MorphoMarketV1AdapterV2

Code

Introduction

MorphoMarketV1AdapterV2 is an adapter that connects a Morpho Vault V2 to Morpho Market V1. It manages supply positions across multiple markets and implements its own timelock system using the same submit/execute pattern as Morpho Vault V2, with its own distinct set of timelocked functions.

Function Selectors

Timelocked Functions and Selectors

Function Name	Selector
`increaseTimelock`	`0x47966291`
`decreaseTimelock`	`0x5c1a1a4f`
`abdicate`	`0xb2e32848`
`setSkimRecipient`	`0x2b30997b`
`burnShares`	`0x3b2de5ac`

Immutables

Name	Type	Description
`factory`	address	The factory contract that deployed this adapter.
`parentVault`	address	The Morpho Vault V2 that this adapter belongs to.
`asset`	address	The underlying asset of the parent vault (must match the loan token of all managed markets).
`morpho`	address	The Morpho (Morpho Blue) contract address.
`adapterId`	bytes32	Unique identifier for this adapter instance, computed as `keccak256(abi.encode("this", address(this)))`.
`adaptiveCurveIrm`	address	The AdaptiveCurveIRM address. All managed markets must use this IRM.

Timelock System

The timelock system works identically to the one in Morpho Vault V2. The curator must submit a timelocked action, wait for the timelock to expire, then anyone can call the function directly.

`submit`

function submit(bytes calldata data) external

Submits a timelocked action for later execution.

Callable by: Curator

Parameters:

Name	Type	Description
`data`	bytes	The ABI-encoded function call data.

`revoke`

function revoke(bytes calldata data) external

Cancels a pending timelocked action.

Callable by: Curator, Sentinel

Parameters:

Name	Type	Description
`data`	bytes	The ABI-encoded function call data to revoke.

`increaseTimelock`

function increaseTimelock(bytes4 selector, uint256 newDuration) external

Increases the timelock duration for a specific function selector.

Callable by: Curator (timelocked — submit first, then anyone can execute after delay)

Selector: 0x47966291

Parameters:

Name	Type	Description
`selector`	bytes4	The function selector whose timelock to increase.
`newDuration`	uint256	The new timelock duration in seconds. Must be greater than or equal to the current duration.

`decreaseTimelock`

function decreaseTimelock(bytes4 selector, uint256 newDuration) external

Decreases the timelock duration for a specific function selector. This action's own timelock equals the current timelock of the function being decreased.

Callable by: Curator (timelocked — submit first, then anyone can execute after delay)

Selector: 0x5c1a1a4f

Parameters:

Name	Type	Description
`selector`	bytes4	The function selector whose timelock to decrease.
`newDuration`	uint256	The new timelock duration in seconds. Must be less than or equal to the current duration.

`abdicate`

function abdicate(bytes4 selector) external

Irreversibly disables the ability to execute a specific type of action.

Callable by: Curator (timelocked — submit first, then anyone can execute after delay)

Selector: 0xb2e32848

Parameters:

Name	Type	Description
`selector`	bytes4	The function selector to permanently abdicate.

Curator Functions

`setSkimRecipient`

function setSkimRecipient(address newSkimRecipient) external

Sets the address that receives skimmed token balances (e.g., reward tokens earned by the adapter).

Callable by: Curator (timelocked — submit first, then anyone can execute after delay)

Selector: 0x2b30997b

Parameters:

Name	Type	Description
`newSkimRecipient`	address	The new skim recipient address.

`burnShares`

function burnShares(bytes32 marketId) external

Burns the adapter's tracked supply shares for a market, setting supplyShares[marketId] to zero.

Callable by: Curator (timelocked — submit first, then anyone can execute after delay)

Selector: 0x3b2de5ac

Parameters:

Name	Type	Description
`marketId`	bytes32	The market ID whose shares to burn.

Other Functions

`skim`

function skim(address token) external

Transfers the adapter's entire balance of token to skimRecipient.

Callable by: skimRecipient

Parameters:

Name	Type	Description
`token`	address	The token to skim.

`allocate`

function allocate(bytes memory data, uint256 assets, bytes4, address) external returns (bytes32[] memory, int256)

Supplies assets into the specified Morpho Market V1 market.

Callable by: parentVault

Parameters:

Name	Type	Description
`data`	bytes	ABI-encoded `MarketParams` struct identifying the target market.
`assets`	uint256	The amount of assets to supply.

The bytes4 and address parameters are part of the shared adapter interface but unused by this implementation.

