Demo on a mainnet fork: real Phoenix prices, test USDC, nothing here is real money. What that means
upside

Transparency

uMSTRLocal

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 1 min ago
Leverage bandin band
2.00x
2.00x, band 1.80x to 2.30x
1.80x2.00x2.30x2.60x
Venue equity / notionalbetween floor and ceiling
24.9%
24.9%, band 17.9% to 32.1%
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
−19%
−13%
−6%
+6%
+13%
+19%
$101.37
$106.05
$115.46
$119.16
$144.08
$146.83
$130.22
If the price falls
  1. Margin floor 17.9% of notional−8.5% · $119.16
    Top up collateral from idle
  2. Band edge 2.30x−11.3% · $115.46
    Rebalance down to target (any hour)
  3. Hard delever 2.60x−18.6% · $106.05
    Emergency delever to target, market order
  4. Liquidation (est.)−22.1% · $101.37
    Phoenix liquidates the account; the stop and top-ups sit well before this
If the price rises
  1. Margin ceiling 32.1% of notional+10.7% · $144.08
    Withdraw excess collateral to idle
  2. Band edge 1.80x+12.8% · $146.83
    Rebalance up to target (external session only)

Computed from realised leverage 2.005x and venue equity at 24.9% of notional at mark $130.22, 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 3.5% 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 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 vault2,500 of 4,988 USDC · 50.1%
Collateral at Phoenix (share of NAV)2,496 USDC · equity 24.9% of notional
Pending redemptionsnone
Cap used$4,987.69 of $250.0K
LP supply
5,000 uMSTR
NAV per token
0.997537 USDC
Unrealised PnL
−9.02 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
$130.22
Index
none (no external print)
Pool price
no pool
Premium to NAV
—
Realised vs target
2.005x / 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 0 s ago
    stream ✓dMSTR:band ✓dMSTR:stop ✓dMSTR:tick ✓dNVDA:band ✓dNVDA:stop ✓dNVDA:tick ✓dTSLA:band ✓dTSLA:stop ✓dTSLA:tick ✓uMSTR:band ✓uMSTR:stop ✓uMSTR:tick ✓uNVDA:band ✓uNVDA:stop ✓uNVDA:tick ✓uTSLA:band ✓uTSLA:stop ✓uTSLA:tick ✓dMSTR:crank ✓dMSTR:guard ✓dNVDA:crank ✓dNVDA:guard ✓dTSLA:crank ✓dTSLA:guard ✓dUS100:band ✓dUS100:stop ✓dUS100:tick ✓dUS500:band ✓dUS500:stop ✓dUS500:tick ✓uMSTR:crank ✓uMSTR:guard ✓uNVDA:crank ✓uNVDA:guard ✓uTSLA:crank ✓uTSLA:guard ✓uUS100:band ✓uUS100:stop ✓uUS100:tick ✓uUS500:band ✓uUS500:stop ✓uUS500:tick ✗ 1dMSTR:inflow ✓dMSTR:margin ✓dMSTR:redeem ✓dNVDA:inflow ✓dNVDA:margin ✓dNVDA:redeem ✓dTSLA:inflow ✓dTSLA:margin ✓dTSLA:redeem ✓dUS100:crank ✓dUS100:guard ✓dUS500:crank ✓dUS500:guard ✓uMSTR:inflow ✓uMSTR:margin ✓uMSTR:redeem ✓uNVDA:inflow ✓uNVDA:margin ✓uNVDA:redeem ✓uTSLA:inflow ✓uTSLA:margin ✓uTSLA:redeem ✓uUS100:crank ✓uUS100:guard ✓uUS500:crank ✓uUS500:guard ✓dMSTR:harvest ✗ 1dNVDA:harvest ✗ 1dTSLA:harvest ✗ 1dUS100:inflow ✓dUS100:margin ✓dUS100:redeem ✓dUS500:inflow ✓dUS500:margin ✓dUS500:redeem ✓uMSTR:harvest ✗ 1uNVDA:harvest ✗ 1uTSLA:harvest ✗ 1uUS100:inflow ✓uUS100:margin ✓uUS100:redeem ✓uUS500:inflow ✓uUS500:margin ✓uUS500:redeem ✓dUS100:harvest ✗ 1dUS500:harvest ✗ 1uUS100:harvest ✗ 1uUS500:harvest ✗ 1
  • keeper-ahaltedv0.1.0 · test · heartbeat 31 min ago (stale)

Alerts

Raised by the keeper, resolved when the condition clears.

  • warning
    TICK_FAILED · uMSTR12 Sep 22:31 UTC → resolved 43 min ago
    uMSTR: tick failed: phoenix /exchange/markets -> 429
  • warning
    DEPTH_UNAVAILABLE · uMSTR12 Sep 22:28 UTC → resolved 48 min ago
    uMSTR: order-book depth unreadable; expansion is refused and defensive slices use the fallback depth
  • warning
    TICK_FAILED · uMSTR12 Sep 21:59 UTC → resolved 1.3 h ago
    uMSTR: tick failed: phoenix /exchange/markets -> 429

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.