@1delta/margin-fetcher 5.0.29 → 5.0.30

package/dist/index.js

@@ -1,9 +1,9 @@
 import { parseAbi, keccak256, encodeAbiParameters, formatEther, BaseError, erc20Abi, stringToHex, isAddress, pad, encodeFunctionData, formatUnits, getAddress, decodeFunctionResult, decodeAbiParameters, concat, AbiEncodingLengthMismatchError, concatHex, toBytes, slice, hexToString, InvalidAddressError, boolToHex, integerRegex, numberToHex, bytesRegex, BytesSizeMismatchError, arrayRegex, UnsupportedPackedAbiType } from './chunk-YILYOOYB.js';
 import './chunk-BYTNVMX7.js';
 import './chunk-PR4QN5HX.js';
-import { Lender, isExactly, isMidnight, isTerm, isTermMax, isTeller, isListaDao, isLiquityFamily, isRiver, isInverse, isDssType, isCompoundV3Type, isFluid, isGearboxV3, isLlamaLend, isFrankencoin, isResupply, isCurvance, isFraxlend, LIQUITY_FAMILY_LENDERS, isAaveType, isCompoundV3, isMultiMarket, isSiloV2Type, isSiloV3Type, isDolomite, hasCrossMarginRisk, isEulerType, isAaveV4Type, isInit, isMorphoType, isCompoundV2Type, isVenusType, isSumerType, AAVE_V3_LENDERS, AAVE_V2_LENDERS, isAaveV2Type, isAaveV32Type, isAaveV3Type, isUsdd, isSky, isYLDR, isLista, hasSubAccounts, isTectonicType, isKineticType, isBenqiType } from '@1delta/lender-registry';
+import { Lender, isExactly, isMidnight, isTerm, isTermMax, isTeller, isListaDao, isLiquityFamily, isRiver, isInverse, isDssType, isCompoundV3Type, isFluid, isGearboxV3, isLlamaLend, isFrankencoin, isResupply, isCurvance, isFraxlend, LIQUITY_FAMILY_LENDERS, isAaveType, isCompoundV3, isMultiMarket, isSiloV2Type, isSiloV3Type, isDolomite, hasCrossMarginRisk, isEulerType, isAaveV4Type, isInit, isMorphoType, isCompoundV2Type, isVenusType, isSumerType, AAVE_V3_LENDERS, AAVE_V2_LENDERS, isMorphoBlue, isAaveV2Type, isAaveV32Type, isAaveV3Type, isUsdd, isSky, isYLDR, isLista, hasSubAccounts, isTectonicType, isKineticType, isBenqiType } from '@1delta/lender-registry';
 export { hasCrossMarginRisk, isAaveType, isAaveV2Type, isAaveV32Type, isAaveV3Type, isCompoundV3, isCompoundV3Type, isInit, isMorphoType, isMultiMarket, isYLDR } from '@1delta/lender-registry';
-import { fetchTokenLists, fetchTokenList, aavePools, compoundV3Pools, initConfig, morphoPools, compoundV2Pools, eulerVaults, siloMarkets, siloV2LenderKey, siloMarketsV3, siloV3LenderKey, aaveV4Spokes, aaveV4SpokeLenderKey, fluidResolvers, gearboxResolvers, dolomiteConfigs, midnightConfig, termConfig, termMarketsByChain, exactlyConfig, liquityLendersByChain, riverLendersByChain, inverseLendersByChain, llamaLendLendersByChain, usddLendersByChain, skyLendersByChain, frankencoinLendersByChain, resupplyLendersByChain, curvanceLendersByChain, tellerConfigByChain, tellerPoolsByChain, termMaxConfigByChain, aaveReserves, compoundV3Reserves, liquityConfigFor, liquityBranchesByChain, riverConfigFor, riverChainData, termMaxApiBaseUrl, termMaxLenderKey, inverseConfigFor, inverseChainData, llamaLendConfigFor, llamaLendChainData, llamaLendApiBaseUrl, resupplyConfigFor, fraxlendConfigFor, dssConfigFor, dssChainData, dssDebtToken, dssDebtJoin, frankencoinConfigFor, frankencoinChainData, aaveOracles, morphoTypeMarkets, resolveMidnightApiBase, resolveTermApiBase, llamaLendMarketByVault, getSiloV2MarketEntry, getSiloV3MarketEntry, dolomiteEmode, curvanceConfigFor, aaveTokens, morphoTypeVaults, eulerConfigs, gearboxMarketCompressor, gearboxMarketConfigurators, gearboxV3LenderKey, midnightMarketsByChain, parseAaveV4SpokeLenderKey, fraxlendPairsFor, gearboxAccountCompressor, compoundV2Tokens, exactlyMarketsByChain, aaveOraclesConfig, compoundV2Oracles, compoundV2TokenArray, compoundV2OraclesConfig, compoundV3OraclesData, compoundV3BaseData, compoundV2Reserves, aaveV4Oracles } from '@1delta/data-sdk';
+import { fetchTokenLists, fetchTokenList, aavePools, compoundV3Pools, initConfig, morphoPools, compoundV2Pools, eulerVaults, siloMarkets, siloV2LenderKey, siloMarketsV3, siloV3LenderKey, aaveV4Spokes, aaveV4SpokeLenderKey, fluidResolvers, gearboxResolvers, dolomiteConfigs, midnightConfig, termConfig, termMarketsByChain, exactlyConfig, liquityLendersByChain, riverLendersByChain, inverseLendersByChain, llamaLendLendersByChain, usddLendersByChain, skyLendersByChain, frankencoinLendersByChain, resupplyLendersByChain, curvanceLendersByChain, fraxlendLendersByChain, tellerConfigByChain, tellerPoolsByChain, termMaxConfigByChain, aaveReserves, compoundV3Reserves, liquityConfigFor, liquityBranchesByChain, riverConfigFor, riverChainData, termMaxApiBaseUrl, termMaxLenderKey, inverseConfigFor, inverseChainData, llamaLendConfigFor, llamaLendChainData, llamaLendApiBaseUrl, resupplyConfigFor, fraxlendConfigFor, dssConfigFor, dssChainData, dssDebtToken, dssDebtJoin, frankencoinConfigFor, frankencoinChainData, aaveOracles, morphoTypeMarkets, resolveMidnightApiBase, resolveTermApiBase, llamaLendMarketByVault, getSiloV2MarketEntry, getSiloV3MarketEntry, dolomiteEmode, curvanceConfigFor, aaveTokens, morphoTypeVaults, eulerConfigs, gearboxMarketCompressor, gearboxMarketConfigurators, gearboxV3LenderKey, midnightMarketsByChain, parseAaveV4SpokeLenderKey, fraxlendPairsFor, gearboxAccountCompressor, compoundV2Tokens, exactlyMarketsByChain, aaveOraclesConfig, compoundV2Oracles, compoundV2TokenArray, compoundV2OraclesConfig, compoundV3OraclesData, compoundV3BaseData, compoundV2Reserves, aaveV4Oracles } from '@1delta/data-sdk';
 import lodash from 'lodash';
 import { Chain } from '@1delta/chain-registry';
 import { multicallRetryUniversal, getEvmClient, getEvmChain, getEvmClientUniversal } from '@1delta/providers';
@@ -6436,6 +6436,9 @@ var getLendersForChain = (c) => {
   for (const l of curvanceLendersByChain(c)) {
     lenders.push(l);
   }
+  for (const l of fraxlendLendersByChain(c)) {
+    lenders.push(l);
+  }
   if (tellerConfigByChain(c)?.tellerV2 && tellerPoolsByChain(c).length > 0) {
     lenders.push(Lender.TELLER);
   }
@@ -43887,7 +43890,27 @@ var usddFetcher = {
     return out;
   }
 };
-var FRANKENCOIN_SAVINGS_MODULE = "0x27d9ad987bde08a0d083ef7e0e4043c857a17b38";
+var ZCHF_ETHEREUM = "0xb58e61c3098d85632df34eecfb899a1ed80921cb";
+var ZCHF_BRIDGED = "0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553";
+var FRANKENCOIN_SAVINGS_MODULES = [
+  {
+    chainId: Chain.ETHEREUM_MAINNET,
+    // `savingsReferral`, NOT the config's `savingsV2` — see the header.
