RuleThe two phases of a Flap token
What happens if the price falls?
Nothing is liquidated. The position keeps its tokens until you close it. A close sells them, repays the loan first and pays you the rest, which can be less than your margin. The floors make sure the loan itself is always repaid.
Why can't I always get 2.0x?
The cap is where the worst case meets 1.25× the loan. It is highest on an empty curve and falls as the curve fills; the pool's idle BNB can also limit it. The vault card shows the exact figure for your margin before you sign.
What does it cost?
An open fee of 1% of the loan, which goes to lenders, plus the token's own tax and the trading fee on each buy and sell. There is no interest.
What is a take-over?
After 30 days anyone may pay a loan in full. They receive a share of the position's tokens that grows from 0% to 100% over 24 hours, and you keep the rest with no loan on it. Close before day 30 and it never happens.
Can I add margin or extend a loan?
No. Each address holds one position. You can close and open again at once, paying the open fee and the trading costs again.
What happens at graduation?
Opening stops for good. Positions opened before keep their tokens and close through the PancakeSwap pool; lending and take-overs carry on.
When can lenders withdraw?
At any time, up to idle BNB. Deposits include revenue already releasing in their price; withdrawals exclude it. Leave before that release ends and you can receive less than you deposited. A partial withdrawal must leave nothing or at least 0.01 BNB.
Where does the lenders' yield come from?
From half of the token's trading tax and the 1% open fees, released over 3 days. The other half goes to the developer. While nobody outside the developer holds shares, all tax goes there. At the edges of that period the remaining pool cash goes there too, and open loans become the developer's shares.
Why does a deposit ask me to distribute tax first?
Tax already earned must be distributed before a new deposit is priced. If the automatic distribution cannot finish, complete the token's tax distribution and retry the deposit. No deposit is accepted while that earlier tax is waiting.
Is there a price oracle?
No. Both floors are computed from the position's own token count and the curve's launch constants, so the vault never asks anyone for a price.
Which wallets work?
Any BNB Chain wallet: browser wallets such as MetaMask, Binance Wallet, OKX or Trust, and mobile wallets through WalletConnect.