> ## Documentation Index
> Fetch the complete documentation index at: https://docs.mellow.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Overview

> How the USDG Yield Vault works: a Core Vault on Robinhood Chain running a capped stablecoin carry strategy with Morpho markets underneath, with deposits and withdrawals in USDG.

The USDG Yield Vault is a Core Vault on Robinhood Chain. It accepts USDG, the stablecoin issued by Paxos, and runs a capped stablecoin carry strategy with Morpho markets underneath. Mellow is appointed to provide curation services for the vault.

Users deposit and withdraw through the Mellow interface at [app.mellow.finance/vaults/robinhood-usdg-yield-vault](https://app.mellow.finance/vaults/robinhood-usdg-yield-vault). Depositors receive rUSDG, the vault's share token, which represents their portion of the vault. Depositors do not manage any positions themselves. The strategy's results are reflected in the rUSDG price.

## Deposits and withdrawals

Deposits are made in USDG.

Withdrawals take two steps. The depositor requests a withdrawal, then claims USDG once the request is processed. Withdrawals typically take 2–3 days.

## Security

Core Vaults have been audited by Sherlock and Nethermind, with further module and upgrade audits by Nethermind and MixBytes. The reports are listed on the [Security](/security) page. A live [bug bounty on Sherlock](https://audits.sherlock.xyz/bug-bounties/125) offers up to 100,000 USDC for valid findings.

Vault roles and their addresses are listed on the [Deployments](/usdg-vault/deployments) page.

## For integrators

For contract-level integration, see the [Core Vaults integration guide](/core-vaults-integration-guide).

## Risks

DeFi strategies carry smart contract, market and liquidity risk, and returns are not guaranteed.