# ZenSats

> ERC-4626 carry trade vaults on Ethereum mainnet. Deposit collateral (WBTC, wstETH), borrow stablecoins via LlamaLend, deploy to StakeDAO yield strategies, earn the spread. Fully permissionless rebalance and harvest.

## Start here (one fetch gets everything)

- [llms-full.txt](https://zensats.app/llms-full.txt): Complete concatenated documentation — agent API reference, vault addresses, deposit/withdraw flows, and all doc pages in one file. **Fetch this first.**

## Documentation (plain markdown, no JavaScript required)

- [Overview](https://zensats.app/docs.md): Protocol summary, active vs legacy vaults, how carry trades work
- [Zenji Vault](https://zensats.app/docs/vault.md): ERC-4626 accounting, rebalancing, strategy/debt ratio, risk controls
- [Loan Manager](https://zensats.app/docs/loan-manager.md): LlamaLend (active) and Aave V3 (legacy) borrowing
- [Yield Strategy](https://zensats.app/docs/strategy.md): LlamaLend + StakeDAO crvUSD/USDT flow and legacy pmUSD strategy
- [Governance](https://zensats.app/docs/governance.md): Roles, timelock scope, emergency authority, hard caps
- [Risks](https://zensats.app/docs/risks.md): Risk disclosure — smart contract, liquidation, protocol, market risks
- [Contracts](https://zensats.app/docs/contracts.md): All vault addresses, oracles, external protocol integrations

## Agent API

- [Agent API reference](https://zensats.app/docs/agent-api.md): Deposit/withdraw/harvest/rebalance flows, on-chain view functions, all API endpoints
- [GET /api/agent/vaults](https://zensats.app/api/agent/vaults): Live TVL, APR, share prices, contract addresses, deposit/withdraw instructions

## Strategy economics (active LlamaLend vaults)

- [GET /api/llamalend?controller=0x...](https://zensats.app/api/llamalend): LlamaLend crvUSD borrow APY history
- [GET /api/stakedao-apr?gauge=0x...](https://zensats.app/api/stakedao-apr): Live StakeDAO yield APR

Implied carry ≈ `LTV × (yield APR − borrow APY)`. Default vault slug: `wbtc-llamalend`.

## Active vaults (open for deposits)

- [WBTC LlamaLend vault](https://zensats.app/vault/wbtc-llamalend): `0x18E2F4F2E6565187fce73ECC707579E5F7933f74` — WBTC collateral, crvUSD debt, StakeDAO crvUSD/USDT LP
- [wstETH LlamaLend vault](https://zensats.app/vault/wsteth-llamalend): `0x23F189dE34EED95f6303CfF1C77f7676F211Dd2c` — wstETH collateral, same strategy

## Legacy vaults (withdraw-only)

- [WBTC pmUSD legacy](https://zensats.app/vault/wbtc-pmusd): `0x617A6877f0a55D1eF2B64b5861A2bB5Fe6FEB739`
- [wstETH pmUSD legacy](https://zensats.app/vault/wsteth-pmusd): `0xbaEc8343B610A5ee7Ca2c5b93507AC7def98E2B1`
- [XAUT pmUSD legacy](https://zensats.app/vault/xaut-pmusd): `0x7d5281D590Fb0647aDc7d8494a2c8Fb8C2B23cBD`

## Optional

- [Human docs (HTML, SSR)](https://zensats.app/docs): Same content with navigation chrome — also curl-fetchable, but markdown URLs above are lower-noise for LLMs
- [GitHub contracts](https://github.com/NateBrune/ZenSats-contracts): Source code and ABIs
- [DeFi app](https://zensats.app/menu): Vault picker (requires JavaScript)