> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rampartlabs.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Mellow Finance

> vshMON restaking vault - yield-optimized wrapper over FastLane's shMON

<Info>
  **TVL:** \~\$19M | **Type:** Restaking Vault | **Docs:** [mellow.finance](https://mellow.finance)
</Info>

## Overview

Mellow Finance deploys modular ERC4626-compatible vaults that hold underlying LSTs and apply additional yield strategies on top. On Monad, the primary Mellow vault holds **shMON** (FastLane's liquid staking token) and issues **vshMON** to depositors.

vshMON earns both the base shMON staking APR (\~6.5%) plus Mellow's on-top yield layer, resulting in the highest combined APR in the Monad LST ecosystem (\~9%). The `VaultFactory` contract is used to enumerate all deployed Mellow vaults on Monad.

## Types

```typescript theme={null}
type MellowVault = {
  address: `0x${string}`
  underlying: `0x${string}`   // shMON or other LST
  totalAssets: bigint
  exchangeRate: number         // vshMON per 1 underlying token
  apy: number                  // e.g. 0.09 = 9%
  protocol: 'mellow'
}
```

## Functions

### getMellowVaults()

Returns all Mellow vaults deployed on Monad by iterating the `VaultFactory`.

```typescript theme={null}
import { Rampart } from 'rampart-monad'

const sdk = new Rampart()
const vaults = await sdk.getMellowVaults()
// → MellowVault[]

vaults.forEach(v => {
  console.log(`${v.address}: APY ${(v.apy * 100).toFixed(2)}%`)
})
```

### getMellowAPY(vaultAddress)

Returns the current APY for a specific Mellow vault. APY is derived from the vault's exchange rate delta over the last 500k blocks.

```typescript theme={null}
const apy = await sdk.getMellowAPY('0x...')
// → number, e.g. 0.09

console.log(`Vault APY: ${(apy * 100).toFixed(2)}%`)
```

### getVshMONRate()

Returns the current vshMON exchange rate - how much shMON one vshMON can be redeemed for.

```typescript theme={null}
const rate = await sdk.getVshMONRate()
// → number, e.g. 1.034

console.log(`1 vshMON = ${rate.toFixed(4)} shMON`)
```

## Contract Addresses

| Contract     | Address                                      |
| ------------ | -------------------------------------------- |
| VaultFactory | `0xC9Da1Fe5B70e40C60e4028da5b1d7b8BD8e19c82` |

<Note>
  Individual vault addresses are discovered dynamically from the VaultFactory. Call `getMellowVaults()` to enumerate them at runtime rather than hardcoding vault addresses.
</Note>