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PSM

Key Features

  • Direct Minting/Redemption: Buy DOLA with collateral or sell DOLA for collateral
  • ERC4626 Vault Integration: Collateral is automatically deposited into yield-generating vaults
  • Fed Integration: Automated DOLA supply management through PSMFed contract
  • Configurable Fees: Adjustable buy/sell fees to manage protocol economics
  • Profit Distribution: Automatic profit taking from vault yields to governance
  • Vault migration: Allows to migrate into a new vault automatically or manually via governance if some deposit or redeem limits in the vaults.

Core Contracts

PSM.sol

The main contract that handles:

  • DOLA buying and selling in exchange for collateral
  • Collateral management through ERC4626 vaults
  • Fee collection and profit distribution
  • Vault migration capabilities
  • Governance controls

PSMFed.sol

Federal Reserve-style contract for DOLA supply management:

  • Mint new DOLA for PSM operations (expansion)
  • Burn DOLA to reduce supply (contraction)
  • Supply cap enforcement
  • Chair-based monetary policy controls

Controller.sol

Access control layer for buy/sell operations:

  • Validates transaction permissions
  • Can implement custom logic for rate limiting, KYC, etc.
  • Currently allows all operations (template implementation)