@morpho-dev/router 0.7.2 → 0.8.0

package/dist/index.node.js

@@ -2122,7 +2122,7 @@ const OfferSchema = () => {
 		assets: zod.bigint({ coerce: true }).min(0n).max(viem.maxUint256),
 		obligationUnits: zod.bigint({ coerce: true }).min(0n).max(viem.maxUint256).optional().default(0n),
 		obligationShares: zod.bigint({ coerce: true }).min(0n).max(viem.maxUint256).optional().default(0n),
-		price: zod.bigint({ coerce: true }).min(0n).max(viem.maxUint256),
+		tick: zod.coerce.number().int().min(0).max(990),
 		maturity: MaturitySchema,
 		expiry: zod.number().int().max(Number.MAX_SAFE_INTEGER),
 		start: zod.number().int().max(Number.MAX_SAFE_INTEGER),
@@ -2194,7 +2194,7 @@ const serialize = (offer) => ({
 	assets: offer.assets.toString(),
 	obligationUnits: offer.obligationUnits.toString(),
 	obligationShares: offer.obligationShares.toString(),
-	price: offer.price.toString(),
+	tick: offer.tick,
 	maturity: Number(offer.maturity),
 	expiry: Number(offer.expiry),
 	start: Number(offer.start),
@@ -2239,14 +2239,13 @@ function random$1(config) {
 		[.98, 2]
 	]));
 	const buy = config?.buy !== void 0 ? config.buy : bool();
-	const ONE = 1000000000000000000n;
-	const qMin = buy ? 16 : 4;
-	const len = (buy ? 32 : 16) - qMin + 1;
-	const pricePairs = Array.from({ length: len }, (_, idx) => {
-		const q = qMin + idx;
-		return [BigInt(q) * (ONE / 4n), buy ? 1 + idx : 1 + (len - 1 - idx)];
+	const tickMin = buy ? 0 : 495;
+	const len = (buy ? 495 : 990) - tickMin + 1;
+	const tickPairs = Array.from({ length: len }, (_, idx) => {
+		const weight = buy ? 1 + idx : 1 + (len - 1 - idx);
+		return [tickMin + idx, weight];
 	});
-	const price = config?.price ?? weightedChoice(pricePairs);
+	const tick = config?.tick ?? weightedChoice(tickPairs);
 	const loanTokenDecimals = config?.assetsDecimals?.[loanToken] ?? 18;
 	const unit = BigInt(10) ** BigInt(loanTokenDecimals);
 	const amountBase = BigInt(100 + int(999901));
@@ -2260,7 +2259,7 @@ function random$1(config) {
 		assets: assetsScaled,
 		obligationUnits: config?.obligationUnits ?? 0n,
 		obligationShares: config?.obligationShares ?? 0n,
-		price,
+		tick,
 		maturity,
 		expiry: config?.expiry ?? maturity - 1,
 		start: config?.start ?? maturity - 10,
@@ -2325,7 +2324,7 @@ const types = {
 			type: "uint256"
 		},
 		{
-			name: "price",
+			name: "tick",
 			type: "uint256"
 		},
 		{
@@ -2393,7 +2392,7 @@ function hash(offer) {
 			assets: offer.assets,
 			obligationUnits: offer.obligationUnits,
 			obligationShares: offer.obligationShares,
-			price: offer.price,
+			tick: BigInt(offer.tick),
 			maturity: BigInt(offer.maturity),
 			expiry: BigInt(offer.expiry),
 			group: offer.group,
@@ -2444,7 +2443,7 @@ const OfferAbi = [
 		type: "uint256"
 	},
 	{
-		name: "price",
+		name: "tick",
 		type: "uint256"
 	},
 	{
@@ -2515,7 +2514,7 @@ function encode$1(offer) {
 		offer.assets,
 		offer.obligationUnits,
 		offer.obligationShares,
-		offer.price,
+		BigInt(offer.tick),
 		BigInt(offer.maturity),
 		BigInt(offer.expiry),
 		offer.group,
@@ -2540,7 +2539,7 @@ function decode$1(data) {
 		assets: decoded[1],
 		obligationUnits: decoded[2],
 		obligationShares: decoded[3],
-		price: decoded[4],
+		tick: Number(decoded[4]),
 		maturity: from$16(Number(decoded[5])),
 		expiry: Number(decoded[6]),
 		group: decoded[7],
@@ -2890,6 +2889,85 @@ var InvalidQuoteError = class extends BaseError {
 	}
 };
 
+//#endregion
+//#region src/core/Tick.ts
+var Tick_exports = /* @__PURE__ */ __exportAll({
+	InvalidPriceError: () => InvalidPriceError,
+	InvalidTickError: () => InvalidTickError,
+	MAX_PRICE: () => MAX_PRICE,
+	TICK_RANGE: () => TICK_RANGE,
+	priceToTick: () => priceToTick,
+	tickToPrice: () => tickToPrice
+});
+/** ln(1 + 0.025), scaled by 1e18. Matches TickLib onchain constant. */
+const LN_ONE_PLUS_DELTA = 24692612590371501n;
+/** ln(2), scaled by 1e18. Matches TickLib onchain constant. */
+const LN2 = 693147180559945309n;
+const WAD$1 = 10n ** 18n;
+const WAD_SQUARED = 10n ** 36n;
+const PRICE_STEP = 10n ** 13n;
+const HALF_TICK_RANGE = 495n;
+/** Tick domain supported by Morpho V2. */
+const TICK_RANGE = 990;
+/** Max allowed price (1e18 in wad). */
+const MAX_PRICE = WAD$1;
+/**
+* Converts a tick to a wad price using the same approximation and rounding as TickLib.
+* @param tick - Tick value in the inclusive range [0, 990].
+* @returns The price in wad units.
+* @throws {@link InvalidTickError} If tick is not an integer in range [0, 990].
+*/
+function tickToPrice(tick) {
+	assertTick(tick);
+	return divHalfDownUnchecked(divHalfDownUnchecked(WAD_SQUARED, WAD$1 + wExp(LN_ONE_PLUS_DELTA * (HALF_TICK_RANGE - BigInt(tick)))), PRICE_STEP) * PRICE_STEP;
+}
+/**
+* Returns the lowest tick with a higher-or-equal price.
+* @param price - Price in wad units.
+* @returns The first tick whose {@link tickToPrice} is greater than or equal to `price`.
+* @throws {@link InvalidPriceError} If price is outside [0, 1e18].
