Yakisoba vaults are an alternative breed of ERC4626 vaults, which allow instant redemptions of illiquid assets. These smart contracts were developed during my time at Astrolab.fi, which focused on cross-chain yield aggregation. Since the project decided to move on to a different architecture, I’m open-sourcing them.
The contracts in their current form have been audited by Hexens. You can find the audit here.
Key features 🍜
Instant redemptions
Traditional cross-chain liquidity solutions often suffer from high costs and delays. Yakisoba addresses this by introducing a liquidity buffer, similar to Curve’s stableswap. This buffer holds both the underlying asset and its virtual equivalent, allowing users to redeem instantly without waiting for cross-chain confirmations. If the buffer depletes, the protocol can rebalance and adjust accordingly.
MEV protection
Cross-chain protocols can be vulnerable to arbitrage opportunities and Miner Extractable Value (MEV) exploits. Yakisoba mitigates these risks by linearizing profits over a set period (e.g., one week), removing completely the potential for share update sandwiching and ensuring a more stable profit distribution.
Cross-chain farming
Yakisoba supports cross-chain yield farming, to source the best available yields. The architecture is modular, utilizing BridgeConnectorHome and BridgeConnectorRemote to manage bridging and messaging securely without tying the protocol to a specific bridge.
Flexible capital allocation
Allocation by chain happens through a keeper at the vault level, while allocation by strategy is handled by the Allocator contract, which works seamlessly across both home and remote chains.
Strategies
The Strategy component interfaces with various yield farming protocols, handling deposits, compounding, and withdrawals. It’s designed to be adaptable, accommodating protocols with different locking mechanisms to maximize yield opportunities.