erc_4626.vault_protocol.goat.vault

Documentation for eth_defi.erc_4626.vault_protocol.goat.vault Python module.

Goat vault support.

Classes

GoatVault

Goat protocol vaults.

class GoatVault

Bases: eth_defi.erc_4626.vault.ERC4626Vault

Goat protocol vaults.

• An example vault

• Each goat can have multiple strategies with each strategy with different unlocked and locked profit and loss

• Multistrategy contract on Github

• Fees are internalised into the share price of the strategy (similar as Yearn, Harvest).

Withdraw logic (from _withdraw function):

/// @notice Handles withdrawals from the contract.
///
/// This function performs the following actions:
/// - If the caller is not the owner, it checks and spends the allowance for the withdrawal.
/// - Ensures that the amount to be withdrawn is greater than zero.
/// - If the requested withdrawal amount exceeds the available balance, it withdraws the necessary amount from the strategies in the withdrawal order.
///   - Iterates through the withdrawal queue, withdrawing from each strategy until the balance requirement is met or the queue is exhausted.
///   - Updates the total debt of both the strategy and the contract as assets are withdrawn.
///   - Requests the strategy to report, accounting for potential gains or losses.
/// - Reverts if the withdrawal process does not result in sufficient balance.
/// - Burns the corresponding shares and transfers the requested assets to the receiver.
/// - Emits a `Withdraw` event with the caller, receiver, owner, amount of assets withdrawn, and shares burned.
///
/// @param _caller The address of the entity initiating the withdrawal.
/// @param _receiver The address of the recipient to receive the withdrawn assets.
/// @param _owner The address of the owner of the shares being withdrawn.
/// @param _assets The amount of assets to withdraw.
/// @param _shares The amount of shares to burn.
/// @param _consumeAllShares True if all `_shares` should be used to withdraw. False if it should withdraw just `_assets`.
/// @return The number of assets withdrawn and the shares burned as a result of the withdrawal.
function _withdraw(
    address _caller,
    address _receiver,
    address _owner,
    uint256 _assets,
    uint256 _shares,
    bool _consumeAllShares
) internal returns (uint256, uint256) {
    require(_shares > 0, Errors.ZeroAmount(_shares));

    if (_caller != _owner) {
        _spendAllowance(_owner, _caller, _shares);
    }

    uint256 assets = _consumeAllShares ? _convertToAssets(_shares, Math.Rounding.Floor) : _assets;

    if(assets > _balance()) {
        for(uint8 i = 0; i <= withdrawOrder.length; ++i){
            address strategy = withdrawOrder[i];

            // We reached the end of the withdraw queue and assets are still higher than the balance
            require(strategy != address(0), Errors.InsufficientBalance(assets, _balance()));

            // We can't withdraw from a strategy more than what it has asked as credit.
            uint256 assetsToWithdraw = Math.min(assets - _balance(), strategies[strategy].totalDebt);
            if(assetsToWithdraw == 0) continue;

            uint256 withdrawn = IStrategyAdapter(strategy).withdraw(assetsToWithdraw);
            strategies[strategy].totalDebt -= withdrawn;
            totalDebt -= withdrawn;

            IStrategyAdapter(strategy).askReport();

            // Update assets, as a loss could have been reported and user should get less assets for
            // the same amount of shares.
            if(_consumeAllShares) assets = _convertToAssets(_shares, Math.Rounding.Floor);
            if(assets <= _balance()) break;
        }
    }

    uint256 shares = _consumeAllShares ? _shares : _convertToShares(assets, Math.Rounding.Ceil);
    _burn(_owner, shares);
    IERC20(asset()).safeTransfer(_receiver, assets);

    emit Withdraw(_caller, _receiver, _owner, assets, shares);

    return (assets, shares);
}

Fee calculation (from _report function):

/// @notice Reports the performance of a strategy.
///
/// This function performs the following actions:
/// - Validates that the reporting strategy does not claim both a gain and a loss simultaneously.
/// - Checks that the strategy has sufficient tokens to cover the debt repayment and the gain.
/// - If there is a loss, it realizes the loss.
/// - Calculates and deducts the performance fee from the gain.
/// - Determines the excess debt of the strategy.
/// - Adjusts the strategy's and contract's total debt accordingly.
/// - Calculates and updates the new locked profit after accounting for any losses.
/// - Updates the reporting timestamps for the strategy and the contract.
/// - Transfers the debt repayment and the gains to this contract.
///
/// Emits a `StrategyReported` event.
///
/// @param _debtRepayment The amount of debt being repaid by the strategy.
/// @param _gain The amount of profit reported by the strategy.
/// @param _loss The amount of loss reported by the strategy.
function _report(uint256 _debtRepayment, uint256 _gain, uint256 _loss) internal {
    uint256 strategyBalance = IERC20(asset()).balanceOf(msg.sender);
    require(!(_gain > 0 && _loss > 0), Errors.GainLossMismatch());
    require(strategyBalance >= _debtRepayment + _gain, Errors.InsufficientBalance(strategyBalance, _debtRepayment + _gain));