+*/
+function priceToTick(price) {
+	assertPrice(price);
+	let low = 0;
+	let high = TICK_RANGE;
+	while (low !== high) {
+		const mid = Math.floor((low + high) / 2);
+		if (tickToPrice(mid) < price) low = mid + 1;
+		else high = mid;
+	}
+	return low;
+}
+function divHalfDownUnchecked(x, d) {
+	return (x + (d - 1n) / 2n) / d;
+}
+function wExp(x) {
+	if (x < 0n) return WAD_SQUARED / wExp(-x);
+	const q = (x + LN2 / 2n) / LN2;
+	const r = x - q * LN2;
+	const secondTerm = r * r / (2n * WAD$1);
+	const thirdTerm = secondTerm * r / (3n * WAD$1);
+	return WAD$1 + r + secondTerm + thirdTerm << q;
+}
+function assertTick(tick) {
+	if (!Number.isInteger(tick) || tick < 0 || tick > TICK_RANGE) throw new InvalidTickError(tick);
+}
+function assertPrice(price) {
+	if (price < 0n || price > MAX_PRICE) throw new InvalidPriceError(price);
+}
+var InvalidTickError = class extends BaseError {
+	name = "Tick.InvalidTickError";
+	constructor(tick) {
+		super(`Invalid tick: ${tick}. Tick must be an integer between 0 and ${TICK_RANGE}.`);
+	}
+};
+var InvalidPriceError = class extends BaseError {
+	name = "Tick.InvalidPriceError";
+	constructor(price) {
+		super(`Invalid price: ${price}. Price must be between 0 and ${MAX_PRICE}.`);
+	}
+};
+
 //#endregion
 //#region src/core/TradingFee.ts
 var TradingFee_exports = /* @__PURE__ */ __exportAll({
@@ -3403,7 +3481,7 @@ const BrandTypeId = Symbol.for("mempool/Brand");
 
 //#endregion
 //#region src/database/drizzle/VERSION.ts
-const VERSION = "router_v1.6";
+const VERSION = "router_v1.8";
 
 //#endregion
 //#region src/database/drizzle/schema.ts
@@ -3555,10 +3633,7 @@ const offers = s.table(EnumTableName.OFFERS, {
 		precision: 78,
 		scale: 0
 	}).notNull().default("0"),
-	price: (0, drizzle_orm_pg_core.numeric)("price", {
-		precision: 78,
-		scale: 0
-	}).notNull(),
+	tick: (0, drizzle_orm_pg_core.integer)("tick").notNull(),
 	maturity: (0, drizzle_orm_pg_core.integer)("maturity").notNull(),
 	expiry: (0, drizzle_orm_pg_core.integer)("expiry").notNull(),
 	start: (0, drizzle_orm_pg_core.integer)("start").notNull(),
@@ -3623,6 +3698,7 @@ const lots = s.table(EnumTableName.LOTS, {
 	user: (0, drizzle_orm_pg_core.varchar)("user", { length: 42 }).notNull(),
 	contract: (0, drizzle_orm_pg_core.varchar)("contract", { length: 42 }).notNull(),
 	group: (0, drizzle_orm_pg_core.varchar)("group", { length: 66 }).notNull(),
+	obligationId: (0, drizzle_orm_pg_core.varchar)("obligation_id", { length: 66 }).notNull(),
 	lower: (0, drizzle_orm_pg_core.numeric)("lower", {
 		precision: 78,
 		scale: 0
@@ -3637,7 +3713,8 @@ const lots = s.table(EnumTableName.LOTS, {
 			table.chainId,
 			table.user,
 			table.contract,
-			table.group
+			table.group,
+			table.obligationId
 		],
 		name: "lots_pk"
 	}),
@@ -3673,6 +3750,7 @@ const offsets = s.table(EnumTableName.OFFSETS, {
 	user: (0, drizzle_orm_pg_core.varchar)("user", { length: 42 }).notNull(),
 	contract: (0, drizzle_orm_pg_core.varchar)("contract", { length: 42 }).notNull(),
 	group: (0, drizzle_orm_pg_core.varchar)("group", { length: 66 }).notNull(),
+	obligationId: (0, drizzle_orm_pg_core.varchar)("obligation_id", { length: 66 }).notNull(),
 	value: (0, drizzle_orm_pg_core.numeric)("value", {
 		precision: 78,
 		scale: 0
@@ -3682,7 +3760,8 @@ const offsets = s.table(EnumTableName.OFFSETS, {
 		table.chainId,
 		table.user,
 		table.contract,
-		table.group
+		table.group,
+		table.obligationId
 	],
 	name: "offsets_pk"
 }), (0, drizzle_orm_pg_core.foreignKey)({
@@ -4273,6 +4352,7 @@ function decodeCallbacks(parameters) {
 			positionContract: loanToken,
 			positionUser: offer.maker,
 			group: offer.group,
+			obligationId: obligationId(offer),
 			size: offer.assets
 		});
 		callbacks.push({
@@ -5211,8 +5291,10 @@ async function getRemoteBlockNumbers(healthClients) {
 //#region src/api/Schema/BookResponse.ts
 var BookResponse_exports = /* @__PURE__ */ __exportAll({ from: () => from$5 });
 function from$5(level) {
+	const price = tickToPrice(level.tick);
 	return {
-		price: level.price.toString(),
+		tick: level.tick,
+		price: price.toString(),
 		assets: level.assets.toString(),
 		count: level.count
 	};
@@ -5317,7 +5399,7 @@ function from$3(input) {
 			obligation_shares: input.obligationShares.toString(),
 			start: input.start,
 			expiry: input.expiry,
-			price: input.price.toString(),
+			tick: input.tick,
 			group: input.group,
 			session: input.session,
 			callback: input.callback.address,
@@ -5479,7 +5561,7 @@ const offerExample = {
 		obligation_shares: "0",
 		start: 1761922790,
 		expiry: 1761922799,
-		price: "2750000000000000000",
+		tick: 495,
 		group: "0x000000000000000000000000000000000000000000000000000000000008b8f4",
 		session: "0x0000000000000000000000000000000000000000000000000000000000000000",
 		callback: "0x0000000000000000000000000000000000000000",
@@ -5520,7 +5602,7 @@ const validateOfferExample = {
 	assets: "369216000000000000000000",
 	obligation_units: "0",
 	obligation_shares: "0",
-	price: "2750000000000000000",
+	tick: 495,
 	maturity: 1761922799,
 	expiry: 1761922799,
 	start: 1761922790,
@@ -5664,9 +5746,11 @@ __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	example: offerExample.offer.expiry
 })], OfferDataResponse.prototype, "expiry", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
-	type: "string",
-	example: offerExample.offer.price
-})], OfferDataResponse.prototype, "price", void 0);
+	type: "number",
+	example: offerExample.offer.tick,
+	minimum: 0,
+	maximum: 990
+})], OfferDataResponse.prototype, "tick", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	type: "string",
 	example: offerExample.offer.group
@@ -5907,9 +5991,11 @@ __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	required: false
 })], ValidateOfferRequest.prototype, "obligation_shares", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
-	type: "string",
-	example: validateOfferExample.price
-})], ValidateOfferRequest.prototype, "price", void 0);
+	type: "number",
+	example: validateOfferExample.tick,
+	minimum: 0,
+	maximum: 990
+})], ValidateOfferRequest.prototype, "tick", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	type: "number",
 	example: validateOfferExample.maturity
@@ -6009,9 +6095,16 @@ __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	description: "List of validation issues. Returned when any offer fails validation."
 })], ValidationFailureResponse.prototype, "data", void 0);
 var BookLevelResponse = class {};
+__decorate([(0, openapi_metadata_decorators.ApiProperty)({
+	type: "number",
+	example: 495,
+	minimum: 0,
+	maximum: 990
+})], BookLevelResponse.prototype, "tick", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	type: "string",
-	example: "2750000000000000000"
+	example: "500000000000000000",
+	description: "Price derived from tick, scaled by 1e18."
 })], BookLevelResponse.prototype, "price", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	type: "string",
@@ -6025,6 +6118,7 @@ const positionExample = {
 	chain_id: 1,
 	contract: "0xC9A9C45C0eB717f8b5F193Af6bAa05A1c0Ac5078",
 	user: "0x7b093658BE7f90B63D7c359e8f408e503c2D9401",
+	obligation_id: "0x12590ae1aee324a005be565f3bcdd16dbf8daf7969b26c181c8b8f467dad9f67",
 	reserved: "200000000000000000000",
 	block_number: 21345678
 };
@@ -6041,6 +6135,12 @@ __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	type: "string",
 	example: positionExample.user
 })], PositionListItemResponse.prototype, "user", void 0);
+__decorate([(0, openapi_metadata_decorators.ApiProperty)({
+	type: "string",
+	nullable: true,
+	example: positionExample.obligation_id,
+	description: "Obligation id this reserved amount belongs to, or null if no lots exist."
+})], PositionListItemResponse.prototype, "obligation_id", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	type: "string",
 	example: positionExample.reserved
@@ -6068,7 +6168,7 @@ __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 })], BookListResponse.prototype, "cursor", void 0);
 __decorate([(0, openapi_metadata_decorators.ApiProperty)({
 	type: () => [BookLevelResponse],
-	description: "Aggregated book levels grouped by computed price."
+	description: "Aggregated book levels grouped by offer tick."
