VIP ladder: how it works

How VIP ladder works

The VIP ladder rewards XPHX locked in the VIP tier locker with a higher level, and a higher level lets you borrow more against the same collateral in every lending market at once, with more room before liquidation. There are five levels above no level: Bronze, 1,100 XPHX; Silver, 6,300 XPHX; Turquoise, 21,000 XPHX; Lapis Lazuli, 63,000 XPHX; Gold, 163,000 XPHX. There is no lock period and no penalty for unlocking. You do not need a level to use the lending markets.

The VIP page: your level, what it changes in each market, and lock or unlock

Locking and unlocking

What counts toward a level?: Only XPHX locked in the VIP tier locker. XPHX in your wallet, XPHX staked in a pool and XPHX supplied to a lending market do not count.
Is there a lock period?: No. There is no lock duration, no cooldown and no unlock penalty. Locking and unlocking are each one transaction.
Can an unlock be refused?: Only when you are borrowing. With no borrowing, an unlock always succeeds. With borrowing, the lending risk engine refuses an unlock that would leave your debt above your borrowing limit at the lower level, because that position would have been refused as a new borrow. Repay some of the debt, or add collateral, and the same unlock succeeds.
Does locking or unlocking pay the XPHX transfer tax?: No. The locker is exempt from the XPHX transfer fee, so what you lock arrives in full and what you unlock returns in full. The site checks the exemption before every deploy.
Does locked XPHX earn reflections?: Yes, but not into your lock. The locker is not excluded from XPHX reflections. What it receives above the XPHX locked in it is shared among lockers in proportion to what each has locked, and you claim your part; your locked amount does not grow by itself.

Levels and what they change

How much XPHX does each level need?: Bronze, 1,100 XPHX; Silver, 6,300 XPHX; Turquoise, 21,000 XPHX; Lapis Lazuli, 63,000 XPHX; Gold, 163,000 XPHX. The thresholds are set in the lending risk engine and read from it by the VIP page. Below the first threshold you have no level, and every lending market is still open to you. The thresholds, read live
What does a higher level change?: Two things, in every lending market at once. Your maximum loan-to-value rises, so the same collateral supports a larger borrow, by a step that each market sets for itself. And you get a little more room before liquidation, a grace added to the point at which a position can be liquidated.
Does a level change the liquidation threshold?: No. Each market has one liquidation threshold for everyone. A level raises how far toward it you may borrow and adds a grace beyond it; it does not move the threshold.
Is a level a reward in itself?: No. A level pays nothing on its own. What it changes is how much you can borrow and how close to liquidation you can go. A separate campaign may pay lockers a reward; when one is running, the VIP page shows it.

Who controls what

Can the admin move locked XPHX?: No. The locker has no sweep, rescue, withdrawal or upgrade function, and it is not behind a proxy. Only the wallet that locked XPHX can unlock it.
What can the admin change?: The thresholds, each market's loan-to-value ladder and the liquidation grace per level, within limits fixed in the risk engine: a ceiling on any loan-to-value, a ladder that never falls as the level rises, and a cap on how much and how often a value can be cut. The admin can also point the unlock check at a different contract and add reward tokens to the locker.

Contracts

On BNB Smart Chain. Each opens on the block explorer.

VIP tier locker0x272b2B4B1C646eB75154f4801bE4F72A480c8af0
Lending risk engine (thresholds and ladders)0x97996708C9fb003C97C1ff26eed93D14cc995905

Stated from the deployed contracts. The settings this page describes as current, such as fee exemptions, fee recipients and thresholds, are read from the chain before every deploy, and a deploy that would publish one of them wrong does not go out. Rates, balances and dates change by the second and are not stated here: they are read live on the product page.

How VIP ladder works

The VIP page: your level, what it changes in each market, and lock or unlock

Locking and unlocking

What counts toward a level?

Only XPHX locked in the VIP tier locker. XPHX in your wallet, XPHX staked in a pool and XPHX supplied to a lending market do not count.

Is there a lock period?

No. There is no lock duration, no cooldown and no unlock penalty. Locking and unlocking are each one transaction.

Can an unlock be refused?

Only when you are borrowing. With no borrowing, an unlock always succeeds. With borrowing, the lending risk engine refuses an unlock that would leave your debt above your borrowing limit at the lower level, because that position would have been refused as a new borrow. Repay some of the debt, or add collateral, and the same unlock succeeds.

Does locking or unlocking pay the XPHX transfer tax?

No. The locker is exempt from the XPHX transfer fee, so what you lock arrives in full and what you unlock returns in full. The site checks the exemption before every deploy.

Does locked XPHX earn reflections?

Yes, but not into your lock. The locker is not excluded from XPHX reflections. What it receives above the XPHX locked in it is shared among lockers in proportion to what each has locked, and you claim your part; your locked amount does not grow by itself.

Levels and what they change

How much XPHX does each level need?

Bronze, 1,100 XPHX; Silver, 6,300 XPHX; Turquoise, 21,000 XPHX; Lapis Lazuli, 63,000 XPHX; Gold, 163,000 XPHX. The thresholds are set in the lending risk engine and read from it by the VIP page. Below the first threshold you have no level, and every lending market is still open to you. The thresholds, read live

What does a higher level change?

Two things, in every lending market at once. Your maximum loan-to-value rises, so the same collateral supports a larger borrow, by a step that each market sets for itself. And you get a little more room before liquidation, a grace added to the point at which a position can be liquidated.

Does a level change the liquidation threshold?

No. Each market has one liquidation threshold for everyone. A level raises how far toward it you may borrow and adds a grace beyond it; it does not move the threshold.

Is a level a reward in itself?

No. A level pays nothing on its own. What it changes is how much you can borrow and how close to liquidation you can go. A separate campaign may pay lockers a reward; when one is running, the VIP page shows it.

Who controls what

Can the admin move locked XPHX?

No. The locker has no sweep, rescue, withdrawal or upgrade function, and it is not behind a proxy. Only the wallet that locked XPHX can unlock it.

What can the admin change?

The thresholds, each market's loan-to-value ladder and the liquidation grace per level, within limits fixed in the risk engine: a ceiling on any loan-to-value, a ladder that never falls as the level rises, and a cap on how much and how often a value can be cut. The admin can also point the unlock check at a different contract and add reward tokens to the locker.