Status
Two launch phases
Phase 1: Closed beta vault (first vault)
The first vault is a short proof-of-concept run. It is primarily for the closed beta Terminal testers who have helped since February.
| Item | Detail |
|---|---|
| Who gets in first | Closed beta Terminal testers have whitelist priority |
| Public backfill | If the $25,000 cap is not filled by testers, remaining spots open to the public |
| Minimum stake | 100,000 $BETTER |
| Deposit cap (total) | $25,000 USDC |
| Per-user deposit limit | Proportional to your share of total staked $BETTER |
| Bid and stake window | 24 hours before the vault calculates total staked $BETTER and each user's allocation |
| Duration | 4 weeks |
| Deposit asset | USDC |
| Receipt tokens | None in the beta vault |
| Withdrawals | Full exit only at the end of the term; no partial withdrawals |
Per-user deposit limit example
If 50,000,000 $BETTER is staked in total and you stake 5,000,000 $BETTER, your deposit allowance is 10% of the $25,000 cap, or $2,500 USDC.
What the 24-hour window means
Users have 24 hours to stake their $BETTER tokens for a given vault. After that window closes, BETTER takes the total $BETTER staked for that vault and calculates each user's percentage share. That percentage sets each user's maximum USDC deposit for that vault.
Phase 2: Public vault
The public vault uses the same 4-week structure but with a larger deposit cap. It may open while the closed beta vault is still running if the beta cap is not filled.
| Item | Detail |
|---|---|
| Access | Public, after the closed beta priority window |
| Minimum stake | 100,000 $BETTER |
| Deposit cap | At least $50,000 USDC; final cap to be announced |
| Duration | 4 weeks for the first public vault |
| Receipt tokens | Planned for later public or mainnet vault iterations, not the first public vault |
Deposit and withdrawal rules
- Minimum deposit: no hard minimum; your cap is determined by your staked share.
- Deposit window: the first vault opens for deposits until the $25,000 total cap is reached, then trading begins.
- Withdrawals: the first vaults are full-exit only. You cannot partially withdraw during the term.
- Staking lock: your qualifying staked
$BETTERstays locked until you fully exit the vault.
Performance fee
BETTER charges a 20% performance fee on profit only, taken once at withdrawal.
The fee basis is a wallet-level high-water mark. BETTER only charges on new net profit above the highest value your vault position has already reached.
Example: you deposit $1,000 and later withdraw $1,100. The fee applies only to the $100 profit, not the full withdrawal amount. If you withdraw below your high-water mark, no performance fee is due.
What happens to the fee
For the first vault, half of the performance fee collected is used to market-buy and burn $BETTER.
Safeguards and risks
- Real funds are used. This is not a paper-trading exercise.
- BETTER reserves the right to return user funds during the term if performance or stability benchmarks are not met. This is a safeguard, not insurance.
- The vault is not insured against hacks, exploits, or market losses.
- A manual kill-switch can halt trading at 20% to 25% drawdown. Hard gates also reduce position sizing at 5%, 10%, and 15% drawdown.
Strategy controls
The vault runs a mix of passive and active market making strategies in crypto UP/DOWN markets on all timeframes, directional taker strategies, and latency arbitrage strategies. Seven quant strategies are deployed in total.
The strategy layer operates under hard constraints:
- fixed drawdown tolerance
- fractional Kelly sizing
- liquidity and exposure checks
- strategy pause behavior if a strategy is deemed non-profitable
vBETTER and receipt tokens
vBETTER is planned for later vault iterations, not the closed beta vault.
The current direction is:
- vault-specific receipt tokens where needed
- Polygon-based accounting
- Enzyme Onyx as the accounting layer
Audit status
The first vault will launch with an audit by a third-party web3 security authority covering the vault staking and execution backend and contract.
FAQ
What is a BETTER vault?
A vault pools user money and trades it automatically on Polymarket. You deposit USDC, BETTER runs the strategies, and you receive your share back at the end of the term.
Do I need $BETTER to use the vault?
Yes. You must stake at least 100,000 $BETTER to deposit into any vault.
How much can I deposit?
Your deposit limit is a percentage of the vault's total cap based on your share of total staked $BETTER.
What this means
If you stake 1% of all $BETTER staked for that vault, you can deposit 1% of the vault's USDC cap. If the cap is $25,000 and you staked 1% of the total, you can deposit $250.
What is the 24-hour stake window?
Users have 24 hours to stake their $BETTER for a vault. After that window closes, BETTER calculates each user's share and sets their maximum USDC deposit.
Can I add more $BETTER after the window closes?
No. Your stake is locked for the vault once the window closes.
When does trading start?
Trading begins once the vault's deposit cap is filled.
How long is my money in the vault?
The first vaults run for 4 weeks.
Can I withdraw early?
No. The first vaults are full-exit only at the end of the term.
Is my money safe?
No investment is safe. The vault uses real funds and is not insured. BETTER has risk controls and can return funds if benchmarks are not met, but this is not a guarantee.
What if the vault loses money?
You can lose part or all of your deposit. The vault is high risk.
What is USDC?
USDC is a stablecoin pegged to the US dollar. One USDC is meant to equal one dollar.
What happens to my profits?
BETTER takes a 20% performance fee on profit only. Half of that fee is used to buy and burn $BETTER.
Do I get vBETTER?
Not in the first closed beta vault. vBETTER receipt tokens are planned for later vaults.
What is the difference between the closed beta vault and the public vault?
The closed beta vault is smaller ($25,000 cap) and gives priority to Terminal beta testers. The public vault has a larger cap and is open to everyone who meets the stake requirement.
When is the public vault?
It opens after the closed beta priority window, or earlier if the closed beta cap is not filled.
What strategies does the vault use?
Seven quant strategies including market making, directional taker strategies, and latency arbitrage on Polymarket crypto UP/DOWN markets.
Do I need KYC?
No. Neither the BETTER Terminal nor BETTER Vaults require KYC.
What wallet can I use?
Any wallet that works with the BETTER app.
What chain is my deposit on?
You deposit USDC. BETTER routes it to Polygon for Polymarket trading.
Can I deposit more after I have already deposited?
No. Your deposit cap is set when the stake window closes.
What happens if the cap fills before I deposit?
You cannot deposit into that vault. You can wait for the next vault.
Can I unstake my $BETTER during the vault?
No. Your $BETTER stays locked until the vault term ends and you fully exit.
What if Polymarket goes down?
The vault depends on Polymarket. If Polymarket has issues, trading may pause or funds may be returned.