SENIOR LAYER · FIXED
12.00% a year
Paid first from vault fees. The junior layer's capital stands between this rate and any bad day.
Swaps between tokenized stocks on Robinhood Chain pay fees every block. Mille cuts that income into two layers: the senior layer is paid a fixed rate first, the junior layer takes everything above it and covers the shortfall when there is one.
Paid first from vault fees. The junior layer's capital stands between this rate and any bad day.
Takes all vault income above the senior rate and absorbs the losses first.
Run it yourself →Each vault provides liquidity to one tokenized-stock pool within ±10% of the day's opening price and earns its share of every swap fee.
The senior layer receives a fixed rate before anyone else. A rough day is covered out of the junior layer's capital.
Everything the vault earns above the senior rate goes to the junior layer. Leverage on fees, first in line for losses.
10% of the junior layer's profit goes to $MILLE holders. On the blend of all vaults, that would have been — per $1M in vaults over the last 7 days.
The cut comes from swap fees paid by real traders, not from printing $MILLE.
A losing day for the junior layer pays nothing to holders. Holders share the upside, not the senior rate.
Every Swap event of the tokenized-stock pools (Uniswap v3) on Robinhood Chain over the last 9 days. Each vault is a 10 ETH reference position within ±10% of the day's opening price; for every swap it earns the fee times its share of the active liquidity at that moment. Pools under 5 ETH of liquidity are left out.
Impermanent loss: when the stock moves against ETH, a liquidity position ends up worth less than simply holding the same tokens. The range is reset daily, so each day's loss is booked. It is subtracted from fees before the layers are paid.
No. It is paid first and cushioned by the junior layer's capital, but a large enough loss can exhaust that cushion. Both layers also keep their exposure to the price of the stock and ETH themselves.
They annualise a real day or week. Fee income swings with trading volume; past days say nothing certain about the next one.