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156 changes: 156 additions & 0 deletions src/adaptors/mezo-vaults/index.js
Original file line number Diff line number Diff line change
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const sdk = require('@defillama/sdk');
const utils = require('../utils');

const CHAIN = 'mezo';
const PROJECT = 'mezo-vaults';
const URL = 'https://mezo.org/earn/vaults';

const VAULT = '0xb4D498029af77680cD1eF828b967f010d06C51CC';
const STRATEGY = '0x0C0944713c185ea3e64F5609ECee3fB3C054a295';
const GAUGE = '0x677817bF3e44b90E8F95222F75e2950b7904a401';
const MUSD = '0xdD468A1DDc392dcdbEf6db6e34E89AA338F9F186';

const SECONDS_PER_BLOCK = 2;
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const SECONDS_PER_DAY = 86400;
const SECONDS_PER_YEAR = 365 * SECONDS_PER_DAY;
const YIELD_INDEX_SCALE = 1e18;
const TOKEN_DECIMALS = 18;
const LOOKBACK_WINDOWS_DAYS = [7, 3];

const weiToNumber = (wei) => Number(wei) / 10 ** TOKEN_DECIMALS;

const viewAbi = (name, outType) => ({
inputs: [],
name,
outputs: [{ type: outType }],
stateMutability: 'view',
type: 'function',
});

const yieldIndexAbi = viewAbi('yieldIndex', 'uint256');

const computeBaseApr = async (currentIndex, latestBlock) => {
for (const days of LOOKBACK_WINDOWS_DAYS) {
const olderBlock =
latestBlock - Math.floor((SECONDS_PER_DAY * days) / SECONDS_PER_BLOCK);
try {
const res = await sdk.api.abi.call({
target: VAULT,
abi: yieldIndexAbi,
chain: CHAIN,
block: olderBlock,
});
const oldIndex = Number(res.output);
if (oldIndex > 0 && currentIndex > oldIndex) {
const yieldPerShare = (currentIndex - oldIndex) / YIELD_INDEX_SCALE;
return yieldPerShare * (365 / days) * 100;
}
} catch {}
}
return null;
};

const getApy = async () => {
const [
yieldIndexRes,
vaultBalRes,
strategyBalRes,
vaultSupplyRes,
gaugeStakedRes,
rewardTokenRes,
rewardRateRes,
periodFinishRes,
latestBlock,
] = await Promise.all([
sdk.api.abi.call({ target: VAULT, abi: yieldIndexAbi, chain: CHAIN }),
sdk.api.erc20.balanceOf({ target: MUSD, owner: VAULT, chain: CHAIN }),
sdk.api.erc20.balanceOf({ target: MUSD, owner: STRATEGY, chain: CHAIN }),
sdk.api.erc20.totalSupply({ target: VAULT, chain: CHAIN }),
sdk.api.abi.call({
target: GAUGE,
abi: viewAbi('totalSupply', 'uint256'),
chain: CHAIN,
}),
sdk.api.abi.call({
target: GAUGE,
abi: viewAbi('rewardToken', 'address'),
chain: CHAIN,
}),
sdk.api.abi.call({
target: GAUGE,
abi: viewAbi('rewardRate', 'uint256'),
chain: CHAIN,
}),
sdk.api.abi.call({
target: GAUGE,
abi: viewAbi('periodFinish', 'uint256'),
chain: CHAIN,
}),
sdk.api.util.getLatestBlock(CHAIN),
]);

const rewardToken = rewardTokenRes.output;
const priceData = await utils.getPrices([MUSD, rewardToken], CHAIN);
const musdPrice = priceData.pricesByAddress[MUSD.toLowerCase()] ?? 1;
const rewardPrice = priceData.pricesByAddress[rewardToken.toLowerCase()] ?? 0;

const totalAssetsWei =
BigInt(vaultBalRes.output) + BigInt(strategyBalRes.output);
const totalSupplyWei = BigInt(vaultSupplyRes.output);
const gaugeStakedWei = BigInt(gaugeStakedRes.output);
const unstakedWei =
totalSupplyWei > gaugeStakedWei ? totalSupplyWei - gaugeStakedWei : 0n;

const allocateTvl = (shareWei) => {
if (totalSupplyWei === 0n) return 0;
const allocWei = (totalAssetsWei * shareWei) / totalSupplyWei;
return weiToNumber(allocWei) * musdPrice;
};

const currentIndex = Number(yieldIndexRes.output);
const apyBase = await computeBaseApr(currentIndex, latestBlock.number);

const stakedTvlUsd = allocateTvl(gaugeStakedWei);
const rewardRate = weiToNumber(BigInt(rewardRateRes.output));
const periodFinish = Number(periodFinishRes.output);
const isActive = periodFinish > Math.floor(Date.now() / 1000);
const annualRewardUsd = rewardRate * SECONDS_PER_YEAR * rewardPrice;
const apyReward =
isActive && stakedTvlUsd > 0 ? (annualRewardUsd / stakedTvlUsd) * 100 : 0;

const pools = [
{
pool: `${VAULT.toLowerCase()}-${CHAIN}}`,
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chain: utils.formatChain(CHAIN),
project: PROJECT,
symbol: 'sMUSD',
tvlUsd: allocateTvl(unstakedWei),
apyBase,
underlyingTokens: [MUSD],
pricePerShare: 1,
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url: URL,
},
{
pool: `${GAUGE.toLowerCase()}-${CHAIN}}`,
chain: utils.formatChain(CHAIN),
project: PROJECT,
symbol: 'sMUSD',
poolMeta: 'Staked in gauge',
tvlUsd: stakedTvlUsd,
apyBase: 0,
apyReward,
rewardTokens: [rewardToken],
underlyingTokens: [MUSD],
pricePerShare: 1,
url: URL,
},
];

return pools.filter(utils.keepFinite);
};

module.exports = {
timetravel: false,
apy: getApy,
url: URL,
};
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