diff --git a/.changeset/brave-lions-swim.md b/.changeset/brave-lions-swim.md
new file mode 100644
index 000000000..527423f26
--- /dev/null
+++ b/.changeset/brave-lions-swim.md
@@ -0,0 +1,5 @@
+---
+"@exactly/protocol": patch
+---
+
+✨ adapter: use morpho flash loans
diff --git a/.gas-snapshot b/.gas-snapshot
index 7ac576218..d437d48fe 100644
--- a/.gas-snapshot
+++ b/.gas-snapshot
@@ -66,7 +66,7 @@ DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidityWithSlippage(
 DebtManagerTest:testFloatingToFixedRollHigherThanAvailableLiquidityWithSlippageWithThreePools() (gas: 2819298)
 DebtManagerTest:testFloatingToFixedRollWithAccurateSlippage() (gas: 1733293)
 DebtManagerTest:testFloatingToFixedRollWithAccurateSlippageWithPreviousPosition() (gas: 1955460)
-DebtManagerTest:testFuzzRolls(uint8[4],uint8[4],uint256[4],uint40[4],uint8[4]) (runs: 256, μ: 8004418, ~: 8031281)
+DebtManagerTest:testFuzzRolls(uint8[4],uint8[4],uint256[4],uint40[4],uint8[4]) (runs: 256, μ: 8018122, ~: 8071108)
 DebtManagerTest:testLateFixedRoll() (gas: 1455061)
 DebtManagerTest:testLateFixedRollWithThreeLoops() (gas: 2044387)
 DebtManagerTest:testLateFixedToFloatingRoll() (gas: 1449884)
@@ -191,13 +191,17 @@ FirewallTest:test_allow_reverts_whenNotOriginalAllower() (gas: 171661)
 FirewallTest:test_disallow_disallows_whenAllowedAndOriginalAllower() (gas: 116906)
 FirewallTest:test_disallow_disallows_whenAllowedAndOriginalAllowerRoleIsRevoked() (gas: 217133)
 FirewallTest:test_disallow_reverts_whenAllowedAndNotOriginalAllower() (gas: 171638)
-FlashLoanAdapterTest:test_consumeAdapter() (gas: 2334825)
-FlashLoanAdapterTest:test_consumeAdapter_withWToken() (gas: 8860215)
-FlashLoanAdapterTest:test_flashLoan_reverts_whenAmountsLengthNotOne() (gas: 32678)
-FlashLoanAdapterTest:test_flashLoan_reverts_whenTokensLengthNotOne() (gas: 32591)
-FlashLoanAdapterTest:test_setWToken_emitsWTokenSet() (gas: 80696)
-FlashLoanAdapterTest:test_setWToken_reverts_whenNotAdmin() (gas: 66649)
-FlashLoanAdapterTest:test_setWToken_sets_whenAdmin() (gas: 82048)
+FlashLoanAdapterTest:test_flashLoan_forwardsArguments() (gas: 134172)
+FlashLoanAdapterTest:test_flashLoan_lends_fullBalance_usdc() (gas: 227598)
+FlashLoanAdapterTest:test_flashLoan_lends_fullBalance_weth() (gas: 179129)
+FlashLoanAdapterTest:test_flashLoan_lends_usdc(uint256) (runs: 256, μ: 245117, ~: 245358)
+FlashLoanAdapterTest:test_flashLoan_lends_whenCallerIsNotRecipient() (gas: 227866)
+FlashLoanAdapterTest:test_flashLoan_reverts_whenAmountsLengthNotOne() (gas: 34362)
+FlashLoanAdapterTest:test_flashLoan_reverts_whenOverAvailable() (gas: 83334)
+FlashLoanAdapterTest:test_flashLoan_reverts_whenTokensLengthNotOne() (gas: 34856)
+FlashLoanAdapterTest:test_flashLoan_reverts_whenZeroAmount() (gas: 43251)
+FlashLoanAdapterTest:test_onMorphoFlashLoan_reverts_whenNotMorpho() (gas: 327823)
+FlashLoanAdapterTest:test_rollFixed_rolls_withDebtRoller() (gas: 7425779)
 InstallmentsRouterTest:testAmountsLength() (gas: 36806)
 InstallmentsRouterTest:testBorrowETHToAnotherReceiver() (gas: 801979)
 InstallmentsRouterTest:testBorrowETHWithPermit() (gas: 1239367)
@@ -220,19 +224,19 @@ IntegrationPreviewerTest:test_fixedRepayPosition_beforeMaturity() (gas: 580013)
 IntegrationPreviewerTest:test_fixedRepayPosition_maxUint() (gas: 79490)
 IntegrationPreviewerTest:test_fixedRepayPosition_saturatedFallback() (gas: 63069)
 IntegrationPreviewerTest:test_healthFactor() (gas: 464287)
-IntegrationPreviewerTest:test_previewDeposit_(uint256) (runs: 256, μ: 1595663, ~: 1599768)
+IntegrationPreviewerTest:test_previewDeposit_(uint256) (runs: 256, μ: 1595791, ~: 1599768)
 IntegrationPreviewerTest:test_previewHealthFactor() (gas: 5827588)
 IntegrationPreviewerTest:test_previewHealthFactor_nonCollateralMarket() (gas: 3511184)
-IntegrationPreviewerTest:test_previewWithdraw_(uint256) (runs: 256, μ: 1655792, ~: 1660104)
+IntegrationPreviewerTest:test_previewWithdraw_(uint256) (runs: 256, μ: 1655940, ~: 1660104)
 InterestRateModelTest:testFixedBorrowRate() (gas: 2088868)
 InterestRateModelTest:testFixedRateRevertAlreadyMatured() (gas: 2083135)
 InterestRateModelTest:testFixedRateRevertUtilizationExceeded() (gas: 2097203)
 InterestRateModelTest:testFloatingBorrowRate() (gas: 2082456)
-InterestRateModelTest:testFuzzFixedRateGrowth(uint256,uint256,uint256,uint256) (runs: 256, μ: 2109336, ~: 2112192)
-InterestRateModelTest:testFuzzFixedRateTimeSensitivity(uint256,uint256,uint256) (runs: 256, μ: 2117022, ~: 2117161)
-InterestRateModelTest:testFuzzReferenceLegacyRateFixed(uint32,uint256,uint256[2],uint256[2],uint256,uint256,uint256) (runs: 256, μ: 12931216, ~: 13130880)
-InterestRateModelTest:testFuzzReferenceRateFixed(uint256,uint256,uint256,uint256,uint256,uint256,(uint256,uint256,uint256,uint256,uint256,uint256,uint256,uint256,int256,uint256,uint256)) (runs: 256, μ: 2384630, ~: 2386873)
-InterestRateModelTest:testFuzzReferenceRateFloating(uint256,uint256,(uint256,uint256,uint256,uint256,uint256,uint256,uint256)) (runs: 256, μ: 2324355, ~: 2324942)
+InterestRateModelTest:testFuzzFixedRateGrowth(uint256,uint256,uint256,uint256) (runs: 256, μ: 2109239, ~: 2108779)
+InterestRateModelTest:testFuzzFixedRateTimeSensitivity(uint256,uint256,uint256) (runs: 256, μ: 2117001, ~: 2117161)
+InterestRateModelTest:testFuzzReferenceLegacyRateFixed(uint32,uint256,uint256[2],uint256[2],uint256,uint256,uint256) (runs: 256, μ: 12930349, ~: 13130838)
+InterestRateModelTest:testFuzzReferenceRateFixed(uint256,uint256,uint256,uint256,uint256,uint256,(uint256,uint256,uint256,uint256,uint256,uint256,uint256,uint256,int256,uint256,uint256)) (runs: 256, μ: 2384716, ~: 2386888)
+InterestRateModelTest:testFuzzReferenceRateFloating(uint256,uint256,(uint256,uint256,uint256,uint256,uint256,uint256,uint256)) (runs: 256, μ: 2324270, ~: 2324928)
 InterestRateModelTest:testMinTimeToMaturity() (gas: 2107232)
