@gearbox-protocol/sdk 15.1.0-next.4 → 15.1.0-next.6

package/dist/types/sdk/market/credit/isStrategyCollateral.d.ts

@@ -0,0 +1,74 @@
+import { Address } from "viem";
+//#region src/sdk/market/credit/isStrategyCollateral.d.ts
+/**
+ * Withdrawal and redemption phantom tokens that can never be acquired as a
+ * strategy target. Other `PHANTOM_TOKEN::*` types (Convex, Infrared, staking
+ * rewards) can.
+ */
+declare const NON_STRATEGY_PHANTOM_TOKEN_TYPES: readonly ["PHANTOM_TOKEN::INFINIFI_UNWIND", "PHANTOM_TOKEN::MELLOW_WITHDRAWAL", "PHANTOM_TOKEN::MIDAS_REDEMPTION", "PHANTOM_TOKEN::SECURITIZE_RD", "PHANTOM_TOKEN::UPSHIFT_WITHDRAW"];
+/**
+ * Inputs of {@link isStrategyCollateral}, all resolved against the credit
+ * manager, market, and token metadata by the caller.
+ */
+interface IsStrategyCollateralProps {
+  /**
+   * Candidate collateral token.
+   **/
+  token: Address;
+  /**
+   * Credit manager underlying (debt asset).
+   **/
+  underlying: Address;
+  /**
+   * Token the market's underlying wraps (same as `underlying` on non-RWA
+   * markets).
+   */
+  unwrappedUnderlying: Address;
+  /**
+   * Liquidation threshold of the token in this credit manager, in bps.
+   **/
+  liquidationThreshold: number;
+  /**
+   * Gearbox contract type of the token (e.g. `"PHANTOM_TOKEN::CONVEX"`).
+   * Optional — plain tokens have none.
+   */
+  contractType?: string;
+  /**
+   * Whether the token itself is expired (e.g. a matured Pendle PT). Optional
+   * — treated as not expired when absent.
+   */
+  isExpired?: boolean;
+  /**
+   * Latest main oracle price for the token in USD (8 decimals), `undefined`
+   * when there is no feed. A failed answer is `0` — PriceFeedCompressor
+   * guarantees `price == 0` when `success == false`.
+   */
+  mainPrice?: bigint;
+  /**
+   * Whether the market still accepts quota for the token.
+   **/
+  hasActiveQuota: boolean;
+}
+/**
+ * Whether a collateral token can be the target of a leveraged strategy.
+ *
+ * A token qualifies when it
+ *
+ * - has a liquidation threshold above `0` and below `100%`, and is not the
+ *   suite's underlying — borrowing an asset against itself is not a position,
+ *   and an LT of `0` or at least `100%` would mean unbounded leverage;
+ * - is not the token the market's underlying wraps, which for an RWA market
+ *   is the same exposure as the underlying itself (also rejected when
+ *   `contractType` starts with `"RWA_UNDERLYING::"`);
+ * - is not a withdrawal or redemption phantom token listed in
+ *   {@link NON_STRATEGY_PHANTOM_TOKEN_TYPES} — those only ever appear as the
+ *   intermediate step of a withdrawal and cannot be acquired;
+ * - is not an expired token, e.g. a matured Pendle PT;
+ * - has a non-zero main price in the market's oracle — a zero or missing
+ *   answer (e.g. a failed or zero price feed) means the position cannot be
+ *   valued;
+ * - the market still accepts quota for.
+ */
+declare function isStrategyCollateral({ token, underlying, unwrappedUnderlying, liquidationThreshold, contractType, isExpired, mainPrice, hasActiveQuota }: IsStrategyCollateralProps): boolean;
+//#endregion
+export { IsStrategyCollateralProps, NON_STRATEGY_PHANTOM_TOKEN_TYPES, isStrategyCollateral };

