@1delta/margin-fetcher 0.0.34 → 0.0.36

package/src/lending/morpho/constants/markets.ts

@@ -0,0 +1,64 @@
+import { Chain } from '@1delta/chain-registry'
+
+export const MORPHO_MARKETS: { [chain: string]: string[] } = {
+  [Chain.HYPEREVM]: [
+    '0xf9f0473b23ebeb82c83078f0f0f77f27ac534c9fb227cb4366e6057b6163ffbf',
+    '0xb5b215bd2771f5ed73125bf6a02e7b743fadc423dfbb095ad59df047c50d3e81',
+    '0x64e7db7f042812d4335947a7cdf6af1093d29478aff5f1ccd93cc67f8aadfddc',
+    '0xc0a3063a0a7755b7d58642e9a6d3be1c05bc974665ef7d3b158784348d4e17c5',
+    '0x78f6b57d825ef01a5dc496ad1f426a6375c685047d07a30cd07ac5107ffc7976',
+    '0xd2e8f6fd195556222d7a0314d4fb93fdf84ae920faaebba6dbcf584ac865e1f5',
+    '0xd5c5b5db889eb5d4f4026b9704cddffbc1356732a37c2b543330c10756ae7a18',
+    '0xfdece686f16877984325c7a1c192e0f18862bae3829d000a1a62b5bc2b31d4ef',
+    '0x076689a210adf3fdaa54e8ed452615ed641ba0d985f95e1376c3df3017d62878',
+    '0x0bb2900086fe38fa9633c664e1f955eb8dcf66a81174967e83dee867e083a105',
+    '0x0ecf5be1fadf4bec3f79ce196f02a327b507b34d230c0f033f4970b1b510119c',
+    '0x15f505f8dda26a523f7490ad0322f3ed4f325a54fd50832bc65e4bd75e3dca54',
+    '0x19bbcc95b876740c0765ed1e4bac1979c4aea1b4bfbfee0e61dc1fe76a6887dc',
+    '0x19e47d37453628ebf0fd18766ce6fee1b08ea46752a5da83ca0bfecb270d07e8',
+    '0x1c6b87ae1b97071ef444eedcba9f5a92cfe974edbbcaa1946644fc7ab0e283af',
+    '0x1da89208e6cb5173e97a83461853b8400de4f7c37542cf010a10579a5f7ca451',
+    '0x216bd19960f140177a4a3fb9cf258edcbadb1f5d54740fc944503bff4a00e65e',
+    '0x2acd218c67daa94dd2f92e81f477ffc9f8507319f0f2d698eae5ed631ae14039',
+    '0x2b62c4153d81d5b5a233d1d2b7ef899d3fca4076d458e215ff3a00176b415b0d',
+    '0x31aaa663d718e83ea15326ec110c4bcf5e123585d0b6c4d0ad61a50c4aa65b1e',
+    '0x33c935bb0699b737d9cbd4274b5936a9004eee03ccfa70e266ff7c1513fd4808',
+    '0x5031ac4543f8232df889e5eb24389f8cf9520366f21dc62240017cb3bc6ecc59',
+    '0x53bf81793c2cc384c19a3bc9b032467e179a390a9225cd9542742ac10f539cc2',
+    '0x5ecb7a25d51c870ec57f810c880e3e20743e56d0524575b7b8934a778aaec1af',
+    '0x5ef35fe4418a6bcfcc70fe32efce30074f22e9a782f81d432c1e537ddbda11e2',
+    '0x65f2a559764859a559d8c39604cf665942bab7d10dfaa1b82e914c9d351038d4',
+    '0x7268244d330f1462f77ded7a14e2f868893e86e76e8b8eaa869405d588aff6ce',
+    '0x83bab0d612f592d0f145b2ec82fd730144dfb3d72c8fc838b27555558e49c496',
+    '0x8eb8cfe3b1ac8f653608ae09fb099263fa2fe25d4a59305c309937292c2aeee9',
+    '0x964e7d1db11bdf32262c71274c297dcdb4710d73acb814f04fdca8b0c7cdf028',
+    '0x9e28003bb5c29c1df3552e99b04d656fadf1aedaf81256637dcc51d91cf6c639',
+    '0xa24d04c3aff60d49b3475f0084334546cbf66182e788b6bf173e6f9990b2c816',
+    '0xa62327642e110efd38ba2d153867a8625c8dc40832e1d211ba4f4151c3de9050',
+    '0xa7fe39c692f0192fb2f281a6cc16c8b2e1c8f9b9f2bc418e0c0c1e9374bf4b04',