 InterestRateModelTest:testRevertMaxUtilizationLowerThanWad() (gas: 268402)
 MarketTest:testAccountLiquidityAdjustedDebt() (gas: 654879)
@@ -396,7 +400,7 @@ PoolLibTest:testAtomicDepositBorrowRepayWithdraw() (gas: 45922)
 PoolLibTest:testBackupBorrow() (gas: 33624)
 PoolLibTest:testEarningsAccrual() (gas: 38952)
 PoolLibTest:testEarningsDistribution() (gas: 32679)
-PoolLibTest:testFuzzAddRemoveAll(uint8[12]) (runs: 256, μ: 104690, ~: 106307)
+PoolLibTest:testFuzzAddRemoveAll(uint8[12]) (runs: 256, μ: 105413, ~: 106611)
 PoolLibTest:testMaturityRangeLimit() (gas: 7866)
 PoolLibTest:testMaturityRangeTooWide() (gas: 11656)
 PreviewerTest:testAccountsReturningAccurateAmounts() (gas: 1687100)
@@ -478,18 +482,29 @@ PriceFeedDoubleTest:testPriceFeedDoubleReturningPrice() (gas: 76193)
 PriceFeedDoubleTest:testPriceFeedDoubleWithActualOnChainValues() (gas: 85326)
 PriceFeedDoubleTest:testPriceFeedDoubleWithNegativePriceShouldRevert() (gas: 212681)
 PriceFeedDoubleTest:testPriceFeedDoubleWithUsdPriceFeed() (gas: 498675)
-PriceFeedInverseTest:testFuzz_latestAnswer_matchesGreaterScale(int256) (runs: 256, μ: 55881, ~: 56215)
-PriceFeedInverseTest:testFuzz_latestAnswer_returnsOne_whenAnswerIsAboveBaseUnitSquared(int256) (runs: 256, μ: 2531209, ~: 2531318)
-PriceFeedInverseTest:testFuzz_latestAnswer_reverts_whenAnswerIsNegative(int256) (runs: 256, μ: 54861, ~: 54945)
-PriceFeedInverseTest:testFuzz_latestAnswer_roundsUp(int256) (runs: 256, μ: 55095, ~: 55431)
-PriceFeedInverseTest:test_assetPrice_returnsPrice_whenAnswerIsAboveBaseUnitSquared() (gas: 2509699)
-PriceFeedInverseTest:test_constructor_setsPriceFeedDecimalsAndBaseUnit() (gas: 26853)
-PriceFeedInverseTest:test_latestAnswer_matchesGreaterScale_withHighPrices() (gas: 229965)
-PriceFeedInverseTest:test_latestAnswer_returnsExactInverse_whenDivisionIsExact() (gas: 91181)
-PriceFeedInverseTest:test_latestAnswer_returnsInverse() (gas: 57926)
-PriceFeedInverseTest:test_latestAnswer_returnsOne_whenAnswerIsAboveBaseUnitSquared() (gas: 91218)
-PriceFeedInverseTest:test_latestAnswer_reverts_whenAnswerIsNegative() (gas: 94442)
-PriceFeedInverseTest:test_latestAnswer_reverts_whenAnswerIsZero() (gas: 37201)
+PriceFeedInverseTest:testFuzz_latestAnswer_matchesGreaterScale(int256) (runs: 256, μ: 123115, ~: 123460)
+PriceFeedInverseTest:testFuzz_latestAnswer_returnsOne_whenAnswerIsAboveBaseUnitSquared(int256) (runs: 256, μ: 2600680, ~: 2600787)
+PriceFeedInverseTest:testFuzz_latestAnswer_reverts_whenAnswerIsNegative(int256) (runs: 256, μ: 122136, ~: 122222)
+PriceFeedInverseTest:testFuzz_latestAnswer_roundsUp(int256) (runs: 256, μ: 122329, ~: 122676)
+PriceFeedInverseTest:testFuzz_latestRoundData_matchesLatestAnswer(int256) (runs: 256, μ: 161334, ~: 161679)
+PriceFeedInverseTest:test_assetPrice_returnsPrice_whenAnswerIsAboveBaseUnitSquared() (gas: 2576966)
+PriceFeedInverseTest:test_constructor_reverts_whenBaseUnitSquaredOverflows() (gas: 535510)
+PriceFeedInverseTest:test_constructor_setsPriceFeedDecimalsAndBaseUnitSquared() (gas: 26921)
+PriceFeedInverseTest:test_getRoundData_returnsInverse_whenRoundIsHistorical() (gas: 125280)
+PriceFeedInverseTest:test_getRoundData_returnsInverse_withRoundDataUnchanged() (gas: 122279)
+PriceFeedInverseTest:test_getRoundData_returnsZero_whenAnswerIsZero() (gas: 100184)
+PriceFeedInverseTest:test_getRoundData_returnsZero_whenRoundHasNoData() (gas: 28035)
+PriceFeedInverseTest:test_getRoundData_reverts_whenAnswerIsNegative() (gas: 120344)
+PriceFeedInverseTest:test_latestAnswer_matchesGreaterScale_withHighPrices() (gas: 569057)
+PriceFeedInverseTest:test_latestAnswer_returnsExactInverse_whenDivisionIsExact() (gas: 225671)
+PriceFeedInverseTest:test_latestAnswer_returnsInverse() (gas: 127418)
+PriceFeedInverseTest:test_latestAnswer_returnsOne_whenAnswerIsAboveBaseUnitSquared() (gas: 225730)
+PriceFeedInverseTest:test_latestAnswer_reverts_whenAnswerIsNegative() (gas: 228996)
+PriceFeedInverseTest:test_latestAnswer_reverts_whenAnswerIsZero() (gas: 94141)
+PriceFeedInverseTest:test_latestRoundData_returnsInverse_withRoundDataUnchanged() (gas: 136077)
+PriceFeedInverseTest:test_latestRoundData_reverts_whenAnswerIsNegative() (gas: 119426)
+PriceFeedInverseTest:test_latestRoundData_reverts_whenAnswerIsZero() (gas: 99097)
+PriceFeedInverseTest:test_phaseId_returnsSourcePhaseId() (gas: 845935)
 PriceFeedPoolTest:testPriceFeedPoolReturningPrice() (gas: 40917)
 PriceFeedPoolTest:testPriceFeedPoolReturningPriceWithToken0False() (gas: 2181230)
 PriceFeedPoolTest:testPriceFeedPoolWithAllDifferentDecimals() (gas: 2159319)
@@ -589,8 +604,8 @@ StakedEXATest:invariantNoDuplicatedReward() (runs: 10, calls: 5000, reverts: 0)
 StakedEXATest:invariantRewardsUpOnly() (runs: 10, calls: 5000, reverts: 0)
 StakedEXATest:invariantShareValueIsOne() (runs: 10, calls: 5000, reverts: 0)
 StakedEXATest:testAlreadyListedError() (gas: 43677)
-StakedEXATest:testAvgIndex(uint256[3],uint256[2]) (runs: 256, μ: 1319458, ~: 1370678)
-StakedEXATest:testAvgStartTime(uint256[3],uint256[2]) (runs: 256, μ: 1247524, ~: 1298744)
+StakedEXATest:testAvgIndex(uint256[3],uint256[2]) (runs: 256, μ: 1322129, ~: 1370819)
+StakedEXATest:testAvgStartTime(uint256[3],uint256[2]) (runs: 256, μ: 1250195, ~: 1298885)
 StakedEXATest:testBalanceOfDeposit(uint80) (runs: 256, μ: 331003, ~: 339807)
 StakedEXATest:testBalanceOfWithdraw(uint256) (runs: 256, μ: 82393, ~: 82407)
 StakedEXATest:testCanChangeRewardsDurationWhenDisabled() (gas: 176331)
@@ -599,12 +614,12 @@ StakedEXATest:testClaimAndUnstake() (gas: 1622618)
 StakedEXATest:testClaimAndWithdrawAfterRefTime() (gas: 1029325)
 StakedEXATest:testClaimBeforeFirstHarvest() (gas: 527334)
 StakedEXATest:testDepositClaimsRewardsToReceiver() (gas: 1121108)
-StakedEXATest:testDepositEvent(uint256) (runs: 256, μ: 335228, ~: 334966)
-StakedEXATest:testDepositShouldClaim(uint256[2],uint32) (runs: 256, μ: 826654, ~: 754952)
