@morpho-org/blue-sdk 4.9.0 → 4.9.1

package/lib/index.d.ts

@@ -11,3 +11,4 @@ export * from "./holding/index.js";
 export * from "./position/index.js";
 export * from "./vault/index.js";
 export * from "./preLiquidation.js";
+export * from "./utils.js";

package/lib/index.js

@@ -27,3 +27,4 @@ __exportStar(require("./holding/index.js"), exports);
 __exportStar(require("./position/index.js"), exports);
 __exportStar(require("./vault/index.js"), exports);
 __exportStar(require("./preLiquidation.js"), exports);
+__exportStar(require("./utils.js"), exports);

package/lib/market/Market.js

@@ -99,7 +99,7 @@ class Market {
     get apyAtTarget() {
         if (this.rateAtTarget == null)
             return;
-        return MarketUtils_js_1.MarketUtils.compoundRate(this.rateAtTarget);
+        return MarketUtils_js_1.MarketUtils.rateToApy(this.rateAtTarget);
     }
     /**
      * Returns the rate at which interest accrued for suppliers of this market,
@@ -218,7 +218,7 @@ class Market {
      */
     getBorrowApy(timestamp = morpho_ts_1.Time.timestamp()) {
         const borrowRate = this.getEndBorrowRate(timestamp);
-        return MarketUtils_js_1.MarketUtils.compoundRate(borrowRate);
+        return MarketUtils_js_1.MarketUtils.rateToApy(borrowRate);
     }
     /**
      * The market's instantaneous supply-side Annual Percentage Yield (APY) at the given timestamp,
@@ -240,7 +240,7 @@ class Market {
      */
     getAvgBorrowApy(timestamp = morpho_ts_1.Time.timestamp()) {
         const borrowRate = this.getAvgBorrowRate(timestamp);
-        return MarketUtils_js_1.MarketUtils.compoundRate(borrowRate);
+        return MarketUtils_js_1.MarketUtils.rateToApy(borrowRate);
     }
     /**
      * The market's experienced supply-side Annual Percentage Yield (APY),

package/lib/market/MarketUtils.d.ts

@@ -38,11 +38,17 @@ export declare namespace MarketUtils {
     }): bigint;
     /**
      * Returns the per-second rate continuously compounded over the given period, as calculated in Morpho Blue (scaled by WAD).
-     * If the period is 1 year, the compounded rate correspond to the Annual Percentage Yield (APY)
      * @param rate The per-second rate to compound (scaled by WAD).
      * @param period The period to compound the rate over (in seconds). Defaults to 1 year.
+     * @deprecated The compounded rate is inaccurate if rate * period >> 0. If interested in the APY, use `rateToApy` instead.
      */
     function compoundRate(rate: BigIntish, period?: BigIntish): bigint;
+    /**
+     * Returns the per-second rate continuously compounded over a year (scaled by WAD),
+     * as calculated in Morpho Blue assuming the market is frequently accrued onchain.
+     * @param rate The per-second rate to compound annually (scaled by WAD).
+     */
+    function rateToApy(rate: BigIntish): bigint;
     /**
      * Returns the interest accrued on both sides of the given market
      * as well as the supply shares minted to the fee recipient.

package/lib/market/MarketUtils.js

@@ -3,8 +3,10 @@ Object.defineProperty(exports, "__esModule", { value: true });
 exports.MarketUtils = void 0;
 const sha3_1 = require("@noble/hashes/sha3");
 const utils_1 = require("@noble/hashes/utils");
+const viem_1 = require("viem");
 const constants_js_1 = require("../constants.js");
 const index_js_1 = require("../math/index.js");
+const utils_js_1 = require("../utils.js");
 /**
  * Namespace of utility functions to ease market-related calculations.
  */
@@ -63,14 +65,24 @@ var MarketUtils;
     MarketUtils.getSupplyRate = getSupplyRate;
     /**
      * Returns the per-second rate continuously compounded over the given period, as calculated in Morpho Blue (scaled by WAD).
-     * If the period is 1 year, the compounded rate correspond to the Annual Percentage Yield (APY)
      * @param rate The per-second rate to compound (scaled by WAD).
      * @param period The period to compound the rate over (in seconds). Defaults to 1 year.
+     * @deprecated The compounded rate is inaccurate if rate * period >> 0. If interested in the APY, use `rateToApy` instead.
      */
     function compoundRate(rate, period = constants_js_1.SECONDS_PER_YEAR) {
         return index_js_1.MathLib.wTaylorCompounded(rate, period);
     }
     MarketUtils.compoundRate = compoundRate;
+    /**
+     * Returns the per-second rate continuously compounded over a year (scaled by WAD),
+     * as calculated in Morpho Blue assuming the market is frequently accrued onchain.
+     * @param rate The per-second rate to compound annually (scaled by WAD).
+     */
+    // TODO: return a Number for APYs.
+    function rateToApy(rate) {
+        return (0, utils_js_1.safeParseNumber)(Math.expm1(+(0, viem_1.formatEther)(BigInt(rate) * constants_js_1.SECONDS_PER_YEAR)));
+    }
+    MarketUtils.rateToApy = rateToApy;
     /**
      * Returns the interest accrued on both sides of the given market
      * as well as the supply shares minted to the fee recipient.

