@moonwell-fi/moonwell-sdk/actions/morpho/vaults/common.ts

TypeScript Interface for Moonwell

import dayjs from "dayjs";
import utc from "dayjs/plugin/utc.js";
import { type Address, getContract, parseAbi, zeroAddress } from "viem";

dayjs.extend(utc);
import { Amount } from "../../../common/amount.js";
import type { MultichainReturnType } from "../../../common/types.js";
import {
  type Environment,
  type TokenConfig,
  publicEnvironments,
} from "../../../environments/index.js";
import {
  findMarketByAddress,
  findTokenByAddress,
} from "../../../environments/utils/index.js";
import type { MorphoReward } from "../../../types/morphoReward.js";
import type {
  MorphoVault,
  MorphoVaultMarket,
} from "../../../types/morphoVault.js";
import { getGraphQL } from "../utils/graphql.js";
import {
  SECONDS_PER_YEAR,
  WAD,
  mulDivDown,
  toAssetsDown,
  wMulDown,
} from "../utils/math.js";

export async function getMorphoVaultsData(params: {
  environments: Environment[];
  vaults?: string[];
  includeRewards?: boolean;
  currentChainRewardsOnly?: boolean;
}): Promise<MorphoVault[]> {
  const { environments } = params;

  const environmentsWithVaults = environments.filter(
    (environment) =>
      Object.keys(environment.vaults).length > 0 &&
      environment.contracts.morphoViews,
  );

  const environmentsVaultsInfo = await Promise.all(
    environmentsWithVaults.map((environment) => {
      const vaultsAddresses = Object.values(environment.vaults)
        .map((v) => v.address)
        .filter((address) =>
          params.vaults
            ? params.vaults
                .map((id) => id.toLowerCase())
                .includes(address.toLowerCase())
            : true,
        );
      return environment.contracts.morphoViews?.read.getVaultsInfo([
        vaultsAddresses,
      ]);
    }),
  );

  const result = await environmentsWithVaults.reduce<
    Promise<MultichainReturnType<MorphoVault[]>>
  >(
    async (aggregatorPromise, environment, environmentIndex) => {
      const aggregator = await aggregatorPromise;
      const environmentVaultsInfo = environmentsVaultsInfo[environmentIndex]!;

      const vaults = await Promise.all(
        environmentVaultsInfo.map(async (vaultInfo) => {
          const vaultKey = Object.keys(environment.config.tokens).find(
            (key) => {
              return (
                environment.config.tokens[key].address.toLowerCase() ===
                vaultInfo.vault.toLowerCase()
              );
            },
          );

          const vaultToken = environment.config.tokens[vaultKey!];
          const vaultConfig = environment.config.vaults[vaultKey!];
          const underlyingToken =
            environment.config.tokens[vaultConfig.underlyingToken];
          const underlyingPrice = new Amount(vaultInfo.underlyingPrice, 18);

          const vaultSupply = new Amount(
            vaultInfo.totalSupply,
            vaultToken.decimals,
          );
          const totalSupply = new Amount(
            vaultInfo.totalAssets,
            underlyingToken.decimals,
          );
          const totalSupplyUsd = totalSupply.value * underlyingPrice.value;
          const performanceFee = new Amount(vaultInfo.fee, 18).value;
          const timelock = Number(vaultInfo.timelock) / (60 * 60);

          let ratio = 0n;

          const markets = vaultInfo.markets.map((vaultMarket) => {
            ratio += wMulDown(vaultMarket.marketApy, vaultMarket.vaultSupplied);

            const totalSupplied = new Amount(
              vaultMarket.vaultSupplied,
              underlyingToken.decimals,
            );
            const totalSuppliedUsd =
              totalSupplied.value * underlyingPrice.value;
            const allocation = totalSupplied.value / totalSupply.value;
            const marketLoanToValue =
              new Amount(vaultMarket.marketLltv, 18).value * 100;
            const marketApy = new Amount(vaultMarket.marketApy, 18).value * 100;

            let marketLiquidity = new Amount(
              vaultMarket.marketLiquidity,
              underlyingToken.decimals,
            );
            let marketLiquidityUsd =
              marketLiquidity.value * underlyingPrice.value;

