# bravUSDC

## Avant+ DeFi Yield 

Bracket is pleased to present the Avant+ DeFi Yield Strategy.

**Administrator:**\
[Boreal](https://boreal.xyz/)\
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**Deposit:** Daily\
**Withdrawals Requests:** t+1 \
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**About the Strategy:**\
The strategy is to deploy USDC into the Avant ecosystem which by default will be savUSD, but will also take advantage of incentivized liquidity pools, borrow/lend arbitrage, and fixed rate yield opportunities once available. <br>

***DISCLAIMER: This strategy includes layered leveraged exposure, including exposure to Avant managed assets, which should be considered a more aggressive risk profile. Please review the wallets for your own due diligence.*** \
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***bravUSDC and the corresponding wrapped aset wbravUSDC are NOT stablecoins, they are vault receipt tokens.***

| Policy Managed Wallet                      |
| ------------------------------------------ |
| 0x8DFC158aE5EF57996950a219122F3D925457Eb0E |

<table><thead><tr><th>Vault Token Symbol</th><th>Description</th><th>Contract Address</th><th data-hidden></th></tr></thead><tbody><tr><td>bravUSDC</td><td>Rebasing vault token</td><td>0x9f96E4B65059b0398B922792d3fF9F10B4567533</td><td></td></tr></tbody></table>

<table><thead><tr><th>Wrapped Vault Token (non-rebasing)</th><th>Description</th><th>Contract Address</th><th data-hidden></th></tr></thead><tbody><tr><td>wbravUSDC</td><td>Non-rebasing vault token that may be deployable in external markets </td><td>0x7309E1E2e74af170c69bdE8FCB30397f8697D5FF</td><td></td></tr></tbody></table>

<table><thead><tr><th>Deposit assets supported</th><th data-hidden></th></tr></thead><tbody><tr><td>USDC (ETH L1)</td><td></td></tr></tbody></table>

**Fees:**

| Fee type    | Fee  | Notes                                                           |
| ----------- | ---- | --------------------------------------------------------------- |
| Performance | 20%  | Must exceed water mark for positive return                      |
| TVL         | 1.5% | Bracket platform flat fee (1.0%) + Boreal management fee (0.5%) |

**Source of yield:**

* As the ecosystem matures and additional opportunities arise, the strategy will dynamically allocate capital to higher-yielding Avant-native protocols.

  * **Incentivized Liquidity Pools:**\
    Participating in protocol-native liquidity pools where yield is enhanced through Avant or partner token rewards. These pools provide both base yield and ecosystem incentives, compounding potential returns.
  * **Borrowing /Lending Arbitrage:**\
    Taking advantage of interest rate inefficiencies between Avant’s borrowing / lending markets and external protocols
  * **Fixed-Rate Yield Opportunities:**\
    When fixed-income vaults or tranches become available within Avant or affiliated protocols, capital will be rotated into these positions to lock in stable yields, ideal for predictable income generation and risk management.

  The strategy is designed to be capital-efficient, modular, and responsive to yield opportunities as they emerge in the Avant ecosystem. Risk is managed by limiting exposure to concentration or liquidity fragmentation risks. Over time, as Avant introduces additional primitives or integrates with other protocols, the strategy will adapt.<br>

**Enforced Capabilities:**\
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**Policy Managed Wallet Address:** \
**0x8DFC158aE5EF57996950a219122F3D925457Eb0E**\
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Funds movement is limited by the Bracket Protector for MPC wallets, the Policy Managed Wallet, with Bracket Platform serving as a policy administrator. Neither Bracket nor the Vault Administrator can unilaterally withdraw funds out of this wallet. Funds are non-custodial and limited to the following protocols, assets, and bridges:\
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**Chains:**\
Ethereum, Avalanche (primary), Base (as available), Hyperliquid (as available), Plasma\
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**Decentralized Exchanges (DEXs)**

The strategy leverages top DEXs to enable efficient asset swapping, liquidity provisioning, and yield opportunities:<br>

