> For the complete documentation index, see [llms.txt](https://docs.goevolve.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.goevolve.xyz/faqs.md). # FAQs #### What is Evolve? **Evolve** is the issuer of **eUSD** — a yield-bearing stablecoin on the **SEI** chain. eUSD is designed to deliver **stable, transparent yield** through a diversified portfolio of: * **RWA yield** * **AI infrastructure yield** * **Onchain lending yield tokens on SEI** *** #### What is eUSD? **eUSD is a yield-bearing token on SEI that targets USD stability while earning yield.**\ You hold a single token (eUSD) that represents a claim on a yield-generating portfolio managed under Evolve’s disclosed mandate and controls. *** #### Who is Evolve for? Evolve is built for four types of users: * **Capital Allocators** → simple yield exposure with clear redemption terms * **Builders / Distribution Partners** → wallets, exchanges, fintechs, banks, wealth tech, LP networks offering “Earn” * **Treasury & Finance Teams** → DAOs and corporates that need stable yield + reporting * **DeFi Power Users** → users who want a yield-bearing stablecoin they can hold, redeem, and use across SEI DeFi *** #### What problem does Evolve solve? Stable yield is fragmented and operationally complex (multiple venues, wrappers, liquidity constraints, and inconsistent reporting). Evolve makes yield: * **Accessible** via a single yield-bearing stablecoin (eUSD) * **Composable** across the SEI DeFi ecosystem * **Measurable** with standardized NAV/APY and disclosure-driven transparency *** #### Where does the yield come from? eUSD’s yield can come from three primary sources (allocation varies over time): 1. **RWA Yield**\ Rate- and credit-driven yield from real-world asset exposure, structured and disclosed via eUSD documentation. 2. **AI Infrastructure Yield**\ Yield generated from exposure to AI-infra cashflow opportunities (e.g., capacity / compute-linked yield structures), implemented through the product’s disclosed strategy sleeves and counterparties. 3. **SEI Lending Yield Tokens**\ Onchain lending yields driven by borrow demand in SEI markets and protocols (via lending vaults / yield tokens). Each sleeve’s **venues, drivers, and constraints** is shown on the eUSD transparency page / factsheet. *** #### Is the APY “real,” or does it include points and incentives? Displayed APY reflects **realized, mark-to-market yield**.\ **Unrealized incentives** (points, airdrops, emissions) are **not included** in APY and are **additive** only if they materialize. *** #### What fees do I pay? Displayed APY is **net of fees**. Fees are disclosed on the **eUSD factsheet** and may include: * **Management fee** and/or **performance fee** *** #### How do I get started? Typical onboarding flow: 1. Visit the **Evolve app** (eUSD page) 2. Connect your EVM wallet 3. Deposit supported collateral (as listed) 4. Mint **eUSD** (instantly) *** #### How long does redemption take? Redemption can take **few hours to \~T+2** days. *** #### Do I need KYC/KYB? Who is eligible? No *** #### Are there minimums, maximums, or caps? No *** #### What does “yield-bearing stablecoin” mean? It means you receive an **ERC-20 token (eUSD)** that aims to track USD value while earning yield through portfolio performance. You can typically: * **Hold** eUSD * **Redeem** eUSD (per terms) * **Use eUSD in DeFi** on SEI (LP, collateral, leverage looping, tranching, etc.), where supported *** #### Who manages the capital? eUSD is managed under Evolve’s disclosed allocation framework. Evolve may rebalance across sleeves based on: * Liquidity needs (redemption capacity) * Risk limits (concentration, counterparty, protocol exposure) * Market conditions (rates, spreads, onchain lending demand) If third-party operators or counterparties are involved, their role and oversight are disclosed in the factsheet. *** #### How does Evolve handle custody and security? Evolve uses institutional-grade controls where applicable, such as: * **Segregated custody wallets** and policy-controlled signers * **Segregated venue/protocol positions** for sleeve-level accounting * **Least-privilege access**, approvals, monitoring, and incident playbooks Custody/control models are disclosed per sleeve where relevant (especially for RWA and AI infra exposures). *** #### What risks should I understand? Key risk categories include: * **Market risk** (rates, spreads, credit) * **Liquidity risk** (queues, redemption windows, market depth) * **Counterparty risk** (issuers, custodians, borrowers, venues) * **Smart contract / protocol risk** (SEI DeFi, integrations) * **Operational risk** (controls, processes, execution) * **Regulatory / eligibility risk** (jurisdiction restrictions, access constraints) If the underlying portfolio loses value, **eUSD NAV can decline**. *** #### What happens in stressed markets or a black swan? Behavior is product-defined and may include: * **Redemptions moving into a queue** * **Reduced risk exposure** / rotation toward higher-liquidity sleeves * **Orderly unwinds** rather than forced liquidations Illustrative example: * eUSD TVL: **$100M** * You hold: **$1M** (1% of supply) * Instant liquidity drops from **100% → 20%** * Remaining redemptions settle over a disclosed window (e.g., **T+2**) * If NAV changes during unwinds, settlement occurs at the **updated NAV** *** #### Is APY net of fees? Yes. Displayed APY is always **net of fees**. *** #### How is NAV (token price) calculated? A standard definition: **NAV = (Assets − Liabilities) ÷ eUSD Supply** The eUSD factsheet should disclose: * Pricing sources / valuation policy * Any buffers/haircuts (if used) * Treatment of accrued yield and costs *** #### How often is NAV updated? NAV cadence is disclosed (commonly **daily**, sometimes **event-driven**).\ If an epoch-based update or anti-front-running mechanism exists, it will be disclosed. In general: * NAV may update on a schedule for predictability * Material downside updates may be applied immediately if specified *** #### Is eUSD a bank deposit or insured product? No. eUSD is **not a bank deposit** and does not carry deposit insurance. It is a **tokenized yield product** governed by its disclosed terms and risk factors. *** #### What does transparency look like? Where feasible, eUSD provides standardized disclosure of: * **NAV, APY, TVL history** * **Sleeve breakdown** (RWA vs AI infra vs SEI lending yield tokens) * Counterparty / venue exposure (where applicable) * Redemption liquidity and queue status * Attestations / audit reports *** #### Can I borrow against eUSD? Potentially, yes—if eUSD is listed or supported by SEI lending markets or partner venues such as Takara Lend, Yei and/or Morpho markets on SEI. Availability depends on ecosystem support and risk parameters set by those protocols. *** #### Is Evolve DeFi-native or institutional-grade? Both: **institutional-style controls and disclosure**, with **DeFi-native distribution and composability** on SEI. *** #### Want to integrate eUSD into your product? Evolve can support integration rails (as applicable): * List eUSD in your app * Display NAV/APY + key terms * Enable mint + redemption flows (including request → processing if queued) * Support DeFi utility paths on SEI where supported (collateral, LP, looping) --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. 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