LP Vault
Back every market from one vault.
The LP Vault is a shared pool of deposits that acts as the market maker behind every 369X market and as the lender for leveraged positions. Depositors share in trading fees and earn airdrop points. They also take the losses when traders win big, so a deposit can shrink.
The vault is the counterparty
When traders are right, the vault pays. Never deposit more than you can afford to lose.
Where the money goes, and where it comes from
A deposit does two jobs. It funds the market maker that quotes prices on every open market, and it lends the borrowed part of leveraged positions. Fee income flows back in; trading and lending losses flow back out.
- In
Deposits
From $10, in the settlement stablecoin. Up to 20 positions per wallet.
- Use
Market making and lending
Backs LMSR quotes on every market and lends to leveraged positions, within a 20%-of-vault borrowing cap.
- Result
Fees in, losses out
Earns its fee share and leverage income; pays out when traders win or a liquidation falls short.
What the vault earns
- LP fee share
- 0.25% of every trade’s value, on buys and sells
- Leverage
- Fees and surpluses from leveraged positions
- Platform fees
- A share of platform fees, set by governance
- Airdrop points
- Points toward a future $369X airdrop, multiplied by lock length
The 0.25% is a share of each trade, not an annual return. What depositors end up with depends on volume, trader results and losses, and can be negative.
Four tiers, four lock periods
Longer locks multiply airdrop points, not returns. After a locked tier ends, its multiplier drops back to 1× so capital keeps cycling. Every tier has a 7-day withdrawal cooldown, which blocks flash-deposit attacks that deposit and withdraw around a single trade.
| Tier | Lock | Relative multiplier | Points multiplier |
|---|---|---|---|
| Flex | None | 1× | |
| 90-day | 90 days | 2× | |
| 180-day | 180 days | 4× | |
| 365-day | 365 days | 8× |
When the vault loses money
Traders are right
If a heavily traded market resolves the way most traders bet, the market maker pays out more than it took in, and the vault covers the difference.
A liquidation falls short
If a price gaps faster than a leveraged position can be closed, the loan isn’t fully repaid. The vault absorbs the gap.
Controls on new activity
Two controls limit how much risk the vault takes on. Leverage borrowing is capped at 20% of the vault. A circuit-breaker restricts new activity if the vault loses 10% in a day. Both act on new activity. Neither can guarantee losses stay within 10% when prices gap suddenly.
Points are not tokens
Airdrop points record participation for a future distribution of $369X. They have no price, can’t be transferred as tokens and don’t promise any particular amount. An 8× multiplier on points is not an 8× return.