Narok NK (Base)

USDC-backed NK vault on Base mainnet by Narok. Transparent, on-chain NAV with a manager role for external strategies.

Badges: MIT • Solidity 0.8.25 • Base mainnet (chainId 8453) • Public code, open for review
Quick links: Site · Contact · Verified vault address announced on the site

This repository is for transparency and community review. It is not a guide to clone or deploy your own vault. Interact only with the official addresses published by Narok.

What the vault does

• USDC in / NK out: deposits mint NK shares at the live NAV; redemptions burn NK for the corresponding USDC held by the vault (subject to liquidity).
• External exposure tracking: externalNavUsd stores the USDC-equivalent value of off-chain or non-USDC positions. NAV adjustments use setExternalAssetValue, managerSetExternalAssetValue, invest, and divest.
• Manager-controlled capital: the manager can move USDC out (managerWithdrawUSDC) to trade and return it later (managerReturnUSDC) while keeping NAV accurate.
• Admin fee: 2% yearly streamed to adminWallet, accrued per interaction via _accrueFee().
• Safety: OpenZeppelin ERC20 + Ownable + ReentrancyGuard + SafeERC20; address validation on writes; USDC balance checks on withdrawals.

Network and identifiers

• Chain: Base mainnet (chainId 8453)
• Token: NK (decimals: 6, matching USDC)
• USDC on Base: 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913
• Vault address: published on https://narok.finance once deployed/updated. Always verify against official announcements before interacting.

For NK holders

• Deposit USDC via the official Narok interface or call deposit(uint256 assets, address receiver).
• Redeem with redeem(uint256 shares, address receiver, address owner) or request a USDC amount via withdraw(uint256 assets, address receiver, address owner). Withdrawals revert if the vault lacks USDC liquidity.
• Monitor price and NAV through totalAssets(), totalSupply(), and externalNavUsd.
• Events to watch: Deposit, Withdraw, ExternalAssetUpdated, FeeAccrued, ManagerWithdrawUSDC, ManagerReturnUSDC, ManagerInvest, ManagerDivest.

Integrations (other protocols)

Any integrator can:

• Call deposit to mint NK for a beneficiary using USDC.
• Hold NK in their own contracts or treasuries as a yield-bearing, NAV-tracked position.
• Redeem programmatically with withdraw/redeem when liquidity is available.
• Observe NAV updates via events, or read externalNavUsd + totalAssets() for pricing.

Roles and controls

• Owner: sets adminWallet and manager; can set external NAV entries.
• Manager: can move USDC out/in for trading and report NAV changes.
• Admin: receives the streaming fee.
• Liquidity protection: withdrawals revert if USDC in the vault is insufficient; this is deliberate to protect remaining holders.

Transparency notes

• Solidity source: contracts/NKVault.sol. Scripts in scripts/ show how Narok operates (deployment and NAV updates) for auditability, not for public redeploys.
• Secrets are never stored here; .env is git-ignored. .env.example only lists variable names.
• No formal audit is claimed. Independent review and on-chain verification are encouraged.

Verifying the contract

• Compare the vault address published on https://narok.finance with the verified contract on Basescan (Base mainnet).
• The compiled artifact should match this repository’s NKVault.sol. Any source change requires re-verification before trusting a new address.

Contact

• Site and dashboard: https://narok.finance
• Security or bug reports: hello@narok.finance

If you plan to integrate with NK or review the code, feel free to reach out. Public scrutiny and responsible disclosure are welcome.