Overview

Dollar Vault is available to World ID verified users. The Dollar Vault allows you to deposit USDC into an account as part of your non-custodial World App wallet. You may also be able to earn yield on USDC from third party providers. 

You are able to store your USDC in one of two account types:

1. Vault: Your USDC are locked via decentralized smart contract until you choose to unlock them. You may earn yield from third party providers.
2. Spending: Your USDC are ready for daily transactions.

Depositing Into Vault

1. Go to the Wallet tab, then tap on Cash

2. Select US Dollars and open the Vault

3. Tap the Transfer In button

4. Select the amount you’d like to deposit, then Continue

5. Check the transaction details, then tap Confirm once you're ready to proceed 

6. Tap Done to exit

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 Dollar Vault page.

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 Cash

2. Select US Dollars and open the Vault

3. Tap the Transfer out button

4. Choose the amount you'd like to withdraw, then tap on Continue

5. Check the transaction details and tap the Confirm button once you're ready

6. A screen will appear to confirm the withdrawal is being processed. Tap Done to exit

7. 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. The security period cannot be shortened or removed.

Translations may differ slightly from the original English content. For the most accurate information, please refer to the article's English version if any discrepancies occur.