Status: In progress (not live mainnet UX)
Repos: baofinance/harbor-yield (+ foundation on harbor PR #33)
Product overview: Harbor Yield (hyTOKENS)
Integrator standards: hy / ERC-7575
Harbor Yield is the mid-term yield stack on top of stability pools. Product framing uses three participation levels; this page tracks the contract surface. Authoritative design: doc/design.md on branch multi-asset (checked 2 Nov 2026, 1e9ce4c). main on that repo is an older scaffold. Integrations: doc/integrations.md.
Deposit and rebalance rules (shared with product)
These rules apply at every level that touches a stability pool (or its Compounder):
| Rule | Detail |
|---|
| Mint / acquire | Users can mint haTokens and/or hsTokens, or acquire them via a market |
| Pool deposit (live mainnet v1/v2) | Only haTokens into the collateral or Sail pool → compounding internal balance (no ERC-20 pool share) |
| Pool deposit (SP_v3 / pre-prod) | Same ha-only rule; receive rebasing hp… ERC-20 shares — not live UX yet |
| Compounder deposit | ERC-4626 deposit() takes haXXX (asset() = pegged token). Optional depositStabilityPool wraps an existing pool position — pre-prod |
| Pool yield | Both pools accrue concentrated collateral yield / harvest + revenue share on haToken deposits |
| Rebalance payout | Collateral pool → wrapped collateral (e.g. fxSAVE / wstETH); Sail pool → hsTokens (deposited haTokens are burned). hsTokens do not earn concentrated yield on their own |
Product UX: Harbor Yield. Live pool behaviour: Stability pool.
Three participation levels
This docs site uses product-facing Levels 1–3. The design doc numbers the same stack 0–2. Mapping:
| Product (this site) | Design doc | Component |
|---|
| Level 1 | Level 0 | Raw stability pool |
| Level 2 | Level 1 | Compounder (Compounder_v1, hc…) — ERC-4626 |
| Level 3 | Level 2 | HarborYield / hyTOKEN — ERC-7575 share + doors |
| Level | User flow | Contracts / shares |
|---|
| 1 | Mint/buy ha/hs → deposit haTokens into collateral or Sail stability pool → claim rewards yourself | Live: SP v1/v2 compounding balances. SP_v3 hp… shares = yield branch only |
| 2 | Deposit haXXX via ERC-4626 → hc… | Compounder_v1 per pool |
| 3 | Deposit via ERC-7575 door (wrappedCollateral or equivalent asset) → hyXXX | HarborYield_v1 + HarborYieldEntry_v1 |
- Level 1 (stability pools) is live on Ethereum mainnet. Levels 2 and 3 ship with Harbor Yield.
- Compounder and HarborYield are siblings. Neither holds the other. HY holds collateral-pool positions directly, plus peg-equivalent ERC-4626 vaults.
- One
Compounder_v1 serves both pool kinds. Deploy ships two per market: collateral share hcXXX.COLn and Sail share hcXXX.hsCOLn. The Sail Compounder stays at level 2. HY does not register it (design doc §6.4).
Layer model (contracts)
| Level | Component | Share / asset | Role |
|---|
| 1 | Stability pools (live v1/v2; → v3 on yield branch) | Live: compounding balances. hp… ERC-20 shares = v3-only / pre-prod | Base yield / rebalance; manual claim |
| 2 | Compounder | Non-rebasing ERC-4626 hc…; asset = haXXX | Usable per-pool compounding |
| 3 | HarborYield | ERC-7575 share hy… + per-holding doors | Multi-holding basket; doors reuse ERC-4626 mutations without a separate door ERC-20 |
| — | Harbor Swap | — | Routing support for level 3 (compound / redistribute), not a yield tier |
Foundation contracts (harbor yield branch)
PR #33 widens the data envelope and adds yield-facing hooks on the core stack:
| Contract | Version on branch | Notes |
|---|
| StabilityPool | v3 | ERC-20 pool shares (Solady + EIP-2612); floor clamps; clamp-then-fee withdrawals; still haToken deposits. Views drop the get prefix: earlyWithdrawalFeeRatio(), withdrawalWindow(), feeReceiver(). Live v2 keeps getEarlyWithdrawalFee() / getWithdrawalWindow() |
| StabilityPoolManager | v2 | Calls IYieldVault.compound() after harvest and rebalance. Branch config: rebalance bounty 0.5% and cut 0.5%, ceiling 200× aboutADollar; harvest bounty 0.5%, cut 99.5%. Live v1 is bounty-only at 1% |
| Minter | v3 | MAX_LEVERAGE_RATIO = 100 (minimum CR ≈ 101.01%). A Sail-leg redeem below that floor reverts. Live Minter_v2 cap stays 20× at ≈ 105.3% |
Upgrade path (mainnet)
| Field | Value |
|---|
| Scripts | script/Upgrade_MarketsToV3_mainnet.s.sol, script/UpgradeStabilityPool_v2_v3/ |
| State | Continues to use BaoFactory CREATE3 + harbor_v1.state.json patterns |
| Live status | Treat as pre-production until upgrades are executed |
Level 2 / 3 product contracts (harbor-yield)
| Contract | Standard | Role |
|---|
Compounder_v1 | ERC-4626 | One pool per deployment (collateral or Sail). compound() converts pending wrapped collateral into more of that pool. Extra rewards, including hs on a Sail pool, stay on claim() |
HarborYield_v1 | ERC-7575 share (+ ERC-20) | Peg basket; holds pools directly + equivalent vaults; vault(asset), redeemProportional, compound |
HarborYieldEntry_v1 | ERC-7575 vault (ERC-4626 minus ERC-20) | One door per holding; share() → hyXXX; door asset = wrappedCollateral or equivalent asset |
WstETH_ERC4626_v1 | ERC-4626 adapter | Thin wrap so non-vault yield sources can be HY holdings |
| Field | Value |
|---|
Collateral Compounder compound() | Claims wCOLn (harvest and rebalance) → mint ha when the fee cap allows → redeposit |
Sail Compounder compound() | Same function, harvest wCOLn only. hs rebalance receipts stay per-holder and are taken with claim() |
HY compound() | Prices destinations it can read, end to end (swap + take); cheapest wins; water-fills. An unpriceable source pool sits the pass out with its yield still claimable. An unpriceable destination drops out of the round (1e9ce4c) |
| hy entry/exit | ERC-7575 doors — not a single ERC-4626 asset() on hyXXX |
| Harbor Swap use | Direct routes on the hot path (minAmountOut, whole order). Velora (primary, on harbor-swap main) / 1inch (optional) on redistribute |
| Early-withdrawal fee (branch config) | ConfigStabilityPool returns 5% (5e16), 1 hour delay, 25 hour window. Live main config is 1%. The v3 upgrade applies the branch figure |
Deploy phasing still tracks Swap’s consumer/yield vault phase after Minter_v3 / SP_v3 / oracles / swap registry.
See also