Add weighted bkava support for earn incentives (#1299)

* Add bkava handler for earn incentives

* Add bkava accum tests

* Add bkava denoms in index state

* Set storeTimeEquals to default value

* Add supply expected keepers

* Add tests for proportional adjustment

* Add liquid keeper to incentive keeper

* Use weighted reward periods for bkava

* Add liquid keeper to tests

* Add Accumulate override rewards period with deccoins

* Adjust test to handle sub unit coins

* Add liquid keeper to test

* Fix div by zero for proportional rewards

* Update test for actual expected values

* Update expected indexes to be same for different vaults

* Allow no stored time for vaults that have no indexes or state

* Add test for partial bkava deposit

* Add math check to test

* Deterministically iterate over bkava denoms

* Remove unused expected liquid method GetAllDerivativeDenoms

app/app.go

@@ -619,6 +619,8 @@ func NewApp(
 		app.stakingKeeper,
 		&swapKeeper,
 		&savingsKeeper,
+		// TODO: Liquid keeper
+		nil,
 		&earnKeeper,
 	)
 

x/incentive/keeper/claim_test.go

@@ -36,7 +36,7 @@ func (suite *ClaimTests) TestCannotClaimWhenMultiplierNotRecognised() {
 			},
 		},
 	}
-	suite.keeper = suite.NewKeeper(subspace, nil, nil, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(subspace, nil, nil, nil, nil, nil, nil, nil, nil, nil)
 
 	claim := types.DelegatorClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -70,7 +70,7 @@ func (suite *ClaimTests) TestCannotClaimAfterEndTime() {
 			ClaimEnd: endTime,
 		},
 	}
-	suite.keeper = suite.NewKeeper(subspace, nil, nil, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(subspace, nil, nil, nil, nil, nil, nil, nil, nil, nil)
 
 	suite.ctx = suite.ctx.WithBlockTime(endTime.Add(time.Nanosecond))
 

x/incentive/keeper/integration_test.go

@@ -18,7 +18,12 @@ import (
 func i(in int64) sdk.Int                    { return sdk.NewInt(in) }
 func d(str string) sdk.Dec                  { return sdk.MustNewDecFromStr(str) }
 func c(denom string, amount int64) sdk.Coin { return sdk.NewInt64Coin(denom, amount) }
+func dc(denom string, amount string) sdk.DecCoin {
+	return sdk.NewDecCoinFromDec(denom, sdk.MustNewDecFromStr(amount))
+}
 func cs(coins ...sdk.Coin) sdk.Coins        { return sdk.NewCoins(coins...) }
+func toDcs(coins ...sdk.Coin) sdk.DecCoins  { return sdk.NewDecCoinsFromCoins(coins...) }
+func dcs(coins ...sdk.DecCoin) sdk.DecCoins { return sdk.NewDecCoins(coins...) }
 
 func NewCDPGenStateMulti(cdc codec.JSONCodec) app.GenesisState {
 	cdpGenesis := cdptypes.GenesisState{

x/incentive/keeper/keeper.go

@@ -22,6 +22,7 @@ type Keeper struct {
 	stakingKeeper types.StakingKeeper
 	swapKeeper    types.SwapKeeper
 	savingsKeeper types.SavingsKeeper
+	liquidKeeper  types.LiquidKeeper
 	earnKeeper    types.EarnKeeper
 }
 
@@ -29,7 +30,7 @@ type Keeper struct {
 func NewKeeper(
 	cdc codec.Codec, key sdk.StoreKey, paramstore types.ParamSubspace, bk types.BankKeeper,
 	cdpk types.CdpKeeper, hk types.HardKeeper, ak types.AccountKeeper, stk types.StakingKeeper,
-	swpk types.SwapKeeper, svk types.SavingsKeeper, ek types.EarnKeeper,
+	swpk types.SwapKeeper, svk types.SavingsKeeper, lqk types.LiquidKeeper, ek types.EarnKeeper,
 ) Keeper {
 	if !paramstore.HasKeyTable() {
 		paramstore = paramstore.WithKeyTable(types.ParamKeyTable())
@@ -46,6 +47,7 @@ func NewKeeper(
 		stakingKeeper: stk,
 		swapKeeper:    swpk,
 		savingsKeeper: svk,
+		liquidKeeper:  lqk,
 		earnKeeper:    ek,
 	}
 }

x/incentive/keeper/rewards_borrow_accum_test.go

@@ -39,7 +39,7 @@ func (suite *AccumulateBorrowRewardsTests) TestStateUpdatedWhenBlockTimeHasIncre
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalBorrow(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	suite.storeGlobalBorrowIndexes(types.MultiRewardIndexes{
 		{
@@ -91,7 +91,7 @@ func (suite *AccumulateBorrowRewardsTests) TestStateUnchangedWhenBlockTimeHasNot
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalBorrow(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -136,7 +136,7 @@ func (suite *AccumulateBorrowRewardsTests) TestNoAccumulationWhenSourceSharesAre
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper() // zero total borrows
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -182,7 +182,7 @@ func (suite *AccumulateBorrowRewardsTests) TestStateAddedWhenStateDoesNotExist()
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalBorrow(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -225,7 +225,7 @@ func (suite *AccumulateBorrowRewardsTests) TestNoPanicWhenStateDoesNotExist() {
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper()
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -253,7 +253,7 @@ func (suite *AccumulateBorrowRewardsTests) TestNoAccumulationWhenBeforeStartTime
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalBorrow(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -299,7 +299,7 @@ func (suite *AccumulateBorrowRewardsTests) TestPanicWhenCurrentTimeLessThanPrevi
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalBorrow(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
 	suite.keeper.SetPreviousHardBorrowRewardAccrualTime(suite.ctx, denom, previousAccrualTime)

x/incentive/keeper/rewards_delegator_accum_test.go

@@ -36,7 +36,7 @@ func TestAccumulateDelegatorRewards(t *testing.T) {
 
 func (suite *AccumulateDelegatorRewardsTests) TestStateUpdatedWhenBlockTimeHasIncreased() {
 	stakingKeeper := newFakeStakingKeeper().addBondedTokens(1e6)
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	suite.storeGlobalDelegatorIndexes(types.MultiRewardIndexes{
 		{
@@ -86,7 +86,7 @@ func (suite *AccumulateDelegatorRewardsTests) TestStateUpdatedWhenBlockTimeHasIn
 
 func (suite *AccumulateDelegatorRewardsTests) TestStateUnchangedWhenBlockTimeHasNotIncreased() {
 	stakingKeeper := newFakeStakingKeeper().addBondedTokens(1e6)
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -129,7 +129,7 @@ func (suite *AccumulateDelegatorRewardsTests) TestStateUnchangedWhenBlockTimeHas
 
 func (suite *AccumulateDelegatorRewardsTests) TestNoAccumulationWhenSourceSharesAreZero() {
 	stakingKeeper := newFakeStakingKeeper() // zero total bonded
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -173,7 +173,7 @@ func (suite *AccumulateDelegatorRewardsTests) TestNoAccumulationWhenSourceShares
 
