MorphoV2 plugins

common/configuration.ts

@@ -119,6 +119,16 @@ export interface ITokens {
   Re7WETH?: string
   meUSD?: string
 
+  // Morpho Vault V2
+  steakUSDCPrime?: string
+  sentoraPYUSD?: string
+  gauntletUSDCFrontier?: string
+  steakUSDTPrime?: string
+  galaxyUSDTQuality?: string
+  gauntletUSDCPrime?: string
+  galaxyUSDCQuality?: string
+  skyUSDTSavings?: string
+
   pxETH?: string
   apxETH?: string
 
@@ -325,6 +335,14 @@ export const networkConfig: { [key: string]: INetworkConfig } = {
       steakPYUSD: '0xbEEF02e5E13584ab96848af90261f0C8Ee04722a',
       bbUSDT: '0x2C25f6C25770fFEC5959D34B94Bf898865e5D6b1',
       Re7WETH: '0x78Fc2c2eD1A4cDb5402365934aE5648aDAd094d0',
+      steakUSDCPrime: '0xbeef088055857739C12CD3765F20b7679Def0f51',
+      sentoraPYUSD: '0xC21b08C16458202593D4D9B26b9984Ee67b38BbD',
+      gauntletUSDCFrontier: '0x9a1D6bd5b8642C41F25e0958129B85f8E1176F3e',
+      steakUSDTPrime: '0xbeef003C68896c7D2c3c60d363e8d71a49Ab2bf9',
+      galaxyUSDTQuality: '0x71ffB6a81786eC285D429d531Cf655107B9D878d',
+      gauntletUSDCPrime: '0x8c106EEDAd96553e64287A5A6839c3Cc78afA3D0',
+      galaxyUSDCQuality: '0x91600E31fBeDc72433d4a57F16639cfe661Be7d8',
+      skyUSDTSavings: '0x23f5E9c35820f4baB695Ac1F19c203cC3f8e1e11',
       sdUSDCUSDCPlus: '0x9bbF31E99F30c38a5003952206C31EEa77540BeF',
       USDe: '0x4c9edd5852cd905f086c759e8383e09bff1e68b3',
       sUSDe: '0x9D39A5DE30e57443BfF2A8307A4256c8797A3497',

contracts/plugins/assets/meta-morpho/MetaMorphoFiatCollateral.sol

@@ -15,6 +15,11 @@ import { ERC4626FiatCollateral } from "../ERC4626FiatCollateral.sol";
  * by anyone, on behalf of the RToken's Backing Manager address.
  * For more information:  https://docs.morpho.org/rewards/tutorials/claim-rewards/
  *
+ * @dev Morpho Vault V2 compatibility
+ *      This plugin is reused as-is for Morpho Vault V2 vaults (e.g. Steakhouse Prime USDC,
+ *      Gauntlet USDC Prime, Galaxy/Sentora/Sky vaults). V2 preserves the exact ERC-4626 surface
+ *      this plugin relies on, and the V2-specific deviations were checked on-chain to be benign:
+ *
  */
 contract MetaMorphoFiatCollateral is ERC4626FiatCollateral {
     /// config.erc20 must be a MetaMorpho ERC4626 vault

contracts/plugins/assets/meta-morpho/README.md

@@ -39,6 +39,32 @@ It is important to note that in the case of Rtokens, rewards will need to be cla
 | -------- | ------- | ------------------------------------------ | --------------------------- |
 | Re7 WETH | Re7WETH | 0x78Fc2c2eD1A4cDb5402365934aE5648aDAd094d0 | USDC, SWISE, BTRFLY, MORPHO |
 
