diff --git a/Dockerfile b/Dockerfile
index 251a55f8a..7e30b897a 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -16,8 +16,8 @@ COPY ./test/ ./test/
 COPY ./foundry.toml ./foundry.toml
 
 # Copy the script used to run the migrations and set its permissions.
-COPY ./run_migrations.sh ./run_migrations.sh
-RUN chmod a+x ./run_migrations.sh
+COPY ./migrate.sh ./migrate.sh
+RUN chmod a+x ./migrate.sh
 
 # Install the dependencies and compile the contracts.
 RUN forge install && forge build
@@ -33,6 +33,6 @@ ENV RPC_URL=http://localhost:8545
 # the post-migrations state.
 RUN anvil --dump-state ./data & \
     ANVIL="$!" && \ 
-    ./run_migrations.sh && \
+    ./migrate.sh && \
     kill $ANVIL && \
     sleep 1s # HACK(jalextowle): Ensure that "./data" is written before exiting.
diff --git a/contracts/test/MockERC4626.sol b/contracts/test/MockERC4626.sol
new file mode 100644
index 000000000..e6f1967f7
--- /dev/null
+++ b/contracts/test/MockERC4626.sol
@@ -0,0 +1,98 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.19;
+
+import { ERC20 } from "solmate/tokens/ERC20.sol";
+import { ERC4626 } from "solmate/mixins/ERC4626.sol";
+import { FixedPointMath } from "../src/libraries/FixedPointMath.sol";
+import { ERC20Mintable } from "./ERC20Mintable.sol";
+
+/// @author DELV
+/// @title MockERC4626
+/// @notice This mock yield source will accrue interest at a specified rate
+///         Every stateful interaction will accrue interest, so the interest
+///         accrual will approximate continuous compounding as the contract
+///         is called more frequently.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+contract MockERC4626 is ERC4626 {
+    using FixedPointMath for uint256;
+
+    uint256 internal _rate;
+    uint256 internal _lastUpdated;
+
+    constructor(
+        ERC20Mintable _asset,
+        string memory _name,
+        string memory _symbol,
+        uint256 _initialRate
+    ) ERC4626(ERC20(address(_asset)), _name, _symbol) {
+        _rate = _initialRate;
+        _lastUpdated = block.timestamp;
+    }
+
+    /// Overrides ///
+
+    function deposit(
+        uint256 _assets,
+        address _receiver
+    ) public override returns (uint256) {
+        _accrue();
+        return super.deposit(_assets, _receiver);
+    }
+
+    function mint(
+        uint256 _shares,
+        address _receiver
+    ) public override returns (uint256) {
+        _accrue();
+        return super.mint(_shares, _receiver);
+    }
+
+    function withdraw(
+        uint256 _assets,
+        address _receiver,
+        address _owner
+    ) public override returns (uint256) {
+        _accrue();
+        return super.withdraw(_assets, _receiver, _owner);
+    }
+
+    function redeem(
+        uint256 _shares,
+        address _receiver,
+        address _owner
+    ) public override returns (uint256) {
+        _accrue();
+        return super.redeem(_shares, _receiver, _owner);
+    }
+
+    function totalAssets() public view override returns (uint256) {
+        return asset.balanceOf(address(this)) + _getAccruedInterest();
+    }
+
+    /// Mock ///
+
+    function setRate(uint256 _rate_) external {
+        _accrue();
+        _rate = _rate_;
+    }
+
+    function getRate() external view returns (uint256) {
+        return _rate;
+    }
+
+    function _accrue() internal {
+        ERC20Mintable(address(asset)).mint(_getAccruedInterest());
+        _lastUpdated = block.timestamp;
+    }
+
+    function _getAccruedInterest() internal view returns (uint256) {
+        // base_balance = base_balance * (1 + r * t)
+        uint256 timeElapsed = (block.timestamp - _lastUpdated).divDown(
+            365 days
+        );
+        return
+            asset.balanceOf(address(this)).mulDown(_rate.mulDown(timeElapsed));
+    }
+}
diff --git a/contracts/test/MockHyperdriveTestnet.sol b/contracts/test/MockHyperdriveTestnet.sol
deleted file mode 100644
index de65131aa..000000000
--- a/contracts/test/MockHyperdriveTestnet.sol
+++ /dev/null
@@ -1,208 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import { ERC20PresetMinterPauser } from "openzeppelin-contracts/contracts/token/ERC20/presets/ERC20PresetMinterPauser.sol";
-import { Hyperdrive } from "../src/Hyperdrive.sol";
-import { HyperdriveDataProvider } from "../src/HyperdriveDataProvider.sol";
-import { IERC20 } from "../src/interfaces/IERC20.sol";
-import { IHyperdrive } from "../src/interfaces/IHyperdrive.sol";
-import { FixedPointMath } from "../src/libraries/FixedPointMath.sol";
-import { MultiTokenDataProvider } from "../src/token/MultiTokenDataProvider.sol";
-import { ERC20Mintable } from "./ERC20Mintable.sol";
-
-contract MockHyperdriveTestnet is Hyperdrive {
-    using FixedPointMath for uint256;
-
-    uint256 internal rate;
-    uint256 internal lastUpdated;
-    uint256 internal totalShares;
-
-    constructor(
-        address _dataProvider,
-        ERC20Mintable _baseToken,
-        uint256 _initialRate,
-        uint256 _initialSharePrice,
-        uint256 _minimumShareReserves,
-        uint256 _positionDuration,
-        uint256 _checkpointDuration,
-        uint256 _timeStretch,
-        IHyperdrive.Fees memory _fees,
-        address _governance
-    )
-        Hyperdrive(
-            IHyperdrive.PoolConfig({
-                baseToken: IERC20(address(_baseToken)),
-                initialSharePrice: _initialSharePrice,
-                minimumShareReserves: _minimumShareReserves,
-                positionDuration: _positionDuration,
-                checkpointDuration: _checkpointDuration,
-                timeStretch: _timeStretch,
-                governance: _governance,
-                feeCollector: _feeCollector,
-                fees: _fees,
-                oracleSize: 2,
-                updateGap: 0
-            }),
-            _dataProvider,
-            bytes32(0),
-            address(0)
-        )
-    {
-        rate = _initialRate;
-        lastUpdated = block.timestamp;
-    }
-
-    /// Overrides ///
-
-    error UnsupportedOption();
-
-    function _deposit(
-        uint256 _amount,
-        bool _asUnderlying
-    ) internal override returns (uint256 sharesMinted, uint256 sharePrice) {
-        if (!_asUnderlying) revert UnsupportedOption();
-
-        // Accrue interest.