 func (suite *AccumulateDelegatorRewardsTests) TestStateAddedWhenStateDoesNotExist() {
 	stakingKeeper := newFakeStakingKeeper().addBondedTokens(1e6)
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -214,7 +214,7 @@ func (suite *AccumulateDelegatorRewardsTests) TestStateAddedWhenStateDoesNotExis
 
 func (suite *AccumulateDelegatorRewardsTests) TestNoPanicWhenStateDoesNotExist() {
 	stakingKeeper := newFakeStakingKeeper()
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -240,7 +240,7 @@ func (suite *AccumulateDelegatorRewardsTests) TestNoPanicWhenStateDoesNotExist()
 
 func (suite *AccumulateDelegatorRewardsTests) TestNoAccumulationWhenBeforeStartTime() {
 	stakingKeeper := newFakeStakingKeeper().addBondedTokens(1e6)
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -284,7 +284,7 @@ func (suite *AccumulateDelegatorRewardsTests) TestNoAccumulationWhenBeforeStartT
 
 func (suite *AccumulateDelegatorRewardsTests) TestPanicWhenCurrentTimeLessThanPrevious() {
 	stakingKeeper := newFakeStakingKeeper().addBondedTokens(1e6)
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
 	suite.keeper.SetPreviousDelegatorRewardAccrualTime(suite.ctx, types.BondDenom, previousAccrualTime)

x/incentive/keeper/rewards_delegator_init_test.go

@@ -58,7 +58,7 @@ func (suite *InitializeDelegatorRewardTests) TestClaimIsSyncedAndIndexesAreSetWh
 			DelegatorShares: d("1000"),
 		}},
 	}
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, sk, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, sk, nil, nil, nil, nil)
 
 	claim := types.DelegatorClaim{
 		BaseMultiClaim: types.BaseMultiClaim{

x/incentive/keeper/rewards_delegator_sync_test.go

@@ -37,7 +37,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestClaimIndexesAreUnchangedWhenGl
 	delegator := arbitraryAddress()
 
 	stakingKeeper := &fakeStakingKeeper{} // use an empty staking keeper that returns no delegations
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	claim := types.DelegatorClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -58,7 +58,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestClaimIndexesAreUnchangedWhenGl
 func (suite *SynchronizeDelegatorRewardTests) TestClaimIndexesAreUpdatedWhenGlobalFactorIncreased() {
 	delegator := arbitraryAddress()
 
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, &fakeStakingKeeper{}, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, &fakeStakingKeeper{}, nil, nil, nil, nil)
 
 	claim := types.DelegatorClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -97,7 +97,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestRewardIsUnchangedWhenGlobalFac
 			unslashedBondedValidator(validatorAddress),
 		},
 	}
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	claim := types.DelegatorClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -142,7 +142,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestRewardIsIncreasedWhenNewReward
 			unslashedBondedValidator(validatorAddress),
 		},
 	}
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	claim := types.DelegatorClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -192,7 +192,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestRewardIsIncreasedWhenGlobalFac
 			unslashedBondedValidator(validatorAddress),
 		},
 	}
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	claim := types.DelegatorClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -299,7 +299,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestGetDelegatedWhenValAddrIsNil()
 			unslashedNotBondedValidator(validatorAddresses[3]),
 		},
 	}
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	suite.Equal(
 		d("11"), // delegation to bonded validators
@@ -343,7 +343,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestGetDelegatedWhenExcludingAVali
 			unslashedNotBondedValidator(validatorAddresses[3]),
 		},
 	}
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	suite.Equal(
 		d("10"),
@@ -387,7 +387,7 @@ func (suite *SynchronizeDelegatorRewardTests) TestGetDelegatedWhenIncludingAVali
 			unslashedNotBondedValidator(validatorAddresses[3]),
 		},
 	}
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, stakingKeeper, nil, nil, nil, nil)
 
 	suite.Equal(
 		d("111"),

x/incentive/keeper/rewards_earn.go

@@ -2,6 +2,9 @@ package keeper
 
 import (
 	"fmt"
+	"sort"
+	"strings"
+	"time"
 
 	sdk "github.com/cosmos/cosmos-sdk/types"
 
@@ -12,26 +15,137 @@ import (
 // AccumulateEarnRewards calculates new rewards to distribute this block and updates the global indexes to reflect this.
 // The provided rewardPeriod must be valid to avoid panics in calculating time durations.
 func (k Keeper) AccumulateEarnRewards(ctx sdk.Context, rewardPeriod types.MultiRewardPeriod) {
-	previousAccrualTime, found := k.GetEarnRewardAccrualTime(ctx, rewardPeriod.CollateralType)
+	if rewardPeriod.CollateralType == "bkava" {
+		k.accumulateEarnBkavaRewards(ctx, rewardPeriod)
+		return
+	}
+
+	k.accumulateEarnRewards(
+		ctx,
+		rewardPeriod.CollateralType,
+		rewardPeriod.Start,
+		rewardPeriod.End,
+		sdk.NewDecCoinsFromCoins(rewardPeriod.RewardsPerSecond...),
+	)
+}
+
+func GetProportionalRewardsPerSecond(
+	rewardPeriod types.MultiRewardPeriod,
+	totalBkavaSupply sdk.Int,
+	singleBkavaSupply sdk.Int,
+) sdk.DecCoins {
+	// Rate per bkava-xxx = rewardsPerSecond * % of bkava-xxx
+	//                    = rewardsPerSecond * (bkava-xxx / total bkava)
+	//                    = (rewardsPerSecond * bkava-xxx) / total bkava
+
+	newRate := sdk.NewDecCoins()
+
+	// Prevent division by zero, if there are no total shares then there are no
+	// rewards.
+	if totalBkavaSupply.IsZero() {
+		return newRate
+	}
+
+	for _, rewardCoin := range rewardPeriod.RewardsPerSecond {
+		scaledAmount := rewardCoin.Amount.ToDec().
+			Mul(singleBkavaSupply.ToDec()).
+			Quo(totalBkavaSupply.ToDec())
+
+		newRate = newRate.Add(sdk.NewDecCoinFromDec(rewardCoin.Denom, scaledAmount))
+	}
+
+	return newRate
+}
+
+// accumulateEarnBkavaRewards does the same as AccumulateEarnRewards but for
+// *all* bkava vaults.
+func (k Keeper) accumulateEarnBkavaRewards(ctx sdk.Context, rewardPeriod types.MultiRewardPeriod) {
+	// TODO: Get staking rewards and distribute
+
+	// All bkava vault denoms
+	bkavaVaultsDenoms := make(map[string]bool)
+
+	// bkava vault denoms from earn records (non-empty vaults)
+	k.earnKeeper.IterateVaultRecords(ctx, func(record earntypes.VaultRecord) (stop bool) {
+		// TODO: Replace with single bkava denom check method from liquid
+		if strings.HasPrefix(record.TotalShares.Denom, "bkava-") {
+			bkavaVaultsDenoms[record.TotalShares.Denom] = true
+		}
+
+		return false
+	})
+
+	// bkava vault denoms from past incentive indexes, may include vaults
+	// that were fully withdrawn.
+	k.IterateEarnRewardIndexes(ctx, func(vaultDenom string, indexes types.RewardIndexes) (stop bool) {
+		if strings.HasPrefix(vaultDenom, "bkava-") {
+			bkavaVaultsDenoms[vaultDenom] = true
+		}
+
+		return false
+	})
+
+	totalBkavaSupply := k.liquidKeeper.GetTotalDerivativeSupply(ctx)
+
+	i := 0
+	sortedBkavaVaultsDenoms := make([]string, len(bkavaVaultsDenoms))
+	for vaultDenom := range bkavaVaultsDenoms {
+		sortedBkavaVaultsDenoms[i] = vaultDenom
+		i++
+	}
+
+	// Sort the vault denoms to ensure deterministic iteration order.
+	sort.Strings(sortedBkavaVaultsDenoms)
+
+	// Accumulate rewards for each bkava vault.
+	for _, bkavaDenom := range sortedBkavaVaultsDenoms {
+		k.accumulateEarnRewards(
+			ctx,
+			bkavaDenom,
+			rewardPeriod.Start,
+			rewardPeriod.End,
+			GetProportionalRewardsPerSecond(
+				rewardPeriod,
+				totalBkavaSupply,
+				k.liquidKeeper.GetDerivativeSupply(ctx, bkavaDenom),
+			),
+		)
+	}
+}
+
+func (k Keeper) accumulateEarnRewards(
+	ctx sdk.Context,
+	collateralType string,
+	periodStart time.Time,
+	periodEnd time.Time,
+	periodRewardsPerSecond sdk.DecCoins,
+) {
+	previousAccrualTime, found := k.GetEarnRewardAccrualTime(ctx, collateralType)
 	if !found {
 		previousAccrualTime = ctx.BlockTime()
 	}
 
