🛄Collateral Accounts

Collateral accounts help users manage collateral across Perennial markets on a single chain in a gas-less manner. Colloquially called "1-click-trading".

The majority of actions are performed using EIP-712 message payloads submitted to keepers through a relayer. Users may self-sign their messages or delegate one or more signers.

Benefits

• Gasless Trading - Moving collateral among markets can now be done with signed EIP712 transactions.

• Bundled actions - Multiple different collateral actions can be bundled into a single transaction.

• Dynamic Rebalancing - LPs can leverage the rebalancing deatures of collateral accounts to automatically shift collateral between markets.

Account Creation

Account creation was designed to be as flexible as possible. Rather than requiring a transaction from an EOA send a transaction, a user can instead just send USDC to the deterministic address of the future collateral account & rely on a relayer to execute the creation.

Process:

• Get deterministic address from Controller contract.

• Before the account is created, transfer DSU or USDC to that address for keeper compensation.

• Send a message to the relayer requesting account creation.

Note: A user's EOA may deploy only one collateral account.

Collateral

All USDC in the account is implicitly wrapped to DSU when transferring an amount greater than the account's DSU balance into a market. Funds transferred out of markets are not unwrapped until withdrawal.

Implementation

You can see the implementation of this system here