+    module: "0x27d9ad987bde08a0d083ef7e0e4043c857a17b38",
+    zchf: ZCHF_ETHEREUM
+  },
+  {
+    chainId: Chain.GNOSIS,
+    module: "0xbf594d0fed79ae56d910cb01b5dd4f4c57b04402",
+    zchf: ZCHF_BRIDGED
+  },
+  {
+    chainId: Chain.BASE,
+    module: "0x6426324af1b14df3cd03b2d500529083c5ea61bc",
+    zchf: ZCHF_BRIDGED
+  }
+];
+FRANKENCOIN_SAVINGS_MODULES[0].module;
 var SAVINGS_INFO_URL = "https://api.frankencoin.com/savings/core/info";
 var RATE_ABI2 = [
   {
@@ -43899,58 +43922,70 @@ var RATE_ABI2 = [
   }
 ];
 var ZCHF_SAVINGS_KEY = "ZCHF_SAVINGS";
+var zchfSavingsKey = (chainId) => chainId === Chain.ETHEREUM_MAINNET ? ZCHF_SAVINGS_KEY : `${ZCHF_SAVINGS_KEY}::${chainId}`;
 var aprFromRatePPM = (ppm) => Number(ppm) / 1e4;
-var fetchRateOnChain = async () => {
+var fetchRateOnChain = async (d) => {
   const [ppm] = await multicallRetryUniversal({
-    chain: Chain.ETHEREUM_MAINNET,
+    chain: d.chainId,
     abi: RATE_ABI2,
-    calls: [
-      {
-        address: FRANKENCOIN_SAVINGS_MODULE,
-        name: "currentRatePPM",
-        params: []
-      }
-    ],
+    calls: [{ address: d.module, name: "currentRatePPM", params: [] }],
     allowFailure: false
   });
   if (ppm === void 0 || ppm === null) {
-    throw new Error("Frankencoin: unreadable currentRatePPM()");
+    throw new Error(`Frankencoin: unreadable currentRatePPM() on ${d.chainId}`);
   }
   return aprFromRatePPM(ppm);
 };
-var fetchRateFromApi = async () => {
+var fetchRatesFromApi = async () => {
   const res = await fetch(SAVINGS_INFO_URL, {
     headers: { accept: "application/json" },
     signal: AbortSignal.timeout(8e3)
   });
   if (!res.ok) throw new Error(`Frankencoin: savings info HTTP ${res.status}`);
   const body = await res.json();
-  const rate = body?.status?.[String(Chain.ETHEREUM_MAINNET)]?.[FRANKENCOIN_SAVINGS_MODULE]?.rate;
-  if (typeof rate !== "number" || !Number.isFinite(rate)) {
-    throw new Error("Frankencoin: savings info carried no rate for the module");
+  const out = {};
+  for (const d of FRANKENCOIN_SAVINGS_MODULES) {
+    const perChain = body?.status?.[d.chainId];
+    if (!perChain) continue;
+    const entry = Object.entries(perChain).find(
+      ([addr3]) => addr3.toLowerCase() === d.module.toLowerCase()
+    )?.[1];
+    const rate = entry?.rate;
+    if (typeof rate === "number" && Number.isFinite(rate)) {
+      out[d.chainId] = aprFromRatePPM(rate);
+    }
   }
-  return aprFromRatePPM(rate);
+  return out;
 };
 var frankencoinSavingsFetcher = {
   label: "FRANKENCOIN_SAVINGS",
   fetch: async () => {
-    const legs = await Promise.allSettled([
-      fetchRateOnChain(),
-      fetchRateFromApi()
+    const [chainLegs, apiLeg] = await Promise.all([
+      Promise.allSettled(FRANKENCOIN_SAVINGS_MODULES.map(fetchRateOnChain)),
+      fetchRatesFromApi().catch((e) => e)
     ]);
-    const onChain = legs[0];
-    if (onChain.status === "fulfilled") {
-      return { [ZCHF_SAVINGS_KEY]: onChain.value };
-    }
-    const api = legs[1];
-    if (api.status === "fulfilled") {
-      return { [ZCHF_SAVINGS_KEY]: api.value };
+    const apiRates = apiLeg instanceof Error ? {} : apiLeg;
+    const out = {};
+    const failures = [];
+    FRANKENCOIN_SAVINGS_MODULES.forEach((d, i) => {
+      const leg = chainLegs[i];
+      if (leg.status === "fulfilled") {
+        out[zchfSavingsKey(d.chainId)] = leg.value;
+        return;
+      }
+      const fromApi = apiRates[d.chainId];
+      if (fromApi !== void 0) {
+        out[zchfSavingsKey(d.chainId)] = fromApi;
+        return;
+      }
+      failures.push(`${d.chainId}: ${String(leg.reason)}`);
+    });
+    if (Object.keys(out).length === 0) {
+      throw new Error(
+        `Frankencoin: every savings module failed (${failures.join("; ")}${apiLeg instanceof Error ? `; api: ${apiLeg.message}` : ""})`
+      );
     }
-    throw new Error(
-      `Frankencoin: both rate legs failed (chain: ${String(
-        onChain.reason
-      )}; api: ${String(api.reason)})`
-    );
+    return out;
   }
 };
 
@@ -45473,6 +45508,32 @@ var sparkV2Base = (symbol, decimals) => ({
   yieldFetcher: sparkSavingsFetcher
 });
 var SPARK_V2_WITHDRAW_INTENTS = "0x592b7db9906e6f8924c4d74c2a0ab86ce44fdddf";
+var frankencoinSavingsBase = {
+  reader: "frankencoin-savings",
+  symbol: "ZCHF",
+  brand: "Frankencoin",
+  description: "ZCHF is Frankencoin's decentralised Swiss-franc stablecoin, minted against collateral in permissionless, auction-policed positions. The savings module pays a governance-set rate funded by borrower interest: deposits are never lent on (they sit segregated inside the module) and interest is minted by the protocol into your balance, so there are no shares and no share price. Withdrawals are instant and uncapped, but interest only starts accruing after 3 days and a top-up restarts that clock pro-rata, so a short stay can earn nothing.",
+  decimals: 18,
+  isRebasing: true,
+  isMintable: true,
+  withdrawalMode: "instant",
+  // The exit is instant; the YIELD is not. `INTEREST_DELAY` is 3 days and a
+  // top-up re-weights the whole position's clock, so a short stay earns zero.
+  yieldWarmupSeconds: 3 * 86400,
+  // `Δticks × saved / 1e6 / 365 days` — linear, compounding only when someone
+  // calls `refresh`.
+  accrual: "linear",
+  // The module is a registered ZCHF minter, so the token already grants it an
+  // implicit infinite allowance — verified on all three chains.
+  needsDepositApproval: false,
+  // Not an assumption: deposits are never lent on. They sit segregated inside
+  // the module (`totalAssets` IS the module's own ZCHF balance) and the exit
+  // is paid from it, so the PRINCIPAL is fully reserved rather than merely
+  // over-collateralised. What is a claim on the protocol is the INTEREST,
+  // which is minted on refresh — stated in the description.
+  solvency: "overcollateralized",
+  yieldFetcher: frankencoinSavingsFetcher
+};
 var ybMarket = (symbol, underlying, underlyingDecimals, address, capacityContract, yieldKey) => ({
   reader: "yieldbasis-lt",
   address,
@@ -46286,48 +46347,37 @@ var SINGLE_CHAIN_ENTRIES = {
       yieldKey: REUSDE_KEY
     },
     {
-      // Frankencoin savings module — a Swiss-franc savings account, not
-      // a vault. There is NO share token: `save(amount)` books ZCHF into
-      // an internal `savings(address)` account and `withdraw(target,
-      // amount)` pays it back out, so the position is a balance that
-      // grows in place (`isRebasing: true`, `exchangeRate` pinned at
-      // par) and the module's own ZCHF balance is the whole book. Hence
-      // the bespoke `frankencoin-savings` reader.
-      //
-      // TRAP — the published address config is stale. `@frankencoin/zchf`
-      // exports `savingsV2 = 0x3BF301B0…`, which now runs at 1 % and
-      // holds 17k ZCHF; the live module is the `savingsReferral`
-      // deployment below, at 3.5 % holding 12.17M (verified on-chain
-      // 2026-08-04, `currentRatePPM() = 35000`). Both answer
-      // `currentRatePPM()`, so only the balance distinguishes them.
+      // Frankencoin savings module, Ethereum — the reference deployment
+      // and 89 % of the 13.66M ZCHF book. See `frankencoinSavingsBase`.
       //
-      // `symbol: 'ZCHF'` is deliberate. `fetchPublic` composes
-      // `displayName` from the *underlying's* token-list symbol
-      // (→ "Frankencoin ZCHF"), so `symbol` only drives `name` and the
-      // ticker a vault list renders — and the honest ticker for a
-      // position denominated 1:1 in ZCHF is ZCHF. Inventing `sZCHF`
-      // would name a token that does not exist, and `svZCHF` is already
-      // taken by an unrelated third-party ERC-4626 wrapper
-      // (0x637f00cA…, ~1 ZCHF of TVL) that would then be conflated with
-      // this row.
+      // TRAP — the published address config is stale HERE and only here.
+      // `@frankencoin/zchf` exports `savingsV2 = 0x3BF301B0…`, which now
+      // runs at 1 % and holds 17k ZCHF; the live module is the
+      // `savingsReferral` deployment below, at 3.5 % holding 12.13M
+      // (re-verified 2026-08-12, `currentRatePPM() = 35000`). Both
+      // answer `currentRatePPM()`, so only the balance distinguishes
+      // them. The bridged chains have no such split.
+      ...frankencoinSavingsBase,
+      address: FRANKENCOIN_SAVINGS_MODULES[0].module,
+      underlying: ZCHF_ETHEREUM,
+      yieldKey: zchfSavingsKey(Chain.ETHEREUM_MAINNET)
+    }
+  ],
+  "100": [
+    {
+      // Frankencoin savings module, Gnosis — 1,257,396 ZCHF at
+      // 2026-08-12, the second-largest after Ethereum and by far the
+      // most active bridged chain (4,853 saves / 13,249 withdrawals).
+      // Its own module contract with its own stored rate, kept at the
+      // Ethereum 35 000 ppm by a CCIP leadrate push.
       //
-      // Exit is instant and never short (withdrawals are paid from the
-      // module's own balance), but the YIELD is not instant:
-      // `INTEREST_DELAY` is 3 days and a top-up re-weights the account's
-      // tick counter, so exiting early can realise ~0 %.