-	indexes, found := k.GetEarnRewardIndexes(ctx, rewardPeriod.CollateralType)
+	indexes, found := k.GetEarnRewardIndexes(ctx, collateralType)
 	if !found {
 		indexes = types.RewardIndexes{}
 	}
 
 	acc := types.NewAccumulator(previousAccrualTime, indexes)
 
-	totalSource := k.getEarnTotalSourceShares(ctx, rewardPeriod.CollateralType)
+	totalSourceShares := k.getEarnTotalSourceShares(ctx, collateralType)
 
-	acc.Accumulate(rewardPeriod, totalSource, ctx.BlockTime())
+	acc.AccumulateDecCoins(
+		periodStart,
+		periodEnd,
+		periodRewardsPerSecond,
+		totalSourceShares,
+		ctx.BlockTime(),
+	)
 
-	k.SetEarnRewardAccrualTime(ctx, rewardPeriod.CollateralType, acc.PreviousAccumulationTime)
+	k.SetEarnRewardAccrualTime(ctx, collateralType, acc.PreviousAccumulationTime)
 	if len(acc.Indexes) > 0 {
 		// the store panics when setting empty or nil indexes
-		k.SetEarnRewardIndexes(ctx, rewardPeriod.CollateralType, acc.Indexes)
+		k.SetEarnRewardIndexes(ctx, collateralType, acc.Indexes)
 	}
 }
 

x/incentive/keeper/rewards_earn_accum_test.go

@@ -16,8 +16,12 @@ type AccumulateEarnRewardsTests struct {
 
 func (suite *AccumulateEarnRewardsTests) storedTimeEquals(vaultDenom string, expected time.Time) {
 	storedTime, found := suite.keeper.GetEarnRewardAccrualTime(suite.ctx, vaultDenom)
-	suite.True(found)
+	suite.Equal(found, expected != time.Time{}, "expected time is %v but time found = %v", expected, found)
+	if found {
 		suite.Equal(expected, storedTime)
+	} else {
+		suite.Empty(storedTime)
+	}
 }
 
 func (suite *AccumulateEarnRewardsTests) storedIndexesEqual(vaultDenom string, expected types.RewardIndexes) {
@@ -38,7 +42,7 @@ func (suite *AccumulateEarnRewardsTests) TestStateUpdatedWhenBlockTimeHasIncreas
 	vaultDenom := "usdx"
 
 	earnKeeper := newFakeEarnKeeper().addVault(vaultDenom, earntypes.NewVaultShare(vaultDenom, d("1000000")))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	suite.storeGlobalEarnIndexes(types.MultiRewardIndexes{
 		{
@@ -86,11 +90,222 @@ func (suite *AccumulateEarnRewardsTests) TestStateUpdatedWhenBlockTimeHasIncreas
 	})
 }
 
