Documentation Index
Fetch the complete documentation index at: https://docs.sherwood.sh/llms.txt
Use this file to discover all available pages before exploring further.
The PortfolioStrategy manages a weighted basket of up to 20 tokens. On execute it swaps the vault’s asset into each token at the target weight; on settle it sells everything back to the asset. The proposer can rebalance at any time while the proposal is Executed, either by selling everything and re-buying at current weights or by using Chainlink Data Streams prices to swap only the deltas (gas-efficient).
Swaps go through UniswapSwapAdapter (Base) or SynthraSwapAdapter / SynthraDirectAdapter (Robinhood L2). The Uniswap adapter auto-detects routes: it tries direct asset→token pools at multiple fee tiers first, and falls back to an asset→WETH→token multi-hop when no direct pool exists — this is how you can hold tokens without liquid USDC pairs.
Architecture
Lifecycle
Pending → execute() → Executed → (rebalance?) → settle() → Settled
| Phase | What happens | Who calls |
|---|
| Execute | Pull asset → swap to each basket token at target weight (via SwapAdapter) | Governor (proposal execution) |
| Executed | Proposer can rebalance(), rebalanceDelta(reports), or update weights/slippage | Proposer |
| Settle | Swap all tokens back to asset → push to vault | Governor (proposal settlement) |
Batch Calls
Execute
[asset.approve(strategy, totalAmount), strategy.execute()]
Settle
InitParams
struct InitParams {
address asset; // Vault asset (USDC on Base, WETH on Robinhood L2)
address swapAdapter; // UniswapSwapAdapter or SynthraSwapAdapter
address chainlinkVerifier; // Optional — required only for rebalanceDelta
TokenAllocation[] allocations; // token + targetWeightBps[] (sum = 10000)
uint256 totalAmount; // Total asset to deploy
uint256 maxSlippageBps; // Per-swap slippage cap (default: 500)
}
- Max basket size: 20 tokens
- Weights are in basis points and must sum to 10000
maxSlippageBps applies to every swap (entry, settle, and rebalance)
Rebalancing
While the proposal is Executed, the proposer can rebalance two ways:
| Method | Gas cost | When to use |
|---|
rebalance() | High — sells all, re-buys at current weights | Weights changed, or simple periodic rebalance |
rebalanceDelta(ChainlinkReport[]) | Low — swaps only the deltas | Frequent rebalances with fresh oracle prices |
rebalanceDelta reads a Chainlink Data Streams V3 report for each token; reports older than 5 minutes are rejected. This path is only available on chains with a Chainlink verifier proxy.
Tunable Parameters (Executed state)
| Parameter | Description |
|---|
targetWeightBps | Per-token target weight (must still sum to 10000) |
maxSlippageBps | Per-swap slippage cap |
swapExtraData | Per-token extra data for the swap adapter (e.g. path override, fee tier) |
Risk Notes
- Swap impact: Large allocations in thin pools can eat into P&L — set
maxSlippageBps conservatively.
- Oracle staleness:
rebalanceDelta rejects reports older than 5 minutes. If the feed goes stale, fall back to the full rebalance().
- Settle path:
settle() sells every token back to asset in a single transaction. A single illiquid token can revert the entire settlement; the proposer can update swapExtraData before settlement to route around it.
CLI Usage
sherwood strategy propose portfolio \
--vault 0x... \
--amount 10000 \
--tokens TSLA,AMZN,PLTR,NFLX,AMD \
--weights 2500,2500,2000,1500,1500 \
--max-slippage 500 \
--name "Stock Basket" \
--performance-fee 1000 --duration 7d
| Flag | Description | Default |
|---|
--amount <n> | Total asset to allocate | required |
--tokens <list> | Comma-separated token addresses or symbols | required |
--weights <list> | Comma-separated weights in bps (sum = 10000) | required |
--max-slippage <bps> | Per-swap slippage cap | 500 |
--fee-tier <n> | Uniswap V3 pool fee tier | 3000 |
--swap-adapter <address> | Override swap adapter address | auto-detected |
Addresses
| Contract | Base | Robinhood L2 Testnet |
|---|
| PortfolioStrategy template | 0x7865eEA4063c22d0F55FdD412D345495c7b73f64 | 0xAe981882923E0C76A7F10E7cAa3782023c0abd9B |
| Swap adapter | 0x121AaC2B96Ec365e457fcCc1C2ED5a6142064069 (Uniswap) | 0x39a37537E179919cb2dDDb1D6920dD11bAf3aDF0 (Synthra) |
| Chainlink Verifier Proxy | 0xDE1A28D87Afd0f546505B28AB50410A5c3a7387a | 0x72790f9eB82db492a7DDb6d2af22A270Dcc3Db64 |