-        accrueInterest();
-
-        // Take custody of the base.
-        bool success = _baseToken.transferFrom(
-            msg.sender,
-            address(this),
-            _amount
-        );
-        if (!success) {
-            revert IHyperdrive.TransferFailed();
-        }
-
-        // Update the total shares calculation.
-        if (totalShares == 0) {
-            totalShares = _amount;
-            return (_amount, FixedPointMath.ONE_18);
-        } else {
-            sharePrice = _pricePerShare();
-            sharesMinted = _amount.divDown(sharePrice);
-            totalShares += sharesMinted;
-            return (sharesMinted, sharePrice);
-        }
-    }
-
-    function _withdraw(
-        uint256 _shares,
-        address _destination,
-        bool _asUnderlying
-    ) internal override returns (uint256 amountWithdrawn) {
-        if (!_asUnderlying) revert UnsupportedOption();
-
-        // Accrue interest.
-        accrueInterest();
-
-        // Transfer the base to the destination.
-        uint256 sharePrice = _pricePerShare();
-        amountWithdrawn = _shares.mulDown(sharePrice);
-        bool success = _baseToken.transfer(_destination, amountWithdrawn);
-        if (!success) {
-            revert IHyperdrive.TransferFailed();
-        }
-
-        // Remove shares from the total supply
-        totalShares -= _shares;
-
-        return amountWithdrawn;
-    }
-
-    function _pricePerShare() internal view override returns (uint256) {
-        uint256 underlying = _baseToken.balanceOf(address(this)) +
-            getAccruedInterest();
-        return underlying.divDown(totalShares);
-    }
-
-    /// Configuration ///
-
-    function setRate(uint256 _rate) external {
-        // Accrue interest.
-        accrueInterest();
-
-        // Update the rate.
-        rate = _rate;
-    }
-
-    /// Helpers ///
-
-    function getAccruedInterest() internal view returns (uint256) {
-        // base_balance = base_balance * (1 + r * t)
-        uint256 timeElapsed = (block.timestamp - lastUpdated).divDown(365 days);
-        return
-            _baseToken.balanceOf(address(this)).mulDown(
-                rate.mulDown(timeElapsed)
-            );
-    }
-
-    function accrueInterest() internal {
-        ERC20Mintable(address(_baseToken)).mint(getAccruedInterest());
-        lastUpdated = block.timestamp;
-    }
-}
-
-contract MockHyperdriveDataProviderTestnet is
-    MultiTokenDataProvider,
-    HyperdriveDataProvider
-{
-    using FixedPointMath for uint256;
-
-    uint256 internal rate;
-    uint256 internal lastUpdated;
-    uint256 internal totalShares;
-
-    constructor(
-        ERC20Mintable _baseToken,
-        uint256 _initialRate,
-        uint256 _initialSharePrice,
-        uint256 _minimumShareReserves,
-        uint256 _positionDuration,
-        uint256 _checkpointDuration,
-        uint256 _timeStretch,
-        IHyperdrive.Fees memory _fees,
-        address _governance
-    )
-        HyperdriveDataProvider(
-            IHyperdrive.PoolConfig({
-                baseToken: IERC20(address(_baseToken)),
-                initialSharePrice: _initialSharePrice,
-                minimumShareReserves: _minimumShareReserves,
-                positionDuration: _positionDuration,
-                checkpointDuration: _checkpointDuration,
-                timeStretch: _timeStretch,
-                governance: _governance,
-                feeCollector: _feeCollector,
-                fees: _fees,
-                oracleSize: 2,
-                updateGap: 0
-            })
-        )
-        MultiTokenDataProvider(_linkerCodeHash, _factory)
-    {}
-
-    function getRate() external view returns (uint256) {
-        _revert(abi.encode(rate));
-    }
-
-    /// Overrides ///
-
-    function _pricePerShare() internal view override returns (uint256) {
-        uint256 underlying = _baseToken.balanceOf(address(this)) +
-            getAccruedInterest();
-        return underlying.divDown(totalShares);
-    }
-
-    /// Helpers ///
-
-    function getAccruedInterest() internal view returns (uint256) {
-        // base_balance = base_balance * (1 + r * t)
-        uint256 timeElapsed = (block.timestamp - lastUpdated).divDown(365 days);
-        return
-            _baseToken.balanceOf(address(this)).mulDown(
-                rate.mulDown(timeElapsed)
-            );
-    }
-}
diff --git a/run_migrations.sh b/migrate.sh
similarity index 81%
rename from run_migrations.sh
rename to migrate.sh
index 4db58a81f..9d8933270 100755
--- a/run_migrations.sh
+++ b/migrate.sh
@@ -1,5 +1,4 @@
 #!/bin/sh
-
 set -ex
 
 # Sleep for a few seconds to allow the Ethereum service to start up.
@@ -8,8 +7,8 @@ sleep 2
 # Create an artifacts directory if it doesn't already exist.
 mkdir -p ./artifacts
 
-# Deploy the MockHyperdrive instance and the MockHyperdriveMath contract.
