Shadow Arena #010: Tokemak v2

Tokemak v2 is a sibling-architecture vault system. LMPVault (Autopilot Vault) sits in front of multiple DestinationVaults, each wrapping a Curve, Balancer, or Maverick LP position. The accounting model splits totalIdle and totalDebt, runs a permissionless updateDebtReporting cycle to value LP positions via oracles, and mints management/performance fees as new shares. This is not a Yearn V2 fork. It re-derives many of the same patterns Yearn uses (debt reporting, locked-profit smoothing, fee-as-share-mint), and re-derives some of the same bugs.

Scope (3700 SLOC)

File	SLOC	Description
src/vault/LMPVault.sol	600	Autopilot Vault: ERC4626 entry, totalIdle/totalDebt accounting, updateDebtReporting cycle, fee minting, withdraw queue logic
src/vault/DestinationVault.sol	400	Per-destination vault wrapping a single LP position. Tracks debt, harvests rewards, exposes debtValue() for the parent LMPVault
src/vault/LMPVaultRouter.sol	300	Router for batched user operations across LMPVaults (deposit, withdraw, mint, redeem) with permit support
src/destinations/	800	Destination adapters for Curve, Balancer, and Maverick. Handle add/remove liquidity and underlying token accounting
src/oracles/	500	Chainlink, Tellor, and per-DEX LP oracles (CurveV1StableEthOracle, BalancerLPMetaStableEthOracle, etc.) used to value DV positions during debt reporting
src/rewarders/	300	MainRewarder and ExtraRewarder distributing TOKE and partner emissions to LP stakers
src/strategy/	400	LMPStrategy logic: rebalance validation, slippage checks, swap cost vs reward delta scoring
src/liquidation/	250	LiquidationRow + AsyncSwapperRegistry: collects DV reward tokens and swaps to base asset on a schedule
src/SystemRegistry.sol	150	Top-level registry wiring LMPVaults, destinations, oracles, rewarders, and access controllers together

Documentation

Source Code Protocol Docs

Part of the Yearn V2 Path

This shadow audit connects to the Yearn V2 Build module. Students who completed the vault-strategy build have an advantage because they understand locked-profit reporting, gain/loss accounting, and strategy chains.

View Build Module

Duration7 days

Total Findings6

Scope3700 SLOC

PriceFree