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40Acres × TRENCHES: $5M Private Deal
Deposit USDC on Base into the 40Acres Aerodrome USDC lending vault to earn a fixed minimum APR of 14% (90-day program). If the vault's natural yield exceeds 14%, LPs retain the full upside. 14% represents the downside-protected floor.
40Acres is a lending protocol for yield-bearing assets. Holders deposit revenue-generating collateral (like veAERO, ybBC/ybETH, etc.) and borrow USDC that self-repays from the collateral's on-chain cashflows. LPs in the 40Acres USDC vault earn fees from those same repayments.
Depositors allocate USDC on Base into a siloed Aerodrome USDC lending vault. Capital is lent exclusively to veAERO borrowers. The vault earns a blended yield from borrower interest and repayments funded by veAERO cashflows (fees, emissions, bribes).
Structure
Siloed lending vault
Underwriter
40Acres Credit Committee
Execution
Aerodrome USDC Vault
The vault generates yield from two primary sources: interest paid by veAERO borrowers, and borrower repayments funded by veAERO on-chain cashflows (fees, emissions, and bribes).
If natural yield is < 14%
40Acres treasury tops up the difference so LPs always receive at least the minimum.
If natural yield is ≥ 14%
LPs receive the higher natural yield with no performance fee on the excess.
APR accrual
Daily
on-chain, per-day index
Distribution
End of each month
USDC, month-end
Lock
Withdraw anytime
Soft exit
Yield accrues daily from the moment your deposit is confirmed. Payouts are distributed at the end of each month in USDC. The fixed 14% floor applies only if capital remains deposited through month-end.
If you withdraw mid-month, you earn the vault's native yield for that month only — the fixed 14% floor does not apply for partial months.
- 1DepositLPs deposit USDC into a siloed Aerodrome vault.
- 2LendingCapital lent to veAERO borrowers via non-liquidating, cashflow-based loans.
- 3Repayment & controlsAuto-repaid via veAERO yield. 80% utilization cap.