MorphoAdapter

Custom Errors

WRONG_OPTIMIZER_ADDRESS

Raised when zero address is provided for Optimizers in the initialize function.

error WRONG_OPTIMIZER_ADDRESS();

WRONG_TOKEN_COUNT

Raised when the length of expectedIn & out parameters, defining token compositions, do not match the expected length required for an operation.

error WRONG_TOKEN_COUNT();

WRONG_TOKEN_ADDRESS

Raised when an invalid address is provided for a token.

error WRONG_TOKEN_ADDRESS();

WRONG_TOKEN_AMOUNT

Raised when the amount specified in input or output token compositions is wrong with respect to the requested operation.

error WRONG_TOKEN_AMOUNT();

UNKNOWN_COLLECT_OPERATION

Raised when an enum key not defined in CollectOperation is provided as the operation code for _collect function.

error UNKNOWN_COLLECT_OPERATION();

UNKNOWN_OPERATE_OPERATION

Raised when an enum key not defined in OperateOperation is provided as the operation code for _operate function.

error UNKNOWN_OPERATE_OPERATION();

UNKNOWN_UNDERLYING_PROTOCOL

Raised when an enum key not defined in UnderlyingProtocol is provided as the target protocol for _optimizerFor function.

error UNKNOWN_UNDERLYING_PROTOCOL();

UNSUPPORTED_PROTOCOL_REWARDS

Raised when an enum key not defined in UnderlyingProtocol, or the enum key UnderlyingProtocol.AAVE_V2 is provided as the target protocol for _collect function.

Note: Currently, AAVE V2 rewards are not supported.

error UNSUPPORTED_PROTOCOL_REWARDS();

Enums

UnderlyingProtocol

Defines the supported underlying protocols in Morpho.

enum UnderlyingProtocol {
    COMPOUND,
    AAVE_V2,
    AAVE_V3
}

CollectOperation

Defines the actions for collecting rewards (Collect Operation) from the Morpho protocol:

CLAIM_PROTOCOL_REWARDS: Claim rewards from a supported underlying protocol accrued through Morpho
CLAIM_MORPHO_REWARDS: Claim rewards accrued by using Morpho

enum CollectOperation {
    CLAIM_PROTOCOL_REWARDS,
    CLAIM_MORPHO_REWARDS
}

OperateOperation

Defines the actions available with respect to Operate Operations:

BORROW: Borrow funds via Morpho
REPAY: Repay borrowed funds via Morpho
LIQUIDATE: Liquidate a user by repaying their borrowed funds and seizing their collateral
SUPPLY_COLLATERAL: Supply an underlying asset as collateral position
WITHDRAW_COLLATERAL: Withdraw supplied collateral position

enum OperateOperation {
    BORROW,
    REPAY,
    LIQUIDATE,
    SUPPLY_COLLATERAL,
    WITHDRAW_COLLATERAL
}

Structs

DepositExtraData

Defines the necessary data required for performing deposit actions.

struct DepositExtraData {
    UnderlyingProtocol protocol;
    address poolToken;
}

Members

Name	Type	Description
`protocol`	`UnderlyingProtocol`	The target underlying protocol
`poolToken`	`address`	The address of the target pool token (i.e. the address of the pool itself)

WithdrawExtraData

Defines the necessary data required for performing withdraw actions.

struct WithdrawExtraData {
    UnderlyingProtocol protocol;
    address poolToken;
}

Members

Name	Type	Description
`protocol`	`UnderlyingProtocol`	The target underlying protocol
`poolToken`	`address`	The address of the target pool token (i.e. the address of the pool itself)

CollectExtraData

Defines the necessary data required for performing collect actions.

struct CollectExtraData {
    CollectOperation collectOperation;
    UnderlyingProtocol protocol;
    bytes collectOperationExtraData;
}

Members

Name	Type	Description
`collectOperation`	`CollectOperation`	The action to conduct
`protocol`	`UnderlyingProtocol`	The target underlying protocol
`collectOperationExtraData`	`bytes`	Additional ABI encoded data related to the operation ( a , b )

CollectProtocolRewardsData

Defines an underlying protocol's associated assets to claim rewards from.

struct CollectProtocolRewardsData {
    address[] assets;
}

Members

Name	Type	Description
`assets`	`address[]`	Array with assets' addresses to claim rewards from. The specific assets depend on the underlying protocol: - For Compound: cTokens - For Aave V3: aTokens and/or debtTokens Note: Currently, AAVE V2 rewards are not supported.

