@morpho-org/blue-sdk 1.0.0-integ-650.0

package/lib/market/Market.js

@@ -0,0 +1,460 @@
+"use strict";
+Object.defineProperty(exports, "__esModule", { value: true });
+exports.Market = exports.CapacityLimitReason = void 0;
+const errors_1 = require("../errors");
+const maths_1 = require("../maths");
+const MarketUtils_1 = require("./MarketUtils");
+var CapacityLimitReason;
+(function (CapacityLimitReason) {
+    CapacityLimitReason["liquidity"] = "Liquidity";
+    CapacityLimitReason["balance"] = "Balance";
+    CapacityLimitReason["position"] = "Position";
+    CapacityLimitReason["collateral"] = "Collateral";
+    CapacityLimitReason["cap"] = "Cap";
+})(CapacityLimitReason || (exports.CapacityLimitReason = CapacityLimitReason = {}));
+/**
+ * Represents a lending market on Morpho Blue.
+ */
+class Market {
+    /**
+     * The market's config.
+     */
+    config;
+    /**
+     * The amount of loan assets supplied in total on the market.
+     */
+    totalSupplyAssets;
+    /**
+     * The amount of loan assets supplied in total on the market.
+     */
+    totalBorrowAssets;
+    /**
+     * The amount of loan assets supplied in total on the market.
+     */
+    totalSupplyShares;
+    /**
+     * The amount of loan assets supplied in total on the market.
+     */
+    totalBorrowShares;
+    /**
+     * The block timestamp (in __seconds__) when the interest was last accrued.
+     */
+    lastUpdate;
+    /**
+     * The fee percentage of the market, scaled by WAD.
+     */
+    fee;
+    /**
+     * The price as returned by the market's oracle.
+     */
+    price;
+    /**
+     * If the market uses the Adaptive Curve IRM, the rate at target utilization.
+     * Undefined otherwise.
+     */
+    rateAtTarget;
+    constructor({ config, totalSupplyAssets, totalBorrowAssets, totalSupplyShares, totalBorrowShares, lastUpdate, fee, price, rateAtTarget, }) {
+        this.config = config;
+        this.totalSupplyAssets = totalSupplyAssets;
+        this.totalBorrowAssets = totalBorrowAssets;
+        this.totalSupplyShares = totalSupplyShares;
+        this.totalBorrowShares = totalBorrowShares;
+        this.lastUpdate = lastUpdate;
+        this.fee = fee;
+        this.price = price;
+        if (rateAtTarget != null)
+            this.rateAtTarget = rateAtTarget;
+    }
+    /**
+     * The market's hex-encoded id, defined as the hash of the market params.
+     */
+    get id() {
+        return this.config.id;
+    }
+    /**
+     * Whether the market satisfies the canonical definition of an idle market (i.e. collateral token is the zero address).
+     */
+    get isIdle() {
+        return (this.config.collateralToken ===
+            "0x0000000000000000000000000000000000000000");
+    }
+    /**
+     * @warning Cannot be used to calculate the liquidity available inside a callback,
+     * because the balance of Blue may be lower than the market's liquidity due to assets being transferred out prior to the callback.
+     */
+    get liquidity() {
+        return this.totalSupplyAssets - this.totalBorrowAssets;
+    }
+    /**
+     * The market's utilization rate (scaled by WAD).
+     */
+    get utilization() {
+        return MarketUtils_1.MarketUtils.getUtilization(this);
+    }
+    /**
+     * The market's Annual Percentage Yield (APY) at the IRM's target utilization rate, if applicable (scaled by WAD).
+     */
+    get apyAtTarget() {
+        if (this.rateAtTarget == null)
+            return;
+        return MarketUtils_1.MarketUtils.getApy(this.rateAtTarget);
+    }
+    /**
+     * Returns the rate at which interest accrued on average for suppliers of this market,
+     * since the last time the market was updated (scaled by WAD).
