Overview
Dollar Vault allows you to deposit USDC.e into an account as part of your non-custodial World App wallet. You may also be able to earn yield on USDC.e from third party providers.
You are able to store your USDC.e in one of two account types:
- Vault: Your USDC.e are locked via decentralized smart contract until you choose to unlock them. You may earn yield from third party providers.
- Spending: Your USDC.e are ready for daily transactions.
Depositing Into Vault
1. Go to the Wallet ($) tab, then tap on Digital Dollars
2. Tap on Vault
3. Select the amount you’d like to deposit, and then transfer into your Dollar Vault
Earning Yield in Vault
Digital Dollars that are deposited into Vault may earn additional yield from third party providers, subject to their terms and conditions. The APY that you can earn is variable and may change. These details will be displayed in your Vault within World App.
How is Yield Generated?
Yield is generated from deposits into the Sky Protocol. When you deposit into Dollar Vault, you are swapping Digital Dollars for sDAI using a decentralized smart contract.
sDAI is a token that represents the value of the Dai Savings Rate (DSR), which is offered to depositors in the Sky Protocol. The yield generated by sDAI is directly tied to the Dai Savings Rate, which can fluctuate over time.
Withdrawing Digital Dollars from Vault
You are able to withdraw your Digital Dollars from Vault into Spending whenever you’d like. To withdraw from your Vault:
1. Go to the Wallet tab, then tap on Digital Dollars
2. Select Vault
3. Tap the Transfer out button
4. Choose the amount you'd like to withdraw. Tap on Continue, and then Confirm withdraw
5. There will be a Security Period during which you can cancel the withdrawal. This period is meant to protect your savings goals and to increase security. The security period may vary from user to user, and is set when you deposit into your Vault.
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