package/dist/types/sdk/market/credit/types.d.ts

@@ -127,21 +127,14 @@ interface ICreditManagerContract extends IBaseContract {
    * List of collateral tokens
    */
   collateralTokens: Address[];
-  /**
-   * Collateral tokens a leveraged position can be built around: the underlying
-   * is excluded, because borrowing an asset against itself is not a position,
-   * and so is anything whose liquidation threshold is `0` or at least `100%`,
-   * which would mean unbounded leverage.
-   */
-  readonly leverageableCollaterals: Address[];
   /**
    * Percentage of liquidated account value in bps paid to the liquidator
    * (i.e. `100% - liquidationDiscount`).
    */
   readonly liquidationPremium: Bps;
   /**
-   * Highest leverage a collateral's liquidation threshold allows,
-   * `1 / (1 - lt)`.
+   * Highest total-value leverage a collateral's liquidation threshold allows:
+   * `(1 − 0.05) / (1 − lt)`.
    *
    * @param collateral - Collateral token address.
    * @throws If the credit manager does not value the token.

package/dist/types/sdk/market/index.d.ts

@@ -56,6 +56,7 @@ import { MarketSuite, StrategyRef } from "./MarketSuite.js";
 import { CreditSuite } from "./credit/CreditSuite.js";
 import { dominantCollateral, mustGetDominantCollateral } from "./credit/dominantCollateral.js";
 import { ExpectedBalanceDeltasProps, ExpectedOutput, expectedBalanceDeltas } from "./credit/expectedBalanceDeltas.js";
+import { IsStrategyCollateralProps, NON_STRATEGY_PHANTOM_TOKEN_TYPES, isStrategyCollateral } from "./credit/isStrategyCollateral.js";
 import "./credit/index.js";
 import { CompressorZapperData, ZapperData } from "./types.js";
 import { IZapperContract, ParsedZapperDeposit, ParsedZapperOperation, ParsedZapperRedeem } from "./zapper/types.js";
@@ -66,4 +67,5 @@ import { IERC20ZapperContract } from "./zapper/IERC20ZapperContract.js";
 import { IETHZapperContract } from "./zapper/IETHZapperContract.js";
 import "./zapper/index.js";
 import { MarketRegister, MarketRegistryState, MarketRegistryStateHuman } from "./MarketRegister.js";
-export { AbstractLPPriceFeedContract, AbstractPriceFeedContract, BalanceDelta, BalancerStablePriceFeedContract, BalancerWeightedPriceFeedContract, BoundedPriceFeedContract, CompositePriceFeedContract, CompressorZapperData, CreditAccountTokenQuota, CreditConfiguratorV310Contract, type abi as CreditFacadeV310Abi, abi as creditFacadeV310Abi, CreditFacadeV310BaseContract, CreditFacadeV310Contract, CreditManagerV310Contract, CreditSuite, CurveCryptoPriceFeedContract, CurveStablePriceFeedContract, CurveUSDPriceFeedContract, DStokenData, Erc4626PriceFeedContract, ExpectedBalanceDeltasProps, ExpectedOutput, ExternalPriceFeedContract, type FetchRedstonePayloadsOptions, GaugeContract, GaugeParams, GetOpenAccountRequirementsProps, IAdapterContract, ICreditConfiguratorContract, ICreditFacadeContract, ICreditManagerContract, IERC20ZapperContract, IETHZapperContract, IInterestRateModelContract, IPoolContract, IPriceFeedContract, IPriceOracleContract, IRWAFactory, IRateKeeperContract, IUpdatablePriceFeedContract, IZapperContract, InterestRateModelType, LatestUpdate, LinearInterestRateModelContract, LiquidationFees, MarketRegister, MarketRegistryState, MarketRegistryStateHuman, MarketSuite, MellowLRTPriceFeedContract, MidasLiquidatorContract, PHANTOM_TOKEN_MIDAS_REDEMPTION, PHANTOM_TOKEN_SECURITIZE_REDEMPTION, ParsedZapperDeposit, ParsedZapperOperation, ParsedZapperRedeem, PartialLiquidationParams, PartialPriceFeedInitError, PartialPriceFeedTreeNode, PendleTWAPPTPriceFeed, PlaceholderAdapterContract, PlaceholderAdapterContractOptions, PoolQuotaKeeperContract, PoolSuite, PoolV310Contract, PrepareUpdateQuotasProps, PriceFeedConstructorArgs, PriceFeedContractType, PriceFeedRef, PriceFeedRegister, PriceFeedRegisterHooks, PriceFeedRegisterOptions, PriceFeedUsageType, PriceFeedsForAccountOptions, PriceFeedsForTokensOptions, PriceOracleV310Contract, PriceUpdate, PythPriceFeed, RWACompressorCall, RWACompressorInvestorData, RWACompressorResponse, RWAFactoryData, RWAFactoryStateHuman, RWAFactoryType, RWAInvestorData, RWAMissingOpenAccountRequirements, RWAOpenAccountRequirements, RWAOperationArgs, RWARegistry, RWAState, RWAStateHuman, RWAUnderlyingData, RWA_FACTORY_SECURITIZE, RWA_FACTORY_TYPES, RWA_LIQUIDATOR_MIDAS, RWA_LIQUIDATOR_SECURITIZE, RampEvent, RateKeeperType, RedstonePriceFeedContract, SECURITIZE_REGISTER_VAULT_TYPES, SecuritizeCreditAccountData, SecuritizeInvestorData, SecuritizeLiquidatorContract, SecuritizeMissingOpenAccountRequirements, SecuritizeOpenAccountRequirements, SecuritizeOperationArgs, SecuritizeRWAFactory, SecuritizeRWAFactoryStateHuman, SecuritizeRegisterMessage, SecuritizeRegisterVaultMessage, SecuritizeSignature, StrategyRef, type