Reporting

Description of the DeFunds reporting process

Each fund has its own reporting period. When creating a fund, you can choose from 3 options: 1 week, 1 month, and 1 quarter. Reporting is a key event in DeFunds, and a fund usually undergoes reporting for the following reasons:

• Planned report

  • For weekly funds - every Monday

  • For monthly funds - every first day of the month

  • For quarterly funds - every first day of the quarter (1st of Jan, 1st of Apr, 1st of Jul, 1st of Oct)

• Before updating one of the contracts

• Before updating fund's permissions

The report consists of several steps that are performed sequentially:

• Charging PF and EF fees

• Deposits accrual

• Fulfillment of withdrawal requests

• Moving indented withdrawal requests to the next period

• Saving HWM value

The report has a limit of 20 operations. One operation is counted for each deposit or withdrawal. If the number of operations in the report exceeds the limit, the report is executed in multiple transactions. Execution fee is charged from fund assets for every report transaction.

Note: Only trigger server is authorized to call the report

Autoclosing

During report, these expenses are paid from fund assets in USDT:

• Withdrawals

• Performance fee

• Execution fee

If the fund's USDT balance and the total deposit size for the last period are insufficient to cover the fund's expenses, the auto-closing process is initiated, in order to get needed amount of USDT. Usually it's 110% of needed amount is closed, to handle high volatility at the moment of closing positions. The order of services during auto-closing is: GMX -> AAVE -> 0x. Positions are closed in order from the biggest to the smallest.

Execution fees are calculated using this formula:

$$(gasFee*gasPrice+value)*priceETH$$

• gasFee - amount of gas used for an autoclosing transaction

• gasPrice - gas price

• value - amount of base currency sent with a transaction (needed for decreasal of GMX positions)

• priceETH - price of network's base currency in USDT fetched from a Chainlink price feed contract

Execution fees are tracked as debt and are charged from Trade contract in USDT every hour.

Hint: To avoid unwanted auto-closing, you should close positions in advance to fulfill all withdrawal requests during the indent period