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Pre-Deposits

Status Network runs a pre-deposit campaign to bootstrap liquidity and early Karma distribution ahead of mainnet. Two distinct vault systems power the campaign:

Asset(s)Vault providerReceipt tokenNetwork
SNT, LINEA, ETHAragonYesEthereum / Linea
USDT, USDC, USDS (β†’GUSD)Generic ProtocolNoEthereum

This page explains the technical architecture behind each system.

Aragon Vaults (SNT Β· LINEA Β· ETH)​

Overview​

The SNT, LINEA, and ETH vaults are smart contracts developed by Aragon specifically for Status Network. The source code is publicly available:

Each vault is an implementation of ERC-4626 interface that:

  1. Accepts deposits of a single underlying asset (SNT, LINEA, or WETH).
  2. Mints a vault share token (svSNT, svLINEA, or svWETH) upon deposit, representing the depositor's pro-rata claim.
  3. Holds deposited assets until mainnet launch, at which point admin bridges them to Status Network L2.

Yield strategy (ETH)​

Deposited ETH is staked via Lido to earn staking yield. A portion of the generated yield seeds Status Network's native funding pool at launch.

Deployed contracts​

See Pre-Deposit Vault Contracts for a full list of addresses and networks.

Generic Protocol Vault (GUSD)​

GUSD is a yield-generating meta-stablecoin fully backed by USDT, USDC, and USDS, built by Generic Protocol. The GUSD infrastructure is maintained by Generic Protocol, and Status Network integrates with it via its DepositorHelper contract.

Yield strategy (stablecoins)​

The GUSD vault implements a multi-layered yield strategy through Steakhouse Financial and Morpho:

  1. Deposited stablecoins are routed to Generic Protocol's asset-specific vaults (e.g., USDC Vault).
  2. The vault allocates assets to Steakhouse Financial MetaMorpho vaults (e.g., steakUSDC).
  3. Steakhouse vaults supply assets to Morpho lending markets, earning lending yield.

A portion of the generated yield will seed Status Network's native funding pool upon mainnet launch.

note

The GUSD vault does not issue a receipt token. Your deposit is recorded in Generic Protocol's contracts; you can verify your position by connecting your wallet on Hub or directly on-chain.

DepositorHelper contract​

Status Network pre-deposit interacts with Generic Protocol through the DepositorHelper: 0x79B4cDb14A31E8B0e21C0120C409Ac14Af35f919

Deposit flow (GUSD)​

When a user deposits USDC, USDT or USDS, the following on-chain operations occur:

  1. Approve the DepositorHelper to spend your stablecoin.
  2. Call depositAndPredeposit on the DepositorHelper, specifying asset and amount.
  3. The stablecoin is transferred to the DepositorHelper.
  4. GenericUnit shares are minted to the DepositorHelper, representing the depositor's claim on the underlying stablecoin.
  5. The DepositorHelper deposits the stablecoin into the corresponding Generic Protocol asset vault (USDC Vault, USDT Vault, or USDS Vault).
  6. The asset vault allocates to Steakhouse Financial MetaMorpho vaults, which supply assets to Morpho lending markets.
  7. The Bridge Coordinator L1 emits a Predeposited event, recording the pre-deposit for Status Network mainnet.
  8. At mainnet launch, your deposit entitles you to GUSD on Status Network plus Karma, SNT & LINEA incentives, Generic Protocol points and potential native app points.

For a full overview of the Generic Protocol structure (GUSD tokenomics, bridging infrastructure, etc.), see Generic Protocol documentation.

Incentives and Karma​

Pre-depositors earn:

  • Karma: non-transferable governance token; grants gasless throughput and voting power (details in Karmic Tokenomics).
  • Liquid incentives: 15M SNT and 20M LINEA tokens distributed across vaults.
  • Generic protocol points for stablecoin depositors: Generic Protocol points to be used when Generic Protocol launches on Status Network Mainnet.
  • Native app points: to be confirmed as natives apps unveil their tokenomics.

Allocation depends on:

  • Time in vault
  • Vault TVL

Initial Karma distribution at mainnet launch:

Vault% of initial Karma
SNT25%
LINEA10%
ETH20%
GUSD20%

Native apps receive 25% of the initial Karma at mainnet launch.

Security​

  • Aragon vaults: audited; report available in the repo's audit/ folder.
  • Generic Protocol: audited; refer to its documentation on its security disclosures and report details.

Risks and considerations​

Depositing into any vault involves smart contract risk, bridging risk, market risk, and protocol risk associated with any underlying yield strategy. Only deposit amounts you can afford to lock for the duration of the campaign.

Before participating, please read the Status Network Pre-Deposit Disclaimer.

This documentation is for informational purposes and does not constitute financial advice.

Further reading​