Lending / Yield·Arbitrum · Optimism · EVM
Kresko
Non-custodial synthetic-asset protocol on EVM (Diamond/EIP-2535 architecture). Users deposit collateral (KISS, USDC, ETH, BTC, LSTs) into the Kresko Protocol and mint Kresko Assets (krAssets) — synthetic derivatives tracking external prices (krETH, krBTC, krTSLA, krGOLD, krEUR, etc.) priced via an on-demand + push oracle blend.
- 01synthetic equity / commodity / FX exposure on-chain
- 02minting krAssets (e.g. krBTC, krTSLA, krGOLD) against crypto collateral
- 03leveraged synthetic positions without a centralized issuer
- 04DeFi composability of synthetic tracker tokens
- pnpm add viem
| Variable | Scope | Description |
|---|---|---|
| NEXT_PUBLIC_KRESKO_DIAMOND | Client | Kresko Protocol Diamond contract (EIP-2535) — single entry point for all deposit/mint/burn/withdraw facets on the target chain. |
| NEXT_PUBLIC_KRESKO_KISS | Client | KISS — Kresko's overcollateralized stablecoin used as the canonical collateral and quote asset. |
Use Kresko for synthetic-asset exposure. The protocol is a single Diamond (EIP-2535) — every action goes through facets on one address. Flow: `IERC20(collateral).approve(diamond, amount); IKresko(diamond).depositCollateral(account, collateralAsset, amount)`, then `IKresko(diamond).mintKreskoAsset(account, krAsset, amount, receiver)` to mint the synthetic. Each krAsset has a Minimum Collateralization Ratio (MCR, typically 150%+); the global Liquidation Threshold (LT) is enforced across the account's full debt/collateral. Burn with `burnKreskoAsset(...)` to repay, then `withdrawCollateral(...)`. Kresko Assets are rebase-aware (positive/negative index) so balances reflect stock splits and similar corporate actions automatically. Prices are fed via Pyth/Chainlink/RedStone with on-demand updates submitted in the same tx for fresh-price actions — always include the latest price update bytes when minting/burning rebase-sensitive krAssets.
- ⚑krAssets are NOT recognized securities — minting tracker tokens for stocks (krTSLA, krAAPL) is jurisdiction-restricted; geofence US persons and surface the legal disclaimer.
- ⚑Liquidations are global at the account level — adding a leveraged krAsset position can liquidate unrelated krAsset debt under the same account if the LT is breached; show consolidated health, not per-position health.
- ⚑Oracles are mixed push (Chainlink/RedStone) + on-demand (Pyth) — for on-demand updates the user must submit a fresh price in the same transaction, otherwise the action reverts on staleness.
- ⚑krAssets can rebase down (negative index) on stock-split or governance action — naive UIs that cache balances or use prior `balanceOf` for transfer amounts will under/over-spend.
- ⚑KISS is itself overcollateralized but its peg depends on protocol arbitrage and Curve-style pools; in 2023-2025 several similar synthetic-stables de-pegged briefly under stress — surface the peg explicitly.
- ⚑The org's GitHub is marked '(Shutdown)' style and the original prototype repo is archived; verify which deployment is live (Arbitrum / Optimism) and which Diamond address is current before integrating.
- ⚑Synthetic equity tracker prices use external feeds with TradFi market hours — outside trading hours krStock prices freeze and arbitrage cannot close mispricing; warn users about the freeze window.