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rft: mint fee shares at the start #1178

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efdac54
init
DhairyaSethi Feb 3, 2026
0e1136c
test: mint fee shares during accrue (#1179)
yan-man Feb 4, 2026
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32 changes: 16 additions & 16 deletions snapshots/Hub.Operations.json
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Original file line number Diff line number Diff line change
@@ -1,18 +1,18 @@
{
"add": "86709",
"add: with transfer": "108006",
"draw": "104177",
"eliminateDeficit: full": "72584",
"eliminateDeficit: partial": "82189",
"mintFeeShares": "82770",
"payFee": "70834",
"refreshPremium": "70391",
"remove: full": "75613",
"remove: partial": "80751",
"reportDeficit": "111899",
"restore: full": "76569",
"restore: full - with transfer": "169178",
"restore: partial": "85291",
"restore: partial - with transfer": "143271",
"transferShares": "69648"
"add": "66302",
"add: with transfer": "104699",
"draw": "103557",
"eliminateDeficit: full": "72132",
"eliminateDeficit: partial": "81737",
"mintFeeShares": "79937",
"payFee": "73447",
"refreshPremium": "69994",
"remove: full": "76553",
"remove: partial": "77397",
"reportDeficit": "121622",
"restore: full": "86292",
"restore: full - with transfer": "179323",
"restore: partial": "95014",
"restore: partial - with transfer": "152994",
"transferShares": "79061"
}
12 changes: 6 additions & 6 deletions snapshots/NativeTokenGateway.Operations.json
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Original file line number Diff line number Diff line change
@@ -1,8 +1,8 @@
{
"borrowNative": "227997",
"repayNative": "166265",
"supplyAsCollateralNative": "160205",
"supplyNative": "135802",
"withdrawNative: full": "125580",
"withdrawNative: partial": "136774"
"borrowNative": "227628",
"repayNative": "166396",
"supplyAsCollateralNative": "157359",
"supplyNative": "133156",
"withdrawNative: full": "124044",
"withdrawNative: partial": "133344"
}
8 changes: 4 additions & 4 deletions snapshots/SignatureGateway.Operations.json
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Original file line number Diff line number Diff line change
@@ -1,10 +1,10 @@
{
"borrowWithSig": "213175",
"repayWithSig": "186537",
"borrowWithSig": "212806",
"repayWithSig": "186668",
"setSelfAsUserPositionManagerWithSig": "75385",
"setUsingAsCollateralWithSig": "85409",
"supplyWithSig": "152034",
"supplyWithSig": "149388",
"updateUserDynamicConfigWithSig": "63129",
"updateUserRiskPremiumWithSig": "62099",
"withdrawWithSig": "130834"
"withdrawWithSig": "130612"
}
8 changes: 4 additions & 4 deletions snapshots/Spoke.Getters.json
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Original file line number Diff line number Diff line change
@@ -1,7 +1,7 @@
{
"getUserAccountData: supplies: 0, borrows: 0": "13005",
"getUserAccountData: supplies: 1, borrows: 0": "49355",
"getUserAccountData: supplies: 2, borrows: 0": "80991",
"getUserAccountData: supplies: 2, borrows: 1": "100457",
"getUserAccountData: supplies: 2, borrows: 2": "119226"
"getUserAccountData: supplies: 1, borrows: 0": "49279",
"getUserAccountData: supplies: 2, borrows: 0": "80839",
"getUserAccountData: supplies: 2, borrows: 1": "100414",
"getUserAccountData: supplies: 2, borrows: 2": "119292"
}
48 changes: 24 additions & 24 deletions snapshots/Spoke.Operations.ZeroRiskPremium.json
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Original file line number Diff line number Diff line change
@@ -1,33 +1,33 @@
{
"borrow: first": "189605",
"borrow: second action, same reserve": "169471",
"liquidationCall (receiveShares): full": "295608",
"liquidationCall (receiveShares): partial": "295326",
"liquidationCall: full": "305100",
"liquidationCall: partial": "304818",
"permitReserve + repay (multicall)": "164506",
"permitReserve + supply (multicall)": "146828",
"permitReserve + supply + enable collateral (multicall)": "161301",
"repay: full": "123800",
"repay: partial": "128770",
"borrow: first": "199334",
"borrow: second action, same reserve": "179200",
"liquidationCall (receiveShares): full": "304392",
"liquidationCall (receiveShares): partial": "304110",
"liquidationCall: full": "310567",
"liquidationCall: partial": "310285",
"permitReserve + repay (multicall)": "164528",
"permitReserve + supply (multicall)": "143521",
"permitReserve + supply + enable collateral (multicall)": "157994",
"repay: full": "123822",
"repay: partial": "128792",
"setUserPositionManagersWithSig: disable": "47039",
"setUserPositionManagersWithSig: enable": "68951",
"supply + enable collateral (multicall)": "141481",
"supply: 0 borrows, collateral disabled": "122874",
