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import { expect , test } from '@playwright/test' ;
import { Wallet } from 'ethers' ;
import { createWalletContext } from '../../setup/wallet-provider' ;
import { getStackConfig , validateStackHealthy } from '../../setup/stack' ;
import {
createReport ,
connectWallet ,
mintEth ,
buyKrk ,
takeScreenshot ,
logObservation ,
logCopyFeedback ,
logTokenomicsQuestion ,
recordPageVisit ,
recordAction ,
writeReport ,
attemptStake ,
resetChainState ,
} from './helpers' ;
// Priya uses Anvil account #4
const ACCOUNT_PRIVATE_KEY = '0x47e179ec197488593b187f80a00eb0da91f1b9d0b13f8733639f19c30a34926a' ;
const ACCOUNT_ADDRESS = new Wallet ( ACCOUNT_PRIVATE_KEY ) . address . toLowerCase ( ) ;
const STACK_CONFIG = getStackConfig ( ) ;
const STACK_RPC_URL = STACK_CONFIG . rpcUrl ;
const STACK_WEBAPP_URL = STACK_CONFIG . webAppUrl ;
test . describe ( 'Dr. Priya Malhotra - Institutional/Analytical Investor' , ( ) = > {
test . beforeAll ( async ( ) = > {
await resetChainState ( STACK_RPC_URL ) ;
await validateStackHealthy ( STACK_CONFIG ) ;
} ) ;
test ( 'Priya analyzes Kraiken with academic rigor' , async ( { browser } ) = > {
const report = createReport ( 'Dr. Priya Malhotra' ) ;
const personaName = 'Priya' ;
console . log ( ` [ ${ personaName } ] Starting test - Institutional investor evaluating mechanism design... ` ) ;
const context = await createWalletContext ( browser , {
privateKey : ACCOUNT_PRIVATE_KEY ,
rpcUrl : STACK_RPC_URL ,
} ) ;
const page = await context . newPage ( ) ;
page . on ( 'console' , msg = > console . log ( ` [BROWSER] ${ msg . type ( ) } : ${ msg . text ( ) } ` ) ) ;
page . on ( 'pageerror' , error = > console . log ( ` [BROWSER ERROR] ${ error . message } ` ) ) ;
try {
// --- Landing Page (Critical Analysis) ---
let pageStart = Date . now ( ) ;
await page . goto ( ` ${ STACK_WEBAPP_URL } /app/ ` , { waitUntil : 'domcontentloaded' } ) ;
await page . waitForTimeout ( 2 _000 ) ;
await takeScreenshot ( page , personaName , 'landing-page' , report ) ;
logObservation ( personaName , 'Initial assessment: Clean UI, but need to verify claims about mechanism design' , report ) ;
logTokenomicsQuestion ( personaName , 'What is the theoretical Nash equilibrium for tax rates in this Harberger tax system?' , report ) ;
recordPageVisit ( 'Landing' , page . url ( ) , pageStart , report ) ;
// --- Look for Technical Documentation ---
logObservation ( personaName , 'Searching for whitepaper, technical appendix, or formal specification...' , report ) ;
const docsLink = await page . getByText ( /docs|documentation|whitepaper|technical/i ) . isVisible ( ) . catch ( ( ) = > false ) ;
if ( ! docsLink ) {
logCopyFeedback ( personaName , 'No visible link to technical documentation. For institutional investors, this is essential.' , report ) ;
logObservation ( personaName , 'Would normally review GitHub repository and TECHNICAL_APPENDIX.md before proceeding' , report ) ;
}
await takeScreenshot ( page , personaName , 'searching-for-docs' , report ) ;
// --- Look for Audit Reports ---
const auditLink = await page . getByText ( /audit/i ) . isVisible ( ) . catch ( ( ) = > false ) ;
if ( ! auditLink ) {
logCopyFeedback ( personaName , 'No audit report link visible. Institutional capital requires multi-firm audits at minimum.' , report ) ;
logTokenomicsQuestion ( personaName , 'Has this undergone formal verification? Any peer-reviewed analysis of the mechanism?' , report ) ;
} else {
logObservation ( personaName , 'Audit link found - would review full report before committing capital' , report ) ;
}
// --- Check for Governance Information ---
logObservation ( personaName , 'Looking for governance structure, DAO participation, or admin key disclosures...' , report ) ;
const governanceLink = await page . getByText ( /governance|dao/i ) . isVisible ( ) . catch ( ( ) = > false ) ;
if ( ! governanceLink ) {
logTokenomicsQuestion ( personaName , 'What are the centralization risks? Who holds admin keys? Is there a timelock?' , report ) ;
}
// --- Connect Wallet ---
pageStart = Date . now ( ) ;
await connectWallet ( page ) ;
await takeScreenshot ( page , personaName , 'wallet-connected' , report ) ;
recordAction ( 'Connect wallet' , true , undefined , report ) ;
logObservation ( personaName , 'Wallet connected. Proceeding with empirical testing of mechanism claims.' , report ) ;
// --- Examine Stake Page Statistics ---
