Demo on a mainnet fork: the real Upside program, the real Voltr and Phoenix programs, live Phoenix prices; only the USDC is test money. Nothing here is real money. What that means
upside

Transparency

dUS500Live

What backs the token, where the keeper’s lines are, and every action it has taken. Read straight from the keeper’s own records.

Last snapshot 11 s ago
Leverage bandin band
Leverage 2.88xband 2.7–3.3x · hard delever 4x
2.88x
dUS500 realised leverage 2.88x; realised leverage = notional ÷ NAV; the keeper rebalances outside the band
2.70x3.00x3.30x4.00x
Venue equity / notionalbetween floor and ceiling
Margin 18.2% of notionalfloor 12.5% · target 17.5% · ceiling 22.5%
18.2%
dUS500 equity / notional 18.2%; venue equity ÷ notional; top-up below the floor, withdraw above the ceiling, liquidation at the venue's maintenance
12.5%17.5%22.5%12.5%

Action ladder

At what underlying move does each keeper action fire, from the latest snapshot and this token's policy.

external index
−13%
−9%
−4%
+4%
+9%
+13%
$730.77
$744.64
$783.12
$795.70
$816.38
$873.35
$757.59
If the price falls
  1. Band edge 2.70x−1.7% · $744.64
    Rebalance up to target (external session only)
  2. Margin ceiling 22.5% of notional−3.5% · $730.77
    Withdraw excess collateral to idle
If the price rises
  1. Band edge 3.30x+3.4% · $783.12
    Rebalance down to target (any hour)
  2. Margin floor 12.5% of notional+5.0% · $795.70
    Top up collateral from idle
  3. Hard delever 4.00x+7.8% · $816.38
    Emergency delever to target, market order
  4. Liquidation (est.)+15.3% · $873.35
    Phoenix liquidates the account; the stop and top-ups sit well before this

Computed from realised leverage 2.882x and venue equity at 18.2% of notional at mark $757.59, holding everything else fixed. Margin distances follow this token's own policy: lower tiers post more collateral, so a 2x token has further to fall than a 3x one (D27). Liquidation is where equity reaches the 2.5% maintenance margin Phoenix requires on notional (registry value, Q13); the on-chain stop and the keeper's top-ups are designed to act well before it. Estimates for reading, not for trading.

Leverage over time

Realised leverage against the band, the target and the hard-delever line. Markers are keeper actions; hover for reason, before/after and fill.

Realised leverageBand 2.7x–3.3xHard delever 4.0xRebalanceEmergency delever

Margin over time

Venue equity (collateral plus unrealised PnL) as a share of notional, against the floor, target and ceiling. Distances do not depend on leverage. Top-ups and withdrawals are the keeper's margin loop; the stop is refreshed after every rebalance.

Venue equity / notionalFloor 12.5% – ceiling 22.5%Top-upWithdraw excessStop set

Buffers and capacity

Idle USDC pays instant redemptions and Jupiter sells; collateral sits at Phoenix; the cap bounds TVL against Phoenix depth.

Idle USDC in vault2,375 of 4,983 USDC · 47.7%
Collateral at Phoenix (share of NAV)2,620 USDC · equity 18.2% of notional
Pending redemptionsnone
Cap used$4,982.75 of $250.0K
LP supply
5,000 dUS500
Token price
0.996550 USDC
Unrealised PnL
−11.87 USDC
Funding (annualised)
—

Session

How the underlying is being priced right now.

external indexExternal index live

The underlying exchange is open. Phoenix marks track the external index, and the keeper cranks NAV every 20–30 s. Expansion and defensive rebalances both run.

Mark
$757.59
Index
$757.32
Pool price
no pool
Premium to NAV
—
Realised vs target
2.882x / 3.0x

Keeper liveness

Heartbeats, halted flag and per-loop status. Two keepers on different RPCs are the target.