    uint256 profit = 0;
    uint256 feesCollected = 0;
    if(_loss > 0) _reportLoss(msg.sender, _loss);
    if(_gain > 0) {
        strategies[msg.sender].totalGain += _gain;
        feesCollected = _gain.mulDiv(performanceFee, MAX_BPS);
        profit = _gain - feesCollected;
    }

    uint256 debtToRepay = Math.min(_debtRepayment, _debtExcess(msg.sender));
    if(debtToRepay > 0) {
        strategies[msg.sender].totalDebt -= debtToRepay;
        totalDebt -= debtToRepay;
    }

    uint256 newLockedProfit = _calculateLockedProfit() + profit;
    if(newLockedProfit > _loss) {
        lockedProfit = newLockedProfit - _loss;
    } else {
        lockedProfit = 0;
    }

    strategies[msg.sender].lastReport = block.timestamp;
    lastReport = block.timestamp;

    if(debtToRepay + _gain > 0) IERC20(asset()).safeTransferFrom(msg.sender, address(this), debtToRepay + _gain);
    if(feesCollected > 0) IERC20(asset()).safeTransfer(protocolFeeRecipient, feesCollected);

    emit StrategyReported(msg.sender, debtToRepay, profit, _loss);
}

Parameters

• web3 – Connection we bind this instance to

• spec – Chain, address tuple

• token_cache –

  Cache used with fetch_erc20_details() to avoid multiple calls to the same token.

  Reduces the number of RPC calls when scanning multiple vaults.

• features – Pass vault feature flags along, externally detected.

• default_block_identifier –

  Override block identifier for on-chain metadata reads.

  When None, use get_safe_cached_latest_block_number() (the default, safe for broken RPCs). Set to "latest" for freshly deployed vaults whose contracts do not exist at the safe-cached block.

• require_denomination_token – If True, accessing denomination_token will raise RuntimeError when the on-chain lookup returns None.

property vault_contract: web3.contract.contract.Contract

Get vault deployment.

fetch_pnl()

Fetch profit and loss from the vault.

* This function performs the following actions:
* - Iterates through the `withdrawOrder` array, which defines the order in which strategies are withdrawn from.
* - For each strategy in the `withdrawOrder`:
*   - If the strategy address is zero, it breaks the loop, indicating the end of the list.
*   - If the strategy has no debt, it skips to the next strategy.
*   - Otherwise, it retrieves the current profit and loss (PnL) from the strategy by calling `currentPnL`.
*   - Adds the strategy's profit to the total profit, after deducting the performance fee.
*   - Adds the strategy's loss to the total loss.
* - Returns the total profit and total loss across all active strategies.
*
* @return totalProfit The total profit across all active strategies, after deducting the performance fee.
* @return totalLoss The total loss across all active strategies.

Returns

(locked, unlocked) PnL amounts

Return type

tuple[decimal.Decimal, decimal.Decimal]

has_custom_fees()

Deposit/withdrawal fees.

Return type

bool

get_management_fee(block_identifier)

Internalised to the share price

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, int]) –

Return type

float

get_performance_fee(block_identifier)

Internalised to the share price

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, int]) –

Return type

Optional[float]

get_estimated_lock_up()

ERC-4626 vaults do not have a lock up by fault.

Note

Because of so many protocol specific lockups, this must be explicitly set to zero.

Return type

datetime.timedelta

__init__(web3, spec, token_cache=None, features=None, default_block_identifier=None, require_denomination_token=False)

Parameters

• web3 (web3.main.Web3) – Connection we bind this instance to

• spec (eth_defi.vault.base.VaultSpec) – Chain, address tuple

• token_cache (Optional[dict]) –

  Cache used with fetch_erc20_details() to avoid multiple calls to the same token.

  Reduces the number of RPC calls when scanning multiple vaults.

• features (Optional[set[eth_defi.erc_4626.core.ERC4626Feature]]) – Pass vault feature flags along, externally detected.

