@defisaver/positions-sdk 2.1.144-dev → 2.1.145

package/src/helpers/morphoMidnightHelpers/tenor.ts

@@ -0,0 +1,407 @@
+import Dec from 'decimal.js';
+import { assetAmountInEth, getAssetInfoByAddress } from '@defisaver/tokens';
+import { ZERO_ADDRESS, ZERO_BYTES32 } from '../../constants';
+import {
+  MorphoMidnightBookOffer,
+  MorphoMidnightBookSide,
+  MorphoMidnightMarketData,
+  MorphoMidnightParsedBook,
+  NetworkNumber,
+} from '../../types';
+import { isTenorMidnightMarket, MIDNIGHT_BASE } from '../../markets/morphoMidnight';
+import type {
+  MorphoMidnightBorrowQuote,
+  MorphoMidnightPaybackQuote,
+  MorphoMidnightPaybackUnitsQuote,
+} from './index';
+import {
+  buildMidnightParsedBook,
+  midnightApyFromPrice,
+  midnightBoundPrice,
+  midnightTimeToMaturityDays,
+} from './rate';
+
+
+// Notion doc by Rajko: https://app.notion.com/p/defisaver/Tenor-API-3ba0be682adc80dfad35c81a9a4cb442
+
+const TENOR_QUOTES_URL = 'https://router.tenor.finance/v1/quotes';
+const TENOR_ORDERBOOK_URL = 'https://router.tenor.finance/v1/orderbook';
+const TENOR_TIMEOUT_MS = 15000;
+const TENOR_ALGORITHM = 'branch_and_bound';
+
+const tenorQuoteError = (reason?: string): string => (
+  reason ? `Morpho Midnight quote unavailable: ${reason}` : 'Morpho Midnight quote unavailable'
+);
+
+type TenorBookKey = 'asks' | 'bids';
+export const tenorBookKeyFor = (side: MorphoMidnightBookSide): TenorBookKey => (side === 'bids' ? 'asks' : 'bids');
+
+// Tenor order-book levels are annualized APR in basis points: 25 → 0.25%, 700 → 7%.
+export const tenorBookRateToApyPercent = (rate: Dec.Value): string => new Dec(rate || 0).div(100).toString();
+
+const tenorFillPrice = (assets: Dec.Value, units: Dec.Value): string => (
+  new Dec(units).lte(0) ? '0' : new Dec(assets).div(units).toString()
+);
+
+interface TenorOfferCollateral {
+  token: string;
+  lltv: string | number;
+  liquidation_cursor: string | number;
+  oracle: string;
+}
+
+interface TenorOffer {
+  start: string | number;
+  group?: string;
+  callback?: string;
+  tick: string | number;
+  chain_id: string | number;
+  maturity: string | number;
+  buy: boolean;
+  maker: string;
+  loan_token_address: string;
+  callback_data?: string;
+  expiry: string | number;
+  ratifier?: string;
+  collaterals: TenorOfferCollateral[];
+  continuous_fee_cap: string | number;
+  enter_gate: string;
+  liquidator_gate: string;
+  max_assets: string | number;
+  max_units: string | number;
+  ratifier_data?: string;
+  rcf_threshold: string | number;
+  receiver_if_maker_is_seller?: string;
+  reduce_only: boolean;
+}
+
+interface TenorOfferFill {
+  units: string | number;
+  offer: TenorOffer;
+}
+
+/**
+ * Tenor's offer JSON is flat (market fields live on the offer). Morpho's is nested, and that nested
+ * shape is what the app encodes for `Midnight.take`. Map Tenor into that shape so recipes stay on one encoder.
