LP Vault Tranches
Earn yield by providing liquidity to risk vaults.
6-tier waterfall structure with risk-adjusted returns from 4% to 20% APY.
How LP Vaults Work
Deposit Capital
Choose your tranche and deposit stablecoins, TON, or wBTC
Earn Premiums
Your capital backs risk contracts and earns premium revenue
Receive Yield
Automatic daily distributions with no lock-up period
6-Tier Waterfall Structure
SURE-BTC
Ultra-Senior tranche. Bitcoin-focused capital with constant 4% APY. Last to absorb losses, providing maximum safety for institutions and treasuries.
- •Flat 4% APY (no variation)
- •Priority in waterfall
- •Absorbs 75-100% of claims
- •Lock-up period required
SURE-SNR
Senior tranche with logarithmic curve. Conservative DeFi investors benefit from stable, predictable returns with minimal volatility.
- •Logarithmic APY growth
- •Fifth in loss absorption
- •Absorbs 55-75% of claims
- •Lock-up period required
SURE-MEZZ
Mezzanine tranche with linear curve. Balanced risk-reward profile perfect for DeFi investors seeking moderate returns.
- •Linear APY progression
- •Fourth in loss absorption
- •Absorbs 37-55% of claims
- •Lock-up period required
SURE-JNR
Junior tranche with sigmoidal curve. Designed for crypto natives and active traders comfortable with moderate risk.
- •Sigmoidal APY curve
- •Third in loss absorption
- •Absorbs 22-37% of claims
- •No lock-up period
SURE-JNR+
Junior Plus tranche with quadratic curve. Aggressive yields for high-risk tolerance investors seeking enhanced returns.
- •Quadratic APY acceleration
- •Second in loss absorption
- •Absorbs 10-22% of claims
- •No lock-up period
SURE-EQT
Equity tranche with exponential curve capped at 25%. First-loss capital for degen yield farmers and protocol seed investors seeking maximum returns.
- •Exponential APY (capped 25%)
- •First loss absorption
- •Absorbs 0-10% of claims
- •No lock-up period
Accepted Collateral
Stablecoins
Deposit with USDT or USDC for stable, predictable returns
TON
Stake native TON and earn yields in TON
Wrapped BTC
Bitcoin holders can earn yield on TON blockchain
Dynamic Bonding Curves
Each tranche uses a different bonding curve to determine APY based on vault utilization and market conditions. This creates a dynamic, efficient market for risk capital.
📉 FLAT (SURE-BTC)
Constant 4% APY regardless of utilization. Maximum predictability for institutional capital.
📊 LOGARITHMIC (SURE-SNR)
Slow, steady growth from 6.5% to 10%. Conservative increase as utilization rises.
📈 LINEAR (SURE-MEZZ)
Proportional increase from 9% to 15%. Balanced response to market demand.
〰️ SIGMOIDAL (SURE-JNR)
S-curve from 12.5% to 16%. Gradual acceleration with steeper growth in mid-range.
📐 QUADRATIC (SURE-JNR+)
Accelerating growth from 16% to 22%. Rewards capital during high-demand periods.
🚀 EXPONENTIAL (SURE-EQT)
Rapid acceleration from 15% to 25% cap. Maximum yield for first-loss capital.
Waterfall Mechanics
Premium Distribution (Revenue Waterfall)
Risk premiums are distributed from safest to riskiest tranches:
- 1.🟦 SURE-BTC receives base 4% APY first
- 2.🟩 SURE-SNR receives 6.5%-10% APY second
- 3.🟨 SURE-MEZZ receives 9%-15% APY third
- 4.🟧 SURE-JNR receives 12.5%-16% APY fourth
- 5.🟥 SURE-JNR+ receives 16%-22% APY fifth
- 6.🟪 SURE-EQT receives 15%-25% APY
Loss Absorption (Payout Waterfall)
When risk payouts occur, losses are absorbed in reverse order:
- 1.🟪 SURE-EQT absorbs 0-10% of claims (first-loss capital)
- 2.🟥 SURE-JNR+ absorbs 10-22% of claims
- 3.🟧 SURE-JNR absorbs 22-37% of claims
- 4.🟨 SURE-MEZZ absorbs 37-55% of claims
- 5.🟩 SURE-SNR absorbs 55-75% of claims (well-protected)
- 6.🟦 SURE-BTC absorbs 75-100% of claims (maximum protection)
Overcollateralization Impact
Different bonding curves attract capital at different rates, affecting the protocol's overcollateralization ratio. Higher overcollateralization means more capital backing each dollar of coverage, reducing risk for all tranches.
🟪 Exponential (SURE-EQT)
150-200%High APY at high utilization attracts aggressive capital quickly, dramatically increasing overcollateralization.
🟥 Quadratic (SURE-JNR+)
150-200%Accelerating APY curve incentivizes capital deployment during high-demand periods, boosting overcollateralization.
🟧 Sigmoidal (SURE-JNR)
130-150%Balanced S-curve provides good market-making dynamics, maintaining healthy overcollateralization.
🟨 Linear (SURE-MEZZ)
120-140%Proportional growth ensures steady capital inflows, supporting consistent overcollateralization.
🟩 Logarithmic (SURE-SNR)
120-130%Fast initial growth then plateaus, providing stable, predictable overcollateralization.
🟦 Flat (SURE-BTC)
110-120%Minimal variation ensures consistent, reliable overcollateralization for institutional needs.
💡 Why This Matters
Higher overcollateralization ratios mean the protocol can absorb larger losses before affecting senior tranches. The combination of different curves creates a self-balancing system where high-risk tranches attract capital when needed most, protecting conservative investors.
Vault Features
Flexible Lock-Ups
Junior and Equity tranches have no lock-ups. Senior and Mezzanine have lock-up periods for stability.
Daily Distributions
Rewards are calculated and distributed automatically every 24 hours
Auto-Compounding
Earned yields are automatically reinvested to maximize returns
Full Transparency
All vault operations and balances visible on-chain in real-time
Risk-Adjusted Returns
Choose the tranche that matches your risk tolerance and goals
Multi-Asset Support
Deposit with stablecoins, TON, or wBTC based on your preference
Ready to Start Earning Yield?
Choose your tranche and start earning yield on your capital today.
No lock-ups, daily distributions, fully automated.
