USDC Vault

The stable vault ensures a seamless trading experience for users, gives stability to the system and amplifies our capital efficiency by an order of magnitude.

What does the vault do and how?

The vault is the smart contract where the USDC from negative PnL trades goes to and where the USDC to pay out traders comes from. Anyone can stake USDC in the vault and earn USDC rewards from fees based on the platform's trading volume. Stakers in the vault are rewarded highly as they bear risk associated with platform function. That is, they risk wearing losses if the vault became collateralised and did not return to sufficient collateralisation.

The staked USDC can only be withdrawn at a max rate of 25% of your maximum holdings (from the last time you staked) every 24h. This means if you have 1000 USDC in the vault, you can withdraw 250 DAI every 24 hours and will have withdrawn the entirety after 4 days.

The vault will always aim at staying over-collaterised. At present this is set to 10%. If the vault is more than 10% over-collaterised because the vault is in sufficient profit, the vault will use the extra USDC to market buy QQ and burn it.

Note:QIQ is now available on the public testnet! USDC is a token that is exclusively issued by the platform, and it is not equivalent to the USDC tokens that are available on the market. To obtain USDC, you can visit this link: https://rc.qilin.fi/nft/ .