Add Covenant (Monad) Yield Coin pools#2681
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📝 WalkthroughWalkthroughThis PR adds a complete Covenant protocol adaptor to DefiLlama's yield-server for the Monad chain. It includes contract ABI definitions, market discovery and data fetching utilities, APY and TVL computation logic, and a formatted pool export function. ChangesCovenant Adaptor for Monad Chain
Sequence DiagramsequenceDiagram
participant Adaptor as apy() orchestrator
participant Chain as Monad Chain
participant Covenant as Covenant Contract
participant DataProvider as Data Provider
participant LlamaAPI as DefiLlama API
Adaptor->>Covenant: listMarketIds() fetch CreateMarket events
Covenant-->>Adaptor: marketIds[]
Adaptor->>DataProvider: getMarketsDetails(marketIds)
DataProvider->>Chain: query market state & params
Chain-->>DataProvider: MarketDetails[]
DataProvider-->>Adaptor: market data
Adaptor->>LlamaAPI: fetchMonUsdPrice()
LlamaAPI-->>Adaptor: monUsdPrice
Adaptor->>Adaptor: filter active markets
Adaptor->>Adaptor: computeYieldCoinApy(marketData)
Adaptor->>Adaptor: zTokenSupplyValueInQuote(marketData)
Adaptor->>Adaptor: compute tvlUsd
Adaptor-->>Adaptor: return pool[] with metrics
Estimated code review effort🎯 3 (Moderate) | ⏱️ ~20 minutes Suggested reviewers
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🚥 Pre-merge checks | ✅ 5✅ Passed checks (5 passed)
✏️ Tip: You can configure your own custom pre-merge checks in the settings. ✨ Finishing Touches🧪 Generate unit tests (beta)
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The covenant adapter exports pools: Test Suites: 1 passed, 1 total |
Matches Synthetix-v3's convention for sUSD (underlying = USDC, not SNX) and shmonad's use of WMON for MON-denominated yield. The Yield Coin (zToken) is a synthetic claim denominated in the quote unit, not in the deposited baseToken — exposing baseToken in underlyingTokens would mislead users searching the yields page.
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The covenant adapter exports pools: Test Suites: 1 passed, 1 total |
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The covenant adapter exports pools: Test Suites: 1 passed, 1 total |
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The covenant adapter exports pools: Test Suites: 1 passed, 1 total |
0xkr3p
reviewed
Jul 7, 2026
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file is not used, pls remove
0xkr3p
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Jul 7, 2026
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| const sdk = require('@defillama/sdk'); | |||
| const superagent = require('superagent'); | |||
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superagent is no longer used in the repository, pls use our pricing helpers in utils instead
0xkr3p
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Jul 7, 2026
| pool: `${d.zToken.tokenAddress.toLowerCase()}-${CHAIN}`, | ||
| chain: utils.formatChain(CHAIN), | ||
| project: PROJECT, | ||
| symbol: utils.formatSymbol(d.zToken.symbol), |
0xkr3p
reviewed
Jul 7, 2026
| apyBase, | ||
| underlyingTokens: [underlying.toLowerCase()], | ||
| url: `${APP_URL}/market/${d.marketId.toLowerCase()}?action=swap&input=base&output=yield`, | ||
| poolMeta: `${quoteSym} Yield Coin (backed by ${d.baseToken.symbol})`, |
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reduce the pool meta the text is very long
0xkr3p
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Jul 7, 2026
| } | ||
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| module.exports = { | ||
| timetravel: false, |
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pls add the protocolId: 7856
0xkr3p
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Jul 7, 2026
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| async function fetchMonUsdPrice() { | ||
| // Native MON, queried by chain identifier (no contract address for the gas token). | ||
| const res = await superagent.get( |
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use defilllama pricing helper in utils
0xkr3p
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Jul 7, 2026
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hi @amorphousguy, thanks for the pr - a few comments to resolve before we can merge
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Adds yield-server pools for Covenant on Monad. One pool per market for
the Yield Coin (zToken):
(EVMBlockchainAdapter.ts debtTokenAPYCalc), pulled from a single
DataProvider.getMarketsDetails call on Monad mainnet
converted to USD via the quote anchor (USDC = $1, MON via CoinGecko)
TVL adapter (already merged in DefiLlama-Adapters#19272):
https://defillama.com/protocol/covenant
Methodology rationale + source-of-truth ABIs:
https://github.com/covenant-labs/covenant-defillama
Summary by CodeRabbit
Release Notes