What vLX is
When a user deposits USDC into the LiberX Vault, the protocol mints vLX tokens at the current valuePerShare. vLX represents a proportional claim on the vault's inventory.
Why separate from LBX
LBX and vLX serve different risk profiles:
- LBX — long-term governance exposure, illiquid staking.
- vLX — market-making P&L, daily mark-to-market, withdrawable with a 24 h cooldown.
Keeping them separate prevents vault drawdowns from leaking into governance weight.