+StakedEXATest:testDepositEvent(uint256) (runs: 256, μ: 335232, ~: 334990)
+StakedEXATest:testDepositShouldClaim(uint256[2],uint32) (runs: 256, μ: 829682, ~: 754964)
 StakedEXATest:testDepositToAnotherWithAllowance() (gas: 375284)
 StakedEXATest:testDepositToAnotherWithoutAllowanceShouldFail() (gas: 121959)
-StakedEXATest:testDepositWithdrawAvgStartTimeAndIndex(uint256[3],uint256,uint256[5]) (runs: 256, μ: 1875287, ~: 1904448)
-StakedEXATest:testEarnedWithTime(uint256) (runs: 256, μ: 86108, ~: 86326)
+StakedEXATest:testDepositWithdrawAvgStartTimeAndIndex(uint256[3],uint256,uint256[5]) (runs: 256, μ: 1885504, ~: 1906202)
+StakedEXATest:testEarnedWithTime(uint256) (runs: 256, μ: 86121, ~: 86326)
 StakedEXATest:testEmergencyAdminCanPauseNotUnpause() (gas: 175029)
 StakedEXATest:testFinishDistributionEmitEvent() (gas: 240752)
 StakedEXATest:testFinishDistributionLetsClaimUnclaimed() (gas: 1784877)
@@ -615,9 +630,9 @@ StakedEXATest:testGrantRevokeEmergencyAdmin() (gas: 117824)
 StakedEXATest:testGrantRevokePauser() (gas: 117836)
 StakedEXATest:testHandlerClaim(uint8) (runs: 256, μ: 485340, ~: 485340)
 StakedEXATest:testHandlerDeposit(uint80) (runs: 256, μ: 1240331, ~: 1276242)
-StakedEXATest:testHandlerHarvest(uint64) (runs: 256, μ: 402351, ~: 411143)
-StakedEXATest:testHandlerNotifyRewardAmount(uint64) (runs: 256, μ: 165113, ~: 156797)
-StakedEXATest:testHandlerSetDuration(uint32) (runs: 256, μ: 198473, ~: 218711)
+StakedEXATest:testHandlerHarvest(uint64) (runs: 256, μ: 402353, ~: 411143)
+StakedEXATest:testHandlerNotifyRewardAmount(uint64) (runs: 256, μ: 165442, ~: 156797)
+StakedEXATest:testHandlerSetDuration(uint32) (runs: 256, μ: 198922, ~: 218711)
 StakedEXATest:testHandlerSetMarket() (gas: 144553)
 StakedEXATest:testHandlerWithdraw(uint256) (runs: 256, μ: 91497, ~: 91511)
 StakedEXATest:testHarvestAmountWithReducedAllowance() (gas: 184605)
@@ -628,13 +643,13 @@ StakedEXATest:testHarvestWhenFinished() (gas: 326352)
 StakedEXATest:testHarvestX() (gas: 180952)
 StakedEXATest:testHarvestZero() (gas: 255436)
 StakedEXATest:testInitialValues() (gas: 196484)
-StakedEXATest:testInsufficientBalanceError(uint256) (runs: 256, μ: 63958, ~: 64151)
+StakedEXATest:testInsufficientBalanceError(uint256) (runs: 256, μ: 63941, ~: 64151)
 StakedEXATest:testMaxRewardsGasConsumption() (gas: 144674963)
 StakedEXATest:testMultipleClaimsVsOne() (gas: 21936440)
 StakedEXATest:testMultipleHarvests() (gas: 284083)
-StakedEXATest:testNoRewardsAfterPeriod(uint256) (runs: 256, μ: 1809893, ~: 1804427)
+StakedEXATest:testNoRewardsAfterPeriod(uint256) (runs: 256, μ: 1809452, ~: 1804427)
 StakedEXATest:testNotPausingRoleError() (gas: 39124)
-StakedEXATest:testNotifyRewardAmount(uint256,uint256) (runs: 256, μ: 155601, ~: 155564)
+StakedEXATest:testNotifyRewardAmount(uint256,uint256) (runs: 256, μ: 155622, ~: 155564)
 StakedEXATest:testNotifyRewardWithUnderlyingAsset() (gas: 460608)
 StakedEXATest:testOnlyAdminEnableReward() (gas: 1297302)
 StakedEXATest:testOnlyAdminFinishDistribution() (gas: 213640)
@@ -652,13 +667,13 @@ StakedEXATest:testPenaltyThresholdRange() (gas: 36989)
 StakedEXATest:testPermitAndDeposit() (gas: 452146)
 StakedEXATest:testPermitFailKeepsFlow() (gas: 484480)
 StakedEXATest:testRemoveDepositAllowance() (gas: 466913)
-StakedEXATest:testResetDepositAfterRefTime(uint256) (runs: 256, μ: 1033239, ~: 1032994)
-StakedEXATest:testRewardAmountNotifiedEvent(uint256) (runs: 256, μ: 105547, ~: 105293)
+StakedEXATest:testResetDepositAfterRefTime(uint256) (runs: 256, μ: 1033244, ~: 1032994)
+StakedEXATest:testRewardAmountNotifiedEvent(uint256) (runs: 256, μ: 105545, ~: 105293)
 StakedEXATest:testRewardNotListedError() (gas: 1177184)
-StakedEXATest:testRewardPaidEvent(uint256,uint256) (runs: 256, μ: 809092, ~: 854321)
-StakedEXATest:testRewardsAmounts(uint256) (runs: 256, μ: 1707506, ~: 1707287)
+StakedEXATest:testRewardPaidEvent(uint256,uint256) (runs: 256, μ: 809633, ~: 854321)
+StakedEXATest:testRewardsAmounts(uint256) (runs: 256, μ: 1707514, ~: 1707287)
 StakedEXATest:testRewardsDurationSetEvent(uint40) (runs: 256, μ: 52173, ~: 52149)
-StakedEXATest:testSetDuration(uint256,uint40) (runs: 256, μ: 65997, ~: 64453)
+StakedEXATest:testSetDuration(uint256,uint40) (runs: 256, μ: 66062, ~: 64453)
 StakedEXATest:testSetMarketAddressZero() (gas: 36979)
 StakedEXATest:testSetMarketOnlyAdmin() (gas: 1345554)
 StakedEXATest:testSetMaxRewardsTokensExceeded() (gas: 111958823)
@@ -670,12 +685,12 @@ StakedEXATest:testSetSavingsZeroAddressError() (gas: 37006)
 StakedEXATest:testTotalSupplyDeposit(uint80) (runs: 256, μ: 330389, ~: 339193)
 StakedEXATest:testTotalSupplyWithdraw(uint256) (runs: 256, μ: 81753, ~: 81767)
 StakedEXATest:testUntransferable(uint80) (runs: 256, μ: 338580, ~: 348672)
-StakedEXATest:testWithdrawEvent(uint256) (runs: 256, μ: 483393, ~: 483140)
+StakedEXATest:testWithdrawEvent(uint256) (runs: 256, μ: 483398, ~: 483176)
 StakedEXATest:testWithdrawRewardUnderlyingAsset() (gas: 456617)
 StakedEXATest:testWithdrawRewardsOnlyAdmin() (gas: 242200)
 StakedEXATest:testWithdrawRewardsOnlyReward() (gas: 1177174)
-StakedEXATest:testWithdrawSameAmountRewardsShouldEqual(uint256,uint256) (runs: 256, μ: 1063385, ~: 1107803)
-StakedEXATest:testWithdrawWithRewards(uint256) (runs: 256, μ: 895617, ~: 895364)
+StakedEXATest:testWithdrawSameAmountRewardsShouldEqual(uint256,uint256) (runs: 256, μ: 1065152, ~: 1107803)
+StakedEXATest:testWithdrawWithRewards(uint256) (runs: 256, μ: 895622, ~: 895400)
 StakedEXATest:testZeroRateError() (gas: 58274)
 StakingPreviewerTest:testAllClaimable() (gas: 769205)
 StakingPreviewerTest:testAllClaimed() (gas: 818952)
diff --git a/contracts/PriceFeedInverse.sol b/contracts/PriceFeedInverse.sol
index b51e992e8..3c8c5dc0c 100644
--- a/contracts/PriceFeedInverse.sol
+++ b/contracts/PriceFeedInverse.sol
@@ -3,29 +3,70 @@ pragma solidity ^0.8.17;
 
