Smart Contract Architecture

Fount is designed as a modular, composable system of smart contracts that conform to well-established EVM standards, ensuring extensibility, security, and developer-friendliness.

Key Architecture Principles

• ERC-4626 Vault Standard: Used to implement tokenized yield-bearing vaults with deposit/withdraw logic.

• Minimal Proxy Pattern (EIP-1167): Enables gas-efficient cloning of strategy templates.

• Role-Based Access Control (RBAC): Grants fine-grained permissions to different actors across the protocol.

• Hook-Based Extensibility: Compliance and control logic is modular via configurable hooks.

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Contract Components

Registry

• Central deployment and registration hub.

• Maintains mappings of valid strategies, tokens, assets, and hooks.

Strategies

• Logic for deploying capital into off-chain or on-chain opportunities.

• Types include BasicStrategy, ReportedStrategy, and GatedMintRWAStrategy.

• Each strategy is linked to its own tokenized vault.

tRWA Tokens

• ERC-4626-compatible vaults.

• Represent user shares in the underlying strategy.

• Types include:

  • tRWA: Standard implementation with compliance hooks.

  • GatedMintRWA: Supports two-phase deposits and escrow mechanics.

Role Manager

• Manages hierarchical access control using bitflag role identifiers.

• Enables protocol security and delegation.

Hook & Rules Engine

• Compliance hooks (e.g. KYC) intercept user operations.

• Hooks can be dynamically added/removed per operation (deposit, transfer, withdraw).

Reporters

• External oracles that provide NAV or price data.

• E.g., PriceOracleReporter to report off-chain asset values.

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🛠️ Common Standards Used

Standard	Purpose
ERC-4626	Vault logic and share accounting
EIP-1167	Gas-efficient proxy deployment
Custom RBAC	Role-based permissions across all contracts

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Core Roles

Role Name	Bitflag	Description
PROTOCOL_ADMIN	1	Can configure global protocol settings
STRATEGY_ADMIN	2	Manages strategies and registry entries
RULES_ADMIN	4	Controls hook permissions and rules engine
STRATEGY_OPERATOR	8	Executes fund operations within strategies
KYC_OPERATOR	16	Manages KYC allow/deny lists
PRICE_UPDATER	32	Updates external pricing oracles

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Lifecycle Flow (Simplified)

1. Strategy Deployment

   • Registry clones strategy using proxy pattern.

   • Strategy initializes and links to newly deployed vault token.

2. User Deposit

   • User deposits USDC or BTC (wrapped) into tRWA token.

   • Hooks validate the deposit.

   • Shares are minted to the user.

3. Strategy Execution

   • Strategy manager moves funds to yield sources.

4. Redemption

   • Users withdraw assets by redeeming tRWA tokens.

   • Yield and NAV reflected in token share value.