MoreMarkets
  • MOREMARKETS
    • Introduction
    • Global Liquidity Marketplace
    • What Problems Do MoreMarkets Solve?
    • Applications
    • User Flow
    • Chains
  • PROTOCOL CONCEPTS
    • Architecture
    • BoringVault
    • Manager
    • Tellers
      • ReceiptTeller
      • RouterTeller
    • Tokens
      • Principal Tokens
      • Receipt Tokens
      • Positional Tokens
    • NEAR Chain Signatures
    • Deposit and Withdrawals
    • Message Passing Systems
      • Wormhole
      • Omni Bridge
      • NFFL
  • DEVELOPERS
    • Contracts
    • API/SDK
  • RESOURCES
    • FAQs
    • Glossary
    • Privacy Policy
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  • MoreMarkets Architecture
  • How It Works
  1. PROTOCOL CONCEPTS

Architecture

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Last updated 1 day ago

MoreMarkets Architecture

The MoreMarkets architecture is designed to enable seamless cross-chain liquidity access and management. Here’s a quick breakdown of the key components and their interactions:

1. Principal Chain

  • Primary BoringVault: Stores native assets deposited from the Principal Chain and issues vault shares.

  • ReceiptTeller (Wormhole): Facilitates cross-chain message passing, deposits and issues receipts.

  • Null Manager & Null Strategist: For now this component is not enabled, but eventually will allow strategy managers to manage remote strategies directly from principal chain.

2. Receipt Chain

  • ReceiptTeller (Wormhole): Receives cross-chain message passing to the Receipt Chain.

  • Primary BoringVault: Mints receipts based on verified deposits.

  • RouterTeller: Manages positions and interacts with the Receipt BoringVault.

  • Receipt BoringVault: Core liquidity pool for deposited assets.

  • Root Manager: Administrative component for vault governance.

  • Strategist: Implements yield strategies for deposited assets.

  • Application: End-user protocols that utilize the liquidity (with liquidation/slashing capabilities).

3. Manager & Strategist

  • Manager Contract: Authenticates and executes strategist calls for rebalancing assets across chains.

  • Strategist: Analyzes market opportunities and allocates liquidity to maximize yield.

4. Accountant

  • Tracks asset prices and ensures accurate valuation of vault shares and receipt tokens.

5. Application Layer

  • Deposit: Users deposit assets into the vault, receiving yield-bearing positional tokens.

  • Restaking/Yield Aggregators: Strategists deploy assets into high-yield opportunities like restaking protocols or DEX liquidity pools.

How It Works

  1. Deposit: Users deposit assets from Principal Chain into the Primary BoringVault.

  2. Cross-Chain Message Passing: ReceiptTeller passes message to the Receipt Chain.

  3. Liquidity Allocation: Strategists rebalance assets across chains using the Manager Contract, deploying them into high-yield strategies.

  4. Yield Generation: Assets generate yield, which flows back into the vault, increasing the value of user positions.

MoreMarkets System Architecture