BVS Vault CW20

The BVS Vault CW20 is a specialized vault contract designed to support CW20 tokens as the underlying asset in the SatLayer ecosystem. It enables operators to manage deposits and withdrawals of CW20 tokens, providing a standardized interface for token management.

The Vault CW20 implements the ERC-4626 tokenized vault standard, providing a standardized interface for yield-bearing vaults. It manages the relationship between deposited CW20 tokens and shares, allowing for efficient tracking of user deposits and their corresponding value.

• CW20 Token Support: Handles CW20 tokens as the underlying asset
• Share-Based Accounting: Uses a share system to track user deposits and their value

Contract Functions

Execute Functions

• DepositFor: Deposit CW20 tokens into the vault for a recipient
• WithdrawTo: Withdraw CW20 tokens from the vault to a recipient
• QueueWithdrawalTo: Queue a withdrawal request for later processing
• RedeemWithdrawalTo: Process a queued withdrawal request

Query Functions

• Shares: Get the number of shares owned by a staker
• Assets: Get the asset value of shares owned by a staker
• ConvertToAssets: Convert a share amount to its asset value
• ConvertToShares: Convert an asset amount to its share value
• TotalShares: Get the total number of shares in the vault
• TotalAssets: Get the total asset value in the vault
• QueuedWithdrawal: Get information about a queued withdrawal
• VaultInfo: Get general information about the vault

Deposit and Withdrawal Process

The Vault CW20 manages deposits and withdrawals through a share-based system:

1. When users deposit CW20 tokens, they receive shares proportional to their deposit value
2. The share price (exchange rate) is determined by the total assets and total shares in the vault
3. When users withdraw, their shares are converted back to CW20 tokens based on the current exchange rate
4. If the operator is not actively validating, withdrawals are queued for later processing

The vault implements a withdrawal queue to handle situations where immediate withdrawals are not possible:

1. Users request a withdrawal via QueueWithdrawalTo
2. The request is stored with a timestamp and the current exchange rate
3. After the lock period expires, users can redeem their withdrawal via RedeemWithdrawalTo
4. The withdrawal is processed using the exchange rate from when it was queued