+func (suite *AccumulateEarnRewardsTests) TestStateUpdatedWhenBlockTimeHasIncreased_bkava() {
+	vaultDenom1 := "bkava-meow"
+	vaultDenom2 := "bkava-woof"
+
+	earnKeeper := newFakeEarnKeeper().
+		addVault(vaultDenom1, earntypes.NewVaultShare(vaultDenom1, d("800000"))).
+		addVault(vaultDenom2, earntypes.NewVaultShare(vaultDenom2, d("200000")))
+
+	liquidKeeper := newFakeLiquidKeeper().
+		addDerivative(vaultDenom1, i(800000)).
+		addDerivative(vaultDenom2, i(200000))
+
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, liquidKeeper, earnKeeper)
+
+	globalIndexes := types.MultiRewardIndexes{
+		{
+			CollateralType: vaultDenom1,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+		{
+			CollateralType: vaultDenom2,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+	}
+
+	suite.storeGlobalEarnIndexes(globalIndexes)
+	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom1, previousAccrualTime)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom2, previousAccrualTime)
+
+	newAccrualTime := previousAccrualTime.Add(1 * time.Hour)
+	suite.ctx = suite.ctx.WithBlockTime(newAccrualTime)
+
+	rewardPeriod := types.NewMultiRewardPeriod(
+		true,
+		"bkava",         // reward period is set for "bkava" to apply to all vaults
+		time.Unix(0, 0), // ensure the test is within start and end times
+		distantFuture,
+		cs(c("earn", 2000), c("ukava", 1000)), // same denoms as in global indexes
+	)
+	suite.keeper.AccumulateEarnRewards(suite.ctx, rewardPeriod)
+
+	// check time and factors
+
+	suite.storedTimeEquals(vaultDenom1, newAccrualTime)
+	suite.storedTimeEquals(vaultDenom2, newAccrualTime)
+
+	// Each vault gets the same ukava per second, assuming shares prices are the same.
+	// The share amount determines how much is actually distributed to the vault.
+	expectedIndexes := types.RewardIndexes{
+		{
+			CollateralType: "earn",
+			RewardFactor:   d("7.22"),
+		},
+		{
+			CollateralType: "ukava",
+			RewardFactor:   d("3.64"),
+		},
+	}
+
+	suite.storedIndexesEqual(vaultDenom1, expectedIndexes)
+	suite.storedIndexesEqual(vaultDenom2, expectedIndexes)
+}
+
+func (suite *AccumulateEarnRewardsTests) TestStateUpdatedWhenBlockTimeHasIncreased_bkava_partialDeposit() {
+	vaultDenom1 := "bkava-meow"
+	vaultDenom2 := "bkava-woof"
+
+	vaultDenom1Supply := i(800000)
+	vaultDenom2Supply := i(200000)
+
+	liquidKeeper := newFakeLiquidKeeper().
+		addDerivative(vaultDenom1, vaultDenom1Supply).
+		addDerivative(vaultDenom2, vaultDenom2Supply)
+
+	vault2Shares := d("100000")
+
+	// More bkava minted than deposited into earn
+	// Rewards are higher per-share as a result
+	earnKeeper := newFakeEarnKeeper().
+		addVault(vaultDenom1, earntypes.NewVaultShare(vaultDenom1, d("700000"))).
+		addVault(vaultDenom2, earntypes.NewVaultShare(vaultDenom2, vault2Shares))
+
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, liquidKeeper, earnKeeper)
+
+	globalIndexes := types.MultiRewardIndexes{
+		{
+			CollateralType: vaultDenom1,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+		{
+			CollateralType: vaultDenom2,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+	}
+
+	suite.storeGlobalEarnIndexes(globalIndexes)
+	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom1, previousAccrualTime)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom2, previousAccrualTime)
+
+	newAccrualTime := previousAccrualTime.Add(1 * time.Hour)
+	suite.ctx = suite.ctx.WithBlockTime(newAccrualTime)
+
+	rewardPeriod := types.NewMultiRewardPeriod(
+		true,
+		"bkava",         // reward period is set for "bkava" to apply to all vaults
+		time.Unix(0, 0), // ensure the test is within start and end times
+		distantFuture,
+		cs(c("earn", 2000), c("ukava", 1000)), // same denoms as in global indexes
+	)
+	suite.keeper.AccumulateEarnRewards(suite.ctx, rewardPeriod)
+
+	// check time and factors
+
+	suite.storedTimeEquals(vaultDenom1, newAccrualTime)
+	suite.storedTimeEquals(vaultDenom2, newAccrualTime)
+
+	// Slightly increased rewards due to less bkava deposited
+	suite.storedIndexesEqual(vaultDenom1, types.RewardIndexes{
+		{
+			CollateralType: "earn",
+			RewardFactor:   d("8.248571428571428571"),
+		},
+		{
+			CollateralType: "ukava",
+			RewardFactor:   d("4.154285714285714286"),
+		},
+	})
+
+	// Much higher rewards per share because only a small amount of bkava is
+	// deposited. The **total** amount of incentives distributed to this vault
+	// is still the same proportional amount.
+
+	// Fixed amount total rewards distributed to the vault
+	// Fewer shares deposited -> higher rewards per share
+
+	// 7.2ukava shares per second for 1 hour (started with 0.04)
+	// total rewards claimable = 7.2 * 100000 shares = 720000 ukava
+
+	// 720000ukava distributed which is 20% of total bkava ukava rewards
+	// total rewards for *all* bkava vaults for 1 hour
+	// = 1000ukava per second * 3600 == 3600000ukava
+	// vaultDenom2 has 20% of the total bkava amount so it should get 20% of 3600000ukava == 720000ukava
+
+	vault2expectedIndexes := types.RewardIndexes{
+		{
+			CollateralType: "earn",
+			RewardFactor:   d("14.42"),
+		},
+		{
+			CollateralType: "ukava",
+			RewardFactor:   d("7.24"),
+		},
+	}
+	suite.storedIndexesEqual(vaultDenom2, vault2expectedIndexes)
+
+	// Verify math described above
+	totalVault2DistributedUkava := i(int64(time.Hour.Seconds())).
+		ToDec().
+		Mul(rewardPeriod.RewardsPerSecond.AmountOf("ukava").ToDec()).
+		// 20% of total rewards
+		// vault 2 supply / (vault 1 supply + vault 2 supply)
+		Mul(
+			vaultDenom2Supply.ToDec().
+				Quo(vaultDenom1Supply.Add(vaultDenom2Supply).ToDec()),
+		)
+
+	totalVault2ClaimableRewards := vault2expectedIndexes[1].
+		RewardFactor.Sub(d("0.04")). // Rewards per share for 1 hr, excluding the starting value
+		Mul(vault2Shares)            // * Shares in vault to get total rewards for entire vault
+
+	suite.Equal(totalVault2DistributedUkava, totalVault2ClaimableRewards)
+}
+
 func (suite *AccumulateEarnRewardsTests) TestStateUnchangedWhenBlockTimeHasNotIncreased() {
 	vaultDenom := "usdx"
 
 	earnKeeper := newFakeEarnKeeper().addVault(vaultDenom, earntypes.NewVaultShare(vaultDenom, d("1000000")))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -131,11 +346,86 @@ func (suite *AccumulateEarnRewardsTests) TestStateUnchangedWhenBlockTimeHasNotIn
 	suite.storedIndexesEqual(vaultDenom, expected)
 }
 
+func (suite *AccumulateEarnRewardsTests) TestStateUnchangedWhenBlockTimeHasNotIncreased_bkava() {
+	vaultDenom1 := "bkava-meow"
+	vaultDenom2 := "bkava-woof"
+
+	earnKeeper := newFakeEarnKeeper().
+		addVault(vaultDenom1, earntypes.NewVaultShare(vaultDenom1, d("1000000"))).
+		addVault(vaultDenom2, earntypes.NewVaultShare(vaultDenom2, d("1000000")))
+
+	liquidKeeper := newFakeLiquidKeeper().
+		addDerivative(vaultDenom1, i(1000000)).
+		addDerivative(vaultDenom2, i(1000000))
+
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, liquidKeeper, earnKeeper)
+
+	previousIndexes := types.MultiRewardIndexes{
+		{
+			CollateralType: vaultDenom1,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+		{
+			CollateralType: vaultDenom2,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+	}
+	suite.storeGlobalEarnIndexes(previousIndexes)
+	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom1, previousAccrualTime)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom2, previousAccrualTime)
+
+	suite.ctx = suite.ctx.WithBlockTime(previousAccrualTime)
+
+	period := types.NewMultiRewardPeriod(
+		true,
+		"bkava",
+		time.Unix(0, 0), // ensure the test is within start and end times
+		distantFuture,
+		cs(c("earn", 2000), c("ukava", 1000)), // same denoms as in global indexes
+	)
+
+	suite.keeper.AccumulateEarnRewards(suite.ctx, period)
+
+	// check time and factors
+
+	suite.storedTimeEquals(vaultDenom1, previousAccrualTime)
+	suite.storedTimeEquals(vaultDenom2, previousAccrualTime)
+
+	expected, f := previousIndexes.Get(vaultDenom1)
+	suite.True(f)
+	suite.storedIndexesEqual(vaultDenom1, expected)
+
+	expected, f = previousIndexes.Get(vaultDenom2)
+	suite.True(f)
+	suite.storedIndexesEqual(vaultDenom2, expected)
+}
+
 func (suite *AccumulateEarnRewardsTests) TestNoAccumulationWhenSourceSharesAreZero() {
 	vaultDenom := "usdx"
 
 	earnKeeper := newFakeEarnKeeper() // no vault, so no source shares
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	liquidKeeper := newFakeLiquidKeeper()
+
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, liquidKeeper, earnKeeper)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -177,11 +467,82 @@ func (suite *AccumulateEarnRewardsTests) TestNoAccumulationWhenSourceSharesAreZe
 	suite.storedIndexesEqual(vaultDenom, expected)
 }
 
