> For the complete documentation index, see [llms.txt](https://thanasdefitools.gitbook.io/thanasdefitools-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://thanasdefitools.gitbook.io/thanasdefitools-docs/yield-vaults/what-are-the-yield-vaults.md).

# What Are the Yield Vaults?

The yield vaults are tokens that do the staking and the harvesting for you. You deposit an Enosys token, you get a vault token back, and the vault token slowly becomes worth more of the token you put in.

| Vault | You deposit | You receive | Where the yield comes from                                                         | Network  |
| ----- | ----------- | ----------- | ---------------------------------------------------------------------------------- | -------- |
| yCDP  | CDP         | yCDP        | Enosys Loans stability pools: interest, liquidation gains, APS and rFLR incentives | Flare    |
| yAPS  | APS         | yAPS        | Enosys governance staking rewards, every reward token sold for APS                 | Flare    |
| yHLN  | HLN         | yHLN        | Enosys governance staking rewards, every reward token sold for HLN                 | Flare    |
| ySFIN | SFIN        | ySFIN       | Enosys governance staking rewards on Songbird, sold for SFIN                       | Songbird |
| yEXFI | EXFI        | yEXFI       | Enosys governance staking rewards on Songbird, sold for EXFI                       | Songbird |

They live at [thanasdefitools.xyz/vaults](https://thanasdefitools.xyz/vaults). Each vault follows the ERC-4626 standard, so wallets, explorers and other protocols already know how to read it. Each vault page shows its contract address and has an **Add to wallet** button.

## How the value grows

The vault keeps everything staked. When rewards arrive, anyone can run the harvest and earn a small bounty for doing it. The vault sells the rewards for the deposit token, restakes them, and releases the gain into the share price over a short window. Your number of vault tokens does not change; each one is worth more of the underlying token over time.

## Withdrawing

You can redeem at any time for your share of what the vault holds. Withdrawals cannot be paused: not by the team, not by a broken price feed, not by a stuck pool. yCDP can briefly limit how much is withdrawable in one go right after a large liquidation, while it sells the collateral back into CDP; the rest becomes available as those sales go through.

## Fees

* **Yield fee:** 5%, taken only from realised yield. Never from your deposit, never from the vault's balance. The contracts cap it at 10%.
* **Harvest bounty:** 0.1% of the yield a harvest produces, paid to whoever runs it.
* **Exit fee:** 0.01% (one basis point) of a withdrawal. It stays in the vault for the remaining holders and only exists to make deposit-and-leave tricks around a known payout unprofitable.

Details in [Yield, Fees, and the Share Price](/thanasdefitools-docs/yield-vaults/yield-fees-and-share-price.md).

## The share price can fall

For yCDP, a liquidation whose collateral is worth less than the debt it covered is booked as a loss as soon as it is known. For the governance vaults, every governance proposal charges every staker a tiny fee (billionths of the balance) that is refunded if the proposal is defeated. Each vault's **Stats** page lists every loss with its date and size.

## Who runs it

Each vault is owned by a 48-hour timelock: any change is public for two days before it can take effect. A guardian can pause deposits and reduce risk but can never touch withdrawals. See [Admin and Guardian](/thanasdefitools-docs/yield-vaults/admin-and-guardian.md).

## Status

* **Beta.** The vaults are a beta product: use them at your own risk. Each vault page says so at the top.
* **Networks:** yCDP, yAPS and yHLN on Flare; ySFIN and yEXFI on Songbird.
* **Audit:** the contracts have had several internal review passes but **no independent external audit yet**. Read [Risks and FAQs](/thanasdefitools-docs/yield-vaults/risks-and-faqs.md) and start with small amounts.
* **Addresses:** [Yield Vault Contracts](/thanasdefitools-docs/for-developers/vault-contracts.md).