How the shared vault works

LaunchLab uses one pooled vault for players and liquidity. A deposit buys vault shares. Those shares are a proportional claim on the vault, not a fixed USDG balance.

Socialized betting

Every depositor has two roles at the same time:

• You can place a bet against the pool.
• Your vault shares supply part of the liquidity that backs other players.

When another player loses, the vault can gain assets. When another player wins, the vault pays the winning claim. Both changes affect the value of every share. This means your balance can move because of activity that is not your own bet.

Assets, liabilities, and free capacity

The vault tracks:

• pooled assets;
• accepted stakes;
• maximum possible winning claims;
• free capacity that can support new bets or withdrawals.

An accepted bet reserves its worst-case payout until it settles. The vault and quote service reject bets that would exceed the configured risk limits.

What one share means

Your claim is approximately:

your shares / total shares × withdrawable vault assets

That value can be above or below the USDG value that you deposited. A displayed USDG amount is therefore an estimate of what the shares can claim at the current state.

See Your balance for the display model and Withdrawals before you exit.