 import { FixedPointMathLib } from "solady/src/utils/FixedPointMathLib.sol";
 import { SafeCastLib } from "solady/src/utils/SafeCastLib.sol";
+
 import { IPriceFeed } from "./utils/IPriceFeed.sol";
 
 contract PriceFeedInverse is IPriceFeed {
   using FixedPointMathLib for uint256;
   using SafeCastLib for int256;
 
-  /// @notice Price feed whose answer is inverted.
-  IPriceFeed public immutable priceFeed;
-  /// @notice Number of decimals that the answer of this price feed has, same as the inverted feed's.
+  /// @notice Source price feed whose answer is inverted.
+  IAggregatorProxy public immutable priceFeed;
+  /// @notice Number of decimals that the answer of this price feed has, same as the source feed's.
   uint8 public immutable decimals;
-  /// @notice Base unit of the inverted feed's answer.
-  uint256 public immutable baseUnit;
+  /// @notice Square of the source feed's base unit, used as the numerator to invert its answer.
+  uint256 public immutable baseUnitSquared;
 
-  constructor(IPriceFeed priceFeed_) {
+  constructor(IAggregatorProxy priceFeed_) {
     priceFeed = priceFeed_;
     decimals = priceFeed_.decimals();
-    baseUnit = 10 ** decimals;
+    baseUnitSquared = 10 ** (2 * uint256(decimals));
   }
 
-  /// @notice Returns the inverse of the price feed's latest answer.
+  /// @notice Returns the inverse of the source feed's latest answer.
   /// @dev Rounds up, the conservative direction for debt-only markets, so the inverse can't truncate to zero.
   /// Reverts on a zero or negative answer.
   function latestAnswer() external view returns (int256) {
-    return int256(baseUnit.mulDivUp(baseUnit, priceFeed.latestAnswer().toUint256()));
+    return inverse(priceFeed.latestAnswer());
+  }
+
+  /// @notice Returns the source feed's data for `roundId_`, with the answer inverted like `latestAnswer`.
+  /// @dev A zero answer, which the source returns for rounds without data, is kept as zero.
+  function getRoundData(
+    uint80 roundId_
+  )
+    external
+    view
+    returns (uint80 roundId, int256 answer, uint256 startedAt, uint256 updatedAt, uint80 answeredInRound)
+  {
+    (roundId, answer, startedAt, updatedAt, answeredInRound) = priceFeed.getRoundData(roundId_);
+    if (answer != 0) answer = inverse(answer);
+  }
+
+  /// @notice Returns the source feed's latest round data, with the answer inverted like `latestAnswer`.
+  function latestRoundData()
+    external
+    view
+    returns (uint80 roundId, int256 answer, uint256 startedAt, uint256 updatedAt, uint80 answeredInRound)
+  {
+    (roundId, answer, startedAt, updatedAt, answeredInRound) = priceFeed.latestRoundData();
+    answer = inverse(answer);
+  }
+
+  /// @notice Returns the source feed's current phase id.
+  function phaseId() external view returns (uint16) {
+    return priceFeed.phaseId();
   }
+
+  function inverse(int256 answer) internal view returns (int256) {
+    return int256(baseUnitSquared.divUp(answer.toUint256()));
+  }
+}
+
+interface IAggregatorProxy is IPriceFeed {
+  function getRoundData(uint80 roundId) external view returns (uint80, int256, uint256, uint256, uint80);
+
+  function latestRoundData() external view returns (uint80, int256, uint256, uint256, uint80);
+
+  function phaseId() external view returns (uint16);
 }
diff --git a/contracts/periphery/FlashLoanAdapter.sol b/contracts/periphery/FlashLoanAdapter.sol
index 1aff7d959..491bf4c37 100644
--- a/contracts/periphery/FlashLoanAdapter.sol
+++ b/contracts/periphery/FlashLoanAdapter.sol
@@ -1,108 +1,66 @@
 // SPDX-License-Identifier: GPL-3.0
 pragma solidity ^0.8.20;
 
-import { AccessControl } from "@openzeppelin/contracts-v4/access/AccessControl.sol";
 import { IERC20 } from "@openzeppelin/contracts-v4/interfaces/IERC20.sol";
-import { IERC4626 } from "@openzeppelin/contracts-v4/interfaces/IERC4626.sol";
+import { SafeTransferLib } from "solady/src/utils/SafeTransferLib.sol";
+
+import { IFlashLoaner, IFlashLoanRecipient } from "./DebtRoller.sol";
 
 /// @title FlashLoanAdapter
-/// @notice Adapter to use Balancer V3 vault with Balancer V2 interface.
-///   Uses wrapped tokens when there's not enough liquidity in the vault.
-contract FlashLoanAdapter is AccessControl {
-  IBalancerVaultV3 public immutable vault;
+/// @notice Adapter to use Morpho flash loans with the `IFlashLoaner` interface.
+///   Morpho flash loans are free, so reported fees are always zero.
+contract FlashLoanAdapter is IFlashLoaner {
+  using SafeTransferLib for address;
 
-  /// @notice Mapping to check if a token is a wrapped token.
-  mapping(IERC20 wToken => bool isWToken) public isWToken;
-  /// @notice Mapping to get the wrapped token for an asset.
-  mapping(IERC20 asset => IERC4626 wToken) public wTokens;
+  /// @notice Morpho contract that provides the flash loans.
+  IMorpho public immutable morpho;
 
-  constructor(IBalancerVaultV3 vault_, address owner) {
-    _grantRole(DEFAULT_ADMIN_ROLE, owner);
-    vault = vault_;
+  constructor(IMorpho morpho_) {
+    morpho = morpho_;
   }
 
