🪄Permissionless Vaults

In this document, you will learn to permissionlessly create your own vault on Mito.It is highly suggested to carefully read and understand this entire guide before creating a Vault.

• Every new Vault must be linked to an existing INJ quoted market ID. More than one market ID cannot be used for more than one Vault on Mito.

• Once created, the new vault will not be automaticly swapable on the Mito Swap interface.

• A vault creation incurs a non-refundable fee of 10 INJ.

  • The entire fee is allocated to cover the costs associated with generating orders by the vault.

• During the vault creation process, a minimum first subscription of 50 INJ worth of base and quote assets is required to establish initial liquidity.

How to Create a Permissionless Vault

1 - Market Selection & Vault Details

The first step is to select a market. Only INJ-quoted markets are allowed.

New markets can be created using TokenStation. All chain markets can be viewed at the Injective Explorer, though only INJ-quoted markets can be used to create permissionless vaults.

Vault Configuration

During the creation process, the vault creator can set the following configuration:

• Notional Value Cap: The notional value cap defines the maximum value of the vault's funds. Once this cap is reached, no new subscriptions will be allowed.

Once the vault is created and running, additional parameters can be changed. The predefined values are selected to ensure the best starting parameters, providing an optimal user experience for both project owners and subscribers.

2 - Price & initial liquidity

Token Price

To determine the initial token price, Mito will use the last traded price on that market. If there is no last traded price, the vault creator can set the price quoted in USD. The vault will then set the price in relation to the last traded price of INJ/USDT.

Initial Liquidity

The deposit amount represents the initial funds that the vault will use to start running the strategy and place orders. A minimum of 20 INJ in initial funds is required, though a higher initial investment is encouraged.

Vault Creation Fee

In addition to your initial liquidity amount, you need to have 10 INJ available to cover the vault creation fee. This fee will be fully used to pay for gas for the smart contract vault calls.