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DAO Treasury Management
Volt #03 & #04
Rebalancing Process
Volt 3 & 4 follow the below process:
- 1.Accept user deposits/withdrawals of one denomination (i.e SPL token). See User Facing Instructions. Record pending deposits/withdrawals on
RoundPDA account. for the current epoch. - 2.Wait until a rebalancing is required (leverage is far away from target or many deposits/withdrawals. typically once per week).
- 3.CRANKING BEGINS HERE
- 4.Take performance fees generated during the epoch (TakePerformanceFees).
- 5.Choose a Supported Protocol, deposit new user assets in the volt's margin account for that protocol (SetupRebalance).
- 6.If will require trading of spot Serum markets, creates an OpenOrders account for the appropriate markets (InitSpotOpenOrders).
- 7.Enters the target position using target leverage ratio on the target perpetuals market on the target perpetuals exchange. Could be over thousands of order or in a single block order, depending on volt capacity and market conditions. (Rebalance Order Book or Setup Rebalance Off-book or Rebalance Off-book).
- 8.Hedges the target postion with either a different perpetual or a spot market + borrow/lend (Rebalance Order Book or Rebalance Spot).
- 9.Processes pending deposits/withdrawals. (EndRound).
- 10.Takes withdrawal fees (TakePendingWithdrawalFees).
- 11.Starts new epoch and repeats from step 1! (StartRound).
- 12.CRANKING ENDS HERE
Note: StartRound and EndRound have different implementations than Volt 1 & 2 despite serving a very similar purpose.
Supported Protocols
Mango Markets
Cross-margined perpetuals and spot exchange. Provides liquidity on the most popular assets in SOL ecosystem (e.g SOL, BTC, SRM)
Cross-margined exotic derivatives and perpetuals exchange. Forked from Mango Markets. Currently traded assets include a BTC^2 power perpetual. Provides support for off-book orders, easing execution and averting adverse selection for volt users.
Last modified 13d ago
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