Aleph Protocol

Aleph is a financial infrastructure for uncorrelated yield strategies, connecting digital asset allocators with institutional money managers.

Documentation • Website • Twitter • GitHub

Overview

Aleph Vault tokenizes off-chain yield strategies into asynchronous vaults, deriving their value from the underlying NAV. The system simplifies complex operations for managers and allocators, handles whitelisting, subscriptions, Classes and Series, HWM, fee accrual, and capital distribution.

Aleph Vault operates as a settlement-based system; deposits/redemptions are settled only after a new NAV is published. The vault manager initiates NAV updates and settlement cycles, and the whitelisted vault is used as the “subscription escrow”.

Features

Customization: apply custom parameters for subscription, fee logic, and other key controls.
Fee management: calculated per class/series and enforced by contracts.
Built-in compliance: whitelisted access through a verification process.
Canonical states: deposits/redemptions settle in batches at the same per-share price.

🏗️ Architecture

Core Components

graph TB
    A[AlephVaultFactory] --> B[AlephVault]
    B --> C[AlephVaultDeposit]
    B --> D[AlephVaultRedeem]
    B --> E[AlephVaultSettlement]
    B --> F[FeeManager]
    B --> G[MigrationManager]
    H[Accountant] --> B
    I[Oracle] --> E
    J[Guardian] --> B

Smart Contract Overview

Contract	Purpose	Key Features
AlephVaultFactory	Vault deployment and management	CREATE2 deployment, protocol parameters
AlephVault	Main vault logic	Async operations, share management
AlephVaultDeposit	Deposit handling	Async deposits, batch processing
AlephVaultRedeem	Redemption handling	Async redemptions, notice periods
AlephVaultSettlement	NAV settlements	Oracle integration, batch settlements
FeeManager	Fee management	Management & performance fees
Accountant	Fee accounting	Protocol-level fee tracking
MigrationManager	Upgrades	Safe contract migrations

🚀 Quick Start

Prerequisites

Foundry - Smart contract development toolkit
Node.js v18+ - For TypeScript scripts
Git - Version control

Installation

# Clone the repository
git clone https://github.com/AlephFi/smart-contracts.git
cd Aleph

# Install Foundry dependencies
forge install

# Install Node.js dependencies (for scripts)
npm install

# Build contracts
forge build

# Run tests
forge test

# Run tests with gas reporting
forge test --gas-report

Development Setup

# Copy environment template
cp .env.example .env

# Edit environment variables
vim .env

# Run specific tests
forge test --match-test testDeposit

# Run tests with verbosity
forge test -vvv

# Check code coverage
forge coverage

🔧 Configuration

Environment Variables

# Network Configuration
SEPOLIA_RPC_URL="https://gateway.tenderly.co/public/sepolia"
HOODI_RPC_URL="https://ethereum-hoodi-rpc.publicnode.com"

# Deployment
PRIVATE_KEY="your-private-key"
ETHERSCAN_API_KEY="your-etherscan-api-key"

# Safe Integration
SAFE_ADDRESS="your-safe-multisig-address"
SAFE_API_URL="https://safe-transaction-sepolia.safe.global"

Contract Configuration Files

factoryConfig.json - Factory deployment parameters
accountantConfig.json - Accountant setup
deploymentConfig.json - General deployment config

💡 Usage Examples

Basic Vault Interaction

// Request a deposit (async)
uint48 batchId = vault.requestDeposit(
    IAlephVaultDeposit.RequestDepositParams({
        classId: 1,
        amount: 1000e18,
        signature: signature,
        deadline: block.timestamp + 1 hours
    })
);

// Oracle settles the batch
vault.settleDeposit(
    IAlephVaultSettlement.SettlementParams({
        classId: 1,
        batchId: batchId,
        totalAssetsDeposited: 1000e18,
        sharePrice: 1e6
    })
);

// Request redemption (async)
uint48 redeemBatchId = vault.requestRedeem(
    IAlephVaultRedeem.RedeemRequestParams({
        classId: 1,
        shareAmount: 500e18,
        signature: signature,
        deadline: block.timestamp + 1 hours
    })
);

Advanced Features

// Create new share class
uint8 classId = vault.createShareClass(
    IAlephVault.ShareClassParams({
        managementFee: 200, // 2%
        performanceFee: 2000, // 20%
        noticePeriod: 7 days,
        lockInPeriod: 30 days,
        minDepositAmount: 100e18,
        minUserBalance: 50e18,
        maxDepositCap: 1000000e18,
        minRedeemAmount: 10e18
    })
);

