Citadel (CTDL) Token:

The base token of the system, an upgradeable ERC20 token that is minted according to the supply schedule.

xCitadel Vault:

A staked CTDL position that increases in value automatically as emission rewards are distributed by the project.

The code is a fork of badger vaults 1.5 with no strategy which allows users to deposit CTDL token and receive xCTDL token.

Each xCTDL is worth a certain amount of CTDL using the pricePerShare() mechanic. CTDL is "auto-compounded" into the vault to increase the value of each xCTDL token.

Withdrawing from the vault has a 21 day exit vesting period.

Vested Exit

Upon withdraw from xCitadel vault CTDL tokens are sent to vesting contract wherein they are vested linearly for 21 days. Users are welcome to partially withdraw vested balances as desired.

Each user can only have one vested exit active at a time. A second withdrawal during that vesting timeframe resets the timer to 21 days.

xCitadelLocker:

Allows locking of xCTDL token for 21 weeks based upon the convex locker model.

Some resources on locking:

• Primer on convex locking
• Convex locking UI

Locking allows users to earn governance rights and claimable xCTDL rewards.

Modifications made to convex locker:

• locker made upgradeable
• staking contract is disabled so all the xCTDL token would remain in the locker
• addRewards modified to allow distribution of staking token too
• kickRewardPerEpoch removed from function _processExpiredLocks to disable giving of kick rewards

CTDL Token Distribution:

The SupplySchedule contract defines the rate at which CTDL minting can occur. It is set by epoch by policy governance.

Minting process originiates via a call to the CTDLMinter. It's distributed between funding pools, stakers, and lockers according to logic which is in the works.

In the live system, policy governance will call CTDLMinter.mintAndDistribute(treasury, marketcap, % CTDL staked, % CTDL locked)

Temporarily, this function takes in the amounts to mint directly until that logic is ironed out: CTDLMinter.mintAndDistribute(amountToFunding, amountToStakers, amountToLockers)

• CTDL is minted determinstically according to Epoch data and an update can happen at any time from the policy governance. This means the desired interval between mint updates can be modulated seamlessly.

CTDLMinter:

Some notes on the mintAndDistribute() function:

• Disallow minting if there is no epoch for some part of the time range covered since last mint
• CTDL is minted according to Epoch data. Start from last mint.
• Disallow minting if there is no epoch for some part of the time range covered since last mint

How rewards are distributed:

• CTDL for stakers is injected into xCTDL to increase ppfs
• CTDL for funding pool is deposited into xCTDL, and sent to funding pool management for use in funding
• CTDL for lockers is deposited into xCTDL and transferred to locking contract. The rewards rate for Lockers is modified.