Smart Contracts

Deployed Addresses (SEI Mainnet)

USDC Vault

Contract	Address
KanaVault	0x1B85248a30C0A61DD52933C17c989d1B9aFDf98e
USDCStrategy	0xdD02a58a3515e78691260Ee3ed0ca87a540A8Dc2
USDC	0xe15fC38F6D8c56aF07bbCBe3BAf5708A2Bf42392
Takara cUSDC	0xd1E6a6F58A29F64ab2365947ACb53EfEB6Cc05e0
Network	SEI mainnet (chain ID 1329)

WSEI Vault

Contract	Address
SEIVault	TBD
SEIStrategy	TBD
WSEI	TBD
Takara cWSEI	TBD
Feather vault	TBD
Network	SEI mainnet (chain ID 1329)

KanaVault

The core vault contract implementing the ERC-4626 tokenized vault standard.

SEIVault

SEIVault is functionally identical to KanaVault — the same contract instantiated with WSEI as the underlying asset and kSEI as the share token. All functions, access control, and behavior described below apply equally to SEIVault.

Key Functions

Function	Description
deposit(uint256 assets, address receiver)	Deposit underlying asset, receive vault shares
withdraw(uint256 assets, address receiver, address owner)	Burn vault shares, receive underlying asset
redeem(uint256 shares, address receiver, address owner)	Burn exact shares, receive underlying asset
totalAssets()	Total underlying asset managed (idle + deployed)
setStrategy(IStrategy newStrategy)	Migrate to a new strategy (owner only)
harvest(uint256[] calldata minAmountsOut)	Claim and compound yield with slippage protection
setKeeper(address keeper)	Set keeper address (owner only)
revokeKeeper()	Revoke keeper access (owner only)
setGuardian(address guardian)	Set guardian address (owner only)
pause()	Pause all operations (guardian or owner)
unpause()	Unpause operations (owner only)
setFeeRecipient(address recipient)	Update fee recipient (owner only, only if not locked)
lockFeeRecipient()	Permanently lock fee recipient (owner only, irreversible)

Share Accounting

shares = deposit_amount × total_shares / total_assets
assets = shares × total_assets / total_shares

As yield accrues, totalAssets() increases while totalShares stays constant, making each share worth more over time.

Virtual Share Offset

The vault uses a decimalsOffset of 6 (1e6 virtual shares/assets) to prevent inflation attacks where an attacker could donate assets to manipulate share prices and steal from subsequent depositors. This is an OpenZeppelin recommended pattern for ERC-4626 vaults.

Performance Fee

The vault charges a 10% performance fee (1000 basis points) on harvested yield. This fee is immutable and cannot be changed. When harvest is called, 10% of the profit is minted as additional vault shares to the fee recipient.

Withdrawal Handling

The vault handles protocol rounding in withdrawals by adjusting the withdrawal amount to the actual balance available. If a protocol returns slightly less than requested (due to rounding), the vault transfers the actual amount rather than reverting.

Access Control

Role	Permissions
Owner	Set strategy, set keeper, set guardian, set fee recipient (if not locked), pause/unpause
Keeper	Trigger harvest
Guardian	Pause in emergencies
Strategy	Report yield, request funds
Anyone	Deposit, withdraw, view balances

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IStrategy Interface

The interface that all strategies must implement:

interface IStrategy {
    function deposit(uint256 amount) external;
    function withdraw(uint256 amount) external returns (uint256);
    function harvest() external returns (uint256);
    function balanceOf() external view returns (uint256);
    function asset() external view returns (address);
}

Function	Description
deposit(uint256)	Receive underlying asset from vault, deploy to protocols
withdraw(uint256)	Pull underlying asset from protocols, return to vault
harvest()	Claim rewards, compound yield (interface compatibility, no slippage protection)
balanceOf()	Total underlying asset value across all positions
asset()	The managed asset address (USDC for USDCStrategy, WSEI for SEIStrategy)

Note: The strategy also implements an overloaded harvest(uint256[] calldata minAmountsOut) function for slippage protection, but this is not part of the base IStrategy interface.

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USDCStrategy

The multi-protocol strategy for the USDC vault with dynamic yield sources and dynamic DEX router registry.

Yield sources: Yei Finance (Aave V3), Takara (Compound), Morpho (P2P).