-      reader: "frankencoin-savings",
-      address: "0x27d9ad987bde08a0d083ef7e0e4043c857a17b38",
-      underlying: "0xb58e61c3098d85632df34eecfb899a1ed80921cb",
-      // ZCHF
-      symbol: "ZCHF",
-      brand: "Frankencoin",
-      description: "ZCHF is Frankencoin's decentralised Swiss-franc stablecoin, minted against collateral in permissionless, auction-policed positions. The savings module pays a governance-set rate funded by borrower interest: deposits are never lent on (they sit segregated inside the module) and interest is minted by the protocol into your balance, so there are no shares and no share price. Withdrawals are instant and uncapped, but interest only starts accruing after 3 days and a top-up restarts that clock pro-rata, so a short stay can earn nothing.",
-      decimals: 18,
-      isRebasing: true,
-      isMintable: true,
-      withdrawalMode: "instant",
-      yieldFetcher: frankencoinSavingsFetcher,
-      yieldKey: ZCHF_SAVINGS_KEY
+      // 62.8 % of this book belongs to the `svZCHF` ERC-4626 wrapper —
+      // see the warning on `frankencoinSavingsBase` before adding a row
+      // for it.
+      ...frankencoinSavingsBase,
+      address: FRANKENCOIN_SAVINGS_MODULES[1].module,
+      underlying: ZCHF_BRIDGED,
+      yieldKey: zchfSavingsKey(Chain.GNOSIS)
     }
   ],
   "42161": [
@@ -46364,6 +46414,17 @@ var SINGLE_CHAIN_ENTRIES = {
       withdrawalMode: "request-based",
       yieldFetcher: yoFetcher,
       yieldKey: "Yield Optimizer ETH::YOETH"
+    },
+    {
+      // Frankencoin savings module, Base — 255,196 ZCHF at 2026-08-12.
+      // Note the module address is the SAME on Base and Optimism
+      // (`0x6426324a…`, one CREATE2 family); the Optimism twin holds
+      // 1 ZCHF and is deliberately unregistered — see
+      // `FRANKENCOIN_SAVINGS_MODULES`.
+      ...frankencoinSavingsBase,
+      address: FRANKENCOIN_SAVINGS_MODULES[2].module,
+      underlying: ZCHF_BRIDGED,
+      yieldKey: zchfSavingsKey(Chain.BASE)
     }
   ],
   "43114": [
@@ -53716,7 +53777,7 @@ async function fetchVaultSupplyShares(chainId, core, entries, marketIdsByVault,
   });
   return map;
 }
-function computeVaultAllocation(vaultAddress, decimals, totalAssetsFormatted, feePercent, priceUsd, marketIds, rateMap, positionMap, tokenList, uidCtx) {
+function computeVaultAllocation(vaultAddress, decimals, totalAssetsFormatted, feePercent2, priceUsd, marketIds, rateMap, positionMap, tokenList, uidCtx) {
   if (totalAssetsFormatted <= 0) {
     return { depositRate: 0, exposures: [], liquidityFormatted: 0 };
   }
@@ -53761,13 +53822,13 @@ function computeVaultAllocation(vaultAddress, decimals, totalAssetsFormatted, fe
   const grossApr = weighted / totalAssetsFormatted;
   const idle = Math.max(0, totalAssetsFormatted - allocated);
   return {
-    depositRate: grossApr * (1 - feePercent / 100),
+    depositRate: grossApr * (1 - feePercent2 / 100),
     // Tag uninvested deposits as an idle entry so the breakdown sums to ~100%.
     exposures: withIdleExposure(exposures, totalAssetsFormatted, priceUsd),
     liquidityFormatted: Math.min(totalAssetsFormatted, idle + withdrawable)
   };
 }
-function computeV2Allocation(decimals, totalAssetsFormatted, feePercent, priceUsd, marketAssetsRaw, rateMap, tokenList, uidCtx) {
+function computeV2Allocation(decimals, totalAssetsFormatted, feePercent2, priceUsd, marketAssetsRaw, rateMap, tokenList, uidCtx) {
   if (totalAssetsFormatted <= 0) {
     return { depositRate: 0, exposures: [], liquidityFormatted: 0 };
   }
@@ -53808,7 +53869,7 @@ function computeV2Allocation(decimals, totalAssetsFormatted, feePercent, priceUs
   const grossApr = weighted / totalAssetsFormatted;
   const idle = Math.max(0, totalAssetsFormatted - allocated);
   return {
-    depositRate: grossApr * (1 - feePercent / 100),
+    depositRate: grossApr * (1 - feePercent2 / 100),
     exposures: withIdleExposure(exposures, totalAssetsFormatted, priceUsd),
     liquidityFormatted: Math.min(totalAssetsFormatted, idle + withdrawable)
   };
@@ -55028,7 +55089,7 @@ function safeBigInt(v) {
     return ZERO3;
   }
 }
-function computeWeightedSupplyApy(strategies, totalAssetsRaw, feePercent, evkIndex) {
+function computeWeightedSupplyApy(strategies, totalAssetsRaw, feePercent2, evkIndex) {
   if (!strategies?.length) return 0;
   const totalAssets = safeBigInt(totalAssetsRaw);
   if (totalAssets === ZERO3) return 0;
@@ -55045,7 +55106,7 @@ function computeWeightedSupplyApy(strategies, totalAssetsRaw, feePercent, evkInd
   if (weightedRay === ZERO3) return 0;
   const apyRayPerAsset = weightedRay / totalAssets;
   const grossPercent = apyToAprPercent(Number(apyRayPerAsset) / RAY_TO_PERCENT3);
-  const netPercent = grossPercent * (1 - feePercent / 100);
+  const netPercent = grossPercent * (1 - feePercent2 / 100);
   return Number.isFinite(netPercent) ? netPercent : 0;
 }
 function computeRealLiquidity(strategies, totalAssetsRaw, evkIndex) {
@@ -61503,6 +61564,12 @@ var fetchSavingsVaults = async (chainId, multicallRetry, prices = {}, tokenList
       // queue window is per-asset and governance-mutable.
       withdrawalCooldownSeconds: state.withdrawalCooldownSeconds ?? entry.withdrawalCooldownSeconds,
       withdrawFeeBps: state.withdrawFeeBps,
+      // Term-sheet inputs that no reader can derive — see the registry's
+      // docstrings. Passed through verbatim so the sheet can stop hardcoding
+      // "compounds per second" and "needs an approval" for every vault.
+      yieldWarmupSeconds: entry.yieldWarmupSeconds,
+      accrual: entry.accrual,
+      needsDepositApproval: entry.needsDepositApproval,
       instantRedeemEnabled: state.instantRedeemEnabled,
       inventoryContract: entry.inventoryContract?.toLowerCase(),
       withdrawQueue: state.withdrawQueue ?? entry.withdrawQueue?.toLowerCase(),
@@ -64346,7 +64413,8 @@ function feePhrase(fee) {
   }
   const rebate = fee.value < 0 ? " rebate" : "";
   const qualifier = fee.indicative ? " (estimated, resolved at execution)" : "";
-  return `${fee.label}: ${amount3}${rebate}${qualifier}`;
+  const bound = fee.mutable && fee.cap != null ? `, governance-set up to a maximum of ${fee.unit === "bps" ? `${fee.cap} bps` : pct(fee.cap)}` : fee.mutable ? ", governance-set" : "";
+  return `${fee.label}: ${amount3}${rebate}${bound}${qualifier}`;
 }
 function maturityPhrase(m) {
   if (m.kind === "fixed-date" && m.maturity)
@@ -64440,7 +64508,8 @@ function supplyHeadline(s) {
   const exit = exitPhrase[String(s.exit.mode)] ?? (s.exit.settlement === "sync" ? "withdraw any time" : "delayed withdrawal");
   const cooldown = s.exit.cooldownSecs ? ` (${duration(s.exit.cooldownSecs)})` : "";
   const mat = s.maturity.kind === "perpetual" ? "" : ` ${maturityPhrase(s.maturity)}`;
-  return `${rate}${mat} \xB7 ${exit}${cooldown}`;
+  const warmup = s.rate.warmupSecs ? ` \xB7 earns after ${duration(s.rate.warmupSecs)}` : "";
+  return `${rate}${mat}${warmup} \xB7 ${exit}${cooldown}`;
 }
 function borrowHeadline(b) {
   const rate = b.rate.kind === "zero-interest" ? "No ongoing interest" : b.rate.kind === "user-set" ? (
@@ -64744,7 +64813,8 @@ var TERM_PROFILES = [
     borrow: {
       description: "A CDP where YOU set the interest rate. A one-off upfront fee is charged at open, and there is a minimum debt size.",
       implications: [
-        "Your collateral can be REDEEMED at par while the position is perfectly healthy, if you carry the lowest interest rate on the branch. Raising your rate is the only defence.",
+        "Your collateral can be REDEEMED at par while the position is perfectly healthy, if you carry the lowest interest rate on the branch. Raising your rate is the defence \u2014 but note a redemption that leaves you under the minimum debt puts the trove in a ZOMBIE state that must be topped back up or closed.",
+        "If the branch ever SHUTS DOWN (system collateral ratio below its floor, or an oracle failure), that changes: urgent redemptions then pay the redeemer a 2 % collateral bonus against any trove regardless of rate, so the queue position your rate bought is worth nothing and you are no longer left whole.",
         "You pay a one-off upfront fee equal to roughly a week of interest at open, and again whenever you adjust the rate.",
         "There is a minimum debt size; you cannot leave a position below it."
