refactor: delegated fees #253
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storming0x
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Thinking if the comment here also needs to document this? yearn-vaults/contracts/BaseStrategy.sol Line 217 in ba980d1 |
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* refactor: add delegated assets to the accounting of mgmt fees * refactor: some trailing whitespace * test: show that delegated assets pay no mgmt fee * refactor: add `min` guard to avoid improper computation from breaking * docs: add note about use of `BaseStrategy.delegatedAssets()`
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* refactor: add delegated assets to the accounting of mgmt fees * refactor: some trailing whitespace * test: show that delegated assets pay no mgmt fee * refactor: add `min` guard to avoid improper computation from breaking * docs: add note about use of `BaseStrategy.delegatedAssets()`
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This PR changes how fees are assessed such that
BaseStrategy.delegatedAssetsis pro-rated into the fee assessment. If a strategy delegates all of it's assets, there should be no fees earned by that strategy to either governance or the strategist themselves, and that portion of the assets loaned out shall earn no management fees either.If only a portion is delegated (e.g. debt-based strategies where some of the funds are used to borrow against), that portion should be calculated such that the exact funds used to borrow are marked as delegated (e.g. Maker strategy w/ 200% debt ratio, then half the funds should be marked "delegated"). This is important to ensure than the degree of work is properly accounted for in how a strategy operates.
Strategists will need to be aware of properly reporting
delegatedAssetsand ensure it is strictly less than or equal to the total debt, or else the calculations will revert or be processed improperly.