Architecture Overview
The protected moonshot vault uses of following protocols:
- 1.Convex pool for getting rewards on
USDCdeposit made by user. - 2.Perp V2 for taking leveraged position using harvested yield.
The trade for delta neutral strategy looks as follows. Let’s say a user deposited 1000 USDC into the vault. Here is how the position looks like.
- Position opening: Let’s say the user deposited 1000 USDC into the vault. 1000 USDC -> deposited on curve to get lp tokens and staked on convex rewards. After a week the rewards are harvested. Let's say it was 10 USDC. 10 USDC -> this yield is bridged to optimism to take a leveraged position on perp.
- Position closing: In order to settle withdrawals requested by user. The vault holds around 1-10% funds as buffer in vault. If the requested amount is more than buffer amount.Unstake → the equivalent request amount from convex. Transfer the funds to vault and withdraw.
The above functionality is achieved by the
Batcher, Vault, ConvexTradeExecutor and PerpTradeExecutor contracts. Where Batcher, Vault contracts mainly handle the user deposit/withdrawals. ConvexTradeExecutor and PerpTradeExecutor handles the position taken on respective protocols.
Batcher: Batcher contract main function is batch multiple user deposits so its cheaper for user to deposit/withdraw. The current implementation helps us integrate karma check so users who pass karma check can deposit/withdraw. Users deposit/withdraw into vault through this contract.Vault: Vault contract is the main contract user funds are managed across different protocols using their respective trade executors. Vault can add/remove trade executors depending on strategy. Vault also manages funds across different trade executors.ConvexTradeExecutor: ConvexTradeExecutor is the contract that handles the position taken on convex protocol.PerpTradeExecutor: PerpTradeExecutor is the contract that handles the position taken on perp protocol.
Last modified 8mo ago