+    '0xb142d65d7c624def0a9f4b49115b83f400a86bd2904d4f3339ec4441e28483ea',
+    '0xb5b575e402c7c19def8661069c39464c8bf3297b638e64d841b09a4eb2807de5',
+    '0xbc15a1782163f4be46c23ac61f5da50fed96ad40293f86a5ce0501ce4a246b32',
+    '0xc5526286d537c890fdd879d17d80c4a22dc7196c1e1fff0dd6c853692a759c62',
+    '0xc59a3f8a3918d89ebef44ee1dcda435719f543cfd3f37ead7e74852ea5931581',
+    '0xd173e9d80aeacac486b46a9a849ecb386cec260cc7dd5be0db3505a0f9f93fb5',
+    '0xdb2cf3ad3ef91c9bb673bf35744e7141bc2950b27a75c8d11b0ead9f6742d927',
+    '0xe0ede98b4425285a9c93d51f8ba27d9a09bc0033874e4a883d3f29d41f9f2e4a',
+    '0xe41ace68f2de7be8e47185b51ddc23d4a58aac4ce9f8cc5f9384fe26f2104ec8',
+    '0xebeabb17bd69d4b8ed6929a821d69478b564f4cc604d0995944c9da8b5cb3f04',
+    '0xed00791e29eb08c9bc0d8b389fe1f00084699baf2a785ba2a42e915706b17b82',
+    '0xf25db2433ae650155eae04ebd8b3795d19bfcb318d22926a8a5e746e8028e0a8',
+  ],
+  [Chain.OP_MAINNET]: [
+    '0x173b66359f0741b1c7f1963075cd271c739b6dc73b658e108a54ce6febeb279b',
+    '0x67840b3ace736fe47ab919ad003e0330da50536f61f9fcb96af80d0f37a57070',
+    '0xc7ae57c1998c67a4c21804df606db1309b68a518ba5acc8b1dc3ffcb1b26b071',
+  ],
+  [Chain.SONEIUM]: [
+    '0xc35eda4e57363a5679949be05c65b81c2c274bfcd21173344d99726147236614',
+    '0x80a26251892573c16d88f2aabd447bc46d918daa035e1bbaedc9ca315bfb3275',
+    '0x87f0a5e65f1cfb879d2d5e7300691332ba227f3babe8fbd4bd2cbca862d8ae5e',
+    '0xebaf3dc6fa2fb3f78d18c87adcc37c06fe64874c5b2d69619ef7696088780df9',
+    '0x5869019d7ec9f92db2e90c0156b542cda7c0a679c626eac842aa5117a0483d4a',
+  ],
+}

package/src/lending/morpho/convertPublic.ts

@@ -1,4 +1,3 @@
-import { formatUnits } from 'viem'
 import {
   MorphoGeneralPublicResponse,
   RewardsMap,
@@ -7,18 +6,7 @@ import {
 import { apyToApr } from '../user-data/utils'
 import { AdditionalYields } from '../../types'
 import { GenericTokenList } from '../types'
-
-function parseLtv(ltv: number | string) {
-  let str = 0
-  try {
-    str = Number(formatUnits(BigInt(ltv), 18))
-  } catch (e) {}
-  return str
-}
-
-function formatNr(n: string, d: number) {
-  return Number(formatUnits(BigInt(n ?? 0), d))
-}
+import { formatNr, parseLtv } from './utils/parsers'
 
 export function convertMarketsToMorphoResponse(
   response: GetMarketsResponse,
@@ -112,7 +100,7 @@ export function convertMarketsToMorphoResponse(
         ),
         totalDebtStable: 0,
         totalDebt: 0,
-        totalLiquidity: 0,
+        totalLiquidity: formatNr(state.collateralAssets, collateralAsset.decimals),
         totalLiquidityUSD: Number(state.collateralAssetsUsd),
         totalDepositsUSD: Number(state.collateralAssetsUsd),
         totalDebtStableUSD: 0,

package/src/lending/morpho/getMarketsFromChain.ts

@@ -0,0 +1,402 @@
+import { morphoPools } from '@1delta/data-sdk'
