erc_4626.vault_protocol.morpho.vault_v1
Documentation for eth_defi.erc_4626.vault_protocol.morpho.vault_v1 Python module.
Morpho Vault V1 (MetaMorpho) support.
Morpho V1 vaults directly integrate with Morpho markets and are identified
by the MORPHO() function call.
Classes
Morpho Vault V1 (MetaMorpho) support. |
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Read Morpho V1 vault core data + fees + utilisation. |
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alias of |
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alias of |
- class MorphoV1VaultHistoricalReader
Bases:
eth_defi.erc_4626.vault.ERC4626HistoricalReaderRead Morpho V1 vault core data + fees + utilisation.
- construct_multicalls()
Get the onchain calls that are needed to read the share price.
- construct_utilisation_calls()
Add idle assets call for utilisation calculation.
Morpho V1 uses idle assets pattern: asset().balanceOf(vault)
- process_morpho_fee_result(call_by_name)
Decode Morpho V1 fee data.
- Parameters
call_by_name (dict[str, eth_defi.event_reader.multicall_batcher.EncodedCallResult]) –
- Return type
- process_utilisation_result(call_by_name, total_assets)
Decode Morpho V1 utilisation data.
Utilisation = (totalAssets - idle) / totalAssets
- Parameters
call_by_name (dict[str, eth_defi.event_reader.multicall_batcher.EncodedCallResult]) –
total_assets (Optional[decimal.Decimal]) –
- Return type
tuple[decimal.Decimal | None, float | None]
- process_result(block_number, timestamp, call_results)
Process the result of mult
Calls are created in
construct_multicalls()This method combines result of this calls to a easy to manage historical record
VaultHistoricalRead
- Parameters
block_number (int) –
timestamp (datetime.datetime) –
call_results (list[eth_defi.event_reader.multicall_batcher.EncodedCallResult]) –
- Return type
- __init__(vault, stateful)
- Parameters
vault (eth_defi.erc_4626.vault.ERC4626Vault) –
stateful (bool) –
- construct_core_erc_4626_multicall()
Polling endpoints defined in ERC-4626 spec.
Does not include fee calls which do not have standard
- dictify_multicall_results(block_number, call_results, allow_failure=True)
Convert batch of multicalls made for this vault to more digestible dict.
Assert that all multicalls succeed
- Returns
Dictionary where each multicall is keyed by its
EncodedCall.extra_data["function"]- Parameters
block_number (int) –
call_results (list[eth_defi.event_reader.multicall_batcher.EncodedCallResult]) –
- Return type
dict[str, eth_defi.event_reader.multicall_batcher.EncodedCallResult]
- get_warmup_calls()
Yield (function_name, callable, contract_call) tuples for warmup testing.
Each callable should execute a single contract call. If it raises, the function is marked as broken.
The optional contract_call is used for gas estimation to detect expensive calls before executing them. If provided, calls using excessive gas (>1M gas) will be marked as broken without execution.
Override in subclasses to add protocol-specific calls.
- process_core_erc_4626_result(call_by_name)
Decode common ERC-4626 calls.
- Parameters
call_by_name (dict[str, eth_defi.event_reader.multicall_batcher.EncodedCallResult]) –
- Return type
- class MorphoV1Vault
Bases:
eth_defi.erc_4626.vault.ERC4626VaultMorpho Vault V1 (MetaMorpho) support.
Morpho V1 vaults directly integrate with Morpho markets. They are identified by the
MORPHO()function call which returns the address of the Morpho protocol contract.See also
eth_defi.erc_4626.vault_protocol.morpho.vault_v2.MorphoV2Vaultfor the newer adapter-based architecture.- 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, useget_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, accessingdenomination_tokenwill raiseRuntimeErrorwhen the on-chain lookup returnsNone.
- property morpho_api_result: eth_defi.erc_4626.vault_protocol.morpho.offchain_metadata.MorphoVaultAPIResult
Vault lookup result from the Morpho GraphQL API.
Unlike
morpho_offchain_data, this property preserves the difference betweenNOT_FOUNDand transient API failures.- Returns
Three-way Morpho API lookup result.