• default_block_identifier (Optional[Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, hexbytes.main.HexBytes, int]]) –

  Override block identifier for on-chain metadata reads.

  When None, use get_safe_cached_latest_block_number() (the default, safe for broken RPCs). Set to "latest" for freshly deployed vaults whose contracts do not exist at the safe-cached block.

• require_denomination_token (bool) – If True, accessing denomination_token will raise RuntimeError when the on-chain lookup returns None.

property address: eth_typing.evm.HexAddress

Get the vault smart contract address.

can_check_deposit()

Check if maxDeposit(address(0)) can be used to check global deposit availability.

Most ERC-4626 vaults implement maxDeposit in a way that returns meaningful values when called with address(0):

• Returns 0 when deposits are globally closed/capped

• Returns a positive value indicating maximum deposit allowed

Override to return False in subclasses where maxDeposit(address(0)) doesn’t provide meaningful global availability information.

Returns

True if maxDeposit(address(0)) returns meaningful values for global deposit availability checking.

Return type

bool

can_check_redeem()

Check if maxRedeem(address(0)) can be used to check global redemption availability.

Most protocols return 0 for maxRedeem(address(0)) because that address has no balance/shares, not because redemptions are closed:

• Gearbox: maxRedeem returns min(balanceOf(owner), convertToShares(availableLiquidity))

• Most vaults: Return 0 because address(0) has no shares

Some protocols do use maxRedeem(address(0)) meaningfully:

• Morpho, IPOR, Plutus: Return 0 when redemptions are globally blocked

Override to return True in subclasses that support address(0) redemption checks.

Returns

True if maxRedeem(address(0)) returns meaningful values for global redemption availability checking.

Return type

bool

property chain_id: int

Chain this vault is on

property denomination_token: Optional[eth_defi.token.TokenDetails]

Get the token which denominates the vault valuation

• Used in deposits and redemptions

• Used in NAV calculation

• Used in profit benchmarks

• Usually USDC

Returns

Token wrapper instance.

Maybe None for broken vaults like https://arbiscan.io/address/0x9d0fbc852deccb7dcdd6cb224fa7561efda74411#code

Note

None results are not cached — the next access will retry the on-chain call. This avoids permanently caching a transient RPC failure.

property deposit_manager: eth_defi.vault.deposit_redeem.VaultDepositManager

Deposit manager assocaited with this vault

property description: Optional[str]

Human-readable vault strategy description.

• Fetched from protocol-specific offchain sources (e.g. Euler GitHub labels, Lagoon web app API)

• Returns None if the protocol does not provide descriptions or the vault is not in the metadata source

• Override in subclasses that support offchain metadata

property erc_7540: bool

Is this ERC-7540 vault with asynchronous deposits.

• For example previewDeposit() function and other functions will revert

fetch_available_liquidity(block_identifier='latest')

Get the amount of denomination token available for immediate withdrawal.

Only applicable to lending protocol vaults (IPOR, Euler, Morpho, Gearbox, etc.). Non-lending protocols should leave this method unimplemented.

Note: maxRedeem(address(0)) does NOT work as a proxy for available liquidity because it requires a specific address that has already deposited shares. For address(0), balanceOf is always 0, so maxRedeem returns 0 regardless of actual liquidity.

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, int]) – Block to query. Defaults to “latest”.

Raises

NotImplementedError – For non-lending protocol vaults.

Returns

Amount in denomination token units (human-readable Decimal).

Return type

Optional[decimal.Decimal]

fetch_denomination_token()

Read denomination token from onchain.

Use denomination_token() for cached access.

Return type

Optional[eth_defi.token.TokenDetails]

fetch_denomination_token_address()

Get the asset() denomination token address of this vault.

Results are disk-cached per (chain_id, vault_address) via eth_defi.erc_4626.vault_token when the vault was constructed with a eth_defi.token.TokenDiskCache and no pinned default_block_identifier. The denomination token is immutable post-deployment, so the cached value is correct regardless of which block the caller would have asked for.

Only a definitive non-null answer is persisted. The None path taken on revert / broken contract is never cached, matching the behaviour of eth_defi.vault.base.VaultBase.denomination_token() which explicitly avoids memoising None so transient failures can be retried.

To disable the cache, pass token_cache=None (or any non- TokenDiskCache dict) when constructing the vault, or construct with a pinned default_block_identifier.

Returns

Denomination token address, or None if the vault contract is broken and did not return a valid address.

Return type

Optional[eth_typing.evm.HexAddress]

fetch_deposit_closed_reason()

Check if deposits are closed using maxDeposit(address(0)).

