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✨ auditor: support non-collateral markets - #815

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non-collateral-markets
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non-collateral-markets

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@patitonar

@patitonar patitonar commented Aug 10, 2026 •

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Summary by CodeRabbit

  • New Features

    • Added support for markets that can be used for borrowing but not counted as collateral.
    • Administrators can designate or update a market’s collateral eligibility.
    • Health, liquidity, liquidation, withdrawal, and debt previews now reflect non-collateral market behavior.
    • Deployment configuration supports enabling and synchronizing this setting.
  • Compatibility

    • Existing market data and legacy integrations remain supported when the new setting is unavailable.

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changeset-bot Bot commented Aug 10, 2026 •

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🦋 Changeset detected

Latest commit: 71f7df6

The changes in this PR will be included in the next version bump.

This PR includes changesets to release 1 package
Name Type
@exactly/protocol Minor

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  • .gas-snapshot
  • contracts/Auditor.sol
  • test/Auditor.t.sol
  • test/Protocol.t.sol

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Walkthrough

Auditor adds configurable non-collateral markets. Collateral, liquidity, liquidation, bad-debt, and preview calculations exclude these markets while retaining debt accounting. Deployment scripts, periphery contracts, upgrade compatibility, and protocol tests support the expanded market metadata.

Changes

Non-collateral market support

Layer / File(s) Summary
Auditor collateral-status rules
contracts/Auditor.sol, test/Auditor.t.sol, test/Protocol.t.sol
Auditor stores and updates nonCollateral. Collateral valuation, market entry, liquidation collateral, and bad-debt checks exclude flagged markets while debt remains included.
Periphery calculations and market wiring
contracts/periphery/*, deploy/Markets.ts, hardhat.config.ts, test/hardhat/*
Periphery previews consume the expanded market tuple and exclude non-collateral balances from collateral calculations. Deployment configuration supports optional market flags and synchronizes compatible Auditors.
Upgrade compatibility
test/Auditor.t.sol, test/hardhat/1_auditor.ts, test/DebtManager.t.sol, test/DebtPreviewer.t.sol
Upgrade tests preserve legacy market state and getter decoding while validating the new flag and post-upgrade operations.
Market and verified-account behavior
test/Market.t.sol, test/VerifiedMarket.t.sol, test/DebtManager.t.sol, test/DebtPreviewer.t.sol, test/IntegrationPreviewer.t.sol, test/Previewer.t.sol
Tests cover borrowing, deleveraging, withdrawals, liquidation, bad debt, locking, debt rolls, previews, and debt socialization with non-collateral supply.

Estimated code review effort: 4 (Complex) | ~60 minutes

Sequence Diagram(s)

sequenceDiagram
  participant Admin
  participant Auditor
  participant Previewer
  participant Market
  Admin->>Auditor: enableMarket(..., nonCollateral)
  Auditor-->>Previewer: return market metadata and nonCollateral
  Previewer->>Market: calculate collateral and debt effects
  Market->>Auditor: execute liquidity or liquidation check
  Auditor-->>Market: exclude non-collateral collateral and retain debt
Loading

Merge Risk: 🔵 Low · up to 1337d

Non-collateral markets now affect collateral, borrowing, liquidation, and preview behavior. Merge readiness is low risk, but two regression tests still do not specifically verify the admin restriction and zero-collateral liquidation rejection.

🚥 Pre-merge checks | ✅ 4
✅ Passed checks (4 passed)
Check name Status Explanation
Description Check ✅ Passed Check skipped - CodeRabbit’s high-level summary is enabled.
Title check ✅ Passed The title clearly and concisely describes the main change: adding Auditor support for non-collateral markets.
Linked Issues check ✅ Passed Check skipped because no linked issues were found for this pull request.
Out of Scope Changes check ✅ Passed Check skipped because no linked issues were found for this pull request.
✨ Finishing Touches
🧪 Generate unit tests (beta)
  • Create PR with unit tests
  • Commit unit tests in branch non-collateral-markets
✨ Simplify code
  • Create PR with simplified code
  • Commit simplified code in branch non-collateral-markets

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Actionable comments posted: 2

Caution

Some comments are outside the diff and can’t be posted inline due to platform limitations.

