Geode Finance
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Key Concepts

Learn the very foundation of Geode Finance

Contract Owned Staking Derivatives

A Staking Derivative that is controlled and maintained by Smart Contracts rather than individuals or a group of people who has access to underlying funds. This classification can include both centralized and decentralized infrastructure providers.

G-Derivatives (NFTs)

Geode-hosted Staking Derivatives.
Chain-specific unupgradable ERC1155 contracts. Every id represents a different derivative. Used to store the necessary data -such as user balances and oracle prices- for all Staking Pools hosted by Geode.

Currently, gETH and gAVAX are the only g-derivatives.

PricePerShare

Represents the latest oracle price that is reported by Telescope, Geode's Internal Price Oracle for staked tokens.

ERC1155Interfaces

Special contracts specific to the one id of a g-derivative allowing underlying data to be used in a correct context. For example, an ERC1155Interface can allow one specific ID to act like an ERC20.

Protocol Owned Staking Derivatives

One of many types of the G-Derivatives that Geode hosts. It is deployed, owned and maintained by a governance token or an algorithm rather than an individual. Uses Dynamic Staking Pools.

Planets: Dynamic Staking Pools

A Staking Pool that utilizes Dynamic Withdrawals instead of Withdrawal Queues, benefiting from a healthier price peg and instant withdrawals. Permissionless to use but requires Senate's permission to create.

Private Liquid Staking Derivatives

One of many types of the G-Derivatives. It is deployed, owned and maintained by an individual or a centralized entity that desires to control their own risk. Uses Static Staking Pools.

Comets: Static Staking Pools

A Staking Pool that utilizes Traditional Withdrawal Queues, benefiting from an isolated pool and minimized risks. Permissionless to create but only the owner(maintainer) can use.

Portal

A Smart Contract that contains most of the functionality that Geode Finance provides. Allows Dynamic and Static Staking Pools to be created and maintained easily.
Provides a free market between Staking Pools and Node Operators.

Global Trustlessness

Securing an infrastructure as a whole, rather than individual components. Mostly, defined based on the upgradability of the smart contracts and/or range of motion of a Decentralized Governance.

Limited Upgradability

Geode Finance cannot upgrade the source code of our infrastructure contracts without the approval of their users. This creates a more secure implementation and prevents any harmful events that can be caused by a Governance Token, thus removes the trust between users and the developers.

Senate

Controlling the state of Governance, consisting of Planets in the Geode Universe who collectively can veto malicious Governance proposals that are passed.
Senate is periodically elected by the controllers of Planets.
The Brain of the Geode Universe.

Local Trustlessness

Securing the individual pieces of an infrastructure with the help of Trustless implementations. Mostly referring to a piece that the Governance has no power on, such as mini-Governances.

Isolated Storage

Portal uses ID based data storage to allow anyone to create an isolated, risk-free staking pool without mixing their funds with others.

Controller and Maintainer

Thanks to separation between the Controller and Maintainer of an ID, Staking Pools can work with individuals to increase their Staking Pool's upside.
Any Staking Pool or Node Operator has a Controller that chooses the maintainer. In case of Protocol Owned Staking Pools, this can be a governance token.
They also have a maintainer, who has done frequent operations such as validator creation or parameter changes.

MiniGovernances

A smart contract that is specific to a given Staking Pool. It is used as a withdrawal credential during the creation of validators.
Thus, Geode ensures that even in case of a failure on Portal, Staking Pools can exit without any harm.

Dynamic Withdrawals and DWPs

Peg

Ratio of oracle price to market prices. Should be 1:1 when a derivative is healthy.

Debt

A Withdrawal Pool parameter. Amount of tokens (Ether/Avax) that needs to be unstaked and burned to heal the price of a Staking Pool.

Surplus

A Staking Pool parameter. Amount of tokens (Ether/Avax) that is waiting within the Pool to be staked.

WithdrawalBoost

A percentage of arbitrage profit that will be shared with the Node Operator of the Validator which has exited.
Normally, this yield goes towards to the holders of the given Staking Derivative. However, it can be used to encourage Node Operators to move funds to restore a staking derivatives peg during a de-peg event.

Telescope

An Oracle that is specifically implemented to keep track of the price of various g-Derivative tokens in a decentralized manner.
  • Distributing the Yield
  • Regulating the Market
The Eyes of the Geode Planets.