+import { getEvmClient } from '@1delta/providers'
+import { formatEther, parseAbi } from 'viem'
+import { MORPHO_LENS } from '../user-data/morpho/userCallBuild'
+import { decodeMarkets } from './utils/evmParser'
+import { AdditionalYields } from '../../types'
+import { GenericTokenList } from '../types'
+import { formatNr, parseLtv } from './utils/parsers'
+import { MorphoGeneralPublicResponse } from './types'
+import { toGenericPriceKey, toOracleKey } from '../../assets'
+import { MathLib } from './utils/mathLib'
+import { apyToApr } from '../user-data/utils'
+import { formatMorphoPrice } from '../../utils/parsing'
+import { MORPHO_MARKETS } from './constants/markets'
+
+export async function getMarkets(
+  chainId: string,
+  markets: string[],
+  additionalYields: AdditionalYields = {
+    intrinsicYields: {},
+    lenderRewards: {},
+    loaded: true,
+  },
+  tokens: GenericTokenList = {},
+  prices: any,
+) {
+  const abi = parseAbi([
+    'function getMarketDataCompact(address morpho, bytes32[] calldata marketsIds) external view returns (bytes memory data)',
+  ])
+  const provider = getEvmClient(chainId)
+
+  const mb = morphoPools()?.MORPHO_BLUE?.[chainId]
+  if (!mb) return []
+
+  const returnData = await provider.simulateContract({
+    abi,
+    functionName: 'getMarketDataCompact',
+    address: MORPHO_LENS[chainId] as any,
+    args: [mb, markets] as any,
+  })
+
+  const decoded = decodeMarkets(returnData.result ?? '0x')
+
+  const data: { [m: string]: MorphoGeneralPublicResponse } = {}
+  decoded.forEach((market, i) => {
+    const uniqueKey = markets[i]
+    const { lltv, irm, oracle, loanToken, collateralToken, ...state } = market
+    if (collateralToken && loanToken && oracle) {
+      const m = 'MORPHO_BLUE_' + uniqueKey.slice(2).toUpperCase()
+      // @ts-ignore
+      if (!data[m]) data[m] = { data: {} }
+      // 1. LOAN asset entry
+      const loanRewards: any = {}
+
+      // state.rewards?.forEach((reward) => {
+      //     loanRewards[reward.asset.address] = {
+      //         depositRate: formatNr(reward.amountPerSuppliedToken, reward.asset.decimals),
+      //         variableBorrowRate: formatNr(reward.amountPerBorrowedToken, reward.asset.decimals),
+      //         stableBorrowRate: 0,
+      //     }
+      // })
+
+      // get assets from list
+      const loanAsset = tokens[loanToken.toLowerCase()]
+      const collateralAsset = tokens[collateralToken.toLowerCase()]
+
+      const loanKey =
+        toOracleKey(loanAsset?.assetGroup!) ??
+        toGenericPriceKey(loanAsset.address, chainId)
+
+      let loanPrice = prices[loanKey]
+
+      // try to infer loan price from collateral price if any
+      if (!loanPrice) {
+        const collateralKey =
+          toOracleKey(collateralAsset?.assetGroup!) ??
