Context

Amphor protocol is a L1 DeFi protocol proposing ERC-4626 based strategies. The first startegy to come out is a timelocked strategy that require the funds to exit the vault during the product duration (which varies from 2 to 6 weeks).

AmphorSyntheticVault

This vault is the most basic strategy on the code side because the funds are deposited by the users, then the vault is locked during the product period. Once it has been locked, the funds go to a market maker wallet that is keeping the assets in garantee.
At the end of the period (which varies from 1 to 5 weeks), Amphor get back the funds into the vault and users can deposit and/or withdraw again.

Underlying supported

For the first iteration of the protocol, the only underlying supported will be USDC from Circle. In the future, we might support WBTC and WETH as underlying assets. Since USDC token supports Permit operations but not WBTC and WETH, we have separated this feature into another contract (AmphorSyntheticVaultWithPermit).

Process flow on the vault manager side

NOTE: Management of the vault is handled by a multisig wallet.

1. The vault contract is deployed (constructor) and some funds are directly deposited into it in order to bootstrap it and prevent as much as possible from inflation attacks (event if there are others protections from it). A performance fee of 20.00% for Amphor protocol is set.
2. The vault is open for deposit and withdraw during a little period (approx 2 days).
3. The vault is locked (deposit/withdraw shouldn't be possible) with the start function (callable only by owner/manager of the vault). During this transaction the funds are withdrawn from the contract.
4. After the product period end, the vault is unlocked (deposit/withdraw are now be possible) using the end function (callable only by the owner of the vault). In case of a positive performance, some fees are taken fees by the protocol (that cannot exceed 30.00% and can only be changed by owner of the vault).

Main contracts

Protocol contracts files

• AmphorSyntheticVault.sol: Vanilla AmphorSyntheticVault.
• AmphorSyntheticVaultWithPermit.sol: AmphorSyntheticVault with Permit feature.

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Deployment contracts files

• L1_USDC_DeployAmphorSyntheticVault.sol: Deployment script for AmphorSyntheticVaultWithPermit with USDC as underlying. Should bootstrap the vault with 100 USDC (based on the env file). Should set the perf fees to 20.00%.
• L1_WBTC_DeployAmphorSyntheticVault.sol: Deployment script for AmphorSyntheticVault with WBTC as underlying. Should bootstrap the vault with 0.01 WBTC (based on the env file). Should set the perf fees to 20.00%.
• L1_WETH_DeployAmphorSyntheticVault.sol: Deployment script for AmphorSyntheticVault with WETH as underlying. Should bootstrap the vault with 0.1 WETH (based on the env file). Should set the perf fees to 20.00%.

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Test contracts files

• a16zCompliance.t.sol: Implements the tests of a16z. Unfortunaly we didn't manage to make them work.
• cryticCompliance.t.sol: Implements the tests of crytic (from Trail of a bits). These one pass, you can launch them with the following command:

$ echidna . --contract CryticERC4626PropertyTestsSynth --config test/echidna.config.yaml

• SyntheticBase.t.sol: Should define a part of the main state variables. Should define some functions that will be directly used into the actual tests.
• SyntheticBasic.t.sol: Should implement some basics tests that test the vault state variables and some basic properties of the vault.
• SyntheticDepositAndWithdraw.t.sol: Should implement some tests on the deposit and the withdraw function.
• SyntheticEndAndStart.t.sol: Should implement some tests on the start and the end function.
• SyntheticInflation.t.sol: Should implement some tests demonstrating vault resilience in the face of inflationary attacks.
• SyntheticPausable.t.sol: Should implement some tests demonstrating the good working of the Pausable feature.
• SyntheticPermit.t.sol: Should implement some tests demonstrating the good working of the Permit feature.
• SigUtils.sol: Should implement utils functions used by SyntheticPermit contract test (SyntheticPermit.t.sol).

Useful commands

Foundry

The protocol is a Foundry project. Foundry a blazing fast, portable and modular toolkit for Ethereum application development written in Rust.

Foundry commands

Build

$ forge build

Test

$ forge test

Format

$ forge fmt

Coverage

$ forge coverage

Gas Snapshots

$ forge snapshot

Anvil

$ anvil

Deploy

$ forge script script/Counter.s.sol:CounterScript --rpc-url <your_rpc_url> --private-key <your_private_key>

Cast

$ cast <subcommand>

Help

$ forge --help
$ anvil --help
$ cast --help

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