Add Llamalend v2 developer documentation by mo-anon · Pull Request #122 · curvefi/docs

mo-anon · 2026-03-17T16:16:49Z

Summary

Adds a new Llamalend v2 section to the developer docs covering the core lending infrastructure contracts
Overview page with architecture diagram (Mermaid), new features, security improvements vs v1, Vyper module system explanation, and audit placeholder
5 contract reference pages: LendFactory, Vault, LendController, LendControllerView, AMM (LLAMMA) — all with function signatures, parameter tables, and return descriptions
Enables Mermaid diagram rendering site-wide (markdown.mermaid: true in docusaurus config)
Adds sidebar entry for the new section

Status: Work in Progress

This PR is not final. The contracts are still being finalized as audit findings are being addressed. Specifically:

Source code blocks (<SourceCode>) are intentionally left empty — they will be filled once the contract code is finalized and deployed
Example blocks (<Example>) are also empty — will be added with live <ContractCall> components once deployment addresses are available
ABI blocks are not yet included — will be added from the final deployed contracts
Deployment addresses are placeholders — will be updated post-deployment
The Audits section is a placeholder pending public release of audit reports

Once the code is finalized and deployed, a follow-up pass will fill in all source code, examples, ABIs, and deployment info.

Test plan

yarn build passes with no new errors
Review overview page content for accuracy
Verify Mermaid diagram renders correctly
Check all sidebar links work

🤖 Generated with Claude Code

New docs section covering the core lending infrastructure contracts for Llamalend v2: LendFactory, Vault, LendController, LendControllerView, and AMM (LLAMMA). Includes an overview page with architecture diagram, new features, security improvements, and Vyper module system explanation. Source code blocks and example blocks are left empty as the contracts are still being finalized (audit fixes ongoing). Also enables Mermaid diagram rendering site-wide. Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>

vercel · 2026-03-17T16:17:00Z

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Project	Deployment	Actions	Updated (UTC)
docs	Ready	Preview, Comment	Mar 20, 2026 1:15pm

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>

Macket · 2026-06-18T15:56:43Z

+| `max_amount` | `uint256` | Maximum input amount (slippage protection) |
+| `_for` | `address` | Address to receive the output tokens |
+
+Returns: `[in_amount, out_amount_done]` (`uint256[2]`).


out_amount_done can be less than out_amount if there is no enough liquidity in the AMM

Just a clarification

Macket · 2026-06-18T15:57:41Z

+| `j` | `uint256` | Output token index |
+| `in_amount` | `uint256` | Input amount |
+
+Returns: `[in_amount_done, out_amount]` (`uint256[2]`).


Macket · 2026-06-18T16:04:21Z

+
+::::description[`AMM.get_amount_for_price(_p: uint256) -> uint256: view`]
+
+Returns the amount of token 0 (borrowed token) needed to move the AMM price to `_p`.


It's wrong. It returns (amount, is_pump)

If is_pump=True, it means that we do borrowed->collateral exchange (pumping collateral). In this case amount is the borrowed token amount needed to pump the price to the passed _p value.

If is_pump=False, it means that we do collateral->borrowed exchange (dumping collateral). In this case amount is the collateral token amount needed to dump the price to the passed _p value.

Macket · 2026-06-18T16:08:40Z

+
+::::description[`AMM.price_oracle() -> uint256: view`]
+
+Returns the current price from the external price oracle, smoothed by the AMM's internal EMA.


It's not smoothed, it's clamped by MAX_P_O_CHG: constant(uint256) = 12500 * 10**14 # <= 2**(1/3) - max relative change to have fee < 50%

Macket · 2026-06-18T16:16:31Z

+
+::::description[`AMM.p_oracle_up(_n: int256) -> uint256: view`]
+
+Returns the upper oracle price boundary of band `_n` (based on the oracle price, not the current AMM state).


It just gives a price grid we use. Like uniswap ticks. For the band n there are p_oracle_up(n) and p_oracle_down(n) - upper and lower borders of the band. They are constants and are calculated like:

# p_oracle_up(n) = p_base * ((A - 1) / A) ** n # p_oracle_down(n) = p_base * ((A - 1) / A) ** (n + 1) = p_oracle_up(n+1)

Actually p_grid_up/down naming would be much better.

Also it worths to mention that band number can be negative. And it's counterintuitive: it's positive to the left from p_base and negative to the right. The higher n the lower the price.

Macket · 2026-06-18T16:16:44Z

+
+::::description[`AMM.p_oracle_down(_n: int256) -> uint256: view`]
+
+Returns the lower oracle price boundary of band `_n`.


