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Robinhood Chain
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PLP vault
Robinhood Chain

PLP vault

Provide liquidity to every PonPerp market. Earn from trader losses and net funding. Deposits unlock after 4 days.

Vault contract
TVLNet asset value: USDG held by the vault minus traders' open profit, plus their open losses (counted at most up to the margin of each market side).
Share priceUSDG value of one PLP share. It started at $1.00 and moves with trader PnL and funding.
APR (30d)Share-price change between daily snapshots over the last 30 days, annualized without compounding. Past returns do not predict future returns.
LiquidityUSDG held by the vault. Part of it backs open positions, so withdrawals are limited to the free amount.
Your depositWhat your PLP would withdraw now, after any withdraw fee.
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Your PnLCurrent value plus everything withdrawn, minus everything deposited from this wallet. PLP moved between wallets is not counted.
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Connect a wallet
Unlocks inWithdrawals and PLP transfers open when the lock ends. A new deposit restarts the lock for all of your PLP.
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Connect a wallet

Deposit or withdraw

Wallet balance—
You receiveEstimated with on-chain prices. Your transaction uses live prices, so the final amount can differ.—
Minimum receivedThe deposit reverts if it would mint fewer shares than this (0.5% slippage tolerance).—
Share price—
Unlocks4 days after deposit
Oracle updateThe transaction attaches signed RedStone prices for all 12 markets, so the vault's value is marked to current prices when your shares are priced.12 feeds

A deposit locks all of your PLP for 4 days. You approve the exact amount, never more.

Share price and TVL history

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No history yet

Where returns come from

All time, realized flows

Vault flows by kind: received, paid and net, in USD
FlowReceivedPaidNet
Trading feesTrading fees the vault received while it had a fee share. All trading fees now go to the treasury (after referral rebates), so this no longer grows. The vault never pays fees.
Fee share
Trader PnLReceived: losses of traders who closed below entry. Paid: profits of traders who closed above entry.
Trader losses vs trader profits
FundingFunding follows open-interest skew, so the crowded side pays the vault and the vault pays the other side.
Paid by traders vs paid to traders
LiquidationsMargin left after a liquidation, net of the liquidator reward. The vault never pays liquidators.
Leftover margin
Total

Open positions are not included until they close. Their unrealized PnL is already in TVL and the share price.

Risks

Only deposit what you can afford to lose.

  1. 1

    Counterparty to every trader

    PLP takes the other side of every position on all 12 markets. The share price moves with traders' open and closed PnL and with funding. Trading fees go to the treasury, not to the vault.

  2. 2

    Losses when traders win

    When traders close in profit, the vault pays them. A strong trend or a run of winning traders can lower the share price for days or weeks.

  3. 3

    Weekend and overnight gaps

    Stocks and gold stop trading while their markets are closed. A position can reopen past its liquidation price, and the shortfall is bad debt that the vault absorbs. Open losses count in the share price only up to the margin of their market side.

  4. 4

    Gap timing by other LPs

    While a session is closed the share price uses the last stored stock and gold prices and those positions cannot be liquidated. A move that shows after hours reaches the share price at the reopen, so an unlocked LP can time an exit or entry around a known gap. Open interest caps limit it.

  5. 5

    Smart-contract risk

    Smart contracts can contain bugs, and these contracts are not upgradeable. A bug in the engine, vault or oracle could lose part or all of the deposits.

  6. 6

    Oracle risk

    Prices come from RedStone signed packages verified on-chain. Wrong, delayed or missing prices can cause bad fills or late liquidations at the vault's expense. TSM, SPCX and AVGO currently rely on a single signer.

  7. 7

    4-day lock-up

    Each deposit locks all of your PLP for 4 days, whatever the market does. After the lock, withdrawals can still be limited by the liquidity that backs open positions.

ConnectingOracle prices are delayed. Market orders may wait for a fresh price.Oracle —Index offlineRobinhood Chain
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