 })], BookListResponse.prototype, "data", void 0);
 let BooksController = class BooksController {
 	async getBook() {}
@@ -6078,7 +6178,7 @@ __decorate([
 		methods: ["get"],
 		path: "/v1/books/{obligationId}/{side}",
 		summary: "Get aggregated book",
-		description: "Returns aggregated book data for a given obligation and side. Offers are grouped by computed price with summed takeable amounts. Book levels are sorted by price (ascending for buy side, descending for sell side)."
+		description: "Returns aggregated book data for a given obligation and side. Offers are grouped by tick with summed takeable amounts, and each level includes the corresponding wad-scaled price. Book levels are sorted by tick (ascending for sell side, descending for buy side)."
 	}),
 	(0, openapi_metadata_decorators.ApiParam)({
 		name: "obligationId",
@@ -6103,7 +6203,7 @@ __decorate([
 		name: "limit",
 		type: "number",
 		example: 10,
-		description: "Maximum number of price levels to return."
+		description: "Maximum number of tick levels to return."
 	}),
 	(0, openapi_metadata_decorators.ApiResponse)({
 		status: 200,
@@ -6297,6 +6397,11 @@ const configRulesLoanTokenExample = {
 	chain_id: 1,
 	address: "0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48"
 };
+const configRulesCollateralTokenExample = {
+	type: "collateral_token",
+	chain_id: 1,
+	address: "0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0"
+};
 const configRulesOracleExample = {
 	type: "oracle",
 	chain_id: 1,
@@ -6306,6 +6411,7 @@ const configRulesChecksumExample = "f1d2d2f924e986ac86fdf7b36c94bcdf";
 const configRulesPayloadExample = [
 	configRulesMaturityExample,
 	configRulesLoanTokenExample,
+	configRulesCollateralTokenExample,
 	configRulesOracleExample
 ];
 const configContractNames = [
@@ -6432,7 +6538,7 @@ __decorate([
 		methods: ["get"],
 		path: "/v1/config/rules",
 		summary: "Get config rules",
-		description: "Returns configured rules (maturities, loan tokens, oracles) for supported chains."
+		description: "Returns configured rules (maturities, loan tokens, collateral tokens, oracles) for supported chains."
 	}),
 	(0, openapi_metadata_decorators.ApiQuery)({
 		name: "cursor",
@@ -6452,7 +6558,7 @@ __decorate([
 		name: "types",
 		type: ["string"],
 		required: false,
-		example: "maturity,loan_token,oracle",
+		example: "maturity,loan_token,collateral_token,oracle",
 		description: "Filter by rule types (comma-separated).",
 		style: "form",
 		explode: false
@@ -6570,7 +6676,7 @@ __decorate([
 		methods: ["get"],
 		path: "/v1/users/{userAddress}/positions",
 		summary: "Get user positions",
-		description: "Returns positions for a user with reserved balance. The reserved balance is the amount locked by active offers (max lot upper - offset - consumed)."
+		description: "Returns positions for a user with reserved balance per obligation. Each (position, obligation) pair is returned as a separate row. Positions with no lots return a single row with obligation_id = null and reserved = 0."
 	}),
 	(0, openapi_metadata_decorators.ApiParam)({
 		name: "userAddress",
@@ -6658,6 +6764,7 @@ function from$2(position) {
 		chain_id: position.chainId,
 		contract: position.contract,
 		user: position.user,
+		obligation_id: position.obligationId,
 		reserved: position.reserved.toString(),
 		block_number: position.blockNumber
 	};
@@ -6711,10 +6818,11 @@ const ConfigRuleTypes = zod.enum([
 	"maturity",
 	"callback",
 	"loan_token",
+	"collateral_token",
 	"oracle"
 ]);
 const GetConfigRulesQueryParams = zod.object({
-	cursor: zod.string().regex(/^(maturity|callback|loan_token|oracle):[1-9]\d*:.+$/, { message: "Cursor must be in the format type:chain_id:<value>" }).optional().meta({
+	cursor: zod.string().regex(/^(maturity|callback|loan_token|collateral_token|oracle):[1-9]\d*:.+$/, { message: "Cursor must be in the format type:chain_id:<value>" }).optional().meta({
 		description: "Pagination cursor in type:chain_id:<value> format",
 		example: "maturity:1:1730415600:end_of_next_month"
 	}),
@@ -6724,7 +6832,7 @@ const GetConfigRulesQueryParams = zod.object({
 	}),
 	types: csvArray(ConfigRuleTypes).meta({
 		description: "Filter by rule types (comma-separated).",
-		example: "maturity,loan_token,oracle"
+		example: "maturity,loan_token,collateral_token,oracle"
 	}),
 	chains: csvArray(zod.string().regex(/^[1-9]\d*$/, { message: "Chain must be a positive integer" }).transform((val) => Number.parseInt(val, 10))).meta({
 		description: "Filter by chain IDs (comma-separated).",
@@ -6824,12 +6932,11 @@ const GetObligationParams = zod.object({ obligation_id: zod.string({ error: "Obl
 	description: "Obligation id",
 	example: "0x1234567890123456789012345678901234567890123456789012345678901234"
 }) });
-/** Validate a book cursor format: {side, lastPrice, offersCursor} */
+/** Validate a book cursor format: {side, lastTick, offersCursor} */
 function isValidBookCursor(cursorString) {
-	const isNumericString = (value) => typeof value === "string" && /^-?\d+$/.test(value);
 	try {
 		const v = JSON.parse(Buffer.from(cursorString, "base64url").toString("utf8"));
-		return (v?.side === "buy" || v?.side === "sell") && isNumericString(v?.lastPrice) && (v?.offersCursor === null || typeof v?.offersCursor === "string");
+		return (v?.side === "buy" || v?.side === "sell") && typeof v?.lastTick === "number" && Number.isInteger(v.lastTick) && (v?.offersCursor === null || typeof v?.offersCursor === "string");
 	} catch {
 		return false;
 	}
@@ -6927,7 +7034,7 @@ async function getBook(params, db) {
 			side: query.side,
 			levels_count: levels.length,
 			has_next_cursor: nextCursor != null,
-			first_level_price: firstLevel?.price.toString() ?? null,
+			first_level_tick: firstLevel?.tick ?? null,
 			first_level_assets: firstLevel?.assets.toString() ?? null,
 			first_level_count: firstLevel?.count ?? null
 		});
@@ -7079,6 +7186,33 @@ const assets = {
 		"0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599"
 	]
 };
+const collateralAssets = {
+	[ChainId.ETHEREUM.toString()]: [
+		"0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48",
+		"0x1aBaEA1f7C830bD89Acc67eC4af516284b1bC33c",
+		"0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599",
+		"0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0"
+	],
+	[ChainId.BASE.toString()]: [
+		"0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913",
+		"0x4200000000000000000000000000000000000006",
+		"0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf",
+		"0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452",
+		"0x60a3E35Cc302bFA44Cb288Bc5a4F316Fdb1adb42"
+	],
+	[ChainId["ETHEREUM-VIRTUAL-TESTNET"].toString()]: [
+		"0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48",
+		"0x1aBaEA1f7C830bD89Acc67eC4af516284b1bC33c",
+		"0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599",
+		"0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0"
+	],
+	[ChainId.ANVIL.toString()]: [
+		"0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48",
+		"0x1aBaEA1f7C830bD89Acc67eC4af516284b1bC33c",
+		"0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599",
+		"0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0"
+	]
+};
 const oracles = {
 	[ChainId.ETHEREUM.toString()]: [
 		"0xDddd770BADd886dF3864029e4B377B5F6a2B6b83",
@@ -7138,7 +7272,7 @@ const configs = {
 //#endregion
 //#region src/gatekeeper/ConfigRules.ts
 /**
-* Build the configured rules (maturities + callback addresses + loan tokens + oracles) for the provided chains.
+* Build the configured rules (maturities + callback addresses + loan tokens + collateral tokens + oracles) for the provided chains.
 * @param chains - Chains to include in the configured rules.
 * @returns Sorted list of config rules.
