💰Deposit and Withdraw Mechanism
Fund Mechanism (epoch-based entry/exit)
To Deposit or Withdraw from the Vault, a user must signal their intention to do so via deposit or withdraw. When signalling, the deposit amount in USDC or withdrawal amount in shares should be provided. Once a user has signalled either action they cannot cancel it.
To begin with, on a regular basis, an epoch is executed by keeper bots. At this point, the portfolio's net asset value (NAV) is calculated by taking all assets and liabilities and setting a price per share. This determines the value of the deposit or withdrawal.
Once the epoch is executed, user deposits are now active and withdrawals are processed. Deposits and Withdrawals are priced based on the epoch after they deposited or initiated their withdrawal.
Caveats
Epochs can be arbitrary in length, to begin with, epochs will be weekly and this may change in the future to facilitate faster entry and exit depending on demand.
Withdrawals cannot be requested less than 8 hours after depositing.
The vault maintains a liquidity buffer, used to ensure that the vault has sufficient funds to hedge itself and manage the margin for perpetual position collateral. As a result, it is possible for withdrawals to not be processed for that epoch if the withdrawal would take funds from the liquidity buffer, if this happens then withdrawals are postponed until there are free funds to process the withdrawal. Once a withdrawal epoch is successfully executed, users can always withdraw their funds.
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