-forge script script/MockHyperdrive.s.sol:MockHyperdriveScript \
+# Execute the devnet migration.
+forge script script/DevnetMigration.s.sol:DevnetMigration \
    --sender "${ETH_FROM}" \
    --private-key "${PRIVATE_KEY}" \
    --rpc-url "${RPC_URL}" \
diff --git a/python/contract_size.py b/python/contract_size.py
index 147ac8c57..1ac3489f0 100644
--- a/python/contract_size.py
+++ b/python/contract_size.py
@@ -41,11 +41,7 @@ def should_check_code_size(artifact):
     compilation_target = get_compilation_target(artifact)
     if not compilation_target:
         return False
-    return (
-        "contracts/src/" in compilation_target
-        or "MockHyperdriveTestnet" in compilation_target
-        or "MockMakerDsrHyperdrive" in compilation_target
-    )
+    return "contracts/src/" in compilation_target
 
 
 ARTIFACTS_PATH = sys.argv[1]
diff --git a/script/CloseLong.s.sol b/script/CloseLong.s.sol
deleted file mode 100644
index 53b98f9db..000000000
--- a/script/CloseLong.s.sol
+++ /dev/null
@@ -1,64 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import "forge-std/Script.sol";
-import "forge-std/console.sol";
-
-import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
-import { AssetId } from "contracts/src/libraries/AssetId.sol";
-import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
-import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-import { ERC20Mintable } from "contracts/test/ERC20Mintable.sol";
-import { HyperdriveUtils } from "test/utils/HyperdriveUtils.sol";
-import { Lib } from "test/utils/Lib.sol";
-
-contract CloseLongScript is Script {
-    using FixedPointMath for uint256;
-    using HyperdriveUtils for IHyperdrive;
-    using Lib for *;
-
-    IHyperdrive internal constant HYPERDRIVE =
-        IHyperdrive(0xCf7Ed3AccA5a467e9e704C703E8D87F634fB0Fc9);
-    ERC20Mintable internal constant BASE =
-        ERC20Mintable(0x5FbDB2315678afecb367f032d93F642f64180aa3);
-
-    function setUp() public {}
-
-    function run() public {
-        vm.startBroadcast();
-
-        uint256 maturityTime = 1719878400;
-
-        uint256 baseProceeds = HYPERDRIVE.closeLong(
-            maturityTime,
-            10_000e18,
-            0,
-            msg.sender,
-            true
-        );
-
-        console.log(
-            "Bob closed a long position for %s base",
-            baseProceeds.toString(18)
-        );
-        console.log(
-            "Bob's long balance is now %s bonds",
-            HYPERDRIVE.balanceOf(
-                AssetId.encodeAssetId(
-                    AssetId.AssetIdPrefix.Long,
-                    HYPERDRIVE.latestCheckpoint() +
-                        HYPERDRIVE.getPoolConfig().positionDuration
-                ),
-                msg.sender
-            )
-        );
-
-        vm.stopBroadcast();
-    }
-
-    function createUser(string memory name) public returns (address _user) {
-        _user = address(uint160(uint256(keccak256(abi.encode(name)))));
-        vm.label(_user, name);
-        vm.deal(_user, 10000 ether);
-    }
-}
diff --git a/script/DevnetMigration.s.sol b/script/DevnetMigration.s.sol
new file mode 100644
index 000000000..62438ffe7
--- /dev/null
+++ b/script/DevnetMigration.s.sol
@@ -0,0 +1,130 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.19;
+
+import { Script } from "forge-std/Script.sol";
+import { stdJson } from "forge-std/StdJson.sol";
+import { ERC4626HyperdriveDeployer } from "contracts/src/factory/ERC4626HyperdriveDeployer.sol";
+import { ERC4626HyperdriveFactory } from "contracts/src/factory/ERC4626HyperdriveFactory.sol";
+import { HyperdriveFactory } from "contracts/src/factory/HyperdriveFactory.sol";
+import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
+import { IERC4626 } from "contracts/src/interfaces/IERC4626.sol";
+import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
+import { ForwarderFactory } from "contracts/src/token/ForwarderFactory.sol";
+import { ERC20Mintable } from "contracts/test/ERC20Mintable.sol";
+import { MockERC4626 } from "contracts/test/MockERC4626.sol";
+import { MockHyperdriveMath } from "contracts/test/MockHyperdriveMath.sol";
+import { HyperdriveUtils } from "test/utils/HyperdriveUtils.sol";
+
+/// @author DELV
+/// @title DevnetMigration
+/// @notice This script deploys a mock ERC4626 yield source and a Hyperdrive
+///         factory on top of it. For convenience, it also deploys a Hyperdrive
+///         pool with a 1 week duration.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+contract DevnetMigration is Script {
+    using stdJson for string;
+    using HyperdriveUtils for *;
+
+    function setUp() external {}
+
+    function run() external {
+        vm.startBroadcast();
+
+        // Deploy the base token and yield source.
