Vaults
Create and run a vault
Make a vault from a strategy run or a project you trade by hand, set its terms and rules, raise for it, upgrade its strategy, and wind it down.
What a vault can follow#
- A strategy run. Its NAV moves with the run's return. A run on live wallets gives a real-money record from its quarter-hour marks.
- A project you trade by hand (a managed vault). Its NAV moves with the project's value from five-minute snapshots, with fundings not counted as gains.
Before you make one, quote the run's backtest and its record so far: investors will.
Terms#
Fixed once the vault is made:
| Term | Means |
|---|---|
| Period | When it deals: hourly, daily, weekly or monthly |
| Notice | Hours before a dealing an order must be in |
| Management fee | A year, taken at each dealing |
| Performance fee | On each investor's gain above their own high-water mark |
| Entry and exit fees | On subscriptions and redemptions |
| Minimum and capacity | The smallest order, and the most the vault takes |
Rules ftw.trade enforces#
| Rule | Does |
|---|---|
| Max drawdown | Winds the vault down at a dealing that far under its high |
| Max leverage | Caps leverage, now and after any upgrade |
| Same market | Keeps upgrades on the same market |
| Scope | Limits the protocols, tokens and markets it may trade. A managed vault's out-of-scope swaps and perp moves are refused before they're planned and again where its wallets sign |
| Timelock | Delays an upgrade or a wider scope, so investors can leave first (at no exit fee, before a wider scope) |
Give it a face#
An image, a description and your verified X handle (from an X account linked in Account settings). A vault's page and dashboard can carry your branding. See Dashboards.
Raise, stake and run#
- Raise first, launchpad style: a target and a number of days. Short of the target, everyone is refunded.
- Stake your own ETH in at the first dealing, locked until the vault winds down.
- Open takes subscriptions; closed takes none (redemptions go on); closing pays every holder out at the next dealing and ends it.
Upgrade the strategy#
Point the vault at another of your runs from the next dealing. NAV is struck on the old run first, so the record carries on. Investors see that an upgrade is coming (not what it is) and may redeem first. You can call it off before it lands.