Smart Contract Architecture
Smart Contract Topography
Core Contracts
NodeRegistry
The central registry and governance contract for the protocol. It:
Maintains whitelist of protocol participants (factories, routers, quoters, rebalancers)
Store a list of valid Nodes
Stores protocol-wide parameters and fee settings
Controls deployment permissions through role-based access
Acts as the source of truth for valid protocol components
NodeFactory
A factory pattern contract that standardizes and controls Node deployment. It:
Creates new Node instances with standardized initialization
Deploys associated Escrow contracts
Registers new Nodes with the NodeRegistry
Ensures proper initialization of Node parameters and permissions
Escrow
A simple but critical security contract that:
Holds assets during the withdrawal process
Provides secure asset custody during async operations
Grants specific permissions to its associated Node
Prevents direct manipulation of held assets
Extensible Contract Classes
Nodes
Nodes are the core investment vehicle contracts that can be implemented for different investment strategies and mechanics.
Current Implementation - Node.sol:
Implements an MMF (Money Market Fund) style investment vehicle using swing pricing
Manages reserve ratios and component allocations
Handles deposits and redemptions with dynamic pricing
Coordinates with Routers for component interactions
Processes management and execution fees
Controls rebalancing windows and cooldowns
Future Node implementations could support:
Different pricing mechanisms
Various investment strategies
Alternative asset management approaches
Specialized financial instruments
Routers
Routers are specialized contracts that handle interactions with specific asset types or protocols. They abstract away the complexity of different asset interfaces.
Current Implementations:
ERC4626Router
Handles standard yield-bearing vault interactions
Manages deposits and withdrawals
Tracks component assets
ERC7540Router
Manages async vault interactions
Handles request/claim patterns
Coordinates multi-step operations
Future Router implementations could support:
DEX integrations
Lending protocol interactions
Complex derivative positions
Cross-chain assets
Other specialized protocols
Quoters
Quoters are contracts that calculate pricing and execution parameters. They can be implemented for different pricing strategies.
Current Implementation - QuoterV1:
Implements swing pricing calculations
Computes deposit bonuses and withdrawal penalties
Manages reserve ratio impacts
Uses exponential scaling for price adjustments
Future Quoter implementations could support:
Alternative pricing models
Reading oracle data onchain
Interacting with offchain data sources such as ZKVMs
Libraries
BaseRouter
A foundational library that:
Provides common Router functionality
Implements standard security checks
Manages component whitelisting
Handles fee calculations
BaseQuoter
A foundational library that:
Provides common Quoter functionality
Implements access controls
Manages Node validation
Standardizes interface requirements
Other Libraries
ErrorsLib: Standardized error handling
EventsLib: Standardized event emissions
MathLib: Safe mathematical operations
Protocol Extensibility
The protocol is designed for extensibility through:
Modular Architecture: Clear separation of concerns between contracts
Abstract Base Contracts: Common functionality in base contracts
Standardized Interfaces: Clear interface definitions for new implementations
Registry Pattern: Centralized control and validation
This architecture allows for:
New asset type support through additional Routers
Different investment strategies through new Node implementations
Alternative pricing mechanisms through new Quoters
Protocol evolution without core contract modifications
The current implementation focuses on MMF-style functionality with swing pricing, but the architecture supports expansion into various other financial instruments and strategies while maintaining security and standardization.
Last updated