Ton Contracts

Smart contracts form the core of the TON LSD Stack. The system comprises several key contracts, each serving a specific purpose in the liquid staking ecosystem. Here’s an overview of the main contracts:

StakePool

The StakePool contract manages individual liquid staking pools. Each pool represents a project party and handles staking, unstaking, and reward distribution.

Key functions:

• stake: Allows users to stake TON coins and receive LSD tokens
• request_loan: Validators(borrowers) can request loans for staking
• allocate_loan: Allocates loans to validators
• update_round: Updates the round status and handles data changes
• finish_loan: Completes the loan process and distributes rewards

StakePod

StakePod contracts are created for each validator participating in the system. They manage the interaction between validators and the Elector contract.

Key functions:

• proxy_new_stake: Proxies new stake requests to the Elector
• proxy_recover_stake: Recovers stakes from the Elector

LsdTokenMaster

The LsdTokenMaster contract manages the issuance and overall supply of LSD tokens. It acts as an intermediary between token holders and the stake pool, handling various proxy operations. General proxy function behavior:

Receives requests from authorized sources (stake pool or token wallets) Validates incoming requests Forwards valid requests to appropriate contracts for execution Ensures operations are carried out through proper channels

Key functions:

• proxy_mint_tokens: Mints new LSD tokens and sends them to specified recipient wallets.
• proxy_request_unstake: Handles unstaking requests from token holders.
• proxy_request_withdraw: Processes withdrawal requests for unstaked funds.

LsdTokenWallet

LsdTokenWallet contracts represent individual user wallets for LSD tokens.

Key functions:

• send_tokens: Sends LSD tokens to another address
• receive_tokens: Receives LSD tokens
• unstake: Initiates the unstaking process
• withdraw: Withdraws unstaked TON coins

System Characteristics

• Permissionless Operations: Many key operations, such as starting new rounds and allocating loans, are permissionless. This design enhances the decentralized nature of the TON LSD Stack.

• Round-based Processing: The system operates in rounds, with each round having different statuses (Open, Allocating, Allocated, Staking, Held, Finishing, Finished). This structure ensures orderly processing of stakes, loans, and rewards.

• Flexible Commission Structure: The system supports configurable commission rates for both the platform and the stack, allowing for adaptable fee structures.

• Validator Management: The system includes mechanisms for adding, removing, and updating validators, providing flexibility in managing the validator set.

This contract structure allows for a comprehensive, flexible, and secure liquid staking system on the TON blockchain, catering to various participants including stakers, validators, and project administrators.