-  /// @notice Performs a flash loan using the Balancer V3 vault.
+  /// @notice Performs a flash loan using Morpho.
   /// @param recipient The address to receive the flash loan.
   /// @param tokens The tokens to borrow.
   /// @param amounts The amounts to borrow.
   /// @param data Additional data to pass to the recipient.
-  // solhint-disable-next-line gas-calldata-parameters
-  function flashLoan(address recipient, IERC20[] memory tokens, uint256[] memory amounts, bytes memory data) external {
+  function flashLoan(
+    address recipient,
+    IERC20[] calldata tokens,
+    uint256[] calldata amounts,
+    bytes calldata data
+  ) external {
     if (tokens.length != 1 || amounts.length != 1) revert InvalidLength();
-    uint256[] memory fees = new uint256[](1);
-    if (tokens[0].balanceOf(address(vault)) < amounts[0]) {
-      IERC4626 wToken = wTokens[tokens[0]];
-      if (wToken == IERC4626(address(0)) || wToken.convertToAssets(wToken.balanceOf(address(vault))) < amounts[0]) {
-        revert InsufficientLiquidity();
-      }
-
-      tokens[0] = IERC20(address(wToken));
-      uint256 shares = wToken.previewWithdraw(amounts[0]);
-      fees[0] = wToken.previewMint(shares) - amounts[0];
-      amounts[0] = shares;
-    }
-    vault.unlock(
-      abi.encodeWithSelector(this.receiveFlashLoan.selector, abi.encode(recipient, tokens, amounts, fees, data))
-    );
+    morpho.flashLoan(address(tokens[0]), amounts[0], abi.encode(recipient, tokens[0], data));
   }
 
-  /// @notice Receives a flash loan from the Balancer V3 vault.
-  /// @param payload The payload containing the recipient, tokens, amounts, fees, and data.
-  function receiveFlashLoan(bytes calldata payload) external {
-    if (msg.sender != address(vault)) revert UnauthorizedVault();
-    (
-      address recipient,
-      IERC20[] memory tokens,
-      uint256[] memory amounts,
-      uint256[] memory fees,
-      bytes memory data
-    ) = abi.decode(payload, (address, IERC20[], uint256[], uint256[], bytes));
+  /// @notice Receives a flash loan from Morpho, forwards it to the recipient and approves the repayment.
+  /// @param assets The amount of assets that was flash loaned.
+  /// @param payload The payload containing the recipient, token, and data.
+  function onMorphoFlashLoan(uint256 assets, bytes calldata payload) external {
+    if (msg.sender != address(morpho)) revert UnauthorizedMorpho();
+    (address recipient, IERC20 token, bytes memory data) = abi.decode(payload, (address, IERC20, bytes));
+    IERC20[] memory tokens = new IERC20[](1);
+    tokens[0] = token;
+    uint256[] memory amounts = new uint256[](1);
+    amounts[0] = assets;
 
-    if (isWToken[tokens[0]]) {
-      IERC4626 wToken = IERC4626(address(tokens[0]));
-      vault.sendTo(tokens[0], address(this), amounts[0]);
-      tokens[0] = IERC20(wToken.asset());
-      amounts[0] = wToken.redeem(amounts[0], recipient, address(this));
-      IFlashLoanRecipient(recipient).receiveFlashLoan(tokens, amounts, fees, data);
+    address(token).safeTransfer(recipient, assets);
+    IFlashLoanRecipient(recipient).receiveFlashLoan(tokens, amounts, new uint256[](1), data);
 
-      tokens[0].approve(address(wToken), amounts[0] + fees[0]);
-      wToken.deposit(amounts[0] + fees[0], address(vault));
-      vault.settle(wToken, amounts[0]);
-    } else {
-      vault.sendTo(tokens[0], recipient, amounts[0]);
-      IFlashLoanRecipient(recipient).receiveFlashLoan(tokens, amounts, fees, data);
-      tokens[0].transfer(address(vault), amounts[0]);
-      vault.settle(tokens[0], amounts[0]);
-    }
+    address(token).safeApprove(address(morpho), assets);
   }
 
-  /// @notice Sets a wrapped token for an asset.
-  /// @param asset The asset to set the wrapped token for.
-  /// @param token The wrapped token to set.
-  function setWToken(IERC20 asset, IERC4626 token) external onlyRole(DEFAULT_ADMIN_ROLE) {
-    wTokens[asset] = token;
-    isWToken[token] = true;
-    emit WTokenSet(asset, token, msg.sender);
+  /// @notice Returns the amount of `token` available to be flash loaned.
+  /// @param token The token to check.
+  function available(IERC20 token) external view returns (uint256) {
+    return token.balanceOf(address(morpho));
   }
 }
 
-interface IBalancerVaultV3 {
-  function sendTo(IERC20 token, address to, uint256 amount) external;
-  function settle(IERC20 token, uint256 amountHint) external returns (uint256 credit);
-  function unlock(bytes calldata data) external returns (bytes memory);
+interface IMorpho {
+  function flashLoan(address token, uint256 assets, bytes calldata data) external;
 }
 
-interface IFlashLoanRecipient {
-  function receiveFlashLoan(
-    IERC20[] memory tokens,
-    uint256[] memory amounts,
-    uint256[] memory fees,
-    bytes calldata data
-  ) external;
-}
-
-error InsufficientLiquidity();
 error InvalidLength();
-error UnauthorizedVault();
-
-event WTokenSet(IERC20 indexed asset, IERC4626 indexed wToken, address indexed account);
+error UnauthorizedMorpho();
diff --git a/deploy/FlashLoan.ts b/deploy/FlashLoan.ts
index 3310505b0..190cd062e 100644
--- a/deploy/FlashLoan.ts
+++ b/deploy/FlashLoan.ts
@@ -3,16 +3,12 @@ import type { DeployFunction } from "hardhat-deploy/types";
 import tenderlify from "./.utils/tenderlify";
 
 const func: DeployFunction = async ({ deployments: { deploy, get }, getNamedAccounts }) => {
-  const [{ address: flashLoaner }, { address: timelock }, { deployer }] = await Promise.all([
-    get("Balancer3Vault"),
-    get("TimelockController"),
-    getNamedAccounts(),
-  ]);
+  const [{ address: morpho }, { deployer }] = await Promise.all([get("Morpho"), getNamedAccounts()]);
 
   await tenderlify(
     "FlashLoanAdapter",
     await deploy("FlashLoanAdapter", {
-      args: [flashLoaner, timelock],
+      args: [morpho],
       skipIfAlreadyDeployed: !JSON.parse(env[`DEPLOY_FLASH_LOAN`] ?? "false"),
       from: deployer,
       log: true,
@@ -21,8 +17,6 @@ const func: DeployFunction = async ({ deployments: { deploy, get }, getNamedAcco
 };
 
 func.tags = ["FlashLoan"];
-func.dependencies = ["Governance"];
-func.skip = async ({ network, deployments }) =>
-  !!network.config.sunset || !(await deployments.getOrNull("Balancer3Vault"));
+func.skip = async ({ network, deployments }) => !!network.config.sunset || !(await deployments.getOrNull("Morpho"));
 
 export default func;
diff --git a/deployments/base/Balancer3Vault.json b/deployments/base/Balancer3Vault.json
deleted file mode 100644
index 561eeed0b..000000000
--- a/deployments/base/Balancer3Vault.json
+++ /dev/null
@@ -1,3 +0,0 @@
-{
-  "address": "0xbA1333333333a1BA1108E8412f11850A5C319bA9"
-}
diff --git a/deployments/base/Morpho.json b/deployments/base/Morpho.json
new file mode 100644
index 000000000..457f9ec18
--- /dev/null
+++ b/deployments/base/Morpho.json
@@ -0,0 +1,3 @@
+{
+  "address": "0xBBBBBbbBBb9cC5e90e3b3Af64bdAF62C37EEFFCb"
+}
diff --git a/deployments/optimism/Morpho.json b/deployments/optimism/Morpho.json
new file mode 100644
index 000000000..f754ebe23
--- /dev/null
+++ b/deployments/optimism/Morpho.json
@@ -0,0 +1,3 @@
+{
+  "address": "0xce95AfbB8EA029495c66020883F87aaE8864AF92"
+}
diff --git a/test/FlashLoanAdapter.t.sol b/test/FlashLoanAdapter.t.sol
index 06039d68c..1d224f16c 100644
--- a/test/FlashLoanAdapter.t.sol
+++ b/test/FlashLoanAdapter.t.sol
@@ -1,117 +1,202 @@
 // SPDX-License-Identifier: GPL-3.0
 pragma solidity ^0.8.0; // solhint-disable-line one-contract-per-file
 