  • keeper-stagingv0.1.0 · surfpool#0 · heartbeat 3 s ago
    stream ✓dAAPL:band ✓dAAPL:stop ✓dAAPL:tick ✓dGOLD:band ✓dGOLD:stop ✓dGOLD:tick ✓dMSTR:band ✓dMSTR:stop ✓dMSTR:tick ✓dNVDA:band ✓dNVDA:stop ✓dNVDA:tick ✓dSPCX:band ✓dSPCX:stop ✓dSPCX:tick ✓uAAPL:band ✓uAAPL:stop ✓uAAPL:tick ✓uGOLD:band ✓uGOLD:stop ✓uGOLD:tick ✓uMSTR:band ✓uMSTR:stop ✓uMSTR:tick ✓uNVDA:band ✓uNVDA:stop ✓uNVDA:tick ✓uSPCX:band ✓uSPCX:stop ✓uSPCX:tick ✓dAAPL:crank ✓dAAPL:guard ✓dGOLD:crank ✓dGOLD:guard ✓dMSTR:crank ✓dMSTR:guard ✓dNVDA:crank ✓dNVDA:guard ✓dSPCX:crank ✓dSPCX:guard ✓dUS100:band ✓dUS100:stop ✓dUS100:tick ✓dUS500:band ✓dUS500:stop ✓dUS500:tick ✓uAAPL:crank ✓uAAPL:guard ✓uGOLD:crank ✓uGOLD:guard ✓uMSTR:crank ✓uMSTR:guard ✓uNVDA:crank ✓uNVDA:guard ✓uSPCX:crank ✓uSPCX:guard ✓uUS100:band ✓uUS100:stop ✓uUS100:tick ✓uUS500:band ✓uUS500:stop ✓uUS500:tick ✓dAAPL:inflow ✓dAAPL:margin ✓dAAPL:redeem ✓dGOLD:inflow ✓dGOLD:margin ✓dGOLD:redeem ✓dMSTR:inflow ✓dMSTR:margin ✓dMSTR:redeem ✓dNVDA:inflow ✓dNVDA:margin ✓dNVDA:redeem ✓dSPCX:inflow ✓dSPCX:margin ✓dSPCX:redeem ✓dUS100:crank ✓dUS100:guard ✓dUS500:crank ✓dUS500:guard ✓dWTIOIL:band ✓dWTIOIL:stop ✓dWTIOIL:tick ✓uAAPL:inflow ✓uAAPL:margin ✓uAAPL:redeem ✓uGOLD:inflow ✓uGOLD:margin ✓uGOLD:redeem ✓uMSTR:inflow ✓uMSTR:margin ✗ 3uMSTR:redeem ✓uNVDA:inflow ✓uNVDA:margin ✓uNVDA:redeem ✓uSPCX:inflow ✓uSPCX:margin ✓uSPCX:redeem ✓uUS100:crank ✓uUS100:guard ✓uUS500:crank ✓uUS500:guard ✓uWTIOIL:band ✓uWTIOIL:stop ✓uWTIOIL:tick ✓dAAPL:harvest ✗ 1dGOLD:harvest ✗ 1dMSTR:harvest ✗ 1dNVDA:harvest ✗ 1dSPCX:harvest ✓dUS100:inflow ✓dUS100:margin ✓dUS100:redeem ✓dUS500:inflow ✓dUS500:margin ✓dUS500:redeem ✓dWTIOIL:crank ✓dWTIOIL:guard ✓uAAPL:harvest ✗ 1uGOLD:harvest ✗ 1uMSTR:harvest ✗ 1uNVDA:harvest ✓uSPCX:harvest ✗ 1uUS100:inflow ✓uUS100:margin ✓uUS100:redeem ✓uUS500:inflow ✓uUS500:margin ✓uUS500:redeem ✓uWTIOIL:crank ✓uWTIOIL:guard ✓dUS100:harvest ✗ 1dUS500:harvest ✗ 1dWTIOIL:inflow ✓dWTIOIL:margin ✓dWTIOIL:redeem ✓uUS100:harvest ✓uUS500:harvest ✓uWTIOIL:inflow ✓uWTIOIL:margin ✓uWTIOIL:redeem ✓dWTIOIL:harvest ✓uWTIOIL:harvest ✗ 1

Alerts · 1 open

Raised by the keeper, resolved when the condition clears.

  • warning
    TICK_FAILED · dUS50015 Sep 14:42 UTC
    dUS500: tick failed: fetch failed
  • warning
    CRANK_STALE · dUS50015 Sep 15:49 UTC → resolved 25 s ago
    dUS500: last crank 104s ago during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 15:42 UTC → resolved 6 min ago
    dUS500: last crank 92s ago during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 15:32 UTC → resolved 15 min ago
    dUS500: last crank 104s ago during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 15:29 UTC → resolved 21 min ago
    dUS500: last crank 104s ago during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 15:24 UTC → resolved 27 min ago
    dUS500: last crank never during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 15:19 UTC → resolved 32 min ago
    dUS500: last crank never during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 15:13 UTC → resolved 37 min ago
    dUS500: last crank never during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 14:58 UTC → resolved 39 min ago
    dUS500: last crank never during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 14:14 UTC → resolved 1.3 h ago
    dUS500: last crank 174s ago during an external session
  • warning
    CRANK_STALE · dUS50015 Sep 14:03 UTC → resolved 1.8 h ago
    dUS500: last crank never during an external session

Event log

Every action planned, sent or observed for this token, newest first.

allrebalanceemergency delevermargin top-upwithdraw excess marginset stopmintredeemcrankkeeper halt
No events of these kinds recorded yet.