ApyUSD

Git Source

Inherits: Initializable, ERC20PermitUpgradeable, ERC20PausableUpgradeable, ERC20DenyListUpgradable, AccessManagedUpgradeable, UUPSUpgradeable, ERC4626Upgradeable, IApyUSD, EInvalidCaller

Title: ApyUSD

ERC4626 synchronous tokenized vault for staking ApxUSD

Deposits and withdrawals are synchronous. Withdrawals delegate unlocking delay to UnlockToken. Features:

Instant deposits/mints with deny list checking via AddressList
Instant redeems/withdrawals that deposit assets to UnlockToken and start redeem requests
UnlockToken handles the cooldown period and async claim flow
ERC4626 compatibility
Pausable and freezeable for compliance
UUPS upgradeable pattern

State Variables

FEE_PRECISION

Fee precision constant (100% = 1e18)

uint256 private constant FEE_PRECISION = 1e18

MAX_FEE

Maximum fee allowed (1%)

uint256 private constant MAX_FEE = 0.01e18

APYUSD_STORAGE_LOC

bytes32 private constant APYUSD_STORAGE_LOC = 0x1ff8d3deae3efb825bbaa861079c5ce537ca15be7f99d50a5b2800b88987f100

Functions

_getApyUSDStorage

function _getApyUSDStorage() private pure returns (ApyUSDStorage storage $);

constructor

Note: oz-upgrades-unsafe-allow: constructor

constructor() ;

initialize

Initializes the ApyUSD vault

UnlockToken must be set after deployment using setUnlockToken()

function initialize(
    string memory name,
    string memory symbol,
    address initialAuthority,
    address asset,
    address initialDenyList
) public initializer;

Parameters

Name	Type	Description
`name`	`string`
`symbol`	`string`
`initialAuthority`	`address`	Address of the AccessManager contract
`asset`	`address`	Address of the underlying asset (ApxUSD)
`initialDenyList`	`address`	Address of the AddressList contract for deny list checking

_authorizeUpgrade

Authorizes contract upgrades

Only callable through AccessManager with ADMIN role

function _authorizeUpgrade(address newImplementation) internal override restricted;

_update

Hook that is called before any token transfer

Enforces pause, freeze, and deny list functionality

function _update(address from, address to, uint256 value)
    internal
    override(ERC20Upgradeable, ERC20PausableUpgradeable, ERC20DenyListUpgradable);

decimals

Returns the number of decimals used for the token

Overrides both ERC20 and ERC4626 decimals

function decimals() public view override(ERC20Upgradeable, ERC4626Upgradeable) returns (uint8);

_decimalsOffset

Returns the decimals offset for inflation attack protection

Can be overridden to add virtual shares/assets

function _decimalsOffset() internal pure override returns (uint8);

totalAssets

Returns the total amount of assets managed by the vault

Overrides ERC4626 to include vested yield from vesting contract

function totalAssets() public view override returns (uint256);

Returns

Name	Type	Description
`<none>`	`uint256`	Total assets including vault balance and vested yield

previewWithdraw

Preview adding an exit fee on withdrawal

Overrides ERC4626 to account for unlocking fees

function previewWithdraw(uint256 assets) public view override returns (uint256);

Parameters

Name	Type	Description
`assets`	`uint256`	Amount of assets to withdraw (what user receives after fees)

Returns

Name	Type	Description
`<none>`	`uint256`	Amount of shares needed to withdraw the requested assets

previewRedeem

Preview taking an exit fee on redeem

Overrides ERC4626 to account for unlocking fees

function previewRedeem(uint256 shares) public view override returns (uint256);

Parameters

Name	Type	Description
`shares`	`uint256`	Amount of shares to redeem

Returns

Name	Type	Description
`<none>`	`uint256`	Amount of assets user will receive after fees are deducted

_deposit

Internal deposit/mint function with deny list checking

Overrides ERC4626 internal function to add deny list checks

function _deposit(address caller, address receiver, uint256 assets, uint256 shares)
    internal
    override
    checkNotDenied(caller)
    checkNotDenied(receiver);

Parameters

Name	Type	Description
`caller`	`address`	Address initiating the deposit
`receiver`	`address`	Address to receive the shares
`assets`	`uint256`	Amount of assets to deposit
`shares`	`uint256`	Amount of shares to mint

_withdraw

Internal withdraw function that deposits assets to UnlockToken and starts redeem request

Overrides ERC4626 to delegate unlocking delay to UnlockToken

Fees are deducted from user shares but only transferred to feeWallet if it is set. When feeWallet is address(0) or address(this), fees remain in the vault and accrue to depositors.

function _withdraw(address caller, address receiver, address owner, uint256 assets, uint256 shares)
    internal
    override
    checkNotDenied(caller)
    checkNotDenied(receiver)
    checkNotDenied(owner);

Parameters

Name	Type	Description
`caller`	`address`	Address initiating the withdrawal
`receiver`	`address`	Address to receive the UnlockToken shares
`owner`	`address`	Address that owns the shares
`assets`	`uint256`	Amount of assets to withdraw
`shares`	`uint256`	Amount of shares to burn

setDenyList

Sets the deny list contract

Only callable through AccessManager with ADMIN_ROLE

function setDenyList(IAddressList newDenyList) external restricted;

Parameters

Name	Type	Description
`newDenyList`	`IAddressList`	Address of the new AddressList contract

setUnlockToken

Sets the UnlockToken contract

Only callable through AccessManager with ADMIN_ROLE

No fund migration is performed - outstanding requests remain on old UnlockToken

function setUnlockToken(IUnlockToken newUnlockToken) external restricted;

Parameters

Name	Type	Description
`newUnlockToken`	`IUnlockToken`	The new UnlockToken contract

unlockToken

Returns the current UnlockToken contract address

function unlockToken() external view returns (address);

