Vault shares
Vault shares are a token in your wallet that represents your part of the vault. Each vault has its own share token: View fees, in the deposit form, shows its symbol as a “Redeemable” receipt. The number of shares you receive depends on the share price at the time of your deposit. When you withdraw, your shares are redeemed at the share price of that moment.How your position earns
Yield does not arrive as separate payments. It shows up in the share price: when the strategy earns, each share is worth more, and when it loses, each share is worth less. The number of shares you hold only changes when you deposit or withdraw. Once you hold shares, Your position, under the vault chart, shows:
Your position also lists your open withdrawal requests and your recent deposits and withdrawals, and the Position tab of the chart shows its value over time. The amount you receive when you withdraw can differ slightly from the Value, because it uses the share price at that time.
On some vaults, incentives are added to the vault too, which also raises the share price. See Boosted APY and incentives
Estimated share price
Some of a vault’s holdings have no live market price, such as loans that are still running. Their value is posted by the curator’s pricing key, and the vault smart contract limits how fast that value can move. Between two updates, the share price is an estimate. Before every deposit and withdrawal, the vault takes a fresh snapshot of its prices, so no one deposits or withdraws at an outdated price.Target APY and measured performance
A vault shows its target and what it actually earned:
A vault without a target shows “No curator target”. The 7-day APY needs 7 days of share price history: a new vault shows “N/A” until then. Over short periods, the measured figures can swing far above or below the target.
Boosted APY and incentives
Some vaults receive incentives, paid by Jupiter, in addition to their strategy yield. Incentives are not paid to your wallet: they are added to the vault and raise the share price, like the strategy yield. A boosted vault’s APY shows a sparkle icon and includes the incentives, and the vault page shows it as Net APY. Hover or tap it to open the Boosted APY breakdown:
Incentives run for a limited time. The breakdown shows when they end, for example “Incentives end on” followed by a date, and ended incentives drop out of the total.
Projected Yearly Earnings, in the deposit form, and the yield simulator leave incentives out: they only use the strategy APY.
Yield simulator
Estimate earnings, at the top of the vault page, opens a yield simulator. Enter:- An initial deposit
- An optional monthly contribution
- A net APY: the curator’s target by default, without incentives
- A period in years