 */
@@ -7158,6 +7292,12 @@ function buildConfigRules(chains) {
 			chain_id: chain.id,
 			address: normalizeAddress(address)
 		});
+		const collateralTokens = collateralAssets[chain.id.toString()] ?? [];
+		for (const address of collateralTokens) rules.push({
+			type: "collateral_token",
+			chain_id: chain.id,
+			address: normalizeAddress(address)
+		});
 		const oracles$2 = oracles[chain.id.toString()] ?? [];
 		for (const address of oracles$2) rules.push({
 			type: "oracle",
@@ -7185,6 +7325,10 @@ function buildConfigRulesChecksum(rules) {
 			hash.update(`callback:${rule.chain_id}:${rule.callback_type}:${rule.address}\n`);
 			continue;
 		}
+		if (rule.type === "collateral_token") {
+			hash.update(`collateral_token:${rule.chain_id}:${rule.address}\n`);
+			continue;
+		}
 		if (rule.type === "oracle") {
 			hash.update(`oracle:${rule.chain_id}:${rule.address}\n`);
 			continue;
@@ -7205,6 +7349,7 @@ function compareConfigRules(left, right) {
 		return left.address.localeCompare(right.address);
 	}
 	if (left.type === "loan_token" && right.type === "loan_token") return left.address.localeCompare(right.address);
+	if (left.type === "collateral_token" && right.type === "collateral_token") return left.address.localeCompare(right.address);
 	if (left.type === "oracle" && right.type === "oracle") return left.address.localeCompare(right.address);
 	return 0;
 }
@@ -7251,6 +7396,7 @@ function formatCursor(rule) {
 	if (rule.type === "maturity") return `maturity:${rule.chain_id}:${rule.timestamp}:${rule.name}`;
 	if (rule.type === "callback") return `callback:${rule.chain_id}:${rule.callback_type}:${rule.address.toLowerCase()}`;
 	if (rule.type === "oracle") return `oracle:${rule.chain_id}:${rule.address.toLowerCase()}`;
+	if (rule.type === "collateral_token") return `collateral_token:${rule.chain_id}:${rule.address.toLowerCase()}`;
 	return `loan_token:${rule.chain_id}:${rule.address.toLowerCase()}`;
 }
 function parseCursor(cursor) {
@@ -7283,7 +7429,7 @@ function parseCursor(cursor) {
 			address: parseAddress(addressValue, "Cursor address")
 		};
 	}
-	if (type === "loan_token" || type === "oracle") {
+	if (type === "loan_token" || type === "collateral_token" || type === "oracle") {
 		const addressValue = rest.join(":");
 		if (!addressValue) throw new BadRequestError(`Cursor must be in the format ${type}:chain_id:address`);
 		return {
@@ -7310,7 +7456,7 @@ function parseAddress(address, label) {
 	return address.toLowerCase();
 }
 function isConfigRuleType(value) {
-	return value === "maturity" || value === "callback" || value === "loan_token" || value === "oracle";
+	return value === "maturity" || value === "callback" || value === "loan_token" || value === "collateral_token" || value === "oracle";
 }
 function isMaturityType(value) {
 	return Object.values(MaturityType).includes(value);
@@ -7657,7 +7803,7 @@ function create$15(config) {
 				assets: offers.assets,
 				obligationUnits: offers.obligationUnits,
 				obligationShares: offers.obligationShares,
-				price: offers.price,
+				tick: offers.tick,
 				maturity: offers.maturity,
 				expiry: offers.expiry,
 				start: offers.start,
@@ -7677,7 +7823,7 @@ function create$15(config) {
 					assets: BigInt(row.assets),
 					obligationUnits: BigInt(row.obligationUnits),
 					obligationShares: BigInt(row.obligationShares),
-					price: BigInt(row.price),
+					tick: row.tick,
 					maturity: from$16(row.maturity),
 					expiry: row.expiry,
 					start: row.start,
@@ -7759,8 +7905,8 @@ function create$15(config) {
 			const now$2 = now();
 			const query = ({ side }) => db.selectDistinctOn([offers.obligationId], {
 				obligationId: offers.obligationId,
-				price: offers.price
-			}).from(offers).innerJoin(groups, (0, drizzle_orm.and)((0, drizzle_orm.eq)(offers.groupChainId, groups.chainId), (0, drizzle_orm.eq)(offers.groupMaker, groups.maker), (0, drizzle_orm.eq)(offers.group, groups.group))).leftJoin(validations, (0, drizzle_orm.eq)(offers.hash, validations.offerHash)).leftJoin(status, (0, drizzle_orm.eq)(validations.statusId, status.id)).where((0, drizzle_orm.and)((0, drizzle_orm.inArray)(offers.obligationId, obligationIds), (0, drizzle_orm.eq)(offers.buy, side === "buy"), (0, drizzle_orm.gte)(offers.expiry, now$2), (0, drizzle_orm.gte)(offers.maturity, now$2), (0, drizzle_orm.lte)(offers.start, now$2), drizzle_orm.sql`(${status.code} IS NULL OR ${status.code} = ${Status.VALID})`)).orderBy(offers.obligationId, side === "buy" ? drizzle_orm.sql`${offers.price}::numeric ASC` : drizzle_orm.sql`${offers.price}::numeric DESC`);
+				price: offers.tick
+			}).from(offers).innerJoin(groups, (0, drizzle_orm.and)((0, drizzle_orm.eq)(offers.groupChainId, groups.chainId), (0, drizzle_orm.eq)(offers.groupMaker, groups.maker), (0, drizzle_orm.eq)(offers.group, groups.group))).leftJoin(validations, (0, drizzle_orm.eq)(offers.hash, validations.offerHash)).leftJoin(status, (0, drizzle_orm.eq)(validations.statusId, status.id)).where((0, drizzle_orm.and)((0, drizzle_orm.inArray)(offers.obligationId, obligationIds), (0, drizzle_orm.eq)(offers.buy, side === "buy"), (0, drizzle_orm.gte)(offers.expiry, now$2), (0, drizzle_orm.gte)(offers.maturity, now$2), (0, drizzle_orm.lte)(offers.start, now$2), drizzle_orm.sql`(${status.code} IS NULL OR ${status.code} = ${Status.VALID})`)).orderBy(offers.obligationId, side === "buy" ? drizzle_orm.sql`${offers.tick} ASC` : drizzle_orm.sql`${offers.tick} DESC`);
 			const [bestBuys, bestSells] = await Promise.all([query({ side: "buy" }), query({ side: "sell" })]);
 			const quotes = /* @__PURE__ */ new Map();
 			for (const row of bestSells) quotes.set(row.obligationId, {
@@ -7876,7 +8022,7 @@ async function getOffersQuery(db, parameters) {
 		obligationUnits: offers.obligationUnits,
 		obligationShares: offers.obligationShares,
 		consumed: groups.consumed,
-		price: offers.price,
+		tick: offers.tick,
 		maturity: offers.maturity,
 		expiry: offers.expiry,
 		start: offers.start,
@@ -7914,7 +8060,7 @@ async function getOffersQuery(db, parameters) {
 			assets: BigInt(row.assets),
 			obligationUnits: BigInt(row.obligationUnits),
 			obligationShares: BigInt(row.obligationShares),
-			price: BigInt(row.price),
+			tick: row.tick,
 			maturity: from$16(row.maturity),
 			expiry: row.expiry,
 			start: row.start,
@@ -8313,7 +8459,7 @@ async function getOffers(apiClient, parameters) {
 				assets: offerData.assets,
 				obligation_units: offerData.obligation_units,
 				obligation_shares: offerData.obligation_shares,
-				price: offerData.price,
+				tick: offerData.tick,
 				maturity: from$16(offerData.obligation.maturity),
 				expiry: offerData.expiry,
 				start: offerData.start,
@@ -8672,6 +8818,7 @@ function create$12(config) {
 	return {
 		get: async (parameters) => {
 			const { side, obligationId, cursor: cursorString, limit = DEFAULT_LIMIT$2 } = parameters;
+			const tickSortDirection = side === "sell" ? "asc" : "desc";
 			const inputCursor = LevelCursor.decode(cursorString, logger);
 			if (cursorString != null && inputCursor === null) return {
 				levels: [],
