Key Concepts

  • R2USD (Stablecoin) A stablecoin fully backed by USDC (1:1), serving as the entry point for all R2 yield products.

  • sR2USD (T-Bill Vault) A conservative vault backed by tokenized U.S. Treasuries (~4% net APY), offering low-risk, stable yield.

  • sR2USD+ (Private Credit Vault) A diversified private credit RWA vault targeting ~9–10% net APY

  • DeFi Boost Beyond institutional yields, R2 integrates different DeFi strategies and token incentives to enhance APY for users.

  • Permissionless Access Anyone with stablecoins can mint, invest, and redeem R2 products on-chain, no barriers.

  • Institutional Partnerships R2 collaborates with top global asset managers to build tailored RWA yield vaults across T-Bills and Private Credit, turning institutional-grade opportunities into open, borderless access for anyone.

  • Seasonal Yield Structure

    • Yields paid in R2 Tokens on a 90-day cycle.

    • Redeem anytime at a fixed rate through the official channel (bonding contract).

    • Secure a stable RWA APY (bonding contract) — or potentially higher APY on the secondary market.

  • Bonding Contract

    • R2 Tokens distributed as basic yield rewards can be sold via the Bonding Contract.

    • The bonding price is fixed and set below the market’s TWAP (Time-Weighted Average Price) using an adjustment factor.

    • This mechanism provides users with a guaranteed APY and a lower-risk exit option

  • Bonding Contract Price

    Every season, the Bonding Contract’s fixed price is determined based on the market’s TWAP (Time-Weighted Average Price): Bonding Price=Market TWAP×Adjustment Factor

    • The adjustment factor is generally set between 2% to 10%, depending on market conditions.

    • For example, if the TWAP is $0.10, the bonding price could be set at $0.095 or $0.092.

    • The bonding contract offers a "minimum guaranteed price," providing users with a last-resort exit option even amid market volatility.

    • However, long-term users naturally prefer to hold R2 and sell at higher market prices, reducing short-term selling pressure.

    This mechanism strikes a balance between incentivizing long-term holding and ensuring adequate liquidity.

  • Liquidity & Redemptions

    • Fast-Track: Instant redemptions available when liquidity buffer is sufficient.

    • Queue Mode: In periods of high demand, withdrawals are handled via a scheduled queue. Settlement occurs as assets mature or new inflows are added.

  • Risk Management Exposure diversified across multiple funds and asset types, safeguarded by Anchorage custody, third-party audits, and KYT/AML screening.

  • Composability R2 vault tokens (ERC-4626) are DeFi-native, enabling integrations with Curve, Pendle, Aave, Morpho, Euler, and other protocols.

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