+        ERC20Mintable baseToken = new ERC20Mintable();
+        MockERC4626 pool = new MockERC4626(
+            baseToken,
+            "Delvnet Yield Source",
+            "DELV",
+            0.05e18 // initial rate of 5%
+        );
+
+        // Deploy the Hyperdrive factory.
+        ERC4626HyperdriveFactory factory;
+        {
+            address[] memory defaultPausers = new address[](1);
+            defaultPausers[0] = msg.sender;
+            HyperdriveFactory.FactoryConfig
+                memory factoryConfig = HyperdriveFactory.FactoryConfig({
+                    governance: msg.sender,
+                    hyperdriveGovernance: msg.sender,
+                    feeCollector: msg.sender,
+                    fees: IHyperdrive.Fees({
+                        curve: 0.1e18, // 10%
+                        flat: 0.0005e18, // 0.05%
+                        governance: 0.15e18 // 15%
+                    }),
+                    maxFees: IHyperdrive.Fees({
+                        curve: 0.3e18, // 30%
+                        flat: 0.0015e18, // 0.15%
+                        governance: 0.30e18 // 30%
+                    }),
+                    defaultPausers: defaultPausers
+                });
+            ForwarderFactory forwarderFactory = new ForwarderFactory();
+            ERC4626HyperdriveDeployer deployer = new ERC4626HyperdriveDeployer(
+                IERC4626(address(pool))
+            );
+            factory = new ERC4626HyperdriveFactory(
+                factoryConfig,
+                deployer,
+                address(forwarderFactory),
+                forwarderFactory.ERC20LINK_HASH(),
+                IERC4626(address(pool)),
+                new address[](0)
+            );
+        }
+
+        // Deploy and initialize a 1 week pool for the devnet.
+        IHyperdrive hyperdrive;
+        {
+            uint256 contribution = 100_000_000e18;
+            uint256 fixedRate = 0.05e18;
+            baseToken.mint(msg.sender, contribution);
+            baseToken.approve(address(factory), contribution);
+            IHyperdrive.PoolConfig memory poolConfig = IHyperdrive.PoolConfig({
+                baseToken: IERC20(address(baseToken)),
+                initialSharePrice: 1e18,
+                minimumShareReserves: 10e18,
+                positionDuration: 1 weeks,
+                checkpointDuration: 1 hours,
+                timeStretch: 0.05e18.calculateTimeStretch(),
+                governance: msg.sender,
+                feeCollector: msg.sender,
+                fees: IHyperdrive.Fees({
+                    curve: 0.1e18, // 10%
+                    flat: 0.0005e18, // 0.05%
+                    governance: 0.15e18 // 15%
+                }),
+                oracleSize: 10,
+                updateGap: 1 hours
+            });
+            hyperdrive = factory.deployAndInitialize(
+                poolConfig,
+                new bytes32[](0),
+                contribution,
+                fixedRate
+            );
+        }
+
+        // Deploy the MockHyperdriveMath contract.
+        MockHyperdriveMath mockHyperdriveMath = new MockHyperdriveMath();
+
+        vm.stopBroadcast();
+
+        // Writes the addresses to a file.
+        string memory result = "result";
+        vm.serializeAddress(result, "baseToken", address(baseToken));
+        vm.serializeAddress(result, "hyperdriveFactory", address(factory));
+        // TODO: This is deprecated and should be removed by 0.0.11.
+        vm.serializeAddress(result, "mockHyperdrive", address(hyperdrive));
+        result = vm.serializeAddress(
+            result,
+            "mockHyperdriveMath",
+            address(mockHyperdriveMath)
+        );
+        result.write("./artifacts/script_addresses.json");
+    }
+}
diff --git a/script/DevnetSmokeTest.s.sol b/script/DevnetSmokeTest.s.sol
new file mode 100644
index 000000000..0822e376f
--- /dev/null
+++ b/script/DevnetSmokeTest.s.sol
@@ -0,0 +1,159 @@
+// SPDX-License-Identifier: Apache-2.0
+pragma solidity 0.8.19;
+
+import { Script } from "forge-std/Script.sol";
+import { console } from "forge-std/console.sol";
+import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
+import { AssetId } from "contracts/src/libraries/AssetId.sol";
+import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
+import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
+import { ERC20Mintable } from "contracts/test/ERC20Mintable.sol";
+import { HyperdriveUtils } from "test/utils/HyperdriveUtils.sol";
+import { Lib } from "test/utils/Lib.sol";
+
+/// @author DELV
+/// @title DevnetSmokeTest
+/// @notice This script executes a smoke test against a Hyperdrive devnet.
+/// @custom:disclaimer The language used in this code is for coding convenience
+///                    only, and is not intended to, and does not, have any
+///                    particular legal or regulatory significance.
+contract DevnetSmokeTest is Script {
+    using FixedPointMath for uint256;
+    using HyperdriveUtils for IHyperdrive;
+    using Lib for *;
+
+    IHyperdrive internal HYPERDRIVE = IHyperdrive(vm.envAddress("HYPERDRIVE"));
+    ERC20Mintable internal BASE = ERC20Mintable(vm.envAddress("BASE"));
+
+    function setUp() external {}
+
+    function run() external {
+        // Execute all transactions with the ETH_FROM address.
+        vm.startBroadcast(msg.sender);
+
+        console.log("Starting pool info:");
+        _logInfo();
+        console.log("");
+
+        // Execute the smoke tests.
