The pool and payout queue
Winners are paid from losers. When there isn’t enough yet, they wait in line.
Where losses go
Every loss, the losing part of a closed position or the whole margin of a liquidated one, is split as it happens, and so is the 2% win fee on winning closes:
| Share | Goes to |
|---|---|
| 75% | The pool, which pays winners |
| 20% | The $LONG buyback account, used to buy back $LONG |
| 5% | The team account |
Both accounts are public: every share they receive is a line in the explorer, and the totals are on the stats page.
The pool
The pool holds its 75% of traders’ losses and win fees, plus the whole impact haircut on wins. Winners are paid from it.
uplong can also add its own USDC to the pool when the queue grows. Like any inflow, it pays the queue first, oldest claim first. Every top-up is a public transaction in the explorer.
Closing a winning position
- Your margin comes back to your balance at once.
- Your profit is paid from the pool, if it has enough.
- Whatever the pool can’t cover waits in the payout queue. As new losses come in, the pool pays the queue in order, oldest first, before anything else. While winners wait in the queue, the buyback and team shares of win fees are skipped.
Example
The pool is empty and you close a trade 100 USDC in profit. Your margin comes back and 100 USDC joins the queue. Another trader then loses 80 USDC: 60 of it (75%) reaches the pool and goes to you, and 40 is still owed. Once about 54 USDC more in losses comes in, you’re paid in full.
Your place in line
The trade page’s Status tab and your page in the explorer show what you’re owed and how much is queued ahead of you.
Payouts from the queue depend on other traders losing. If traders win more than they lose for a while, the queue grows and payouts can take a long time. There’s no guaranteed date.