Macket · 2026-06-18T16:17:13Z

+
+::::
+
+### `dynamic_fee`


Removed this finally

Macket · 2026-06-18T16:21:09Z

+
+::::description[`AMM.read_user_tick_numbers(_user: address) -> int256[2]: view`]
+
+Returns the upper and lower band indices of a user's position.


The order is [n1, n2]. n1 < n2 while p1 > p2

Macket · 2026-06-18T16:21:45Z

+
+::::description[`AMM.bands_x(_n: int256) -> uint256: view`]
+
+Returns the total amount of borrowed token in band `_n`.


With 18 decimals, it's not converted to real token decimals

Macket · 2026-06-18T16:21:53Z

+
+::::description[`AMM.bands_y(_n: int256) -> uint256: view`]
+
+Returns the total amount of collateral token in band `_n`.


Macket · 2026-06-18T16:23:32Z

+
+::::description[`AMM.fee() -> uint256: view`]
+
+Returns the current swap fee.


It's default fee without the dynamic part (min possible)

Macket · 2026-06-18T16:25:10Z

+
+::::description[`AMM.A() -> uint256: view`]
+
+Returns the amplification coefficient. Band width is approximately `1/A`.


It's not "the amplification coefficient". It's "the band width factor"

Macket · 2026-06-19T11:27:32Z

+
+::::description[`LendControllerView.liquidate_health_preview(_user: address, _full: bool) -> int256: view`]
+
+Previews health after liquidation.


After partial liquidation

Macket · 2026-06-19T14:54:24Z

+
+### `create_loan`
+
+::::description[`LendController.create_loan(_collateral: uint256, _debt: uint256, _N: uint256)`]


It's changed:

def create_loan( _collateral: uint256, _debt: uint256, _N: uint256, _for: address = msg.sender, _callbacker: address = empty(address), _calldata: Bytes[CALLDATA_MAX_SIZE] = b"", ):

Same about many other methods

Macket · 2026-06-19T14:56:27Z

@@ -0,0 +1,342 @@
+# LendControllerView


Update methods' signatures. It's changed

Macket · 2026-06-19T14:57:42Z

+
+::::description[`LendController.add_collateral(_d_collateral: uint256, _for: address)`]
+
+Adds collateral to an existing loan without borrowing more. Can be called by anyone on behalf of a borrower.


It's permissioned now. There are no permissionless methods anymore (except liquidationg unhealthy users)

Macket · 2026-06-19T15:00:38Z

+
+::::description[`LendController.health(_user: address, _full: bool) -> int256: view`]
+
+Returns the health of a user's loan. Health > 0 means the loan is safe; health < 0 means it can be liquidated. If `_full` is true, returns health assuming the worst-case scenario where all collateral has been soft-liquidated.


If _full is true it takes into account the collateral price
If _full is false it calculates the health like a user in the soft-liquidation mode

Macket · 2026-06-19T15:02:13Z

+
+::::
+
+### `borrow_more_health_preview`


All the health_preview signatures have been changed

Macket · 2026-06-19T15:03:04Z

+
+::::description[`LendController.available_balance() -> uint256: view`]
+
+Returns the amount of borrowed tokens currently available for new loans — i.e., the tokens deposited by lenders minus what's already lent out.


It doesn't count donations which is important

Macket · 2026-06-19T15:21:01Z

+
+::::description[`LendController.borrow_cap() -> uint256: view`]
+
+Returns the maximum total debt allowed for this market. If 0, there is no cap.


I would mention that it's 0 by default and requires admin action (DAO vote) to become > 0

Macket · 2026-06-19T15:23:42Z

+
+::::
+
+### `amm_price`


It's removed

Macket · 2026-06-19T15:24:36Z

+
+::::description[`LendController.admin_percentage() -> uint256: view`]
+
+Returns the current admin fee percentage.


10**18 == 100%

Macket · 2026-06-23T11:41:09Z

+| `_liquidation_discount` | `uint256` | Discount at which liquidation can occur |
+| `_price_oracle` | `address` | Initialized price oracle contract |
+| `_monetary_policy` | `address` | Initialized monetary policy contract |
+| `_name` | `String[64]` | Name for the vault token |


name has been removed

Macket · 2026-06-23T12:20:00Z

+| --- | --- | --- |
+| `_n` | `uint256` | Market index (0-based) |
+
+Returns: market struct containing vault, controller, amm, collateral token, borrowed token, and market index (`Market`).


Returns: vault, controller, amm, collateral token, borrowed token, price oracle and monetary policy addresses

Macket · 2026-06-23T12:24:45Z

+
+::::description[`LendFactory.vaults_index(_vault: IVault) -> uint256: view`]
+
+Returns the index of a vault in the factory registry. Uses a `2^128` offset internally — a return value of `0` means the vault is not registered.


