@perena/vault-sdk 1.0.48 → 1.0.49

package/dist/index.js

@@ -1479,6 +1479,140 @@ var require_dist2 = __commonJS({
   }
 });
 
+// ../nest/dist/priceApi.js
+var require_priceApi = __commonJS({
+  "../nest/dist/priceApi.js"(exports2) {
+    "use strict";
+    Object.defineProperty(exports2, "__esModule", { value: true });
+    exports2.NEST_API_BASE_URL = void 0;
+    exports2.fetchNestVaultSharePrice = fetchNestVaultSharePrice2;
+    exports2.NEST_API_BASE_URL = "https://api.nest.credit/v1";
+    async function fetchNestVaultSharePrice2(vaultSlug, opts = {}) {
+      const baseUrl = (opts.baseUrl ?? exports2.NEST_API_BASE_URL).replace(/\/$/, "");
+      const response = await (opts.fetchFn ?? fetch)(`${baseUrl}/vaults/${encodeURIComponent(vaultSlug)}/price`);
+      if (!response.ok) {
+        throw new Error(`Nest price API request failed: ${response.status} ${response.statusText}`);
+      }
+      const body = await response.json();
+      const price = [body.data?.interpolatedPrice, body.data?.price].map(Number).find((candidate) => Number.isFinite(candidate) && candidate > 0);
+      if (price === void 0) {
+        throw new Error("Nest price API returned no positive share price");
+      }
+      return price;
+    }
+  }
+});
+
+// ../nest/dist/redemptionApi.js
+var require_redemptionApi = __commonJS({
+  "../nest/dist/redemptionApi.js"(exports2) {
+    "use strict";
+    Object.defineProperty(exports2, "__esModule", { value: true });
+    exports2.NestApiError = void 0;
+    exports2.assertNestShareAmount = assertNestShareAmount;
+    exports2.fetchNestRedemptionTransaction = fetchNestRedemptionTransaction2;
+    exports2.fetchNestRedemptionQuote = fetchNestRedemptionQuote2;
+    exports2.fetchNestRedemptionStatus = fetchNestRedemptionStatus2;
+    var priceApi_1 = require_priceApi();
+    var NestApiError2 = class extends Error {
+      constructor(status, message2) {
+        super(`Nest API (${status}): ${message2}`);
+        this.status = status;
+        this.name = "NestApiError";
+      }
+    };
+    exports2.NestApiError = NestApiError2;
+    function assertNestShareAmount(amount) {
+      if (typeof amount !== "bigint" || amount <= 0n || amount > 0xffffffffffffffffn) {
+        throw new Error("Nest share amount must be a positive u64 bigint in base units");
+      }
+    }
+    async function request(path2, options, body) {
+      const response = await (options.fetchFn ?? fetch)(`${(options.baseUrl ?? priceApi_1.NEST_API_BASE_URL).replace(/\/$/, "")}${path2}`, {
+        method: body ? "POST" : "GET",
+        headers: body ? { "Content-Type": "application/json" } : void 0,
+        body: body ? JSON.stringify(body) : void 0,
+        signal: options.signal
+      });
+      const payload = await response.json().catch(() => null);
+      if (!response.ok) {
+        throw new NestApiError2(response.status, typeof payload?.error === "string" ? payload.error : response.statusText);
+      }
+      if (!payload || typeof payload !== "object" || !payload.data) {
+        throw new Error("Nest API returned an invalid response");
+      }
+      return payload.data;
+    }
+    async function fetchNestRedemptionTransaction2(args, options = {}) {
+      assertNestShareAmount(args.rawAmountNestToken);
+      const data = await request("/solana/nest/async-redeem/request/build-tx", options, {
+        ...args,
+        rawAmountNestToken: args.rawAmountNestToken.toString(),
+        // Squads must sign both the token authority and LayerZero fee payer at execution.
+        feePayer: args.owner
+      });
+      if (typeof data.txBase64 !== "string" || !data.txBase64.length) {
+        throw new Error("Nest API returned no transaction");
+      }
+      return data.txBase64;
+    }
+    async function fetchNestRedemptionQuote2(args, options = {}) {
+      assertNestShareAmount(args.rawAmountNestToken);
+      const data = await request("/solana/nest/async-redeem/quote", options, {
+        ...args,
+        rawAmountNestToken: args.rawAmountNestToken.toString()
+      });
+      if (data.nestVaultSlug !== args.nestVaultSlug || data.redemptionAsset !== "USDC" || data.shareAmount !== args.rawAmountNestToken.toString() || !Number.isInteger(data.shareDecimals) || data.shareDecimals < 0 || data.shareDecimals > 18 || data.redemptionDecimals !== 6 || typeof data.redemptionAmount !== "string" || typeof data.feeAmount !== "string" || !/^\d+$/.test(data.redemptionAmount) || !/^\d+$/.test(data.feeAmount)) {
+        throw new Error("Nest API returned an invalid redemption quote");
+      }
+      return data;
+    }
+    async function fetchNestRedemptionStatus2(signature, options = {}) {
+      if (!/^[1-9A-HJ-NP-Za-km-z]{64,88}$/.test(signature)) {
+        throw new Error("Enter a Solana withdrawal execution signature");
+      }
+      let data;
+      try {
+        data = await request(`/solana/redeem-status/${encodeURIComponent(signature)}`, options);
+      } catch (error) {
+        if (error instanceof NestApiError2 && error.status === 404)
+          return null;
+        throw error;
+      }
+      if (data.solanaBurnSignature !== signature || typeof data.solanaWallet !== "string" || typeof data.overallStatus !== "string" || !["solanaBurn", "plumeProcessing", "cctpAttestation", "solanaClaim"].every((key) => typeof data.steps?.[key]?.status === "string")) {
+        throw new Error("Nest API returned an invalid redemption status");
+      }
+      return data;
+    }
+  }
+});
+
+// ../nest/dist/index.js
+var require_dist3 = __commonJS({
+  "../nest/dist/index.js"(exports2) {
+    "use strict";
+    var __createBinding = exports2 && exports2.__createBinding || (Object.create ? (function(o, m, k, k2) {
+      if (k2 === void 0) k2 = k;
+      var desc = Object.getOwnPropertyDescriptor(m, k);
+      if (!desc || ("get" in desc ? !m.__esModule : desc.writable || desc.configurable)) {
+        desc = { enumerable: true, get: function() {
+          return m[k];
+        } };
+      }
+      Object.defineProperty(o, k2, desc);
+    }) : (function(o, m, k, k2) {
+      if (k2 === void 0) k2 = k;
+      o[k2] = m[k];
+    }));
+    var __exportStar = exports2 && exports2.__exportStar || function(m, exports3) {
+      for (var p in m) if (p !== "default" && !Object.prototype.hasOwnProperty.call(exports3, p)) __createBinding(exports3, m, p);
+    };
+    Object.defineProperty(exports2, "__esModule", { value: true });
+    __exportStar(require_priceApi(), exports2);
+    __exportStar(require_redemptionApi(), exports2);
+  }
+});
+
 // ../../node_modules/.pnpm/@jup-ag+api@6.0.48/node_modules/@jup-ag/api/dist/index.mjs
 var dist_exports = {};
 __export(dist_exports, {
@@ -2978,7 +3112,7 @@ var require_client = __commonJS({
 });
 
 // ../../node_modules/.pnpm/jupiter@file+typescript+jupiter_bufferutil@4.1.0_fastestsmallesttextencoderdecoder@1.0._929400004aea12c8b3c9bcc7c5a22ec9/node_modules/jupiter/dist/priceApi.js
-var require_priceApi = __commonJS({
+var require_priceApi2 = __commonJS({
   "../../node_modules/.pnpm/jupiter@file+typescript+jupiter_bufferutil@4.1.0_fastestsmallesttextencoderdecoder@1.0._929400004aea12c8b3c9bcc7c5a22ec9/node_modules/jupiter/dist/priceApi.js"(exports2) {
     "use strict";
     Object.defineProperty(exports2, "__esModule", { value: true });
@@ -3109,7 +3243,7 @@ var require_types4 = __commonJS({
 });
 
