# Symbiotic Symbiotic is a collateral markets platform that brings enforceable economic guarantees onchain. # Connecting capital to onchain applications Symbiotic is a collateral markets platform that brings enforceable economic guarantees onchain. It connects capital to financial applications where collateral is committed to back obligations for defined periods, ensuring it cannot exit before those obligations are fulfilled. By turning collateral into programmable infrastructure, Symbiotic enables protocols to access reliable, stake-backed guarantees without relying on participant discretion.
} href="/get-started/what/overview" /> } href="/integrate" /> } href="/get-started/resources/analytics-and-apis" />
# **What is Symbiotic?** Symbiotic is a collateral markets platform that brings enforceable economic guarantees onchain. It introduces collateral markets where capital is programmatically committed to back financial obligations for defined periods and cannot exit while those obligations are active. This ensures that guarantees are not dependent on participant behavior, but are instead enforced by code, turning collateral into a reliable and verifiable primitive for onchain finance. By enforcing capital commitment at the infrastructure layer, Symbiotic enables protocols to build credit, insurance, and liquidity systems backed by real guarantees rather than assumptions of liquidity. Capital remains productive while committed, earning yield across applications, while still being fully accountable to the obligations it backs. This transforms idle liquidity into programmable financial infrastructure that can support more robust and scalable financial products. ## Key Components and Relations ### Core Participants ![General overview](/img/overview-1.svg) * **Curators**: Entities that design and manage vault strategies. They define the vault's allocation policy, including which applications and external protocols capital can be allocated to, the associated risk parameters, and deposit permissions. Curators are responsible for optimizing yield while managing the vault's risk profile. * **Applications**: Protocols that leverage Symbiotic vault capital to provide economic security, liquidity, or financial guarantees. Applications can include infrastructure such as Layer 1s, bridges, and oracles, as well as DeFi protocols and financial use cases such as RWA liquidity, lending, underwriting, and stablecoin issuance. * **Allocators**: Capital providers that deposit assets into Symbiotic vaults to access their yield strategies. Allocators can be individuals, DAOs, institutions, treasury managers, or other protocols. Before depositing, they should understand the risks associated with the vault strategy, including the underlying applications, external protocols, and any slashing or financial risks. * **Operators**: Entities authorized by applications to perform specific tasks while being backed by vault collateral. Depending on the application, operators may run infrastructure (e.g. validators or oracle nodes), manage financial positions, execute settlements, provide underwriting, or perform other application-specific functions. Their actions are secured by the vault collateral allocated to them. ### Participant Connections Allocators provide capital by depositing assets into vaults. Each vault is managed by a curator, who defines the vault's strategy, including which applications and external protocols the capital can be allocated to, the associated risk parameters, and the operators that are authorized to interact with the vault. Applications integrate with Symbiotic to access collateral or liquidity from vaults. Depending on the use case, they may require collateral for economic security, underwriting, credit, or other financial services. Rather than interacting directly with allocators, applications access capital through the policies defined by the curator. Operators perform tasks on behalf of applications while being backed by vault collateral. Their responsibilities vary depending on the application and can include running infrastructure, executing settlements, managing capital, providing underwriting, or any other role that requires economic accountability. Together, vaults act as the coordination layer between all participants. They custody allocator capital, enforce curator-defined policies, connect applications with eligible operators, and ensure that every interaction follows the configured permissions and risk constraints. # **Vaults** Vaults are permissionless ERC-4626 tokenized vaults that accept deposits of a single collateral asset and issue transferable vault shares representing a proportional claim on the underlying assets. They act as the primary capital pools within Symbiotic, allowing curators to deploy deposited capital across different yield-generating strategies while maintaining a unified accounting layer for deposits, withdrawals, rewards, and fees. Each vault is managed independently by a curator, who defines its investment strategy, supported applications and adapters, fee structure, and access controls. This enables multiple vaults with different risk profiles and objectives to coexist while sharing the same underlying Symbiotic infrastructure. ## Vault Lifecycle A vault's capital can exist in two states: * Idle capital, which remains directly available within the vault. * Allocated capital, which has been delegated to one or more [adapters](./adapters). The [Universal Delegator](./universal-delegator) continuously manages these allocations according to the curator's strategy. Capital can move between adapters over time as strategies evolve, new yield opportunities become available, or liquidity is required to satisfy withdrawals. This separation allows vaults to remain liquid while maximizing capital efficiency across multiple strategies. ## Vault Parameters During deployment, curators configure the vault's immutable parameters, including the collateral asset, name, symbol, and delegator configuration. They also configure operational parameters such as management and performance fees, deposit limits, depositor whitelists, and role permissions, many of which can be updated throughout the vault's lifetime. Curators define the vault's strategy by deciding how capital is allocated across different adapters. These adapters can either provide economic security to applications through App Adapters or deploy idle capital into external yield sources, such as DeFi protocols or RWA redemption strategies. The vault continuously tracks the value of both idle assets and allocated capital, allowing deposits and withdrawals while accurately accounting for accrued rewards and fees. ## Reward System Depositors receive ERC-4626 vault shares proportional to their contribution. As the vault earns rewards from applications and external strategies, the value of each share increases over time. ## Withdrawals When users redeem their shares, the vault first utilizes any idle collateral it holds. If additional liquidity is required, it requests capital back from the Universal Delegator, which deallocates funds from the underlying adapters according to their respective withdrawal mechanisms. This enables the vault to provide liquidity while preserving the security guarantees and accounting rules of the applications consuming its collateral. # **Adapters** Adapters are modular contracts that allow Symbiotic vaults to deploy capital across different yield-generating strategies through a standardized interface. Rather than integrating directly with individual applications or external protocols, vaults allocate capital to adapters, which abstract the underlying implementation while exposing a consistent deposit, withdrawal, and accounting interface. This modular architecture allows new strategies to be added without modifying the vault itself. Curators can combine multiple adapters within a single vault, dynamically adjusting allocations as market conditions change while preserving a unified accounting and security model. ## How Adapters Work Vaults never interact directly with external protocols or applications. Instead, the [Universal Delegator](./universal-delegator) allocates capital to one or more adapters according to the curator's strategy. Each adapter is responsible for deploying capital, tracking the allocated position, processing withdrawals, and reporting the current asset value back to the vault. From the vault's perspective, every adapter behaves identically, regardless of the underlying strategy. This abstraction allows a single vault to simultaneously support multiple applications and external protocols without introducing protocol-specific logic into the vault itself. ## Adapter Types ### App Adapters App Adapters connect vaults to applications built on Symbiotic. They allow applications to access vault collateral while preserving Symbiotic's allocation, accounting, and slashing framework. Depending on the application, the allocated collateral may provide economic security for infrastructure, collateral for underwriting, credit facilities, settlement guarantees, or any other application-specific use case. Operators interact with these applications according to the policies defined by the curator and the application itself. ### Liquidity Adapters Liquidity Adapters deploy idle vault capital into external yield sources outside the Symbiotic ecosystem. These adapters maximize capital efficiency by allowing vaults to earn additional yield whenever collateral is not actively utilized by applications. Examples include DeFi lending protocols such as Morpho or Aave, as well as RWA redemption strategies where vault capital provides instant liquidity to asset holders in exchange for redemption discounts. Each Liquidity Adapter implements its own allocation and withdrawal logic while exposing the same standardized interface to the vault, allowing curators to combine multiple external strategies within a single portfolio. # **Universal Delegator** The Universal Delegator is the execution layer that sits between vaults and adapters. While vaults custody assets and maintain the ERC-4626 accounting model, the Universal Delegator is responsible for deciding where capital is deployed, how it moves between strategies, and how liquidity is retrieved when withdrawals occur. Rather than integrating directly with every application or external protocol, vaults allocate capital through a single Universal Delegator instance. The delegator exposes a standardized interface for capital allocation while abstracting away the underlying implementation of each strategy. This modular architecture allows a vault to support multiple yield sources simultaneously without modifying its own logic. As new adapters become available, they can simply be added to the delegator, enabling curators to evolve vault strategies over time while preserving a consistent accounting and security model. ## Responsibilities The Universal Delegator is responsible for coordinating all capital movements between a vault and its adapters. Its responsibilities include: * Managing the list of adapters supported by the vault. * Allocating idle capital according to the curator's strategy. * Enforcing per-adapter allocation limits. * Coordinating withdrawals across multiple adapters. * Tracking pending withdrawal requests. * Automatically allocating newly deposited capital. * Providing a unified execution layer independently of the underlying strategy. Because every adapter exposes the same interface, the Universal Delegator interacts with infrastructure applications, DeFi protocols, and RWA strategies in exactly the same way. ## Capital Allocation When assets are deposited into a vault, they initially remain as **idle capital**. Depending on the vault's configuration, the Universal Delegator can automatically allocate those assets across one or more adapters. Each adapter defines how much additional capital it is currently able to accept, while the curator defines the maximum allocation that adapter may receive. The Universal Delegator only allocates capital when **both** conditions are satisfied. Multiple allocation constraints can coexist simultaneously, allowing curators to build diversified portfolios across independent strategies while maintaining strict risk controls. ## Adapter Limits Each adapter can be configured with two independent allocation limits: * **Absolute Limit**, defining the maximum amount of collateral that may be allocated to the adapter. * **Share Limit**, defining the maximum percentage of the vault's total assets that may be allocated. The effective allocation limit is always the lower of these two values. This allows strategies to scale naturally as vault assets grow while still enforcing fixed exposure caps when necessary. ## Automatic Allocation Curators may designate one or more adapters as **Auto Allocate Adapters**. Whenever new capital enters the vault, the Universal Delegator attempts to distribute idle assets across these adapters according to their configured ordering and available capacity. If an adapter cannot accept additional assets, allocation automatically continues with the next adapter in the list. This mechanism allows vaults to continuously deploy capital without requiring manual intervention. ## Withdrawals Withdrawals follow the reverse flow. Whenever users redeem vault shares, the vault first consumes any available idle assets. If additional liquidity is required, the Universal Delegator begins retrieving capital from the underlying adapters. Because different strategies have different settlement characteristics, adapters may either: * return liquidity immediately, * partially satisfy the request, * or require an asynchronous withdrawal process. The Universal Delegator coordinates these requests while presenting a single withdrawal interface to the vault. ### Pending Withdrawals Not every strategy can return capital immediately. For example, an adapter may need to wait for an external lending market, redemption window, or settlement period before liquidity becomes available. When this occurs, the Universal Delegator records the outstanding withdrawal request and periodically attempts to complete it as liquidity becomes available. Once sufficient assets have been recovered, they are transferred back to the vault to satisfy pending withdrawals. This mechanism allows vaults to support strategies with heterogeneous liquidity profiles while maintaining consistent withdrawal semantics. ## Adapter Management The Universal Delegator allows curators to evolve a vault's strategy throughout its lifetime without modifying the vault itself. Curators can add or remove adapters, configure allocation limits, reorder allocation priority, and define which adapters should automatically receive newly deposited capital. Because each strategy is encapsulated within its own adapter, vaults can adapt to changing market conditions or integrate new yield sources without requiring migrations or changes to the underlying ERC-4626 accounting model. ### Permissions The Universal Delegator uses a role-based permission system to separate operational responsibilities. Different roles control actions such as allocating and deallocating capital, managing adapters, configuring allocation limits, and updating automatic allocation settings. This allows each vault to implement its own governance model while ensuring that only authorized entities can modify the vault's strategy or move capital. # **Curators** Curators define the underlying strategy of a vault. They decide how capital is allocated across different applications and adapters, ranging from external DeFi protocols to RWA liquidity through Liquid Lane. They also configure the vault's parameters during deployment and define the fees charged to depositors. Curators are typically market makers, risk managers, or yield funds with expertise in evaluating and managing on-chain strategies. However, vault creation on Symbiotic is permissionless, meaning anyone is free to create and manage their own vault. ## Responsibilities Curators are responsible for defining a vault's strategy and assessing the risk of the adapters they onboard. Adapters can refer to either native Symbiotic applications (e.g. Cap) or external yield strategies, ranging from passive allocations to DeFi protocols such as Morpho and Aave to tokenized asset redemption strategies through Liquid Lane. During vault creation, curators define a set of immutable parameters, including the collateral asset accepted by the vault. They also configure the vault's operational parameters, such as fees, deposit restrictions, allocation limits, supported adapters, and capital allocation across different strategies. As market conditions evolve, curators can rebalance these allocations and update the vault's configurable parameters to keep the strategy aligned with its objectives. ![curators-1.png](/img/v2-curator-1.svg) # **Applications** Applications are consumers of collateral and rely on vault capital for a variety of use cases, ranging from risk underwriting to economic security. They connect to Symbiotic vaults and use the allocated collateral to provide these guarantees. Curators define how much capital is allocated to each application. In return for consuming the vault's collateral, applications are expected to pay rewards back to the vault, as the vault is effectively providing the economic guarantees that enable their operation. ## Application's Interactions Applications receive stake guarantees through **App Adapters**. An App Adapter is a contract that connects a Symbiotic vault to a specific application-operator pair. It receives collateral allocated by the vault, exposes that collateral as slashable economic security, tracks historical stake and delayed withdrawals, accepts reward payments from the application, and enforces slashing by transferring collateral to the configured burner when authorized by the application's middleware. In other words, the App Adapter is the on-chain accounting and settlement layer that allows applications to consume vault collateral while preserving Symbiotic's security guarantees. The application middleware interacts with the App Adapter whenever slashing is required. ![Network on-chain part](/img/v2-application-1.svg) ## Examples ### Cap Cap is an on-chain credit platform that provides USD loans backed by financial guarantees. Every loan is underwritten with escrowed collateral, ensuring lenders are protected against borrower defaults. The protocol relies on a network of independent underwriters who originate and insure loans by committing their own capital to each credit decision. In return, underwriters earn premiums derived from credit spreads, while lenders receive secured yield backed by transparent, smart contract-enforced collateral guarantees. # Allocators Allocators are capital providers seeking exposure to Symbiotic's yield opportunities by depositing assets into Symbiotic vaults. Each vault is independently managed by a curator, who defines how capital is utilized. Depending on the vault strategy, capital may secure Symbiotic applications, be allocated across external protocols through Liquidity Adapters, or participate in other yield-generating strategies supported by the protocol. ## Choosing a Vault Before depositing, allocators should understand how a vault generates yield and the risks associated with its strategy. Although multiple vaults may accept the same collateral asset, they can differ significantly in terms of the applications they secure, the operators they rely on, the external protocols they interact with, and the overall risk profile. Ultimately, the decision of where to allocate capital depends on the allocator's own investment objectives and risk tolerance. ### Understanding the Risks Allocators are exposed to the risks of the strategy implemented by the curator. For vaults securing Symbiotic applications, this includes understanding the slashing conditions and the economic assumptions behind the secured networks. When a vault uses Liquidity Adapters, allocators should additionally evaluate the risks of the underlying protocols or tokenized assets receiving capital. These may include smart contract risk, counterparty risk, liquidity constraints, redemption mechanics, and, in the case of RWAs, issuer-specific considerations. ### Depositing Capital Once a suitable vault has been selected, allocators can deposit the supported collateral asset into the vault, subject to any deposit limits or whitelisting requirements configured by the curator. In return, the allocator receives ERC-20 vault shares representing a proportional claim on the vault's assets. As the vault strategy generates yield, the value of these shares increases over time, reflecting the vault's accumulated returns. # Operators Operators are entities responsible for performing services on behalf of applications secured through Symbiotic. They register with the protocol, opt into applications, and receive delegated stake from Symbiotic vaults, which acts as economic backing for their commitments. For infrastructure-focused applications, operators typically run software such as validators, sequencers, or other off-chain services that contribute to the security and decentralization of a network. In other use cases, including underwriting, financial guarantees, or liquidity provision, operators instead represent the entity responsible for delivering a specific service, with delegated vault collateral backing their obligations. ## Becoming an Operator Before participating in Symbiotic, operators must register with the protocol and opt into the applications they intend to support. Applications may define their own admission requirements, allowing operators to participate only after meeting the necessary criteria. Once an operator has opted into an application, vaults may choose to delegate stake to it according to the strategy defined by their curator. ## Responsibilities Operators are expected to perform the tasks required by the applications they support while complying with each application's operational requirements. Depending on the application, this may include maintaining reliable infrastructure, validating transactions, providing liquidity, issuing financial guarantees, or performing other specialized services. The exact responsibilities are determined by the application itself rather than by the Symbiotic protocol. ### Economic Security Operators do not provide collateral directly. Instead, they are backed by stake delegated from Symbiotic vaults, creating economic incentives for operators to perform their duties correctly. If an operator violates an application's rules or fails to satisfy its obligations, the delegated collateral may be subject to slashing according to the application's slashing conditions. As a result, operators should carefully evaluate the requirements and risks of every application they choose to support. ### Supporting Multiple Applications A single operator may participate in multiple applications simultaneously, provided it satisfies the requirements of each one and receives sufficient delegated stake from participating vaults. This allows operators to efficiently utilize their infrastructure while supporting a diverse range of decentralized networks and services across the Symbiotic ecosystem. # Use Cases Symbiotic's shared security and Relay attestation layer enable a wide range of protocols. Explore a few high-impact patterns below.
} href="/get-started/use-cases/credit-and-guarantees" /> } href="/get-started/use-cases/insurance-and-underwriting" /> } href="/get-started/use-cases/liquidity" /> } href="/get-started/use-cases/bridges-cross-chain-messaging" /> } href="/get-started/use-cases/decentralized-compute-ai-verification" /> } href="/get-started/use-cases/oracle-networks-data-feeds" /> } href="/get-started/use-cases/general-attestation-layers" /> } href="/get-started/use-cases/chain-agnostic-applications" /> } href="/get-started/use-cases/liquidity-management" /> } href="/get-started/use-cases/insurance-and-guarantees" />
# Credit and Guarantees Credit applications lend capital to external entities, ranging from corporations to individuals. These applications assess borrower risk and coordinate the collection of interest payments and other loan obligations. To reduce lender risk, these loans can be backed by collateral. This is where Symbiotic V2 comes in: it provides fully built and audited infrastructure for collateralized guarantees, allowing credit applications to seamlessly integrate collateral-backed lending and risk management into their systems. ## How it Works Capital allocators deposit funds into Symbiotic vaults, providing the collateral that backs the guarantees issued by the application. Rather than being pooled across all borrowers, these collateral commitments can be isolated per borrower or credit facility, allowing each guarantee to be independently managed and risk-assessed. When a borrower requests financing from an external source of capital, such as a reserve, treasury, or lending pool, the Symbiotic vault acts as a collateral layer that guarantees part or all of the borrower's obligations. This additional security enables capital providers to extend credit with greater confidence while maintaining a clear separation between the lending capital and the collateral securing it. If the borrower fulfills their obligations, the collateral remains untouched and capital allocators continue earning yield. If the borrower defaults, the collateral in the corresponding Symbiotic vault can be used to cover the agreed losses, reducing the lender's exposure. In return for assuming this risk, capital allocators receive compensation through the fees or yield generated by the application managing the credit system. ## Case Study ### Cap Cap is a covered credit platform that connects depositors, borrowers, and underwriters through a programmable financial guarantee system. By separating liquidity provision from credit risk, Cap enables borrowers to access unsecured or undercollateralized financing backed by onchain guarantees, while underwriters earn yield for assuming the underlying credit risk. #### 1. Capital allocators provide guarantees Capital allocators deposit assets into dedicated Symbiotic vaults, providing the collateral that secures loans originated through Cap. This capital is not lent directly to borrowers; instead, it remains locked as a guarantee, while borrowers access liquidity from external capital pools, such as reserves or lending facilities. Collateral commitments can be isolated per borrower or credit facility, allowing each guarantee to be independently managed and risk-assessed. #### 2. Borrowers obtain financing When a borrower requests financing, Cap performs the underwriting process and determines the amount of collateral required to guarantee the loan. Once sufficient collateral has been committed through the corresponding Symbiotic vault, the borrower can access the requested capital. Throughout the loan lifecycle, the lending capital and the guarantee capital remain entirely separate. #### 3. The guarantee remains active As long as the loan remains outstanding, the collateral stays locked in the Symbiotic vault while lenders earn interest from the borrower. In parallel, capital allocators receive fees generated by Cap in exchange for providing the guarantee and assuming the underlying credit risk. #### 4. Loan repayment If the borrower repays the loan according to the agreed terms, the guarantee expires and the collateral is released back to the Symbiotic vault, where it can be reused to underwrite future borrowers. #### 5. Default If the borrower defaults or another predefined loss event occurs, the corresponding collateral can be slashed and used to compensate the lender for the agreed losses. In this model, the credit risk is transferred to the capital allocators providing the guarantees, while Symbiotic supplies the infrastructure for managing collateral, guarantees, and slashing, and the credit application remains responsible for underwriting borrowers and determining when a loss event has occurred. # Insurance and Underwriting Insurance and underwriting applications provide financial protection against predefined risks by assessing exposures, collecting premiums, and managing claims. These applications determine the level of coverage required and continuously monitor the insured risks throughout the policy lifecycle. Policies can be backed by onchain collateral, ensuring sufficient capital is available to cover valid claims when they occur. Symbiotic V2 provides the infrastructure for managing this collateral, enabling applications to integrate collateralized underwriting, programmable guarantees, and slashing into their existing systems. ## How it Works Capital allocators deposit funds into Symbiotic vaults, providing the collateral used to underwrite insurance policies or other forms of risk coverage. Rather than being pooled across all policies, collateral commitments can be isolated per insurance pool, product, or risk category, allowing each underwriting strategy to be independently managed and risk-assessed. Depending on the application's design, collateral can also be structured into senior and junior tranches with different risk and return profiles. When a user purchases coverage, the application performs its underwriting process and determines the amount of collateral required to secure the policy. Once sufficient collateral has been committed through the corresponding Symbiotic vault, the policy becomes active. The vault collateral serves as the financial guarantee backing future claims, while the application remains responsible for pricing policies, assessing risk, and managing claims. If no covered event occurs during the policy period, the collateral remains untouched and capital allocators continue earning the insurance premiums generated by the application. If a valid claim is made, the corresponding collateral in the Symbiotic vault can be slashed to cover the insured losses. In return for assuming this underwriting risk, capital allocators receive compensation through the premiums collected by the application, with junior and senior tranches, where applicable, earning different returns based on their respective exposure. ## Case Study ### Nexus Mutual Nexus Mutual is a decentralized insurance protocol that provides coverage against a wide range of onchain and offchain risks, including smart contract exploits, validator slashing, custodial failures, and other predefined loss events. Rather than relying on a traditional insurance company, Nexus Mutual uses capital supplied by members to underwrite policies and pay valid claims. #### 1. Collateralized Underwriting Capital allocators deposit funds into dedicated Symbiotic vaults, providing the collateral used to underwrite Nexus Mutual cover products. Depending on the risk profile, vaults can be structured into multiple tranches, allowing capital providers to choose different levels of risk and expected return. For example, a dedicated collateral vault may act as the senior tranche, while additional tranches can absorb higher levels of risk in exchange for higher premiums. #### 2. Policy Issuance When a user purchases coverage, Nexus Mutual performs the underwriting process, prices the policy, and determines the amount of collateral required to back it. Once sufficient collateral has been committed through the corresponding Symbiotic vaults, the policy becomes active. Throughout the coverage period, the collateral remains locked as a financial guarantee, while capital allocators earn a share of the insurance premiums generated by the policies they underwrite. #### 3. Claims Settlement If no covered event occurs before the policy expires, the collateral is released and can immediately be reused to underwrite new policies. If a valid claim is approved, the corresponding Symbiotic vaults can be slashed according to the predefined loss waterfall. Losses are first absorbed by the appropriate tranche based on the application's risk model, allowing senior and junior capital providers to assume different levels of risk and earn premiums accordingly. This structure enables capital-efficient underwriting while providing transparent, onchain guarantees for policyholders. # Liquidity Symbiotic vault capital can be used both to provide economic guarantees to applications and to supply liquidity for additional use cases. Through specialized adapters connected to each vault, capital can be deployed just in time to redeem whitelisted assets, provide liquidity guarantees for predefined periods of time, or support other application-specific capital requirements, while remaining under the same unified collateral framework. ## How it Works Capital allocators deposit assets into a Symbiotic vault, which acts as the source of liquidity for the application. While this capital is not being used, the curator can allocate it across supported DeFi protocols to generate additional yield, ensuring idle collateral remains productive. When a user requests liquidity, the application performs its own pricing and execution logic, determines the amount of capital required, and requests liquidity from the corresponding Symbiotic vault. Through dedicated adapters, the vault can release the required funds just in time to service the request. The user receives liquidity immediately, while the corresponding asset, guarantee, or claim is transferred to the application. Following settlement, the application either manages the acquired position internally or waits until the underlying obligation matures. Once the assets are redeemed, repaid, or otherwise settled, the proceeds are returned to the Symbiotic vault, making the capital available for future requests. Throughout this process, the vault capital remains fully managed by the application while continuing to serve as the common collateral and liquidity layer across different use cases. ## Case Study ### Liquid Lane Liquid Lane enables instant liquidity for assets that would otherwise require a delayed redemption process. Instead of maintaining idle liquidity buffers, Liquid Lane sources capital from Symbiotic vaults on demand, allowing users to settle immediately while the acquired asset is submitted for its standard redemption process with the issuer. This separates liquidity provision from the redemption process, improving capital efficiency for both liquidity providers and asset issuers. #### 1. Instant Redemption Request When a user requests an instant redemption, Liquid Lane receives the request through an integrated frontend or API and forwards it to one or more solvers. Each solver evaluates the redemption request based on its own pricing and risk parameters before deciding whether to provide liquidity. Once a quote is accepted, the corresponding Symbiotic vault is selected to settle the transaction. #### 2. Instant Settlement The selected Symbiotic vault releases the required capital through its dedicated adapter, allowing the transaction to settle atomically. The user immediately receives the underlying settlement asset, while the corresponding RWA is transferred to the solver's redemption contract. This removes the need for the user to wait through the issuer's native redemption period. #### 3. Standard Redemption Following settlement, the solver initiates the asset's standard redemption process with the issuer. Throughout this period, the Symbiotic vault capital remains committed while the redemption is processed. Depending on the issuer and asset, the RWA may continue accruing its intrinsic yield until the redemption is completed. #### 4. Capital Recycling Once the issuer returns the underlying settlement asset, the proceeds are transferred back to the Symbiotic vault. The capital immediately becomes available to service future instant redemption requests, while capital allocators retain the fees earned for providing liquidity during the redemption period. # Addresses A comprehensive list of Symbiotic official smart contract deployments. ## Core :::code-group
| Contract | Address | Source Code | | ---------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | [VaultFactory](https://etherscan.io/address/0xAEb6bdd95c502390db8f52c8909F703E9Af6a346) | | | | [AdapterRegistry](https://etherscan.io/address/0x788823C9579A049D986eB76718bC758C0998594a) | | | | [ProtocolFeeRegistry](https://etherscan.io/address/0x9983edCD02f57b8b94bD8dE9D18E614dFB964d6D) | | | | [WithdrawalQueueFactory](https://etherscan.io/address/0x6f80fd397120164e44d23B9334910C8dE41Ce4ce) | | | | [UniversalDelegatorFactory](https://etherscan.io/address/0xB5eFf01403C0dD3aDa1010919791d6EB82F6a84C) | | | | [NetworkRegistry](https://etherscan.io/address/0xC773b1011461e7314CF05f97d95aa8e92C1Fd8aA) | | | | [NetworkMiddlewareService](https://etherscan.io/address/0xD7dC9B366c027743D90761F71858BCa83C6899Ad) | | |
::: ## Adapters :::code-group
| Contract | Address | Source Code | | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [MorphoVaultV2AdapterFactory](https://etherscan.io/address/0x70bc72b19a554436459a2C6a9E88892AeD18685b) | | | | [AaveV3AdapterFactory](https://etherscan.io/address/0x58F61759D858EafD8F58e4926e251701F6495dbF) | | | | [EulerAdapterFactory](https://etherscan.io/address/0x7cd61e3364a84B7d50F0a42C6eb937A1F05A0254) | | | | [AppAdapterFactory](https://etherscan.io/address/0x161954842B7EA47CBd050cAb4875DAa4D6599476) | | | | [RestakingAppAdapterFactory](https://etherscan.io/address/0xe1986078E2A2cE0f8609410B33Fca1C1CbCCbb4E) | | | | [LiquidLaneAdapterFactory](https://etherscan.io/address/0x3275aE068F4951e2e4d3Dca107a54E4c219b02e7) | | | | [ThreeFAdapterFactory](https://etherscan.io/address/0x98a6aAc642e8616514E19bE37557c08e77fcCbD8) | | |
::: ## Liquid Lane :::code-group
| Contract | Address | Source Code | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [AccountRegistry](https://etherscan.io/address/0x29F57Ed0f855f18AEc82146a0b7F15Cab66a1C8d) | | | | [mFONEAccountFactory](https://etherscan.io/address/0x0eb4C55BA5bF3cD73eAA76330122ba59349e3fE6) | | | | [mROXAccountFactory](https://etherscan.io/address/0x60D9961702392fEdF0C511ef2eF52834F50F1C1d) | | | | [mHYPERAccountFactory](https://etherscan.io/address/0x88715f8366Ea9481BCa1882d79E0ef8b18f3a379) | | | | [CarryTradeUSDTRYLeverageAccountFactory](https://etherscan.io/address/0x4cF6438a32C87e42A31b369F185D1d9f4E3b9d5b) | | | | [StockMarketTRBasisTradeAccountFactory](https://etherscan.io/address/0x4bf0A789a9b51A5947378C294b25012f5382A818) | | | | [mM1USDAccountFactory](https://etherscan.io/address/0x45e234291F2d598813F160dFE0A089651B91dB4B) | | | | [JAAAAccountFactory](https://etherscan.io/address/0xFF7A0730B69c6D5bC0FB67879f31AE69b9CB76B6) | | | | [JTRSYAccountFactory](https://etherscan.io/address/0xbeB8c94d05aea90263De6B54724e0Fd4ef0Fd96d) | | | | [HYBAccountFactory](https://etherscan.io/address/0x1C9f7e96631f7a44D63607eec7B5083f12b3C6Cd) | | | | [deJAAAAccountFactory](https://etherscan.io/address/0x85661e24B6843AdcbF956891D52e519679a4ffB9) | | | | [deJTRSYAccountFactory](https://etherscan.io/address/0x0b8c1757D058eDD122C3B1178FFa29637d825C61) | | | | [HYBONDAccountFactory](https://etherscan.io/address/0xc3398bFe441ef91bad0650116BC9A11Ecaf843A5) | | | | [PRIMEAccountFactory](https://etherscan.io/address/0xe73d29fb92340A16625388712a93490e159E433e) | | | | [mGLOBALAccountFactory](https://etherscan.io/address/0xe2D6C6C2b715ce44bBeB001d16cF98610D7b102d) | | | | [AA\_FalconX\_AccountFactory](https://etherscan.io/address/0xa47cE86c304e251198F1a318c569e5217b694e1F) | | |
::: ## RFQ :::code-group
| Contract | Address | Source Code | | ---------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------- | | [Reactor](https://etherscan.io/address/0xC323B898d7E4105E3980082B74CC5D4602996B10) | | |
:::
## Core :::code-group
| Contract | Address | Source Code | | ------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | [VaultFactory](https://etherscan.io/address/0xAEb6bdd95c502390db8f52c8909F703E9Af6a346) | | | | [DelegatorFactory](https://etherscan.io/address/0x985Ed57AF9D475f1d83c1c1c8826A0E5A34E8C7B) | | | | [SlasherFactory](https://etherscan.io/address/0x685c2eD7D59814d2a597409058Ee7a92F21e48Fd) | | | | [NetworkRegistry](https://etherscan.io/address/0xC773b1011461e7314CF05f97d95aa8e92C1Fd8aA) | | | | [NetworkMiddlewareService](https://etherscan.io/address/0xD7dC9B366c027743D90761F71858BCa83C6899Ad) | | | | [OperatorRegistry](https://etherscan.io/address/0xAd817a6Bc954F678451A71363f04150FDD81Af9F) | | | | [OperatorVaultOptInService](https://etherscan.io/address/0xb361894bC06cbBA7Ea8098BF0e32EB1906A5F891) | | | | [OperatorNetworkOptInService](https://etherscan.io/address/0x7133415b33B438843D581013f98A08704316633c) | | | | [VaultConfigurator](https://etherscan.io/address/0x29300b1d3150B4E2b12fE80BE72f365E200441EC) | | |
| Contract | Address | Source Code | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | [VaultFactory](https://hoodi.etherscan.io/address/0x407A039D94948484D356eFB765b3c74382A050B4) | | | | [DelegatorFactory](https://hoodi.etherscan.io/address/0x890CA3f95E0f40a79885B7400926544B2214B03f) | | | | [SlasherFactory](https://hoodi.etherscan.io/address/0xbf34bf75bb779c383267736c53a4ae86ac7bB299) | | | | [NetworkRegistry](https://hoodi.etherscan.io/address/0x7d03b7343BF8d5cEC7C0C27ecE084a20113D15C9) | | | | [NetworkMiddlewareService](https://hoodi.etherscan.io/address/0x62a1ddfD86b4c1636759d9286D3A0EC722D086e3) | | | | [OperatorRegistry](https://hoodi.etherscan.io/address/0x6F75a4ffF97326A00e52662d82EA4FdE86a2C548) | | | | [OperatorVaultOptInService](https://hoodi.etherscan.io/address/0x95CC0a052ae33941877c9619835A233D21D57351) | | | | [OperatorNetworkOptInService](https://hoodi.etherscan.io/address/0x58973d16FFA900D11fC22e5e2B6840d9f7e13401) | | | | [VaultConfigurator](https://hoodi.etherscan.io/address/0x94c344E816A53D07fC4c7F4a18f82b6Da87CFc8f) | | |
| Contract | Address | Source Code | | -------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | [VaultFactory](https://sepolia.etherscan.io/address/0x407A039D94948484D356eFB765b3c74382A050B4) | | | | [DelegatorFactory](https://sepolia.etherscan.io/address/0x890CA3f95E0f40a79885B7400926544B2214B03f) | | | | [SlasherFactory](https://sepolia.etherscan.io/address/0xbf34bf75bb779c383267736c53a4ae86ac7bB299) | | | | [NetworkRegistry](https://sepolia.etherscan.io/address/0x7d03b7343BF8d5cEC7C0C27ecE084a20113D15C9) | | | | [NetworkMiddlewareService](https://sepolia.etherscan.io/address/0x62a1ddfD86b4c1636759d9286D3A0EC722D086e3) | | | | [OperatorRegistry](https://sepolia.etherscan.io/address/0x6F75a4ffF97326A00e52662d82EA4FdE86a2C548) | | | | [OperatorVaultOptInService](https://sepolia.etherscan.io/address/0x95CC0a052ae33941877c9619835A233D21D57351) | | | | [OperatorNetworkOptInService](https://sepolia.etherscan.io/address/0x58973d16FFA900D11fC22e5e2B6840d9f7e13401) | | | | [VaultConfigurator](https://sepolia.etherscan.io/address/0xD2191FE92987171691d552C219b8caEf186eb9cA) | | |
::: ## Rewards :::code-group
| Contract | Address | Source Code | | ------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------- | | [Curator Registry](https://etherscan.io/address/0xF75D8d8F790178F0d7F2ee7656874567d382C21e) | | | | [FeeRegistry](https://etherscan.io/address/0x3E5a669F673712Bf72De956608E89D36561cbAf1) | | | | [Rewards](https://etherscan.io/address/0xa13e65cA0FeFa52cCb9615108fF400EF4806866B) | | |
| Contract | Address | Source Code | | ------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------- | | [Curator Registry](https://hoodi.etherscan.io/address/0x0fbd01C89F4B12475A67204FF4e18E809839B7b4) | | | | [FeeRegistry](https://hoodi.etherscan.io/address/0x4804a29f16E25cE1BcBd802547445012fa7e0051) | | | | [Rewards](https://hoodi.etherscan.io/address/0x2A49C0B7154919eA2453aA190A014994A5C87D84) | | |
| Contract | Address | Source Code | | ---------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [DefaultStakerRewardsFactory](https://sepolia.etherscan.io/address/0xE6381EDA7444672da17Cd859e442aFFcE7e170F0) | | | | [DefaultOperatorRewardsFactory](https://sepolia.etherscan.io/address/0x8D6C873cb7ffa6BE615cE1D55801a9417Ed55f9B) | | |
::: ## Burners :::code-group
