@voltr/vault-sdk 1.0.14 → 1.0.16

package/dist/client.d.ts

@@ -1082,6 +1082,22 @@ export declare class VoltrClient extends AccountUtils {
         highestAssetPerLp: number;
         lastUpdatedTs: number;
     }>;
+    /**
+     * Fetches the breakdown of the LP supply for a vault
+     * @param vault - Public key of the vault
+     * @returns Promise resolving to the breakdown of the LP supply
+     *
+     * @example
+     * ```typescript
+     * const lpSupplyBreakdown = await client.getVaultLpSupplyBreakdown(vaultPubkey);
+     * ```
+     */
+    getVaultLpSupplyBreakdown(vault: PublicKey): Promise<{
+        circulating: BN;
+        unharvestedFees: BN;
+        unrealisedFees: BN;
+        total: BN;
+    }>;
     /**
      * Processes a withdrawal receipt into a standardized withdrawal info object
      * @private
@@ -1125,7 +1141,11 @@ export declare class VoltrClient extends AccountUtils {
         withdrawableFromTs: number;
     }[]>;
     calculateLockedProfit(lastUpdatedLockedProfit: BN, lockedProfitDegradationDuration: BN, currentTime: BN): BN;
-    calculateAssetsForWithdrawHelper(vaultTotalValue: BN, vaultLastUpdatedLockedProfit: BN, vaultLockedProfitDegradationDuration: BN, vaultAccumulatedLpAdminFees: BN, vaultAccumulatedLpManagerFees: BN, vaultAccumulatedLpProtocolFees: BN, vaultRedemptionFee: number, lpSupply: BN, lpAmount: BN): BN;
+    /**
+     * Helper to calculate only the pending (unrealised) LP fees based on time elapsed.
+     */
+    private calculateUnrealisedLpFees;
+    calculateAssetsForWithdrawHelper(vaultTotalValue: BN, vaultLastUpdatedLockedProfit: BN, vaultLockedProfitDegradationDuration: BN, vaultAccumulatedLpAdminFees: BN, vaultAccumulatedLpManagerFees: BN, vaultAccumulatedLpProtocolFees: BN, vaultRedemptionFeeBps: number, vaultManagementFeeBps: number, vaultLastManagementFeeUpdateTs: BN, lpSupply: BN, lpAmount: BN): BN;
     /**
      * Calculates the amount of assets that would be received for a given LP token amount
      *

