tapimo 0.14.0 → 0.15.1

package/src/internal/rewards/Projection.ts

@@ -0,0 +1,987 @@
+import { getAddress, keccak256, stringToHex, zeroAddress, type Address, type Hex } from 'viem'
+
+import type * as Campaigns from './Campaigns.js'
+
+const rateScale = 10_000n
+const secondsPerYear = 365n * 24n * 60n * 60n
+const sharePriceScale = 10n ** 18n
+
+/** Current mutable projection for one registered recipient. */
+export type Account = {
+  /** Arithmetic remainder carried across reward intervals. */
+  accrualRemainder: bigint
+  /** Principal permanently allocated against campaign caps. */
+  allocatedPrincipalAssets: bigint
+  /** Cumulative EarnShare entitlement. */
+  cumulativeEntitlement: bigint
+  /** Cumulative EarnShare already paid. */
+  cumulativePaid: bigint
+  /** Current delivery deferral. */
+  deferral?: string | undefined
+  /** Eligibility registration version consumed by this projection. */
+  eligibilityRegisteredAt?: string | undefined
+  /** Surviving qualified deposit lots. */
+  lots: Campaigns.DepositLot[]
+  /** Base-asset reward not yet converted into EarnShare. */
+  pendingRewardAssets: bigint
+  /** Current attributable public EarnShare balance. */
+  publicEarnShares: bigint
+  /** Current qualified EarnShare balance. */
+  qualifiedEarnShares: bigint
+  /** Registered recipient. */
+  recipient: Address
+  /** Monotonic eligibility registration order. */
+  registrationOrder: bigint
+}
+
+/** One canonically ordered public deposit or EarnShare transfer. */
+export type Event =
+  | {
+      /** Deposited base assets. */
+      assets: bigint
+      /** Canonical event position. */
+      cursor: Campaigns.EventCursor
+      /** EarnShare minted by the deposit. */
+      earnShares: bigint
+      /** Deposit event kind. */
+      kind: 'deposit'
+      /** Deposit receiver. */
+      recipient: Address
+      /** Block timestamp. */
+      timestamp: number
+    }
+  | {
+      /** Transferred EarnShare. */
+      amount: bigint
+      /** Canonical event position. */
+      cursor: Campaigns.EventCursor
+      /** Sender, or zero address for mint. */
+      from: Address
+      /** Transfer event kind. */
+      kind: 'transfer'
+      /** Block timestamp. */
+      timestamp: number
+      /** Recipient, or zero address for burn. */
+      to: Address
+    }
+
+/** Returns a deterministic checksum for a run's complete closing account state. */
+export function checksum(accounts: readonly Account[]): Hex {
+  return keccak256(
+    stringToHex(
+      JSON.stringify(
+        [...accounts].sort(compareAccounts).map((account) => ({
+          accrualRemainder: account.accrualRemainder.toString(),
+          allocatedPrincipalAssets: account.allocatedPrincipalAssets.toString(),
+          cumulativeEntitlement: account.cumulativeEntitlement.toString(),
+          cumulativePaid: account.cumulativePaid.toString(),
+          deferral: account.deferral ?? null,
+          eligibilityRegisteredAt: account.eligibilityRegisteredAt ?? null,
+          lots: account.lots,
+          pendingRewardAssets: account.pendingRewardAssets.toString(),
+          publicEarnShares: account.publicEarnShares.toString(),
+          qualifiedEarnShares: account.qualifiedEarnShares.toString(),
+          recipient: account.recipient.toLowerCase(),
+          registrationOrder: account.registrationOrder.toString(),
+        })),
+      ),
+    ),
+  )
+}
+
+/** Restores one calculation projection from a durable run snapshot. */
+export function fromSnapshot(snapshot: Campaigns.AccountSnapshot): Account {
+  return {
+    accrualRemainder: BigInt(snapshot.accrualRemainder),
+    allocatedPrincipalAssets: BigInt(snapshot.allocatedPrincipalAssets),
+    cumulativeEntitlement: BigInt(snapshot.cumulativeEntitlement),
+    cumulativePaid: BigInt(snapshot.cumulativePaid),
+    ...(snapshot.deferral ? { deferral: snapshot.deferral } : {}),
+    ...(snapshot.eligibilityRegisteredAt
+      ? { eligibilityRegisteredAt: snapshot.eligibilityRegisteredAt }
+      : {}),
+    lots: [],
+    pendingRewardAssets: BigInt(snapshot.pendingRewardAssets),
+    publicEarnShares: BigInt(snapshot.publicEarnShares),
+    qualifiedEarnShares: BigInt(snapshot.qualifiedEarnShares),
+    recipient: getAddress(snapshot.recipient),
+    registrationOrder: BigInt(snapshot.registrationOrder),
+  }
+}
+
+/** Serializes one calculation projection for crash-safe run recovery. */
+export function snapshot(account: Account): Campaigns.AccountSnapshot {
+  return {
+    accrualRemainder: account.accrualRemainder.toString(),
+    allocatedPrincipalAssets: account.allocatedPrincipalAssets.toString(),
+    cumulativeEntitlement: account.cumulativeEntitlement.toString(),
+    cumulativePaid: account.cumulativePaid.toString(),
