/hyperdrive-math/src/short/max.rs
index aec4c1dc..a796e600 100644
--- a/crates/hyperdrive-math/src/short/max.rs
+++ b/crates/hyperdrive-math/src/short/max.rs
@@ -541,7 +541,7 @@ mod tests {
             if highest_rate.is_none() || fixed_rate > highest_rate.unwrap() {
                 highest_rate = Some(fixed_rate);
             }
-            println!("Fixed rate: {}", fixed_rate);
+            // println!("Fixed rate: {}", fixed_rate);
             let checkpoint_exposure = {
                 let value = rng.gen_range(fixed!(0)..=FixedPoint::try_from(I256::MAX)?);
                 if rng.gen() {
@@ -600,11 +600,17 @@ mod tests {
                 Err(expected) => match actual {
                     Err(_) => {
                         both_fail_tests += 1;
-                        println!("Both failed: actual: {:?} expected: {:?}", actual, expected);
+                        // println!("Both failed: actual: {:?} expected: {:?}", actual, expected);
                     }
                     Ok(_) => {
                         mismatched_tests += 1;
+                        println!("Fixed rate: {}", fixed_rate);
                         println!("MISMATCHED: actual: {:?} expected: {:?}", actual, expected);
+
+                        let rust_result = actual.unwrap().unwrap();
+                        let solidity_result = expected;
+                        println!("Rust: {:?} Solidity: {:?}", rust_result, solidity_result);
+
                         if lowest_rate_mismatch.is_none()
                             || fixed_rate < lowest_rate_mismatch.unwrap()
                         {
@@ -618,21 +624,21 @@ mod tests {
                     }
                 },
             };
-            let total_tests = both_pass_tests + both_fail_tests + mismatched_tests;
-            let failure_rate = mismatched_tests as f64 / total_tests as f64;
-            println!(
-                "Total tests: {} Both pass: {} Both fail: {} Mismatched: {} Failure rate: {}",
-                total_tests, both_pass_tests, both_fail_tests, mismatched_tests, failure_rate
-            );
-            println!(
-                "Fuzzed over fixed rate from {:?} to {:?}",
-                lowest_rate, highest_rate
-            );
-            println!(
-                "Mismatched  fixed rate from {:?} to {:?}",
-                lowest_rate_mismatch, highest_rate_mismatch
-            );
         }
+        let total_tests = both_pass_tests + both_fail_tests + mismatched_tests;
+        let failure_rate = mismatched_tests as f64 / total_tests as f64;
+        println!(
+            "Total tests: {} Both pass: {} Both fail: {} Mismatched: {} Failure rate: {}",
+            total_tests, both_pass_tests, both_fail_tests, mismatched_tests, failure_rate
+        );
+        println!(
+            "Fuzzed over fixed rate from {:?} to {:?}",
+            lowest_rate, highest_rate
+        );
+        println!(
+            "Mismatched  fixed rate from {:?} to {:?}",
+            lowest_rate_mismatch, highest_rate_mismatch
+        );
         Ok(())
     }