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  • Overview
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    • Proof-of-Stake Blockchains
    • Liquid Staking
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  • The Kintsu Protocol
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    • Staking and Unstaking with Kintsu
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      • Core Smart Contracts
      • Smart Contract Functions
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On this page
  • The Vault Contract
  • Vault Functions
  • Vault Contract Variables
  • The Registry Contract
  • Registry Contract Variables
  • The Share Token Contract
  1. The Kintsu Protocol
  2. Architecture

Core Smart Contracts

These are the core contracts that make up the protocol along with their uses and functions.

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Last updated 4 months ago

The Vault Contract

The Vault contract sits at the heart of the Kinstu Liquid Staking process. This contract is the user-facing entry point to the Kintsu Protocol, and serves a number of functions:

  1. User entry point: The Vault is the user-facing interface to the protocol. Users who want to participate in staking yield can deposit MON to the Vault contract and receive sMON tokens in return. Users can also request to redeem their sMON for staked MON along with their pro-rata share of the yield accrued by the protocol.

  2. Orchestrates staking delegation & redemption: The Vault delegates staking tokens to, and interfaces with, , according to the stored in the contract. This is done using Kintsu's .

  3. Calculates Protocol Fees: The Vault calculates and stores used to facilitate protocol Management Fees. For more information, see the docs on Governance & Management Fees.

Vault Functions

The Vault contract contains the and .

Vault Contract Variables

The Vault keeps track of a number of metrics. These include:

  1. Total Pooled: The total of all MON staked via the protocol.

  2. Total Shares: Denotes the total outstanding supply of sMON created by the Vault

  3. Virtual Shares: Denotes the Virtual Shares allocated for Management Fee.

  4. Fee Percentage: Denotes the protocol's annualized Management Fee.

Note: the Redemption Ratio is not stored as a variable, however theVault contract contains methods to calculate it in both directions (from sMON to MON, and vice versa).

The Registry Contract

Registry Contract Variables

Target Weights

These weights represent the target percentage of the total amount of staked MON allocated to each Validator. These target weights are meant to uphold decentralization of the protocol, and will be set by Governance in a decentralized way.

The Share Token Contract

The share_token contract is the core contract of the sMON token. It is a ERC-20 token contract.

The Registry smart contract maintains a list of that are actively participating in the Kintsu protocol, along with a set of Target Weights for allocation of staked MON to those Validators.

Virtual Shares
Target Weights
Registry
Staking Functions
Unstaking Functions
Constant Retargeting Algorithm
Validators
Validators