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fix(morpho-sdk): forward-accrue VaultV1 deposit for share-price slippage #797

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fix(morpho-sdk): forward-accrue VaultV1 deposit for share-price slippage #797

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a9223bb
fix(morpho-sdk): forward-accrue VaultV1 deposit for share-price slippage
Foulks-Plb Jun 16, 2026
e0e4aba
docs(morpho-sdk): trim VaultV1 deposit forward-accrual comment
Foulks-Plb Jun 16, 2026
d2efc7b
Merge branch 'main' into vault-v2-deposit-interest-accrual
Foulks-Plb Jul 13, 2026
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5 changes: 5 additions & 0 deletions .changeset/vaultv1-deposit-forward-accrual.md
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@@ -0,0 +1,5 @@
---
"@morpho-org/morpho-sdk": patch
---

Fix `MorphoVaultV1.deposit` deriving `maxSharePrice` from pre-accrue vault state. MetaMorpho's `deposit` calls `_accrueInterest()`, so the execution-time share price is `>=` the build-time one; without a forward-accrual buffer the slippage bound could be too tight and revert GeneralAdapter1's check with `SlippageExceeded`. VaultV1 deposit now forward-accrues interest by 2h before computing shares, mirroring `MorphoVaultV2.deposit` and blue repay.
15 changes: 14 additions & 1 deletion packages/morpho-sdk/src/entities/vaultV1/vaultV1.ts
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Expand Up @@ -223,7 +223,20 @@ export class MorphoVaultV1 implements VaultV1Actions {

const totalAssets = amount + (nativeAmount ?? 0n);

const shares = vaultData.toShares(totalAssets);
// Forward-accrue 2h so maxSharePrice bounds the execution-time price, like
// VaultV2 deposit and blue repay. MetaMorpho has no vault-level lastUpdate,
// so accrue to the latest of now and every allocated market's lastUpdate
// (accrueInterest throws below any market's lastUpdate).
const accrualTimestamp =
vaultData.allocations
.values()
.reduce(
(max, { position }) => MathLib.max(max, position.market.lastUpdate),
Time.timestamp(),
) + Time.s.from.h(2n);
const accruedVault = vaultData.accrueInterest(accrualTimestamp);

const shares = accruedVault.toShares(totalAssets);

@chatgpt-codex-connector chatgpt-codex-connector Bot Jun 16, 2026

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P2 Badge Round deposited shares down for the price bound

For deposits where the exact share amount is fractional, AccrualVault.toShares defaults to rounding up (packages/blue-sdk/src/vault/Vault.ts:190), while an ERC-4626 deposit mints the rounded-down share amount and the existing MetaMorpho operation path uses vault.toShares(assets, "Down") (packages/bundler-sdk-viem/src/actions.ts:841). This makes maxSharePrice use a larger denominator than the shares GA1 will actually observe, so with slippageTolerance: 0n or small/fractional deposits the transaction can still revert with the slippage check despite the forward accrual; pass "Down" here and keep the zero-share guard on that rounded-down value.

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Comment on lines +237 to +239

@chatgpt-codex-connector chatgpt-codex-connector Bot Jun 16, 2026

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P1 Badge Add regression coverage for VaultV1 forward accrual

Root AGENTS.md §2.10 says behavior-affecting package source changes must land with tests, but this commit changes the VaultV1 deposit maxSharePrice calculation and adds only source plus a changeset. Without an entity or fork regression test asserting the bound is computed from a forward-accrued VaultV1 state, the specific slippage regression this patch fixes can be reintroduced without any test failing.

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if (shares <= 0n) {
throw new NonPositiveSharesAmountError(this.vault);
}
Expand Down