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Summer.fiContact us
  • Summer.fi
    • Overview
    • Basic Concepts
    • Audits
  • Lazy Summer Protocol
    • Lazy Summer Protocol
      • ARKs
        • Buffer ARK
        • RAFT
          • Dutch Auctions
      • Fees
      • Contracts Addresses
    • Rebalancer
    • Governance
      • Cross-Chain Governance
      • Rewards
      • Tip Streams
      • $SUMR Token
        • Delegation
        • Voting Power Decay
  • Summer.fi pro
    • General
      • Smart Contracts and Documentation
      • Costs and Fees
      • Address Compliance Check
      • Security
      • Referrals Program
        • FAQ
        • How to refer a friend
    • Products
      • Borrow
        • Frequently Asked Questions
      • Multiply
        • The difference between Borrow and Multiply Vaults
        • Frequently Asked Questions
      • Swap and Bridge
      • Earn
        • Aave v2 stETH
        • Aave v3 stETH
        • Dai Savings Rate (DSR)
          • sDAI
          • What is sDAI Conversion?
      • $RAYS
        • FAQ
    • Automation
      • Stop-Loss
        • How to setup your Stop-Loss
        • Trailing Stop-Loss
      • Auto-Buy
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      • Take Profit
        • Auto Take Profit
          • How to setup Auto Take Profit
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Oazo Apps 2023

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  1. Summer.fi

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.

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Last updated 3 months ago

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