CollectMorphoRewardsData

Defines the necessary data for collecting rewards accrued through Morpho.

struct CollectMorphoRewardsData {
    address rewardsDistributor;
    uint256 claimable;
    bytes32[] proof;
}

Members

Name	Type	Description
`rewardsDistributor`	`address`	The address of the target RewardsDistributor
`claimable`	`uint256`	The amount to claim
`proof`	`bytes32[]`	The Merkle proof that validates the claim

OperateExtraData

Defines the necessary data required for performing operate actions.

struct OperateExtraData {
    OperateOperation operateOperation;
    UnderlyingProtocol protocol;
    address poolToken;
    bytes liquidateExtraData;
}

Members

Name	Type	Description
`operateOperation`	`OperateOperation`	The action to conduct
`protocol`	`UnderlyingProtocol`	The target underlying protocol
`poolToken`	`address`	The address of the target pool token (i.e. the address of the pool itself)
`liquidateExtraData`	`bytes`	Additional ABI encoded data related to the operation ( a , b )Note: Only applies when the operate related action is set to `OperateOperation.LIQUIDATE`. Should be empty for any other operate action

Defines the necessary data required for invoking the liquidate() function of the respective Morpho Optimizer contract associated with a target underlying protocol. It encapsulates the necessary data for repaying a user's borrowed position and seizing their collateral.

struct LiquidateExtraDataGeneric {
    address poolTokenBorrowed;
    address poolTokenCollateral;
    address borrower;
}

Members

Name	Type	Description
`poolTokenBorrowed`	`address`	The address of the borrowed pool token to repay
`poolTokenCollateral`	`address`	The address of the collateral pool token to seize
`borrower`	`address`	The address of the borrower to liquidate

LiquidateExtraDataAAVEV3

Defines the necessary data required for invoking the liquidate() function of the Aave V3 Morpho Optimizer contract. It encapsulates the necessary data for repaying a user's borrowed position and seizing their collateral.

struct LiquidateExtraDataAAVEV3 {
    address borrower;
}

Members

Name	Type	Description
`borrower`	`address`	The address of the borrower to liquidate

Layout

Used to store crucial data for the Adapter's functionality in a specific storage slot.

struct Layout {
    IMorphoOptimizer compoundOptimizer;
    IMorphoOptimizer aaveV2Optimizer;
    IMorphoOptimizer aaveV3Optimizer;
}

Members

Name	Type	Description
`compoundOptimizer`	`IMorphoOptimizer`	The address of the Compound V2 Optimizer
`aaveV2Optimizer`	`IMorphoOptimizer`	The address of the Aave V2 Optimizer
`aaveV3Optimizer`	`IMorphoOptimizer`	The address of the Aave V3 Optimizer

State Variables

AAVE_V3_SUPPLY_MAX_ITERATIONS

The maximum number of iterations allowed during the peer-to-peer matching process when supplying assets to Aave V3 via the associated Morpho Optimizer. This value is suggested by Morpho (see here).

uint256 internal constant AAVE_V3_SUPPLY_MAX_ITERATIONS = 4;

AAVE_V3_BORROW_MAX_ITERATIONS

The maximum number of iterations allowed during the peer-to-peer matching process when borrowing assets from Aave V3 via the associated Morpho Optimizer. This value is suggested by Morpho (see here).

