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(); await page.goto(`${STACK_WEBAPP_URL}/app/stake`); await page.waitForTimeout(3_000); recordPageVisit('Stake (analysis)', page.url(), pageStart, report); await takeScreenshot(page, personaName, 'stake-dashboard', report); logObservation(personaName, 'Analyzing statistics: Average tax rate, claimed slots, inflation metrics', report); logTokenomicsQuestion(personaName, 'Is the 7-day inflation rate sustainable long-term? What\'s the terminal supply?', report); // --- Examine Three-Position Liquidity Claim --- pageStart = Date.now(); await page.goto(`${STACK_WEBAPP_URL}/app/cheats`); 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: ${error.message}. Liquidity depth insufficient for institutional size.`, report); recordAction('Buy KRK with 5.0 ETH', false, error.message, report); } await page.waitForTimeout(3_000); // --- Navigate to Stake for Optimal Tax Rate Analysis --- pageStart = Date.now(); await page.goto(`${STACK_WEBAPP_URL}/app/stake`); 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: ${error.message}. Technical implementation issues detected.`, report); logCopyFeedback(personaName, 'Error handling needs improvement for production use', report); recordAction('Stake 500 KRK at 12% tax', false, error.message, report); } await page.waitForTimeout(3_000); // --- Review Position Management Interface --- await page.goto(`${STACK_WEBAPP_URL}/app/stake`); 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(); } }); });