+    deferral: account.deferral ?? null,
+    eligibilityRegisteredAt: account.eligibilityRegisteredAt ?? null,
+    lots: [],
+    pendingRewardAssets: account.pendingRewardAssets.toString(),
+    publicEarnShares: account.publicEarnShares.toString(),
+    qualifiedEarnShares: account.qualifiedEarnShares.toString(),
+    recipient: account.recipient,
+    registrationOrder: account.registrationOrder.toString(),
+  }
+}
+
+/** Applies ordered public events and campaign cap allocation to registered accounts. */
+export function apply(options: apply.Options): apply.Result {
+  const result = applyEvents(options, send)
+  return {
+    ...result,
+    accounts: result.accounts.map((account) => ({ ...account, lots: [] })),
+  }
+}
+
+function applyEvents(options: apply.Options, sendAccount: typeof send): apply.Result {
+  const accounts = new Map(
+    options.accounts.map((account) => [account.recipient.toLowerCase(), clone(account)]),
+  )
+  const eligible = new Map(
+    options.eligible.map((entry) => [entry.recipient.toLowerCase(), entry.registrationOrder]),
+  )
+  const excluded = new Set(options.excluded.map((address) => address.toLowerCase()))
+  for (const [recipient] of eligible) account(accounts, eligible, excluded, getAddress(recipient))
+  let allocated = [...accounts.values()].reduce(
+    (sum, account) => sum + account.allocatedPrincipalAssets,
+    0n,
+  )
+  const events = [...options.events].sort(compareEvents)
+  for (const event of events) {
+    if (event.kind === 'transfer') {
+      if (sameAddress(event.from, event.to)) continue
+      if (event.from.toLowerCase() !== zeroAddress) {
+        const sender = accounts.get(event.from.toLowerCase())
+        if (sender) sendAccount(sender, event.amount)
+      }
+      if (event.to.toLowerCase() !== zeroAddress) {
+        const recipient = account(accounts, eligible, excluded, event.to)
+        if (recipient) recipient.publicEarnShares += event.amount
+      }
+      continue
+    }
+    const recipient = account(accounts, eligible, excluded, event.recipient)
+    if (!recipient || event.assets === 0n || event.earnShares === 0n) continue
+    const userRemaining = maximum(
+      options.perUserPrincipalCapAssets - recipient.allocatedPrincipalAssets,
+      0n,
+    )
+    const campaignRemaining = maximum(options.totalPrincipalCapAssets - allocated, 0n)
+    const allocatedAssets = minimum(event.assets, userRemaining, campaignRemaining)
+    if (allocatedAssets === 0n) continue
+    const qualifiedShares = (event.earnShares * allocatedAssets) / event.assets
+    if (qualifiedShares === 0n) continue
+    recipient.allocatedPrincipalAssets += allocatedAssets
+    recipient.qualifiedEarnShares += qualifiedShares
+    recipient.lots.push({
+      allocatedPrincipalAssets: allocatedAssets.toString(),
+      depositedAssets: event.assets.toString(),
+      depositedEarnShares: event.earnShares.toString(),
+      event: event.cursor,
+      remainingEarnShares: qualifiedShares.toString(),
+    })
+    allocated += allocatedAssets
+  }
+  return {
+    accounts: [...accounts.values()].sort(compareAccounts),
+    allocatedPrincipalAssets: allocated,
+  }
+}
+
+/** Reconstructs surviving pre-campaign deposit lots before permanently allocating campaign caps. */
+export function bootstrap(options: bootstrap.Options): apply.Result {
+  const unlimited = (1n << 256n) - 1n
+  const replayed = applyEvents(
+    {
+      accounts: [],
+      eligible: options.eligible,
+      events: options.events,
+      excluded: options.excluded,
+      perUserPrincipalCapAssets: unlimited,
+      totalPrincipalCapAssets: unlimited,
+    },
+    sendLots,
+  )
+  return allocateBootstrap(replayed.accounts, options)
+}
+
+function allocateBootstrap(
+  replayed: readonly Account[],
+  options: Omit<bootstrap.Options, 'events'>,
+): apply.Result {
+  const accounts = replayed.map((source) => ({
+    ...clone(source),
+    allocatedPrincipalAssets: 0n,
+    lots: [] as Campaigns.DepositLot[],
+    qualifiedEarnShares: 0n,
+  }))
+  const byRecipient = new Map(accounts.map((entry) => [entry.recipient.toLowerCase(), entry]))
+  let allocated = 0n
+  const lots = replayed
+    .flatMap((entry) => entry.lots.map((lot) => ({ lot, recipient: entry.recipient })))
+    .sort((left, right) => {
+      if (options.principalAllocationOrder === 'registration') {
+        const order =
+          byRecipient.get(left.recipient.toLowerCase())!.registrationOrder -
+          byRecipient.get(right.recipient.toLowerCase())!.registrationOrder
+        if (order !== 0n) return order < 0n ? -1 : 1
+      }
+      return compareCursors(left.lot.event, right.lot.event)
+    })
+  for (const { lot, recipient } of lots) {
+    const account = byRecipient.get(recipient.toLowerCase())!
