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

# Protocol Architecture

> The forked engines and the shared control planes that connect them into one system.

Strata is **not four separate protocols**. It is a coordinated system of
specialized engines connected by shared control planes, liquidity, and data
layers. This page describes the engines and — more importantly — the primitives
they share.

## The four engines

| Layer                  | Fork       | Role                                       |
| ---------------------- | ---------- | ------------------------------------------ |
| **Money**              | Liquity v1 | Stablecoin issuance (srUSD)                |
| **Markets (infra)**    | LlamaLend  | Borrowing / liquidity engine               |
| **Markets (products)** | FXN v1     | Structured products (tranching / leverage) |
| **Credit**             | Silo v3    | Private-credit origination                 |

The division of labor:

* **Money** is the control plane — issuance authority.
* **Markets** provide liquidity and financial primitives.
* **Credit** originates assets.
* **FXN** is the financial-engineering layer.

## Shared primitives — built once, used everywhere

This is what makes Strata a system. Three primitives are defined once and reused
by every engine.

<AccordionGroup>
  <Accordion title="1. Global control plane" icon="sliders">
    A `MoneyPolicyController` and `EngineRegistry` enforce global caps, throttles,
    and issuance gating, with multi-engine supply logic. **Built first** —
    because every engine eventually touches srUSD issuance, and defining it late
    would force a rewrite of everything else.
  </Accordion>

  <Accordion title="2. Oracle & risk framework" icon="gauge">
    All forks depend on oracle adapters, risk-config registries, and asset-
    approval frameworks. Shared components include an `OracleAdapterRegistry`
    (LlamaLend + FXN), an `FxOracleAdapterRegistry` (FXN), collateral adapters
    (Money), and risk-config registries (all engines).

    **Insight:** the oracle and risk layer is the real protocol — the forks are
    just execution engines.
  </Accordion>

  <Accordion title="3. Registry layer" icon="table-list">
    A unified registry pattern indexes every deployed financial object: market
    registries, engine registries, risk-config registries, and fee-config
    registries.
  </Accordion>
</AccordionGroup>

## Build order

Because every engine touches issuance, the control plane and shared oracle / risk
framework are built before the engines themselves. The forks plug into these
planes rather than carrying their own divergent risk logic.

<Info>
  Treating oracle + risk as the protocol — and the forks as interchangeable
  execution engines — is the central architectural decision. It keeps risk
  coherent across Money, Credit, and Markets instead of fragmenting it per fork.
</Info>

<CardGroup cols={2}>
  <Card title="srUSD monetary system" icon="coins" href="/protocol/srusd-monetary-system">
    The issuance and supply model in detail.
  </Card>

  <Card title="Security & trust" icon="shield" href="/protocol/security-and-trust">
    Trust assumptions, ledger integrity, and ownership lineage.
  </Card>
</CardGroup>