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Discover Neverland markets from the on-chain registry #2960

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25 changes: 25 additions & 0 deletions src/adaptors/neverland/abi.js
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Original file line number Diff line number Diff line change
@@ -1,4 +1,29 @@
module.exports = {
poolAddressesProviderRegistryAbi: [
{
inputs: [],
name: 'getAddressesProvidersList',
outputs: [{ internalType: 'address[]', name: '', type: 'address[]' }],
stateMutability: 'view',
type: 'function',
},
],
poolAddressesProviderAbi: [
{
inputs: [],
name: 'getMarketId',
outputs: [{ internalType: 'string', name: '', type: 'string' }],
stateMutability: 'view',
type: 'function',
},
{
inputs: [],
name: 'getPoolDataProvider',
outputs: [{ internalType: 'address', name: '', type: 'address' }],
stateMutability: 'view',
type: 'function',
},
],
dustRewardsControllerAbi: [
{
inputs: [{ internalType: 'address', name: 'asset', type: 'address' }],
Expand Down
178 changes: 123 additions & 55 deletions src/adaptors/neverland/index.js
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Original file line number Diff line number Diff line change
Expand Up @@ -4,6 +4,8 @@ const utils = require('../utils');
const { addMerklRewardApy } = require('../merkl/merkl-additional-reward');
const poolAbi = require('../aave-v3/poolAbi');
const {
poolAddressesProviderRegistryAbi,
poolAddressesProviderAbi,
dustRewardsControllerAbi,
dustLockAbi,
revenueRewardAbi,
Expand All @@ -21,28 +23,13 @@ const SECONDS_PER_YEAR = 365.25 * 24 * 60 * 60;
const WEEK = 7 * 24 * 60 * 60;
const WEEKS_PER_YEAR = 52;

// Shared singletons. The isolated markets deliberately reuse the canonical
// DustRewardsController, so one address covers every market listed below.
const ZERO_ADDRESS = '0x0000000000000000000000000000000000000000';

// Shared singletons. Every registered market uses the same rewards controller.
const rewardsController = '0x57ea245cCbFAb074baBb9d01d1F0c60525E52cec';
const dustLock = '0xBB4738D05AD1b3Da57a4881baE62Ce9bb1eEeD6C';
const revenueReward = '0xff20ac10eb808B1e31F5CfCa58D80eDE2Ba71c43';

// Canonical and isolated markets have independent providers and reserve sets.
// Isolated providers are not registered on-chain, so enumerate them explicitly.
const markets = [
{
name: 'Neverland Cross Market',
protocolDataProvider: '0xfd0b6b6F736376F7B99ee989c749007c7757fDba',
poolMeta: null,
getUrl: (symbol) => `${APP_URL}/markets?asset=${symbol}`,
},
{
name: 'Neverland Pendle AUSD Isolated Market',
protocolDataProvider: '0xeEb78818C026A3c1b82804627d101e27Ce5E60CB',
poolMeta: 'Pendle AUSD Isolated',
getUrl: () => `${APP_URL}/isolated`,
},
];
const addressesProviderRegistry = '0xD0CCDe10CAcd12f1c839Db6400B82a82ab90fa9B';

const priceKey = (address) => `${CHAIN}:${address}`;
const uniq = (values) => [...new Set(values.filter(Boolean))];
Expand All @@ -56,12 +43,66 @@ const call = async (target, abi, params) =>
(await sdk.api.abi.call({ chain: CHAIN, target, abi, params })).output;

// Skip empty batches: rewardless markets legitimately produce them.
const multiCall = async (abi, calls) =>
const multiCall = async (abi, calls, permitFailure = false) =>
calls.length === 0
? []
: (await sdk.api.abi.multiCall({ chain: CHAIN, abi, calls })).output.map(
(o) => o.output
);
: (
await sdk.api.abi.multiCall({ chain: CHAIN, abi, calls, permitFailure })
).output.map((o) => o.output);