+    const remainingEarnShares = BigInt(lot.remainingEarnShares)
+    const depositedEarnShares = BigInt(lot.depositedEarnShares)
+    const survivingPrincipalAssets =
+      depositedEarnShares === 0n
+        ? 0n
+        : (BigInt(lot.depositedAssets) * remainingEarnShares) / depositedEarnShares
+    const userRemaining = maximum(
+      options.perUserPrincipalCapAssets - account.allocatedPrincipalAssets,
+      0n,
+    )
+    const campaignRemaining = maximum(options.totalPrincipalCapAssets - allocated, 0n)
+    const allocatedPrincipalAssets = minimum(
+      survivingPrincipalAssets,
+      userRemaining,
+      campaignRemaining,
+    )
+    if (allocatedPrincipalAssets === 0n || survivingPrincipalAssets === 0n) continue
+    const qualifiedEarnShares =
+      (remainingEarnShares * allocatedPrincipalAssets) / survivingPrincipalAssets
+    if (qualifiedEarnShares === 0n) continue
+    account.allocatedPrincipalAssets += allocatedPrincipalAssets
+    account.qualifiedEarnShares += qualifiedEarnShares
+    allocated += allocatedPrincipalAssets
+  }
+  return { accounts: accounts.sort(compareAccounts), allocatedPrincipalAssets: allocated }
+}
+
+/** Reconciles registration history pagewise and checkpoints replay state without retaining events. */
+export async function reconcilePages(
+  options: reconcilePages.Options,
+): Promise<reconcileRegistrations.Result> {
+  const current = new Map(
+    options.accounts.map((account) => [account.recipient.toLowerCase(), account]),
+  )
+  const pending = new Map(
+    options.eligible
+      .filter((entry) => {
+        const account = current.get(entry.recipient.toLowerCase())
+        return account?.eligibilityRegisteredAt !== entry.registeredAt
+      })
+      .map((entry) => [entry.recipient.toLowerCase(), entry]),
+  )
+  if (pending.size === 0) return { accounts: options.accounts, reconciled: false }
+  const replay = new Map(
+    [...pending].filter(([recipient]) => {
+      const account = current.get(recipient)
+      return (
+        !account ||
+        (account.allocatedPrincipalAssets === 0n &&
+          account.lots.length === 0 &&
+          account.qualifiedEarnShares === 0n)
+      )
+    }),
+  )
+  const retained = options.accounts.filter(
+    (account) => !replay.has(account.recipient.toLowerCase()),
+  )
+  const retainedAllocated = retained.reduce(
+    (sum, account) => sum + account.allocatedPrincipalAssets,
+    0n,
+  )
+  let replayed = options.checkpoint
+    ? options.checkpoint.accounts.map(fromSnapshot)
+    : apply({
+        accounts: [],
+        eligible: [...replay.values()].map((entry) => ({
+          recipient: entry.recipient,
+          registrationOrder: entry.registrationOrder,
+        })),
+        events: [],
+        excluded: options.excluded,
+        perUserPrincipalCapAssets: 0n,
+        totalPrincipalCapAssets: 0n,
+      }).accounts
+  const depositedEarnShares = new Map<string, bigint>(
+    Object.entries(options.checkpoint?.depositedEarnShares ?? {}).map(([recipient, value]) => [
+      recipient,
+      BigInt(value),
+    ]),
+  )
+  let replayedThrough = options.checkpoint?.replayedThrough
+  if (!options.checkpoint || options.checkpoint.pass === 'survival')
+    for await (const page of options.pages('survival', options.checkpoint?.cursor)) {
+      const { events } = page
+      const accounts = new Map(replayed.map((entry) => [entry.recipient.toLowerCase(), entry]))
+      const eligible = new Map(
+        [...replay].map(([recipient, entry]) => [recipient, entry.registrationOrder]),
+      )
+      const excluded = new Set(options.excluded.map((address) => address.toLowerCase()))
+      for (const event of [...events].sort(compareEvents)) {
+        if (event.kind === 'deposit') {
+          const recipient = account(accounts, eligible, excluded, event.recipient)
+          if (!recipient || event.assets === 0n || event.earnShares === 0n) continue
+          const key = recipient.recipient.toLowerCase()
+          depositedEarnShares.set(key, (depositedEarnShares.get(key) ?? 0n) + event.earnShares)
+          recipient.qualifiedEarnShares += event.earnShares
+          continue
+        }
+        if (sameAddress(event.from, event.to)) continue
+        if (event.from.toLowerCase() !== zeroAddress) {
+          const sender = accounts.get(event.from.toLowerCase())
