The vaultbacks every ticket.
Deposit USDG, hold shares of the house, and earn the edge on every parlay ticket placed on Mirror.
Assets
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Share price
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Open liability
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Free to withdraw
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Losses stayA losing ticket's stake is kept by the vault. It is the counterparty to every parlay.
Wins are paid in USDGWinning tickets are paid from vault assets in USDG, whatever the ticket was staked in.
5% house edge over fair oddsEach leg's target is set so its tier IS its fair odds — a 3x leg has a one-in-three chance of touching. The quote then pays 5% under those fair odds, and over many tickets that edge accrues to the share price.
80% of fees burn $MIRRORFour fifths of protocol fees buy back and burn $MIRROR. The rest funds the vault.
Withdrawable = assets − open liabilityOpen tickets reserve their max payout. What's left is what depositors can pull.
Tokens swap on entryMIRROR deposits are swapped to USDG at the current price. Shares are always USDG-denominated.