⚠️ Outside diff range comments (1)
test/Protocol.t.sol (1)

630-641: 🎯 Functional Correctness | 🟡 Minor | ⚡ Quick win

Load metadata for collateralMarket.

Line 636 loads metadata for market again. Lines 637-641 value collateralMarket's balance. If the markets use different decimals or adjust factors, the bad-debt assertion calculates incorrect adjusted collateral.

Proposed fix
-      (b.adjustFactor, b.decimals, , , , ) = auditor.markets(market);
+      (b.adjustFactor, b.decimals, , , , ) = auditor.markets(collateralMarket);

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Reviewing files that changed from the base of the PR and between 695096d and 9fd6a42.

📒 Files selected for processing (28)
  • .changeset/brave-otter-glides.md
  • .gas-snapshot
  • contracts/Auditor.sol
  • contracts/periphery/DebtManager.sol
  • contracts/periphery/DebtPreviewer.sol
  • contracts/periphery/DebtRoller.sol
  • contracts/periphery/InstallmentsRouter.sol
  • contracts/periphery/IntegrationPreviewer.sol
  • contracts/periphery/Previewer.sol
  • deploy/Markets.ts
  • hardhat.config.ts
  • test/Auditor.t.sol
  • test/AuditorUpgrade.t.sol
  • test/DebtManager.t.sol
  • test/DebtPreviewer.t.sol
  • test/DebtRoller.t.sol
  • test/InstallmentsRouter.t.sol
  • test/IntegrationPreviewer.t.sol
  • test/Market.t.sol
  • test/Pauser.t.sol
  • test/Previewer.t.sol
  • test/Protocol.t.sol
  • test/RewardsController.t.sol
  • test/VerifiedMarket.t.sol
  • test/hardhat/0_admin.ts
  • test/hardhat/1_auditor.ts
  • test/hardhat/defaultEnv.ts
  • test/hardhat/marketEnv.ts

Comment thread test/AuditorUpgrade.t.sol Outdated
Comment thread test/Market.t.sol

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Comment thread deploy/Markets.ts Outdated
Comment thread contracts/Auditor.sol Outdated
Comment thread contracts/Auditor.sol
Comment thread contracts/periphery/DebtManager.sol
@patitonar
patitonar force-pushed the non-collateral-markets branch from 9fd6a42 to d4a2b81 Compare August 10, 2026 19:38

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Comment thread contracts/periphery/DebtRoller.sol
Comment thread contracts/periphery/Previewer.sol
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Codecov Report

❌ Patch coverage is 96.72131% with 2 lines in your changes missing coverage. Please review.
✅ Project coverage is 94.79%. Comparing base (4b5fec7) to head (71f7df6).

Files with missing lines Patch % Lines
contracts/periphery/DebtPreviewer.sol 93.75% 2 Missing ⚠️
Additional details and impacted files
@@            Coverage Diff             @@
##             main     #815      +/-   ##
==========================================
- Coverage   94.82%   94.79%   -0.04%     
==========================================
  Files          31       31              
  Lines        2724     2745      +21     
  Branches      457      368      -89     
==========================================
+ Hits         2583     2602      +19     
- Misses        140      142       +2     
  Partials        1        1              

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@patitonar
patitonar force-pushed the non-collateral-markets branch from d4a2b81 to ce13b65 Compare August 25, 2026 19:46

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Comment thread contracts/periphery/IntegrationPreviewer.sol

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Actionable comments posted: 4


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  • .gas-snapshot
  • contracts/Auditor.sol
  • hardhat.config.ts
  • test/Auditor.t.sol
  • test/AuditorUpgrade.t.sol
  • test/Market.t.sol
  • test/Protocol.t.sol

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Comment thread contracts/Auditor.sol
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Comment thread test/AuditorUpgrade.t.sol Outdated
Comment thread test/Protocol.t.sol
@patitonar
patitonar force-pushed the non-collateral-markets branch from ce13b65 to d764c05 Compare August 31, 2026 19:51

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Comment thread contracts/periphery/DebtPreviewer.sol
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Actionable comments posted: 1


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Comment thread test/Auditor.t.sol
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patitonar force-pushed the non-collateral-markets branch from d764c05 to 6c022f3 Compare September 1, 2026 15:51

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Comment thread contracts/periphery/IntegrationPreviewer.sol

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