+          if (sender) send(sender, event.amount)
+        }
+        if (event.to.toLowerCase() !== zeroAddress) {
+          const recipient = account(accounts, eligible, excluded, event.to)
+          if (recipient) recipient.publicEarnShares += event.amount
+        }
+      }
+      replayed = [...accounts.values()].sort(compareAccounts)
+      const cursor = events.at(-1)?.cursor
+      if (cursor) {
+        replayedThrough = cursor
+        await options.checkpointState?.({
+          accounts: replayed.map(snapshot),
+          cursor,
+          depositedEarnShares: Object.fromEntries(
+            [...depositedEarnShares].map(([recipient, value]) => [recipient, value.toString()]),
+          ),
+          pass: 'survival',
+          replayedThrough,
+        })
+      }
+    }
+  let initialized =
+    options.checkpoint?.pass === 'allocation'
+      ? options.checkpoint.accounts.map(fromSnapshot)
+      : replayed.map((entry) => ({
+          ...entry,
+          allocatedPrincipalAssets: 0n,
+          lots: [],
+          qualifiedEarnShares: 0n,
+        }))
+  const consumedEarnShares = new Map<string, bigint>(
+    options.checkpoint?.pass === 'allocation'
+      ? Object.entries(options.checkpoint.consumedEarnShares ?? {}).map(([recipient, value]) => [
+          recipient,
+          BigInt(value),
+        ])
+      : replayed.map((entry) => [
+          entry.recipient.toLowerCase(),
+          (depositedEarnShares.get(entry.recipient.toLowerCase()) ?? 0n) -
+            entry.qualifiedEarnShares,
+        ]),
+  )
+  let allocated =
+    retainedAllocated + initialized.reduce((sum, entry) => sum + entry.allocatedPrincipalAssets, 0n)
+  for await (const page of options.pages(
+    'allocation',
+    options.checkpoint?.pass === 'allocation' ? options.checkpoint.cursor : undefined,
+  )) {
+    const { events } = page
+    const accounts = new Map(initialized.map((entry) => [entry.recipient.toLowerCase(), entry]))
+    for (const event of events) {
+      if (event.kind !== 'deposit') continue
+      const recipient = accounts.get(event.recipient.toLowerCase())
+      if (!recipient || event.assets === 0n || event.earnShares === 0n) continue
+      const key = recipient.recipient.toLowerCase()
+      const consumed = minimum(consumedEarnShares.get(key) ?? 0n, event.earnShares)
+      consumedEarnShares.set(key, (consumedEarnShares.get(key) ?? 0n) - consumed)
+      const remainingEarnShares = event.earnShares - consumed
+      const survivingPrincipalAssets = (event.assets * remainingEarnShares) / event.earnShares
+      const allocatedPrincipalAssets = minimum(
+        survivingPrincipalAssets,
+        maximum(options.perUserPrincipalCapAssets - recipient.allocatedPrincipalAssets, 0n),
+        maximum(options.totalPrincipalCapAssets - allocated, 0n),
+      )
+      if (allocatedPrincipalAssets === 0n || survivingPrincipalAssets === 0n) continue
+      const qualifiedEarnShares =
+        (remainingEarnShares * allocatedPrincipalAssets) / survivingPrincipalAssets
+      if (qualifiedEarnShares === 0n) continue
+      recipient.allocatedPrincipalAssets += allocatedPrincipalAssets
+      recipient.qualifiedEarnShares += qualifiedEarnShares
+      allocated += allocatedPrincipalAssets
+    }
+    initialized = [...accounts.values()].sort(compareAccounts)
+    const cursor = events.at(-1)?.cursor
+    if (cursor || page.allocationRecipient)
+      await options.checkpointState?.({
+        ...(page.allocationRecipient ? { allocationRecipient: page.allocationRecipient } : {}),
+        accounts: initialized.map(snapshot),
+        consumedEarnShares: Object.fromEntries(
+          [...consumedEarnShares].map(([recipient, value]) => [recipient, value.toString()]),
+        ),
+        ...(cursor ? { cursor } : {}),
+        depositedEarnShares: Object.fromEntries(
+          [...depositedEarnShares].map(([recipient, value]) => [recipient, value.toString()]),
+        ),
+        pass: 'allocation',
+        ...(replayedThrough ? { replayedThrough } : {}),
+      })
+  }
+  return {
+    accounts: [
+      ...retained.map((account) => {
+        const entry = pending.get(account.recipient.toLowerCase())
+        return entry ? { ...account, eligibilityRegisteredAt: entry.registeredAt } : account
+      }),
+      ...initialized.map((account) => {
+        const entry = pending.get(account.recipient.toLowerCase())!