"supply: 0 borrows, collateral enabled": "105845",
"supply: second action, same reserve": "105774",
"supply + enable collateral (multicall)": "138174",
"supply: 0 borrows, collateral disabled": "119567",
"supply: 0 borrows, collateral enabled": "102538",
"supply: second action, same reserve": "102467",
"updateUserDynamicConfig: 1 collateral": "74603",
"updateUserDynamicConfig: 2 collaterals": "89520",
"updateUserRiskPremium: 1 borrow": "94940",
"updateUserRiskPremium: 2 borrows": "104075",
"updateUserRiskPremium: 1 borrow": "94973",
"updateUserRiskPremium: 2 borrows": "104910",
"usingAsCollateral: 0 borrows, enable": "59638",
"usingAsCollateral: 1 borrow, disable": "104981",
"usingAsCollateral: 1 borrow, disable": "105014",
"usingAsCollateral: 1 borrow, enable": "42526",
"usingAsCollateral: 2 borrows, disable": "126089",
"usingAsCollateral: 2 borrows, disable": "126231",
"usingAsCollateral: 2 borrows, enable": "42538",
"withdraw: 0 borrows, full": "127997",
"withdraw: 0 borrows, partial": "132732",
"withdraw: 1 borrow, partial": "159169",
"withdraw: 2 borrows, partial": "173287",
"withdraw: non collateral": "105920"
"withdraw: 0 borrows, full": "124061",
"withdraw: 0 borrows, partial": "129226",
"withdraw: 1 borrow, partial": "155266",
"withdraw: 2 borrows, partial": "169999",
"withdraw: non collateral": "102490"
}
48 changes: 24 additions & 24 deletions snapshots/Spoke.Operations.json
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Original file line number Diff line number Diff line change
@@ -1,33 +1,33 @@
{
"borrow: first": "258588",
"borrow: second action, same reserve": "201454",
"liquidationCall (receiveShares): full": "327696",
"liquidationCall (receiveShares): partial": "327414",
"liquidationCall: full": "337188",
"liquidationCall: partial": "336906",
"permitReserve + repay (multicall)": "161988",
"permitReserve + supply (multicall)": "146828",
"permitReserve + supply + enable collateral (multicall)": "161301",
"repay: full": "117879",
"repay: partial": "137249",
"borrow: first": "268029",
"borrow: second action, same reserve": "210895",
"liquidationCall (receiveShares): full": "336192",
"liquidationCall (receiveShares): partial": "335910",
"liquidationCall: full": "342367",
"liquidationCall: partial": "342085",
"permitReserve + repay (multicall)": "162006",
"permitReserve + supply (multicall)": "143521",
"permitReserve + supply + enable collateral (multicall)": "157994",
"repay: full": "117901",
"repay: partial": "137271",
"setUserPositionManagersWithSig: disable": "47039",
"setUserPositionManagersWithSig: enable": "68951",
"supply + enable collateral (multicall)": "141481",
"supply: 0 borrows, collateral disabled": "122874",
"supply: 0 borrows, collateral enabled": "105845",
"supply: second action, same reserve": "105774",
"supply + enable collateral (multicall)": "138174",
"supply: 0 borrows, collateral disabled": "119567",
"supply: 0 borrows, collateral enabled": "102538",
"supply: second action, same reserve": "102467",
"updateUserDynamicConfig: 1 collateral": "74603",
"updateUserDynamicConfig: 2 collaterals": "89520",
"updateUserRiskPremium: 1 borrow": "148344",
"updateUserRiskPremium: 2 borrows": "198096",
"updateUserRiskPremium: 1 borrow": "157899",
"updateUserRiskPremium: 2 borrows": "217975",
"usingAsCollateral: 0 borrows, enable": "59638",
"usingAsCollateral: 1 borrow, disable": "158385",
"usingAsCollateral: 1 borrow, disable": "167940",
"usingAsCollateral: 1 borrow, enable": "42526",
"usingAsCollateral: 2 borrows, disable": "228110",
"usingAsCollateral: 2 borrows, disable": "247296",
"usingAsCollateral: 2 borrows, enable": "42538",
"withdraw: 0 borrows, full": "127997",
"withdraw: 0 borrows, partial": "132732",
"withdraw: 1 borrow, partial": "210071",
"withdraw: 2 borrows, partial": "255841",
"withdraw: non collateral": "105920"
"withdraw: 0 borrows, full": "124061",
"withdraw: 0 borrows, partial": "129226",
"withdraw: 1 borrow, partial": "215690",
"withdraw: 2 borrows, partial": "251977",
"withdraw: non collateral": "102490"
}
54 changes: 27 additions & 27 deletions src/hub/Hub.sol
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Original file line number Diff line number Diff line change
Expand Up @@ -108,7 +108,6 @@ contract Hub is IHub, AccessManaged {
decimals: decimals,
drawnRate: drawnRate.toUint96(),
irStrategy: irStrategy,
realizedFees: 0,
reinvestmentController: address(0),
feeReceiver: feeReceiver,
liquidityFee: 0
Expand All @@ -125,7 +124,7 @@ contract Hub is IHub, AccessManaged {
reinvestmentController: address(0)
})
);
emit UpdateAsset(assetId, drawnIndex, drawnRate, 0);
emit UpdateAsset(assetId, drawnIndex, drawnRate);

