PLP vault
Provide liquidity to every Perpsons market. Earn from trader losses, net funding and 30% of trading fees. Deposits unlock after 4 days.
The PLP vault opens at launch
Live prices are on. Deposits, the share price and its history appear once the Perpsons contracts are deployed on Robinhood Chain.
Deposit or withdraw
Deposits open at launch
The vault accepts USDG once the Perpsons contracts are live on Robinhood Chain.
A deposit locks all of your PLP for 4 days. You approve the exact amount, never more.
Share price and TVL history
Share price and TVL history appear once the vault is live.
Where returns come from
All time, realized flows
| Flow | Received | Paid | Net |
|---|---|---|---|
| Trading feesThe vault's share of trading fees: 30% of every fee after referral rebates (the rest goes to the treasury). The vault never pays fees. | —— | —— | —— |
| Trader PnLReceived: losses of traders who closed below entry. Paid: profits of traders who closed above entry. | —— | —— | —— |
| FundingFunding follows open-interest skew, so the crowded side pays the vault and the vault pays the other side. | —— | —— | —— |
| LiquidationsMargin left after a liquidation, net of the liquidator reward. The vault never pays liquidators. | —— | —— | —— |
| Total | —— | —— | —— |
Flows are recorded on-chain by the vault once it is live.
Risks
Only deposit what you can afford to lose.
Counterparty to every trader
PLP takes the other side of every position on all 32 markets. The share price moves with traders' open and closed PnL and with funding. 30% of each trading fee (after referral rebates) goes to the vault and the rest to the treasury.
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.
Stocks gap at the open
Stocks and ETFs trade only in the NYSE regular session. Overnight and over weekends their price can jump, so a position can reopen past its liquidation price. 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.
Gap timing by other LPs
While the session is closed the share price uses the last stored stock and ETF prices, and those positions cannot be liquidated. A move that shows after hours reaches the share price at the open, so an unlocked LP can time an exit or entry around a known gap. Open interest caps limit it.
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.
Oracle risk
One price signer, run by the operator, signs every price. The oracle accepts a signed price only within 1% of the market's Chainlink reference on Robinhood Chain, and with a 1% fee on each side a price at the edges of that band cannot be traded for a profit. Delayed or missing prices, or a stale reference, still mean late fills and late liquidations at the vault's expense.
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.