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feat: wire Velora partner fee recipient and safe default fee #436

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9344fd1
feat: add Velora partner recipient and fee defaults
starksama Mar 5, 2026
d57396e
feat: enable direct transfer mode for Velora partner fee
starksama Mar 5, 2026
6dcd151
chore: fee
antoncoding Mar 5, 2026
55c76d2
chore: review fixes
antoncoding Mar 5, 2026
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54 changes: 50 additions & 4 deletions src/features/swap/api/velora.ts
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Original file line number Diff line number Diff line change
@@ -1,6 +1,6 @@
import { isAddress, isHex, type Address } from 'viem';
import { toCanonicalTokenAddress } from '@/types/token';
import { SWAP_PARTNER, VELORA_API_BASE_URL, VELORA_PRICES_API_VERSION } from '../constants';
import { SWAP_PARTNER, SWAP_PARTNER_ADDRESS, SWAP_PARTNER_FEE_BPS, VELORA_API_BASE_URL, VELORA_PRICES_API_VERSION } from '../constants';

export type VeloraSwapSide = 'SELL' | 'BUY';

Expand Down Expand Up @@ -52,6 +52,9 @@ export type FetchVeloraPriceRouteParams = {
network: number;
userAddress: Address;
partner?: string;
partnerAddress?: Address;
partnerFeeBps?: number;
chargeFee?: boolean;
side?: VeloraSwapSide;
};

Expand All @@ -66,6 +69,9 @@ export type BuildVeloraTransactionPayloadParams = {
priceRoute: VeloraPriceRoute;
slippageBps: number;
partner?: string;
partnerAddress?: Address;
partnerFeeBps?: number;
chargeFee?: boolean;
ignoreChecks?: boolean;
};

Expand All @@ -80,6 +86,9 @@ export type PrepareVeloraSwapPayloadParams = {
slippageBps: number;
side?: VeloraSwapSide;
partner?: string;
partnerAddress?: Address;
partnerFeeBps?: number;
chargeFee?: boolean;
ignoreChecks?: boolean;
};

Expand Down Expand Up @@ -129,6 +138,14 @@ const getVeloraApiErrorMessage = (payload: unknown, fallbackMessage: string): st
return message === 'Unknown Velora API error' ? fallbackMessage : message;
};

const normalizePartnerFeeBps = (partnerFeeBps: number): number => {
if (!Number.isInteger(partnerFeeBps) || partnerFeeBps < 0) {
throw new VeloraApiError('Velora partner fee bps must be a non-negative integer', 400, { partnerFeeBps });
}

return partnerFeeBps;
};
Comment on lines +141 to +147
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⚠️ Potential issue | 🟡 Minor

🧩 Analysis chain

🏁 Script executed:

cat -n src/features/swap/api/velora.ts | sed -n '130,155p'

Repository: antoncoding/monarch

Length of output: 1084

🏁 Script executed:

# Check for any existing safe-integer checks or bps constraints in the codebase
rg -n "isSafeInteger|MAX.*BPS|PARTNER.*FEE" src/features/swap/

Repository: antoncoding/monarch

Length of output: 747

🏁 Script executed:

# Look at the full normalizePartnerFeeBps context and its call sites
rg -B5 -A10 "const normalizePartnerFeeBps" src/features/swap/api/velora.ts

Repository: antoncoding/monarch

Length of output: 699

🏁 Script executed:

# Check what value range is typical for partner fee bps in configs/constants
rg -n "PARTNER.*FEE|partnerFeeBps" src/features/swap/ -A2 | head -40

Repository: antoncoding/monarch

Length of output: 2219

Harden partner fee validation: use isSafeInteger and upper bound.

Number.isInteger alone misses precision constraints. Use Number.isSafeInteger and add an upper bound check (bps cannot exceed 10,000).