- property morpho_offchain_data: Optional[eth_defi.erc_4626.vault_protocol.morpho.offchain_metadata.MorphoVaultData]
Vault and market warnings from the Morpho GraphQL API (24h cached).
Fetches vault-level governance warnings (e.g.
short_timelock) and market-level risk warnings (e.g.bad_debt_unrealized) for this vault and its underlying market allocations.Results are cached in-process and on disk for 24 hours.
Returns
Noneif the vault is not indexed by the Morpho API or if a transient network error occurred.
- Returns
MorphoVaultDataorNone.
- get_morpho_vault_flags()
Return warning type strings from vault-level Morpho API warnings.
Vault-level warnings cover governance risk:
short_timelock,deposit_disabled,not_whitelisted,unrecognized_deposit_asset,invalid_name,invalid_symbol,custom.
- get_morpho_market_flags()
Return warning type strings from Morpho API warnings on underlying markets.
Market-level warnings cover financial risk in the vault’s market allocations:
bad_debt_unrealized(RED),bad_debt_realized(YELLOW),oracle_price_derivation,not_whitelisted.
- get_notes()
Return a human-readable note about RED-level Morpho warnings, if any.
Checks the hardcoded flag table first (via the base class), then falls back to a dynamically generated note from the Morpho GraphQL API when RED warnings are present.
The generated text follows the form:
"Morpho has flagged this vault with the following issues: bad_debt_unrealized, short_timelock"
- get_flags()
Get vault flags, adding
morpho_issueswhen RED warnings are detected.Calls the Morpho GraphQL API (24h cached) to check for RED-level vault or market warnings. If any are found, adds
morpho_issuesto the flag set.- Returns
Set of
VaultFlagvalues.- Return type
- 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
- get_management_fee(block_identifier)
Morpho V1 vaults have no management fee.
- get_performance_fee(block_identifier)
Get Morpho V1 performance fee.
- 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
- get_link(referral=None)
Get a link to the vault dashboard on its native site.
By default, give RouteScan link
- fetch_available_liquidity(block_identifier='latest')
Get the amount of denomination token available for immediate withdrawal.
Uses the idle assets pattern: asset().balanceOf(vault) returns unallocated assets.
- 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”.
- Returns
Amount in denomination token units (human-readable Decimal).
- Return type
- fetch_utilisation_percent(block_identifier='latest')
Get the percentage of assets currently allocated to strategies.
Utilisation = (totalAssets - idle) / totalAssets
- __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, useget_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, accessingdenomination_tokenwill raiseRuntimeErrorwhen the on-chain lookup returnsNone.
- 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
- 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
- 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
Noneresults 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_denomination_token()
Read denomination token from onchain.
Use
denomination_token()for cached access.- Return type
- fetch_denomination_token_address()
Get the
asset()denomination token address of this vault.Results are disk-cached per
(chain_id, vault_address)viaeth_defi.erc_4626.vault_tokenwhen the vault was constructed with aeth_defi.token.TokenDiskCacheand no pinneddefault_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
Nonepath taken on revert / broken contract is never cached, matching the behaviour ofeth_defi.vault.base.VaultBase.denomination_token()which explicitly avoids memoisingNoneso transient failures can be retried.To disable the cache, pass
token_cache=None(or any non-TokenDiskCachedict) when constructing the vault, or construct with a pinneddefault_block_identifier.- Returns
Denomination token address, or
Noneif the vault contract is broken and did not return a valid address.- Return type
- 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.
- 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
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
- 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
- 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.
- 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
- fetch_scan_record_extra_data()
Fetch protocol-specific private scan row columns.
Some vault protocols expose structured metadata that is useful for the raw scanner output but does not fit the shared human-readable columns. Override this hook in protocol-specific subclasses instead of adding a separate branch to
eth_defi.erc_4626.scan.create_vault_scan_record().
Get the current share price.
Read share token details onchain.
Use
share_token()for cached access.- Return type
Get share token of this vault.
