@strkfarm/sdk 2.0.0-dev.36 → 2.0.0-dev.38

package/src/strategies/token-boosted-xstrk-carry-strategy.tsx

@@ -3,17 +3,31 @@ import { Global } from "@/global";
 import {
   AccessControlType,
   AuditStatus,
+  FAQ,
   getMainnetConfig,
+  getNoRiskTags,
   IConfig,
   InstantWithdrawalVault,
   IStrategyMetadata,
   Protocols,
+  RiskFactor,
+  RiskType,
   SourceCodeType,
   StrategyTag,
   TokenInfo,
   VaultPosition,
   VaultType,
 } from "@/interfaces";
+import {
+  CounterpartyRiskLevel,
+  DepegRiskLevel,
+  LiquidationRiskLevel,
+  LowLiquidityRiskLevel,
+  MarketRiskLevel,
+  OracleRiskLevel,
+  SmartContractRiskLevel,
+  TechnicalRiskLevel,
+} from "@/interfaces/risks";
 import { ERC20, PricerFromApi, TokenMarketData } from "@/modules";
 import { PricerBase } from "@/modules/pricerBase";
 import { logger, assert } from "@/utils";
@@ -891,15 +905,15 @@ const boostedxSTRKCarrySettings: BoostedxSTRKCarryStrategySettings = {
   leafAdapters: [],
   adapters: [],
   // Calc using the maxLTV / targetLTV (0.5)
-  targetHealthFactor: 1.32,
+  targetHealthFactor: 1.36,
   // Calc using the maxLTV / maxAcceptableLTV (0.55)
-  minHealthFactor: 1.2,
+  minHealthFactor: 1.3,
   vesuPoolId: VesuPools.Prime,
   // New metadata-driven token configuration
   depositToken: Global.getDefaultTokens().find((t) => t.symbol === "USDC")!,
   debtToken: Global.getDefaultTokens().find((t) => t.symbol === "STRK")!,
   lstHyperToken: Global.getDefaultTokens().find((t) => t.symbol === "xSTRK")!,
-  maxLTV: 0.66,
+  maxLTV: 0.68,
   targetLTV: 0.5,
   // BTC.Fi rewards flag - false for USDC (uses old report flow)
   hasBtcFiRewards: false,
@@ -931,13 +945,13 @@ const wbtcBoostedSettings: BoostedxSTRKCarryStrategySettings = {
   ),
   leafAdapters: [],
   adapters: [],
-  targetHealthFactor: 1.32,
-  minHealthFactor: 1.2,
+  targetHealthFactor: 1.4,
+  minHealthFactor: 1.35,
   vesuPoolId: VesuPools.Prime,
   depositToken: Global.getDefaultTokens().find((t) => t.symbol === "WBTC")!,
   debtToken: Global.getDefaultTokens().find((t) => t.symbol === "STRK")!,
   lstHyperToken: Global.getDefaultTokens().find((t) => t.symbol === "xSTRK")!,
-  maxLTV: 0.66,
+  maxLTV: 0.70,
   targetLTV: 0.5,
   hasBtcFiRewards: true,
   hyperLstVaultAddress: ContractAddr.from(
@@ -949,6 +963,158 @@ const wbtcBoostedSettings: BoostedxSTRKCarryStrategySettings = {
   trovesStrategyId: "hyper_xstrk",
 };
 
+// Risk weights drive the displayed net risk score (weighted average of factor levels).
+// Highest weights go to risks that can directly impair principal or block exits; lower weights
+// for mitigated or secondary drivers. Weights sum to 100 for easy reasoning about share of total.
+const boostedCarryRiskFactors: RiskFactor[] = [
+  {
+    type: RiskType.SMART_CONTRACT_RISK,
+    value: SmartContractRiskLevel.WELL_AUDITED,
+    // 20% — core trust assumption; SVK is audited but still multi-contract (vault, manager, adapters).
