User Flow

volt #04 state machine
Users deposit/withdraw stablecoin. Epochs and deposits/withdrawals are resolved by default weekly on Thursday night (2 UTC). 
New epochs are automatically triggered when the amount of pending deposits is greater than 2% of Mango's 24h trailing volume on SOL perps to minimize price impact from signaling to other participants about expected future flow. 
Epochs with large amounts of incoming deposits/withdrawals may take longer than normal to resolve so that the Volt can exit its position while reducing slippage. During the time that the Volt is rebalancing, no new deposits can be made. 
Once an epoch, volt aggregates deposits and moves the USDC to Mango
Given “mango account equity” = $X, volt buys $X of SOL-PERP and shorts $X of SOL. This implies the volt is long 1 unit of basis, delta-hedged within -1 to +1%. The Volt is at effective 2x leverage on $ equity, but only exposed to spread between perp & spot so virtually impossible to liquidate (since they both use same oracle)
After the volt has fully traded into position, mints vault tokens for users and opens claiming pending deposits/withdrawals
Users may claim deposits/withdrawals

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Volt#04: Basis Yield

Historical Performance

Last modified 1mo ago

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