Suggested fix 
 const normalizePartnerFeeBps = (partnerFeeBps: number): number => {
-  if (!Number.isInteger(partnerFeeBps) || partnerFeeBps < 0) {
+  const MAX_PARTNER_FEE_BPS = 10_000;
+  if (!Number.isSafeInteger(partnerFeeBps) || partnerFeeBps < 0 || partnerFeeBps > MAX_PARTNER_FEE_BPS) {
     throw new VeloraApiError('Velora partner fee bps must be a non-negative integer', 400, { partnerFeeBps });
   }
 
   return partnerFeeBps;
 };
📝 Committable suggestion

‼️ IMPORTANT
Carefully review the code before committing. Ensure that it accurately replaces the highlighted code, contains no missing lines, and has no issues with indentation. Thoroughly test & benchmark the code to ensure it meets the requirements.

Suggested change
const normalizePartnerFeeBps = (partnerFeeBps: number): number => {
if (!Number.isInteger(partnerFeeBps) || partnerFeeBps < 0) {
throw new VeloraApiError('Velora partner fee bps must be a non-negative integer', 400, { partnerFeeBps });
}
return partnerFeeBps;
};
const normalizePartnerFeeBps = (partnerFeeBps: number): number => {
const MAX_PARTNER_FEE_BPS = 10_000;
if (!Number.isSafeInteger(partnerFeeBps) || partnerFeeBps < 0 || partnerFeeBps > MAX_PARTNER_FEE_BPS) {
throw new VeloraApiError('Velora partner fee bps must be a non-negative integer', 400, { partnerFeeBps });
}
return partnerFeeBps;
};
🤖 Prompt for AI Agents 
Verify each finding against the current code and only fix it if needed.

In `@src/features/swap/api/velora.ts` around lines 138 - 144, The partner fee
validation in normalizePartnerFeeBps is too weak—replace Number.isInteger check
with Number.isSafeInteger and add an upper bound so partnerFeeBps is between 0
and 10,000 inclusive; on validation failure continue to throw VeloraApiError
with the same message/status but include the invalid value in the metadata
(partnerFeeBps) and use the new validation logic in the normalizePartnerFeeBps
function.


const fetchVeloraJson = async <T>(url: string, init?: RequestInit): Promise<T> => {
try {
const response = await fetch(url, init);
Expand Down Expand Up @@ -261,6 +278,9 @@ export const fetchVeloraPriceRoute = async ({
network,
userAddress,
partner = SWAP_PARTNER,
partnerAddress = SWAP_PARTNER_ADDRESS,
partnerFeeBps = SWAP_PARTNER_FEE_BPS,
chargeFee = true,
side = 'SELL',
}: FetchVeloraPriceRouteParams): Promise<VeloraPriceRoute> => {
const requestedSourceTokenAddress = toCanonicalTokenAddress(srcToken);
Expand All @@ -282,10 +302,16 @@ export const fetchVeloraPriceRoute = async ({
side,
network: network.toString(),
userAddress,
partner,
version: VELORA_PRICES_API_VERSION,
});

if (chargeFee) {
const effectivePartnerFeeBps = normalizePartnerFeeBps(partnerFeeBps);
query.set('partner', partner);
query.set('partnerAddress', partnerAddress);
query.set('partnerFeeBps', effectivePartnerFeeBps.toString());
}

const response = await fetchVeloraJson<VeloraPriceResponse | null>(`${VELORA_API_BASE_URL}/prices?${query.toString()}`, {
method: 'GET',
});
Expand Down Expand Up @@ -328,6 +354,9 @@ export const buildVeloraTransactionPayload = async ({
priceRoute,
slippageBps,
partner = SWAP_PARTNER,
partnerAddress = SWAP_PARTNER_ADDRESS,
partnerFeeBps = SWAP_PARTNER_FEE_BPS,
chargeFee = true,
ignoreChecks = false,
}: BuildVeloraTransactionPayloadParams): Promise<VeloraTransactionPayload> => {
if (srcAmount <= 0n) {
Expand Down Expand Up @@ -383,7 +412,7 @@ export const buildVeloraTransactionPayload = async ({
query.size > 0
? `${VELORA_API_BASE_URL}/transactions/${network}?${query.toString()}`
: `${VELORA_API_BASE_URL}/transactions/${network}`;
const requestBody = {
const requestBody: Record<string, unknown> = {
srcToken,
srcDecimals,
destToken,
Expand All @@ -393,9 +422,17 @@ export const buildVeloraTransactionPayload = async ({
slippage: slippageBps,
priceRoute,
userAddress,
partner,
};