+    weight: 20,
+    reason:
+      "Built on the Starknet Vault Kit (SVK), with audits under the Sherlock-audited branch.",
+  },
+  {
+    type: RiskType.LIQUIDATION_RISK,
+    value: LiquidationRiskLevel.MODERATE_PROBABILITY,
+    // 20% — tied with smart contract; uncorrelated collateral/debt is the main principal risk here.
+    weight: 20,
+    reason:
+      "Collateral (USDC or WBTC) and STRK debt are not price-correlated. We target ~50% LTV and rebalance above ~55%, with a health-factor buffer, but extreme moves or prolonged monitoring gaps can still trigger liquidation.",
+  },
+  {
+    type: RiskType.LOW_LIQUIDITY_RISK,
+    value: LowLiquidityRiskLevel.MODERATE_CONCERNS,
+    // 15% — below liquidation but above ops risks; every unwind/withdraw depends on xSTRK→STRK depth.
+    weight: 15,
+    reason:
+      "Closing the loop requires selling xSTRK to STRK on DEXes to repay Vesu debt. xSTRK liquidity can be thin at fair prices; larger withdrawals or rebalances may take longer or complete in smaller chunks.",
+  },
+  {
+    type: RiskType.TECHNICAL_RISK,
+    value: TechnicalRiskLevel.SOME_COMPLEXITY,
+    // 13% — monitoring/rebalancing stack matters, but usually recoverable without instant loss.
+    weight: 13,
+    reason:
+      "Yield routes across Vesu, Avnu, and Hyper xSTRK with automated monitoring. Technical failures can delay rebalancing.",
+  },
+  {
+    type: RiskType.DEPEG_RISK,
+    value: DepegRiskLevel.OCCASIONAL_DEPEG,
+    // 12% — affects yield and swap notionals; USDC/WBTC depeg is rarer than xSTRK/STRK drift.
+    weight: 12,
+    reason:
+      "xSTRK yield depends on its exchange rate vs STRK; USDC and WBTC carry standard stablecoin and BTC market risks.",
+  },
+  {
+    type: RiskType.ORACLE_RISK,
+    value: OracleRiskLevel.SINGLE_RELIABLE,
+    // 10% — Vesu HF depends on feeds; Starknet oracles are established but not redundant here.
+    weight: 10,
+    reason:
+      "Vesu collateral and debt valuations rely on Starknet price feeds.",
+  },
+  {
+    type: RiskType.COUNTERPARTY_RISK,
+    value: CounterpartyRiskLevel.REPUTABLE_COUNTERPARTY,
+    // 10% — same tier as oracle; Vesu/Endur/Troves are mature but still protocol counterparty risk.
+    weight: 10,
+    reason:
+      "Exposure to Vesu lending, Endur (xSTRK), and Troves Hyper vault infrastructure.",
+  },
+  {
+    type: RiskType.MARKET_RISK,
+    value: MarketRiskLevel.MODERATE_VOLATILITY,
+    // 5% — largely captured by liquidation + depeg factors; kept small to avoid double-counting vol.