       ]
@@ -64758,7 +64828,9 @@ var TERM_PROFILES = [
       description: "A CDP with NO ongoing interest. The entire borrowing cost is a one-off decaying mint fee charged at open.",
       implications: [
         "There is no APR \u2014 the cost is the mint fee, so a short-held loan is expensive and a long-held one is cheap.",
-        "Your collateral can be redeemed at par while healthy."
+        "Your collateral can be redeemed at par while the position is perfectly healthy \u2014 permissionlessly, by any holder of the stablecoin, whenever it trades below its target.",
+        "Redemptions here hit the LOWEST-COLLATERALISED troves first. There is no interest rate to raise (this protocol charges none), so the only defence is adding collateral or repaying.",
+        "If you are redeemed, collateral left over above the redeemed debt is NOT returned automatically \u2014 you have to claim it from the surplus balance."
       ]
     }
   }),
@@ -64835,6 +64907,27 @@ var TERM_PROFILES = [
       ]
     }
   }),
+  P({
+    id: "morpho.blue@v1",
+    name: "Morpho Blue isolated market",
+    family: "morpho-blue",
+    supply: {
+      description: "An isolated two-asset market whose parameters \u2014 collateral, oracle, interest-rate model and LLTV \u2014 are fixed when the market is created and cannot be changed afterwards.",
+      implications: [
+        "Nobody can raise this market\u2019s LLTV, swap its interest-rate model or point it at a different collateral. Those are set once, at creation.",
+        "What CAN still change: the protocol fee on interest (governance-set, capped at 25 %), and \u2014 where the oracle contract behind the fixed oracle address is itself upgradeable \u2014 the price it reports. Check the oracle block.",
+        "Immutability cuts both ways: a market created with a bad oracle or an aggressive LLTV cannot be fixed either, and nobody can pause it for you."
+      ]
+    },
+    borrow: {
+      description: "Borrow against a single collateral in an isolated market whose risk parameters are fixed at creation.",
+      implications: [
+        "Your liquidation threshold is the LLTV the market was created with and cannot be moved under you.",
+        "There is no governance pause and no parameter rescue \u2014 the market runs as deployed."
+      ]
+    },
+    docsUrl: "https://docs.morpho.org/morpho/concepts/markets"
+  }),
   // ── Vaults ───────────────────────────────────────────────────────────────
   P({
     id: "vault.lending@v1",
@@ -65807,7 +65900,16 @@ function buildRate2(input, t, maturity) {
     },
     aprTotal: total,
     basis: "apr-nominal",
-    compounding: kind === "none" ? "none" : "per-second",
+    // `per-second` is right for a vault whose share price grows continuously,
+    // which is nearly all of them — but not for a LINEAR accrual. Frankencoin's
+    // savings module books `Δticks × saved / 1e6 / 365 days` and only compounds
+    // if someone happens to call `refresh`, so claiming per-second here would
+    // imply an APY ~2 % relative above what it actually pays. Providers say so
+    // through `accrual`.
+    compounding: kind === "none" ? "none" : input.accrual === "linear" ? "none" : "per-second",
+    // A warm-up is neither a withdrawal lock nor a governance notice period —
+    // see `RateTerms.warmupSecs`. Absent ⇒ earns from the first block.
+    warmupSecs: input.yieldWarmupSeconds && input.yieldWarmupSeconds > 0 ? input.yieldWarmupSeconds : void 0,
     source,
     // A PT's discount is fixed at purchase; every other vault floats.
     isLocked: kind === "fixed-term" && termIsBacked,
@@ -65988,7 +66090,13 @@ function buildAvailability2(input, now) {
     blockedBy,
     gating: gated ? "whitelist" : "permissionless",
     cap: cap != null && cap !== "0" ? cap : void 0,
-    requires: ["token-approval"],
+    // Almost every vault pulls the deposit with `transferFrom` and therefore
+    // needs an allowance — but not all. Frankencoin's savings modules are
+    // registered ZCHF minters, and the token grants a registered minter an
+    // implicit infinite allowance, so their deposit route emits NO approval.
+    // Asserting one here would make the sheet contradict the envelope built
+    // beside it, which is worse than saying nothing.
+    requires: input.needsDepositApproval === false ? [] : ["token-approval"],
     opensWith: "standalone"
   };
 }
@@ -66441,9 +66549,29 @@ function earnLabel(dimension, key3) {
 function earnDescription(dimension, key3) {
   return EARN_DESCRIPTIONS[dimension][key3];
 }
+function stripBrandWords(name, venue) {
+  const brandWords = new Set(
+    (venue ? `${venueBrand(venue)} ${venueBrandKey(venue)}` : "").toLowerCase().split(/[^a-z0-9]+/).filter(Boolean)
+  );
+  const words = name.trim().split(/\s+/);
+  let i = 0;
+  while (i < words.length && brandWords.has(words[i].toLowerCase())) i++;
+  return words.slice(i).join(" ").trim();
+}
+function namesToken(text, token) {
+  const wanted = token.toLowerCase();
+  return text.split(/[^a-zA-Z0-9]+/).some((t) => t.toLowerCase() === wanted);
+}
 function earnMarketLabel(input) {
   const asset = input.assetSymbol?.trim();
   if (!asset) return input.fallbackName ?? "";
+  const detail = stripBrandWords(
+    input.lenderMarketName?.trim() ?? "",
+    input.venue
+  );
+  if (detail && detail.toLowerCase() !== asset.toLowerCase()) {
+    return namesToken(detail, asset) ? detail : `${asset} \xB7 ${detail}`;
+  }
   const collaterals = (input.collateralSymbols ?? []).map((c) => c?.trim()).filter((c) => !!c);
   const distinct = [...new Set(collaterals)];
   if (distinct.length === 1) return `${asset} \xB7 vs ${distinct[0]}`;
@@ -66854,6 +66982,9 @@ function toVaultTermInput(vault, provider, chainId) {
     swapFeeRate: num13(row.feeRate),
     redemptionDiscountBps: num13(row.redemptionDiscountBps),
     instantRedeemEnabled: bool2(row.instantRedeemEnabled),
+    yieldWarmupSeconds: num13(row.yieldWarmupSeconds),
+    accrual: str6(row.accrual),
+    needsDepositApproval: bool2(row.needsDepositApproval),
     isMintable: bool2(row.isMintable),
     depositCapacity: str6(row.depositCapacity),
     supplyCap: str6(row.supplyCap),
@@ -66915,6 +67046,9 @@ function vaultTermInputFromEarnMarket(m) {
     swapFeeRate: num13(meta.feeRate),
     redemptionDiscountBps: num13(meta.redemptionDiscountBps),
     instantRedeemEnabled: bool2(meta.instantRedeemEnabled),
+    yieldWarmupSeconds: num13(meta.yieldWarmupSeconds),
+    accrual: str6(meta.accrual),
+    needsDepositApproval: bool2(meta.needsDepositApproval),
     // `canDeposit` already folds in the cap, the pause and the gate, so it is
     // the authoritative answer — but the REASON is what a disabled CTA renders,
     // and that only survives in the raw fields.
@@ -66992,6 +67126,9 @@ function vaultTermInputFromSourceRow(row, chainId) {
     swapFeeRate: num13(meta.feeRate),
     redemptionDiscountBps: num13(meta.redemptionDiscountBps),
     instantRedeemEnabled: bool2(meta.instantRedeemEnabled),
+    yieldWarmupSeconds: num13(meta.yieldWarmupSeconds),
+    accrual: str6(meta.accrual),
+    needsDepositApproval: bool2(meta.needsDepositApproval),
     isMintable: bool2(meta.isMintable),
     depositCapacity: str6(meta.depositCapacity) ?? str6(meta.maxDeposit),
     supplyCap: str6(meta.supplyCap),
@@ -67943,7 +68080,12 @@ var ROW_DESCRIPTOR_KEYS = [
   "curvance",
   "broker",
   "collateralProvider",
-  "loanProvider"
+  "loanProvider",
+  // Morpho Blue's protocol fee — the ONE parameter of an otherwise immutable
+  // market that governance can move. Nested under `params.market` on the
+  // in-package shape but a top-level field on `/pools/latest`, so without it
+  // here the flat path reports a confident 0 % on every Blue market.
+  "fee"
 ];
 function resolveMarketDescriptors(row, ctxMarket) {
   const fromParams = pick2(row, "params.market");
@@ -68601,6 +68743,7 @@ var liquityAdapter = {
     const minDebt = liquity.minDebt != null ? String(liquity.minDebt) : void 0;
     const minApr = typeof liquity.minAnnualInterestRate === "string" || typeof liquity.minAnnualInterestRate === "number" ? Number(liquity.minAnnualInterestRate) / 1e18 * 100 : void 0;
     const maxApr = typeof liquity.maxAnnualInterestRate === "string" || typeof liquity.maxAnnualInterestRate === "number" ? Number(liquity.maxAnnualInterestRate) / 1e18 * 100 : void 0;
+    const shutdown = Boolean(liquity.shutdown);
     const wadPct = (v) => v == null ? void 0 : Number(v) / 1e18;
     const spPenalty = wadPct(liquity.liquidationPenaltySP);
     const redistPenalty = wadPct(liquity.liquidationPenaltyRedistribution);
@@ -68669,20 +68812,41 @@ var liquityAdapter = {
           penalties: penalties.length ? penalties : void 0,
           badDebt: "redistributed",
           redeemable: true,
-          redemption: {
-            // Not governance and not a liquidation: any holder of the stable
-            // may redeem it for collateral at any time.
