Convex 3Crv Vaults

ERC-4626 vaults that deposits Curve 3Pool LP tokens (3Crv) in a Curve 3Pool-based Metapool, eg musd3Crv; deposits the Metapool LP token in a Convex pool; and stakes the Convex LP token, eg cvxmusd3Crv, for CRV and CVX rewards.

The Convex rewards are swapped for a Curve 3Pool token, eg DAI, USDC or USDT, using the Liquidator module and donated back to the vault. On donation back to the vault, the DAI, USDC or USDT is deposited into the underlying Curve Metapool; the Curve Metapool LP token is deposited into the corresponding Convex pool and the Convex LP token staked.

Capabilities

• ERC-4626 compliant tokenized vault.

• ERC-20 compliant token.

• Invests 3Crv assets in a Curve Metapool and LP token staked in Convex for boosted returns.

• Sandwich attack protection on ERC4626 operations deposit, mint, withdraw and redeem.

• Liquidation of Convex rewards like CRV and CVX for more reinvested 3Crv assets.

• Front-running protection against liquidation of rewards by streaming the increase in assets per share.

• Fee charged on liquidated Convex rewards.

• Vault operations are pausable by the Governor.

• Emergency asset recovery by the Governor. This will be removed after 2 months.

• Vault configuration is controlled by a protocol Governor. This includes:

  • Setting the slippage limits for mint, deposit, redeem and withdraw.

  • Setting the account that receives the liquidation fee.

• Initially the Governor can upgrade the contracts via a proxy without a time delay. After 6 weeks, this will be changed to a one week time delay.

Contract Interface

See mStable's metavaults github repository for contract diagrams and process diagrams.

See General ERC-4626 Vault Interface for the standard ERC-4626 functions.

Variables

ASSET_SCALE

uint256 ASSET_SCALE

3CRV token scale

VIRTUAL_PRICE_SCALE

uint256 VIRTUAL_PRICE_SCALE

metapool

address metapool

Curve.fi pool the 3Crv asset is deposited into. eg musd3CRV, MIM-3LP3CRV-f or usdp3CRV.

metapoolToken

address metapoolToken

Curve.fi Metapool liquidity provider token. eg Curve.fi MUSD/3Crv (musd3CRV)

metapoolTokenScale

uint256 metapoolTokenScale

Scale of the metapool liquidity provider token. eg 1e18 if 18 decimal places.

basePool

address basePool

Curve's 3Pool used as a base pool by the Curve metapools.

booster

contract IConvexBooster booster

Convex's Booster contract that contains the Curve.fi LP pools.

convexPoolId

uint256 convexPoolId

Convex's pool identifier. eg 14 for the musd3CRV pool.

baseRewardPool

contract IConvexRewardsPool baseRewardPool

Convex's base rewards contract for staking Convex's LP token. eg staking cvxmusd3CRV

DAI

address DAI

USDC

address USDC

USDT

address USDT

redeemSlippage

uint256 redeemSlippage

Redeem slippage in basis points i.e. 1% = 100

depositSlippage

uint256 depositSlippage

Deposit slippage in basis points i.e. 1% = 100

withdrawSlippage

uint256 withdrawSlippage

Withdraw slippage in basis points i.e. 1% = 100

mintSlippage

uint256 mintSlippage

Mint slippage in basis points i.e. 1% = 100

Functions

liquidateVault

function liquidateVault(uint256 minAssets) external

Governor liquidates all the vault's assets and send to the governor. Only to be used in an emergency. eg whitehat protection against a hack.

Parameters

Name	Type	Description
minAssets	uint256	Minimum amount of asset tokens to receive from removing liquidity from the Curve 3Pool. This provides sandwich attack protection.

resetAllowances

function resetAllowances() external

Approves Curve's 3Pool contract to transfer assets (DAI, USDC or USDT) from this vault. Also approves the underlying Meta Vault to transfer 3Crv from this vault.

setDonateToken

function setDonateToken(address __donateToken) external

Vault manager or governor sets the token the rewards are swapped for and donated back to the vault.

Parameters

Name	Type	Description
__donateToken	address	a token in the 3Pool (DAI, USDC or USDT).

setRedeemSlippage

function setRedeemSlippage(uint256 _slippage) external

Governor function to set redeem slippage.

Parameters

Name	Type	Description
_slippage	uint256	Redeem slippage to apply as basis points i.e. 1% = 100

setDepositSlippage

function setDepositSlippage(uint256 _slippage) external

Governor function to set deposit slippage.

Parameters

Name	Type	Description
_slippage	uint256	Deposit slippage to apply as basis points i.e. 1% = 100

setWithdrawSlippage

function setWithdrawSlippage(uint256 _slippage) external

Governor function to set withdraw slippage.

Parameters

Name	Type	Description
_slippage	uint256	Withdraw slippage to apply as basis points i.e. 1% = 100

setMintSlippage

function setMintSlippage(uint256 _slippage) external

Governor function to set mint slippage.

Parameters

Name	Type	Description
_slippage	uint256	Mint slippage to apply as basis points i.e. 1% = 100