Remove the second sentence. 0 desn't mean that

Macket · 2026-06-23T13:20:06Z

+
+n = factory.market_count()
+for i in range(n):
+    vault_addr = factory.vaults(i)


factory.vaults(i) has been removed from LendFactory. Use factory.markets(i) instead

Macket · 2026-06-23T13:54:57Z

+
+## New Features
+
+- **Any token as borrowed asset** — crvUSD is no longer the only allowed borrowable token. Any ERC20-compliant token can be used to create a lending market.


"Any token pair" would be more correct. crvUSD was required to be in each pair either as borrowed or as collateral.

vercel Bot deployed to Preview March 17, 2026 16:20 View deployment

Add vault integration guide and supply caps to Llamalend v2 docs

c28b68f

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>

vercel Bot deployed to Preview March 20, 2026 13:15 View deployment

0xtutti approved these changes Jun 11, 2026

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Macket reviewed Jun 18, 2026

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Comment thread docs/developer/llamalend-v2/amm.md

::::

### `dynamic_fee`

Macket Jun 18, 2026

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Removed this finally

Macket reviewed Jun 18, 2026

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Macket reviewed Jun 19, 2026

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Comment thread docs/developer/llamalend-v2/lend-controller.md

::::

### `amm_price`

Macket Jun 19, 2026

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It's removed

Macket reviewed Jun 19, 2026

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Macket reviewed Jun 23, 2026

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		::::description[`AMM.get_amount_for_price(_p: uint256) -> uint256: view`]

		Returns the amount of token 0 (borrowed token) needed to move the AMM price to `_p`.


		::::description[`AMM.price_oracle() -> uint256: view`]

		Returns the current price from the external price oracle, smoothed by the AMM's internal EMA.


		::::description[`AMM.p_oracle_up(_n: int256) -> uint256: view`]

		Returns the upper oracle price boundary of band `_n` (based on the oracle price, not the current AMM state).


		::::description[`AMM.p_oracle_down(_n: int256) -> uint256: view`]

		Returns the lower oracle price boundary of band `_n`.


		::::description[`AMM.read_user_tick_numbers(_user: address) -> int256[2]: view`]

		Returns the upper and lower band indices of a user's position.


		::::description[`AMM.bands_x(_n: int256) -> uint256: view`]

		Returns the total amount of borrowed token in band `_n`.


		::::description[`AMM.bands_y(_n: int256) -> uint256: view`]

		Returns the total amount of collateral token in band `_n`.


		::::description[`AMM.fee() -> uint256: view`]

		Returns the current swap fee.


		::::description[`AMM.A() -> uint256: view`]

		Returns the amplification coefficient. Band width is approximately `1/A`.


		::::description[`LendControllerView.liquidate_health_preview(_user: address, _full: bool) -> int256: view`]

		Previews health after liquidation.


		### `create_loan`

		::::description[`LendController.create_loan(_collateral: uint256, _debt: uint256, _N: uint256)`]


		::::description[`LendController.add_collateral(_d_collateral: uint256, _for: address)`]

		Adds collateral to an existing loan without borrowing more. Can be called by anyone on behalf of a borrower.


		::::description[`LendController.health(_user: address, _full: bool) -> int256: view`]

		Returns the health of a user's loan. Health > 0 means the loan is safe; health < 0 means it can be liquidated. If `_full` is true, returns health assuming the worst-case scenario where all collateral has been soft-liquidated.


		::::description[`LendController.available_balance() -> uint256: view`]

		Returns the amount of borrowed tokens currently available for new loans — i.e., the tokens deposited by lenders minus what's already lent out.


		::::description[`LendController.borrow_cap() -> uint256: view`]

		Returns the maximum total debt allowed for this market. If 0, there is no cap.


		::::description[`LendController.admin_percentage() -> uint256: view`]

		Returns the current admin fee percentage.


		::::description[`LendFactory.vaults_index(_vault: IVault) -> uint256: view`]

		Returns the index of a vault in the factory registry. Uses a `2^128` offset internally — a return value of `0` means the vault is not registered.


		## New Features

		- Any token as borrowed asset — crvUSD is no longer the only allowed borrowable token. Any ERC20-compliant token can be used to create a lending market.

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mo-anon commented Mar 17, 2026

Summary

Status: Work in Progress

Test plan

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vercel Bot commented Mar 17, 2026 • edited Loading Uh oh! There was an error while loading. Please reload this page.

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Macket Jun 19, 2026 • edited Loading Uh oh! There was an error while loading. Please reload this page.

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vercel Bot commented Mar 17, 2026 •

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Macket Jun 19, 2026 •

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