+        _testLp();
+        _testLong();
+        _testShort();
+
+        console.log("Ending pool info:");
+        _logInfo();
+        console.log("");
+
+        vm.stopBroadcast();
+    }
+
+    function _testLong() internal {
+        // Open a long.
+        console.log("sender=%s: Opening a long position...", msg.sender);
+        BASE.mint(msg.sender, 10_000e18);
+        BASE.approve(address(HYPERDRIVE), 10_000e18);
+        (uint256 maturityTime, uint256 bondAmount) = HYPERDRIVE.openLong(
+            10_000e18,
+            0,
+            msg.sender,
+            true
+        );
+        console.log(
+            "sender=%s: Opened a long position: maturity=%s, amount=%s",
+            msg.sender,
+            maturityTime,
+            bondAmount.toString(18)
+        );
+
+        // Close the long.
+        console.log("sender=%s: Closing the long position...");
+        uint256 baseProceeds = HYPERDRIVE.closeLong(
+            maturityTime,
+            bondAmount,
+            0,
+            msg.sender,
+            true
+        );
+        console.log(
+            "sender=%s: Closed the long position: baseProceeds=%s",
+            msg.sender,
+            baseProceeds.toString(18)
+        );
+    }
+
+    function _testLp() internal {
+        // Add liquidity.
+        console.log("sender=%s: Adding liquidity...", msg.sender);
+        BASE.mint(msg.sender, 10_000e18);
+        BASE.approve(address(HYPERDRIVE), 10_000e18);
+        uint256 lpShares = HYPERDRIVE.addLiquidity(
+            10_000e18,
+            0,
+            type(uint256).max,
+            msg.sender,
+            true
+        );
+        console.log(
+            "sender=%s: Added liquidity: lpShares=%s",
+            msg.sender,
+            lpShares.toString(18)
+        );
+
+        // Removing liquidity.
+        console.log("sender=%s: Removing liquidity...", msg.sender);
+        (uint256 proceeds, uint256 withdrawalShares) = HYPERDRIVE
+            .removeLiquidity(lpShares, 0, msg.sender, true);
+        console.log(
+            "sender=%s: Removed liquidity: proceeds=%s, withdrawalShares=%s",
+            msg.sender,
+            proceeds.toString(18),
+            withdrawalShares.toString(18)
+        );
+    }
+
+    function _testShort() internal {
+        // Open a short.
+        console.log("sender=%s: Opening a short position...", msg.sender);
+        BASE.mint(msg.sender, 10_000e18);
+        BASE.approve(address(HYPERDRIVE), 10_000e18);
+        (uint256 maturityTime, uint256 bondAmount) = HYPERDRIVE.openShort(
+            10_000e18,
+            type(uint256).max,
+            msg.sender,
+            true
+        );
+        console.log(
+            "sender=%s: Opened a short position: maturity=%s, amount=%s",
+            msg.sender,
+            maturityTime,
+            bondAmount.toString(18)
+        );
+
+        // Close the short.
+        console.log("sender=%s: Closing the short position...");
+        uint256 baseProceeds = HYPERDRIVE.closeShort(
+            maturityTime,
+            bondAmount,
+            0,
+            msg.sender,
+            true
+        );
+        console.log(
+            "sender=%s: Closed the short position: baseProceeds=%s",
+            msg.sender,
+            baseProceeds.toString(18)
+        );
+    }
+
+    function _logInfo() internal view {
+        IHyperdrive.PoolInfo memory info = HYPERDRIVE.getPoolInfo();
+        console.log("shareReserves: %s", info.shareReserves.toString(18));
+        console.log("bondReserves: %s", info.bondReserves.toString(18));
+        console.log("sharePrice: %s", info.sharePrice.toString(18));
+        console.log("longsOutstanding: %s", info.longsOutstanding.toString(18));
+        console.log(
+            "shortsOutstanding: %s",
+            info.shortsOutstanding.toString(18)
+        );
+    }
+}
diff --git a/script/Faucet.s.sol b/script/Faucet.s.sol
deleted file mode 100644
index 496e8fa8b..000000000
--- a/script/Faucet.s.sol
+++ /dev/null
@@ -1,27 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import "forge-std/Script.sol";
-
-interface Faucet {
-    function mint(address token, address to, uint256 amount) external;
-}
-
-contract FaucetScript is Script {
-    function setUp() public {}
-
-    function run() public {
-        uint256 deployerPrivateKey = vm.envUint("PRIVATE_KEY");
-        address deployerAddress = vm.addr(deployerPrivateKey);
-        vm.startBroadcast(deployerPrivateKey);
-
-        // Mint dai token to deployer address
-        address dai = address(0x11fE4B6AE13d2a6055C8D9cF65c55bac32B5d844);
-        Faucet faucet = Faucet(
-            address(0xe2bE5BfdDbA49A86e27f3Dd95710B528D43272C2)
-        );
-        faucet.mint(dai, deployerAddress, 50_000e18);
-
-        vm.stopBroadcast();
-    }
-}
diff --git a/script/Hyperdrive.s.sol b/script/Hyperdrive.s.sol
deleted file mode 100644
index ccf1de481..000000000
--- a/script/Hyperdrive.s.sol
+++ /dev/null
@@ -1,12 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import "forge-std/Script.sol";
-
-contract HyperdriveScript is Script {
-    function setUp() public {}
-
-    function run() public {
-        vm.broadcast();
-    }
-}
diff --git a/script/HyperdriveInitialize.s.sol b/script/HyperdriveInitialize.s.sol
deleted file mode 100644
index 562acfc40..000000000
--- a/script/HyperdriveInitialize.s.sol
+++ /dev/null
@@ -1,32 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import "forge-std/Script.sol";
-import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
-import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-import { HyperdriveUtils } from "test/utils/HyperdriveUtils.sol";
-import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
-
-contract HyperdriveInitialize is Script {
-    using FixedPointMath for uint256;
-
-    function setUp() public {}
-
-    function run() public {
-        uint256 deployerPrivateKey = vm.envUint("PRIVATE_KEY");
-        address deployerAddress = vm.addr(deployerPrivateKey);
-        vm.startBroadcast(deployerPrivateKey);
-
-        IHyperdrive hyperdrive = IHyperdrive(
-            address(0xB311B825171AF5A60d69aAD590B857B1E5ed23a2)
-        );
-        IERC20 baseToken = IERC20(hyperdrive.baseToken());
-        // Initialize Hyperdrive to have an APR equal to 1%.
