# Zenji (ZenSats) - DeFi Carry Trade Vaults
# https://zensats.app
# llms.txt -machine-readable documentation for AI agents
# Standard: https://llmstxt.org
# Last updated: 2026-04-04

## What is Zenji?

Zenji is a set of ERC-4626 yield vaults on Ethereum mainnet. Each vault accepts a single collateral asset (WBTC, wstETH, or XAUT), borrows stablecoins against it, and deploys that capital into yield strategies. Depositors earn the spread between the borrowing cost and the yield -an automated carry trade.

All vaults are fully ERC-4626 compliant. Any tooling that supports ERC-4626 (deposit, withdraw, redeem, mint) works with Zenji vaults.

## Quick Start for AI Agents

If you are an AI agent looking to deposit into Zenji vaults, start here:

1. Call GET https://zensats.app/api/agent/vaults to get all active vaults with live TVL, APR, share prices, contract addresses, and step-by-step deposit instructions.
2. The response includes `howToDeposit` for each vault with the exact contract calls needed.
3. The response includes `onChainViewFunctions` listing every view function you can call directly on the smart contracts.

That single endpoint gives you everything you need to evaluate and execute a deposit.

## Network

Chain: Ethereum Mainnet (chainId: 1)

## Active Vaults

### 1. WBTC Vault (wbtc-pmusd)
- Vault address: 0x617A6877f0a55D1eF2B64b5861A2bB5Fe6FEB739
- Deposit asset: WBTC (0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599, 8 decimals)
- Strategy: Borrow USDT on Aave V3 -> swap to crvUSD via Curve -> LP in RAAC crvUSD/pmUSD pool -> stake in StakeDAO
- Strategy address: 0x73B753F63175F003881Dc39710d40c8E2F027FD8
- Share token decimals: 8 (same as underlying)
- ViewHelper: 0x0aDC622F11D8fA2F3E4709D037e95010a651471A
- LoanManager: 0x25a1b8262f9644F00Fc80F11eF8cc2Ea1b74BDE3

### 2. wstETH Vault (wsteth-pmusd)
- Vault address: 0xbaEc8343B610A5ee7Ca2c5b93507AC7def98E2B1
- Deposit asset: wstETH (0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0, 18 decimals)
- Strategy: Borrow USDT on Aave V3 against wstETH -> swap to crvUSD via Curve -> LP in RAAC crvUSD/pmUSD pool -> stake in StakeDAO
- Strategy address: 0x48c166Ad4E0fa3B344fb7efb93Fdee4bf7d9e861
- Share token decimals: 18 (same as underlying)
- ViewHelper: 0xc99e21f05722230E7B5A26f9De1Db415080c872E
- LoanManager: 0x10a0Cec186B5B5365E9D8b671cE423b4eCbDeeCc

### 3. XAUT Vault (xaut-pmusd)
- Vault address: 0x7d5281D590Fb0647aDc7d8494a2c8Fb8C2B23cBD
- Deposit asset: XAUT (0x68749665FF8D2d112Fa859AA293F07A622782F38, 6 decimals)
- Strategy: Borrow USDT on Aave V3 against Tether Gold -> swap to crvUSD via Curve -> LP in RAAC crvUSD/pmUSD pool -> stake in StakeDAO
- Strategy address: 0xE2B44aE759446eF4C0151A2669122b4794Aee7C0
- Share token decimals: 6 (same as underlying)
- ViewHelper: 0x40c2D606Ce9E060Bef7374951BaE4Ca6906517BD
- LoanManager: 0x55aE1060c67eB78E6f655dfcDE4386bbB063bEB5

## Agent API Endpoint

GET https://zensats.app/api/agent/vaults

Returns a JSON object with all active vaults, their current state, and deposit/withdraw instructions. This is the recommended starting point for any AI agent.

Response structure:
```json
{
  "protocol": "Zenji (ZenSats)",
  "description": "...",
  "network": "Ethereum Mainnet (chainId: 1)",
  "timestamp": "2026-04-04T12:00:00.000Z",
  "vaults": [
    {
      "slug": "wbtc-pmusd",
      "vaultAddress": "0x...",
      "viewHelperAddress": "0x...",
      "loanManagerAddress": "0x...",
      "oracleAddress": "0x...",
      "chainId": 1,
      "depositAsset": { "symbol": "WBTC", "address": "0x...", "decimals": 8 },
      "strategy": "Borrow USDT on Aave V3 -> ...",
      "standard": "ERC-4626",
      "state": {
        "totalAssets": "raw uint256",
        "totalAssetsFormatted": "human readable",
        "totalSupply": "raw uint256",
        "pricePerShare": "raw uint256",
        "pricePerShareFormatted": "human readable",
        "tvlUsd": 12345.67,
        "assetPriceUsd": 84000.50,
        "currentLtvPct": 70.5,
        "apr24hBps": "500",
        "apr7dBps": "480",
        "snapshotTimestamp": 1712188800
      },
      "howToDeposit": {
        "step1_approve": "Call approve(vaultAddress, amount) on ...",
        "step2_deposit": "Call deposit(amount, receiverAddress) on ...",
        "preview": "Call previewDeposit(amount) on ..."
      },
      "howToWithdraw": {
        "redeem": "Call redeem(shares, receiver, owner) on ...",
        "withdraw": "Call withdraw(assets, receiver, owner) on ...",
        "checkMax": "Call maxRedeem(owner) or maxWithdraw(owner) on ..."
      },
      "onChainViewFunctions": {
        "vault": ["totalAssets() -> uint256", "..."],
        "viewHelper": ["getHealth(address vault) -> int256", "..."],
        "loanManager": ["getCurrentLTV() -> uint256", "..."]
      }
    }
  ]
}
```

