Merge pull request #4941 from VenusProtocol/feat/off-chain-apy

feat: support off-chain APYs

Author: gleiser-oliveira

.changeset/major-views-nail.md

@@ -0,0 +1,5 @@
+---
+"@venusprotocol/evm": minor
+---
+
+Support off-chain APYs

apps/evm/src/clients/api/queries/useGetPools/getPools/formatOutput/formatDistributions/formatRewardDistribution/index.ts

@@ -1,7 +1,7 @@
 import type BigNumber from 'bignumber.js';
 
 import type {
-  IntrinsicApyDistribution,
+  GenericDistribution,
   MerklDistribution,
   RewardDistributorDistribution,
   Token,
@@ -18,23 +18,27 @@ interface MerklRewardDetails {
   tags: string[];
 }
 
-interface IntrinsicApyRewardDetails {
+interface GenericDistributionRewardDetails {
   name: string;
   description: string;
 }
 
-type FormatDistributionInput<TType extends 'venus' | 'merkl' | 'intrinsic'> = {
+type ApiRewardType = 'venus' | 'merkl' | 'intrinsic' | 'off-chain';
+
+type FormatDistributionInput<TType extends ApiRewardType> = {
   rewardType: TType;
   isActive: boolean;
   marketAddress: Address;
   rewardToken: Token;
   rewardTokenPriceDollars: BigNumber;
   dailyDistributedRewardTokens: BigNumber;
   balanceDollars: BigNumber;
-  rewardDetails: TType extends 'merkl' ? MerklRewardDetails : IntrinsicApyRewardDetails | null;
+  rewardDetails: TType extends 'merkl'
+    ? MerklRewardDetails
+    : GenericDistributionRewardDetails | null;
 };
 
-const formatRewardDistribution = <TType extends 'venus' | 'merkl' | 'intrinsic'>({
+const formatRewardDistribution = <TType extends ApiRewardType>({
   marketAddress,
   isActive,
   rewardType,
@@ -75,12 +79,12 @@ const formatRewardDistribution = <TType extends 'venus' | 'merkl' | 'intrinsic'>
     return distribution;
   }
 
-  if (rewardType === 'intrinsic' && rewardDetails) {
-    const distribution: IntrinsicApyDistribution = {
+  if ((rewardType === 'intrinsic' || rewardType === 'off-chain') && rewardDetails) {
+    const distribution: GenericDistribution = {
       ...baseProps,
-      type: 'intrinsic',
+      type: rewardType,
       isActive,
-      rewardDetails: rewardDetails as IntrinsicApyRewardDetails,
+      rewardDetails: rewardDetails as GenericDistributionRewardDetails,
     };
 
     return distribution;

apps/evm/src/clients/api/queries/useGetPools/getPools/getApiPools/index.ts

@@ -40,6 +40,10 @@ interface ApiIntrinsicApyReward extends ApiReward {
   };
 }
 
+type ApiOffChainApyReward = Omit<ApiIntrinsicApyReward, 'type'> & {
+  rewardType: 'intrinsic';
+};
+
 export type PointsProgram = 'ethena' | 'etherfi' | 'kelp' | 'solv' | 'aster';
 
 export interface ApiPointsDistribution {
@@ -54,7 +58,11 @@ export interface ApiPointsDistribution {
   logoUrl?: string;
 }
 
-export type ApiRewardDistributor = ApiVenusReward | ApiMerklReward | ApiIntrinsicApyReward;
+export type ApiRewardDistributor =
+  | ApiVenusReward
+  | ApiMerklReward
+  | ApiIntrinsicApyReward
+  | ApiOffChainApyReward;
 
 export interface ApiMarketEModeSettings {
   marketAddress: Address;

apps/evm/src/components/Apy/BoostTooltip/index.tsx

@@ -36,10 +36,14 @@ export const BoostTooltip: React.FC<BoostTooltipProps> = ({
     {
       name:
         type === 'supply'
-          ? t('apy.boost.tooltip.baseSupplyApyLabel')
-          : t('apy.boost.tooltip.baseBorrowApyLabel'),
+          ? t('apy.boost.tooltip.supplyApy.name')
+          : t('apy.boost.tooltip.borrowApy.name'),
       value: formatPercentageToReadableValue(baseApyPercentage),
       logoSrc: token.iconSrc,
+      description:
+        type === 'supply'
+          ? t('apy.boost.tooltip.supplyApy.description')
+          : t('apy.boost.tooltip.borrowApy.description'),
     },
   ];
 
@@ -94,6 +98,17 @@ export const BoostTooltip: React.FC<BoostTooltipProps> = ({
 
       return listItems.push(distribution);
     }
+
+    if (d.type === 'off-chain') {
+      const distribution: DistributionProps = {
+        name: t('apy.boost.tooltip.offChainApy.name'),
+        description: t('apy.boost.tooltip.offChainApy.description'),
+        value: formatPercentageToReadableValue(d.apyPercentage),
+        logoSrc: d.token.iconSrc,
+      };
+
+      return listItems.push(distribution);
+    }
   }, []);
 
