perf: optimize rpc usage

.env.local.example

@@ -44,8 +44,8 @@ NEXT_PUBLIC_ARBITRUM_RPC=
 NEXT_PUBLIC_ETHERLINK_RPC=
 NEXT_PUBLIC_HYPEREVM_RPC=
 NEXT_PUBLIC_MONAD_RPC=
-# Set to "false" locally to skip RPC historical-rate fallback when Morpho API rolling rates fail.
-NEXT_PUBLIC_ENABLE_MARKET_RATE_RPC_FALLBACK=true
+# Set to "true" only when RPC historical-rate fallback is intentionally needed.
+NEXT_PUBLIC_ENABLE_MARKET_RATE_RPC_FALLBACK=false
 
 
 # ==================== End of RPC Settings ====================

src/components/DataPrefetcher.tsx

@@ -1,22 +1,20 @@
 'use client';
 
 import { usePathname } from 'next/navigation';
-import { useMarketsQuery } from '@/hooks/queries/useMarketsQuery';
 import { useMorphoWhitelistStatusQuery } from '@/hooks/queries/useMorphoWhitelistStatusQuery';
 import { useTokensQuery } from '@/hooks/queries/useTokensQuery';
 import { useMerklCampaignsQuery } from '@/hooks/queries/useMerklCampaignsQuery';
 
 function DataPrefetcherContent() {
   useMorphoWhitelistStatusQuery();
-  useMarketsQuery();
   useTokensQuery();
   useMerklCampaignsQuery();
 
   return null;
 }
 
 /**
- * Triggeres data prefetching for markets, tokens, and Merkl campaigns.
+ * Triggeres data prefetching for tokens, whitelist metadata, and Merkl campaigns.
  * These hooks use React Query under the hood, which will cache the data for future use.
  * @returns
  */

src/constants/markets.ts

@@ -1,3 +1,14 @@
 export const DEFAULT_MIN_SUPPLY_USD = 1000;
 export const DEFAULT_MIN_LIQUIDITY_USD = 10_000;
-export const LOCKED_MARKET_APY_THRESHOLD = 15; // APY where 1.0 = 100%, so 15 = 1500%
+
+// APY values are stored as decimals: 1 = 100%, 15 = 1500%.
+// The default lock guard only hides clearly frozen markets with absurd APY.
+// ETH-pegged loan markets get a tighter guard because several locked WETH
+// markets sit around 200%, which is far below the generic 1500% cutoff but
+// still not a useful live market signal.
+export const LOCKED_MARKET_APY_THRESHOLDS = {
+  default: 15,
+  ethPegLoanAsset: 1,
+} as const;
+
+export const LOCKED_MARKET_APY_THRESHOLD = LOCKED_MARKET_APY_THRESHOLDS.default;

src/data-sources/monarch-api/markets.ts

@@ -6,6 +6,7 @@ import { isMarketRegistryEntryAllowed } from '@/utils/markets';
 import { getMorphoAddress } from '@/utils/morpho';
 import { isSupportedChain, type SupportedNetworks } from '@/utils/networks';
 import { infoToKey } from '@/utils/tokens';
+import type { ERC20Token } from '@/utils/tokens';
 import { resolveTokenInfos, type ResolvedTokenInfo, type TokenAddressInput } from '@/utils/tokenMetadata';
 import type { Market, MarketWarning } from '@/utils/types';
 import { UNRECOGNIZED_COLLATERAL, UNRECOGNIZED_LOAN } from '@/utils/warnings';
@@ -35,6 +36,15 @@ type MonarchMarketsPageResponse = {
   };
 };
 
+type MapMonarchMarketRowsOptions = {
+  resolveUnknownTokens?: boolean;
+  trustedTokens?: ERC20Token[];
+};
+
+type MapMonarchMarketOptions = {
+  warnOnMissingTokenInfo?: boolean;
+};
+
 const MONARCH_MARKETS_PAGE_SIZE = 1_000;
 const MONARCH_MARKETS_TIMEOUT_MS = 15_000;
 const MONARCH_MARKETS_ZERO_ADDRESS = zeroAddress.toLowerCase();
@@ -127,7 +137,11 @@ const getMarketTokenInputs = (markets: MonarchMarketRow[]): TokenAddressInput[]
   return tokens;
 };
 