+     */
+    get supplyRate() {
+        return MarketUtils_1.MarketUtils.getSupplyRate(this.borrowRate, this);
+    }
+    /**
+     * Returns the rate at which interest accrued on average for borrowers of this market,
+     * since the last time the market was updated (scaled by WAD).
+     */
+    get borrowRate() {
+        if (this.rateAtTarget == null)
+            return 0n;
+        return maths_1.AdaptiveCurveIrmLib.getBorrowRate(this.utilization, this.rateAtTarget, 0n).avgBorrowRate;
+    }
+    /**
+     * The market's supply Annual Percentage Yield (APY) (scaled by WAD).
+     */
+    get supplyApy() {
+        return MarketUtils_1.MarketUtils.getApy(this.supplyRate);
+    }
+    /**
+     * The market's borrow Annual Percentage Yield (APY) (scaled by WAD).
+     */
+    get borrowApy() {
+        return MarketUtils_1.MarketUtils.getApy(this.borrowRate);
+    }
+    /**
+     * Returns a new market derived from this market, whose interest has been accrued up to the given timestamp.
+     * @param timestamp The timestamp at which to accrue interest. Must be greater than or equal to `lastUpdate`. Defaults to `lastUpdate` (returns a copy of the market).
+     */
+    accrueInterest(timestamp = this.lastUpdate) {
+        timestamp = BigInt(timestamp);
+        const elapsed = timestamp - this.lastUpdate;
+        if (elapsed < 0n)
+            throw new errors_1.BlueErrors.InvalidInterestAccrual(this.id, timestamp, this.lastUpdate);
+        if (elapsed === 0n)
+            return new Market(this);
+        let borrowRate = 0n;
+        let { rateAtTarget } = this;
+        if (rateAtTarget != null) {
+            const { avgBorrowRate, endRateAtTarget } = maths_1.AdaptiveCurveIrmLib.getBorrowRate(this.utilization, rateAtTarget, elapsed);
+            borrowRate = avgBorrowRate;
+            rateAtTarget = endRateAtTarget;
+        }
+        const { interest, feeShares } = MarketUtils_1.MarketUtils.getAccruedInterest(borrowRate, this, elapsed);
+        return new Market({
+            ...this,
+            totalSupplyAssets: this.totalSupplyAssets + interest,
+            totalBorrowAssets: this.totalBorrowAssets + interest,
+            totalSupplyShares: this.totalSupplyShares + feeShares,
+            lastUpdate: timestamp,
+            rateAtTarget,
+        });
+    }
+    supply(assets, shares, timestamp) {
+        if (assets === 0n && shares === 0n)
+            throw new errors_1.BlueErrors.InconsistentInput();
+        const market = this.accrueInterest(timestamp);
+        if (shares === 0n)
+            shares = market.toSupplyShares(assets, "Down");
+        else
+            assets = market.toSupplyAssets(shares, "Up");
+        market.totalSupplyAssets += assets;
+        market.totalSupplyShares += shares;
+        return { market, assets, shares };
+    }
+    withdraw(assets, shares, timestamp) {
+        if (assets === 0n && shares === 0n)
+            throw new errors_1.BlueErrors.InconsistentInput();
+        const market = this.accrueInterest(timestamp);
+        if (shares === 0n)
+            shares = market.toSupplyShares(assets, "Up");
+        else
+            assets = market.toSupplyAssets(shares, "Down");
+        market.totalSupplyAssets -= assets;
+        market.totalSupplyShares -= shares;
+        if (market.totalBorrowAssets > market.totalSupplyAssets)
+            throw new errors_1.BlueErrors.InsufficientLiquidity(market.id);
+        return { market, assets, shares };
+    }
+    borrow(assets, shares, timestamp) {
+        if (assets === 0n && shares === 0n)
+            throw new errors_1.BlueErrors.InconsistentInput();
+        const market = this.accrueInterest(timestamp);
+        if (shares === 0n)
+            shares = market.toBorrowShares(assets, "Up");
+        else
+            assets = market.toBorrowAssets(shares, "Down");
+        market.totalBorrowAssets += assets;
+        market.totalBorrowShares += shares;
+        if (market.totalBorrowAssets > market.totalSupplyAssets)
+            throw new errors_1.BlueErrors.InsufficientLiquidity(market.id);
+        return { market, assets, shares };
+    }
+    repay(assets, shares, timestamp) {
+        if (assets === 0n && shares === 0n)
+            throw new errors_1.BlueErrors.InconsistentInput();
+        const market = this.accrueInterest(timestamp);
+        if (shares === 0n)
+            shares = market.toBorrowShares(assets, "Down");
+        else
+            assets = market.toBorrowAssets(shares, "Up");
+        market.totalBorrowAssets -= assets;
+        market.totalBorrowShares -= shares;
+        return { market, assets, shares };
+    }
+    /**
+     * Converts a given amount of supply shares into supply loan assets.
