# USD Money Market Fund Vault

## Summary 

The USD Money Market Fund 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. 

<table><thead><tr><th width="255">Vault</th><th width="475">Details</th></tr></thead><tbody><tr><td><strong>Vault Name</strong></td><td>USD Money Market Fund Vault</td></tr><tr><td><strong>Token Symbol</strong></td><td>XMMF</td></tr><tr><td><strong>Protocol Version</strong></td><td>5.0</td></tr><tr><td><strong>Eligible Collateral</strong></td><td>Fidelity USD MMF, USD, USDC</td></tr><tr><td><strong>Stablecoins Accepted</strong></td><td>USDC, USDT</td></tr><tr><td><strong>Networks Supported</strong></td><td>Avalanche, Ethereum, Plume</td></tr><tr><td><strong>Investments</strong></td><td>Invest anytime, <a href="../../product-overview/vault-tokens">vault tokens</a> minted immediately </td></tr><tr><td><strong>Withdrawals</strong> </td><td>Request anytime; repaid in a maximum of T+2. Typically repaid same day if request is made before the cut-off time. </td></tr><tr><td><strong>Minimum Investment</strong></td><td>100 USDC</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 <a href="https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&#x26;field_tdr_date_value_month=202501">4-Week Bank Discount Daily Treasury Rate</a> less Fees. 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 between XMMF/USDC 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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