๐Ÿ’ตFlexible 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

Protocol Version

4.0

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 (โ€œLoan Fee Rateโ€) 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.

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