Vault itself (ERC-4626)
share()accessor (ERC-7575)
Results are disk-cached per
(chain_id, vault_address)viaeth_defi.erc_4626.vault_tokenwhen the vault was constructed with aeth_defi.token.TokenDiskCache. Under normal circumstances theblock_identifierargument 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 toself.vault_addressbut 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-TokenDiskCachedict) when constructing the vault, or construct with a pinneddefault_block_identifierto 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 pinneddefault_block_identifier.- Return type
- 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
- 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
- fetch_vault_info()
Get all information we can extract from the vault smart contracts.
- Return type
- 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().
- get_deposit_manager()
Get deposit manager to deposit/redeem from the vault.
- Return type
- get_deposit_manager_capability()
Declare the exact generic ERC-4626 implementation’s two-way flow.
Subclasses need exact-type inclusion in
CERTIFIED_SYNCHRONOUS_DEPOSIT_MANAGER_CLASSES. The guarded probe may separately usesupports_generic_deposit_manager()as a temporary fallback without advertising it as public metadata.- Returns
Synchronous two-way capability for the exact base class, otherwise
None.- Return type
Optional[eth_defi.vault.deposit_redeem.VaultDepositManagerCapability]
- 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
- get_fee_mode()
Get how this vault accounts its fees.
- Return type
- get_flow_manager()
Get flow manager to read indiviaul settle events.
Only supported if
has_block_range_event_support()is True
- Return type
- get_risk()
Get risk profile of this vault.
- Return type
- get_synchronous_deposit_manager_capability()
Build static metadata for a verified synchronous manager.
A caller must already have established the reader class’ guarded fork evidence. This deliberately performs no RPC reads: the capability is static library metadata, not a live vault availability check.
- Returns
Synchronous two-way capability.
- Return type
- 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().
- 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_custom_fees()
Does this vault have fees outside the shared fee model.
Custom fees cause risk in vault comparison because the shared management/performance/deposit/withdraw fee fields cannot describe the full fee structure.
Do not return
Truemerely because a vault implements custom accessors for ordinary management, performance, deposit, or withdraw fees. ReturnTrueonly when some vault fee cannot be reflected in those standard fields as a fee-like value.- Returns
Trueif the vault has fees outside the shared fee model.- Return type
- 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_account_whitelisted(address)
Determine whether an account belongs to the vault deposit policy.
The result concerns policy membership only. A protocol may still require scheduling, an allowance, available capacity, or an open epoch before a deposit can be submitted. Callers must use the relevant deposit manager pre-flight before broadcasting a transaction.
- Parameters
address (eth_typing.evm.HexAddress) – Account whose deposit-policy membership is queried.
- Returns
Truewhen the account belongs to the applicable policy.- Raises
NotImplementedError – If the adapter cannot safely query account membership.
- Return type
- is_valid()
Check if this vault is valid.
Call a known smart contract function to verify the function exists
- Return type
- is_whitelisted_deposit()
Determine whether this vault applies a deposit whitelist policy.
Protocol adapters override this predicate only when their deployed contract version exposes a reliable vault-wide policy read.
Truemeans the vault requires account permission;Falsemeans its policy is permissionless. This is independent of a caller’s current balance, allowance, pause state, capacity, and request lifecycle.- Returns
Truefor a whitelist-restricted vault andFalsefor a permissionless vault.- Raises
NotImplementedError – If the adapter cannot safely determine the policy.
- Return type
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 tablesReturns None if not available
Override in subclasses that support offchain metadata
- supports_generic_deposit_manager()
Check whether the live vault exposes the standard ERC-4626 surface.
This is deliberately an interface check, not a public support claim. Callers must still execute a guarded fork probe before relying on the generic manager for a protocol-specific adapter.
- Returns
Truewhenassetsucceeds with a non-zero asset address. Deposit and redemption availability is established only by a guarded fork transaction, not by ERC-4626max*advisory values.- Return type
- property underlying_token: eth_defi.token.TokenDetails
Alias for
denomination_token()
- property vault_contract: web3.contract.contract.Contract
Get vault deployment.
- MorphoVaultHistoricalReader
alias of
eth_defi.erc_4626.vault_protocol.morpho.vault_v1.MorphoV1VaultHistoricalReader
- MorphoVault
alias of
eth_defi.erc_4626.vault_protocol.morpho.vault_v1.MorphoV1Vault