vvPLSPLS-backed vault
PulseChain · 369

vPLS DOCUMENTATION

Understand it
before you use it.

A plain-language guide to what backs vPLS, what you pay, how exits work, and which risks remain.

OVERVIEW

What vPLS is

vPLS is a vault share backed by PLS held and accounted for by the deployed smart contract. You deposit PLS and receive vPLS. When you exit, you return vPLS, select a waiting period, and later claim PLS.

vPLS is not a stablecoin.Its value is measured in PLS, not dollars. If the dollar price of PLS moves, the dollar value of vPLS moves too.

BACKING

How the redemption value is calculated

The vault does not treat its raw wallet balance as backing. It separates PLS into named accounting buckets so that funds reserved for withdrawals, rewards, or permanent safety reserves cannot be counted twice.

  • Active backing: PLS currently supporting redeemable vPLS shares.
  • Withdrawal liabilities: PLS already set aside for accepted withdrawal requests.
  • Locked reserve: permanently retained PLS that strengthens the vault but is excluded from the redeemable share price.
  • Holder rewards: PLS owed to qualifying holders from processed revenue epochs.
  • Unclassified PLS: unexpected direct transfers; visible, but excluded from pricing.

The displayed PLS/vPLS rate is the contract’s released redemption rate. It is not an AMM price and it is not a promise of a dollar value.

FEES & TOKENOMICS

Current fee schedule

ActionFeeTiming
Deposit PLS0.25%Immediate mint
Fast withdrawal1.00%1 hour
Standard withdrawal0.50%24 hours
Patient withdrawal0.20%7 days
Reserve-friendly withdrawal0.00%30 days

After seven days of maturation, fee revenue is allocated 75% to eligible historical vPLS holders, 20% to the permanently locked safety reserve, and 5% to fully backed founder vPLS locked for six months. Holder rewards depend on actual fees and are not guaranteed yield.

Network gas is separate and is paid to PulseChain validators. The interface shows a contract quote before asking your wallet to sign.

WITHDRAWALS

Request first, claim later

Holding time does not count toward the withdrawal wait.The lane clock starts when the withdrawal request is submitted. Someone who held vPLS for 60 days and then selects the 24-hour lane still pays 0.50% and waits another 24 hours. A fee-free exit always requires waiting 30 days after the request.
  1. Choose how much vPLS to redeem.
  2. Select a lane. Shorter waits cost more.
  3. Review the quoted PLS amount and unlock time.
  4. Sign the withdrawal request. Your vPLS is burned and PLS is reserved.
  5. After the unlock time, claim from My Withdrawals.

A request cannot be claimed early. Batch claims are all-or-nothing: one invalid or locked ID causes the entire batch to fail.

REVENUE

Delayed and assigned by epoch

Protocol revenue waits seven days before processing. Eligibility is tied to a historical holder cutoff so someone cannot deposit after revenue arrives and capture rewards earned before they joined. Processing and eligible claims are permissionless.

FOUNDER ALLOCATION

Backed before it is minted

Five percent of matured fee revenue may fund founder vPLS. The vault uses actual PLS to acquire the shares, and each monthly tranche remains locked for six months in the separate vesting contract. No unbacked founder shares can be created through this process.

SAFETY CONTROLS

Defense in depth

  • The interface verifies the production address, runtime code, immutable configuration, caps, guardian, founder vesting address, and solvency before enabling writes.
  • Every transaction is simulated before it is sent to your wallet.
  • Quotes include a 0.50% minimum-output tolerance and a 15-minute deadline.
  • Accounting uses internal buckets rather than the raw balance.
  • Reentrancy protection and checks-effects-interactions ordering protect value-moving paths.
  • Supply and accounted-PLS caps are immutable.
  • Withdrawal claims remain available during operational pauses.

No smart contract is risk-free. Independent review, careful wallet security, and small initial transactions remain important.

GUARDIAN

Limited emergency powers

The guardian is a 2-of-3 Safe. It can pause selected operations during an incident, but it cannot rewrite immutable fees or caps, arbitrarily mint vPLS, confiscate user shares, or withdraw accounted backing. Guardian signatures do not need to happen at the same moment; Safe collects them until the threshold is met.

RISKS

What users should consider

  • PLS market risk: vPLS follows PLS exposure and can lose dollar value.
  • Smart-contract risk: audits reduce risk but cannot prove the absence of every defect.
  • Liquidity risk: AMM prices may differ from the contract redemption rate, especially in a small pool.
  • Delay risk: withdrawals require the selected waiting period.
  • Wallet risk: compromised keys or malicious approvals can cause loss.
  • Network/RPC risk: congestion or unavailable RPC services can delay reads and transactions.

VERIFY

Production contracts

vPLS vault
0x0E5cC099cc9575081Dcc80ee9fAA02364B7C2E0B
Founder vesting
0x9ba70C52Ee890BE119150F993cF0439D5a902913
Guardian Safe
0xe87ADE9ac380e98D5eA03CF4c207Cde1b5278F62
Verified sourceDeployment transactionOpen dashboard