| Contract | Address | Source Code | | ---------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [BurnerRouterFactory](https://etherscan.io/address/0x99F2B89fB3C363fBafD8d826E5AA77b28bAB70a0) | | | | [wstETH\_Burner](https://etherscan.io/address/0xdCaC890b14121FD5D925E2589017Be68C2B5B324) | | | | [rETH\_Burner](https://etherscan.io/address/0x89e3915C9Eb07D1bfF5d78e24B28d409dba9B272) | | | | [mETH\_Burner](https://etherscan.io/address/0x919C4329Ed4D4A72c72c126ff8AE351C1E7Ce231) | | | | [swETH\_Burner](https://etherscan.io/address/0x1Aca33aE8f57E2cdADd0375875AE12fb08c54529) | | | | [sfrxETH\_Burner](https://etherscan.io/address/0xBe5821dB563311750f6295E3CDB40aBbDBfF0c4b) | | | | [ETHx\_Burner](https://etherscan.io/address/0xCd669361D629380A70338d613D29c6F3a28A2B50) | | |
| Contract | Address | Source Code | | ---------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [BurnerRouterFactory](https://hoodi.etherscan.io/address/0xF619c99D166224B4AC008b14Cc67ac72C2E91D8a) | | | | [wstETH\_Burner](https://hoodi.etherscan.io/address/0xd80732420fF1C62A21bA11c83377F7a5d69AEF26) | | | | [rETH\_Burner](https://hoodi.etherscan.io/address/0xC1F81485E05cc91EC1eBF556455de54F58675278) | | |
| Contract | Address | Source Code | | ------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [BurnerRouterFactory](https://sepolia.etherscan.io/address/0x32e2AfbdAffB1e675898ABA75868d92eE1E68f3b) | | | | [wstETH\_Burner](https://sepolia.etherscan.io/address/0x58D347334A5E6bDE7279696abE59a11873294FA4) | | | | [mETH\_Burner](https://sepolia.etherscan.io/address/0xE7845Dd89F8b93924A279e58E448c5a8e7aCE675) | | |
::: ## Hooks :::code-group
| Contract | Address | Source Code | | --------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [FullRestakeDecreaseHook](https://etherscan.io/address/0x0786ef079A0Fc3A2D9e62bf2E8c7aeF86B62d70A) | | | | [NetworkRestakeDecreaseHook](https://etherscan.io/address/0xe46d876BA2F3C991F3AC3321B8C0A1c323ef8bCf) | | | | [NetworkRestakeRedistributeHook](https://etherscan.io/address/0x8A76a3b791D9cfCD17304D31e04304A54Bf07845) | | | | [OperatorSpecificDecreaseHook](https://etherscan.io/address/0xCc7Fd9B9A37ba1e2b30243Ce5A52BDB1f56B006a) | | |
| Contract | Address | Source Code | | --------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [FullRestakeDecreaseHook](https://hoodi.etherscan.io/address/0x3224d9DF887ABdC10c1bCcECfd9EFC29A638a3E3) | | | | [NetworkRestakeDecreaseHook](https://hoodi.etherscan.io/address/0x2C78B3A5de76161aee8e37d0E3b0E0EBb12BacCc) | | | | [NetworkRestakeRedistributeHook](https://hoodi.etherscan.io/address/0x45B188aBE45820aE130A2844649Faeb225096596) | | | | [OperatorSpecificDecreaseHook](https://hoodi.etherscan.io/address/0xF8ee812cc1E7C8eE94395E510098b36ff458E77d) | | |
| Contract | Address | Source Code | | ----------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [FullRestakeDecreaseHook](https://sepolia.etherscan.io/address/0x088c40869954806Cd1580eda3C2d866104d0b118) | | | | [NetworkRestakeDecreaseHook](https://sepolia.etherscan.io/address/0x4EeA7269BC42feA87B4E92F4E4f7bCAF3dC81875) | | | | [NetworkRestakeRedistributeHook](https://sepolia.etherscan.io/address/0x5425D1604a4e01C34996cb662d831E0dEF66C210) | | | | [OperatorSpecificDecreaseHook](https://sepolia.etherscan.io/address/0xeae1fCEe58Bd5c3EE9185b34E9f4481faB8FA939) | | |
::: ## Periphery :::code-group
| Contract | Address | Source Code | | ---------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [DefaultCollateralMigrator](https://etherscan.io/address/0x8F152FEAA99eb6656F902E94BD4E7bCf563D4A43) | | |
| Contract | Address | Source Code | | ------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [DefaultCollateralMigrator](https://sepolia.etherscan.io/address/0xD6BE794b3761fd2bA23fB054F1Fe1606Ae35de4e) | | |
::: ## Hints ::::code-group
:::warning The hints provision contracts weren't audited and should be used only for gas costs **optimisation** purposes. ::: | Contract | Address | Source Code | | --------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [OptInServiceHints](https://etherscan.io/address/0xe58ED8D0788BD93d665552409Dc60d43c9E6A29f) | | | | [VaultHints](https://etherscan.io/address/0xeaDDC9F93a7d7B845084a30Da09400f0170fC9BC) | | | | [BaseDelegatorHints](https://etherscan.io/address/0xa298E96FE9bD30cA6801d35Ba28f6d1C004123c7) | | | | [SlasherHints](https://etherscan.io/address/0x234148646D8C1762C793FD04385AfAD94998a4C7) | | | | [VetoSlasherHints](https://etherscan.io/address/0x653815A6E2Accd3AE3eDC41d48Bec9192D5B8651) | | |
:::warning The hints provision contracts weren't audited and should be used only for gas costs **optimisation** purposes. ::: | Contract | Address | Source Code | | --------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [OptInServiceHints](https://hoodi.etherscan.io/address/0x5a573b5Ecb9a1B988b0488B1B5A4B4B200536E39) | | | | [VaultHints](https://hoodi.etherscan.io/address/0x43C29B90e651860EB2963D54a40C371C75630c39) | | | | [BaseDelegatorHints](https://hoodi.etherscan.io/address/0x88c5519016FC6F5F8dC53eb299fce691b8174C34) | | | | [SlasherHints](https://hoodi.etherscan.io/address/0x9C3F0Beb3A1Dfae975cE42571b7EE57dd3179351) | | | | [VetoSlasherHints](https://hoodi.etherscan.io/address/0x2012926262F5104DD2DADA544cB0DeE438a734F1) | | |
:::warning The hints provision contracts weren't audited and should be used only for gas costs **optimisation** purposes. ::: | Contract | Address | Source Code | | ----------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [OptInServiceHints](https://sepolia.etherscan.io/address/0x22C505eFf313CDd959e9D2240b6238F25ad8831b) | | | | [VaultHints](https://sepolia.etherscan.io/address/0x6e86527667e576FCf3425617C92E4c913375Ce97) | | | | [BaseDelegatorHints](https://sepolia.etherscan.io/address/0xA9500049fCfbE767Dcc5E7A4a6bb6e2E0c523e2A) | | | | [SlasherHints](https://sepolia.etherscan.io/address/0xfd530c42e3e5507bB6fA81881817121e6256A32A) | | | | [VetoSlasherHints](https://sepolia.etherscan.io/address/0xAb888A61684C20B96aDCD3F36B458574eb69f6a2) | | |
:::: ## Legacy ### Vaults :::code-group
| Contract | Address | Source Code | | ----------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------- | | [DefaultCollateralFactory](https://etherscan.io/address/0x1BC8FCFbE6Aa17e4A7610F51B888f34583D202Ec) | | | | [DefaultCollateral: wstETH](https://etherscan.io/address/0xC329400492c6ff2438472D4651Ad17389fCb843a) | | | | [DefaultCollateral: cbETH](https://etherscan.io/address/0xB26ff591F44b04E78de18f43B46f8b70C6676984) | | | | [DefaultCollateral: wBETH](https://etherscan.io/address/0x422F5acCC812C396600010f224b320a743695f85) | | | | [DefaultCollateral: rETH](https://etherscan.io/address/0x03Bf48b8A1B37FBeAd1EcAbcF15B98B924ffA5AC) | | | | [DefaultCollateral: mETH](https://etherscan.io/address/0x475D3Eb031d250070B63Fa145F0fCFC5D97c304a) | | | | [DefaultCollateral: swETH](https://etherscan.io/address/0x38B86004842D3FA4596f0b7A0b53DE90745Ab654) | | | | [DefaultCollateral: sfrxETH](https://etherscan.io/address/0x5198CB44D7B2E993ebDDa9cAd3b9a0eAa32769D2) | | | | [DefaultCollateral: ETHx](https://etherscan.io/address/0xBdea8e677F9f7C294A4556005c640Ee505bE6925) | | | | [DefaultCollateral: ENA](https://etherscan.io/address/0xe39B5f5638a209c1A6b6cDFfE5d37F7Ac99fCC84) | | | | [DefaultCollateral: sUSDe](https://etherscan.io/address/0x19d0D8e6294B7a04a2733FE433444704B791939A) | | | | [DefaultCollateral: WBTC](https://etherscan.io/address/0x971e5b5D4baa5607863f3748FeBf287C7bf82618) | | | | [DefaultCollateral: tBTC](https://etherscan.io/address/0x0C969ceC0729487d264716e55F232B404299032c) | | | | [DefaultCollateral: LsETH](https://etherscan.io/address/0xB09A50AcFFF7D12B7d18adeF3D1027bC149Bad1c) | | | | [DefaultCollateral: osETH](https://etherscan.io/address/0x52cB8A621610Cc3cCf498A1981A8ae7AD6B8AB2a) | | | | [DefaultCollateral: ETHFI](https://etherscan.io/address/0x21DbBA985eEA6ba7F27534a72CCB292eBA1D2c7c) | | | | [DefaultCollateral: FXS](https://etherscan.io/address/0x940750A267c64f3BBcE31B948b67CD168f0843fA) | | | | [DefaultCollateral: LBTC](https://etherscan.io/address/0x9C0823D3A1172F9DdF672d438dec79c39a64f448) | | | | [DefaultCollateral: SWELL](https://etherscan.io/address/0x544f45485418341C1a2B3a44404F12302277fFFC) | | | | [DefaultCollateral: MANTA](https://etherscan.io/address/0x594380c06552A4136E2601F89E50b3b9Ad17bd4d) | | |
::: ### Rewards :::code-group
| Contract | Address | Source Code | | ------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [DefaultStakerRewardsFactory](https://etherscan.io/address/0x290CAB97a312164Ccf095d75D6175dF1C4A0a25F) | | |
| Contract | Address | Source Code | | -------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [DefaultStakerRewardsFactory](https://sepolia.etherscan.io/address/0x70C618a13D1A57f7234c0b893b9e28C5cA8E7f37) | | |
:::
# Bug Bounty Bug bounty program: [Cantina - \$500,000](https://cantina.xyz/bounties/acca29a4-d405-4405-a3b3-8c3feb10d1e3) (Core & Rewards) ## Audits - Security Reviews | Auditor | Scope | Date | Report | | ------------------------------------------------- | ----------------------------------------------------------------------------- | ----------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | [Euler & LiquidLane (Pareto)](https://github.com/symbioticfi/core) | 08-2026 | | | | [LiquidLane (mGLOBAL)](https://github.com/symbioticfi/core) | 07-2026 | | | | [3F](https://github.com/symbioticfi/core) | 07-2026 | | | | [LiquidLane (Centrifuge)](https://github.com/symbioticfi/core) | 07-2026 | | | | [LiquidLane (Figure & OpenEden)](https://github.com/symbioticfi/core) | 07-2026 | | | | [3F](https://github.com/symbioticfi/core) | 07-2026 | | | | [LiquidLane](https://github.com/symbioticfi/core) | 06-2026 | | | | [LiquidLane](https://github.com/symbioticfi/core) | 06-2026 | | | | [RFQ](https://github.com/symbioticfi/rfq) | 06-2026 | | | | [Core V2](https://github.com/symbioticfi/core) | 06-2026 | | | | [Core V2 Extension](https://github.com/symbioticfi/core) | 06-2026 | | | | [Core V2](https://github.com/symbioticfi/core) | 06-2026 | | | | [Rewards V2](https://github.com/symbioticfi/rewards-v2) | 01-2026 | | | | [Rewards V2](https://github.com/symbioticfi/rewards-v2) | 11-2025 | | | | [Relay Contracts (BLS12-381)](https://github.com/symbioticfi/relay-contracts) | 12-2025 | | | | [Relay Contracts](https://github.com/symbioticfi/relay-contracts) | 09-2025 | | | | [Relay Contracts](https://github.com/symbioticfi/relay-contracts) | 09-2025 | | | | [Relay Contracts](https://github.com/symbioticfi/relay-contracts) | 07-2025 | | | | [Relay Contracts](https://github.com/symbioticfi/relay-contracts) | 05-2025 | | | | [Relay Contracts](https://github.com/symbioticfi/relay-contracts) | 05-2025 | | | | [Network](https://github.com/symbioticfi/network) | 09-2025 | | | | [Network](https://github.com/symbioticfi/network) | 09-2025 | | | | [Network](https://github.com/symbioticfi/network) | 07-2025 | | | | [Core](https://github.com/symbioticfi/core) | 09-2024 | | | | [Core](https://github.com/symbioticfi/core) | 09-2024 | | | | [Core](https://github.com/symbioticfi/core) | 09-2024 | | | | [Core](https://github.com/symbioticfi/core) | 08-2024 | | | | [Core](https://github.com/symbioticfi/core) | 07-2024 | | | | [Core](https://github.com/symbioticfi/core) | 06-2024 - 12-2024 | | | | [Rewards V1](https://github.com/symbioticfi/rewards) | 09-2024 | | | | [Rewards V1](https://github.com/symbioticfi/rewards) | 08-2024 | | | | [Rewards V1](https://github.com/symbioticfi/rewards) | 06-2024 - 12-2024 | | | | [Burners](https://github.com/symbioticfi/burners) | 08-2024 | | | | [Hooks](https://github.com/symbioticfi/hooks) | 08-2024 | | | | [Periphery](https://github.com/symbioticfi/periphery) | 08-2024 | | | | [Legacy Vaults](https://github.com/symbioticfi/collateral) | 05-2024 | | | | [Legacy Vaults](https://github.com/symbioticfi/collateral) | 04-2024 | | # Risks Symbiotic Core V2 is designed to be highly modular, allowing vaults, applications, operators, and allocators to define their own risk and reward profiles. As a result, participants should carefully understand the assumptions and responsibilities associated with every integration before interacting with the protocol. ## Applications Applications should carefully evaluate the economic security backing their systems. This includes selecting appropriate collateral, working with reliable operators, and diversifying security across multiple vaults where possible. Slashing conditions should be clearly defined, transparent, and proportional to the responsibilities expected from operators. Applications should also understand how participating vaults generate yield. Some vaults may utilize Liquidity Adapters or other external strategies, which may introduce additional operational and financial risks beyond the application's own infrastructure. ## Curators Curators are responsible for defining how vault capital is utilized and therefore play a central role in the overall risk profile of a vault. Before enabling applications or Liquidity Adapters, curators should understand the operational assumptions, financial risks, and potential failure modes of each strategy. Administrative permissions should be managed carefully, ideally through multisigs or similarly secure operational setups. Curators should also regularly review vault allocations, adapter configurations, and operational limits to ensure they continue to reflect the intended strategy. ## Allocators Allocators should evaluate the complete vault strategy rather than focusing solely on the expected yield. Different vaults accepting the same collateral may expose capital to very different applications, operators, or external protocols. When a vault utilizes Liquidity Adapters, allocators should additionally understand the risks of the underlying protocols or tokenized assets receiving capital, including liquidity constraints, smart contract risk, and, where applicable, issuer-specific risks associated with RWAs. ## Operators Operators should only participate in applications whose operational requirements they fully understand. As delegated vault collateral backs their activities, failure to satisfy an application's requirements may result in slashing. Maintaining reliable infrastructure, secure operational practices, and continuous monitoring is essential to minimizing operational risk and protecting both delegated capital and the operator's reputation. ## General Recommendations Regardless of their role, all participants should verify contract addresses using the official deployment documentation, carefully review administrative permissions, and thoroughly test integrations before deploying to production environments. As the protocol evolves, participants should also stay informed about Core upgrades, adapter releases, and updated operational recommendations. # Points Program Symbiotic Points reward participants that provide useful economic security through the protocol. They are earned by depositing collateral into vaults and, in Season 2, by delegating that collateral to secure networks. You can view your points by connecting your wallet at `https://app.symbiotic.fi`. If you participate through wrappers such as LRTs, some or all of your points may be shown in the provider’s own interface instead of the Symbiotic app. Participation in the Points Program is subject to Symbiotic’s Terms of Use, Points Program Terms, and Risk Factor Disclosure Statement. ## How Points Are Calculated in Core V2 Symbiotic launched an upgrade to core smart contract infrastructure in July 2026 (learn more at https://resources.symbiotic.fi/symbiotic-core-v2-technical-overview). Core V2 vaults receive points based on their AUM that’s actively allocated to adapters. **`V2 points per hour = Vault TVL allocated to adapters × 0.001`** ## Seasons ### Season 1: Pre-Deposit phase Season 1 covers the initial rollout of Symbiotic from June 2024 until the deployment of feature complete core contracts on Ethereum mainnet. During this phase, Pre-Deposit (default collateral) vaults were deployed for assets such as wstETH, mETH, wBTC and others. These vaults did not yet delegate stake to networks. Depositors earned points based mainly on the size and duration of their collateral. Over this period, Pre-Deposit vaults accumulated roughly 2B USD of TVL. ### Season 2: Actively delegated stake Season 2 starts with the mainnet deployment of core contracts. From this point, vaults can be deployed that delegate collateral to operators on Symbiotic networks. Season 2 is designed as a transition from idle collateral into fully deployed security. The key changes are: * Delegated collateral earns a higher points rate than idle collateral in Pre-Deposit vaults * Points for Pre-Deposit vaults continue at a lower rate and are intended to phase out over time * Depositors are encouraged to move into actively delegated vaults curated by LRTs, operators, institutions and network foundations If you use Symbiotic via an LRT, your provider may manage this migration on your behalf. If you deposit directly, the Symbiotic app guides you through moving from Pre-Deposit vaults to actively delegated vaults. ## Who Earns Points Points are assigned on a per-network basis and then split across three groups: 1. The network itself 2. Operators on that network 3. Vaults that delegate stake to the network and their depositors Networks can receive up to 5% of total allocated points, while allocating another up to 5% to operators. The remaining points go to vaults, where curators can charge an additional admin fee of up to 5%, with the rest distributed to depositors pro rata to their share of the vault’s TVL. This ensures that all contributors to shared security are rewarded, while the strongest incentives remain aligned with staked capital. ![Symbiotic Structure](/img/symbiotic-points-structure.jpg) ## How Points Are Calculated in Season 2 and Points 2.1 Points 2.1 refines Season 2 by tying rewards more tightly to how capital is actually deployed and how safely it is used. At a high level, each network receives: `Points per hour = NetworkStake × PointsRate × 0.001` `PointsRate = MiningRate × SecurityRate` Everything is computed per network, then split to networks, operators, and vaults as described above. ### Mining Rate: stake relative to target Each network has a target stake, in USD terms. This is the amount of collateral that is considered appropriate for its security needs. * When a network is below its target stake, the mining rate is high and each extra unit of stake earns close to the maximum number of points * As the network approaches and exceeds its target, the mining rate is reduced so additional stake earns fewer or no extra points This discourages over-staking on a single network purely for points and helps push capital toward networks that still need security. ![Mining Rate](/img/mining-rate.png) ### Security Rate: how stake is used and distributed The security rate measures how risk aware a network’s stake is. It combines two ideas: 1. Restaking score of the underlying vaults 2. How decentralised stake is across those vaults ### Restaking score Restaking is measured as the ratio between: `Restaking ratio = Total delegated stake of the vault / Vault TVL` A higher ratio means the same collateral is used to secure more networks. This can be capital efficient, but also increases potential correlated slashing risk. Points 2.1 uses a target restaking ratio (currently 3). Around this ratio, the restaking score is high. When a vault’s ratio climbs significantly above this, its restaking score falls quickly. This affects both: * The network’s security rate if it relies heavily on that vault * The vault’s own share of points from the network, since vault rewards are multiplied by their restaking score ![Restaking score](/img/restaking-score.png) ### Stake decentralisation across vaults To avoid having one vault dominate a network’s security, Points 2.1 uses a decentralisation score derived from the complement of the Herfindahl–Hirschman Index. It ranges from 0 (all stake effectively in a single vault) to 1 (stake spread across many vaults). The security rate is a stake-weighted combination of restaking scores and this decentralisation score. Networks that rely on sane restaking and multiple vaults earn a higher security rate and therefore more points for the same amount of stake. ## Vault Behaviour and Delegation From the perspective of a depositor, the main rules are simple: * Points are only accrued on collateral that is actively delegated from a vault to networks * The effective points per unit of collateral depend on how much of the vault’s TVL is delegated, how many networks it supports, and how aggressive its restaking ratio is This implies: * A well-utilised delegated vault will generally earn more points than a Pre-Deposit vault * A vault that barely delegates, or that is very concentrated on a single network, may earn fewer points than a better balanced alternative * A vault that pushes its restaking ratio far above the target can see its points reduced, even if it holds a large TVL The Symbiotic app shows vault-level information such as TVL, delegated stake, and expected points, to help depositors choose where to allocate collateral. ## Pre-Deposit Vaults and Migration Season 1 Pre-Deposit vaults remain part of the system in Season 2, but with reduced incentives. They continue to earn points at a lower rate for a transition period. Over time, rewards are intended to shift more fully toward vaults that actively delegate stake to networks. A typical migration path for a direct depositor is: 1. Withdraw or migrate from a Pre-Deposit vault 2. Deposit into an Actively Delegated vault 3. The curator allocates stake from that vault across one or more networks 4. Points accrue based on delegated stake and each network’s points rate under Points 2.1 Wrappers and LRTs may perform equivalent steps internally for their users. ## Tracking Your Points You can track your points directly in the Symbiotic app by connecting your wallet. For a more detailed view under Points 2.1, including how your capital is distributed across networks and vaults and how that affects your effective points rate, you can also use the Symbiotic Points dashboards on Dune. # **Analytics** Symbiotic exposes a set of public dashboards that track the protocol’s growth, rewards, and users in real time. This page aggregates the main views so teams can quickly monitor what matters without rebuilding queries from scratch. All dashboards are updated live and can be filtered by time range, chain, vault, or other parameters directly in the UI. ## 1. Protocol overview ### 1.1 Core protocol stats **Dashboard:** https://dune.com/symbiotic/symbiotic-core-stats This view is the main entry point for Symbiotic protocol health. It typically includes: * Total value locked (TVL) across all vaults * Distribution of TVL by collateral, vault type, and chain * Number of active vaults, networks, and operators * Historical evolution of TVL and activity over time Use this dashboard to answer questions like: * How fast is Symbiotic growing? * Which assets and vaults are driving most of the TVL? * How many networks and operators are active at any point in time? ## 2. Rewards ### 2.1 Rewards paid via Symbiotic **Dashboard:** https://dune.com/symbiotic/symbiotic-rewards This dashboard tracks how rewards flow through the protocol: * Total rewards paid over time * Rewards by vault and by network * Breakdown by asset / reward token (e.g. native tokens, points, incentives) * Historical reward schedules and emission trends Use this to: * Understand which vaults or networks are currently incentivized * Compare reward intensity across different configurations * Monitor the effectiveness of incentive programs over time ## 3. Users and stakers ### 3.1 Symbiotic stakers overview **Dashboard:** https://dune.com/symbiotic/symbiotic-users This dashboard focuses on user behavior and the staking side of the protocol: * Number of unique stakers interacting with Symbiotic * Growth of new addresses over time * Distribution of stake per user (small vs large stakers) * Activity across chains and vaults It gives a high-level picture of how broad and diversified the staker base is. ### 3.2 New vs. returning users **Dashboard section:** https://dune.com/symbiotic/symbiotic-users This section highlights: * New stakers entering the protocol in each time period * Returning stakers that continue to deposit, restake, or interact * Basic retention dynamics (how many users come back after their first interaction) This view is useful for: * Measuring how well incentive programs convert into long-term stakers * Understanding if growth is driven mostly by net-new users or by existing users increasing positions * Tracking the “stickiness” of the protocol over time *** # **Universal Staking** Universal Staking is more than just restaking. Instead of merely reusing staked assets to secure multiple networks, it introduces a flexible coordination layer for sharing collateral across a wide range of use cases beyond Proof-of-Stake (PoS) implementations. ## **Traditional Shared Security** At its core, shared security is the alignment of incentives, either horizontally across multiple participants or vertically across layers within the same system. This foundational primitive unlocks a modular design space. Horizontally, it enables networks to tap into pooled economic security, accelerating decentralization in a capital-efficient way. Vertically, it turns existing tokens into multi-purpose assets, like using governance tokens to secure sequencing layers. By making data around validator performance, node distribution, operator quality, and security effectiveness transparent and programmable, it reduces coordination friction and lowers the barrier to deploying decentralized infrastructure. But shared security is just the beginning. While it allows networks to inherit trust more efficiently, it is often implemented in narrow, use-specific ways. What comes next is a broader coordination layer, one where capital can flow dynamically between networks and applications, supporting diverse forms of security, utility, and risk underwriting with customizable rules and shared infrastructure. ## **The Universal Staking Framework** Through engaging with hundreds of builders over the last few months and launching 16 networks on mainnet, we realized that the underlying concept of shared security can be leveraged in ways far beyond what restaking and traditional shared security infrastructure envisioned. What started as a way to coordinate stakers and networks around Proof-of-Stake security revealed a broader design space for incentive alignment and capital coordination. Universal Staking, as developed through Symbiotic, builds on this insight. It generalizes the shared security model into a modular coordination layer that can be applied across use cases, not just for securing consensus, but also for underwriting risk, bootstrapping new protocols, and aligning incentives between diverse actors. For example, lending markets can use it to backstop bad debt, enabling stakers to opt into specific risk profiles with customizable terms. This is no longer just about securing networks, but about unlocking new forms of programmable trust between capital and applications. While the chart below shows that staking has outpaced total crypto market growth since 2021, it also underscores how early we still are. Symbiotic is built to push beyond traditional staking by allowing projects to bootstrap security from external assets, design modular staking systems, and apply staking to use cases like risk underwriting and insurance. The goal is not just to scale staking’s footprint, but to evolve it into a coordination layer for capital, security, and incentive alignment across the onchain economy. ![](/img/symbiotic-blog-staking.png) ### **Key Metrics** * Staking grew from 2.99% to 11.56% of total crypto market cap since 2021. * Restaking emerged from 0 to nearly 1% of total crypto market cap in under 2 years. * While crypto market cap grew 22% YoY since 2021, staking and restaking quietly doubled that at 45%. * At the current trajectory, staking + restaking will reach 50% of crypto market cap in ~8.4 years (around early 2033). *data from [**DefiLlama**](https://defillama.com/), [**StakingRewards**](https://www.stakingrewards.com/), and [**Coingecko**](https://www.coingecko.com/)* ## **Universal Staking Use Cases** ### **Native Staking** Native staking refers to the use of a protocol’s own token to secure and coordinate activity within its ecosystem. While traditionally tied to Proof-of-Stake consensus or governance, Universal Staking reframes native tokens as programmable trust assets, acting as flexible primitives for enabling coordination, enforcing rules, and aligning incentives across modular systems. **Expanded Utility** * Programmable Trust Layers: Native tokens are no longer limited to gas payments or voting power. They can encode slashing conditions, distribute rewards, and coordinate behaviors across trust-minimized components. * Incentive Systems: Models like vote-escrow and revenue sharing allow protocols to design long-term alignment between users, contributors, and applications. * Composable Security: Projects such as Hyperlane show how native staking can be combined with staking on Symbiotic to enforce custom slashing logic and strengthen inter-network security assumptions. * Mesh Security and Cross-Ecosystem Coordination: Native tokens can participate in broader security meshes, where the same asset secures appchains, messaging layers, oracle networks, and more, all at once. **Example** Hyperlane uses HYPER for native staking to encode programmable trust logic within its modular interchain stack. Through Symbiotic, HYPER holders can stake their tokens and secure core components like ISMs. For a deeper look into how Universal Staking powers native trust models, [**check out our blog post on Hyperlane.**](https://blog.symbiotic.fi/hyperlane-native-staking-powered-by-symbiotic/) ### **Insurance and Guarantees** Universal Staking enables programmable collateralization to underwrite risks beyond protocol security, e.g., lending, insurance, or structured financial products. Capital can be orchestrated through slashing conditions, acting as automated enforcement mechanisms. **Expanded Utility** * Bad Debt Protection: Inspired by Aave's vision for shared insurance pools, protocols can create bad debt backstops by pooling staked capital and shared economic security from across the ecosystem. DAOs, curators and lending markets can customize slashing triggers based on default conditions or liquidity thresholds. * Other Structured Products: * Downtime insurance for validators and node operators. * MEV protection funds, where actors stake against misbehavior and get slashed for proven attacks. ### **PoS Implementations, as in Traditional Shared Security** The most familiar application of Universal Staking. It brings PoS-style security to specific infrastructure components, allowing shared security to be applied at a modular level. **Expanded Utility** * **Interoperability protocols** (such as bridges and messaging layers): Stakers post collateral to guarantee message correctness and transaction finality across chains. Slashing enforces honest relaying. * **Oracles:** Stake is used to guarantee accuracy or uptime for price feeds and other data. Misbehavior or failure to deliver correct data can trigger slashing. This extends to MEV-resistant oracle designs and similar integrity-critical systems. * **Sequencers and rollups:** Rollups increasingly rely on shared sequencer and operator sets to decentralize. Universal Staking provides a pooled security layer that helps these systems bootstrap trust assumptions without needing to launch a native token or maintain an isolated validator set. ## **Conclusion** Shared security introduced a powerful primitive. It allowed systems to align incentives and inherit trust without needing to bootstrap from scratch. By enabling networks to coordinate around pooled security, it lowered the capital barrier to decentralization and helped scale early rollups, appchains, and infrastructure layers. Universal Staking is the natural next step. It does not replace shared security but expands its reach. By generalizing the concept beyond validator coordination, it applies the same principles to a broader set of use cases. This includes native staking, risk underwriting, insurance, MEV protection, and incentive design. The result is a flexible and modular coordination layer. Capital, incentives, and enforcement can now be orchestrated across a wide range of applications. The same mechanism that once secured chains can now secure infrastructure, protocols, and entire ecosystems. Symbiotic is the programmable layer that makes this possible. It enables builders to design staking flows, slashing conditions, and validator sets, while continuously enforcing the rules. Universal Staking takes the core promise of shared security and evolves it into a universal building block for the next generation of crypto systems, now fully accessible through the Symbiotic framework. # **Network** ![network](/img/network-overview-learn.png) In Symbiotic, a Network is any protocol that requires a decentralized infrastructure network to deliver a service in the crypto economy, such as enabling developers to launch decentralized applications by validating and ordering transactions, providing off-chain data to applications, or providing users with guarantees about cross-network interactions. Decentralized infrastructure networks can utilize Symbiotic to flexibly source their security in the form of operators and economic backing. In some cases, protocols may consist of multiple sub-networks with different infrastructure roles. The Symbiotic protocol’s modular design allows developers of such protocols to define the rules of engagement that participants need to opt into for any of these sub-networks. ## **Technical Overview** In Symbiotic, networks are represented through a network address (either a contract or multisig) and a middleware, which can incorporate custom and slashing logic. The core protocol’s fundamental functionalities encompass slashing operators and rewarding both stakers and operators. Middleware contracts integrate with Symbiotic Core for stake capture, validator set management, slashing, and optional rewards accounting. Optional means that rewards logic can live in the middleware, while the Network always defines the existence, funding, and source of rewards. The network also has its own operator set, which provides services to the network. The network’s software produces work, emits messages to be attested, and participates in epochs. Here the network admin defines voting power rules and thresholds, message formats, participation and liveness requirements, dispute inputs, and Relay compatibility if it wants cross chain verification. ## **Epoch** A network epoch (let’s name it `NETWORK_EPOCHNETWORK_EPOCH`) is a period while a certain operator set, obtained given the captured stake, operates for the good of the network. The epoch plus the vault’s veto and execute phases’ durations should not exceed the duration of the vault’s epoch to ensure that withdrawals do not impact the captured stake (however, the conditions can be softer in practice). [See Vault Accounting Details](/learn/core-concepts/vault#accounting-and-epochs) ![Learn Network 2](/img/learn-network-2.png) A valid operator set means the validator set captured for the current network epoch is the reference set used for verification and slashing during that epoch. While it remains valid, on chain checks verify signatures against that set and its associated weights, and any slashing decisions are made with respect to those same weights. ## **Staking** The vault allocates stakes by setting limits for networks and operators. Let the Vault be *V*, the Delegator module of the vault is *D* and the Slasher module is *S*. [See Stake Allocating Details](/learn/core-concepts/vault#delegation) Given the current active balance of the vault and the limits, we can capture the stake for the subsequent network epoch: `networkOperatorStake=D.stake(network,operator)` ### **Subnetworks** Instead of creating multiple instances of a network, the Symbiotic protocol allows the creation of multiple subnetworks within the same network. This is similar to an operator having multiple keys instead of creating several instances of the operator. All limits, stakes, and slashing requests are handled by subnetworks, not the main network. This approach diversifies the network’s stake across different staking mechanics. For example, one subnetwork can have high limits and a trusted resolver in the Slasher module, while another subnetwork can have lower limits but no resolver in the Slasher module. The final ID is just a concatenation of the network’s address and the provided `identifier`, so collision is not possible. For simplicity, we sometimes omit the presence of subnetworks and just use the term network. ### **Limits** Limits are set in the vault, and the network cannot control this process (unless the vault is managed by the network). However, the implementation prevents the vault from removing previously given slashing guarantees. Additionally, the network can limit the maximum amount of stake it wants to use via the `D.setMaxNetworkLimit()` method. ### **Staking Lifecycle:** 1. The network registers by calling `NetworkRegistry.registerNetwork()`. 2. Operators register by calling `OperatorRegistry.registerOperator()`. 3. The operators must opt into the vault and the network. 4. Stakers deposit funds into the vault. 5. The network sets a maximum stake amount for the vault by calling `D.setMaxNetworkLimit(identifier, amount)`. 6. The `NETWORK_LIMIT_SET_ROLE` holder defines the stake limit for the network. 7. The `OPERATOR_NETWORK_LIMIT_SET_ROLE` holder defines the stake limit for the operator-network pair. The current stake amount cannot be withdrawn for at least one epoch, although this restriction does not apply to cross-slashing. ### **Operator Set** The network has the flexibility to configure an operator set within the middleware, later to be used as a validator set (a.k.a. valset) for its validating. ![Learn Network 3](/img/learn-network-3.png) The following functions could be useful: * `D.stakeAt(subnetwork, operator, timestamp, hints)`: Determines minimum stake eligibility. Note that the sum of operators’ stakes may exceed the network’s total stake, depending on the network’s and operators’ limits in the delegator module. * `OptInService.isOptedInAt(operator, subnetwork, timestamp, hint)`: Checks the opt-in status. ## **Slashing** [See Slashing Details](/learn/core-concepts/slashing) For each operator, the network can obtain its stake which will be valid during $d=vaultEpochd$. Through its middleware, the Network initiates slashing when provable misbehavior occurs according to Network‑defined rules. Slashing protects stakers from dishonest or idle operators and protects Networks from operators taking stake without performing required work. Symbiotic Core enforces objective bounds so only stake guaranteed at capture can be burned. A slashing request must reference a capture timestamp that is no more than one vault epoch old, not exactly equal to the epoch boundary. Requests can arrive at any time within this sliding window. Requiring equality would cause legitimate slashes to fail around boundaries. Note that the actual slashed amount may be less than the requested one. 1. This may be influenced by cross-slashing. ![Learn-Network-4](/img/learn-network-4.png) 1. This may be influenced by slashings by the network itself, as the consequent valsets may depend on the stake used for the creation of the previous valsets. ![capture-timestamps-2](/img/learn-network-5.png) 1. In the case of a task-like system, where each task is backed by the corresponding operator’s stake, this may be influenced by slashings by the network itself if the operators have a pooled stake. ![capture-timestamps-3](/img/learn-network-6.png) The network can slash the operator within the vault only if 1. The operator is opted into the vault 2. The operator is opted into the network To initiate a slashing process, a network should call: 1. `slash(subnetwork, operator, amount, captureTimestamp, hints)` for the Slasher module. 2. `requestSlash(subnetwork, operator, amount, captureTimestamp, hints)` for the VetoSlasher module. The module will check the provided guarantees at the $*captureTimestamp*$, denoted as $*G.*$ It also calculates cumulative slashings from the $captureTimestamp$ to the current moment, denoted as $*C*$. It is guaranteed that for every correct $captureTimestamp$, $C≤G$. The module will allow slashing no more than $G−C$ to justify the given guarantees. ## **Operating Lifecycle** A network can use flexible mechanics to keep its operator set state up-to-date, e.g., it’s convenient to use a conveyor approach for updating the stakes while keeping slashing guarantees for every particular version of the operator set: 1. At the beginning of every epoch the network can capture the state from vaults and their stake amount (this doesn’t require any on-chain interactions). 2. After this, the network will have slashing guarantees for one vault epoch duration, so it can use this state at most for one vault epoch. 3. When the epoch finishes and a slashing incident has taken place, the network will have time equal to the vault epoch duration minus the network epoch to request-veto-execute slash and go back to step 1 in parallel. ![vault-conveyor](/img/learn-network-7.png) ## **Rewards** See [Learn: Rewards](/learn/core-concepts/rewards) to learn more about reward distribution mechanisms. ## **Relay SDK Integration** All of this can be cumbersome to scope, implement, and maintain from scratch. That is why Symbiotic provides the Relay SDK, a set of contracts and off chain components that let networks capture stake through Symbiotic, track operator sets and voting power, aggregate signatures, and plug into slashing without rebuilding their own verification layer. Using the Relay SDK, a network can verify the same work across multiple EVM chains, aggregate operator signatures off chain and verify them once on chain, and significantly reduce verification costs while keeping its existing governance, message formats, and slashing rules unchanged. # **Operator** Operators run the software that keeps decentralized networks alive. They include node operators or validators that run consensus and network-specific binaries, sign messages for bridging and oracles, or strategy operators such as risk managers and AI agents that execute DeFi strategies on behalf of a network. Within Symbiotic, operators can receive stake from different vaults and route it to the same set of nodes for a given network. The protocol maintains a registry of operators and records their activity so networks and curators can make informed choices. The registry covers which networks an operator has opted into, which vaults are connected and how much restaked collateral came from them, and a history of slashes and other on chain interactions. This setup lets operators aggregate stake from many sources, including institutional vaults, operator specific vaults, or LRTs with different risk profiles, without spinning up separate infrastructure for each one. A single node stack per network can secure multiple partners, as long as all parties have opted in. ![operator-rel](/img/operators-get-started.png) In Symbiotic, an operator is either an externally owned account or a contract registered in the OperatorRegistry. ## Operator onboarding At a high level, onboarding an operator involves three steps. 1. Register the operator entity in the operator registry so it can be referenced by vaults and networks: Call `OperatorRegistry.registerOperator()` in `OperatorRegistry`. 2. Opt into the networks the operator wants to serve. Each network decides whether to include the operator in its active set based on criteria such as performance history, reputation, stake, and reliability. This is achieved by calling the `optIn()` method in `OperatorNetworkOptInService` . 