+          // Two different mechanisms share the word "redemption", and the
+          // ordinary one stops applying the moment a branch shuts down.
+          //
+          // NORMAL: rate-ordered, fee stays in the trove, borrower ~USD-neutral.
+          // SHUTDOWN (TCR < SCR or oracle failure, permanent): **urgent
+          // redemptions** run at a 2 % collateral BONUS to the redeemer, against
+          // any trove — so the queue position a borrower bought with their rate
+          // is worthless, and they are no longer neutral, they are down 2 %.
+          //
+          // Asserting the normal terms unconditionally told exactly the wrong
+          // story to the only borrowers who could still act on it.
+          redemption: shutdown ? {
             trigger: "permissionless-arbitrage",
-            // It only pays while the stable trades under its target — which is
-            // the point: redemptions are what push it back up.
+            // No longer peg-driven: the 2 % bonus pays regardless.
+            driver: "always",
+            // Urgent redemptions ignore the interest-rate ordering.
+            order: "pro-rata",
+            valueImpact: "loss",
+            defence: "This branch is shut down and urgent redemptions pay a 2 % collateral bonus, so your interest rate no longer protects you. Closing or repaying the position is the only way out from under it."
+          } : {
+            // Not governance and not a liquidation: any holder of the
+            // stable can trigger it, without permission.
+            trigger: "permissionless-arbitrage",
+            // Permissionless does NOT mean constant — it only pays while
+            // the stable trades under target, which is the point:
+            // redemptions are what push it back up.
             driver: "below-peg",
             // The rate you chose IS your position in the queue.
             order: "lowest-rate-first",
-            // The redemption fee stays in the position as extra collateral, so
+            // The redemption fee stays in the trove as extra collateral, so
             // the borrower is ~USD-neutral; what is lost is EXPOSURE.
             valueImpact: "usd-neutral",
-            // The ordering is already stated by `order`; say only what to DO.
-            defence: "Raising your rate moves you back in that queue."
+            // The ordering is already stated by `order`; say what to DO —
+            // including the trap that follows a partial redemption.
+            defence: "Raising your rate moves you back in that queue. If a redemption leaves you below the minimum debt your trove goes ZOMBIE \u2014 removed from the queue, and only recoverable by topping it back above the floor or closing it."
           }
         },
         counterparty: { kind: "cdp", solvency: "overcollateralized" }
@@ -68719,14 +68883,28 @@ var riverAdapter = {
         seizure: "proportional",
         redeemable: true,
         redemption: {
-          // Not governance and not a liquidation: any holder of the stable may
-          // redeem it for collateral at any time.
+          // Not governance and not a liquidation: any holder of the stable can
+          // trigger it, without permission and without targeting anyone.
           trigger: "permissionless-arbitrage",
+          // Permissionless does NOT mean constant: it only pays the redeemer
+          // while the stable trades under target, which is what makes it a peg
+          // defence rather than a standing claim on collateral.
           driver: "below-peg",
-          order: "lowest-rate-first",
-          valueImpact: "usd-neutral",
-          // The ordering is already stated by `order`; say only what to DO.
-          defence: "Raising your rate moves you back in that queue."
+          // COLLATERAL-RATIO ordered, V1-style — NOT rate-ordered.
+          //
+          // This said `lowest-rate-first`, copied from the Liquity V2 shape,
+          // and it was wrong twice over: River is Prisma/V1 lineage, which
+          // redeems against the LOWEST-COLLATERALISED troves first, and River
+          // charges no interest at all (`rate.kind: 'zero-interest'` above), so
+          // the accompanying "raise your rate" advice pointed at a control that
+          // does not exist on this protocol. A borrower following it would have
+          // done nothing while sitting first in the real queue.
+          order: "lowest-collateral-ratio",
+          // Deliberately ABSENT rather than `usd-neutral`. The V1 mechanism
+          // sends collateral above the redeemed debt to a surplus balance that
+          // the borrower must CLAIM, so whether they end up whole depends on an
+          // action they may not know to take — see `defence`.
+          defence: "Add collateral or repay to raise your collateral ratio and move behind other troves in the queue. If you are redeemed, claim the leftover collateral from the surplus balance \u2014 it is not returned automatically."
         }
       },
       counterparty: { kind: "cdp", solvency: "overcollateralized" }
@@ -69040,7 +69218,18 @@ var resupplyAdapter = {
             // rate to raise. Offering "raise your rate" here would be actively
             // misleading.
             order: "pro-rata",
-            valueImpact: "usd-neutral"
+            // `valueImpact` deliberately ABSENT — it is NOT `usd-neutral`.
+            //
+            // That was carried over from Liquity, where the redemption fee stays
+            // IN the trove as extra collateral and leaves the borrower roughly
+            // whole. Resupply does the opposite: `redeemCollateral` takes a 1 %
+            // base fee with half of it going to the protocol, and writes the
+            // collateral off across the pair via a `WriteOffToken` — so nothing
+            // is credited back to the borrower and there is no surplus to claim.
+            // Whether they end up neutral is not something we have established,
+            // and an absent field says that where `usd-neutral` would have
+            // promised it.
+            defence: "Nothing \u2014 redemptions are skimmed pro-rata from every borrower in the pair, so there is no queue to move down and no action that exempts you. Your collateral can shrink with no transaction of your own."
           },
           badDebt: "socialized"
         },
@@ -69188,6 +69377,54 @@ var fraxlendAdapter = {
     }
   })
 };
+var MORPHO_BLUE_MAX_FEE_PERCENT = 25;
+function feePercent(raw) {
+  if (raw == null) return void 0;
+  const n = typeof raw === "string" ? Number(raw) : raw;
+  if (!Number.isFinite(n) || n <= 0) return void 0;
+  return n > 1 ? n / 1e18 * 100 : n * 100;
+}
+var morphoBlueAdapter = {
+  id: "morpho-blue",
+  matches: (lender) => isMorphoBlue(lender),
+  profileId: () => "morpho.blue@v1",
+  build: (input) => {
+    const market = input.market ?? {};
+    const fee = feePercent(market.fee);
+    return {
+      governance: {
+        mutability: "immutable",
+        // The ONE power that reaches an existing market. Listing the full owner
+        // surface here would imply `enableLltv` could change THIS market's LLTV,
+        // which is the misreading the whole adapter exists to prevent.
+        powers: ["change-fees"]
+      },
+      supply: {
+        // Stated as a FEE rather than left as a bare governance power, so the
+        // bound travels with it: the number a supplier is exposed to is "0 %
+        // today, never above 25 %", which a `change-fees` enum cannot express.
+        //
+        // Emitted even at 0 — the current Morpho default — because "this market
+        // charges no fee, and the most it could ever charge is 25 %" is the
+        // whole point, and an absent row would leave the power unexplained.
+        fees: [
+          {
+            id: "reserve-factor",
+            label: "Protocol fee on interest",
+            when: "ongoing",
+            unit: "percent",
+            basis: "yield",
+            value: fee ?? 0,
+            payee: "protocol",
+            mutable: true,
+            cap: MORPHO_BLUE_MAX_FEE_PERCENT,
+            description: "A share of the interest borrowers pay, taken before it reaches suppliers. Morpho governance can change it on a live market, but the contract refuses anything above 25 % \u2014 it is the only parameter of this market that can move."
