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Locks

Overview​

The Locks contract holds RWIV that members have committed for a fixed period, and pays out the bonuses that commitment earns. A member can hold any number of locks at once, each with its own amount and end date.

Locking does not change how RWIV accrues. The baseline yield is carried by the share price, so locked shares gain value exactly as unlocked ones do, and the lock is what makes a member eligible for a share of excess returns on top.

Key Concepts​

Locks​

struct Lock {
  uint96 shares;
  uint32 startTime;
  uint32 period;
}

A lock ends at startTime + period, and the shares cannot be withdrawn before then. Locks are stored per member in an append-only array, so lockId is an index into that array and is never reused. Withdrawing zeroes the entry rather than removing it.

Lock periods​

uint public constant MIN_LOCK_PERIOD = 30 days;
uint public constant MAX_LOCK_PERIOD = 732 days;

Any period between the two is accepted. The app offers a few fixed durations, but the contract does not restrict the choice to those.

Points and bonuses​

Points are calculated offchain from the locks recorded here, and the rate they earn at rises with the period committed. Bonuses are paid in USDC, straight to member addresses, and are not accrued in the contract — addReward transfers them in the same call.

Mutative Functions​

lockShares​

Locks RWIV the caller already holds. Transfers the shares to this contract and opens a new lock.

function lockShares(uint shares, uint period) external;

The caller must be an active member and period must be within the bounds above.

lockSharesOnDeposit​

Opens a lock for shares minted straight from a deposit. Callable only by RWIVault, which uses it for requestDepositAndLock.

function lockSharesOnDeposit(uint shares, uint memberId, uint period) external;

editLock​

Adds shares to an existing lock, extends it, or both.

function editLock(uint lockId, uint topUpShares, uint period) external;
ParameterDescription
lockIdThe lock to edit. Must not have ended.
topUpSharesShares to add. May be zero.
periodTime to add to the period. May be zero.

period extends the lock rather than replacing it, and the check is on what remains: the time from now to the new end date must be within MIN_LOCK_PERIOD and MAX_LOCK_PERIOD. A lock with three days left cannot be topped up without also extending it past the minimum.

An ended lock cannot be edited. Withdraw it and open a new one.

withdrawShares​

Returns the shares from an ended lock to the member.

function withdrawShares(uint lockId) external;

Reverts while the lock is still running. There is no early exit and no penalty route out.

addReward​

Pays bonuses. Vault Operator only.

function addReward(
  uint[] calldata memberIds,
  uint[] calldata assetAmounts,
  address asset,
  uint totalAssetAmounts,
  uint snapshotTimestamp
) external;
ParameterDescription
memberIdsWho is paid.
assetAmountsHow much each is paid, aligned with memberIds.
assetThe asset paid in, USDC in practice.
totalAssetAmountsThe sum of assetAmounts, checked against it.
snapshotTimestampThe quarter-end the distribution was calculated at, for the event.

The amounts come from the offchain points calculation. totalAssetAmounts has to match their sum exactly, so a distribution that was assembled wrongly reverts rather than paying out.

View Functions​

function getMemberLock(uint memberId, uint lockId) external view returns (Lock memory);
function getAllMemberLocks(uint memberId) external view returns (Lock[] memory);

getAllMemberLocks includes withdrawn locks, which read as zeroed. getMemberLock reverts on an id that was never issued.