package/dist/client.js

@@ -1275,6 +1275,36 @@ class VoltrClient extends AccountUtils {
             lastUpdatedTs: vaultAccount.highWaterMark.lastUpdatedTs.toNumber(),
         };
     }
+    /**
+     * Fetches the breakdown of the LP supply for a vault
+     * @param vault - Public key of the vault
+     * @returns Promise resolving to the breakdown of the LP supply
+     *
+     * @example
+     * ```typescript
+     * const lpSupplyBreakdown = await client.getVaultLpSupplyBreakdown(vaultPubkey);
+     * ```
+     */
+    async getVaultLpSupplyBreakdown(vault) {
+        const [vaultAccount, lpMintInfo] = await Promise.all([
+            this.fetchVaultAccount(vault),
+            (0, spl_token_1.getMint)(this.conn, this.findVaultLpMint(vault), this.provider.opts.commitment),
+        ]);
+        const circulating = new bn_js_1.default(lpMintInfo.supply.toString());
+        const unharvestedFees = vaultAccount.feeState.accumulatedLpAdminFees
+            .add(vaultAccount.feeState.accumulatedLpManagerFees)
+            .add(vaultAccount.feeState.accumulatedLpProtocolFees);
+        const currentTotalLp = circulating.add(unharvestedFees);
+        const unrealisedFees = this.calculateUnrealisedLpFees(currentTotalLp, vaultAccount.asset.totalValue, vaultAccount.feeUpdate.lastManagementFeeUpdateTs, new bn_js_1.default(vaultAccount.feeConfiguration.managerManagementFee +
+            vaultAccount.feeConfiguration.adminManagementFee));
+        const total = currentTotalLp.add(unrealisedFees);
+        return {
+            circulating,
+            unharvestedFees,
+            unrealisedFees,
+            total,
+        };
+    }
     /**
      * Processes a withdrawal receipt into a standardized withdrawal info object
      * @private
@@ -1283,7 +1313,8 @@ class VoltrClient extends AccountUtils {
         const amountAssetToWithdrawDecimal = (0, decimals_1.convertDecimalBitsToDecimal)(receipt.account.amountAssetToWithdrawDecimalBits);
         const amountAssetToWithdrawAtRequest = amountAssetToWithdrawDecimal.toNumber();
         const amountLpEscrowed = receipt.account.amountLpEscrowed;
-        const amountAssetToWithdrawAtPresent = this.calculateAssetsForWithdrawHelper(vaultAccount.asset.totalValue, vaultAccount.lockedProfitState.lastUpdatedLockedProfit, vaultAccount.vaultConfiguration.lockedProfitDegradationDuration, vaultAccount.feeState.accumulatedLpAdminFees, vaultAccount.feeState.accumulatedLpManagerFees, vaultAccount.feeState.accumulatedLpProtocolFees, vaultAccount.feeConfiguration.redemptionFee, lpSupply, amountLpEscrowed).toNumber();
+        const amountAssetToWithdrawAtPresent = this.calculateAssetsForWithdrawHelper(vaultAccount.asset.totalValue, vaultAccount.lockedProfitState.lastUpdatedLockedProfit, vaultAccount.vaultConfiguration.lockedProfitDegradationDuration, vaultAccount.feeState.accumulatedLpAdminFees, vaultAccount.feeState.accumulatedLpManagerFees, vaultAccount.feeState.accumulatedLpProtocolFees, vaultAccount.feeConfiguration.redemptionFee, vaultAccount.feeConfiguration.managerManagementFee +
+            vaultAccount.feeConfiguration.adminManagementFee, vaultAccount.feeUpdate.lastManagementFeeUpdateTs, lpSupply, amountLpEscrowed).toNumber();
         // Cap the withdrawal amount to the initial request amount
         const amountAssetToWithdrawEffective = Math.min(amountAssetToWithdrawAtPresent, amountAssetToWithdrawAtRequest);
         return {
@@ -1346,7 +1377,37 @@ class VoltrClient extends AccountUtils {
         else
             return lockedProfit;
     }
-    calculateAssetsForWithdrawHelper(vaultTotalValue, vaultLastUpdatedLockedProfit, vaultLockedProfitDegradationDuration, vaultAccumulatedLpAdminFees, vaultAccumulatedLpManagerFees, vaultAccumulatedLpProtocolFees, vaultRedemptionFee, lpSupply, lpAmount) {
+    /**
+     * Helper to calculate only the pending (unrealised) LP fees based on time elapsed.
+     */
+    calculateUnrealisedLpFees(currentTotalLp, assetTotalValue, lastManagementFeeUpdateTs, managementFeeBps) {
+        if (lastManagementFeeUpdateTs.eq(new bn_js_1.default(0)) ||
+            assetTotalValue.eq(new bn_js_1.default(0)) ||
+            managementFeeBps.eq(new bn_js_1.default(0))) {
+            return new bn_js_1.default(0);
+        }
+        const nowBn = new bn_js_1.default(Math.floor(Date.now() / 1000));
+        const timeElapsed = bn_js_1.default.max(new bn_js_1.default(0), nowBn.sub(lastManagementFeeUpdateTs));
+        if (timeElapsed.eq(new bn_js_1.default(0))) {
+            return new bn_js_1.default(0);
+        }
+        const feeAmountInAsset = assetTotalValue
+            .mul(timeElapsed)
+            .mul(managementFeeBps)
+            .div(constants_1.MAX_FEE_BPS_BN)
+            .div(constants_1.ONE_YEAR_BN);
+        const lpNumerator = feeAmountInAsset.mul(currentTotalLp);
+        const lpDenominator = assetTotalValue.sub(feeAmountInAsset);
+        if (lpDenominator.lte(new bn_js_1.default(0))) {
+            return new bn_js_1.default(0);
+        }
+        const pendingLpToMint = lpNumerator
+            .add(lpDenominator)
+            .sub(new bn_js_1.default(1))
+            .div(lpDenominator);