-import { IERC20 } from "@openzeppelin/contracts-v4/interfaces/IERC20.sol";
+import { ERC1967Proxy } from "@openzeppelin/contracts/proxy/ERC1967/ERC1967Proxy.sol";
 
 import { ForkTest } from "./Fork.t.sol";
 
+import { FixedLib } from "../contracts/utils/FixedLib.sol";
+import { Auditor, DebtRoller, IFlashLoanRecipient, Market } from "../contracts/periphery/DebtRoller.sol";
 import {
-  FlashLoanAdapter,
-  IBalancerVaultV3,
-  IERC4626,
-  IFlashLoanRecipient,
+  IERC20,
+  IMorpho,
   InvalidLength,
-  WTokenSet
+  FlashLoanAdapter,
+  UnauthorizedMorpho
 } from "../contracts/periphery/FlashLoanAdapter.sol";
 
 contract FlashLoanAdapterTest is ForkTest {
   FlashLoanAdapter internal adapter;
-  IBalancerVaultV3 internal vaultV3;
+  FlashLoanConsumer internal consumer;
+  IMorpho internal morpho;
+  IERC20 internal usdc;
+  IERC20 internal weth;
 
   function setUp() external {
-    adapter = new FlashLoanAdapter(IBalancerVaultV3(address(0)), address(this));
+    vm.createSelectFork(vm.envString("OPTIMISM_NODE"), 157_331_000);
+
+    morpho = IMorpho(deployment("Morpho"));
+    usdc = IERC20(deployment("USDC"));
+    weth = IERC20(deployment("WETH"));
+    adapter = new FlashLoanAdapter(morpho);
+    consumer = new FlashLoanConsumer(adapter);
   }
 
-  function test_setWToken_sets_whenAdmin() external {
-    IERC20 asset = IERC20(address(0x1));
-    IERC4626 wToken = IERC4626(address(0x2));
+  function test_flashLoan_lends_usdc(uint256 amount) external {
+    amount = bound(amount, 1, adapter.available(usdc));
+    uint256 morphoBalance = usdc.balanceOf(address(morpho));
 
-    adapter.setWToken(asset, wToken);
-    assertEq(address(adapter.wTokens(asset)), address(wToken), "wToken not set");
+    consumer.callFlashLoan(usdc, amount, "");
+
+    assertLent(usdc, amount, morphoBalance);
   }
 
-  function test_setWToken_emitsWTokenSet() external {
-    IERC20 asset = IERC20(address(0x1));
-    IERC4626 wToken = IERC4626(address(0x2));
-    vm.expectEmit(true, true, true, true, address(adapter));
-    emit WTokenSet(asset, wToken, address(this));
-    adapter.setWToken(asset, wToken);
+  function test_flashLoan_lends_fullBalance_usdc() external {
+    uint256 amount = adapter.available(usdc);
+    assertGt(amount, 0, "no usdc available");
+
+    consumer.callFlashLoan(usdc, amount, "");
+
+    assertLent(usdc, amount, amount);
   }
 
-  function test_setWToken_reverts_whenNotAdmin() external {
-    address nonAdmin = address(0x1);
-    vm.startPrank(nonAdmin);
-    vm.expectRevert(bytes(""));
-    adapter.setWToken(IERC20(address(0x1)), IERC4626(address(0x2)));
-    assertEq(address(adapter.wTokens(IERC20(address(0x1)))), address(0), "wToken set");
+  function test_flashLoan_lends_fullBalance_weth() external {
+    uint256 amount = adapter.available(weth);
+    assertGt(amount, 0, "no weth available");
+
+    consumer.callFlashLoan(weth, amount, "");
+
+    assertLent(weth, amount, amount);
   }
 
-  function test_consumeAdapter() external {
-    _setUpFork();
-    IERC20 rETH = IERC20(0x9Bcef72be871e61ED4fBbc7630889beE758eb81D);
-    FlashLoanConsumer consumer = new FlashLoanConsumer(adapter, rETH);
-    consumer.callFlashLoan();
+  function test_flashLoan_forwardsArguments() external {
+    uint256 amount = 1_000e6;
+    bytes memory data = abi.encode("data");
+    IERC20[] memory tokens = new IERC20[](1);
+    tokens[0] = usdc;
+    uint256[] memory amounts = new uint256[](1);
+    amounts[0] = amount;
+
+    vm.expectCall(
+      address(morpho),
+      abi.encodeCall(IMorpho.flashLoan, (address(usdc), amount, abi.encode(address(consumer), usdc, data)))
+    );
+    vm.expectCall(
+      address(consumer),
+      abi.encodeCall(IFlashLoanRecipient.receiveFlashLoan, (tokens, amounts, new uint256[](1), data))
+    );
+    consumer.callFlashLoan(usdc, amount, data);
   }
 
-  function test_consumeAdapter_withWToken() external {
-    _setUpFork();
-    IERC20 usdc = IERC20(deployment("USDC"));
-    IERC4626 waOptUSDCn = IERC4626(address(0x41B334E9F2C0ED1f30fD7c351874a6071C53a78E));
-    adapter.setWToken(usdc, waOptUSDCn);
-    FlashLoanConsumer consumer = new FlashLoanConsumer(adapter, usdc);
+  function test_flashLoan_lends_whenCallerIsNotRecipient() external {
+    uint256 amount = 1_000e6;
+    uint256 morphoBalance = usdc.balanceOf(address(morpho));
+    IERC20[] memory tokens = new IERC20[](1);
+    tokens[0] = usdc;
+    uint256[] memory amounts = new uint256[](1);
+    amounts[0] = amount;
+
+    vm.prank(makeAddr("alice"));
+    adapter.flashLoan(address(consumer), tokens, amounts, "");
+
+    assertLent(usdc, amount, morphoBalance);
+  }
 
-    deal(address(usdc), address(consumer), 1);
-    consumer.callFlashLoan();
+  function test_flashLoan_reverts_whenOverAvailable() external {
+    uint256 amount = adapter.available(usdc) + 1;
+    vm.expectRevert(bytes("transfer reverted"));
+    consumer.callFlashLoan(usdc, amount, "");
+  }
 