+        const previous = current.get(account.recipient.toLowerCase())
+        return {
+          ...account,
+          accrualRemainder: previous?.accrualRemainder ?? 0n,
+          cumulativeEntitlement: previous?.cumulativeEntitlement ?? 0n,
+          cumulativePaid: previous?.cumulativePaid ?? 0n,
+          ...(previous?.deferral ? { deferral: previous.deferral } : {}),
+          eligibilityRegisteredAt: entry.registeredAt,
+          pendingRewardAssets: previous?.pendingRewardAssets ?? 0n,
+        }
+      }),
+    ].sort(compareAccounts),
+    reconciled: true,
+  }
+}
+
+export declare namespace reconcilePages {
+  /** One historical page with optional registration traversal progress. */
+  type Page = {
+    /** Registration-order recipient represented by this page. */
+    allocationRecipient?: Address | undefined
+    /** Historical events applied by this page. */
+    events: readonly Event[]
+  }
+
+  /** Serializable historical replay state. */
+  type Checkpoint = {
+    /** Recipient whose registration-ordered deposit page was last applied. */
+    allocationRecipient?: Address | undefined
+    /** Replayed account projections before campaign cap allocation. */
+    accounts: readonly Campaigns.AccountSnapshot[]
+    /** Remaining FIFO-consumed shares while allocating surviving deposits. */
+    consumedEarnShares?: Readonly<Record<string, string>> | undefined
+    /** Final event included in this pass. */
+    cursor?: Campaigns.EventCursor | undefined
+    /** Gross deposited shares keyed by normalized recipient. */
+    depositedEarnShares: Readonly<Record<string, string>>
+    /** Historical reducer pass. */
+    pass: 'allocation' | 'survival'
+    /** Final canonical event applied by the survival pass. */
+    replayedThrough?: Campaigns.EventCursor | undefined
+  }
+
+  /** Inputs for registration reconciliation over canonical event pages. */
+  type Options = Omit<reconcileRegistrations.Options, 'events'> & {
+    /** Previously persisted replay state. */
+    checkpoint?: Checkpoint | undefined
+    /** Persists replay state after one complete canonical page. */
+    checkpointState?: ((state: Checkpoint) => Promise<void> | void) | undefined
+    /** Recreates historical pages in the ordering required by each pass. */
+    pages: (pass: Checkpoint['pass'], after?: Campaigns.EventCursor) => AsyncIterable<Page>
+  }
+}
+
+/** Rebuilds deposit-derived state for new or refreshed eligibility registrations. */
+export function reconcileRegistrations(
+  options: reconcileRegistrations.Options,
+): reconcileRegistrations.Result {
+  const accounts = new Map(
+    options.accounts.map((account) => [account.recipient.toLowerCase(), account]),
+  )
+  const pending = new Map(
+    options.eligible
+      .filter((entry) => {
+        const account = accounts.get(entry.recipient.toLowerCase())
+        return account?.eligibilityRegisteredAt !== entry.registeredAt
+      })
+      .map((entry) => [entry.recipient.toLowerCase(), entry]),
+  )
+  if (pending.size === 0) return { accounts: options.accounts, reconciled: false }
+  // Principal allocation is permanent. Refresh only zero-state accounts so replays cannot reorder cap already committed to healthy accounts.
+  const replay = new Map(
+    [...pending].filter(([recipient]) => {
+      const account = accounts.get(recipient)
+      return (
+        !account ||
+        (account.allocatedPrincipalAssets === 0n &&
+          account.lots.length === 0 &&
+          account.qualifiedEarnShares === 0n)
+      )
+    }),
+  )
+  const retained = options.accounts.filter(
+    (account) => !replay.has(account.recipient.toLowerCase()),
+  )
+  const remainingCap =
+    options.totalPrincipalCapAssets -
+    retained.reduce((sum, account) => sum + account.allocatedPrincipalAssets, 0n)
+  const initialized = bootstrap({
+    eligible: [...replay.values()].map((entry) => ({
+      recipient: entry.recipient,
+      registrationOrder: entry.registrationOrder,
+    })),
+    events: options.events,
+    excluded: options.excluded,
+    perUserPrincipalCapAssets: options.perUserPrincipalCapAssets,
+    principalAllocationOrder: options.principalAllocationOrder,
+    totalPrincipalCapAssets: remainingCap,
+  })
+  return {
+    accounts: [
+      ...retained.map((account) => {
+        const entry = pending.get(account.recipient.toLowerCase())
+        return entry ? { ...account, eligibilityRegisteredAt: entry.registeredAt } : account
+      }),
+      ...initialized.accounts.map((account) => {
+        const entry = pending.get(account.recipient.toLowerCase())!
+        const previous = accounts.get(account.recipient.toLowerCase())
+        return {
+          ...account,
+          accrualRemainder: previous?.accrualRemainder ?? 0n,
+          cumulativeEntitlement: previous?.cumulativeEntitlement ?? 0n,
+          cumulativePaid: previous?.cumulativePaid ?? 0n,
+          ...(previous?.deferral ? { deferral: previous.deferral } : {}),
+          eligibilityRegisteredAt: entry.registeredAt,
+          pendingRewardAssets: previous?.pendingRewardAssets ?? 0n,
+        }
+      }),
+    ].sort(compareAccounts),
+    reconciled: true,
+  }
+}
+
+export declare namespace reconcileRegistrations {
+  /** Inputs for registration-driven historical reconciliation. */
+  type Options = Omit<bootstrap.Options, 'eligible'> & {
+    /** Current delivered account projections. */