Uses the ERC-4626 standard maxDeposit function to determine if deposits are available. Returns a human-readable reason with the max deposit amount if deposits are restricted.

Returns

Human-readable string if deposits are closed/restricted, or None if deposits are open (maxDeposit > 0).

Return type

Optional[str]

fetch_deposit_next_open()

Get when deposits will next be open.

• For epoch-based vaults (Ostium, D2), return calculated window open time

• For non-epoch vaults (Plutus, IPOR, Morpho), return None

• Override in protocol-specific subclasses

Returns

Naive UTC datetime when deposits will next be available, or None if:

• Deposits are currently open

• Timing is unpredictable (manually controlled)

• Protocol does not support timing information

Return type

Optional[datetime.datetime]

fetch_info()

Use info() property for cached access.

Returns

See LagoonVaultInfo

Return type

eth_defi.erc_4626.vault.ERC4626VaultInfo

fetch_nav(block_identifier=None)

Fetch the most recent onchain NAV value.

• In the case of Lagoon, this is the last value written in the contract with updateNewTotalAssets() and ` settleDeposit()`

• TODO: updateNewTotalAssets() there is no way to read pending asset update on chain

Returns

Vault NAV, denominated in denomination_token()

Return type

decimal.Decimal

fetch_portfolio(universe, block_identifier=None, allow_fallback=True)

Read the current token balances of a vault.

• SHould be supported by all implementations

Parameters

• universe (eth_defi.vault.base.TradingUniverse) –

• block_identifier (Optional[Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, hexbytes.main.HexBytes, int]]) –

• allow_fallback (bool) –

Return type

eth_defi.vault.base.VaultPortfolio

fetch_redemption_closed_reason()

Check if redemptions are closed using maxRedeem(address(0)).

Only works for protocols that implement maxRedeem in a way that returns meaningful values for address(0). Most protocols return 0 because address(0) has no shares, not because redemptions are closed.

Returns

Human-readable string if redemptions are closed, or None if redemptions are open or check is not supported.

Return type

Optional[str]

fetch_redemption_next_open()

Get when withdrawals/redemptions will next be open.

• For epoch-based vaults (Ostium, D2), return calculated window open time

• For non-epoch vaults (Plutus, IPOR, Morpho), return None

• Override in protocol-specific subclasses

Returns

Naive UTC datetime when withdrawals will next be available, or None if:

• Withdrawals are currently open

• Timing is unpredictable (manually controlled)

• Protocol does not support timing information

Return type

Optional[datetime.datetime]

fetch_share_price(block_identifier)

Get the current share price.

Returns

The share price in underlying token.

If supply is zero return zero.

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, hexbytes.main.HexBytes, int]) –

Return type

decimal.Decimal

fetch_share_token()

Read share token details onchain.

Use share_token() for cached access.

Return type

eth_defi.token.TokenDetails

fetch_share_token_address(block_identifier='latest')

Get share token of this vault.

• Vault itself (ERC-4626)

• share() accessor (ERC-7575)

Results are disk-cached per (chain_id, vault_address) via eth_defi.erc_4626.vault_token when the vault was constructed with a eth_defi.token.TokenDiskCache. Under normal circumstances the block_identifier argument is effectively ignored on cache hits — ERC-4626 share tokens are immutable post-deployment, so the cached value is correct regardless of which block the caller asked for.

Only a definitive answer from the chain is ever persisted: a successful call, or a revert matching KNOWN_SHARE_TOKEN_ERROR_MESSAGES (which positively classifies the contract as non-ERC-7575). Transient RPC failures (ProbablyNodeHasNoBlock, HTTP 502) fall back to self.vault_address but are not written to the cache, so a flaky node cannot poison a real ERC-7575 vault’s entry.

To disable the cache, pass token_cache=None (or any non- TokenDiskCache dict) when constructing the vault, or construct with a pinned default_block_identifier to force the uncached historical-read path on every call.

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, hexbytes.main.HexBytes, int]) – Block to query. Cache is only consulted/written when the caller passes the default "latest" and the vault instance has no pinned default_block_identifier.

Return type

eth_typing.evm.HexAddress

fetch_total_assets(block_identifier)

What is the total NAV of the vault.

Example:

assert vault.denomination_token.symbol == "USDC"
assert vault.share_token.symbol == "ipUSDCfusion"
assert vault.fetch_total_assets(block_identifier=test_block_number) == Decimal("1437072.77357")
assert vault.fetch_total_supply(block_identifier=test_block_number) == Decimal("1390401.22652875")

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, hexbytes.main.HexBytes, int]) –

Block number to read.