 // ../../node_modules/.pnpm/jupiter@file+typescript+jupiter_bufferutil@4.1.0_fastestsmallesttextencoderdecoder@1.0._929400004aea12c8b3c9bcc7c5a22ec9/node_modules/jupiter/dist/index.js
-var require_dist3 = __commonJS({
+var require_dist4 = __commonJS({
   "../../node_modules/.pnpm/jupiter@file+typescript+jupiter_bufferutil@4.1.0_fastestsmallesttextencoderdecoder@1.0._929400004aea12c8b3c9bcc7c5a22ec9/node_modules/jupiter/dist/index.js"(exports2) {
     "use strict";
     var __createBinding = exports2 && exports2.__createBinding || (Object.create ? (function(o, m, k, k2) {
@@ -3132,147 +3266,13 @@ var require_dist3 = __commonJS({
     __exportStar(require_api(), exports2);
     __exportStar(require_client(), exports2);
     __exportStar(require_constants4(), exports2);
-    __exportStar(require_priceApi(), exports2);
+    __exportStar(require_priceApi2(), exports2);
     __exportStar(require_routePreInstructions(), exports2);
     __exportStar(require_sizeExactInForMinOutput(), exports2);
     __exportStar(require_types4(), exports2);
   }
 });
 
-// ../nest/dist/priceApi.js
-var require_priceApi2 = __commonJS({
-  "../nest/dist/priceApi.js"(exports2) {
-    "use strict";
-    Object.defineProperty(exports2, "__esModule", { value: true });
-    exports2.NEST_API_BASE_URL = void 0;
-    exports2.fetchNestVaultSharePrice = fetchNestVaultSharePrice2;
-    exports2.NEST_API_BASE_URL = "https://api.nest.credit/v1";
-    async function fetchNestVaultSharePrice2(vaultSlug, opts = {}) {
-      const baseUrl = (opts.baseUrl ?? exports2.NEST_API_BASE_URL).replace(/\/$/, "");
-      const response = await (opts.fetchFn ?? fetch)(`${baseUrl}/vaults/${encodeURIComponent(vaultSlug)}/price`);
-      if (!response.ok) {
-        throw new Error(`Nest price API request failed: ${response.status} ${response.statusText}`);
-      }
-      const body = await response.json();
-      const price = [body.data?.interpolatedPrice, body.data?.price].map(Number).find((candidate) => Number.isFinite(candidate) && candidate > 0);
-      if (price === void 0) {
-        throw new Error("Nest price API returned no positive share price");
-      }
-      return price;
-    }
-  }
-});
-
-// ../nest/dist/redemptionApi.js
-var require_redemptionApi = __commonJS({
-  "../nest/dist/redemptionApi.js"(exports2) {
-    "use strict";
-    Object.defineProperty(exports2, "__esModule", { value: true });
-    exports2.NestApiError = void 0;
-    exports2.assertNestShareAmount = assertNestShareAmount;
-    exports2.fetchNestRedemptionTransaction = fetchNestRedemptionTransaction2;
-    exports2.fetchNestRedemptionQuote = fetchNestRedemptionQuote2;
-    exports2.fetchNestRedemptionStatus = fetchNestRedemptionStatus2;
-    var priceApi_1 = require_priceApi2();
-    var NestApiError2 = class extends Error {
-      constructor(status, message2) {
-        super(`Nest API (${status}): ${message2}`);
-        this.status = status;
-        this.name = "NestApiError";
-      }
-    };
-    exports2.NestApiError = NestApiError2;
-    function assertNestShareAmount(amount) {
-      if (typeof amount !== "bigint" || amount <= 0n || amount > 0xffffffffffffffffn) {
-        throw new Error("Nest share amount must be a positive u64 bigint in base units");
-      }
-    }
-    async function request(path2, options, body) {
-      const response = await (options.fetchFn ?? fetch)(`${(options.baseUrl ?? priceApi_1.NEST_API_BASE_URL).replace(/\/$/, "")}${path2}`, {
-        method: body ? "POST" : "GET",
-        headers: body ? { "Content-Type": "application/json" } : void 0,
-        body: body ? JSON.stringify(body) : void 0,
-        signal: options.signal
-      });
-      const payload = await response.json().catch(() => null);
-      if (!response.ok) {
-        throw new NestApiError2(response.status, typeof payload?.error === "string" ? payload.error : response.statusText);
-      }
-      if (!payload || typeof payload !== "object" || !payload.data) {
-        throw new Error("Nest API returned an invalid response");
-      }
-      return payload.data;
-    }
-    async function fetchNestRedemptionTransaction2(args, options = {}) {
-      assertNestShareAmount(args.rawAmountNestToken);
-      const data = await request("/solana/nest/async-redeem/request/build-tx", options, {
-        ...args,
-        rawAmountNestToken: args.rawAmountNestToken.toString(),
-        // Squads must sign both the token authority and LayerZero fee payer at execution.
-        feePayer: args.owner
-      });
-      if (typeof data.txBase64 !== "string" || !data.txBase64.length) {
-        throw new Error("Nest API returned no transaction");
-      }
-      return data.txBase64;
-    }
-    async function fetchNestRedemptionQuote2(args, options = {}) {
-      assertNestShareAmount(args.rawAmountNestToken);
-      const data = await request("/solana/nest/async-redeem/quote", options, {
-        ...args,
-        rawAmountNestToken: args.rawAmountNestToken.toString()
-      });
-      if (data.nestVaultSlug !== args.nestVaultSlug || data.redemptionAsset !== "USDC" || data.shareAmount !== args.rawAmountNestToken.toString() || !Number.isInteger(data.shareDecimals) || data.shareDecimals < 0 || data.shareDecimals > 18 || data.redemptionDecimals !== 6 || typeof data.redemptionAmount !== "string" || typeof data.feeAmount !== "string" || !/^\d+$/.test(data.redemptionAmount) || !/^\d+$/.test(data.feeAmount)) {
-        throw new Error("Nest API returned an invalid redemption quote");
-      }
-      return data;
-    }
-    async function fetchNestRedemptionStatus2(signature, options = {}) {
-      if (!/^[1-9A-HJ-NP-Za-km-z]{64,88}$/.test(signature)) {
-        throw new Error("Enter a Solana withdrawal execution signature");
-      }
-      let data;
-      try {
-        data = await request(`/solana/redeem-status/${encodeURIComponent(signature)}`, options);
-      } catch (error) {
-        if (error instanceof NestApiError2 && error.status === 404)
-          return null;
-        throw error;
-      }
-      if (data.solanaBurnSignature !== signature || typeof data.solanaWallet !== "string" || typeof data.overallStatus !== "string" || !["solanaBurn", "plumeProcessing", "cctpAttestation", "solanaClaim"].every((key) => typeof data.steps?.[key]?.status === "string")) {
-        throw new Error("Nest API returned an invalid redemption status");
-      }
-      return data;
-    }
-  }
-});
-
-// ../nest/dist/index.js
-var require_dist4 = __commonJS({
-  "../nest/dist/index.js"(exports2) {
-    "use strict";
-    var __createBinding = exports2 && exports2.__createBinding || (Object.create ? (function(o, m, k, k2) {
-      if (k2 === void 0) k2 = k;
-      var desc = Object.getOwnPropertyDescriptor(m, k);
-      if (!desc || ("get" in desc ? !m.__esModule : desc.writable || desc.configurable)) {
-        desc = { enumerable: true, get: function() {
-          return m[k];
-        } };
-      }
-      Object.defineProperty(o, k2, desc);
-    }) : (function(o, m, k, k2) {
-      if (k2 === void 0) k2 = k;
-      o[k2] = m[k];
-    }));
-    var __exportStar = exports2 && exports2.__exportStar || function(m, exports3) {
-      for (var p in m) if (p !== "default" && !Object.prototype.hasOwnProperty.call(exports3, p)) __createBinding(exports3, m, p);
-    };
-    Object.defineProperty(exports2, "__esModule", { value: true });
-    __exportStar(require_priceApi2(), exports2);
-    __exportStar(require_redemptionApi(), exports2);
-  }
-});
-
 // src/index.ts
 var index_exports = {};
 __export(index_exports, {
@@ -3302,7 +3302,7 @@ __export(index_exports, {
   DEFAULT_JUNIOR_WITHDRAWAL_LOCKUP_SECS: () => DEFAULT_JUNIOR_WITHDRAWAL_LOCKUP_SECS,
   DEFAULT_MAX_ACCEPTABLE_APY_BPS: () => DEFAULT_MAX_ACCEPTABLE_APY_BPS,
   DEFAULT_MAX_ACCOUNTS: () => DEFAULT_MAX_ACCOUNTS,
-  DEFAULT_MINTS: () => import_common60.DEFAULT_MINTS,
+  DEFAULT_MINTS: () => import_common61.DEFAULT_MINTS,
   DEFAULT_MIN_AMOUNT_UI: () => DEFAULT_MIN_AMOUNT_UI,
   DEFAULT_ORACLE_STALENESS_THRESHOLD_SECS: () => DEFAULT_ORACLE_STALENESS_THRESHOLD_SECS,
   DEFAULT_PRICE_ORACLE_ACCOUNT: () => DEFAULT_PRICE_ORACLE_ACCOUNT,
@@ -3338,6 +3338,8 @@ __export(index_exports, {
   LOCAL_PROTOCOL_ADMIN: () => LOCAL_PROTOCOL_ADMIN,
   LargeBalanceChangeError: () => LargeBalanceChangeError,
   LivePriceSource: () => LivePriceSource,
+  MANAGER_WALLET_NAV_DROP_TRIGGER_BPS: () => MANAGER_WALLET_NAV_DROP_TRIGGER_BPS,
+  MANAGER_WALLET_NAV_TOLERANCE_BPS: () => MANAGER_WALLET_NAV_TOLERANCE_BPS,
   MAX_APY_ANCHOR_WINDOW_SECS: () => MAX_APY_ANCHOR_WINDOW_SECS,
   MAX_BALANCE_CHANGE_BPS: () => MAX_BALANCE_CHANGE_BPS,
   MAX_CONSENSUS_SIGNERS: () => MAX_CONSENSUS_SIGNERS,
@@ -3349,7 +3351,7 @@ __export(index_exports, {
   ManagerRedepositAssetBuilder: () => ManagerRedepositAssetBuilder,
   ManagerWithdrawAssetBuilder: () => ManagerWithdrawAssetBuilder,
   MarginfiPositionProvider: () => MarginfiPositionProvider,
-  MintRegistry: () => import_common60.MintRegistry,
+  MintRegistry: () => import_common61.MintRegistry,
   MockYieldTracker: () => MockYieldTracker,
   NEST_API_BASE_URL: () => import_nest2.NEST_API_BASE_URL,
   NEST_RWA_SHARE_MINT: () => NEST_RWA_SHARE_MINT,
@@ -3370,6 +3372,7 @@ __export(index_exports, {
   RemoveAssetHoldingBuilder: () => RemoveAssetHoldingBuilder,
   ReportIncentiveV3Builder: () => ReportIncentiveV3Builder,
   RequestJuniorTrancheWithdrawBuilder: () => RequestJuniorTrancheWithdrawBuilder,
+  RpcManagerWalletBalanceSource: () => RpcManagerWalletBalanceSource,
   SHARE_DECIMALS: () => SHARE_DECIMALS,
   SYSTEM_PROGRAM: () => SYSTEM_PROGRAM,
   SetAssetPriceOracleBuilder: () => SetAssetPriceOracleBuilder,
@@ -3420,6 +3423,7 @@ __export(index_exports, {
   buildMarginfiWithdrawInteraction: () => buildMarginfiWithdrawInteraction,
   buildNestWithdrawalRequest: () => buildNestWithdrawalRequest,
   buildUpdates: () => buildUpdates,
+  candidateGrossNav: () => candidateGrossNav,
   coerceBool: () => coerceBool3,
   collectSamples: () => collectSamples,
   confirmYieldPayment: () => confirmYieldPayment,
@@ -3478,16 +3482,19 @@ __export(index_exports, {
   loadKeypair: () => loadKeypair,
   logProspectiveApy: () => logProspectiveApy,
   makeProvider: () => makeProvider,
+  managerReconciliationStateKey: () => managerReconciliationStateKey,
   mintTokensTo: () => mintTokensTo,
-  mints: () => import_common60.mints,
+  mints: () => import_common61.mints,
   mostFrequent: () => mostFrequent,
   parseExternalLiquidityRefs: () => parseExternalLiquidityRefs,
   planRebalance: () => planRebalance,
   prepareSquadsProposalUpload: () => prepareSquadsProposalUpload,
   prepareVaultTransaction: () => prepareVaultTransaction,
+  previousPhysicalNav: () => previousPhysicalNav,
   priceInAccountingUnit: () => priceInAccountingUnit,
   readI64LE: () => readI64LE,
   readSplMintSupply: () => readSplMintSupply,
+  reconcileManagerWalletBalances: () => reconcileManagerWalletBalances,
   refreshLiveOraclePrices: () => refreshLiveOraclePrices,
   resolveExternalWithdraw: () => resolveExternalWithdraw,
   resolveKeypairPath: () => resolveKeypairPath,
@@ -20498,15 +20505,199 @@ async function refreshLiveOraclePrices({
   return results.some((result) => Boolean(result.signature));
 }
 