+          toGenericPriceKey(collateralAsset.address, chainId)
+        const collateralPrice = prices[collateralKey]
+        // get debt price by collateral price
+        if (collateralPrice) {
+          const priceDebtToCollateral = formatMorphoPrice(
+            state.price.toString(),
+            loanAsset.decimals,
+            collateralAsset.decimals,
+          )
+          loanPrice = collateralPrice / priceDebtToCollateral
+        }
+      }
+
+      const loanTokenAddress = loanAsset.address.toLowerCase()
+
+      const meta = tokens[loanTokenAddress] ?? loanAsset
+      const totalDeposits = formatNr(
+        state.totalSupplyAssets,
+        loanAsset.decimals,
+      )
+      const totalDebt = formatNr(state.totalBorrowAssets, loanAsset.decimals)
+
+      const utilization = MathLib.getUtilization({
+        totalBorrowAssets: state.totalBorrowAssets,
+        totalSupplyAssets: state.totalSupplyAssets,
+      })
+
+      let borrowApy = 0n
+      let supplyApy = 0n
+
+      try {
+        borrowApy = MathLib.getBorrowApy(
+          state.rateAtTarget,
+          utilization,
+          undefined,
+          Number(state.lastUpdate),
+        )
+        supplyApy = MathLib.getSupplyApy(borrowApy, utilization, state.fee)
+      } catch {}
+      const borrowApr = apyToApr(Number(formatEther(borrowApy))) * 100
+      const depositApr = apyToApr(Number(formatEther(supplyApy))) * 100
+
+      data[m].data[loanTokenAddress] = {
+        poolId: loanTokenAddress,
+        underlying: loanTokenAddress,
+        asset: meta,
+        totalDeposits,
+        totalDebtStable: 0,
+        totalDebt,
+        totalDepositsUSD: totalDeposits * loanPrice,
+        totalDebtStableUSD: 0,
+        totalLiquidity: totalDeposits - totalDebt,
+        totalLiquidityUSD: (totalDeposits - totalDebt) * loanPrice,
+        totalDebtUSD: totalDebt * loanPrice,
+        depositRate: depositApr,
+        variableBorrowRate: borrowApr,
+        stableBorrowRate: 0,
+        stakingYield: additionalYields.intrinsicYields[meta?.assetGroup] ?? 0,
+        rewards: Object.keys(loanRewards).length > 0 ? loanRewards : undefined,
+        decimals: loanAsset.decimals,
+        config: {
+          0: {
+            category: 0,
+            borrowCollateralFactor: 0,
+            collateralFactor: 0,
+            borrowFactor: 1,
+          },
+        },
+        collateralActive: false,
+        borrowingEnabled: true,
+        hasStable: false,
+        isActive: true,
+        isFrozen: false,
+      }
+
+      const ltv = parseLtv(lltv)
+
+      const collateralAssetAddress = collateralAsset.address.toLowerCase()
+      const metaCollateral = tokens[collateralAssetAddress] ?? collateralAsset
+      // 2. COLLATERAL asset entry
+      data[m].data[collateralAssetAddress] = {
+        poolId: collateralAssetAddress,
+        underlying: collateralAssetAddress,
+        asset: metaCollateral,
+        totalDeposits: 0, // we do not have these metrics when querying on-chain
+        totalDebtStable: 0,
+        totalDebt: 0,
+        totalLiquidity: 0,
+        totalLiquidityUSD: 0,
+        totalDepositsUSD: 0,
+        totalDebtStableUSD: 0,
+        totalDebtUSD: 0,
+        depositRate: 0,
+        variableBorrowRate: 0,
+        stableBorrowRate: 0,
+        stakingYield:
+          additionalYields.intrinsicYields[metaCollateral?.assetGroup] ?? 0,
+        rewards: undefined,
+        decimals: collateralAsset.decimals,
+        config: {
+          0: {
+            category: 0,
+            borrowCollateralFactor: ltv,
+            collateralFactor: ltv,
+            borrowFactor: 1,
+          },
+        },
+        collateralActive: true,
+        borrowingEnabled: false,
+        hasStable: false,
+        isActive: true,
+        isFrozen: false,
+      }
+
+      data[m].params = {
+        market: {
+          lender: m,
+          collateralDecimals: collateralAsset.decimals,
+          loanDecimals: loanAsset.decimals,
+          id: uniqueKey,
+          lltv: lltv.toString(),
+          oracle: oracle,
+          irm: irm,
+          collateralAddress: collateralAssetAddress,
+          loanAddress: loanTokenAddress,
+        },
+      }
+      data[m].chainId = chainId
+    }
+  })
+
+  return data
+}
+
+export function getMorphoMarketDataConverter(
+  lender: string,
+  chainId: string,
+  prices: any,
+  additionalYields: AdditionalYields = {
+    intrinsicYields: {},
+    lenderRewards: {},
+    loaded: true,
+  },
+  tokens: GenericTokenList = {},
+): [(data: any[]) => any | undefined, number] {
+  const markets = MORPHO_MARKETS[chainId] ?? []
+  return [
+    (rData: any[]) => {
+      const decoded = decodeMarkets(rData[0] ?? '0x')
+
+      const data: { [m: string]: MorphoGeneralPublicResponse } = {}
+      decoded.forEach((market, i) => {
+        const uniqueKey = markets[i]
+        const { lltv, irm, oracle, loanToken, collateralToken, ...state } =
+          market
+        if (collateralToken && loanToken && oracle) {
+          const m = 'MORPHO_BLUE_' + uniqueKey.slice(2).toUpperCase()
+          // @ts-ignore
+          if (!data[m]) data[m] = { data: {} }
+          // 1. LOAN asset entry
+          const loanRewards: any = {}
+
+          // state.rewards?.forEach((reward) => {
+          //     loanRewards[reward.asset.address] = {
+          //         depositRate: formatNr(reward.amountPerSuppliedToken, reward.asset.decimals),
+          //         variableBorrowRate: formatNr(reward.amountPerBorrowedToken, reward.asset.decimals),
+          //         stableBorrowRate: 0,
+          //     }
+          // })
+
+          // get assets from list
+          const loanAsset = tokens[loanToken.toLowerCase()]
+          const collateralAsset = tokens[collateralToken.toLowerCase()]
+
+          const loanKey =
+            toOracleKey(loanAsset?.assetGroup!) ??