@@ -8686,23 +8833,23 @@ function create$12(config) {
 				cursor: inputCursor?.offersCursor ?? void 0,
 				limit: fetchLimit
 			});
-			const priceMap = /* @__PURE__ */ new Map();
+			const tickMap = /* @__PURE__ */ new Map();
 			for (const row of rows) {
-				const priceKey = row.price.toString();
-				const existing = priceMap.get(priceKey);
+				const existing = tickMap.get(row.tick);
 				if (existing) {
 					existing.assets += row.takeable;
 					existing.count += 1;
-				} else priceMap.set(priceKey, {
+				} else tickMap.set(row.tick, {
 					assets: row.takeable,
 					count: 1
 				});
 			}
-			const levels = Array.from(priceMap.entries()).map(([price, data]) => ({
-				price: BigInt(price),
-				assets: data.assets,
-				count: data.count
+			const levels = Array.from(tickMap.entries()).map(([tick, level]) => ({
+				tick,
+				assets: level.assets,
+				count: level.count
 			}));
+			levels.sort((a, b) => tickSortDirection === "asc" ? a.tick - b.tick : b.tick - a.tick);
 			const paginatedLevels = levels.slice(0, limit);
 			const hasMore = levels.length > limit || offersNextCursor !== null;
 			const lastLevel = paginatedLevels[paginatedLevels.length - 1];
@@ -8748,14 +8895,14 @@ async function _getOffers(db, params) {
         AND (s.code IS NULL OR s.code = ${Status.VALID})
       ORDER BY
         o.group_chain_id, o.group_maker, o."group_group",
-        o.price::numeric ${priceSortDirection === "asc" ? drizzle_orm.sql`ASC` : drizzle_orm.sql`DESC`}, o.block_number ASC, o.assets DESC, o.hash ASC
+        o.tick ${priceSortDirection === "asc" ? drizzle_orm.sql`ASC` : drizzle_orm.sql`DESC`}, o.block_number ASC, o.assets DESC, o.hash ASC
     ),
     enriched AS (
       SELECT
         w.*,
         g.consumed, g.chain_id, obl.loan_token,
         CASE WHEN ${priceSortDirection === "asc" ? drizzle_orm.sql`TRUE` : drizzle_orm.sql`FALSE`}
-          THEN w.price::numeric ELSE -w.price::numeric END AS price_norm,
+          THEN w.tick ELSE -w.tick END AS tick_norm,
         w.block_number AS block_norm,
         -w.assets AS assets_norm,
         w.hash AS hash_norm
@@ -8772,33 +8919,35 @@ async function _getOffers(db, params) {
       FROM enriched e
       ${cursor != null ? drizzle_orm.sql`
         WHERE
-        (e.price_norm, e.block_norm, e.assets_norm, e.hash_norm)
+        (e.tick_norm, e.block_norm, e.assets_norm, e.hash_norm)
           > (
               CASE WHEN ${priceSortDirection === "asc" ? drizzle_orm.sql`TRUE` : drizzle_orm.sql`FALSE`}
-                THEN ${cursor.price}::numeric ELSE -${cursor.price}::numeric END,
+                THEN ${cursor.tick}::integer ELSE -${cursor.tick}::integer END,
               ${cursor.blockNumber},
               -${cursor.assets}::numeric,
               ${cursor.hash}
             )` : drizzle_orm.sql``}
-      ORDER BY e.price::numeric ${priceSortDirection === "asc" ? drizzle_orm.sql`ASC` : drizzle_orm.sql`DESC`}, e.block_number ASC, e.assets DESC, e.hash ASC
+      ORDER BY e.tick ${priceSortDirection === "asc" ? drizzle_orm.sql`ASC` : drizzle_orm.sql`DESC`}, e.block_number ASC, e.assets DESC, e.hash ASC
       LIMIT ${limit}
     ),
-    -- Compute sum of offsets per position
+    -- Compute sum of offsets per position and obligation
     position_offsets AS (
       SELECT
         chain_id,
         "user",
         contract,
+        obligation_id,
         SUM(value::numeric) AS total_offset
       FROM ${offsets}
-      GROUP BY chain_id, "user", contract
+      GROUP BY chain_id, "user", contract, obligation_id
     ),
-    -- Compute position_consumed: sum of consumed from all groups with lots on each position (converted to lot terms)
+    -- Compute position_consumed: sum of consumed from all groups with lots on each position+obligation (converted to lot terms)
     position_consumed AS (
       SELECT
         l.chain_id,
         l.contract,
         l."user",
+        l.obligation_id,
         SUM(
           CASE
             WHEN wo.assets::numeric > 0
@@ -8815,7 +8964,7 @@ async function _getOffers(db, params) {
         ON wo.group_chain_id = g.chain_id
         AND LOWER(wo.group_maker) = LOWER(g.maker)
         AND wo.group_group = g."group"
-      GROUP BY l.chain_id, l.contract, l."user"
+      GROUP BY l.chain_id, l.contract, l."user", l.obligation_id
     ),
     -- Compute callback contributions with lot balance
     callback_contributions AS (
@@ -8823,7 +8972,7 @@ async function _getOffers(db, params) {
         p.hash,
         p.obligation_id,
         p.assets,
-        p.price,
+        p.tick,
         p.obligation_units,
         p.obligation_shares,
         p.maturity,
@@ -8868,6 +9017,7 @@ async function _getOffers(db, params) {
         AND LOWER(l.contract) = LOWER(c.position_contract)
         AND LOWER(l."user") = LOWER(c.position_user)
         AND l."group" = p.group_group
+        AND l.obligation_id = p.obligation_id
       LEFT JOIN ${positions} pos
         ON pos.chain_id = c.position_chain_id
         AND LOWER(pos.contract) = LOWER(c.position_contract)
@@ -8876,10 +9026,12 @@ async function _getOffers(db, params) {
         ON pos_offsets.chain_id = c.position_chain_id
         AND LOWER(pos_offsets.contract) = LOWER(c.position_contract)
         AND LOWER(pos_offsets."user") = LOWER(c.position_user)
+        AND pos_offsets.obligation_id = p.obligation_id
       LEFT JOIN position_consumed pc
         ON pc.chain_id = c.position_chain_id
         AND LOWER(pc.contract) = LOWER(c.position_contract)
         AND LOWER(pc."user") = LOWER(c.position_user)
+        AND pc.obligation_id = p.obligation_id
     ),
     -- Compute contribution per callback in loan terms (loan token only — collateral positions are not indexed)
     callback_loan_contribution AS (
@@ -8897,7 +9049,7 @@ async function _getOffers(db, params) {
         hash,
         obligation_id,
         assets,
-        price,
+        tick,
         obligation_units,
         obligation_shares,
         maturity,
@@ -8923,13 +9075,13 @@ async function _getOffers(db, params) {
         WHERE clc.callback_id IS NOT NULL
         ORDER BY clc.hash, clc.position_chain_id, clc.position_contract, clc.position_user, clc.contribution_in_loan DESC
       ) deduped
-      GROUP BY hash, obligation_id, assets, price, obligation_units, obligation_shares, maturity, expiry, start, group_group, buy,
+      GROUP BY hash, obligation_id, assets, tick, obligation_units, obligation_shares, maturity, expiry, start, group_group, buy,
                callback_address, callback_data, block_number, group_chain_id, group_maker,
                consumed, chain_id, loan_token, session
       UNION ALL
       -- Sell offers without callbacks: collateral positions not indexed, takeable = assets - consumed
       SELECT
-        p.hash, p.obligation_id, p.assets, p.price,
+        p.hash, p.obligation_id, p.assets, p.tick,
         p.obligation_units, p.obligation_shares,
         p.maturity, p.expiry, p.start, p.group_group,
         p.buy, p.callback_address, p.callback_data,