+## Morpho Vault V2
+
+The same `MetaMorphoFiatCollateral` / `MetaMorphoSelfReferentialCollateral` contracts are reused, unchanged, for [Morpho Vault V2](https://docs.morpho.org/learn/concepts/vault-v2/) vaults. V2 keeps the exact ERC-4626 surface these plugins depend on (`convertToAssets`, `asset`, `decimals`), so `underlyingRefPerTok()` is correct without modification. The V2-specific deviations were checked on-chain and found benign:
+
+| Check               | Result                                                                                                                                                                                                               |
+| ------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
+| **ERC-4626 / 2612** | Compliant. 18-decimal share over a 6-decimal asset; `convertToAssets` accounts for fees.                                                                                                                             |
+| **Gates**           | V2 adds optional transfer/deposit/withdraw gate contracts. A share-transfer gate would block the protocol from holding/trading the collateral. **Every target vault must have all four gates unset (`address(0)`).** |
+| **`max*` quirk**    | V2 `maxDeposit`/`maxMint`/`maxWithdraw`/`maxRedeem` always return 0. Harmless: the protocol holds and trades the share token and never calls `vault.redeem()`.                                                       |
+| **Fees & losses**   | Performance/management fees and adapter losses flow through `convertToAssets`. Routine fee dips are absorbed by `revenueHiding`; a genuine loss correctly DISABLES the collateral.                                   |
+
+Mainnet vaults validated against the live chain (all gates unset; fees 0 except Sentora PYUSD at 15% performance fee):
+
+| Name                   | Symbol              | Address                                      | Asset |
+| ---------------------- | ------------------- | -------------------------------------------- | ----- |
+| Steakhouse Prime USDC  | steakUSDC           | `0xbeef088055857739C12CD3765F20b7679Def0f51` | USDC  |
+| Sentora PYUSD Main     | senPYUSDPRIMEv2     | `0xC21b08C16458202593D4D9B26b9984Ee67b38BbD` | PYUSD |
+| Gauntlet USDC Frontier | gtusdcf             | `0x9a1D6bd5b8642C41F25e0958129B85f8E1176F3e` | USDC  |
+| Steakhouse Prime USDT  | steakUSDT           | `0xbeef003C68896c7D2c3c60d363e8d71a49Ab2bf9` | USDT  |
+| Galaxy USDT Quality    | gUSDTq              | `0x71ffB6a81786eC285D429d531Cf655107B9D878d` | USDT  |
+| Gauntlet USDC Prime    | gtusdcp             | `0x8c106EEDAd96553e64287A5A6839c3Cc78afA3D0` | USDC  |
+| Galaxy USDC Quality    | gUSDCq              | `0x91600E31fBeDc72433d4a57F16639cfe661Be7d8` | USDC  |
+| Sky.money USDT Savings | skyMoneyUsdtSavings | `0x23f5E9c35820f4baB695Ac1F19c203cC3f8e1e11` | USDT  |
+
+Reward claiming is unchanged from V1 (off-chain Merkle claim on behalf of the Backing Manager).
+
 ## Future Work
 
 - Assets need to exist for each of the Reward Tokens, which requires oracles. Only USDC meets this bar; SWISE, BTRFLY, and MORPHO do not have oracles yet.

scripts/deploy.ts

@@ -88,6 +88,7 @@ async function main() {
       'phase2-assets/collaterals/deploy_steakpyusd.ts',
       'phase2-assets/collaterals/deploy_bbusdt.ts',
       'phase2-assets/collaterals/deploy_re7weth.ts',
+      'phase2-assets/collaterals/deploy_morpho_v2_vaults.ts',
       'phase2-assets/collaterals/deploy_ethx_collateral.ts',
       'phase2-assets/collaterals/deploy_apxeth.ts',
       'phase2-assets/collaterals/deploy_USDe.ts',

