tl;dr

• L1 pre-deposit phase: aggregate assets in L1 vaults → yield to L1 multisig
  • objective: $50M pre-deposits - $100M would be ideal
• L2 mainnet phase: assets + yield bridged to L2 → distributed via revenue split
  • Non-core token fees: batched + auctioned → proceeds in uUSD or ETH (tbc)
  • objective: $150M TVL by end of 2026
• L2 net global yield: paid in ETH + uUSD only
  • calculation: [ 100% - L2 commission ] x [ (yield-bearing TVL x blended L1 yield) + native apps fees ]
  • objective: 2-3% APY on yield-bearing TVL
• Karma votes determine how that yield is spent
  • voting with Karma is permissionless, no minimum amount

Phase 1 - L1 pre-deposit

TVL pre-deposit vaults (L1 yield aggregation) End of October 2025

In the bootstrapping phase, user deposits are gathered into three distinct L1 vaults:

• ETH Vault
  • Accepts: ETH, stETH, wstETH
  • Strategy: Fully deployed into Lido, earning staking yield
• Stables Vault
  • Accepts: USDC, USDT, USDS, DAI
  • Strategy: Each stablecoin managed in its own ERC-4626 vault for more flexibility and higher capital efficiency with deployment into Morpho or Sky, depending on APY and asset risk profile
• SNT Vault
  • Accepts: SNT
  • Strategy: Held passively (no redeposit), acts as staking source

All vaults open at the same time. All yield is accumulated in a Status-controlled L1 multisig, ready to be bridged and allocated at L2 mainnet launch.

Phase 2 - L2 mainnet

L2 bridge and revenue distribution Q1 2026

Asset bridging

Once mainnet is live, vault holdings are automatically bridged to the L2 with the following logic:

• ETH → ETH on L2 (liquid bridged ETH)
• **Stables → uUSD** (Unified USD by Aragon) for simplified multi-stable representation accruing L1 yield
• SNT → Staked SNT (bridged and auto-staked, but not locked)

User-directed allocation