APR values are in basis points (100 bps = 1%). A value of "500" means 5% APR.

## How to Deposit (step by step)

Prerequisites: The caller must hold the vault's deposit asset (WBTC, wstETH, or XAUT) on Ethereum mainnet.

Step 1 -Check if deposits are open:
  Call maxDeposit(address) on the vault. Pass any address. If it returns 0, deposits are paused.

Step 2 -Approve the vault to spend your tokens:
  Call approve(vaultAddress, amount) on the deposit asset's ERC-20 contract.
  The amount must be in the asset's native decimals (8 for WBTC, 18 for wstETH, 6 for XAUT).

Step 3 -Deposit:
  Call deposit(uint256 assets, address receiver) on the vault contract.
  - assets: amount of the deposit asset (in native decimals)
  - receiver: address that will receive the vault share tokens
  Returns: uint256 sharesMinted

Alternative -Mint exact shares:
  Call mint(uint256 shares, address receiver) on the vault contract.
  Returns: uint256 assetsUsed

To preview how many shares you'll get:
  Call previewDeposit(uint256 assets) -> uint256 shares

## How to Withdraw (step by step)

Option A -Redeem by share amount (recommended):
  Call redeem(uint256 shares, address receiver, address owner) on the vault.
  - shares: number of vault shares to burn
  - receiver: address that receives the collateral
  - owner: address whose shares are burned (must be caller or have allowance)
  Returns: uint256 assetsReturned

Option B -Withdraw by asset amount:
  Call withdraw(uint256 assets, address receiver, address owner) on the vault.
  - assets: amount of collateral to withdraw (in native decimals)
  - receiver: address that receives the collateral
  - owner: address whose shares are burned
  Returns: uint256 sharesBurned

To check max withdrawable:
  Call maxWithdraw(address owner) -> uint256 maxAssets
  Call maxRedeem(address owner) -> uint256 maxShares

## How to Harvest Yield

Yield from the strategy accrues over time and needs to be harvested periodically. Anyone can call this -it's permissionless.

Call harvestYield() on the vault contract. No arguments needed.
- This claims rewards from the yield strategy (e.g., CRV rewards from StakeDAO), sells them, and compounds them back into the strategy.
- Reverts if emergencyMode is active or if no yield strategy is set.
- Emits YieldHarvested(caller, harvestedAmount).

Example for each vault:
- WBTC Vault: call harvestYield() on 0x617A6877f0a55D1eF2B64b5861A2bB5Fe6FEB739
- wstETH Vault: call harvestYield() on 0xbaEc8343B610A5ee7Ca2c5b93507AC7def98E2B1
- XAUT Vault: call harvestYield() on 0x7d5281D590Fb0647aDc7d8494a2c8Fb8C2B23cBD

## How to Claim Merkle Rewards (StakeDAO)

The strategies stake LP tokens in StakeDAO, which distributes rewards via Merkle proofs. These rewards need to be claimed separately.

Step 1 -Check available rewards:
  Call GET https://zensats.app/api/merkle/:strategyAddress
  Pass the strategy address for the vault you want to claim for:
  - WBTC strategy: 0x73B753F63175F003881Dc39710d40c8E2F027FD8
  - wstETH strategy: 0x48c166Ad4E0fa3B344fb7efb93Fdee4bf7d9e861
  - XAUT strategy: 0xE2B44aE759446eF4C0151A2669122b4794Aee7C0

  Returns an array of claimable rewards with merkle proofs.

Step 2 -Claim rewards:
  Call execute(bytes[] claimsData) on the Merkle executor contract: 0x0f542fA75c871EB1b93Ef881b73e46acF733392f
  Each entry in claimsData is ABI-encoded: (merkleContract, account, token, amount, proof) prefixed with the claim function selector.

Note: Merkle rewards are external to the vault -they go to the strategy address. Harvesting (harvestYield) is the separate process that compounds strategy value into the vault's PPS.

## How to Trigger Rebalance

If the vault's LTV drifts outside its deadband (target LTV +/- spread), anyone can trigger a rebalance:

Call rebalance() on the vault contract. No arguments needed.
- Adjusts the borrowed amount to bring LTV back to target.
- Reverts if rebalance is not needed (LTV within deadband).
- Check isRebalanceNeeded(vaultAddress) on the ViewHelper first.

