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ERC-TBA: Credit-Matched Liquidity

Дата публикации: 26-10-2026 17:40:26

@Zealynx Thanks, that one is right, and the fix is the one you describe (erc-credit-matched-liquidity@b24330a, and the PR, ethereum/ERCs#2109).
_handOver now transfers the position token to the holder when the quote it collected equals owed, and to lenderFallback() only on a shortfall. The priced unwind already did this, since a quote that covers owed leaves no base for the lender to take; the hand-over was the one path that gave the lender the holder’s part with nothing left to cover. The status stays HandedOver and the event PositionHandedOver, with outstanding at zero, so a reader still sees that no price was used, and an outstanding above zero now also means the lender holds the token. The Hand-over section says where the token goes, and that where it goes may not depend on a price.
test_handover_quoteCoversOwed_theHolderKeepsThePositionToken is your case: the pool trades up to 300 before the feed goes silent, the position holds 27,386.13 quote, and at the hand-over the lender takes 25,250 and the holder gets the token with 91.287 base and 2,136.13 quote in it. test_handover_terminal_quoteCoversOwed_unlessThePoolIsPushedDown does the same a day after a terminal status, then pushes the pool back to 250 before a second position’s hand-over: the quote falls about 250 short and the lender gets the token whole. Both fail on 2a60031, where the token went to the fallback address; 67 tests in all.
On the trade-off I agree with your reading, and it is now next to the pool-price line in Security Considerations: at a hand-over the pool’s price decides whether the quote covers owed, so a lender that pushes it down before calling unwind can take the whole position, as any hand-over that falls short does, but only once a hand-over is due, and a holder that wants to be sure of its part closes before then, which needs no price. The Rationale sentence saying that moving the pool before a hand-over gains nobody anything is gone, since it no longer holds.

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