Single Asset Vaults are fixed-rate, fixed-term lending markets built by Splyce Finance. You deposit USDC and lend it to borrowers who post tokenized real-world assets as collateral. Your rate is locked from the moment you deposit, and each vault holds only one collateral type, keeping risk fully isolated.
Traditional DeFi lending uses variable rates, shared pools, and oracle-dependent liquidations. Single Asset Vaults replace all of that with a simpler, more predictable model.
01
Borrower Posts Collateral
A holder of freely transferable tokenized assets posts them as collateral into a vault. They borrow USDC at a fixed rate for a fixed term without selling their position.
02
You Lend USDC
You deposit USDC into a vault. Your rate is fixed from that moment, locked for the full term. You receive a vault token representing your position.
03
Yield Accrues
The borrower pays interest on their loan. Your yield comes from these real payments, not token incentives. The rate you locked at deposit is the rate you earn.
04
Maturity or Trade
At maturity, you redeem your vault token for USDC plus earned yield. Or trade your vault token onchain at any time before maturity.
Why Fixed-Rate
Why Fixed-Rate Matters
Most DeFi lending rates change by the minute. Single Asset Vaults lock your rate from day one, giving you certainty in an uncertain market.
Rate Locked at Deposit
Your rate is set the moment you deposit. It does not change for the duration of the vault term, regardless of what happens in the broader market.
Isolated Risk
Each vault holds a single collateral type. A default or depeg in one vault cannot cascade to affect another. Your risk exposure is limited to the vault you choose.
No Oracles Required
Rates are fixed at creation, so there is no price feed to manipulate or fail. No oracle dependency eliminates a major source of DeFi exploits.
Overcollateralised
Every loan is backed by collateral worth more than what was lent. If a borrower defaults, the lender has a claim on collateral held in escrow that can be liquidated permissionlessly.
FAQ
Frequently Asked Questions
What are Single Asset Vaults?
Single Asset Vaults are fixed-rate, fixed-term lending markets built by Splyce Finance. You deposit USDC and lend it to borrowers who post tokenized real-world assets as collateral. Your rate is locked from the moment you deposit, and each vault holds only one collateral type, keeping risk fully isolated.
How is the fixed rate determined?
Rates are determined by market dynamics between lenders and borrowers at the time of deposit. Once you deposit, your rate is locked for the full term of the vault. It does not change regardless of market conditions. This gives you certainty on your expected return from day one.
What happens if a borrower defaults?
Each loan is overcollateralized with freely transferable tokenized assets worth more than what was lent. If a borrower defaults, the lender has a claim on the collateral held in escrow, which can be liquidated permissionlessly. Because each vault holds a single collateral type, a default in one vault cannot cascade to affect another. Risk remains fully isolated.
Can I exit a vault before maturity?
Yes. Vault tokens are fully tradable onchain before maturity. You can sell your position on the secondary market at any time, though the price will depend on market conditions at the time of sale.
What can be used as collateral?
SAV collateral must be freely transferable. The token needs to move into the vault's escrow contract without issuer permission or third-party approval. Each vault accepts only one collateral type to maintain risk isolation.