+          }
+        ]
+      }
+    };
+  }
+};
 
 // src/terms/adapters/index.ts
 var TERM_ADAPTERS = [
@@ -69208,7 +69445,8 @@ var TERM_ADAPTERS = [
   frankencoinAdapter,
   resupplyAdapter,
   curvanceAdapter,
-  fraxlendAdapter
+  fraxlendAdapter,
+  morphoBlueAdapter
 ];
 function resolveAdapter(lender) {
   return TERM_ADAPTERS.find((a) => a.matches(lender));
@@ -69374,7 +69612,9 @@ function enrichTermSheet(sheet, index) {
   }
   const govRow = index.governanceByMarketUid?.get(uid);
   if (govRow) {
-    const immutable = govRow.mode === "immutable";
+    const assertedImmutable = sheet.governance?.mutability === "immutable";
+    const immutable = govRow.mode === "immutable" || assertedImmutable;
+    const adapterPowers = assertedImmutable ? sheet.governance?.powers : void 0;
     sheet.governance = {
       ...sheet.governance,
       mutability: immutable ? "immutable" : "governed",
@@ -69392,7 +69632,8 @@ function enrichTermSheet(sheet, index) {
     };
     if (immutable) {
       sheet.governance.timelockSecs = void 0;
-      sheet.governance.powers = void 0;
+      sheet.governance.timelockUnknown = void 0;
+      sheet.governance.powers = adapterPowers;
     }
   }
   const quality = index.assetRisk;
@@ -69622,8 +69863,12 @@ function validateTermSheet(sheet) {
           "immutable-timelock",
           "immutable governance must not carry a timelock"
         );
-      if (g.powers?.length)
-        fail("immutable-powers", "immutable governance must not carry powers");
+      const disallowed = (g.powers ?? []).filter((p) => p !== "change-fees");
+      if (disallowed.length)
+        fail(
+          "immutable-powers",
+          `immutable governance must not carry powers: ${disallowed.join(", ")}`
+        );
     }
     if (g.timelockSecs && g.controllerKind && g.controllerKind !== "TIMELOCK" && g.timelockSource !== "on-chain")
       fail(
@@ -69661,7 +69906,27 @@ var USER_SET_RATE_PREFIXES = [
   "SONETA",
   "EBISU"
 ];
-function earnMarketFromPool(row, fallbackChainId) {
+function collateralSymbolsByVenue(rows, fallbackChainId) {
+  const byVenue = /* @__PURE__ */ new Map();
+  for (const row of rows) {
+    const venue = str5(row.lender) ?? str5(row.lenderKey);
+    const chainId = str5(row.chainId) ?? fallbackChainId;
+    if (!venue || !chainId) continue;
+    const collateralActive = row.flags?.collateralActive ?? row.collateralActive;
+    if (collateralActive !== true) continue;
+    const symbol = str5(row.underlyingInfo?.asset?.symbol) ?? str5(row.asset?.symbol);
+    if (!symbol) continue;
+    const key3 = venueGroupKey(chainId, venue);
+    let set = byVenue.get(key3);
+    if (!set) byVenue.set(key3, set = /* @__PURE__ */ new Set());
+    set.add(symbol);
+  }
+  return new Map([...byVenue].map(([key3, set]) => [key3, [...set]]));
+}
+function venueGroupKey(chainId, venue) {
+  return `${chainId}::${venue}`;
+}
+function earnMarketFromPool(row, fallbackChainId, venueCollaterals) {
   const marketUid = str5(row.marketUid);
   if (!marketUid) return void 0;
   let earnUid;
@@ -69709,7 +69974,21 @@ function earnMarketFromPool(row, fallbackChainId) {
     // across the listing: the STABLE family key, never the per-market venue.
     // No lender publishes a curator today, hence the undefined.
     ...resolveEarnIdentity(venue, void 0),
-    name: str5(row.name),
+    // Pair-aware: "USDT · vs wstETH" for an isolated market, plain "USDC" for
+    // a shared pool. The fetcher's own name is only the fallback — it is the
+    // leg-local "Loan USDC", which a chain repeats across 300 markets and
+    // which says nothing about WHICH market this is. Identical to what the
+    // origin's SQL route builds, so both paths agree.
+    name: earnMarketLabel({
+      assetSymbol: str5(assetInfo.symbol),
+      lenderMarketName: str5(row.lenderInfo?.name),
+      venue,
+      // Minus this row's own leg: on the COLLATERAL row of an isolated market
+      // the only collateral is itself, and "cbBTC · vs cbBTC" is nonsense.
+      // Removing it leaves zero, i.e. the plain name — correct.
+      collateralSymbols: venueCollaterals?.get(venueGroupKey(chainId, venue))?.filter((c) => c !== str5(assetInfo.symbol)),
+      fallbackName: str5(row.name)
+    }),
     // Never re-derived — the uid's third segment as the origin minted it.
     ref: marketUid.split(":")[2],
     logoURI: str5(assetInfo.logoURI),
@@ -70027,7 +70306,13 @@ function legAsset(pos) {
   );
   const decimals = typeof asset.decimals === "number" ? asset.decimals : void 0;
   const symbol = typeof asset.symbol === "string" ? asset.symbol : void 0;
-  return { address, symbol, decimals };
+  const logoURI = typeof asset.logoURI === "string" ? asset.logoURI : void 0;
+  return {
+    address,
+    symbol,
+    decimals,
+    ...logoURI ? { logoURI } : {}
+  };
 }
 function toLeg(pos) {
   const depositsUsd = num15(pos.depositsUSD);
@@ -70039,7 +70324,9 @@ function toLeg(pos) {
     marketUid: pos.marketUid,
     ...pos.loanId ? { loanId: pos.loanId } : {},
     asset: legAsset(pos),
-    side: hasSupply && hasDebt ? "both" : hasDebt ? "borrow" : "supply",
+    // An empty market is `'none'`, NOT `'supply'` — the old fallback quietly
+    // reported every market the account was merely configured in as a holding.
+    side: hasSupply && hasDebt ? "both" : hasDebt ? "borrow" : hasSupply ? "supply" : "none",
     deposits: pos.deposits ?? "0",
     depositsUsd,
     debt: pos.debt ?? "0",
@@ -70067,10 +70354,17 @@ function earnPositionFromLenderEntry(entry) {
       legs
     };
   });
-  const active = subAccounts.filter((s) => s.legs.length > 0 || s.netUsd !== 0);
+  const active = subAccounts.filter(
+    (s) => s.legs.some((l) => l.side !== "none") || s.netUsd !== 0
+  );
   const crossMargin = active.length <= 1;
   const suppliedUsd = num15(entry.balanceData?.deposits);
   const borrowedUsd = num15(entry.balanceData?.debt);
+  const aprBreakdown = {
+    market: num15(entry.aprData?.apr),
+    rewards: num15(entry.aprData?.rewardApr),
+    intrinsic: num15(entry.aprData?.intrinsicApr)
+  };
   return {
     positionUid: buildLendingPositionUid(entry.lender, entry.chainId),
     chainId: entry.chainId,
@@ -70084,7 +70378,8 @@ function earnPositionFromLenderEntry(entry) {
     suppliedUsd,
     borrowedUsd,
     netUsd: num15(entry.balanceData?.nav),
-    apr: num15(entry.aprData?.apr),
+    apr: aprBreakdown.market + aprBreakdown.rewards + aprBreakdown.intrinsic,
+    aprBreakdown,
     depositApr: num15(entry.aprData?.depositApr),
     borrowApr: num15(entry.aprData?.borrowApr),
     // Only a cross-margin account HAS one health factor. Publishing the first
@@ -70172,6 +70467,6 @@ function earnPositionTotals(items) {
   };
 }
 