3. Opt into the vaults that may allocate stake to that operator. This is achieved by calling the `optIn()` method in `OperatorVaultOptInService`. Curators then configure limits or shares so the Delegator can route stake to the operator within each network’s bounds. The address that holds `OPERATOR_NETWORK_SHARES_SET_ROLE` or `OPERATOR_NETWORK_LIMIT_SET_ROLE` for the vault assigns stake to the operator by calling either: * `D.setOperatorNetworkShares(...)`, or * `D.setOperatorNetworkLimit(...)` depending on the Delegator type used by the vault. Stake becomes eligible for slashing only when the operator has opted into both the network and the vault at the time stake is captured for an epoch. ![operator-rel](/img/operators-onboarding.png) ## Working with Vaults and Networks ### Vaults Vaults are where stake lives. Curators decide which operators are admissible for a vault and how much stake each one can receive. They set per operator limits or shares and may adjust them as conditions change. The Delegator module uses these settings, together with opt ins, to determine how much effective stake each operator has per network. ### Networks Networks are where operators perform work. An operator opts into a network in order to validate it or to provide a defined service. Based on its own criteria, each network independently decides whether to include the operator in the active operator set. The network’s software produces work, emits messages or commitments to be attested, and participates in epochs. Here the network defines voting power rules and thresholds, message formats, participation and liveness requirements, dispute inputs, and how it integrates with the Relay if it needs cross chain verification. ### Aggregation For a single network, an operator can combine stake from multiple vaults into one node stack as long as: * the operator has opted into that network * the operator has opted into those vaults * curators have allocated stake to the operator within each network limit This allows operators to build one hardened infrastructure per network and receive stake from many partners without fragmenting their setup. ### Subnetworks and Keys Some networks split responsibilities into subnetworks. Limits, stake capture, and any penalties apply per subnetwork. Operators should plan key management and operations with that boundary in mind, for example by running distinct keys or processes per subnetwork where needed. ## Relay integration All of the above can be implemented with custom network logic, but wiring cross chain verification, aggregation, and stake capture from scratch is complex. Symbiotic provides the Relay SDK so networks and operators can plug into a common framework instead. If a network uses the Relay SDK: * The Relay uses the operator registry and voting power from Symbiotic to build the operator set for that network. * Operators can run a small Relay sidecar that helps collect signatures, aggregate them, and submit commitments so verification remains efficient across EVM chains. * The same operator set and stake that secure the network can be reused to attest on multiple chains, reducing costs and integration effort while keeping the network’s governance and rules unchanged. From the operator perspective, Relay integration mainly means running an additional, lightweight process that works alongside their existing nodes and keys, rather than rewriting their own cross chain logic. ## Penalties and Slashing Once an operator has opted into a vault and a network, and stake has been captured for an epoch, that stake becomes subject to slashing according to the network rules and the vault configuration. If an operator fails to perform services according to those rules, the network middleware can raise a slashing request against the operator’s stake. On Ethereum style systems this includes faults such as double signing or other consensus violations. The vault’s Slasher module validates slashing requests and, if they are correct and within the defined guarantees, applies penalties to the operator’s stake and invokes the vault’s Burner to decide what happens to the penalized collateral. Some setups allow immediate execution of valid slashes, while others introduce a short veto or review window, depending on the Slasher type chosen by the curator and the network. ## Rewards Operators need to be compensated for the services they provide and the risk they take. Networks pay operators from the value they generate, for example protocol fees, payments from external clients who use their services, or token inflation allocated to security and operations. See [Learn: Rewards](/learn/core-concepts/rewards) to learn more about reward distribution mechanisms. # **Vault** A vault is the on-chain container that holds collateral and connects it to networks. Each vault holds a single collateral token, tracks deposits and withdrawals, and exposes policy hooks for delegation and slashing. Delegation is pure accounting: collateral remains in the vault and only leaves through user withdrawals or executed slashing. Vaults are built from three core modules: 1. **Accounting (Vault)**: handles deposits, withdrawal requests and claims, epoch timing, and processing of penalized collateral. 2. **Delegation (Delegator):** applies curator limits or shares for each network and each operator and implements the stake distribution logic. 3. **Slashing (Slasher or VetoSlasher)**: validates slashing requests against captured guarantees and applies penalties. ![Learn Vault 1](/img/learn-vault-1.png) Rewards are not built into vaults. Networks can leverage Symbiotic’s rewards contract template, which is designed to facilitate interactions with vaults and capture stake. ## Accounting and Epochs ### Lifecycle Symbiotic makes most mechanics configurable but gives strict guarantees around the period when stake is slashable. The vault lifecycle revolves around four actions: deposit, withdraw, slash, and resolve. Collateral comes into the vault through deposits, can be requested for withdrawal, may be penalized through slashing, and is then processed according to the configured policy. ![Learn Vault 2](/img/learn-vault-2.png) ### Epochs Epochs are a core mechanism that balance user liquidity with network security. Networks rely on operators having a stable amount of slashable stake during a period, while users want to request withdrawals at any time. Vaults achieve this with an epoch based withdrawal system rather than simple time delays. Users can submit withdrawal requests at any time. Those requests are collected and become claimable after the end of the next vault epoch. Until that boundary, the requested amount remains eligible for slashing. Epochs are consecutive and all have the same length. The epoch length is set at vault deployment. A longer epoch gives more time to observe networks and execute slashes but slows withdrawals; a shorter epoch has the opposite effect. Requested withdrawals therefore remain slashable until the next epoch boundary. This is what allows networks to rely on the guarantees they receive from stake captures. ### Deposits Any address allowed by the vault access policy may deposit the collateral token. By depositing, a user opts into the vault configuration and curator, since the vault risk profile and returns depend on that management. Deposits increase the user balance and the vault active stake used for delegation and guarantees. Each vault is bound to a single collateral token. ![Learn Vault 3](/img/learn-vault-3.png) ### Withdrawals Depositors can request withdrawals at any time. The process has two stages. First, the user submits a withdrawal request and the amount is marked as pending but remains slashable until the end of the next epoch. Second, after that next epoch ends, the user can claim funds at any time without further slashing risk. This keeps operator stake effectively stable within an epoch while giving users predictable exit timing. ![Learn Vault 4](/img/learn-vault-4.png) ## Delegation Delegation translates vault balances and curator policy into effective stake for each network and each operator. The Delegator module lets each network set a maximum amount of stake it is willing to accept from a given vault, lets curators set per network and per operator limits or shares within those bounds, and aggregates all inputs to return the stake of a given operator on a given network at a given time. Stake always depends on three elements: 1. the vault active stake, meaning funds that have not been fully withdrawn 2. operator opt ins to the vault and to the network 3. the limit that the network set for this vault Some Delegator types also take per operator limits or shares into account. After a slashing event, Delegators do not automatically change limits. If automatic reactions are desired, they can be introduced through hooks. ![Learn Vault 5](/img/learn-vault-5.png) ### Delegator Types Symbiotic supports several Delegator types to cover different delegation topologies. 1. **Network Restake Delegator** Allows restaking across multiple networks while keeping operators inside the same network independent from each other. Curators set a limit for each network within the network maximum and set shares for each operator. Operator stake in a network is the vault and network stake multiplied by the operator share over the sum of shares. This is convenient for liquid restaking providers or curators whose main role is to raise and allocate funds rather than operate nodes. 2. **Full Restake Delegator** Restakes across multiple networks and multiple operators at once. Curators set a limit for each network and a limit for each operator. Operator stake is capped by the active stake, the network limit, and the operator limit. This is useful for insurance style designs where a shared pool backs many parties. 3. **Operator Specific Delegator** A simplified version of the Network Restake type with a single operator per vault. Curators set only the network limit. Stake per network is capped by the active stake and the network limit. This lets an operator run its own vault with restaking across networks while giving networks more confidence that allocations are under the operator direct control. 4. **Operator Network Specific Delegator** The most conservative type with a single network and a single operator. Stake is capped by the active stake and the network maximum limit. From the network perspective this resembles a traditional single operator staking arrangement, although there can still be many vaults per network. ### Delegation Topologies These Delegator types correspond to different combinations of how many networks and how many operators a vault can serve. 1. **Multi Network and Multi Operator (MN, MO)** gives maximum capital reuse and restaking with more shared risk. ![Learn Vault 6](/img/learn-vault-6.png) 2. **Multi Network and Single Operator (MN, SO)** gives operator specific vaults with strong operator isolation while still supporting restaking. ![Learn Vault 7](/img/learn-vault-7.png) 3. **Single Network and Multi Operator (SN, MO)** isolates network risk but shares operator risk and is often used by liquid staking providers or network treasuries. ![Learn Vault 8](/img/learn-vault-8.png) 4. **Single Network and Single Operator (SN, SO)** gives maximum isolation and minimum reuse and is often used for curator free or immutable arrangements. ![Learn Vault 9](/img/learn-vault-9.png) | **Properties \ Delegation type** | **MN, MO** | **MN, SO** | **SN, MO** | **SN, SO** | | -------------------------------- | --------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------- | -------------------------------------------------- | -------------------------------------------------------------- | | Restaking supported | ✅ | ✅ | ❌ | ❌ | | Potential curators | LRT, Institutional restaking | Operator | LST, Network DAO | Users | | User delegation model | Delegate to the curator as an entity to use stake for multiple operators in multiple networks | Delegate to the operator as an entity to use stake in multiple networks | Delegate to curator to use stake in single network | Delegate to the operator in the network directly (No curators) | | Stake isolation for networks | ❌ | ❌ | ✅ | ✅ | | Stake isolation for operators | ❌ | ✅ | ❌ | ✅ | ## Slashing and Burner ### Slasher Module The Slasher module enforces slashing penalties. It does not detect misbehavior itself; instead it processes slashing requests from network middleware. A slashing request names the subnetwork, the operator, the amount to penalize, and a capture timestamp. The capture timestamp is the moment when the network fetched stake and received a guarantee that those amounts would remain slashable for one epoch. When executing a request, the Slasher checks that the capture timestamp is not older than one vault epoch and that the requested penalty does not exceed the remaining guarantee for that snapshot after previous slashes that used the same capture. When a request arrives, the Slasher retrieves stake information from the Delegator and prior slashes for the same snapshot, validates that the request respects the guarantee, and if it is valid, updates internal state, notifies the Delegator where needed, and calls the vault and Burner to process the penalized collateral. In restaking scenarios, guarantees can be affected by slashing that happened on other networks. This comes from the nature of restaking and cannot be fully avoided. ### Slasher Types There are currently two Slasher types: 1. **Slasher**: executes valid slashing requests as soon as they are confirmed correct. It is simple and transparent but less flexible. ![Learn Vault 10](/img/learn-vault-10.png) 2. **VetoSlasher**: adds a veto period. The network middleware submits a request, the contract validates it, and then a resolver, if configured, has a window of time to veto the request. If no veto occurs, the middleware can execute the slash after the window expires. This design helps networks and stakers transition from early deployments to fully trusted settings with an extra layer of review. ![Learn Vault 11](/img/learn-vault-11.png) ### Burner Once a slash is approved and executed, the Burner decides what happens to the penalized collateral. The Burner is a configurable contract that can unwrap tokens, burn them, redistribute them to users or well behaved operators, send them to a treasury or insurance pool, or forward them to custom logic. Burning is not mandatory and redistribution is a valid outcome. ![Learn Vault 12](/img/learn-vault-12.png) ## Rewards Vaults do not define reward logic. They only provide the stake that secures networks and operators. Each network decides how staker and operator rewards are funded and delivered, for example from protocol fees, revenues from external clients, or token inflation. Symbiotic reward extensions give networks standard ways to distribute these flows, but the vault itself remains focused on holding collateral and enforcing guarantees. ## Vault Types and Access Vaults are configurable templates. Different collateral tokens, epoch lengths, delegator types, access policies, and slashing settings produce different vault types. Each vault still holds a single collateral token; multi-asset exposure is achieved by using multiple vaults. ### Public and Private Vaults Public vaults accept deposits from anyone who holds the collateral token, subject to any global caps defined by the curator. Private vaults accept deposits only from allowlisted addresses. Liquid restaking providers, liquid staking providers, funds, and institutions often run private vaults and allocate across several Symbiotic vaults on behalf of their users. ### Immutability Options Vaults can be deployed in two broad ways. They can be immutable, with key parameters locked at deployment and no ongoing curator discretion, which reduces governance risk. They can also be upgradable within constrained surfaces, where certain parameters can be updated under defined rules. These choices, together with the Delegator type, slashing style, and access policy, define the risk and behavior profile of each vault in the Symbiotic ecosystem. # **Curator** Curators set and maintain a vault’s policy. They decide how stake is spread across networks and operators, what kind of slashing flow applies, and who can deposit. Stakers choose a vault because they trust the curator’s discipline on risk, timing, and counterparty selection. In single-operator vaults, the operator can also act as curator. In immutable vaults, key parameters are locked at deployment, removing ongoing curator control: this reduces governance risk but also removes flexibility. ## Interactions and Vault Configuration You don’t need every internal detail, but you should know the main pieces you are indirectly steering and the key functions involved. * **Vault and VaultFactory / configurator** The vault holds collateral, tracks deposits and withdrawals, and enforces epoch-based exits. New vaults are typically created through a configurator that wraps the factories, for example a helper like `VaultConfigurator.create(initParams)` which, under the hood, calls `VaultFactory` and related factories to deploy the `Vault`, its `Delegator`, and its `Slasher`. * **Delegator (stake allocation)** The Delegator decides how vault stake is allocated across networks and operators. As a curator you mainly use functions such as `setNetworkLimit()` to define how much stake this vault can send to a network, and `setOperatorNetworkLimit()` or `setOperatorNetworkShares()` to shape stake per operator, depending on the Delegator type. :::note The `setNetworkLimit()` / `setOperatorNetworkShares()` methods above apply to Vault V1 and older delegator-based vaults. In **Vault V2**, curators allocate through the **Universal Delegator** (`allocateAll()`) instead — see [Manage Allocations](/integrate/curators/manage-allocations). ::: * **Slasher (penalties)** The Slasher applies penalties when a network requests them (via a function like `slash()`). As curator you choose the Slasher type (instant or vetoed) and its timing parameters, such as the veto window, when you create the vault. * **Burner (what happens to slashed collateral)** The Burner is a contract address you pass when the vault is created. It decides what happens to slashed collateral: burn, redistribute, send to a treasury or insurance pool, or route to custom logic. You also rely on: * an **OperatorRegistry** and **NetworkRegistry**, which define which operators and networks exist * **opt-in services** (for example calls like `OperatorVaultOptInService.optIn(vault)` and `OperatorNetworkOptInService.optIn(network)`) so that operators can receive stake from your vault once you allocate it ## Vault Strategy Think of your work in three phases: design, deploy, and wire. ### Design the policy First, decide what the vault is supposed to do, in plain language: * which networks you want to support * how diversified or concentrated you want to be across operators * ceilings per network and per operator * whether slashing should be instant or have a short veto window * how you expect rewards and risk to trade off This is the document stakers and operators will read. Everything else is just encoding this policy on chain. ### Deploy the vault Next, you create the actual vault and its modules in a single step with a configurator call, for example: `solidity (Vault vault, address delegator, address slasher) = VaultConfigurator.create(initParams); ` In the `initParams` you choose, among other things: * the collateral token * the vault epoch duration * the Delegator type (multi-network, single-network, operator-specific, etc.) * the Slasher type (instant or vetoed) and, for vetoed flows, the veto duration * the Burner contract that will handle slashed collateral * access control, such as whether deposits are public or allowlisted This is where you lock in the big structural choices: what the vault secures, how fast people can exit, which delegation topology it uses, and how slashing is handled. ### Wire stake limits and allocations Once the vault exists, you configure how it actually allocates stake. In practice that means: * For each network you want to support, setting a vault-side limit with a call like `delegator.setNetworkLimit(subnetwork, amount)` which says “this vault can send up to this much stake to this network or subnetwork”. * After operators have opted into your vault and into those networks, setting their allocations using, depending on the Delegator type: `setOperatorNetworkLimit(subnetwork, operator, amount)` for hard caps, or `setOperatorNetworkShares(subnetwork, operator, shares)` for share-based routing. These limit and share calls are the core knobs you use to express your strategy on chain. ## Managing Stake Once the vault is live, your job is mostly careful, occasional adjustments rather than constant tweaking. Typical ongoing actions: * revisiting network limits and operator allocations if performance, risk, or demand changes * nudging the strategy toward more or less concentration, by changing limits or shares rather than redeploying the entire vault * keeping the written policy up to date with any material changes you make on chain You generally do **not** need to touch the factories again. Most day-to-day stewardship happens through the Delegator functions that set limits and shares, and through off-chain communication when you add or remove networks and operators. ## Risk and Timing Even with a good strategy, the details of timing and partners matter. A few simple checks go a long way. ### Collateral and reward quality * Make sure the collateral token you pick at vault creation has clear economic value and reasonable liquidity. * Prefer networks that offer rewards that match the risk taken: protocol fees, revenues from external clients, or controlled token inflation with a clear purpose. If the collateral is low quality and networks do not pay fairly, you risk running a vault that takes real slashing risk while barely compensating stakers. ### Epochs and veto windows * The vault epoch duration you set at creation defines how long withdrawals take and how long stake remains slashable after it is “captured” by a network. * If you choose a vetoed Slasher, keep the veto window well below the vault epoch. Networks need time to detect misbehavior, submit a slash, and wait out the veto period before the vault epoch ends. A simple mental model: > network’s own epoch and proof delay > > plus the veto window (if any) > > plus the time it takes to submit and finalize the slash > > should fit comfortably inside the vault epoch If that does not hold, networks may not be able to slash in time, and the economic guarantees you think you are providing become weaker. ### Network and operator choices The settings you choose in `setNetworkLimit`, `setOperatorNetworkLimit`, and `setOperatorNetworkShares` express your risk appetite. * Treat the network limit as a risk budget for that network. Conservative vaults use lower limits and fewer networks; more aggressive vaults use higher limits and more networks, but should be explicit about correlated risk. * When you allocate to operators, avoid over-concentrating on a single one unless that is very clearly part of the thesis. Slashing events will hit stakers in proportion to those allocations. Your operator and network choices affect not just returns, but your reputation as a curator. ### Contract health and extreme cases * Be careful when changing access control and deposit limits to avoid locking the vault unintentionally. * If the vault ever experiences a full (one hundred percent) slashing event, it is often cleaner to deploy a new vault, rather than trying to reuse the same one repeatedly. The history stays clear and future stakers know exactly what they are opting into. * If you use fee-on-transfer collateral together with redistribution of slashed funds, be aware that the fee logic will introduce unavoidable losses during redistribution; that trade-off should be explicit in your policy. ## Vault Profiles The same contracts and functions can describe very different vault “shapes”. Two common ones: ### Diversified and conservative * Several networks with moderate network limits * Many operators, each with modest per-operator limits or fairly even shares * A vetoed Slasher with a resolver set and a longer vault epoch * Focus on capital preservation and strong guarantees over maximum throughput ### Throughput and concentration * Fewer networks with higher network limits * A smaller set of top-tier operators with larger limits or shares * An instant Slasher and a medium or shorter epoch * Focus on fast settlement, high utilization, and more aggressive risk taking You can treat these as anchor points and position your own vault somewhere in between, depending on who it is for. ## When active curation is minimal or not needed Some vault designs intentionally minimize ongoing curator work. * **Single-network, single-operator designs** often use a Delegator type that effectively hard-codes the network and operator at creation time. After a basic network limit is set, there may be little left to adjust. * **Immutable, pre-configured vaults** are created once with a fixed configuration and no roles that can change core behavior later. Users opt into a static design rather than a curator’s future decisions. In those cases, your job as the original curator is mostly to make sure the initial configuration and documentation are correct and to be transparent that the vault will not change over time. # **Rewards** Rewards are payments that Networks make to vault participants in exchange for security and work. Rewards are distributed using historical snapshots of vault state, so each participant is paid based on the exact state of the vault at the chosen timestamp. Rewards may come from protocol fees, scheduled token emissions, external client payments, or amounts routed from slashing (via Burner policy). Symbiotic does **not** dictate the economics; it provides the on-chain contracts that make accurate distribution and claims possible. ![rewards-flow (1).png](/img/rewards-flow.png) ## Rewards mechanism overview The Rewards system enables Networks to distribute rewards to vault participants using historical snapshots of vault activity. This ensures rewards are calculated from the exact state of vault participation at a specific timestamp, with fees applied according to the rates active at that time. :::info Rewards support two mechanisms: `VaultSnapshotRewards` and `CumulativeMerkleRewards`. While `CumulativeMerkleRewards` implements common approach for arbitrary token distributions, this article focuses on `VaultSnapshotRewards`, as it is deeply integrated into Symbiotic vaults, including operator and curator fee splits and direct on-chain calculations based on vault shares. ::: ## Registries ### FeeRegistry `FeeRegistry` stores fee configurations. It manages three fee types: * **Operator fees** * **Curator fees** * **Protocol fees** Fee configuration uses a two-level hierarchy with default rates and network-specific overrides. When a distribution is created, the registry returns the fee rates that were active at the distribution timestamp. ### CuratorRegistry `CuratorRegistry` manages vault-to-curator mappings. Each vault has one curator at any time. The curator can configure and claim fees for a vault, with authorization following this order: 1. Vault owner sets the initial curator. 2. The current curator can update curator settings. 3. If no curator exists, the vault owner can set a new curator. ## Rewards contract interface The `Rewards` contract provides a unified interface for the reward mechanisms. ### Core functions `claimRewards()` Routes reward claims to the appropriate mechanism based on the encoded reward type. For snapshot-based rewards, it extracts the vault snapshot data and processes the claim. `distributionToTotalAmount()` Calculates the total amount required to fund a distribution including protocol fees. This helps Networks determine the correct total amount when they want a specific net distribution. `totalToDistributionAmount()` Performs the reverse calculation, converting a total amount back to the net distribution amount after protocol fees. ## How rewards are distributed Networks or their authorized middleware distribute rewards by calling the snapshot distribution function with a historical timestamp. The process follows these steps: 1. **Validate entities**: confirm network and vault registration 2. **Capture historical state**: query the vault’s total active shares at the distribution timestamp 3. **Calculate fee splits**: use `FeeRegistry` to fetch the curator and operator fee rates active at that timestamp 4. **Store the distribution**: record net amounts for each participant type in the distribution ## How participants claim rewards ### Stakers Stakers claim their proportional share based on vault shares at the distribution timestamp: `(staker shares / total shares) × reward amount` ### Operators Operators claim fees based on the delegator type: * **NetworkRestake**: proportional to the operator’s network shares * **OperatorSpecific/OperatorNetworkSpecific**: full amount for designated operators * **FullRestake**: no operator fees ### Curators Curators claim accumulated fees through the claim function. `CuratorRegistry` validates that only the current curator can claim these fees. ## Fee calculation model The system uses a fee deduction model where fees are subtracted from the gross amount provided by the distributor: 1. Protocol fees are deducted first. 2. Curator fees are calculated using historical rates from `FeeRegistry`. 3. Operator fees are calculated using historical rates from `FeeRegistry`. 4. Net staker amount is the remaining distribution amount after curator and operator fees. :::info The registry system ensures fee configurations and curator permissions are properly tracked over time. This allows the Rewards system to calculate distributions accurately for any historical timestamp, preserving fairness and consistency for all participants. ::: # **Slashing** Slashing is how a Network penalizes operators for provable misbehavior. A Network’s middleware sends a slashing request to the vault; the vault’s Slasher module checks timing and amount constraints; if the request is valid, the vault reduces the operator’s effective stake and forwards the penalized collateral to a Burner, which applies the vault’s policy (burn, redistribute, route, etc.). The goal is for penalties to be **executable**, **bounded**, and **auditable**. ## Slasher module The Slasher is the vault module that enforces penalties. It does not detect faults itself. Instead it: * reads stake data from the Delegator (how much stake an operator had in a subnetwork at a given time) * reads its own internal record of previous slashes for the same snapshot * validates a new request against those guarantees * if valid, updates its internal records, informs the Delegator if needed, and calls the vault/Burner to handle the tokens A vault can be deployed with one of three slashing modes: * **No slashing** — slasher address is zero; the vault can never be slashed * **Slasher** — instant execution as soon as a valid request arrives * **VetoSlasher** — a request plus a short veto window, then execution if no veto occurs Once chosen at deployment, the slashing model for a vault is fixed. The shared flag `isBurnerHook` controls whether the Burner must be invoked on each slashing event (for example, to unwrap derivatives or forward to another contract). ## Capture timestamp and guarantees Networks do not slash against arbitrary state. They first **capture** stake at a particular time, then slash against that snapshot. When a Network fetches stake at some point in time (the *capture timestamp*), it receives a guarantee that the captured amount of collateral will remain slashable for **one vault epoch** after that timestamp. When the Slasher later executes a request, it checks: 1. The capture timestamp is not older than one epoch. If it is, the request is considered stale and rejected. 2. The requested amount does not exceed the remaining guarantee for that capture after accounting for any earlier slashes that used the same snapshot. This is what makes slashes bounded: you cannot request more than the guarantee tied to that capture. In restaking setups, a slash on one Network can reduce the guarantee left for others, because they share collateral. That is a property of restaking, not a bug in the Slasher. The capture bound still applies: across all Networks together, you cannot take more than was guaranteed at that snapshot. ## Execution flow Every penalty follows the same basic flow, regardless of Slasher type. 1. **Submit** Network middleware calls the Slasher with a slashing request that includes the subnetwork, operator, amount, and capture timestamp. 2. **Check** The Slasher pulls stake data for that capture from the Delegator, aggregates previous slashes for the same snapshot from its own storage, and verifies: * freshness (capture within one epoch), and * bounds (requested amount ≤ remaining guarantee). 3. **Optional veto (VetoSlasher only)** If the vault uses VetoSlasher, the request enters a veto period. For `vetoDuration` seconds after creation, any configured resolver can veto the request. A `resolverSetEpochsDelay` parameter controls how long it takes for newly set resolvers to become active, measured in vault epochs. 4. **Apply** If the request passes checks (and veto, if applicable), the Slasher: * records the penalty so future requests against the same capture see reduced remaining guarantee * triggers any Delegator hook if configured * calls the vault/Burner to actually process the penalized collateral ## Slasher types **Slasher (instant)** A straightforward module: validate and execute in a single step. There is no on-chain dispute window. This is appropriate when fault conditions and evidence are clear and mature, and the Network is comfortable with immediate penalties. ![Learn Vault 10](/img/learn-vault-10.png) **VetoSlasher** Adds an on-chain review window. The flow is “request → veto window → execution”: * Request: middleware submits and VetoSlasher validates. * Veto: resolvers have `vetoDuration` seconds to veto. * Execution: if no veto is recorded, the Network calls execute and the penalty is applied. `resolverSetEpochsDelay` enforces that new resolvers only become active after a minimum number of vault epochs, giving users a chance to exit before a change in the dispute set takes effect. ![Learn Vault 11](/img/learn-vault-11.png) **No slashing** Slasher is set to address(0). The vault cannot be slashed at all. This degrades the economic security guarantees for Networks and should be an explicit design choice. ## Burner Once a slash is approved, the Slasher delegates the token handling to the Burner. The Burner defines what happens to penalized collateral. Typical patterns include: * unwrapping derivative collateral and burning the underlying * redistributing all or part of the penalty to stakers or well-behaving operators * sending funds to a treasury or insurance pool * locking tokens or routing them to another contract for protocol-specific logic The Burner is configured per vault at deployment and is not automatically changed by slashing events. Burning is optional; redistribution is a valid outcome if it matches the vault’s policy. ## Participation and isolation A slashing request only applies if, at the capture timestamp: * the operator had opted into both the vault and the Network (including the relevant subnetwork), and * the Delegator reports positive effective stake for that operator in that subnetwork. If either condition fails, the request is rejected. This ensures Networks cannot accidentally penalize non-participants. Whether a slash affects only one Network or multiple depends on the vault’s delegation model: * **Single-Network / single-operator vaults** give strong isolation: a penalty for one Network does not spill over to others because the collateral is not reused. * **Multi-Network restaking vaults** share collateral across Networks. A penalty in one Network reduces what remains for others, but each individual penalty is still capped by its capture-time guarantee and checked by the Slasher. ## Timing constraints To keep slashing executable, the following must fit inside the vault epoch: * the Network’s own epoch and finality / detection delay * any off-chain time to build and submit a slashing request * the veto period (`vetoDuration`), if using VetoSlasher * the time to send and finalize the execution transaction If downstream systems (for example, a dispute layer) require longer resolution, the vault’s `epochDuration` should be set high enough so that valid slashes can still be committed and executed before the guarantee expires. # **Registries and Opt-ins** ## Registries Registries give Networks and Operators a canonical on-chain identity that the rest of Symbiotic can reference. ### NetworkRegistry Stores all Networks that can receive stake, be captured, and issue slashes or rewards. A Network registers once (for example via `registerNetwork()`), then: * can be discovered by vaults, operators, and tooling * can be linked to its middleware, which is the only address allowed to send slashing and rewards requests on its behalf Only registered Networks can set per-vault limits and interact with Slasher and Delegator modules. ### OperatorRegistry Stores all Operators (EOAs or contracts) that can receive stake and be slashed. After registering (for example via `registerOperator()`), that operator ID is used everywhere: * opt-in services track operator–vault and operator–network opt-ins * vault Delegators use it when returning effective stake * slashers reference it when enforcing penalties Unregistered operators cannot be allocated stake. (Other registries such as token or collateral registries are used similarly: they define which assets are valid and how they are handled, but they do not change the opt-in rules.) ## Opt-ins Opt-ins establish **consent and scope**. They define which combinations of vault, operator, and network are actually allowed to interact, so that: * a Network can only penalize stake that was explicitly made available to it * a vault can only allocate to operators that agreed to serve it * an operator can only be evaluated for Networks it chose to join This keeps slashing and rewards precise and prevents accidental penalties. ### Opt-in surfaces Opt-ins live at the contact points between roles: * **Operator → Vault** via `OperatorVaultOptInService` The operator opts into a specific vault (and can later opt out). Without this, the vault cannot allocate stake to that operator. * **Operator → Network** via `OperatorNetworkOptInService` The operator opts into a Network (and its subnetworks) it is willing to serve. * **Network → Vault** via the vault’s Delegator The Network expresses willingness to accept stake from a vault by setting a per-vault maximum, e.g. `setMaxNetworkLimit(subnetwork, maxStake)`. * **Vault → Network and Operator** via Delegator configuration The curator allocates stake by setting non-zero limits or shares for a Network and for each operator inside that Network (for example `setNetworkLimit()`, `setOperatorNetworkLimit()`, or `setOperatorNetworkShares()` depending on Delegator type). :::note The `setNetworkLimit()` / `setOperatorNetworkShares()` methods above apply to Vault V1 and older delegator-based vaults. In **Vault V2**, curators allocate through the **Universal Delegator** (`allocateAll()`) instead — see [Manage Allocations](/integrate/curators/manage-allocations). ::: **Eligibility rule** An operator is actually eligible for stake in a given Network through a given vault only if, at the relevant timestamp: * the operator is opted into that vault * the operator is opted into that Network * the Network has set a non-zero max limit for that vault * the vault’s Delegator has a non-zero limit or share for that operator in that Network If any of these are missing, the Delegator returns zero stake and the Slasher will reject penalties for that pair. ### Timing and capture Opt-ins are time-aware. All checks are evaluated at the **capture timestamp** the Network includes in its request: * when a Network captures stake at time *T*, it receives a guarantee that the reported amounts remain slashable for one vault epoch after *T* * when a slashing request is executed, the Slasher verifies that the capture timestamp is no older than one vault epoch and that all required opt-ins and limits were in place at that time Opt-outs and limit changes are **forward-looking**: * if an operator opts out today, a Network can still slash for misbehavior tied to a capture from yesterday, as long as the capture is still inside the epoch window * new captures taken after the opt-out will see zero stake and cannot be used for future penalties ### Lifecycle and revocation Each participant can change its opt-ins at any time: * operators can opt in / opt out of vaults and Networks (or invalidate signatures) * Networks can raise or lower per-vault max limits * curators can adjust per-network and per-operator limits and shares These changes affect **future** captures and allocations. Previously captured guarantees remain valid until they age out of the epoch window. This prevents last-minute exits from making valid penalties impossible to execute. ## Vault access vs opt-ins Deposit access and opt-ins are separate: * vault-level settings such as `depositWhitelist`, `depositLimit`, and their admin roles control **who can deposit** and **how much collateral** can be active * opt-ins and Delegator limits control **who can be allocated stake** and **who can be captured, rewarded, or slashed** A private, allowlisted vault still requires proper opt-ins and Delegator configuration before any operator can receive stake. A public vault can accept deposits from anyone but will not actually expose those deposits to a Network or operator unless all relevant opt-ins and limits are in place. # **Epochs and Delays** Epochs are the time rules of Symbiotic. They tell you when validator sets update, when withdrawal requests can be claimed, and how long captured guarantees stay slashable. Grouping changes at epoch boundaries keeps the stake that networks rely on stable and easy to verify. ## Vault Epochs Each vault has an **epoch duration** set at deployment (`epochDuration`). All epochs for that vault: * are consecutive and equal length * use the same duration unless the curator later increases it Vault epochs drive two things: 1. When queued withdrawals become claimable 2. The maximum look-back window for slashing previously captured guarantees ### Withdrawal Timing Withdrawals are a two-step, epoch-based process. * A user submits a withdrawal request at time `t` inside epoch `k`. * The request becomes claimable **after epoch `k+1` ends**. If the epoch length is `E`: * the effective delay from request to claim is in `[E, 2E)` depending on when in the epoch the user requested * until the boundary at the end of epoch `k+1`, the requested funds remain slashable After that boundary, the withdrawal can be claimed and is no longer subject to new slashes. ### Capture and Slashing Window Networks do not slash against live state; they slash against **captures**. * A **captureTimestamp** is the time a Network uses to snapshot stake and validator sets. * At capture, the Network receives a guarantee that the captured amounts remain slashable for one **vault epoch** after that timestamp. When a slashing request is executed, the Slasher enforces: 1. **Freshness** If the capture is older than one epoch at execution time, the request is rejected: `now − captureTimestamp ≤ vaultEpoch` 2. **Bounded amount** Let * `G` = guarantee captured at `captureTimestamp` * `C` = cumulative slashes already applied for that same capture

Then any new slash must satisfy: `slashAmount ≤ G − C`