   // Add Prime distribution

apps/evm/src/libs/translations/translations/en.json

@@ -177,21 +177,31 @@
     "boost": {
       "iconAlt": "Boosted market icon",
       "tooltip": {
-        "baseBorrowApyLabel": "Borrow APY",
-        "baseSupplyApyLabel": "Supply APY",
+        "borrowApy": {
+          "description": "The accruing interest when borrowing this asset from the Venus Protocol.",
+          "name": "Borrow APY"
+        },
         "defaultMerklRewardName": "Merkl rewards",
         "externalRewardDescription": "Rewards from this external program can be claimed through their <AppLink>official app</AppLink>. The Venus protocol does not guarantee them and accepts no liability.",
         "intrinsicApy": {
-          "description": "Yield generated by the supplied asset, independent of lending yield from Venus. Commonly from staking or other external rewards.",
+          "description": "The native yield from the underlying asset itself — for example, staking rewards. This yield originates from external sources and is not guaranteed by Venus Protocol.",
           "name": "Intrinsic APY"
         },
+        "offChainApy": {
+          "description": "Additional yield from off-chain activities, such as airdrop or promotional campaigns, managed by third parties. This yield is not guaranteed by Venus Protocol.",
+          "name": "Off-chain APY"
+        },
         "pointDistribution": {
           "learnMore": "Learn more"
         },
         "primeDistribution": {
           "description": "Venus Prime rewards dedicated users with boosted rewards. The Venus protocol does not guarantee these rewards and accepts no liability.",
           "name": "Prime APY"
         },
+        "supplyApy": {
+          "description": "The total yield earned by supplying your asset to Venus Protocol.",
+          "name": "Supply APY"
+        },
         "xvsDistribution": {
           "description": "Distribution rewards are initiated and implemented by the decentralized Venus community. The Venus protocol does not guarantee them and accepts no liability.",
           "name": "XVS distribution"
@@ -239,11 +249,13 @@
   },
   "assetInfo": {
     "borrowApy": "Borrow APY",
-    "intrinsicApy": "Intrinsic APY ({{tokenSymbol}})",
     "distributionApy": "Distribution APY ({{tokenSymbol}})",
     "distributionTooltip": "Distribution rewards are initiated and implemented by the decentralized Venus community. The Venus protocol does not guarantee them and accepts no liability.",
-    "intrinsicApyTooltip": "APY earned directly from the asset itself (e.g. staking or external rewards), separate from Venus lending yield. The Venus protocol does not guarantee them and accepts no liability.",
     "externalDistributionApy": "{{description}} APY ({{tokenSymbol}})",
+    "intrinsicApy": "Intrinsic APY ({{tokenSymbol}})",
+    "intrinsicApyTooltip": "APY earned directly from the asset itself (e.g. staking or external rewards), separate from Venus lending yield. The Venus protocol does not guarantee them and accepts no liability.",
+    "offChainApy": "Off-chain APY ({{tokenSymbol}})",
+    "offChainApyTooltip": "Additional yield from off-chain activities, such as airdrop or promotional campaigns, managed by third parties. The Venus protocol does not guarantee them and accepts no liability.",
     "primeApy": "Prime APY ({{tokenSymbol}})",
     "supplyApy": "Supply APY",
     "totalApy": {

apps/evm/src/pages/Market/OperationForm/AssetInfo/index.tsx

@@ -123,6 +123,9 @@ export const AssetInfo: React.FC<AssetInfoProps> = ({
         if (distribution.type === 'intrinsic') {
           label = t('assetInfo.intrinsicApy', { tokenSymbol: distribution.token.symbol });
         }
+        if (distribution.type === 'off-chain') {
+          label = t('assetInfo.offChainApy', { tokenSymbol: distribution.token.symbol });
+        }
         const children =
           distribution.type === 'prime' ? (
             <ValueUpdate
@@ -146,6 +149,9 @@ export const AssetInfo: React.FC<AssetInfoProps> = ({
         if (distribution.type === 'intrinsic') {
           tooltip = t('assetInfo.intrinsicApyTooltip');
         }
+        if (distribution.type === 'off-chain') {
+          tooltip = t('assetInfo.offChainApyTooltip');
+        }
 
         const row: LabeledInlineContentProps = {
           label,

apps/evm/src/types/index.ts

@@ -1,5 +1,6 @@
 import type { Token as PSToken } from '@pancakeswap/sdk';
 import type { ChainId, Token, VToken } from '@venusprotocol/chains';
+import type { Omit } from '@wagmi/core/internal';
 import type BigNumber from 'bignumber.js';
 import type { Address, ByteArray, Hex } from 'viem';
 
@@ -85,8 +86,8 @@ export interface MerklDistribution {
   };
 }
 
-export interface IntrinsicApyDistribution {
-  type: 'intrinsic';
+export interface GenericDistribution {
+  type: 'intrinsic' | 'off-chain';
   token: Token;
   apyPercentage: BigNumber;
   dailyDistributedTokens: BigNumber;
@@ -102,7 +103,7 @@ export type TokenDistribution =
   | PrimeDistribution
   | PrimeSimulationDistribution
   | MerklDistribution
-  | IntrinsicApyDistribution;
+  | GenericDistribution;
 
 export interface PointDistribution {
   title: string;

apps/evm/src/utilities/getCombinedDistributionApys/index.ts

@@ -16,7 +16,8 @@ const aggregatePercentages = ({ distributions }: AggregatePercentagesInput) =>
       if (
         distribution.type === 'venus' ||
         distribution.type === 'merkl' ||
-        distribution.type === 'intrinsic'
+        distribution.type === 'intrinsic' ||
+        distribution.type === 'off-chain'
       ) {
         return {
           ...acc,