Update exchangeRate to be expressed in PPM

apps/presale/contracts/Presale.sol

@@ -87,7 +87,7 @@ contract Presale is EtherTokenConstant, IsContract, AragonApp {
      * @param _contributionToken        The address of the token to be used to contribute
      * @param _goal                     The goal to be reached by the end of that presale [in contribution token wei]
      * @param _period                   The period within which to accept contribution for that presale
-     * @param _exchangeRate             The exchangeRate [= 1/price] at which [bonded] tokens are to be purchased for that presale
+     * @param _exchangeRate             The exchangeRate [= 1/price] at which [bonded] tokens are to be purchased for that presale [in PPM]
      * @param _vestingCliffPeriod       The period during which purchased [bonded] tokens are to be cliffed
      * @param _vestingCompletePeriod    The complete period during which purchased [bonded] tokens are to be vested
      * @param _supplyOfferedPct         The percentage of the initial supply of [bonded] tokens to be offered during that presale [in PPM]
@@ -199,7 +199,7 @@ contract Presale is EtherTokenConstant, IsContract, AragonApp {
      * @param _value The amount of contribution tokens to be used in that computation
     */
     function contributionToTokens(uint256 _value) public view isInitialized returns (uint256) {
-        return _value.mul(exchangeRate);
+        return _value.mul(exchangeRate).div(PPM);
     }
 
     /**

apps/presale/test/Contribute.test.js

@@ -126,30 +126,21 @@ contract('Presale, contribute() functionality', ([anyone, appManager, buyer1, bu
         })
 
         it('Keeps track of independent purchases', async () => {
-          (await this.presale.contributions(buyer1, 0)).should.be.bignumber.equal(contributionAmount)
+          ;(await this.presale.contributions(buyer1, 0)).should.be.bignumber.equal(contributionAmount)
           expect((await this.presale.contributions(buyer2, 0)).toNumber()).to.equal(1)
           expect((await this.presale.contributions(buyer2, 1)).toNumber()).to.equal(2)
           expect((await this.presale.contributions(buyer2, 2)).toNumber()).to.equal(3)
         })
 
         if (!useETH) {
-          it('Reverts when sending ETH in a contribution that\'s supposed to use ERC20 tokens', async () => {
-            await assertRevert(
-              contribute(buyer1, '10e18', true),
-              'PRESALE_INCORRECT_ETH_VALUE'
-            )
+          it("Reverts when sending ETH in a contribution that's supposed to use ERC20 tokens", async () => {
+            await assertRevert(contribute(buyer1, '10e18', true), 'PRESALE_INCORRECT_ETH_VALUE')
           })
         } else {
           it('Reverts if the ETH amount sent does not match the specified amount', async () => {
             const amount = 2
-            await assertRevert(
-              this.presale.contribute(buyer1, amount, { value: amount - 1 }),
-              'PRESALE_INCORRECT_ETH_VALUE'
-            )
-            await assertRevert(
-              this.presale.contribute(buyer1, amount, { value: amount + 1 }),
-              'PRESALE_INCORRECT_ETH_VALUE'
-            )
+            await assertRevert(this.presale.contribute(buyer1, amount, { value: amount - 1 }), 'PRESALE_INCORRECT_ETH_VALUE')
+            await assertRevert(this.presale.contribute(buyer1, amount, { value: amount + 1 }), 'PRESALE_INCORRECT_ETH_VALUE')
           })
         }
 

apps/presale/test/Refund.test.js

@@ -50,9 +50,9 @@ contract('Presale, refund() functionality', ([anyone, appManager, buyer1, buyer2
         expect((await this.contributionToken.balanceOf(buyer2)).toNumber()).to.equal(0)
         expect((await this.contributionToken.balanceOf(buyer3)).toNumber()).to.equal(BUYER_BALANCE / 2)
 
-        expect((await this.projectToken.balanceOf(buyer1)).toNumber()).to.equal(contributionToProjectTokens(BUYER_BALANCE).toNumber())
-        expect((await this.projectToken.balanceOf(buyer2)).toNumber()).to.equal(contributionToProjectTokens(BUYER_BALANCE).toNumber())
-        expect((await this.projectToken.balanceOf(buyer3)).toNumber()).to.equal(contributionToProjectTokens(BUYER_BALANCE / 2).toNumber())
+        expect((await this.projectToken.balanceOf(buyer1)).toNumber()).to.equal(contributionToProjectTokens(BUYER_BALANCE))
+        expect((await this.projectToken.balanceOf(buyer2)).toNumber()).to.equal(contributionToProjectTokens(BUYER_BALANCE))
+        expect((await this.projectToken.balanceOf(buyer3)).toNumber()).to.equal(contributionToProjectTokens(BUYER_BALANCE / 2))
       })
 
       it('Allows a buyer who made a single purchase to get refunded', async () => {
@@ -74,7 +74,7 @@ contract('Presale, refund() functionality', ([anyone, appManager, buyer1, buyer2
         expect(event).to.exist
         expect(event.args.contributor).to.equal(buyer5)
         expect(event.args.value.toNumber()).to.equal(1)
-        expect(event.args.amount.toNumber()).to.equal(expectedAmount.toNumber())
+        expect(event.args.amount.toNumber()).to.equal(expectedAmount)
         expect(event.args.vestedPurchaseId.toNumber()).to.equal(0)
       })
 

apps/presale/test/Vesting.test.js

@@ -34,7 +34,7 @@ contract('Presale, vesting functionality', ([anyone, appManager, buyer]) => {
 
       it('Token manager registers the correct vested amount', async () => {
         const expectedAmount = contributionToProjectTokens(BUYER_BALANCE)
-        expect(vestedAmount.toNumber()).to.equal(expectedAmount.toNumber())
+        expect(vestedAmount.toNumber()).to.equal(expectedAmount)
       })
 
       it('Token manager registers the correct vesting start date', async () => {

apps/presale/test/common/utils.js

@@ -4,7 +4,13 @@ const utils = {
   getEvent: (tx, eventName) => tx.logs.filter(log => log.event.includes(eventName))[0],
 
   contributionToProjectTokens: value => {
-    return web3.toBigNumber(value).mul(utils.tokenExchangeRate())
+    return Math.floor(
+      web3
+        .toBigNumber(value)
+        .mul(utils.tokenExchangeRate())
+        .div(PPM)
+        .toNumber()
+    )
   },
 
   now: () => {

shared/test-helpers/constants.js

@@ -25,7 +25,7 @@ const PRESALE_STATE = {
 }
 const PRESALE_GOAL = '20000e18'
 const PRESALE_PERIOD = 14 * DAYS
-const PRESALE_EXCHANGE_RATE = 1
+const PRESALE_EXCHANGE_RATE = 1 * PPM
 const VESTING_CLIFF_PERIOD = 90 * DAYS
 const VESTING_COMPLETE_PERIOD = 360 * DAYS
 const PERCENT_SUPPLY_OFFERED = 0.9 * PPM // 90%

templates/multisig/README.md

@@ -87,7 +87,7 @@ template.installFundraisingApps(
 
 - **goal** The presale goal
 - **period** The presale period
-- **exchangeRate** The presale exchange rate
+- **exchangeRate** The presale exchange rate [in PPM]
 - **vestingCliffPeriod** The cliff period for vested shares purchased during presale
 - **vestingCompletePeriod** The complete period for vested shares purchased during presale
 - **supplyOfferedPct** The percentage of the initial token supply offered to presale's contributors