Vaultka
Search
⌃K
Comment on page

Fees & Parameters

Fees

Leverage Vaults (Liquor & Cocktail Series)

Vault
Withdrawal Fee
Additional
0.2%
-
0.2%
-
0.2%
-
0.2%
esVELA reward of VLP staking
0.2%
-
0.2%
esHMX reward of HLP staking
0%
-
0.2%
-
*Zero Deposit fee willl be collected from All Vaults
​
Vault
Management Fee
Withdrawal Fee (Waived before Round 4: Last Call Cheers)
GLP Neutral (v-WATER)
0%
0.1%
0%
0.1%
0%
0.1%
0%
0.1%
0%
0.1%
0%
0.1%
*Zero Deposit fee willl be collected from Lending Vaults
​

Management Fees

Vault
Strategic Vault
Lending
18% of GLP APR before distribution to DILUTED VODKA & v-WATER
0%
15% of GLP APR before distribution to leverage user & lending (Waived before Round 4: Last Call Cheers)
0%
15% of gDAI APR before distribution to leverage user & lending (Waived before Round 4: Last Call Cheers)
0%
15% of VLP APR before distribution to leverage user & lending (Waived before Round 4: Last Call Cheers)
0%
15% of GM APR before distribution to leverage user & lending (Waived before Round 4: Last Call Cheers)
0%
15% of HLP APR before distribution to leverage user & lending (Waived before Round 4: Last Call Cheers)
0%
  • GLP Weekly APR < 5%: mfee = 0%
  • 5% < GLP Weekly APR < 10%: mfee = 2.5%
  • GLP Weekly APR > 10%: mfee = 5%
*Management fee is waived before 1st Feb 2024
-
15% of GM APR before distribution toleverage user & lending (Waived before Round 4: Last Call Cheers)
0%
​

Liquidation Fees

The liquidation fees collected by Keeper contract is 5%. When users' position reach the liquidation threshold, assets will be forced to be liquidated. The returned amount will be first return to lenders to make lenders whole, and the remaining will be returned to users.
​

Parameters

Leverage Vaults

Underlying
Liquidation Threshold
Reward Split Mechanism
Special note
​GLP
95%
Based on Utilisation Rate: 0%-90%: 30% Reward Split to lender 90%-95%: linear increase to 70% split >95%: 70% Reward Split to lender
-
​gDAI​
95%
Based on Utilisation Rate: 0%-90%: 30% Reward Split to lender 90%-95%: linear increase to 70% split >95%: 70% Reward Split to lender
-
​VLP​
95%
Based on Leverage Size, increase 2.5% for every 1x: 2x --> 30% 3x --> 32.5% 4x --> 35% ...... 9x --> 47.5% 10x --> 50%
-
​GM​
95%
Based on Leverage Size, increase 2.5% for every 1x: 2x --> 30% 3x --> 32.5% 4x --> 35% ...... 9x --> 47.5% 10x --> 50%
​HLP​
95%
For HLP Leverage, reward split will be in two parts: 1. Claimable USDC.e Reward Split will be based on Utilisation Rate: - 0%-90%: 30% Reward Split to lender - 90%-95%: linear increase to 70% split - >95%: 70% Reward Split to lender 2. Price appreciation of HLP will be based Leverage Size, increasing 2.5% for every 1x: 2x --> 30% 3x --> 32.5% 4x --> 35% ...... 9x --> 47.5% 10x --> 50%
-
*Due to the difference in nature of each LP, a different reward split mechanism is applied to suit each of them
​

Debt Value Adjustment

Vaultka monitors the overall utilization rate of lending vaults and their corresponding strategic vault. For GM Leverage and HLP Leverage, when the utilization rate exceeds 95%, the debt size of all open leveraged positions will incrementally increase by 0.2% every day.
This mechanism increases the debt value of the positions, ensuring that more value is returned to lenders when the leveraged positions are eventually closed. It serves as a safeguard to prevent leveraged users from depleting all the capital from lenders and offers compensation to lenders for sustaining their positions despite the high utilization rate.
​

Maximum lending limit to a Strategic Vault

Under the Pay-in-Advance model, a maximum lending limit will be enforced for each Strategic Vault. This maximum cap will undergo weekly review and adjustments by the protocol to align with the demand and growth of each leverage vault. This proactive approach ensures that risks linked to a particular strategic vault can be managed and minimized, safeguarding the overall stability of the lending pool.
The lending limit will be displayed in the Strategic vault as "Borrow Capacity", so that users can review the remaining capacity for borrowing.
​
Lending
Vault
Reward Split Model
Max Utilisation
GLP Neutral (v-WATER)
100%
GLP Leverage (v1-WATER)
100%
GM Leverage (v2-WATER)
100%
gDAI Leverage (w-WATER)
100%
VLP Leverage (s-WATER)
100%
HLP Leverage (r-WATER)
100%
LLP Leverage (m-WATER)
100%
*Due to the difference in nature of each LP, a different reward split mechanism is applied to suit each of them
​

Rebalance Trigger

According to our intensive backtest, the below rebalance criteria results in the most profitable risk-adjusted return:
Rebalance criteria
Trigger threshold
Time period
3 hours
Delta Drift
7%
Health Factor
1.2x
​
Amount of Single Transaction for Rebalancing
To be cost-effective and concerned on slippage, the transaction amount is limited to:
Constraint
Value ($)
Minimum amount
$20
Maximum amount (BTC)
$80k
Maximum amount (ETH)
$250k
​

Auto-Compound Threshold

To be cost-effective, auto-compound is executed only when the threshold amount is reached and rebalancing is triggered:
Action
Threshold ($)
Harvest reward
$50
Convert USDC to sGLP
$50
​

Slippage Settings

This is to prevent from unexpected high slippage in related to extreme liquidity to ensure the rebalancing cost is minimized while considering the swap feasibility:
Swap Pair
Slippage Setting
GLP / USDC
0.28%
BTC / USDC
0.58%
ETH / USDC
0.23%
​

Utilization Rate of v-WATER Vault & Corresponding Reward Split Ratio

Utilization Range
Min. Reward Split Ratio
Max. Reward Split Ratio
0%-20%
10%
10%
20%-50%
10%
50%
50%-100%
50%
70%
*Reward Split Ratio: % of yield assigned from VODKA to v-WATER in ETH by holder GLP
*The above Reward Split Ratio grows linearly with the Utilization Range.

​

Previous
News
Next - Miscellaneous
Supplementary
Last modified 15d ago