Saffron is a peer-to-peer interest risk adjustment protocol. Underlying yield is transformed by a smart contract system according to users' indicated risk. The current implementation is a fixed yield layer on top of Uniswap V3 pools.

Fixed side: provides token0 and token1 to mint a Uniswap V3 position. Receives a guaranteed premium upfront. One depositor per vault. Variable side: pays the premium in exchange for all trading fees generated during the vault's duration. Multiple depositors share yield proportionally.

The factory owner controls protocol-level settings but cannot access user funds or modify deployed vaults. Cannot modify or upgrade deployed vaults. Cannot access or withdraw user funds. Cannot renounce ownership. Ownership transfers use Ownable2Step. Users control their funds trustlessly.

A typical vault lifecycle: Phase 0 — createAdapter() · createVault() · initializeVault() Phase 1 — vault.deposit(FIXED) · vault.deposit(VARIABLE) Phase 2 — vault starts automatically once both sides reach capacity Phase 3 — vault.claim(); no withdrawals until maturity Phase 4 — vault.withdraw(...) after settleEarnings() Once both sides reach capacity, the vault starts.

9 audits as of December 19th, 2025. The 5 most recent are based on the same release commit — the hash scheduled for the upcoming Saffron Vaults release. $250K bounty committed at V2 launch. No admin keys to user funds. No upgrades that touch deployed vaults. Onchain since 2020.