return assetId;
}
Expand All @@ -138,7 +137,7 @@ contract Hub is IHub, AccessManaged {
) external restricted {
require(assetId < _assetCount, AssetNotListed());
Asset storage asset = _assets[assetId];
asset.accrue();
asset.accrue(_spokes, assetId);

require(config.liquidityFee <= PercentageMath.PERCENTAGE_FACTOR, InvalidLiquidityFee());
require(config.feeReceiver != address(0) && config.irStrategy != address(0), InvalidAddress());
Expand Down Expand Up @@ -200,7 +199,7 @@ contract Hub is IHub, AccessManaged {
function setInterestRateData(uint256 assetId, bytes calldata irData) external restricted {
require(assetId < _assetCount, AssetNotListed());
Asset storage asset = _assets[assetId];
asset.accrue();
asset.accrue(_spokes, assetId);
IBasicInterestRateStrategy(asset.irStrategy).setInterestRateData(assetId, irData);
asset.updateDrawnRate(assetId);
}
Expand All @@ -209,7 +208,7 @@ contract Hub is IHub, AccessManaged {
function mintFeeShares(uint256 assetId) external restricted returns (uint256) {
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@yan-man yan-man Feb 3, 2026

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todo: determine if we want to keep this around, but doesnt seem necessary

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@CheyenneAtapour CheyenneAtapour Feb 3, 2026

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We mentioned that if there is no action for a while, we might want to manually trigger this, even with this kind of implementation

require(assetId < _assetCount, AssetNotListed());
Asset storage asset = _assets[assetId];
asset.accrue();
asset.accrue(_spokes, assetId);
uint256 feeShares = _mintFeeShares(asset, assetId);
asset.updateDrawnRate(assetId);
return feeShares;
Expand All @@ -220,7 +219,7 @@ contract Hub is IHub, AccessManaged {
Asset storage asset = _assets[assetId];
SpokeData storage spoke = _spokes[assetId][msg.sender];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateAdd(asset, spoke, amount);

uint256 liquidity = asset.liquidity + amount;
Expand All @@ -244,7 +243,7 @@ contract Hub is IHub, AccessManaged {
Asset storage asset = _assets[assetId];
SpokeData storage spoke = _spokes[assetId][msg.sender];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateRemove(spoke, amount, to);

uint256 liquidity = asset.liquidity;
Expand All @@ -269,7 +268,7 @@ contract Hub is IHub, AccessManaged {
Asset storage asset = _assets[assetId];
SpokeData storage spoke = _spokes[assetId][msg.sender];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateDraw(asset, spoke, amount, to);

uint256 liquidity = asset.liquidity;
Expand Down Expand Up @@ -298,7 +297,7 @@ contract Hub is IHub, AccessManaged {
Asset storage asset = _assets[assetId];
SpokeData storage spoke = _spokes[assetId][msg.sender];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateRestore(asset, spoke, drawnAmount, premiumDelta.restoredPremiumRay);

uint120 drawnShares = asset.toDrawnSharesDown(drawnAmount).toUint120();
Expand Down Expand Up @@ -328,7 +327,7 @@ contract Hub is IHub, AccessManaged {
Asset storage asset = _assets[assetId];
SpokeData storage spoke = _spokes[assetId][msg.sender];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateReportDeficit(asset, spoke, drawnAmount, premiumDelta.restoredPremiumRay);

uint120 drawnShares = asset.toDrawnSharesDown(drawnAmount).toUint120();
Expand Down Expand Up @@ -358,7 +357,7 @@ contract Hub is IHub, AccessManaged {
SpokeData storage callerSpoke = _spokes[assetId][msg.sender];
SpokeData storage coveredSpoke = _spokes[assetId][spoke];