-        uint256 apr = 0.01e18;
-        uint256 contribution = 50_000e18;
-        baseToken.approve(address(hyperdrive), contribution);
-        hyperdrive.initialize(contribution, apr, deployerAddress, true);
-
-        vm.stopBroadcast();
-    }
-}
diff --git a/script/MockHyperdrive.s.sol b/script/MockHyperdrive.s.sol
deleted file mode 100644
index 46627f841..000000000
--- a/script/MockHyperdrive.s.sol
+++ /dev/null
@@ -1,78 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity ^0.8.13;
-
-import { stdJson } from "forge-std/StdJson.sol";
-import { Script } from "forge-std/Script.sol";
-import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
-import { MockHyperdriveMath } from "contracts/test/MockHyperdriveMath.sol";
-import { ERC20Mintable } from "contracts/test/ERC20Mintable.sol";
-import { MockHyperdriveTestnet, MockHyperdriveDataProviderTestnet } from "contracts/test/MockHyperdriveTestnet.sol";
-import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-
-contract MockHyperdriveScript is Script {
-    using stdJson for string;
-    using FixedPointMath for uint256;
-
-    function setUp() public {}
-
-    function run() public {
-        vm.startBroadcast();
-
-        // Mock ERC20
-        ERC20Mintable baseToken = new ERC20Mintable();
-        baseToken.mint(1_000_000e18);
-
-        // Mock Hyperdrive, 1 year term
-        MockHyperdriveDataProviderTestnet dataProvider = new MockHyperdriveDataProviderTestnet(
-                baseToken,
-                5e18,
-                FixedPointMath.ONE_18,
-                FixedPointMath.ONE_18,
-                365 days,
-                1 days,
-                FixedPointMath.ONE_18.divDown(22.186877016851916266e18),
-                IHyperdrive.Fees({
-                    curve: 0.1e18,
-                    flat: 0.05e18,
-                    governance: 0.1e18
-                }),
-                address(0)
-            );
-        MockHyperdriveTestnet hyperdrive = new MockHyperdriveTestnet(
-            address(dataProvider),
-            baseToken,
-            5e18,
-            FixedPointMath.ONE_18,
-            FixedPointMath.ONE_18,
-            365 days,
-            1 days,
-            FixedPointMath.ONE_18.divDown(22.186877016851916266e18),
-            IHyperdrive.Fees({
-                curve: 0.1e18,
-                flat: 0.05e18,
-                governance: 0.1e18
-            }),
-            address(0)
-        );
-
-        // Initializes the Hyperdrive pool.
-        baseToken.approve(address(hyperdrive), 10_000_000e18);
-        hyperdrive.initialize(100_000e18, 0.05e18, msg.sender, true);
-
-        // Deploy the MockHyperdriveMath contract.
-        MockHyperdriveMath mockHyperdriveMath = new MockHyperdriveMath();
-
-        vm.stopBroadcast();
-
-        // Writes the addresses to a file.
