InstitutionalVaultController

Inherits: Initializable, AccessControlledV8

Title: InstitutionalVaultController

Central orchestrator for the Institutional Vault system. Deploys vault clones, maintains the registry, holds the Venus ACM reference, and proxies governance operations to vaults.

Deployed as a transparent proxy (upgradeable via ProxyAdmin).

Solidity API

State Variables

MANTISSA_ONE

uint256 public constant MANTISSA_ONE = 1e18

MANTISSA_ONE_AND_HALF

Maximum allowed multiplier for rate parameters (LI, LP). Caps bonus/penalty at 50% above mantissa.

uint256 public constant MANTISSA_ONE_AND_HALF = 1.5e18

MAX_APY_BPS

Maximum allowed fixed APY in basis points (100% = 10 000 bps). Interest is calculated as: totalRaised * fixedAPY * lockDuration / (BPS * YEAR).

uint256 public constant MAX_APY_BPS = 10_000

vaultImplementation

InstitutionalLoanVault implementation address for cloning.

address public vaultImplementation

liquidationAdapter

LiquidationAdapter contract address.

address public liquidationAdapter

oracle

Venus ResilientOracle address.

address public oracle

protocolShareReserve

Venus ProtocolShareReserve (PSR) address.

address public protocolShareReserve

comptroller

Comptroller address for PSR integration.

address public comptroller

treasury

Treasury address — recipient for swept tokens.

address public treasury

positionToken

InstitutionPositionToken contract address.

IInstitutionPositionToken public positionToken

allVaults

Array of all deployed vault addresses.

address[] public allVaults

isRegistered

Whether a vault is registered.

mapping(address => bool) public isRegistered

institutionNonce

Per-institution deploy counter (for CREATE2 salt).

mapping(address => uint256) public institutionNonce

Functions

constructor

Note: oz-upgrades-unsafe-allow: constructor

constructor();

initialize

Initializes the controller proxy.

function initialize(
    address vaultImplementation_,
    address oracle_,
    address protocolShareReserve_,
    address comptroller_,
    address treasury_,
    address positionToken_,
    address acm_
) external initializer;

Parameters

Name	Type	Description
vaultImplementation_	address	InstitutionalLoanVault implementation for cloning.
oracle_	address	Venus ResilientOracle address.
protocolShareReserve_	address	PSR address.
comptroller_	address	Comptroller address for PSR.
treasury_	address	Treasury address — recipient for swept tokens.
positionToken_	address	InstitutionPositionToken address.
acm_	address	Venus AccessControlManager address.

acceptPositionTokenOwnership

Accepts pending ownership of the InstitutionPositionToken. Required because PositionToken uses Ownable2Step. Call after transferOwnership.

function acceptPositionTokenOwnership() external;

createVault

Deploys a new vault clone via deterministic CREATE2.

Note: event: VaultCreated

function createVault(
    VaultConfig calldata _vaultConfig,
    InstitutionalConfig calldata _instConfig,
    RiskConfig calldata _riskConfig,
    string calldata _name,
    string calldata _symbol
) external returns (address vault);

Parameters

Name	Type	Description
_vaultConfig	VaultConfig	Shared vault configuration (asset, rates, caps, timing).
_instConfig	InstitutionalConfig	Institutional-specific configuration (collateral, sizing, position identity).
_riskConfig	RiskConfig	Risk parameters.
_name	string	ERC-20 share token name for the deployed vault.
_symbol	string	ERC-20 share token symbol for the deployed vault.

Returns

Name	Type	Description
vault	address	Deployed vault address.

openVault

Transitions MarginDeposited -> Fundraising on a vault.

Note: error: VaultNotRegistered If vault is not in the registry.

function openVault(address vault) external;

Parameters

Name	Type	Description
vault	address	Vault address.

cancelVault

Cancels a pre-launch vault and refunds any deposited collateral to the NFT position holder. Callable only on a vault still in WaitingForMargin or MarginDeposited.

Note: error: VaultNotRegistered If vault is not in the registry.

function cancelVault(address vault) external;

Parameters

Name	Type	Description
vault	address	Vault address.

partialPauseVault

Partial pause — blocks general operations; repay and liquidation remain available.

Note: error: VaultNotRegistered If vault is not in the registry.

function partialPauseVault(address vault) external;

Parameters

Name	Type	Description
vault	address	Vault address.

completePauseVault

Complete pause — blocks all operations including repay and liquidation.

Note: error: VaultNotRegistered If vault is not in the registry.

function completePauseVault(address vault) external;

Parameters

Name	Type	Description
vault	address	Vault address.

unpauseVault

Unpause vault — removes all pause restrictions.

Note: error: VaultNotRegistered If vault is not in the registry.

function unpauseVault(address vault) external;

Parameters

Name	Type	Description
vault	address	Vault address.

closeVault

Transitions vault to Closed state. All operations are blocked after this point.

Note: error: VaultNotRegistered If vault is not in the registry.

function closeVault(address vault) external;

Parameters

Name	Type	Description
vault	address	Vault address.

sweep

Recovers stuck tokens from a vault to treasury.

Note: error: VaultNotRegistered If vault is not in the registry.

function sweep(address vault, address token) external;

Parameters

Name	Type	Description
vault	address	Vault address.
token	address	Token address to sweep.

approvePositionTransfer

Approves transfer of the vault’s position token to a specific recipient.

Note: error: VaultNotRegistered If vault is not in the registry.

function approvePositionTransfer(address vault, address recipient) external;

Parameters

Name	Type	Description
vault	address	Vault address.
recipient	address	The address that must be the destination of the next transfer.

revokePositionTransfer

Revokes a previously granted approval.

