Silo Manager
Last updated
Last updated
Your Silo Manager is your personal bot. Its role is to execute Silo functions when they are required. Under the hood your Silo Manager is actually a Chainlink Automation account.
The Chainlink Automation Network monitors your Silos on your behalf every couple of seconds (2 blocks). If some action is required, it executes the necessary function immediately.
To operate a Chainlink Automation account, Chainlink requires the owner to deposit some LINK which is used to pay for the transactions (gas + a small fee).
The amount of LINK spent on Silo transactions will vary over time and is determined by several factors including gas costs, the number of Silos you own and the number of transactions that those Silos require. For example, a Silo set to harvest every hour will use roughly 24 times more LINK than a Silo set to harvest daily.
Determining the amount of LINK you will use over a certain period is difficult to predict, but we offer some references below that will assist.
We (Gravity) have built on top of the Chainlink Automation structure and added some balance buffers of our own to ensure reliable Silo maintenance and upkeep.
To offer a single value to monitor, your Silo Manager displays a "Healthy Level" value and associated "Healthy" status". Users should keep their balance above this level to keep everything running smoothly. There are two other statuses to be aware of:
Low - Your balance has dropped below the Healthy Level. You should top up your LINK ASAP.
Critical - Your balance has dropped below a critical buffer and some strategies may have been exited to protect your funds.
See the Silo Manager Levels section further down this page for descriptions on the various levels and buffers.
The important takeaway from this page is to always maintain enough LINK in your Silo Manager for a "Healthy" status". If this is achieved, all of your Silos will be running as expected.
When first setting up your Silo Manager, a minimum of 5 LINK is required. We recommend all users start with 5 LINK and then add additional LINK later once they understand how everything works.
Please note, it is not possible to withdraw LINK from your Chainlink Automation account without cancelling your Silo Manager. We recommend using the Auto top-up feature mentioned below if wanting to deposit larger amounts of LINK. By storing LINK in the top-up account, you can withdraw it without needing to cancel your Manager.
You can cancel your Chainlink Automation account at any time and withdraw your remaining LINK balance. To be able to Cancel your account, we enforce that you must first exit all Silo strategies that utilise ARM (Active Risk Management). Without this in place, you risk losing money from liquidations etc.
Cancelling and Withdrawing is a 2 step process. You must first submit the "Cancel" transaction and then after 2-3 minutes, you must then submit the "Withdraw" transaction.
If you cancel your Silo Manager, all remaining Silos (ones not using ARM), will no longer be automatically maintained and you must then use manual tasks to perform any required tasks. You never lose access to your funds under any circumstances and can always withdraw them.
The Auto Top-up account is a balance of LINK held within the Silo Manager Contract that has not yet been sent to your Chainlink Automation account. When/if your Silo Manager status becomes "Low" (below Healthy), LINK held in your top up account is sent to your Chainlink account provided it's .5 LINK or higher.
This top-up account can be automatically sent LINK from Silos to help ensure that your Chainlink Automation account is always healthy. Currently, the only Silo that offers forwarding to this top-up account is the "Swap and Claim" strategy (when purchasing LINIK).
The "Minimum Balance" is a dynamic value set by Chainlink and it's the minimum account balance required to run your Silos. If your account drops below this level, your Silos will no longer operate automatically and manual actions will then be required.
To offer a single point of reference, your Silo Manager displays a "Healthy Level" value. The "Healthy Level" is a dynamic value that is calculated based on the Minimum Balance requirements (set by Chainlink) and the number of Silos you have deployed.
We have added this recommended buffer on top of the Minimum Balance requirements for your own protection. In times of network congestion (gas spikes), Chainlink can increase the Minimum Balance requirement so this buffer helps to ensure smooth operation of your Silos and no downtime.
If your balance drops below this level, your Silo Manager Status will appear as "Low" and also show an Amber coloured indicator.
This is the Minimum LINK balance required to run Silos that use "Active Risk Management" (like liquidation prevention and loan rebalancing). All strategies displaying the following icon use ARM.
If your Manager drops below this level, ALL ARM Silos will exit their investment strategy and all funds will be returned to the Silo as the main reserve asset.
Gravity enforces this ARM Buffer to ensure that there is enough LINK in your Chainlink automation account to fully unwind all ARM strategies during unexpected network congestion (gas spikes).
Next ARM Buffer
This is the value that the Current ARM Buffer would be at if you were to create 1 additional ARM Silo. This is displayed as a guide only to allow users to see the impact of creating this additional ARM Silo.
