Vaults and Fees

To normalize demand with yield supply generated from yield farming. JPEG'd uses a tiered vault structure (A, B, C, D) for charging interest.
According to demand, each collection can have new vaults opened with their own debt ceilings as defined by PIPs. Each vault has its own debt ceiling and tiers. Interest is accrued at each block.
The tiers charges fees as follow:
Borrow Currency
Tier-A Annual Interest Rate
Tier-B Annual Interest Rate
Depending on availability in each of the vaults, on borrow positions get automatically placed in the best vault for the position. If a borrow amount exceeds the available pETH/PUSd it will automatically be migrated to the next vault with the available amount.
It is possible to migrate a position to a lower tiered vault (if enough borrowable assets are available) using the migrate function, either on individual positions or using whale mode