This anchors penalties to a specific snapshot and prevents double-charging or overshooting the guarantee. ## Network Epochs and Buffers Vault epochs need to be large enough to contain the **end-to-end slashing path** for a Network. Roughly: `validatorSetCaptureDelay + networkEpoch + vetoWindow + executionWindow ≪ vaultEpoch` Where: * `validatorSetCaptureDelay` – time to produce and publish the operator set / stake snapshot * `networkEpoch` – how often your network rotates or commits a new set * `vetoWindow` – VetoSlasher review period, if used * `executionWindow` – operational buffer to actually call the Slasher and finalize the transaction If the sum approaches the vault epoch, captures risk expiring before penalties can be executed. Either shrink the network-side timings or use a vault with a longer epoch. ### Lifecycle Notes Epoch changes and events interact like this: * Freshness checks use the **current** vault epoch at verification time, not the epoch duration that was in effect when the capture was taken. * Withdrawals are slashable until the first boundary where they become claimable (end of epoch `k+1` for a request in epoch `k`). ### Examples **7-day vault epoch, mid-epoch withdrawal** * `E = 7 days`. * User requests withdrawal on day 2 of epoch `k`. * Claim is possible right after epoch `k+1` ends → between 7 and 14 days from the request, depending on where in the epoch they requested. * Funds remain slashable until that boundary. **Safe timing for slashing** * Vault epoch `E = 8 days`. * `validatorSetCaptureDelay = 6h`, `networkEpoch = 24h`, `vetoWindow = 12h`, `executionWindow = 6h`. * Total = 48h, well below 8 days → captures stay fresh and enforceable with plenty of margin. # **Voting Power** The `VotingPowerProvider` is the Relay contract that turns **delegated Symbiotic stake** into **operator voting power** inside a validator set. It sits between Symbiotic Core (vaults, operators, networks) and the Relay settlement layer, and exposes a clean interface for: * which operators are in the validator set * how much voting power each one has * what that power was at a specific timestamp (for verifying old decisions) This is what Relay uses to build validator sets and what Settlement uses to verify signatures. ### Inputs At a high level, VotingPowerProvider pulls three kinds of data: * **Stake and vault state** from Symbiotic Core (how much collateral each operator has in which vaults / networks). * **Onboarding / filtering modules**, e.g. * OperatorsWhitelist / OperatorsBlacklist / OperatorsJail – which operators are even allowed in the set * SharedVaults / OperatorVaults – which vaults are considered for this network * MultiToken / OpNetVaultAutoDeploy – which tokens and “auto-created” vaults are in scope * **Voting power calculators**, which define how raw stake → voting power. The public view methods (like `getOperatorVotingPower` and `getOperatorVotingPowerAt`) are what off-chain tooling and Relay’s `ValSetDriver` actually call when they derive the active set and its weights. ## From Delegated Stake to Voting Power The core idea: **delegated stake is the input**, but the contract lets you pick the function that maps “stake” to “voting power”. Some standard derivations: * **Equal** – every opted-in operator gets the same power, regardless of stake. Useful for “one node, one vote” or PoA-style governance. * **Linear** – power proportional to stake. This is the vanilla PoS model: double the effective stake, double the voting power. * **Capped / concave** – diminishing returns at higher stake. You can cap per-operator power or use a concave function to stop one operator from dominating the set even if they bring a lot of collateral. * **Behavior-aware** – adjust weights based on uptime, freshness, or custom performance metrics. In practice you’d compute a “score” off-chain and feed it in via weights or parameters that sit on top of the base calculators. `VotingPowerProvider` achieves this through a plug-in set of **VotingPowerCalculators**. The repo ships with several that you can compose or chain: * `EqualStakeVPCalc` * `NormalizedTokenDecimalsVPCalc` – normalize all tokens to 18 decimals * `PricedTokensChainlinkVPCalc` – convert different tokens to a common value using Chainlink price feeds * `WeightedTokensVPCalc` – apply token-level weights * `WeightedVaultsVPCalc` – apply vault-level weights (e.g. “this vault counts 1.2×, that one 0.8×”) Networks can pick a simple single calculator (e.g. “linear stake using normalized decimals”) or a pipeline (“normalize decimals → price everything in ETH → apply vault weights”). ## Multi-Token Considerations In practice, stake can come from multiple collaterals across several vaults: * LST A, LRT B, native token, etc. * different decimals and potentially different prices `VotingPowerProvider` does **not** impose one global rule here; it just provides building blocks. The network defines: * which tokens are accepted (via MultiToken module and supported-token registration) * how each token is converted into a single comparable number (e.g. price feeds, fixed haircuts, or simple 1:1) * whether some tokens or vaults get higher or lower weight in the final voting power The end result is a single voting power number per operator that already bakes in all these decisions. ## Quorum and Time Variation Once voting power is defined, the network can reason about **quorums** and **thresholds**: * decisions might require > 50% or ≥ 2/3 of total voting power * some sub-protocols (e.g. light client, DA, bridge) can have their own minimum voting power requirements Voting power is **time-varying**: * stake moves in and out of vaults * operators join, leave, or are jailed / unregistered * token prices change if you use price-based calculators * off-chain behavior metrics change over time To keep things tractable, most networks **update the validator set once per epoch** and use that snapshot for all decisions in that period. Relay’s contracts are built around this: * `ValSetDriver` uses `VotingPowerProvider` to derive the validator set at a chosen genesis and at subsequent epochs. * `Settlement` verifies signatures against exactly that compressed validator set header, so verifiers and networks agree on which power distribution applied. This gives you a clean, epoch-by-epoch history of “who had how much power when”. ## With and Without Relay You can think of `VotingPowerProvider` as the **Relay version** of what a custom middleware might do. * **Without Relay** Your own middleware reads vault accounting and Delegator state directly from Symbiotic Core, applies your stake → voting power rules off-chain, and uses that to drive your protocol. You still need to handle cross-chain verification and efficient proof formats yourself. * **With Relay** `VotingPowerProvider` is the on-chain oracle of voting power for the Relay network. Relay’s off-chain sidecar and ValSetDriver: * read operator/vault data from Symbiotic Core * call `VotingPowerProvider` to get per-operator voting power * compress that into a validator set header * commit it into `Settlement`, which is then used to verify aggregated signatures on any connected chain In other words: `VotingPowerProvider` is where you **define what “power” means** for your network, and Relay takes that definition and turns it into a cheap, verifiable validator set you can reuse everywhere. # **Valset (Validator Set)** The **validator set** is the current list of operators and their weights that a network uses for signing and verification during a given epoch. In Relay, this is represented by a **validator set header** that ValSetDriver helps derive and then commit to the Settlement contracts. At any moment in an epoch, the validator set answers three questions: * which operators are active * which keys they use to sign * how much **voting power** each one has (as computed by the VotingPowerProvider) Applications and Settlement never recompute this themselves – they read the committed header and verify signatures against it. ## Epoch Formation `ValSetDriver` is the on-chain “driver” the Relay binary uses to derive validator sets epoch by epoch. At the start of each network epoch (or whenever the network decides to rotate), the off-chain Relay nodes: 1. **Discover eligible operators** * Read operator/vault relationships and voting power from `VotingPowerProvider`. * Respect onboarding modules (whitelist/blacklist/jail, shared vs operator vaults, multi-token rules) so only **registered and permitted** operators are considered. * Filter to operators that have opted into the network and meet minimum power / inclusion constraints configured in `VotingPowerProvider`. 2. **Select active key material** * Fetch cryptographic keys for these operators from `KeyRegistry` (BLS BN254 or ECDSA secp256k1). * Enforce key requirements: tags, key types, and quorum / threshold rules as configured via `ValSetDriver`. 3. **Assign weights** * Call `VotingPowerProvider` to get each operator’s **voting power** for this network (stake → power, token weights, vault weights, etc.). * Apply any network-side caps (e.g. max power per operator, max validator count) that `ValSetDriver` exposes for Relay config. 4. **Fix the decision threshold** * Choose a decision rule like `> 50%` or `≥ 2/3` of total voting power. * Encode this into the header metadata so `Settlement` and applications know what constitutes a valid quorum for verification. 5. **Produce a compact header** * Compress: operator IDs, keys (or key hashes), weights, epoch number, network id, and the chosen threshold into a **ValSetHeader**. * Compute a `headerHash = keccak256(abi.encode(header))` (conceptually – exact struct is handled inside the contracts). This header is what gets committed on-chain and later used by `Settlement` and apps to verify aggregated signatures. ## Storage and Rotation `ValSetDriver` and `Settlement` together manage **storage and rotation** of validator sets: * **Epoch-based rotation** * `ValSetDriver` tracks **epoch timing** and exposes the current epoch start / duration to Relay nodes. * At each epoch boundary, Relay derives a new validator set and sends its header to the Settlement contracts. * **On-chain storage** * Settlement stores the current header (and usually some history) in **compressed form**, keyed by epoch or sequence. * The driver and Settlement together act as the on-chain source of truth: “for epoch N, these are the validators, weights, and threshold”. * **Design constraint** * Network epochs should be long enough that the whole path “observe stake → compute voting power → derive set → aggregate signatures → post header” reliably fits inside the epoch window, otherwise headers risk arriving late. ## Cross-chain Commitment Relay is designed to support **multiple chains** from a single validator set. * `ValSetDriver` holds configuration for: * which `Settlement` contracts (replicas) exist on which chain IDs * verification type (Simple vs ZK) and per-replica parameters (e.g. quorum thresholds, gas-oriented constraints) * For each epoch, the Relay binary: * derives one validator set header * commits that same header to all configured Settlement replicas Applications on any of those chains read the **same header**, so verification of a given message is consistent everywhere. ## Enforcement and Verification Once a header is committed, it becomes the **reference set** for signature checks until the next epoch’s header replaces it. * **Verification contracts** * Settlement uses either `SimpleVerifier` (compressed full set verification, good up to ~125 validators) or `ZKVerifier` (zkSNARK-based proof) to check that an aggregated signature meets the threshold for the committed set. * **Enforcement properties** * If a signature is produced using a key that is **not in the header**, verification fails – the key has no registered voting power for that epoch. * If the aggregated signature does not correspond to a subset of validators whose **total voting power ≥ threshold**, verification fails. * If a malicious or misconfigured app tries to verify against an old header, it will only succeed if that header is still the one committed for the relevant epoch / sequence. From the network’s perspective, that means: * you get deterministic, epoch-by-epoch validator sets derived from Symbiotic stake and operator status * anyone on any connected chain can cheaply verify that “this message was signed by enough power in the active set for epoch N” using only the committed header and the verifier contracts. So, if **VotingPowerProvider** defines *how much* power each operator has, **ValSetDriver + Settlement** define *which set* is active at a given time and enforce that only that set – with its weights and threshold – can authorize decisions. # **Secure Attestations** Secure attestations are **stake-backed signatures over a message hash** that contracts can verify against the active validator set header. Concretely: * The **validator set** for epoch `e` is fixed by a committed header (operators, keys, weights, threshold). * Operators in that set sign a **message hash**. * An aggregator combines these signatures into an aggregate proof. * A **Settlement** contract on the destination chain verifies the proof against the header for epoch `e`. ## Message Contents (typical) The protocol doesn’t hardcode a single message struct, but in practice you want something like: * `networkId` – Relay network identifier * `subnetworkId` – optional, for partitioned logic * `epoch` or `valsetId` – which validator set header must be used * `payloadType` – enum or tag (bridge, checkpoint, oracle, etc.) * `payloadHash` – hash of the actual data your app cares about * `dstChainId` – EVM chain where this will be verified * `dstApp` or `dstContract` – target contract / app identifier * `expiry` – timestamp or block after which the attestation is invalid * `nonce` – monotonically increasing per channel / app You encode this structure, compute `messageHash = keccak256(encodedMessage)`, and **only `messageHash` is signed** by operators. ## Aggregation and Verification The flow is: 1. **Build the message** Middleware or the app constructs the message struct, fills `epoch`, `dstChainId`, `dstApp`, `nonce`, `expiry`, etc., and computes `messageHash`. 2. **Operators sign** Each operator in the **current validator set for `epoch`** signs `messageHash` with its registered key (BLS or ECDSA, depending on your Relay config). 3. **Aggregate off-chain** An aggregator collects signatures and: * for the **Simple** path: * aggregates BLS signatures into `sigmaAgg` * builds a participant bitmap / list * for the **ZK** path: * uses the individual signatures and weights to generate a zk proof that “signers’ voting power ≥ threshold for header H and messageHash M” 4. **Submit to Settlement** On the destination chain, the aggregator (or any relayer) calls something like: * `settlement.verifyAndConsume(message, epoch, sigmaAgg, participants)` for Simple, or * `settlement.verifyAndConsume(message, epoch, zkProof)` for ZK. 5. **On-chain check** Settlement: * loads the **validator set header** for `epoch` * reconstructs keys and weights from that header * runs either: * **SimpleVerifier**: check BLS aggregate against the participants and ensure their summed voting power ≥ threshold * **ZKVerifier**: check the proof that encodes both signature validity and power ≥ threshold If verification passes, your app logic (bridge, rollup, oracle, etc.) is allowed to execute. ## Safety Properties Secure attestations are tied down in a few specific ways: * **Bound to a validator set** The message includes `epoch` (or a valset ID). Settlement only verifies against the header stored for that epoch. An attestation for epoch `e` cannot be validated against the header for epoch `e+1`. * **Bound to destination** `dstChainId` and `dstApp` are part of the signed payload. The same hash cannot be replayed on a different chain or different contract because the signature is over the full encoded message. * **Replay protection** Your app (or Settlement integration) tracks: * `nonce`: reject messages with a nonce ≤ lastSeenNonce for that channel / app * `expiry`: reject messages whose expiry is in the past * **Slashable misbehavior** If operators sign: * two different payloads for the same `(networkId, subnetworkId, epoch, nonce)` * or obviously invalid content (e.g. violates your protocol’s invariants), that evidence can be fed into your Network’s middleware, which then submits a **slashing request** to the relevant vaults in Symbiotic. The economic backing for those keys is what makes the attestation “secure”. So in short: a secure attestation is a message bound to a specific epoch, network, and destination, proven on-chain to have signatures from enough stake-weighted operators in that epoch’s validator set. # **Settlement** Settlement is the on-chain endpoint for Relay. It stores validator set headers (operators, keys, weights, thresholds) per network / subnetwork / epoch and verifies aggregated signatures (attestations) against those headers on the chains where apps live. Applications don’t talk to `VotingPowerProvider` or `ValSetDriver` directly; they call Settlement to check whether enough of the current validator set signed a given message. ### Contract responsibilities Settlement instances (one per Relay network per chain) are responsible for: * **Committing headers** Accept compressed validator set headers (for example, once per epoch) and store them keyed by `(network, subnetwork, epoch)`. * **Verifying attestations** Given: * a message (or hash) * an epoch / header ID * an aggregate signature or zk proof Verifier checks: * the proof matches the message * the participating validators’ total voting power is at least the threshold from the header If both hold, it returns success so the calling app can continue. ### Multi-chain The same validator set can secure multiple chains. Each chain runs its own Settlement instance, and the Relay committer posts the same header to all replicas. Applications on different chains therefore verify against identical validator sets and thresholds for a given epoch, even though verification is performed locally on each chain. ### Cost model (intuition) Costs stay near-flat in validator set size. Header updates are small, infrequent writes because a compressed header is stored once per epoch. Verifying an attestation requires a single aggregate check: with the Simple verifier this is one BLS aggregate pairing plus summing the listed signers’ weights, while with the ZK verifier it is one zkSNARK verification where the signer set and weight check are already encoded in the proof. You pay per attestation, not per validator. ### Failures Verification fails (returns false / reverts) if: * the referenced epoch or header is not committed or does not match the network * the proof is invalid or does not match the message hash * the signing validators’ total voting power is below the threshold In all of these cases, the application must not execute the gated action (no unlock, no finalize, no state update). # Overview Symbiotic Liquid Lane enables **redemptions** for otherwise illiquid or time-locked assets by sourcing liquidity from **curator-managed Symbiotic vaults**. Symbiotic’s collateral management infrastructure facilitates market makers to use vault liquidity for the sole purpose of quoting, filling, and natively processing redemptions via an **onchain RFQ workflow**. Vault LPs underwriting this product stand to earn the spread from these redemption flows while continuing to receive base yield on idle funds through DeFi adapters such as Morpho, as well as additional yield from exposure to Symbiotic applications. Liquid Lane is designed for RWAs and crypto derivative assets (e.g. Liquid Staking Tokens, Vault receipt tokens) where primary liquidity is episodic or constrained (e.g. withdrawal queues, redemption windows, vault lockups), and where market makers can price duration in exchange for composable yield for vault depositors supplying short-term liquidity. ![General overview](/img/LL-1.png) ## About Symbiotic V2 Symbiotic is a modular collateral and yield infrastructure that lets institutions and applications deploy, manage, and route productive assets across onchain market structures. Backed by Pantera and Paradigm, Symbiotic is built to make collateral *programmable*: vaults, curators, and adapters can be composed to create market-specific risk and yield profiles. Liquid Lane is one example of this broader “Collateral Markets” strategy, following the successful collaboration with Cap, where Symbiotic powers >\$250m of collateral underwriting borrowers like Susquehanna, M11 Credit, and others. It uses curator-managed, yield-generating vault collateral to underwrite redemption flows for assets whose native liquidity is episodic or time-locked, turning productive collateral into reliable, onchain liquidity while preserving base yield and risk controls. ## Key Facts | | | | ----------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Capital Usage** | LP capital sits in curator-managed vaults earning base yield from lending markets (and/or delegating to Symbiotic networks) and is deployed when market makers draw liquidity to fill redemptions. | | **Vault LP Yield** | Yield generated from market maker usage of vault liquidity (fees/spread share), driven by redemption demand (early exits and liquidations) + base yield from DeFi lending and Symbiotic networks. | | **Typical Duration** | Vaults on average have a 14 day lockup period, but a curator may still service liquidity for an RWA redemption that exceeds this window. It is up to curators to manage this based on their different liquidity and risk management practices. | | **Eligible Collateral** | USDC (Cohort 0) + wETH & wBTC/cbBTC & other stablecoins (Cohort 1 onwards) | | **Risks** | • Product-related risks (duration, liquidity, operational)
• Infrastructure-related risks (smart contracts, front- and backend (API), oracle) | | **Settlement** | • Native redemption with asset issuer
• A second market maker-triggered RFQ sale of the asset | ## Supported Assets * **Midas** | Asset | Issuer | Fund Manager / Operator | Accepted Collateral | | --------- | ------ | ------------------------- | ------------------- | | mF-ONE | Midas | Fasanara Capital | USDC | | mGLOBAL | Midas | Fasanara Capital | USDC | | mROX | Midas | RockawayX | USDC | | mTBILL | Midas | Midas | USDC | | mRe7YIELD | Midas | Re7 | USDC | | mAPOLLO | Midas | Apollo Crypto | USDC | | mEDGE | Midas | Edge Capital (UltraYield) | USDC | | mHYPER | Midas | Hyperithm | USDC | | mM1 | Midas | M1 Capital | USDC | * **Centrifuge** | Asset | Issuer | Fund Manager / Operator | Accepted Collateral | | ----- | ---------- | ----------------------------------- | ------------------- | | JAAA | Centrifuge | Janus Henderson | USDC | | JTRSY | Centrifuge | Janus Henderson | USDC | | HYB | Centrifuge | New York Life Investment Management | USDC | * **OpenEden** | Asset | Issuer | Fund Manager / Operator | Accepted Collateral | | ------ | -------- | ----------------------- | ------------------- | | HYBOND | OpenEden | OpenEden | USDC | * **Hastra / Figure** | Asset | Issuer | Fund Manager / Operator | Accepted Collateral | | ----- | ------ | ----------------------- | ------------------- | | PRIME | Hastra | Hastra | USDC | * **Pareto** | Asset | Issuer | Fund Manager / Operator | Accepted Collateral | | -------------- | ------ | ----------------------- | ------------------- | | AA\_FalconXUSDC | Pareto | M11 Credit | USDC | Further collateral assets and redemption assets will be added in the future. Interested teams can get in touch with Symbiotic to support specific assets for redemptions or as collateral. ## Value Proposition * **Real yield, not points farming**: returns come from real demand for liquidity (instant redemptions and liquidations). * **Institutional-grade exposure through delegation**: LPs benefit from deploying collateral assets (stablecoins/WETH/WBTC) into curator-managed vaults, without needing to run RFQ quoting infrastructure themselves. * **Risk-managed allocations**: curators set asset-specific parameters (limits, counterparties, additional allocations to Symbiotic networks and external lending markets) to control how capital is used. * **Distribution & integrations**: the product is designed to plug into wallets, vaults, and RWA issuance/redemption flows, aggregating demand into a single quoting surface. ## Reward Profile Vault depositors stand to earn a blend of three distinct yield sources, depending on the exposure and strategy of their vault’s curator: * **Servicing redemption:** Liquid Lane enables vault depositors to earn part of the spread market makers achieve by acquiring discounted assets through RFQ bids and native protocol redemptions (or secondary auctions). * **Liquidity buffer earning base yield:** Symbiotic’s collateral management infrastructure enables programmable deployment of collateral to earn base yield while no redemptions are serviced. * **Long-duration exposure:** vault collateral can be delegated to Symbiotic application. ## Risk Profile Vaults utilizing Liquid Lane and associated infrastructure are exposed to risks that may differ depending on the vault curators allocations to adapters, the serviced redemption assets, as well as vault-associated bidding strategies in the RFQ process. *Product-related Risks* * **Duration risk** * Underlying asset prices may move in unfavorable directions (NAV impairment) leading to loss of value when natively redeeming. * **Lending adapter liquidity risk** * Allocations to Symbiotic DeFi adapters determine how much vault capital is deployed e.g. into lending markets to earn a base yield. Lending market utilization spikes can affect liquidity available for RWA redemptions and vault withdrawals. * **Duration mismatch liquidity risk** * If the vault’s withdrawal delay is shorter than the underlying asset’s redemption window, liquidity may not be available in time to service withdrawals from vault depositors. * **Operational risk** * Curator and RFQ participant-controlled keys and infrastructure determine allocation strategies and bids being placed and can in the case of compromise or mishandling lead to unexpected outcomes. The flow of funds is constrained by Symbiotic core contracts and Liquid Lane-related adapters limiting the surface area. * **RWA liquidity and settlement risk** * For some asset types, native redemption paths may be gated meaning ability to redeem may extend beyond expected dates or face illiquidity for other issuer-related reasons. *Infrastructure-related Risks* * **Smart contract, front- and backend infrastructure risk** (Symbiotic core contracts, UI and API infrastructure) * **Oracle provider-related risks** (asset prices and NAV reporting) ## Who This Is For * **Asset issuers** looking to expand distribution, improve secondary liquidity, and provide instant redemptions for tokenized products without relying on expensive liquidity incentives or idle capital buffers. * **Institutional LPs** (capital providers) who want to earn yield from instant-redemption liquidity demand. * **Vault curators** who can underwrite parameters, select/whitelist market makers, and manage allocations to service redemptions, as well as to low-risk DeFi opportunities for idle capital, and Symbiotic networks for additional exposure. * **Market makers** that seek to place bids for discounted assets to service redemptions or liquidations, while tapping into onchain vault liquidity. # How it Works ### Detailed Flow ![General overview](/img/LL-2.svg) At first, the market maker deploys a Symbiotic USDC vault, which can be done easily through the Symbiotic frontend and factory, and decides to allocate the collateral to a DeFi Strategy while it is not in use. This vault is associated with a “Market Maker Symbiotic Contract” that facilitates the execution logic and redemption flow. The redemption flow is divided into six steps: 1. An asset manager requests an RWA swap through a specific frontend or RFQ system such as the Symbiotic RFQ. 2. The market maker has integrated the RFQ API and receives the request. They can then bid by signing an order and submitting it to the RFQ backend, as with any other exchange. 3. The market maker triggers the transfer of USDC to the asset manager. 4. The Market Maker Symbiotic Contract pulls the required USDC from the Symbiotic vault. 5. The asset manager sends the RWA to the Symbiotic contract. 6. The USDC is released to the asset manager atomically. ![General overview](/img/LL-3.svg) At this point, the market maker Symbiotic contract holds the RWA, and it needs to be redeemed for the underlying vault asset, USDC. This can be done in two different ways: 1. The market maker acquires the RWA into their own portfolio and assumes the duration risk. 2. The market maker redeems the RWA with the issuer. During this period, the RWA continues earning its intrinsic APY. # Curators Curators are the primary participants servicing Instant Liquidity. They deploy and manage Symbiotic vaults, configure supported redemption assets and pricing parameters, and use vault liquidity to acquire assets through instant redemption requests. Unlike traditional liquidity providers that rely on idle capital buffers, curators can deploy idle vault capital into external yield opportunities through Symbiotic adapters while keeping it available to service future redemption requests. This allows them to generate additional yield without compromising their ability to provide liquidity. ## Responsibilities Curators are responsible for managing the complete lifecycle of a vault, including: * Deploying and managing Symbiotic vaults. * Whitelisting supported redemption assets. * Configuring a minimum acceptable discount for each asset. * Allocating idle capital to supported passive yield adapters. * Servicing redemption requests using vault liquidity. ## Servicing Redemptions When a user requests an instant redemption, the curator receives the request through either the Symbiotic RFQ or another supported integration. If the redemption satisfies the configured parameters, the curator uses liquidity from the Symbiotic vault to settle the redemption immediately. The acquired asset is then redeemed natively with the issuer or otherwise managed according to the curator's own strategy until settlement completes. During this period, the vault capital remains committed while the underlying asset proceeds through its standard redemption process. ## Passive Yield Capital does not need to remain idle while waiting for redemption requests. Curators can allocate available vault liquidity to supported DeFi protocols such as Morpho, Aave, or other passive strategies through Symbiotic adapters. Whenever liquidity is required, capital can be withdrawn and used to settle redemption requests. This allows vault depositors to earn both a base yield and additional revenue generated from servicing instant redemptions. ## Reward Profile Curators generate yield from multiple sources: * Redemption spreads earned from servicing instant redemptions. * Base yield generated through passive yield adapters. * Optional rewards from allocating capital to Symbiotic applications. The contribution of each yield source depends on redemption activity, asset selection, and the curator's allocation strategy. # Asset Issuers Instant Liquidity enables asset issuers to offer immediate redemptions for their tokenized products without maintaining idle liquidity buffers or relying on expensive incentive programs. Instead, issuers integrate with Symbiotic once, while independent curator-managed vaults compete to provide liquidity for their assets. Users benefit from immediate exits, while issuers continue processing redemptions through their existing infrastructure and operational workflows. ## Why Integrate Instant Liquidity? ### Better user experience Users can redeem supported assets immediately instead of waiting through withdrawal queues, redemption windows, or settlement periods. This significantly improves accessibility while preserving the existing redemption process. ### No idle liquidity requirements Issuers no longer need to maintain large cash reserves or dedicated liquidity pools to facilitate redemptions. Liquidity is sourced on demand from independent Symbiotic vaults whenever redemption requests occur. ### More capital efficiency Rather than sitting idle while waiting for redemption demand, curator capital remains productive through passive yield strategies until it is required. This allows issuers to offer liquidity without introducing inefficient capital buffers into their products. ### Greater distribution Instant Liquidity makes tokenized assets more attractive to investors by improving exit liquidity. This reduces one of the largest adoption barriers for RWAs and other yield-bearing assets, helping issuers reach a broader set of users. ### Open liquidity network Multiple independent curators can support the same asset, each deploying their own capital and pricing redemption requests independently. This creates a competitive liquidity market instead of relying on a single market maker or liquidity provider. ## Integration Issuers integrate Instant Liquidity into their existing redemption flow through the provided APIs or frontend components. Once integrated, redemption requests are routed to participating curators, who use Symbiotic vault liquidity to settle users immediately before completing the standard redemption process with the issuer. # For Frontends Use the Liquid Lane API to redeem supported RWAs for USDC in your app. Connect the user's wallet, request approval when needed, and sign an EIP-712 order. | Network | Base URL | | ------- | ------------------------------------------ | | Mainnet | `https://swap.symbiotic.fi/api/v1` | | Hoodi | `https://swap.hoodi.symbiotic.fi/api/v1` | | Sepolia | `https://swap.sepolia.symbiotic.fi/api/v1` | Use the matching chain and [Reactor address](/get-started/resources/addresses#rfq). See the [API reference](/liquid-lane/api/rfq) for full schemas. ## Integration Steps :::steps ### Request a quote Call [`POST /quote`](/liquid-lane/api/rfq#post-apiv1quote) with the tokens, amount, wallet (`swapper`), and output recipients. Use `type: "EXACT_INPUT"`, set both chain IDs to the deployment chain (`1` for mainnet), and set each output's token to `tokenOut`. The response contains `quotes`, sorted best-first. Each entry includes `solver`, `quote`, and `signatureData`. Choose `quotes[0]` for the best quote. Display the user's amount from the selected `quote.orderInfo.outputs`, formatted with the token's decimals. Refresh quotes while the user reviews them. * `404` means no quote is available. Let the user change the amount or try again. ### Approve the Reactor Call [`POST /check_approval`](/liquid-lane/api/rfq#post-apiv1check_approval) with `{ walletAddress, chainId, token, amount }`. If `approval` is `null`, continue to signing. Otherwise, send its `{ to, data, value }` transaction and wait for a successful receipt. It grants the Reactor an unlimited ERC-20 allowance. ### Sign Sign `signatureData` as EIP-712 typed data with `primaryType: "Request"`, passing `value` as the message. ### Submit the order Call [`POST /order`](/liquid-lane/api/rfq#post-apiv1order) with `{ quote, signature }`, keeping the quote unchanged. Persist the returned `orderId` before polling. Retrying the same quote and signature returns the existing order. * `404` means the quote is unknown. * `409` means it expired or no solver can honor it. Request a new quote and signature. ### Track settlement Poll [`GET /orders?orderId=`](/liquid-lane/api/rfq#get-apiv1orders) every few seconds. | `orderStatus` | Action | | ----------------------------------------------------- | ----------------------------------- | | `open` | Keep polling. | | `filled` | Show `txHash` and `settledAmounts`. | | `expired`, `error`, `cancelled`, `insufficient-funds` | Offer a new quote. | Bound each request and the polling window. A timeout does not cancel an order: retain its ID and resume tracking after reload. ::: ## Examples :::code-group ```ts twoslash [viem] import type { Address, PublicClient, Transport, WalletClient } from "viem"; import type { mainnet } from "viem/chains"; import type { RequestBody, ResponseBody } from "./examples/liquid-lane-types"; declare const walletClient: WalletClient; declare const publicClient: PublicClient; declare const tokenIn: Address; declare const tokenOut: Address; declare const amount: string; function post( path: Path, body: RequestBody[Path], ): Promise; // ---cut--- async function post(path: string, body: object) { const API = "https://swap.symbiotic.fi/api/v1"; const response = await fetch(`${API}${path}`, { method: "POST", headers: { "Content-Type": "application/json" }, body: JSON.stringify(body), signal: AbortSignal.timeout(15_000), }); if (!response.ok) throw new Error(`${path}: HTTP ${response.status}`); return response.json(); } import type { TypedData } from "viem"; const [swapper] = await walletClient.getAddresses(); // Quote const { quotes } = await post("/quote", { tokenInChainId: 1, tokenOutChainId: 1, tokenIn, tokenOut, amount, type: "EXACT_INPUT", swapper, outputs: [{ token: tokenOut, recipient: swapper }], }); // Choose the best quote (highest output) const { quote, signatureData } = quotes[0]; // Approve the Reactor if needed const { approval } = await post("/check_approval", { walletAddress: swapper, chainId: 1, token: tokenIn, amount, }); if (approval) { const hash = await walletClient.sendTransaction({ account: swapper, ...approval, value: BigInt(approval.value), }); const receipt = await publicClient.waitForTransactionReceipt({ hash }); if (receipt.status !== "success") throw new Error("Approval reverted."); } // Sign if (quote.orderInfo.deadline <= Date.now() / 1000) throw new Error("Quote expired. Request a new quote."); const { domain, types, primaryType, value } = signatureData; const signature = await walletClient.signTypedData({ account: swapper, domain, types: types as unknown as TypedData, primaryType, message: value, }); // Submit; save orderId to track settlement const { orderId } = await post("/order", { quote, signature }); ``` ```ts twoslash [Fireblocks] import type { Fireblocks } from "@fireblocks/ts-sdk"; import type { RequestBody, ResponseBody } from "./examples/liquid-lane-types"; declare const fireblocks: Fireblocks; declare const tokenIn: Address; declare const tokenOut: Address; declare const amount: string; function post( path: Path, body: RequestBody[Path], ): Promise; // ---cut--- async function post(path: string, body: object) { const API = "https://swap.symbiotic.fi/api/v1"; const response = await fetch(`${API}${path}`, { method: "POST", headers: { "Content-Type": "application/json" }, body: JSON.stringify(body), signal: AbortSignal.timeout(15_000), }); if (!response.ok) throw new Error(`${path}: HTTP ${response.status}`); return response.json(); } import { TransactionOperation, TransferPeerPathType } from "@fireblocks/ts-sdk"; import type { Address, Hex } from "viem"; const source = { type: TransferPeerPathType.VaultAccount, id: "0" }; const swapper = process.env.FIREBLOCKS_SWAPPER_ADDRESS! as Address; // Address of vault 0. async function waitForCompletion(txId: string) { for (let attempt = 0; attempt < 40; attempt++) { const { data } = await fireblocks.transactions.getTransaction({ txId }); if (data.status === "COMPLETED") return data; if (["FAILED", "BLOCKED", "CANCELLED", "REJECTED", "TIMEOUT"].includes(data.status ?? "")) throw new Error(`Fireblocks: ${data.status}`); await new Promise((resolve) => setTimeout(resolve, 3_000)); } throw new Error(`Check Fireblocks transaction ${txId} before retrying.`); } // Quote const { quotes } = await post("/quote", { tokenInChainId: 1, tokenOutChainId: 1, tokenIn, tokenOut, amount, type: "EXACT_INPUT", swapper, outputs: [{ token: tokenOut, recipient: swapper }], }); // Choose the best quote (highest output) const { quote, signatureData } = quotes[0]; // Approve the Reactor if needed const { approval } = await post("/check_approval", { walletAddress: swapper, chainId: 1, token: tokenIn, amount, }); if (approval) { const { data } = await fireblocks.transactions.createTransaction({ transactionRequest: { operation: TransactionOperation.ContractCall, assetId: "ETH", source, destination: { type: TransferPeerPathType.OneTimeAddress, oneTimeAddress: { address: approval.to }, }, amount: "0", extraParameters: { contractCallData: approval.data }, }, }); await waitForCompletion(data.id!); } // Sign if (quote.orderInfo.deadline <= Date.now() / 1000) throw new Error("Quote expired. Request a new quote."); const { domain, types, primaryType, value } = signatureData; const EIP712Domain = [ { name: "name", type: "string" }, { name: "version", type: "string" }, { name: "chainId", type: "uint256" }, { name: "verifyingContract", type: "address" }, ]; const { data } = await fireblocks.transactions.createTransaction({ transactionRequest: { operation: TransactionOperation.TypedMessage, assetId: "ETH", source, extraParameters: { rawMessageData: { messages: [ { type: "EIP712", content: { types: { EIP712Domain, ...types }, domain, primaryType, message: value, }, }, ], }, }, }, }); const signed = await waitForCompletion(data.id!); const { r, s, v } = signed.signedMessages![0]!.signature!; const signature: Hex = `0x${r}${s}${(v! + 27).toString(16)}`; // Submit; save orderId to track settlement if (quote.orderInfo.deadline <= Date.now() / 1000) throw new Error("Quote expired. Request a new quote."); const { orderId } = await post("/order", { quote, signature }); ``` ::: ## Fees Add an output with your fee recipient and `portionBps` (`25` = 0.25%). Exactly one output must omit `portionBps` to receive the remainder. ```json { "outputs": [ { "token": "0xUsdc" }, { "token": "0xUsdc", "recipient": "0xYourFeeWallet", "portionBps": 25 } ] } ``` ## Solvers Each `quotes[]` entry includes solver metadata: use `solver.name` for the display name and `solver.metadata.logoUrl` for the logo when present. | Solver ID | Name | Network | | ------------------ | --------- | ------- | | `symbiotic_first` | Symbiotic | Mainnet | | `symbiotic_second` | Keyrock | Mainnet | | `symbiotic_third` | KPK | Mainnet | | `symbiotic_fourth` | Cassa | Mainnet | | `symbiotic_fifth` | Clearstar | Mainnet | | `symbiotic_sixth` | InfiniFi | Mainnet | ## Liquidity Preview Call [`POST /liquidity`](/liquid-lane/api/rfq#post-apiv1liquidity) with `{ tokenIn }` and optional `solverIds` to preview depth. Each `levels[]` entry includes an input amount and a `bestQuote`, or `null` if no solver quoted that size. `bestQuote.priceImpactBps` measures the shortfall from the reference price (`50` = 0.50%). Use these levels as estimates. Request a `/quote` for the user's chosen amount before signing. ## API Errors Error responses contain `{ error: { code, message, status, timestamp, details? } }`; validation errors include `details.issues[]`. Log the `requestId` from successful responses for support. # Symbiotic RFQ Backend API Version: `1.0.0` Public RFQ backend API for approval checks, quote creation, order submission, and order polling. ## Servers - `https://swap.symbiotic.fi`: Liquid Lane RFQ backend ## Endpoints ### System - [`GET /api/v1/health`](/liquid-lane/api/system#get-apiv1health) ### RFQ - [`POST /api/v1/check_approval`](/liquid-lane/api/rfq#post-apiv1check_approval): Check ERC-20 allowance - [`POST /api/v1/quote`](/liquid-lane/api/rfq#post-apiv1quote): Request a quote - [`POST /api/v1/liquidity`](/liquid-lane/api/rfq#post-apiv1liquidity): Quote liquidity levels - [`POST /api/v1/discount`](/liquid-lane/api/rfq#post-apiv1discount): Publish a discount - [`POST /api/v1/order`](/liquid-lane/api/rfq#post-apiv1order): Submit an order - [`GET /api/v1/orders`](/liquid-lane/api/rfq#get-apiv1orders): List orders # Introduction Symbiotic is a modular coordination layer that enables applications to access programmable economic security and capital through independently managed vaults. The protocol supports multiple participant roles, each with its own integration path. ## Prerequisites Before you begin, install these tools: * **Git** - Download codebases ([Download](https://git-scm.com/downloads)) * **Foundry** - Interact with EVM contracts ([Download](https://book.getfoundry.sh/getting-started/installation)) * **Python** - Run scripts ([Download](https://www.python.org/downloads)) ## Counterparties
} href="/integrate/curators" /> } />
# Get Started This guide walks you through the curator lifecycle in Symbiotic. You'll deploy a vault, manage allocations, and earn fees from managing depositors' funds. :::steps ## Deploy Vault Deploy a vault that matches your curation needs.