+ */
+export const tenorOfferToApiOffer = (offer: TenorOffer) => ({
+  market: {
+    chain_id: offer.chain_id,
+    midnight: MIDNIGHT_BASE,
+    loan_token: offer.loan_token_address,
+    collaterals: offer.collaterals || [],
+    maturity: offer.maturity,
+    rcf_threshold: offer.rcf_threshold,
+    enter_gate: offer.enter_gate,
+    liquidator_gate: offer.liquidator_gate,
+  },
+  buy: offer.buy,
+  maker: offer.maker,
+  start: offer.start,
+  expiry: offer.expiry,
+  tick: offer.tick,
+  group: offer.group || ZERO_BYTES32,
+  callback: offer.callback || ZERO_ADDRESS,
+  callback_data: offer.callback_data || '0x',
+  receiver_if_maker_is_seller: offer.receiver_if_maker_is_seller || ZERO_ADDRESS,
+  ratifier: offer.ratifier || ZERO_ADDRESS,
+  reduce_only: offer.reduce_only,
+  max_units: offer.max_units,
+  max_assets: offer.max_assets,
+  continuous_fee_cap: offer.continuous_fee_cap,
+});
+
+export const tenorOfferFillToApiFill = (fill: TenorOfferFill) => ({
+  units: fill.units,
+  offer: tenorOfferToApiOffer(fill.offer),
+  ratifier_data: fill.offer.ratifier_data || '0x',
+  market_id: '',
+});
+
+interface TenorBookBucket {
+  rate: number | string;
+  liquidity: number | string;
+  cumulative_liquidity?: number | string;
+}
+
+interface TenorBookSidePayload {
+  buckets?: TenorBookBucket[];
+}
+
+interface TenorBookResponse {
+  asks?: TenorBookSidePayload | TenorBookBucket[];
+  bids?: TenorBookSidePayload | TenorBookBucket[];
+}
+
+const tenorBookBuckets = (side?: TenorBookSidePayload | TenorBookBucket[]): TenorBookBucket[] => {
+  if (!side) return [];
+  if (Array.isArray(side)) return side;
+  return side.buckets || [];
+};
+
+/** The levels resting on the Tenor side a taker of `side` fills, in raw loan-token base units. */
+export const parseTenorBookSide = (
+  json: TenorBookResponse,
+  side: MorphoMidnightBookSide,
+) => tenorBookBuckets(json[tenorBookKeyFor(side)])
+  .map((bucket) => ({
+    rate: tenorBookRateToApyPercent(bucket.rate),
+    liquidityRaw: new Dec(bucket.liquidity || 0).toFixed(0),
+  }))
+  .filter((offer) => new Dec(offer.liquidityRaw).gt(0));
+
+export const parseTenorOrderBook = (
+  json: TenorBookResponse,
+  side: MorphoMidnightBookSide,
+  loanSymbol: string,
+): MorphoMidnightParsedBook | null => {
+  const offers: MorphoMidnightBookOffer[] = parseTenorBookSide(json, side).map((offer) => ({
+    rate: offer.rate,
+    liquidity: assetAmountInEth(offer.liquidityRaw, loanSymbol),
+  }));
+
+  return buildMidnightParsedBook(offers, side);
+};
+
+const fetchTenorBook = async (marketId: string, network: NetworkNumber): Promise<TenorBookResponse> => {
+  const res = await fetch(
+    `${TENOR_ORDERBOOK_URL}/${marketId}?chain_id=${network}`,
+    { signal: AbortSignal.timeout(TENOR_TIMEOUT_MS) },
+  );
+  if (!res.ok) throw new Error(`Midnight book request failed for ${marketId} (${res.status})`);
+  return res.json();
+};
+
+export const getTenorMarketBook = async (
+  market: MorphoMidnightMarketData,
+  network: NetworkNumber,
+  side: MorphoMidnightBookSide = 'bids',
+): Promise<MorphoMidnightParsedBook | null> => {
+  const loanSymbol = getAssetInfoByAddress(market.loanToken, network).symbol;
+  return parseTenorOrderBook(await fetchTenorBook(market.marketId, network), side, loanSymbol);
+};
+
+const tenorBookAvailableAssetsRaw = async (
+  marketId: string,
+  network: NetworkNumber,
+  side: MorphoMidnightBookSide,
+): Promise<string> => {
+  try {
+    const json = await fetchTenorBook(marketId, network);
+    return parseTenorBookSide(json, side).reduce((sum, offer) => sum.add(offer.liquidityRaw), new Dec(0)).toFixed(0);
+  } catch {
+    return '0';
+  }
+};
+
+interface TenorQuotePayload {
+  units?: string;
+  rate?: string;
+  buyer_assets?: string;
+  seller_assets?: string;
+  offers?: TenorOfferFill[];
+}
+
+interface TenorQuoteResponse extends TenorQuotePayload {
