MorphoVaultV1Adapter

Code

Introduction

MorphoVaultV1Adapter is an adapter that connects a Morpho Vault V2 to a Morpho Vault V1. It wraps deposits and withdrawals to/from the underlying Vault V1 on behalf of the parent Vault V2.

Timelock System

This adapter has no timelock system. All functions are callable directly by their respective roles with no submit/execute delay.

Immutables

Name	Type	Description
`factory`	address	The factory contract that deployed this adapter.
`parentVault`	address	The Morpho Vault V2 that this adapter belongs to.
`morphoVaultV1`	address	The Morpho Vault V1 (MetaMorpho) contract that this adapter deposits into.
`adapterId`	bytes32	Unique identifier for this adapter instance, computed as `keccak256(abi.encode("this", address(this)))`.

Owner Functions

`setSkimRecipient`

function setSkimRecipient(address newSkimRecipient) external

Sets the address that receives skimmed token balances.

Callable by: Owner of the parent vault (instant — no timelock)

Parameters:

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

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. Must not be the `morphoVaultV1` share token.

`allocate`

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

Deposits assets into the underlying Morpho Vault V1.

Callable by: parentVault

Parameters:

Name	Type	Description
`data`	bytes	Must be empty (`0x`).
`assets`	uint256	The amount of assets to deposit.

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 (contains `adapterId`).
`delta`	int256	The change in allocation (new allocation minus old allocation).

`deallocate`

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

Withdraws assets from the underlying Morpho Vault V1 back to the parent vault.

Callable by: parentVault

Parameters:

Name	Type	Description
`data`	bytes	Must be empty (`0x`).
`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 (contains `adapterId`).
`delta`	int256	The change in allocation (new allocation minus old allocation).

View Functions

`realAssets`

function realAssets() external view returns (uint256)

Returns the current value of the adapter's Vault V1 share balance in underlying assets. Returns 0 if the parent vault has no recorded allocation for this adapter.

Return Values:

Name	Type	Description
`assets`	uint256	The current value of held Vault V1 shares, or `0` if allocation is zero.

`allocation`

function allocation() public view returns (uint256)

Returns the vault's current allocation for this adapter, as recorded in the parent vault (keyed by adapterId).

Return Values:

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

`ids`

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

Returns the allocation IDs used by this adapter. Contains a single entry: adapterId.

Return Values:

Name	Type	Description
`ids_`	bytes32[]	Array of 1 ID: `adapterId` (`keccak256(abi.encode("this", address(this)))`).

`skimRecipient`

address public skimRecipient

Returns the address that receives skimmed token balances.

Return Values:

Name	Type	Description
`recipient`	address	The current skim recipient address.