-// src/services/consensusOracle/pipeline/pricingInputs.ts
+// src/services/consensusOracle/pipeline/managerWalletReconciliation.ts
 var import_common51 = __toESM(require_dist());
+
+// src/services/consensusOracle/sources/nestPriceSource.ts
+var import_kit13 = require("@solana/kit");
+var import_nest = __toESM(require_dist3());
+var import_nest2 = __toESM(require_dist3());
+var NEST_VAULT_SLUG = "nest-perena-vault";
+var NEST_RWA_SHARE_MINT = (0, import_kit13.address)(
+  "VyXKJnVhkSkB6KAozSZCiLQbuB1k1r6Nu4etNYVo5LJ"
+);
+async function fetchNestTokenPrice(nestVaultSlug = NEST_VAULT_SLUG, opts = {}) {
+  return (0, import_nest.fetchNestVaultSharePrice)(nestVaultSlug, opts);
+}
+var NestPriceSource = class {
+  constructor(opts = {}) {
+    this.shareMint = opts.shareMint ?? NEST_RWA_SHARE_MINT;
+    this.nestVaultSlug = opts.nestVaultSlug ?? NEST_VAULT_SLUG;
+    this.options = { baseUrl: opts.baseUrl, fetchFn: opts.fetchFn };
+  }
+  async fetchUsdPrices(mints2) {
+    if (!mints2.some((mint) => mint.toString() === this.shareMint.toString())) {
+      return {};
+    }
+    return {
+      [this.shareMint.toString()]: await (0, import_nest.fetchNestVaultSharePrice)(
+        this.nestVaultSlug,
+        this.options
+      )
+    };
+  }
+};
+
+// src/services/consensusOracle/pipeline/managerWalletReconciliation.ts
+var MANAGER_WALLET_NAV_DROP_TRIGGER_BPS = 10n;
+var MANAGER_WALLET_NAV_TOLERANCE_BPS = 5n;
+var BPS = 10000n;
+var U64_MAX = 0xffffffffffffffffn;
+function previousPhysicalNav(state) {
+  const banked = toBigInt2(state.config.apy?.accruedApyBalance);
+  return toBigInt2(state.accounting?.tvl) + (banked > 0n ? banked : 0n);
+}
+function candidateGrossNav(state, updates) {
+  const byIndex = /* @__PURE__ */ new Map();
+  for (const update of updates) {
+    const holding = state.holdings[update.holdingIndex];
+    if (!holding || (0, import_common51.fromWeb3Pk)(holding.mint) !== update.mint || holding.decimals !== update.decimals || byIndex.has(update.holdingIndex)) {
+      throw new Error(`Invalid NAV update for holding #${update.holdingIndex}`);
+    }
+    byIndex.set(update.holdingIndex, update);
+  }
+  return state.holdings.reduce((nav, holding, index) => {
+    if ((0, import_common51.fromWeb3Pk)(holding.mint) === SYSTEM_PROGRAM) return nav;
+    const update = byIndex.get(index);
+    const local = toBigInt2(holding.localAmount);
+    const external = update?.externalAmount ?? toBigInt2(holding.externalAmount);
+    if (local < 0n || external < 0n || local + external > U64_MAX) {
+      throw new Error(`Invalid NAV amount for holding #${index}`);
+    }
+    if (local + external === 0n) return nav;
+    const price = update && variantName2(holding.priceOracleType).toLowerCase() === CONSENSUS_ORACLE_VARIANT ? update.price : toBigInt2(holding.price);
+    if (price <= 0n || !Number.isInteger(holding.decimals) || holding.decimals < 0 || holding.decimals > 18) {
+      throw new Error(
+        `Cannot value holding #${index} for manager reconciliation`
+      );
+    }
+    const nextNav = nav + (local + external) * price / 10n ** BigInt(holding.decimals);
+    if (nextNav > U64_MAX) throw new Error("Candidate NAV exceeds u64");
+    return nextNav;
+  }, 0n);
+}
+function retainPendingNestShares(state, updates) {
+  return updates.map((update) => {
+    if (update.mint !== NEST_RWA_SHARE_MINT) return update;
+    const recorded = toBigInt2(
+      state.holdings[update.holdingIndex]?.externalAmount
+    );
+    if (recorded <= update.externalAmount) return update;
+    return {
+      ...update,
+      pendingNestAmount: recorded - update.externalAmount,
+      externalAmount: recorded
+    };
+  });
+}
+async function reconcileManagerWalletBalances({
+  vault,
+  vaultState,
+  updates,
+  source,
+  log = () => {
+  }
+}) {
+  const previousNav = previousPhysicalNav(vaultState);
+  if (updates.some(
+    (update) => (update.managerWalletAmount ?? 0n) !== 0n || (update.pendingNestAmount ?? 0n) !== 0n
+  )) {
+    throw new Error("Manager reconciliation requires fresh source amounts");
+  }
+  const pendingUpdates = retainPendingNestShares(vaultState, updates);
+  if (!source || previousNav <= 0n) {
+    return {
+      accepted: false,
+      updates: pendingUpdates,
+      previousNav,
+      candidateNav: 0n
+    };
+  }
+  const candidateNav = candidateGrossNav(vaultState, updates);
+  const result = {
+    accepted: false,
+    updates: pendingUpdates,
+    previousNav,
+    candidateNav
+  };
+  if ((previousNav - candidateNav) * BPS < previousNav * MANAGER_WALLET_NAV_DROP_TRIGGER_BPS) {
+    return result;
+  }
+  const baseUpdates = updates.filter(
+    (update) => coerceBool3(vaultState.holdings[update.holdingIndex].isBase)
+  );
+  const mints2 = baseUpdates.map((update) => update.mint);
+  if (mints2.length === 0) return result;
+  if (new Set(mints2).size !== mints2.length) {
+    throw new Error("Duplicate base mint in manager reconciliation");
+  }
+  if (vaultState.holdings.some(
+    (holding) => coerceBool3(holding.isBase) && !mints2.includes((0, import_common51.fromWeb3Pk)(holding.mint))
+  )) {
+    throw new Error(
+      "Cannot reconcile all vault base assets with oracle reports"
+    );
+  }
+  const manager = (0, import_common51.fromWeb3Pk)(vaultState.roles.manager);
+  if (manager === SYSTEM_PROGRAM || manager === vault) {
+    throw new Error("Invalid manager wallet for NAV reconciliation");
+  }
+  log(
+    `vault ${vault}: NAV ${candidateNav} is at least 0.1% below ${previousNav}; checking manager ${manager}`
+  );
+  const amounts = await source.fetchBalances(manager, mints2);
+  const adjusted = updates.map((update) => {
+    if (!mints2.includes(update.mint)) return update;
+    const amount = amounts.get(update.mint) ?? 0n;
+    if (typeof amount !== "bigint" || amount < 0n || amount > U64_MAX) {
+      throw new Error(`Invalid manager base-asset balance for ${update.mint}`);
+    }
+    return {
+      ...update,
+      managerWalletAmount: amount,
+      externalAmount: update.externalAmount + amount
+    };
+  });
+  const adjustedNav = candidateGrossNav(vaultState, adjusted);
+  const delta = adjustedNav - previousNav;
+  const absoluteDelta = delta < 0n ? -delta : delta;
+  const accepted = adjustedNav > candidateNav && absoluteDelta * BPS <= previousNav * MANAGER_WALLET_NAV_TOLERANCE_BPS;
+  log(
+    `vault ${vault}: manager wallet ${accepted ? "accepted" : "rejected"}; adjusted NAV ${adjustedNav}, previous NAV ${previousNav}, allowed difference \xB10.05%`
+  );
+  return {
+    accepted,
+    updates: accepted ? adjusted : pendingUpdates,
+    previousNav,
+    candidateNav,
+    adjustedNav
+  };
+}
+function managerReconciliationStateKey(state) {
+  return JSON.stringify({
+    manager: (0, import_common51.fromWeb3Pk)(state.roles.manager),
+    previousNav: previousPhysicalNav(state).toString(),
+    holdings: state.holdings.map((holding) => [
+      (0, import_common51.fromWeb3Pk)(holding.mint),
+      holding.decimals,
+      variantName2(holding.priceOracleType),
+      coerceBool3(holding.isBase),
+      toBigInt2(holding.localAmount).toString(),
+      toBigInt2(holding.externalAmount).toString(),
+      toBigInt2(holding.price).toString()
+    ])
+  });
+}
+
+// src/services/consensusOracle/pipeline/pricingInputs.ts
+var import_common52 = __toESM(require_dist());
 async function gatherPricingInputs(deps, target, vaultState, reportableHoldings, log = () => {
 }) {
   const consensusMints = reportableHoldings.filter(
     ({ holding }) => variantName2(holding.priceOracleType).toLowerCase() === CONSENSUS_ORACLE_VARIANT
-  ).map(({ holding }) => (0, import_common51.fromWeb3Pk)(holding.mint));
+  ).map(({ holding }) => (0, import_common52.fromWeb3Pk)(holding.mint));
   const baseHolding = vaultState.holdings.find((h) => coerceBool3(h.isBase));
-  const baseMint = baseHolding ? (0, import_common51.fromWeb3Pk)(baseHolding.mint) : consensusMints[0];
+  const baseMint = baseHolding ? (0, import_common52.fromWeb3Pk)(baseHolding.mint) : consensusMints[0];
   if (!baseMint) {
     throw new Error(`vault has no holdings \u2014 cannot determine base asset`);
   }
@@ -20590,11 +20781,11 @@ function reconcilePositionSnapshots(snapshots, vault, log) {
 }
 