scripts/deployment/phase2-assets/collaterals/deploy_morpho_v2_vaults.ts

@@ -0,0 +1,161 @@
+import fs from 'fs'
+import hre from 'hardhat'
+import { getChainId } from '../../../../common/blockchain-utils'
+import { networkConfig, ITokens } from '../../../../common/configuration'
+import { fp } from '../../../../common/numbers'
+import { expect } from 'chai'
+import { CollateralStatus } from '../../../../common/constants'
+import {
+  getDeploymentFile,
+  getAssetCollDeploymentFilename,
+  IAssetCollDeployments,
+  getDeploymentFilename,
+  fileExists,
+} from '../../common'
+import {
+  USDC_ORACLE_TIMEOUT,
+  USDC_ORACLE_ERROR,
+  USDC_USD_FEED,
+  USDT_ORACLE_TIMEOUT,
+  USDT_ORACLE_ERROR,
+  USDT_USD_FEED,
+  PYUSD_ORACLE_TIMEOUT,
+  PYUSD_ORACLE_ERROR,
+  PYUSD_USD_FEED,
+  PRICE_TIMEOUT,
+  DELAY_UNTIL_DEFAULT,
+} from '../../../../test/plugins/individual-collateral/meta-morpho/constants'
+import { MetaMorphoFiatCollateral } from '../../../../typechain'
+import { ContractFactory, BigNumber } from 'ethers'
+
+// Morpho Vault V2 collaterals. All are USD-pegged MetaMorpho ERC4626 vaults with
+// no gates and 18-decimal shares over a 6-decimal asset (verified on-chain).
+interface V2VaultDeployment {
+  tokenKey: keyof ITokens
+  feed: string
+  oracleTimeout: BigNumber
+  oracleError: BigNumber
+}
+
+const VAULTS: V2VaultDeployment[] = [
+  {
+    tokenKey: 'steakUSDCPrime',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'sentoraPYUSD',
+    feed: PYUSD_USD_FEED,
+    oracleTimeout: PYUSD_ORACLE_TIMEOUT,
+    oracleError: PYUSD_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'gauntletUSDCFrontier',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'steakUSDTPrime',
+    feed: USDT_USD_FEED,
+    oracleTimeout: USDT_ORACLE_TIMEOUT,
+    oracleError: USDT_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'galaxyUSDTQuality',
+    feed: USDT_USD_FEED,
+    oracleTimeout: USDT_ORACLE_TIMEOUT,
+    oracleError: USDT_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'gauntletUSDCPrime',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'galaxyUSDCQuality',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'skyUSDTSavings',
+    feed: USDT_USD_FEED,
+    oracleTimeout: USDT_ORACLE_TIMEOUT,
+    oracleError: USDT_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+]
+
+async function main() {
+  // ==== Read Configuration ====
+  const [deployer] = await hre.ethers.getSigners()
+  const chainId = await getChainId(hre)
+
+  console.log(`Deploying Morpho Vault V2 collaterals to network ${hre.network.name} (${chainId})
+    with burner account: ${deployer.address}`)
+
+  if (!networkConfig[chainId]) {
+    throw new Error(`Missing network configuration for ${hre.network.name}`)
+  }
+
+  // Get phase1 deployment
+  const phase1File = getDeploymentFilename(chainId)
+  if (!fileExists(phase1File)) {
+    throw new Error(`${phase1File} doesn't exist yet. Run phase 1`)
+  }
+  // Check previous step completed
+  const assetCollDeploymentFilename = getAssetCollDeploymentFilename(chainId)
+  const assetCollDeployments = <IAssetCollDeployments>getDeploymentFile(assetCollDeploymentFilename)
+
+  const deployedCollateral: string[] = []
+
+  const MetaMorphoFiatCollateralFactory: ContractFactory = await hre.ethers.getContractFactory(
+    'MetaMorphoFiatCollateral'
+  )
+
+  for (const v of VAULTS) {
+    const erc20 = networkConfig[chainId].tokens[v.tokenKey]
+    if (!erc20) {
+      throw new Error(`Missing token address for ${v.tokenKey} on chain ${chainId}`)
+    }
+
+    const collateral = <MetaMorphoFiatCollateral>await MetaMorphoFiatCollateralFactory.connect(
+      deployer
+    ).deploy(
+      {
+        priceTimeout: PRICE_TIMEOUT.toString(),
+        chainlinkFeed: v.feed,
+        oracleError: v.oracleError.toString(),
+        erc20: erc20,
+        maxTradeVolume: fp('1e6').toString(),
+        oracleTimeout: v.oracleTimeout.toString(),
+        targetName: hre.ethers.utils.formatBytes32String('USD'),
+        defaultThreshold: v.oracleError.add(fp('0.01')).toString(), // +1% buffer rule
+        delayUntilDefault: DELAY_UNTIL_DEFAULT.toString(),
+      },
+      fp('1e-4') // can have mild drawdowns
+    )
+    await collateral.deployed()
+
+    console.log(`Deployed ${v.tokenKey} to ${hre.network.name} (${chainId}): ${collateral.address}`)
+    await (await collateral.refresh({ gasLimit: 3_000_000 })).wait()
+    expect(await collateral.status()).to.equal(CollateralStatus.SOUND)
+
+    assetCollDeployments.collateral[v.tokenKey] = collateral.address
+    assetCollDeployments.erc20s[v.tokenKey] = erc20
+    deployedCollateral.push(collateral.address.toString())
+
+    fs.writeFileSync(assetCollDeploymentFilename, JSON.stringify(assetCollDeployments, null, 2))
+  }
+
+  console.log(`Deployed Morpho Vault V2 collaterals to ${hre.network.name} (${chainId})
+        New deployments: ${deployedCollateral}
+        Deployment file: ${assetCollDeploymentFilename}`)
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

