Developers

Technical architecture and smart contract details for leveraged vaults.

Leveraged Vaults are built on the ERC-4626 tokenized vault standard with a modular architecture that enables automated looping, risk management, and withdrawals.

The system minimizes custom logic by composing audited protocol components with Superlend-specific automation.

---

Architecture Overview

Leveraged Vaults integrate the following modules:

• Flash Loans – atomic looping and unlooping execution

• Universal DEX Module – token swaps during looping and withdrawals

• Withdraw Manager – queued and scheduled withdrawals

• Accountant Module – NAV calculation and fee accounting

• Rebalancing Engine – maintains healthy leverage and target parameters

All components are orchestrated by the vault contract and executed onchain.

---

Core Components

• SuperloopVault ERC-4626 vault implementation with supply caps and performance fees.

• SuperloopActions Executes modular strategy actions during loop, unloop, and rebalance operations.

• SuperloopBase Handles roles, permissions, and administrative controls.

• Aave V3 Modules Supply, Borrow, Withdraw, Repay, and E-Mode integrations.

• Flashloan Module Uses Aave V3 flash loans with callback handling.

• Universal DEX Module Executes swaps internally or via external liquidity sources.

• AccountantAaveV3 Calculates total assets, profits, and performance fees.

• WithdrawManager Queues and resolves scheduled withdrawals.

• VaultRouter Enables token-agnostic deposits by swapping into the vault’s base asset.

---

Deployment & Initialization

Leveraged Vaults are deployed behind a TransparentUpgradeableProxy and initialized using DataTypes.VaultInitData.

Initialization includes:

• Base asset, name, and symbol

• Supply cap

• Module registry and strategy modules

• Accountant and withdraw manager modules

• Admin addresses (vault admin, treasury)

After initialization:

• Modules and callback handlers are registered

• Accountant and withdraw manager are set via admin functions

---

Roles & Permissions

• Vault Admin Can update supply caps, module registry, parameters, and treasury.

• Privileged Addresses Allowed to transfer shares under guarded conditions.

• Modules Restricted to execution within a valid vault execution context.

• WithdrawManager Callable only by the vault during withdrawal resolution.

---

Module Execution Flow

Strategy execution uses Superloop.operate(DataTypes.ModuleExecutionData[]):

1. Start execution context

2. Execute each module action (CALL / DELEGATECALL)

3. End execution context

operateSelf is used for internal calls during execution (e.g. flash loan callbacks).

---

Flash Loan Flow

1. Flash loan triggered via flashLoanSimple

2. Callback routed to a registered handler using (msg.sender, msg.sig)

3. Handler processes approvals, repayments, and optional re-entry into operateSelf

This enables atomic looping and deleveraging.

---

Withdrawals

• Instant Withdrawals Uses instantWithdrawModule (if available) to redeem shares directly.

• Scheduled Withdrawals Requests are queued in WithdrawManager. The vault unwinds leveraged positions and resolves liquidity before users claim.

---

VaultRouter (Token-Agnostic Deposits)

• If tokenIn == vault.asset() → direct deposit

• Otherwise:

  1. Swap via Universal DEX Module

  2. Approve resulting base asset

  3. Deposit into the vault

---

Integration Patterns

Common strategy flows include:

• Initial Looping Flash loan → supply → borrow → swap → repay

• Leverage Adjustment Repay / withdraw / swap via flash loan to reach target exposure

• Queued Withdrawals Approve → request → vault unloops → user claims