LiquidationAdapter

Inherits: Initializable, AccessControlledV8, ReentrancyGuardUpgradeable

Title: LiquidationAdapter

Manages whitelisted liquidators/settlers, routes liquidation calls to Institutional Vault vaults, receives seized collateral, and splits incentive between protocol and caller.

Deployed as a transparent proxy (upgradeable). Holds ACM for whitelist and config management.

Solidity API

State Variables

MANTISSA_ONE

uint256 public constant MANTISSA_ONE = 1e18

vaultController

InstitutionalVaultController address (vaults are validated via controller).

address public vaultController

isWhitelistedLiquidator

HF-based liquidators — can call liquidate() when LT shortfall > 0.

mapping(address => bool) public isWhitelistedLiquidator

isWhitelistedSettler

Deadline-based settlers — can call liquidateOverdueVault() in SettlementDeadlineExceeded.

mapping(address => bool) public isWhitelistedSettler

protocolLiquidationShare

Fraction of incentive portion to protocol (mantissa).

uint256 public protocolLiquidationShare

closeFactor

Max fraction of debt repayable per liquidation (mantissa). Global for all vaults.

uint256 public closeFactor

protocolShareAccrued

Accrued protocol share per collateral token. Swept to PSR via governance.

mapping(address => uint256) public protocolShareAccrued

Functions

constructor

Note: oz-upgrades-unsafe-allow: constructor

constructor();

initialize

Initializes the adapter proxy.

function initialize(
    address vaultController_,
    uint256 protocolLiquidationShare_,
    uint256 closeFactor_,
    address acm_
) external initializer;

Parameters

Name	Type	Description
vaultController_	address	VaultController address.
protocolLiquidationShare_	uint256	Initial protocol share of incentive (mantissa).
closeFactor_	uint256	Initial close factor (mantissa).
acm_	address	Venus AccessControlManager address.

setLiquidatorWhitelist

Add or remove a liquidator from the whitelist.

Note: event: LiquidatorWhitelistUpdated

function setLiquidatorWhitelist(address liquidator, bool approved) external;

Parameters

Name	Type	Description
liquidator	address	Address to update.
approved	bool	Whether to approve or remove.

setSettlerWhitelist

Add or remove a settler from the whitelist.

Note: event: SettlerWhitelistUpdated

function setSettlerWhitelist(address settler, bool approved) external;

Parameters

Name	Type	Description
settler	address	Address to update.
approved	bool	Whether to approve or remove.

setProtocolLiquidationShare

Set the protocol share of the liquidation incentive (mantissa).

Notes:

• error: InvalidShare if share > 1e18.

• event: ProtocolLiquidationShareUpdated

function setProtocolLiquidationShare(uint256 share) external;

Parameters

Name	Type	Description
share	uint256	New share (0 <= share <= 1e18).

setCloseFactor

Set max fraction of debt repayable per liquidation.

Notes:

• error: InvalidCloseFactor if zero or > 1e18.

• event: CloseFactorUpdated

function setCloseFactor(uint256 newCF) external;

Parameters

Name	Type	Description
newCF	uint256	New close factor (0 < newCF <= 1e18).

sweepProtocolShareToReserve

Transfer accrued protocol share for the given collateral token to PSR.

Note: event: ProtocolShareSweptToReserve

function sweepProtocolShareToReserve(address collateral) external;

Parameters

Name	Type	Description
collateral	address	Collateral token address.

liquidate

HF-based liquidation. Whitelisted liquidator only.

function liquidate(
    address vault,
    uint256 repayAmount
) external onlyWhitelistedLiquidator nonReentrant;

Parameters

Name	Type	Description
vault	address	Vault address to liquidate.
repayAmount	uint256	Amount of supply asset to repay.

liquidateOverdueVault

Deadline-based liquidation. Whitelisted settler only.

function liquidateOverdueVault(
    address vault,
    uint256 repayAmount
) external onlyWhitelistedSettler nonReentrant;

Parameters

Name	Type	Description
vault	address	Vault address to liquidate.
repayAmount	uint256	Amount of supply asset to repay.

renounceOwnership

Disabled — renouncing ownership would permanently brick ACM-gated liquidation governance.

Note: error: OwnershipCannotBeRenounced Always reverts.

function renounceOwnership() public pure override;

Events

LiquidatorWhitelistUpdated

event LiquidatorWhitelistUpdated(address indexed liquidator, bool approved);

SettlerWhitelistUpdated

event SettlerWhitelistUpdated(address indexed settler, bool approved);

ProtocolLiquidationShareUpdated

event ProtocolLiquidationShareUpdated(uint256 oldShare, uint256 newShare);

CloseFactorUpdated

event CloseFactorUpdated(uint256 oldCloseFactor, uint256 newCloseFactor);

LiquidationCollateralSplit

event LiquidationCollateralSplit(uint256 totalSeized, uint256 protocolAmount, uint256 callerAmount);

ProtocolShareSweptToReserve

event ProtocolShareSweptToReserve(address indexed collateral, uint256 amount);

Errors

NotWhitelistedLiquidator

error NotWhitelistedLiquidator();

NotWhitelistedSettler

error NotWhitelistedSettler();

VaultNotRegistered

error VaultNotRegistered();

InvalidShare

error InvalidShare();

InvalidCloseFactor

error InvalidCloseFactor();

InvalidAddress

error InvalidAddress();

ZeroRepayAmount

error ZeroRepayAmount();

OwnershipCannotBeRenounced

error OwnershipCannotBeRenounced();