scripts/verification/collateral-plugins/verify_morpho_v2_vaults.ts

@@ -0,0 +1,137 @@
+import hre from 'hardhat'
+import { getChainId } from '../../../common/blockchain-utils'
+import { developmentChains, networkConfig, ITokens } from '../../../common/configuration'
+import { fp } from '../../../common/numbers'
+import {
+  getDeploymentFile,
+  getAssetCollDeploymentFilename,
+  IAssetCollDeployments,
+} from '../../deployment/common'
+import {
+  USDC_ORACLE_TIMEOUT,
+  USDC_ORACLE_ERROR,
+  USDC_USD_FEED,
+  USDT_ORACLE_TIMEOUT,
+  USDT_ORACLE_ERROR,
+  USDT_USD_FEED,
+  PYUSD_ORACLE_TIMEOUT,
+  PYUSD_ORACLE_ERROR,
+  PYUSD_USD_FEED,
+  PRICE_TIMEOUT,
+  DELAY_UNTIL_DEFAULT,
+} from '../../../test/plugins/individual-collateral/meta-morpho/constants'
+import { verifyContract } from '../../deployment/utils'
+import { BigNumber } from 'ethers'
+
+let deployments: IAssetCollDeployments
+
+// Morpho Vault V2 collaterals — must match the args used in deploy_morpho_v2_vaults.ts
+interface V2VaultVerification {
+  tokenKey: keyof ITokens
+  feed: string
+  oracleTimeout: BigNumber
+  oracleError: BigNumber
+}
+
+const VAULTS: V2VaultVerification[] = [
+  {
+    tokenKey: 'steakUSDCPrime',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'sentoraPYUSD',
+    feed: PYUSD_USD_FEED,
+    oracleTimeout: PYUSD_ORACLE_TIMEOUT,
+    oracleError: PYUSD_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'gauntletUSDCFrontier',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'steakUSDTPrime',
+    feed: USDT_USD_FEED,
+    oracleTimeout: USDT_ORACLE_TIMEOUT,
+    oracleError: USDT_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'galaxyUSDTQuality',
+    feed: USDT_USD_FEED,
+    oracleTimeout: USDT_ORACLE_TIMEOUT,
+    oracleError: USDT_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'gauntletUSDCPrime',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'galaxyUSDCQuality',
+    feed: USDC_USD_FEED,
+    oracleTimeout: USDC_ORACLE_TIMEOUT,
+    oracleError: USDC_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+  {
+    tokenKey: 'skyUSDTSavings',
+    feed: USDT_USD_FEED,
+    oracleTimeout: USDT_ORACLE_TIMEOUT,
+    oracleError: USDT_ORACLE_ERROR,
+  }, // eslint-disable-line prettier/prettier
+]
+
+async function main() {
+  // ********** Read config **********
+  const chainId = await getChainId(hre)
+  if (!networkConfig[chainId]) {
+    throw new Error(`Missing network configuration for ${hre.network.name}`)
+  }
+
+  if (developmentChains.includes(hre.network.name)) {
+    throw new Error(`Cannot verify contracts for development chain ${hre.network.name}`)
+  }
+
+  const assetCollDeploymentFilename = getAssetCollDeploymentFilename(chainId)
+  deployments = <IAssetCollDeployments>getDeploymentFile(assetCollDeploymentFilename)
+
+  for (const v of VAULTS) {
+    /********  Verify Morpho Vault V2 collateral  **************************/
+    const collateralAddr = deployments.collateral[v.tokenKey]
+    if (!collateralAddr) {
+      throw new Error(`Missing deployed collateral for ${v.tokenKey} on chain ${chainId}`)
+    }
+    const erc20 = networkConfig[chainId].tokens[v.tokenKey]
+    if (!erc20) {
+      throw new Error(`Missing token address for ${v.tokenKey} on chain ${chainId}`)
+    }
+
+    await verifyContract(
+      chainId,
+      collateralAddr,
+      [
+        {
+          priceTimeout: PRICE_TIMEOUT.toString(),
+          chainlinkFeed: v.feed,
+          oracleError: v.oracleError.toString(),
+          erc20: erc20,
+          maxTradeVolume: fp('1e6').toString(),
+          oracleTimeout: v.oracleTimeout.toString(),
+          targetName: hre.ethers.utils.formatBytes32String('USD'),
+          defaultThreshold: v.oracleError.add(fp('0.01')).toString(), // +1% buffer rule
+          delayUntilDefault: DELAY_UNTIL_DEFAULT.toString(),
+        },
+        fp('1e-4'), // can have small drawdowns
+      ],
+      'contracts/plugins/assets/meta-morpho/MetaMorphoFiatCollateral.sol:MetaMorphoFiatCollateral'
+    )
+  }
+}
+
+main().catch((error) => {
+  console.error(error)
+  process.exitCode = 1
+})

scripts/verify_etherscan.ts

@@ -74,6 +74,7 @@ async function main() {
       'collateral-plugins/verify_sfrax_eth.ts',
       'collateral-plugins/verify_steakusdc.ts',
       'collateral-plugins/verify_re7weth.ts',
+      'collateral-plugins/verify_morpho_v2_vaults.ts',
       'collateral-plugins/verify_ethx.ts',
       'collateral-plugins/verify_apxeth.ts',
       'collateral-plugins/verify_USDe.ts',