cliff> vault
The vault is the other side of every short. Stakers own it in shares. When shorts lose, fees come in and NAV rises. When shorts win, the vault pays out and NAV falls.
The vault can't be read right now. Cliff isn't initialised on this network yet.
Money in
- $CLIFF trading fees, 80% of every sweep
- The 0.30% open fee on every short
- Funding, 0.02% of position size per hour
- Collateral lost by shorts that close at a loss or get liquidated
- Any USDC sent straight to the vault, which raises NAV for everyone
Money out
- Gains paid to shorts that close in profit
- Withdrawals, at NAV, after a 24-hour wait
- Team shares, only after the 30-day lock, through the same withdrawal rules
Risks, plainly
- Your principal is at risk. You can get back less than you put in.
- There is no fixed APY. Returns depend on how traders do.
- The vault is effectively long the listed coins. If they all crash at once, shorts win big and NAV drops.
- Money reserved for open positions can't be withdrawn until those positions close.