> For the complete documentation index, see [llms.txt](https://docs.zirodelta.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.zirodelta.com/vault/overview.md). # Overview The vault is the pooled product at the center of the Zirodelta Financial Engine: it is what you deposit into to earn, and it is also how wzdUSD stays backed. It is not open to user funds yet, and it opens only after an independent security audit and a legal review. ## How it works When the vault opens, you deposit USDC and receive **wzdUSD**, a market-priced share of the pool. You are not opening a position of your own: the [Yield Engine](/the-zirodelta-financial-engine/overview.md) runs a single delta-neutral strategy for the whole pool, and the funding it captures compounds into the value of every share. To exit, you redeem your wzdUSD back at its current value. The pool is split into two tranches: * **Senior** is the wzdUSD share you hold: the working, market-priced dollar you earn and are paid in. * **Junior** is a first-loss buffer that absorbs losses before they reach senior holders. That structure, not a promise, is what protects the dollar you hold. ## What backs wzdUSD Every wzdUSD is minted only against locked collateral backed by real USDC. The vault is where that collateral is held, counted, and reconciled, so the wzdUSD you hold is backed by reserves you can verify, not a number you take on faith. wzdUSD is an appreciating, market-priced dollar, not a $1 stablecoin; see [wzdUSD](/zdlt-token/wzdusd.md) for what that means. ## Status: coming, audit-gated The vault is built but unaudited, and it stays closed to user money until both: 1. An independent security audit is complete. 2. A legal review is complete. We would rather be late than custodial-careless. Until then, the strategy that produces the yield is being proven on the founder's own capital on a public address (see [The Yield Engine](/the-zirodelta-financial-engine/overview.md)), and nothing here is open to user deposits. ## What it is not This is not a borrow-against-your-tokens product, and not a deposit-for-a-fixed-APY product. There is no promised rate; the yield that reaches holders is variable and can be zero. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.zirodelta.com/vault/overview.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.