Wrapped positions

The optional WSupplyPosition wrapper (interface IWPosition) is an ERC4626 vault over an XPower Banq Supply Position. It exposes a strictly-standard ERC20 share token plus the ERC4626 deposit/redeem surface — useful for composability with protocols that don't understand the lock-aware transfer mechanics of native Supply positions.

Only supply positions can be wrapped. There is no WBorrowPosition — borrow positions stay in their native, inverted-ERC20 form.

Why a wrapper?

Standard ERC20 expects:

• transfer(to, amount) always pushes value to to.
• No additional checks beyond balanceOf arithmetic.

A native XPower Banq Supply position has a lock-aware transfer that moves the lock fraction proportionally. Most integrations don't model that hidden state — they'd see the transfer succeed but later be surprised that some fraction of what they hold is non-redeemable.

WSupplyPosition shields other protocols from this by routing entry and exit through the standard ERC4626 surface. The share token itself is plain ERC20: no inverted direction, no hidden lock-aware transfer hook.

How it works

WSupplyPosition inherits OpenZeppelin's ERC4626 and overrides only decimals() and totalAssets() — everything else (deposit / mint / withdraw / redeem / convertToShares / convertToAssets / preview*/max*) is the standard OZ surface.

• Wrap by depositing the underlying Supply position. Call WSupplyPosition.deposit(assets, receiver) (or mint(shares, receiver)) — the wrapper pulls native Supply Position tokens from msg.sender (subject to the usual ERC20 approval) and mints WSupplyPosition shares to receiver. Shares correspond to assets at a parity that evolves with the underlying position's index over time.
• Unwrap by redeeming the shares. Call WSupplyPosition.redeem(shares, receiver, owner) (or withdraw(assets, receiver, owner)) — the wrapper burns WSupplyPosition shares and releases the underlying Supply position tokens to receiver.

When to wrap

• Using as collateral in another protocol. Many DeFi protocols accept ERC20 (or ERC4626) collateral. WSupplyPosition is the safe form.
• Trading on AMMs. Most AMM pools assume standard ERC20.
• Distributing to non-aware contracts. Reward systems, vesting contracts, etc.

When NOT to wrap

• You want to actively redeem or settle the underlying position. WSupplyPosition has no redemption against the Pool — you must redeem shares back into the native Supply position first, then Pool.redeem(...) to withdraw the underlying asset.
• You're transferring within Banq. Native positions transfer correctly within the protocol.
• You hold a borrow position. Borrow positions are not wrappable; there is no WBorrowPosition.

Locks and the wrapper

Wrapping does not change the underlying lock state. Deposited locked tokens remain locked in the underlying Supply position — the wrapper-share holder cannot redeem the locked portion until the underlying lock expires.

In other words: the wrapper normalises the transfer surface to plain ERC4626, but it cannot unlock liquidity that isn't there.

Where to go next

• Positions as tokens — the native semantics
• ERC4626 vaults — the standard reference
• Integration guide — composing with Banq