Solvers (V2)
What are Solvers?
Solvers are a new, improved framework for building Haiko Vaults. They take the best parts of Strategies (i.e. convenience, 1-click automation) and make them simpler, more powerful, and less error-prone.
Solver Vaults introduce new features such as:
Zero cost rebalancing: rebuilt from the ground up with a new architecture, Solvers are now stateless and can be rebalanced without any on-chain position updates, at zero gas cost to both swappers and LPs
Impermanent Loss caps: pools can apply a hard cap on impermanent loss by rejecting swaps that bring the pool above its maximum allowed level portfolio skew
Private Vaults: liquidity providers can now create Private Vaults that are closed to third party depositors and offer greater flexibility over deposit / withdrawals and other admin actions, enabling new use cases such as protocol-owned or liquidity bootstrapping pools
Pool-level governance: pool ownership is now tracked via an ERC20 token, enabling micro-governance amongst pool depositors to better optimise pool parameters
The first Replicating Solver is now live on Sepolia testnet. It is audited by Nethermind and will be released on mainnet soon.
What is the difference between Solvers and Strategies?
Whereas Strategies place and update liquidity positions on Haiko's AMM, Solvers are stateless, meaning they never mint any liquidity positions or interact with any AMM.
Instead, traders swap directly against liquidity deposited to Solver contracts. Swap quotes are generated on the fly based on an oracle price feed and a set of market configurations.
By using a stateless architecture, Solvers are:
More gas efficient for LPs and swappers, as they avoid the gas cost of on-chain position storage and rebalancing
Less error-prone, as they do not require synchronising with external AMM state
More flexible, as they can be used to create markets based on any pricing formula, not just those adopting Uniswap-style liquidity
There are also some technical differences between AMM markets and Solver markets.
| Feature | AMM / Strategy | Solver |
|---|---|---|
Swap fees | Fixed swap fee rate per market | Agnostic to fee formula, can charge a swap fee, add a dynamic spread on swap quotes, or use another fee formula |
Tick width | Fixed tick width per market | Can accomodate any tick width |
Price | Stores current price | Stateless, does not need to store current price |
Rebalancing | Uses swap hooks for rebalancing | Constantly rebalanced, as positions are calculated on the fly at the point of swap |
What Vaults are available?
The Replicating Solver is the first Solver available for the following pairs: ETH/USDC, STRK/USDC, STRK/ETH, wstETH/ETH, ETH/WBTC.
We are also working on the second Reversion Solver in partnership with Giza.
| Strategy | Status | Description | Pairs | Link |
|---|---|---|---|---|
Replicating Solver | Live (Sepolia) | Market-neutral vault offering zero cost rebalancing and principal protection with impermanent loss caps | STRK-ETH STRK-USDC ETH-USDC | |
Reversion Solver | Development | Trend-based strategy that automatically follows the price of an asset and captures fees on trend reversion | - |
How do I migrate my liquidity to Solvers from Strategies?
Migrating your liquidity is simple:
Withdraw from existing Strategy Vaults
Deposit to the corresponding Solver Vault (we will be listing all of the same pairs, apart from USDC/USDT which will be deprecated going forward, as it is better suited to static liquidity positions)
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