Staking Contract

Staking

Overview

RovBTC is the main user-facing vault contract of the Rover protocol. It allows holders of native BTC, pBTC, or already-staked stBTC to deposit their assets and receive rovBTC – an ERC-4626 compliant receipt token that represents a share of the protocol's pooled collateral and its staking rewards.

Behind the scenes every deposit is converted into stBTC (a yield-bearing representation of pBTC) and kept inside the vault. As the underlying stBTC balance grows due to staking rewards, each rovBTC token becomes redeemable for an ever-growing amount of BTC.

This page explains the complete staking lifecycle, the fees that apply, and the roles that safeguard the contract.

Deposit flow

1. Pre-checks

1. Contract must not be paused.

2. assets must be non-zero.

3. The desired deposit must not push the vault above maxDepositTVL (if the limit is set).

2. Asset handling

• BTC ⇒ pBTC – If the user sends native BTC the contract immediately wraps it into pBTC via pBTC.deposit{value: msg.value}().

• pBTC ⇒ stBTC – pBTC is approved to the staking contract and staked with stBTC.deposit(assets, address(this)).

• stBTC direct – For depositStakedBTC the user directly transfers stBTC to the vault, so only an ERC-20 transfer is required.

3. Minting rovBTC

The amount of rovBTC minted equals the amount of stBTC shares the vault received (sharesReceived). This keeps rovBTC perfectly aligned with the underlying stBTC position.

Withdrawal / Redemption flow

Users can leave the vault through three public functions:

• withdraw – burn enough rovBTC so that exactly assets pBTC are returned.

• redeem – burn a specific amount of rovBTC shares and receive pBTC (amount determined by previewRedeem).

• redeemNativeBTC – like redeem but unwraps pBTC to native BTC and transfers it to receiver.

Net assets are delivered to the user (pBTC transfer or unwrap + native BTC transfer).

Rewards fee

The protocol may charge a fee on staking gains – never on principal. The fee percentage is stored in rewardsFee and can be changed by an account holding the RovBTC Admin role.

Events

• Deposit(caller, receiver, assets, shares) – standard ERC-4626 deposit event.

• Referral(caller, assets, referralId) – emitted on each deposit function, carries an optional referral identifier.

• RewardFeeCollected(gains, feeAmount) – emitted whenever a withdrawal produces gains.

Helpers

Preview functions

• previewDeposit(assets) – exact rovBTC a user will receive for assets pBTC.

• previewWithdraw(assets) – shares required to receive exactly assets pBTC (net of fee).

• previewRedeem(shares) – net pBTC the user will receive for redeeming shares rovBTC.

TVL helpers

• calculateTVL() / totalAssets() – expose the current total value locked (in pBTC terms).

Glossary

• BTC – Native Bitcoin on Botanix.

• pBTC – Wrapped BTC ERC-20 token, 1:1 with native BTC.

• stBTC – Staked BTC ERC-20 token accruing staking rewards.

• rovBTC – ERC-4626 vault token representing a share of the Rover stake pool.