Dynamic Vault Changelog

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Release summary

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What We Shipped

• Version 1 vaults price LP shares with vault.total_lp_supply
• Permissionless migrate_vault moves a version 0 vault to version 1
• withdraw and withdraw_directly_from_strategy require the LP account owner to sign

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What To Do

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Program: mercurial-vault 0.9.5

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Fixed

• Fixed withdraw and withdraw_directly_from_strategy letting anyone redeem vault LP held in a token account owned by the System Program or the incinerator. SPL Token skips the owner check when burning from such accounts, so the vault now requires user_lp.owner == user before burning LP.
• Fixed LP share pricing being manipulable by burning LP outside the vault. LP held by the System Program or the incinerator can be burned by anyone, which lowered lp_mint.supply and inflated the value of the remaining LP. Version 1 vaults price LP shares with their own tracked supply, vault.total_lp_supply, which only changes when the vault mints or burns LP.

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Added

• New endpoint migrate_vault (permissionless) that moves a version 0 vault to version 1 and starts total_lp_supply at the current lp_mint.supply. It can only run once per vault.
• New Vault fields version, total_lp_supply and _padding0.
• New event VaultMigrated.
• New errors InvalidLpOwner, InvalidLpSupplyAccounting and VaultAlreadyMigrated.

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Changed

• MAX_STRATEGY reduced from 30 to 29. The 32 bytes of the former 30th strategy slot, unused by every vault, now hold version, total_lp_supply and _padding0. The account size and the offsets of all other fields are unchanged.
• Version 1 vaults use total_lp_supply in deposit, withdraw, withdraw_directly_from_strategy and the performance fee calculation, and update it whenever LP is minted or burned. Version 0 vaults keep using lp_mint.supply.
• New vaults are created as version 1.

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Breaking Changes

• withdraw and withdraw_directly_from_strategy no longer accept an LP account that user only controls as a delegate; the LP account owner must sign as user.
• Vault.strategies now has 29 entries. Clients decoding the vault with the old IDL see the former 30th slot as a non-default pubkey once the vault is migrated, and must update the IDL before migrate_vault runs.
• Integrations that compute the underlying amount of vault LP must use total_lp_supply when version == 1, and lp_mint.supply otherwise.

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TypeScript SDK: @meteora-ag/vault-sdk 2.4.0

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Added

• getVaultLpSupply to get the LP supply a vault prices shares with
• initializeIdleVault and migrateVault in the IDL

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Changed

• Sync IDL with vault program 0.9.5: Vault has 29 strategies followed by version, totalLpSupply and padding0, new VaultMigrated event and errors up to VaultAlreadyMigrated (6024)
• getVaultSupply refetches the vault and returns totalLpSupply for version 1 vaults
• Version 1 vaults price shares with totalLpSupply, not the LP mint supply. Reading lpMint.supply directly gives wrong share and amount calculations, use getVaultLpSupply / getVaultSupply in TS or Vault::get_lp_supply in Rust
• deposit no longer refetches the vault, it only uses the vault’s LP mint and token mint
• refreshVaultState also refreshes tokenLpMint
• Rust Vault state uses the 0.9.5 layout and adds get_lp_supply, VaultError matches the program

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Removed

• collectDust and withdraw2 from the IDL, the program no longer has them

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Fixed

• Strategies of type Kamino and JupLend decode, the IDL StrategyType was missing both and the Rust StrategyType was missing JupLend
• StrategyType type matches the strategy names Anchor decodes: adds kamino and jupLend, renames apricotWithoutLM to apricotWithoutLm, removes cypher and psylend

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Release summary

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What We Shipped

• Anchor 0.31.1
• Jupiter Lend

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Program: mercurial-vault 0.9.4

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Changed

• Upgrade to anchor 0.31.1

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Added

• Jupiter lend

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Removed

• Removed marginfi
• Removed kamino
• Removed solend

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Fixed

• Use of +1 as rounding for from_liquidity_to_collateral

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Release summary

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What We Shipped

• Overflow fix for a large initial deposit

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Program: mercurial-vault 0.9.3

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Fixed

• Fix overflow issue when initial deposit amount is too big

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Release summary

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What We Shipped

• Offsite audit fixes
• Removed collect_dust and withdraw2

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Program: mercurial-vault 0.9.2

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Fixed

• Fix some audit reports from Offsite

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Breaking Changes

• Remove collect_dust endpoint
• Remove withdraw2 endpoint

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Release summary

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What We Shipped

• Removed @solana/spl-token-registry

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TypeScript SDK: @meteora-ag/vault-sdk 2.3.1

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Changed

• remove @solana/spl-token-registry deps

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Release summary

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What We Shipped

• Package moved to the meteora-ag organization

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TypeScript SDK: @meteora-ag/vault-sdk 2.3.0

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Changed

• move to meteora-ag org

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Release summary

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What We Shipped

• deserializeMint

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TypeScript SDK: @mercurial-finance/vault-sdk 2.2.1

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Added

• new utils deserializeMint

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Release summary

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What We Shipped

• Fixed tokenMint and tokenLpMint
• Removed lpMintPda

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TypeScript SDK: @mercurial-finance/vault-sdk 2.2.0

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Fixed

• fix tokenMint & tokenLpMint

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Removed

• remove lpMintPda field

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Release summary

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What We Shipped

• Fewer RPC calls in createMultiple and createMultiplePda

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TypeScript SDK: @mercurial-finance/vault-sdk 2.1.1

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Changed

• update createMultiple & createMultiplePda to optimize rpc call

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Release summary

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What We Shipped

• createMultiple takes fewer parameters

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TypeScript SDK: @mercurial-finance/vault-sdk 2.1.0

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Fixed

• fix createMultiple to take in less param

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Release summary

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What We Shipped

• refreshVaultState works again

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TypeScript SDK: @mercurial-finance/vault-sdk 2.0.1

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Fixed

• fix refreshVaultState not working

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Release summary

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What We Shipped

• @solana/spl-token 0.4.6
• Removed direct strategy withdrawal logic

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TypeScript SDK: @mercurial-finance/vault-sdk 2.0.0

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Changed

• Pump “@solana/spl-token” to 0.4.6 and various relevant packages

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Removed

• Remove logic to withdraw directly from strategy