exUSDC

Last updated: 8 October 2026.

USD-denominated yield-bearing token.

exUSDC represents a growing claim on USDC. Deposit USDC, receive exUSDC, and earn yield as the exchange rate increases. Your position stays in dollar terms, with no crypto price exposure.

Key Facts

How Yield Is Generated

The exUSDC vault deploys USDC across multiple strategies including multi-protocol lending, collateralized lending, and institutional credit products across Kamino and JupLend.

Exchange Rate Mechanics

The exUSDC exchange rate is set on-chain:

1. The APY is set on-chain on the exUSDC pair account. The current rate is 10%.
2. The exchange rate compounds every 8 hours based on the set APY.
3. No performance or management fee is deducted. The set APY is the rate at which the exchange rate grows.

The rate is variable and is adjusted based on realized performance. The rate and its history are publicly verifiable on the pair account (see On-Chain Verification).

Withdrawal Process

exUSDC withdrawals run on a weekly cycle:

1. Request window: Withdrawal requests can be placed at any time. Each window closes on Monday at 12:00 UTC; a request can be cancelled until its window closes.
2. Claim: Claims open on Thursday at 12:00 UTC, three days after the close, and remain claimable for 30 days.
3. Fee: 0.2% redemption fee on the amount withdrawn.

Example: a request placed on 10 October is claimable from 6 November 12:00 UTC, and must be claimed within 30 days of that date.

Risks