+func (suite *AccumulateEarnRewardsTests) TestNoAccumulationWhenSourceSharesAreZero_bkava() {
+	vaultDenom1 := "bkava-meow"
+	vaultDenom2 := "bkava-woof"
+
+	earnKeeper := newFakeEarnKeeper() // no vault, so no source shares
+	liquidKeeper := newFakeLiquidKeeper()
+
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, liquidKeeper, earnKeeper)
+
+	previousIndexes := types.MultiRewardIndexes{
+		{
+			CollateralType: vaultDenom1,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+		{
+			CollateralType: vaultDenom2,
+			RewardIndexes: types.RewardIndexes{
+				{
+					CollateralType: "earn",
+					RewardFactor:   d("0.02"),
+				},
+				{
+					CollateralType: "ukava",
+					RewardFactor:   d("0.04"),
+				},
+			},
+		},
+	}
+	suite.storeGlobalEarnIndexes(previousIndexes)
+	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom1, previousAccrualTime)
+	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom2, previousAccrualTime)
+
+	firstAccrualTime := previousAccrualTime.Add(7 * time.Second)
+	suite.ctx = suite.ctx.WithBlockTime(firstAccrualTime)
+
+	period := types.NewMultiRewardPeriod(
+		true,
+		"bkava",
+		time.Unix(0, 0), // ensure the test is within start and end times
+		distantFuture,
+		cs(c("earn", 2000), c("ukava", 1000)), // same denoms as in global indexes
+	)
+
+	// TODO: There are no bkava vaults to iterate over, so the accrual times are
+	// not updated
+	suite.keeper.AccumulateEarnRewards(suite.ctx, period)
+
+	// check time and factors
+
+	suite.storedTimeEquals(vaultDenom1, firstAccrualTime)
+	suite.storedTimeEquals(vaultDenom2, firstAccrualTime)
+
+	expected, f := previousIndexes.Get(vaultDenom1)
+	suite.True(f)
+	suite.storedIndexesEqual(vaultDenom1, expected)
+
+	expected, f = previousIndexes.Get(vaultDenom2)
+	suite.True(f)
+	suite.storedIndexesEqual(vaultDenom2, expected)
+}
+
 func (suite *AccumulateEarnRewardsTests) TestStateAddedWhenStateDoesNotExist() {
 	vaultDenom := "usdx"
 
 	earnKeeper := newFakeEarnKeeper().addVault(vaultDenom, earntypes.NewVaultShare(vaultDenom, d("1000000")))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -220,11 +581,70 @@ func (suite *AccumulateEarnRewardsTests) TestStateAddedWhenStateDoesNotExist() {
 	})
 }
 
+func (suite *AccumulateEarnRewardsTests) TestStateAddedWhenStateDoesNotExist_bkava() {
+	vaultDenom1 := "bkava-meow"
+	vaultDenom2 := "bkava-woof"
+
+	earnKeeper := newFakeEarnKeeper().
+		addVault(vaultDenom1, earntypes.NewVaultShare(vaultDenom1, d("1000000"))).
+		addVault(vaultDenom2, earntypes.NewVaultShare(vaultDenom2, d("1000000")))
+
+	liquidKeeper := newFakeLiquidKeeper().
+		addDerivative(vaultDenom1, i(1000000)).
+		addDerivative(vaultDenom2, i(1000000))
+
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, liquidKeeper, earnKeeper)
+
+	period := types.NewMultiRewardPeriod(
+		true,
+		"bkava",
+		time.Unix(0, 0), // ensure the test is within start and end times
+		distantFuture,
+		cs(c("earn", 2000), c("ukava", 1000)),
+	)
+
+	firstAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
+	suite.ctx = suite.ctx.WithBlockTime(firstAccrualTime)
+
+	suite.keeper.AccumulateEarnRewards(suite.ctx, period)
+
+	// After the first accumulation only the current block time should be stored.
+	// The indexes will be empty as no time has passed since the previous block because it didn't exist.
+	suite.storedTimeEquals(vaultDenom1, firstAccrualTime)
+	suite.storedTimeEquals(vaultDenom2, firstAccrualTime)
+
+	suite.storedIndexesEqual(vaultDenom1, nil)
+	suite.storedIndexesEqual(vaultDenom2, nil)
+
+	secondAccrualTime := firstAccrualTime.Add(10 * time.Second)
+	suite.ctx = suite.ctx.WithBlockTime(secondAccrualTime)
+
+	suite.keeper.AccumulateEarnRewards(suite.ctx, period)
+
+	// After the second accumulation both current block time and indexes should be stored.
+	suite.storedTimeEquals(vaultDenom1, secondAccrualTime)
+	suite.storedTimeEquals(vaultDenom2, secondAccrualTime)
+
+	expectedIndexes := types.RewardIndexes{
+		{
+			CollateralType: "earn",
+			RewardFactor:   d("0.01"),
+		},
+		{
+			CollateralType: "ukava",
+			RewardFactor:   d("0.005"),
+		},
+	}
+
+	suite.storedIndexesEqual(vaultDenom1, expectedIndexes)
+	suite.storedIndexesEqual(vaultDenom2, expectedIndexes)
+}
+
 func (suite *AccumulateEarnRewardsTests) TestNoPanicWhenStateDoesNotExist() {
 	vaultDenom := "usdx"
 
 	earnKeeper := newFakeEarnKeeper()
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -248,11 +668,47 @@ func (suite *AccumulateEarnRewardsTests) TestNoPanicWhenStateDoesNotExist() {
 	suite.storedIndexesEqual(vaultDenom, nil)
 }
 
+func (suite *AccumulateEarnRewardsTests) TestNoPanicWhenStateDoesNotExist_bkava() {
+	vaultDenom1 := "bkava-meow"
+	vaultDenom2 := "bkava-woof"
+
+	earnKeeper := newFakeEarnKeeper()
+	liquidKeeper := newFakeLiquidKeeper()
+
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, liquidKeeper, earnKeeper)
+
+	period := types.NewMultiRewardPeriod(
+		true,
+		"bkava",
+		time.Unix(0, 0), // ensure the test is within start and end times
+		distantFuture,
+		cs(),
+	)
+
+	accrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
+	suite.ctx = suite.ctx.WithBlockTime(accrualTime)
+
+	// Accumulate with no earn shares and no rewards per second will result in no increment to the indexes.
+	// No increment and no previous indexes stored, results in an updated of nil. Setting this in the state panics.
+	// Check there is no panic.
+	suite.NotPanics(func() {
+		// This does not update any state, as there are no bkava vaults
+		// to iterate over, denoms are unknown
+		suite.keeper.AccumulateEarnRewards(suite.ctx, period)
+	})
+
+	// Times are not stored for vaults with no state
+	suite.storedTimeEquals(vaultDenom1, time.Time{})
+	suite.storedTimeEquals(vaultDenom2, time.Time{})
+	suite.storedIndexesEqual(vaultDenom1, nil)
+	suite.storedIndexesEqual(vaultDenom2, nil)
+}
+
 func (suite *AccumulateEarnRewardsTests) TestNoAccumulationWhenBeforeStartTime() {
 	vaultDenom := "usdx"
 
