plvGLP | Plutus

Minting, Redeeming, & General Vault Function

Users can mint and redeem plvGLP as follows:

Users can deposit GLP for plvGLP at any time
- No fees are incurred when depositing GLP for plvGLP
Users can redeem plvGLP for GLP at any time
- When redeeming plvGLP for GLP there is a 2% exit fee charged in GLP
- Of the 2% exit fee charged, 0.5% goes back into the vault to be split amongst plvGLP stakers and 1.5% goes to Plutus
The vault takes the ETH rewards and auto compounds the position, resulting in plvGLP constantly appreciating in value
- This auto compounding function will be run through an off-chain bot that is run every 8 hours, as plvGLP TVL grows the auto compounding function will be run more frequently
plvGLP is permissionless so it may be built on top of by anybody
- The GLP -> plvGLP minter/redeemer is permissioned

Fees

The fees associated with plvGLP are as follows:

Exit Fee: 2%
- This fee will be incurred when redeeming plvGLP for GLP
- 1.5% goes to Plutus, 0.5% goes back into the vault and is split amongst plvGLP stakers
Vault Fee: 10%
- This fee is applied to the ETH rewards associated with GLP
- Example: GLP is paying out 20% APR in ETH yield, users will receive 18% APR in ETH yield and the other 2% will go to Plutus
Partner Project Exit Fee: Flexible
- In order to ensure that a wide array of products may be built on top of plvGLP we have the capability to reduce the plvGLP exit fee for specific contracts
- This would allow applications of plvGLP that have a high turnover rate to be possible

Emissions

The plvGLP vault will be incentivized with PLS emissions as follows:

plvGLP will receive 15% of PLS liquidity mining emissions
- This amounts to 2,250,000 PLS distributed to plvGLP over 2 years
- In the first month there will be 123,750 PLS emitted to plvGLP stakers
The emissions will be weighted towards the early months. The first month will have the highest emissions and they will decrease every month after that - this is in line with how emissions work for plsASSETs as well.

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Last updated 8 months ago

Minting, Redeeming, & General Vault Function

Users can mint and redeem plvGLP as follows:

Users can deposit GLP for plvGLP at any time

No fees are incurred when depositing GLP for plvGLP

Users can redeem plvGLP for GLP at any time

When redeeming plvGLP for GLP there is a 2% exit fee charged in GLP
Of the 2% exit fee charged, 0.5% goes back into the vault to be split amongst plvGLP stakers and 1.5% goes to Plutus

The vault takes the ETH rewards and auto compounds the position, resulting in plvGLP constantly appreciating in value

This auto compounding function will be run through an off-chain bot that is run every 8 hours, as plvGLP TVL grows the auto compounding function will be run more frequently

plvGLP is permissionless so it may be built on top of by anybody

The GLP -> plvGLP minter/redeemer is permissioned

Fees

The fees associated with plvGLP are as follows:

Exit Fee: 2%

This fee will be incurred when redeeming plvGLP for GLP
1.5% goes to Plutus, 0.5% goes back into the vault and is split amongst plvGLP stakers

Vault Fee: 10%

This fee is applied to the ETH rewards associated with GLP
Example: GLP is paying out 20% APR in ETH yield, users will receive 18% APR in ETH yield and the other 2% will go to Plutus

Partner Project Exit Fee: Flexible

In order to ensure that a wide array of products may be built on top of plvGLP we have the capability to reduce the plvGLP exit fee for specific contracts
This would allow applications of plvGLP that have a high turnover rate to be possible

Emissions

The plvGLP vault will be incentivized with PLS emissions as follows:

plvGLP will receive 15% of PLS liquidity mining emissions

This amounts to 2,250,000 PLS distributed to plvGLP over 2 years
In the first month there will be 123,750 PLS emitted to plvGLP stakers

The emissions will be weighted towards the early months. The first month will have the highest emissions and they will decrease every month after that - this is in line with how emissions work for plsASSETs as well.