+    weight: 5,
+    reason:
+      "STRK, BTC, and stablecoin volatility can move loan-to-value and swap costs.",
+  },
+];
+
+function getBoostedCarryRisk() {
+  const netRisk =
+    boostedCarryRiskFactors.reduce(
+      (acc, curr) => acc + curr.value * curr.weight,
+      0,
+    ) / boostedCarryRiskFactors.reduce((acc, curr) => acc + curr.weight, 0);
+  return {
+    riskFactor: boostedCarryRiskFactors,
+    netRisk,
+    notARisks: getNoRiskTags(boostedCarryRiskFactors),
+  };
+}
+
+function getBoostedCarryFAQs(
+  depositSymbol: string,
+  debtSymbol: string,
+  lstSymbol: string,
+): FAQ[] {
+  return [
+    {
+      question: `What is ${depositSymbol} Boosted?`,
+      answer: `${depositSymbol} Boosted is a carry-style vault: your ${depositSymbol} is supplied as collateral on Vesu, ${debtSymbol} is borrowed, swapped to ${lstSymbol}, and deposited into Hyper-${lstSymbol} for additional yield on top of the lending loop.`,
+    },
+    {
+      question: "How does this strategy generate yield?",
+      answer: `Yield comes from several layers: ${lstSymbol} staking yield inside Hyper-${lstSymbol}, the spread between borrowing ${debtSymbol} and holding ${lstSymbol}, and efficient routing via Avnu. The vault targets about 50% loan-to-value and rebalances when LTV rises above ~55% so risk and yield stay in balance.`,
+    },
+    {
+      question: "Which protocols are used?",
+      answer: (
+        <span>
+          <strong>Vesu</strong> for collateral and borrowing, <strong>Avnu</strong>{" "}
+          for swaps, <strong>Endur</strong> for {lstSymbol}, and the Troves{" "}
+          <strong>Hyper-{lstSymbol}</strong> vault for the boosted leg.
+        </span>
+      ),
+    },
+    {
+      question: "Is there liquidation risk?",
+      answer: `Yes. Your ${depositSymbol} collateral and ${debtSymbol} debt can move in different directions, which affects your health factor on Vesu. We actively monitor positions and rebalance automatically through our systems to keep loan-to-value near target. However, unexpected technical failures or very sharp market moves can still lead to liquidation. Under normal conditions we aim for a buffer of roughly 30% adverse price movement before liquidation becomes likely — but if monitoring is unavailable for many hours during a trending market, that buffer can be consumed. In extreme scenarios, liquidation remains possible.`,
+    },
+    {
+      question: "What do I receive when I deposit?",
+      answer:
+        "You receive vault tokens representing your share of the vault. They reflect both principal and accrued yield.",
+    },
+    {
+      question: "How long do withdrawals take?",
+      answer:
+        "Withdrawals typically take 1–2 hours. You receive an NFT for your request; funds are sent to the NFT owner once the vault unwinds its positions. The vault must sell xSTRK back to STRK to repay debt — if DEX liquidity is thin or your withdrawal is large, unwinding can take longer or happen in smaller steps to limit slippage.",
+    },
+    {
+      question: "Is this vault non-custodial?",
+      answer:
+        "Yes. The vault runs on-chain. You hold your vault tokens, and positions are transparent via on-chain contracts.",
+    },
+    {
+      question: "Are there any fees?",
+      answer:
+        "Troves charges a 10% performance fee on yield only — not on your deposited principal. The APY shown is already net of this fee. When you withdraw, a 0.1% redemption fee applies. That small fee helps keep the vault efficient for long-term depositors, very short stays create extra swap and rebalancing costs for everyone. If you stay for a reasonable period, your yield will typically far outweigh this one-time charge.",
+    },
+    {
+      question: "Is the vault audited?",
+      answer: (
+        <span>
+          Yes. The strategy is built on the audited Starknet Vault Kit. See the
+          security details beside the strategy name and the{" "}
+          <a
+            href="https://github.com/trovesfi/starknet_vault_kit/tree/sherlock-audited"
+            target="_blank"
+            rel="noopener noreferrer"
+            style={{ textDecoration: "underline" }}
+          >
+            open-source repo
+          </a>
+          .