pageStart = Date . now ( ) ;
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await page . goto ( ` ${ STACK_WEBAPP_URL } /app/stake ` ) ;
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await page . waitForTimeout ( 3 _000 ) ;
recordPageVisit ( 'Stake (analysis)' , page . url ( ) , pageStart , report ) ;
await takeScreenshot ( page , personaName , 'stake-dashboard' , report ) ;
logObservation ( personaName , 'Analyzing statistics: Average tax rate, claimed slots, inflation metrics' , report ) ;
logTokenomicsQuestion ( personaName , 'Is the 7-day inflation rate sustainable long-term? What\'s the terminal supply?' , report ) ;
// --- Examine Three-Position Liquidity Claim ---
pageStart = Date . now ( ) ;
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await page . goto ( ` ${ STACK_WEBAPP_URL } /app/cheats ` ) ;
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await page . waitForTimeout ( 2 _000 ) ;
recordPageVisit ( 'Cheats (liquidity analysis)' , page . url ( ) , pageStart , report ) ;
await takeScreenshot ( page , personaName , 'liquidity-snapshot' , report ) ;
logObservation ( personaName , 'Examining liquidity snapshot to verify three-position VWAP defense mechanism' , report ) ;
const liquidityTableVisible = await page . locator ( '.liquidity-table' ) . isVisible ( ) . catch ( ( ) = > false ) ;
if ( liquidityTableVisible ) {
logObservation ( personaName , 'Liquidity table visible - analyzing Floor/Anchor/Discovery positions' , report ) ;
logTokenomicsQuestion ( personaName , 'What prevents a sophisticated attacker from manipulating VWAP across multiple blocks?' , report ) ;
logTokenomicsQuestion ( personaName , 'Are the OptimizerV3 parameters (binary switch) based on theoretical modeling or empirical fuzzing?' , report ) ;
} else {
logCopyFeedback ( personaName , 'Liquidity metrics not easily accessible - institutional investors need transparency' , report ) ;
}
// --- Test Buy Depth Calculation ---
logObservation ( personaName , 'Reviewing buy depth to discovery edge - critical for large position entry' , report ) ;
const buyDepthVisible = await page . getByText ( /buy depth/i ) . isVisible ( ) . catch ( ( ) = > false ) ;
if ( buyDepthVisible ) {
logTokenomicsQuestion ( personaName , 'What is the maximum position size before significant slippage? Need liquidity depth analysis.' , report ) ;
}
// --- Mint ETH for Testing ---
await mintEth ( page , STACK_RPC_URL , ACCOUNT_ADDRESS , '100' ) ;
recordAction ( 'Mint 100 ETH' , true , undefined , report ) ;
logObservation ( personaName , 'Allocated test capital for mechanism verification' , report ) ;
// --- Test Significant Swap Size ---
logObservation ( personaName , 'Testing swap with institutional-size allocation to measure slippage' , report ) ;
try {
await buyKrk ( page , '10.0' ) ;
recordAction ( 'Buy KRK with 5.0 ETH (institutional test)' , true , undefined , report ) ;
await takeScreenshot ( page , personaName , 'large-swap-complete' , report ) ;
logTokenomicsQuestion ( personaName , 'Actual slippage on 5 ETH buy vs theoretical calculation - does three-position model hold?' , report ) ;
} catch ( error : any ) {
logObservation ( personaName , ` Large swap failed: ${ error . message } . Liquidity depth insufficient for institutional size. ` , report ) ;
recordAction ( 'Buy KRK with 5.0 ETH' , false , error . message , report ) ;
}
await page . waitForTimeout ( 3 _000 ) ;
// --- Navigate to Stake for Optimal Tax Rate Analysis ---
pageStart = Date . now ( ) ;
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await page . goto ( ` ${ STACK_WEBAPP_URL } /app/stake ` ) ;
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await page . waitForTimeout ( 2 _000 ) ;
recordPageVisit ( 'Stake (optimization)' , page . url ( ) , pageStart , report ) ;
await takeScreenshot ( page , personaName , 'stake-form-analysis' , report ) ;
logObservation ( personaName , 'Analyzing tax rate options to determine optimal strategy based on game theory' , report ) ;
logTokenomicsQuestion ( personaName , 'Given current average tax rate, what is the rational choice for a large staker?' , report ) ;
logTokenomicsQuestion ( personaName , 'Does higher tax rate create sustainable moat or just reduce yield unnecessarily?' , report ) ;
// --- Review Tax Rate Distribution ---
const activePositionsSection = page . locator ( '.active-positions-wrapper' ) ;
const positionsVisible = await activePositionsSection . isVisible ( ) . catch ( ( ) = > false ) ;
