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Add EIP-4626 native price estimator#4243

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feat/eip4626-native-price
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Add EIP-4626 native price estimator#4243
kaze-cow wants to merge 14 commits intomainfrom
feat/eip4626-native-price

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@kaze-cow
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@kaze-cow kaze-cow commented Mar 9, 2026

Description

Adds a native price estimator for EIP-4626 vault tokens (e.g. sDAI, wrapped yield vaults).

Many vault tokens lack direct DEX liquidity, causing native price estimation to fail. This estimator unwraps the vault by querying the on-chain asset() and convertToAssets() functions, then delegates pricing of the underlying token to the next estimator in the stage.

Changes

  • New Eip4626 native price estimator (crates/price-estimation/src/native/eip4626.rs):
    calls asset() + decimals() in parallel, then convertToAssets(10^decimals) to compute the
    shares-to-assets conversion rate, and multiplies by the inner estimator's price for the
    underlying token.
  • Negative cache for non-vault tokens: tokens whose asset() call reverts are remembered in
    a Mutex<HashSet<Address>> so subsequent requests skip the RPC entirely. Cleared on process
    restart.
  • Timeout budget forwarding: each vault RPC call is individually bounded by
    tokio::time::timeout, and whatever time remains is forwarded to the inner estimator. This
    keeps the total wall-clock time within the caller's original timeout, which matters for
    recursive vault chains.
  • Configurable recursion depth: the Eip4626 config variant accepts a depth parameter
    (default: 1) controlling how many nested vault layers to unwrap. In the factory, depth layers
    of Eip4626 wrap the next estimator in the stage.
  • Config validation: NativePriceEstimators deserialization rejects stages where Eip4626 is
    the last entry (it must be followed by another estimator to price the underlying asset).
  • Contract bindings: added IERC4626 interface and MockERC4626Wrapper test contract for
    e2e tests.
  • Factory wiring (crates/price-estimation/src/factory.rs): create_native_estimator now
    consumes the next estimator from the stage iterator when it encounters Eip4626, wrapping it
    in depth layers of instrumented Eip4626 estimators.
  • Re-added config deserialization tests to crates/configs/src/native_price_estimators.rs
    that were lost during the extraction from price-estimation to configs.

How to test

  1. Unit tests: cargo nextest run -p price-estimation eip4626 and cargo nextest run -p configs native_price_estimators
  2. Live mainnet smoke test (requires NODE_URL): NODE_URL=... cargo nextest run -p price-estimation -- eip4626 --run-ignored ignored-only
  3. E2e forked tests (requires FORK_URL_MAINNET):
    • Single vault: cargo nextest run -p e2e forked_node_mainnet_eip4626_native_price --test-threads 1 --run-ignored ignored-only
    • Recursive vaults: cargo nextest run -p e2e forked_node_mainnet_eip4626_recursive_native_price --test-threads 1 --run-ignored ignored-only

Prices vault tokens by calling `asset()` to find the underlying token,
`convertToAssets(1e18)` to get the conversion rate, then delegating to
an inner estimator for the underlying token's native price.

Configurable as `Eip4626|<inner>`, e.g. `Eip4626|CoinGecko`.

Co-Authored-By: Claude Sonnet 4.6 <noreply@anthropic.com>
@kaze-cow kaze-cow requested a review from a team as a code owner March 9, 2026 15:06
@kaze-cow kaze-cow self-assigned this Mar 9, 2026
@kaze-cow kaze-cow marked this pull request as draft March 9, 2026 15:07
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Code Review

This pull request adds a native price estimator for EIP-4626 vault tokens. However, a potential Denial of Service (DoS) vulnerability was identified in the estimator factory. The use of the unreachable! macro when handling nested EIP-4626 estimators can lead to an application panic if a deeply nested configuration is provided from external strings, which could be exploited. A suggestion has been provided to replace the panic with a proper error return. Additionally, a critical logic error was found in the price calculation when vault tokens and underlying assets have different decimal counts, leading to incorrect pricing. The implementation's robustness could be enhanced by parallelizing contract calls and respecting timeouts, and a non-functional unit test was identified, which provides a false sense of coverage.