asset.accrue();
asset.accrue(_spokes, assetId);
uint256 deficitRay = coveredSpoke.deficitRay;
uint256 deficitAmountRay = (amount < deficitRay.fromRayUp()) ? amount.toRay() : deficitRay;
_validateEliminateDeficit(callerSpoke, deficitAmountRay);
Expand All @@ -381,7 +380,7 @@ contract Hub is IHub, AccessManaged {
Asset storage asset = _assets[assetId];
SpokeData storage spoke = _spokes[assetId][msg.sender];

asset.accrue();
asset.accrue(_spokes, assetId);
require(spoke.active, SpokeNotActive());
// no premium change allowed
require(premiumDelta.restoredPremiumRay == 0, InvalidPremiumChange());
Expand All @@ -398,7 +397,7 @@ contract Hub is IHub, AccessManaged {
SpokeData storage receiver = _spokes[assetId][feeReceiver];
SpokeData storage sender = _spokes[assetId][msg.sender];

asset.accrue();
asset.accrue(_spokes, assetId);
_validatePayFeeShares(sender, shares);
_transferShares(sender, receiver, shares);
asset.updateDrawnRate(assetId);
Expand All @@ -412,7 +411,7 @@ contract Hub is IHub, AccessManaged {
SpokeData storage sender = _spokes[assetId][msg.sender];
SpokeData storage receiver = _spokes[assetId][toSpoke];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateTransferShares(asset, sender, receiver, shares);
_transferShares(sender, receiver, shares);
asset.updateDrawnRate(assetId);
Expand All @@ -425,7 +424,7 @@ contract Hub is IHub, AccessManaged {
require(assetId < _assetCount, AssetNotListed());
Asset storage asset = _assets[assetId];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateSweep(asset, msg.sender, amount);

uint256 liquidity = asset.liquidity;
Expand All @@ -446,7 +445,7 @@ contract Hub is IHub, AccessManaged {
require(assetId < _assetCount, AssetNotListed());
Asset storage asset = _assets[assetId];

asset.accrue();
asset.accrue(_spokes, assetId);
_validateReclaim(asset, msg.sender, amount);

uint256 liquidity = asset.liquidity + amount;
Expand Down Expand Up @@ -599,12 +598,6 @@ contract Hub is IHub, AccessManaged {
});
}

/// @inheritdoc IHub
function getAssetAccruedFees(uint256 assetId) external view returns (uint256) {
Asset storage asset = _assets[assetId];
return asset.realizedFees + asset.getUnrealizedFees(asset.getDrawnIndex());
}

/// @inheritdoc IHub
function getAssetSwept(uint256 assetId) external view returns (uint256) {
return _assets[assetId].swept;
Expand All @@ -622,11 +615,20 @@ contract Hub is IHub, AccessManaged {

/// @inheritdoc IHubBase
function getSpokeAddedAssets(uint256 assetId, address spoke) external view returns (uint256) {
return _assets[assetId].toAddedAssetsDown(_spokes[assetId][spoke].addedShares);
IHub.Asset storage asset = _assets[assetId];
if (spoke == asset.feeReceiver) {
return
asset.toAddedAssetsDown(_spokes[assetId][spoke].addedShares + asset.unrealizedFeeShares());
}
return asset.toAddedAssetsDown(_spokes[assetId][spoke].addedShares);
}

/// @inheritdoc IHubBase
function getSpokeAddedShares(uint256 assetId, address spoke) external view returns (uint256) {
IHub.Asset storage asset = _assets[assetId];
if (spoke == asset.feeReceiver) {
return _spokes[assetId][spoke].addedShares + asset.unrealizedFeeShares();
}
return _spokes[assetId][spoke].addedShares;
}

Expand Down Expand Up @@ -780,8 +782,7 @@ contract Hub is IHub, AccessManaged {
}

function _mintFeeShares(Asset storage asset, uint256 assetId) internal returns (uint256) {
uint256 fees = asset.realizedFees;
uint120 shares = asset.toAddedSharesDown(fees).toUint120();
uint120 shares = asset.unrealizedFeeShares().toUint120();
if (shares == 0) {
return 0;
}
Expand All @@ -792,8 +793,7 @@ contract Hub is IHub, AccessManaged {

asset.addedShares += shares;
feeReceiverSpoke.addedShares += shares;
asset.realizedFees = 0;
emit MintFeeShares(assetId, feeReceiver, shares, fees);
emit MintFeeShares(assetId, feeReceiver, shares);

return shares;
}
Expand Down
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