System Visualisation

A high level overview of the permissionless perps listing process.

1. Project wants a perp.

2. We chat with project around the amount of supply they wish to loan us, and their revenue projections.

3. Project agrees terms and loans the solver x% of their supply. Usually loan is between 1%-5%, and a bigger % loaned means more OI ⇒ more volume ⇒ more profits.

4. We list their token as a perp.

5. Users trade their token on Vibe. The solver employs various trading/hedging strategies to best suit market conditions.

6. The solver (that facilitates trading) makes profit through spreads, funding rates, liquidations, losing trades.

7. Between 75%-85% of solver profits are periodically given back to the project. Percentages are dependent on volume.