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refactor(morpho): GraphQL-only V2 markets monitoring #321

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spalen0 merged 2 commits into from
Jul 27, 2026
Merged

refactor(morpho): GraphQL-only V2 markets monitoring #321

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06f4946
refactor(morpho): fetch V2 markets via GraphQL only
spalen0 Jul 23, 2026
da2d7ce
test(morpho): cover V2 GraphQL main path and allocation parsing
spalen0 Jul 23, 2026
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2 changes: 1 addition & 1 deletion protocols/morpho/README.md
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Original file line number Diff line number Diff line change
Expand Up @@ -137,7 +137,7 @@ If any market's allocation exceeds its adjusted threshold, an alert is triggered
Morpho's [Vault V2](https://github.com/morpho-org/vault-v2) replaces the v1 single-vault timelock with a **per-function timelock** keyed by arbitrary calldata, plus a richer adapter system. Yearn-curated v2 vaults are monitored separately:

- [`governance_v2.py`](./governance_v2.py) — daily, pulls a per-vault governance **snapshot** from Morpho's GraphQL API (`vaultV2s.pendingConfigs` + `owner` / `curator` / `sentinels` / `allocators` / `adapters`) and diffs it against the persisted cache. Mirrors v1's pull-based approach (`pendingTimelock` / `pendingGuardian` / `pendingCap`) so RPC usage stays bounded. Alerts on: new pending timelocked operations, executed or revoked operations, owner / curator changes, sentinel / allocator / adapter set changes.
- [`markets_v2.py`](./markets_v2.py) — hourly, walks each v2 vault's adapters and applies the shared [risk.py](./risk.py) policy against underlying Morpho Blue markets when the vault uses `MorphoMarketV1AdapterV2`. It also checks the API's immediately withdrawable `liquidityUsd` against the shared 1% threshold. V2 vaults used by YV-collateral strategies skip the individual threshold because `markets.py` performs the more relevant combined collateral-at-risk coverage check. For `MorphoVaultV1Adapter`, the wrapped v1 vault keeps receiving its full v1 analysis via `markets.py`; we only flag a wrapped v1 vault absent from `VAULTS_V1_BY_CHAIN`.
- [`markets_v2.py`](./markets_v2.py) — hourly, GraphQL-only (no RPC): one `vaultV2s` query loads TVL, liquidity, and `MorphoMarketV1` adapter positions for every configured vault, then one `markets` query per chain loads state/bad debt. Applies the shared [risk.py](./risk.py) policy using each position's `supplyAssetsUsd`, and checks withdrawable `liquidityUsd` against the shared 1% threshold. V2 vaults used by YV-collateral strategies skip the individual liquidity threshold because `markets.py` performs the combined collateral-at-risk coverage check. Non-`MorphoMarketV1` adapters fail the run (configured vaults are market-adapter only).
- [`v2_decoders.py`](./v2_decoders.py) — selector→signature map and decoders for every v2 timelocked function (and the three `idData` tag prefixes used by `increaseAbsoluteCap`/`increaseRelativeCap`).

### Vault list
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1 change: 0 additions & 1 deletion protocols/morpho/config.py
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Expand Up @@ -76,7 +76,6 @@ class VaultConfig:
Chain.BASE: (
VaultConfig("Yearn OG USDC V2", "0xe7D0DBE3493830e2Ab62619211A2BfF0Fc60dB42", 2),
VaultConfig("Yearn OG WETH V2", "0x2EfD54529329AD364B8Df988CE3BAb5Ff256ab3E", 2),
VaultConfig("OUSD Vault V2", "0x2Ba14b2e1E7D2189D3550b708DFCA01f899f33c1", 2),
),
Chain.KATANA: (
VaultConfig("Yearn OG USDC", "0xca44cbe1FB03691d43d2d93AA460e2fCB03878fE", 1, KATANA_USDC),
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