package/lib/utils.d.ts

@@ -0,0 +1,2 @@
+export declare const safeParseNumber: (value: number, decimals?: number) => bigint;
+export declare const safeParseUnits: (strValue: string, decimals?: number) => bigint;

package/lib/utils.js

@@ -0,0 +1,67 @@
+"use strict";
+Object.defineProperty(exports, "__esModule", { value: true });
+exports.safeParseUnits = exports.safeParseNumber = void 0;
+// Alternative to Number.toFixed that doesn't use scientific notation for excessively small or large numbers.
+const toFixed = (x, decimals) => new Intl.NumberFormat("en-US", {
+    style: "decimal",
+    useGrouping: false,
+    maximumFractionDigits: decimals,
+    minimumFractionDigits: decimals,
+}).format(x);
+const safeParseNumber = (value, decimals = 18) => (0, exports.safeParseUnits)(toFixed(value, decimals), decimals);
+exports.safeParseNumber = safeParseNumber;
+const safeParseUnits = (strValue, decimals = 18) => {
+    if (!/[-+]?[0-9]*\.?[0-9]+/.test(strValue))
+        throw Error(`invalid number: ${strValue}`);
+    let [whole, dec = ""] = strValue.split(".");
+    dec = dec.slice(0, decimals);
+    return parseUnits([whole || "0", dec].filter((v) => v.length > 0).join("."), decimals);
+};
+exports.safeParseUnits = safeParseUnits;
+/**
+ * Multiplies a string representation of a number by a given exponent of base 10 (10exponent).
+ *
+ * - Docs: https://viem.sh/docs/utilities/parseUnits
+ *
+ * @example
+ * import { parseUnits } from 'viem'
+ *
+ * parseUnits('420', 9)
+ * // 420000000000n
+ */
+// TODO: get rid of this copy.
+function parseUnits(value, decimals) {
+    let [integer, fraction = "0"] = value.split(".");
+    const negative = integer.startsWith("-");
+    if (negative)
+        integer = integer.slice(1);
+    // trim trailing zeros.
+    fraction = fraction.replace(/(0+)$/, "");
+    // round off if the fraction is larger than the number of decimals.
+    if (decimals === 0) {
+        if (Math.round(Number(`.${fraction}`)) === 1)
+            integer = `${BigInt(integer) + 1n}`;
+        fraction = "";
+    }
+    else if (fraction.length > decimals) {
+        const [left, unit, right] = [
+            fraction.slice(0, decimals - 1),
+            fraction.slice(decimals - 1, decimals),
+            fraction.slice(decimals),
+        ];
+        const rounded = Math.round(Number(`${unit}.${right}`));
+        if (rounded > 9)
+            fraction = `${BigInt(left) + BigInt(1)}0`.padStart(left.length + 1, "0");
+        else
+            fraction = `${left}${rounded}`;
+        if (fraction.length > decimals) {
+            fraction = fraction.slice(1);
+            integer = `${BigInt(integer) + 1n}`;
+        }
+        fraction = fraction.slice(0, decimals);
+    }
+    else {
+        fraction = fraction.padEnd(decimals, "0");
+    }
+    return BigInt(`${negative ? "-" : ""}${integer}${fraction}`);
+}

package/package.json

@@ -1,7 +1,7 @@
 {
   "name": "@morpho-org/blue-sdk",
   "description": "Framework-agnostic package that defines Morpho-related entity classes (such as `Market`, `Token`, `Vault`).",
-  "version": "4.9.0",
+  "version": "4.9.1",
   "author": "Morpho Association <contact@morpho.org>",
   "contributors": [
     "Rubilmax <rmilon@gmail.com>"
@@ -32,7 +32,7 @@
     "viem": "^2.23.0",
     "vitest": "^3.0.5",
     "@morpho-org/morpho-ts": "^2.4.1",
-    "@morpho-org/test": "^2.1.4"
+    "@morpho-org/test": "^2.1.5"
   },
   "scripts": {
     "prepublish": "$npm_execpath build",