uint256 internal constant AAVE_V3_BORROW_MAX_ITERATIONS = 4;

AAVE_V3_WITHDRAW_MAX_ITERATIONS

The maximum number of iterations allowed during the peer-to-peer matching process when withdrawing assets from Aave V3 via the associated Morpho Optimizer. This value is used to fallback to the default number of iterations for withdrawals (see here).

uint256 internal constant AAVE_V3_WITHDRAW_MAX_ITERATIONS = 0;

STORAGE_SLOT

Unique identifier for the storage slot where the Layout struct is stored.

bytes32 internal immutable STORAGE_SLOT;

Constructor

Sets the value of the STORAGE_SLOT state variable.

The value is computed as the keccak256 hash of the abi encoding of:

The Nexera-FI.MorphoAdapter string literal
The address of this contract (MorphoAdapter)

constructor();

Functions

initialize

Initializes the Adapter.

function initialize(bytes calldata initData_) external override;

Parameters

Name	Type	Description
`initData_`	`bytes`	The ABI encoded Layout data

_swap

This function always raises the OPERATION_NOT_SUPPORTED error, as SWAP is not an action supported within Morpho's Optimizers.

Called by executeAction function.

function _swap(
    IAdapter.TokenAmount[] calldata /*out*/,
    IAdapter.TokenAmount[] calldata /*expectedIn*/,
    bytes calldata /*extraData*/
) internal virtual override;

_deposit

Internal function for handling Deposit Operations.

This function is responsible for depositing assets to an underlying protocol via invoking the supply method of the associated Morpho Optimizer.

Called by executeAction function.

function _deposit(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn,
    bytes calldata extraData
) internal virtual override;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send. Notes: - The length of the array must equal one (no batch deposits supported in Morpho). - The `token` field should match the underlying token of the `poolToken` defined in the provided extraData parameter (e.g. DAI for cDAI pool in Compound).
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the expected token compositions to receive. Note: - Should be zero-length array (Morpho does not return any tokens on supply)
`extraData`	`bytes`	ABI encoded data of type `DepositExtraData` indicating the underlying protocol, and the target pool token (i.e. the address of the pool itself)

_withdraw

Internal function for handling Withdraw Operations.

This function is responsible for withdrawing deposited funds from an underlying protocol via invoking the withdraw method of the associated Morpho Optimizer.

Called by executeAction function.

function _withdraw(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn,
    bytes calldata extraData
) internal virtual override;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send. Note: - Should be zero-length array (Morpho does not consume any tokens on withdraw)
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the expected token compositions to receive. Notes: - The length of the array must equal one (no batch withdrawals supported in Morpho). - The `token` field should match the underlying token of the `poolToken` defined in the provided extraData parameter (e.g. USDT for cUSDT pool in Compound). - If `amount` field holds a value greater than available balance, the available balance is withdrawn. Thus, `type(uint256).max` can be used to fully withdraw.
`extraData`	`bytes`	ABI encoded data of type `WithdrawExtraData` indicating the underlying protocol, and the target pool token (i.e. the address of the pool itself)

_collect

Internal function for handling Collect Operations.

This function is employed to retrieve rewards from underlying protocols or from Morpho itself.

Called by executeAction function.

function _collect(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata /*expectedIn*/,
    bytes calldata extraData
) internal virtual override;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send. Note: - Should be zero-length array as nothing is deposited in this context
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the expected token compositions to receive as rewards. Note: - Can be a zero-length array in case the tokens to be received are not known
`extraData`	`bytes`	ABI encoded data of type `CollectExtraData` Notes: - For `collectOperation == CLAIM_PROTOCOL_REWARDS`: see CollectProtocolRewardsData - For `collectOperation == CLAIM_MORPHO_REWARDS`: see CollectMorphoRewardsData

_operate

Internal function for handling Operate Operations.