if ( positionsVisible ) {
logObservation ( personaName , 'Examining distribution of active positions to identify equilibrium patterns' , report ) ;
logTokenomicsQuestion ( personaName , 'Are tax rates clustering around specific values? Suggests Nash equilibrium convergence.' , report ) ;
}
// --- Test Optimal Stake ---
logObservation ( personaName , 'Executing stake at calculated optimal tax rate (12% based on current average)' , report ) ;
try {
await attemptStake ( page , '500' , '12' , personaName , report ) ;
await takeScreenshot ( page , personaName , 'institutional-stake-success' , report ) ;
logObservation ( personaName , 'Stake executed successfully. Position size represents test allocation only.' , report ) ;
recordAction ( 'Stake 500 KRK at 12% tax (optimal)' , true , undefined , report ) ;
} catch ( error : any ) {
logObservation ( personaName , ` Stake failed: ${ error . message } . Technical implementation issues detected. ` , report ) ;
logCopyFeedback ( personaName , 'Error handling needs improvement for production use' , report ) ;
recordAction ( 'Stake 500 KRK at 12% tax' , false , error . message , report ) ;
}
await page . waitForTimeout ( 3 _000 ) ;
// --- Review Position Management Interface ---
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await page . goto ( ` ${ STACK_WEBAPP_URL } /app/stake ` ) ;
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await page . waitForTimeout ( 2 _000 ) ;
await takeScreenshot ( page , personaName , 'position-management' , report ) ;
logObservation ( personaName , 'Evaluating position management interface for institutional needs' , report ) ;
logCopyFeedback ( personaName , 'Need detailed position analytics: time-weighted APY, tax collected vs paid, snatch vulnerability score' , report ) ;
logTokenomicsQuestion ( personaName , 'What is the exit liquidity for large positions? Can I unstake without significant slippage?' , report ) ;
// --- Risk Assessment ---
logObservation ( personaName , 'Conducting risk assessment: smart contract risk, liquidity risk, mechanism design risk' , report ) ;
logTokenomicsQuestion ( personaName , 'What is the worst-case scenario for a position holder? Need stress test data.' , report ) ;
logCopyFeedback ( personaName , 'Risk disclosure section needed: clearly state protocol assumptions and failure modes' , report ) ;
// --- Composability Analysis ---
logObservation ( personaName , 'Evaluating potential for integration with other DeFi protocols' , report ) ;
logTokenomicsQuestion ( personaName , 'Can staked positions be tokenized for use in lending markets? Any ERC-721 wrapper planned?' , report ) ;
logTokenomicsQuestion ( personaName , 'How does this integrate with broader Base ecosystem? Cross-protocol synergies?' , report ) ;
// --- Final Assessment ---
await page . waitForTimeout ( 2 _000 ) ;
await takeScreenshot ( page , personaName , 'final-analysis' , report ) ;
report . overallSentiment = 'Intellectually intriguing mechanism with sound theoretical basis, but several concerns for institutional deployment. STRENGTHS: Novel Harberger tax application, three-position liquidity defense shows theoretical sophistication, clean UI suggests professional team. CONCERNS: (1) OptimizerV3 binary switch lacks rigorous justification in visible documentation - appears empirically tuned rather than theoretically derived. (2) Insufficient liquidity depth for meaningful institutional positions (>$100k). (3) No formal verification or multi-firm audit visible. (4) Centralization risks not disclosed. (5) Long-term sustainability of inflation model unclear. VERDICT: Would allocate $50-100k for 3-6 month observation period to gather empirical data on Nash equilibrium convergence and three-position VWAP defense under real market conditions. Full institutional allocation ($500k+) would require: formal verification, multi-firm audits, governance transparency, liquidity depth >$5M, and 6-12 months of battle-testing. Recommendation for team: Publish academic paper on mechanism design, get formal verification, increase transparency around parameter selection, create institutional-grade documentation. This could be a flagship DeFi primitive if executed with full rigor.' ;
logObservation ( personaName , report . overallSentiment , report ) ;
} finally {
writeReport ( 'dr-priya-malhotra' , report ) ;
await context . close ( ) ;
}
} ) ;
} ) ;