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

# Vaults Overview

Two vaults are planned, one is live. Both are deployed on Lagoon Finance on Ethereum mainnet.

## Flint USD (live)

|                   |                                                  |
| ----------------- | ------------------------------------------------ |
| Asset             | USDC                                             |
| Network           | Ethereum                                         |
| APR               | \~10% target yield                               |
| Distribution      | Weekly, on-chain                                 |
| Underlying        | opLend bonds backed by real estate operations    |
| Duration          | \~18 months average                              |
| Currency exposure | EUR (the underlying bonds are euro-denominated)  |
| Access            | [app.lagoon.finance](https://app.lagoon.finance) |

The flagship vault. Your USDC gets deployed into euro-backed real estate debt bonds originated through lend.xyz. Interest from real estate operations flows back weekly to depositors.

While you deposit and receive USDC, the bonds underneath are EUR-denominated, so there's indirect EUR/USD exposure baked in. It's disclosed, it's not hedged by default. More detail in the [Risk Framework](/flintrwa-docs/risks/risk-framework.md).

## Flint EUR (coming soon)

|         |                 |
| ------- | --------------- |
| Asset   | EUR stablecoin  |
| Network | Ethereum        |
| APR     | \~10% (planned) |

The same strategy without the currency conversion layer, for depositors who prefer EUR-denominated exposure end to end.

## Idle liquidity: Steakhouse Prime USDC

Between deployment cycles or while a deposit is pending settlement, idle USDC gets routed to Steakhouse Prime USDC on Morpho Blue. It earns yield in the meantime (\~4% APY) with no lock-up, so capital isn't sitting dormant while it waits.

|          |                      |
| -------- | -------------------- |
| Operator | Steakhouse Financial |
| APY      | \~4% (live)          |
| TVL      | $64M+                |
| Lock-up  | None                 |

***

*Next:* [*Strategy*](/flintrwa-docs/strategy/real-estate-debt.md)


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