Vaults

CapyFi offers tokenized yield-bearing vaults that abstract complex strategies behind a single ERC-20 share token. Vault shares accrue yield through an oracle-driven exchange rate.

Introduction

What CapyFi vaults are

A CapyFi vault is composed of three on-chain contracts: the Vault itself, a Yield Oracle that reports yield/loss to update the share price, and one or more Strategies that put underlying assets to productive use.

Users deposit an underlying asset and receive vault share tokens. As yield is reported, the share-to-underlying exchange rate increases. When users redeem, they burn shares and receive underlying assets back.

stBTC

stBTC Vault

Off-chain BTC yield vault

The stBTC vault accepts WBTC deposits and mints stBTC vault shares. WBTC is routed to off-chain BTC yield strategies; an off-chain operator periodically reports yield through the Yield Oracle, which lifts stBTC's exchange rate against WBTC.

Underlying

WBTC (8 decimals)

Share Token

stBTC (8 decimals)

Network

Ethereum (Chain ID 1)

Vault Type

OffchainBtcVault

ARCH

Vault Architecture

Component diagram

Vault contract: holds total managed assets, mints/burns shares, exposes paused, availableBalance and totalManagedAssets.
Yield Oracle: receives off-chain yield/loss reports from operators with the OPERATIONS_ROLE and updates the vault accounting accordingly.
Strategy: a per-strategy address registered against the oracle. Each strategy has a configured apyBps ceiling that bounds reportable yield.

VAULT

Vault Interface

Read-only methods

totalManagedAssets()

function totalManagedAssets() view returns (uint256)

Total underlying assets currently managed by the vault, including off-chain positions.

availableBalance()

function availableBalance() view returns (uint256)

On-chain balance available for immediate redemptions.

paused()

function paused() view returns (bool)

Whether deposits and redemptions are currently paused.

YIELD

Yield Oracle

APY-bounded yield reporting

The Yield Oracle is the trusted entry point for reporting yield and loss to a vault. Each strategy has its own configured apyBps, capped between protocol-wide minApyBps and maxApyBps bounds.

Key methods

function setStrategyApy(address strategy, uint256 apyBps)

function disableStrategy(address strategy)

function reportYield(address strategy) returns (uint256)

function reportLoss(address strategy, uint256 loss)

function getPendingYield(address strategy) view returns (uint256)

function strategyApyBps(address strategy) view returns (uint256)

function lastReportAt(address strategy) view returns (uint256)

function minReportInterval() view returns (uint256)

function totalYieldReported() view returns (uint256)

function totalLossReported() view returns (uint256)

function vault() view returns (address)

Reporting is gated by OPERATIONS_ROLE on AccessControl. Yield reports beyond the strategy's APY cap are clamped to the maximum permitted accrual since lastReportAt.

STRAT

Strategy

Per-strategy yield source

Strategies represent distinct yield sources for a vault. The stBTC vault uses an off-chain BTC strategy; the strategy contract is the registered identity inside the Yield Oracle that operators target when calling reportYield or reportLoss.

ADDR

Deployed Addresses

stBTC Vault stack on Ethereum

Vault (OffchainBtcVault):0x6cbe98Eb2CdF0bc2E52A9b3ed014cd1740A4B30C

stBTC Token:0xb40dC920dfc7BD7d68322a0E1b8A05557AdbeC54

Yield Oracle:0x331e42aE8678A0c1BEB4cfC80FfF5A884d0877b2

Strategy:0xbAD529586bBDb37D975184fa57805809bb205c70

The stBTC vault is currently only deployed on Ethereum.

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