feat: monitor Yearn lender-borrower risk

automation/jobs.yaml

@@ -5,9 +5,9 @@
 #   - the yearn-monitor systemd unit, whose ExecStartPre renders this into a supercronic
 #     crontab on start (see deploy/runbook.md).
 #
-# Adding or removing a script: edit the relevant profile's `tasks:` and merge to main. The
+# Adding or removing a task in an existing profile: edit its `tasks:` and merge to main. The
 # multisig profile's pre-run sync (sync_before_run, below) lands it on the box within
-# ~10 min — no restart needed. Only a `cron:` cadence change requires sync +
+# ~10 min — no restart needed. Adding/removing a profile or changing `cron:` requires sync +
 # `sudo systemctl restart monitoring` to re-render the crontab (see deploy/runbook.md).
 #
 # Each task invokes one script. CLI flags go under `args:` as `key: value` and are emitted as
@@ -17,6 +17,22 @@
 
 profiles:
 
+  half_hourly:
+    cron: "*/30 * * * *"
+    description: "Thirty-minute risk monitoring for active Yearn strategies."
+    tasks:
+      - name: "yearn-lender-borrower-ltv"
+        script: protocols/yearn/lender_borrower.py
+        args: { checks: ltv }
+
+  six_hourly:
+    cron: "17 */6 * * *"
+    description: "Six-hour rate and debt-coverage monitoring for active Yearn strategies."
+    tasks:
+      - name: "yearn-lender-borrower-rates-and-coverage"
+        script: protocols/yearn/lender_borrower.py
+        args: { checks: rates-and-coverage }
+
   hourly:
     cron: "5 * * * *"
     description: "Hourly monitoring (was .github/workflows/hourly.yml)."