Comment on lines +38 to +52
let asset: Address = vault.asset().call().await.map_err(|e| {
PriceEstimationError::EstimatorInternal(anyhow::anyhow!(
"failed to call asset() on {token}: {e}"
))
})?;

// Use 1e18 shares as the reference amount. This works correctly for
// vaults with 18 decimals. For other decimals the rate is still a
// reasonable approximation since convertToAssets is linear.
let shares = uint!(1_000_000_000_000_000_000_U256);
let assets: U256 = vault.convertToAssets(shares).call().await.map_err(|e| {
PriceEstimationError::EstimatorInternal(anyhow::anyhow!(
"failed to call convertToAssets() on {token}: {e}"
))
})?;
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high

The two contract calls (asset() and convertToAssets()) are executed sequentially and do not respect the timeout parameter. This can lead to the estimation taking longer than expected or hanging indefinitely. You can improve this by running the calls in parallel and wrapping them in a tokio::time::timeout.

Note: you'll need to add use futures::future::join; at the top of the file.

use futures::future::join;

        let shares = uint!(1_000_000_000_000_000_000_U256);
        let (asset_result, assets_result) = tokio::time::timeout(
            timeout,
            join(
                vault.asset().call(),
                vault.convertToAssets(shares).call(),
            ),
        )
        .await
        .map_err(|_| {
            PriceEstimationError::EstimatorInternal(anyhow::anyhow!(
                "EIP-4626 contract calls timed out"
            ))
        })?;

        let asset: Address = asset_result.map_err(|e| {
            PriceEstimationError::EstimatorInternal(anyhow::anyhow!(
                "failed to call asset() on {token}: {e}"
            ))
        })?;

        let assets: U256 = assets_result.map_err(|e| {
            PriceEstimationError::EstimatorInternal(anyhow::anyhow!(
                "failed to call convertToAssets() on {token}: {e}"
            ))
        })?;

Comment on lines +94 to +99
async fn delegates_to_inner_on_error() {
let mut inner = MockNativePriceEstimating::new();
inner
.expect_estimate_native_price()
.returning(|_, _| async { Err(PriceEstimationError::NoLiquidity) }.boxed());
let _ = inner;
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high

This test is ineffective. It sets up a mock with an expectation but never uses it, so the test doesn't actually verify any behavior and will always pass. A correct test should instantiate an Eip4626 estimator with the mock and call estimate_native_price on it to verify that the error from the inner estimator is propagated. This will likely require mocking the provider calls as well.

(
name.clone(),
Arc::new(InstrumentedPriceEstimator::new(
native::Eip4626::new(inner, self.network.web3.provider.clone()),
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high

To address the decimal correction issue mentioned in eip4626.rs, you'll need to pass the TokenInfoFetching component here when creating the Eip4626 estimator.

                            native::Eip4626::new(inner, self.network.web3.provider.clone(), self.components.tokens.clone()),

Comment on lines +271 to +273
NativePriceEstimatorSource::Eip4626(_) => {
unreachable!("Eip4626 is handled before calling create_native_estimator")
}
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security-medium medium

The create_native_estimator function contains an unreachable! macro for the NativePriceEstimatorSource::Eip4626 variant. However, this variant is reachable if a nested EIP-4626 estimator is configured (e.g., Eip4626|Eip4626|CoinGecko). The NativePriceEstimator enum is recursive, and its FromStr implementation allows for arbitrary nesting. When native_price_estimator encounters an Eip4626 variant, it calls create_native_estimator with the inner estimator. If that inner estimator is also an Eip4626 variant, the application will panic, leading to a Denial of Service. It is recommended to return an error instead of panicking.

            NativePriceEstimatorSource::Eip4626(_) => anyhow::bail!(
                "Nested Eip4626 estimators are not supported; use Eip4626|<inner> \
                 is not Eip4626"
            ),

@jmg-duarte
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Uses inline alloy::sol! { #[sol(rpc)] } for the minimal IERC4626 interface (no generated artifact needed)

The generated artifacts are useful to avoid paying the compilation time and so we can Cmd+Click into their implementation

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This pull request has been marked as stale because it has been inactive a while. Please update this pull request or it will be automatically closed.

