Money Market Strategy

Contract: OrbtMMStrategy (inherits BaseStrategy)

Role of UPM: Only UPM may call strategy entrypoints; Pockets are whitelisted allocators.

Fee Model: feeBps on realized profit at withdrawal time → sent to ORBT Treasury. Principal is returned fee-free.

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1) Key Interfaces (what integrators call via UPM)

Supply & Withdraw

// Supply underlying from Pocket to Aave (aTokens accrue to Pocket)
function supply(address aToken, address pocket, uint256 amount) external onlyUPM;

// Withdraw underlying to `to`, pulling Pocket’s aTokens; strategy skims fee on profit portion
function withdrawFromPocket(address aToken, address pocket, uint256 amount, address to)
  external onlyUPM returns (uint256 withdrawn);

// Withdraw full aToken balance
function withdrawAllFromPocket(address aToken, address pocket, address to)
  external onlyUPM returns (uint256 withdrawn);

Credit Delegation (OCH)

// Approve variable debt delegation (EIP-712 style) to `delegatee`
function approveDelegationFromPocketWithSig(
  address debtToken, address pocket, address delegatee, uint256 amount,
  uint256 deadline, uint8 v, bytes32 r, bytes32 s
) external onlyUPM;

// Alternative signature route used by some Aave deployments
function delegationFromPocketWithSig(
  address debtToken, address pocket, address delegatee, uint256 amount,
  uint256 deadline, uint8 v, bytes32 r, bytes32 s
) external onlyUPM;

Debt Service Helpers

function repay(address aToken, address pocket, uint256 amount) external returns (uint256 repaid);
function repayWithPermit(address aToken, address pocket, uint256 amount,
  uint256 deadline, uint8 v, bytes32 r, bytes32 s) external returns (uint256 repaid);

Read-Only

// Principal ledger per (pocket, aToken); used for PnL & fee computation
function principalOf(address aToken, address pocket) external view returns (uint256);

// BaseStrategy state (via events / governance):
// - feeBps, feeBpsOverrideByPocket[pocket], treasury, isPocketWhitelisted[pocket]

Events

event Supplied(address indexed pocket, uint256 amount);
event Withdrawn(address indexed pocket, address indexed to, uint256 amount);
event Delegated(address indexed pocket, address indexed debtToken, address indexed delegatee, uint256 amount);

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2) End-to-End Flows

A) Supply-Only Yield

Approve & Supply

1. Pocket approves underlying → OrbtMMStrategy for amount.

2. Pocket calls (via UPM):

UPM.doCall(
  OrbtMMStrategy,
  abi.encodeWithSelector(OrbtMMStrategy.supply.selector, aToken, pocket, amount)
)

• Strategy pulls amount from Pocket, deposits to Aave on behalf of Pocket, mints aTokens to Pocket.

• Internal principalByPocketAToken[pocket][aToken] += amount.

Withdraw (partial)

1. Pocket approves aToken → OrbtMMStrategy for amount.

2. Pocket calls (via UPM):

UPM.doCall(
  OrbtMMStrategy,
  abi.encodeWithSelector(OrbtMMStrategy.withdrawFromPocket.selector, aToken, pocket, amount, to)
)

• Strategy pulls Pocket’s aTokens, redeems underlying, computes profit = amount - principalReduced, applies feeBps (or pocket override), sends fee → Treasury, net → to, updates principal accordingly.

Withdraw (all)

• Same pattern using withdrawAllFromPocket(...).

Notes

• Strategy enforces no dust post-ops; all temporary balances are cleared.

• Governance can set global fee, per-pocket fee override, treasury, whitelist.

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B) OCH via Credit Delegation (Supply + Delegate + Earn Intent Fees)

Concept

• Pocket supplies collateral (earning aToken yield).

• Pocket delegates variable debt limit on Aave to a delegatee (intent solver / clearing party).

• Delegatee borrows under Aave’s risk engine to fulfill intents instantly; later repays from settlement inflows.

• Pocket earns intent settlement fees (off-chain commercial terms) + deposit APY; ORBT takes fee only on realized profit when Pocket unwinds.

Delegate Flow

1. Obtain debtToken (Aave variable debt token address for the asset).

2. Pocket signs a delegation approval (EIP-712).

3. Pocket calls (via UPM):

UPM.doCall(
  OrbtMMStrategy,
  abi.encodeWithSelector(
    OrbtMMStrategy.approveDelegationFromPocketWithSig.selector,
    debtToken, pocket, delegatee, delegateLimit, deadline, v, r, s
  )
)

(or delegationFromPocketWithSig variant if required by deployment.)

Risk Controls

• Use bounded delegateLimit; monitor Aave health factor and outstanding variable debt.

• Revoke/resize delegation via a fresh signature with new amount when needed.

• Keep aToken principal sized to maintain healthy HF buffers.

Debt Service

• Anyone can help repay on behalf of Pocket:

OrbtMMStrategy.repay(aToken, pocket, amount)        // needs allowance
OrbtMMStrategy.repayWithPermit(aToken, pocket, ...) // EIP-2612

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3) Integration Checklists

Pocket Runtime

• Maintain UCE allowances for redemptions.

• Maintain strategy allowances:

  • underlying → OrbtMMStrategy (supply),

  • aToken → OrbtMMStrategy (withdraw).

• For OCH:

  • Supply collateral first; then sign and submit credit delegation via UPM.

  • Monitor HF, delegated limit utilization, and repayments.

Monitoring

• principalOf(aToken, pocket) for basis tracking.

• aToken balances, UCE reserve utilization, delegated amounts (via debtToken views), fee parameters (events/governance).

• Alerts on low allowances, high utilization, or stale governance settings.

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4) Commercial Outcomes

• Supply-Only: Earn conservative, liquid Aave APY; fee applied only on realized profit at withdrawal.

• OCH (Credit Delegation): Stack intent settlement fees on top of APY by powering partnered solver networks. Highest expected yield; assumes disciplined risk limits and active monitoring.

Bottom line: Allocators can start with Supply-Only for simplicity, then graduate to OCH to maximize yield once processes and monitoring are in place.