Core

Purpose

• Unified Management: Centralizes interactions between users, adapters, and underlying DeFi protocols.

• Yield Optimization: Automates asset allocation, yield harvesting, reward distribution, and fee handling.

• Protocol Flexibility: Allows dynamic registration, removal, and switching of underlying DeFi protocols.

Key Contracts and Responsibilities

ProtocolRegistry.sol

Role:

• Manages and stores information about registered DeFi protocols and their adapters.

• Allows adding or removing protocols and adapters dynamically.

Functions:

• registerProtocol: Add new protocols.

• registerAdapter: Link specific adapters to protocols and assets.

• removeAdapter: Remove adapters from registry.

• setActiveProtocol: Set the currently active protocol for asset deposits and yield harvesting.

Interactions:

• Utilized by the CombinedVault to query and interact with appropriate adapters based on registered protocols.

CombinedVault.sol

Role:

• Handles user asset deposits, withdrawals, and yield harvesting.

• Implements time-weighted accounting to fairly distribute harvested rewards.

• Allocates funds evenly across registered DeFi protocols.

Key Features:

• Epoch-based harvesting: Harvests and distributes yields to users periodically (every epoch).

• Time-weighted rewards: Ensures fair yield distribution based on how long funds were deposited during each epoch.

• Protocol flexibility: Dynamically adds/removes underlying protocols and redistributes funds accordingly.

Main Functionalities:

• deposit: Users deposit assets into the vault, automatically allocated to registered protocols.

• withdraw: Users withdraw assets, applying fees if withdrawn prematurely within the same epoch.

• checkAndHarvest: Periodically harvests yields from all active protocols, distributing earnings based on users' time-weighted shares.

Important Accounting Details:

• Tracks individual user deposits, balances, and entry times.

• Maintains total user and adapter balances, ensuring accuracy in rewards and withdrawals.

• Manages early withdrawal fees, converting these fees into additional rewards for long-term users.

Interfaces (IRegistry.sol, IVault.sol)

• IRegistry Interface: Standardizes registry functionalities for protocol and adapter management, allowing consistency across implementations.

• IVault Interface: Defines essential vault functions such as deposits, withdrawals, yield harvesting, and user balance tracking, ensuring consistent behavior across implementations.