 // src/services/consensusOracle/pipeline/receiptMints.ts
-var import_common52 = __toESM(require_dist());
+var import_common53 = __toESM(require_dist());
 async function fetchReceiptMints(client, vault, vaultState) {
   const receiptMints = /* @__PURE__ */ new Set();
   if (vaultState.mint) {
-    receiptMints.add((0, import_common52.fromWeb3Pk)(vaultState.mint).toString());
+    receiptMints.add((0, import_common53.fromWeb3Pk)(vaultState.mint).toString());
   }
   if (!coerceBool3(vaultState.tranchingEnabled)) return receiptMints;
   const trancheState = await client.account.fetchVaultTrancheStateForVault(
@@ -20602,19 +20793,19 @@ async function fetchReceiptMints(client, vault, vaultState) {
     { fresh: true }
   );
   receiptMints.add(
-    (0, import_common52.fromWeb3Pk)(trancheState.config.juniorMint).toString()
+    (0, import_common53.fromWeb3Pk)(trancheState.config.juniorMint).toString()
   );
   receiptMints.add(
-    (0, import_common52.fromWeb3Pk)(trancheState.config.seniorMint).toString()
+    (0, import_common53.fromWeb3Pk)(trancheState.config.seniorMint).toString()
   );
   return receiptMints;
 }
 
 // src/services/consensusOracle/pipeline/settlement.ts
-var import_common54 = __toESM(require_dist());
+var import_common55 = __toESM(require_dist());
 