* Trader Joe: A leading DEX on Avalanche C-Chain
* Pharaoh: Next Generation DEX, Concentrated Liquidity on Avalanche C-Chain
* Uniswap V2/V3:  Versatile DEX with concentrated liquidity
* Pendle: Typically a yield protocol, however, this strategy uses for some swaps&#x20;
* Rewards : Blackhole DEX on avalanche protocol - used for BLACK rewards opportunities and some LP positions. WXPL - Wrapped Plasma token, received as rewards

**Lending and Borrowing Protocols**

The strategy optimizes capital efficiency by employing robust borrowing / lending protocols:

* Silo Finance: A decentralized lending protocol that creates isolated lending markets to minimize risk between assets.
* Euler: A non-custodial DeFi lending protocol that enables permissionless borrowing and lending with innovative risk management.
* Benqi: A decentralized finance DeFi protocol on Avalanche that offers liquid staking and algorithmic lending markets, enabling users to earn yield on AVAX and other assets while maintaining on-chain liquidity.

**Yield - Other**

* The strategy integrates Avant protocol to access Avant assets. These carry native yields.&#x20;
  * Avant: a decentralized stablecoin protocol on Avalanche that enables users to mint yield-bearing assets backed by strategies including delta-neutral, and market-neutral yields.&#x20;
  * To find out more about Avant, please visit <https://www.avantprotocol.com/>&#x20;
  * ***\*Avant has risks including protocol risk, manager risk, and oracle risks. Please read through the risks before participation.*** [***https://docs.avantprotocol.com/disclaimers-and-other/risks***](https://docs.avantprotocol.com/disclaimers-and-other/risks)

**Cross-Chain Bridges**

The strategy integrates various cross-chain bridges:

* Stargate, Avalanche Core Bridge: Secure and efficient cross-chain solutions
* CCTP: Circle-powered stablecoin transfers

**Supported Assets**

The strategy supports a wide range of assets for liquidity, stability, and innovation:<br>

* Avant Assets: avUSD, savUSD (staked), savBTC&#x20;
* Other BTC assets: BTC.b
* Stablecoins: USDC, USDT, USDT0, USDC.e
* Other native tokens: AVAX, wAVAX
* Related LP assets: Silo/Euler have respective LP assets that are issued, the strategy will have exposure to these assets by participating in those markets

**Blockchain Networks**

The strategy ensures interoperability by utilizing multiple blockchain networks:\
Ethereum, Avalanche (primary), Base (as available), Hyperliquid (as available)

**Enforced Deposit and Withdrawal Policies:**\
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\&#xNAN;***Note that withdrawals are locked during the NAV update period, 18:00 UTC (2:00pm EDT) + \~2hrs***\
***Deposits can be made during the lock period.*** \
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<table><thead><tr><th>Action Type</th><th width="353">Cutoff</th></tr></thead><tbody><tr><td>Deposit Request</td><td>Daily, submit prior to 18:00 UTC (2:00pm EDT)</td></tr><tr><td>Deposit Processed</td><td>18:00 UTC (2:00pm EDT) + ~2hrs</td></tr><tr><td>Withdrawal Request</td><td>Submit prior to 18:00 UTC (2:00pm EDT)</td></tr><tr><td>Withdrawal Processed</td><td>Daily requests, but <em>rolling</em> daily schedule. Submit prior to 18:00 UTC, (2:00pm EDT); Typically available 1 day later + ~2hrs for processing</td></tr></tbody></table>

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***Disclaimer**: Dates listed above may be subject to change with or without notice. Supported assets, wallets, and/or protocols may be updated in line with* [changing-a-vaults-investment-policy](https://docs.bracket.fi/product/bracket-platform/changing-a-vaults-investment-policy "mention") *rules. \*Target rate for the vault is illustrative and the reported rate will depend on actual performance. Eligible users only, please see* [*Terms and Conditions*](https://www.bracket.fi/terms-of-service) *for more information.*&#x20;