+     * @param shares The amount of shares to convert.
+     * @param rounding The rounding direction to use (defaults to "Down").
+     */
+    toSupplyAssets(shares, rounding) {
+        return MarketUtils_1.MarketUtils.toSupplyAssets(shares, this, rounding);
+    }
+    /**
+     * Converts a given amount of supply loan assets into supply shares.
+     * @param shares The amount of assets to convert.
+     * @param rounding The rounding direction to use (defaults to "Up").
+     */
+    toSupplyShares(assets, rounding) {
+        return MarketUtils_1.MarketUtils.toSupplyShares(assets, this, rounding);
+    }
+    /**
+     * Converts a given amount of borrow shares into borrow loan assets.
+     * @param shares The amount of shares to convert.
+     * @param rounding The rounding direction to use (defaults to "Up").
+     */
+    toBorrowAssets(shares, rounding) {
+        return MarketUtils_1.MarketUtils.toBorrowAssets(shares, this, rounding);
+    }
+    /**
+     * Converts a given amount of borrow loan assets into borrow shares.
+     * @param shares The amount of assets to convert.
+     * @param rounding The rounding direction to use (defaults to "Down").
+     */
+    toBorrowShares(assets, rounding) {
+        return MarketUtils_1.MarketUtils.toBorrowShares(assets, this, rounding);
+    }
+    /**
+     * Returns the smallest volume to supply until the market gets the closest to the given utilization rate.
+     * @param utilization The target utilization rate (scaled by WAD).
+     */
+    getSupplyToUtilization(utilization) {
+        return MarketUtils_1.MarketUtils.getSupplyToUtilization(this, utilization);
+    }
+    /**
+     * Returns the liquidity available to withdraw until the market gets the closest to the given utilization rate.
+     * @param utilization The target utilization rate (scaled by WAD).
+     */
+    getWithdrawToUtilization(utilization) {
+        return MarketUtils_1.MarketUtils.getWithdrawToUtilization(this, utilization);
+    }
+    /**
+     * Returns the liquidity available to borrow until the market gets the closest to the given utilization rate.
+     * @param utilization The target utilization rate (scaled by WAD).
+     */
+    getBorrowToUtilization(utilization) {
+        return MarketUtils_1.MarketUtils.getBorrowToUtilization(this, utilization);
+    }
+    /**
+     * Returns the smallest volume to repay until the market gets the closest to the given utilization rate.
+     * @param utilization The target utilization rate (scaled by WAD).
+     */
+    getRepayToUtilization(utilization) {
+        return MarketUtils_1.MarketUtils.getRepayToUtilization(this, utilization);
+    }
+    /**
+     * Returns the value of a given amount of collateral quoted in loan assets.
+     * @param collateral The amount of collateral to quote.
+     */
+    getCollateralValue(collateral) {
+        return MarketUtils_1.MarketUtils.getCollateralValue(collateral, this);
+    }
+    /**
+     * Returns the maximum amount of loan assets that can be borrowed given a certain amount of collateral.