 // src/services/consensusOracle/pipeline/yieldAccounts.ts
-var import_common53 = __toESM(require_dist());
+var import_common54 = __toESM(require_dist());
 async function assertNoUnconfirmedYieldPayments(yieldTracker, target) {
   const accountNames = [
     ...new Set(
@@ -20656,7 +20847,7 @@ async function withDiscoveredYieldAccounts(yieldTracker, target, vaultState, exc
   );
   if (namesToAttach.length === 0) return target;
   const baseHolding = vaultState.holdings.find((holding) => {
-    const mint = (0, import_common53.fromWeb3Pk)(holding.mint).toString();
+    const mint = (0, import_common54.fromWeb3Pk)(holding.mint).toString();
     return coerceBool3(holding.isBase) && !excludedMints.has(mint);
   });
   if (!baseHolding) {
@@ -20664,7 +20855,7 @@ async function withDiscoveredYieldAccounts(yieldTracker, target, vaultState, exc
       `vault ${target.vault}: tagged yield accounts found but no base holding is available`
     );
   }
-  const baseMint = (0, import_common53.fromWeb3Pk)(baseHolding.mint);
+  const baseMint = (0, import_common54.fromWeb3Pk)(baseHolding.mint);
   const holdings = [...target.holdings ?? []];
   const existingIndex = holdings.findIndex(
     (holding) => holding.mint.toString() === baseMint.toString()
@@ -20697,13 +20888,14 @@ async function settleVault2({
   updates,
   vaultState,
   nowSecs,
-  log
+  log,
+  beforeSubmit
 }) {
   const vault = target.vault;
   log(`vault ${vault}: submitting ${updates.length} consensus asset update(s)`);
   for (const update of updates) {
     log(
-      `  holding #${update.holdingIndex} ${update.mint}: price=${update.price} external_amount=${update.externalAmount} [lp=${update.lpAmount} tracked=${update.trackedValueAmount} principal=${update.trackedPrincipalAmount} yield=${update.yieldAmount}]`
+      `  holding #${update.holdingIndex} ${update.mint}: price=${update.price} external_amount=${update.externalAmount} [pendingNest=${update.pendingNestAmount ?? 0n} managerWallet=${update.managerWalletAmount ?? 0n} lp=${update.lpAmount} tracked=${update.trackedValueAmount} principal=${update.trackedPrincipalAmount} yield=${update.yieldAmount}]`
     );
   }
   try {
@@ -20725,6 +20917,7 @@ async function settleVault2({
     );
   }
   await assertNoUnconfirmedYieldPayments(yieldTracker, target);
+  await beforeSubmit?.();
   const updateSignature = await oracle.updateAssetConsensusPrice(
     signer,
     {
@@ -20765,7 +20958,7 @@ async function logProspectiveApy({
     );
     const prospectiveNav = vaultState.holdings.reduce(
       (sum, holding, holdingIndex) => {
-        const mint = (0, import_common54.fromWeb3Pk)(holding.mint).toString();
+        const mint = (0, import_common55.fromWeb3Pk)(holding.mint).toString();
         if (mint === SYSTEM_PROGRAM) return sum;
         const update = updatesByIndex.get(holdingIndex);
         const localAmount = toBigInt2(holding.localAmount);
@@ -20821,7 +21014,7 @@ async function discoverVaultsForSigner(client, signer, opts = {}) {
 }
 
 // src/services/consensusOracle/sources/jupiterPriceSource.ts
-var import_jupiter = __toESM(require_dist3());
+var import_jupiter = __toESM(require_dist4());
 var JupiterPriceSource = class {
   constructor(opts = {}) {
     this.opts = opts;
@@ -20831,36 +21024,6 @@ var JupiterPriceSource = class {
   }
 };
 
-// src/services/consensusOracle/sources/nestPriceSource.ts
-var import_kit13 = require("@solana/kit");
-var import_nest = __toESM(require_dist4());
-var import_nest2 = __toESM(require_dist4());
-var NEST_VAULT_SLUG = "nest-perena-vault";
-var NEST_RWA_SHARE_MINT = (0, import_kit13.address)(
-  "VyXKJnVhkSkB6KAozSZCiLQbuB1k1r6Nu4etNYVo5LJ"
-);
-async function fetchNestTokenPrice(nestVaultSlug = NEST_VAULT_SLUG, opts = {}) {
-  return (0, import_nest.fetchNestVaultSharePrice)(nestVaultSlug, opts);
-}
-var NestPriceSource = class {
-  constructor(opts = {}) {
-    this.shareMint = opts.shareMint ?? NEST_RWA_SHARE_MINT;
-    this.nestVaultSlug = opts.nestVaultSlug ?? NEST_VAULT_SLUG;
-    this.options = { baseUrl: opts.baseUrl, fetchFn: opts.fetchFn };
-  }
-  async fetchUsdPrices(mints2) {
-    if (!mints2.some((mint) => mint.toString() === this.shareMint.toString())) {
-      return {};
-    }
-    return {
-      [this.shareMint.toString()]: await (0, import_nest.fetchNestVaultSharePrice)(
-        this.nestVaultSlug,
-        this.options
-      )
-    };
-  }
-};
-
 // src/services/consensusOracle/sources/livePriceSource.ts
 var LivePriceSource = class {
   constructor(opts = {}) {
@@ -20882,6 +21045,59 @@ var LivePriceSource = class {
   }
 };
 
+// src/services/consensusOracle/sources/managerWalletBalanceSource.ts
+var import_web330 = require("@solana/web3.js");
+var import_spl_token20 = require("@solana/spl-token");
+var RpcManagerWalletBalanceSource = class {
+  constructor(connection) {
+    this.connection = connection;
+  }
+  async fetchBalances(manager, mints2) {
+    const wanted = new Set(mints2);
+    if (wanted.size === 0) return /* @__PURE__ */ new Map();
+    const owner = new import_web330.PublicKey(manager);
+    const programs = [import_spl_token20.TOKEN_PROGRAM_ID, import_spl_token20.TOKEN_2022_PROGRAM_ID];
+    const responses = await Promise.all(
+      programs.map(
+        (programId) => this.connection.getParsedTokenAccountsByOwner(
+          owner,
+          { programId },
+          "confirmed"
+        )
+      )
+    );
+    const amounts = /* @__PURE__ */ new Map();
+    const seen = /* @__PURE__ */ new Set();
+    for (let index = 0; index < responses.length; index += 1) {
+      for (const { pubkey: pubkey2, account } of responses[index].value) {
+        const data = account.data;
+        if (!("parsed" in data) || data.parsed?.type !== "account") {
+          throw new Error(`Unparsed manager token account ${pubkey2}`);
+        }
+        const info = data.parsed.info;
+        if (!account.owner.equals(programs[index]) || info?.owner !== manager) {
+          throw new Error(`Invalid manager token account owner ${pubkey2}`);
+        }
+        if (!wanted.has(info.mint)) continue;
+        const key = pubkey2.toBase58();
+        if (seen.has(key))
+          throw new Error(`Duplicate manager token account ${key}`);
+        seen.add(key);
+        const raw = info.tokenAmount?.amount;
+        if (typeof raw !== "string" || !/^\d+$/.test(raw)) {
+          throw new Error(`Invalid manager token balance ${key}`);
+        }
+        const amount = BigInt(raw);
+        if (amount > 0xffffffffffffffffn) {
+          throw new Error(`Manager token balance exceeds u64: ${key}`);
+        }
+        amounts.set(info.mint, (amounts.get(info.mint) ?? 0n) + amount);
+      }
+    }
+    return amounts;
+  }
+};
+
 // src/services/consensusOracle/positions/externalPositions.ts
 var ExternalPositionRegistry = class {
   constructor(providers = [], log = () => {
@@ -20918,7 +21134,7 @@ var StaticPositionProvider = class {
 
 // src/services/consensusOracle/positions/kaminoPositionProvider.ts
 var import_kit14 = require("@solana/kit");
-var import_web330 = require("@solana/web3.js");
+var import_web331 = require("@solana/web3.js");
 var import_klend_sdk = require("@kamino-finance/klend-sdk");
 async function readKaminoBalance(manager, vault, sharesHolder) {
   const userShares = await manager.getUserSharesBalanceSingleVault(
@@ -20955,7 +21171,7 @@ var KaminoPositionProvider = class {
       const amount = await readKaminoBalance(
         manager,
         kVault,
-        new import_web330.PublicKey(sharesHolder)
+        new import_web331.PublicKey(sharesHolder)
       );
       out.push({ mint: ref.mint, amount });
     }
@@ -20964,7 +21180,7 @@ var KaminoPositionProvider = class {
 };
 