Return Values:

Name	Type	Description
`ids`	bytes32[]	The allocation IDs affected by this operation.
`delta`	int256	The change in allocation (new allocation minus old allocation). Positive for `allocate`, negative for `deallocate`.

`deallocate`

function deallocate(bytes memory data, uint256 assets, bytes4, address) external returns (bytes32[] memory, int256)

Withdraws assets from the specified Morpho Market V1 market back to the parent vault.

Callable by: parentVault

Parameters:

Name	Type	Description
`data`	bytes	ABI-encoded `MarketParams` struct identifying the target market.
`assets`	uint256	The amount of assets to withdraw.

The bytes4 and address parameters are part of the shared adapter interface but unused by this implementation.

Return Values:

Name	Type	Description
`ids`	bytes32[]	The allocation IDs affected by this operation.
`delta`	int256	The change in allocation (new allocation minus old allocation). Positive for `allocate`, negative for `deallocate`.

View Functions

`realAssets`

function realAssets() external view returns (uint256)

Returns the total expected supply assets across all managed markets, used by the parent vault during interest accrual.

Return Values:

Name	Type	Description
`assets`	uint256	The total assets across all markets in `marketIds`.

`expectedSupplyAssets`

function expectedSupplyAssets(bytes32 marketId) public view returns (uint256)

Returns the expected supply assets for a specific market, accounting for the adapter's internal share balance.

Parameters:

Name	Type	Description
`marketId`	bytes32	The market ID to query.

Return Values:

Name	Type	Description
`assets`	uint256	The expected supply assets for the given market.

`allocation`

function allocation(MarketParams memory marketParams) public view returns (uint256)

Returns the vault's current allocation for this market, as recorded in the parent vault.

Parameters:

Name	Type	Description
`marketParams`	MarketParams	The market parameters struct.

Return Values:

Name	Type	Description
`assets`	uint256	The current allocation amount in the parent vault.

`ids`

function ids(MarketParams memory marketParams) public view returns (bytes32[] memory)

Returns the three allocation IDs used by this adapter for a given market.

Parameters:

Name	Type	Description
`marketParams`	MarketParams	The market parameters struct.

Return Values:

Name	Type	Description
`ids_`	bytes32[]	Array of 3 IDs: `adapterId`, `keccak256(abi.encode("collateralToken", collateralToken))`, and `keccak256(abi.encode("this/marketParams", address(this), marketParams))`.

`marketIdsLength`

function marketIdsLength() external view returns (uint256)

Returns the number of markets currently tracked by this adapter. Use this as the upper bound when iterating over marketIds.

Return Values:

Name	Type	Description
`length`	uint256	The number of market IDs in `marketIds`.

`marketIds`

bytes32[] public marketIds

Returns the market ID at the given position in the list of markets with non-zero allocation currently managed by this adapter.

Parameters:

Name	Type	Description
`index`	uint256	The position in the array. Must be less than `marketIdsLength()`.

Return Values:

Name	Type	Description
`marketId`	bytes32	The market ID at the given index.

`timelock`

mapping(bytes4 selector => uint256) public timelock

Returns the timelock duration (in seconds) for a given function selector.

Parameters:

Name	Type	Description
`selector`	bytes4	The function selector to query.

Return Values:

Name	Type	Description
`duration`	uint256	The timelock duration in seconds for the given selector.

`abdicated`

mapping(bytes4 selector => bool) public abdicated

Returns whether the curator has permanently abdicated the ability to execute a specific action.

Parameters:

Name	Type	Description
`selector`	bytes4	The function selector to query.

Return Values:

Name	Type	Description
`isAbdicated`	bool	`true` if the curator has abdicated the given selector, `false` otherwise.

`executableAt`

function executableAt(bytes memory data) external view returns (uint256)

Returns the Unix timestamp (seconds) at which a submitted timelocked action becomes executable.

Parameters:

Name	Type	Description
`data`	bytes	The ABI-encoded function call data of the pending action.

Return Values:

Value	Meaning
`0`	No pending action (never submitted, already executed, or revoked)
`<= block.timestamp`	Action is currently executable (timelock has elapsed)
`> block.timestamp`	Not yet executable — equals `submissionTimestamp + timelock[selector]`

`supplyShares`

mapping(bytes32 marketId => uint256) public supplyShares

Returns the adapter's tracked supply shares for a given market.

Parameters:

Name	Type	Description
`marketId`	bytes32	The market ID to query.

Return Values:

Name	Type	Description
`shares`	uint256	The adapter's tracked supply shares for the given market.

`skimRecipient`

address public skimRecipient

Returns the address that receives skimmed token balances.