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acSaving
acSaving is ACoconut's saving product for various ERC20 BTC-related asset.

Introduction

.acSaving is ACoconut's saving product for various ERC20-related assets, which includes:
  • ERC20 BTC, e.g. WBTC, renBTC, HBTC,
  • ERC20 BTC LP, e.g. renCrv, hbtcCrv, erc.
By depositing ERC20-related assets into acSaving, users can earn yield in principle as well as rewards in ACoconut token.

Architecture

Similar to Yearn's vaults, acSaving consists of three components: Vaults, Strategy and Controller.
acSaving Architecture

Vaults

Vaults are capital pools that seeks highest yields from the DeFi market. Each vault manages exactly one ERC20 token, which means:
  • Each vault accepts deposit of a single type of ERC20 token;
  • Users can only withdraw that ERC20 token from the vault, which means all assets hold by the vault will eventually be converted into that ERC20 token.

Strategy

Strategies represent how assets in vaults are vested in order to gain yield. The relationship between vaults and strategies are as following:
  • A strategy is bound to a specific vault;
  • A vault can have multiple candidate strategies, but at most one strategy is active at a time;
  • A strategy might hold multiple tokens, but they are eventually converted into the token that the vault expects.

Controller

Controller is the central component that provides common functionalities to vaults, including:
  • Defining common parameters, e.g. treasury, reward token, etc;
  • Managing the list of vaults with unique vault ID;
  • Providing AC as liquidity mining rewards to vaults.

Roles

There are three roles in acSavings: users, governance and strategist.

User

Users can deposit and withdraw asset into vaults. They only interact with vaults, and thus only care about the asset that each vault expect.

Governance

Governance has the central power in acSaving. It's defined in Controller and shared by its underlying vaults and strategies. Governance can perform critical operations, which includes:
  • Set critical parameters, e.g. strategy performance fee and withdrawal fee;
  • Add new vaults to Controller;
  • Add AC rewards to vaults as liquidity mining rewards.

Strategist

Strategists are defined in Vaults and shared by its underlying strategies, which means each vault can have its own strategist. Strategists perform permissioned daily operations, such as:
  • Invest idle assets in vaults into strategies;
  • Harvest from strategies and reinvest.
Last modified 11mo ago