 // src/services/consensusOracle/positions/marginfiPositionProvider.ts
-var import_web331 = require("@solana/web3.js");
+var import_web332 = require("@solana/web3.js");
 var import_marginfi2 = __toESM(require_dist2());
 var MarginfiPositionProvider = class {
   constructor(connection, log = () => {
@@ -20975,8 +21191,8 @@ var MarginfiPositionProvider = class {
   async positionsFor(ctx) {
     const refs = ctx.refs.filter((r) => r.kind === "marginfi");
     if (refs.length === 0) return [];
-    const explicitBanks = refs.map((r) => r.marginfiBank).filter(Boolean).map((bank) => new import_web331.PublicKey(bank));
-    const autoAccountPks = refs.filter((r) => !r.marginfiBank).map((r) => r.marginfiAccount).filter(Boolean).map((account) => new import_web331.PublicKey(account));
+    const explicitBanks = refs.map((r) => r.marginfiBank).filter(Boolean).map((bank) => new import_web332.PublicKey(bank));
+    const autoAccountPks = refs.filter((r) => !r.marginfiBank).map((r) => r.marginfiAccount).filter(Boolean).map((account) => new import_web332.PublicKey(account));
     const autoBanks = [];
     for (const accountPk of autoAccountPks) {
       try {
@@ -21005,14 +21221,14 @@ var MarginfiPositionProvider = class {
       if (bank) {
         const amount = await (0, import_marginfi2.readMarginfiBankBalance)(
           client,
-          new import_web331.PublicKey(account),
-          new import_web331.PublicKey(bank)
+          new import_web332.PublicKey(account),
+          new import_web332.PublicKey(bank)
         );
         out.push({ mint: ref.mint, amount });
       } else {
         const balances = await (0, import_marginfi2.readAllMarginfiBalances)(
           client,
-          new import_web331.PublicKey(account)
+          new import_web332.PublicKey(account)
         );
         for (const { mint, amount } of balances) {
           out.push({ mint: mint.toBase58(), amount });
@@ -21219,6 +21435,7 @@ function createLiveConsensusOracleDeps(connection, opts = {}) {
   });
   const deps = {
     priceSource: new LivePriceSource(),
+    managerWalletBalances: new RpcManagerWalletBalanceSource(connection),
     yieldTracker: {
       async getAccountNamesForVault(vault) {
         const accounts2 = await getAccounts();
@@ -21252,7 +21469,7 @@ function createLiveConsensusOracleDeps(connection, opts = {}) {
 }
 
 // src/services/consensusOracle/consensusOracleService.ts
-var import_common55 = __toESM(require_dist());
+var import_common56 = __toESM(require_dist());
 var ConsensusOracleService = class {
   constructor(client, deps) {
     this.client = client;
@@ -21288,7 +21505,7 @@ var ConsensusOracleService = class {
       receiptMints
     );
     const filteredCount = vaultState.holdings.filter(
-      (holding) => receiptMints.has((0, import_common55.fromWeb3Pk)(holding.mint).toString())
+      (holding) => receiptMints.has((0, import_common56.fromWeb3Pk)(holding.mint).toString())
     ).length;
     if (filteredCount > 0) {
       log(
@@ -21318,18 +21535,35 @@ var ConsensusOracleService = class {
       reportableHoldings,
       log
     );
-    const updates = await buildUpdates(
+    const sourcedUpdates = await buildUpdates(
       this.deps.yieldTracker,
       reportableHoldings,
       inputs
     );
-    assertNoLargeBalanceChanges(
-      target.vault,
+    const reconciliation = await reconcileManagerWalletBalances({
+      vault: target.vault,
       vaultState,
-      updates,
-      this.nowSecs(),
+      updates: sourcedUpdates,
+      source: this.deps.managerWalletBalances,
       log
-    );
+    });
+    const updates = reconciliation.updates;
+    const needsRevalidation = reconciliation.accepted || // A new withdrawal can be queued after the first vault read, too.
+    updates.some((update) => update.mint === NEST_RWA_SHARE_MINT);
+    const reconciliationStateKey = needsRevalidation ? managerReconciliationStateKey(vaultState) : void 0;
+    if (!reconciliation.accepted) {
+      assertNoLargeBalanceChanges(
+        target.vault,
+        vaultState,
+        updates,
+        this.nowSecs(),
+        log
+      );
+    } else {
+      log(
+        `vault ${target.vault}: manager NAV reconciliation passed; allowing cross-asset external balance changes`
+      );
+    }
     if (dryRun) {
       log(`vault ${target.vault}: dry run, ${updates.length} holding(s)`);
       try {
@@ -21369,7 +21603,29 @@ var ConsensusOracleService = class {
       updates,
       vaultState,
       nowSecs: this.nowSecs(),
-      log
+      log,
+      beforeSubmit: needsRevalidation ? async () => {
+        const freshState = await this.fetchDecodedVault(target.vault);
+        if (managerReconciliationStateKey(freshState) !== reconciliationStateKey) {
+          throw new Error(
+            "Vault changed during manager-wallet reconciliation; retry with fresh inputs"
+          );
+        }
+        if (!reconciliation.accepted) return;
+        const fresh = await reconcileManagerWalletBalances({
+          vault: target.vault,
+          vaultState: freshState,
+          updates: sourcedUpdates,
+          source: this.deps.managerWalletBalances
+        });
+        if (!fresh.accepted || fresh.updates.some(
+          (update, index) => update.externalAmount !== updates[index].externalAmount
+        )) {
+          throw new Error(
+            "Manager wallet changed during reconciliation; retry with fresh inputs"
+          );
+        }
+      } : void 0
     });
     return {
       vault: target.vault,
@@ -21469,8 +21725,8 @@ async function runLiveConsensusOracle(env, oracleSigner, opts = {}) {
 
 // src/services/externalLiquidityIntegrityService.ts
 var import_kit15 = require("@solana/kit");
-var import_web332 = require("@solana/web3.js");
-var import_common56 = __toESM(require_dist());
+var import_web333 = require("@solana/web3.js");
+var import_common57 = __toESM(require_dist());
 var import_marginfi3 = __toESM(require_dist2());
 var DEFAULT_MIN_AMOUNT_UI = 1;
 var DEFAULT_TARGET_LOCAL_BPS = 50;
@@ -21492,7 +21748,7 @@ function parseActiveSlots(externalLiquidity) {
     if (discriminant === 0) continue;
     if (discriminant !== 1) continue;
     const pubkeyBytes = new Uint8Array(data.slice(8, 40));
-    const userAccount = (0, import_common56.toAddress)(new import_web332.PublicKey(pubkeyBytes));
+    const userAccount = (0, import_common57.toAddress)(new import_web333.PublicKey(pubkeyBytes));
     results.push({ index: i, source: "marginfi", userAccount });
   }
   return results;
@@ -21608,8 +21864,8 @@ var ExternalLiquidityIntegrityService = class {
       result.skipped++;
       return result;
     }
-    const hwManagerAddress = (0, import_common56.fromWeb3Pk)(hwManager.publicKey);
-    const vaultPk = new import_web332.PublicKey(vault.toString());
+    const hwManagerAddress = (0, import_common57.fromWeb3Pk)(hwManager.publicKey);
+    const vaultPk = new import_web333.PublicKey(vault.toString());
     const registeredHwManager = pubkeyStr(
       vaultState.roles.hwManager
     );
@@ -21736,7 +21992,7 @@ var ExternalLiquidityIntegrityService = class {
       marginfiAccounts.tokenProgram,
       true
     );
-    const cpiRefs = (0, import_common56.createCpiRefs)([
+    const cpiRefs = (0, import_common57.createCpiRefs)([
       direction === "deposit" ? marginfiClient.deposit_cpi({
         marginfiAccount: slot.userAccount,
         authority: vault,
@@ -21788,11 +22044,11 @@ var ExternalLiquidityIntegrityService = class {
 