if (chargeFee) {
const effectivePartnerFeeBps = normalizePartnerFeeBps(partnerFeeBps);
requestBody.partner = partner;
requestBody.partnerAddress = partnerAddress;
requestBody.partnerFeeBps = effectivePartnerFeeBps;
requestBody.isDirectFeeTransfer = true;
requestBody.takeSurplus = true;
}

const response = await fetchVeloraJson<VeloraBuildTransactionResponse | null>(transactionUrl, {
method: 'POST',
headers: {
Expand Down Expand Up @@ -433,6 +470,9 @@ export const prepareVeloraSwapPayload = async ({
slippageBps,
side = 'SELL',
partner = SWAP_PARTNER,
partnerAddress = SWAP_PARTNER_ADDRESS,
partnerFeeBps = SWAP_PARTNER_FEE_BPS,
chargeFee = true,
ignoreChecks = false,
}: PrepareVeloraSwapPayloadParams): Promise<{ priceRoute: VeloraPriceRoute; txPayload: VeloraTransactionPayload }> => {
if (side !== 'SELL') {
Expand All @@ -449,6 +489,9 @@ export const prepareVeloraSwapPayload = async ({
userAddress,
side: 'SELL',
partner,
partnerAddress,
partnerFeeBps,
chargeFee,
});

const txPayload = await buildVeloraTransactionPayload({
Expand All @@ -462,6 +505,9 @@ export const prepareVeloraSwapPayload = async ({
priceRoute,
slippageBps,
partner,
partnerAddress,
partnerFeeBps,
chargeFee,
ignoreChecks,
});

Expand Down
108 changes: 89 additions & 19 deletions src/features/swap/components/SwapModal.tsx
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Original file line number Diff line number Diff line change
Expand Up @@ -8,10 +8,13 @@ import { Modal, ModalBody, ModalFooter, ModalHeader } from '@/components/common/
import { Button } from '@/components/ui/button';
import { ExecuteTransactionButton } from '@/components/ui/ExecuteTransactionButton';
import { Spinner } from '@/components/ui/spinner';
import { TokenIcon } from '@/components/shared/token-icon';
import { Tooltip } from '@/components/ui/tooltip';
import { useUserBalancesQuery } from '@/hooks/queries/useUserBalancesQuery';
import { useMarketsQuery } from '@/hooks/queries/useMarketsQuery';
import { useTokensQuery } from '@/hooks/queries/useTokensQuery';
import { useAllowance } from '@/hooks/useAllowance';
import { formatTokenAmountPreview, withSlippageFloor } from '@/hooks/leverage/math';
import { formatBalance } from '@/utils/balance';
import { isValidDecimalInput, sanitizeDecimalInput, toParseableDecimalInput } from '@/utils/decimal-input';
import { formatCompactTokenAmount } from '@/utils/token-amount-format';
Expand Down Expand Up @@ -39,6 +42,7 @@ export function SwapModal({ isOpen, onClose, defaultTargetToken }: SwapModalProp
const [amount, setAmount] = useState<bigint>(BigInt(0));
const [slippage, setSlippage] = useState<number>(DEFAULT_SLIPPAGE_PERCENT);
const [isRateInverted, setIsRateInverted] = useState(false);
const swapSlippageBps = useMemo(() => slippagePercentToBps(slippage), [slippage]);
const amountInputClassName =
'h-10 w-full rounded bg-hovered px-3 pr-44 text-lg font-medium tabular-nums focus:border-primary focus:outline-none';

Expand Down Expand Up @@ -146,7 +150,7 @@ export function SwapModal({ isOpen, onClose, defaultTargetToken }: SwapModalProp
sourceToken,
targetToken,
amount,
slippageBps: slippagePercentToBps(slippage),
slippageBps: swapSlippageBps,
onSwapConfirmed: handleSwapConfirmed,
});