This function is used for:

Borrowing funds from underlying protocols via Morpho
Repaying borrowed funds via Morpho
Liquidating borrow positions via Morpho
Supplying underlying assets as collateral via Morpho
Withdrawing supplied collateral positions

Called by executeAction function.

function _operate(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn,
    bytes calldata extraData
) internal virtual override;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the respective Morpho Optimizer.
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the respective Morpho Optimizer
`extraData`	`bytes`	ABI encoded data of type `OperateExtraData`

_claimCompoundRewards

Internal helper function for claiming Compound rewards, by invoking Morpho's Compound V2 Optimizer claimRewards function.

Called by _collect function.

function _claimCompoundRewards(CollectProtocolRewardsData memory data) internal;

Parameters

Name	Type	Description
`data`	`CollectProtocolRewardsData`	Struct defining the associated assets to claim rewards from.Note:-`data.assets`: List of cTokens to claim rewards from

_claimAaveV3Rewards

Internal helper function for claiming Aave V3 rewards, by invoking Morpho's Aave V3 Optimizer claimRewards function.

Called by _collect function.

function _claimAaveV3Rewards(CollectProtocolRewardsData memory data) internal;

Parameters

Name	Type	Description
`data`	`CollectProtocolRewardsData`	Struct defining the associated assets to claim rewards from.Note:-`data.assets`: List of aTokens and/or debtTokens to claim rewards from

_claimMorphoRewards

Internal helper function for claiming Morpho rewards, by invoking Morpho's RewardsDistributor claim function.

Called by _collect function.

function _claimMorphoRewards(CollectMorphoRewardsData memory data) internal;

Parameters

Name	Type	Description
`data`	`CollectMorphoRewardsData`	Struct defining the necessary data to claim rewards from Morpho.Note:-`data.rewardsDistributor`: Address of the RewardsDistributor contract-`data.claimable`: Amount to claim-`data.proof`: Merkle proof that validates the claim

_borrowGeneric

Internal helper function for borrowing funds via Morpho Protocol, by invoking the borrow function of the associated Morpho Optimizer.

Called by _operate function.

function _borrowGeneric(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn,
    UnderlyingProtocol protocol,
    address poolToken
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the respective Morpho Optimizer.Note:Should be zero-length array (Morpho does not consume any tokens on borrow)
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the respective Morpho Optimizer.Note:-`token` field should hold the underlying token address of the underlying protocol (e.g. USDT for cUSDT pool in Compound)-`amount` field should hold the amount to borrow
`protocol`	`UnderlyingProtocol`	The target underlying protocol
`poolToken`	address	The address of the target pool (e.g. cUSDT for Compound USDT pool)

_repayGeneric

Internal helper function for repaying borrowed funds via Morpho Protocol, by invoking the repay function of the associated Morpho Optimizer.

Called by _operate function.

function _repayGeneric(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn,
    UnderlyingProtocol protocol,
    address poolToken        
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the respective Morpho Optimizer.Note:-`token` field should hold the underlying token address of the underlying protocol (e.g. USDT for cUSDT pool in Compound)-`amount` field should hold the amount to repay
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the respective Morpho Optimizer.Note:Should be zero-length array (Morpho does not return any tokens on repay)
`protocol`	`UnderlyingProtocol`	The target underlying protocol
`poolToken`	address	The address of the target pool (e.g. cUSDT for Compound USDT pool)

_liquidateGeneric

Internal helper function for liquidating borrowed positions via Morpho Protocol, by invoking the liquidate function of the associated Morpho Optimizer.

Called by _operate function.

function _liquidateGeneric(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn,
    UnderlyingProtocol protocol,
    LiquidateExtraDataGeneric memory liquidateExtraData
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the respective Morpho Optimizer.Note:- The length of the array must equal one.-`token` field should hold the underlying borrowed token address to be repaid (i.e. should match the `liquidateExtraData.poolTokenBorrowed`).-`amount` field should hold the amount to repay.
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the respective Morpho Optimizer.Note:Should be zero-length array
`protocol`	`UnderlyingProtocol`	The target underlying protocol
`liquidateExtraData`	LiquidateExtraDataGeneric	Struct defining the necessary data for liquidating borrowed positions

_borrowAAVEV3

Internal helper function for borrowing funds from Aave V3 via Morpho Protocol, by invoking the borrow function of the Aave V3 Morpho Optimizer.

