Core Contracts

As a way to interface both DeFi and TradFi world, Ledgity Yield employs a set of 4 core smart contracts powering the on-chain features of the protocol.

Other peripheral contracts are created around core contracts but won't be detailed here, as the purpose of this page is to provide understanding about the protocol's core functioning.

LToken

This is the main contract of the Ledgity Yield protocol as it powers every L-Tokens (e.g., LUSDC).

It acts as a bridge between DeFi and TradFi worlds by allowing wallets to deposit stablecoins and Ledgity team to manage those stablecoins in a straightforward and secure manner.

It's core features include:

• managing users deposits

• processing users withdrawal requests

• allowing team to securely repatriate stablecoins on-chain

• ensuring that max. 5% of funds are kept on the contract (attack surface reduction)

• distributing yield in a yield-bearing manner

The source code of the LToken contract can be browsed here.

GlobalOwner

This contract holds the addresses of the Ledgity Yield protocol's owner (multisig), shared by all contracts of the ecosystem.

It also provides a 2-step method for migrating ownership, thus avoiding any bad operations in case the ownsership needed to be migrated to another wallet some day.

The source code of the GlobalOwner contract can be browsed here.

GlobalPause

This contract holds a global pause state for the entire Ledgity Yield ecosystem. This is very practical, because if a potentially dangerous situation for the protocol is detected, the whole protocol's ecosystem can be paused by a single on-chain transaction.

This enables the Ledgity team to react quickly to emergency situations.

The source code of the GlobalPause contract can be browsed here.

GlobalBlacklist

This contracts maintains a global registry of blacklisted wallets. This is notably used for AML enforcement but also as general way to recover funds originating from malicious operations (e.g., other protocol hacks).

The funds of malicious wallet can be frozen across the entire Ledgity Yield ecosystem in a single on-chain transaction.

This again enables the Ledgity team to react quickly to emergency situations.

The source code of the GlobalBlacklist contract can be browsed here.