When Strategies Are & Are Not Necessary

Positions can be opened with or without electing a public-facing Strategy. If a user swaps into a Position by specifying a unique asset output, and declines to publish it, then this would be auto delegated as a protocol-owned, non public-facing Strategy. Stable and Volatile positions can be elected without a Strategy, however since Adaptive Strategies require a preconceived logic to make them dynamic they require that a user either creates a Strategy or selects from a list of previously published Strategies. As an example: A user desires to open a Position that will dollar cost average at certain price intervals (similar to strategically entering and exiting concentrated LPs), so they will require understanding about Strategy dynamics and explicitly select or design that Strategy.