-const mapMonarchMarketToMarket = (market: MonarchMarketRow, tokenInfos: Map<string, ResolvedTokenInfo>): Market | null => {
+const mapMonarchMarketToMarket = (
+  market: MonarchMarketRow,
+  tokenInfos: Map<string, ResolvedTokenInfo>,
+  options: MapMonarchMarketOptions = {},
+): Market | null => {
   if (!isSupportedChain(market.chainId)) {
     return null;
   }
@@ -150,7 +164,9 @@ const mapMonarchMarketToMarket = (market: MonarchMarketRow, tokenInfos: Map<stri
   const collateralAsset = tokenInfos.get(infoToKey(collateralAssetAddress, chainId));
 
   if (!loanAsset || !collateralAsset) {
-    console.warn(`Skipping Monarch market ${market.marketId} on chain ${chainId}: token decimals could not be resolved.`);
+    if (options.warnOnMissingTokenInfo ?? true) {
+      console.warn(`Skipping Monarch market ${market.marketId} on chain ${chainId}: token decimals could not be resolved.`);
+    }
     return null;
   }
 
@@ -203,18 +219,36 @@ const fetchMonarchMarketsPage = async (query: string, variables: Record<string,
   }
 };
 
-const mapMonarchMarketRows = async (rows: MonarchMarketRow[], customRpcUrls: CustomRpcUrls = {}): Promise<Market[]> => {
+const mapMonarchMarketRows = async (
+  rows: MonarchMarketRow[],
+  customRpcUrls: CustomRpcUrls = {},
+  options: MapMonarchMarketRowsOptions = {},
+): Promise<Market[]> => {
   if (rows.length === 0) {
     return [];
   }
 
-  const tokenInfos = await resolveTokenInfos(getMarketTokenInputs(rows), customRpcUrls);
+  const shouldResolveUnknownTokens = options.resolveUnknownTokens ?? true;
+  const tokenInfos = await resolveTokenInfos(getMarketTokenInputs(rows), customRpcUrls, {
+    resolveUnknownTokens: shouldResolveUnknownTokens,
+    trustedTokens: options.trustedTokens,
+  });
 
-  return rows.map((market) => mapMonarchMarketToMarket(market, tokenInfos)).filter((market): market is Market => market !== null);
+  return rows
+    .map((market) =>
+      mapMonarchMarketToMarket(market, tokenInfos, {
+        warnOnMissingTokenInfo: shouldResolveUnknownTokens,
+      }),
+    )
+    .filter((market): market is Market => market !== null);
 };
 
 // If `network` is omitted, this fetches the merged multi-chain market registry in one query path.
-export const fetchMonarchMarkets = async (network?: SupportedNetworks, customRpcUrls: CustomRpcUrls = {}): Promise<Market[]> => {
+export const fetchMonarchMarkets = async (
+  network?: SupportedNetworks,
+  customRpcUrls: CustomRpcUrls = {},
+  options: MapMonarchMarketRowsOptions = {},
+): Promise<Market[]> => {
   const query = buildEnvioMarketsPageQuery({
     useChainIdFilter: network !== undefined,
   });
@@ -242,7 +276,7 @@ export const fetchMonarchMarkets = async (network?: SupportedNetworks, customRpc
     offset += rows.length;
   }
 
-  return mapMonarchMarketRows(allRows, customRpcUrls);
+  return mapMonarchMarketRows(allRows, customRpcUrls, options);
 };
 
 export const fetchMonarchMarket = async (
@@ -256,6 +290,8 @@ export const fetchMonarchMarket = async (
     zeroAddress: MONARCH_MARKETS_ZERO_ADDRESS,
   });
 
