A hydraulic system includes a main modulation control scheme which relies in part on the use of a VBS solenoid and the multiplexing of that solenoid. The hydraulic system is associated with a hybrid module and by controlling the main pressure at a reduced level, the fuel economy and reliability of that hybrid module are improved. The system pressure is controlled by the multiplexed VBS solenoid in order to maintain adequate clutch pressure based on torque requirements. The overall system cost is reduced by the multiplexing of valves and solenoids.