Close in four accounting steps.
Collect LP fees→
Apply protocol cut to fees→
Remove liquidity→
Return principal untaxed
Principal is not fee revenue.
Before liquidity is removed, the manager collects fees and records the protocol share. It then decreases liquidity, collects the resulting principal, burns the underlying positions, and returns principal to the strategy owner without a protocol deduction.
Accounting remains per asset.
Base-token amounts and quote-token amounts are measured and transferred separately. USD values in the interface are informational conversions, not the contract’s accounting unit.