Expand Down Expand Up @@ -287,6 +291,20 @@ export function SwapModal({ isOpen, onClose, defaultTargetToken }: SwapModalProp
});
}, [quote, sourceToken, targetToken, error, chainsMatch, isRateInverted]);

const receivePreview = useMemo(() => {
if (!quote || !targetToken || error || !chainsMatch) return null;
return formatTokenAmountPreview(quote.buyAmount, targetToken.decimals);
}, [quote, targetToken, error, chainsMatch]);

const minReceivePreview = useMemo(() => {
if (!quote || !targetToken || error || !chainsMatch) return null;
return formatTokenAmountPreview(withSlippageFloor(quote.buyAmount, swapSlippageBps), targetToken.decimals);
}, [quote, targetToken, error, chainsMatch, swapSlippageBps]);
const zeroReceivePreview = useMemo(() => {
if (!targetToken) return null;
return formatTokenAmountPreview(0n, targetToken.decimals);
}, [targetToken]);

return (
<Modal
isOpen={isOpen}
Expand Down Expand Up @@ -361,28 +379,80 @@ export function SwapModal({ isOpen, onClose, defaultTargetToken }: SwapModalProp
triggerVariant="inline"
/>
}
footer={
<div className="mt-0.5 flex items-center gap-1.5 text-xs text-secondary">
{ratePreviewText && (
<button
type="button"
onClick={() => setIsRateInverted((prev) => !prev)}
className="inline-flex shrink-0 rounded p-0.5 transition hover:bg-surface hover:text-primary"
aria-label="Swap price direction"
>
<IoIosSwap className="h-3.5 w-3.5" />
</button>
footer={null}
/>

{/* Transaction Preview */}
<div className="rounded border border-white/10 bg-hovered px-3 py-2.5">
<p className="mb-2 text-xs uppercase tracking-[0.14em] text-secondary">TRANSACTION PREVIEW</p>
<div className="space-y-1 text-xs">
<div className="flex items-center justify-between gap-3">
<span className="text-secondary">Est. Receive</span>
{!targetToken || !zeroReceivePreview ? (
<span className="text-right">-</span>
) : isQuoting ? (
<span className="text-right">Quoting...</span>
) : (
<span className="tabular-nums inline-flex items-center gap-1.5">
<Tooltip content={<span className="text-xs">{(receivePreview ?? zeroReceivePreview).full}</span>}>
<span className="cursor-help border-b border-dotted border-white/40">
{(receivePreview ?? zeroReceivePreview).compact}
</span>
</Tooltip>
<TokenIcon
address={targetToken.address}
chainId={targetToken.chainId}
symbol={targetToken.symbol}
width={14}
height={14}
/>
</span>
)}
<span className="truncate">{ratePreviewText}</span>
</div>
}
/>

{/* Slippage */}
<div className="pt-2">
<div className="rounded bg-hovered px-3 py-2">
<div className="flex items-center justify-between gap-3">
<span className="text-secondary">Min Receive</span>
{!targetToken || !zeroReceivePreview ? (
<span className="text-right">-</span>
) : isQuoting ? (
<span className="text-right">Quoting...</span>
) : (
<span className="tabular-nums inline-flex items-center gap-1.5">
<Tooltip content={<span className="text-xs">{(minReceivePreview ?? zeroReceivePreview).full}</span>}>
<span className="cursor-help border-b border-dotted border-white/40">
{(minReceivePreview ?? zeroReceivePreview).compact}
</span>
</Tooltip>
<TokenIcon
address={targetToken.address}
chainId={targetToken.chainId}
symbol={targetToken.symbol}
width={14}
height={14}
/>
</span>
)}
</div>