deploy/runbook.md

@@ -71,7 +71,8 @@ uv run python -m automation run hourly --dry-run
 uv run python -m automation run hourly
 ```
 
-Available profiles: `hourly`, `daily`, `multisig` (see `automation/jobs.yaml`).
+Available profiles: `half_hourly`, `six_hourly`, `hourly`, `daily`, `multisig`
+(see `automation/jobs.yaml`).
 
 ---
 
@@ -101,8 +102,8 @@ PR and the next ~10-min multisig tick syncs it in; no SSH needed.**
 auto-sync but stay inert until a restart, because they're read once at scheduler
 boot, not per-tick:
 
-- a `cron:` *cadence* change in `jobs.yaml` (the crontab is rendered at unit
-  start by `ExecStartPre`), and
+- adding/removing a profile or changing a profile's `cron:` *cadence* in
+  `jobs.yaml` (the crontab is rendered at unit start by `ExecStartPre`), and
 - a `pyproject.toml` / `uv.lock` change (the venv).
 
 For those, after the PR merges:

monitoring.yaml

@@ -455,15 +455,19 @@ protocols:
 
   yearn:
     display_name: "Yearn"
-    description: "Yearn vault flow and timelock monitoring"
-    cadence: "Hourly / Daily"
+    description: "Yearn vault, strategy risk, and timelock monitoring"
+    cadence: "Every 30 minutes / 6 hours / Hourly / Daily"
     tasks:
+      - protocols/yearn/lender_borrower.py
       - protocols/yearn/alert_large_flows.py
       - protocols/yearn/check_timelock_delay.py
       - protocols/yearn/check_indexer_freshness.py
     monitors:
       - name: "Indexer Freshness"
         description: "Envio indexer lag per chain; alerts the Envio channel when a chain's newest indexed block is older than 60 minutes or the GraphQL endpoint is down"
+      - name: "Lender-Borrower Risk"
+        description: "Katana Morpho vbWBTC/yvUSDC: LTV every 30m; 24h net spread and debt coverage every 6h"
+        severity: "MEDIUM"
       - name: "Large Flows"
         description: "Deposit/withdrawal flows >=$500k USD (Katana withdrawals >=$50k; or 10% of vault totalSupply fallback for unpriced tokens)"
       - name: "Timelock Delay"

protocols/yearn/README.md

@@ -2,6 +2,27 @@
 
 This folder contains monitoring scripts for Yearn vault activity, Safe multisig queues, and timelock operations.
 
+## Lender-Borrower Risk
+
+The script `yearn/lender_borrower.py` monitors the active Katana Morpho `vbWBTC/yvUSDC` lender-borrower strategy. The strategy deposits vbWBTC as Morpho collateral, borrows vbUSDC, and lends the borrowed vbUSDC into the Yearn vbUSDC vault.
+
+### Checks
+
+1. **Liquidation risk**: reproduces the strategy warning LTV from Morpho's LLTV and `warningLTVMultiplier()`, then alerts when `getCurrentLTV()` exceeds it. The displayed vbWBTC and vbUSDC prices come from the strategy's Morpho and USD oracles. The borrow-token USD feed must have updated within 26 hours. Runs every 30 minutes.
+2. **Net spread**: derives Morpho's instantaneous borrow APR from the adaptive IRM's window-average rate and subtracts it from the lender vault APR returned by Yearn's APR oracle. A medium alert fires after at least three samples when the rolling 24-hour average is below `-1%`. A zero lender APR is treated as unavailable data, alerts, and is not stored as a rate sample. Runs every six hours.
+3. **Debt coverage**: compares `balanceOfLentAssets() + balanceOfBorrowToken()` with `balanceOfDebt()`. A medium alert fires when the deficit is both at least 10 basis points of debt and worth at least $100. Runs every six hours with the net-spread check.
+
+All breach, unavailable-data, and monitor-error alerts use `MEDIUM` severity and route to the internal curation Telegram channel, falling back to the Yearn channel when curation is not configured. MEDIUM sends Telegram without invoking the HIGH/CRITICAL emergency-dispatch hook. Persistent breaches and errors are deduplicated and reminded once per 24 hours. The monitor is read-only and does not initiate deleveraging.
+
+### Usage
+
+```bash
+uv run protocols/yearn/lender_borrower.py --checks=ltv --dry-run
+uv run protocols/yearn/lender_borrower.py --checks=rates-and-coverage --dry-run
+```
+
+Omit `--dry-run` to persist rate samples and send configured alerts.
+
 ## Large Flows
 
 The script `yearn/alert_large_flows.py` checks recent deposit and withdrawal events and sends a Telegram alert when a single flow exceeds a USD threshold. It runs hourly via the [monitoring runner](../automation/jobs.yaml).

protocols/yearn/abi/AprOracle.json

@@ -0,0 +1,9 @@
+[
+  {
+    "inputs": [{"name": "strategy", "type": "address"}, {"name": "delta", "type": "int256"}],
+    "name": "getStrategyApr",
+    "outputs": [{"name": "apr", "type": "uint256"}],
+    "stateMutability": "view",
+    "type": "function"
+  }
+]

protocols/yearn/abi/LenderBorrower.json

@@ -0,0 +1,30 @@
+[
+  {"inputs": [], "name": "name", "outputs": [{"type": "string"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "asset", "outputs": [{"type": "address"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "borrowToken", "outputs": [{"type": "address"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "lenderVault", "outputs": [{"type": "address"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "morpho", "outputs": [{"type": "address"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "marketId", "outputs": [{"type": "bytes32"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "borrowUsdOracle", "outputs": [{"type": "address"}], "stateMutability": "view", "type": "function"},
+  {
+    "inputs": [],
+    "name": "marketParams",
+    "outputs": [
+      {"name": "loanToken", "type": "address"},
+      {"name": "collateralToken", "type": "address"},
+      {"name": "oracle", "type": "address"},
+      {"name": "irm", "type": "address"},
+      {"name": "lltv", "type": "uint256"}
+    ],
+    "stateMutability": "view",
+    "type": "function"
+  },
+  {"inputs": [], "name": "balanceOfCollateral", "outputs": [{"type": "uint256"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "balanceOfDebt", "outputs": [{"type": "uint256"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "balanceOfLentAssets", "outputs": [{"type": "uint256"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "balanceOfBorrowToken", "outputs": [{"type": "uint256"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "getCurrentLTV", "outputs": [{"type": "uint256"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "getLiquidateCollateralFactor", "outputs": [{"type": "uint256"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "warningLTVMultiplier", "outputs": [{"type": "uint16"}], "stateMutability": "view", "type": "function"},
+  {"inputs": [], "name": "targetLTVMultiplier", "outputs": [{"type": "uint16"}], "stateMutability": "view", "type": "function"}
+]

protocols/yearn/abi/MorphoCore.json

@@ -0,0 +1,16 @@
+[
+  {
+    "inputs": [{"name": "id", "type": "bytes32"}],
+    "name": "market",
+    "outputs": [
+      {"name": "totalSupplyAssets", "type": "uint128"},
+      {"name": "totalSupplyShares", "type": "uint128"},
+      {"name": "totalBorrowAssets", "type": "uint128"},
+      {"name": "totalBorrowShares", "type": "uint128"},
+      {"name": "lastUpdate", "type": "uint128"},
+      {"name": "fee", "type": "uint128"}
+    ],
+    "stateMutability": "view",
+    "type": "function"
+  }
+]

protocols/yearn/abi/MorphoIrm.json

@@ -0,0 +1,33 @@
+[
+  {
+    "inputs": [
+      {
+        "name": "marketParams",
+        "type": "tuple",
+        "components": [
+          {"name": "loanToken", "type": "address"},
+          {"name": "collateralToken", "type": "address"},
+          {"name": "oracle", "type": "address"},
+          {"name": "irm", "type": "address"},
+          {"name": "lltv", "type": "uint256"}
+        ]
+      },
+      {
+        "name": "market",
+        "type": "tuple",
+        "components": [
+          {"name": "totalSupplyAssets", "type": "uint128"},
+          {"name": "totalSupplyShares", "type": "uint128"},
+          {"name": "totalBorrowAssets", "type": "uint128"},
+          {"name": "totalBorrowShares", "type": "uint128"},
+          {"name": "lastUpdate", "type": "uint128"},
+          {"name": "fee", "type": "uint128"}
+        ]
+      }
+    ],
+    "name": "borrowRateView",
+    "outputs": [{"name": "rate", "type": "uint256"}],
+    "stateMutability": "view",
+    "type": "function"
+  }
+]

protocols/yearn/abi/MorphoOracle.json

@@ -0,0 +1,3 @@
+[
+  {"inputs": [], "name": "price", "outputs": [{"type": "uint256"}], "stateMutability": "view", "type": "function"}
+]