-export { ApiBookSource, DEFAULT_MIDNIGHT_API, DEFAULT_OUTLIER_GUARD, DEFAULT_PROFILE_ID, DEFAULT_STALE_REJECT_SECONDS, DEFAULT_TERMMAX_API, EARN_DESCRIPTIONS, EARN_LABELS, EMPTY_BALANCE, EXACTLY_LENDER_KEY, FRACTION_RATE_PROVIDERS, GMX_API_HOSTS, GMX_READ_CONTRACTS, GMX_SUPPORTED_CHAINS, HYPERCORE_VAULT_REGISTRY, IDLE_MARKET_ID, INTERFACE_IDS, LAGOON_API_URL, LAGOON_CHAIN_IDS, MORPHO_LENS, MULTICALL_FAILURE, MaxParamThresholds, PASSTHROUGH_RATE_EPSILON, PENDLE_ASSETS_URL, PENDLE_CHAIN_IDS, PENDLE_MARKETS_URL, SDK_FRACTION_RATE_PROVIDERS, STABLECOIN_SYMBOLS, STCELO_MANAGER_ADDRESS, TELLER_CALLS_PER_BID, TERMMAX_CALLS_PER_ACCOUNT, DECIMAL_BASE as TERMMAX_DECIMAL_BASE, TERMMAX_LIQUIDATION_PENALTY, TERMMAX_LIQUIDATION_WINDOW_SECS, TERMMAX_LIQUIDATOR_BONUS, TERMMAX_PARTIAL_CLOSE_FACTOR, TERMMAX_PARTIAL_LIQUIDATION_THRESHOLD_USD, TERM_ADAPTERS, TERM_PROFILES, TERM_SHEET_SCHEMA_VERSION, TermMaxApiSource, TermSubgraphSource, UPSHIFT_CHAIN_IDS, UPSHIFT_VAULTS_URL, VAULT_PROVIDER_PROFILE, VAULT_PROVIDER_TRAITS, VAULT_SHARE_PRICE_PROBE, VAULT_VENUE_PREFIX, VOLATILE_VAULT_OVERRIDES, YEARN_CHAIN_IDS, YEARN_YDAEMON_BASE, __resetResupplyUserCaches, accountDepositListKey, accountWithdrawalListKey, appendSnapshot, applyPositionDelta, attachImplications, attachPricesToFlashLiquidity, borrowDescription, borrowFindings, borrowHeadline, buildExposures2 as buildExposures, buildFluidFTokensCall, buildLendingPositionUid, buildLiquityUserCall, buildLoopResult, buildMorphoTypeCall, buildMorphoTypeUserCallWithLens, buildPortfolioTotals, buildSumerAccumulators, buildSummaries, buildTellerUserCall, buildTermMaxUserCall, buildTermSheet, buildTermSheetsForGroup, buildVaultEarnUid, buildVaultLookup, buildVaultTermSheet, calculateLeverage, calculateNetApr, calculateOverallNetApr, calculateWeightedAverage, classifyFreshness, classifyReliability, classifyVault, clearPendleMarketsCache, collectFeedObservations, computeBorrowDelta2 as computeBorrowDelta, computeCloseTradeDeltas, computeCollateralSwapDeltas, computeDebtSwapDeltas, computeDepositDelta2 as computeDepositDelta, computeEModeAnalysis, computeOpenTradeDeltas, computePostTradeMetrics, computeRepayDelta2 as computeRepayDelta, computeSumerBorrowDelta, computeSumerDepositDelta, computeSumerRepayDelta, computeSumerWaterfall, computeSumerWithdrawDelta, computeVaultApr, computeWithdrawDelta2 as computeWithdrawDelta, computeZapTradeDeltas, consensusReference, convertDssMarketsToResponse, convertExactlyMarketsToResponse, convertFrankencoinMarketsToResponse, convertFraxlendPairsToResponse, convertInverseMarketsToResponse, convertLenderUserDataResult, convertLiquityMarketsToResponse, convertLlamaLendMarketsToResponse, convertResupplyMarketsToResponse, convertRiverMarketsToResponse, convertTellerMarketsToResponse, convertTermMarketsToResponse, convertTermMaxMarketsToResponse, convertUsddMarketsToResponse, createMarketUid, createMidnightBookSource, createMulticallRpcCall, createRawRpcCalls, createTermBookSource, createTermMaxDataSource, decodeListaMarkets, decodeMarkets, decodePackedListaUserDataset, decodePackedMorphoUserDataset, deriveBorrowTags, deriveSupplyTags, detectInterfaceKinds, dssIlkBytes32, dssKeyParts, dssLenderKey, duration, earnDescription, earnLabel, earnMarketFromPool, earnMarketFromVault, earnMarketLabel, earnPositionFromLenderEntry, earnPositionFromVaultBalance, earnPositionTotals, earnUidFromMarketUid, earnVenueKind, encodeBalanceFetcherCalldata, enrichTermSheet, enrichmentIndexFromRows, exactlyPairLtv, exactlyPenaltyRateToAprPercent, exactlyWadRateToPercent, feePhrase, feedKeyOf, feedStatKey, fetchDolomiteAccountNumbers, fetchDssMarkets, fetchEulerEarnVaults, fetchEulerEarnVaultsFromSubgraph, fetchEulerSubAccountIndexes, fetchExactlyMarkets, fetchFlashLiquidityForChain, fetchFluidFTokens, fetchFrankencoinMarkets, fetchFraxlendPairs, fetchGeneralYields, fetchGeneralYieldsByMarketUid, fetchGmxExecutionFees, fetchGmxTickerPrices, fetchGmxVaults, fetchHypercoreVaults, fetchInverseMarkets, fetchLagoonApiVaults, fetchLagoonVaults, fetchLiquityMarkets, fetchListaVaultsFromChain, fetchLlamaLendMarkets, fetchMorphoUserBalances, fetchMorphoUserPositionMarkets, fetchMorphoVaults, fetchMorphoVaultsFromApi, fetchMorphoVaultsFromChain, fetchOraclePrices, fetchPendleApiAssets, fetchPendleApiMarkets, fetchPendlePrices, fetchPendlePtMarkets, fetchResupplyMarkets, fetchRiverMarkets, fetchSiloVaults, fetchTellerMarkets, fetchTermMarkets, fetchTermMaxMarkets, fetchTokenBalances, fetchTokenMetadata, fetchUpshiftApiVaults, fetchUpshiftVaults, fetchUsddMarkets, fetchYearnApiVaults, fetchYearnVaults, filterActiveLenders, filterLendersByProtocol, finalizeInfo, findingsFor, formatRaw, frankencoinKeyParts, frankencoinLenderKey, fraxlendAssetPerCollateral, fraxlendKeyParts, fraxlendLenderKey, fuseLenderData, generateLendingPools, getAavesForChain, getAssetConfig, getBalanceForMarketUid, getBorrowCapacity, getCachedLiquityTroves, getCachedTellerBids, getCachedTermMaxDiscovery, getCachedTermMaxMarket, getCachedTermMaxMarkets, getCoreValidators, getFluidFTokensConverter, getGmxApiHost, getGmxReadContracts, getGmxUserPositions, getHealthFactor, getHypercoreUserPositions, getHypercoreVaultRegistry, getLenderAssets, getLenderPublicData, getLenderPublicDataAll, getLenderPublicDataViaApi, getLenderUserDataMulti, getLenderUserDataResult, getLendersForChain, getLstDelegation, getLstValidators, getLstWithdrawalRegistry, getLstWithdrawalRequests, getMaxAmountClose, getMaxAmountCollateralSwap, getMaxAmountDebtSwap, getMaxAmountOpen, getMergedUserData, getMorphoTypeMarketConverter, getReadFailurePolicy, getResolvedDolomiteAccountNumbers, getStCeloValidatorGroups, getSubAccountAddress, getSubAccountIndex, getTermProfile, getVaultPublicDataAll, getVaultWithdrawalRequests, hasCritical, hasEulerEarnVaultSubgraph, hasLagoonVaults, hasMorphoPositionIndex, hasMorphoUserApi, hasMorphoUserSubgraph, hasPendleMarkets, hasUpshiftVaults, hasYearnVaults, ilkToKeySegment, implausibleRatePercent, inverseKeyParts, inverseLenderKey, isBoundNeed, isFailedCall, isIlliquid, isLendingPosition, isLiveMarket as isLivePendleMarket, isStablecoinSymbol, isVaultPosition, isVaultVenue, isYearnV3, keySegmentToIlk, keysFromMaps, lenderApiOnly, lenderFamily, liquityCandidateTroveIds, liquityKeyParts, liquityLenderKey, llamaLendKeyParts, llamaLendLenderKey, mergeDeep, multicall3Abi2 as multicall3Abi, nanTo, needsLenderApproval, needsTokenApproval, noOpResult, normalizeToBytes, parseBalanceFetcherResult, parseEarnUid, parseMergedResult, parseMulticallRpcResponses, parseExpirySeconds as parsePendleExpirySeconds, parseRawRpcBatchResponses, parseRawRpcResponses, parseTermMaxLtv, parseTokenBalanceResult, pct, assetKey as pendleAssetKey, positivePart2 as positivePart, predictInverseEscrow, prepareLenderUserDataRpcCalls, prepareMergedMulticallParams, prepareMergedRpcCalls, prepareMulticallInputs, prepareTokenBalanceRpcCalls, priceGlvVaults, priceGmMarkets, probeAaveFeedTimestamps, pruneFeedStats, rankFindings, ratePercent, readVaultSharePrices, rejectOutliers as rejectPriceOutliers, resolveAdapter, resolveDerivation, resolveEarnIdentity, resolveStCeloDepositGroup, resolveVaultProfileId, resupplyKeyParts, resupplyLenderKey, resupplyMarketLabel, riverKeyParts, riverLenderKey, selectAssetGroupPrices, shortDate, splitChainScopedAddress as splitPendleChainScopedAddress, stampCapabilities, stampVaultClassification, stampVaultTermSheets, supplyDescription, supplyFindings, supplyHeadline, swapRoutedProvidersArePriceConsistent, tellerBpsToPercent, tellerImpliedLtv, tellerLenderKey, tellerPoolFromLenderKey, termLenderKey, termMaxApiBase, borrowNif as termMaxBorrowNif, curveApr as termMaxCurveApr, curveAprNumber as termMaxCurveAprNumber, daysToMaturity as termMaxDaysToMaturity, lendNif as termMaxLendNif, mintGtFeeRatio as termMaxMintGtFeeRatio, ratioToNumber as termMaxRatioToNumber, ratioToPercent as termMaxRatioToPercent, tickToAprNumber, tickToPrice, toDigest, toTermSheetInput, toVaultTermInput, tryParseEarnUid, unflattenLenderData, updateFeedStats, usdValue, usddIlkBytes32, usddKeyParts, usddLenderKey, validateTermSheet, validateTermSheets, validateUserData, vaultSharesToAssets, vaultTermInputFromEarnMarket, vaultTermInputFromSourceRow, vaultTraits, vaultVenue, venueBrand, venueBrandKey };
