AmuVaults
Where fast versatile shipping meets precise secure tech.
Overview
Amulet V2's yield-generating strategies are powered by AmuVaults which essentially comprises of ERC-4626 vaults supported by a vault manager, each designed and developed to carry out their specific tasks securely and with maximum efficiency.
ERC-4626 Standard
AmuVaults are smart contracts built according to the ERC-4626 standard for faster development, and better security. Users may deposit their assets, such as cryptocurrencies or tokens, in an AmuVault which will in turn deposit said assets on behalf of its users into DeFi projects to earn yield. The resulting yields, which can take various forms, including additional tokens or interest, are reinvested to compound returns until they are withdrawn by users. Users are issued shares by the AmuVault which represent a claim on both their deposited assets and yield earned. You may refer to the list of AmuVault smart contract addresses here.
Core benefits of using AmuVault:
Standardized vaults make for easier integration with top DeFi projects for the best yield-generating strategies.
Reduces cost and enables faster shipping of new products for builders with its simplified code base and robust default security, thereby enabling builders to avoid long audit wait times and high audit fees.
Enhances security for users by storing their tokens in more secure and hack-resistant smart contracts, and reducing the risk of mistakes, bugs or exploits from integrations among dApps and yield aggregators with a standardized code base.
Shares issued by AmuVaults to users are tradeable, thereby increasing the liquidity of their AmuVault holdings. This makes it easier for users to convert their shares into other crypto assets and vice versa.
Vault Manager
Amulet V2's architectural framework is centered around ERC-4626 standard AmuVaults and a dedicated vault manager, implemented as smaller individual smart contracts for enhanced code readability, ease of development, and to facilitate thorough security auditing and overall security in general. This strategic and logical separation of distinct functionalities into discrete smart contracts is a critical technical decision, driven by the recognition that different operations can be more efficiently and safely executed through specialized modules. Consequently, AmuVaults encapsulate core functionalities related to deposits, storage, and withdrawals, while the vault manager independently manages yield auto-compounding and distribution which share similar characteristics.
Fun fact: Smaller and separate smart contracts are also the result of size limits imposed by the network as it not only serves as a means to encourage developers to adopt sound architectural practices, but also to mitigate potential denial-of-service ("DOS") attacks on the network. These size constraints pose a deployment challenge, as the addition of more functionalities to a contract increases the likelihood of reaching the size limit, rendering the smart contract undeployable. Notably, the impact of a contract call on the network's hardware is disproportionately influenced by the size of the called contract code, including reading the code from the disk, pre-processing the code, and adding data to the Merkle proof. In any situation where an attack would only require few resources to cause a lot of work for others, you get the potential for DOS attacks which would halt the entire network.
AmuVault Addresses
Shares are issued to users in their wallets upon deposit to claim their assets and yield later from our AmuVaults. E.g. Users receive a-wstETH for depositing ETH, wstETH or stETH in Amulet's wstETH AmuVault. To withdraw their deposits, users must submit their a-wstETH at the wstETH AmuVault.
Below is a list of AmuVaults and their corresponding deposits, pools, and addresses.
Ethereum Chain
| AmuVault | Pools | Deposits | AmuVault Address |
|---|---|---|---|
wstETH | Lido Finance - Liquid Ethereum Staking | ||
FRAX+crvUSD | Convex Finance - Curve LP Staking | ||
USDT+crvUSD | Convex Finance - Curve LP Staking | ||
USDC+crvUSD | Convex Finance - Curve LP Staking | ||
ETH+stETH | Convex Finance - Curve LP Staking | ||
Idle USDT Junior Tranche | Idle Finance - USDT (Fasanara) | ||
Idle USDT Senior Tranche | Idle Finance - USDT (Fasanara) | ||
Idle USDC Junior Tranche | Idle Finance - USDC (Fasanara) | ||
Idle USDC Senior Tranche | Idle Finance - USDC (Fasanara) |
Polygon-zkEVM Chain
| AmuVault | Pools | Deposits | AmuVault Address |
|---|---|---|---|
Idle USDT Junior Tranche | Idle Finance - USDT (Portofino) | ||
Idle USDT Senior Tranche | Idle Finance - USDT (Portofino) |
Optimism Chain
| AmuVault | Pools | Deposits | AmuVault Address |
|---|---|---|---|
Idle USDC Junior Tranche | Idle Finance - USDC (WINCENT) | ||
Idle USDC Senior Tranche | Idle Finance - USDC (WINCENT) | ||
Idle USDT Junior Tranche | Idle Finance - USDT (Fasanara) | ||
Idle USDT Senior Tranche | Idle Finance - USDT (Fasanara) | ||
Idle USDT Junior Tranche | Idle Finance - USDT (Portofino) | ||
Idle USDT Senior Tranche | Idle Finance - USDT (Portofino) |
Solana Chain
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