💵Flexible Term USDC Vault

Flexible term, variable rate on-chain loans fully secured by US Treasury Bills and USD Money Market Funds.

Summary

The flexible term USDC Vault aims to provide lenders with the risk free rate of return for USD. It's collateral portfolio consists exclusively of highly liquid US Treasury Bills and USD 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 USDC Vault
Token Symbol	XTBT
Eligible Collateral	US Treasury Bills, USD Money Market Funds (Fidelity, Wilmington Trust, Franklin Templeton)
Stablecoins Accepted	USDC
Networks Supported	Avalanche, Ethereum
Investments	Anytime, vault tokens minted immediately
Withdrawals	Anytime, repaid T+0 if made before cut-off time
Minimum Investment	100 USDC
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 4-Week Bank Discount Daily Treasury Rate less Fees. Principal and interest compounds daily.
Exchange Rate Method	Reference price set by Investment Advisor each day at 23:59 GMT. Exchange rate between XTBT/USDC 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.