Adds Morpho Rewards endpoint (#1544)

* rates working, need to adjust scaling factor

* dynamic morpho rate working

* change to morpho rate

* set mainnet pool id

* cleaned up

* use correct market name

* relative path

* cleanup hook

* remove position type

* remove position type

* update pool row

* updates per comments

apps/hyperdrive-trading/src/ui/markets/PoolRow.tsx

@@ -180,7 +180,6 @@ export function PoolRow({
                 <RewardsTooltip
                   hyperdriveAddress={hyperdrive.address}
                   chainId={hyperdrive.chainId}
-                  positionType="short"
                 >
                   {`${calculateMarketYieldMultiplier(longPrice).format({ decimals: 2, rounding: "trunc" })}x`}
                 </RewardsTooltip>
@@ -211,7 +210,6 @@ export function PoolRow({
             value={
               !lpApy.isNew ? (
                 <RewardsTooltip
-                  positionType="lp"
                   chainId={hyperdrive.chainId}
                   hyperdriveAddress={hyperdrive.address}
                 >

apps/hyperdrive-trading/src/ui/rewards/RewardsTooltip.tsx

@@ -8,20 +8,18 @@ import { Address } from "viem";
 export function RewardsTooltip({
   hyperdriveAddress,
   chainId,
-  positionType,
   children,
 }: PropsWithChildren<{
   hyperdriveAddress: Address;
   chainId: number;
-  positionType: "lp" | "short";
 }>): ReactNode {
   const hyperdrive = findHyperdriveConfig({
     hyperdrives: appConfig.hyperdrives,
     hyperdriveAddress: hyperdriveAddress,
     hyperdriveChainId: chainId,
   });
 
-  const rewards = useRewards(hyperdrive, positionType);
+  const rewards = useRewards(hyperdrive);
 
   if (!rewards || (rewards && rewards.length === 0)) {
     return children;

apps/hyperdrive-trading/src/ui/rewards/useMorphoRate.ts

@@ -0,0 +1,63 @@
+import { fixed, FixedPoint } from "@delvtech/fixed-point-wasm";
+import { useQuery } from "@tanstack/react-query";
+import { Address } from "viem";
+
+const marketPoolIds: Record<Address, string> = {
+  // Key: Hyperdrive contract address for the market
+  // Value: Corresponding Morpho pool ID
+  // Market:Base 182d Morpho cbETH/USDC
+  "0x2a1ca35Ded36C531F77c614b5AAA0d4F86edbB06":
+    "0xdba352d93a64b17c71104cbddc6aef85cd432322a1446b5b65163cbbc615cd0c",
+};
+
+export function useMorphoRate({
+  chainId,
+  hyperdriveAddress,
+}: {
+  chainId: number;
+  hyperdriveAddress: Address;
+}): {
+  morphoRate: FixedPoint | undefined;
+} {
+  const { data: rewardsData } = useQuery<
+    {
+      current_rates: {
+        per_dollar_per_year: string;
+        pool_ids: string[];
+      }[];
+    },
+    Error
+  >({
+    queryKey: ["morphoRate", chainId, hyperdriveAddress],
+    staleTime: Infinity,
+    retry: 3,
+    queryFn: async () => {
+      const response = await fetch(
+        `https://rewards.morpho.org/v1/programs/?chains=${chainId}&active=true&type=uniform-reward`,
+      );
+      const result = await response.json();
+      return result.data[0];
+    },
+  });
+
+  let morphoRate: FixedPoint | undefined = undefined;
+
+  if (rewardsData) {
+    const poolId = marketPoolIds[hyperdriveAddress];
+    let matchingRate = rewardsData.current_rates.find((rate) =>
+      rate.pool_ids.some((id) => id.toLowerCase().startsWith(poolId)),
+    )?.per_dollar_per_year;
+
+    // If there is no matching rate, just use the first one in the current_rates array
+    if (!matchingRate) {
+      matchingRate = rewardsData.current_rates[0].per_dollar_per_year;
+    }
+
+    // The morpho rate is formatted to 15 decimal places
+    morphoRate = fixed(matchingRate ?? 0, 15);
+  }
+
+  return {
+    morphoRate,
+  };
+}