// Market IDs are display metadata; an isolated suffix also identifies its URL.
const getMarketUrl = (marketId, symbol) => {
const isolatedName = String(marketId).match(
/^Neverland Isolated\s+(.+)$/i
)?.[1];
if (!isolatedName) {
return `${APP_URL}/markets?asset=${encodeURIComponent(symbol)}`;
}

const route = isolatedName
.toLowerCase()
.replace(/[^a-z0-9]+/g, '-')
.replace(/^-+|-+$/g, '');
return `${APP_URL}/isolated/${route}`;
};

const getMarkets = async () => {
const addressesProviders = uniq(
await call(
addressesProviderRegistry,
findAbi(poolAddressesProviderRegistryAbi, 'getAddressesProvidersList')
)
).filter((provider) => provider !== ZERO_ADDRESS);

const [marketIds, protocolDataProviders] = await Promise.all(
['getMarketId', 'getPoolDataProvider'].map((name) =>
multiCall(
findAbi(poolAddressesProviderAbi, name),
addressesProviders.map((target) => ({ target })),
true
)
)
);

const markets = addressesProviders
.map((_, i) => ({
marketId: marketIds[i],
protocolDataProvider: protocolDataProviders[i],
}))
.filter(
({ marketId, protocolDataProvider }) =>
typeof marketId === 'string' &&
marketId.trim() &&
protocolDataProvider &&
protocolDataProvider !== ZERO_ADDRESS
);

if (markets.length === 0) {
throw new Error('No Neverland markets resolved');
}

return markets;
};

// a single PoolDataProvider view, fetched once per reserve of a market
const byReserve = (protocolDataProvider, abiName, reserveTokens) =>
Expand All @@ -76,7 +117,8 @@ const byReserve = (protocolDataProvider, abiName, reserveTokens) =>
const getDecimals = async (tokens) => {
const decimals = await multiCall(
'erc20:decimals',
tokens.map((target) => ({ target }))
tokens.map((target) => ({ target })),
true
);
return Object.fromEntries(tokens.map((t, i) => [t, decimals[i]]));
};
Expand Down Expand Up @@ -136,21 +178,30 @@ const emissionRewardTokens = (emissions, timestamp) =>
)
);

// Accept raw streams; expired or incomplete streams contribute zero.
// `undefined` means unresolved; `null` means no on-chain stream before Merkl merging.
const rewardApy = (emissions, rewardDecimals, prices, baseUsd, timestamp) => {
if (!(baseUsd > 0)) return 0;
return liveEmissions(emissions, timestamp).reduce(
(acc, { rewardToken, emissionPerSecond }) => {
const emission = Number(emissionPerSecond);
const rewardPrice = prices[priceKey(rewardToken)]?.price;
const decimals = rewardDecimals[rewardToken];
if (!(emission > 0) || !rewardPrice || !decimals) return acc;
const emissionUsdPerYear =
(emission / 10 ** decimals) * SECONDS_PER_YEAR * rewardPrice;
return acc + (emissionUsdPerYear / baseUsd) * 100;
},
0
const liveRewards = liveEmissions(emissions, timestamp);
const positiveRewards = liveRewards.filter(
({ emissionPerSecond }) => Number(emissionPerSecond) > 0
);
if (positiveRewards.length === 0) return 0;
if (!(baseUsd > 0)) return undefined;

const incomplete = positiveRewards.some(
({ rewardToken }) =>
prices[priceKey(rewardToken)]?.price == null ||
rewardDecimals[rewardToken] == null
);
if (incomplete) return undefined;

return positiveRewards.reduce((acc, { rewardToken, emissionPerSecond }) => {
const emission = Number(emissionPerSecond);
const rewardPrice = prices[priceKey(rewardToken)].price;
const decimals = rewardDecimals[rewardToken];
const emissionUsdPerYear =
(emission / 10 ** decimals) * SECONDS_PER_YEAR * rewardPrice;
return acc + (emissionUsdPerYear / baseUsd) * 100;
}, 0);
};

// Token-level reads are staged after reserve addresses are known.
Expand Down Expand Up @@ -252,7 +303,7 @@ const buildMarketPools = (market, data, prices, rewardDecimals, timestamp) =>
chain: utils.formatChain(CHAIN),
project: PROJECT,
symbol: reserve.symbol,
...(market.poolMeta && { poolMeta: market.poolMeta }),
poolMeta: market.marketId,
tvlUsd,
apyBase: rayToPct(reserveData.liquidityRate),
apyReward: supplyEmissions
Expand Down Expand Up @@ -284,7 +335,7 @@ const buildMarketPools = (market, data, prices, rewardDecimals, timestamp) =>
)
: null,
ltv: Number(config.ltv) / 10000,
url: market.getUrl(reserve.symbol),
url: getMarketUrl(market.marketId, reserve.symbol),
borrowable: config.borrowingEnabled,
borrowToken: reserve.tokenAddress,
// Collateral in one market cannot back debt in another, so borrow
Expand Down Expand Up @@ -345,12 +396,20 @@ const buildVeDustPool = (data, prices, rewardDecimals) => {
// Voting power decays independently of locked DUST; guard the denominator.
if (!(tvlUsd > 0) || !(veDustPowerUsd > 0)) return null;

