Fee Vaults

What is the FeeVault?

The FeeVault contract extends BaseVault with fee functionality. It's used by default in both single depositor and multi depositor implementations and allows guardians and other operators to be rewarded for participating in vault operations.

Since Aera vaults can hold arbitrary assets, the FeeVault incorporates a fee calculator contract which computes and provides the vault value. In practice fee calculators operate as an oracle with an accountant submitting the updated vault price over time.

Finally, FeeVault adds a single fee recipient which will receive fees while a protocol fee recipient is provided by the fee calculator. In practice the protocol fee recipient is managed by the Aera team and the fee recipient is chosen for each vault by the vault owner or whoever has the required authority.

Why it Matters

The FeeVault provides a consistent interface for fee recipients to claim fees independent of whether it is a single depositor vault or a multi depositor vault. It also abstracts details about what types of fees are charged. Specifically, while the protocol currently provides built-in support for TVL fees and performance fees, other fee types could be added in future fee calculators.

How to Use the FeeVault

The FeeVault is built into single and multiple depositor vaults directly. For the vault owner, the choice of fee recipient will likely be related to the choice of guardian.

In the event that multiple different entities are operating as guardians the fee recipient would either be the single entity that is performing Guardian services (as opposed to more operational duties) or the fee recipient could be a splitter contract if there are multiple guardians operating as vault strategists.

Caveats

Depending on which fee calculator contract is used, it's generally appropriate for the fee recipient to be claiming fees regularly as a vault owner can usually remove a fee recipient without prior notice.