+     * @param collateral The amount of collateral to consider.
+     */
+    getMaxBorrowAssets(collateral, { maxLtv = this.config.lltv } = {}) {
+        return MarketUtils_1.MarketUtils.getMaxBorrowAssets(collateral, this, {
+            lltv: maths_1.MathLib.min(maxLtv, this.config.lltv),
+        });
+    }
+    /**
+     * Returns the maximum amount of loan assets that can be borrowed given a certain borrow position.
+     * @param position The borrow position to consider.
+     */
+    getMaxBorrowableAssets(position) {
+        return MarketUtils_1.MarketUtils.getMaxBorrowableAssets(position, this, this.config);
+    }
+    /**
+     * Returns the amount of collateral that would be seized in a liquidation given a certain amount of repaid shares.
+     * @param repaidShares The amount of shares hypothetically repaid.
+     */
+    getLiquidationSeizedAssets(repaidShares) {
+        return MarketUtils_1.MarketUtils.getLiquidationSeizedAssets(repaidShares, this, this.config);
+    }
+    /**
+     * Returns the amount of borrow shares that would be repaid in a liquidation given a certain amount of seized collateral.
+     * @param seizedAssets The amount of collateral hypothetically seized.
+     */
+    getLiquidationRepaidShares(seizedAssets) {
+        return MarketUtils_1.MarketUtils.getLiquidationRepaidShares(seizedAssets, this, this.config);
+    }
+    /**
+     * Returns the maximum amount of collateral that is worth being seized in a liquidation given a certain borrow position.
+     * @param position The borrow position to consider.
+     */
+    getSeizableCollateral(position) {
+        return MarketUtils_1.MarketUtils.getSeizableCollateral(position, this, this.config);
+    }
+    /**
+     * Returns the amount of collateral that can be withdrawn given a certain borrow position.
+     * @param position The borrow position to consider.
+     */
+    getWithdrawableCollateral(position, { maxLtv = this.config.lltv } = {}) {
+        return MarketUtils_1.MarketUtils.getWithdrawableCollateral(position, this, {
+            lltv: maths_1.MathLib.min(maxLtv, this.config.lltv),
+        });
+    }
+    /**
+     * Returns whether a given borrow position is healthy.
+     * @param position The borrow position to check.
+     */
+    isHealthy(position) {
+        return MarketUtils_1.MarketUtils.isHealthy(position, this, this.config);
+    }
+    /**
+     * Returns the liquidation price of a given borrow position.
+     * @param position The borrow position to consider.
+     */
+    getLiquidationPrice(position) {
+        return MarketUtils_1.MarketUtils.getLiquidationPrice(position, this, this.config);
+    }
+    /**
+     * Returns the price deviation required for the given borrow position to be unhealthy (scaled by WAD).
+     * @param position The borrow position to consider.
+     */
+    getPriceVariationToLiquidation(position) {
+        return MarketUtils_1.MarketUtils.getPriceVariationToLiquidation(position, this, this.config);
+    }
+    /**
+     * Returns the health factor of a given borrow position (scaled by WAD).
+     * @param position The borrow position to consider.
+     */
+    getHealthFactor(position) {
+        return MarketUtils_1.MarketUtils.getHealthFactor(position, this, this.config);
+    }
+    /**
+     * Returns the loan-to-value ratio of a given borrow position (scaled by WAD).
+     * @param position The borrow position to consider.
+     */
+    getLtv(position) {
+        return MarketUtils_1.MarketUtils.getLtv(position, this);
+    }
+    /**
+     * Returns the usage ratio of the maximum borrow capacity given a certain borrow position (scaled by WAD).
+     * @param position The borrow position to consider.
+     */
+    getBorrowCapacityUsage(position) {
+        return MarketUtils_1.MarketUtils.getBorrowCapacityUsage(position, this, this.config);
+    }
+    /**
+     * Returns the maximum amount of loan assets that can be borrowed given a certain borrow position
+     * and the reason for the limit.
