Add Credit Market AMO Strategy#2927
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Codecov Report❌ Patch coverage is
Additional details and impacted files@@ Coverage Diff @@
## master #2927 +/- ##
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+ Coverage 44.63% 45.37% +0.74%
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Files 110 112 +2
Lines 4920 4989 +69
Branches 1362 1381 +19
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+ Hits 2196 2264 +68
- Misses 2721 2722 +1
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naddison36
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Jun 19, 2026
naddison36
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A simple and clean implementation. Well done.
I think we need to decide if principal and accruedYield should be the true values or we just document that these aren't accurate as the netMinted amount will be less than the true principal amount once a burn has been done.
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Code Changes
Adds CreditMarketAMOStrategy, an AMO that mints an OToken and supplies it as the sole lender into a deposit-gated Morpho Vault V2 ("credit vault"). Borrowers post their own collateral and borrow the
OToken; the interest they pay grows the strategy's position and reaches OToken holders as rebase yield. The strategy only ever mints OToken in and burns OToken out — it never touches the Vault's backing
asset.
The contract is generic: the OToken, hard asset, and credit vault are set at deploy time, so one implementation serves OUSD or OETH. Wired up for OUSD first.
Key design decisions
only on-chain bound and must be sized below the protocol's real redeemable liquidity.