Reporting
Description of the DeFunds reporting process
Last updated
Description of the DeFunds reporting process
Last updated
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
Before
The report consists of several steps that are performed sequentially:
Charging and fees
accrual
Fulfillment of requests
Moving withdrawal requests to the next period
Saving value
The report has a limit of 20 operations. One operation is counted for each or . If the number of operations in the report exceeds the limit, the report is executed in multiple transactions. is charged from fund assets for every report transaction.
During report, these expenses are paid from fund assets in USDT:
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 - 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)
Execution fees are tracked as debt and are charged from Trade contract in USDT every hour.
priceETH - price of network's base currency in USDT fetched from a price feed contract
Hint: To avoid unwanted auto-closing, you should close positions in advance to fulfill all withdrawal requests during the period