Use web3.eth.block_number for the last block.

Returns

The vault value in underlyinh token

Return type

Optional[decimal.Decimal]

fetch_total_supply(block_identifier)

What is the current outstanding shares.

Example:

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, hexbytes.main.HexBytes, int]) –

Block number to read.

Use web3.eth.block_number for the last block.

Returns

The vault value in underlyinh token

Return type

decimal.Decimal

fetch_utilisation_percent(block_identifier='latest')

Get the percentage of assets currently lent out.

Only applicable to lending protocol vaults (IPOR, Euler, Morpho, Gearbox, etc.). Non-lending protocols should leave this method unimplemented.

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, int]) – Block to query. Defaults to “latest”.

Raises

NotImplementedError – For non-lending protocol vaults.

Returns

Utilisation as float between 0.0 and 1.0 (0% to 100%).

Return type

Optional[float]

fetch_vault_info()

Get all information we can extract from the vault smart contracts.

Return type

eth_defi.erc_4626.vault.ERC4626VaultInfo

property flow_manager: eth_defi.vault.base.VaultFlowManager

Flow manager associated with this vault

get_deposit_fee(block_identifier)

Deposit fee is set to zero by default as vaults usually do not have deposit fees.

Internal: Use get_fee_data().

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, int]) –

Return type

Optional[float]

get_deposit_manager()

Get deposit manager to deposit/redeem from the vault.

Return type

eth_defi.erc_4626.deposit_redeem.ERC4626DepositManager

get_fee_data()

Get fee data structure for this vault.

Raises

ValueError – In the case of broken or unimplemented fee reading methods in the smart contract

Return type

eth_defi.vault.fee.FeeData

get_fee_mode()

Get how this vault accounts its fees.

Return type

Optional[eth_defi.vault.fee.VaultFeeMode]

get_flags()

Get various vault state flags from the smart contract.

• Override to add status flags

• Also add flags from our manual flag list in eth_defi.vault.flag

Returns

Flag set.

Do not modify in place.

Return type

set[eth_defi.vault.flag.VaultFlag]

get_flow_manager()

Get flow manager to read indiviaul settle events.

• Only supported if has_block_range_event_support() is True

Return type

eth_defi.vault.base.VaultFlowManager

get_historical_reader(stateful)

Get share price reader to fetch historical returns.

Parameters

stateful – If True, use a stateful reading strategy.

Returns

None if unsupported

Return type

eth_defi.vault.base.VaultHistoricalReader

get_link(referral=None)

Get a link to the vault dashboard on its native site.

• By default, give RouteScan link

Parameters

referral (Optional[str]) – Optional referral code to append to the URL.

Returns

URL string

Return type

str

get_notes()

Get a human readable message if we know somethign special is going on with this vault.

Return type

Optional[str]

get_protocol_name()

Return the name of the vault protocol.

Return type

str

get_risk()

Get risk profile of this vault.

Return type

Optional[eth_defi.vault.risk.VaultTechnicalRisk]

get_withdraw_fee(block_identifier)

Withdraw fee is set to zero by default as vaults usually do not have withdraw fees.

Internal: Use get_fee_data().

Parameters

block_identifier (Union[Literal['latest', 'earliest', 'pending', 'safe', 'finalized'], eth_typing.evm.BlockNumber, eth_typing.evm.Hash32, eth_typing.encoding.HexStr, int]) –

Return type

float

has_block_range_event_support()

Does this vault support block range-based event queries for deposits and redemptions.

• If not we use chain balance polling-based approach

has_deposit_distribution_to_all_positions()

Deposits go automatically to all open positions.

• Deposits do not land into the vault as cash

• Instead, smart contracts automatically increase all open positions

• The behaviour of Velvet Capital

property info: eth_defi.vault.base.VaultInfo

Get info dictionary related to this vault deployment.

• Get cached data on the various vault parameters

Returns

Vault protocol specific information dictionary

is_valid()

Check if this vault is valid.

• Call a known smart contract function to verify the function exists

Return type

bool

property name: str

Vault name.

property share_token: eth_defi.token.TokenDetails

ERC-20 that presents vault shares.

• User gets shares on deposit and burns them on redemption

property short_description: Optional[str]

One-liner vault summary.

• Shorter version of description() suitable for listings and tables

• Returns None if not available

• Override in subclasses that support offchain metadata

property symbol: str

Vault share token symbol

property underlying_token: eth_defi.token.TokenDetails

Alias for denomination_token()