Plaza has a predeposit period that allows whitelisted liquid staking and restaking tokens (LSTs/LRTs) to be deposited to seed the initial pool with liquidity. These are pooled together during a predeposit period with a predefined end date. Once the predeposit phase ends, a pool is created using the deposited assets. Derivatives—bondETH and levETH—are minted and sent back to the pool, where they are available for users to claim in proportion to their original deposits.

The whitelisted predeposit assets are the following:

Predeposit Flow (Pre-launch)

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  1. User Deposits: Users begin by depositing whitelisted ETH assets, which can be either LSTs or LRTs, into the predeposit contract. These assets are collected during the predeposit period. The user’s deposits are tracked and stored in the contract, ready to be used once the predeposit period ends.
  2. Predeposit Period Ends: When the predeposit period concludes, the predeposit contract automatically creates a new pool using the PoolFactory. All the capital deposited by users is transferred into the pool, effectively seeding it with the required liquidity.
  3. Pool Created and Seeded: The PoolFactory initializes the pool, setting up the correct structure to hold the assets. The deposited LSTs and LRTs are transferred into this newly created pool.
  4. Minting of Derivatives: Once the pool is established, bondETH and levETH are minted and sent back into the pool. These derivatives represent the claimable assets that users will receive in exchange for their original deposits.
  5. User Claims: After the pool is fully set up and the derivatives are minted, users can claim their bondETH and levETH tokens. The amount they receive is directly proportional to the amount they originally deposited during the predeposit phase. The claim process ensures that each user receives the correct share of the derivatives based on their contribution to the pool.