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

dMSTRLive

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 12 s ago
Leverage bandin band
Leverage 2.09xband 1.8–2.3x · hard delever 2.6x
2.09x
dMSTR realised leverage 2.09x; realised leverage = notional ÷ NAV; the keeper rebalances outside the band
1.80x2.00x2.30x2.60x
Venue equity / notionalbetween floor and ceiling
Margin 24.2% of notionalfloor 17.9% · target 25% · ceiling 32.1%
24.2%
dMSTR equity / notional 24.2%; venue equity ÷ notional; top-up below the floor, withdraw above the ceiling, liquidation at the venue's maintenance
17.9%25%32.1%17.9%

Action ladder

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

impact pricing
−16%
−11%
−5%
+5%
+11%
+16%
$122.28
$123.71
$134.13
$137.01
$138.98
$153.85
$130.08
If the price falls
  1. Band edge 1.80x−4.9% · $123.71
    Rebalance up to target (external session only)
  2. Margin ceiling 32.1% of notional−6.0% · $122.28
    Withdraw excess collateral to idle
If the price rises
  1. Band edge 2.30x+3.1% · $134.13
    Rebalance down to target (any hour)
  2. Margin floor 17.9% of notional+5.3% · $137.01
    Top up collateral from idle
  3. Hard delever 2.60x+6.8% · $138.98
    Emergency delever to target, market order
  4. Liquidation (est.)+18.3% · $153.85
    Phoenix liquidates the account; the stop and top-ups sit well before this

Computed from realised leverage 2.086x and venue equity at 24.2% of notional at mark $130.08, 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 5.0% 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 1.8x–2.3xHard delever 2.6xRebalanceEmergency 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 17.9% – ceiling 32.1%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 vault2,404 of 4,858 USDC · 49.5%
Collateral at Phoenix (share of NAV)2,593 USDC · equity 24.2% of notional
Pending redemptionsnone
Cap used$4,857.65 of $250.0K
LP supply
5,000 dMSTR
Token price
0.971529 USDC
Unrealised PnL
−142.44 USDC
Funding (annualised)
—

Session

How the underlying is being priced right now.

impact pricingImpact pricing

The underlying exchange is closed. Phoenix prices the market from its own order flow, bounded to 1/max-leverage from the last external print. NAV marks to that price. Only defensive rebalances run; NAV shows "internal pricing".

Mark
$130.08
Index
none (no external print)
Pool price
no pool
Premium to NAV
—
Realised vs target
2.086x / 2.0x

Keeper liveness

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

  • keeper-stagingv0.1.0 · surfpool#0 · heartbeat 9 s ago
    stream ✓dGOLD:band ✓dGOLD:stop ✓dGOLD:tick ✓dMSTR:band ✓dMSTR:stop ✓dMSTR:tick ✓uGOLD:band ✓uGOLD:stop ✓uGOLD:tick ✓uMSTR:band ✓uMSTR:stop ✓uMSTR:tick ✓dGOLD:crank ✓dGOLD:guard ✓dMSTR:crank ✓dMSTR:guard ✓dUS100:band ✓dUS100:stop ✓dUS100:tick ✓dUS500:band ✓dUS500:stop ✓dUS500:tick ✓uGOLD:crank ✓uGOLD:guard ✓uMSTR:crank ✓uMSTR:guard ✓uUS100:band ✓uUS100:stop ✓uUS100:tick ✓uUS500:band ✓uUS500:stop ✓uUS500:tick ✓dGOLD:inflow ✓dGOLD:margin ✓dGOLD:redeem ✓dMSTR:inflow ✓dMSTR:margin ✓dMSTR:redeem ✓dUS100:crank ✓dUS100:guard ✓dUS500:crank ✓dUS500:guard ✓dWTIOIL:band ✓dWTIOIL:stop ✓dWTIOIL:tick ✓uGOLD:inflow ✓uGOLD:margin ✓uGOLD:redeem ✓uMSTR:inflow ✓uMSTR:margin ✓uMSTR:redeem ✓uUS100:crank ✓uUS100:guard ✓uUS500:crank ✓uUS500:guard ✓uWTIOIL:band ✓uWTIOIL:stop ✓uWTIOIL:tick ✓dGOLD:harvest ✗ 3dMSTR:harvest ✗ 3dUS100:inflow ✓dUS100:margin ✓dUS100:redeem ✓dUS500:inflow ✓dUS500:margin ✓dUS500:redeem ✓dWTIOIL:crank ✓dWTIOIL:guard ✓uGOLD:harvest ✗ 3uMSTR:harvest ✗ 3uUS100:inflow ✓uUS100:margin ✓uUS100:redeem ✓uUS500:inflow ✓uUS500:margin ✓uUS500:redeem ✓uWTIOIL:crank ✓uWTIOIL:guard ✓dUS100:harvest ✗ 3dUS500:harvest ✗ 3dWTIOIL:inflow ✓dWTIOIL:margin ✓dWTIOIL:redeem ✓uUS100:harvest ✗ 3uUS500:harvest ✗ 3uWTIOIL:inflow ✓uWTIOIL:margin ✓uWTIOIL:redeem ✓dWTIOIL:harvest ✗ 3uWTIOIL:harvest ✗ 3

Alerts · 1 open

Raised by the keeper, resolved when the condition clears.

  • warning
    TICK_FAILED · dMSTR13 Sep 09:23 UTC
    dMSTR: tick failed: voltr readVault DNc1dRAUxE9rsr7kUQgCBwCShGhqT8dx6Soz4PXnsxWo did not settle within 15000 ms
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 20:41 UTC → resolved 44 s ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 20:38 UTC → resolved 5 min ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 20:36 UTC → resolved 6 min ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 20:12 UTC → resolved 30 min ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:59 UTC → resolved 44 min ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:54 UTC → resolved 48 min ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:51 UTC → resolved 51 min ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:44 UTC → resolved 58 min ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:21 UTC → resolved 1.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:19 UTC → resolved 1.4 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:17 UTC → resolved 1.4 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 19:11 UTC → resolved 1.5 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:56 UTC → resolved 1.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:56 UTC → resolved 1.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:55 UTC → resolved 1.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:52 UTC → resolved 1.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:41 UTC → resolved 2.0 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:39 UTC → resolved 2.1 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:36 UTC → resolved 2.1 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:23 UTC → resolved 2.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 18:19 UTC → resolved 2.4 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 17:07 UTC → resolved 3.6 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:58 UTC → resolved 3.7 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:54 UTC → resolved 3.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:52 UTC → resolved 3.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:44 UTC → resolved 4.0 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:22 UTC → resolved 4.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:21 UTC → resolved 4.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:20 UTC → resolved 4.4 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:05 UTC → resolved 4.6 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 16:00 UTC → resolved 4.7 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 15:51 UTC → resolved 4.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 15:26 UTC → resolved 5.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 15:21 UTC → resolved 5.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 15:06 UTC → resolved 5.6 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 15:00 UTC → resolved 5.7 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:52 UTC → resolved 5.8 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:48 UTC → resolved 5.9 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:47 UTC → resolved 5.9 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:41 UTC → resolved 6.0 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:33 UTC → resolved 6.2 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:24 UTC → resolved 6.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:17 UTC → resolved 6.4 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:14 UTC → resolved 6.5 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:12 UTC → resolved 6.5 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:10 UTC → resolved 6.5 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 14:05 UTC → resolved 6.6 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 13:58 UTC → resolved 6.7 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    DEPTH_UNAVAILABLE · dMSTR13 Sep 13:24 UTC → resolved 7.3 h ago
    dMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth

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.