> For the complete documentation index, see [llms.txt](https://docs.3jane.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.3jane.xyz/developers/architecture/lcc.md).

# LCC

### Smart contract topology

```mermaid
flowchart TD
    subgraph Roles
        OPS["3Jane operator role"]
        G["Pause guardian"]
        TL["7-day timelock"]
    end

    OPS -->|"creates facilities, opens calls,<br/>risk caps, oracle rotation,<br/>pause / shutdown, staker eligibility"| FAC["LCCVaultFactory<br/>(registry of official facilities)"]
    G -->|"pause only"| FAC
    TL -->|"owns"| BE["Upgradeable beacon"]
    BE -->|"points at"| IMPL["LCCVault implementation"]

    FAC -->|"deploys"| VA
    FAC -->|"deploys"| VB["LCCVault: facility B"]

    subgraph Facility["Per facility"]
        VA["LCCVault: facility A"]
        MO["Margin oracle"]
        MA["Margin asset"]
        VA ---|"prices margin"| MO
        VA ---|"holds"| MA
    end

    VA -.->|"logic"| BE
    VB -.->|"logic"| BE

    subgraph Protocol["Protocol-wide"]
        U["USD3"]
        VV["USD3 cooldown contract<br/>(35-day cooldown)"]
        T["Treasury"]
        U --> VV
    end

    VA -->|"routes funded USDC"| U
    VA -->|"auction fees, residuals"| T
    classDef box fill:#ffffff,stroke:#0D28F5,color:#1a1a1a;
    class OPS,G,TL,FAC,BE,IMPL,VA,VB,MO,MA,U,VV,T box;
```

* **LCCVaultFactory.** Deploys one LCCVault per facility and maintains the registry of official 3Jane facilities. Facility authority is factory-managed: the 3Jane operator role acts on every facility through it, and staker eligibility is managed here. Powers and limits are in the [trust model](#trust-model) below.
* **LCCVault, one per facility.** Holds that facility's terms and staker state: margin custody, capital calls, funding settlement, slash accounting, and the shortfall auction. Each facility is wired to its own margin asset and margin oracle.
* **Shared implementation.** All facilities run one implementation behind a beacon owned by 3Jane's 7-day timelock. Any logic upgrade applies to all facilities and is publicly visible for 7 days before it can execute.
* **Protocol-wide contracts.** USD3, the cooldown contract that enforces the 35-day cooldown on funded USD3, USDC, and the treasury are fixed in the implementation and shared by all facilities; per-facility terms live in each facility's storage.

Only factory-registered contracts are 3Jane facilities; interact only with facilities listed in [Facility Parameters](/levered-callable-capital-lcc/parameters.md) or the factory registry.

### Keeperless

Nothing in LCC depends on a bot or keeper: epoch phases are pure functions of time, and accounting catches up lazily whenever anyone interacts with the facility, in a fixed order (settle any due auction, finalize slashes, fold pending stakes in, fold matured unstakes out). The maintenance functions are permissionless, so anyone can advance a lagging account or settle a slash.

### Trust model

| Party              | Powers                                                                                                | Limits                                                                               |
| ------------------ | ----------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------ |
| **3Jane**          | Opens capital calls (size and timing), tunes risk caps, rotates the margin oracle, pauses, shuts down | Cannot touch margin directly; one call per epoch, capped at the total active promise |
| **Margin oracle**  | Prices margin into USDC terms, driving promise sizing and auction award valuation                     | Fully trusted; a facility is only as sound as its oracle                             |
| **Pause guardian** | Can pause a facility as a circuit breaker                                                             | Cannot unpause and cannot change configuration                                       |
| **Timelock**       | Can upgrade the shared implementation for all facilities                                              | 7-day public delay before execution                                                  |
| **Treasury**       | Receives auction fees and residual sweeps                                                             | No active powers                                                                     |

3Jane is fully trusted in this design: it controls when calls open and for how much. See [Risks](/levered-callable-capital-lcc/risks.md) for the concrete implications.

### For auditors and developers

The full mechanics reference, including the epoch machine, slash accounting, auction pricing math, and invariants, lives in the contracts repository at [`src/lcc/README.md`](https://github.com/3jane-protocol/moneymarket-contracts/blob/d090895bc5a54d394cfae152a8ab182a769695df/src/lcc/README.md). Contract addresses are listed in [Addresses](/developers/addresses.md).