 	earnKeeper := newFakeEarnKeeper().addVault(vaultDenom, earntypes.NewVaultShare(vaultDenom, d("1000000")))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -298,7 +754,7 @@ func (suite *AccumulateEarnRewardsTests) TestPanicWhenCurrentTimeLessThanPreviou
 	vaultDenom := "usdx"
 
 	earnKeeper := newFakeEarnKeeper().addVault(vaultDenom, earntypes.NewVaultShare(vaultDenom, d("1000000")))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
 	suite.keeper.SetEarnRewardAccrualTime(suite.ctx, vaultDenom, previousAccrualTime)

x/incentive/keeper/rewards_earn_proportional_test.go

@@ -0,0 +1,86 @@
+package keeper_test
+
+import (
+	"testing"
+	"time"
+
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	"github.com/kava-labs/kava/x/incentive/keeper"
+	"github.com/kava-labs/kava/x/incentive/types"
+	"github.com/stretchr/testify/require"
+)
+
+func TestGetProportionalRewardPeriod(t *testing.T) {
+	tests := []struct {
+		name                  string
+		giveRewardPeriod      types.MultiRewardPeriod
+		giveTotalBkavaSupply  sdk.Int
+		giveSingleBkavaSupply sdk.Int
+		wantRewardsPerSecond  sdk.DecCoins
+	}{
+		{
+			"full amount",
+			types.NewMultiRewardPeriod(
+				true,
+				"",
+				time.Time{},
+				time.Time{},
+				cs(c("ukava", 100), c("hard", 200)),
+			),
+			i(100),
+			i(100),
+			toDcs(c("ukava", 100), c("hard", 200)),
+		},
+		{
+			"3/4 amount",
+			types.NewMultiRewardPeriod(
+				true,
+				"",
+				time.Time{},
+				time.Time{},
+				cs(c("ukava", 100), c("hard", 200)),
+			),
+			i(10_000000),
+			i(7_500000),
+			toDcs(c("ukava", 75), c("hard", 150)),
+		},
+		{
+			"half amount",
+			types.NewMultiRewardPeriod(
+				true,
+				"",
+				time.Time{},
+				time.Time{},
+				cs(c("ukava", 100), c("hard", 200)),
+			),
+			i(100),
+			i(50),
+			toDcs(c("ukava", 50), c("hard", 100)),
+		},
+		{
+			"under 1 unit",
+			types.NewMultiRewardPeriod(
+				true,
+				"",
+				time.Time{},
+				time.Time{},
+				cs(c("ukava", 100), c("hard", 200)),
+			),
+			i(1000), // total bkava
+			i(1),    // bkava supply of this specific vault
+			dcs(dc("ukava", "0.1"), dc("hard", "0.2")), // rewards per second rounded to 0 if under 1ukava/1hard
+		},
+	}
+
+	for _, tt := range tests {
+		t.Run(tt.name, func(t *testing.T) {
+			rewardsPerSecond := keeper.GetProportionalRewardsPerSecond(
+				tt.giveRewardPeriod,
+				tt.giveTotalBkavaSupply,
+				tt.giveSingleBkavaSupply,
+			)
+
+			require.Equal(t, tt.wantRewardsPerSecond, rewardsPerSecond)
+		})
+	}
+}

x/incentive/keeper/rewards_earn_sync_test.go

@@ -324,7 +324,7 @@ func (suite *SynchronizeEarnRewardTests) TestGetSyncedClaim_ClaimUnchangedWhenNo
 
 	earnKeeper := newFakeEarnKeeper().
 		addDeposit(owner, earntypes.NewVaultShare("usdx", d("1000000000")))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	claim := types.EarnClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -357,7 +357,7 @@ func (suite *SynchronizeEarnRewardTests) TestGetSyncedClaim_ClaimUpdatedWhenMiss
 	owner := arbitraryAddress()
 
 	// owner has no shares in any vault
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, newFakeEarnKeeper())
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, newFakeEarnKeeper())
 
 	claim := types.EarnClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -419,7 +419,7 @@ func (suite *SynchronizeEarnRewardTests) TestGetSyncedClaim_ClaimUpdatedWhenMiss
 		addVault(VaultDenom_2, earntypes.NewVaultShare(VaultDenom_2, d("1000000000"))).
 		addDeposit(owner, earntypes.NewVaultShare(VaultDenom_1, d("1000000000"))).
 		addDeposit(owner, earntypes.NewVaultShare(VaultDenom_2, d("1000000000")))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, earnKeeper)
 
 	claim := types.EarnClaim{
 		BaseMultiClaim: types.BaseMultiClaim{

x/incentive/keeper/rewards_supply_accum_test.go

@@ -38,7 +38,7 @@ func (suite *AccumulateSupplyRewardsTests) TestStateUpdatedWhenBlockTimeHasIncre
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalSupply(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	suite.storeGlobalSupplyIndexes(types.MultiRewardIndexes{
 		{
@@ -90,7 +90,7 @@ func (suite *AccumulateSupplyRewardsTests) TestStateUnchangedWhenBlockTimeHasNot
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalSupply(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -135,7 +135,7 @@ func (suite *AccumulateSupplyRewardsTests) TestNoAccumulationWhenSourceSharesAre
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper() // zero total supplys
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -181,7 +181,7 @@ func (suite *AccumulateSupplyRewardsTests) TestStateAddedWhenStateDoesNotExist()
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalSupply(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -224,7 +224,7 @@ func (suite *AccumulateSupplyRewardsTests) TestNoPanicWhenStateDoesNotExist() {
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper()
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -252,7 +252,7 @@ func (suite *AccumulateSupplyRewardsTests) TestNoAccumulationWhenBeforeStartTime
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalSupply(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -298,7 +298,7 @@ func (suite *AccumulateSupplyRewardsTests) TestPanicWhenCurrentTimeLessThanPrevi
 	denom := "bnb"
 
 	hardKeeper := newFakeHardKeeper().addTotalSupply(c(denom, 1e6), d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, hardKeeper, nil, nil, nil, nil, nil, nil)
 
 	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
 	suite.keeper.SetPreviousHardSupplyRewardAccrualTime(suite.ctx, denom, previousAccrualTime)

x/incentive/keeper/rewards_swap_accum_test.go

@@ -37,7 +37,7 @@ func (suite *AccumulateSwapRewardsTests) TestStateUpdatedWhenBlockTimeHasIncreas
 	pool := "btc:usdx"
 
 	swapKeeper := newFakeSwapKeeper().addPool(pool, i(1e6))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	suite.storeGlobalSwapIndexes(types.MultiRewardIndexes{
 		{
@@ -89,7 +89,7 @@ func (suite *AccumulateSwapRewardsTests) TestStateUnchangedWhenBlockTimeHasNotIn
 	pool := "btc:usdx"
 
 	swapKeeper := newFakeSwapKeeper().addPool(pool, i(1e6))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -134,7 +134,7 @@ func (suite *AccumulateSwapRewardsTests) TestNoAccumulationWhenSourceSharesAreZe
 	pool := "btc:usdx"
 
 	swapKeeper := newFakeSwapKeeper() // no pools, so no source shares
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -180,7 +180,7 @@ func (suite *AccumulateSwapRewardsTests) TestStateAddedWhenStateDoesNotExist() {
 	pool := "btc:usdx"
 