+    accounts: readonly Account[]
+    /** Eligibility registrations and their current durable versions. */
+    eligible: readonly {
+      /** Eligible reward recipient. */
+      recipient: Address
+      /** Monotonic eligibility registration order. */
+      registrationOrder: bigint
+      /** Registration version returned by the eligibility API. */
+      registeredAt: string
+    }[]
+  }
+
+  /** Reconciled accounts and whether any registration required replay. */
+  type Result = {
+    /** Current accounts with refreshed deposit-derived state. */
+    accounts: readonly Account[]
+    /** Whether at least one registration required reconciliation. */
+    reconciled: boolean
+  }
+}
+
+export declare namespace bootstrap {
+  /** Historical replay and cap-allocation input. */
+  type Options = Omit<apply.Options, 'accounts'> & {
+    /** Deposit order by default; registration order preserves late-registration cap priority. */
+    principalAllocationOrder?: 'deposit' | 'registration' | undefined
+  }
+}
+
+export declare namespace apply {
+  /** Projection input at one persisted cursor. */
+  type Options = {
+    /** Previously delivered account states. */
+    accounts: readonly Account[]
+    /** Registered recipients with stable order. */
+    eligible: readonly { recipient: Address; registrationOrder: bigint }[]
+    /** Canonically ordered public events. */
+    events: readonly Event[]
+    /** Addresses excluded from individual boost rewards. */
+    excluded: readonly Address[]
+    /** Per-recipient lifetime principal cap. */
+    perUserPrincipalCapAssets: bigint
+    /** Campaign lifetime principal cap. */
+    totalPrincipalCapAssets: bigint
+  }
+
+  /** Closing projection and permanently allocated campaign principal. */
+  type Result = {
+    /** Closing recipient projections. */
+    accounts: readonly Account[]
+    /** Total principal permanently allocated against the campaign cap. */
+    allocatedPrincipalAssets: bigint
+  }
+}
+
+/** Calculates time-weighted boost rewards for one interval. */
+export function calculate(options: calculate.Options): calculate.Result {
+  if (options.endsAt <= options.startsAt) throw new Error('reward interval is empty')
+  const accounts = new Map(
+    options.accounts.map((account) => [account.recipient.toLowerCase(), clone(account)]),
+  )
+  const eligible = new Map(
+    options.accounts.map((account) => [account.recipient.toLowerCase(), account.registrationOrder]),
+  )
+  const excluded = new Set(options.excluded.map((address) => address.toLowerCase()))
+  const weighted = new Map<string, bigint>()
+  const accruedThrough = new Map<string, number>()
+  let allocated = [...accounts.values()].reduce(
+    (sum, account) => sum + account.allocatedPrincipalAssets,
+    0n,
+  )
+  const events = [...options.events]
+    .filter((event) => event.timestamp >= options.startsAt && event.timestamp < options.endsAt)
+    .sort(compareEvents)
+  for (const event of events) {
+    for (const recipient of eventRecipients(event)) {
+      const account = accounts.get(recipient.toLowerCase())
+      if (account)
+        accumulateAccount(
+          weighted,
+          accruedThrough,
+          account,
+          excluded,
+          options.startsAt,
+          event.timestamp,
+        )
+    }
+    allocated = applyEvent(accounts, eligible, excluded, event, {
+      allocated,
+      perUserPrincipalCapAssets: options.perUserPrincipalCapAssets,
+      totalPrincipalCapAssets: options.totalPrincipalCapAssets,
+    })
+  }
+  for (const account of accounts.values())
+    accumulateAccount(weighted, accruedThrough, account, excluded, options.startsAt, options.endsAt)
+  const rewards = new Map<Address, bigint>()
+  const denominator = sharePriceScale * rateScale * secondsPerYear
+  for (const account of accounts.values()) {
+    const shareSeconds = weighted.get(account.recipient.toLowerCase()) ?? 0n
+    const numerator =
+      shareSeconds * options.assetPerEarnShareWad * BigInt(options.annualRateBps) +
+      account.accrualRemainder
+    const amount = numerator / denominator
+    account.accrualRemainder = numerator % denominator
+    account.pendingRewardAssets += amount
+    if (amount > 0n) rewards.set(account.recipient, amount)
+  }
+  return { accounts: [...accounts.values()].sort(compareAccounts), rewards }
+}
+
+export declare namespace calculate {
+  /** Time-weighted reward calculation input. */
+  type Options = {
+    /** Opening base assets per EarnShare, scaled by 1e18. */
+    assetPerEarnShareWad: bigint
+    /** Opening recipient projections. */
+    accounts: readonly Account[]
+    /** Incremental boost annual rate in basis points. */
+    annualRateBps: number
+    /** Exclusive interval end timestamp. */
+    endsAt: number
+    /** Public events within the interval. */
+    events: readonly Event[]
+    /** Addresses excluded from individual rewards. */
+    excluded: readonly Address[]
+    /** Per-recipient lifetime principal cap. */
+    perUserPrincipalCapAssets: bigint
+    /** Inclusive interval start timestamp. */
+    startsAt: number
+    /** Campaign lifetime principal cap. */
+    totalPrincipalCapAssets: bigint
+  }
+
+  /** Closing projections and newly accrued base-asset rewards. */
+  type Result = {
+    /** Closing recipient projections. */
+    accounts: readonly Account[]
+    /** Newly accrued base-asset rewards by recipient. */