            if (vaultMarket.marketCollateral === zeroAddress) {
              marketLiquidity = totalSupplied;
              marketLiquidityUsd = totalSuppliedUsd;
            }

            const mapping: MorphoVaultMarket = {
              marketId: vaultMarket.marketId,
              allocation,
              marketApy,
              marketCollateral: {
                address: vaultMarket.marketCollateral,
                decimals: 0,
                name: vaultMarket.marketCollateralName,
                symbol: vaultMarket.marketCollateralSymbol,
              },
              marketLiquidity,
              marketLiquidityUsd,
              marketLoanToValue,
              totalSupplied,
              totalSuppliedUsd,
              rewards: [],
            };

            return mapping;
          });

          const avgSupplyApy = mulDivDown(
            ratio,
            WAD - vaultInfo.fee,
            vaultInfo.totalAssets === 0n ? 1n : vaultInfo.totalAssets,
          );
          const baseApy = new Amount(avgSupplyApy, 18).value * 100;

          let totalLiquidity = new Amount(
            markets.reduce(
              (acc, curr) => acc + curr.marketLiquidity.exponential,
              0n,
            ),
            underlyingToken.decimals,
          );

          let totalLiquidityUsd = markets.reduce(
            (acc, curr) => acc + curr.marketLiquidityUsd,
            0,
          );

          if (totalLiquidity.value > totalSupply.value) {
            totalLiquidity = totalSupply;
            totalLiquidityUsd = totalSupplyUsd;
          }

          let totalStaked = new Amount(0n, underlyingToken.decimals);
          let totalStakedUsd = 0;

          if (vaultConfig.multiReward) {
            const [distributorTotalSupply, vaultTotalSupply, vaultTotalAssets] =
              await Promise.all([
                getTotalSupplyData(environment, vaultConfig.multiReward),
                getTotalSupplyData(environment, vaultToken.address),
                getTotalAssetsData(environment, vaultToken.address),
              ]);

            const stakedAssets = toAssetsDown(
              distributorTotalSupply,
              vaultTotalAssets,
              vaultTotalSupply,
            );

            totalStaked = new Amount(stakedAssets, underlyingToken.decimals);
            totalStakedUsd = totalStaked.value * underlyingPrice.value;
          }

          const mapping: MorphoVault = {
            chainId: environment.chainId,
            vaultKey: vaultKey!,
            vaultToken,
            underlyingToken,
            underlyingPrice: underlyingPrice.value,
            baseApy,
            totalApy: baseApy,
            rewardsApy: 0,
            stakingRewardsApr: 0,
            totalStakingApr: baseApy,
            curators: [],
            performanceFee,
            timelock,
            totalLiquidity,
            totalLiquidityUsd,
            totalSupplyUsd,
            totalSupply,
            vaultSupply,
            totalStaked,
            totalStakedUsd,
            markets: markets,
            rewards: [],
            stakingRewards: [],
          };

          return mapping;
        }),
      );

      return {
        ...(await aggregator),
        [environment.chainId]: vaults,
      };
    },
    Promise.resolve({} as MultichainReturnType<MorphoVault[]>),
  );

  // Add rewards to vaults
  if (params.includeRewards === true) {
    // add stake rewards

    const flatList = Object.values(result).flat();

    for (const vault of flatList) {
      const environment = params.environments.find(
        (environment) => environment.chainId === vault.chainId,
      );

      if (!environment) {
        continue;
      }

      // Fetch market prices from the views contract to calculate rewards
      const homeEnvironment =
        (Object.values(publicEnvironments) as Environment[]).find((e) =>
          e.custom?.governance?.chainIds?.includes(environment.chainId),
        ) || environment;

      const viewsContract = environment.contracts.views;
      const homeViewsContract = homeEnvironment.contracts.views;

      const data = await Promise.all([
        viewsContract?.read.getAllMarketsInfo(),
        homeViewsContract?.read.getNativeTokenPrice(),
        homeViewsContract?.read.getGovernanceTokenPrice(),
      ]);

      const [allMarkets, nativeTokenPriceRaw, governanceTokenPriceRaw] = data;