TimestampedCalldata, UnsupportedZapperFunctionError, UpdatePriceFeedsResult, WstETHPriceFeedContract, YearnPriceFeedContract, ZapperContract, ZapperData, ZeroPriceFeedContract, createAdapter, createPriceOracle, createZapper, dominantCollateral, expectedBalanceDeltas, fetchRedstonePayloads, getRawPriceUpdates, isLPPriceFeed, isRWAFactory, isUpdatablePriceFeed, mustGetDominantCollateral };
+import { MAX_LEVERAGE_BUFFER_BPS, OptimalRepaidAmountProps, PARTIAL_LIQUIDATION_BUFFER_BPS, calcAdditionalBorrowApy, calcBorrowApy, calcMaxLeverage, calcPositionLeverage, calcUtilization, healthFactorBps, minSeizedAmount, optimalHFForPartialLiquidation, optimalRepaidAmount, rayToBps, usdToNumber } from "./math.js";
+export { AbstractLPPriceFeedContract, AbstractPriceFeedContract, BalanceDelta, BalancerStablePriceFeedContract, BalancerWeightedPriceFeedContract, BoundedPriceFeedContract, CompositePriceFeedContract, CompressorZapperData, CreditAccountTokenQuota, CreditConfiguratorV310Contract, type abi as CreditFacadeV310Abi, abi as creditFacadeV310Abi, CreditFacadeV310BaseContract, CreditFacadeV310Contract, CreditManagerV310Contract, CreditSuite, CurveCryptoPriceFeedContract, CurveStablePriceFeedContract, CurveUSDPriceFeedContract, DStokenData, Erc4626PriceFeedContract, ExpectedBalanceDeltasProps, ExpectedOutput, ExternalPriceFeedContract, type FetchRedstonePayloadsOptions, GaugeContract, GaugeParams, GetOpenAccountRequirementsProps, IAdapterContract, ICreditConfiguratorContract, ICreditFacadeContract, ICreditManagerContract, IERC20ZapperContract, IETHZapperContract, IInterestRateModelContract, IPoolContract, IPriceFeedContract, IPriceOracleContract, IRWAFactory, IRateKeeperContract, IUpdatablePriceFeedContract, IZapperContract, InterestRateModelType, IsStrategyCollateralProps, LatestUpdate, LinearInterestRateModelContract, LiquidationFees, MAX_LEVERAGE_BUFFER_BPS, MarketRegister, MarketRegistryState, MarketRegistryStateHuman, MarketSuite, MellowLRTPriceFeedContract, MidasLiquidatorContract, NON_STRATEGY_PHANTOM_TOKEN_TYPES, OptimalRepaidAmountProps, PARTIAL_LIQUIDATION_BUFFER_BPS, PHANTOM_TOKEN_MIDAS_REDEMPTION, PHANTOM_TOKEN_SECURITIZE_REDEMPTION, ParsedZapperDeposit, ParsedZapperOperation, ParsedZapperRedeem, PartialLiquidationParams, PartialPriceFeedInitError, PartialPriceFeedTreeNode, PendleTWAPPTPriceFeed, PlaceholderAdapterContract, PlaceholderAdapterContractOptions, PoolQuotaKeeperContract, PoolSuite, PoolV310Contract, PrepareUpdateQuotasProps, PriceFeedConstructorArgs, PriceFeedContractType, PriceFeedRef, PriceFeedRegister, PriceFeedRegisterHooks, PriceFeedRegisterOptions, PriceFeedUsageType, PriceFeedsForAccountOptions, PriceFeedsForTokensOptions, PriceOracleV310Contract, PriceUpdate, PythPriceFeed, RWACompressorCall, RWACompressorInvestorData, RWACompressorResponse, RWAFactoryData, RWAFactoryStateHuman, RWAFactoryType, RWAInvestorData, RWAMissingOpenAccountRequirements, RWAOpenAccountRequirements, RWAOperationArgs, RWARegistry, RWAState, RWAStateHuman, RWAUnderlyingData, RWA_FACTORY_SECURITIZE, RWA_FACTORY_TYPES, RWA_LIQUIDATOR_MIDAS, RWA_LIQUIDATOR_SECURITIZE, RampEvent, RateKeeperType, RedstonePriceFeedContract, SECURITIZE_REGISTER_VAULT_TYPES, SecuritizeCreditAccountData, SecuritizeInvestorData, SecuritizeLiquidatorContract, SecuritizeMissingOpenAccountRequirements, SecuritizeOpenAccountRequirements, SecuritizeOperationArgs, SecuritizeRWAFactory, SecuritizeRWAFactoryStateHuman, SecuritizeRegisterMessage, SecuritizeRegisterVaultMessage, SecuritizeSignature, StrategyRef, type TimestampedCalldata, UnsupportedZapperFunctionError, UpdatePriceFeedsResult, WstETHPriceFeedContract, YearnPriceFeedContract, ZapperContract, ZapperData, ZeroPriceFeedContract, calcAdditionalBorrowApy, calcBorrowApy, calcMaxLeverage, calcPositionLeverage, calcUtilization, createAdapter, createPriceOracle, createZapper, dominantCollateral, expectedBalanceDeltas, fetchRedstonePayloads, getRawPriceUpdates, healthFactorBps, isLPPriceFeed, isRWAFactory, isStrategyCollateral, isUpdatablePriceFeed, minSeizedAmount, mustGetDominantCollateral, optimalHFForPartialLiquidation, optimalRepaidAmount, rayToBps, usdToNumber };