+            toGenericPriceKey(loanAsset.address, chainId)
+
+          let loanPrice = prices[loanKey]
+
+          // try to infer loan price from collateral price if any
+          if (!loanPrice) {
+            const collateralKey =
+              toOracleKey(collateralAsset?.assetGroup!) ??
+              toGenericPriceKey(collateralAsset.address, chainId)
+            const collateralPrice = prices[collateralKey]
+            // get debt price by collateral price
+            if (collateralPrice) {
+              const priceDebtToCollateral = formatMorphoPrice(
+                state.price.toString(),
+                loanAsset.decimals,
+                collateralAsset.decimals,
+              )
+              loanPrice = collateralPrice / priceDebtToCollateral
+            }
+          }
+
+          const loanTokenAddress = loanAsset.address.toLowerCase()
+
+          const meta = tokens[loanTokenAddress] ?? loanAsset
+          const totalDeposits = formatNr(
+            state.totalSupplyAssets,
+            loanAsset.decimals,
+          )
+          const totalDebt = formatNr(
+            state.totalBorrowAssets,
+            loanAsset.decimals,
+          )
+
+          const utilization = MathLib.getUtilization({
+            totalBorrowAssets: state.totalBorrowAssets,
+            totalSupplyAssets: state.totalSupplyAssets,
+          })
+
+          let borrowApy = 0n
+          let supplyApy = 0n
+
+          try {
+            borrowApy = MathLib.getBorrowApy(
+              state.rateAtTarget,
+              utilization,
+              undefined,
+              Number(state.lastUpdate),
+            )
+            supplyApy = MathLib.getSupplyApy(borrowApy, utilization, state.fee)
+          } catch {}
+          const borrowApr = apyToApr(Number(formatEther(borrowApy))) * 100
+          const depositApr = apyToApr(Number(formatEther(supplyApy))) * 100
+
+          data[m].data[loanTokenAddress] = {
+            poolId: loanTokenAddress,
+            underlying: loanTokenAddress,
+            asset: meta,
+            totalDeposits,
+            totalDebtStable: 0,
+            totalDebt,
+            totalDepositsUSD: totalDeposits * loanPrice,
+            totalDebtStableUSD: 0,
+            totalLiquidity: totalDeposits - totalDebt,
+            totalLiquidityUSD: (totalDeposits - totalDebt) * loanPrice,
+            totalDebtUSD: totalDebt * loanPrice,
+            depositRate: depositApr,
+            variableBorrowRate: borrowApr,
+            stableBorrowRate: 0,
+            stakingYield:
+              additionalYields.intrinsicYields[meta?.assetGroup] ?? 0,
+            rewards:
+              Object.keys(loanRewards).length > 0 ? loanRewards : undefined,
+            decimals: loanAsset.decimals,
+            config: {
+              0: {
+                category: 0,
+                borrowCollateralFactor: 0,
+                collateralFactor: 0,
+                borrowFactor: 1,
+              },
+            },
+            collateralActive: false,
+            borrowingEnabled: true,
+            hasStable: false,
+            isActive: true,
+            isFrozen: false,
+          }
+
+          const ltv = parseLtv(lltv)
+
+          const collateralAssetAddress = collateralAsset.address.toLowerCase()
+          const metaCollateral =
+            tokens[collateralAssetAddress] ?? collateralAsset
+          // 2. COLLATERAL asset entry
+          data[m].data[collateralAssetAddress] = {
+            poolId: collateralAssetAddress,
+            underlying: collateralAssetAddress,
+            asset: metaCollateral,
+            totalDeposits: 0, // we do not have these metrics when querying on-chain
