MorphoOracle

Git Source

Inherits: IMorphoOracle

Title: MorphoOracle

Adapts BasketOracle price to Morpho Blue’s oracle scale (24 decimals for USDC/plDXY).

Supports both plDXY-BEAR (direct) and plDXY-BULL (inverse) pricing.

Note: security-contact: contact@plether.com

Constants

BASKET_ORACLE

Source price feed (BasketOracle).

AggregatorV3Interface public immutable BASKET_ORACLE

CAP

Protocol CAP price (8 decimals).

uint256 public immutable CAP

IS_INVERSE

If true, returns CAP - Price (for plDXY-BULL).

bool public immutable IS_INVERSE

STALENESS_TIMEOUT

Maximum age for valid oracle price.

uint256 public constant STALENESS_TIMEOUT = 24 hours

Functions

constructor

Creates Morpho-compatible oracle wrapper.

constructor(
    address _basketOracle,
    uint256 _cap,
    bool _isInverse
) ;

Parameters

Name	Type	Description
`_basketOracle`	`address`	BasketOracle address.
`_cap`	`uint256`	Protocol CAP (8 decimals, e.g., 2e8 = $2.00).
`_isInverse`	`bool`	True for plDXY-BULL (CAP - Price), false for plDXY-BEAR.

price

Returns collateral price in Morpho scale (24 decimals for USDC(6)/plDXY(18)).

Morpho expects: 36 + loanDecimals - collateralDecimals = 36 + 6 - 18 = 24. BEAR (IS_INVERSE=false): min(basketPrice, CAP) * CHAINLINK_TO_MORPHO_SCALE. BULL (IS_INVERSE=true): (CAP - basketPrice) * CHAINLINK_TO_MORPHO_SCALE. Returns 1 (not 0) when BULL price would be zero to avoid Morpho division errors.

function price() external view override returns (uint256);

Returns

Name	Type	Description
`<none>`	`uint256`	Price of 1 plDXY token in USDC terms (24 decimals).

Errors

MorphoOracle__InvalidPrice

Thrown when source oracle returns zero or negative price.

error MorphoOracle__InvalidPrice();

MorphoOracle__StalePrice

Thrown when source oracle data is stale.

error MorphoOracle__StalePrice();

MorphoOracle__ZeroAddress

Thrown when zero address provided to constructor.

error MorphoOracle__ZeroAddress();

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