Lombard Finance EVM smart-contracts

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Content

1. Overview
2. One-time setup
3. Deployment
4. Audit
5. Misc

Overview

LBTC is liquid Bitcoin; it's yield-bearing, cross-chain, and 1:1 backed by BTC. LBTC enables yield-bearing BTC to move cross-chain without fragmenting liquidity, and is designed to seamlessly integrate Bitcoin into the decentralized finance (DeFi) ecosystem while maintaining the security and integrity of the underlying asset.

Smart contract	Description
Bascule	Bascule drawbridge designed to prevent bridge hacks before they hit the chain.
Consortium	The contract utilizes notary consortium multi-signature verification.
LombardTimelock	Safeguard helps to perform delayed transactions (e.g. implementation upgrade).
LBTC	ERC20 token to interact with protocol.
GnosisSafeProxy	Lombard governance, pauser and treasury wallets.
Bridge	Lombard multi-factor bridge. Supports different adapters (like CCIP as second factor to bridge LBTC.
OFTAdapters	LayerZero adapters for LBTC with different strategies.
ProxyFactory	CREATE3 factory allows to deploy proxies with same address.
FBTCPartnerVault	Allows to stake FBTC token.
PMMs	Swap pools to accept wrapped BTC ERC20 tokens (like cbBTC and BTCb).
PoR	Bitcoin addresses storage with the ownership proof system.
StakeAndBake	Convenience contract for users who wish to stake their BTC and deposit LBTC in a vault in the same transaction.

BTC deposit flow

Graph below represents BTC to LBTC flow

graph TD
    user_btc_wallet(User BTC wallet) -.-> btc{{BTC}}
    btc -- deposit --> btc_wallet(Lombard controlled BTC address)
    btc_wallet -. notarization request .-> consortium[Notary Consortium]
    consortium -. notarization result .-> sc[Smart Contracts]
    sc -- mint --> lbtc{{LBTC}}
    lbtc -.-> user_evm_wallet(User EVM wallet)

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BTC redeem flow

Graph below represents LBTC to BTC flow

graph TD
    user_evm_wallet(User EVM wallet) -.-> lbtc{{LBTC}}
    lbtc -- redeem --> sc[Smart Contracts]
    sc -. notarization request .-> consortium[Notary Consortium]
    consortium -. notarization result .-> custody[Custody approvers]
    custody -.-> btc{{BTC}}
    btc --> user_btc_wallet(User BTC wallet)

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One-time setup

Install nodejs. Run node -v to check your installation.

Support Node.js 18.x and higher.

1. Clone this repo:

git clone https://github.com/lombard-finance/evm-smart-contracts.git

2. Install dependencies

yarn

3. Compile smart contracts

yarn hardhat compile

4. Run tests

yarn hardhat test

Deployment

Learn available scripts:

yarn hardhat

• deploy-* - scripts to deploy smart-contracts.
• setup-* - scripts to setup or change configuration of smart-contracts.
• upgrade-proxy - script to upgrade existing proxy with new implementation.

Audit

Find the latest audit reports in docs/audit

Misc

Follow docs in more in-depth study of contracts.