package/dist/types/sdk/market/math.d.ts

@@ -7,7 +7,8 @@ import "../../model/index.js";
  *
  * @example
  * ```ts
- * rayToBps(50_000_000_000_000_000_000_000_000n) // 500, i.e. 5%
+ * // ray: 5% (0.05 × 10²⁷)
+ * rayToBps(50_000_000_000_000_000_000_000_000n) // 500 bps = 5%
  * ```
  **/
 declare function rayToBps(ray: bigint): Bps;
@@ -16,6 +17,7 @@ declare function rayToBps(ray: bigint): Bps;
  *
  * @example
  * ```ts
+ * // usd: $1500.50 in 8-decimal fixed point
  * usdToNumber(150_050_000_000n) // 1500.5
  * ```
  **/
@@ -26,78 +28,86 @@ declare function usdToNumber(usd: bigint): number;
  *
  * @example
  * ```ts
- * utilizationBps(750n, 1000n) // 7500, i.e. 75%
+ * // borrowed: 750, total: 1000
+ * calcUtilization(750n, 1000n) // 750 / 1000 = 7500 bps = 75%
  * ```
  **/
-declare function utilizationBps(borrowed: bigint, total: bigint): Bps;
+declare function calcUtilization(borrowed: bigint, total: bigint): Bps;
 /**
- * Annual cost of debt for a credit manager, in basis points: the pool's base
- * rate plus the protocol's cut of the accrued interest.
+ * Annual cost of debt for a credit manager, in basis points:
+ * `baseInterestRate × (1 + feeInterest)` — the pool's base rate plus the
+ * protocol's cut of the accrued interest.
  *
  * @param baseInterestRate - Pool base rate in ray.
  * @param feeInterest - Credit manager interest fee in basis points.
  *
  * @example
  * ```ts
- * // 5% base rate, 50% interest fee
- * borrowApyBps(50_000_000_000_000_000_000_000_000n, 5000) // 750, i.e. 7.5%
+ * // baseInterestRate: 5% in ray, feeInterest: 5000 bps = 50%
+ * calcBorrowApy(50_000_000_000_000_000_000_000_000n, 5000) // 5% × 1.5 = 750 bps = 7.5%
  * ```
  **/
-declare function borrowApyBps(baseInterestRate: bigint, feeInterest: number): Bps;
+declare function calcBorrowApy(baseInterestRate: bigint, feeInterest: number): Bps;
 /**
- * Highest leverage a liquidation threshold allows: `1 / (1 - lt)`.
- *
- * A threshold of 100% or more would allow unbounded leverage; such tokens are
- * not strategies and are filtered out before this is called, so the guard here
- * only exists to keep the function total.
+ * 5% safety margin subtracted from 100% in {@link calcMaxLeverage}, so a
+ * maxed position opens with HF slightly above 1.
+ **/
+declare const MAX_LEVERAGE_BUFFER_BPS = 500;
+/**
+ * Highest total-value leverage a liquidation threshold allows:
+ * `(100% − buffer) / (100% − liquidationThreshold)`. At HF = 1, debt is
+ * `liquidationThreshold × totalValue`, leaving `1 − liquidationThreshold` of
+ * equity per unit of exposure; the {@link MAX_LEVERAGE_BUFFER_BPS} buffer
+ * keeps the maxed position slightly away from that boundary.
  *
  * @example
  * ```ts
- * maxLeverage(9000) // 10
- * maxLeverage(8000) // 5
+ * // liquidationThreshold: 9000 bps = 90%
+ * calcMaxLeverage(9000) // (1 − 0.05) / (1 − 0.9) = 9.5x total exposure
  * ```
  **/
-declare function maxLeverage(liquidationThreshold: Bps): Leverage;
+declare function calcMaxLeverage(liquidationThreshold: Bps): Leverage;
 /**
  * Converts a credit account's health factor from the 18-decimal fixed point the
  * contracts store to basis points.
  *
- * An account with no debt return MAX_UINT256 from contract, here we return 0