apps/hyperdrive-trading/src/ui/rewards/useRewards.ts

@@ -1,8 +1,5 @@
-import { fixed, FixedPoint, parseFixed } from "@delvtech/fixed-point-wasm";
-import { PoolConfig, PoolInfo } from "@delvtech/hyperdrive-viem";
 import { HyperdriveConfig } from "@hyperdrive/appconfig";
-import { usePoolInfo } from "src/ui/hyperdrive/hooks/usePoolInfo";
-import { usePresentValue } from "src/ui/hyperdrive/hooks/usePresentValue";
+import { useMorphoRate } from "src/ui/rewards/useMorphoRate";
 import { Address } from "viem";
 import { base, linea, mainnet } from "viem/chains";
 
@@ -30,19 +27,6 @@ const eligibleMarketsForLineaRewards: Record<number, Address[]> = {
   ],
 };
 
-// Source: https://docs.morpho.org/rewards/concepts/programs
-// Mainnet Reward Rates
-const MorphoFlatRatePerDay = 1.45e-4;
-
-// Base Reward Rates
-const MorphoBaseFlatRatePerDay = 2.2e-4;
-
-// Convert to yearly rates
-const MorphoFlatRatePerYear = parseFixed(MorphoFlatRatePerDay * 365 * 1000);
-const MorphoBaseFlatRatePerYear = parseFixed(
-  MorphoBaseFlatRatePerDay * 365 * 1000,
-);
-
 type RewardType = "MorphoFlatRate" | "LineaLXPL";
 
 type Reward = {
@@ -51,37 +35,8 @@ type Reward = {
   amount: string;
 };
 
-function getWeightMorpho(
-  poolConfig: PoolConfig,
-  positionType: "short" | "lp",
-  poolInfo?: PoolInfo,
-  presentValue?: bigint,
-): FixedPoint {
-  if (!poolInfo || !presentValue) {
-    return parseFixed(0);
-  }
-
-  if (positionType === "short") {
-    return parseFixed(1, 18);
-  }
-
-  // Morpho share price is in 24 decimals, but FixedPoint only supports 18 max.
-  const shareReserves = fixed(poolInfo.shareReserves / BigInt(1e6));
-  const minShareReserves = fixed(poolConfig.minimumShareReserves / BigInt(1e6));
-  const netShareReserves = shareReserves.sub(minShareReserves);
-
-  return netShareReserves.div(presentValue);
-}
-
-export function useRewards(
-  hyperdrive: HyperdriveConfig,
-  positionType: "short" | "lp",
-): Reward[] | undefined {
-  const { poolInfo } = usePoolInfo({
-    chainId: hyperdrive.chainId,
-    hyperdriveAddress: hyperdrive.address,
-  });
-  const { presentValue } = usePresentValue({
+export function useRewards(hyperdrive: HyperdriveConfig): Reward[] | undefined {
+  const { morphoRate } = useMorphoRate({
     chainId: hyperdrive.chainId,
     hyperdriveAddress: hyperdrive.address,
   });
@@ -94,31 +49,14 @@ export function useRewards(
       hyperdrive.address,
     )
   ) {
-    const morphoRate =
-      hyperdrive.chainId === base.id
-        ? MorphoBaseFlatRatePerYear.mul(
-            getWeightMorpho(
-              hyperdrive.poolConfig,
-              positionType,
-              poolInfo,
-              presentValue,
-            ),
-          )
-        : MorphoFlatRatePerYear.mul(
-            getWeightMorpho(
-              hyperdrive.poolConfig,
-              positionType,
-              poolInfo,
-              presentValue,
-            ),
-          );
-
     const morphoReward: Reward = {
       id: "MorphoFlatRate",
       name: "MORPHO",
-      amount: morphoRate.format({
-        decimals: 2,
-      }),
+      amount: morphoRate
+        ? morphoRate.format({
+            decimals: 2,
+          })
+        : "0",
     };
     rewards.push(morphoReward);
   }