@@ -8951,7 +9103,7 @@ async function _getOffers(db, params) {
       oc.obligation_units,
       oc.obligation_shares,
       oc.consumed,
-      oc.price,
+      oc.tick,
       oc.maturity,
       oc.expiry,
       oc.start,
@@ -8983,7 +9135,7 @@ async function _getOffers(db, params) {
       ))
     END > 0
     ORDER BY
-      oc.price::numeric ${priceSortDirection === "asc" ? drizzle_orm.sql`ASC` : drizzle_orm.sql`DESC`},
+      oc.tick ${priceSortDirection === "asc" ? drizzle_orm.sql`ASC` : drizzle_orm.sql`DESC`},
       oc.block_number ASC,
       oc.assets DESC,
       oc.hash ASC;
@@ -8996,7 +9148,7 @@ async function _getOffers(db, params) {
 				assets: BigInt(row.assets),
 				obligationUnits: BigInt(row.obligation_units ?? 0),
 				obligationShares: BigInt(row.obligation_shares ?? 0),
-				price: BigInt(row.price),
+				tick: row.tick,
 				maturity: row.maturity,
 				expiry: row.expiry,
 				start: row.start,
@@ -9028,7 +9180,7 @@ let Cursor;
 	function encode(row, totalReturned, now, side) {
 		return Buffer.from(JSON.stringify({
 			side,
-			price: row.price.toString(),
+			tick: row.tick,
 			blockNumber: row.blockNumber,
 			assets: row.assets.toString(),
 			hash: row.hash,
@@ -9039,10 +9191,9 @@ let Cursor;
 	_Cursor.encode = encode;
 	function decode(cursorString, logger) {
 		if (cursorString == null) return null;
-		const isNumericString = (value) => typeof value === "string" && /^-?\d+$/.test(value);
 		try {
 			const v = JSON.parse(Buffer.from(cursorString, "base64url").toString("utf8"));
-			if ((v?.side === "buy" || v?.side === "sell") && isNumericString(v?.price) && typeof v?.blockNumber === "number" && Number.isInteger(v.blockNumber) && isNumericString(v?.assets) && (0, viem.isHex)(v?.hash) && typeof v?.totalReturned === "number" && Number.isInteger(v.totalReturned) && typeof v?.now === "number" && Number.isInteger(v.now)) return v;
+			if ((v?.side === "buy" || v?.side === "sell") && typeof v?.tick === "number" && Number.isInteger(v.tick) && typeof v?.blockNumber === "number" && Number.isInteger(v.blockNumber) && typeof v?.assets === "string" && /^-?\d+$/.test(v.assets) && (0, viem.isHex)(v?.hash) && typeof v?.totalReturned === "number" && Number.isInteger(v.totalReturned) && typeof v?.now === "number" && Number.isInteger(v.now)) return v;
 			throw new Error("Invalid cursor");
 		} catch {
 			logger.error({
@@ -9060,7 +9211,7 @@ let LevelCursor;
 	function encode(lastLevel, offersCursor, side, now) {
 		return Buffer.from(JSON.stringify({
 			side,
-			lastPrice: lastLevel.price.toString(),
+			lastTick: lastLevel.tick,
 			now,
 			offersCursor
 		})).toString("base64url");
@@ -9068,10 +9219,9 @@ let LevelCursor;
 	_LevelCursor.encode = encode;
 	function decode(cursorString, logger) {
 		if (cursorString == null) return null;
-		const isNumericString = (value) => typeof value === "string" && /^-?\d+$/.test(value);
 		try {
 			const v = JSON.parse(Buffer.from(cursorString, "base64url").toString("utf8"));
-			if ((v?.side === "buy" || v?.side === "sell") && isNumericString(v?.lastPrice) && typeof v?.now === "number" && Number.isInteger(v.now) && (v?.offersCursor === null || typeof v?.offersCursor === "string")) return v;
+			if ((v?.side === "buy" || v?.side === "sell") && typeof v?.lastTick === "number" && Number.isInteger(v.lastTick) && typeof v?.now === "number" && Number.isInteger(v.now) && (v?.offersCursor === null || typeof v?.offersCursor === "string")) return v;
 			throw new Error("Invalid book cursor");
 		} catch {
 			logger.error({
@@ -9214,31 +9364,33 @@ function create$9(db) {
 function create$8(db) {
 	return {
 		get: async (parameters) => {
-			const { chainId, user, contract, group } = parameters ?? {};
+			const { chainId, user, contract, group, obligationId } = parameters ?? {};
 			const conditions = [];
 			if (chainId !== void 0) conditions.push((0, drizzle_orm.eq)(lots.chainId, chainId));
 			if (user !== void 0) conditions.push((0, drizzle_orm.eq)(lots.user, user.toLowerCase()));
 			if (contract !== void 0) conditions.push((0, drizzle_orm.eq)(lots.contract, contract.toLowerCase()));
 			if (group !== void 0) conditions.push((0, drizzle_orm.eq)(lots.group, group));
+			if (obligationId !== void 0) conditions.push((0, drizzle_orm.eq)(lots.obligationId, obligationId));
 			return (await db.select().from(lots).where(conditions.length > 0 ? (0, drizzle_orm.and)(...conditions) : void 0)).map((row) => ({
 				chainId: row.chainId,
 				user: row.user,
 				contract: row.contract,
 				group: row.group,
+				obligationId: row.obligationId,
 				lower: BigInt(row.lower),
 				upper: BigInt(row.upper)
 			}));
 		},
 		create: async (parameters) => {
 			if (parameters.length === 0) return;
-			const lotsByPositionGroup = /* @__PURE__ */ new Map();
+			const lotsByKey = /* @__PURE__ */ new Map();
 			for (const offer of parameters) {
-				const key = `${offer.positionChainId}-${offer.positionContract}-${offer.positionUser}-${offer.group}`.toLowerCase();
-				const existing = lotsByPositionGroup.get(key);
-				if (!existing || offer.size > existing.size) lotsByPositionGroup.set(key, offer);
+				const key = `${offer.positionChainId}-${offer.positionContract}-${offer.positionUser}-${offer.group}-${offer.obligationId}`.toLowerCase();
+				const existing = lotsByKey.get(key);
+				if (!existing || offer.size > existing.size) lotsByKey.set(key, offer);
 			}
-			for (const offer of lotsByPositionGroup.values()) if ((await db.select().from(lots).where((0, drizzle_orm.and)((0, drizzle_orm.eq)(lots.chainId, offer.positionChainId), (0, drizzle_orm.eq)(lots.contract, offer.positionContract.toLowerCase()), (0, drizzle_orm.eq)(lots.user, offer.positionUser.toLowerCase()), (0, drizzle_orm.eq)(lots.group, offer.group.toLowerCase()))).limit(1)).length === 0) {
-				const maxUpperResult = await db.select({ maxUpper: drizzle_orm.sql`COALESCE(MAX(${lots.upper}::numeric), 0)` }).from(lots).where((0, drizzle_orm.and)((0, drizzle_orm.eq)(lots.chainId, offer.positionChainId), (0, drizzle_orm.eq)(lots.contract, offer.positionContract.toLowerCase()), (0, drizzle_orm.eq)(lots.user, offer.positionUser.toLowerCase())));
+			for (const offer of lotsByKey.values()) if ((await db.select().from(lots).where((0, drizzle_orm.and)((0, drizzle_orm.eq)(lots.chainId, offer.positionChainId), (0, drizzle_orm.eq)(lots.contract, offer.positionContract.toLowerCase()), (0, drizzle_orm.eq)(lots.user, offer.positionUser.toLowerCase()), (0, drizzle_orm.eq)(lots.group, offer.group.toLowerCase()), (0, drizzle_orm.eq)(lots.obligationId, offer.obligationId.toLowerCase()))).limit(1)).length === 0) {
+				const maxUpperResult = await db.select({ maxUpper: drizzle_orm.sql`COALESCE(MAX(${lots.upper}::numeric), 0)` }).from(lots).where((0, drizzle_orm.and)((0, drizzle_orm.eq)(lots.chainId, offer.positionChainId), (0, drizzle_orm.eq)(lots.contract, offer.positionContract.toLowerCase()), (0, drizzle_orm.eq)(lots.user, offer.positionUser.toLowerCase()), (0, drizzle_orm.eq)(lots.obligationId, offer.obligationId.toLowerCase())));
 				const newLower = BigInt(maxUpperResult[0]?.maxUpper ?? "0");
