gVault contract

Purpose

gVault enables users (and integrators) to opt into per‑validator delegation while retaining a reward‑bearing, non‑rebasing share model that is friendly to DeFi integrations.

gVault protection (slashing isolation)

• gVault depositors are isolated from the slashing that could occur within CoreVault. Losses impacting CoreVault do not propagate to gVault positions.

• gVault users remain exposed only to the risk of the specific validator(s) they choose inside gVault.

Shares, multipliers, and caps

• Per‑validator shares (ERC‑4626‑style accounting): Each validator maintains its own total shares and user share balances; gVault converts between shares and assets using the current stake accounting for that validator.

• Multiplier P with scaling (Liquity‑style): gVault tracks a cumulative multiplier per “scale” to fairly adjust user principal units during admin liquidity events (e.g., protocol‑wide outflows). Rescaling avoids precision loss when cumulative multipliers get too small.

• Deposit caps:

  • Per‑validator absolute caps (optional).

  • A defaultCapBps cap based on Magma’s total assets when no absolute cap is set.

  • Caps prevent over‑concentration in any single validator.

Deposits (synchronous)

• Deposits are synchronous and mint gVault shares for a chosen validator immediately.

• Users can deposit MON (native) or WMON (ERC‑20). Funds are staked to the selected validator, enforcing per‑validator caps.

• Non‑rebasing design: balances do not increase; instead, the share‑to‑asset rate appreciates as rewards accrue.

Withdrawals (asynchronous)

• For redemptions sourced from gVault, undelegations are created against the specific validator.

• A maxWithdrawableFromGVault guard ensures a user’s claim is bounded by their compounded principal (after any admin multipliers).

• Completion occurs once undelegations mature; a withdrawal fee is applied at the point of payout.

Rewards

• Rewards can be claimed and compounded per validator; a rewards fee is applied before re‑staking.

Validator management

• The owner can add validators to gVault’s whitelist and execute removal via the standard pause/undelegate/withdraw lifecycle.

• gVault disallows re‑adding a validator that has been fully removed under certain lifecycle states.

Compatibility

• Works with Monad’s staking precompile and inherits the same epoch‑based undelegation/withdrawal semantics. See Monad Staking.