+    rewards: ReadonlyMap<Address, bigint>
+  }
+}
+
+/** Calculates one reward interval pagewise and checkpoints exact arithmetic state. */
+export async function calculatePages(options: calculatePages.Options): Promise<calculate.Result> {
+  if (options.endsAt <= options.startsAt) throw new Error('reward interval is empty')
+  const accounts = new Map(
+    (options.checkpoint?.accounts.map(fromSnapshot) ?? options.accounts.map(clone)).map(
+      (account) => [account.recipient.toLowerCase(), account],
+    ),
+  )
+  const eligible = new Map(
+    options.accounts.map((account) => [account.recipient.toLowerCase(), account.registrationOrder]),
+  )
+  const excluded = new Set(options.excluded.map((address) => address.toLowerCase()))
+  const accruedThrough = new Map<string, number>(
+    Object.entries(options.checkpoint?.accruedThrough ?? {}),
+  )
+  const weighted = new Map<string, bigint>(
+    Object.entries(options.checkpoint?.weightedEarnShareSeconds ?? {}).map(([recipient, value]) => [
+      recipient,
+      BigInt(value),
+    ]),
+  )
+  let allocated = [...accounts.values()].reduce(
+    (sum, account) => sum + account.allocatedPrincipalAssets,
+    0n,
+  )
+  for await (const page of options.pages) {
+    const events = [...page]
+      .filter((event) => event.timestamp >= options.startsAt && event.timestamp < options.endsAt)
+      .sort(compareEvents)
+    for (const event of events) {
+      for (const recipient of eventRecipients(event)) {
+        const account = accounts.get(recipient.toLowerCase())
+        if (account)
+          accumulateAccount(
+            weighted,
+            accruedThrough,
+            account,
+            excluded,
+            options.startsAt,
+            event.timestamp,
+          )
+      }
+      allocated = applyEvent(accounts, eligible, excluded, event, {
+        allocated,
+        perUserPrincipalCapAssets: options.perUserPrincipalCapAssets,
+        totalPrincipalCapAssets: options.totalPrincipalCapAssets,
+      })
+    }
+    const cursor = page.at(-1)?.cursor
+    if (cursor)
+      await options.checkpointState?.(
+        {
+          accounts: [...accounts.values()].sort(compareAccounts).map(snapshot),
+          accruedThrough: Object.fromEntries(accruedThrough),
+          weightedEarnShareSeconds: Object.fromEntries(
+            [...weighted].map(([recipient, value]) => [recipient, value.toString()]),
+          ),
+        },
+        cursor,
+      )
+  }
+  for (const account of accounts.values())
+    accumulateAccount(weighted, accruedThrough, account, excluded, options.startsAt, options.endsAt)
+  const rewards = new Map<Address, bigint>()
+  const denominator = sharePriceScale * rateScale * secondsPerYear
+  for (const account of accounts.values()) {
+    const shareSeconds = weighted.get(account.recipient.toLowerCase()) ?? 0n
+    const numerator =
+      shareSeconds * options.assetPerEarnShareWad * BigInt(options.annualRateBps) +
+      account.accrualRemainder
+    const amount = numerator / denominator
+    account.accrualRemainder = numerator % denominator
+    account.pendingRewardAssets += amount
+    if (amount > 0n) rewards.set(account.recipient, amount)
+  }
+  return { accounts: [...accounts.values()].sort(compareAccounts), rewards }
+}
+
+export declare namespace calculatePages {
+  /** Serializable interval reducer state before reward finalization. */
+  type Checkpoint = {
+    /** Account projections after the checkpointed page. */
+    accounts: readonly Campaigns.AccountSnapshot[]
+    /** Last accrued timestamp keyed by normalized recipient. */
+    accruedThrough: Readonly<Record<string, number>>
+    /** Weighted EarnShare seconds keyed by normalized recipient. */
+    weightedEarnShareSeconds: Readonly<Record<string, string>>
+  }
+
+  /** Inputs for reward calculation over canonical event pages. */
+  type Options = Omit<calculate.Options, 'events'> & {
+    /** Previously persisted interval reducer state. */
+    checkpoint?: Checkpoint | undefined
+    /** Persists reducer state after one complete canonical page. */
+    checkpointState?:
+      | ((state: Checkpoint, cursor: Campaigns.EventCursor) => Promise<void> | void)
+      | undefined
+    /** Canonical event pages beginning after the persisted cursor. */
+    pages: AsyncIterable<readonly Event[]>
+  }
+}
+
+/** Converts a database account into the arithmetic projection. */
+export function fromRecord(record: fromRecord.Record): Account {
+  return {
+    accrualRemainder: BigInt(record.accrualRemainder),
+    allocatedPrincipalAssets: BigInt(record.allocatedPrincipalAssets),
+    cumulativeEntitlement: BigInt(record.cumulativeEntitlement),
+    cumulativePaid: BigInt(record.cumulativePaid),
+    ...(record.deferral ? { deferral: record.deferral } : {}),
+    ...(record.eligibilityRegisteredAt
+      ? { eligibilityRegisteredAt: record.eligibilityRegisteredAt }
+      : {}),
+    lots: [],
+    pendingRewardAssets: BigInt(record.pendingRewardAssets),
+    publicEarnShares: BigInt(record.publicEarnShares),
+    qualifiedEarnShares: BigInt(record.qualifiedEarnShares),
+    recipient: getAddress(record.recipient),
+    registrationOrder: BigInt(record.registrationOrder),
+  }
+}
+
+export declare namespace fromRecord {
+  /** Persisted account fields consumed by the projection. */
+  type Record = {
+    accrualRemainder: string
