Merist documentation

An isolated capital account for eligible debt repayment and atomic collateral conversion.

Current availability

The first mainnet release is owner-operated. The application supports one reviewed NVDA market and a direct USDG sale route; no hosted keeper is active. The separate public testnet demonstration uses labelled no-value tokens and mutable mock venues. It is not a mainnet investment.

Discovery matched 175 Stock Token/USDG markets out of 409 Morpho markets. These are not all approved. The application initially permits only market 0x66306c087add8907752320b309934abcc354d21626de8115c79df49d9c214edc, using the reviewed NVDA and USDG Chainlink feeds. This market is unlisted in the Morpho API. Its oracle runtime, feed addresses, scaling and current timestamps are checked. The latest discovery found no near-threshold borrower in the Stock Token catalogue; no continuous opportunities are implied.

Execution evidence

On 11 October 2026, a historical mainnet-state fork reproduced the NVDA liquidation at block 59,451,331: 1.681145 USDG repaid, 0.008674302528340851 raw NVDA received, and 1.897043 USDG recovered through the actual Uniswap 0.05% pool. Retained surplus was 0.215898 USDG before ETH gas. Owner withdrawal and zero remaining allowances were verified.

The original borrower, oracle, debt and pool state were used without changing the oracle or borrower storage. Test capital was transferred from an existing USDG holder on the local fork only. This was not a Merist mainnet transaction. Shanghai EVM replay does not model native Orbit fees. A separate current NodeInterface L1-data estimate and measured EVM gas were valued with fresh ETH/USDG feeds and a 25% margin; estimates are repeated for the actual funded account before submission. This historical example is not a current quote or return forecast.

Original third-party liquidation receipt

Account and permissions

Each account has a fixed owner, cash token, Morpho singleton, swap router and venue factory. The owner deposits USDG, authorizes a market and direct collateral-to-USDG pool, and chooses a positive minimum retained surplus. There are no pooled shares or lending deposits.

Approved executions may be submitted by any executor. An optional executor reward comes only from positive USDG surplus and is capped at 20%. The first application sets this reward to zero and is operated by the owner. There is no protocol fee or hosted keeper. Depositing does not itself execute liquidations.

The owner can pause execution or revoke markets. Withdrawals go only to that owner, including while paused. The factory records account provenance; it has no administrator or separate sweep destination. The account contract permits owner-selected markets beyond the application’s reviewed catalogue, so direct contract use requires an independent review of any additional market.

One execution

Choose a borrower and raw collateral amount, with a maximum USDG repayment.
Simulate the entire liquidation and sale, verify price freshness, and estimate total gas including parent-chain data.
Review repayment, proceeds, retained surplus and estimated net result.
Recheck the wallet, network and fresh simulation before signing.
Repay the eligible debt, sell only newly recovered collateral and clear allowances in one atomic transaction.
Revert if the owner’s retained minimum is not met.

Previews expire after 30 seconds. The onchain minimum excludes ETH gas; the app separately requires a positive result after a buffered gas estimate. Wallet fee overrides, changes in execution gas, price or eligibility can change the result. A reverted transaction can consume gas. Any executor pays its own gas separately.

Stock Token units

Collateral quantities are raw ERC-20 units, not whole shares. Corporate actions use an adjustment multiplier. Chainlink prices already reflect the issuer adjustment: do not multiply them again. A ticker alone is never an address check.

Risks and limitations

The code is unaudited. Historical execution and successful tests are not an independent security audit. Oracle freshness, issuer restrictions, token or feed proxy upgrades, accrued interest, transaction ordering, MEV, corporate actions and executable exit liquidity matter. Another liquidator can act first or a borrower can become healthy.

The balance guard is not a guarantee of USDG purchasing power, token solvency or financial return. No APY, recurring liquidation volume or continuous service is promised. Public RPC and API availability are best-effort. Testnet fixtures are publicly mutable and have no monetary value.