💶Flexible Term EURC Vault

Flexible term, variable rate on-chain loans fully secured by EUR Money Market Funds and EUR Sovereign Bonds

Summary

The flexible term EURC Vault aims to provide lenders with the risk free rate of return for EUR. It's collateral portfolio consists exclusively of highly liquid Euro sovereign bonds and EUR Money Market Funds. Interest accrues and compounds daily and lenders can move in and out at anytime. Withdrawals made before the cut off time are repaid same day, typically within 6 hours.

Vault	Details
Vault Name	Flexible Term EURC Vault
Token Symbol	XEVT
Eligible Collateral	EUR Money Market Funds (Fidelity), EUR sovereign bonds
Stablecoins Accepted	EURC
Networks Supported	Avalanche, Ethereum
Investments	Anytime, vault tokens minted immediately
Withdrawals	Anytime, repaid T+0 if made before cut-off time
Minimum Investment	100
Term / Lockup	None
Fees	50 bps per annum, deducted from the gross yield generated on the underlying collateral
Interest Accrual	Lenders earn a variable interest rate (“Loan Fee Rate”) which is benchmarked to the Yield curve spot rate, 3-month maturity - Government bond, nominal, all issuers whose rating is triple A - Euro Area an index published by the European Central Bank. Principal and interest compounds daily.
Exchange Rate Method	Reference price set by Investment Advisor each day at 23:59 GMT. Exchange rate increases each day to reflect daily interest accrual.
Legal Structure	Leverages the same institutional grade legal framework, bankruptcy remote structure, and regulated service providers and counter-parties as our other OpenTrade Treasury Management & Yield Product.