 	swapKeeper := newFakeSwapKeeper().addPool(pool, i(1e6))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -223,7 +223,7 @@ func (suite *AccumulateSwapRewardsTests) TestNoPanicWhenStateDoesNotExist() {
 	pool := "btc:usdx"
 
 	swapKeeper := newFakeSwapKeeper()
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	period := types.NewMultiRewardPeriod(
 		true,
@@ -251,7 +251,7 @@ func (suite *AccumulateSwapRewardsTests) TestNoAccumulationWhenBeforeStartTime()
 	pool := "btc:usdx"
 
 	swapKeeper := newFakeSwapKeeper().addPool(pool, i(1e6))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	previousIndexes := types.MultiRewardIndexes{
 		{
@@ -297,7 +297,7 @@ func (suite *AccumulateSwapRewardsTests) TestPanicWhenCurrentTimeLessThanPreviou
 	pool := "btc:usdx"
 
 	swapKeeper := newFakeSwapKeeper().addPool(pool, i(1e6))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
 	suite.keeper.SetSwapRewardAccrualTime(suite.ctx, pool, previousAccrualTime)

x/incentive/keeper/rewards_swap_sync_test.go

@@ -323,7 +323,7 @@ func (suite *SynchronizeSwapRewardTests) TestGetSyncedClaim_ClaimUnchangedWhenNo
 
 	swapKeeper := newFakeSwapKeeper().
 		addDeposit(poolID_1, owner, i(1e9))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	claim := types.SwapClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -356,7 +356,7 @@ func (suite *SynchronizeSwapRewardTests) TestGetSyncedClaim_ClaimUpdatedWhenMiss
 	owner := arbitraryAddress()
 
 	// owner has no shares in any pool
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, newFakeSwapKeeper(), nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, newFakeSwapKeeper(), nil, nil, nil)
 
 	claim := types.SwapClaim{
 		BaseMultiClaim: types.BaseMultiClaim{
@@ -416,7 +416,7 @@ func (suite *SynchronizeSwapRewardTests) TestGetSyncedClaim_ClaimUpdatedWhenMiss
 	swapKeeper := newFakeSwapKeeper().
 		addDeposit(poolID_1, owner, i(1e9)).
 		addDeposit(poolID_2, owner, i(1e9))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, swapKeeper, nil, nil, nil)
 
 	claim := types.SwapClaim{
 		BaseMultiClaim: types.BaseMultiClaim{

x/incentive/keeper/rewards_usdx_accum_test.go

@@ -34,7 +34,7 @@ func (suite *AccumulateUSDXRewardsTests) TestStateUpdatedWhenBlockTimeHasIncreas
 	cType := "bnb-a"
 
 	cdpKeeper := newFakeCDPKeeper().addTotalPrincipal(i(1e6)).addInterestFactor(d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil, nil)
 
 	suite.storeGlobalUSDXIndexes(types.RewardIndexes{
 		{
@@ -68,7 +68,7 @@ func (suite *AccumulateUSDXRewardsTests) TestStateUnchangedWhenBlockTimeHasNotIn
 	cType := "bnb-a"
 
 	cdpKeeper := newFakeCDPKeeper().addTotalPrincipal(i(1e6)).addInterestFactor(d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.RewardIndexes{
 		{
@@ -104,7 +104,7 @@ func (suite *AccumulateUSDXRewardsTests) TestNoAccumulationWhenSourceSharesAreZe
 	cType := "bnb-a"
 
 	cdpKeeper := newFakeCDPKeeper() // zero total borrows
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.RewardIndexes{
 		{
@@ -141,7 +141,7 @@ func (suite *AccumulateUSDXRewardsTests) TestStateAddedWhenStateDoesNotExist() {
 	cType := "bnb-a"
 
 	cdpKeeper := newFakeCDPKeeper().addTotalPrincipal(i(1e6)).addInterestFactor(d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil, nil)
 
 	period := types.NewRewardPeriod(
 		true,
@@ -174,7 +174,7 @@ func (suite *AccumulateUSDXRewardsTests) TestNoAccumulationWhenBeforeStartTime()
 	cType := "bnb-a"
 
 	cdpKeeper := newFakeCDPKeeper().addTotalPrincipal(i(1e6)).addInterestFactor(d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil, nil)
 
 	previousIndexes := types.RewardIndexes{
 		{
@@ -211,7 +211,7 @@ func (suite *AccumulateUSDXRewardsTests) TestPanicWhenCurrentTimeLessThanPreviou
 	cType := "bnb-a"
 
 	cdpKeeper := newFakeCDPKeeper().addTotalPrincipal(i(1e6)).addInterestFactor(d("1"))
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, cdpKeeper, nil, nil, nil, nil, nil, nil, nil)
 
 	previousAccrualTime := time.Date(1998, 1, 1, 0, 0, 0, 0, time.UTC)
 	suite.keeper.SetPreviousUSDXMintingAccrualTime(suite.ctx, cType, previousAccrualTime)

x/incentive/keeper/unit_test.go

@@ -2,6 +2,7 @@ package keeper_test
 
 import (
 	"fmt"
+	"strings"
 	"time"
 
 	"github.com/cosmos/cosmos-sdk/codec"
@@ -59,7 +60,7 @@ func (suite *unitTester) SetupSuite() {
 
 func (suite *unitTester) SetupTest() {
 	suite.ctx = NewTestContext(suite.incentiveStoreKey)
-	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil)
+	suite.keeper = suite.NewKeeper(&fakeParamSubspace{}, nil, nil, nil, nil, nil, nil, nil, nil, nil)
 }
 
 func (suite *unitTester) TearDownTest() {
@@ -67,8 +68,13 @@ func (suite *unitTester) TearDownTest() {
 	suite.ctx = sdk.Context{}
 }
 
-func (suite *unitTester) NewKeeper(paramSubspace types.ParamSubspace, bk types.BankKeeper, cdpk types.CdpKeeper, hk types.HardKeeper, ak types.AccountKeeper, stk types.StakingKeeper, swk types.SwapKeeper, svk types.SavingsKeeper, ek types.EarnKeeper) keeper.Keeper {
+func (suite *unitTester) NewKeeper(
-	return keeper.NewKeeper(suite.cdc, suite.incentiveStoreKey, paramSubspace, bk, cdpk, hk, ak, stk, swk, svk, ek)
+	paramSubspace types.ParamSubspace,
+	bk types.BankKeeper, cdpk types.CdpKeeper, hk types.HardKeeper,
+	ak types.AccountKeeper, stk types.StakingKeeper, swk types.SwapKeeper,
+	svk types.SavingsKeeper, lqk types.LiquidKeeper, ek types.EarnKeeper,
+) keeper.Keeper {
+	return keeper.NewKeeper(suite.cdc, suite.incentiveStoreKey, paramSubspace, bk, cdpk, hk, ak, stk, swk, svk, lqk, ek)
 }
 
 func (suite *unitTester) storeGlobalBorrowIndexes(indexes types.MultiRewardIndexes) {
@@ -412,6 +418,66 @@ func (k *fakeEarnKeeper) GetVaultAccountShares(
 	return accShares, found
 }
 