 				const newUpper = newLower + offer.size;
 				await db.insert(lots).values({
@@ -9246,6 +9398,7 @@ function create$8(db) {
 					user: offer.positionUser.toLowerCase(),
 					contract: offer.positionContract.toLowerCase(),
 					group: offer.group.toLowerCase(),
+					obligationId: offer.obligationId.toLowerCase(),
 					lower: newLower.toString(),
 					upper: newUpper.toString()
 				});
@@ -9300,17 +9453,19 @@ function create$7(db) {
 //#region src/database/domains/Offsets.ts
 function create$6(db) {
 	return { get: async (parameters) => {
-		const { chainId, user, contract, group } = parameters ?? {};
+		const { chainId, user, contract, group, obligationId } = parameters ?? {};
 		const conditions = [];
 		if (chainId !== void 0) conditions.push((0, drizzle_orm.eq)(offsets.chainId, chainId));
 		if (user !== void 0) conditions.push((0, drizzle_orm.eq)(offsets.user, user.toLowerCase()));
 		if (contract !== void 0) conditions.push((0, drizzle_orm.eq)(offsets.contract, contract.toLowerCase()));
 		if (group !== void 0) conditions.push((0, drizzle_orm.eq)(offsets.group, group));
+		if (obligationId !== void 0) conditions.push((0, drizzle_orm.eq)(offsets.obligationId, obligationId));
 		return (await db.select().from(offsets).where(conditions.length > 0 ? (0, drizzle_orm.and)(...conditions) : void 0)).map((row) => ({
 			chainId: row.chainId,
 			user: row.user,
 			contract: row.contract,
 			group: row.group,
+			obligationId: row.obligationId,
 			value: BigInt(row.value)
 		}));
 	} };
@@ -9460,7 +9615,8 @@ const create$4 = (db) => {
 				if (!parsed.chainId || !parsed.contract) throw new Error("Invalid cursor format");
 				cursor = {
 					chainId: parsed.chainId,
-					contract: parsed.contract
+					contract: parsed.contract,
+					obligationId: parsed.obligationId ?? null
 				};
 			}
 			const raw = await db.execute(drizzle_orm.sql`
@@ -9469,16 +9625,18 @@ const create$4 = (db) => {
             chain_id,
             "user",
             contract,
+            obligation_id,
             SUM(value::numeric) AS total_offset
           FROM ${offsets}
           WHERE LOWER("user") = LOWER(${user})
-          GROUP BY chain_id, "user", contract
+          GROUP BY chain_id, "user", contract, obligation_id
         ),
         position_consumed AS (
           SELECT
             l.chain_id,
             l.contract,
             l."user",
+            l.obligation_id,
             SUM(
               CASE
                 WHEN offer_agg.assets > 0
@@ -9504,50 +9662,64 @@ const create$4 = (db) => {
             AND LOWER(offer_agg.group_maker) = LOWER(g.maker)
             AND offer_agg."group_group" = g."group"
           WHERE LOWER(l."user") = LOWER(${user})
-          GROUP BY l.chain_id, l.contract, l."user"
+          GROUP BY l.chain_id, l.contract, l."user", l.obligation_id
         ),
         position_max_lot AS (
           SELECT
             chain_id,
             contract,
             "user",
+            obligation_id,
             MAX(upper::numeric) AS max_upper
           FROM ${lots}
           WHERE LOWER("user") = LOWER(${user})
-          GROUP BY chain_id, contract, "user"
+          GROUP BY chain_id, contract, "user", obligation_id
+        ),
+        per_obligation AS (
+          SELECT
+            pml.chain_id,
+            pml.contract,
+            pml."user",
+            pml.obligation_id,
+            GREATEST(0,
+              COALESCE(pml.max_upper, 0)
+              - COALESCE(po.total_offset, 0)
+              - COALESCE(pc.consumed, 0)
+            )::text AS reserved_balance
+          FROM position_max_lot pml
+          LEFT JOIN position_offsets po
+            ON po.chain_id = pml.chain_id
+            AND LOWER(po.contract) = LOWER(pml.contract)
+            AND LOWER(po."user") = LOWER(pml."user")
+            AND po.obligation_id = pml.obligation_id
+          LEFT JOIN position_consumed pc
+            ON pc.chain_id = pml.chain_id
+            AND LOWER(pc.contract) = LOWER(pml.contract)
+            AND LOWER(pc."user") = LOWER(pml."user")
+            AND pc.obligation_id = pml.obligation_id
         )
         SELECT
           p.chain_id,
           p.contract,
           p."user",
           p.block_number,
-          GREATEST(0,
-            COALESCE(pml.max_upper, 0)
-            - COALESCE(po.total_offset, 0)
-            - COALESCE(pc.consumed, 0)
-          )::text AS reserved_balance
+          po.obligation_id,
+          COALESCE(po.reserved_balance, '0') AS reserved_balance
         FROM ${positions} p
-        LEFT JOIN position_offsets po
+        LEFT JOIN per_obligation po
           ON po.chain_id = p.chain_id
           AND LOWER(po.contract) = LOWER(p.contract)
           AND LOWER(po."user") = LOWER(p."user")
-        LEFT JOIN position_consumed pc
-          ON pc.chain_id = p.chain_id
-          AND LOWER(pc.contract) = LOWER(p.contract)
-          AND LOWER(pc."user") = LOWER(p."user")
-        LEFT JOIN position_max_lot pml
-          ON pml.chain_id = p.chain_id
-          AND LOWER(pml.contract) = LOWER(p.contract)
-          AND LOWER(pml."user") = LOWER(p."user")
         WHERE LOWER(p."user") = LOWER(${user})
           AND p."user" != ${viem.zeroAddress}
-          ${cursor !== null ? drizzle_orm.sql`AND (p.chain_id, p.contract) > (${cursor.chainId}, ${cursor.contract})` : drizzle_orm.sql``}
-        ORDER BY p.chain_id ASC, p.contract ASC
+          ${cursor !== null ? drizzle_orm.sql`AND (p.chain_id, p.contract, COALESCE(po.obligation_id, '')) > (${cursor.chainId}, ${cursor.contract}, ${cursor.obligationId ?? ""})` : drizzle_orm.sql``}
+        ORDER BY p.chain_id ASC, p.contract ASC, po.obligation_id ASC NULLS FIRST
         LIMIT ${limit}
       `);
 			const nextCursor = raw.rows.length === limit ? Buffer.from(JSON.stringify({
 				chainId: raw.rows[raw.rows.length - 1].chain_id.toString(),
-				contract: raw.rows[raw.rows.length - 1].contract
+				contract: raw.rows[raw.rows.length - 1].contract,
+				obligationId: raw.rows[raw.rows.length - 1].obligation_id
 			})).toString("base64url") : null;
 			return {
 				positions: raw.rows.map((row) => ({
@@ -9555,6 +9727,7 @@ const create$4 = (db) => {
 					contract: row.contract,
 					user: row.user,
 					blockNumber: row.block_number,
+					obligationId: row.obligation_id,
 					reserved: BigInt(row.reserved_balance.split(".")[0] ?? "0")
 				})),
 				nextCursor
@@ -9833,7 +10006,10 @@ function create$1(db) {
 
 //#endregion
 //#region src/database/Database.ts
-var Database_exports = /* @__PURE__ */ __exportAll({ connect: () => connect$1 });
+var Database_exports = /* @__PURE__ */ __exportAll({
+	connect: () => connect$1,
+	getSchemaNamesForMigration: () => getSchemaNamesForMigration
+});
 function createDomains(core, chainRegistry) {
 	return {
 		book: create$12({ db: core }),
@@ -9930,6 +10106,7 @@ function augmentWithDomains(base, chainRegistry) {
 	return wrapped;
 }
 const InMemoryDbMap = /* @__PURE__ */ new Map();
+const LEGACY_SCHEMA_START_MINOR = 7;
 /**
 * Connect to the database.