+export { ApiBookSource, DEFAULT_MIDNIGHT_API, DEFAULT_OUTLIER_GUARD, DEFAULT_PROFILE_ID, DEFAULT_STALE_REJECT_SECONDS, DEFAULT_TERMMAX_API, EARN_DESCRIPTIONS, EARN_LABELS, EMPTY_BALANCE, EXACTLY_LENDER_KEY, FRACTION_RATE_PROVIDERS, GMX_API_HOSTS, GMX_READ_CONTRACTS, GMX_SUPPORTED_CHAINS, HYPERCORE_VAULT_REGISTRY, IDLE_MARKET_ID, INTERFACE_IDS, LAGOON_API_URL, LAGOON_CHAIN_IDS, MORPHO_LENS, MULTICALL_FAILURE, MaxParamThresholds, PASSTHROUGH_RATE_EPSILON, PENDLE_ASSETS_URL, PENDLE_CHAIN_IDS, PENDLE_MARKETS_URL, SDK_FRACTION_RATE_PROVIDERS, STABLECOIN_SYMBOLS, STCELO_MANAGER_ADDRESS, TELLER_CALLS_PER_BID, TERMMAX_CALLS_PER_ACCOUNT, DECIMAL_BASE as TERMMAX_DECIMAL_BASE, TERMMAX_LIQUIDATION_PENALTY, TERMMAX_LIQUIDATION_WINDOW_SECS, TERMMAX_LIQUIDATOR_BONUS, TERMMAX_PARTIAL_CLOSE_FACTOR, TERMMAX_PARTIAL_LIQUIDATION_THRESHOLD_USD, TERM_ADAPTERS, TERM_PROFILES, TERM_SHEET_SCHEMA_VERSION, TermMaxApiSource, TermSubgraphSource, UPSHIFT_CHAIN_IDS, UPSHIFT_VAULTS_URL, VAULT_PROVIDER_PROFILE, VAULT_PROVIDER_TRAITS, VAULT_SHARE_PRICE_PROBE, VAULT_VENUE_PREFIX, VOLATILE_VAULT_OVERRIDES, YEARN_CHAIN_IDS, YEARN_YDAEMON_BASE, __resetResupplyUserCaches, accountDepositListKey, accountWithdrawalListKey, appendSnapshot, applyPositionDelta, attachImplications, attachPricesToFlashLiquidity, borrowDescription, borrowFindings, borrowHeadline, buildExposures2 as buildExposures, buildFluidFTokensCall, buildLendingPositionUid, buildLiquityUserCall, buildLoopResult, buildMorphoTypeCall, buildMorphoTypeUserCallWithLens, buildPortfolioTotals, buildSumerAccumulators, buildSummaries, buildTellerUserCall, buildTermMaxUserCall, buildTermSheet, buildTermSheetsForGroup, buildVaultEarnUid, buildVaultLookup, buildVaultTermSheet, calculateLeverage, calculateNetApr, calculateOverallNetApr, calculateWeightedAverage, classifyFreshness, classifyReliability, classifyVault, clearPendleMarketsCache, collateralSymbolsByVenue, collectFeedObservations, computeBorrowDelta2 as computeBorrowDelta, computeCloseTradeDeltas, computeCollateralSwapDeltas, computeDebtSwapDeltas, computeDepositDelta2 as computeDepositDelta, computeEModeAnalysis, computeOpenTradeDeltas, computePostTradeMetrics, computeRepayDelta2 as computeRepayDelta, computeSumerBorrowDelta, computeSumerDepositDelta, computeSumerRepayDelta, computeSumerWaterfall, computeSumerWithdrawDelta, computeVaultApr, computeWithdrawDelta2 as computeWithdrawDelta, computeZapTradeDeltas, consensusReference, convertDssMarketsToResponse, convertExactlyMarketsToResponse, convertFrankencoinMarketsToResponse, convertFraxlendPairsToResponse, convertInverseMarketsToResponse, convertLenderUserDataResult, convertLiquityMarketsToResponse, convertLlamaLendMarketsToResponse, convertResupplyMarketsToResponse, convertRiverMarketsToResponse, convertTellerMarketsToResponse, convertTermMarketsToResponse, convertTermMaxMarketsToResponse, convertUsddMarketsToResponse, createMarketUid, createMidnightBookSource, createMulticallRpcCall, createRawRpcCalls, createTermBookSource, createTermMaxDataSource, decodeListaMarkets, decodeMarkets, decodePackedListaUserDataset, decodePackedMorphoUserDataset, deriveBorrowTags, deriveSupplyTags, detectInterfaceKinds, dssIlkBytes32, dssKeyParts, dssLenderKey, duration, earnDescription, earnLabel, earnMarketFromPool, earnMarketFromVault, earnMarketLabel, earnPositionFromLenderEntry, earnPositionFromVaultBalance, earnPositionTotals, earnUidFromMarketUid, earnVenueKind, encodeBalanceFetcherCalldata, enrichTermSheet, enrichmentIndexFromRows, exactlyPairLtv, exactlyPenaltyRateToAprPercent, exactlyWadRateToPercent, feePhrase, feedKeyOf, feedStatKey, fetchDolomiteAccountNumbers, fetchDssMarkets, fetchEulerEarnVaults, fetchEulerEarnVaultsFromSubgraph, fetchEulerSubAccountIndexes, fetchExactlyMarkets, fetchFlashLiquidityForChain, fetchFluidFTokens, fetchFrankencoinMarkets, fetchFraxlendPairs, fetchGeneralYields, fetchGeneralYieldsByMarketUid, fetchGmxExecutionFees, fetchGmxTickerPrices, fetchGmxVaults, fetchHypercoreVaults, fetchInverseMarkets, fetchLagoonApiVaults, fetchLagoonVaults, fetchLiquityMarkets, fetchListaVaultsFromChain, fetchLlamaLendMarkets, fetchMorphoUserBalances, fetchMorphoUserPositionMarkets, fetchMorphoVaults, fetchMorphoVaultsFromApi, fetchMorphoVaultsFromChain, fetchOraclePrices, fetchPendleApiAssets, fetchPendleApiMarkets, fetchPendlePrices, fetchPendlePtMarkets, fetchResupplyMarkets, fetchRiverMarkets, fetchSiloVaults, fetchTellerMarkets, fetchTermMarkets, fetchTermMaxMarkets, fetchTokenBalances, fetchTokenMetadata, fetchUpshiftApiVaults, fetchUpshiftVaults, fetchUsddMarkets, fetchYearnApiVaults, fetchYearnVaults, filterActiveLenders, filterLendersByProtocol, finalizeInfo, findingsFor, formatRaw, frankencoinKeyParts, frankencoinLenderKey, fraxlendAssetPerCollateral, fraxlendKeyParts, fraxlendLenderKey, fuseLenderData, generateLendingPools, getAavesForChain, getAssetConfig, getBalanceForMarketUid, getBorrowCapacity, getCachedLiquityTroves, getCachedTellerBids, getCachedTermMaxDiscovery, getCachedTermMaxMarket, getCachedTermMaxMarkets, getCoreValidators, getFluidFTokensConverter, getGmxApiHost, getGmxReadContracts, getGmxUserPositions, getHealthFactor, getHypercoreUserPositions, getHypercoreVaultRegistry, getLenderAssets, getLenderPublicData, getLenderPublicDataAll, getLenderPublicDataViaApi, getLenderUserDataMulti, getLenderUserDataResult, getLendersForChain, getLstDelegation, getLstValidators, getLstWithdrawalRegistry, getLstWithdrawalRequests, getMaxAmountClose, getMaxAmountCollateralSwap, getMaxAmountDebtSwap, getMaxAmountOpen, getMergedUserData, getMorphoTypeMarketConverter, getReadFailurePolicy, getResolvedDolomiteAccountNumbers, getStCeloValidatorGroups, getSubAccountAddress, getSubAccountIndex, getTermProfile, getVaultPublicDataAll, getVaultWithdrawalRequests, hasCritical, hasEulerEarnVaultSubgraph, hasLagoonVaults, hasMorphoPositionIndex, hasMorphoUserApi, hasMorphoUserSubgraph, hasPendleMarkets, hasUpshiftVaults, hasYearnVaults, ilkToKeySegment, implausibleRatePercent, inverseKeyParts, inverseLenderKey, isBoundNeed, isFailedCall, isIlliquid, isLendingPosition, isLiveMarket as isLivePendleMarket, isStablecoinSymbol, isVaultPosition, isVaultVenue, isYearnV3, keySegmentToIlk, keysFromMaps, lenderApiOnly, lenderFamily, liquityCandidateTroveIds, liquityKeyParts, liquityLenderKey, llamaLendKeyParts, llamaLendLenderKey, mergeDeep, multicall3Abi2 as multicall3Abi, nanTo, needsLenderApproval, needsTokenApproval, noOpResult, normalizeToBytes, parseBalanceFetcherResult, parseEarnUid, parseMergedResult, parseMulticallRpcResponses, parseExpirySeconds as parsePendleExpirySeconds, parseRawRpcBatchResponses, parseRawRpcResponses, parseTermMaxLtv, parseTokenBalanceResult, pct, assetKey as pendleAssetKey, positivePart2 as positivePart, predictInverseEscrow, prepareLenderUserDataRpcCalls, prepareMergedMulticallParams, prepareMergedRpcCalls, prepareMulticallInputs, prepareTokenBalanceRpcCalls, priceGlvVaults, priceGmMarkets, probeAaveFeedTimestamps, pruneFeedStats, rankFindings, ratePercent, readVaultSharePrices, rejectOutliers as rejectPriceOutliers, resolveAdapter, resolveDerivation, resolveEarnIdentity, resolveStCeloDepositGroup, resolveVaultProfileId, resupplyKeyParts, resupplyLenderKey, resupplyMarketLabel, riverKeyParts, riverLenderKey, selectAssetGroupPrices, shortDate, splitChainScopedAddress as splitPendleChainScopedAddress, stampCapabilities, stampVaultClassification, stampVaultTermSheets, supplyDescription, supplyFindings, supplyHeadline, swapRoutedProvidersArePriceConsistent, tellerBpsToPercent, tellerImpliedLtv, tellerLenderKey, tellerPoolFromLenderKey, termLenderKey, termMaxApiBase, borrowNif as termMaxBorrowNif, curveApr as termMaxCurveApr, curveAprNumber as termMaxCurveAprNumber, daysToMaturity as termMaxDaysToMaturity, lendNif as termMaxLendNif, mintGtFeeRatio as termMaxMintGtFeeRatio, ratioToNumber as termMaxRatioToNumber, ratioToPercent as termMaxRatioToPercent, tickToAprNumber, tickToPrice, toDigest, toTermSheetInput, toVaultTermInput, tryParseEarnUid, unflattenLenderData, updateFeedStats, usdValue, usddIlkBytes32, usddKeyParts, usddLenderKey, validateTermSheet, validateTermSheets, validateUserData, vaultSharesToAssets, vaultTermInputFromEarnMarket, vaultTermInputFromSourceRow, vaultTraits, vaultVenue, venueBrand, venueBrandKey };
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