Smart Contracts Overview

Core Protocol Contracts

PermalockVault.sol

Purpose: Main vault managing veAERO NFTs and deposits

Key Functions:

  • deposit(): Deposit AERO tokens

  • depositVeNFT(): Deposit existing veNFTs

  • executeNFTAction(): Execute actions on managed NFTs

  • performMaintenance(): Rebase and merge NFTs

Permissions:

  • Owner: Protocol Multi-sig

  • Authorized: Voting manager, rewards collector

  • Keeper: Maintenance operations

iAEROToken.sol

Purpose: Liquid receipt token for deposited AERO

Features:

  • ERC20 + Permit

  • Minting restricted to vault

  • 1:1 backing (minus fees)

  • Transferable and tradeable

LIQToken.sol

Purpose: Governance and incentive token

Features:

  • 100M max supply

  • Minting restricted to vault

  • Burnable by holders

  • ERC20 + Permit

Contract Interactions

graph TD User[User] Vault[PermalockVault] iAERO[iAERO Token] LIQ[LIQ Token] SD[StakingDistributor] LSD[LIQ StakingDistributor] RH[RewardsHarvester] TD[TreasuryDistributor] VM[VotingManager] Treasury[Treasury]

User -->|Deposit AERO| Vault
Vault -->|Mint| iAERO
Vault -->|Mint| LIQ
User -->|Stake iAERO| SD
User -->|Stake LIQ| LSD
RH -->|80%| SD
RH -->|10%| TD
TD -->|80% of 10%| LSD
TD -->|20% of 10%| Treasury
VM -->|Execute Votes| Vault
Vault -->|Vote| Aerodrome

Reward Distribution

StakingDistributor.sol

Purpose: Distribute rewards to iAERO stakers

Mechanism:

  • Accumulator-based rewards

  • Multi-token support (ERC20 + ETH)

  • No lockup required

  • Pro-rata distribution

RewardsHarvester.sol

Purpose: Claim and distribute Aerodrome rewards

Distribution:

  • 80% → iAERO stakers

  • 10% → TreasuryDistributor (splits 80/20)

  • 10% → Peg defense reserve

TreasuryDistributor.sol

Purpose: Split treasury's share between LIQ stakers and operations

Split (of the 10% it receives):

  • 80% → LIQ stakers (8% of total)

  • 20% → Treasury operations (2% of total)

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