} href="/integrate/curators/deploy-vault" />
## Configure Curator & Operator Fees Register the curator in `CuratorRegistry` and configure curator and operator fees.
} href="/integrate/curators/registry-and-fees" />
## Submit Metadata Make your curator and vault visible on the Symbiotic UI.
} href="/integrate/curators/submit-metadata" />
## Manage Allocations Configure how your vault allocates assets across adapters through the Universal Delegator.
} href="/integrate/curators/manage-allocations" />
## Claim Curator Fees Claim curator fees from the Rewards contract when distributions are available.
} href="/integrate/curators/registry-and-fees" />
::: # Deploy Vault V2 This guide explains how to deploy a Symbiotic V2 vault using the `DeployVaultV2` script. Vault V2 is an ERC-20 tokenized vault where shares are represented by an ERC-20 token. The vault stores a single asset, manages deposits and withdrawals, and uses a Universal Delegator to allocate assets across supported adapters. ## Deployment overview To deploy a Vault V2, configure and run: ```bash script/DeployVaultV2.s.sol ``` The script deploys: * a Vault V2 contract * an ERC-20 vault share token * a Universal Delegator linked to the vault * optional deposit limits * optional depositor whitelisting * role holders for vault administration, fee management, deposit controls, allocation, deallocation, and adapter management The deployment flow uses the Vault Factory from Symbiotic core constants: ```solidity SymbioticCoreConstants.core().vaultFactory.create( VAULT_V2_VERSION, owner, abi.encode(vaultParams) ); ``` After deployment, the script reads the deployed vault's Universal Delegator via: ```solidity address delegator = IVaultV2(vault).delegator(); ``` ## 1. Clone the core repository ```bash git clone --recurse-submodules https://github.com/symbioticfi/core.git cd core ``` ## 2. Configure the deployment script Open: ```bash script/DeployVaultV2.s.sol ``` Update the required fields before deployment: ```solidity // Name of the ERC20 representing shares in the vault string NAME = "SymVault"; // Symbol of the ERC20 representing shares in the vault string SYMBOL = "SV"; // Address of the owner of the vault who can migrate the vault to new versions whitelisted by Symbiotic address OWNER = 0x0000000000000000000000000000000000000000; // Address of the vault asset token address ASSET = 0x0000000000000000000000000000000000000000; ``` | Parameter | Description | | --------- | -------------------------------------------------------------------------------------------------------------- | | `NAME` | Name of the ERC-20 token representing vault shares. | | `SYMBOL` | Symbol of the ERC-20 token representing vault shares. | | `OWNER` | Owner of the vault. In the default script, this address also receives all vault and Universal Delegator roles. | | `ASSET` | ERC-20 asset deposited into the vault. | ## 3. Optional configuration The script also supports deposit limits and depositor whitelisting. ```solidity // Deposit limit (maximum amount of assets allowed in the vault) uint256 DEPOSIT_LIMIT = 0; // Whether deposits are restricted to whitelisted depositors bool DEPOSIT_WHITELIST = false; // Initial whitelisted depositor (used only when DEPOSIT_WHITELIST is true) address DEPOSITOR_TO_WHITELIST = 0x0000000000000000000000000000000000000000; ``` | Parameter | Description | | ------------------------ | ------------------------------------------------------------------------------------------ | | `DEPOSIT_LIMIT` | Maximum amount of assets allowed in the vault. If set to `0`, deposit limits are disabled. | | `DEPOSIT_WHITELIST` | Whether deposits are restricted to whitelisted depositors. | | `DEPOSITOR_TO_WHITELIST` | Initial depositor to whitelist. Used only when `DEPOSIT_WHITELIST` is `true`. | The script enables the deposit limit automatically when `DEPOSIT_LIMIT != 0`: ```solidity isDepositLimit: DEPOSIT_LIMIT != 0 ``` ## 4. Vault V2 roles The default script assigns all Vault V2 roles to `OWNER`. ```solidity defaultAdminRoleHolder: OWNER, managementFeeRoleHolder: OWNER, performanceFeeRoleHolder: OWNER, depositLimitSetRoleHolder: OWNER, depositorWhitelistRoleHolder: OWNER, isDepositLimitSetRoleHolder: OWNER, depositWhitelistSetRoleHolder: OWNER, ``` | Role holder | Description | | ------------------------------- | ------------------------------------------------------------ | | `defaultAdminRoleHolder` | Address with admin permissions over vault roles. | | `managementFeeRoleHolder` | Address allowed to manage the vault management fee. | | `performanceFeeRoleHolder` | Address allowed to manage the vault performance fee. | | `depositLimitSetRoleHolder` | Address allowed to set the deposit limit. | | `depositorWhitelistRoleHolder` | Address allowed to whitelist depositors. | | `isDepositLimitSetRoleHolder` | Address allowed to enable or disable deposit limits. | | `depositWhitelistSetRoleHolder` | Address allowed to enable or disable depositor whitelisting. | :::note The default script assigns all roles to `OWNER`. For production deployments, consider whether these roles should be assigned to a multisig, automation contract, or separate operational addresses. ::: ## 5. Universal Delegator Vault V2 deploys with a Universal Delegator. The Universal Delegator is encoded in the vault initialization params through `delegatorParams`. ```solidity delegatorParams: abi.encode( IUniversalDelegator.InitParams({ allocateRoleHolder: OWNER, deallocateRoleHolder: OWNER, forceDeallocateRoleHolder: OWNER, addAdapterRoleHolder: OWNER, swapAdaptersRoleHolder: OWNER, defaultAdminRoleHolder: OWNER, removeAdapterRoleHolder: OWNER, setAdapterLimitsRoleHolder: OWNER, setAutoAllocateAdaptersRoleHolder: OWNER }) ) ``` The deployment base validates that the vault and delegator are correctly linked: ```solidity assert(IVaultV2(vault).delegator() == delegator); assert(IUniversalDelegator(delegator).vault() == vault); ``` | Role holder | Description | | ----------------------------------- | -------------------------------------------------------------------- | | `allocateRoleHolder` | Address allowed to allocate vault assets through supported adapters. | | `deallocateRoleHolder` | Address allowed to deallocate assets from adapters. | | `forceDeallocateRoleHolder` | Address allowed to force deallocation from adapters. | | `addAdapterRoleHolder` | Address allowed to add new adapters. | | `removeAdapterRoleHolder` | Address allowed to remove adapters. | | `swapAdaptersRoleHolder` | Address allowed to swap or reorder adapters. | | `setAdapterLimitsRoleHolder` | Address allowed to set adapter limits. | | `setAutoAllocateAdaptersRoleHolder` | Address allowed to configure auto-allocation adapters. | | `defaultAdminRoleHolder` | Address with admin permissions over Universal Delegator roles. | ## 6. Deploy the vault Run the deployment script with Foundry: ```bash forge script script/DeployVaultV2.s.sol:DeployVaultV2Script \ --rpc-url=RPC \ --account=ACCOUNT \ --sender=SENDER \ --broadcast ``` Replace: | Placeholder | Description | | ----------- | ------------------------------------ | | `RPC` | RPC endpoint for the target network. | | `ACCOUNT` | Foundry account used for signing. | | `SENDER` | Sender address used for deployment. | Example: ```bash forge script script/DeployVaultV2.s.sol:DeployVaultV2Script \ --rpc-url=https://ethereum-rpc.publicnode.com \ --account=deployer \ --sender=0x0000000000000000000000000000000000000000 \ --broadcast ``` :::note This is an example command. Replace the RPC URL, account, sender, owner, and asset values with your own deployment configuration. ::: ## 7. Deployment output After deployment, the script logs the deployed Vault V2 and Universal Delegator addresses: ```solidity Logs.log( string.concat( "Deployed VaultV2", "\n vault:", vm.toString(vault_), "\n delegator:", vm.toString(delegator_) ) ); ``` ## 8. Complete deployment script ```solidity // SPDX-License-Identifier: MIT pragma solidity ^0.8.25; import "./base/DeployVaultV2Base.sol"; // forge script script/DeployVaultV2.s.sol:DeployVaultV2Script --rpc-url=RPC --account=ACCOUNT --sender=SENDER --broadcast contract DeployVaultV2Script is DeployVaultV2Base { // Configurations - UPDATE THESE BEFORE DEPLOYMENT // Name of the ERC20 representing shares in the vault string NAME = "SymVault"; // Symbol of the ERC20 representing shares in the vault string SYMBOL = "SV"; // Address of the owner of the vault who can migrate the vault to new versions whitelisted by Symbiotic address OWNER = 0x0000000000000000000000000000000000000000; // Address of the vault asset token address ASSET = 0x0000000000000000000000000000000000000000; // Optional // Deposit limit (maximum amount of assets allowed in the vault) uint256 DEPOSIT_LIMIT = 0; // Whether deposits are restricted to whitelisted depositors bool DEPOSIT_WHITELIST = false; // Initial whitelisted depositor (used only when DEPOSIT_WHITELIST is true) address DEPOSITOR_TO_WHITELIST = 0x0000000000000000000000000000000000000000; function run() public { runBase( DeployVaultV2Params({ owner: OWNER, vaultParams: VaultV2Params({ baseParams: IVaultV2.InitParams({ name: NAME, symbol: SYMBOL, asset: ASSET, depositWhitelist: DEPOSIT_WHITELIST, depositorToWhitelist: DEPOSITOR_TO_WHITELIST, depositLimit: DEPOSIT_LIMIT, isDepositLimit: DEPOSIT_LIMIT != 0, defaultAdminRoleHolder: OWNER, managementFeeRoleHolder: OWNER, performanceFeeRoleHolder: OWNER, depositLimitSetRoleHolder: OWNER, depositorWhitelistRoleHolder: OWNER, isDepositLimitSetRoleHolder: OWNER, depositWhitelistSetRoleHolder: OWNER, delegatorParams: abi.encode( IUniversalDelegator.InitParams({ allocateRoleHolder: OWNER, deallocateRoleHolder: OWNER, forceDeallocateRoleHolder: OWNER, addAdapterRoleHolder: OWNER, swapAdaptersRoleHolder: OWNER, defaultAdminRoleHolder: OWNER, removeAdapterRoleHolder: OWNER, setAdapterLimitsRoleHolder: OWNER, setAutoAllocateAdaptersRoleHolder: OWNER }) ) }) }) }) ); } } ``` ## 9. Complete base script ```solidity // SPDX-License-Identifier: MIT pragma solidity ^0.8.25; import {Script} from "forge-std/Script.sol"; import {IUniversalDelegator} from "../../src/interfaces/delegator/IUniversalDelegator.sol"; import {IVaultV2, VAULT_V2_VERSION} from "../../src/interfaces/vault/IVaultV2.sol"; import {Logs} from "../utils/Logs.sol"; import {SymbioticCoreConstants} from "../../test/integration/SymbioticCoreConstants.sol"; contract DeployVaultV2Base is Script { struct VaultV2Params { IVaultV2.InitParams baseParams; } struct DeployVaultV2Params { address owner; VaultV2Params vaultParams; } function runBase(DeployVaultV2Params memory params) public returns (address, address) { vm.startBroadcast(); address vault_ = address( SymbioticCoreConstants.core().vaultFactory .create(_getVaultVersion(), params.owner, _getVaultParamsEncoded(params)) ); address delegator_ = IVaultV2(vault_).delegator(); Logs.log( string.concat( "Deployed VaultV2", "\n vault:", vm.toString(vault_), "\n delegator:", vm.toString(delegator_) ) ); _validateDeployment(vault_, delegator_); vm.stopBroadcast(); return (vault_, delegator_); } function _getVaultVersion() internal virtual returns (uint64) { return VAULT_V2_VERSION; } function _getVaultParamsEncoded(DeployVaultV2Params memory params) internal pure virtual returns (bytes memory) { return abi.encode(params.vaultParams.baseParams); } function _validateDeployment(address vault, address delegator) internal view { assert(IVaultV2(vault).delegator() == delegator); assert(IUniversalDelegator(delegator).vault() == vault); } } ``` ## Next steps After deployment, the vault owner can configure the vault by: * setting or updating deposit limits * enabling or disabling depositor whitelisting * whitelisting depositors * adding adapters * removing adapters * swapping adapters * configuring adapter limits * configuring auto-allocation adapters * allocating and deallocating assets through the Universal Delegator :::warning Before using the vault in production, review the role configuration carefully. The default script assigns all permissions to `OWNER`, which may be appropriate for testing but should be assessed for production deployments. ::: # Submit Metadata The [Symbiotic UI](https://app.symbiotic.fi/deposit) displays TVL, allocations, and relationships between curators, vaults, operators, and applications. To make your entity visible on the UI, submit its metadata to the corresponding repository. After you submit metadata, the Symbiotic team reviews and merges it. Once merged, your data appears on the UI. ## Add a New Entity Template ### Choose a Repository | Chain | URL | | ------- | ----------------------------------------------- | | Mainnet | https://github.com/symbioticfi/metadata-mainnet | | Hoodi | https://github.com/symbioticfi/metadata-hoodi | ### Repository Structure The repository is organized as follows: ``` repository/ ├── vaults/ │ ├── 0x
/ │ │ ├── info.json │ │ └── logo.png (optional) ├── networks/ ├── operators/ ├── tokens/ ``` Each entity is identified by its Ethereum address (`0x...`), and its data is stored in a folder named after the address. Inside this folder, include a file `info.json` containing metadata, and optionally, an icon file `logo.png`. *** ### Steps to Add a New Entity **Note: After your PR is submitted, email your PR link to verify@symbiotic.fi from your official business email (domain must match that of your entity website) to allow us to confirm your identity ahead of merging your PR.** 1. **Determine the entity type**: * Decide whether the entity belongs to `vaults`, `networks`, `operators`, `tokens` or `points`. * If the entity is a `vault`, ensure its collateral token entity is registered in the `tokens` folder before adding the vault metadata. If not, add the token first. 2. **Register the entity in the registry**: * Before adding metadata for vaults, networks, or operators, ensure that they are registered in their respective registries. You can find the current registry contract addresses in the [Addresses page](/get-started/resources/addresses). Unregistered entities will not be accepted. 3. **Create a new folder**: * Navigate to the appropriate directory for the entity type. * Create a folder named after the Ethereum address (e.g., `0x1234567890abcdef1234567890abcdef12345678`). 4. **Add the `info.json` file**: * Include metadata in the specified format (see below). 5. **(Optional) Add an icon file**: * If available, include a `logo.png` file with the entity’s logo. The Symbiotic team reviews your PR after automated checks pass. If approved, it will be merged into the repository. *** ### File Format: `info.json` The `info.json` file must follow this structure: #### Required Fields * `name` (string): The name of the entity. * `description` (string): A brief description of the entity. * `tags` (array of strings): Tags categorizing the entity. * `links` (array of objects): External links related to the entity. #### Fields for Tokens * `cmcId` (string): The CoinMarketCap ID for the token. Used to fetch price of the token in USD. * `permitName` (string): The `name` field for EIP-2612 support. * `permitVersion` (string): The `version` field for EIP-2612 support. #### Fields for Vaults * `curatorId` (string): The ID of the curator of the vault. * `vaultType` (string): The type of the vault. Can be one of: * `eth-restaking`: Vaults with ETH-flavored collateral restaked across multiple networks * `btc-restaking`: Vaults with BTC-flavored collateral restaked across multiple networks * `network-exclusive`: Vaults exclusive to a single network #### Supported `links` Types Each link should include: * `type`: The type of the link. Supported values are: * `website`: The official website of the entity. * `explorer`: A blockchain explorer link for the entity's Ethereum address or contract. * `docs`: Documentation related to the entity. * `example`: Example use cases or tutorials. * `externalLink`: A link to be shown below the entity's name. * `name`: A user-friendly name for the link. * `url`: The URL of the resource. ### Icon File: `logo.png` (Optional) If you want to include an icon for the entity, follow these guidelines: * **File Name**: `logo.png` * **Dimensions**: 256x256 pixels * **Format**: PNG Place the `logo.png` file in the same folder as the `info.json` file. *** ### Validation Before submitting your PR, ensure the following: 1. The Ethereum address is valid: * It must start with `0x` and be exactly 42 characters long. 2. The `info.json` file is valid: * Use a JSON validator, such as [https://jsonlint.com/](https://jsonlint.com/). 3. The `logo.png` file (if included) meets the size requirement of **256x256 pixels**. *** ### Submitting the Pull Request Once your files are added to the repository, create a Pull Request with the following details: 1. **Entity Type**: Specify the type (vault, network, operator, token). 2. **Ethereum Address**: Provide the address of the entity. 3. **Description**: Summarize the entity’s purpose and data. #### Example PR Description ``` Added new token entity: 0x1234567890abcdef1234567890abcdef12345678 - **Name**: USDT - **Description**: USDT is a stablecoin pegged to the US Dollar, widely used for trading and liquidity in cryptocurrency markets. - **Tags**: stablecoin, usdt - **Links**: - [Website](https://tether.to/) - [Etherscan](https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7) - [Tether Documentation](https://docs.tether.to/) - **CMC ID**: 825 - **Permit Name**: USDT Permit Token - **Permit Version**: 1 - **Icon**: Included (256x256 px) ``` *** ### Review and Approval Your PR will be reviewed to ensure: * The `info.json` file has all required fields and valid data. * The `logo.png` file (if included) meets the requirements. * The metadata is accurate and well-structured. * The submitter of the PR is from the entity in question (verified via an email with your PR link to verify@symbiotic.fi from your official business email) After approval, your changes will be merged into the repository. ## Add a Curator :::steps ##### Create a new folder in the `/curators` directory ##### Create a new json file in the folder with the following structure: ```json [info.json] { "name": "My Curator", "description": "My Curator is a curator that allows you to manage your vaults.", "tags": ["curator", "staking"], "links": [ { "type": "website", "name": "Website", "url": "https://mycurator.com" }, { "type": "twitter", "name": "Twitter", "url": "https://x.com/mycurator" }, { "type": "explorer", "name": "Explorer", "url": "https://etherscan.io/address/0x1234567890abcdef1234567890abcdef12345678" } ] } ``` ##### Save a logo of the Curator to `logo.png` of 256x256 pixels size ::: ## Add a Token ::::steps ##### Create a new folder in the `/tokens` directory ##### Create a new json file in the folder with the following structure: ```json [info.json] { "name": "My Token", "description": "My Token is a token that allows you to earn rewards.", "tags": ["token", "staking"], "cmcId": "1234567890", "links": [{ "type": "website", "name": "Website", "url": "https://mytoken.com" }] } ``` :::warning If the CMC ID is missing: * The token’s price cannot be displayed * TVL (Total Value Locked) in USD won’t be calculated * Symbiotic Points cannot be calculated or distributed * Points will be calculated from the date the CMC ID is added; retrospective recalculation for points accrued before this date will not occur. ::: ##### Save a logo of the Token to `logo.png` of 256x256 pixels size :::: ## Add a Vault :::warning If the Vault's collateral is not yet supported by Symbiotic, a separate **Token PR** must be submitted before the **Vault PR**. ::: ::::steps ##### Create a new folder in the `/vaults` directory ##### Create a new json file in the folder with the following structure: ```json [info.json] { "name": "DeFi Vault", "description": "A secure vault for decentralized finance.", "tags": ["vault", "DeFi"], "curatorName": "My Curator", "links": [ { "type": "website", "name": "Website", "url": "https://example-vault.com/" }, { "type": "docs", "name": "Vault Documentation", "url": "https://example-vault.com/docs" } ] } ``` :::warning If the CMC ID is missing: * The token’s price cannot be displayed * TVL (Total Value Locked) in USD won’t be calculated * Symbiotic Points cannot be calculated or distributed * Points will be calculated from the date the CMC ID is added; retrospective recalculation for points accrued before this date will not occur. ::: ##### Save a logo of the Vault to `logo.png` of 256x256 pixels size :::: # Adapter Management Before capital can be allocated, the desired adapter must first be added to the vault's Universal Delegator. Each Vault V2 has its own Universal Delegator responsible for managing the set of available adapters. Once added, adapters can be configured, allocated to, and removed by accounts with the appropriate permissions. ## Add an Adapter The helper script calls the Universal Delegator's `addAdapter()` function. ```solidity title="AddAdapterBase.s.sol" // SPDX-License-Identifier: MIT pragma solidity ^0.8.0; import {IVaultV2} from "../../../../src/interfaces/vault/IVaultV2.sol"; import {IUniversalDelegator} from "../../../../src/interfaces/delegator/IUniversalDelegator.sol"; import {Logs} from "../../../utils/Logs.sol"; import {ScriptBase} from "../../../utils/ScriptBase.s.sol"; contract AddAdapterBaseScript is ScriptBase { function runBase(address vault, address adapter) public virtual returns (bytes memory data, address target) { target = IVaultV2(vault).delegator(); data = abi.encodeCall(IUniversalDelegator.addAdapter, (adapter)); sendTransaction(target, data); Logs.log( string.concat("Add adapter", "\n vault:", vm.toString(vault), "\n adapter:", vm.toString(adapter)) ); Logs.logSimulationLink(target, data); } } ``` The deployment script specifies the vault and adapter addresses: ```solidity title="AddAdapter.s.sol" // SPDX-License-Identifier: MIT pragma solidity ^0.8.0; import "./base/AddAdapterBase.s.sol"; contract AddAdapterScript is AddAdapterBaseScript { address constant VAULT = 0x0000000000000000000000000000000000000000; address constant ADAPTER = 0x0000000000000000000000000000000000000000; function run() public { runBase(VAULT, ADAPTER); } } ``` ## Parameters | Parameter | Description | | --------- | --------------------------------------------------------- | | `VAULT` | Address of the Vault V2. | | `ADAPTER` | Address of the adapter to add to the Universal Delegator. | ## Deploy Run: ```bash forge script script/actions/v2/AddAdapter.s.sol:AddAdapterScript \ --rpc-url=RPC \ --account=ACCOUNT \ --sender=SENDER \ --broadcast ``` Replace: | Placeholder | Description | | ----------- | ------------------------------------------------ | | `RPC` | RPC endpoint. | | `ACCOUNT` | Foundry account. | | `SENDER` | Address holding the `addAdapterRoleHolder` role. | ## Verify 1. Open the Vault V2 contract. 2. Read `delegator()` to obtain the Universal Delegator address. 3. Open the Universal Delegator contract. 4. Verify the adapter was successfully added using the available read methods or emitted events. :::note Only addresses with the `addAdapterRoleHolder` permission can add adapters. By default, this role is assigned to the vault `OWNER` during deployment. ::: # Manage Allocations In Vault V2, curators no longer manage allocations by setting network limits and operator shares directly. Instead, vault assets are allocated through the vault's **Universal Delegator**, which routes capital across the vault's configured adapters. As a curator, the main allocation flow is: * Get the vault's delegator address * Make sure the relevant adapters have been added and configured * Allocate assets across adapters using the Universal Delegator * Deallocate assets from adapters when needed :::note This page describes the Vault V2 allocation flow. The previous `setNetworkLimit()` and `setOperatorNetworkShares()` flow applies to older delegator-based vaults and is deprecated for Vault V2. ::: ## Allocate to Adapters The Universal Delegator exposes an `allocateAll(uint256 amount)` method that allocates vault assets across configured adapters. The default allocation helper script calls: ```solidity IUniversalDelegator.allocateAll(amount) ``` on the delegator associated with a given Vault V2. ### Allocation Script ```solidity [AllocateAdaptersBaseScript.sol] // SPDX-License-Identifier: MIT pragma solidity ^0.8.0; import {IVaultV2} from "../../../../src/interfaces/vault/IVaultV2.sol"; import {IUniversalDelegator} from "../../../../src/interfaces/delegator/IUniversalDelegator.sol"; import {Logs} from "../../../utils/Logs.sol"; import {ScriptBase} from "../../../utils/ScriptBase.s.sol"; contract AllocateAdaptersBaseScript is ScriptBase { function runBase(address vault, uint256 amount) public virtual returns (bytes memory data, address target) { target = IVaultV2(vault).delegator(); data = abi.encodeCall(IUniversalDelegator.allocateAll, (amount)); sendTransaction(target, data); Logs.log( string.concat("Allocate adapters", "\n vault:", vm.toString(vault), "\n amount:", vm.toString(amount)) ); Logs.logSimulationLink(target, data); } } ``` This script: 1. Receives the Vault V2 address and the amount to allocate 2. Fetches the Universal Delegator address from the vault 3. Encodes a call to `allocateAll(amount)` 4. Sends the transaction to the delegator ## Allocation Parameters | Parameter | Description | | --------- | -------------------------------------------------------------------------- | | `vault` | Address of the Vault V2 whose assets should be allocated. | | `amount` | Amount of the vault asset to allocate across adapters. | | `target` | The Universal Delegator address returned by `IVaultV2(vault).delegator()`. | | `data` | Encoded calldata for `IUniversalDelegator.allocateAll(amount)`. | ## Using Safe To allocate assets through Safe: 1. Open [Safe](https://app.safe.global/) 2. Open **Transaction Builder** 3. Get the Vault V2 address 4. Read the vault's `delegator()` address using the UI, CLI, Etherscan, or another block explorer 5. Enter the delegator address as the contract address 6. Click **Use Implementation ABI** 7. Choose the `allocateAll(uint256 amount)` method 8. Enter the amount of assets to allocate 9. Sign and execute the transaction :::note The `amount` should be denominated in the vault asset's smallest unit. For example, for a 6-decimal asset such as USDC, `1000000` represents `1 USDC`. ::: ## Verify Allocation To verify allocation state, use the Universal Delegator read methods and the relevant adapter read methods. At a high level, you should verify: 1. The vault's `delegator()` points to the Universal Delegator used for the transaction 2. The relevant adapters are configured on the delegator 3. The allocation transaction was executed successfully 4. The target adapters received or accounted for the allocated assets ### Verify the Delegator 1. Open the Vault V2 contract in a block explorer 2. Open the **Read Contract** tab 3. Query `delegator()` 4. Confirm that the returned address matches the delegator used for the allocation transaction ### Verify the Allocation Transaction 1. Open the allocation transaction in a block explorer 2. Confirm that the transaction target is the Universal Delegator 3. Confirm that the calldata corresponds to `allocateAll(uint256 amount)` 4. Confirm that the transaction succeeded ## Deallocations Deallocations are also handled through the Universal Delegator. The exact method depends on the desired deallocation flow and adapter configuration. Common deallocation-related permissions are assigned during Vault V2 deployment: | Role holder | Description | | --------------------------- | ---------------------------------------------------- | | `deallocateRoleHolder` | Address allowed to deallocate assets from adapters. | | `forceDeallocateRoleHolder` | Address allowed to force deallocation from adapters. | :::warning Use force deallocation carefully. It is intended for situations where normal deallocation is not sufficient or where an adapter-specific flow requires it. ::: ## Adapter Management Before assets can be allocated, the relevant adapters must be added and configured on the Universal Delegator. Vault V2 deployment assigns the following adapter-management roles: | Role holder | Description | | ----------------------------------- | ------------------------------------------------------ | | `addAdapterRoleHolder` | Address allowed to add new adapters. | | `removeAdapterRoleHolder` | Address allowed to remove adapters. | | `swapAdaptersRoleHolder` | Address allowed to reorder or swap adapters. | | `setAdapterLimitsRoleHolder` | Address allowed to configure adapter limits. | | `setAutoAllocateAdaptersRoleHolder` | Address allowed to configure auto-allocation adapters. | :::note The default Vault V2 deployment script assigns these roles to the vault `OWNER`. For production deployments, these permissions should be reviewed and may be assigned to a multisig or automation contract depending on the vault's operational setup. ::: ## Example Flow A typical Vault V2 allocation flow looks like this: 1. Deploy the Vault V2 2. Add the required adapters to the Universal Delegator 3. Configure adapter limits 4. Configure auto-allocation adapters if applicable 5. Deposit assets into the vault 6. Call `allocateAll(amount)` on the Universal Delegator 7. Verify that assets were allocated as expected ## Deprecated Flow The previous curator allocation flow used network and operator allocation methods such as: ```solidity setNetworkLimit(...) setOperatorNetworkShares(...) ``` These methods are part of the older delegator model. For Vault V2, allocation is performed through the Universal Delegator and its configured adapters. If you are using Vault V2, use the adapter allocation flow described above instead. # Manage Fees Vault V2 supports two fee types that are configured directly on the vault: * **Management fee:** a continuous fee charged on vault assets over time. * **Performance fee:** a fee charged on the vault's positive performance. Unlike previous versions, there is no external rewards registry or curator registration. Fees are managed directly by the vault and accrue automatically as newly minted vault shares. Since vault shares represent ownership of a yield-bearing vault, fee receivers are compensated in vault shares rather than the underlying collateral. ## Management Fee The management fee can be configured through `setManagementFee`. ```solidity vault.setManagementFee(fee, receiver); ``` Where: * `fee` is the management fee rate **per second, scaled by `MAX_FEE = 1e18`**, capped at `MAX_MANAGEMENT_FEE = 5e16 / 365 days` (≈ 5% annually). For example, a 2% annual fee is `0.02e18 / 365 days` = `634195839` (integer division). * `receiver` is the address receiving the newly minted vault shares. Only addresses with the appropriate permission can update the management fee. ## Performance Fee The performance fee can be configured through `setPerformanceFee`. ```solidity vault.setPerformanceFee(fee, receiver); ``` Where: * `fee` is a fraction of `MAX_FEE = 1e18`, capped at `MAX_PERFORMANCE_FEE = 2e17` (20%). For example, a 10% performance fee is `1e17`. * `receiver` is the address receiving the newly minted vault shares. Only addresses with the appropriate permission can update the performance fee. ## Fee Accrual Fees accrue automatically through the vault's accounting logic. Whenever the vault updates its accounting, it calculates any accrued management and performance fees and mints the corresponding amount of vault shares to the configured fee receivers. Because fees are paid in vault shares, the vault does not need to withdraw collateral from adapters or other yield-generating strategies. Instead, the fee receiver becomes a shareholder of the vault, while the ownership of existing depositors is diluted proportionally. ## Realizing Fees There is no separate fee claiming process in Vault V2. Fee receivers obtain vault shares automatically as fees accrue. These shares behave like any other vault shares and can be redeemed or withdrawn through the standard vault withdrawal flow, subject to the vault's withdrawal conditions and available liquidity. # Build an Application This guide walks through the complete lifecycle of integrating an application with Symbiotic Core V2. At a high level, the integration consists of: 1. Deploying your application middleware. 2. Registering your application on Symbiotic. 3. Associating the middleware with your application. 4. Deploying a vault. 5. Deploying an AppAdapter. 6. Having the AppAdapter whitelisted. 7. Connecting the AppAdapter to the vault. ## Overview Applications define their own business logic while Symbiotic provides collateral management, stake accounting, and slashing infrastructure. The integration is centered around three components: * **Network Middleware** — application-specific logic. * **AppAdapter** — connects the application to Symbiotic collateral. * **Vault** — provides the collateral securing operators. The middleware determines **when** an operator should be slashed, while the AppAdapter executes the slash against collateral allocated from Symbiotic vaults. ## 1. Build the Network Middleware The Network Middleware is the application-specific contract responsible for enforcing your protocol's business logic and interacting with the corresponding `AppAdapter`. For example, a Proof-of-Reserve network may slash operators that: * fail to publish reserve proofs, * submit invalid proofs, * miss reporting windows, * or violate any application-defined rules. When a slashable condition is detected, the middleware calls: ```solidity slash(uint256 amount) ``` on the corresponding `AppAdapter`. Only the middleware registered for the network inside the `NetworkMiddlewareService` can call `slash()`. This guarantees that every application maintains full control over its own slashing conditions while relying on Symbiotic for collateral management. ### Responsibilities At a minimum, the middleware should implement: * Slash conditions. * Slash amount calculation. * Access control (governance, committee, oracle, automation, etc.). * Calls to `slash(uint256 amount)` on the AppAdapter. * Any dispute, evidence, or challenge mechanisms required by the application. When `slash()` is executed, the AppAdapter: * verifies the caller is the registered middleware, * caps the slash amount to the available slashable stake, * updates internal stake accounting, * decreases allocation limits inside the Universal Delegator, * transfers the slashed collateral to the configured burner. ## 2. Register the Application Applications must first register themselves with Symbiotic. ### Network Registry **Contract** https://etherscan.io/address/0xC773b1011461e7314CF05f97d95aa8e92C1Fd8aA Call: ```solidity registerNetwork() ``` using the address that will own and manage the application. ## 3. Register the Middleware Once the middleware has been deployed, associate it with the registered application. ### NetworkMiddlewareService **Contract** https://etherscan.io/address/0xD7dC9B366c027743D90761F71858BCa83C6899Ad Call: ```solidity setMiddleware() ``` using the same address that registered the network, passing the middleware contract address. ## 4. Deploy a Vault Applications are secured by collateral supplied through Symbiotic vaults. Vaults are typically deployed by curators either through: * the Curator UI, or * the deployment script. ```bash forge script script/DeployVaultV2.s.sol:DeployVaultV2Script \ --rpc-url=RPC \ --account=ACCOUNT \ --sender=SENDER \ --broadcast ``` Deployment script: https://github.com/symbioticfi/core/blob/bcaa6e2fbb4a2e10c416d45f9496865504e23d83/script/DeployVaultV2.s.sol ## 5. Deploy an AppAdapter Each AppAdapter represents one vault-backed guarantee for a specific: * subnetwork * operator The application must therefore define: * which vault provides collateral, * which operator is being secured, * which middleware controls slashing, * how long collateral remains slashable, * where slashed collateral is sent. ## Deployment Parameters | Parameter | Description | | ----------------- | ---------------------------------------- | | `OWNER` | Owner/admin of the adapter | | `VAULT` | Vault providing collateral | | `BURNER` | Recipient of slashed collateral | | `DURATION` | Slashability / guarantee duration | | `OPERATOR` | Operator secured by this adapter | | `SUBNETWORK` | Subnetwork identifier | | `CONVERTER` | Optional converter back into vault asset | | `ADAPTER_FACTORY` | Factory contract used for deployment | | `VERSION` | Adapter implementation version | Deploy using: ```bash forge script script/adapters/DeployAppAdapter.s.sol:DeployAppAdapterScript \ --rpc-url=RPC \ --account=ACCOUNT \ --sender=SENDER \ --broadcast ``` Deployment script: https://github.com/symbioticfi/core/blob/bcaa6e2fbb4a2e10c416d45f9496865504e23d83/script/adapters/DeployAppAdapter.s.sol ## 6. Whitelist the AppAdapter After deployment, the AppAdapter must be whitelisted by Symbiotic. Symbiotic calls: ```solidity setWhitelistedStatus() ``` inside the `AdapterRegistry`, passing: * vault address * adapter address Only whitelisted adapters can later be attached to vaults. ## 7. Add the AppAdapter to the Vault Finally, the curator connects the AppAdapter to the vault. This is done by calling: ```solidity addAdapter() ``` on the vault's `UniversalDelegator`. Source: https://github.com/symbioticfi/core/blob/bcaa6e2fbb4a2e10c416d45f9496865504e23d83/src/contracts/delegator/UniversalDelegator.sol ```solidity function addAdapter(address adapter) ``` The function: * verifies the adapter has been whitelisted, * ensures it hasn't already been added, * assigns an adapter index, * grants allocation permissions, * enables the adapter to allocate and deallocate collateral from the vault. Once this step is complete, operators can receive collateral allocations through the AppAdapter, and the middleware can begin enforcing the application's slashing logic. # Get Started Build applications on top of Symbiotic and access protocol data. Use these resources to integrate Symbiotic into your project.