+     * @param position The borrow position to consider.
+     */
+    getBorrowCapacityLimit({ collateral, borrowShares = 0n, }, options) {
+        // handle edge cases when the user is liquidatable (maxBorrow < borrow)
+        const maxBorrowableAssets = maths_1.MathLib.zeroFloorSub(this.getMaxBorrowAssets(collateral, options), this.toBorrowAssets(borrowShares));
+        const { liquidity } = this;
+        if (maxBorrowableAssets > liquidity)
+            return {
+                value: liquidity,
+                limiter: CapacityLimitReason.liquidity,
+            };
+        return {
+            value: maxBorrowableAssets,
+            limiter: CapacityLimitReason.collateral,
+        };
+    }
+    /**
+     * Returns the maximum amount of loan assets that can be repaid given a certain borrow position
+     * and a balance of loan assets, and the reason for the limit.
+     * @param position The borrow position to consider.
+     */
+    getRepayCapacityLimit(borrowShares, loanTokenBalance) {
+        const borrowAssets = this.toBorrowAssets(borrowShares);
+        if (borrowAssets > loanTokenBalance)
+            return {
+                value: loanTokenBalance,
+                limiter: CapacityLimitReason.balance,
+            };
+        return {
+            value: borrowAssets,
+            limiter: CapacityLimitReason.position,
+        };
+    }
+    /**
+     * Returns the maximum amount of loan assets that can be withdrawn given a certain supply position
+     * and a balance of loan assets, and the reason for the limit.
+     * @param position The supply position to consider.
+     */
+    getWithdrawCapacityLimit({ supplyShares, }) {
+        const supplyAssets = this.toSupplyAssets(supplyShares);
+        const { liquidity } = this;
+        if (supplyAssets > liquidity)
+            return {
+                value: liquidity,
+                limiter: CapacityLimitReason.liquidity,
+            };
+        return {
+            value: supplyAssets,
+            limiter: CapacityLimitReason.position,
+        };
+    }
+    /**
+     * Returns the maximum amount of collateral assets that can be withdrawn given a certain borrow position
+     * and the reason for the limit.
+     * @param position The borrow position to consider.
+     */
+    getWithdrawCollateralCapacityLimit(position, options) {
+        const withdrawableCollateral = this.getWithdrawableCollateral(position, options);
+        if (position.collateral > withdrawableCollateral)
+            return {
+                value: withdrawableCollateral,
+                limiter: CapacityLimitReason.collateral,
+            };
+        return {
+            value: position.collateral,
+            limiter: CapacityLimitReason.position,
+        };
+    }
+    /**
+     * Returns the maximum capacity for all interactions with Morpho Blue given a certain position
+     * and loan and collateral balances.
+     * @param position The position to consider.
+     * @param loanTokenBalance The balance of loan assets.
+     * @param collateralTokenBalance The balance of collateral assets.
+     */
+    getMaxCapacities(position, loanTokenBalance, collateralTokenBalance, options) {
+        return {
+            supply: {
+                value: loanTokenBalance,
+                limiter: CapacityLimitReason.balance,
+            },
+            withdraw: this.getWithdrawCapacityLimit(position),
+            borrow: this.getBorrowCapacityLimit(position, options?.borrow),
+            repay: this.getRepayCapacityLimit(position.borrowShares, loanTokenBalance),
+            supplyCollateral: {
+                value: collateralTokenBalance,
+                limiter: CapacityLimitReason.balance,
+            },
+            withdrawCollateral: this.getWithdrawCollateralCapacityLimit(position, options?.withdrawCollateral),
+        };
+    }
+}
+exports.Market = Market;

package/lib/market/MarketConfig.d.ts

@@ -0,0 +1,52 @@
+import { Address, BigIntish, MarketId } from "../types";
+export interface MarketParams {
+    loanToken: Address;
+    collateralToken: Address;
+    oracle: Address;
+    irm: Address;
+    lltv: BigIntish;
+}
+/**
+ * Represents a market's configuration (also called market params).
