> For the complete documentation index, see [llms.txt](https://delpho.gitbook.io/delpho-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://delpho.gitbook.io/delpho-docs/parameters.md).

# Parameters

This page is the single consolidated parameter reference for Delpho. It is a living document. The date of last revision is at the top, and material changes are logged on [Changelog](/delpho-docs/changelog.md).

> **Last revised:** 24 July 2026. **Status:** Pre-launch. Values subject to revision before V1 public launch.

## Per-collateral parameters

| Collateral | Max LTV | Liquidation threshold |
| ---------- | ------- | --------------------- |
| HYPE       | 65%     | 80%                   |
| kHYPE      | 65%     | 80%                   |
| USDC       | 80%     | 90%                   |
| USDT       | 80%     | 90%                   |

## Per-collateral oracle and capacity parameters

<table><thead><tr><th width="114">Collateral</th><th width="112">Oracle source</th><th width="112">Deviation threshold</th><th width="108">Supply cap</th><th width="108">Debt cap</th><th width="82">Mint fee</th><th>Borrow APR</th></tr></thead><tbody><tr><td>HYPE</td><td>Chainlink</td><td>0.5%</td><td>[PENDING]</td><td>[PENDING]</td><td>0%</td><td>0%</td></tr><tr><td>kHYPE</td><td>Chainlink</td><td>0.5%</td><td>[PENDING]</td><td>[PENDING]</td><td>0%</td><td>0%</td></tr><tr><td>USDC</td><td>Chainlink</td><td>0.5%</td><td>[PENDING]</td><td>[PENDING]</td><td>0%</td><td>0%</td></tr><tr><td>USDT</td><td>Chainlink</td><td>0.5%</td><td>[PENDING]</td><td>[PENDING]</td><td>0%</td><td>0%</td></tr></tbody></table>

## Protocol-wide parameters

| Parameter                 | Value       | Notes                                                                                                                        |
| ------------------------- | ----------- | ---------------------------------------------------------------------------------------------------------------------------- |
| Maximum total USDV supply | \[PENDING]  | Adjustable through multisig as reserve scaling supports it.                                                                  |
| Minimum mint              | 50 USDV     | Minimum USDV that can be created in a single mint transaction. Applies to all collateral types.                              |
| Treasury reserve target   | \~5% of TVL | Accumulated during positive funding windows.                                                                                 |
| sUSDV redemption window   | \[PENDING]  | Confirm presence and length before launch.                                                                                   |
| Redemption fee            | Variable    | Applied to direct USDV redemptions. See [Redemptions and the peg](/delpho-docs/how-delpho-works/redemptions-and-the-peg.md). |
| Pause authority           | Multisig    | See [Trust assumptions and multisig](/delpho-docs/risk/trust-assumptions-and-multisig.md)                                    |

## Historical parameter changes

The change log is on [Changelog](/delpho-docs/changelog.md). Parameter changes are date-stamped and accompanied by the StableWatch report or internal note that supported the change.

The first publicly documented change is from 75% to 65% maximum LTV for HYPE and kHYPE. The change came from the StableWatch quantitative report run during pre-launch parameter selection. See [Risk advisor reports](/delpho-docs/audits-and-security/risk-advisor-reports.md) for context.