+        return pendingLpToMint;
+    }
+    calculateAssetsForWithdrawHelper(vaultTotalValue, vaultLastUpdatedLockedProfit, vaultLockedProfitDegradationDuration, vaultAccumulatedLpAdminFees, vaultAccumulatedLpManagerFees, vaultAccumulatedLpProtocolFees, vaultRedemptionFeeBps, vaultManagementFeeBps, vaultLastManagementFeeUpdateTs, lpSupply, lpAmount) {
         if (lpSupply <= new bn_js_1.default(0))
             throw new Error("Invalid LP supply");
         if (vaultTotalValue <= new bn_js_1.default(0))
@@ -1356,12 +1417,14 @@ class VoltrClient extends AccountUtils {
         const unharvestedFeesLp = vaultAccumulatedLpAdminFees
             .add(vaultAccumulatedLpManagerFees)
             .add(vaultAccumulatedLpProtocolFees);
-        const lpSupplyInclFees = lpSupply.add(unharvestedFeesLp);
+        const lpSupplyInclAccumulatedFees = lpSupply.add(unharvestedFeesLp);
+        const unrealisedLpFees = this.calculateUnrealisedLpFees(lpSupplyInclAccumulatedFees, vaultTotalValue, vaultLastManagementFeeUpdateTs, new bn_js_1.default(vaultManagementFeeBps));
+        const lpSupplyInclFees = unrealisedLpFees.add(lpSupplyInclAccumulatedFees);
         // asset_to_redeem_pre_fee = amount * (total_asset_pre_withdraw / total_lp_supply_pre_withdraw)
         // asset_to_redeem_post_fee = asset_to_redeem_pre_fee * (10000 - redemption_fee_bps) / 10000
         const assetToRedeemNumerator = lpAmount
             .mul(totalUnlockedValue)
-            .mul(new bn_js_1.default(10000 - vaultRedemptionFee));
+            .mul(new bn_js_1.default(10000 - vaultRedemptionFeeBps));
         const assetToRedeemDenominator = lpSupplyInclFees.mul(new bn_js_1.default(10000));
         const amount = assetToRedeemNumerator.div(assetToRedeemDenominator);
         return amount;
@@ -1389,7 +1452,8 @@ class VoltrClient extends AccountUtils {
             const vault = await this.fetchVaultAccount(vaultPk);
             const lpMint = this.findVaultLpMint(vaultPk);
             const lp = await (0, spl_token_1.getMint)(this.conn, lpMint, this.provider.opts.commitment);
-            const amount = this.calculateAssetsForWithdrawHelper(vault.asset.totalValue, vault.lockedProfitState.lastUpdatedLockedProfit, vault.vaultConfiguration.lockedProfitDegradationDuration, vault.feeState.accumulatedLpAdminFees, vault.feeState.accumulatedLpManagerFees, vault.feeState.accumulatedLpProtocolFees, vault.feeConfiguration.redemptionFee, new bn_js_1.default(lp.supply.toString()), lpAmount);
+            const amount = this.calculateAssetsForWithdrawHelper(vault.asset.totalValue, vault.lockedProfitState.lastUpdatedLockedProfit, vault.vaultConfiguration.lockedProfitDegradationDuration, vault.feeState.accumulatedLpAdminFees, vault.feeState.accumulatedLpManagerFees, vault.feeState.accumulatedLpProtocolFees, vault.feeConfiguration.redemptionFee, vault.feeConfiguration.managerManagementFee +
+                vault.feeConfiguration.adminManagementFee, vault.feeUpdate.lastManagementFeeUpdateTs, new bn_js_1.default(lp.supply.toString()), lpAmount);
             return amount;
         }
         catch (e) {
@@ -1431,7 +1495,10 @@ class VoltrClient extends AccountUtils {
             const unharvestedFeesLp = vault.feeState.accumulatedLpAdminFees
                 .add(vault.feeState.accumulatedLpManagerFees)
                 .add(vault.feeState.accumulatedLpProtocolFees);
-            const lpSupplyInclFees = lpSupply.add(unharvestedFeesLp);
+            const lpSupplyInclAccumulatedFees = lpSupply.add(unharvestedFeesLp);
+            const unrealisedLpFees = this.calculateUnrealisedLpFees(lpSupplyInclAccumulatedFees, totalValue, vault.feeUpdate.lastManagementFeeUpdateTs, new bn_js_1.default(vault.feeConfiguration.managerManagementFee +
+                vault.feeConfiguration.adminManagementFee));
+            const lpSupplyInclFees = unrealisedLpFees.add(lpSupplyInclAccumulatedFees);
             // lp_to_burn_pre_fee = redeem_amount * (total_lp_supply_pre_withdraw / total_asset_pre_withdraw)
             // lp_to_burn_post_fee = lp_to_burn_pre_fee  * (10000 / (10000 - redemption_fee_bps))
             const lpToBurnNumerator = assetAmount
@@ -1471,7 +1538,10 @@ class VoltrClient extends AccountUtils {
         const unharvestedFeesLp = vault.feeState.accumulatedLpAdminFees
             .add(vault.feeState.accumulatedLpManagerFees)
             .add(vault.feeState.accumulatedLpProtocolFees);
-        const lpSupplyInclFees = lpSupply.add(unharvestedFeesLp);
+        const lpSupplyInclAccumulatedFees = lpSupply.add(unharvestedFeesLp);
+        const unrealisedLpFees = this.calculateUnrealisedLpFees(lpSupplyInclAccumulatedFees, totalValue, vault.feeUpdate.lastManagementFeeUpdateTs, new bn_js_1.default(vault.feeConfiguration.managerManagementFee +
+            vault.feeConfiguration.adminManagementFee));
+        const lpSupplyInclFees = unrealisedLpFees.add(lpSupplyInclAccumulatedFees);
         // If the pool is empty, mint LP tokens 1:1 with deposit
         if (lpSupplyInclFees.eq(new bn_js_1.default(0))) {
             const assetMint = await (0, spl_token_1.getMint)(this.conn, vault.asset.mint, this.provider.opts.commitment);