Returns

Name	Type	Description
`<none>`	`address`	Address of the UnlockToken contract

setVesting

Sets the Vesting contract

Only callable through AccessManager with ADMIN_ROLE

Setting to address(0) removes the vesting contract

function setVesting(IVesting newVesting) external restricted;

Parameters

Name	Type	Description
`newVesting`	`IVesting`	The new Vesting contract (can be address(0) to remove)

vesting

Returns the current Vesting contract address

function vesting() external view returns (address);

Returns

Name	Type	Description
`<none>`	`address`	Address of the Vesting contract

unlockingFee

Returns the current unlocking fee

function unlockingFee() public view returns (uint256);

Returns

Name	Type	Description
`<none>`	`uint256`	Fee as a percentage with 18 decimals (e.g., 0.01e18 = 1%, 1e18 = 100%)

setUnlockingFee

Sets the unlocking fee

Only callable through AccessManager with ADMIN_ROLE

function setUnlockingFee(uint256 fee) external restricted;

Parameters

Name	Type	Description
`fee`	`uint256`	Fee as a percentage with 18 decimals (e.g., 0.01e18 = 1%, 1e18 = 100%)

feeWallet

Returns the current fee wallet address

function feeWallet() public view returns (address);

Returns

Name	Type	Description
`<none>`	`address`	Address of the fee wallet

setFeeWallet

Sets the fee wallet address

Only callable through AccessManager with ADMIN_ROLE

When feeWallet is address(0) or address(this), fees remain in the vault and accrue to depositors

function setFeeWallet(address wallet) external restricted;

Parameters

Name	Type	Description
`wallet`	`address`	Address to receive fees

_feeOnRaw

Calculates the fees that should be added to an amount assets that does not already include fees

Used in previewWithdraw and _withdraw operations

function _feeOnRaw(uint256 assets, uint256 feePercentage) private pure returns (uint256);

Parameters

Name	Type	Description
`assets`	`uint256`	The asset amount before fees
`feePercentage`	`uint256`	Fee as a percentage with 18 decimals (e.g., 0.01e18 = 1%, 1e18 = 100%)

Returns

Name	Type	Description
`<none>`	`uint256`	Fee amount to add

_feeOnTotal

Calculates the fee part of an amount assets that already includes fees

Used in previewRedeem operations

function _feeOnTotal(uint256 assets, uint256 feePercentage) private pure returns (uint256);

Parameters

Name	Type	Description
`assets`	`uint256`	The total asset amount including fees
`feePercentage`	`uint256`	Fee as a percentage with 18 decimals (e.g., 0.01e18 = 1%, 1e18 = 100%)

Returns

Name	Type	Description
`<none>`	`uint256`	Fee amount that is part of the total

depositForMinShares

Deposits exact assets for shares or reverts if less than min shares will be minted

Provides slippage protection for deposits

function depositForMinShares(uint256 assets, uint256 minShares, address receiver)
    external
    returns (uint256 shares);

Parameters

Name	Type	Description
`assets`	`uint256`	Amount of assets to deposit
`minShares`	`uint256`	Minimum amount of shares expected
`receiver`	`address`	Address to receive the shares

Returns

Name	Type	Description
`shares`	`uint256`	Amount of shares minted

mintForMaxAssets

Mint exact shares for assets or reverts if more than max assets will be deposited

Provides slippage protection for mints

function mintForMaxAssets(uint256 shares, uint256 maxAssets, address receiver) external returns (uint256 assets);

Parameters

Name	Type	Description
`shares`	`uint256`	Amount of shares to mint
`maxAssets`	`uint256`	Maximum amount of assets willing to deposit
`receiver`	`address`	Address to receive the shares

Returns

Name	Type	Description
`assets`	`uint256`	Amount of assets deposited

withdrawForMaxShares

Withdraws exact assets for shares or reverts if more than max shares will be burned

Provides slippage protection for withdrawals

function withdrawForMaxShares(uint256 assets, uint256 maxShares, address receiver)
    external
    returns (uint256 shares);

Parameters

Name	Type	Description
`assets`	`uint256`	Amount of assets to withdraw
`maxShares`	`uint256`	Maximum amount of shares willing to burn
`receiver`	`address`	Address to receive the assets (as UnlockToken shares)

Returns

Name	Type	Description
`shares`	`uint256`	Amount of shares burned

redeemForMinAssets

Redeems exact shares for assets or reverts if less than min assets will be withdrawn

Provides slippage protection for redemptions

function redeemForMinAssets(uint256 shares, uint256 minAssets, address receiver) external returns (uint256 assets);

Parameters

Name	Type	Description
`shares`	`uint256`	Amount of shares to redeem
`minAssets`	`uint256`	Minimum amount of assets expected
`receiver`	`address`	Address to receive the assets (as UnlockToken shares)

Returns

Name	Type	Description
`assets`	`uint256`	Amount of assets withdrawn

pause

Pauses all token transfers

Only callable through AccessManager with ADMIN_ROLE

function pause() external restricted;

unpause

Unpauses all token transfers

Only callable through AccessManager with ADMIN_ROLE

function unpause() external restricted;

Structs

ApyUSDStorage

Note: storage-location: erc7201:apyx.storage.ApyUSD

struct ApyUSDStorage {
    /// @notice Reference to the UnlockToken contract for unlocking delay
    IUnlockToken unlockToken;
    /// @notice Reference to the Vesting contract for yield distribution
    IVesting vesting;
    /// @notice Unlocking fee as a percentage with 18 decimals (e.g., 0.01e18 = 1%, 1e18 = 100%)
    uint256 unlockingFee;
    /// @notice Address to receive unlocking fees
    address feeWallet;
}

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