Dynamic Yield Sources

Unlike previous versions with hardcoded protocol allocations, the v3 strategy uses a dynamic yield sources system that supports up to 10 protocols:

Function	Description
addYieldSource(...)	Add a new yield source (owner only)
removeYieldSource(uint256 index)	Remove a yield source (owner only)
updateYieldSourceSplit(uint256 index, uint256 newSplit)	Update allocation split for a source (owner only)
enableYieldSource(uint256 index, bool enabled)	Enable/disable a yield source (owner only)

Maximum yield sources: 10 (MAX_YIELD_SOURCES)

Split management:

• Allocations are set in basis points (total must equal 10,000)
• Example: [4000, 3500, 2500] = 40% / 35% / 25%
• Split changes have a 1-hour cooldown to prevent excessive rebalancing

Dynamic DEX Router Registry

The strategy maintains a registry of DEX routers for reward token swaps:

Function	Description
addRouter(address, RouterType, string label)	Add a new DEX router (owner only)
removeRouter(uint256 index)	Remove a router (owner only)
setActiveRouterIndex(uint256 index)	Switch active router (owner only)

Supported router types:

• V2: Uniswap V2-style routers (e.g., DragonSwap)
• V3: Uniswap V3-style routers (e.g., Sailor)

Deposit Logic

On deposit, USDC is split according to current allocation weights and supplied to each enabled protocol.

Withdrawal Logic

On withdrawal, funds are pulled proportionally from all enabled protocols:

withdrawal_from_source = amount × source_balance / total_balance

The strategy handles Compound rounding by transferring the minimum of the requested amount and the actual balance available after withdrawal.

Harvest

The recommended harvest function includes slippage protection:

function harvest(
    uint256[] calldata minAmountsOut   // Min USDC from each yield source's reward swaps
) external returns (uint256 profit);

Harvest flow:

1. Claims rewards from all enabled yield sources
2. Swaps non-USDC rewards to USDC via the active DEX router with slippage protection
3. Reports total yield to vault (vault takes 10% performance fee)
4. Redeposits compounded USDC across protocols

Slippage protection: If the actual swap output is less than the specified minAmountOut for any source, the transaction reverts.

Array length: The minAmountsOut array must have exactly the same length as the number of yield sources.

Rebalance

function rebalance() external;

Withdraws all funds from protocols and redeploys according to current splits. Subject to a 1-hour cooldown.

Security Features

Feature	Description
ReentrancyGuard	All state-changing functions protected
Pausable	Guardian can pause in emergencies
Guardian role	Can pause but not withdraw funds
Slippage cap	Maximum 10% slippage (MAX_SLIPPAGE_CEILING)
Rebalance cooldown	1 hour minimum between rebalances
Splits cooldown	1 hour minimum between split changes
Max yield sources	Cap of 10 protocols

Emergency Functions

rescueToken: Recover stuck tokens (owner only)

function rescueToken(address token, uint256 amount) external onlyOwner;

For the vault's underlying asset, can only recover loose tokens not deployed to protocols.

Access Control

Role	Permissions
Owner	Full admin control: manage yield sources, routers, splits, pause/unpause, rescue tokens
Keeper	Trigger harvest, rebalance, claim rewards
Guardian	Pause in emergencies
Vault	Deposit, withdraw

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SEIStrategy

The multi-protocol strategy for the WSEI vault. Functionally identical to USDCStrategy — same architecture, same functions, same security features — but configured with WSEI as the underlying asset and Feather (MetaMorpho ERC-4626 vault) as the third yield source instead of Morpho P2P.

Yield sources: Yei Finance (Aave V3), Takara (Compound), Feather (MetaMorpho ERC-4626).

Feather Integration

Unlike Morpho P2P which uses direct lending pool interaction, Feather is itself an ERC-4626 vault. The strategy deposits WSEI into Feather and receives Feather vault shares. Yield is earned through share value appreciation rather than P2P matching or reward tokens.

Because Feather is ERC-4626, the harvest step for the Feather yield source may not need a reward swap — yield is already denominated in WSEI (via share appreciation). The minAmountsOut entry for the Feather source will typically be 0 unless Feather emits separate reward tokens.

All other SEIStrategy functions, access control, and security features are identical to USDCStrategy.