+ * Accounts with no debt store `MAX_UINT256` on-chain; for those this
+ * returns `0`.
  *
  * @example
  * ```ts
- * healthFactorBps(1_250_000_000_000_000_000n) // 12500, i.e. 1.25
+ * // healthFactor: 1.25 in 18-decimal fixed point
+ * healthFactorBps(1_250_000_000_000_000_000n) // 12500 bps = 1.25
  * ```
  **/
 declare function healthFactorBps(healthFactor: bigint): Bps;
 /**
- * Leverage of an open position: `totalDebt / equity`, where equity is what is
- * left of the position's value once its debt is repaid.
- *
- * Returns `0` for a position that carries no debt and for one that is
- * underwater, where there is no equity to lever.
+ * Total-value leverage of an open position:
+ * `totalValue / (totalValue − totalDebt)`. `1` when unleveraged, `0` when
+ * underwater.
  *
- * @param totalDebt - Debt principal plus accrued interest and fees.
- * @param totalValue - Total value of the position, in the same token.
+ * @param totalValue - Total value of the position.
+ * @param totalDebt - Debt principal plus accrued interest and fees, same token.
  *
  * @example
  * ```ts
- * positionLeverage(800n, 1000n) // 4, i.e. 4x debt per unit of equity
+ * // totalValue: 100k, totalDebt: 80k → equity: 100k − 80k = 20k
+ * calcPositionLeverage(100_000n, 80_000n) // 100k / 20k = 5x
  * ```
  **/
-declare function positionLeverage(totalDebt: bigint, totalValue: bigint): Leverage;
+declare function calcPositionLeverage(totalValue: bigint, totalDebt: bigint): Leverage;
 /**
- * Annual quota cost scaled to the debt a maximally leveraged position carries,
- * in basis points. Every unit of own capital carries `maxLeverage - 1` units of
- * debt, and the quota is paid on the whole quoted position.
+ * Annual quota cost on equity, in basis points:
+ * `quotaRate × (1 + feeInterest) × leverage`. Quota accrues on the whole
+ * quoted position, and the DAO takes `feeInterest` of it as with base interest.
  *
  * @example
  * ```ts
- * // 2.5% quota rate at 5x leverage
- * additionalBorrowApyBps(250, 5) // 1000, i.e. 10%
+ * // quotaRate: 200 bps = 2%, feeInterest: 2500 bps = 25%, leverage: 9.5x
+ * calcAdditionalBorrowApy(200, 2500, 9.5) // 2% × 1.25 × 9.5 = 2375 bps = 23.75%
  * ```
  **/
-declare function additionalBorrowApyBps(quotaRate: Bps, leverage: Leverage): Bps;
+declare function calcAdditionalBorrowApy(quotaRate: Bps, feeInterest: Bps, leverage: Leverage): Bps;
 /**
  * {@link PERCENTAGE_FACTOR} less a 0.1% safety buffer.
  *
@@ -158,4 +168,4 @@ declare function optimalRepaidAmount({ totalDebt, twvUnderlying, minDebt, optima
  **/
 declare function optimalHFForPartialLiquidation(borrowRate: bigint): bigint;
 //#endregion
-export { OptimalRepaidAmountProps, PARTIAL_LIQUIDATION_BUFFER_BPS, additionalBorrowApyBps, borrowApyBps, healthFactorBps, maxLeverage, minSeizedAmount, optimalHFForPartialLiquidation, optimalRepaidAmount, positionLeverage, rayToBps, usdToNumber, utilizationBps };
+export { MAX_LEVERAGE_BUFFER_BPS, OptimalRepaidAmountProps, PARTIAL_LIQUIDATION_BUFFER_BPS, calcAdditionalBorrowApy, calcBorrowApy, calcMaxLeverage, calcPositionLeverage, calcUtilization, healthFactorBps, minSeizedAmount, optimalHFForPartialLiquidation, optimalRepaidAmount, rayToBps, usdToNumber };

