Treasury ReceivesExcess Yield & Fees
The Dapper treasury receives excess yield and distributes them amongst vault participants.
Treasury Vaults
Track contributions and lifetime value for each treasury vault
Why Join Treasury Vaults?
Participate in treasury vaults and earn variable excess yield and fees generated from protocol staking activities.
Variable Excess Yield
Receive a share of excess yield generated when stakers unlock their positions ahead of schedule.
Staking Fees & Rewards
Earn fees collected from staking activities as more participants join the protocol.
Share-Based System
Deposit into treasury vaults and receive vault shares representing your proportional ownership.
Secure & Transparent
All treasury operations are run by smart contracts with full on-chain transparency.
How Treasury Vaults Work
Join a Treasury Vault
Choose a treasury vault (MUSD or BTC) and deposit your tokens. You receive vault shares proportional to your contribution, representing your ownership in the vault.
Stakers Fund the Vault
When stakers create positions, the yield generated from the staked tokens are contributed to the treasury vault, minus their principal.
Earn Excess Yield & Fees
When stakers unlock early or the protocol collects fees, excess yield beyond the expected interest is generated. This excess yield and collected fees are distributed to vault participants based on their share ownership.
Redeem Your Shares
Redeem your vault shares at any time to receive your underlying tokens plus your proportional share of accumulated excess yield and fees from the vault.