      const governanceTokenPrice = new Amount(
        governanceTokenPriceRaw || 0n,
        18,
      );
      const nativeTokenPrice = new Amount(nativeTokenPriceRaw || 0n, 18);

      let tokenPrices =
        allMarkets
          ?.map((marketInfo) => {
            const marketFound = findMarketByAddress(
              environment,
              marketInfo.market,
            );
            if (marketFound) {
              return {
                token: marketFound.underlyingToken,
                tokenPrice: new Amount(
                  marketInfo.underlyingPrice,
                  36 - marketFound.underlyingToken.decimals,
                ),
              };
            } else {
              return;
            }
          })
          .filter((token) => !!token) || [];

      // Add governance token to token prices
      if (environment.custom?.governance?.token) {
        tokenPrices = [
          ...tokenPrices,
          {
            token:
              environment.config.tokens[environment.custom.governance.token]!,
            tokenPrice: governanceTokenPrice,
          },
        ];
      }

      // Add native token to token prices
      tokenPrices = [
        ...tokenPrices,
        {
          token: findTokenByAddress(environment, zeroAddress)!,
          tokenPrice: nativeTokenPrice,
        },
      ];

      const vaultConfig = environment?.config.vaults[vault.vaultKey];

      if (!environment || !vaultConfig || !vaultConfig.multiReward) {
        continue;
      }

      const rewards = await getRewardsData(
        environment,
        vaultConfig.multiReward,
      );

      const distributorTotalSupply = await getTotalSupplyData(
        environment,
        vaultConfig.multiReward,
      );

      rewards
        .filter(
          (reward) =>
            reward?.periodFinish &&
            dayjs.utc().isBefore(dayjs.unix(Number(reward.periodFinish))),
        )
        .forEach((reward) => {
          const token = Object.values(environment.config.tokens).find(
            (token) => token.address === reward?.token,
          );
          if (!token || !reward?.rewardRate) return;

          const market = tokenPrices.find(
            (m) => m?.token.address === reward.token,
          );

          const rewardPriceUsd = market?.tokenPrice.value ?? 0;

          const rewardsPerYear =
            new Amount(reward.rewardRate, market?.token.decimals ?? 18).value *
            SECONDS_PER_YEAR *
            rewardPriceUsd;

          vault.stakingRewards.push({
            apr:
              (rewardsPerYear /
                (new Amount(distributorTotalSupply, vault.vaultToken.decimals)
                  .value *
                  vault.underlyingPrice)) *
              100,
            token: token,
          });
        });

      vault.stakingRewardsApr = vault.stakingRewards.reduce(
        (acc, curr) => acc + curr.apr,
        0,
      );
      vault.totalStakingApr = vault.stakingRewardsApr + vault.baseApy;
    }

    const vaults = Object.values(result)
      .flat()
      .filter((vault) => {
        const environment = params.environments.find(
          (environment) => environment.chainId === vault.chainId,
        );
        return environment?.custom.morpho?.minimalDeployment === false;
      });

    const rewards = await getMorphoVaultsRewards(
      vaults,
      params.currentChainRewardsOnly,
    );

    vaults.forEach((vault) => {
      const vaultRewards = rewards.find(
        (reward) =>
          reward.vaultToken.address === vault.vaultToken.address &&
          reward.chainId === vault.chainId,
      );

      vault.rewards =
        vaultRewards?.rewards
          .filter((reward) => reward.marketId === undefined)
          .map((reward) => ({
            asset: reward.asset,
            supplyApr: reward.supplyApr,
            supplyAmount: reward.supplyAmount,
            borrowApr: reward.borrowApr,
            borrowAmount: reward.borrowAmount,
          })) || [];

      vault.markets.forEach((market) => {
        const marketRewards =
          vaultRewards?.rewards
            .filter((reward) => reward.marketId === market.marketId)
            .map((reward) => ({
              asset: reward.asset,
              supplyApr: reward.supplyApr,
              supplyAmount: reward.supplyAmount,
              borrowApr: reward.borrowApr,
              borrowAmount: reward.borrowAmount,
            })) || [];

