CLP Pool
Deposit kdUSD or card fractions and earn the fees traders pay. The pool is the other side of every trade on the Kadex index.
- Total value locked
- -
- CLP price
- -
- Utilisation
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- Borrow / month
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Liquidity allocation
| Token | Pool size | Weight / cap | Deposit haircut |
|---|---|---|---|
| kdUSDPays winning trades | - | - / no cap | None |
| Card fractionsTokenized graded cards | - | - / - | 3.0% |
- Total supply
- -
Before you deposit
What am I buying?
CLP is a claim on the pool’s net asset value. It holds kdUSD on one side and tokenized card fractions on the other, and it is the counterparty to every open position. You earn the trading and borrowing fees those positions pay. You lose when traders are collectively right.
Where does the income come from?
Mostly borrow, not trading fees. A trader rents the pool’s balance sheet for as long as they hold a position, and that rent rises quadratically with utilisation. It is what pushes traders out before the pool is stretched.
How do I get out?
A redemption returns a proportional slice of both sleeves — kdUSD and card fractions together, never one without the other. The pool cannot be drained of its liquid side by whoever withdraws first, which is the whole point.
Is this the same as the card liquidity pool?
No. Providing liquidity to the card pool itself is a different product with a different risk — if a card’s price moves sharply you hold less of the winning side than if you had kept your cards. A card doubling costs roughly 5.7% against holding it outright.