Neko Contracts

Multi-chain Real-World Asset (RWA) lending and yield aggregation protocol

Neko Protocol · Ethereum (EVM) · Stellar Soroban

Neko Protocol enables users to deposit tokenized real-world assets (RWAs) as collateral, borrow stablecoins, and earn yield through automated vault strategies. This monorepo contains smart contract implementations for both EVM-compatible chains (Ethereum, Foundry/Solidity) and Stellar Soroban (Cargo/Rust).

Multi-Chain Architecture

┌──────────────────────────────────────────────────────────────────────────────┐
│                              Neko Protocol                                    │
├─────────────────────────────┬────────────────────────────────────────────────┤
│      EVM (Ethereum)         │              Stellar (Soroban)                  │
│                             │                                                  │
│  ┌──────────────────────┐   │   ┌────────────────┐  ┌────────────────┐       │
│  │     LendingPool      │   │   │   rwa-oracle   │  │   rwa-token    │       │
│  │  ┌────────┐ ┌──────┐ │   │   │    (SEP-40)    │  │   (SEP-41)     │       │
│  │  │OToken  │ │Debt  │ │   │   └───────┬────────┘  └───────┬────────┘       │
│  │  │        │ │Token │ │   │           │  prices            │  collateral     │
│  │  └────────┘ └──────┘ │   │           └─────────┬──────────┘                │
│  └───────────┬──────────┘   │                     ▼                           │
│              │              │   ┌────────────────────────────────┐            │
│  ┌───────────▼──────────┐   │   │          rwa-lending           │            │
│  │     PriceOracle      │   │   │  bTokens · dTokens · Backstop  │            │
│  │  (Chainlink / Pyth)  │   │   │  Dutch auctions · AssetType    │            │
│  └───────────┬──────────┘   │   └───────────────┬────────────────┘            │
│              │              │                   │                              │
│  ┌───────────▼──────────┐   │   ┌────────────────────────────────┐            │
│  │       Backstop       │   │   │           rwa-vault             │            │
│  │  (Emergency reserves)│   │   │  vTokens (SEP-41) · NAV        │            │
│  └──────────────────────┘   │   │  Optimizer · Rebalancer · Fees  │            │
│                             │   └──────┬──────────┬──────────┬───┘            │
│                             │          │          │          │                 │
│                             │          ▼          ▼          ▼                 │
│                             │   ┌──────────┐ ┌────────┐ ┌─────────────┐      │
│                             │   │ adapter- │ │adapter-│ │  adapter-   │      │
│                             │   │ rwa-lend │ │ blend  │ │  soroswap   │      │
│                             │   │ IAdapter │ │IAdapter│ │  IAdapter   │      │
│                             │   └──────────┘ └────────┘ └─────────────┘      │
└─────────────────────────────┴────────────────────────────────────────────────┘

Repository Structure

neko-contracts/
├── evm-contracts/
│   └── rwa-lending/            # Foundry — Solidity 0.8.27
│       ├── src/                # LendingPool, Backstop, OToken, DebtToken, Oracles
│       ├── test/               # Forge tests
│       └── script/             # Deployment scripts
└── stellar-contracts/          # Cargo workspace — Soroban SDK 23.0.4, Rust 2024
    ├── rwa-oracle/             # SEP-40 RWA price feeds and metadata
    ├── rwa-token/              # SEP-41 + SEP-57 regulated RWA token
    ├── rwa-lending/            # Blend-based lending with Dutch auctions
    ├── rwa-vault/              # Yield aggregator with NAV and vTokens
    ├── adapter-rwa-lending/    # IAdapter bridge: vault ↔ rwa-lending
    ├── adapter-blend/          # IAdapter bridge: vault ↔ Blend Protocol
    └── adapter-soroswap/       # IAdapter bridge: vault ↔ Soroswap AMM

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EVM Contracts (evm-contracts/rwa-lending/)

A permissionless lending protocol for tokenized RWA assets on Ethereum. Users deposit Ondo/Backed RWA tokens as collateral and borrow stablecoins (USDC, USDT).

