High Yield Earn is a USDC vault that allocates deposits across a set of selected yield sources. Allocations are made in accordance with the vault’s parameters and may change over time.
High Yield Earn targets a higher yield than Grvt Earn. Grvt is also working on future updates that may allow you to use your High Yield Earn balance as trading margin.
Your High Yield Earn balance is denominated in USDC. The current trailing APY is shown on the Earn page, alongside your balance.
Where does the yield come from?
High Yield Earn allocates across different yield sources. Allocations may change over time. You can view the current sources and allocation on the High Yield Earn page.
APYs are estimates, not guaranteed. The trailing APY you see on the Earn page is the blended yield across all sources, after fees.
How to deposit
You can deposit USDC or USDT into High Yield Earn.
Go to Earn and select High Yield Earn.
Choose USDC or USDT and enter the amount.
Review the details and confirm.
If you deposit USDT, it is converted to USDC before it enters the vault. The conversion is subject to market rates and slippage, so the USDC amount may differ slightly from the USDT you deposited. For any deposit, you will see the estimated conversion amount before you confirm.
How to redeem
Redemption times depend on the vault's cash reserve and the sources it holds at the time, so they may change. You can check the average redemption time on the High Yield Earn page, and you will always see the estimated time before you confirm a redemption. Redemptions are settled in the order they are received.
Go to Earn and select High Yield Earn.
Select Redeem and enter the amount.
Review the details and confirm.
If you choose to receive your redemption in USDT, it is converted to USDT before it is paid to you. The conversion is subject to market rates and slippage, so the USDT amount you receive may differ slightly from the USDC you redeemed. You will see the estimated amount before you confirm, and the final amount may differ.
Can I use High Yield Earn as trading margin?
Not yet. Your High Yield Earn balance cannot currently be used as margin for trading. But Grvt is working on future updates which may allow you to use your High Yield Earn balance as trading margin. When it launches, your existing balance will be eligible without any action needed from you.
FAQ
How is High Yield Earn different from Earn on Equity? Earn on Equity applies a base yield automatically to your funding and trading balances. High Yield Earn is a separate vault you deposit into. The vault parameters target a higher yield across a set of diverse yield sources.
Is the yield guaranteed? No. Expected APYs are based on current rates at each source and can change. Past or estimated yield does not guarantee future returns.
Why can't I redeem right after depositing? The vault parameters are such that each deposit has a holding period of 1 day, rounded up to the next full hour, before it can be redeemed. This supports ongoing sustainability of the vault to allocate new funds across its sources. For example, if you deposit USDC100 and then USDC200 later the same day, you can redeem from the first USDC100 once its holding period ends, and the rest once the second holding period ends.
Why might a redemption take longer than usual? The redemption time displayed is an average based on historical data. Redemptions are paid first in the order received and the total redemption time is subject to the underlying holdings.
What are the risks? High Yield Earn inherits the risk of the underlying yield sources it invests in, and details of each underlying source are found here.