Lux Docs

The Perps module (contracts/perps/) implements leveraged perpetual futures trading. Traders can open long or short positions with up to 50x leverage, while liquidity providers earn 70% of trading fees through the LLP token.

Core Contracts

Contract	Import	Purpose
Vault	`@luxfi/contracts/perps/core/Vault.sol`	Central liquidity pool and position management
Router	`@luxfi/contracts/perps/core/Router.sol`	User-facing position operations
PositionRouter	`@luxfi/contracts/perps/core/PositionRouter.sol`	Keeper-executed position changes
LlpManager	`@luxfi/contracts/perps/core/LlpManager.sol`	LLP token minting and burning
LLP	`@luxfi/contracts/perps/gmx/LLP.sol`	Multi-asset LP token
LPUSD	`@luxfi/contracts/perps/tokens/LPUSD.sol`	Internal accounting stablecoin

Token Naming

Token	Description
LPX	Lux Perps governance/utility token
LLP	Lux Liquidity Provider (vault share token)
LPUSD	Lux Perps USD (internal accounting)
xLPX	Escrowed LPX (vesting rewards)

Opening Positions

import "@luxfi/contracts/perps/core/Router.sol";

Router router = Router(ROUTER_ADDRESS);

// Open leveraged long position
router.increasePosition(
    collateralToken,  // e.g., WETH
    indexToken,       // asset to go long on
    collateralAmount, // collateral deposited
    sizeDelta,        // position size in USD
    true              // isLong
);

// Open short position
router.increasePosition(
    LUSD,             // stablecoin collateral for shorts
    indexToken,       // asset to short
    collateralAmount,
    sizeDelta,
    false             // isShort
);

Providing Liquidity

LPs deposit whitelisted tokens and receive LLP. They earn 70% of trading fees and act as counterparty to all traders.

import "@luxfi/contracts/perps/core/LlpManager.sol";

LlpManager manager = LlpManager(MANAGER_ADDRESS);

// Deposit WETH, receive LLP tokens
token.approve(address(manager), amount);
uint256 llpAmount = manager.addLiquidity(WETH, amount, minUsdg, minLlp);

// Withdraw -- burn LLP, receive token
uint256 received = manager.removeLiquidity(WETH, llpAmount, minOut, recipient);

Fee Structure

Fee Type	Amount
Swap	0.3% (stables: 0.04%)
Margin	0.1% of position size
Funding	Variable, 8-hour intervals
Liquidation	$100 USD equivalent

Liquidation

Positions are liquidated when losses consume the collateral minus the liquidation fee. The liquidation price depends on entry price, leverage, and accumulated fees.

Staking Rewards

import "@luxfi/contracts/perps/staking/RewardRouterV2.sol";

RewardRouterV2 rewardRouter = RewardRouterV2(REWARD_ROUTER);

// Stake LPX to earn WETH + xLPX
rewardRouter.stakeLpx(amount);

// Claim all rewards
rewardRouter.handleRewards(
    true,  // shouldClaimLpx
    true,  // shouldStakeLpx
    true,  // shouldClaimXLpx
    true,  // shouldStakeXLpx
    true,  // shouldStakeMultiplierPoints
    true,  // shouldClaimWeth
    false  // shouldConvertWethToEth
);

Oracle

The Vault uses VaultPriceFeed which aggregates Chainlink, Pyth, and FastPriceFeed for low-latency updates. Spread pricing protects against MEV.

// Get price for perps (with spread)
uint256 longPrice = oracle.getPriceForPerps(WETH, true);   // maximize for longs
uint256 shortPrice = oracle.getPriceForPerps(WETH, false); // minimize for shorts

Perpetuals