        market.rewards = marketRewards;
        market.rewards.forEach((reward) => {
          const supplyApr = reward.supplyApr * market.allocation;
          const supplyAmount = reward.supplyAmount * market.allocation;

          const vaultReward = vault.rewards.find(
            (r) => r.asset.address === reward.asset.address,
          );
          if (vaultReward) {
            vaultReward.supplyApr += supplyApr;
            vaultReward.supplyAmount += supplyAmount;
          } else {
            vault.rewards.push({
              asset: reward.asset,
              supplyApr,
              supplyAmount,
              borrowApr: 0,
              borrowAmount: 0,
            });
          }
        });
      });

      vault.rewardsApy = vault.rewards.reduce(
        (acc, curr) => acc + curr.supplyApr,
        0,
      );

      vault.totalApy = vault.rewardsApy + vault.baseApy;
    });
  }

  return environments.flatMap((environment) => {
    return result[environment.chainId] || [];
  });
}

const getRewardsData = async (
  environment: Environment,
  multiRewardsAddress: Address,
) => {
  if (!environment.custom.multiRewarder) {
    return [];
  }

  const multiRewardAbi = parseAbi([
    "function rewardData(address token) view returns (address, uint256, uint256, uint256, uint256, uint256)",
  ]);

  const multiRewardContract = getContract({
    address: multiRewardsAddress,
    abi: multiRewardAbi,
    client: environment.publicClient,
  });

  const rewards = await Promise.all(
    environment.custom.multiRewarder.map(async (multiRewarder) => {
      const tokenAddress =
        environment.tokens[multiRewarder.rewardToken].address;

      if (!tokenAddress) {
        return;
      }

      try {
        const rewardData = await multiRewardContract.read.rewardData([
          tokenAddress,
        ]);
        return {
          rewardRate: BigInt(rewardData[3]),
          token: tokenAddress,
          periodFinish: BigInt(rewardData[2]),
        };
      } catch {
        return { rewardRate: 0n, token: tokenAddress };
      }
    }),
  );

  return rewards.filter(Boolean);
};

const getTotalSupplyData = async (
  environment: Environment,
  multiRewardsAddress: Address,
) => {
  if (!environment.custom.multiRewarder) {
    return 0n;
  }

  const multiRewardAbi = parseAbi([
    "function totalSupply() view returns (uint256)",
  ]);

  const multiRewardContract = getContract({
    address: multiRewardsAddress,
    abi: multiRewardAbi,
    client: environment.publicClient,
  });
  try {
    const totalSupply = await multiRewardContract.read.totalSupply();
    return BigInt(totalSupply);
  } catch {
    return 0n;
  }
};

const getTotalAssetsData = async (
  environment: Environment,
  multiRewardsAddress: Address,
) => {
  if (!environment.custom.multiRewarder) {
    return 0n;
  }

  const multiRewardAbi = parseAbi([
    "function totalAssets() view returns (uint256)",
  ]);

  const multiRewardContract = getContract({
    address: multiRewardsAddress,
    abi: multiRewardAbi,
    client: environment.publicClient,
  });
  try {
    const totalAssets = await multiRewardContract.read.totalAssets();
    return BigInt(totalAssets);
  } catch {
    return 0n;
  }
};

type GetMorphoVaultsRewardsResult = {
  chainId: number;
  vaultToken: TokenConfig;
  rewards: MorphoReward[];
};

export async function getMorphoVaultsRewards(
  vaults: MorphoVault[],
  currentChainRewardsOnly?: boolean,
): Promise<GetMorphoVaultsRewardsResult[]> {
  const query = `
  {
    vaults(
      where: { address_in: [${vaults.map((vault) => `"${vault.vaultToken.address}"`).join(",")}], chainId_in: [${vaults.map((vault) => vault.chainId).join(",")}] }
    ) {
      items {
        chain {
          id
        }
        id
        address
        asset {
          priceUsd
        }
        state {
          rewards {
            asset {
              address
              symbol
              decimals
              name
              chain {
                id
              }
            }
            supplyApr
            amountPerSuppliedToken
          }
        }
      }
    }
    marketPositions(
      where: { userAddress_in: [${vaults.map((vault) => `"${vault.vaultToken.address}"`).join(",")}], chainId_in: [${vaults.map((vault) => vault.chainId).join(",")}] }
    ) {
      items {
        user {
          address
        }
        market {
          morphoBlue {
            chain {
              id
            }
          }
          uniqueKey
          loanAsset {
            priceUsd
          }
          state {
            rewards {
              asset {
                address
                symbol
                decimals
                name
                chain {
                  id
                }
              }
              supplyApr
              amountPerSuppliedToken
            }
          }
        }
      }
    }
  } `;