const incomplete = data.rewardTokens.some(
(rewardToken, i) =>
Number(data.epochRewards[i]) > 0 &&
(prices[priceKey(rewardToken)]?.price == null ||
rewardDecimals[rewardToken] == null)
);
if (incomplete) return null;

// Revenue accrues to voting power, not locked principal.
const apyReward = data.rewardTokens.reduce((acc, rewardToken, i) => {
const rewardPrice = prices[priceKey(rewardToken)]?.price;
const decimals = rewardDecimals[rewardToken];
const weeklyRewards = Number(data.epochRewards[i]);
if (!rewardPrice || !decimals || !(weeklyRewards > 0)) return acc;
if (!(weeklyRewards > 0)) return acc;
const rewardPrice = prices[priceKey(rewardToken)].price;
const decimals = rewardDecimals[rewardToken];
const annualRewardsUsd =
(weeklyRewards / 10 ** decimals) * rewardPrice * WEEKS_PER_YEAR;
return acc + (annualRewardsUsd / veDustPowerUsd) * 100;
Expand All @@ -376,16 +435,19 @@ const getMarketDataSafe = async (market) => {
try {
return { market, data: await getMarketData(market) };
} catch (error) {
console.error(`Error loading ${market.name}:`, error.message);
console.error(`Error loading ${market.marketId}:`, error.message);
return null;
}
};

const addApy = (baseApy, extraApy) =>
extraApy > 0 ? (baseApy || 0) + extraApy : baseApy;
const addApy = (baseApy, extraApy) => {
if (baseApy === undefined) return null;
return extraApy > 0 ? (baseApy ?? 0) + extraApy : baseApy;
};

// Preserve schema: veDUST has no borrow side; lending may report null APY.
const hasBorrowApy = (pool) => pool.apyRewardBorrow !== undefined;
const hasBorrowApy = (pool) =>
Object.prototype.hasOwnProperty.call(pool, 'apyRewardBorrow');

// The helper fills empty reward fields and normalizes target-APR campaigns.
// Blank them, run the helper, then add back on-chain APYs. On Merkl failure,
Expand Down Expand Up @@ -422,13 +484,16 @@ const addMerklRewards = async (pools) => {
const apy = async () => {
// Market providers and veDUST are independent, so resolve them concurrently.
const [marketResults, veDustPool] = await Promise.all([
Promise.all(markets.map(getMarketDataSafe)),
getMarkets().then((markets) => Promise.all(markets.map(getMarketDataSafe))),
getVeDustPool(),
]);
const marketsData = marketResults.filter(Boolean);
if (marketsData.length === 0) {
throw new Error('No Neverland market data resolved');
}

// Use one timestamp for token discovery and pool output.
const rewardTimestamp = Math.floor(Date.now() / 1000);

const rewardTokens = uniq(
marketsData.flatMap(({ data }) =>
emissionRewardTokens(data.emissions, rewardTimestamp)
Expand All @@ -449,14 +514,17 @@ const apy = async () => {
getDecimals(rewardTokens),
]);

const pools = [
...marketsData.flatMap(({ market, data }) =>
buildMarketPools(market, data, prices, rewardDecimals, rewardTimestamp)
),
...(veDustPool ? [veDustPool] : []),
].filter(Boolean);
const lendingPools = marketsData.flatMap(({ market, data }) =>
buildMarketPools(market, data, prices, rewardDecimals, rewardTimestamp)
);
if (lendingPools.length === 0) {
throw new Error('No Neverland lending pools built');
}

return addMerklRewards(pools);
return addMerklRewards([
...lendingPools,
...(veDustPool ? [veDustPool] : []),
]);
};

module.exports = {
Expand Down
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