For vault leaders

What are the benefits of creating a vault as a leader?

Vault leaders receive a 10% profit share for managing the vault. Vaults can be a great way for a trader to share strategies with his or her community.

How do I create a vault?

Anyone can create a vault:

1. Choose a name and write a description for your vault. Note that this cannot be changed later.

2. Deposit a minimum of 100 USDC into your vault.

Creating a vault requires a 100 USDC gas fee, which is distributed to the protocol in the same manner as trading fees.

To ensure vault leaders have skin in the game, you must maintain ≥5% of the vault at all times. You cannot withdraw from your vault if it would cause your share to fall below 5%.

How do I manage my vault?

On the Trade page, select the address dropdown in the navigation bar. Select the vault you want to trade on behalf of in the dropdown. Now, all trades you make will apply to your vault, and everything on the Trade page will reflect your vault.

To switch back to your personal account, select "Master" at the top of the address dropdown.

How do I close my vault?

On your vault’s dedicated page, click the Leader Actions dropdown and select “Close Vault”. A modal will appear to confirm that you want to close your vault. All positions must be closed before the vault can close. All depositors will receive their share of the vault when it is closed.

What happens to open positions in a vault when someone withdraws?

When someone withdraws from a vault, if there is enough initial margin to keep the open positions according to the leverages set, the withdrawal does not affect open positions.

If there is not enough initial margin for the open positions, a proportional amount of the withdrawal is closed for all open positions. For example, if a user comprised 10% of the vault’s total deposits, 10% of all open positions would be closed when they withdraw. This way, the liquidation price of any open orders stays in a similar range.

Vault leaders can also set vaults to always proportionally close positions on withdrawals to maintain similar liquidation prices for positions.

Open orders that are using margin will be canceled when there is insufficient margin for a withdrawal. Orders will be canceled in increasing order of margin used.