tests: core functionality

contracts/tokenbridge/libraries/vault/MasterVault.sol

@@ -63,6 +63,7 @@ contract MasterVault is Initializable, ERC4626Upgradeable, AccessControlUpgradea
     event SubvaultChanged(address indexed oldSubvault, address indexed newSubvault);
     event PerformanceFeeToggled(bool enabled);
     event BeneficiaryUpdated(address indexed oldBeneficiary, address indexed newBeneficiary);
+    event PerformanceFeesWithdrawn(address indexed beneficiary, uint256 amount);
 
     function initialize(IERC20 _asset, string memory _name, string memory _symbol, address _owner) external initializer {
         if (address(_asset) == address(0)) revert InvalidAsset();
@@ -79,15 +80,26 @@ contract MasterVault is Initializable, ERC4626Upgradeable, AccessControlUpgradea
         _grantRole(DEFAULT_ADMIN_ROLE, _owner);
         _grantRole(VAULT_MANAGER_ROLE, _owner);
         _grantRole(PAUSER_ROLE, _owner);
+
+        _pause(); 
     }
 
     function distributePerformanceFee() external whenNotPaused {
         if (!enablePerformanceFee) revert PerformanceFeeDisabled();
         if (beneficiary == address(0)) {
             revert BeneficiaryNotSet();
         }
-        subVault.redeem(totalProfitInSubVaultShares(MathUpgradeable.Rounding.Down), beneficiary, address(this));
-        // todo emit event
+
+        uint256 profit = totalProfit(MathUpgradeable.Rounding.Down);
+        if (profit == 0) return;
+
+        if (address(subVault) != address(0)) {
+            subVault.redeem(totalProfitInSubVaultShares(MathUpgradeable.Rounding.Down), beneficiary, address(this));
+        } else {
+            IERC20(asset()).safeTransfer(beneficiary, profit);
+        }
+
+        emit PerformanceFeesWithdrawn(beneficiary, profit);
     }
 
     /// @notice Set a subvault. Can only be called if there is not already a subvault set.
@@ -103,8 +115,11 @@ contract MasterVault is Initializable, ERC4626Upgradeable, AccessControlUpgradea
         IERC20(asset()).safeApprove(address(_subVault), type(uint256).max);
         _subVault.deposit(underlyingAsset.balanceOf(address(this)), address(this));
 
-        uint256 subVaultExchRateWad = _subVault.balanceOf(address(this)).mulDiv(1e18, totalSupply(), MathUpgradeable.Rounding.Down);
-        if (subVaultExchRateWad < minSubVaultExchRateWad) revert NewSubVaultExchangeRateTooLow();
+        uint256 supply = totalSupply();
+        if (supply > 0) {
+            uint256 subVaultExchRateWad = _subVault.balanceOf(address(this)).mulDiv(1e18, supply, MathUpgradeable.Rounding.Down);
+            if (subVaultExchRateWad < minSubVaultExchRateWad) revert NewSubVaultExchangeRateTooLow();
+        }
 
         emit SubvaultChanged(address(0), address(_subVault));
     }
@@ -120,8 +135,11 @@ contract MasterVault is Initializable, ERC4626Upgradeable, AccessControlUpgradea
         oldSubVault.redeem(oldSubVault.balanceOf(address(this)), address(this), address(this));
         IERC20(asset()).safeApprove(address(oldSubVault), 0);
 
-        uint256 assetExchRateWad = IERC20(asset()).balanceOf(address(this)).mulDiv(1e18, totalSupply(), MathUpgradeable.Rounding.Down);
-        if (assetExchRateWad < minAssetExchRateWad) revert SubVaultExchangeRateTooLow();
+        uint256 supply = totalSupply();
+        if (supply > 0) {
+            uint256 assetExchRateWad = IERC20(asset()).balanceOf(address(this)).mulDiv(1e18, supply, MathUpgradeable.Rounding.Down);
+            if (assetExchRateWad < minAssetExchRateWad) revert SubVaultExchangeRateTooLow();
+        }
 
         emit SubvaultChanged(address(oldSubVault), address(0));
     }
@@ -253,9 +271,16 @@ contract MasterVault is Initializable, ERC4626Upgradeable, AccessControlUpgradea
      * would represent an infinite amount of shares.
      */
     function _convertToShares(uint256 assets, MathUpgradeable.Rounding rounding) internal view virtual override returns (uint256 shares) {
+        uint256 supply = totalSupply();
+
         if (address(subVault) == address(0)) {
             uint256 effectiveTotalAssets = enablePerformanceFee ? _min(totalAssets(), totalPrincipal) : totalAssets();
-            return totalSupply().mulDiv(assets, effectiveTotalAssets, rounding);
+
+            if (supply == 0 || effectiveTotalAssets == 0) {
+                return assets;  
+            }
+
+            return supply.mulDiv(assets, effectiveTotalAssets, rounding);
         }
 
         uint256 totalSubShares = subVault.balanceOf(address(this));
@@ -265,20 +290,30 @@ contract MasterVault is Initializable, ERC4626Upgradeable, AccessControlUpgradea
             // and we are subtracting profit from it, we should use the same rounding direction for profit
             totalSubShares -= totalProfitInSubVaultShares(_flipRounding(rounding));
         }
-        
+
         uint256 subShares = _assetsToSubVaultShares(assets, rounding);
 
-        return totalSupply().mulDiv(subShares, totalSubShares, rounding);
+        if (supply == 0 || totalSubShares == 0) {
+            return subShares;  
+        }
+
+        return supply.mulDiv(subShares, totalSubShares, rounding);
     }
 
     /**
      * @dev Internal conversion function (from shares to assets) with support for rounding direction.
      */
     function _convertToAssets(uint256 shares, MathUpgradeable.Rounding rounding) internal view virtual override returns (uint256 assets) {
+        uint256 _totalSupply = totalSupply();
+
+        if(_totalSupply == 0) {
+            return shares;
+        }
+
         // if we have no subvault, we just do normal pro-rata calculation
         if (address(subVault) == address(0)) {
             uint256 effectiveTotalAssets = enablePerformanceFee ? _min(totalAssets(), totalPrincipal) : totalAssets();
-            return effectiveTotalAssets.mulDiv(shares, totalSupply(), rounding);
+            return effectiveTotalAssets.mulDiv(shares, _totalSupply, rounding);
         }
 
         uint256 totalSubShares = subVault.balanceOf(address(this));
@@ -290,7 +325,7 @@ contract MasterVault is Initializable, ERC4626Upgradeable, AccessControlUpgradea
         }
 
         // totalSubShares * shares / totalMasterShares
-        uint256 subShares = totalSubShares.mulDiv(shares, totalSupply(), rounding);
+        uint256 subShares = totalSubShares.mulDiv(shares, _totalSupply, rounding);
 
         return _subVaultSharesToAssets(subShares, rounding);
     }

contracts/tokenbridge/test/MockSubVault.sol

@@ -15,4 +15,8 @@ contract MockSubVault is ERC4626 {
     function totalAssets() public view override returns (uint256) {
         return IERC20(asset()).balanceOf(address(this));
     }
+
+    function adminMint(address to, uint256 amount) external {
+        _mint(to, amount);
+    }
 }

contracts/tokenbridge/test/TestERC20.sol

@@ -28,6 +28,10 @@ contract TestERC20 is aeERC20 {
     function mint() external {
         _mint(msg.sender, 50000000);
     }
+
+    function mint(uint256 amount) external {
+        _mint(msg.sender, amount);
+    }
 }
 
 // test token code inspired from maker