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      • 1. Core Components
      • ♾️1.1 Fixed-Rate Order Book (FROB)
      • ♾️1.2 Limit Orders
      • 2. Accounting System
      • ♾️2.1 Deposit Tokens & Global Trackers
      • ♾️2.2 Loans
      • ♾️2.3 Fees
      • 3. Mechanisms
      • ♾️3.1 Deposit & Withdraw
      • ♾️3.2 Limit Orders / Offers
      • ♾️3.3 Market Orders
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  • 2.1 Deposit tokens
  • 2.2 Global Trackers
  1. How It Works
  2. Technical Docs

2.1 Deposit Tokens & Global Trackers

2.1 Deposit tokens

In order to address donation and reentrancy attacks, the following measures were adopted:

  • No withdraws of native ether, only wrapped ether (WETH)

  • Underlying borrow and collateral tokens (USDC and WETH) are converted 1:1 into ERC-20 deposit tokens via deposit, which mints szaUSDC and szWETH, and received back via withdraw, which burns deposit tokens 1:1 in exchange for the underlying tokens.

Deposit tokens are non-transferable.

2.1.1 aszUSDC

Rebasing token (based on Aave's aUSDC) that tracks the USDC in the system.

2.1.1 szWETH

Standard (non-rebasing) token that tracks (W)ETH in the system for a specific user.

2.2 Global Trackers

Debt tokens are non-transferable.

2.2.1 szDebt

Borrower total outstanding debt tracker.

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Last updated 11 months ago

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