+  quotes?: TenorQuotePayload[];
+  error?: string;
+  message?: string;
+}
+
+const fetchTenorQuote = async ({
+  marketId,
+  side,
+  assets,
+  units,
+  taker,
+  network = NetworkNumber.Base,
+}: {
+  marketId: string,
+  side: MorphoMidnightBookSide,
+  assets?: string,
+  units?: string,
+  taker?: string,
+  network?: NetworkNumber,
+}) => {
+  const hasAssets = assets !== undefined && assets !== null;
+  const hasUnits = units !== undefined && units !== null;
+  if (hasAssets === hasUnits) {
+    throw new Error(tenorQuoteError('Either assets or units must be provided'));
+  }
+  if (side !== 'asks' && side !== 'bids') {
+    throw new Error(tenorQuoteError(`Unsupported Tenor quote side: ${side}`));
+  }
+
+  const isBuy = side === 'asks';
+  const amount = (hasAssets ? assets : units) as string;
+  const res = await fetch(TENOR_QUOTES_URL, {
+    method: 'POST',
+    headers: { 'Content-Type': 'application/json' },
+    body: JSON.stringify({
+      market_hashes: [marketId],
+      amount,
+      chain_id: network,
+      is_buy: isBuy,
+      is_exact_in: hasAssets ? isBuy : !isBuy,
+      limit_rate: null,
+      valid_for: null,
+      algorithm: TENOR_ALGORITHM,
+      allow_partial: false,
+      taker: taker || ZERO_ADDRESS,
+    }),
+    signal: AbortSignal.timeout(TENOR_TIMEOUT_MS),
+  });
+
+  const result: TenorQuoteResponse = await res.json().catch(() => ({} as TenorQuoteResponse));
+  if (!res.ok) {
+    throw new Error(tenorQuoteError(result.error || result.message || `Tenor quote request failed with status ${res.status}`));
+  }
+
+  const payload: TenorQuotePayload = result.quotes?.[0] || result;
+  const quotedUnits = new Dec(payload.units || result.units || 0);
+  const offers = payload.offers || result.offers || [];
+  // A book that can't fill the size comes back 200 with everything zeroed rather than as an error.
+  if (quotedUnits.lte(0) || offers.length === 0) {
+    throw new Error(tenorQuoteError('INSUFFICIENT_LIQUIDITY'));
+  }
+
+  return {
+    units: quotedUnits.toFixed(0),
+    buyerAssets: (payload.buyer_assets || result.buyer_assets || '0').toString(),
+    offerFills: offers.map(tenorOfferFillToApiFill),
+  };
+};
+
+const TENOR_NO_AVAILABLE_UNITS = '0';
+
+/**
+ * Tenor's router takes no slippage of its own — it prices the fill and hands back the offers. `slippagePercent`
+ * is therefore accepted only to keep the signature aligned with the Morpho-hosted quote that `index.ts`
+ * forwards to positionally; the guard comes from `rateSlippagePercent` via `midnightBoundPrice`.
+ */
+export const getTenorBorrowQuote = async (
+  marketId: string,
+  assetsRaw: string,
+  slippagePercent: Dec.Value,
+  maturity: number,
+  maxBorrowRate?: Dec.Value,
+  taker?: string,
+  rateSlippagePercent?: Dec.Value,
+  network: NetworkNumber = NetworkNumber.Base,
+): Promise<MorphoMidnightBorrowQuote> => {
+  if (!isTenorMidnightMarket(marketId)) {
+    throw new Error(tenorQuoteError(`Not a Tenor Midnight market: ${marketId}`));
+  }
+
+  const [quote, availableAssets] = await Promise.all([
+    fetchTenorQuote({
+      marketId, side: 'bids', assets: assetsRaw, taker, network,
+    }),
+    tenorBookAvailableAssetsRaw(marketId, network, 'bids'),
+  ]);
+
+  const ttmDays = midnightTimeToMaturityDays(maturity);
+  const bestPrice = tenorFillPrice(assetsRaw, quote.units);
+  const estBorrowRate = midnightApyFromPrice(bestPrice, ttmDays);
+
+  const capPrice = midnightBoundPrice(estBorrowRate, ttmDays, 'ceiling', maxBorrowRate, rateSlippagePercent);
+  const maxRate = midnightApyFromPrice(capPrice, ttmDays);
+  const maxUnits = new Dec(capPrice).lte(0) ? '0' : new Dec(assetsRaw).div(capPrice).toFixed(0);
+
+  return {
+    bestPrice,
+    worstPrice: capPrice,
+    estBorrowRate,
+    maxRate,
+    newUnits: quote.units,
+    maxUnits,
+    availableAssets,
+    availableUnits: TENOR_NO_AVAILABLE_UNITS,