-  const [market] = await mapMonarchMarketRows(rows, customRpcUrls);
+  const [market] = await mapMonarchMarketRows(rows, customRpcUrls, {
+    resolveUnknownTokens: true,
+  });
   return market ?? null;
 };

src/features/markets/components/table/market-table-body.tsx

@@ -10,7 +10,6 @@ import { MarketRiskIndicators } from '@/features/markets/components/market-risk-
 import OracleVendorBadge from '@/features/markets/components/oracle-vendor-badge';
 import { TrustedByCell } from '@/features/autovault/components/trusted-vault-badges';
 import { getVaultKey, type TrustedVault } from '@/constants/vaults/known_vaults';
-import { useProcessedMarkets } from '@/hooks/useProcessedMarkets';
 import { useRateLabel } from '@/hooks/useRateLabel';
 import { useStyledToast } from '@/hooks/useStyledToast';
 import { useMarketPreferences } from '@/stores/useMarketPreferences';
@@ -26,14 +25,20 @@ type MarketTableBodyProps = {
   expandedRowId: string | null;
   setExpandedRowId: (id: string | null) => void;
   trustedVaultMap: Map<string, TrustedVault>;
+  rateEnrichmentPendingChainIds: Set<number>;
 };
 
 type HistoricalRateField = Exclude<keyof MarketRateEnrichment, 'apyAtTarget' | 'rateAtTarget'>;
 
-export function MarketTableBody({ currentEntries, expandedRowId, setExpandedRowId, trustedVaultMap }: MarketTableBodyProps) {
+export function MarketTableBody({
+  currentEntries,
+  expandedRowId,
+  setExpandedRowId,
+  trustedVaultMap,
+  rateEnrichmentPendingChainIds,
+}: MarketTableBodyProps) {
   const { columnVisibility, starredMarkets, starMarket, unstarMarket } = useMarketPreferences();
   const { success: toastSuccess } = useStyledToast();
-  const { rateEnrichmentPendingChainIds } = useProcessedMarkets();
 
   const { label: supplyRateLabel } = useRateLabel({ prefix: 'Supply' });
   const { label: borrowRateLabel } = useRateLabel({ prefix: 'Borrow' });

src/features/markets/components/table/markets-table.tsx

@@ -27,18 +27,6 @@ type MarketsTableProps = {
 };
 
 function MarketsTable({ currentPage, setCurrentPage, className, tableClassName, onRefresh, isMobile }: MarketsTableProps) {
-  // Get loading states directly from query (no prop drilling!)
-  const { isLoading: loading, isRefetching, data: rawMarkets, dataUpdatedAt } = useMarketsQuery();
-
-  // Get trusted vaults directly from store (no prop drilling!)
-  const { vaults: trustedVaults } = useTrustedVaults();
-
-  const { markets, isLoading: filteredMarketsLoading, isWhitelistUnavailable } = useFilteredMarkets();
-  const isEmpty = !rawMarkets;
-  const [expandedRowId, setExpandedRowId] = useState<string | null>(null);
-  const { label: supplyRateLabel } = useRateLabel({ prefix: 'Supply' });
-  const { label: borrowRateLabel } = useRateLabel({ prefix: 'Borrow' });
-
   const {
     columnVisibility,
     sortColumn,
@@ -55,6 +43,32 @@ function MarketsTable({ currentPage, setCurrentPage, className, tableClassName,
     starredMarkets,
   } = useMarketPreferences();
 
+  // Get loading states directly from query (no prop drilling!)
+  const {
+    isLoading: loading,
+    isRefetching,
+    data: rawMarkets,
+    dataUpdatedAt,
+  } = useMarketsQuery({
+    includeUnknownTokens,
+  });
+
+  // Get trusted vaults directly from store (no prop drilling!)
+  const { vaults: trustedVaults } = useTrustedVaults();
+
+  const {
+    markets,
+    isLoading: filteredMarketsLoading,
+    isWhitelistUnavailable,
+    rateEnrichmentPendingChainIds,
+  } = useFilteredMarkets({
+    currentPage,
+  });
+  const isEmpty = !rawMarkets;
+  const [expandedRowId, setExpandedRowId] = useState<string | null>(null);
+  const { label: supplyRateLabel } = useRateLabel({ prefix: 'Supply' });
+  const { label: borrowRateLabel } = useRateLabel({ prefix: 'Borrow' });
+
   const { starredOnly } = useMarketsFilters();
 