Note: error: VaultNotRegistered If vault is not in the registry.

function revokePositionTransfer(address vault) external;

Parameters

Name	Type	Description
vault	address	Vault address.

setLiquidationThreshold

Updates liquidation threshold on a vault.

Notes:

• error: VaultNotRegistered If vault is not in the registry.
• error: InvalidLiquidationThreshold If newLT == 0 or newLT > MANTISSA_ONE.
• event: LiquidationThresholdUpdated

function setLiquidationThreshold(address vault, uint256 newLT) external;

Parameters

Name	Type	Description
vault	address	Vault address.
newLT	uint256	New liquidation threshold (mantissa).

setLiquidationIncentive

Updates liquidation incentive on a vault.

Notes:

• error: VaultNotRegistered If vault is not in the registry.
• error: InvalidLiquidationIncentive If newLI <= MANTISSA_ONE or newLI > MANTISSA_ONE_AND_HALF.
• event: LiquidationIncentiveUpdated

function setLiquidationIncentive(address vault, uint256 newLI) external;

Parameters

Name	Type	Description
vault	address	Vault address.
newLI	uint256	New liquidation incentive (mantissa). Must be in range (MANTISSA_ONE, MANTISSA_ONE_AND_HALF].

setLatePenaltyRate

Updates late penalty rate on a vault.

Notes:

• error: VaultNotRegistered If vault is not in the registry.
• error: InvalidLatePenaltyRate If newRate <= MANTISSA_ONE or newRate > MANTISSA_ONE_AND_HALF.
• event: LatePenaltyRateUpdated

function setLatePenaltyRate(address vault, uint256 newRate) external;

Parameters

Name	Type	Description
vault	address	Vault address.
newRate	uint256	New late penalty rate (mantissa). Must be in range (MANTISSA_ONE, MANTISSA_ONE_AND_HALF].

setVaultImplementation

Update clone source. Only affects future vaults.

Notes:

• error: InvalidAddress if zero address.
• event: VaultImplementationUpdated

function setVaultImplementation(address impl) external;

Parameters

Name	Type	Description
impl	address	New implementation address.

setLiquidationAdapter

Update LiquidationAdapter address.

Notes:

• error: InvalidAddress if zero address.
• event: LiquidationAdapterUpdated

function setLiquidationAdapter(address adapter) external;

Parameters

Name	Type	Description
adapter	address	New adapter address.

setOracle

Update ResilientOracle reference.

Notes:

• error: InvalidAddress if zero address.
• event: OracleUpdated

function setOracle(address oracle_) external;

Parameters

Name	Type	Description
oracle_	address	New oracle address.

setProtocolShareReserve

Update ProtocolShareReserve address.

Notes:

• error: InvalidAddress if zero address.
• event: ProtocolShareReserveUpdated

function setProtocolShareReserve(address psr) external;

Parameters

Name	Type	Description
psr	address	New PSR address.

setComptroller

Update comptroller address for PSR.

Notes:

• error: InvalidAddress if zero address.
• event: ComptrollerUpdated

function setComptroller(address comptroller_) external;

Parameters

Name	Type	Description
comptroller_	address	New comptroller address.

setTreasury

Update treasury address for swept tokens.

Notes:

• error: InvalidAddress if zero address.
• event: TreasuryUpdated

function setTreasury(address treasury_) external;

Parameters

Name	Type	Description
treasury_	address	New treasury address.

predictVaultAddress

Predicts the next vault address for a given institution.

function predictVaultAddress(address institution) external view returns (address);

Parameters

Name	Type	Description
institution	address	Institution operator address.

Returns

Name	Type	Description
<none>	address	Predicted vault address.

getAggregatedVaultStates

Returns state summary for all registered vaults.

function getAggregatedVaultStates() external view returns (VaultStateInfo[] memory);

Returns

Name	Type	Description
<none>	VaultStateInfo[]	Array of VaultStateInfo structs.

allVaultsLength

Returns total number of deployed vaults.

function allVaultsLength() external view returns (uint256);

Returns

Name	Type	Description
<none>	uint256	Number of vaults in registry.

renounceOwnership

Disabled — renouncing ownership would permanently brick ACM-gated vault governance.

Note: error: OwnershipCannotBeRenounced Always reverts.

function renounceOwnership() public pure override;

Events

VaultCreated

event VaultCreated(address indexed vault, address indexed institution);

VaultImplementationUpdated

event VaultImplementationUpdated(address indexed oldImpl, address indexed newImpl);

LiquidationAdapterUpdated

event LiquidationAdapterUpdated(address indexed oldAdapter, address indexed newAdapter);

OracleUpdated

event OracleUpdated(address indexed oldOracle, address indexed newOracle);

ProtocolShareReserveUpdated

event ProtocolShareReserveUpdated(address indexed oldPSR, address indexed newPSR);

ComptrollerUpdated

event ComptrollerUpdated(address indexed oldComptroller, address indexed newComptroller);

TreasuryUpdated

event TreasuryUpdated(address indexed oldTreasury, address indexed newTreasury);

LiquidationThresholdUpdated

event LiquidationThresholdUpdated(address indexed vault, uint256 newLT);

LiquidationIncentiveUpdated

event LiquidationIncentiveUpdated(address indexed vault, uint256 newLI);

LatePenaltyRateUpdated

event LatePenaltyRateUpdated(address indexed vault, uint256 newRate);

Errors

VaultNotRegistered

error VaultNotRegistered();

InvalidConfig

error InvalidConfig();

InvalidLiquidationThreshold

error InvalidLiquidationThreshold();

InvalidLiquidationIncentive

error InvalidLiquidationIncentive();

InvalidLatePenaltyRate

error InvalidLatePenaltyRate();

InvalidAddress

error InvalidAddress();

OwnershipCannotBeRenounced

error OwnershipCannotBeRenounced();