The cycle
- Claim. Pending rewards are claimed from the venue into your vault.
- Convert. Reward tokens are sold for strategy assets under the vault’s per-swap loss cap. Emission tokens usually depreciate — holding them is a position, and rarely a good one, so the agent converts on a cadence that balances conversion cost against depreciation risk.
- Compound. Proceeds are folded back into positions, growing the base that earns the next harvest.