   // Handle column header clicks for sorting
@@ -339,6 +353,7 @@ function MarketsTable({ currentPage, setCurrentPage, className, tableClassName,
               expandedRowId={expandedRowId}
               setExpandedRowId={setExpandedRowId}
               trustedVaultMap={trustedVaultMap}
+              rateEnrichmentPendingChainIds={rateEnrichmentPendingChainIds}
             />
           </Table>
         )}

src/features/markets/markets-view.tsx

@@ -22,10 +22,23 @@ export default function Markets() {
   const toast = useStyledToast();
   const appliedUrlSignatureRef = useRef<string | null>(null);
   const [currentSearchParams, setCurrentSearchParams] = useState('');
+  const { tableViewMode, includeUnknownTokens } = useMarketPreferences();
 
   // Data fetching with React Query
-  const { data: rawMarkets, isLoading: loading, refetch } = useMarketsQuery();
-  const { markets, isLoading: filteredMarketsLoading, isWhitelistUnavailable } = useFilteredMarkets();
+  const {
+    data: rawMarkets,
+    isLoading: loading,
+    refetch,
+  } = useMarketsQuery({
+    includeUnknownTokens,
+  });
+  const {
+    markets,
+    isLoading: filteredMarketsLoading,
+    isWhitelistUnavailable,
+  } = useFilteredMarkets({
+    enableRateEnrichment: false,
+  });
 
   const filters = useMarketsFilters();
   const persistedFilters = useMarketFilterPreferences();
@@ -39,7 +52,6 @@ export default function Markets() {
   // Store hooks
   const { currentPage, setCurrentPage, resetPage } = usePagination();
   const { allTokens } = useTokensQuery();
-  const { tableViewMode, includeUnknownTokens } = useMarketPreferences();
 
   useLayoutEffect(() => {
     setCurrentSearchParams(window.location.search.startsWith('?') ? window.location.search.slice(1) : window.location.search);

src/features/positions/components/borrowed-morpho-blue-row-detail.tsx

@@ -6,6 +6,7 @@ import { PulseLoader } from 'react-spinners';
 import { RateFormatted } from '@/components/shared/rate-formatted';
 import { TooltipContent } from '@/components/shared/tooltip-content';
 import { Tooltip } from '@/components/ui/tooltip';
+import { useMarketRateEnrichmentQuery } from '@/hooks/queries/useMarketRateEnrichmentQuery';
 import { useProcessedMarkets } from '@/hooks/useProcessedMarkets';
 import {
   computeLiquidationOraclePrice,
@@ -19,6 +20,7 @@ import {
   isInfiniteLtv,
 } from '@/modals/borrow/components/helpers';
 import { getMarketIdentityKey } from '@/utils/market-identity';
+import { getMarketRateEnrichmentKey } from '@/utils/market-rate-enrichment';
 import type { BorrowPositionRow } from '@/utils/positions';
 
 type BorrowedMorphoBlueRowDetailProps = {
@@ -142,7 +144,9 @@ function renderHistoricalRateValue(value: number | null | undefined, isRateEnric
 }
 