<div className="flex items-center justify-between gap-3">
<span className="text-secondary">Swap Quote</span>
<span className="inline-flex items-center gap-1.5 text-right">
{ratePreviewText && (
<button
type="button"
onClick={() => setIsRateInverted((prev) => !prev)}
className="inline-flex shrink-0 rounded p-0.5 transition hover:bg-surface hover:text-primary"
aria-label="Swap price direction"
>
<IoIosSwap className="h-3.5 w-3.5" />
</button>
)}
<span>{ratePreviewText ?? '-'}</span>
</span>
</div>

<div className="flex items-center justify-between text-xs">
<span className="text-secondary">Max slippage</span>
<span className="text-secondary">Max Slippage</span>
<SlippageInlineEditor
value={slippage}
onChange={setSlippage}
Expand Down
13 changes: 13 additions & 0 deletions src/features/swap/constants.ts
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Original file line number Diff line number Diff line change
@@ -1,8 +1,21 @@
import { MONARCH_FEE_RECIPIENT } from '@/config/smart-rebalance';

/**
* Application identifier for Velora integration
*/
export const SWAP_PARTNER = 'monarchlend';

/**
* Recipient for Velora partner fees.
* Reuses Monarch's existing fee recipient configuration.
*/
export const SWAP_PARTNER_ADDRESS = MONARCH_FEE_RECIPIENT;

/**
* Velora partner fee in basis points. Velora enforces integer bps values.
*/
export const SWAP_PARTNER_FEE_BPS = 1;

/**
* Velora API base URL
*/
Expand Down
5 changes: 5 additions & 0 deletions src/features/swap/hooks/useVeloraSwap.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -27,6 +27,7 @@ type UseVeloraSwapReturn = {
};

const QUOTE_DEBOUNCE_MS = 800;
const CHARGE_SWAP_FEE = true;

const parseErrorMessage = (err: unknown): string => {
return toUserFacingTransactionErrorMessage(err, 'An unknown error occurred');
Expand Down Expand Up @@ -103,6 +104,7 @@ export function useVeloraSwap({
amount,
network: sourceToken.chainId,
userAddress: account,
chargeFee: CHARGE_SWAP_FEE,
});

const buyAmount = BigInt(nextPriceRoute.destAmount);
Expand Down Expand Up @@ -146,6 +148,7 @@ export function useVeloraSwap({
userAddress: account,
priceRoute: activePriceRoute,
slippageBps,
chargeFee: CHARGE_SWAP_FEE,
});
} catch (buildError: unknown) {
if (!isVeloraRateChangedError(buildError)) {
Expand All @@ -160,6 +163,7 @@ export function useVeloraSwap({
amount,
network: sourceToken.chainId,
userAddress: account,
chargeFee: CHARGE_SWAP_FEE,
});
activePriceRoute = refreshedRoute;
setPriceRoute(refreshedRoute);
Expand All @@ -184,6 +188,7 @@ export function useVeloraSwap({
userAddress: account,
priceRoute: activePriceRoute,
slippageBps,
chargeFee: CHARGE_SWAP_FEE,
});
}

Expand Down
4 changes: 4 additions & 0 deletions src/hooks/useDeleverageQuote.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -6,6 +6,8 @@ import { fetchVeloraPriceRoute, type VeloraPriceRoute } from '@/features/swap/ap
import { withSlippageCeil, withSlippageFloor } from './leverage/math';
import type { LeverageRoute } from './leverage/types';

const CHARGE_SWAP_FEE = true;

type UseDeleverageQuoteParams = {
chainId: number;
route: LeverageRoute | null;
Expand Down Expand Up @@ -109,6 +111,7 @@ export function useDeleverageQuote({
amount: withdrawCollateralAmount,
network: chainId,
userAddress: swapExecutionAddress as `0x${string}`,
chargeFee: CHARGE_SWAP_FEE,
side: 'SELL',
});

Expand Down Expand Up @@ -148,6 +151,7 @@ export function useDeleverageQuote({
amount: bufferedBorrowAssets,
network: chainId,
userAddress: swapExecutionAddress as `0x${string}`,
chargeFee: CHARGE_SWAP_FEE,
side: 'BUY',
});
const quotedDebtCloseAmount = BigInt(buyRoute.destAmount);
Expand Down
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