+            totalDebtStable: 0,
+            totalDebt: 0,
+            totalLiquidity: 0,
+            totalLiquidityUSD: 0,
+            totalDepositsUSD: 0,
+            totalDebtStableUSD: 0,
+            totalDebtUSD: 0,
+            depositRate: 0,
+            variableBorrowRate: 0,
+            stableBorrowRate: 0,
+            stakingYield:
+              additionalYields.intrinsicYields[metaCollateral?.assetGroup] ?? 0,
+            rewards: undefined,
+            decimals: collateralAsset.decimals,
+            config: {
+              0: {
+                category: 0,
+                borrowCollateralFactor: ltv,
+                collateralFactor: ltv,
+                borrowFactor: 1,
+              },
+            },
+            collateralActive: true,
+            borrowingEnabled: false,
+            hasStable: false,
+            isActive: true,
+            isFrozen: false,
+          }
+
+          data[m].params = {
+            market: {
+              lender: m,
+              collateralDecimals: collateralAsset.decimals,
+              loanDecimals: loanAsset.decimals,
+              id: uniqueKey,
+              lltv: lltv.toString(),
+              oracle: oracle,
+              irm: irm,
+              collateralAddress: collateralAssetAddress,
+              loanAddress: loanTokenAddress,
+            },
+          }
+          data[m].chainId = chainId
+        }
+      })
+
+      return data
+    },
+    markets.length > 0 ? 1 : 0,
+  ]
+}

package/src/lending/morpho/publicCallBuild.ts

@@ -1,4 +1,7 @@
+import { morphoPools } from '@1delta/data-sdk'
 import { AdditionalYields } from '../../types'
+import { MORPHO_LENS } from '../user-data/morpho/userCallBuild'
+import { MORPHO_MARKETS } from './constants/markets'
 import { convertMarketsToMorphoResponse } from './convertPublic'
 import { fetchMorphoMarkets } from './fetchPublic'
 
@@ -13,3 +16,17 @@ export async function fetchMorphoPublicData(
   const mbData = await fetchMorphoMarkets(chainId)
   return convertMarketsToMorphoResponse(mbData, chainId, yields)
 }
+
+export function buildMorphoCall(chainId: string) {
+  const markets = MORPHO_MARKETS[chainId] ?? []
+  const mb = morphoPools()?.MORPHO_BLUE?.[chainId]
+  if (!mb || markets.length === 0) return []
+
+  return [
+    {
+      address: MORPHO_LENS[chainId],
+      name: 'getMarketDataCompact',
+      params: [mb, markets],
+    },
+  ]
+}

package/src/lending/morpho/utils/evmParser.ts

@@ -0,0 +1,122 @@
+type Market = {
+  loanToken: string;          // 20 bytes (EVM address, hex)
+  collateralToken: string;    // 20 bytes (EVM address, hex)
+  oracle: string;             // 20 bytes (EVM address, hex)
+  irm: string;                // 20 bytes (EVM address, hex)
+  lltv: bigint;               // 16 bytes
+  price: bigint;              // 32 bytes
+  rateAtTarget: bigint;       // 32 bytes
+  totalSupplyAssets: bigint;  // 16 bytes
+  totalSupplyShares: bigint;  // 16 bytes
+  totalBorrowAssets: bigint;  // 16 bytes
+  totalBorrowShares: bigint;  // 16 bytes
+  lastUpdate: bigint;         // 16 bytes
+  fee: bigint;                // 16 bytes
+};
+
+const FIELD_SIZES = {
+  addr: 20,
+  u128: 16,
+  u256: 32,
+};
+
+const RECORD_SIZE =
+  4 * FIELD_SIZES.addr +                         // loanToken, collateralToken, oracle, irm
+  1 * FIELD_SIZES.u128 +                         // lltv
+  2 * FIELD_SIZES.u256 +                         // price, rateAtTarget
+  5 * FIELD_SIZES.u128 +                         // totals (4) + lastUpdate
+  1 * FIELD_SIZES.u128;                          // fee
+// = 256 bytes
+
+/**
+ * Decode packed markets bytes into typed objects.
