peer-vault

name	peer-vault
description	Create and manage ZKP2P vaults (Delegated Rate Management). Set rates across pooled LP deposits, earn fees on fulfilled intents, and optimize pricing strategy. Use when the user wants to create a vault, manage vault rates, delegate deposits, or operate as a vault manager on ZKP2P.

ZKP2P Vault — Delegated Rate Management (DRM)

Overview

A ZKP2P vault is a permissionless Rate Manager that controls conversion rates and fees across multiple delegated LP deposits. Any address can create a vault on-chain. Depositors opt in per-deposit, delegating their rate management to the vault operator. The vault operator earns a fee (up to 5%) on every fulfilled intent routed through delegated deposits.

All vault operations are pure on-chain calls. No browser extension, no proof generation, no KYC required.

Contracts (Base Sepolia Staging — chain ID 84532):

Contract	Address	Environment
DepositRateManagerRegistryV1	0x3125F621482887d158cb51cE9b54D9D25b145877	Staging
DepositRateManagerController	0x2CF2FA7F21be0F920E1D8f4bb9C08E2c07F0E5d7	Staging
Escrow	0x5C2a8B9246777eE4501B6C426a8B8C7635C7b5b5	Staging

Note: Vault contracts are currently staging-only. Production addresses not yet available. The staging Escrow (0x5C2a8B...) is different from the production Escrow (0x2f121C...).

Staging Indexer: https://indexer.hyperindex.xyz/00be13d/v1/graphql

---

Setup

Install dependencies and configure a wallet for Base chain.

import { createWalletClient, createPublicClient, http, parseAbi, keccak256, toHex, encodePacked } from "viem";
import { base } from "viem/chains";
import { privateKeyToAccount } from "viem/accounts";

const account = privateKeyToAccount(process.env.PRIVATE_KEY as `0x${string}`);

const walletClient = createWalletClient({
  account,
  chain: base,
  transport: http(),
});

const publicClient = createPublicClient({
  chain: base,
  transport: http(),
});

const REGISTRY = "0x3125F621482887d158cb51cE9b54D9D25b145877";  // staging
const CONTROLLER = "0x2CF2FA7F21be0F920E1D8f4bb9C08E2c07F0E5d7"; // staging
const ESCROW = "0x5C2a8B9246777eE4501B6C426a8B8C7635C7b5b5";     // staging (NOT production 0x2f121C...)
const ADDRESS_ZERO = "0x0000000000000000000000000000000000000000";

---

Create a Vault

Call createRateManager() on the registry. Returns a bytes32 vault ID.

const registryAbi = parseAbi([
  "function createRateManager((address manager, address feeRecipient, uint256 maxFee, uint256 fee, address depositHook, string name, string uri)) returns (bytes32)",
]);

const FEE_PRECISION = 10n ** 18n; // 1e18 = 100%
const ONE_PERCENT = 10n ** 16n;   // 1e16 = 1%

const config = {
  manager: account.address,                // Wallet that controls the vault
  feeRecipient: account.address,           // Where fees are sent
  maxFee: 5n * ONE_PERCENT,               // 5% immutable ceiling (maximum allowed)
  fee: 1n * ONE_PERCENT,                  // 1% current fee
  depositHook: ADDRESS_ZERO,              // No opt-in hook
  name: "My Agent Vault",
  uri: "",                                // Optional IPFS metadata URI
};

const txHash = await walletClient.writeContract({
  address: REGISTRY,
  abi: registryAbi,
  functionName: "createRateManager",
  args: [config],
});

const receipt = await publicClient.waitForTransactionReceipt({ hash: txHash });
// Parse the RateManagerCreated event to get the rateManagerId

Constraints:

• maxFee is immutable after creation. Global hard cap is 5% (5e16). Choose carefully.
• fee must be <= maxFee.
• If fee > 0, feeRecipient must be non-zero.

---

Set Rates

Set minimum conversion rates for payment method / currency pairs. Rate uses 1e18 precision where 1e18 = 1:1 parity.

Payment Method and Currency Hashes

Rates are keyed by keccak256 hashes:

const venmoHash = keccak256(toHex("venmo"));
const wiseHash = keccak256(toHex("wise"));
const revolutHash = keccak256(toHex("revolut"));

const usdHash = keccak256(toHex("USD"));
const eurHash = keccak256(toHex("EUR"));
const gbpHash = keccak256(toHex("GBP"));

Set a Single Rate

const rateAbi = parseAbi([
  "function setMinRate(bytes32 rateManagerId, bytes32 paymentMethodHash, bytes32 currencyHash, uint256 rate)",
]);

// Set Venmo/USD rate to 1.005 (0.5% spread)
await walletClient.writeContract({
  address: REGISTRY,
  abi: rateAbi,
  functionName: "setMinRate",
  args: [
    rateManagerId,
    venmoHash,
    usdHash,
    1005000000000000000n, // 1.005 * 1e18
  ],
});

Batch Set Rates

Set multiple payment method / currency rates in one transaction.

const batchAbi = parseAbi([
  "function setMinRatesBatch(bytes32 rateManagerId, bytes32[] paymentMethods, bytes32[][] currencies, uint256[][] rates)",
]);

await walletClient.writeContract({
  address: REGISTRY,
  abi: batchAbi,
  functionName: "setMinRatesBatch",
  args: [
    rateManagerId,
    [venmoHash, wiseHash],                          // paymentMethods
    [[usdHash], [usdHash, eurHash]],                // currencies per method
    [[1005000000000000000n], [1005000000000000000n, 1100000000000000000n]], // rates
  ],
});

Setting a rate to 0 disables quoting for that pair across all delegated deposits.