} href="/integrate/builders-researchers/ai-resources" />
# AI Resources ## Assistant ## Materials ### Documentation | Description | Actions | | ---------------------------- | ---------------------------------------------------------------------------------------------------- | | Navigation index | | | Full documentation | | | Full documentation with Code | | # Relay Symbiotic Relay is the verification layer for stake-backed attestations. It connects validator sets, voting power, secure attestations, and settlement so networks can coordinate off-chain work and verify outcomes on-chain. ## Core Topics * [Voting Power](/learn/relay/voting-power) * [Valset (Validator Set)](/learn/relay/valset) * [Secure Attestations](/learn/relay/secure-attestations) * [Settlement](/learn/relay/settlement) # Developers Hub ## Integrate
} href="/v1/integrate/networks" /> } href="/integrate/curators" /> } href="/v1/integrate/operators" />
## Use Tools
} href="/integrate/builders-researchers/ai-resources" />
# Relay Quickstart Symbiotic Super Sum spins up a relay network that runs simple sum computations. Schedule a job on any supported chain and the result is posted to every supported destination chain. ![relay-network.png](/img/relay-network.png) :::steps ## Clone Repository & Install Dependencies Clone the Symbiotic Super Sum repository, initialize its submodules, and install the dependencies. ```bash [bash] git clone https://github.com/symbioticfi/symbiotic-super-sum.git cd symbiotic-super-sum git submodule update --init --recursive npm install ``` The `symbiotic-super-sum/` directory is created and includes initialized submodules. ## Generate Network Configuration Generate the local network definition and helper artifacts Docker uses to start the stack. ```bash [bash] ./generate_network.sh ``` The script prompts for operator counts and creates a new `temp-network/` directory with `docker-compose.yml` and writable data directories. ## Start Network Launch the Anvil chains, deployer, and relay services defined in the generated Compose file. ```bash [bash] docker compose --project-directory temp-network up -d ``` This command launches the network services in Docker containers. ```bash [Expected output] symbiotic-super-sum % docker compose --project-directory temp-network up -d [+] Running 9/9 ✔ Network temp-network_symbiotic-network Created 0.1s ✔ Container symbiotic-anvil-settlement Healthy 4.2s ✔ Container symbiotic-anvil Healthy 4.2s ✔ Container symbiotic-deployer Exited 128.5s ✔ Container symbiotic-genesis-generator Exited 138.2s ✔ Container symbiotic-relay-1 Started 138.4s ✔ Container symbiotic-relay-2 Started 138.4s ✔ Container symbiotic-sum-node-1 Started 138.6s ✔ Container symbiotic-sum-node-2 Started ```
Check status: ```bash [bash] docker compose --project-directory temp-network ps ``` View logs: ```bash [bash] # View all logs docker compose --project-directory temp-network logs -f # View specific service logs docker compose --project-directory temp-network logs -f anvil docker compose --project-directory temp-network logs -f anvil-settlement docker compose --project-directory temp-network logs -f deployer docker compose --project-directory temp-network logs -f genesis-generator docker compose --project-directory temp-network logs -f relay-sidecar-1 docker compose --project-directory temp-network logs -f sum-node-1 ``` Stop the network: ```bash [bash] docker compose --project-directory temp-network down ``` Clean up data: ```bash [bash] docker compose --project-directory temp-network down -v rm -rf temp-network ```
## Create Task Submit a sum task to the network. ```bash [bash] taskID=$(cast send --rpc-url http://127.0.0.1:8545 --json \ --private-key 0xac0974bec39a17e36ba4a6b4d238ff944bacb478cbed5efcae784d7bf4f2ff80 \ 0x4826533B4897376654Bb4d4AD88B7faFD0C98528 \ "createTask(uint256,uint256)" 33 9 | jq -r '.logs[0].topics[1]') ``` This creates a task for the network, which later collects the required number of attestations and broadcasts the result to every supported destination chain. ## Verify Task Result It is possible to verify result on the first chain: ```bash [bash] result=$(cast call --rpc-url http://127.0.0.1:8545 \ 0x4826533B4897376654Bb4d4AD88B7faFD0C98528 \ "responses(bytes32)" $taskID) cast decode-abi --json "data()(uint48,uint256)" $result ``` It is also possible to verify result on the second chain: ```bash [bash] result=$(cast call --rpc-url http://127.0.0.1:8546 \ 0x5FC8d32690cc91D4c39d9d3abcBD16989F875707 \ "responses(bytes32)" $taskID) cast decode-abi --json "data()(uint48,uint256)" $result ``` This prints the task result with the corresponding timestamp. ```bash [Expected output] symbiotic-super-sum % result=$(cast call --rpc-url http://127.0.0.1:8545 \ 0x4826533B4897376654Bb4d4AD88B7faFD0C98528 \ "responses(bytes32)" $taskID) cast decode-abi --json "data()(uint48,uint256)" $result [ 1754052445, 42 ] ``` ## Build!
} href="/v1/integrate/networks/" />
::: # **Ecosystem** ## Networks
## Curators
## Operators
# Bridges and Cross-chain Messaging ## **Problem** Cross chain protocols typically run isolated validator sets or oracle committees per route, which is expensive, slow, and does not scale. Costs grow with validator count, so verifying hundreds of operators on the EVM becomes prohibitive, while committee signatures and relayer hops add latency. Security is fragmented because every bridge ships its own trust model and attack surface, and operators often have weak economic alignment with unclear slashing paths. Finality differences across chains complicate safe verification, and each new chain or pair demands bespoke integrations, audits, and ongoing operations, creating vendor lock in and brittle user experience when messages are delayed or stuck. ## **Solution** The Relay gives you one validation layer for everything: turn any cross-chain message into a **money backed, stake secured attestation** you can verify on any destination chain. You ship faster, spend less, and gain clearer guarantees. Some of the Relay advantages can be found below: * **Cheaper at scale.** BLS aggregation with optional ZK keeps EVM verify gas essentially flat, even with large validator sets. * **Stronger security.** Attestations are backed by bonded stake with explicit slashing and configurable quorum. * **Faster to market.** Lightweight client and SDK replace bespoke relayers and committees, reducing code and audits. * **Portable across chains.** One attestation format, one verifier; add a chain by deploying the verifier and an adapter. * **Works with existing stacks.** Thin adapters feed DVN, Hyperlane, governance, feeds, or your app logic. * **Full control.** Customize validator sets, quorum thresholds, stake types and amounts, challenge windows, and slashing rules. ## **How it Works** 1. **Observe and package.** An event or message is observed on the source chain and packaged with block height, domain, nonce, and expiry. 2. **Attest and aggregate.** A configurable quorum of operators signs the package; signatures are aggregated with BLS and backed by bonded stake. 3. **Verify on destination.** The verifier contract checks quorum and weights, validates metadata, enforces replay and time bounds, and verifies the aggregate. With optional ZK, verification remains near constant in gas even as the validator set grows. 4. **Settle the outcome.** After verification, adapters execute the intended action: mint or burn, update a feed, trigger a bridge transfer, call governance or settlement, or hand a standard proof to DVN or Hyperlane. Each attestation emits a unique ID and events for auditability and monitoring. ![Flow](/img/cross-chain-1.svg) ## **Application Examples** 1. **Economic-secured bridge (DVN, ISM, etc.) for LSTs/stablecoins** Asset issuers use their governance token as slashable collateral to secure bridging routes and enforce mint/burn discipline. 2. **Cross-chain collateralized lending** Let users borrow on Chain A while holding collateral on Chain B, with Relay attestations guaranteeing state and liquidations. 3. **Canonical mint/burn across rollups** Fast, verifiable attestations to burn on the origin and mint on the destination to keep a single canonical supply for tokens. 4. **Cross-chain governance execution** Pass a proposal on the home chain and execute upgrades or parameter changes on connected chains via attested messages. 5. **DEX settlement & order routing** Attest trade fills or intent resolutions on one chain and finalize accounting on another without custom oracles. 6. **NFT & identity portability** Verifiably transfer ownership/metadata across chains for collections, game items, or credentials. 7. **Cross-chain payments & payouts** Batch attest deposits/withdrawals to move balances instantly between chains for wallets, fintech, and exchanges. ## References * [Bridges Cross Chain Networks](https://www.notion.so/Bridges-Cross-Chain-Networks-28b81c079c178048aa47caed85bcdbc9?pvs=21) * [Build DVN backed by Symbiotic’s Economic Security Framework](https://www.notion.so/Build-DVN-backed-by-Symbiotic-s-Economic-Security-Framework-27081c079c1780c185dee9212d1702b3?pvs=21) * [Github Relay Contracts](https://github.com/symbioticfi/relay-contracts) # Chain Agnostic Applications ## **Problem** Appchains often spin up bespoke validator sets, multisigs or custom messaging paths per use case (governance messages, bridges, feeds). Each new route brings another committee, relayer and audit. Latency creeps in through off chain hops, costs grow with validator counts, and security fragments across custom trust assumptions. Native finality and slashing exist, but slashing paths for cross chain outcomes are typically indirect or out of band, and every extra chain or pairing demands new glue code and operations. ## **Solution** Relay gives appchains a single validation layer for cross chain outcomes. It turns any source chain event into a stake secured attestation that your appchain can verify natively (as a module, contract or runtime component) and act on immediately. Why this is a fit for any appchains: * **Cheaper at scale.** BLS aggregation and optional ZK keep on chain verification costs close to constant even as the operator set grows. This is especially useful when you need to verify large validator sets or frequent updates coming from ecosystems like Ethereum. * **Clearer guarantees.** Attestations are backed by bonded stake and explicit slashing rules in Symbiotic. You define the quorum, weights and signing conditions that must be met for your appchain to accept an update. * **Faster to production.** A thin adapter (native module, precompile or contract) replaces ad hoc relayers or custom committees. You deploy a single verifier on your appchain and wire it directly into your application logic and state transition rules. * **Portable across stacks.** One attestation format, many destinations. The same cryptographic proof can be verified on an appchain today and on an EVM rollup, L2 or other execution environment tomorrow, without redesigning your security model. * **Composable with existing bridges.** You can keep using existing bridging stacks (IBC, light clients, CCIP style routers or custom bridges) where they shine, and feed Relay attestations into modules that need external state with explicit slashable guarantees. Proofs can also be handed off to existing routing or governance logic. * **Operator control.** You can customize validator sets, quorum thresholds, stake types, challenge windows and slashing rules per appchain or even per message route, aligning Relay’s security model with each application’s specific risk profile. ## How it Works 1. **Observe & package.** Off-chain Relay nodes watch a source chain, pick up your event / message, and package it with `{source domain, block/height, nonce, expiry}`. 2. **Attest & aggregate.** A configurable quorum of operators signs. Signatures are aggregated with BLS and linked to bonded stake in Symbiotic. 3. **Verify on your appchain.** Your appchain verifies the attestation through a light verifier provided by the Relay SDK as a module, contract or runtime component. It checks weights and quorum, metadata, replay protection and the aggregate signature. With optional ZK, verify cost remains close to flat as the operator set grows. 4. **Settle the outcome.** After verification, an adapter module or contract executes. It can mint or burn, update a price feed, finalize a bridge transfer, trigger governance or emit an event for downstream modules. The pattern is the same across stacks so you wire Relay into your appchain using the primitives that are native to your environment. ![Chain Agnostic Applications](/img/chain-agnostic-applications.svg) ## Application Examples 1. **Secure your L1 consensus at genesis (no bootstrap from 0)** Launch without resorting to a centralized multisig or a tiny, weak validator set. Your chain imports slashable economic security directly from a Symbiotic vault: the Relay delivers an attested operator set and weights; your adapter maps those weights to consensus voting power and emits `ValidatorUpdates`. Mis-attestations are slashable at the vault, so security is real on day one - no “trust us until we decentralize” phase.

**Why it matters**: you avoid the bootstrapping trap, ship safely on day 1, and can progressively add native stake over time (dual-sourcing security or switching entirely when ready). 2. **Canonical mint and burn across two L1s** Keep a single canonical supply without bespoke multisigs. Burns on Chain A are attested through Relay. Your adapter on Chain B verifies and mints with nonces and expiries for replay protection. 3. **DEX settlement and intent routing across L1s** Resolve on Chain A, finalize accounting on Chain B. The adapter verifies once and updates balances / positions in your DEX or settlement module. 4. **Cross domain oracle or state feeds into an appchain module** Import external state for example LST rates or rollup headers into an oracle or system module on your appchain. Relay provides explicit slashable guarantees together with fixed expiries and clear challenge windows. # Decentralized Compute and AI Verification ## **Problem** Decentralized compute today is **costly, brittle, and easy to game**. Most systems rely on ad-hoc coordinators, TEEs, or multisig committees that don’t provide chain-agnostic, slashing-enforced guarantees. Notable shortcomings include: * **High cost:** bespoke committees/light clients per network, many sig verifications on-chain, custom relayers, repeated audits, and over-provisioned capacity drive unit economics up. * **Attack surface:** forged results, equivocation (conflicting outputs), replay of old results, censorship/withholding, collusion among runners, coordinator DoS, key compromise, MEV/front-running on result publication, and TEE quote spoofing without on-chain anchoring. * **Weak incentives:** runners often have little or no bonded stake; slashing paths are unclear or social, so bad behavior is cheap. * **Operational opacity & lock-in:** logs and receipts are off-chain/opaque, integrations are bespoke per chain or vendor, and portability is poor. ## **Solution** Relay turns each off chain computation, including container jobs, into a stake backed, verifiable receipt. These receipts can be checked on chain and, once approved, automatically trigger payments, unlocks, or workflow steps. There are no custom committees or heavy coordination, only clear proof that a job was done, with built in penalties for cheating or missed deadlines, lower costs at scale, and portability across any cloud or chain. Some of the Relay advantages can be found below: * **Usage-based, provable billing:** verifiable receipts include runtime/metrics so you can meter, invoice, and settle on-chain per job or per epoch. * **SLA enforcement:** late, missing, or conflicting results are objectively slashable; clients get deterministic inclusion and dispute windows. * **Lower verification cost:** aggregate many job receipts once per epoch → one on-chain verify for hundreds/thousands of tasks. * **Input/Output integrity:** bind container image digest, parameters, data CIDs, and output/artifact hashes into the receipt to prevent tampering or replay. * **TEE or ZK, your choice:** attach a TEE quote hash or a zk proof of execution when available; Relay’s stake guarantees still secure the base path. * **Multi-cloud portability:** same receipt format and Verifier across L1s/rollups; run workers on any infra (K8s, bare-metal, cloud) without vendor lock-in. * **Fair marketplace for runners:** bonded operators with reputations and slashing create credible supply; optional per-capability whitelists (GPU, RAM, CUDA). * **Composable callbacks:** post-verify adapters can release escrow, mint compute credits, advance workflows, or trigger subsequent jobs. ## How it Works 1. **Register and bond**: Operators enroll for the compute task, publish keys and capabilities, and lock stake that can be slashed. 2. **Submit job**: The client posts a job with an input commitment that binds image or runtime, parameters, and data. 3. **Execute off chain**: A worker runs the job. A small Sidecar measures runtime and resources, and derives an output commitment for results and artifacts. 4. **Attest**: Operators sign a job receipt that includes task id, job id, input hash, output hash, metrics, epoch, and nonce. Receipts can also include a TEE quote hash or a zk proof. 5. **Aggregate**: Receipts are BLS-aggregated and optionally batched per epoch to amortize costs. 6. **Verify on chain**: The Verifier contract checks quorum, stake weight, freshness, and anti-replay. 7. **Trigger action**: After verification, an Adapter releases escrow or payment, mints compute credits, advances a workflow, or calls back the app. 8. **Challenge and slash**: Within the challenge window anyone can submit evidence of fraud, equivocation, replay, or missed SLA. Proven faults slash operator stake and can revert or remediate actions per policy. ![Flow](/img/decentralized-compute-1.svg) ## Application Examples 1. **AI inference marketplace** Each inference container runs a Relay Sidecar that signs an attestation with: model ID/version, input hash, output hash, latency, and compute meter. Buyers verify the attestation on-chain before releasing payment; misbehavior can be slashed against the operator’s staked collateral. 2. **Model training and fine-tuning** Trainers emit Relay attestations at checkpoints (per epoch or per N steps) containing dataset/version hashes and metrics (loss/accuracy). Milestone payouts stream only when the on-chain verifier accepts the attested checkpoint; failed or missing checkpoints pause funding and can trigger slashing. 3. **ZK prover network** Prover nodes attach Relay to the proving container. When a proof is generated, the Sidecar signs an attestation with the proof commitment and job ID. The consumer contract verifies both: (1) the proof itself and (2) the Relay signature tied to a bonded operator, then releases payment atomically. 4. **Indexing and ETL pipelines** Indexers process ranges (e.g., blocks 10M–10.1M) and emit Relay attestations with range coverage, schema version, and result checksum. Consumers (subgraphs, data apps) pay per attested range and can reconstruct a full index by verifying a sequence of signed ranges from a quorum. 5. **Edge Compute** Edge devices process shards of a job and sign shard-level Relay attestations (shard ID, input/output hashes, timing). An aggregator contract verifies a threshold of shard attestations, reconstructs the job result, and then settles payments pro-rata; faulty shards are isolated and penalized. ## References * [Cloud Compute Decentralized Docker](https://www.notion.so/Cloud-Compute-Decentralized-Docker-28b81c079c1780f59256daa4e8b090c9?pvs=21) * [Relay Collateral](https://www.notion.so/Relay-Collateral-28b81c079c1780bb99e7e7cf66a0e15f?pvs=21) * [Github Relay Contracts](https://github.com/symbioticfi/relay-contracts) # General Attestation Layers ## **Problem** Off-chain agents and many L2 systems do not have a native trust layer. You cannot easily prove that a check was performed, a condition held true, or a message is safe to act on. Current approaches are permissioned, costly to extend, and lack clear economic guarantees or dispute paths. ## **Solution** Relay lets any agent or system produce a **stake-backed, verifiable attestation** about external state or completed actions. Attestations are checked on chain for quorum, freshness, and consistency, and bad behavior is slashable. Once verified, adapters can trigger actions such as mint, transfer, unlock, vote, or update state. One receipt format and one verifier work across L1s and rollups, so you can add new domains without rebuilding trust from scratch. ## How it Works 1. **Register and bond.** Agents or operators enroll for a task and lock stake that can be slashed. 2. **Define the condition.** Specify what must be checked, the cadence or event trigger, and the dispute window. 3. **Observe and decide.** Agents perform the check or computation and determine the outcome. 4. **Attest and aggregate.** Agents sign the result with timing and context, and signatures are combined into one proof. 5. **Verify on chain.** A verifier checks quorum, stake weight, freshness, and anti-replay. 6. **Trigger action.** An adapter executes the approved action or writes the result for other contracts to consume. ![Flow](/img/decentralize-network-1.svg) ## Application Examples 1. **L2 fast finality** Operators attest that an L2 block or batch is safe after specific checks, giving near-instant usable finality for bridges and apps while full finality catches up. 2. **Autonomous agent receipts** AI or automation agents attest to tasks they performed such as compliance checks, data validation, or workflow steps, unlocking funds or advancing pipelines only when receipts pass verification. 3. **Uptime and SLA monitors** Watchdogs attest liveness and performance of services such as sequencers or keepers and automatically apply penalties, rebates, or failover when thresholds are missed. 4. **Decentralized sequencer** A set of bonded operators attest that a given L2 block or batch is available, correctly ordered, and built under the declared rules. The attestation is stake-backed and verified on chain, then a small adapter accepts the batch, releases bridge messages, or advances state. Misbehavior such as equivocation, censorship beyond policy, invalid ordering, or missed slots can be disputed and slashed. You also get usable fast-finality receipts for bridges, liveness SLAs with automatic failover, and optional hooks to enforce fairness policies (e.g., inclusion lists or MEV limits) via the same attestation flow. 5. **Circuit-breaker signals** Publish slash-backed alerts for depeg risk, abnormal volatility, or halted markets that protocols use to tighten limits or pause actions. ## References * [General Attestation Layers](https://www.notion.so/General-Attestation-Layers-28b81c079c178072af48f99f444266c6?pvs=21) * [Relay Collateral](https://www.notion.so/Relay-Collateral-28b81c079c1780bb99e7e7cf66a0e15f?pvs=21) # Insurance and Guarantees ## **Problem** Insurance is one of the oldest and most powerful financial primitives, yet in crypto it remains fragmented, capital inefficient, and difficult to scale. Most onchain insurance protocols rely on isolated capital pools, bespoke claim processes, and manual governance decisions that slow payouts and limit composability. Underwriters face unclear risk exposure and opaque slashing paths, while policyholders must trust protocol-specific logic and resolver committees. As more real-world assets, credit, and undercollateralized lending move onchain, the lack of programmable, economically enforced guarantees becomes a bottleneck. Protocols struggle to offer credible assurances against default, hacks, oracle failures, or slashing events without overcollateralization or trusted intermediaries. Traditional insurance structures do not map cleanly to onchain systems, and existing designs fail to leverage the new primitives introduced by staking: slashable collateral, automated redistribution, and shared economic security. ## **Solution** Symbiotic enables a new class of fully programmable insurance and guarantee products, where coverage is enforced by bonded capital and claims are settled through transparent, onchain mechanisms. Instead of isolated pools and bespoke logic, insurance protocols can leverage Symbiotic’s universal staking primitives to build reusable, modular risk products backed by collateral. Some of the key advantages can be found below: * **Economic enforcement by design.** Claims are paid from bonded stake with explicit slashing and redistribution rules. * **Capital efficiency.** Reuse existing vault liquidity, create risk tranches, or stack multiple guarantees on the same capital. * **Automation at scale.** Claims, payouts, and penalties can be triggered programmatically via oracles, middleware, or committees. * **Composable guarantees.** The same vaults can back insurance, credit guarantees, bridge security, or protocol risk. * **Flexible trust models.** Mix automated triggers with human resolvers, governance, or legal agreements where required. * **Permissionless or compliant.** Support both open, onchain insurance and permissioned, institution-grade structures. ## **How it Works** 1. **Capital is staked.** Underwriters deposit assets into Symbiotic vaults, providing slashable risk capital in exchange for yield. 2. **Coverage is issued.** Insurance protocols define policy terms, premiums, coverage limits, and triggers using middleware built on Symbiotic. 3. **Risk is monitored.** Oracles, onchain signals, or offchain monitors track events such as hacks, defaults, depegs, or protocol failures. 4. **Claims are triggered.** Claims can be triggered automatically, submitted manually, or gated by resolver committees. 5. **Assessment and settlement.** If a claim is approved, vault capital is slashed and redistributed to policyholders according to predefined rules. ### Mapping Insurance to Symbiotic | Primitive | Description | Symbiotic Implementation | | ---------------- | -------------------------------------- | ----------------------------------------------------------------------- | | Risk Capital | Capital pools backing insurance claims | Vaults managed by curators, holding slashable collateral from restakers | | Underwriters | Capital providers earning premiums | Restakers depositing into vaults and assuming risk | | Policyholders | Users purchasing coverage | Can be represented via dedicated, permissioned, or tokenized vaults | | Premiums | Fees paid for coverage | Upfront payments, streaming rewards, or continuous slashing | | Risk Scoring | Pricing and eligibility logic | Integrated into curator or protocol-level pricing models | | Coverage Terms | Scope, limits, triggers | Middleware contracts, or hybrid onchain/offchain agreements | | Claims Process | How claims are initiated | Automated triggers or manual submission flows | | Claim Assessment | Validation of claims | Resolver committees, governance, oracles, or hybrid systems | | Oracles | External data feeds | Decentralized oracle networks, optionally secured by Symbiotic | | Reinsurance | Secondary protection layer | Dedicated reinsurance vaults covering multiple risk pools | ## References * [Github Relay Contracts](https://github.com/symbioticfi/relay-contracts) # Liquidity Management ## **Problem** Overcollateralized designs trap capital and do not scale. Many eligible assets, especially RWAs, are illiquid or settle slowly, so redemptions either take a haircut through discounts and slippage or require waiting through withdrawal periods. ## **Solution** Symbiotic lets you unlock the liquidity already sitting in the Symbiotic vault and turn it into production credit. No new collateral posted upfront. You get capital efficiency on day one while keeping real economic guarantees because the vault can be slashed if policy is breached. For stablecoin issuers and lending markets this means instant liquidity for otherwise illiquid RWAs and smoother redemptions without forced discounts. For intent and execution use cases this means you can run the action now and settle later with a clear rebalance window. Fees flow to the operator on verified completion and the system enforces that the vault balance is restored on time, or slashing applies. The result is more volume, faster time to market, and stronger trust with borrowers and regulators since every action is covered by stake secured guarantees. Symbiotic can also help bridge policy across chains through the Symbiotic Relay. It carries the attestation from the chain where users deposit to the chain where they receive access, so you can originate on any network and serve users everywhere with one verifier and one format. Add a new chain by deploying a thin adapter and keep your existing issuer or lending stack unchanged. In short, Symbiotic turns idle vault liquidity into safe productive credit, gives you instant usability for slow to settle assets, and backs every promise with real money at risk. ## How it Works Here’s the exact flow for Symbiotic using the Relay SDK for epoch management: 1. The network defines the vault to draw from, the rebalance window, and the payment rules. 2. The network slashes the Symbiotic vault to access liquidity for the action. 3. Liquidity is used for the intended purpose, to early-redeem illiquid RWAs or to fulfill an intent. 4. The associated operator executes the intent, and funds are delivered to the user ![Liquidity Management 1](/img/liquidity-management-1.svg) 5. The network manager or operator rebalances the Symbiotic vault by adding the collateral deposited by the user when expressing the intent. 6. The operator produces an attestation that the intent was executed and the user received the funds. 7. The settlement contract verifies the attestation and receives the current vault state for collateral valuation in the same epoch. 8. If policy is satisfied, the contract triggers payment to the operator or solver. 9. If policy fails or the restore window is missed, the operator or solver is slashed. If they have a protection layer in another Symbiotic vault, slashing is applied there according to policy. ![Liquidity Management 1](/img/liquidity-management-2.svg) ## Application Examples 1. **Intent Fulfillment** An application or network needs to execute a user intent, for example settling an order, bridging a payment leg, or performing a market action, without waiting for fresh collateral. The network designates a Symbiotic vault as the backstop, sets a restore window and payment rules, and draws liquidity by slashing the vault to execute the intent immediately so the user receives the funds or outcome. The associated operator then produces an attestation that the intent was executed correctly and on time. The settlement contract verifies the attestation and, before the epoch ends, the manager or network admin replenishes the vault. If everything checks out, the contract releases the operator fee. However, if the proof is missing, late, or inconsistent with the vault state, the operator is slashed. If the operator has a protection layer in another Symbiotic vault, slashing is applied there according to the configured rules. 2. **Illiquid RWA Early Redemption** A stablecoin issuer or lender faces a redemption request while part of the reserves sit in illiquid or slow-to-settle RWAs. Instead of forcing users to wait through withdrawal periods, the issuer taps the Symbiotic vault as a secured liquidity buffer. The network defines the qualified vault, the maximum early redemption headroom, a restore window aligned to the RWA settlement horizon, and the fee model. Liquidity is drawn from the vault to pay the user immediately, in return for a small fee. An operator or designated agent executes the redemption flow and produces an attestation that the user received funds. The settlement contract verifies the attestation and, before the epoch ends, reads the current vault state to confirm the required collateral is present for that same epoch. The network manager must deposit the funds back into the Symbiotic vault before the epoch ends; once that balance is observed in-epoch, the contract releases the operator’s fee and the restore window closes. If the deposit is not observed before epoch end, slashing applies to the responsible party or their protection layer. ## References * [Relay Collateral](https://www.notion.so/Relay-Collateral-28b81c079c1780bb99e7e7cf66a0e15f?pvs=21) # Oracle Networks and Data Feeds ## **Problem** Most oracle systems are rigid and permissioned, with fixed committees and bespoke integrations per chain. Expanding coverage is expensive, updates can be slow or stale, and manipulation risk remains due to weak incentives, limited slashing, MEV at publication time, and unclear dispute processes. Portability across chains is poor and auditability is fragmented. ## **Solution** Relay acts as a **universal oracle engine**. Any approved operator can fetch off-chain data and produce a **stake-backed attestation** that is: * **Verifiable on chain** with BLS aggregation and anti-replay. * **Backed by bonded validators** with explicit slashing for bad data, equivocation, or missed SLAs. * **Programmable** via schemas for prices, TWAPs, risk scores, proof-of-reserves, or custom metrics. * **Cheaper at scale** by batching many feed updates into one verification. * **Composable across EVMs** and compatible with CCIP-style routing through thin adapters. * **Auditable** with on-chain receipts and clear freshness guarantees. ## How it Works 1. **Register and bond.