+ * Integers are parsed as big-endian BigInt. Addresses are 0x-prefixed lowercase hex.
+ */
+export function decodeMarkets(input: string | Uint8Array): Market[] {
+  const bytes = normalizeToBytes(input);
+
+  if (bytes.length % RECORD_SIZE !== 0) {
+    throw new Error(
+      `Invalid data length ${bytes.length}; not a multiple of ${RECORD_SIZE} bytes per record`
+    );
+  }
+
+  const markets: Market[] = [];
+  for (let i = 0; i < bytes.length; i += RECORD_SIZE) {
+    let o = i;
+
+    const loanToken        = readAddress(bytes, o, FIELD_SIZES.addr); o += FIELD_SIZES.addr;
+    const collateralToken  = readAddress(bytes, o, FIELD_SIZES.addr); o += FIELD_SIZES.addr;
+    const oracle           = readAddress(bytes, o, FIELD_SIZES.addr); o += FIELD_SIZES.addr;
+    const irm              = readAddress(bytes, o, FIELD_SIZES.addr); o += FIELD_SIZES.addr;
+
+    const lltv             = readUintBE(bytes, o, FIELD_SIZES.u128);  o += FIELD_SIZES.u128;
+    const price            = readUintBE(bytes, o, FIELD_SIZES.u256);  o += FIELD_SIZES.u256;
+    const rateAtTarget     = readUintBE(bytes, o, FIELD_SIZES.u256);  o += FIELD_SIZES.u256;
+
+    const totalSupplyAssets= readUintBE(bytes, o, FIELD_SIZES.u128);  o += FIELD_SIZES.u128;
+    const totalSupplyShares= readUintBE(bytes, o, FIELD_SIZES.u128);  o += FIELD_SIZES.u128;
+    const totalBorrowAssets= readUintBE(bytes, o, FIELD_SIZES.u128);  o += FIELD_SIZES.u128;
+    const totalBorrowShares= readUintBE(bytes, o, FIELD_SIZES.u128);  o += FIELD_SIZES.u128;
+    const lastUpdate       = readUintBE(bytes, o, FIELD_SIZES.u128);  o += FIELD_SIZES.u128;
+    const fee              = readUintBE(bytes, o, FIELD_SIZES.u128);  o += FIELD_SIZES.u128;
+
+    markets.push({
+      loanToken,
+      collateralToken,
+      oracle,
+      irm,
+      lltv,
+      price,
+      rateAtTarget,
+      totalSupplyAssets,
+      totalSupplyShares,
+      totalBorrowAssets,
+      totalBorrowShares,
+      lastUpdate,
+      fee,
+    });
+  }
+
+  return markets;
+}
+
+// ---------- helpers ----------
+
+function normalizeToBytes(input: string | Uint8Array): Uint8Array {
+  if (typeof input !== "string") {
+    return input;
+  }
+  let hex = input.startsWith("0x") ? input.slice(2) : input;
+  if (hex.length % 2 !== 0) throw new Error("Hex string must have even length");
+  const out = new Uint8Array(hex.length / 2);
+  for (let i = 0; i < out.length; i++) {
+    out[i] = parseInt(hex.slice(i * 2, i * 2 + 2), 16);
+  }
+  return out;
+}
+
+function readAddress(bytes: Uint8Array, offset: number, len: number): string {
+  // Addresses are the raw 20 bytes, render as 0x + 40 hex chars (lowercase).
+  const hex = toHex(bytes.subarray(offset, offset + len));
+  return "0x" + hex;
+}
+
+function readUintBE(bytes: Uint8Array, offset: number, len: number): bigint {
+  // Big-endian: (((b0 * 256) + b1) * 256 + ...) pattern.
+  let v = 0n;
+  const end = offset + len;
+  for (let i = offset; i < end; i++) {
+    v = (v << 8n) | BigInt(bytes[i]);
+  }
+  return v;
+}
+
+function toHex(arr: Uint8Array): string {
+  let s = "";
+  for (let i = 0; i < arr.length; i++) {
+    const h = arr[i].toString(16).padStart(2, "0");
+    s += h;
+  }
+  return s;
+}