---

Adjust Fees

Update the vault's current fee. Cannot exceed the immutable maxFee set at creation.

const feeAbi = parseAbi([
  "function setFee(bytes32 rateManagerId, uint256 newFee)",
]);

// Change fee to 2%
await walletClient.writeContract({
  address: REGISTRY,
  abi: feeAbi,
  functionName: "setFee",
  args: [rateManagerId, 2n * ONE_PERCENT],
});

Fee precision: 1e18 = 100%, 1e16 = 1%, 5e14 = 0.05%.

---

Delegate Deposits

Depositors opt in by calling setDepositRateManager() on the controller. Only the depositor can call this.

Delegate a Deposit to a Vault

const controllerAbi = parseAbi([
  "function setDepositRateManager(address escrow, uint256 depositId, address registry, bytes32 rateManagerId)",
  "function clearDepositRateManager(address escrow, uint256 depositId)",
]);

// Delegate deposit #42 to this vault
await walletClient.writeContract({
  address: CONTROLLER,
  abi: controllerAbi,
  functionName: "setDepositRateManager",
  args: [ESCROW, 42n, REGISTRY, rateManagerId],
});

Remove Delegation

// Revert deposit to using its own floor rates
await walletClient.writeContract({
  address: CONTROLLER,
  abi: controllerAbi,
  functionName: "clearDepositRateManager",
  args: [ESCROW, 42n],
});

Rules:

• One vault per deposit. Call clearDepositRateManager() before switching.
• If the vault has a deposit hook, it runs on-chain and may revert (e.g., minimum liquidity check).

---

Monitor Performance

Query the staging indexer for vault performance data.

Vault Aggregate Stats

query VaultPerformance($rateManagerId: String!) {
  ManagerAggregateStats(where: { rateManagerId: { _eq: $rateManagerId } }) {
    totalFilledVolume
    totalFeeAmount
    totalPnlUsdCents
    fulfilledIntents
    currentDelegatedBalance
    currentDelegatedDeposits
    updatedAt
  }
}

Per-Intent Breakdown

query IntentStats($rateManagerId: String!) {
  ManagerStats(
    where: { rateManagerId: { _eq: $rateManagerId } }
    order_by: { createdAt: desc }
    limit: 20
  ) {
    intentId
    depositId
    amount
    quoteConversionRate
    marketRate
    spreadBps
    pnlUsdCents
    managerFee
    managerFeeAmount
    createdAt
  }
}

Fetch from TypeScript

const INDEXER = "https://indexer.hyperindex.xyz/00be13d/v1/graphql";

async function queryIndexer(query: string, variables: Record<string, any> = {}) {
  const res = await fetch(INDEXER, {
    method: "POST",
    headers: { "Content-Type": "application/json" },
    body: JSON.stringify({ query, variables }),
  });
  const json = await res.json();
  return json.data;
}

const stats = await queryIndexer(
  `query($id: String!) {
    ManagerAggregateStats(where: { rateManagerId: { _eq: $id } }) {
      totalFilledVolume totalFeeAmount fulfilledIntents
      currentDelegatedBalance currentDelegatedDeposits
    }
  }`,
  { id: rateManagerId }
);

---

Rate Mechanics

Effective Rate

effectiveMinRate = max(depositorFloor, managerRate)

• The vault can only raise the floor, never lower it. The depositor's safety floor is always preserved.
• If managerRate == 0, the pair is disabled and returns 0.

Fee-Adjusted Conversion Rate

The rate takers see includes the vault fee:

effectiveConversionRate = grossRate * 1e18 / (1e18 - managerFee)

Example: 1.0 gross rate + 1% fee = 1.010101... effective rate shown to takers.

Fee Calculation on Fulfillment

managerFeeAmount = intentAmount * managerFee / 1e18

Example: 100 USDC intent with 2% fee = 2 USDC fee to feeRecipient.

Fee Snapshot

Fees are snapshotted at intent signaling time, not at fulfillment. If the vault manager changes the fee between signaling and fulfillment, the original snapshotted fee applies. This prevents front-running.

---

Browse Vaults

List All Vaults

query AllVaults {
  RateManager(order_by: { createdAt: desc }) {
    id
    rateManagerId
    manager
    name
    fee
    maxFee
    feeRecipient
    uri
    createdAt
  }
}

Get Vault Rates

query VaultRates($rateManagerId: String!) {
  RateManagerRate(where: { rateManagerId: { _eq: $rateManagerId } }) {
    paymentMethodHash
    currencyCode
    managerRate
    updatedAt
  }
}

Get Delegated Deposits

query DelegatedDeposits($rateManagerId: String!) {
  RateManagerDelegation(where: { rateManagerId: { _eq: $rateManagerId } }) {
    depositId
    createdAt
    updatedAt
  }
}

---

Security

1. Immutable maxFee -- Once set at vault creation, the fee ceiling can never be raised. Depositors can trust this cap when delegating.
2. Fee snapshot -- Fees are locked at intent signal time. Vault operators cannot increase fees on in-flight intents.
3. Depositor floor preserved -- effectiveMinRate = max(depositorFloor, managerRate). The vault can never set a rate below the depositor's own minimum.
4. One vault per deposit -- Prevents conflicting rate management. Must explicitly clear before switching.
5. Private key safety -- Never hardcode private keys. Use environment variables or a secure key management system. Validate all amounts before submitting transactions.
6. Hook validation -- Vaults with deposit hooks can enforce custom opt-in requirements (e.g., minimum deposit size). Expect reverts if requirements are not met.