-    assertEq(usdc.balanceOf(address(consumer)), 0);
-    assertEq(usdc.balanceOf(address(adapter)), 0);
+  function test_flashLoan_reverts_whenZeroAmount() external {
+    vm.expectRevert(bytes("zero assets"));
+    consumer.callFlashLoan(usdc, 0, "");
   }
 
   function test_flashLoan_reverts_whenTokensLengthNotOne() external {
     vm.expectRevert(InvalidLength.selector);
-    adapter.flashLoan(address(0), new IERC20[](0), new uint256[](1), "");
+    adapter.flashLoan(address(consumer), new IERC20[](2), new uint256[](1), "");
   }
 
   function test_flashLoan_reverts_whenAmountsLengthNotOne() external {
     vm.expectRevert(InvalidLength.selector);
-    adapter.flashLoan(address(0), new IERC20[](1), new uint256[](0), "");
+    adapter.flashLoan(address(consumer), new IERC20[](1), new uint256[](0), "");
+  }
+
+  function test_onMorphoFlashLoan_reverts_whenNotMorpho() external {
+    uint256 amount = 1_000e6;
+    address attacker = makeAddr("attacker");
+    deal(address(usdc), address(adapter), amount);
+    IERC20[] memory tokens = new IERC20[](1);
+    tokens[0] = usdc;
+    uint256[] memory amounts = new uint256[](1);
+    amounts[0] = amount;
+
+    vm.prank(attacker);
+    vm.expectRevert(UnauthorizedMorpho.selector);
+    adapter.onMorphoFlashLoan(amount, abi.encode(attacker, tokens, amounts, ""));
+
+    assertEq(usdc.balanceOf(address(adapter)), amount, "adapter lost tokens");
+    assertEq(usdc.allowance(address(adapter), address(morpho)), 0, "allowance set");
   }
 
-  function _setUpFork() internal {
-    vm.createSelectFork(vm.envString("OPTIMISM_NODE"), 141_227_400);
+  function test_rollFixed_rolls_withDebtRoller() external {
+    Auditor auditor = Auditor(deployment("Auditor"));
+    upgrade(address(auditor), address(new Auditor(auditor.priceDecimals())));
+    Market exaUSDC = Market(deployment("MarketUSDC"));
+    DebtRoller debtRoller = DebtRoller(address(new ERC1967Proxy(address(new DebtRoller(auditor, adapter)), "")));
+    debtRoller.initialize();
+
+    address bob = makeAddr("bob");
+    uint256 maturity = block.timestamp - (block.timestamp % FixedLib.INTERVAL) + FixedLib.INTERVAL;
+    uint256 borrowAmount = 1_000e6;
+    deal(address(usdc), bob, 10_000e6);
+
+    vm.startPrank(bob);
+    usdc.approve(address(exaUSDC), type(uint256).max);
+    exaUSDC.deposit(10_000e6, bob);
+    auditor.enterMarket(exaUSDC);
+    exaUSDC.borrowAtMaturity(maturity, borrowAmount, type(uint256).max, bob, bob);
+
+    uint256 marketBalance = usdc.balanceOf(address(exaUSDC));
+    uint256 morphoBalance = usdc.balanceOf(address(morpho));
+    exaUSDC.approve(address(debtRoller), type(uint256).max);
+    debtRoller.rollFixed(exaUSDC, maturity, maturity + FixedLib.INTERVAL, borrowAmount * 2, type(uint256).max, 1e18);
+    vm.stopPrank();
+
+    (uint256 principal, uint256 fee) = exaUSDC.fixedBorrowPositions(maturity, bob);
+    assertEq(principal + fee, 0, "repay maturity not rolled");
+    (principal, ) = exaUSDC.fixedBorrowPositions(maturity + FixedLib.INTERVAL, bob);
+    assertGe(principal, borrowAmount, "borrow maturity not rolled");
+    assertEq(usdc.balanceOf(address(exaUSDC)), marketBalance, "flash loan fee charged");
+    assertEq(usdc.balanceOf(address(morpho)), morphoBalance, "morpho not repaid");
+    assertEq(usdc.balanceOf(address(debtRoller)), 0, "debt roller kept tokens");
+    assertEq(usdc.balanceOf(address(adapter)), 0, "adapter kept tokens");
+  }
 
-    vaultV3 = IBalancerVaultV3(0xbA1333333333a1BA1108E8412f11850A5C319bA9);
-    adapter = new FlashLoanAdapter(vaultV3, address(this));
+  function assertLent(IERC20 token, uint256 amount, uint256 morphoBalance) internal view {
+    assertEq(consumer.received(), amount, "recipient not funded");
+    assertEq(token.balanceOf(address(consumer)), 0, "recipient kept tokens");
+    assertEq(token.balanceOf(address(morpho)), morphoBalance, "morpho not repaid");
+    assertEq(token.balanceOf(address(adapter)), 0, "adapter kept tokens");
+    assertEq(token.allowance(address(adapter), address(morpho)), 0, "allowance not consumed");
   }
 }
 
 contract FlashLoanConsumer is IFlashLoanRecipient {
-  FlashLoanAdapter internal adapter;
-  IERC20 internal token;
-  uint256 internal prevAmount;
+  FlashLoanAdapter internal immutable adapter;
+  uint256 public received;
 
-  constructor(FlashLoanAdapter adapter_, IERC20 token_) {
+  constructor(FlashLoanAdapter adapter_) {
     adapter = adapter_;
-    token = token_;
   }
 
-  function callFlashLoan() external {
-    prevAmount = token.balanceOf(address(this));
+  function callFlashLoan(IERC20 token, uint256 amount, bytes memory data) external {
     IERC20[] memory tokens = new IERC20[](1);
     tokens[0] = token;
     uint256[] memory amounts = new uint256[](1);
-    amounts[0] = 1e6;
-    adapter.flashLoan(address(this), tokens, amounts, "");
+    amounts[0] = amount;
+    adapter.flashLoan(address(this), tokens, amounts, data);
   }
 
   function receiveFlashLoan(
     IERC20[] memory tokens,
     uint256[] memory amounts,
     uint256[] memory fees,
-    bytes calldata
+    bytes memory
   ) external {
-    assert(token.balanceOf(address(this)) == prevAmount + amounts[0]);
-    assert(address(tokens[0]) == address(token));
+    assert(msg.sender == address(adapter));
+    received = tokens[0].balanceOf(address(this));
     tokens[0].transfer(address(adapter), amounts[0] + fees[0]);
   }
 }
diff --git a/test/PriceFeedInverse.t.sol b/test/PriceFeedInverse.t.sol
index 3f91ce618..c381b4675 100644
--- a/test/PriceFeedInverse.t.sol
+++ b/test/PriceFeedInverse.t.sol
@@ -1,28 +1,33 @@
 // SPDX-License-Identifier: BUSL-1.1
-pragma solidity ^0.8.17;
+pragma solidity ^0.8.17; // solhint-disable-line one-contract-per-file
 
-import { Test } from "forge-std/Test.sol";
+import { Test, stdError } from "forge-std/Test.sol";
 import { FixedPointMathLib } from "solady/src/utils/FixedPointMathLib.sol";
 import { SafeCastLib } from "solady/src/utils/SafeCastLib.sol";
 import { Auditor } from "../contracts/Auditor.sol";
-import { PriceFeedInverse } from "../contracts/PriceFeedInverse.sol";
-import { MockPriceFeed } from "../contracts/mocks/MockPriceFeed.sol";
+import { IAggregatorProxy, PriceFeedInverse } from "../contracts/PriceFeedInverse.sol";
 
 contract PriceFeedInverseTest is Test {
   using FixedPointMathLib for uint256;
 
   PriceFeedInverse internal priceFeedInverse;
-  MockPriceFeed internal usdArsPriceFeed;
+  MockAggregatorProxy internal usdArsPriceFeed;
 
   function setUp() external {
-    usdArsPriceFeed = new MockPriceFeed(8, 1_607.5387e8);
+    usdArsPriceFeed = new MockAggregatorProxy(8, 1, 1_607.5387e8);
     priceFeedInverse = new PriceFeedInverse(usdArsPriceFeed);
   }
 