+    allocatedPrincipalAssets: string
+    cumulativeEntitlement: string
+    cumulativePaid: string
+    deferral: string | null
+    eligibilityRegisteredAt: string | null
+    lots: readonly Campaigns.DepositLot[]
+    pendingRewardAssets: string
+    publicEarnShares: string
+    qualifiedEarnShares: string
+    recipient: Address
+    registrationOrder: string
+  }
+}
+
+function account(
+  accounts: Map<string, Account>,
+  eligible: ReadonlyMap<string, bigint>,
+  excluded: ReadonlySet<string>,
+  address: Address,
+): Account | undefined {
+  const key = address.toLowerCase()
+  if (excluded.has(key)) return undefined
+  const order = eligible.get(key)
+  if (order === undefined) return undefined
+  const existing = accounts.get(key)
+  if (existing) return existing
+  const created: Account = {
+    accrualRemainder: 0n,
+    allocatedPrincipalAssets: 0n,
+    cumulativeEntitlement: 0n,
+    cumulativePaid: 0n,
+    lots: [],
+    pendingRewardAssets: 0n,
+    publicEarnShares: 0n,
+    qualifiedEarnShares: 0n,
+    recipient: getAddress(address),
+    registrationOrder: order,
+  }
+  accounts.set(key, created)
+  return created
+}
+
+function accumulateAccount(
+  weighted: Map<string, bigint>,
+  accruedThrough: Map<string, number>,
+  account: Account,
+  excluded: ReadonlySet<string>,
+  startsAt: number,
+  through: number,
+) {
+  const key = account.recipient.toLowerCase()
+  const previous = accruedThrough.get(key) ?? startsAt
+  const seconds = through - previous
+  if (seconds < 0) throw new Error('reward events are not time ordered')
+  if (!excluded.has(key)) {
+    const balance = minimum(account.publicEarnShares, account.qualifiedEarnShares)
+    weighted.set(key, (weighted.get(key) ?? 0n) + balance * BigInt(seconds))
+  }
+  accruedThrough.set(key, through)
+}
+
+function eventRecipients(event: Event): readonly Address[] {
+  if (event.kind === 'deposit') return [event.recipient]
+  if (event.from.toLowerCase() === event.to.toLowerCase()) return [event.from]
+  return [event.from, event.to]
+}
+
+function applyEvent(
+  accounts: Map<string, Account>,
+  eligible: ReadonlyMap<string, bigint>,
+  excluded: ReadonlySet<string>,
+  event: Event,
+  caps: {
+    allocated: bigint
+    perUserPrincipalCapAssets: bigint
+    totalPrincipalCapAssets: bigint
+  },
+): bigint {
+  if (event.kind === 'deposit') {
+    const recipient = account(accounts, eligible, excluded, event.recipient)
+    if (!recipient || event.assets === 0n || event.earnShares === 0n) return caps.allocated
+    const allocatedAssets = minimum(
+      event.assets,
+      maximum(caps.perUserPrincipalCapAssets - recipient.allocatedPrincipalAssets, 0n),
+      maximum(caps.totalPrincipalCapAssets - caps.allocated, 0n),
+    )
+    if (allocatedAssets === 0n) return caps.allocated
+    const qualifiedShares = (event.earnShares * allocatedAssets) / event.assets
+    if (qualifiedShares === 0n) return caps.allocated
+    recipient.allocatedPrincipalAssets += allocatedAssets
+    recipient.qualifiedEarnShares += qualifiedShares
+    return caps.allocated + allocatedAssets
+  }
+  if (sameAddress(event.from, event.to)) return caps.allocated
+  if (event.from.toLowerCase() !== zeroAddress) {
+    const sender = accounts.get(event.from.toLowerCase())
+    if (sender) send(sender, event.amount)
+  }
+  if (event.to.toLowerCase() !== zeroAddress) {
+    const recipient = account(accounts, eligible, excluded, event.to)
+    if (recipient) recipient.publicEarnShares += event.amount
+  }
+  return caps.allocated
+}
+
+function send(account: Account, amount: bigint): void {
+  account.publicEarnShares = maximum(account.publicEarnShares - amount, 0n)
+  account.qualifiedEarnShares = maximum(account.qualifiedEarnShares - amount, 0n)
+}
+
+function sendLots(account: Account, amount: bigint): void {
+  account.publicEarnShares = maximum(account.publicEarnShares - amount, 0n)
+  let remaining = amount
+  for (const lot of account.lots) {
+    if (remaining === 0n) break
+    const shares = BigInt(lot.remainingEarnShares)
+    const consumed = minimum(shares, remaining)
+    lot.remainingEarnShares = (shares - consumed).toString()
+    account.qualifiedEarnShares -= consumed
+    remaining -= consumed
+  }
+}
+
+function sameAddress(left: Address, right: Address): boolean {
+  return left.toLowerCase() === right.toLowerCase()
+}
+
+function clone(account: Account): Account {
+  return { ...account, lots: account.lots.map((lot) => ({ ...lot, event: { ...lot.event } })) }
+}
+
+function compareAccounts(left: Account, right: Account): number {
+  return left.registrationOrder < right.registrationOrder
+    ? -1
+    : left.registrationOrder > right.registrationOrder
+      ? 1
+      : left.recipient.toLowerCase().localeCompare(right.recipient.toLowerCase())
+}
+
+function compareEvents(left: Event, right: Event): number {
+  return compareCursors(left.cursor, right.cursor)
+}
+
+function compareCursors(left: Campaigns.EventCursor, right: Campaigns.EventCursor): number {
+  return (
+    left.blockNumber - right.blockNumber ||
+    left.transactionIndex - right.transactionIndex ||
+    left.logIndex - right.logIndex
+  )
+}
+
+function maximum(left: bigint, right: bigint): bigint {
+  return left > right ? left : right
+}
+
+function minimum(...values: readonly bigint[]): bigint {
+  return values.reduce((result, value) => (value < result ? value : result))
+}