mUSDG Vault
The vault
mUSDG: the LP token that never bets against you. Deposit USDG, earn fees, risk premium and funding, delta-hedged.
Status
Pre-launch — Moorix is not live yet. Parameters are illustrative and tunable at launch.
What mUSDG is
mUSDG is the LP token of the Moorix vault. Deposit USDG, receive mUSDG. On Robinhood Chain, minting is instant.
What it earns
| Source | Where it comes from |
|---|---|
| Fees | Trading on the venue |
| Risk premium | Streamed from every defined-risk position, as rent for holding its tail |
| Funding | Funding payments on the book |
No yield figure is published yet.
It never bets against you
The vault runs flat. It is delta-hedged natively: Moorix hedges the vault from inside the protocol, where others bolt hedging on from outside (hJLP, Vectis, Hedgy).
Senior tranche
mUSDG is the senior tranche. Staked $MORX (sMORX) is the junior tranche that guards the vault's tail. mUSDG sleeps soundly; sMORX stands the night shift and earns for it. See Tranches.
Capacity
Deposits are capacity-limited. 1 staked $MORX opens 10 USDG of mUSDG deposit capacity, and each rank carries a capacity: 10K USDG at Deckhand up to 10M USDG at Admiral. See Tranches.
Also collateral
mUSDG can be posted as margin at a 95% haircut.
Open source
The whitepaper lists open-source vault and risk contracts among the developer tools. Not deployed yet: see Contract addresses.