yVault Prize Pool

The yVault Prize Pool is a prize pool that uses a yEarn yVault as a yield source. When a yVault Prize Pool is created it is configured with a yVault to deposit and withdraw from. This particular prize pool retains a small reserve in order to cover yVault withdrawal fees.

Retrieving the Underlying yVault

The underyling yVault address can be retrieve using the function:

function vault() returns (address);

Prize Pool Reserve

yVaults may charge users a fee upon withdrawal if the amount exceeds the vault holdings. In order to compensate for this the yVault Prize Pool retains a reserve at a rate matching the fee. For example, if the yVault fee is 0.5% then the yVault Prize Pool will retain 0.5% of the deposits as reserve. The reserve will not be exposed to the Prize Strategy for distribution: it will be retained to cover withdrawal fees.

It may appear that users will immediately lose 0.5% upon deposit, but it is important to note that the reserve works in tandem with the credit system. The credit system ensures users participate long enough to contribute to the prize and the reserve.

The reserve rate can be retrieved using:

function reserveRateMantissa() returns (uint256);

This returns the reserve rate as a 18 decimal fixed point number (like Ether).

The owner of the prize pool can set the reserve rate using the function:

function setReserveRateMantissa(
    uint256 _reserveRateMantissa
) external onlyOwner