Called by _operate function.

function _borrowAAVEV3(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the Aave V3 Morpho Optimizer.Note:Should be zero-length array (Morpho does not consume any tokens on borrow)
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the respective Morpho Optimizer.Note:-`token` field should hold the underlying token address of the underlying protocol (e.g. WETH)-`amount` field should hold the amount to borrow

_repayAAVEV3

Internal helper function for repaying borrowed funds to Aave V3 via Morpho Protocol, by invoking the repay function of the Aave V3 Morpho Optimizer.

Called by _operate function.

function _repayAAVEV3(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the Aave V3 Morpho Optimizer.Note:-`token` field should hold the underlying token address of the underlying protocol (e.g. WETH)-`amount` field should hold the amount to repay
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the respective Morpho Optimizer.Note:Should be zero-length array (Morpho does not return any tokens on repay)

_liquidateAAVEV3

Internal helper function for liquidating borrowed positions in Aave V3 via Morpho Protocol, by invoking the liquidate function of the Aave V3 Morpho Optimizer.

Called by _operate function.

function _liquidateAAVEV3(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn,
    LiquidateExtraDataAAVEV3 memory liquidateExtraData        
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the Aave V3 Morpho Optimizer.Note:- The length of the array must equal one.-`token` field should hold the underlying borrowed token address to be repaid.-`amount` field should hold the amount to repay.
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the respective Morpho Optimizer.Note:- The length of the array must equal one.-`token` field should hold the collateral address.
`liquidateExtraData`	LiquidateExtraDataAAVEV3	Struct containing the address of the borrower to liquidate

_supplyCollateralAAVEV3

Internal helper function for supplying underlying collateral to Aave V3 via Morpho Protocol, by invoking the supplyCollateral function of the Aave V3 Morpho Optimizer.

Called by _operate function.

function _supplyCollateralAAVEV3(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn     
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the Aave V3 Morpho Optimizer.Note:-`token` field should hold the underlying token address (e.g. WETH)-`amount` field should hold the amount to supply
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the Aave V3 Morpho Optimizer.Note:Should be zero-length array (Morpho does not return any tokens on supplyCollateral)

_withdrawCollateralAAVEV3

Internal helper function for withdrawing underlying collateral from Aave V3 via Morpho Protocol, by invoking the withdrawCollateral function of the Aave V3 Morpho Optimizer.

Called by _operate function.

function _withdrawCollateralAAVEV3(
    IAdapter.TokenAmount[] calldata out,
    IAdapter.TokenAmount[] calldata expectedIn   
) internal;

Parameters

Name	Type	Description
`out`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to send to the Aave V3 Morpho Optimizer.Note:Should be zero-length array (Morpho does not consume any token on withdrawCollateral)
`expectedIn`	`IAdapter.TokenAmount[]`	Array of `TokenAmount` structs defining the token compositions to receive from the Aave V3 Morpho Optimizer.Note:-`token` field should hold the underlying token address (e.g. wstETH)-`amount` field should hold the amount to withdraw

_optimizerFor

Returns the address of the Morpho protocol Optimizer.

function _optimizerFor(UnderlyingProtocol protocol) internal view returns(IMorphoOptimizer);

Parameters

Name	Type	Description
`protocol`	`UnderlyingProtocol`	The target underlying protocol

Returns

Name	Type	Description
`<none>`	`IMorphoOptimizer`	The address of the Morpho optimizer for `protocol`

layout

Retrieves a reference to the Layout struct stored at the storage slot specified by STORAGE_SLOT.

function layout() internal view returns (Layout storage l);

MorphoAdapter

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