@github-actions github-actions bot added the stale label Mar 17, 2026
@kaze-cow
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The generated artifacts are useful to avoid paying the compilation time and so we can Cmd+Click into their implementation

What exactly is "their implementation"? The definition right there is technically the definition of the interface... inline. The implnementation of an EIP4626 contract does not exist in this repository and I suspect E2E tests against mainnet fork would be best overall here. Thoughts?

@github-actions github-actions bot removed the stale label Mar 18, 2026
- Change `Eip4626(Box<NativePriceEstimator>)` to `Eip4626` unit variant,
  eliminating recursive type that caused serde to hit the monomorphization
  recursion limit with `#[serde(tag = "type")]`.
- Eip4626 now wraps the next estimator in the config stage list at
  construction time instead of nesting inside the enum.
- Move Eip4626 handling into `create_native_estimator` by passing the
  stage iterator, removing the special-case in the caller.
- Add deserialization validation rejecting Eip4626 as last in a stage.
- Use vendored IERC4626 contract binding and query vault decimals for
  accurate conversion rate.
- Fund sDAI whale with ETH in e2e test to fix gas error.

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
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This pull request has been marked as stale because it has been inactive a while. Please update this pull request or it will be automatically closed.

@github-actions github-actions bot added the stale label Mar 27, 2026
@github-actions github-actions bot closed this Apr 3, 2026
@jmg-duarte jmg-duarte reopened this Apr 6, 2026
@jmg-duarte jmg-duarte removed the stale label Apr 6, 2026
@MartinquaXD
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@kaze-cow did you already verify that the token quote coverage will be an issue for those EIP 4626 tokens or is this currently an assumption that this will be needed? The change seems reasonable overall but would still be good to understand what prio this should get.

@kaze-cow
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kaze-cow commented Apr 8, 2026

did you already verify that the token quote coverage will be an issue for those EIP 4626 tokens or is this currently an assumption that this will be needed?

Just to give an idea right now on staging we need to add a manual override for the token in order for it to be supported, despite having 3 solvers quoting/solving euler orders. So while I am not well aware of the details, this type of change does appear to be needed, and in any case, is likely to come in handy in improving our native token pricing coverage.

jmg-duarte and others added 12 commits April 9, 2026 16:48
Introduces a new native price estimator that prices EIP-4626 vault
tokens by querying the vault's underlying asset and conversion rate,
then delegating to an inner estimator for the underlying token's price.
Includes IERC4626 contract bindings and resolves merge conflicts with
the contracts crate refactor.

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
Remove duplicate type definitions from price-estimation/src/lib.rs that
conflicted with the canonical definitions in the configs crate. Add the
Eip4626 validation (must not be last in a stage) to the configs crate
deserializer. Fix e2e test imports to use configs crate paths and correct
start_protocol_with_args signature. Change recursive vault test to query
native price directly instead of submitting a quote, since the freshly
deployed mock wrapper has no DEX liquidity.

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
…e-price

# Conflicts:
#	crates/configs/src/native_price_estimators.rs
#	crates/e2e/tests/e2e/eip4626.rs
- Add negative cache (Mutex<HashSet>) for non-vault tokens to avoid
  wasted RPC calls on every estimation cycle
- Enforce timeout on vault RPC calls via tokio::time::timeout so a stuck
  node cannot block the pipeline indefinitely
- Forward remaining time budget to the inner estimator for correct
  deadline propagation through recursive chains
- Change Eip4626 config from unit variant to Eip4626 { depth: NonZeroU8 }
  so recursive depth is declared once instead of repeating the variant
- Extract conversion_rate() for readability

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
…ding

- Add `MintableToken::at` constructor to wrap ABI-compatible contracts
  (e.g. MockERC4626Wrapper) as MintableToken for use with
  `seed_uni_v2_pool`
- Split native price estimator config into two stages with
  results_required=1 so the EIP-4626 chain has priority over the
  standalone driver fallback
- Seed Uniswap V2 pools for recursive wrapper tokens so the solver can
  find routes, enabling full quote submission
- Verify native price ratios between wrappers match their vault
  conversion rates

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
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3 participants