-        string memory result = "result";
-        vm.serializeAddress(result, "baseToken", address(baseToken));
-        vm.serializeAddress(result, "mockHyperdrive", address(hyperdrive));
-        result = vm.serializeAddress(
-            result,
-            "mockHyperdriveMath",
-            address(mockHyperdriveMath)
-        );
-        result.write("./artifacts/script_addresses.json");
-    }
-}
diff --git a/script/MockHyperdriveMath.s.sol b/script/MockHyperdriveMath.s.sol
deleted file mode 100644
index 04d4021fb..000000000
--- a/script/MockHyperdriveMath.s.sol
+++ /dev/null
@@ -1,29 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import { stdJson } from "forge-std/StdJson.sol";
-import { Script } from "forge-std/Script.sol";
-import { console } from "forge-std/console.sol";
-import { MockHyperdriveMath } from "contracts/test/MockHyperdriveMath.sol";
-
-contract MockHyperdriveMathScript is Script {
-    using stdJson for string;
-
-    function setUp() external {}
-
-    function run() external {
-        vm.startBroadcast();
-
-        MockHyperdriveMath mockHyperdriveMath = new MockHyperdriveMath();
-
-        vm.stopBroadcast();
-
-        string memory result = "result";
-        result = vm.serializeAddress(
-            result,
-            "mockHyperdriveMath",
-            address(mockHyperdriveMath)
-        );
-        result.write("./artifacts/script_addresses.json");
-    }
-}
diff --git a/script/OpenLong.s.sol b/script/OpenLong.s.sol
deleted file mode 100644
index b41f0179d..000000000
--- a/script/OpenLong.s.sol
+++ /dev/null
@@ -1,64 +0,0 @@
-// SPDX-License-Identifier: Apache-2.0
-pragma solidity 0.8.19;
-
-import "forge-std/Script.sol";
-import "forge-std/console.sol";
-
-import { IERC20 } from "contracts/src/interfaces/IERC20.sol";
-import { AssetId } from "contracts/src/libraries/AssetId.sol";
-import { FixedPointMath } from "contracts/src/libraries/FixedPointMath.sol";
-import { IHyperdrive } from "contracts/src/interfaces/IHyperdrive.sol";
-import { ERC20Mintable } from "contracts/test/ERC20Mintable.sol";
-import { HyperdriveUtils } from "test/utils/HyperdriveUtils.sol";
-import { Lib } from "test/utils/Lib.sol";
-
-contract OpenLongScript is Script {
-    using FixedPointMath for uint256;
-    using HyperdriveUtils for IHyperdrive;
-    using Lib for *;
-
-    IHyperdrive internal constant HYPERDRIVE =
-        IHyperdrive(0xCf7Ed3AccA5a467e9e704C703E8D87F634fB0Fc9);
-    ERC20Mintable internal constant BASE =
-        ERC20Mintable(0x5FbDB2315678afecb367f032d93F642f64180aa3);
-
-    function setUp() public {}
-
-    function run() public {
-        vm.startBroadcast();
-
-        BASE.mint(msg.sender, 10_000e18);
-        BASE.approve(address(HYPERDRIVE), 10_000e18);
-        (uint256 maturityTime, uint256 longAmount) = HYPERDRIVE.openLong(
-            10_000e18,
-            0,
-            msg.sender,
-            true
-        );
-
-        console.log(
-            "Bob opened a long position of %s bonds that matures in timestamp %s",
-            longAmount,
-            maturityTime
-        );
-        console.log(
-            "Bob's long balance is now %s bonds",
-            HYPERDRIVE.balanceOf(
-                AssetId.encodeAssetId(
-                    AssetId.AssetIdPrefix.Long,
-                    HYPERDRIVE.latestCheckpoint() +
-                        HYPERDRIVE.getPoolConfig().positionDuration
-                ),
-                msg.sender
-            )
-        );
-
-        vm.stopBroadcast();
-    }
-
-    function createUser(string memory name) public returns (address _user) {
-        _user = address(uint160(uint256(keccak256(abi.encode(name)))));
-        vm.label(_user, name);
-        vm.deal(_user, 10000 ether);
-    }
-}
diff --git a/smoke_test.sh b/smoke_test.sh
new file mode 100755
index 000000000..7937bee59
--- /dev/null
+++ b/smoke_test.sh
@@ -0,0 +1,13 @@
+#!/bin/sh
+set -ex
+
+# Sleep for a few seconds to allow the Ethereum service to start up.
+sleep 2
+
+# Execute the devnet smoke test.
+forge script script/DevnetSmokeTest.s.sol:DevnetSmokeTest \
+   --sender "${ETH_FROM}" \
+   --private-key "${PRIVATE_KEY}" \
+   --rpc-url "${RPC_URL}" \
+   --slow \
+   --broadcast
diff --git a/test/utils/HyperdriveUtils.sol b/test/utils/HyperdriveUtils.sol
index e4beea906..1b4729791 100644
--- a/test/utils/HyperdriveUtils.sol
+++ b/test/utils/HyperdriveUtils.sol
@@ -320,4 +320,185 @@ library HyperdriveUtils {
             hyperdrive.totalSupply(AssetId._WITHDRAWAL_SHARE_ASSET_ID) -
             hyperdrive.getPoolInfo().withdrawalSharesReadyToWithdraw;
     }
+
+    function decodeError(
+        bytes memory _error
+    ) internal pure returns (string memory) {
+        // All of the Hyperdrive errors have a selector.
+        if (_error.length < 4) {
+            revert("Invalid error");
+        }
+
+        // Convert the selector to the correct error message.
+        bytes4 selector;
+        assembly {
+            selector := mload(add(_error, 0x20))
+        }
+        return selector.decodeError();
+    }
+
+    function decodeError(
+        bytes4 _selector
+    ) internal pure returns (string memory) {
+        // Convert the selector to the correct error message.