 * @notice If no connection string is provided, an in-process PGLite database is created.
@@ -9984,9 +10161,26 @@ function applyMigrations(kind, driver) {
 async function preMigrate(driver) {
 	const tracer = getTracer("db.preMigrate");
 	await startActiveSpan(tracer, "db.preMigrate", async () => {
-		await driver.execute(`create schema if not exists "${VERSION}"`);
+		const schemaNames = getSchemaNamesForMigration(VERSION);
+		for (const schemaName of schemaNames) await driver.execute(`create schema if not exists "${schemaName}"`);
 	});
 }
+/**
+* Build the list of router schemas that should exist before running migrations.
+* @param version - Current schema version (e.g. `router_v1.8`).
+* @returns Ordered schema names from `router_v1.7` to current, or just current if parsing fails.
+*/
+function getSchemaNamesForMigration(version) {
+	const parsed = /^router_v(?<major>\d+)\.(?<minor>\d+)$/.exec(version);
+	if (!parsed?.groups?.major || !parsed.groups.minor) return [version];
+	const major = Number.parseInt(parsed.groups.major, 10);
+	const currentMinor = Number.parseInt(parsed.groups.minor, 10);
+	if (!Number.isInteger(major) || !Number.isInteger(currentMinor)) return [version];
+	if (currentMinor < LEGACY_SCHEMA_START_MINOR) return [version];
+	const schemaNames = [];
+	for (let minor = LEGACY_SCHEMA_START_MINOR; minor <= currentMinor; minor += 1) schemaNames.push(`router_v${major}.${minor}`);
+	return schemaNames;
+}
 async function postMigrate(driver) {
 	const tracer = getTracer("db.postMigrate");
 	await startActiveSpan(tracer, "db.postMigrate", async () => {
@@ -10256,15 +10450,16 @@ async function postMigrate(driver) {
     RETURNS trigger
     LANGUAGE plpgsql AS $$
     BEGIN
-      INSERT INTO "${VERSION}"."offsets" (chain_id, "user", contract, "group", value)
+      INSERT INTO "${VERSION}"."offsets" (chain_id, "user", contract, "group", obligation_id, value)
       VALUES (
         OLD.chain_id,
         OLD."user",
         OLD.contract,
         OLD."group",
+        OLD.obligation_id,
         OLD.upper::numeric - OLD.lower::numeric
       )
-      ON CONFLICT (chain_id, "user", contract, "group") DO NOTHING;
+      ON CONFLICT (chain_id, "user", contract, "group", obligation_id) DO NOTHING;
       RETURN OLD;
     END;
     $$;
@@ -10518,10 +10713,11 @@ var Rules_exports = /* @__PURE__ */ __exportAll({
 	amountMutualExclusivity: () => amountMutualExclusivity,
 	callback: () => callback,
 	chains: () => chains,
+	collateralToken: () => collateralToken,
+	loanToken: () => loanToken,
 	maturity: () => maturity,
 	oracle: () => oracle,
 	sameMaker: () => sameMaker,
-	token: () => token,
 	validity: () => validity
 });
 /**
@@ -10549,15 +10745,25 @@ const callback = ({ callbacks }) => single("callback", `Validates callbacks: buy
 	if (isEmptyCallback(offer) && !offer.buy && !callbacks.includes(Type$1.SellWithEmptyCallback)) return { message: "Sell offers with empty callback not allowed." };
 });
 /**
-* A validation rule that checks if the offer's tokens are allowed for its chain.
-* @param assetsByChainId - Allowed assets indexed by chain id.
+* A validation rule that checks if the offer's loan token is allowed for its chain.
+* @param assetsByChainId - Allowed loan tokens indexed by chain id.
 * @returns The issue that was found. If the offer is valid, this will be undefined.
 */
-const token = ({ assetsByChainId }) => single("token", "Validates that offer loan token and collateral tokens are in the allowed assets list for the offer chain", (offer) => {
-	const allowedAssets = assetsByChainId[offer.chainId]?.map((asset) => asset.toLowerCase());
-	if (!allowedAssets || allowedAssets.length === 0) return { message: `No allowed assets for chain ${offer.chainId}` };
-	if (!allowedAssets.includes(offer.loanToken.toLowerCase())) return { message: "Loan token is not allowed" };
-	if (offer.collaterals.some((collateral) => !allowedAssets.includes(collateral.asset.toLowerCase()))) return { message: "Collateral is not allowed" };
+const loanToken = ({ assetsByChainId }) => single("loan_token", "Validates that offer loan token is in the allowed token list for the offer chain", (offer) => {
+	const allowedLoanTokens = assetsByChainId[offer.chainId]?.map((asset) => asset.toLowerCase());
+	if (!allowedLoanTokens || allowedLoanTokens.length === 0) return { message: `No allowed loan tokens for chain ${offer.chainId}` };
+	if (!allowedLoanTokens.includes(offer.loanToken.toLowerCase())) return { message: "Loan token is not allowed" };
+});
+/**
+* A validation rule that checks if the offer's collateral tokens are allowed for its chain.
+* @param collateralAssetsByChainId - Allowed collateral tokens indexed by chain id.
+* @returns The issue that was found. If the offer is valid, this will be undefined.
+*/
+const collateralToken = ({ collateralAssetsByChainId }) => single("collateral_token", "Validates that offer collateral tokens are in the allowed token list for the offer chain", (offer) => {
+	const allowedCollateralTokens = collateralAssetsByChainId[offer.chainId]?.map((asset) => asset.toLowerCase()) ?? [];
+	if (allowedCollateralTokens.length === 0) return { message: `No allowed collateral tokens for chain ${offer.chainId}` };
+	if (offer.collaterals.length === 0) return { message: "At least one collateral token is required" };
+	if (offer.collaterals.some((collateral) => !allowedCollateralTokens.includes(collateral.asset.toLowerCase()))) return { message: "Collateral token is not allowed" };
 });
 /**
 * A validation rule that checks if the offer's oracle addresses are allowed for its chain.
@@ -10600,9 +10806,11 @@ const amountMutualExclusivity = () => single("amount_mutual_exclusivity", "Valid
 //#region src/gatekeeper/morphoRules.ts
 const morphoRules = (chains$3) => {
 	const assetsByChainId = {};
+	const collateralAssetsByChainId = {};
 	const oraclesByChainId = {};
 	for (const chain of chains$3) {
 		assetsByChainId[chain.id] = assets[chain.id.toString()] ?? [];
+		collateralAssetsByChainId[chain.id] = collateralAssets[chain.id.toString()] ?? [];
 		oraclesByChainId[chain.id] = oracles[chain.id.toString()] ?? [];
 	}
 	return [
@@ -10614,7 +10822,8 @@ const morphoRules = (chains$3) => {
 			callbacks: [Type$1.BuyWithEmptyCallback, Type$1.SellWithEmptyCallback],
 			allowedAddresses: []
 		}),
-		token({ assetsByChainId }),
+		loanToken({ assetsByChainId }),
+		collateralToken({ collateralAssetsByChainId }),
 		oracle({ oraclesByChainId })
 	];
 };
@@ -11026,6 +11235,12 @@ Object.defineProperty(exports, 'Rules', {
     return Rules_exports;
   }
 });
+Object.defineProperty(exports, 'Tick', {
+  enumerable: true,
+  get: function () {
+    return Tick_exports;
+  }
+});
 Object.defineProperty(exports, 'Time', {
   enumerable: true,
   get: function () {