# Flexible Term EURC Vault

## 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. 

<table><thead><tr><th width="255">Vault</th><th width="475">Details</th></tr></thead><tbody><tr><td><strong>Vault Name</strong></td><td>Flexible Term EURC Vault</td></tr><tr><td><strong>Token Symbol</strong></td><td>XEVT</td></tr><tr><td><strong>Protocol Version</strong></td><td>5.0</td></tr><tr><td><strong>Eligible Collateral</strong></td><td>EUR Money Market Funds (Fidelity), EUR sovereign bonds</td></tr><tr><td><strong>Stablecoins Accepted</strong></td><td>EURC</td></tr><tr><td><strong>Networks Supported</strong></td><td>Avalanche, Ethereum</td></tr><tr><td><strong>Investments</strong></td><td>Anytime, <a href="../../product-overview/vault-tokens">vault tokens</a> minted immediately </td></tr><tr><td><strong>Withdrawals</strong> </td><td>Anytime, repaid T+0 if made before cut-off time</td></tr><tr><td><strong>Minimum Investment</strong></td><td>100</td></tr><tr><td><strong>Term / Lockup</strong></td><td>None</td></tr><tr><td><strong>Fees</strong></td><td>50 bps per annum, deducted from the gross yield generated on the underlying collateral</td></tr><tr><td><strong>Interest Accrual</strong></td><td>Lenders earn a <a href="flexible-term-usdc-vault/interest-rate-and-fees">variable interest rate</a> (“Loan Fee Rate”) which is benchmarked to the <em>Yield curve spot rate, 3-month maturity - Government bond, nominal, all issuers whose rating is triple A - Euro Area</em>  an index published by the European Central Bank. Principal and interest compounds daily. </td></tr><tr><td><strong>Exchange Rate Method</strong></td><td>Reference price set by Investment Advisor each day at 23:59 GMT. Exchange rate increases each day to reflect daily interest accrual. </td></tr><tr><td>Legal Structure</td><td>Leverages the same institutional grade <a href="../../product-overview/legal">legal framework</a>, <a href="../../product-overview/legal/bankruptcy-remote-structure">bankruptcy remote structure</a>, and <a href="../../product-overview/key-parties">regulated service providers and counter-parties</a> as our other OpenTrade Treasury Management &#x26; Yield Product. </td></tr></tbody></table>


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