The ERC20 contract for the SVY token. Provides utility and governance for the Savvy Protocol. Check out Tokenomics and Governance for more information.
svTokens are synthetic DeFi primitives that are interchangeable representations of a claim on the deposited collateral. The svTokens play a critical role in the Savvy protocol by making it possible to eliminate liquidation. The ERC20 contract for our synthetic tokens (aka svTokens). An instance is deployed for every supported unit of account:
Manages our Liquidity Generation Event (LGE), the first phase of the Savvy Fair Launch. During the LGE sale, users buy allotments by depositing USDC. They can boost their allotment purchase by selecting a longer vest option and a redlisted NFT. After the LGE sale ends, users claim SVY tokens in a linear vest based on their ownership percentage of the total allotment distribution.
The external-facing contract of the Savvy CDP that coordinates between users and the Yield Strategy Manager. Handles user actions to deposit, withdraw, borrow, and repay. Tracks user data such as debt balance and yield strategy deposits. Sends harvested yield to the Savvy Swap and the Savvy Treasury and reduces user debt balances. An instance of the contract is deployed for every supported svToken.
The internal-facing contract of the Savvy CDP that coordinates between the Savvy Position Manager and external yield strategies via Savvy Adapters. Maintains paramater configurations for base tokens and yield tokens. Deposits collateral into external strategies and harvests yield from them. Manages borrow and repay limiters for each base token as a safety measure to ensure protocol stability. An instance of the contract is deployed for every supported svToken.
Users can easily switch external yield strategies without unwinding their Savvy CDP as long as the base token of the new strategy is the same.
In order to deposit native AVAX tokens in the Savvy Position Manager, users must first convert them into ERC20 WAVAX using this contract.
Manages the set of redlisted NFT contracts. When activated, this contract checks if the user owns a redlisted NFT before allowing deposits in the Savvy Position Manager.
Custom adapters to interoperate with third-party protocols that generate yield for the Savvy CDPs. Deposit in and withdraw from external yield strategies by wrapping base tokens into shares of yield tokens and vice versa. An instance of the contract is deployed for every supported DeFi partner. Not required for yield tokens that adopt the ERC4626 standard.
Exchanges svTokens for base tokens at a guaranteed but non-instantaneous 1-to-1 redemption, essentially serving as a pegging mechanism. Users deposit svTokens and gradually claim the corresponding amount of base tokens until their entire balance is converted. Determines the rate of user token exchange by using a base token buffer and considering the order of swap requests. The buffer is managed by the Savvy Sage and supplied with incoming yield from the Savvy Position Manager. An instance of the contract is deployed for every supported base token.
Acts as an Automated Market Operator to rebalance the Savvy Stable Pools by making single-side deposits and withdrawals of svTokens and base tokens using yield from the Savvy Position Manager. Manages liquidity and the exchange rate of svTokens to base tokens for the Savvy Swaps based on the flow rate. An instance of the contract is deployed for every supported svToken.
The ERC20 contract for the soulbound veSVY token. Users stake SVY tokens in this contract and then continuously claim veSVY tokens that are accrued over an exponential growth curve until the max cap is reached; a longer SVY stake means a greater veSVY earning rate. If a user unstakes their SVY tokens from this contract, the entire veSVY balance in their wallet is burned.
The Boosting Pool operates differently than the Base SVY Pool because its liquidity emission depends on staking SVY tokens. To mine SVY tokens in the Boosting Pool, individuals must first stake SVY tokens to begin receiving veSVY. This staking requirement helps to counteract the negative effects of increased market supply by limiting the overall supply of SVY tokens in the market. Incentivizes borrowers who stake SVY long-term. Users claim additional SVY rewards based on their debt and veSVY balances in relation to the total debt and veSVY balances of the Savvy Protocol. The boost calculation is refreshed for users every time their debt or veSVY balances change.
Batches ready-only functions to aggregate information. Renders front-end interfaces with faster latency and less RPC burden.
Processes multi-call functions in fewer transactions. For instance, users can borrow available credit across all of their Savvy CDPs in a single action.
Utilizes Chainlink oracles to get real-time USD prices for supported tokens.