Meta Vault of Convex 3Crv Vaults
ERC-4626 vault with Curve's 3Pool liquidity provider token (3Crv) as an asset. The 3Crv is invested in underlying Convex 3Crv Basic Vaults.
Deposits of assets (3Crv) are allocated to the underlying vaults based on weights set by the Vault Manager. Withdraw of assets (3Crv) are proportionally withdrawn from the underlying assets. This may not match the weights set by the Vault Manager.
- Assets are invested across multiple underlying ERC-4626 vaults of the same asset type.
- Investment of deposited assets to the underlying vaults is batched in a
settleprocess. depositandmintuse minimal gas as the investment is done separately.- The
VaultManagerdirects the deposited assets to the underlying vaults. - Assets in underlying vaults can be redistributed by the
VaultManager. - Small withdrawals are taken from a single configured underlying vault to save gas.
- Large withdraws are proportionally taken from all underlying vaults.
- Performance fee periodically charged on assets per share increases.
- Vault operations are pausable by the
Governor. - Vault configuration is controlled by a protocol
Governor. This includes:- Which underlying vaults are used.
- Which vault small withdrawals are taken from.
- The threshold for large withdraws as a percentage of shares.
- Setting the account that receives the performance fee.
- Initially the
Governorcan upgrade the contracts via a proxy without a time delay. After 6 weeks, this will be changed to a one week time delay.
struct Settlement {
uint256 vaultIndex;
uint256 assets;
}
struct AssetSourcingParams {
uint32 singleVaultSharesThreshold;
uint32 singleSourceVaultIndex;
}
struct Swap {
uint256 fromVaultIndex;
uint256 toVaultIndex;
uint256 shares;
uint256 assets;
}
struct AssetSourcingParams sourceParams
Params related to sourcing of assets.
uint256 assetsTransferred
Amount of assets that are transferred from/to the vault.
uint256 assetPerShareUpdateThreshold
Threshold amount of transfers to/from for
assetPerShareUpdate.uint256 performanceFee
Performance fee scaled to 6 decimal places. 1% = 10000, 0.01% = 100
uint256 perfFeesAssetPerShare
Assets per shares used to calculate performance fees scaled to 26 decimal places.
address feeReceiver
Account that receives the performance fee as shares.
function settle(struct PeriodicAllocationAbstractVault.Settlement[] settlements) external virtual
Invests the assets sitting in the vault from previous deposits and mints into the nominated underlying vaults.
Parameters
Name | Type | Description |
|---|---|---|
settlements | struct PeriodicAllocationAbstractVault.Settlement[] | A list of asset amounts and underlying vault indices to deposit the assets sitting in the vault. |
function setSingleVaultSharesThreshold(uint32 _singleVaultSharesThreshold) external
Governor sets the threshold for large withdrawals that withdraw proportionally from all underlying vaults instead of just from a single configured vault. This means smaller redeem and withdraw txs pay a lot less gas.Parameters
Name | Type | Description |
|---|---|---|
_singleVaultSharesThreshold | uint32 | Percentage of shares being redeemed in basis points. eg 20% = 2000, 5% = 500 |
function setSingleSourceVaultIndex(uint32 _singleSourceVaultIndex) external
Governor sets the underlying vault that small withdrawals are redeemed from.Parameters
Name | Type | Description |
|---|---|---|
_singleSourceVaultIndex | uint32 | the underlying vault's index position in underlyingVaults. This starts from index 0. |
function setAssetPerShareUpdateThreshold(uint256 _assetPerShareUpdateThreshold) external
Governor sets the threshold asset amount of cumulative transfers to/from the vault before the assets per share is updated.
Parameters
Name | Type | Description |
|---|---|---|
_assetPerShareUpdateThreshold | uint256 | cumulative asset transfers amount. |
function chargePerformanceFee() external virtual
Vault Manager charges a performance fee since the last time a fee was charged.
As an example, if the assets per share increased by 0.1% in the last week and the performance fee is 4%, the vault shares will be increased by 0.1% * 4% = 0.004% as a fee. If there was 100,000 vault shares, 4 (100,000 * 0.004%) vault shares will be minted as a performance fee. This dilutes the assets per shares of the existing vault shareholders by 0.004%. No performance fee is charged if the assets per share drops.
function setPerformanceFee(uint256 _performanceFee) external
Sets a new performance fee after charging to now using the old performance fee.
Parameters
Name | Type | Description |
|---|---|---|
_performanceFee | uint256 | Performance fee scaled to 6 decimal places. 1% = 10000, 0.01% = 100 |
function activeUnderlyingVaults() external view virtual returns (uint256 activeVaults)
Returns the active number of underlying vaults. This excludes any vaults that have been removed.
Return Values
Name | Type | Description |
|---|---|---|
activeVaults | uint256 | The number of active underlying vaults. |
function totalUnderlyingVaults() external view virtual returns (uint256 totalVaults)
Returns the total number of underlying vaults, both active and inactive. The next vault added will have a vault index of this value.
Return Values
Name | Type | Description |
|---|---|---|
totalVaults | uint256 | The number of active and inactive underlying vaults. |
function resolveVaultIndex(uint256 vaultIndex) public view virtual returns (contract IERC4626Vault vault)
Resolves a vault index to an active underlying vault address. This only works for active vaults. A
Inactive vault error will be thrown if the vault index has not been used or the underlying vault is now inactive.sParameters
Name | Type | Description |
|---|---|---|
vaultIndex | uint256 | External vault index used to identify the underlying vault. |
Return Values
Name | Type | Description |
|---|---|---|
vault | contract IERC4626Vault | Address of the underlying vault. |
function rebalance(struct SameAssetUnderlyingsAbstractVault.Swap[] swaps) external virtual
VaultManager rebalances the assets in the underlying vaults. This can be moving assets between underlying vaults, moving assets in underlying vaults back to this vault, or moving assets in this vault to underlying vaults.function addVault(address _underlyingVault) external
Adds a new underlying ERC-4626 compliant vault. This Meta Vault approves the new underlying vault to transfer max assets. There is a limit of 15 active underlying vaults. If more vaults are needed, another active vaults will need to be removed first. There is also a limit of 62 underlying vaults that can be used by this Meta Vault over its lifetime. That's both active and inactive vaults.
Parameters
Name | Type | Description |
|---|---|---|
_underlyingVault | address | Address of a ERC-4626 compliant vault. |
function removeVault(uint256 vaultIndex) external
Removes an underlying ERC-4626 compliant vault. All underlying shares are redeemed with the assets transferred to this vault.
Parameters
Name | Type | Description |
|---|---|---|
vaultIndex | uint256 | Index of the underlying vault starting from 0. |
function setFeeReceiver(address _feeReceiver) external
Called by the protocol Governor to set the fee receiver address.
Parameters
Name | Type | Description |
|---|---|---|
_feeReceiver | address | Address that will receive the fees. |
function updateAssetPerShare() external
VaultManager can update the
assetPerShare.function calculateAssetPerShare() public view returns (uint256 assetsPerShare_, uint256 totalAssets_)
calculates current assetsPerShare
Return Values
Name | Type | Description |
|---|---|---|
assetsPerShare_ | uint256 | current assetsPerShare |
totalAssets_ | uint256 | totalAssets of the vault |
Last modified 6mo ago