package/dist/types/sdk/opportunities/index.d.ts

@@ -1,4 +1,3 @@
-import { OptimalRepaidAmountProps, PARTIAL_LIQUIDATION_BUFFER_BPS, additionalBorrowApyBps, borrowApyBps, healthFactorBps, maxLeverage, minSeizedAmount, optimalHFForPartialLiquidation, optimalRepaidAmount, positionLeverage, rayToBps, usdToNumber, utilizationBps } from "../market/math.js";
 import { MultichainOpportunitiesService } from "./MultichainOpportunitiesService.js";
 import { OpportunitiesService } from "./OpportunitiesService.js";
-export { MultichainOpportunitiesService, OpportunitiesService, OptimalRepaidAmountProps, PARTIAL_LIQUIDATION_BUFFER_BPS, additionalBorrowApyBps, borrowApyBps, healthFactorBps, maxLeverage, minSeizedAmount, optimalHFForPartialLiquidation, optimalRepaidAmount, positionLeverage, rayToBps, usdToNumber, utilizationBps };
+export { MultichainOpportunitiesService, OpportunitiesService };

package/package.json

@@ -1,6 +1,6 @@
 {
   "name": "@gearbox-protocol/sdk",
-  "version": "15.1.0-next.4",
+  "version": "15.1.0-next.6",
   "description": "Gearbox SDK",
   "license": "MIT",
   "repository": {