RocketPoolStrategy

Git Source

Inherits: BaseYieldSkimmingStrategy

Title: RocketPoolStrategy

Author: Golem Foundation

Yield skimming strategy for RocketPool rETH

Captures yield from rETH appreciation by tracking rETH/ETH exchange rate ROCKETPOOL MECHANISM:

• rETH represents staked ETH in RocketPool protocol
• Exchange rate: rETH → ETH increases as staking rewards accrue
• Rate starts at ~1.0 and increases over time
• Different from Lido: non-rebasing, rate appreciation only YIELD CAPTURE:
• User deposits 100 rETH at rate 1.0
• Rate increases to 1.05 (5% staking rewards)
• Vault value: 105 ETH
• Profit: Strategy shares worth 5 ETH value minted to dragon router EXCHANGE RATE SOURCE:
• Calls RocketPool.getExchangeRate()
• Based on RocketPool's accounting
• Cannot be manipulated
• 18 decimal precision

Notes:

• security-contact: [email protected]

• security: Exchange rate from RocketPool (trusted source)

• security: Slashing risk: Validators can be slashed, affecting rate

Functions

constructor

constructor(
    address _asset,
    string memory _name,
    string memory _symbol,
    address _management,
    address _keeper,
    address _emergencyAdmin,
    address _donationAddress,
    bool _enableBurning,
    address _tokenizedStrategyAddress
)
    BaseYieldSkimmingStrategy(
        _asset, // shares address
        _name,
        _symbol,
        _management,
        _keeper,
        _emergencyAdmin,
        _donationAddress,
        _enableBurning,
        _tokenizedStrategyAddress
    );

Parameters

Name	Type	Description
_asset	address	Address of the underlying asset
_name	string	Strategy name
_symbol	string	Strategy symbol
_management	address	Address with management role
_keeper	address	Address with keeper role
_emergencyAdmin	address	Address with emergency admin role
_donationAddress	address	Address that receives donated/minted yield
_enableBurning	bool	Whether loss-protection burning from donation address is enabled
_tokenizedStrategyAddress	address	Address of TokenizedStrategy implementation

decimalsOfExchangeRate

Returns exchange rate precision (18 decimals)

RocketPool uses 18 decimal precision for exchange rate

function decimalsOfExchangeRate() public pure override returns (uint256);

Returns

Name	Type	Description
<none>	uint256	decimals Always returns 18

_getCurrentExchangeRate

Returns current rETH → ETH exchange rate

Queries RocketPool protocol for current rate Rate increases as staking rewards accrue

Note: security: Rate from RocketPool protocol (manipulation-resistant)

function _getCurrentExchangeRate() internal view override returns (uint256);

Returns

Name	Type	Description
<none>	uint256	rate Amount of ETH per 1 rETH (18 decimal precision)