Liquidity vault
LPs deposit USDG into the vault, which is the counterparty to every FlyPerps trade. LPs earn trading-fee share, price-impact fees, funding skew and trader losses, and pay out trader profits.
LPs are the counterparty. If traders are net profitable, vault value falls. Profits per position are capped by reserves locked at open, and the insurance fund absorbs bad debt first — but LP capital is at risk. Pre-audit, testnet software.
TVL—USDG
Reserved—Backing open positions
Free liquidity—
Utilization—
Share price—USDG per flpUSDC
Insurance fund—First-loss buffer
Utilization vs cap— / —
New positions reserve their maximum payout. Once reserves reach the cap, new positions are rejected until liquidity frees up.
Your vault position
Connect a wallet to see your shares.