Actions on Backd require externally owned accounts to trigger or execute them. For instance, a collateral top up can only occur if it is called externally. Backd incentivizes keepers to execute actions by paying them a share of the fees.

Collateral Top Ups

The first supported action on Backd is collateral top ups.

Keepers of this action can execute collateral top ups for accounts that have registered a top up position on Backd. All interaction regarding collateral top ups occur through the TopUpAction contract.

TopUpAction.execute(address payer, address account, address beneficiary, bytes32 protocol) external returns (bool)

Top up a registered position on an external protocol (e.g. AAVE or Compound) if the position’s conditions are met. Pool and vault funds are rebalanced after withdrawal for top up

  • payer: Address paying for the top up. This is the address that created the top up position.

  • account: Address which has been registered for top up.

  • protocol: Protocol of the top up position. Note: this is the name of the protocol represented as bytes32.

  • beneficiary: Address of the keeper’s wallet for fee accrual.

TopUpAction.canExecute(address payer, address account, bytes32 protocol) external view returns (bool)

Check whether a position registered for collateral top up is eligible for top up. If this is true then TopUpAction.execute may be called.