Wrapped Wildcat Market Oracle

The Wildcat Market Oracle is a Morpho Blue oracle that prices ERC-4626 wrapped Wildcat market tokens.

WildcatMarketOracle

WildcatMarketOracle prices the ERC-4626 wrapped Wildcat market token from:

• the Wildcat market scaleFactor
• the Wildcat market timeDelinquent
• three discount phases based on timeDelinquent

This data is from the market's currentState(), which returns a cached value. For active markets this should not be a problem, but for ones that are less active, there may be a periodic call to updateState() needed.

The price formula is:

price = 1e36 * scaleFactor / 1e27 * (10000 - discountBps) / 10000

WildcatOracleChainlinkFeed

WildcatOracleChainlinkFeed is a wrapper around the WildcatMarketOracle for usage with MorphoChainlinkOracleV2. A MorphoChainlinkOracleV2 for this oracle can be deployed with baseFeed1 set to WildcatOracleChainlinkFeed.

Phases

The current oracle has three phases, triggered when timeDelinquent > 0:

1. Grace phase 0% -> gracePenaltyBps over gracePeriod

2. Intermediary phase gracePenaltyBps -> intermediaryPenaltyBps over intermediaryPeriod

3. Final phase intermediaryPenaltyBps -> maxDiscountBps over finalPeriod, then capped

gracePeriod is read from the Wildcat market itself through market.delinquencyGracePeriod().

intermediaryPeriod, intermediaryPenaltyBps, finalPeriod, and maxDiscountBps are configured in the constructor.

Example

Settings:

• gracePeriod = 2 days
• gracePenaltyBps = 100 (1%)
• intermediaryPeriod = 7 days
• intermediary slope = 1.25% per day
• intermediaryPenaltyBps = 975 (1% + 1.25%*7 = 9.75%)
• total delinquency time to 0 = 60 days

To reach 60 days in this case

• phase 1: 2 days
• phase 2: 7 days
• phase 3: 51 days

So this example uses:

• finalPeriod = 51 days
• maxDiscount = 100%

Note: the current contract requires maxDiscountBps < 10000, so price can't actually go to zero.

Day	Phase	Discount	Remaining Value
0	healthy	0.00%	100.00%
1	grace	0.50%	99.50%
2	grace end	1.00%	99.00%
3	intermediary	2.25%	97.75%
5	intermediary	4.75%	95.25%
7	intermediary	7.25%	92.75%
9	intermediary end	9.75%	90.25%
15	final	20.37%	79.63%
30	final	46.91%	53.09%
45	final	73.46%	26.54%
60	final end	100.00%	0.00%

Deployments

Market	MorphoChainlinkOracleV2	WildcatOracleChainlinkFeed	WildcatMarketOracle
wmtUSDC	0x6969A0296d9fEC77e794651469e362105d2307e8	0xe44DCF74Ab26eC2E23c4F0922DCB9765379F0Aae	0xD89124a031f75d5cae29fE15376DFcD86B7cF844