Contracts

Contract	Description
LendingPool.sol	Core protocol — collateral management, borrowing, liquidation
Backstop.sol	Emergency reserve for bad debt coverage
OToken.sol	Non-transferable collateral receipt token (ERC20)
DebtToken.sol	Non-transferable debt tracking token (ERC20)
PriceOracle.sol	Chainlink price feed integration
PythPriceOracle.sol	Pyth network price feed integration
CustomPriceOracle.sol	Manual price updates for assets without on-chain feeds

Key features: Chainlink / Pyth oracles · WadRayMath fixed-point math (WAD=18, RAY=27) · ReentrancyGuard · Dynamic interest rates · Emergency liquidation via backstop · OpenZeppelin AccessControl

Quick Start

cd evm-contracts/rwa-lending
bash setup.sh

# Build
forge build

# Test
forge test -vvv

# Gas report
forge test --gas-report

# Deploy
forge script script/Deploy.s.sol --rpc-url $ETH_RPC_URL --broadcast

See evm-contracts/rwa-lending/README.md for full documentation.

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Stellar Contracts (stellar-contracts/)

A composable DeFi stack for RWAs on Stellar Soroban — from oracle price feeds and regulated tokens to a full lending protocol, yield aggregator vault, and protocol adapter.

Contracts

Contract	Description	Standard	Tests
rwa-oracle	RWA price feeds and metadata	SEP-40	27
rwa-token	Regulated fungible RWA token	SEP-41 + SEP-57	16
rwa-lending	Lending, borrowing, Dutch auctions	Blend-based	17
rwa-vault	Yield aggregator with vTokens and NAV	SEP-41	12
adapter-rwa-lending	IAdapter bridge: vault ↔ rwa-lending	IAdapter	5
adapter-blend	IAdapter bridge: vault ↔ Blend Protocol (+ BLND harvest)	IAdapter	5
adapter-soroswap	IAdapter bridge: vault ↔ Soroswap AMM (single-asset LP)	IAdapter	6

Key features: SEP-40/41/57 standards · Dutch auction liquidations · Yield aggregation · Cross-contract auth pattern · Blend V2 3-segment interest rates · AssetType oracle routing · Multi-protocol adapter system (lending + AMM + external pools)

Quick Start

cd stellar-contracts

# Build all
cargo build --workspace --release

# Test all
cargo test --workspace

# Build WASM (dependency order)
cargo build --target wasm32v1-none --release -p rwa-oracle
cargo build --target wasm32v1-none --release -p rwa-lending
cargo build --target wasm32v1-none --release -p adapter-rwa-lending
cargo build --target wasm32v1-none --release -p adapter-blend
cargo build --target wasm32v1-none --release -p adapter-soroswap

See stellar-contracts/README.md for full documentation.

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Shared Protocol Concepts

Both implementations share the same core lending mechanics, adapted to each chain's design patterns:

Concept	EVM	Stellar
Collateral tokens	OTokens (ERC20)	bTokens (12-decimal rate)
Debt tokens	DebtTokens (ERC20)	dTokens (12-decimal rate)
Price feeds	Chainlink / Pyth	SEP-40 (RWA Oracle + Reflector)
Interest model	2-segment piecewise	3-segment piecewise + rate modifier
Liquidation	Direct liquidation (50% cap)	Dutch auction (200 blocks, ~17 min)
Emergency reserve	Backstop contract	Backstop module
Health factor	< 1.0 triggers liquidation	min 1.1 / max 1.15 constraints
Math precision	WAD (18) / RAY (27)	SCALAR_7 (rates) / SCALAR_12 (token rates)

Environment Variables

EVM

PRIVATE_KEY=          # Deployer private key
ETH_RPC_URL=          # Ethereum mainnet RPC
SEPOLIA_RPC_URL=      # Sepolia testnet RPC
ETHERSCAN_API_KEY=    # Contract verification

Tech Stack

Layer	EVM	Stellar
Language	Solidity 0.8.27	Rust (Edition 2024)
Framework	Foundry	Cargo / Soroban SDK 23.0.4
EVM version	Cancun	—
Optimizer	200 runs	opt-level = "z", LTO
Libraries	OpenZeppelin	soroban-sdk

License

MIT

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Built with ❤️ by the Neko Protocol team