 // src/services/idleLiquidityService.ts
 var import_kit16 = require("@solana/kit");
-var import_spl_token20 = require("@solana/spl-token");
+var import_spl_token21 = require("@solana/spl-token");
 var import_marginfi_client_v2 = require("@mrgnlabs/marginfi-client-v2");
-var import_web333 = require("@solana/web3.js");
-var import_common57 = __toESM(require_dist());
-var import_jupiter2 = __toESM(require_dist3());
+var import_web334 = require("@solana/web3.js");
+var import_common58 = __toESM(require_dist());
+var import_jupiter2 = __toESM(require_dist4());
 var import_marginfi4 = __toESM(require_dist2());
 var IDLE_RESERVE_FLOOR_BPS = 400;
 var IDLE_RESERVE_TARGET_BPS = 500;
@@ -21890,8 +22146,8 @@ var IdleLiquidityService = class {
     let quote;
     try {
       quote = await jupiter.getQuote({
-        inputMint: import_common57.PST_MINT,
-        outputMint: import_common57.USDC_MINT,
+        inputMint: import_common58.PST_MINT,
+        outputMint: import_common58.USDC_MINT,
         amount: pstInput,
         slippageBps: opts.slippageBps ?? DEFAULT_SLIPPAGE_BPS,
         maxAccounts: DEFAULT_MAX_ACCOUNTS
@@ -21937,13 +22193,13 @@ var IdleLiquidityService = class {
   /** Read only the two locations that constitute the idle USDC reserve. */
   async fetchIdleUsdc(vault, vaultState) {
     const connection = this.client.provider.connection;
-    const vaultPk = new import_web333.PublicKey(vault);
-    const usdcMint = new import_web333.PublicKey(import_common57.USDC_MINT);
-    const ata = (0, import_spl_token20.getAssociatedTokenAddressSync)(usdcMint, vaultPk, true);
+    const vaultPk = new import_web334.PublicKey(vault);
+    const usdcMint = new import_web334.PublicKey(import_common58.USDC_MINT);
+    const ata = (0, import_spl_token21.getAssociatedTokenAddressSync)(usdcMint, vaultPk, true);
     const tokenInfo = await connection.getAccountInfo(ata, "confirmed");
     let localAmount = 0n;
     if (tokenInfo) {
-      const tokenAccount = (0, import_spl_token20.unpackAccount)(ata, tokenInfo, import_spl_token20.TOKEN_PROGRAM_ID);
+      const tokenAccount = (0, import_spl_token21.unpackAccount)(ata, tokenInfo, import_spl_token21.TOKEN_PROGRAM_ID);
       if (!tokenAccount.mint.equals(usdcMint) || !tokenAccount.owner.equals(vaultPk) || !tokenAccount.isInitialized) {
         throw new Error(`Invalid vault USDC token account: ${ata.toBase58()}`);
       }
@@ -21957,12 +22213,12 @@ var IdleLiquidityService = class {
     if (data[0] !== 1) {
       throw new Error("External-liquidity slot 0 is not Marginfi");
     }
-    const positionPk = new import_web333.PublicKey(new Uint8Array(data.slice(8, 40)));
+    const positionPk = new import_web334.PublicKey(new Uint8Array(data.slice(8, 40)));
     const positionInfo = await connection.getAccountInfo(
       positionPk,
       "confirmed"
     );
-    if (!positionInfo || !positionInfo.owner.equals(new import_web333.PublicKey(import_marginfi4.MARGINFI_PROGRAM_ID))) {
+    if (!positionInfo || !positionInfo.owner.equals(new import_web334.PublicKey(import_marginfi4.MARGINFI_PROGRAM_ID))) {
       throw new Error(
         `Invalid Marginfi slot-0 account: ${positionPk.toBase58()}`
       );
@@ -22012,8 +22268,8 @@ var IdleLiquidityService = class {
       log(`Vault ${vault}: ${reason} \u2014 skipping`);
       return { result: { ...empty, status: "no-tvl", reason } };
     }
-    const usdc = findHolding2(vaultState, import_common57.USDC_MINT);
-    const pst = findHolding2(vaultState, import_common57.PST_MINT);
+    const usdc = findHolding2(vaultState, import_common58.USDC_MINT);
+    const pst = findHolding2(vaultState, import_common58.PST_MINT);
     if (!usdc || !pst) {
       const reason = `vault has no ${usdc ? "PST" : "USDC"} holding`;
       log(`Vault ${vault}: ${reason} \u2014 skipping`);
@@ -22141,16 +22397,16 @@ var IdleLiquidityService = class {
    */
   async mintTokenProgram(mint) {
     const account = await this.client.provider.connection.getAccountInfo(
-      new import_web333.PublicKey(mint),
+      new import_web334.PublicKey(mint),
       "confirmed"
     );
     if (!account) throw new Error(`Mint account not found: ${mint}`);
-    if (!account.owner.equals(import_spl_token20.TOKEN_PROGRAM_ID) && !account.owner.equals(import_spl_token20.TOKEN_2022_PROGRAM_ID)) {
+    if (!account.owner.equals(import_spl_token21.TOKEN_PROGRAM_ID) && !account.owner.equals(import_spl_token21.TOKEN_2022_PROGRAM_ID)) {
       throw new Error(
         `Unsupported token program ${account.owner.toBase58()} for mint ${mint}`
       );
     }
-    return (0, import_common57.fromWeb3Pk)(account.owner);
+    return (0, import_common58.fromWeb3Pk)(account.owner);
   }
   /**
    * Build, simulate, and (unless `dryRun`) submit the `jupiter_swap`.
@@ -22170,23 +22426,23 @@ var IdleLiquidityService = class {
       dryRun,
       log
     } = params;
-    const signer = (0, import_common57.fromWeb3Pk)(hwManager.publicKey);
+    const signer = (0, import_common58.fromWeb3Pk)(hwManager.publicKey);
     const [sourceTokenProgram, destinationTokenProgram] = await Promise.all([
-      this.mintTokenProgram(import_common57.PST_MINT),
-      this.mintTokenProgram(import_common57.USDC_MINT)
+      this.mintTokenProgram(import_common58.PST_MINT),
+      this.mintTokenProgram(import_common58.USDC_MINT)
     ]);
     const jupiterCpi = await jupiter.getSwapCpiData(quote, vault, {
       payer: signer
     });
-    const { accounts: accounts2, refs, lookupTables } = (0, import_common57.createCpiRefs)([jupiterCpi]);
+    const { accounts: accounts2, refs, lookupTables } = (0, import_common58.createCpiRefs)([jupiterCpi]);
     const vaultTrancheState = coerceBool4(
       vaultState.tranchingEnabled
     ) ? (await this.client.pda.deriveVaultTrancheStatePda(vault))[0] : void 0;
     const plan = await this.client.tx.jupiterSwap.getTx({
       hwManager: signer,
       vault,
-      sourceMint: import_common57.PST_MINT,
-      destinationMint: import_common57.USDC_MINT,
+      sourceMint: import_common58.PST_MINT,
+      destinationMint: import_common58.USDC_MINT,
       refs,
       accounts: accounts2,
       sourceTokenProgram,
@@ -22196,26 +22452,26 @@ var IdleLiquidityService = class {
     });
     const connection = this.client.provider.connection;
     const instructions2 = [
-      import_web333.ComputeBudgetProgram.setComputeUnitLimit({ units: COMPUTE_UNIT_LIMIT }),
+      import_web334.ComputeBudgetProgram.setComputeUnitLimit({ units: COMPUTE_UNIT_LIMIT }),
       ...cuPriceMicroLamports > 0 ? [
-        import_web333.ComputeBudgetProgram.setComputeUnitPrice({
+        import_web334.ComputeBudgetProgram.setComputeUnitPrice({
           microLamports: cuPriceMicroLamports
         })
       ] : [],
-      ...(jupiterCpi.preInstructions ?? []).map(import_common57.fromKitInstruction),
-      ...plan.instructions.map(import_common57.fromKitInstruction)
+      ...(jupiterCpi.preInstructions ?? []).map(import_common58.fromKitInstruction),
+      ...plan.instructions.map(import_common58.fromKitInstruction)
     ];
     const { blockhash, lastValidBlockHeight } = await connection.getLatestBlockhash("confirmed");
-    const lookupTableAccounts = await (0, import_common57.fetchLookupTables)(
+    const lookupTableAccounts = await (0, import_common58.fetchLookupTables)(
       connection,
       plan.lookupTables ?? []
     );
-    const message2 = new import_web333.TransactionMessage({
+    const message2 = new import_web334.TransactionMessage({
       payerKey: hwManager.publicKey,
       recentBlockhash: blockhash,
       instructions: instructions2
     }).compileToV0Message(lookupTableAccounts);
-    const transaction = new import_web333.VersionedTransaction(message2);
+    const transaction = new import_web334.VersionedTransaction(message2);
     transaction.sign([hwManager]);
     if (!this.client.skipSimulation) {
       const simulation = await connection.simulateTransaction(transaction, {
@@ -22261,9 +22517,9 @@ var IdleLiquidityService = class {
 
