How csUSDL vault works
Last updated
Last updated
Deposit Process
Users deposit USDL into the csUSDL Vault via the Coinshift app, Morpho UI, or Etherscan.
In return, the vault mint csUSDL tokens representing their ownership share of the vault's assets.
Yield Generation
Dual Yield Streams:
Real-World Yield from USDL: Up to 5% yield backed by USDL’s real-world cash equivalents.
Additional Lending Yield: Deposited assets are dynamically allocated across Morpho markets. Extra interest generated from borrowers, who collateralize blue-chip assets such as cbBTC and wstETH.
Exclusive Boosted Rewards: Earn additional rewards in MORPHO and SHIFT incentives.
Auto-Compounding: Accrued interest and rewards are automatically reinvested to enhance user returns.
Withdrawal Process
Users can redeem their csUSDL tokens for USDL at any time.
The withdrawal reflects the user's proportional ownership, including any accrued yield.
Vault Fee Structure
The csUSDL vault currently operates with no fees, making it completely free for users. In the future, a 5% fee on interest paid by borrowers may be implemented, deducted from lender proceeds. Users will be given ample notice through a time delay before any changes to the fee structure are applied.
