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Every vault keeps its own fee accounting in contract storage — the fee book. It is the mechanical implementation of the high-water mark, and because it lives on-chain, you can audit your own fee state without trusting our servers.

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The three accumulators

All three are monotonic — they only grow — which is what makes the accounting simple to verify and impossible to game by cycling funds.

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The fee rule

At each outbound transfer, the vault computes new profit:
In words: you’re only charged when your cumulative withdrawals exceed your cumulative contributions, and only on the slice that hasn’t been charged before. Principal first, profit once, losses never — see the worked examples.

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Properties

  • feeRate is immutable — set at deployment, capped by the vault generation, no setter exists.
  • Event-time valuation. Every accumulator update uses the accepted price feed at that moment and emits an event, so the entire fee history is reconstructable from the chain.
  • Stale feed ⇒ waiver. If a required feed is stale at the gate, the fee is zero and a waiver event is emitted — the book never records a guessed number.
  • Failed fee transfer ⇒ deferral. The owed amount is booked per token and retried; the owner’s payout is never held hostage by the treasury leg.
  • In-kind exits pay from loose balances. When positions leave intact, the fee is collected from the vault’s loose token balances; if they’re insufficient, the exact shortfall is quoted to the owner up front rather than discovered mid-transaction.