FraxNetDepositFactory

Overview

FraxNetDepositFactory is a factory smart contract used to deploy FraxNetDeposit contracts in a deterministic and gas-efficient manner. It integrates with external services like LayerZero (for cross-chain messaging), Circle's CCTP (for USDC transfer), and the Frax RWA custodian system.

This contract serves as the implementation for an EIP-1967 (opens in a new tab) Transparent Proxy.

Key Features

Beacon Proxy-based deployment, for child contracts
Deterministic contract creation with CREATE2
Cross-chain setup using LayerZero and Circle CCTP
Dual-path redemption (Custodian or RWA)

Initialization

The factory must be initialized once by calling the initialize(...) function with the following parameters:

function initialize(
    IFrxUSDCustodian _frxUSDCustodian,
    IRemoteHop _remoteHop,
    address _cctpTokenMessenger,
    IRWAUSDCRedeemer _rwaUsdcRedeemer
) external;

This sets up dependencies and deploys the implementation contract for cloning.

Public Variables

Name	Type	Description
`wasInitialized`	`bool`	Ensures factory is initialized only once
`frxUSDCustodian`	`IFrxUSDCustodian`	Contract that mints frxUSD
`remoteHop`	`IRemoteHop`	Cross-chain communication interface
`fraxNetDepositContracts`	`FraxNetDeposit[]`	All deployed contracts
`isFraxNetDeposit`	`mapping(address => bool)`	Verifies FraxNetDeposit contract
`operators`	`mapping(address => bool)`	Authorized operator accounts
`rwaRedeemer`	`IRWAUSDCRedeemer`	RWA-based USDC redemption pathway
`cctpTokenMessenger`	`address`	Circle CCTP token messenger address
`eidToCCTPDomain`	`mapping(uint32 => uint32)`	L0 EID to CCTP domain mapping
`rwaRedemptionThreshold`	`uint256`	Redemption threshold for using RWA
`beaconContract`	`FraxBeacon`	Beacon for `FraxNetDeposit` proxy logic

Events

Name	Description
`FraxNetDepositCreated`	Emitted when a new deposit contract is deployed
`FrxUSDCustodianSet`	Emitted on custodian address update
`RemoteHopSet`	Emitted on remote hop update
`OperatorSet`	Emitted on operator permission change
`RwaRedemptionThresholdSet`	Emitted on redemption threshold update
`CCTPTokenMessengerSet`	Emitted on messenger update
`RwaRedeemerSet`	Emitted on redeemer update
`LayerZeroEidToCCTPDomainSet`	Emitted on EID-to-domain mapping change

Functions

Deployment

function createFraxNetDeposit(uint32 _targetEid, bytes32 _targetAddress) external returns (FraxNetDeposit);

Deploys a new FraxNetDeposit contract to a specific LayerZero destination.

function getDeploymentAddress(uint32 _targetEid, bytes32 _targetAddress) external view returns (address);

Predicts the deployment address of a future contract.

Configuration

function setFrxUSDCustodian(IFrxUSDCustodian _frxUSDCustodian) external onlyOwner;
function setRemoteHop(IRemoteHop _remoteHop) external onlyOwner;
function setOperator(address operator, bool isOp) external onlyOwner;
function setRwaRedemptionThreshold(uint256 newThreshold) external onlyOwner;
function setRwaRedeemer(IRWAUSDCRedeemer newRwaRedeemer) external onlyOwner;
function setCCTPTokenMessenger(address newTokenMessenger) external onlyOwner;
function setEidToCCTPDomain(uint32 _eid, uint32 _cctpDomain) external onlyOwner;

Admin functions to update contract dependencies and behavior.

Queries

function fraxNetDepositContractsLength() external view returns (uint256);
function getCustodianAndHop() external view returns (IFrxUSDCustodian, IRemoteHop);
function isOperator(address operator) external view returns (bool);

Useful queries for state inspection.

Emergency Recovery

function recoverERC20(
    address tokenAddress,
    uint256 tokenAmount,
    FraxNetDeposit fraxNetDepositContract,
    address recipient
) external onlyOwner;

Allows the owner to recover tokens stuck in a FraxNetDeposit contract.

Errors

Name	Description
`Create2Failed()`	Thrown when CREATE2 deployment fails
`AlreadyInitialized()`	Thrown on double initialization attempt

Deployment Behavior

FraxNetDeposit contracts are deployed using the CREATE2 opcode with the salt:

keccak256(abi.encode(_targetEid, _targetAddress))

This ensures deterministic address generation per target chain and address.

Dependencies

FraxNetDeposit: Proxy child contract
FraxBeacon: Beacon controlling logic
LayerZero + CCTP + RWA ecosystem interfaces

Notes

The factory is Ownable and uses OpenZeppelin's Ownable2Step for ownership transfer
Redemptions can be routed via RWA or the standard custodian based on thresholds
L0 EIDs and CCTP domains must match the same chain

Author: Frax Finance License: AGPL-3.0-only

Proxy Architecture Fraxnet Deposit