** Operators join the feed and lock stake as collateral. 2. **Define the feed.** You set what data to track, how often to update, how to combine sources, and the service levels. 3. **Collect and compute.** Operators fetch data from chosen sources and calculate the feed’s current value. 4. **Attest.** Each operator signs the result with timing and round details. 5. **Aggregate.** The signatures are combined into a single proof for that update window. 6. **Verify on chain.** A verifier checks that enough staked operators signed, the update is fresh, and it is not a replay. 7. **Publish or trigger.** The value is written on chain or passed to protocols that use it. 8. **Dispute and slash.** If an update is wrong, late, or inconsistent, anyone can dispute within a window and dishonest operators are slashed. ![Flow](/img/oracle-networks-1.svg) ## Application Examples 1. **DeFi price feeds** Pull quotes from major CEX and DEX venues, compute a median or short TWAP with venue weighting and outlier filters, then attest the value with a timestamp and deviation flag. Set a heartbeat and a max staleness window so lending and perp engines only accept fresh rounds. If an attested value is outside the allowed deviation band or uses stale sources, operators are slashable and the adapter will refuse the update. 2. **Perp funding and index price** Define an index basket per asset, sample every few seconds, and publish round values on a fixed cadence. Funding is derived from index minus mark with clamps and a rolling window, then attested and verified on chain so funding transfers and insurance accounting execute deterministically. Any missing interval or conflicting rounds within the window is disputable and can lead to slashing. 3. **Proof of reserves** Bonded operators produce a **stake-backed, verifiable attestation** of total reserves versus circulating liabilities, with timestamp, heartbeat, and deviation guards. The attestation is checked on chain for quorum and freshness; misreporting, conflicting rounds, or missed SLAs can be **slashed** against bonded collateral. After verification, adapters gate mint and burn so supply cannot exceed attested reserves, pause on staleness, and record every round for auditability. 4. **LST risk score** Compute a composite score from on chain metrics such as pool depth, oracle deviation to spot, withdrawal queue length, historical depeg distance, and validator set concentration. Publish the score on a regular cadence with thresholds that protocols map to collateral factors or caps. Large moves require multiple consecutive rounds to prevent whipsaw, while clear breaches can immediately tighten risk parameters. 5. **NFT floor price** Aggregate bids and sales from leading marketplaces, remove wash trades and self matches, and compute a robust floor using median of top bids with liquidity filters. Per collection feeds are attested with collection id, floor, and liquidity score; NFT backed lending vaults use the value with conservative haircuts and a freshness check. If market data is thin, the adapter can hold the last good value until quorum resumes. 6. **CCIP routing data** Publish per chain gas prices, route health, and token exchange rates that cross chain routers consume to select paths and set fees. Attest route liveness and recent failure counts so routers can avoid degraded links. Deviation guards and freshness windows ensure routers never act on stale or manipulated signals. ## References * [Oracles Data Feeds](https://www.notion.so/Oracles-Data-Feeds-28b81c079c1780d284fff271a7b9e7f0?pvs=21) * [EXTERNAL GUIDE Symbiotic Relay SDK](https://www.notion.so/EXTERNAL-GUIDE-Symbiotic-Relay-SDK-1f981c079c17802090f6db09a4b7b7e2?pvs=21) # Relay SDK ## **The Framework for Stake-Secured Applications** The Symbiotic Relay SDK is the trust layer for data and computation. It turns any data, computation, or event into **money backed, stake secured attestations** that settle on chain and trigger programmable outcomes. With Relay you: * **Reduce and keep costs constant at scale.** Validator-set verification uses BLS aggregation and optional ZK compression to keep EVM verify gas essentially flat, regardless of validator set size. * **Put capital behind data.** Every attestation is secured by stake and can be subject to slashing. * **Reduce integration friction.** One standardized attestation flow replaces bespoke oracles and middleware. * **Automate across chains.** Verify once, then mint, swap, bridge, update feeds, or call adapters anywhere. > Relay is the missing link between computation and consensus, the universal economically secured proof layer for the modular internet. ## The Problem that Relay Solves Large validator sets became prohibitively expensive to verify across chains. Networks with hundreds of operators were facing millions per year in verification costs on Ethereum alone. At the same time, protocols that wanted to run multichain were pushed into Proof-of-Authority models because staking data was not available cross-chain in a usable, verifiable way. ## **How it Works** 1. ***Application Layer*** Any app or service performs a task: fetching prices, running an AI model, or monitoring transactions. 2. ***Relay Network*** Operators in the Relay Network generate cryptographic attestations that confirm the task was executed as claimed. 3. ***Relay Settlement*** These attestations are verified on-chain using validator stakes within Symbiotic Core contracts. 4. ***On-Chain Action*** Once verified, the attestation can trigger any programmable outcome: * Mint a token * Update a price feed * Trigger a bridge transaction * Perform a swap * Feed data into a DeFi protocol ![Figure 1 - Relay Flow for Cross-Chain Applications](/img/relay-overview-1.svg) ## **Key Value Proposition** The Relay turns any external workload into a verifiable on-chain action. Networks plug in a lightweight client, inherit stake-backed security with slashing, and use a single attestation flow that works across chains and use cases. The result is less code to maintain, clearer guarantees, and a portable integration you can reuse everywhere. ### Relay Advantages * **Cheaper at scale** Validator-set verification uses BLS aggregation (and optional ZK compression) to keep EVM verification costs essentially constant, independent of validator count. This removes the linear cost curve that made large decentralized sets impractical. * **Ship faster** Replace bespoke middleware with a small client + SDK. Fewer contracts to write and audit → shorter path to mainnet. * **Cross-chain by default** Verify and trigger outcomes on any EVM; plug into Hyperlane/DVN/others through adapters. * **Stronger guarantees** Attestations are backed by staked validators with slashing. You inherit economic security instead of trusting a vendor or multisig. * **Unified interface** One attestation format for any workload (AI, compute, data, bridge ops). No new pipeline per use case. * **Smaller attack surface** Less custom glue code, fewer moving pieces, clearer trust model. * **Deterministic programmability** Attestations can mint, swap, bridge, update feeds, call adapters → compose like Lego across verticals. * **Cost predictability** Pay for attestation + on-chain verify; avoid standing infra and surprise ops costs. * **Vendor neutrality** Bring your own operators/curators, swap them out, or add more. No lock-in. ### Relay Features | Feature | Benefit | | --------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Universal Attestation Framework** | Any data, any computation, any chain → one system for proof generation | | **Verifiable On-Chain** | Proofs backed by staked validators, ensuring economic security | | **Fully Modular SDK** | Developers integrate using lightweight clients in Go, Rust, or TypeScript | | **Chain-Agnostic** | Works across L1s, L2s, and rollups; interoperable with all EVMs. Cosmos integration is available out of the box through a dedicated [SDK](https://github.com/symbioticfi/cosmos-relay-sdk). | | **Programmable & Application-Agnostic** | Plugs into any smart contract workflow; attestations act as a generic trigger for programmable outcomes. | ## System Architecture Every operator runs: * A **Relay Sidecar** → connects to other relay nodes via a p2p network * An **Application Node** → runs arbitrary code (AI, oracle, bridge, etc.) and communicates with the Sidecar through an API Together, these produce **verifiable proofs of arbitrary work**, enabling **on-chain action triggers** and **outcome settlement**. ![Figure 2 - Architecture Overview](/img/relay-overview-2.png) ### How Relay Integrates with Symbiotic Relay plugs into Symbiotic Vaults out of the box, so networks can adopt it immediately and still customize everything, including validator sets, quorum thresholds, collateral, and reward logic. The Relay contracts read staking state from the vaults each epoch to see who the active operators are and how much voting power they have. The settlement contract receives this data, verifies the attestations, and then triggers the onchain outcome. ![Figure 3 - Symbiotic Core + Relay Composability](/img/relay-overview-3.svg) # ABIs And Bindings # APIs # Helpful Core Contracts' Endpoints This page lists useful functions for curators across Symbiotic Core contracts. :::note The delegator setter methods below (`setNetworkLimit()`, `setOperatorNetworkShares()`, …) apply to Vault V1 and older delegator-based vaults. For **Vault V2**, allocation is performed through the Universal Delegator — see [Manage Allocations](/integrate/curators/manage-allocations). ::: | Function | Use-case | | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------- | | [`create(InitParams params) -> address, address, address`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/IVaultConfigurator.sol#L52) | Create a new Vault | | [`Vault.delegator() → address`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/vault/IVaultStorage.sol#L60) | Get the Vault's delegator | | [`Vault.slasher() → address`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/vault/IVaultStorage.sol#L72) | Get the Vault's slasher | | [`BaseDelegator.TYPE() → uint64`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/common/IEntity.sol#L17) | Get the delegator's type (0 - NetworkRestake, 1 - FullRestake, etc.) | | [`BaseDelegator.stake(bytes32 subnetwork, address operator) → uint256`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IBaseDelegator.sol#L150) | Get the operator-network's stake | | [`NetworkRestakeDelegator.setNetworkLimit(bytes32 subnetwork, uint256 amount)`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/INetworkRestakeDelegator.sol#L136) | Set an amount of collateral to allocate to the network | | [`NetworkRestakeDelegator.networkLimit(bytes32 subnetwork) -> uint256`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/INetworkRestakeDelegator.sol#L84) | Check the network's allocation | | [`NetworkRestakeDelegator.setOperatorNetworkShares(bytes32 subnetwork, address operator, uint256 shares) `](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/INetworkRestakeDelegator.sol#L147) | Set the operator's share from the network's allocation | | [`NetworkRestakeDelegator.operatorNetworkShares(bytes32 subnetwork, address operator) -> uint256`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/INetworkRestakeDelegator.sol#L128) | Check the operator-network's shares | | [`FullRestakeDelegator.setNetworkLimit(bytes32 subnetwork, uint256 amount)`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IFullRestakeDelegator.sol#L112) | Set an amount of collateral to allocate to the network | | [`FullRestakeDelegator.networkLimit(bytes32 subnetwork) -> uint256`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IFullRestakeDelegator.sol#L81) | Check the network's allocation | | [`FullRestakeDelegator.setOperatorNetworkLimit(bytes32 subnetwork, address operator, uint256 amount)`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IFullRestakeDelegator.sol#L122) | Set the operator's limit over the network's allocation | | [`FullRestakeDelegator.operatorNetworkLimit(bytes32 subnetwork, address operator) -> uint256`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IFullRestakeDelegator.sol#L104) | Check the operator-network's limit | | [`OperatorSpecificDelegator.setNetworkLimit(bytes32 subnetwork, uint256 amount)`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IOperatorSpecificDelegator.sol#L85) | Set an amount of collateral to allocate to the network | | [`OperatorSpecificDelegator.networkLimit(bytes32 subnetwork) -> uint256`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IOperatorSpecificDelegator.sol#L77) | Check the network's allocation | | [`OperatorSpecificDelegator.operator() -> address`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IOperatorSpecificDelegator.sol#L60) | Check the operator who receive all the allocations | | [`OperatorNetworkSpecificDelegator.network() -> address`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IOperatorNetworkSpecificDelegator.sol#L44) | Check the network who receive all the allocations | | [`OperatorNetworkSpecificDelegator.operator() -> address`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/delegator/IOperatorNetworkSpecificDelegator.sol#L50) | Check the operator who receive all the allocations | | [`BaseSlasher.TYPE() → uint64`](https://github.com/symbioticfi/core/blob/7cb06639c5cd656d1d212dafa2c270b5fde39306/src/interfaces/common/IEntity.sol#L17) | Get the slasher's type (0 - Slasher, 1 - VetoSlasher) | # Vault Wrapping Sometimes, due to design choices for security guarantees or interaction flow optimization, you can't implement your ideas in a standard way. In these cases, you can wrap the Symbiotic Vault for deposits, slashing, opt-ins, etc. This page presents example cases: ## Mortgage-backed Security Example A **mortgage-backed security (MBS)** is a financial instrument created by pooling together many individual home loans (mortgages) and selling them as a single tradable security. Instead of a bank holding a mortgage and collecting monthly payments, the cash flows (interest and principal) from thousands of mortgages are bundled, then redistributed to investors in the MBS. * **Tranching**: To cater to different investor risk appetites, the pool is divided into **tranches**. * Senior tranches: Get paid first, lower risk, lower yield. * Junior tranches: Get paid later and absorb defaults first, higher risk, higher yield. * **Risk distribution**: This structure spreads default risk across different investor groups and creates a market for varying levels of risk exposure.

Mortgage Backed Securities Structuring and Value Chain
Mortgage Backed Securities Structuring and Value Chain
### Slashing Tranche-Based Vault Wrapper In Symbiotic, **slashing vaults** are pools where collateral is staked to secure external networks or services. Just like mortgages carry **default risk**, staking carries **slashing risk** (collateral may be cut if operators misbehave). Here’s how the analogy works: * **Mortgages = Operator Collateral Positions** Each mortgage in an MBS corresponds to an individual operator’s staked collateral in Symbiotic. Just as homeowners may default, operators may be slashed. * **MBS Pool = Slashing Vault** The pooled mortgages in an MBS map to the **vault of collateral** in Symbiotic. Both aggregate risk into a collective structure. * **Tranches = Vault Risk Segmentation** Symbiotic vaults could be designed with **tranches** similar to MBS: * Senior tranche: Investors who want safer exposure get priority in withdrawals and protection against small slashes (absorbed by junior tranches first). * Mezzanine tranche: Medium-risk exposure, takes losses only after juniors are hit. * Junior tranche: Risk-seeking investors absorb slashing losses first but get higher yield (greater share of staking rewards). * **Cash Flows = Staking Rewards** Just as mortgages generate interest payments, collateral in slashing vaults generates staking rewards or fees. These flows are redistributed to participants, depending on their tranche. * **Risk Transformation** MBS transform mortgage default risk into tiered securities with different profiles. Symbiotic vaults could similarly transform **slashing risk** into structured exposure, letting risk-averse and risk-seeking participants coexist in the same vault.
Tranche-Based (or Slashing Insurance) Vault Segmentation + Redistribution
Tranche-Based (or Slashing Insurance) Vault Segmentation + Redistribution
### Implementation A user (staker) would have 3 choices to deposit a single ERC20 asset (collateral) into a Symbiotic vault. They can either deposit into the junior, mezzanine or senior tranche, according to their risk-profile or portfolio fit. The vault wrapper contract would then deposit the collateral to the Symbiotic vault, and the user would receive (or not, depending on the curator choice) an LST. From our understanding, there may be 2 possibilities to issue the receipt token: **Model A — 3 Separate ERC20s (most common in structured products)** * When a user deposits, they **choose the tranche** (junior, mezzanine, senior). * The wrapper mints them **only that tranche token (LST)**. * Example: * Alice deposits 100 USDC → gets **100 tJNR**. * Bob deposits 100 USDC → gets **100 tSNR**. **Model B — 1 ERC20 + internal “tranche shares” accounting** * Users deposit into the wrapper without selecting a tranche. * The wrapper automatically allocates the deposit across junior, mezz, and senior according to some fixed ratio (e.g., 20/30/50). * The user receives **one unified wrapper-LST** (e.g., `tWRAP`).
Tranche-Based Vault Proposed Implementation
Tranche-Based Vault Proposed Implementation
The entire paper, co-authored with ReSquared can be found here: https://github.com/dias-henrique/Slashing-Insurance-Vaults/blob/main/CESIV.pdf # Relay Quickstart This quickstart walks through the developer workflow that the repo enables: spinning up Symbiotic Core locally, preparing vaults and operators, wiring middleware, and bringing a relay-powered network online. After completing this guide, you will learn how to: 1. Spin up Symbiotic Core locally 2. Set up test Vaults and Operators 3. Configure Your Relay-backed Network's Smart Contracts 4. Bring Your Network Online
``` symbiotic-super-sum ├─ network-scripts │ ├─ deploy.sh │ ├─ genesis-generator.sh │ ├─ sidecar-start.sh │ └─ sum-node-start.sh ├─ off-chain │ ├─ abis/ │ ├─ cmd/ │ │ ├─ benchmark/ │ │ └─ node/ │ │ └─ main.go │ └─ internal/ │ ├─ contracts/ │ │ └─ sumTask.go │ └─ utils/ ├─ script │ ├─ MyRelayDeploy.sol │ ├─ mocks/ │ ├─ my-relay-deploy.toml │ └─ utils/ ├─ src │ ├─ SumTask.sol │ └─ symbiotic │ ├─ Driver.sol │ ├─ KeyRegistry.sol │ ├─ Settlement.sol │ └─ VotingPowers.sol ├─ generate_network.sh ├─ package.json └─ … ```
## Prerequisites Make sure to have all the tools listed below installed before you start. 1. **Git** ([Installation Guide](https://git-scm.com/downloads)) 2. **Foundry** - Ethereum development toolchain ([Installation Guide](https://book.getfoundry.sh/getting-started/installation)) 3. **Node.js** (v18 or later) and **npm** ([Installation Guide](https://nodejs.org/en/download/)) 4. **Docker** ([Installation Guide](https://docs.docker.com/get-docker/)) 5. **Go** (v1.21 or later) ([Installation Guide](https://golang.org/doc/install)) 6. Python (v3.11 or later) ([Installation Guide](https://www.python.org/downloads/)) ## **1. Deploy Symbiotic Core and Setup Your First Vault** ![core-and-vault.png](/img/core-and-vault.png) ### **Deploy Symbiotic Core to your local chain** Symbiotic Core comprises the foundational contracts that govern the Symbiotic ecosystem, offering a comprehensive suite for its administration and interaction. The repository provides pre-configured scripts to facilitate deployment to a local chain, as well as additional utilities designed to streamline ongoing workflows with the core contracts.
`SymbioticCoreInit.sol` is the integration script that spins up fresh factories, registries, vaults, and helper services, then exposes utilities for building test scenarios. `SymbioticCoreConstants.sol` is the address book library that returns the canonical contract set and supported collateral tokens for mainnet, Holešky, Sepolia, and Hoodi. `SymbioticCoreBindings.sol` contains the Foundry broadcast helpers used to create vaults, register operators/networks, manage opt-ins, and exercise slashing flows against those core contracts. Core contracts can be deployed using `_initCore_SymbioticCore` function ([script details](https://github.com/symbioticfi/relay-contracts/blob/main/script/RelayDeploy.sol#L101)): ```solidity [@symbioticfi/relay-contracts/script/deploy/RelayDeploy.sol#101] function getCore() public withoutBroadcast loadConfig returns (SymbioticCoreConstants.Core memory) { if (!SymbioticCoreConstants.coreSupported()) { if (config.get("vault_factory").data.length == 0) { SymbioticCoreConstants.Core memory core = _initCore_SymbioticCore(false); // [!code focus] ``` The console output lists every deployed Symbiotic Core contract (vault factory, registries, opt-in services, etc.). Persist these addresses—you’ll feed them into the rest of the quickstart.
### **Deploy a vault** Vaults are the delegation and restaking management layer of Symbiotic. They handle three crucial parts of the Symbiotic economy: accounting, delegation strategies and slashing processing
The vault is created during operator registration by VotingPowers contract ([see contract details](https://github.com/symbioticfi/relay-contracts/blob/main/src/modules/voting-power/extensions/logic/OpNetVaultAutoDeployLogic.sol#L289)). ```solidity [@symbioticfi/relay-contracts/src/modules/voting-power/extensions/logic/OpNetVaultAutoDeployLogic.sol#289] function createVault( uint64 version, address owner, bytes memory vaultParams, uint64 delegatorIndex, bytes memory delegatorParams, bool withSlasher, uint64 slasherIndex, bytes memory slasherParams ) public returns (address, address, address) { return IVaultConfigurator(IOpNetVaultAutoDeploy(address(this)).VAULT_CONFIGURATOR()) .create( IVaultConfigurator.InitParams({ version: version, owner: owner, vaultParams: vaultParams, delegatorIndex: delegatorIndex, delegatorParams: delegatorParams, withSlasher: withSlasher, slasherIndex: slasherIndex, slasherParams: slasherParams }) ); } ``` For testnet or mainnet vaults you can skip this step and create one directly via the Vault Factory UI at [https://app.symbiotic.fi/create](https://app.symbiotic.fi/create)
## **2. Opt-Ins and Stake Allocation** ![operator-opt-in.png](/img/operator-opt-in.png) ### **Required On-Chain Actions**
In Symbiotic, networks are represented through a network address (either an EOA or a contract) and a middleware contract. Deploy the network contract using the DeployNetworkBase script. During initialization, the network is also registered within NetworkRegistry ([script details](https://github.com/symbioticfi/symbiotic-super-sum/blob/5e7625c8fb16acdd30a7695050f2f7b5c8f44d32/script/MyRelayDeploy.sol#L101)). ```solidity [script/MyRelayDeploy.sol#101] function getNetwork() public withoutBroadcast loadConfig returns (address) { if (config.get("network").data.length == 0) { address[] memory proposersAndExecutors = new address[](1); proposersAndExecutors[0] = getDeployerAddress(); SymbioticCoreConstants.Core memory core = getCore(); vm.broadcast(); address networkImpl = address(new Network(address(core.networkRegistry), address(core.networkMiddlewareService))); config.set( "network", _deployContract( NETWORK_SALT, networkImpl, abi.encodeCall( INetwork.initialize, (INetwork.NetworkInitParams({ globalMinDelay: 0, delayParams: new INetwork.DelayParams[](0), proposers: proposersAndExecutors, executors: proposersAndExecutors, name: "Example Network", metadataURI: "https://example.network", defaultAdminRoleHolder: getDeployerAddress(), nameUpdateRoleHolder: getDeployerAddress(), metadataURIUpdateRoleHolder: getDeployerAddress() })) ), getDeployerAddress(), false ) ); } return config.get("network").toAddress(); } ```
The OperatorRegistry maintains a record of all registered operators. Operators must register here before they can participate in network activities or receive stake allocations ([script details](https://github.com/symbioticfi/symbiotic-super-sum/blob/5e7625c8fb16acdd30a7695050f2f7b5c8f44d32/script/MyRelayDeploy.sol#L371)). ```solidity [script/MyRelayDeploy.sol#371] getCore().operatorRegistry.registerOperator(); ```
Opt-ins are crucial for establishing connections between different entities in the Symbiotic ecosystem. Through the OperatorNetworkOptInService, operators can opt into networks they wish to work with. This signifies their willingness to provide services to these networks. Operators use the OperatorVaultOptInService to opt into specific vaults. This allows them to receive stake allocations from these vaults ([script details](https://github.com/symbioticfi/symbiotic-super-sum/blob/5e7625c8fb16acdd30a7695050f2f7b5c8f44d32/script/MyRelayDeploy.sol#L372)). ```solidity [script/MyRelayDeploy.sol#372] getCore().operatorNetworkOptInService.optIn(address(getNetwork())); // [!code focus] votingPowers.registerOperator(); IVault vault = IVault(votingPowers.getAutoDeployedVault(operator.addr)); getCore().operatorVaultOptInService.optIn(address(vault)); // [!code focus] ```
Network opt into desired vaults by calling `setMaxNetworkLimit()` on each vault’s delegator contract ([script details](https://github.com/symbioticfi/relay-contracts/blob/70dc1ae21bdebf08e2f01246a42e31aee6a1c39d/src/modules/voting-power/extensions/OpNetVaultAutoDeploy.sol#L69)). ```solidity [@symbioticfi/relay-contracts/src/modules/voting-power/extensions/OpNetVaultAutoDeploy.sol#69] (address vault, address delegator,) = OpNetVaultAutoDeployLogic.createVault(operator); _registerOperatorVault(operator, vault); if (isSetMaxNetworkLimitHookEnabled()) { ISetMaxNetworkLimitHook(NETWORK()) .setMaxNetworkLimit(delegator, SUBNETWORK_IDENTIFIER(), type(uint256).max); // [!code focus] } ```
## **3. Network Middleware** ![middleware-flow.png](/img/middleware-flow.png) ### **Overview** Relay Contracts use a modular architecture with five core modules that together manage validator networks, ensuring flexibility and clear separation of concerns. * **Network** integrates Relay Contracts into the Symbiotic ecosystem, providing verifiable delays, standardized lifecycle management, and serving as the network address across the system. * **VotingPowerProvider** connects to Symbiotic Core to calculate operator and vault voting power based on stake and rules. It supports extensible strategies for onboarding, slashing, rewards, and key management. * **KeyRegistry** manages and verifies operators’ cryptographic keys (BLS BN254, ECDSA SECP256K1), supporting registration, verification, and lifecycle management. * **ValSetDriver** derives and maintains validator sets for off-chain components, managing epoch transitions and linking on-chain voting power with off-chain consensus. * **Settlement** commits compressed validator sets each epoch, verifies signatures, and supports multi-chain deployments for cross-chain validation.
### **Deployment tooling** The deployment tooling is in the `@symbioticfi/relay-contracts/script/deploy/` folder. It consists of `RelayDeploy.sol` Foundry script template and `relay-deploy.sh` bash script (Relay smart contracts use external libraries, so it's not currently possible to use solely Foundry script for multi-chain deployment). * `RelayDeploy.sol` - abstract base that wires common Symbiotic Core helpers and exposes the four deployment hooks: KeyRegistry, VotingPowerProvider, Settlement, and ValVetDriver * `relay-deploy.sh` - orchestrates per-contract multi-chain deployments The script deploys Relay modules under [OpenZeppelin's TransparentUpgradeableProxy](https://github.com/OpenZeppelin/openzeppelin-contracts/blob/master/contracts/proxy/transparent/TransparentUpgradeableProxy.sol) using [CreateX](https://github.com/pcaversaccio/createx) (it provides better control for production deployments and more simplified approaches for development). ### **Deployment** 1. Implement your `MyRelayDeploy.sol` Foundry script with the deployment configuration of your Relay modules: * Implement all virtual functions of `RelayDeploy.sol` * In the constructor, take the path of the `toml` file * Use additional helpers such as `getCore()`, `getKeyRegistry()`, `getVotingPowerProvider()`, etc. (see full list in [RelayDeploy.sol](https://github.com/symbioticfi/relay-contracts/blob/main/script/RelayDeploy.sol)) 2. Implement your `my-relay-deploy.toml` configuration file with RPC URLs needed for deployment and specify which modules to deploy on which chains 3. Execute the deployment script, e.g.: ```bash ./lib/relay-contracts-new/script/deploy/relay-deploy.sh ./script/MyRelayDeploy.sol "$DEPLOY_CONFIG_PATH" --broadcast --private-key 0xac0974bec39a17e36ba4a6b4d238ff944bacb478cbed5efcae784d7bf4f2ff80 ``` At the end, your `toml` file will contain the addresses of the deployed Relay modules. ### Middleware contract Networks need a middleware contract that incorporates custom logic and must include slashing logic. The script sets middleware for the network in the following way ([script details](https://github.com/symbioticfi/symbiotic-super-sum/blob/5e7625c8fb16acdd30a7695050f2f7b5c8f44d32/script/MyRelayDeploy.sol#L291)) ```solidity [script/MyRelayDeploy.sol#291] Network(payable(network)) .execute( address(core.networkMiddlewareService), 0, abi.encodeWithSelector(INetworkMiddlewareService.setMiddleware.selector, votingPowerProvider), bytes32(0), bytes32(0) ); ```
## **4. Network Go Live** ![relay-sidecar.png](/img/relay-sidecar.png) The Symbiotic Relay is a peer-to-peer sidecar network that runs alongside main blockchain nodes using a stateless design based entirely on on-chain state. A built-in HTTP API allows querying validator data, tracking epochs, and managing quorum signature aggregation. Symbiotic-super-sum spins up a mini Symbiotic relay network on your laptop: two local blockchains, a contract deployer, and as many operator nodes as you request. Once the contracts are live, a small genesis job hands every relay node the same starting snapshot so they agree on history. Each operator runs a relay sidecar that keeps them chatting over libp2p, watches both blockchains, and exposes a simple API. A matching sum node sits beside each relay, grabs the contract addresses, and handles the actual task submissions or aggregation work. Together, these containers mimic the full relay network ### **Running network** `generate_network.sh` generates Docker configuration. Start the network by running `docker compose --project-directory temp-network up -d`
There are several implementations of relay client - [ts](https://github.com/symbioticfi/relay-client-ts), [rust](https://github.com/symbioticfi/relay-client-rs) and [go](https://github.com/symbioticfi/relay). Here is Go example of integration to sidecar network ([script details](https://github.com/symbioticfi/symbiotic-super-sum/blob/5e7625c8fb16acdd30a7695050f2f7b5c8f44d32/off-chain/cmd/node/main.go#L315)): ```go [off-chain/cmd/node/main.go#315] relayClient = v1.NewSymbioticClient(conn) ... suggestedEpoch := uint64(0) epochInfos, err := relayClient.GetLastAllCommitted(ctx, &v1.GetLastAllCommittedRequest{}) // [!code focus] if err != nil { return err } else { for _, info := range epochInfos.EpochInfos { if suggestedEpoch == 0 || info.GetLastCommittedEpoch() < suggestedEpoch { suggestedEpoch = info.GetLastCommittedEpoch() } } } resp, err := relayClient.SignMessage(ctx, &v1.SignMessageRequest{ // [!code focus] KeyTag: 15, Message: msg, RequiredEpoch: &suggestedEpoch, }) if err != nil { return err } ``` Another example for cosmos-sdk can be found [here](https://github.com/symbioticfi/cosmos-relay-sdk).
