Basic Concepts

• Fleet: A set of contracts that manage user deposits and generate yield through various strategies.

• Vault: The user-facing component of a Fleet where users deposit tokens to earn yield.

• ARK: A contract that implements specific yield-generating strategies like lending or staking.

• Buffer ARK: A specialized ARK that holds liquid assets for quick, low-cost withdrawals.

• Fleet Commander: The central coordinator that manages deposits, withdrawals, and asset allocation across ARKs.

• RAFT: A contract that harvests and auctions reward tokens, converting them back to the Fleet's deposit token.

• Tips: 1% fee on Assets Under Management (AUM) distributed through share dilution.

• TipJar: System for distributing protocol fees to designated recipients through configurable streams.

• TipStreams: Individual recipient configurations in the TipJar with specific allocation rates and lock periods.

• Forced Withdrawal: Mechanism allowing users to withdraw directly from ARKs when Buffer ARK lacks sufficient balance.

• Rebalancing: Process of redistributing assets between ARKs to optimize yield and maintain buffer requirements.

• Keepers: Authorized entities that can trigger rebalancing and other maintenance operations.

• Share Price: Determined by total assets divided by total shares, with tips slightly diluting share value over time.

• Governance: System controlling protocol parameters, ARK approvals, and fee distribution.

• Admiral's Quarters: User interface contract enabling complex interactions with Fleets through batch operations.

• Minimum Buffer Balance: Required minimum amount of assets in Buffer ARK to ensure withdrawal availability.

• Deposit Cap: Maximum amount of assets a Fleet or ARK can accept.

• Active ARKs: ARKs approved by governance for use in a Fleet.

• Referral System: Optional mechanism for tracking user onboarding through referral codes.

• Rewards: Additional tokens earned through ARK strategies and converted by RAFT.

• Dutch Auctions: Mechanism used by RAFT to sell harvested rewards at optimal prices.

• Effective Deposit Cap: Dynamic cap for ARKs based on Fleet TVL and configuration.

• Voting Power: Governance rights determined by share ownership and delegation patterns.

• Decay Function: System reducing voting power over time to encourage active governance.