update-fees.md

How to update one or more of the Fees associated with a pool

Pools deployed by White Whale Liquidity Hub all have the capability to set a custom fee on the creation of the pool. For more info on the types of Fees, refer here

The majority of the pools are deployed with the same Fee configurations where possible to ensure same fees are charged on every pool but this is only a convenience, anyone creating a pool can either request their own custom fees; or at a further point may want to raise or lower fees. This small document covers how an admin can update the fees for a given pool or a number of pools:

Performing an update

The only way to update fees on a pool is through a config update which is exposed via ExecuteMsg::UpdateConfig on each deployed pool. The UpdateConfig execute message allows an admin to change any important details such as the charged.

This is an example of what the pool configs look like, for up to date info, refer to

{
  "owner": "juno1...",
  "fee_collector_addr": "juno1...",
  "pool_fees": {
    "protocol_fee": {
      "share": "0.001"
    },
    "swap_fee": {
      "share": "0.002"
    },
    "burn_fee": {
      "share": "0.001"
    }
  },
  "feature_toggle": {
    "withdrawals_enabled": true,
    "deposits_enabled": true,
    "swaps_enabled": true
  }
}

Currently at the time of writing, the majority of chain deployments have 3 chargeable fees. These are Protocol Fees, Swap Fees and Burn Fees which each serve different purposes. Generally when updating one fee, all should be updated unless you want to simply remove a type of fee.

Example of removing burn fee on a pool

Lets say for example we want to update the fees for 5 pools and we want to remove the burn_fee from them so that there is no longer burned tokens on a swap. You can send an UpdateConfig message request from the right wallet depending on permissions to update only the burn fee

{
  "pool_fees": {
    "burn_fee": {
      "share": "0.001"
    }
  },
}

Example of removing flash fee on a vault

Its important to state again here that a flashloan vault in the current WhiteWhale design is similar to a Pool in the sense that both return a token which is used to track the user share of a pool. They have other similarities in how they deal with fees in that while there is no swap fee there is a flash loan fee. For full info on the types of fees on a vault refer to Vault Fees

In the case of a vault we have fees again stored in the config

The process for updating a Vaults fees is identical to updating or a pool in that we must call UpdateConfig

Updating only the flash_loan_fee would look something like this :

{
  "fees": {
    "flash_loan_fee": {
      "share": "0"
    },
  }
}

Updating multiple

Coming back to the example of

Lets say for example we want to update the fees for 5 pools

Where its pools or vaults the process remains the same highlighted above but this then must be performed on each pool/vault you wish to update. Considering the amount of growing deployments and vaults this number can grow and it would be wise to do it via a script which simply sends the same JSON to each one.