package/dist/constants.d.ts

@@ -1,4 +1,5 @@
 import { PublicKey } from "@solana/web3.js";
+import BN from "bn.js";
 export declare const VAULT_PROGRAM_ID: PublicKey;
 export declare const LENDING_ADAPTOR_PROGRAM_ID: PublicKey;
 export declare const DRIFT_ADAPTOR_PROGRAM_ID: PublicKey;
@@ -17,3 +18,5 @@ export declare const SEEDS: {
     STRATEGY: Buffer<ArrayBuffer>;
     METADATA: Buffer<ArrayBuffer>;
 };
+export declare const ONE_YEAR_BN: BN;
+export declare const MAX_FEE_BPS_BN: BN;

package/dist/constants.js

@@ -1,7 +1,11 @@
 "use strict";
+var __importDefault = (this && this.__importDefault) || function (mod) {
+    return (mod && mod.__esModule) ? mod : { "default": mod };
+};
 Object.defineProperty(exports, "__esModule", { value: true });
-exports.SEEDS = exports.METADATA_PROGRAM_ID = exports.DRIFT_ADAPTOR_PROGRAM_ID = exports.LENDING_ADAPTOR_PROGRAM_ID = exports.VAULT_PROGRAM_ID = void 0;
+exports.MAX_FEE_BPS_BN = exports.ONE_YEAR_BN = exports.SEEDS = exports.METADATA_PROGRAM_ID = exports.DRIFT_ADAPTOR_PROGRAM_ID = exports.LENDING_ADAPTOR_PROGRAM_ID = exports.VAULT_PROGRAM_ID = void 0;
 const web3_js_1 = require("@solana/web3.js");
+const bn_js_1 = __importDefault(require("bn.js"));
 exports.VAULT_PROGRAM_ID = new web3_js_1.PublicKey("vVoLTRjQmtFpiYoegx285Ze4gsLJ8ZxgFKVcuvmG1a8");
 exports.LENDING_ADAPTOR_PROGRAM_ID = new web3_js_1.PublicKey("aVoLTRCRt3NnnchvLYH6rMYehJHwM5m45RmLBZq7PGz");
 exports.DRIFT_ADAPTOR_PROGRAM_ID = new web3_js_1.PublicKey("EBN93eXs5fHGBABuajQqdsKRkCgaqtJa8vEFD6vKXiP");
@@ -21,3 +25,5 @@ exports.SEEDS = {
     STRATEGY: Buffer.from("strategy"),
     METADATA: Buffer.from("metadata"),
 };
+exports.ONE_YEAR_BN = new bn_js_1.default(365 * 24 * 60 * 60);
+exports.MAX_FEE_BPS_BN = new bn_js_1.default(10000);

package/package.json

@@ -1,6 +1,6 @@
 {
   "name": "@voltr/vault-sdk",
-  "version": "1.0.14",
+  "version": "1.0.16",
   "description": "SDK for interacting with Voltr Protocol",
   "main": "dist/index.js",
   "types": "dist/index.d.ts",