  const result = await getGraphQL<{
    vaults: {
      items: {
        chain: {
          id: number;
        };
        id: string;
        address: Address;
        asset: {
          priceUsd: number;
        };
        state: {
          rewards: {
            asset: {
              address: Address;
              symbol: string;
              decimals: number;
              name: string;
              chain: {
                id: number;
              };
            };
            supplyApr: number;
            amountPerSuppliedToken: string;
          }[];
        };
      }[];
    };
    marketPositions: {
      items: {
        user: {
          address: Address;
        };
        market: {
          morphoBlue: {
            chain: {
              id: number;
            };
          };
          uniqueKey: string;
          loanAsset: {
            priceUsd: number;
          };
          state: {
            rewards: {
              asset: {
                address: Address;
                symbol: string;
                decimals: number;
                name: string;
                chain: {
                  id: number;
                };
              };
              supplyApr: number;
              amountPerSuppliedToken: string;
            }[];
          };
        };
      }[];
    };
  }>(query);

  if (result) {
    try {
      const marketsRewards = result.marketPositions.items.flatMap((item) => {
        const rewards = (item.market.state?.rewards || []).map((reward) => {
          const tokenAmountPer1000 =
            (Number.parseFloat(reward.amountPerSuppliedToken) /
              item.market.loanAsset.priceUsd) *
            1000;
          const tokenDecimals = 10 ** reward.asset.decimals;
          const amount = Number(tokenAmountPer1000) / tokenDecimals;

          return {
            chainId: reward.asset.chain.id,
            vaultId: item.user.address,
            marketId: item.market.uniqueKey,
            asset: reward.asset,
            supplyApr: (reward.supplyApr || 0) * 100,
            supplyAmount: amount,
            borrowApr: 0,
            borrowAmount: 0,
          };
        });
        return rewards;
      });

      const vaultsRewards = result.vaults.items.flatMap((item) => {
        return (item.state?.rewards || []).map((reward) => {
          const tokenAmountPer1000 =
            (Number.parseFloat(reward.amountPerSuppliedToken) /
              item.asset.priceUsd) *
            1000;
          const tokenDecimals = 10 ** reward.asset.decimals;
          const amount = Number(tokenAmountPer1000) / tokenDecimals;

          return {
            chainId: reward.asset.chain.id,
            vaultId: item.address,
            marketId: undefined,
            asset: reward.asset,
            supplyApr: (reward.supplyApr || 0) * 100,
            supplyAmount: amount,
            borrowApr: 0,
            borrowAmount: 0,
          };
        });
      });

      const rewards = [...marketsRewards, ...vaultsRewards];

      return vaults.map((vault) => {
        return {
          chainId: vault.chainId,
          vaultToken: vault.vaultToken,
          rewards: rewards
            .filter(
              (reward) =>
                reward.vaultId === vault.vaultToken.address &&
                (reward.chainId === vault.chainId || !currentChainRewardsOnly),
            )
            .map((reward) => {
              return {
                marketId: reward.marketId,
                asset: reward.asset,
                supplyApr: reward.supplyApr,
                supplyAmount: reward.supplyAmount,
                borrowApr: reward.borrowApr,
                borrowAmount: reward.borrowAmount,
              };
            }),
        };
      });
    } catch (ex) {
      return vaults.map((vault) => {
        return {
          chainId: vault.chainId,
          vaultToken: vault.vaultToken,
          rewards: [],
        };
      });
    }
  } else {
    return vaults.map((vault) => {
      return {
        chainId: vault.chainId,
        vaultToken: vault.vaultToken,
        rewards: [],
      };
    });
  }
}