Deposit

Deposits move LST from EigenLayer into an Aleph Vault. The Operator initiates the deposit, the AVS handles redistribution, and the restaker receives alETH representing their Vault position.

Flow

1. Operator calls allocate() on the AVS with target Vault and amount

2. AVS redistributes LST from Operator's EigenLayer delegation to the Vault

3. Vault mints shares at current NAV

4. AVS mints equivalent alETH

5. alETH is submitted to EigenLayer's RewardsCoordinator for restaker claims

The entire sequence executes atomically in a single transaction.

All deposits are processed instantly, meaning the LST is converted into a alETH position within a single block transaction.

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Execution Sequence

The Operator calls AlephAVS.allocate(Vault, requestDepositParams)

The following steps are executed atomically within the single transaction initiated by the Operator. Any failure at any point will revert the entire transaction.

1. Allocation

Operator calls AlephAVS.allocate() with vault address and deposit parameters.

The AVS performs critical safety checks and confirms that the Vault's latest NAV is valid and has not expired (is not stale). The transaction will revert if the NAV is expired, protecting the Operator from depositing at an inaccurate price.

2. Redistribution

The AVS uses EigenLayer's redistribution mechanism to move LST from the Operator's delegation into the Vault. This isn't punitive - it's a controlled reallocation that transfers assets while preserving the underlying security delegation.

The Aleph AVS calls the StrategyManager's clearBurnOrRedistributableShares() function, which releases the LST to the AVS contract. The LST is securely transferred to the target vault contract without requiring any manual withdrawal.

3. Deposit into Vault

The AVS immediately deposits the LST into the selected Vault and receives the corresponding shares.

Vault Deposit

The AVS calls vault.syncDeposit(stETH Amount)

IERC20(vaultToken).approve(vault, tokenAmount);
uint256 shares = IAlephVaultDeposit(vault).syncDeposit(adjustedParams);

Share calculation

Shares are minted at the exchange rate between LST and Vault Shares.

Shares Minted = LST Amount / NAV per Share

Share Minting

The Vault mints the shares and credits them to Aleph registry on its ledger. For example, If NAV per share is 1.05 and the Operator deposits 100 stETH, the Vault mints approximately 95.24 shares.

4. Mint alETH

The Aleph AVS mints an equivalent quantity of alETH proportional to the Shares minted. This alETH token represents the Restaker fractional ownership of the Vault Shares.

IMintableBurnableERC20(slashedToken).mint(address(this), vaultShares);

The alETH token is specific to the asset and Vault - for example, alstETH-edge for stETH deposited into the Edge vault.

5. Immediate Submission

After minting, the AVS submits alETH to EigenLayer's RewardsCoordinator:

rewardsCoordinator.createOperatorDirectedAVSRewardsSubmission(avsAddress, rewardsSubmissions);

This ensures restakers can promptly claim the alETH tokens via EigenLayer's standard claim flow.

Restakers claim their alETH through EigenLayer's standard rewards flow, proportional to their delegation at the time of allocation.

The submission uses a retroactive window (2 calculation intervals back) to ensure fair distribution based on delegation state when the deposit occurred.

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Parameters

struct RequestDepositParams {
    uint8 classId;
    uint256 amount;
    AuthLibrary.AuthSignature authSignature;
}

• classId: Which share class to deposit into

• amount: LST amount to deposit

• authSignature: Authorization signature for the deposit

Events

event AllocatedToAlephVault(
    address indexed operator,
    address indexed alephVault,
    address originalStrategy,
    address slashedStrategy,
    uint256 amount,
    uint256 vaultShares,
    uint8 classId
)