Rebalance bounty: The vault has a configurable bounty that pays the caller a percentage of
accrued yield fees as a reward for triggering rebalance(). Check rebalanceBountyRate() on
the vault (1e18 precision, default 20%). The bounty is paid in the debt asset (e.g., crvUSD).
Note: The performance fee switch is currently turned off (feeRate = 0) for growth, so no
bounty accumulates at this time. When the fee switch is enabled, calling rebalance() becomes
a paid opportunity. Check feeRate() on the vault -if it returns 0, no bounty will be paid.

Currently, rebalancing is handled automatically by Chainlink Automation keepers, but the
function is fully permissionless -anyone can call it.

## On-Chain View Functions (Smart Contracts)

You can read vault state directly from the Ethereum smart contracts without using the API.

### Vault Contract Functions
- totalAssets() -> uint256: Total collateral managed by the vault (in asset decimals)
- totalSupply() -> uint256: Total vault shares outstanding
- balanceOf(address) -> uint256: Share balance of an address
- convertToAssets(uint256 shares) -> uint256: Current asset value of shares
- convertToShares(uint256 assets) -> uint256: Shares equivalent of assets
- maxDeposit(address) -> uint256: Maximum depositable (0 = paused)
- maxWithdraw(address owner) -> uint256: Max assets withdrawable by owner
- maxRedeem(address owner) -> uint256: Max shares redeemable by owner
- previewDeposit(uint256 assets) -> uint256: Expected shares for deposit
- previewRedeem(uint256 shares) -> uint256: Expected assets for redemption
- idle() -> bool: True if vault is in idle mode (deposits held, not deployed)
- emergencyMode() -> bool: True if vault is in emergency mode (withdrawals only)
- depositCap() -> uint256: Maximum total deposits allowed
- targetLtv() -> uint256: Target loan-to-value ratio (1e18 precision, divide by 1e16 for %)
- feeRate() -> uint256: Performance fee rate (1e18 precision, divide by 1e16 for %)
- MIN_DEPOSIT() -> uint256: Minimum deposit amount in asset decimals

### ViewHelper Contract Functions (pass vault address as parameter)
- getHealth(address vault) -> int256: Vault health factor
- isRebalanceNeeded(address vault) -> bool: Whether LTV is outside deadband
- getTotalCollateralValue(address vault) -> uint256: Total value in collateral units
- getUserValue(address vault, address user) -> uint256: User's position value in collateral units

### LoanManager Contract Functions
- getCurrentLTV() -> uint256: Current loan-to-value (1e18 precision, divide by 1e16 for %)
- getCurrentDebt() -> uint256: Outstanding debt in debt asset decimals
- getCurrentCollateral() -> uint256: Collateral supplied in asset decimals

## Additional API Endpoints

Base URL: https://zensats.app

- GET /api/agent/vaults -All vaults with live state and deposit instructions (start here)
- GET /api/vault/:address/latest -Latest snapshot for a specific vault
- GET /api/vault/:address/history?interval=1h -Historical snapshots
- GET /api/vault/:address/metrics?period=7d -Performance metrics (APR, price change)
- GET /api/vault/:address/user/:user/profit -User profit/loss and position data
- GET /api/vault/:address/holders -Current vault share holders
- GET /api/rates -Current protocol borrowing/lending rates

Note: API endpoints use the vault contract address (e.g., 0x617A6877...), not the slug.

## Important Notes

- All vaults are on Ethereum mainnet only (chainId 1).
- Vaults use a leverage strategy. Your deposit is used as collateral to borrow stablecoins. The vault manages the LTV ratio automatically.
- Withdrawals may require the vault to unwind positions (repay debt, remove collateral). Large withdrawals relative to vault size may need multiple blocks.
- Share tokens are transferable ERC-20 tokens. They can be held, transferred, or used in other DeFi protocols.
- The vault charges a performance fee only on yield generated, not on deposits.
- If idle() returns true, deposits are accepted but not yet deployed into the strategy.
- If emergencyMode() returns true, only withdrawals are allowed -this is irreversible.
- Minimum deposit amounts may apply. Check MIN_DEPOSIT() on the vault contract.

## ERC-4626 Compatibility

These vaults are fully ERC-4626 compliant. Any ERC-4626 aggregator, router, or SDK (e.g., Yearn Router, ERC4626Router) can integrate with them using the standard interface. No custom integration is needed for basic deposit/withdraw functionality.

## Contract Verification

All contracts are verified on Etherscan. You can read the full source code and ABI there:
- WBTC Vault: https://etherscan.io/address/0x617A6877f0a55D1eF2B64b5861A2bB5Fe6FEB739#code
- wstETH Vault: https://etherscan.io/address/0xbaEc8343B610A5ee7Ca2c5b93507AC7def98E2B1#code
- XAUT Vault: https://etherscan.io/address/0x7d5281D590Fb0647aDc7d8494a2c8Fb8C2B23cBD#code