+        if (_selector == IHyperdrive.BaseBufferExceedsShareReserves.selector) {
+            return "BaseBufferExceedsShareReserves";
+        }
+        if (_selector == IHyperdrive.BelowMinimumContribution.selector) {
+            return "BelowMinimumContribution";
+        }
+        if (_selector == IHyperdrive.BelowMinimumShareReserves.selector) {
+            return "BelowMinimumShareReserves";
+        }
+        if (_selector == IHyperdrive.InvalidApr.selector) {
+            return "InvalidApr";
+        }
+        if (_selector == IHyperdrive.InvalidBaseToken.selector) {
+            return "InvalidBaseToken";
+        }
+        if (_selector == IHyperdrive.InvalidCheckpointTime.selector) {
+            return "InvalidCheckpointTime";
+        }
+        if (_selector == IHyperdrive.InvalidCheckpointDuration.selector) {
+            return "InvalidCheckpointDuration";
+        }
+        if (_selector == IHyperdrive.InvalidInitialSharePrice.selector) {
+            return "InvalidInitialSharePrice";
+        }
+        if (_selector == IHyperdrive.InvalidMaturityTime.selector) {
+            return "InvalidMaturityTime";
+        }
+        if (_selector == IHyperdrive.InvalidMinimumShareReserves.selector) {
+            return "InvalidMinimumShareReserves";
+        }
+        if (_selector == IHyperdrive.InvalidPositionDuration.selector) {
+            return "InvalidPositionDuration";
+        }
+        if (_selector == IHyperdrive.InvalidShareReserves.selector) {
+            return "InvalidShareReserves";
+        }
+        if (_selector == IHyperdrive.InvalidFeeAmounts.selector) {
+            return "InvalidFeeAmounts";
+        }
+        if (_selector == IHyperdrive.NegativeInterest.selector) {
+            return "NegativeInterest";
+        }
+        if (_selector == IHyperdrive.OutputLimit.selector) {
+            return "OutputLimit";
+        }
+        if (_selector == IHyperdrive.Paused.selector) {
+            return "Paused";
+        }
+        if (_selector == IHyperdrive.PoolAlreadyInitialized.selector) {
+            return "PoolAlreadyInitialized";
+        }
+        if (_selector == IHyperdrive.TransferFailed.selector) {
+            return "TransferFailed";
+        }
+        if (_selector == IHyperdrive.UnexpectedAssetId.selector) {
+            return "UnexpectedAssetId";
+        }
+        if (_selector == IHyperdrive.UnexpectedSender.selector) {
+            return "UnexpectedSender";
+        }
+        if (_selector == IHyperdrive.UnsupportedToken.selector) {
+            return "UnsupportedToken";
+        }
+        if (_selector == IHyperdrive.ApprovalFailed.selector) {
+            return "ApprovalFailed";
+        }
+        if (_selector == IHyperdrive.ZeroAmount.selector) {
+            return "ZeroAmount";
+        }
+        if (_selector == IHyperdrive.ZeroLpTotalSupply.selector) {
+            return "ZeroLpTotalSupply";
+        }
+        if (_selector == IHyperdrive.NoAssetsToWithdraw.selector) {
+            return "NoAssetsToWithdraw";
+        }
+        if (_selector == IHyperdrive.NotPayable.selector) {
+            return "NotPayable";
+        }
+        if (_selector == IHyperdrive.QueryOutOfRange.selector) {
+            return "QueryOutOfRange";
+        }
+        if (_selector == IHyperdrive.ReturnData.selector) {
+            return "ReturnData";
+        }
+        if (_selector == IHyperdrive.CallFailed.selector) {
+            return "CallFailed";
+        }
+        if (_selector == IHyperdrive.UnexpectedSuccess.selector) {
+            return "UnexpectedSuccess";
+        }
+        if (_selector == IHyperdrive.Unauthorized.selector) {
+            return "Unauthorized";
+        }
+        if (_selector == IHyperdrive.InvalidContribution.selector) {
+            return "InvalidContribution";
+        }
+        if (_selector == IHyperdrive.InvalidToken.selector) {
+            return "InvalidToken";
+        }
+        if (_selector == IHyperdrive.MaxFeeTooHigh.selector) {
+            return "MaxFeeTooHigh";
+        }
+        if (_selector == IHyperdrive.FeeTooHigh.selector) {
+            return "FeeTooHigh";
+        }
+        if (_selector == IHyperdrive.NonPayableInitialization.selector) {
+            return "NonPayableInitialization";
+        }
+        if (_selector == IHyperdrive.BatchInputLengthMismatch.selector) {
+            return "BatchInputLengthMismatch";
+        }
+        if (_selector == IHyperdrive.ExpiredDeadline.selector) {
+            return "ExpiredDeadline";
+        }
+        if (_selector == IHyperdrive.ExpiredDeadline.selector) {
+            return "InvalidSignature";
+        }
+        if (_selector == IHyperdrive.InvalidERC20Bridge.selector) {
+            return "InvalidERC20Bridge";
+        }
+        if (_selector == IHyperdrive.RestrictedZeroAddress.selector) {
+            return "RestrictedZeroAddress";
+        }
+        if (_selector == IHyperdrive.AlreadyClosed.selector) {
+            return "AlreadyClosed";
+        }
+        if (_selector == IHyperdrive.BondMatured.selector) {
+            return "BondMatured";
+        }
+        if (_selector == IHyperdrive.BondNotMatured.selector) {
+            return "BondNotMatured";
+        }
+        if (_selector == IHyperdrive.InsufficientPrice.selector) {
+            return "InsufficientPrice";
+        }
+        if (_selector == IHyperdrive.MintPercentTooHigh.selector) {
+            return "MintPercentTooHigh";
+        }
+        if (_selector == IHyperdrive.InvalidTimestamp.selector) {
+            return "InvalidTimestamp";
+        }
+        if (_selector == IHyperdrive.FixedPointMath_AddOverflow.selector) {
+            return "FixedPointMath_AddOverflow";
+        }
+        if (_selector == IHyperdrive.FixedPointMath_SubOverflow.selector) {
+            return "FixedPointMath_SubOverflow";
+        }
+        if (_selector == IHyperdrive.FixedPointMath_InvalidExponent.selector) {
+            return "FixedPointMath_InvalidExponent";
+        }
+        if (
+            _selector == IHyperdrive.FixedPointMath_NegativeOrZeroInput.selector
+        ) {
+            return "FixedPointMath_NegativeOrZeroInput";
+        }
+        if (_selector == IHyperdrive.FixedPointMath_NegativeInput.selector) {
+            return "FixedPointMath_NegativeInput";
+        }
+        revert("Unknown selector");
+    }
 }