Index Market listings

Where this fits: Furnace loop in the CLAIM stream · Contract: MarketRouter, Events & Indexing

Goal:

index Market listings for analytics or a custom UI
compute listing-level metrics (minimum payout per ve, discount vs principal)

Strict mode invariant:

The Furnace is the only counterparty for listing settlement.
Listings are limit sells to the Furnace. There are no user-to-user lock transfers.

What you will use

MarketRouter address from deployments/<network>.json
abis/<network>/MarketRouter.abi.json
VeClaimNFT reads for principal/autoMax/lockEnd

Data flow

Steps

1) Decode the core Market events

Minimum set:

LockListed (limit sell to Furnace created)
LockDelisted (listing removed)
ListingSettled (listing settled into the Furnace)

If you support Buy intents (limit buys / bonus target escrow into the Furnace):

BonusTargetEscrowCreated
BonusTargetEscrowConfigured
BonusTargetEscrowExecuted (canonical generic execution receipt)
BonusTargetEscrowAutoFurnaceExecuted (back-compat companion receipt)
BonusTargetEscrowCancelled
BonusTargetEscrowExpired
BonusTargetEscrowExpiryExtended

Note:

Bonus target escrow execution routes into the Furnace, not into buying user locks.
executeAutoFurnace emits both execution receipts in the same tx; use the generic BonusTargetEscrowExecuted event for canonical accounting and keep the auto-furnace receipt for compatibility joins.
If you also expose subgraph bonusTargetEscrowEvents as offer history, treat kind = FILLED as the canonical fill row and do not double-count the same-tx AUTO_FURNACE_EXECUTED companion row.

Sellback note:

A seller can exit via Sell now (Market sell) to the Furnace.
In that case you will see:
- MarketRouter MarketSellToFurnace (always)
- LockDelisted(tokenId, seller, SOLD_TO_FURNACE) if the lock was previously listed
- Furnace LockSoldToFurnace (the lock is burned).
The strict-mode router never emits LockDelisted(tokenId, seller, APPROVAL_REVOKED). Reason code 5 is reserved for analytics compatibility only.

2) Maintain listing state

Your listing index can be:

“event sourced” (derive current state from the event stream)
or “state verified” (occasionally confirm with onchain views)

For most products:

event sourced is enough and cheaper

Also index listing expiry (expiresAtTime) from LockListed so UIs can hide/disable expired listings and indexers can auto-mark them inactive.

3) Compute the 3 most useful listing metrics

Given a tokenId:

principal: from VeClaimNFT.getLockInfo(tokenId).amount
veNow: compute from the ve math (below)

Compute veNow:

if autoMax == true: veNow = amount
else: veNow = floor(amount * (lockEnd - now) / MAX_LOCK_DURATION)

Then:

minimum payout per ve = minClaimOut / veNow
discount vs principal = (principal - minClaimOut) / principal
- 0 = par, positive = discount, negative = premium
time remaining = effectiveLockEnd - now
- if autoMax is ON, treat time remaining as MAX_LOCK_DURATION

Watch out: When MarketRouter.tradingPaused == true, new listings and settlements are blocked, but existing listings remain in state. Your indexer should mark them as “frozen” rather than removing them — they become settleable again once trading resumes.

4) Track settlements correctly

When a listing is settled by the Furnace:

ListingSettled is emitted
The lock is transferred to the Furnace and burned
The seller receives CLAIM

For indexers:

treat ListingSettled as the canonical “listing closed” moment for successful Furnace settlements
treat LockDelisted reasons NORMAL, EMERGENCY, SOLD_TO_FURNACE, and EXPIRED as the live production delist set; codes SOLD_INTO_OFFER and APPROVAL_REVOKED are reserved and not emitted by the strict-mode router

What success looks like

You can render a listings page from your DB.
“Listed/frozen” state matches the official app.
All settlements show as Furnace settlements (no user-to-user lock transfers).