https://github.com/verumlotus/convex-curve-lp-vault

Vault that accepts Curve LP tokens & stakes them in Convex's system.
https://github.com/verumlotus/convex-curve-lp-vault

convex curve evm hardhat solidity

Last synced: 8 days ago
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Vault that accepts Curve LP tokens & stakes them in Convex's system.

• Host: GitHub
• URL: https://github.com/verumlotus/convex-curve-lp-vault
• Owner: verumlotus
• License: apache-2.0
• Created: 2022-03-25T18:59:59.000Z (almost 3 years ago)
• Default Branch: main
• Last Pushed: 2022-03-25T19:36:26.000Z (almost 3 years ago)
• Last Synced: 2024-12-21T12:35:00.398Z (20 days ago)
• Topics: convex, curve, evm, hardhat, solidity
• Language: Solidity
• Homepage:
• Size: 1.13 MB
• Stars: 10
• Watchers: 2
• Forks: 0
• Open Issues: 0
• Metadata Files:
  • Readme: README.md
  • License: LICENSE

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README

        
# Convex Curve LP Vault

Vault for depositing Curve LP tokens that will harvest rewards leveraging Convex's system. 

## Background

Convex has cornered the market in the context of the Curve Wars. Thus, to maximize yield on a Curve LP position, the best option is to leverage Convex's system and deposit LP tokens in their ecosystem. This allows Curve LP token holders to earn CRV & CVX emissions, along with other emissions protocols may choose to give LPs. This vault accepts Curve LP tokens, deposits them in Convex's Booster contract, & stakes them in the Convex Reward pool. Keepers are authorized by the contract owner to call the `harvest()` function to collect token emissions. They are incentivized with a configurable `keeperFee` which represents a percentage of the reward tokens. A diagram is provided below to help understand the flow.



## User flow

- User can call `deposit` to deposit the Curve LP token & receive shares from the vault.

- User can call `withdraw` at any time to burn shares & receive an appropriate amount of LP tokens from the vault.

## Management Flow

- The owner can set authorized addresses via `authorize`. Authorized addresses can perform important functions such as setting Uniswap V3 swap paths. 

- An authorized harvester can call the `harvest()` function when profitable to collect rewards. They receive a percentage of rewards (set by `keeperFee`) in the form of underlying LP tokens.

## Build & Testing

This repo uses hardhat as the build & testing framework. Additionally, it also utilizes some contracts from balancer-v2, which can be downloaded via running the shell script located at `scripts/load-balancer-contracts.sh`. Run `npm run build` to build the repo & `npm run test` to run the test suite. The tests fork from mainnet via alchemy, and thus an alchemy api key must be exposed via an environment variable of the name `ALCHEMY_KEY`. A `.env.example` file is provided as an example. 

## Improvements

Curve has an idiosyncratic design, and the interfaces for contracts are not identical. Thus, a small part of the logic in this vault is specific to the LUSD-3CRV pool. Notably, the `add_liquidity` function differs slightly for different Curve pools. However, only a few lines would need to be changed to support other Curve LP tokens. In the future, a standard interface to all Curve pools could be designed to make this more extensible. 

## Disclaimer

These contracts were written in mind for Element Finance as a new yield source. A PR will be opened in the Element Finance repo, and will undergo review by Element Finance core members before being merged & deployed. Any changes there are not guaranteed to be updated here. The contracts in this repo as they are now should not be deployed to production without more thorough review.