SLP Vault

Last updated: Feb 24, 2026

The Synthetix Liquidity Provider (SLP) Vault is the protocol's community market making vault, designed to back all perps markets on Ethereum Mainnet.

How it works

When opened to users, the SLP vault would pool capital from depositors and deploy it as liquidity backing for perpetual markets. As traders pay fees and funding, a portion of those revenues would flow back to depositors proportional to their share of the vault.

Participation in SLP means capital would be exposed to market making performance. Depositors would benefit when the exchange generates revenue, and they would also be exposed to losses if the vault's market making position loses money.

Current status

• The vault is running internally today
• User deposits are not currently available
• Public access will open in a future release

Acquiring sUSD

When user deposits open, the vault will use sUSD on Ethereum Mainnet. sUSD can be acquired via:

• Curve — swap stablecoins for sUSD

If you hold sUSD on Optimism, bridge it to Mainnet via Superbridge.

Earning with sUSD

While SLP is internal only, you can still put your sUSD to work via Curve and StakeDAO:

Step 1: Deposit into the Curve pool

1. Visit the sUSD/sUSDe Curve Deposit Page and connect your wallet
2. Enter the amount of sUSD (and optionally sUSDe) to deposit
3. Confirm the transaction — you will receive LP tokens

LP incentives are only available on Ethereum Mainnet.

Step 2: Deposit LP tokens into StakeDAO

1. Go to the StakeDAO Yield Page and connect the same wallet
2. Select the strategy associated with the Curve pool
3. Approve and deposit your LP tokens
4. Your LP tokens will begin earning rewards

You can claim rewards at any time or set them to auto-compound.

Legacy vaults