+ */
+export declare class MarketConfig implements MarketParams {
+    private static readonly _CACHE;
+    /**
+     * Returns the previously cached market config for the given id, if any.
+     * @throws {UnknownMarketConfigError} If no market config is cached.
+     */
+    static get(id: MarketId): MarketConfig;
+    /**
+     * Returns the canonical idle market configuration for the given loan token.
+     */
+    static idle(token: Address): MarketConfig;
+    /**
+     * The market's collateral token address.
+     */
+    readonly collateralToken: Address;
+    /**
+     * The market's loan token address.
+     */
+    readonly loanToken: Address;
+    /**
+     * The market's oracle address.
+     */
+    readonly oracle: Address;
+    /**
+     * The market's interest rate model address.
+     */
+    readonly irm: Address;
+    /**
+     * The market's liquidation Loan-To-Value (scaled by WAD).
+     */
+    readonly lltv: bigint;
+    /**
+     * The market's hex-encoded id, defined as the hash of the market params.
+     */
+    readonly id: MarketId;
+    /**
+     * The market's liquidation incentive factor.
+     */
+    readonly liquidationIncentiveFactor: bigint;
+    constructor(params: MarketParams);
+}

package/lib/market/MarketConfig.js

@@ -0,0 +1,76 @@
+"use strict";
+Object.defineProperty(exports, "__esModule", { value: true });
+exports.MarketConfig = void 0;
+const errors_1 = require("../errors");
+const MarketUtils_1 = require("./MarketUtils");
+/**
+ * Represents a market's configuration (also called market params).
+ */
+class MarketConfig {
+    static _CACHE = {};
+    /**
+     * Returns the previously cached market config for the given id, if any.
+     * @throws {UnknownMarketConfigError} If no market config is cached.
+     */
+    static get(id) {
+        const marketConfig = MarketConfig._CACHE[id];
+        if (!marketConfig)
+            throw new errors_1.UnknownMarketConfigError(id);
+        return marketConfig;
+    }
+    /**
+     * Returns the canonical idle market configuration for the given loan token.
+     */
+    static idle(token) {
+        return new MarketConfig({
+            collateralToken: "0x0000000000000000000000000000000000000000",
+            loanToken: token,
+            oracle: "0x0000000000000000000000000000000000000000",
+            irm: "0x0000000000000000000000000000000000000000",
+            lltv: 0n,
+        });
+    }
+    /**
+     * The market's collateral token address.
+     */
+    collateralToken;
+    /**
+     * The market's loan token address.
+     */
+    loanToken;
+    /**
+     * The market's oracle address.
+     */
+    oracle;
+    /**
+     * The market's interest rate model address.
+     */
+    irm;
+    /**
+     * The market's liquidation Loan-To-Value (scaled by WAD).
+     */
+    lltv;
+    /**
+     * The market's hex-encoded id, defined as the hash of the market params.
+     */
+    // Cached because params are readonly.
+    id;
+    /**
+     * The market's liquidation incentive factor.
+     */
+    // Cached because lltv is readonly.
+    liquidationIncentiveFactor;
+    constructor(params) {
+        const { collateralToken, loanToken, oracle, irm, lltv } = params;
+        this.collateralToken = collateralToken;
+        this.loanToken = loanToken;
+        this.oracle = oracle;
+        this.irm = irm;
+        this.lltv = BigInt(lltv);
+        this.id = MarketUtils_1.MarketUtils.getMarketId(params);
+        this.liquidationIncentiveFactor =
+            MarketUtils_1.MarketUtils.getLiquidationIncentiveFactor(params);
+        MarketConfig._CACHE[this.id] = this;
+    }
+}
+exports.MarketConfig = MarketConfig;