edgeX LP Vault
Summary
Ticker: elpUSDT
Underlying venue: edgeX
Underlying product: edgeX eLP (perp LP product)
Base asset: USDT
Vault type: Single-venue perp LP vault
Short description
A tokenised vault for USDT supplied to edgeX's eLP, giving depositors automated access to LP fees and incentives from edgeX's perp markets in a single composable asset.
Description
USDT edgeX LP tokenises a depositor’s USDT into a position in edgeX's eLP, turning it into a liquid, yield-bearing asset that accrues LP fees, funding, and protocol rewards from edgeX's perp markets. Because the position is represented as a standard ERC-20 token, it can be easily transferred, used as collateral, or integrated across DeFi while continuing to track the performance of eLP.
1. How the Vault Works
1.1 Deposits and Shares
You deposit USDT into the USDT edgeX LP Vault.
The vault mints elpUSDT to your address.
elpUSDT represents your share of the vault’s position in eLP and its associated PnL.
As eLP accrues gains or losses, the value of 1 elpUSDT (in USDT terms) moves accordingly.
1.2 Routing to edgeX eLP
The vault deploys capital into edgeX’s eLP:
USDT is allocated into the eLP product based on a defined strategy and caps.
The vault inherits the LP pool’s distribution and exposures across edgeX perp markets.
Yield sources typically include:
Trading fees
Funding payments
Incentive programs if active
1.3 Risk Controls & Monitoring
Axtior monitors:
eLP composition and concentration
LP PnL volatility and drawdowns
Changes to edgeX’s risk engine, fees, and market structure
Based on these signals, the vault may:
Adjust TVL caps or pause new inflows
Reconfigure parameters within the vault’s governance and risk framework
2. Yield Model
elpUSDT yields are driven by:
Fee revenue from perp trading activity on edgeX.
Funding flows captured by the LP pool.
Additional incentives / rewards emitted by edgeX to LPs (if applicable).
The vault’s share price captures net returns after:
Venue-level LP mechanics and fees
Vault-level fees
Realised PnL from market dynamics
3. Who Is This Vault For?
USDT edgeX LP Vault is suitable for:
USDT holders who want targeted LP exposure to edgeX.
Treasuries and funds who want to diversify perp LP allocation across multiple venues.
Integrators building products where edgeX-specific yield is a key component.
You should be comfortable with:
Perp venue and LP risk
Non-trivial drawdowns during adverse trading regimes
The possibility of negative returns over certain periods
4. How to Interact
4.1 Depositing
Choose the USDT edgeX LP Vault in the interface.
Approve USDT spending by the vault contract.
Deposit USDT and receive elpUSDT.
4.2 Holding & Using elpUSDT
While holding elpUSDT:
You participate in the vault’s eLP exposure.
You can transfer elpUSDT, use it where accepted as collateral, or embed it in structured products.
4.3 Redeeming
Initiate redemption of elpUSDT.
The vault unwinds the corresponding eLP exposure on edgeX, respecting venue mechanics.
USDT is returned to your wallet based on your share of the vault’s assets at redemption time.
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