Users & Depositors

Overview

Ocean Finance provides multiple interfaces for users to interact with the protocol, from basic OCUSD minting to advanced staking strategies. The protocol is designed to accommodate different user types and risk preferences.

User Flow Diagram

User Interface Functions

Minting OCUSD

Users interact with the MintingManager to convert collateral assets into OCUSD:

function mint(
    address asset,           // Collateral asset (USDC, USDT, etc.)
    uint256 amount,         // Amount of collateral
    address receiver        // Recipient of OCUSD
) external returns (uint256 ocusdAmount)

Requirements:

  • User must be whitelisted as a minter (or public minting enabled)

  • Asset must be supported by the protocol

  • Contract must not be paused

  • Sufficient asset allowance to MintingManager

Process:

  1. Transfers collateral from user to StrategyAllocator

  2. Gets current asset price from OceanOracle

  3. Calculates OCUSD amount based on collateral value

  4. Mints OCUSD to specified receiver

Permit-Based Minting

For improved UX, users can mint without prior approvals using EIP-2612 permits:

function mintWithPermit(
    address asset,
    uint256 amount,
    address receiver,
    uint256 deadline,
    uint8 v,
    bytes32 r,
    bytes32 s
) external returns (uint256 ocusdAmount)

Staking OCUSD

Users can stake OCUSD in the StakedOCUSD vault to earn additional yield:

Standard ERC4626 Functions

function deposit(uint256 assets, address receiver) external returns (uint256 shares)
function mint(uint256 shares, address receiver) external returns (uint256 assets)
function withdraw(uint256 assets, address receiver, address owner) external returns (uint256 shares)
function redeem(uint256 shares, address receiver, address owner) external returns (uint256 assets)

Cooldown-Based Withdrawals

When cooldown is enabled, users must use the two-step withdrawal process:

// Step 1: Initiate cooldown
function cooldownAssets(uint256 assets) external returns (uint256 shares)
function cooldownShares(uint256 shares) external returns (uint256 assets)

// Step 2: Claim after cooldown period
function unstake(address receiver) external returns (uint256 assets)

Redemption Process

OCUSD redemption uses an asynchronous request-fulfill system for security and liquidity management:

Step 1: Request Redemption

function requestRedeem(
    address asset,          // Desired collateral asset
    uint256 ocusdAmount    // Amount of OCUSD to redeem
) external returns (uint256 requestId)

Process:

  • Transfers OCUSD from user and locks it in contract

  • Creates redemption request with unique ID

  • Emits RedeemRequested event

Step 2: Admin Fulfillment

function fulfillRedeemRequest(uint256 requestId) external onlyServiceRole

Process:

  • Burns locked OCUSD

  • Transfers requested collateral to user

  • Marks request as fulfilled

Cancel Redemption

function cancelRedeemRequest(uint256 requestId) external

Users can cancel unfulfilled requests and recover their locked OCUSD.

User Types and Strategies

1. Basic Users

Profile: Users seeking simple yield exposure Strategy: Mint OCUSD and hold for passive yield Benefits:

  • Auto-compounding yield from diversified strategies

  • No active management required

  • Cross-chain transferability

2. Active Stakers

Profile: Users seeking maximum yield Strategy: Mint OCUSD → Stake in StakedOCUSD Benefits:

  • Base OCUSD yield + additional $OCEAN rewards

  • Compounding from both sources

  • Governance participation (potential future feature)

3. Liquidity Providers

Profile: DeFi users providing protocol liquidity Strategy: Use OCUSD in external AMMs and protocols Benefits:

  • Trading fees from AMM pools

  • Additional incentives from partner protocols

  • Maintained exposure to OCUSD yield

4. Cross-Chain Users

Profile: Multi-chain DeFi participants Strategy: Bridge OCUSD to different chains Benefits:

  • Access to chain-specific yield opportunities

  • Unified yield-bearing asset across ecosystems

  • Reduced bridging complexity

User Experience Optimizations

Gas Efficiency

  • Batch operations where possible

  • Permit-based transactions to eliminate approvals

  • Efficient share calculation in StakedOCUSD

Security Features

  • Cooldown periods for large withdrawals

  • Oracle validation for all pricing

  • Emergency pause mechanisms

  • Comprehensive access controls

Yield Optimization

  • 24-hour yield vesting prevents manipulation

  • Auto-compounding in StakedOCUSD

  • Real-time yield allocation across strategies

  • Transparent fee structure

User Monitoring and Analytics

On-Chain Data

  • Real-time OCUSD balance and yield accrual

  • Staking positions and rewards

  • Redemption request status

  • Transaction history

Key Metrics for Users

  • Current APY across strategies

  • Total Value Locked (TVL)

  • Strategy allocation percentages

  • Fee breakdown and protocol revenue

Risk Indicators

  • Strategy performance metrics

  • Oracle deviation alerts

  • Protocol utilization rates

  • External protocol health scores

Emergency Procedures

Protocol Pauses

  • Minting can be paused by admins

  • Existing positions remain functional

  • Withdrawals and redemptions continue

Strategy Failures

  • Individual strategy handlers can be disabled

  • Funds can be emergency withdrawn to StrategyAllocator

  • Users maintain full OCUSD backing

Oracle Issues

  • Fallback oracle mechanisms

  • Price staleness detection

  • Admin override capabilities for critical situations

This comprehensive user interface ensures that Ocean Finance can serve diverse user needs while maintaining security, efficiency, and transparency throughout all user interactions.

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