 export function BorrowedMorphoBlueRowDetail({ row }: BorrowedMorphoBlueRowDetailProps) {
-  const { allMarkets, rateEnrichmentPendingChainIds } = useProcessedMarkets();
+  const { allMarkets } = useProcessedMarkets({
+    enableRateEnrichment: false,
+  });
   const marketIdentityKey = useMemo(
     () => getMarketIdentityKey(row.market.morphoBlue.chain.id, row.market.uniqueKey),
     [row.market.morphoBlue.chain.id, row.market.uniqueKey],
@@ -151,15 +155,28 @@ export function BorrowedMorphoBlueRowDetail({ row }: BorrowedMorphoBlueRowDetail
     () => allMarkets.find((market) => getMarketIdentityKey(market.morphoBlue.chain.id, market.uniqueKey) === marketIdentityKey),
     [allMarkets, marketIdentityKey],
   );
+  const rateMarket = liveMarket ?? row.market;
+  const { data: marketRateEnrichments, pendingChainIds: rateEnrichmentPendingChainIds } = useMarketRateEnrichmentQuery([rateMarket]);
+  const marketWithRates = useMemo(() => {
+    const enrichment = marketRateEnrichments.get(getMarketRateEnrichmentKey(rateMarket.uniqueKey, rateMarket.morphoBlue.chain.id));
+    if (!enrichment) {
+      return rateMarket;
+    }
+
+    return {
+      ...rateMarket,
+      state: {
+        ...rateMarket.state,
+        ...enrichment,
+      },
+    };
+  }, [marketRateEnrichments, rateMarket]);
   const resolvedRow = useMemo(
-    () =>
-      liveMarket
-        ? {
-            ...row,
-            market: liveMarket,
-          }
-        : row,
-    [liveMarket, row],
+    () => ({
+      ...row,
+      market: marketWithRates,
+    }),
+    [marketWithRates, row],
   );
   const isRateEnrichmentPending = rateEnrichmentPendingChainIds.has(resolvedRow.market.morphoBlue.chain.id);
 

src/hooks/queries/useMarketsQuery.ts

@@ -4,6 +4,7 @@ import { supportsMorphoApi } from '@/config/dataSources';
 import { fetchMonarchMarkets } from '@/data-sources/monarch-api';
 import { fetchMorphoMarkets } from '@/data-sources/morpho-api/market';
 import { fetchSubgraphMarkets } from '@/data-sources/subgraph/market';
+import { useTokensQuery } from '@/hooks/queries/useTokensQuery';
 import { getMarketIdentityKey } from '@/utils/market-identity';
 import { ALL_SUPPORTED_NETWORKS, isSupportedChain, type SupportedNetworks } from '@/utils/networks';
 import type { Market } from '@/utils/types';
@@ -16,6 +17,7 @@ const toError = (error: unknown): Error => {
 type UseMarketsQueryOptions = {
   refetchInterval?: number | false;
   refetchOnWindowFocus?: boolean;
+  includeUnknownTokens?: boolean;
 };
 
 /**
@@ -40,10 +42,12 @@ type UseMarketsQueryOptions = {
  */
 export const useMarketsQuery = (options?: UseMarketsQueryOptions) => {
   const { customRpcUrls } = useCustomRpcContext();
+  const { allTokens, isLoading: tokensLoading } = useTokensQuery();
   const rpcIdentity = Object.entries(customRpcUrls).sort(([left], [right]) => Number(left) - Number(right));
+  const includeUnknownTokens = options?.includeUnknownTokens ?? false;
 
   return useQuery({
-    queryKey: ['markets', rpcIdentity],
+    queryKey: ['markets', rpcIdentity, includeUnknownTokens, allTokens.length],
     queryFn: async () => {
       const fetchErrors: Error[] = [];
       const marketsByChain = new Map<SupportedNetworks, Market[]>();
@@ -76,7 +80,10 @@ export const useMarketsQuery = (options?: UseMarketsQueryOptions) => {
       };
 
       try {
-        const monarchMarkets = await fetchMonarchMarkets(undefined, customRpcUrls);
+        const monarchMarkets = await fetchMonarchMarkets(undefined, customRpcUrls, {
+          resolveUnknownTokens: includeUnknownTokens,
+          trustedTokens: allTokens,
+        });
         const monarchMarketsByChain = partitionMarketsByChain(monarchMarkets);
 
         for (const [network, markets] of monarchMarketsByChain.entries()) {
@@ -153,5 +160,6 @@ export const useMarketsQuery = (options?: UseMarketsQueryOptions) => {
     staleTime: 5 * 60 * 1000, // Data is fresh for 5 minutes
     refetchInterval: options?.refetchInterval ?? 5 * 60 * 1000, // Auto-refetch every 5 minutes in background by default
     refetchOnWindowFocus: options?.refetchOnWindowFocus ?? true, // Refetch when user returns to tab by default
+    enabled: !tokensLoading,
   });
 };