+        </span>
+      ),
+    },
+  ];
+}
+
 function getStrategySettings(
   settings: BoostedxSTRKCarryStrategySettings,
   meta: { id: string; name: string; launchBlock: number },
@@ -960,7 +1126,7 @@ function getStrategySettings(
   return {
     id: meta.id,
     name: meta.name,
-    description: `Deposits ${depositToken.symbol} as collateral on Vesu, borrows ${debtToken.symbol}, swaps to ${lstToken.symbol}, and deposits into Hyper-${lstToken.symbol} for boosted yield`,
+    description: `Deposits ${depositToken.symbol} as collateral on Vesu, borrows ${debtToken.symbol}, swaps to ${lstToken.symbol}, and deposits into Hyper-${lstToken.symbol} for boosted yield. Target LTV is about 50%, with rebalances happening when LTV is above 55%.`,
     address: settings.vaultAddress,
     launchBlock: meta.launchBlock,
     type: "ERC4626" as const,
@@ -970,13 +1136,8 @@ function getStrategySettings(
     },
     depositTokens: [depositToken],
     additionalInfo: getBoostedxSTRKCarrySettings(settings),
-    // TODO: config lateron
-    risk: {
-      riskFactor: [],
-      netRisk: 0,
-      notARisks: [],
-    },
-    protocols: [Protocols.VESU, Protocols.TROVES],
+    risk: getBoostedCarryRisk(),
+    protocols: [Protocols.VESU, Protocols.ENDUR, Protocols.TROVES],
     curator: {
       name: "Unwrap Labs",
       logo: "https://assets.troves.fi/integrations/unwraplabs/white.png",
@@ -984,7 +1145,7 @@ function getStrategySettings(
     settings: {
       maxTVL: Web3Number.fromWei(0, depositToken.decimals),
       isPaused: false,
-      isAudited: false,
+      isAudited: true,
       isInstantWithdrawal: false,
       hideHarvestInfo: true,
       quoteToken: depositToken,
@@ -997,27 +1158,33 @@ function getStrategySettings(
       ],
     },
     contractDetails: getContractDetails(settings),
-    // TODO: config later
-    faqs: [],
+    faqs: getBoostedCarryFAQs(
+      depositToken.symbol,
+      debtToken.symbol,
+      lstToken.symbol,
+    ),
+    apyMethodology:
+      "APY reflects net returns after a 10% performance fee on yield (not on principal). Underlying xSTRK appreciation and Vesu borrow costs can move over time; displayed APY is an estimate.",
     investmentSteps: [
       `Deposit ${depositToken.symbol} into the vault`,
       `${depositToken.symbol} is supplied as collateral on Vesu, ${debtToken.symbol} is borrowed`,
       `Borrowed ${debtToken.symbol} is swapped to ${lstToken.symbol} via Avnu`,
       `${lstToken.symbol} is deposited into the Hyper-${lstToken.symbol} vault for additional yield`,
-      `On withdrawal, the pipeline reverses to return ${depositToken.symbol}`,
+      `Actively monitored and rebalanced to maintain optimal LTV and yield.`,
     ],
     // TODO: config later
     tags: [StrategyTag.META_VAULT],
     security: {
       auditStatus: AuditStatus.AUDITED,
       sourceCode: {
-        type: SourceCodeType.CLOSED_SOURCE,
-        contractLink: "https://github.com/trovesfi/troves-contracts",
+        type: SourceCodeType.OPEN_SOURCE,
+        contractLink: "https://github.com/trovesfi/starknet_vault_kit/tree/sherlock-audited",
       },
+      // TODO
       accessControl: {
         type: AccessControlType.STANDARD_ACCOUNT,
         addresses: [ContractAddr.from("0x0")],
-        timeLock: "2 Days",
+        timeLock: "0 Days",
       },
     },
     redemptionInfo: {
@@ -1036,12 +1203,11 @@ function getStrategySettings(
         },
       ],
     },
-    usualTimeToEarnings: null,
-    usualTimeToEarningsDescription: null,
+    usualTimeToEarnings: "2 weeks",
+    usualTimeToEarningsDescription: "This strategy depends on Hyper xSTRK's yield, which depends on the price of xSTRK on DEX appreciating. It may be possible the increase is not continuous and generally rebases atleast once every 2 weeks.",
   };
 }
 
-// TODO: rename to BoostedCollateralStrategies later on or smthin
 export const BoostedxSTRKCarryStrategies: IStrategyMetadata<BoostedxSTRKCarryStrategySettings>[] =
   [
     getStrategySettings(boostedxSTRKCarrySettings, {