Vesu Protocol Architecture
The Vesu V2 protocol is built with a focus on simplicity and security. It consists of a few building blocks that aim at maximally isolate user funds, reduce the attack surface increase the overall confidence in the codebase. The architecture of the Vesu V2 protocol and its building blocks is outlined in the figure below.
Lending Pool
Lending pools are isolated in a separate instance of the Pool contract. This contract manages all state, user funds and interactions related to that specific pool. This way, in Vesu V2 user funds are isolated by design in separate Pool instances.
At the same time, the concept of lending pairs and positions remains exactly the same as in the Vesu V1 protocol. Thus, Vesu V2 pools remain as flexible as it gets when it comes to the configuration of different loan structures within a pool. Similarly, pool curators keep the granular level of control over risk exposures and parameters as known from Vesu V1.
Oracle
An official Factory Oracle exists and is free to be used by all pools and curators. However, curators are free to use custom oracles too.
The Pool computes the solvency of positions based on collateral and debt asset prices. It fetches these asset prices from an external, fully trusted, Oracle. A Factory Oracle exists and maintains price feeds for all major assets. This Factory Oracle uses Pragma price feeds and implements additional price validations which the Pool consumes to decide whether to trust a price or not. In case the Pool receives an untrusted price, it pauses all asset withdrawals.
vToken
The PoolFactory deploys a vToken for each asset in a new pool. The vToken offers lenders a simplified UX for depositing funds into a pool and issues a share token in return. vTokens are stand-alone, ERC-4626 compatible vaults and work in isolation of the pool itself.
Pool Factory
The PoolFactory allows curators to create new Pool instances through a simple interface, create_pool. Upon pool creation, the PoolFactory deploys a new Pool contract, initializes it with the provided asset and pair parameters and deploys the respective vTokens. Pool creation and curation remains a permissionless activity continuing Vesu's legacy of empowering fully open, global and secure lending markets on Starknet.
Pauser Agent
A highlight introduced with the Vesu V2 protocol is the ability for curators to opt-in to having a lending pool being monitored by Hypernative's real-time threat detection and onchain actions infrastructure. This enables the respective pool's to be continuously monitored and temporarily paused in case of a potential threat, thereby serving as a crucial layer of protection for users and the Starknet ecosystem.
Upgradeability
For security purposes, the Pool and Oracle contracts are upgradeable with the permission to upgrade owned by the Vesu Security Council. This council is explained in more details in the Security docs.