Help center

Welcome to the PLX Help Center — your complete resource for navigating vaults, leverage tokens, and integrations. Whether you’re minting your first 2X token, claiming volume rewards, or building on our API, this section gives you everything you need to resolve issues fast and trade confidently. 1. What is PLX?

PLX is a decentralized leverage protocol on Solana that allows users to mint synthetic leveraged tokens such as SOL2X, PUMP5X, and CHILLGUY2X. These tokens track the price of their underlying assets with automated exposure amplification—without liquidations or margin calls. Every token is collateralized through smart vaults that algorithmically manage risk, rebalance positions, and maintain target leverage ratios in real time.

2. How does non-liquidating leverage work?

Traditional leverage relies on debt and margin maintenance; if the market moves against your position, you get liquidated. PLX replaces this with collateral-based vaults that continuously adjust exposure rather than borrow against it. When you mint a token like SOL2X, the vault dynamically manages long/neutral hedges so that your exposure always equals 2× the base asset—without requiring liquidation events. The vault automatically rebalances through delta-neutral mechanisms and spot pools.

3. What tokens can I mint?

At launch, PLX supports:

  • SOL2X, SOL5X – leveraged Solana exposure

  • PUMP2X, PUMP5X – meme-asset momentum tokens

  • CHILLGUY2X – community token with light volatility targeting

  • Additional series like NYX2X and AVA5X will be introduced via governance votes.

Each mintable asset is fully backed by a corresponding vault with its own leverage logic and rebalance cadence.

4. How do I mint a leveraged token?

  1. Connect your Solana wallet (Phantom, Backpack, Solflare).

  2. Select a vault from the dashboard, e.g., SOL2X.

  3. Deposit SOL or mSOL / JitoSOL.

  4. Confirm transaction — your wallet receives the minted tokens instantly.

Your minted tokens represent live exposure and can be held, traded, or staked for rally rewards. You can redeem them back anytime for the equivalent vault value.

5. Are there liquidation risks?

No. Vaults are non-liquidating by design. Instead of liquidating users, the system automatically rebalances position ratios, reducing or expanding exposure to maintain target leverage. The cost of this safety is that long sideways markets may slightly erode value due to rebalance friction—a known trade-off for zero liquidation.

6. Where does the yield come from?

All vaults charge small position and swap fees that feed the PLX treasury. Part of these fees fund the Leverage Rally Rewards system, where high-volume traders receive SOL rebates proportional to the liquidity they bring into the ecosystem. Stakers of $PLX also earn protocol revenue from these activities.

7. How are vault prices calculated?

Vaults track their NAV (Net Asset Value) via oracle-fed data from multiple Solana price feeds (Pyth, Switchboard). The rebalancing engine monitors the price feed and updates internal ratios every block. You can verify vault valuations and exposure directly on-chain or through the /vaults/:symbol API endpoint.

8. Why is my token price not exactly 2× or 5× the underlying?

Leveraged tokens compound returns. Over time, rebalance frequency and volatility decay can cause the ratio to diverge slightly from the exact multiple. For example, if SOL trades flat but volatile, SOL5X may lose a bit of value due to rebalancing. This is normal behavior—your leverage is continuously recalibrated, not fixed like in perpetual swaps.

9. What are Leverage Rally Rewards?

Leverage Rally Rewards pay you back in SOL when your trading activity contributes to protocol volume. The more volume you bring and the longer you hold your minted assets, the higher your SOL rebate. It’s an automated cashback system that runs every epoch, viewable on the Leaderboard tab.

10. How do I redeem my tokens?

Redeeming is instant:

  • Go to the PLX dashboard → select your token → click Redeem.

  • The protocol burns your token and returns your vault share value in SOL. If redemption queues form during heavy activity, you can monitor queue depth in the vault explorer before confirming your transaction.

11. What happens if I lose my wallet access?

PLX is entirely non-custodial. The protocol never holds your keys. If you lose access to your wallet, minted tokens and rewards associated with it cannot be recovered. Always back up your seed phrase securely before minting.

13. How do I report a bug or issue?

Email [email protected] or use the in-app “Report” button. Include:

  • Your wallet address

  • The vault affected

  • Transaction signature (if applicable) Critical reports are eligible for bug bounties under our Security & Audits section.

15. How do governance and staking work?

Holders of $PLX can stake in governance pools to vote on protocol upgrades, new asset listings, and fee parameter changes. Stakers earn a share of protocol fees and emission rewards. Governance is time-locked to ensure transparency and prevent flash-vote manipulation.

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