+    takeableOffers: quote.offerFills,
+  };
+};
+
+export const getTenorPaybackQuote = async (
+  marketId: string,
+  assetsRaw: string,
+  slippagePercent: Dec.Value,
+  maturity: number,
+  minPaybackRate?: Dec.Value,
+  taker?: string,
+  rateSlippagePercent?: Dec.Value,
+  network: NetworkNumber = NetworkNumber.Base,
+): Promise<MorphoMidnightPaybackQuote> => {
+  if (!isTenorMidnightMarket(marketId)) {
+    throw new Error(tenorQuoteError(`Not a Tenor Midnight market: ${marketId}`));
+  }
+
+  const [quote, availableAssets] = await Promise.all([
+    fetchTenorQuote({
+      marketId, side: 'asks', assets: assetsRaw, taker, network,
+    }),
+    tenorBookAvailableAssetsRaw(marketId, network, 'asks'),
+  ]);
+
+  const ttmDays = midnightTimeToMaturityDays(maturity);
+  const bestPrice = tenorFillPrice(assetsRaw, quote.units);
+  const estPaybackRate = midnightApyFromPrice(bestPrice, ttmDays);
+
+  const capPrice = midnightBoundPrice(estPaybackRate, ttmDays, 'floor', minPaybackRate, rateSlippagePercent);
+  const minRate = midnightApyFromPrice(capPrice, ttmDays);
+  const minUnits = new Dec(capPrice).lte(0) ? '0' : new Dec(assetsRaw).div(capPrice).toFixed(0, Dec.ROUND_DOWN);
+
+  return {
+    bestPrice,
+    worstPrice: capPrice,
+    estPaybackRate,
+    minRate,
+    newUnits: quote.units,
+    minUnits,
+    availableAssets,
+    availableUnits: TENOR_NO_AVAILABLE_UNITS,
+    takeableOffers: quote.offerFills,
+  };
+};
+
+export const getTenorPaybackUnitsQuote = async (
+  marketId: string,
+  unitsRaw: string,
+  slippagePercent: Dec.Value,
+  maturity: number,
+  minPaybackRate?: Dec.Value,
+  taker?: string,
+  rateSlippagePercent?: Dec.Value,
+  network: NetworkNumber = NetworkNumber.Base,
+): Promise<MorphoMidnightPaybackUnitsQuote> => {
+  if (!isTenorMidnightMarket(marketId)) {
+    throw new Error(tenorQuoteError(`Not a Tenor Midnight market: ${marketId}`));
+  }
+
+  const [quote, availableAssets] = await Promise.all([
+    fetchTenorQuote({
+      marketId, side: 'asks', units: unitsRaw, taker, network,
+    }),
+    tenorBookAvailableAssetsRaw(marketId, network, 'asks'),
+  ]);
+
+  const ttmDays = midnightTimeToMaturityDays(maturity);
+  const newAssets = quote.buyerAssets;
+  const bestPrice = tenorFillPrice(newAssets, unitsRaw);
+  const estPaybackRate = midnightApyFromPrice(bestPrice, ttmDays);
+
+  const capPrice = midnightBoundPrice(estPaybackRate, ttmDays, 'floor', minPaybackRate, rateSlippagePercent);
+  const minRate = midnightApyFromPrice(capPrice, ttmDays);
+  const maxAssets = new Dec(unitsRaw).mul(capPrice).toFixed(0, Dec.ROUND_UP);
+
+  return {
+    bestPrice,
+    worstPrice: capPrice,
+    estPaybackRate,
+    minRate,
+    newAssets,
+    maxAssets,
+    availableAssets,
+    availableUnits: TENOR_NO_AVAILABLE_UNITS,
+    takeableOffers: quote.offerFills,
+  };
+};

package/src/index.ts

@@ -17,6 +17,7 @@ import * as markets from './markets';
 import * as helpers from './helpers';
 import * as exchange from './exchange';
 import * as morphoBlue from './morphoBlue';
+import * as morphoMidnight from './morphoMidnight';
 import * as llamaLend from './llamaLend';
 import * as portfolio from './portfolio';
 import * as claiming from './claiming';
@@ -41,6 +42,7 @@ export {
   markets,
   helpers,
   morphoBlue,
+  morphoMidnight,
   llamaLend,
   fluid,
   portfolio,

package/src/markets/index.ts

@@ -17,6 +17,9 @@ export {
 export { SparkMarkets } from './spark';
 export { CrvUsdMarkets } from './curveUsd';
 export { MorphoBlueMarkets, findMorphoBlueMarket } from './morphoBlue';
+export {
+  MorphoMidnightMarkets, findMorphoMidnightMarket, isTenorMidnightMarket, morphoMidnightMarketCollateralParams,
+} from './morphoMidnight';
 export { LlamaLendMarkets } from './llamaLend';
 export { LiquityV2Markets, findLiquityV2MarketByAddress } from './liquityV2';
 export {