+func (k *fakeEarnKeeper) IterateVaultRecords(
+	ctx sdk.Context,
+	cb func(record earntypes.VaultRecord) (stop bool),
+) {
+	for _, vaultShares := range k.vaultShares {
+		cb(earntypes.VaultRecord{
+			TotalShares: vaultShares,
+		})
+	}
+}
+
+// fakeLiquidKeeper is a stub liquid keeper.
+// It can be used to return values to the incentive keeper without having to initialize a full liquid keeper.
+type fakeLiquidKeeper struct {
+	derivatives map[string]sdk.Int
+}
+
+var _ types.LiquidKeeper = newFakeLiquidKeeper()
+
+func newFakeLiquidKeeper() *fakeLiquidKeeper {
+	return &fakeLiquidKeeper{
+		derivatives: map[string]sdk.Int{},
+	}
+}
+
+func (k *fakeLiquidKeeper) addDerivative(denom string, supply sdk.Int) *fakeLiquidKeeper {
+	k.derivatives[denom] = supply
+	return k
+}
+
+func (k *fakeLiquidKeeper) IsDerivativeDenom(ctx sdk.Context, denom string) bool {
+	return strings.HasPrefix(denom, "bkava-")
+}
+
+func (k *fakeLiquidKeeper) GetAllDerivativeDenoms(ctx sdk.Context) (denoms []string) {
+	for denom := range k.derivatives {
+		denoms = append(denoms, denom)
+	}
+
+	return denoms
+}
+
+func (k *fakeLiquidKeeper) GetTotalDerivativeSupply(ctx sdk.Context) sdk.Int {
+	totalSupply := sdk.ZeroInt()
+	for _, supply := range k.derivatives {
+		totalSupply = totalSupply.Add(supply)
+	}
+
+	return totalSupply
+}
+
+func (k *fakeLiquidKeeper) GetDerivativeSupply(ctx sdk.Context, denom string) sdk.Int {
+	supply, found := k.derivatives[denom]
+	if !found {
+		return sdk.ZeroInt()
+	}
+
+	return supply
+}
+
 // Assorted Testing Data
 
 // note: amino panics when encoding times ≥ the start of year 10000.

x/incentive/types/accumulator.go

@@ -31,12 +31,29 @@ func NewAccumulator(previousAccrual time.Time, indexes RewardIndexes) *Accumulat
 //
 // totalSourceShares is the sum of all users' source shares. For example:total btcb supplied to hard, total usdx borrowed from all bnb CDPs, or total shares in a swap pool.
 func (acc *Accumulator) Accumulate(period MultiRewardPeriod, totalSourceShares sdk.Dec, currentTime time.Time) {
-	accumulationDuration := acc.getTimeElapsedWithinLimits(acc.PreviousAccumulationTime, currentTime, period.Start, period.End)
+	acc.AccumulateDecCoins(
+		period.Start,
+		period.End,
+		sdk.NewDecCoinsFromCoins(period.RewardsPerSecond...),
+		totalSourceShares,
+		currentTime,
+	)
+}
 
-	indexesIncrement := acc.calculateNewRewards(period.RewardsPerSecond, totalSourceShares, accumulationDuration)
+// AccumulateDecCoins
+func (acc *Accumulator) AccumulateDecCoins(
+	periodStart time.Time,
+	periodEnd time.Time,
+	periodRewardsPerSecond sdk.DecCoins,
+	totalSourceShares sdk.Dec,
+	currentTime time.Time,
+) {
+	accumulationDuration := acc.getTimeElapsedWithinLimits(acc.PreviousAccumulationTime, currentTime, periodStart, periodEnd)
+
+	indexesIncrement := acc.calculateNewRewards(periodRewardsPerSecond, totalSourceShares, accumulationDuration)
 
 	acc.Indexes = acc.Indexes.Add(indexesIncrement)
-	acc.PreviousAccumulationTime = minTime(period.End, currentTime)
+	acc.PreviousAccumulationTime = minTime(periodEnd, currentTime)
 }
 
 // getTimeElapsedWithinLimits returns the duration between start and end times, capped by min and max times.
@@ -59,7 +76,7 @@ func (*Accumulator) getTimeElapsedWithinLimits(start, end, limitMin, limitMax ti
 // The total rewards to distribute in this block are given by reward rate * duration. This value divided by the sum of all source shares to give
 // total rewards per source share, which is what the indexes store.
 // Note, duration is rounded to the nearest second to keep rewards calculation consistent with kava-7.
-func (*Accumulator) calculateNewRewards(rewardsPerSecond sdk.Coins, totalSourceShares sdk.Dec, duration time.Duration) RewardIndexes {
+func (*Accumulator) calculateNewRewards(rewardsPerSecond sdk.DecCoins, totalSourceShares sdk.Dec, duration time.Duration) RewardIndexes {
 	if totalSourceShares.LTE(sdk.ZeroDec()) {
 		// When there is zero source shares, there is no users with deposits/borrows/delegations to pay out the current block's rewards to.
 		// So drop the rewards and pay out nothing.
@@ -93,10 +110,10 @@ func maxTime(t1, t2 time.Time) time.Time {
 }
 
 // newRewardIndexesFromCoins is a helper function to initialize a RewardIndexes slice with the values from a Coins slice.
-func newRewardIndexesFromCoins(coins sdk.Coins) RewardIndexes {
+func newRewardIndexesFromCoins(coins sdk.DecCoins) RewardIndexes {
 	var indexes RewardIndexes
 	for _, coin := range coins {
-		indexes = append(indexes, NewRewardIndex(coin.Denom, coin.Amount.ToDec()))
+		indexes = append(indexes, NewRewardIndex(coin.Denom, coin.Amount))
 	}
 	return indexes
 }

x/incentive/types/accumulator_test.go

@@ -187,7 +187,11 @@ func TestAccumulator(t *testing.T) {
 		for _, tc := range testcases {
 			t.Run(tc.name, func(t *testing.T) {
 				acc := &Accumulator{}
-				indexes := acc.calculateNewRewards(tc.args.rewardsPerSecond, tc.args.totalSourceShares, tc.args.duration)
+				indexes := acc.calculateNewRewards(
+					sdk.NewDecCoinsFromCoins(tc.args.rewardsPerSecond...),
+					tc.args.totalSourceShares,
+					tc.args.duration,
+				)
 
 				require.Equal(t, tc.expected, indexes)
 			})

x/incentive/types/expected_keepers.go

@@ -68,6 +68,14 @@ type SavingsKeeper interface {
 type EarnKeeper interface {
 	GetVaultTotalShares(ctx sdk.Context, denom string) (shares earntypes.VaultShare, found bool)
 	GetVaultAccountShares(ctx sdk.Context, acc sdk.AccAddress) (shares earntypes.VaultShares, found bool)
+	IterateVaultRecords(ctx sdk.Context, cb func(record earntypes.VaultRecord) (stop bool))
+}
+
+// LiquidKeeper defines the required methods needed by this modules keeper
+type LiquidKeeper interface {
+	IsDerivativeDenom(ctx sdk.Context, denom string) bool
+	GetTotalDerivativeSupply(ctx sdk.Context) sdk.Int
+	GetDerivativeSupply(ctx sdk.Context, denom string) sdk.Int
 }
 
 // AccountKeeper expected interface for the account keeper (noalias)