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Methodology

Our full methodology for the USV structured product

Asset and underlying protocol

  • USV only supports USDC
  • USV is built on top of the Notional fixed rate lending and borrowing protocol

Tenors and maturities

  • This product will only invest into fcash tenors that have a liquid market across the entire lifespan of the maturity. Currently, this is the 3 month and 6 month tenors.
  • When an fcash tenor has matured it will be rolled into the highest yielding active and eligible tenor.

Depositing

  • USV uses a two stage deposit model to minimise the gas costs for investors.
    • Stage one is depositing and stage two is harvesting.
  • When depositing, investors will transfer USDC into the USV contract and receive USV tokens representing their ownership of the vault.

Harvesting

  • Harvesting will invest all available USDC (from new deposits and matured fcash) into the highest yielding active and eligible tenor.
  • Harvesting will occur once a minimum threshold of USDC is ready to be invested into an active and eligible fcash tenor.
  • Any keeper actively monitoring the USV vault can execute the harvest function.

Redeeming

  • USV utilises a waterfall structure during the redemption process, that will first pay out any available USDC, before selling USV's fcash positions.
  • To protect future returns, USV will sell fcash positions sorted by lowest yielding tenor first.

Maintenance

Automated management

Managed by our Savings Vault smart contract suite.

Investment cycles

Typically every 3-5 days. This is done to reduce the entry costs for investors.

Redemptions

24/7, immediately. When you decide to redeem, you won’t have to wait.