# RFQ ## Check ERC-20 allowance `POST /api/v1/check_approval` Reads the wallet's ERC-20 allowance for the Reactor contract and returns an approve() transaction when it is below the requested amount. Call it before submitting an order so the Reactor holds a large enough allowance for the input token. ### Request body (required) (`application/json`) - `walletAddress` `string` _(required)_: Token owner whose Reactor allowance is read — the swapper that will sign the order. - `chainId` `integer` _(required)_: Chain to run the check on. Must match the single chain this deployment is configured for. - `token` `string` _(required)_: ERC-20 the swapper will spend. Its allowance for the Reactor is what gets checked. - `amount` `string` _(required)_: Allowance the wallet needs, in the token's smallest unit. No approval is returned once allowance reaches it. ### Responses #### `200`: Success Body (`application/json`): - `requestId` `string` _(required)_: Freshly generated UUID identifying this API call. - `approval` `object` _(required)_: Transaction to send before ordering, or null when the current allowance already covers `amount`. - `to` `string` _(required)_: Address to send the transaction to — the ERC-20 contract passed in `token`. - `data` `string` _(required)_: Calldata for approve(reactor, 2^256-1), granting the Reactor an unlimited allowance. - `value` `string` _(required)_: Native value to attach to the transaction, in wei. Always "0". - `cancel` `null` _(required)_: Always null. This endpoint never returns an allowance-revocation transaction. #### `400`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. ### Example request ```bash curl https://swap.symbiotic.fi/api/v1/check_approval \ --request POST \ --header 'Content-Type: application/json' \ --data '{ "walletAddress": "string", "chainId": 0, "token": "string", "amount": "string" }' ``` ```ts fetch('https://swap.symbiotic.fi/api/v1/check_approval', { method: 'POST', headers: { 'Content-Type': 'application/json' }, body: JSON.stringify({ walletAddress: 'string', chainId: 0, token: 'string', amount: 'string' }) }) ``` ## Request a quote `POST /api/v1/quote` Fans the swap request out to enabled solvers with eligible adapter inventory and returns a non-empty quotes array, best output first, with ties broken by the faster solver response. Each entry contains solver metadata, a quote, and its EIP-712 signing data. Choose an entry, sign its signatureData, and submit its quote to POST /api/v1/order. Responds 404 "No quotes available" when the amount is below the input token's configured minimum, no solver is eligible, or no solver returns a non-zero quote. ### Request body (required) (`application/json`) - `tokenInChainId` `integer` _(required)_: Chain the input token lives on. Must equal the single chain this deployment serves or the call 400s. - `tokenOutChainId` `integer` _(required)_: Chain of the output token. Must equal tokenInChainId and the deployment's chain. - `tokenIn` `string` _(required)_: Token the swapper is selling. 0x address, case-insensitive and normalized to lowercase. - `tokenOut` `string` _(required)_: Token the swapper wants to receive. Every outputs[].token must repeat this address. - `type` `string` _(required)_: Only "EXACT_INPUT" is supported: amount fixes the input and solvers compete on the output amount. - `amount` `string` _(required)_: Input amount to sell, in tokenIn's smallest unit. Below the token's configured minimum no quote is returned. - `swapper` `string` _(required)_: Address that must sign the order and, unless an output overrides it, receives the output tokens. - `routingPreference` `string`: Only "BEST_PRICE" is accepted and it is the default. It is recorded but does not affect solver selection. - `permitAmount` `string`: Optional, "EXACT" is the only accepted value and it is only stored alongside the quote request. - `solverIds` `string[]`: Restricts the auction to these solver ids (1-50 entries). Omit to fan out to every enabled solver. - `outputs` `object[]` _(required)_: Split of the output across recipients: 1-50 entries whose portionBps sum to at most 10000. - `token` `string` _(required)_: Token this recipient is paid in. Must equal tokenOut or the request is rejected. - `recipient` `string`: Defaults to swapper when omitted for backward compatibility. - `portionBps` `integer`: Fixed share of the output in basis points. Exactly one output must omit it and takes the remainder. ### Responses #### `200`: Success Body (`application/json`): - `requestId` `string` _(required)_: Server-generated UUID for this quote request. It is logged, so quote it when reporting issues. - `routing` `string` _(required)_: Routing mode. Always "Priority". - `quotes` `object[]` _(required)_: Quote options sorted by best price. Permissioned assets return selectable per-solver options. Other assets return one best quote. Sign the selected option's signatureData and submit its quote with the signature to POST /order. - `solver` `object` _(required)_: Solver that produced this quote. - `id` `string` _(required)_: Configured solver ID. Reusable in the request's solverIds. - `name` `string` _(required)_: Human-readable solver name for client display. - `filler` `string` _(required)_: Filler address this solver is registered under, used to check it may fill from an adapter. - `metadata` `object` _(required)_: Solver metadata copied from the deployment manifest. Includes logoUrl when a matching hosted logo is available, and may contain additional keys. - `logoUrl` `string `: Absolute URL of the solver logo for client display. - `quote` `object` _(required)_: Quote to submit unchanged to POST /api/v1/order after signing this entry's signatureData. - `quoteId` `string ` _(required)_: UUID identifying this quote. Send it back to POST /api/v1/order to execute the swap. - `aggregatedOutputs` `object[]` _(required)_: This solver's output totalled across every recipient. - `token` `string` _(required)_: Output token these totals are denominated in. Equals the request's tokenOut. - `amount` `string` _(required)_: Total quoted output across all recipients, in the output token's smallest unit. - `orderInfo` `object` _(required)_: Trade terms covered by this entry's signatureData. Return them unchanged when creating the order. - `tokenIn` `string` _(required)_: Token being sold, echoed from the request. - `amountIn` `string` _(required)_: Input amount being sold, in tokenIn's smallest unit. - `outputs` `object[]` _(required)_: Split of the output across recipients: 1-50 entries whose portionBps sum to at most 10000. - `token` `string` _(required)_: Token paid to this recipient. Equals the request's tokenOut. - `recipient` `string` _(required)_: Address paid this leg. The request's swapper when the request omitted a recipient. - `amount` `string` _(required)_: This recipient's cut of the total quoted output, in the output token's smallest unit. - `portionBps` `integer`: Basis-point share this leg was computed from. Omitted on the one leg that takes the remainder. - `deadline` `integer` _(required)_: UNIX seconds at which the quote expires. Orders submitted at or after it are rejected as expired. - `nonce` `string` _(required)_: Base-10 uint256 string from 0 through 115792089237316195423570985008687907853269984665640564039457584007913129639935. Leading zeroes are accepted. - `signatureData` `object` _(required)_: EIP-712 typed data (primaryType "Request") the swapper signs for this quote. - `domain` `object` _(required)_: EIP-712 domain: the reactor contract and chain the signature is bound to. - `types` `object` _(required)_: EIP-712 type definitions for the signed struct. - `primaryType` `string` _(required)_: Name of the signed struct. Always "Request". - `value` `object` _(required)_: The struct instance to sign. Mirrors this entry's quote.orderInfo. #### `400`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. #### `404`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. ### Example request ```bash curl https://swap.symbiotic.fi/api/v1/quote \ --request POST \ --header 'Content-Type: application/json' \ --data '{ "tokenInChainId": 0, "tokenOutChainId": 0, "tokenIn": "string", "tokenOut": "string", "type": "string", "amount": "string", "swapper": "string", "routingPreference": "BEST_PRICE", "permitAmount": "string", "solverIds": [ "string" ], "outputs": [ { "token": "string", "recipient": "string", "portionBps": 0 } ] }' ``` ```ts fetch('https://swap.symbiotic.fi/api/v1/quote', { method: 'POST', headers: { 'Content-Type': 'application/json' }, body: JSON.stringify({ tokenInChainId: 0, tokenOutChainId: 0, tokenIn: 'string', tokenOut: 'string', type: 'string', amount: 'string', swapper: 'string', routingPreference: 'BEST_PRICE', permitAmount: 'string', solverIds: ['string'], outputs: [ { token: 'string', recipient: 'string', portionBps: 0 } ] }) }) ``` ## Quote liquidity levels `POST /api/v1/liquidity` Runs a full solver auction at every trade size configured for the given input token and returns each solver's offer plus its gap to the oracle price. Use it to plot a depth/price-impact curve before requesting an executable quote. Results are pure price probes, are not persisted, and carry no quoteId, so they cannot back an order. Responds 400 when the token has no configured ladder and 404 when no solver quoted any size. ### Request body (required) (`application/json`) - `tokenIn` `string` _(required)_: Token to sell. Must be an enabled deployment input token that has a configured liquidity ladder. - `solverIds` `string[]`: Restricts the auction to these configured solver ids (1-50). Omit to poll every enabled solver. ### Responses #### `200`: Success Body (`application/json`): - `tokenIn` `string` _(required)_: Token to sell. Must be an enabled deployment input token that has a configured liquidity ladder. - `tokenOut` `string` _(required)_: Output token the whole ladder is priced in, fixed per tokenIn by the deployment manifest. - `tokenInInfo` `object` _(required)_: Deployment metadata for the sold token, enough to format its amounts client-side. - `address` `string` _(required)_: Lowercased ERC-20 address of the sold token. Equals tokenIn. - `symbol` `string` _(required)_: Ticker of the sold token as configured in the deployment manifest. - `name` `string` _(required)_: Display name of the sold token as configured in the deployment manifest. - `decimals` `integer` _(required)_: Decimals used to convert the sold token's smallest-unit amounts into whole units. - `tokenOutInfo` `object` _(required)_: Deployment metadata for the token every amountOut is denominated in. - `address` `string` _(required)_: Lowercased ERC-20 address of the output token. Equals tokenOut. - `symbol` `string` _(required)_: Ticker of the output token as configured in the deployment manifest. - `name` `string` _(required)_: Display name of the output token as configured in the deployment manifest. - `decimals` `integer` _(required)_: Decimals applied to every output amount, reference amount and price-impact amount below. - `levels` `object[]` _(required)_: One entry per configured trade size, deduplicated and ordered from the largest amountIn down. - `amountIn` `string` _(required)_: Trade size probed at this level, in the sold token's smallest unit. - `formattedAmountIn` `string` _(required)_: Same size in whole sold-token units, with trailing fractional zeros stripped. - `referenceAmountOut` `string` _(required)_: Oracle-implied output for this size in the output token's smallest unit, null if tokenIn has no oracle. - `formattedReferenceAmountOut` `string` _(required)_: Oracle-implied output in whole output-token units, null when tokenIn has no configured oracle. - `bestQuote` `object` _(required)_: First entry of solverQuotes: highest amountOut, ties going to the faster solver, null if none quoted. - `solverId` `string` _(required)_: Configured id of the solver behind this level's best quote. - `solverName` `string` _(required)_: Human-readable name of that solver. - `filler` `string` _(required)_: Solver address that won the auction and is expected to execute the order. - `amountOut` `string` _(required)_: Output this solver offered for the level's amountIn, in the output token's smallest unit. - `formattedAmountOut` `string` _(required)_: amountOut rendered in whole units of the output token, for display. - `priceImpactAmountOut` `string` _(required)_: Shortfall against the smallest level's rate, in the output token's smallest unit, null when not computable. - `formattedPriceImpactAmountOut` `string` _(required)_: priceImpactAmountOut in whole units of the output token, null when not computable. - `priceImpactBps` `integer` _(required)_: That shortfall in basis points, null when not computable. - `solverQuotes` `object[]` _(required)_: Offers from each solver that quoted this size, best amountOut first. Quote-only solvers are excluded. - `solverId` `string` _(required)_: Id of the quoting solver, matching the values accepted in the solverIds filter. - `solverName` `string` _(required)_: Human-readable name of the quoting solver from the deployment manifest. - `filler` `string` _(required)_: Lowercased address the solver would settle from. Quotes with an unauthorized filler never reach here. - `amountOut` `string` _(required)_: Output the solver offers for this size, in the output token's smallest unit. - `formattedAmountOut` `string` _(required)_: Same offer in whole output-token units, with trailing fractional zeros stripped. - `priceImpactAmountOut` `string` _(required)_: referenceAmountOut minus amountOut, in the output token's smallest unit, null without an oracle. - `formattedPriceImpactAmountOut` `string` _(required)_: Same shortfall in whole output-token units, negative when the solver beats the oracle price. - `priceImpactBps` `integer` _(required)_: Shortfall versus referenceAmountOut in basis points, truncated, null if that reference is absent or zero. #### `400`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. #### `404`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. ### Example request ```bash curl https://swap.symbiotic.fi/api/v1/liquidity \ --request POST \ --header 'Content-Type: application/json' \ --data '{ "tokenIn": "string", "solverIds": [ "string" ] }' ``` ```ts fetch('https://swap.symbiotic.fi/api/v1/liquidity', { method: 'POST', headers: { 'Content-Type': 'application/json' }, body: JSON.stringify({ tokenIn: 'string', solverIds: ['string'] }) }) ``` ## Publish a discount `POST /api/v1/discount` Publish a signed discount. A signed request with deadline=0 instead cancels (deletes) the discount currently stored for the (adapter, tokenToRedeem) pair. The signer must still produce a valid signature and be authorized for the adapter. Cancellation is backend-only — it stops the discount being served but does not retract the signed object on-chain. ### Request body (required) (`application/json`) - `discount` `object` _(required)_: The discount terms covered by signature. Resubmit with a fresh nonce to replace a live posting. - `adapter` `string` _(required)_: LiquidLaneAdapter the discount applies to. Also the EIP-712 verifying contract of the signature. - `tokenToRedeem` `string` _(required)_: Input token the discount prices when redeemed through the adapter. Must be a configured deployment token. - `discount` `string` _(required)_: Haircut off the adapter's oracle rate in parts-per-million (1000000 = 100%), floored at its minDiscount. - `signer` `string` _(required)_: Address whose key signed the discount. Must be the adapter owner, its market maker, or an address it authorized. - `protocol` `string` _(required)_: Must equal the backend's discount-signer address, which counter-signs the DiscountSwap at redemption. - `nonce` `string` _(required)_: Base-10 uint256 string from 0 through 115792089237316195423570985008687907853269984665640564039457584007913129639935. Leading zeroes are accepted. - `deadline` `integer` _(required)_: Expiry in UNIX seconds. Must clear now plus the protocol's signing window (>= 90s), or be 0 to cancel. - `signature` `string` _(required)_: Signer's EIP-712 signature over the Discount struct. ECDSA, EIP-1271 and ERC-6492 wallets are accepted. ### Responses #### `200`: Success Body (`application/json`): - `requestId` `string ` _(required)_: Server-generated UUID identifying this publish call. - `discountId` `string` _(required)_: EIP-712 hash identifying the stored discount. A cancel returns the id it deleted, when one existed. #### `400`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. ### Example request ```bash curl https://swap.symbiotic.fi/api/v1/discount \ --request POST \ --header 'Content-Type: application/json' \ --data '{ "discount": { "adapter": "string", "tokenToRedeem": "string", "discount": "string", "signer": "string", "protocol": "string", "nonce": "string", "deadline": 0 }, "signature": "string" }' ``` ```ts fetch('https://swap.symbiotic.fi/api/v1/discount', { method: 'POST', headers: { 'Content-Type': 'application/json' }, body: JSON.stringify({ discount: { adapter: 'string', tokenToRedeem: 'string', discount: 'string', signer: 'string', protocol: 'string', nonce: 'string', deadline: 0 }, signature: 'string' }) }) ``` ## Submit an order `POST /api/v1/order` Accepts a quote returned by POST /api/v1/quote together with the swapper's EIP-712 signature over it. The backend re-checks the terms against the stored quote, verifies the signature, re-runs the auction, counter-signs the order with the protocol key and stores it. An unknown quoteId gives 404. An expired quote, or one no solver can still honor, gives 409. Re-posting the same quoteId and signature returns the existing order instead of creating a second one. ### Request body (required) (`application/json`) - `quote` `object` _(required)_: The quote object from the selected quotes[] entry returned by POST /api/v1/quote. Its orderInfo must still match the stored quote. - `quoteId` `string ` _(required)_: Identifier of the quote being accepted. It must still exist server-side and not have expired. - `aggregatedOutputs` `object[]` _(required)_: Total quoted output echoed back from /quote. Accepted but not re-validated against the stored quote. - `token` `string` _(required)_: Output token the swapper asked for in the original quote request. - `amount` `string` _(required)_: Total quoted output amount, in the token's smallest unit. - `orderInfo` `object` _(required)_: Trade terms covered by the swapper's signature: input, output legs, deadline and nonce. - `tokenIn` `string` _(required)_: Token the swapper sells. Compared case-insensitively with the quoted input token. - `amountIn` `string` _(required)_: Exact input amount in the token's smallest unit. Must equal the quoted amount. - `outputs` `object[]` _(required)_: Quoted output legs. Must match the stored quote in count, order, token, recipient and amount. - `token` `string` _(required)_: ERC-20 paid out on this leg, as quoted. - `amount` `string` _(required)_: Quoted amount for this leg, in the token's smallest unit. - `recipient` `string` _(required)_: Address credited with this leg when the order settles. - `deadline` `integer` _(required)_: Order expiry in UNIX seconds. Must equal the quote's expiry, which must still be in the future. - `nonce` `string` _(required)_: Base-10 uint256 string from 0 through 115792089237316195423570985008687907853269984665640564039457584007913129639935. Leading zeroes are accepted. - `signature` `string` _(required)_: Swapper's EIP-712 signature over the selected entry's signatureData. Verified against the quote's swapper. ### Responses #### `200`: Success Body (`application/json`): - `requestId` `string` _(required)_: UUID generated for this call and stored on the order row alongside the order. - `orderId` `string ` _(required)_: UUID of the stored order. Pass it to GET /api/v1/orders to poll progress. - `orderStatus` `string` _(required)_: Status of the stored order — `open` for a new one, or the existing order's status on a repeat submit. #### `400`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. #### `404`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. #### `409`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. ### Example request ```bash curl https://swap.symbiotic.fi/api/v1/order \ --request POST \ --header 'Content-Type: application/json' \ --data '{ "quote": { "quoteId": "00000000-0000-0000-0000-000000000000", "aggregatedOutputs": [ { "token": "string", "amount": "string" } ], "orderInfo": { "tokenIn": "string", "amountIn": "string", "outputs": [ { "token": "string", "amount": "string", "recipient": "string" } ], "deadline": 0, "nonce": "string" } }, "signature": "string" }' ``` ```ts fetch('https://swap.symbiotic.fi/api/v1/order', { method: 'POST', headers: { 'Content-Type': 'application/json' }, body: JSON.stringify({ quote: { quoteId: '00000000-0000-0000-0000-000000000000', aggregatedOutputs: [ { token: 'string', amount: 'string' } ], orderInfo: { tokenIn: 'string', amountIn: 'string', outputs: [ { token: 'string', amount: 'string', recipient: 'string' } ], deadline: 0, nonce: 'string' } }, signature: 'string' }) }) ``` ## List orders `GET /api/v1/orders` Returns stored orders matching the supplied filters, newest first by default, each carrying the amounts the indexer has seen settled for its on-chain order hash. At least one of orderId, orderIds, orderHash, orderHashes, orderStatus, swapper or filler is required, otherwise the request is rejected with 400. ### Query parameters - `limit` `integer`: Maximum orders per page, 1-100. Defaults to 20 when omitted. - `cursor` `string`: Token to pass back as `cursor` for the next page, null when no further orders match. - `orderStatus` `string`: Keep only orders currently in this lifecycle state. - `orderId` `string `: Return just the order with this UUID. - `orderIds` `string`: Comma-separated list of 1-50 order UUIDs to fetch in one call. - `orderHash` `string`: Return the order whose on-chain order hash (32-byte hex) matches this value. - `orderHashes` `string`: Comma-separated list of up to 50 on-chain order hashes to fetch in one call. - `swapper` `string`: Keep only orders signed by this wallet — the usual filter for a user's order history. - `filler` `string`: Keep only orders assigned to this solver, and expose the execution fields on its own open orders. - `sortKey` `string`: Timestamp the page is ordered by: `createdAt` (default) or `updatedAt`. - `sort` `string`: Ordering direction: `desc` (default, newest first) or `asc`. ### Responses #### `200`: Success Body (`application/json`): - `requestId` `string` _(required)_: Freshly generated UUID identifying this API call. - `orders` `object[]` _(required)_: Page of matching orders in the requested sort order, at most `limit` entries. - `type` `string` _(required)_: Routing flavour of the order. Currently always `Priority`. - `orderId` `string ` _(required)_: UUID of the order, as returned by POST /api/v1/order. - `orderStatus` `string` _(required)_: Current state. A background reconciler moves `open` orders to `filled` or `expired`. - `quoteId` `string ` _(required)_: Quote the order was created from, linking it back to the /quote response. - `swapper` `string` _(required)_: Wallet that signed the order and supplies the input tokens. - `txHash` `string` _(required)_: Hash of the transaction that filled the order, null until a fill has been indexed. - `nonce` `string` _(required)_: Base-10 uint256 string from 0 through 115792089237316195423570985008687907853269984665640564039457584007913129639935. Leading zeroes are accepted. - `input` `object` _(required)_: The leg the swapper pays: token sold and amount. - `token` `string` _(required)_: ERC-20 the swapper is selling. - `amount` `string` _(required)_: Input amount, in the token's smallest unit. - `outputs` `object[]` _(required)_: Output legs owed on this order, allocated from the winning solver's output amount at submission. - `token` `string` _(required)_: ERC-20 paid out on this leg. - `recipient` `string` _(required)_: Address to be credited with this leg on settlement. - `amount` `string` _(required)_: Amount owed on this leg, in the token's smallest unit. - `portionBps` `integer`: Share of a total in basis points, an integer 0-10000. - `settledAmounts` `object[]` _(required)_: Payouts the indexer has recorded against this order's hash. Empty until a fill is indexed. - `token` `string` _(required)_: Token actually paid out on-chain. - `amount` `string` _(required)_: Amount actually paid out, in the token's smallest unit. - `recipient` `string` _(required)_: Address that received this payout on-chain. - `txHash` `string` _(required)_: Transaction that produced this payout. - `encodedOrder` `string`: ABI-encoded Order struct for on-chain execution. Only returned to the assigned filler on open orders. - `protocolSignature` `string`: Protocol signer's EIP-712 signature over the Order. Only returned to the assigned filler on open orders. - `deadline` `integer`: Order expiry in UNIX seconds. Only returned to the assigned filler on its open orders. - `filler` `string`: Solver picked to execute the order. Only echoed to that filler on its open orders. - `cursor` `string` _(required)_: Token to pass back as `cursor` for the next page, null when no further orders match. #### `400`: Error Body (`application/json`): - `error` `object` _(required)_: Wrapper object present on every error response. It is the only top-level key in the body. - `code` `string` _(required)_: Machine-readable slug that mirrors the status: badRequest, forbidden, notFound, conflict, internalError. - `message` `string` _(required)_: Human-readable reason, and the only field that distinguishes causes sharing the same code. - `status` `number` _(required)_: HTTP status code, repeated inside the body so the envelope is self-describing. - `timestamp` `string` _(required)_: ISO 8601 UTC instant captured when the error was raised on the server. - `details` `object`: Sent only for request-validation failures: an issues[] of {path, message}, one entry per failed check. ### Example request ```bash curl 'https://swap.symbiotic.fi/api/v1/orders?limit=0&cursor=string&orderStatus=open&orderId=00000000-0000-0000-0000-000000000000&orderIds=string&orderHash=string&orderHashes=string&swapper=string&filler=string&sortKey=createdAt&sort=asc' ``` ```ts fetch('https://swap.symbiotic.fi/api/v1/orders?limit=0&cursor=string&orderStatus=open&orderId=00000000-0000-0000-0000-000000000000&orderIds=string&orderHash=string&orderHashes=string&swapper=string&filler=string&sortKey=createdAt&sort=asc') ``` # System ## GET /api/v1/health `GET /api/v1/health` Returns 200 with status "ok" while running, or 503 with status "draining" once shutdown starts. The probe does not check database, RPC or indexer availability. The HTTP listener closes during shutdown, so new probes may fail to connect. ### Responses #### `200`: Success Body (`application/json`): - `status` `string` _(required)_: "ok" while running, or "draining" once shutdown starts. - `timestamp` `string` _(required)_: Server clock when the probe was answered, as an ISO 8601 UTC string. #### `503`: Error Body (`application/json`): - `status` `string` _(required)_: "ok" while running, or "draining" once shutdown starts. - `timestamp` `string` _(required)_: Server clock when the probe was answered, as an ISO 8601 UTC string. ### Example request ```bash curl https://swap.symbiotic.fi/api/v1/health ``` ```ts fetch('https://swap.symbiotic.fi/api/v1/health') ``` # Capital Efficiency Analysis ## Executive Summary As tokenized real-world assets (RWAs) scale toward institutional adoption, liquidity provision for secondary market trading is a central bottleneck. Issuers offering USD-denominated products face a recurring design question: how should they service redemptions? Three broad approaches exist — maintaining a liquidity buffer, seeding DEX liquidity pools per asset, or more recently: deploying a curator-managed instant liquidity vault through Symbiotic’s infrastructure. This article dives into the design choices comparing capital efficiency differences for an illustrative issuer managing two RWA funds, with a shared \$10M USDC liquidity budget. Instant redemptions from Midas’ mHYPER and mF-ONE were used to model the different scenarios and swap flows. Using scenario analysis grounded in observed redemption data and current DeFi lending yields, the results are stark: an idle buffer (that allocates idle capital to a lending market) can earn up to 6.5%, but reduces the intrinsic APY of the vault strategy or asset. A DEX LP can earn up to 5%, but remains exposed to the risky asset for most of the time and requires double the capital, despite offering weaker liquidity guarantees. Meanwhile, Symbiotic’s instant liquidity product can generate 9%+ without even accounting for additional yield paid by Symbiotic applications on top of it. Note: this analysis only takes into account 2 assets. With a broader set of assets, the yield gap between Symbiotic’s approach and the idle buffer would likely increase substantially. ## The Liquidity Problem in Tokenized RWAs Most tokenized assets — from private credit to alternative strategies — feature episodic or time-locked primary liquidity: structured redemption windows, T+3 to T+90+ settlement cycles, NAV-based queues, or gated redemptions. An investor wishing to exit before a window reopens or a DeFi protocol needing to liquidate have no natural counterpart. This creates a structural demand for secondary liquidity infrastructure — a mechanism that guarantees an exit at or near NAV at any time. The market for tokenized RWAs has reached over \$30b in asset value as of May 2026, but secondary market depth remains thin for most non-treasury assets. Real liquidity, as Bryan Choe from RWA.xyz notes, "comes from exits, either through a clearly defined redemption mechanism or a deep secondary market with willing buyers". For issuers, how that liquidity is capitalized determines not just the user experience, but the annual cost — or return — on tens of millions in reserved USDC. ## Scenario Setup The analysis models an issuer with two USD-denominated RWA funds and \$10M of available capital to build liquidity for those assets. The assets span a range of durations and yields, calibrated using real product data from Midas assets. | Asset | Proxy | Instant Fee | Redemption Window | Intrinsic APY | Observed Instant Redeem % | | ----- | ----------- | ----------- | ----------------- | ------------- | ------------------------- | | RWA-1 | mHYPER-like | 0.50% | T+3 | 8.00% | 22% | | RWA-2 | mF-ONE-like | 1.00% | T+35 | 9.50% | 43% | The proxy data comes from Midas’ frontend and from onchain events emitted by the protocol. ## Approach 1: Idle Liquidity Buffer The simplest approach is a manually managed USDC reserve. The issuer holds \$10M in USDC (or short-duration equivalents) earmarked for redemptions. Bots or staff monitor inflows and manually release funds when requests arrive. **Capital efficiency problem:** An idle buffer can only allocate capital to highly liquid yield sources, e.g., Morpho, and is almost always embedded into the asset itself. This means the capital cannot be shared across multiple assets. It also reduces the intrinsic APY of the strategy, as part of the capital remains structurally underutilized. ![General overview](/img/CA-1.png) The buffer does provide full coverage flexibility — \$5M per asset can, in principle, absorb any single-asset redemption surge. But the capital never works dynamically: it remains limited to highly liquid yield sources and cannot be efficiently shared across assets, reducing overall capital efficiency relative to more productively deployed alternatives. ### **Outcome on \$10M (\$5M per asset):** | Income/Cost Item | Amount | | -------------------------------------------------- | ------------------------ | | Base lending yield (4% on idle capital via Morpho) | +$290,000 | | Redemption spread income | +$361,068 | | **Net annual return** | **+\$651,068 (6.5% APY)** | ![General overview](/img/CA-2.png) ![General overview](/img/CA-3.png) ## Approach 2: DEX Liquidity Pools (RWA ↔ USDC) ![General overview](/img/CA-4.png) An alternative is to seed secondary market DEX pools — one per asset — so that token holders can swap RWA tokens for USDC at any time. The issuer (or a subsidized LP) deposits \$2.5M worth of USDC into each pool, structured as a 50/50 RWA/USDC pair. However, the structural inefficiencies of this model compound quickly and make liquidity guarantees unreliable at scale. ### Siloed Capital Each pool locks dedicated USDC liquidity per asset. If redemption demand concentrates in one fund — for example, mF-ONE following a macro event — only the liquidity available in that specific pool can absorb exits. Liquidity sitting idle in other pools cannot be dynamically redirected, even if unused. In practice, this fragments capital across asset boundaries despite redemption demand being highly unpredictable. ### Continuous Exposure to Underlying Asset Risk The LP remains exposed to the underlying RWA risk at all times. Half of the capital is directly allocated to the RWA itself, meaning LPs bear the underlying credit, duration, and NAV risk of the asset. Yet despite taking that exposure, the total LP return can still underperform simply holding the RWA directly. This occurs because the AMM structure continuously sells appreciating RWA exposure back into USDC as arbitrageurs rebalance the pool. The LP captures swap fees, but systematically gives up part of the asset appreciation. ### Impermanent Loss from NAV Drift RWA tokens are yield-bearing instruments whose NAV increases continuously over time. AMMs mechanically rebalance inventory as prices move, which forces LPs to sell portions of the appreciating asset into stablecoins during NAV appreciation. Our analysis assumes arbitrage opportunities are executed whenever the pool price trades 2% below NAV, while trades stop occurring once slippage exceeds 3%. In practice, this creates a structurally adverse environment for LPs: profitable arbitrage continuously extracts value from the pool during normal NAV appreciation, while stressed redemption periods still fail to guarantee deep liquidity once pool depth deteriorates. ### Liquidity Is Still Not Guaranteed Despite requiring substantial idle capital, DEX liquidity still provides weak guarantees during periods of concentrated exits. Once slippage thresholds are breached, trading activity effectively stops and the pool becomes unusable for meaningful redemptions. In other words, LPs take continuous exposure to the underlying asset while still failing to guarantee reliable liquidity during stress scenarios. ### Opportunity Cost Half of the pool capital remains in USDC rather than fully deployed into the underlying strategy. While this USDC could earn base lending yield on protocols such as Morpho, the return is materially lower than the intrinsic yield of the RWA itself. This creates a direct drag on overall strategy performance. The result is a structurally inefficient system where LPs absorb underlying RWA risk, impermanent loss, fragmented liquidity, and idle capital costs — while still earning a total APY that can underperform simply holding the underlying asset directly. ### **Outcome on \$10M:** | Income/Cost Item | Amount | | --------------------- | ----------------------- | | Swap fee income | +$30,688 | | RWA Intrinsic APY | +$454,917 | | Arbitrage fees | +$30,738 | | **Net annual return** | **$516,343 (5.2% APY)\*\* | ![General overview](/img/CA-5.png) ## Approach 3: Instant Liquidity Vault ![General overview](/img/CA-6.png) Through Symbiotic’s instant liquidity product, curators can launch USDC vaults to service instant redemptions across multiple RWA assets simultaneously. This vault provides a capital facility to acquire RWA tokens at a discount via an on-chain RFQ (Request for Quote) mechanism or via a fixed discount set per asset by the curator. The acquired RWA tokens are then redeemed at NAV with the underlying issuer during the standard redemption window by the curator — and the spread is shared between them and vault LPs. ### How the Vault Works 1. A token holder requests an instant exit (through UI/API or aggregators). 2. Market makers bid, sign an on-chain order, and the vault receives RWA token at a discount when winning the auction (e.g., 0.5%) 3. USDC is drawn by the Symbiotic vault via the Market Maker Symbiotic Contract. 4. USDC settles atomically to the token holder. 5. The curator redeems the RWA with the issuer at NAV from smart contract custody (e.g. at T+3 or T+35 days) earning the spread minus funding cost. 6. Vault LPs receive a share of the spread; idle capital earns base yield via DeFi adapters (e.g. to Morpho). ### Capital Efficiency Advantages **Shared pool, dynamic allocation.** A single \$10M USDC vault covers the two RWA assets. If one asset faces a \$5M redemption surge, the vault deploys up to its limit regardless of which asset is in demand — unlike DEX pools where each silo is capped at \$2.5M USDC. The curator sets per-asset limits, but the base liquidity is shared. **Earning while idle.** The Symbiotic infrastructure routes idle vault capital to DeFi lending adapters (e.g., Morpho) to earn base yield. **Spread income from redemption flows.** The vault receives a share of the instant redemption discount. **No impermanent loss.** The vault operates via a blind RFQ auction, not as an AMM. There is no constant-product curve continuously rebalancing against NAV appreciation. Capital enters as USDC and exits as USDC (with spread captured), eliminating the structural IL drag that plagues DEX LPs. ### **Outcome on \$10M:** | Income/Cost Item | Amount | | ----------------------------------------------------------------- | ------------------------ | | Base lending yield (4% on idle capital via Morpho) | +$311,641 | | Redemption spread income | +$401,292 | | Intrinsic RWA yield while deployed (variable, depending on asset) | +$176,717 | | **Net annual return** | **+$889,651 (8.9% APY)\*\* | ![General overview](/img/CA-7.png) ![General overview](/img/CA-8.png) ## Side-by-Side Comparison | Metric | Idle Buffer | DEX Pools (4×) | Symbiotic Vault | | --------------------------- | ----------------------- | ----------------- | --------------------- | | Available Capital | $10M | $10M | $10M | | Max single-asset coverage | $5M | $2.5M (USDC side) | $10M | | Base lending yield | +$290,000 | 0 | +$311,641 | | Spread / fee income | +$361,068 | +$30,688 | +$401,292 | | Intrinsic yield on deployed | (reduces intrinsic APY) | +$454,917 | +$176,717 | | Other yield sources | No | No | Yes (apps & adapters) | | **Net annual return** | **+$651,068\*\* | **+$516,343** | **+$889,651** | | **Effective APY** | **6.5%** | **5.2%** | **8.9%** | | Per-asset capital siloing | Yes | Yes (4×) | No | | Exposure to Risky Asset | Yes | Yes | Minimal | | Manual ops required | High | Medium | Low | The vault outperforms the idle buffer by **+\$239K/year** and DEX pools by **+\$373K/year** on the same \$10M capital base, while providing stronger liquidity guarantees and maintaining minimal exposure to the risky asset. ## Risk Considerations for the Vault Approach The instant liquidity vault model introduces its own risk profile: * **Duration risk.** If an RWA's NAV declines before native redemption completes (e.g., credit event), the vault bears the shortfall between the USDC advanced and NAV recovered. This risk is priced into the fee structure and managed by curator-set per-asset limits. * **Lending adapter liquidity risk.** Capital deployed in Morpho may face withdrawal friction during utilization spikes, potentially limiting available liquidity for redemptions. * **Duration mismatch.** A vault with a 14-day withdrawal lockup cannot guarantee instant liquidity for vault *depositors* if it has committed capital to a 35-day redemption cycle (e.g., mF-ONE). Curators must actively manage this mismatch. * **Curator concentration.** The model depends on curator-managed parameter-setting and market maker selection. LP exposure to curator quality is material. These risks are manageable — and are partially compensated by the spread income that prices them. They represent the normal tradeoff of a yield-bearing model vs. the zero-risk, zero-return idle buffer. ## The Issuer Perspective For an RWA issuer, the instant liquidity vault also produces structural benefits beyond the LP P\&L: 1. **Reduced issuer overhead.** The vault and curator handle redemption logistics. The issuer doesn’t need to maintain idle capital or directly manage the redemption facility. 2. **Competitive product differentiation.** Offering credible instant redemption is a meaningful distribution advantage. Institutional and semi-institutional investors increasingly require it. 3. **Scalable across products.** A single vault can be authorized to service multiple issuer products simultaneously, with the curator managing per-asset risk parameters — eliminating the need to build separate liquidity infrastructure per fund. ## Conclusion The three approaches reflect three fundamentally different relationships between idle capital and productive yield. The idle buffer treats liquidity as a pure cost center. The DEX approach attempts to generate yield through AMM fees but fails on structural grounds — the economics of AMM LP provision simply do not work for low-volume, yield-bearing, permissioned RWA tokens. The instant liquidity vault turns the same \$10M reserve into a productive, multi-asset, dynamically allocated machine: earning base lending yield on idle capital, capturing redemption spreads when deployed, and accruing intrinsic asset yield during the redemption window. For any issuer managing a portfolio of USD-denominated tokenized funds with meaningful redemption demand, the instant liquidity vault is the dominant capital allocation.