Symbiotic Protocol is an extremely flexible and permissionless shared security system.

This repository contains Symbiotic Rewards V2 smart contracts.

Overview

3 singleton-style smart contracts per chain with Symbiotic Core contracts

• Rewards - a single rewards contract to, currently, combine 2 types of rewards:

  • Vault Snapshot Rewards

    • It provides a reward distribution using an on-chain state. Hence, it doesn’t require any off-chain part to exist, which can be useful for purely on-chain protocols.
    • However, it doesn’t provide the "cumulative" characteristic for rewards. Also, its distribution process needs a separate distribution call for each vault.
    • It uses a snapshot timestamp to retrieve the necessary data for the distribution (deposits, fees, etc.).

  • Cumulative Merkle Rewards

    • It works using Merkle Trees, which allow for various complex schemas of reward distribution while enabling the distribution of rewards across all vaults, operators, and other entities in a single, low-cost transaction. Additionally, it allows for cumulative rewards, meaning that claim costs will remain low and near constant, regardless of the number of distributions.
    • Due to the need for Merkle Trees construction, it needs an off-chain party to process it

• CuratorRegistry - a registry to map vaults to their curators (fee receivers)

  • Initially, only the vault’s owner can set a curator
  • Once set, only the curator can set another curator for the vault instead of him

• FeeRegistry - fee registry for operators and curators

  • Curators are responsible for setting fee percentages for themselves for each vault
    • Also, it is possible to set the curator fee percentage applied depending on the distributing network
  • Curators are responsible for setting fee percentages for all operators (e.g., 5% for all operators) for each vault (later, during rewards distribution, the fees are split between operators pro rata according to their contribution shares)
    • Also, it is possible to set the operators’ fee percentages applied depending on the distributing network
  • Initially, all fees are set to zero, so manual configuration is needed for each vault

Documentation

• What are Rewards?
• How to distribute? (for Networks)
• How to claim? (for Operators)
• How to configure and claim fees? (for Curators)

Usage

Dependencies

• Git (installation)
• Foundry (installation)

Prerequisites

Clone the repository

git clone --recurse-submodules https://github.com/symbioticfi/rewards-v2.git

Build, Test, and Format

forge build
forge test
forge fmt

Configure environment

Create .env based on the template:

ETH_RPC_URL=
ETHERSCAN_API_KEY=

Security

Security audits are aggregated in ./audits.