Fees & Parameters
Last updated
Last updated
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%
-
0%
-
0.2%
-
*Zero Deposit fee willl be collected from All Vaults
0%
0.2%
0%
0.2%
0%
0.2%
0%
0.2%
0%
0.2%
0%
0.2%
*Zero Deposit fee willl be collected from Lending Pools
18% of GLP APR before distribution to DILUTED VODKA & v-WATER
0%
15% of GLP APR before distribution to leverage user & lending
0%
15% of gDAI APR before distribution to leverage user & lending
0%
15% of VLP APR before distribution to leverage user & lending
0%
15% of GM APR before distribution to leverage user & lending
0%
15% of HLP APR before distribution to leverage user & lending
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
-
0%
No Management Fee
15% of ALP APR before distribution to leverage user & lending
0%
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 collected by the Liquidator.
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
-
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
-
95%
Based on Leverage Size, increase 2.5% for every 1x: 2x --> 30% 3x --> 32.5% 4x --> 35% ...... 9x --> 47.5% 10x --> 50%
-
95%
Based on Leverage Size, increase 2.5% for every 1x: 2x --> 30% 3x --> 32.5% 4x --> 35% ...... 9x --> 47.5% 10x --> 50%
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%
-
95%
For ALP Leverage, reward split will be in two parts: 1. Claimable CAKE 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 ALP 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
After 70 days, the protocol reserves the right to close leverage positions on behalf of users. To minimize potential risks from price fluctuations, users are strongly encouraged to close their positions before the expiration date. This ensures a smooth turnover and timely return of liquidity to lenders.
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
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
According to our intensive backtest, the below rebalance criteria results in the most profitable risk-adjusted return:
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:
Minimum amount
$20
Maximum amount (BTC)
$80k
Maximum amount (ETH)
$250k
To be cost-effective, auto-compound is executed only when the threshold amount is reached and rebalancing is triggered:
Harvest reward
$50
Convert USDC to sGLP
$50
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:
GLP / USDC
0.28%
BTC / USDC
0.58%
ETH / USDC
0.23%
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.
15% of GM APR before distribution toleverage user & lending (Waived before )
