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Documentation Index

Fetch the complete documentation index at: https://docs.areal.finance/llms.txt

Use this file to discover all available pages before exploring further.

UpdateMay 1, 2026

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Overview

The RWT Engine contract page is updated to reflect that the 15% liquidity slice produced by claim_yield no longer lands in a crank-owned RWT ATA. It is now written into the LiquidityHolding PDA RWT account in the Yield Distribution program and reaches the Liquidity Nexus through a single-transaction atomic drain (withdraw_liquidity_holding) that updates the Nexus principal floor in the same instruction. The 70 / 15 / 15 economic split is unchanged. What changes is the staging account and the atomicity guarantee on the RWT-side deposit lane into the Nexus.

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Why change

Previously the 15% slice was deposited into a crank-controlled RWT ATA, and a separate nexus_deposit call moved it into the Nexus. There was a window between the two transactions where the on-chain Nexus balance and total_deposited_rwt could disagree, and where a stalled crank or RPC gap could leave RWT held by the crank wallet rather than the protocol. The new staging path eliminates that window entirely: claim_yield writes directly into a contract-owned PDA (no external keypair), and the drain into the Nexus is a single transaction that bundles the SPL transfer with a CPI to the principal-floor update. The principal-lock invariant nexus_balance(t) ≥ total_deposited(t) therefore holds without any intermediate windows on the RWT lane.

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What changed on the page

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liquidity_destination field

Both occurrences in the page (update_distribution_config instruction Accordion and RwtDistributionConfig state table) now describe the destination as the LiquidityHolding PDA RWT ATA in Yield Distribution, with explicit reference to the withdraw_liquidity_holding atomic drain.

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claim_yield Logic step 5

The description of the liquidity_share calculation now spells out the staging account and the subsequent atomic drain into the Nexus.

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RwtVault.areal_fee_destination — dual-role account-name alias

The state-field row now explicitly documents that the same on-chain Pubkey is referenced under the account name dao_fee_account in mint_rwt, and that the handler validates dao_fee_account.key == vault.areal_fee_destination. This was previously an undocumented Anchor-account-naming convention; making it explicit prevents readers from assuming there are two separate fee accounts.

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Token Flow Summary

The 15% RWT row is updated to reflect the new flow: Vault RWT → LiquidityHolding RWT ATA → Nexus via withdraw_liquidity_holding (single TX, atomic). Caller column updated to Crank → Authority, since the drain is an Authority-gated instruction. A new section links to the Liquidity Nexus architecture page and the Yield Distribution contract.

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Unchanged

  • The 70 / 15 / 15 yield split is unchanged. book_value_bps, liquidity_bps, protocol_revenue_bps defaults remain 7,000 / 1,500 / 1,500.
  • claim_yield instruction signature, the CPI claim against Yield Distribution, and the protocol_revenue_share remainder calculation are unchanged.
  • mint_rwt semantics, the 0.5% mint fee split, and the immutability of areal_fee_destination are unchanged.

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Migration

This is a documentation alignment, not a state migration on a live deployment. Implementations consuming the spec should:
  1. Treat liquidity_destination as a PDA-derived RWT ATA owned by the Yield Distribution program (specifically, the LiquidityHolding PDA’s associated RWT account), not a wallet ATA.
  2. Drive the deposit lane with a single withdraw_liquidity_holding call from Authority, not with a separate nexus_deposit call after claim_yield.