-  function test_constructor_setsPriceFeedDecimalsAndBaseUnit() external view {
+  function test_constructor_setsPriceFeedDecimalsAndBaseUnitSquared() external view {
     assertEq(address(priceFeedInverse.priceFeed()), address(usdArsPriceFeed));
     assertEq(priceFeedInverse.decimals(), 8);
-    assertEq(priceFeedInverse.baseUnit(), 1e8);
+    assertEq(priceFeedInverse.baseUnitSquared(), 1e16);
+  }
+
+  function test_constructor_reverts_whenBaseUnitSquaredOverflows() external {
+    MockAggregatorProxy priceFeed = new MockAggregatorProxy(39, 1, 1);
+    vm.expectRevert(stdError.arithmeticError);
+    new PriceFeedInverse(priceFeed);
   }
 
   function test_latestAnswer_returnsInverse() external {
@@ -52,7 +57,7 @@ contract PriceFeedInverseTest is Test {
 
   function test_latestAnswer_reverts_whenAnswerIsZero() external {
     usdArsPriceFeed.setPrice(0);
-    vm.expectRevert(FixedPointMathLib.MulDivFailed.selector);
+    vm.expectRevert(FixedPointMathLib.DivFailed.selector);
     priceFeedInverse.latestAnswer();
   }
 
@@ -80,6 +85,95 @@ contract PriceFeedInverseTest is Test {
     assertEq(auditor.assetPrice(priceFeedInverse), 1e10);
   }
 
+  function test_getRoundData_returnsInverse_withRoundDataUnchanged() external {
+    usdArsPriceFeed.setRound(1_595.0362e8, 100, 200);
+    uint80 roundId = usdArsPriceFeed.latestRound();
+
+    (uint80 id, int256 answer, uint256 startedAt, uint256 updatedAt, uint80 answeredInRound) = priceFeedInverse
+      .getRoundData(roundId);
+    assertEq(id, roundId);
+    assertEq(answer, 62_695);
+    assertEq(startedAt, 100);
+    assertEq(updatedAt, 200);
+    assertEq(answeredInRound, roundId);
+  }
+
+  function test_getRoundData_returnsInverse_whenRoundIsHistorical() external {
+    uint80 roundId = usdArsPriceFeed.latestRound();
+    usdArsPriceFeed.setPrice(1_595.0362e8);
+
+    (uint80 id, int256 answer, , , ) = priceFeedInverse.getRoundData(roundId);
+    assertEq(id, roundId);
+    assertEq(answer, 62_207);
+  }
+
+  function test_getRoundData_returnsZero_whenAnswerIsZero() external {
+    usdArsPriceFeed.setPrice(0);
+    (, int256 answer, , , ) = priceFeedInverse.getRoundData(usdArsPriceFeed.latestRound());
+    assertEq(answer, 0);
+  }
+
+  function test_getRoundData_returnsZero_whenRoundHasNoData() external {
+    uint80 roundId = usdArsPriceFeed.latestRound() + 1;
+
+    (uint80 id, int256 answer, uint256 startedAt, uint256 updatedAt, uint80 answeredInRound) = priceFeedInverse
+      .getRoundData(roundId);
+    assertEq(id, roundId);
+    assertEq(answer, 0);
+    assertEq(startedAt, 0);
+    assertEq(updatedAt, 0);
+    assertEq(answeredInRound, roundId);
+  }
+
+  function test_getRoundData_reverts_whenAnswerIsNegative() external {
+    usdArsPriceFeed.setPrice(-1);
+    uint80 roundId = usdArsPriceFeed.latestRound();
+    vm.expectRevert(SafeCastLib.Overflow.selector);
+    priceFeedInverse.getRoundData(roundId);
+  }
+
+  function test_latestRoundData_returnsInverse_withRoundDataUnchanged() external {
+    usdArsPriceFeed.setRound(1_595.0362e8, 100, 200);
+
+    (uint80 id, int256 answer, uint256 startedAt, uint256 updatedAt, uint80 answeredInRound) = priceFeedInverse
+      .latestRoundData();
+    assertEq(id, usdArsPriceFeed.latestRound());
+    assertEq(answer, 62_695);
+    assertEq(startedAt, 100);
+    assertEq(updatedAt, 200);
+    assertEq(answeredInRound, usdArsPriceFeed.latestRound());
+  }
+
+  function test_latestRoundData_reverts_whenAnswerIsZero() external {
+    usdArsPriceFeed.setPrice(0);
+    vm.expectRevert(FixedPointMathLib.DivFailed.selector);
+    priceFeedInverse.latestRoundData();
+  }
+
+  function test_latestRoundData_reverts_whenAnswerIsNegative() external {
+    usdArsPriceFeed.setPrice(-1);
+    vm.expectRevert(SafeCastLib.Overflow.selector);
+    priceFeedInverse.latestRoundData();
+  }
+
+  function test_phaseId_returnsSourcePhaseId() external {
+    assertEq(priceFeedInverse.phaseId(), 1);
+
+    MockAggregatorProxy priceFeed = new MockAggregatorProxy(8, 3, 1);
+    assertEq(new PriceFeedInverse(priceFeed).phaseId(), 3);
+  }
+
+  function testFuzz_latestRoundData_matchesLatestAnswer(int256 price) external {
+    price = bound(price, 1, 2 ** 176 - 1);
+    usdArsPriceFeed.setPrice(price);
+
+    int256 latestAnswer = priceFeedInverse.latestAnswer();
+    (, int256 latestRoundAnswer, , , ) = priceFeedInverse.latestRoundData();
+    (, int256 roundAnswer, , , ) = priceFeedInverse.getRoundData(usdArsPriceFeed.latestRound());
+    assertEq(latestRoundAnswer, latestAnswer);
+    assertEq(roundAnswer, latestAnswer);
+  }
+
   function testFuzz_latestAnswer_returnsOne_whenAnswerIsAboveBaseUnitSquared(int256 price) external {
     price = bound(price, 1e16, 2 ** 176 - 1);
     usdArsPriceFeed.setPrice(price);
@@ -116,3 +210,44 @@ contract PriceFeedInverseTest is Test {
     return scale.mulDivUp(1e8, price).mulDivUp(1e8, scale);
   }
 }
+
+contract MockAggregatorProxy is IAggregatorProxy {
+  uint8 public immutable decimals;
+  uint16 public immutable phaseId;
+  uint80 public latestRound;
+  mapping(uint80 roundId => Round) public rounds;
+
+  constructor(uint8 decimals_, uint16 phaseId_, int256 price_) {
+    decimals = decimals_;
+    phaseId = phaseId_;
+    latestRound = uint80(phaseId_) << 64;
+    setPrice(price_);
+  }
+
+  function latestAnswer() external view returns (int256) {
+    return rounds[latestRound].answer;
+  }
+
+  function latestRoundData() external view returns (uint80, int256, uint256, uint256, uint80) {
+    return getRoundData(latestRound);
+  }
+
+  function getRoundData(uint80 roundId) public view returns (uint80, int256, uint256, uint256, uint80) {
+    Round memory round = rounds[roundId];
+    return (roundId, round.answer, round.startedAt, round.updatedAt, roundId);
+  }
+
+  function setPrice(int256 price) public {
+    setRound(price, block.timestamp, block.timestamp);
+  }
+
+  function setRound(int256 answer, uint256 startedAt, uint256 updatedAt) public {
+    rounds[++latestRound] = Round(answer, startedAt, updatedAt);
+  }
+
+  struct Round {
+    int256 answer;
+    uint256 startedAt;
+    uint256 updatedAt;
+  }
+}