Lazy Vaults

Lazy Vaults (also called Fleets) are the primary user-facing component of the Summer Protocol. Each Lazy Vault represents a Fleet - a set of coordinated contracts that include a Fleet Commander, ARKs, and RAFT.

A Fleet exists for each deposit token type (DAI, USDC, ETH) and multiple Fleets may exist per token to accommodate different risk preferences. Every Fleet is supported by the RAFT contract which farms reward tokens and swaps farmed tokens to the underlying Fleet deposit token - boosting Fleet yields at no cost to the user.

At launch, Fleet ARKs support basic lending and staking positions. Over time, advanced ARKs will be introduced to Fleets (subject to governance approval). A concrete example would be an ARK that supports the underlying yield-looping stack that is already available on Summer.fi today.

Key Components

Fleet Commander

Controls asset allocation and manages user deposits/withdrawals. Issues shares to depositors representing their ownership of the vault's assets.

ARKs

Specialized contracts that implement yield strategies through lending, staking, and other DeFi mechanisms. Each Fleet has multiple ARKs plus a Buffer ARK holding token for quick withdrawals.

RAFT

Automatically harvests rewards from protocols, converts them to the vault's deposit token, and reinvests them to compound yields.