// Queue parameter changes (timelock)
vault.queueMinDepositAmount(classId, 200e18);

// Execute after timelock
vault.setMinDepositAmount(classId);

🧪 Testing

Run Test Suite

# All tests
forge test

# Specific test file
forge test --match-path test/units/deposit/AlephVaultDeposit.unit.t.sol

# Integration tests
forge test --match-path test/integrations/

# Fuzzing tests
forge test --match-path test/invariants/

# Gas optimization tests
forge test --gas-report

Test Categories

Unit Tests (test/units/) - Individual contract testing
Integration Tests (test/integrations/) - End-to-end workflows
Invariant Tests (test/invariants/) - Property-based fuzzing
Gas Tests - Gas consumption analysis

📋 Development

Code Style

The project follows strict formatting and style guidelines:

# Format code
forge fmt

# Check formatting
forge fmt --check

# Lint (if configured)
npm run lint

Key Development Principles

Security First - All functions include proper access controls
Gas Optimization - Efficient storage patterns and minimal external calls
Modularity - Clean separation of concerns with delegate patterns
Upgradability - Safe upgrade patterns with timelock governance
Documentation - Comprehensive NatSpec documentation

🔐 Security

Security Features

Role-Based Access Control - Fine-grained permission system
Emergency Pause System - Circuit breakers for critical functions
Timelock Governance - Delayed parameter changes
Reentrancy Protection - Guards against reentrancy attacks
Input Validation - Comprehensive parameter checking

Audit Status

✅ Internal security reviews completed
🔄 External audit in progress
📋 Bug bounty program planned

Reporting Security Issues

Please report security vulnerabilities to dev@aleph.finance

📚 Documentation

Core Interfaces

IAlephVault - Main vault interface with view methods
IAlephVaultDeposit - Async deposit functionality
IAlephVaultRedeem - Async redemption functionality
IAlephVaultSettlement - Oracle settlement interface
IFeeManager - Fee calculation and collection
IAccountant - Protocol-level accounting

Key Concepts

Share Classes - Different investment terms within a vault
Batch Settlement - Async processing with NAV updates
High Water Mark - Performance fee calculation benchmark
Notice Periods - Required waiting time for redemptions
Lock-in Periods - Minimum investment duration

🌍 Deployment

Supported Networks

Network	Chain ID	Status
Ethereum Mainnet	1	🔄 Coming Soon
Sepolia Testnet	11155111	✅ Active
Hoodi Testnet	560048	✅ Active

Factory Addresses

Network	Factory Address
Sepolia Testnet	`TBD`
Hoodi Testnet	`TBD`

Deployment Scripts

# Deploy factory
forge script script/DeploymentScripts/DeployFactory.s.sol --rpc-url $SEPOLIA_RPC_URL --broadcast --verify

# Deploy accountant
forge script script/DeploymentScripts/DeployAccountant.s.sol --rpc-url $SEPOLIA_RPC_URL --broadcast --verify

# Upgrade vault (via Safe)
npm run upgrade-vault

📄 License

This project is licensed under the Business Source License 1.1 (BUSL-1.1). See the LICENSE file for details.

📞 Support & Community

Documentation: docs.aleph.finance
Website: aleph.finance
Twitter: @Alephfi
GitHub: Othentic-Labs/Aleph
Email: hi@aleph.finance

🔗 Related Projects

Foundry: getfoundry.sh
OpenZeppelin: openzeppelin.com
Safe Multisig: safe.global

Built with ❤️ by Othentic Labs

Aleph Protocol - Redefining Digital Asset Management

Name		Name	Last commit message	Last commit date
Latest commit History 62 Commits
.github		.github
.vscode		.vscode
audits		audits
lib		lib
script		script
src		src
test		test
.env.example		.env.example
.gitignore		.gitignore
.gitmodules		.gitmodules
README.md		README.md
accountantConfig.json		accountantConfig.json
config.json		config.json
deploymentConfig.json		deploymentConfig.json
factoryConfig.json		factoryConfig.json
foundry.lock		foundry.lock
foundry.toml		foundry.toml
image.png		image.png
package-lock.json		package-lock.json
package.json		package.json
remappings.txt		remappings.txt
tsconfig.json		tsconfig.json
yarn.lock		yarn.lock

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