 // src/services/timelockSettlementService.ts
 var import_kit17 = require("@solana/kit");
-var import_web334 = require("@solana/web3.js");
-var import_common58 = __toESM(require_dist());
-var ZERO_PUBKEY = import_web334.PublicKey.default.toBase58();
+var import_web335 = require("@solana/web3.js");
+var import_common59 = __toESM(require_dist());
+var ZERO_PUBKEY = import_web335.PublicKey.default.toBase58();
 var CONSENSUS_SIGNER_CAPACITY = 4;
 var CONSENSUS_ENTRY_OFFSET = 40;
 var CONSENSUS_ENTRY_SIZE = 272;
@@ -22303,7 +22559,7 @@ function decodePendingConsensusSigners(data) {
   const signers = [];
   for (let i = 0; i < count; i += 1) {
     const start = CONSENSUS_PENDING_OFFSET + i * 32;
-    const signer = new import_web334.PublicKey(bytes.slice(start, start + 32)).toBase58();
+    const signer = new import_web335.PublicKey(bytes.slice(start, start + 32)).toBase58();
     if (signer === ZERO_PUBKEY) {
       throw new Error(`pending consensus signer ${i} is unset`);
     }
@@ -22359,7 +22615,7 @@ var TimelockSettlementService = class {
     });
     const dryRun = opts.dryRun ?? false;
     const now = opts.now ?? await this.chainTime();
-    const fulfillerAddress = (0, import_common58.fromWeb3Pk)(fulfiller.publicKey);
+    const fulfillerAddress = (0, import_common59.fromWeb3Pk)(fulfiller.publicKey);
     const allVaults = opts.vault ? [
       {
         publicKey: opts.vault,
@@ -22502,18 +22758,18 @@ var TimelockSettlementService = class {
 
 // src/services/nestWithdrawalService.ts
 var import_kit18 = require("@solana/kit");
-var import_spl_token21 = require("@solana/spl-token");
-var import_web335 = require("@solana/web3.js");
-var import_common59 = __toESM(require_dist());
-var import_nest3 = __toESM(require_dist4());
-var import_nest4 = __toESM(require_dist4());
-var NestOftProgram = new import_web335.PublicKey(
+var import_spl_token22 = require("@solana/spl-token");
+var import_web336 = require("@solana/web3.js");
+var import_common60 = __toESM(require_dist());
+var import_nest3 = __toESM(require_dist3());
+var import_nest4 = __toESM(require_dist3());
+var NestOftProgram = new import_web336.PublicKey(
   "ChEfPd3RzLeYiRwp1K9evimmaFSd6DV1S4Mv5q5Aj1th"
 );
-var NestOftStore = new import_web335.PublicKey(
+var NestOftStore = new import_web336.PublicKey(
   "k8mJj8Gyw2gFAqut21AFVUUZhxb4RVDMnb4PrSYiDhV"
 );
-var UsdcMint = new import_web335.PublicKey("EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v");
+var UsdcMint = new import_web336.PublicKey("EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v");
 var NestPerenaComposer = Buffer.from(
   "000000000000000000000000908dcb5531691c2124c54e30bb645cf11647090d",
   "hex"
@@ -22530,7 +22786,7 @@ async function buildNestWithdrawalRequest(args) {
   return decodeNestWithdrawalRequest({ ...args, txBase64 });
 }
 async function decodeNestWithdrawalRequest(args) {
-  const transaction = import_web335.VersionedTransaction.deserialize(
+  const transaction = import_web336.VersionedTransaction.deserialize(
     Buffer.from(args.txBase64, "base64")
   );
   const message2 = transaction.message;
@@ -22551,19 +22807,19 @@ async function decodeNestWithdrawalRequest(args) {
       return value;
     })
   );
-  const decoded = import_web335.TransactionMessage.decompile(message2, {
+  const decoded = import_web336.TransactionMessage.decompile(message2, {
     addressLookupTableAccounts: tables
   });
-  const nestMint = new import_web335.PublicKey(NEST_RWA_SHARE_MINT);
-  const sourceAta = (0, import_spl_token21.getAssociatedTokenAddressSync)(nestMint, args.owner, true);
-  const usdcAta = (0, import_spl_token21.getAssociatedTokenAddressSync)(UsdcMint, args.owner, true);
+  const nestMint = new import_web336.PublicKey(NEST_RWA_SHARE_MINT);
+  const sourceAta = (0, import_spl_token22.getAssociatedTokenAddressSync)(nestMint, args.owner, true);
+  const usdcAta = (0, import_spl_token22.getAssociatedTokenAddressSync)(UsdcMint, args.owner, true);
   const instructions2 = decoded.instructions.filter(
-    (ix) => !ix.programId.equals(import_web335.ComputeBudgetProgram.programId)
+    (ix) => !ix.programId.equals(import_web336.ComputeBudgetProgram.programId)
   );
   let sends = 0;
   for (const ix of instructions2) {
-    if (ix.programId.equals(import_spl_token21.ASSOCIATED_TOKEN_PROGRAM_ID)) {
-      if (ix.data.length !== 1 || ix.data[0] !== 1 || !ix.keys[0]?.pubkey.equals(args.owner) || !ix.keys[1]?.pubkey.equals(usdcAta) || !ix.keys[2]?.pubkey.equals(args.owner) || !ix.keys[3]?.pubkey.equals(UsdcMint) || !ix.keys[5]?.pubkey.equals(import_spl_token21.TOKEN_PROGRAM_ID)) {
+    if (ix.programId.equals(import_spl_token22.ASSOCIATED_TOKEN_PROGRAM_ID)) {
+      if (ix.data.length !== 1 || ix.data[0] !== 1 || !ix.keys[0]?.pubkey.equals(args.owner) || !ix.keys[1]?.pubkey.equals(usdcAta) || !ix.keys[2]?.pubkey.equals(args.owner) || !ix.keys[3]?.pubkey.equals(UsdcMint) || !ix.keys[5]?.pubkey.equals(import_spl_token22.TOKEN_PROGRAM_ID)) {
         throw new Error("Unexpected token account creation in Nest withdrawal");
       }
       continue;
@@ -22580,13 +22836,13 @@ async function decodeNestWithdrawalRequest(args) {
   if (sends !== 1)
     throw new Error("Nest withdrawal must contain exactly one OFT send");
   return {
-    instructions: instructions2.map(import_common59.toKitInstruction),
+    instructions: instructions2.map(import_common60.toKitInstruction),
     lookupTables: tables.map((table) => (0, import_kit18.address)(table.key.toBase58()))
   };
 }
 
 // src/index.ts
-var import_common60 = __toESM(require_dist());
+var import_common61 = __toESM(require_dist());
 // Annotate the CommonJS export names for ESM import in node:
 0 && (module.exports = {
   ASSET_DECIMALS,
@@ -22651,6 +22907,8 @@ var import_common60 = __toESM(require_dist());
   LOCAL_PROTOCOL_ADMIN,
   LargeBalanceChangeError,
   LivePriceSource,
+  MANAGER_WALLET_NAV_DROP_TRIGGER_BPS,
+  MANAGER_WALLET_NAV_TOLERANCE_BPS,
   MAX_APY_ANCHOR_WINDOW_SECS,
   MAX_BALANCE_CHANGE_BPS,
   MAX_CONSENSUS_SIGNERS,
@@ -22683,6 +22941,7 @@ var import_common60 = __toESM(require_dist());
   RemoveAssetHoldingBuilder,
   ReportIncentiveV3Builder,
   RequestJuniorTrancheWithdrawBuilder,
+  RpcManagerWalletBalanceSource,
   SHARE_DECIMALS,
   SYSTEM_PROGRAM,
   SetAssetPriceOracleBuilder,
@@ -22733,6 +22992,7 @@ var import_common60 = __toESM(require_dist());
   buildMarginfiWithdrawInteraction,
   buildNestWithdrawalRequest,
   buildUpdates,
+  candidateGrossNav,
   coerceBool,
   collectSamples,
   confirmYieldPayment,
@@ -22791,6 +23051,7 @@ var import_common60 = __toESM(require_dist());
   loadKeypair,
   logProspectiveApy,
   makeProvider,
+  managerReconciliationStateKey,
   mintTokensTo,
   mints,
   mostFrequent,
@@ -22798,9 +23059,11 @@ var import_common60 = __toESM(require_dist());
   planRebalance,
   prepareSquadsProposalUpload,
   prepareVaultTransaction,
+  previousPhysicalNav,
   priceInAccountingUnit,
   readI64LE,
   readSplMintSupply,
+  reconcileManagerWalletBalances,
   refreshLiveOraclePrices,
   resolveExternalWithdraw,
   resolveKeypairPath,