> For the complete documentation index, see [llms.txt](https://docs.piku.co/piku/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.piku.co/piku/resources/faq.md). # FAQ #### **What is a vault?** A vault is an investment vehicle that pools assets and deploys them according to a predefined strategy. Each Piku vault has its own underlying strategy, risk profile, yield source, and terms. #### **Where does the yield come from?** Yield is generated by the underlying strategies of each vault and accrues to depositors through an increase in the vault’s NAV or token price. Depending on the vault, returns may come from strategies such as money-market instruments, FX, carry, or basis trades. #### **How do I get involved with PikuDAO?** Getting involved with PikuDAO can be achieved through various means. These are: * Joining Telegram and Discord to participate actively within the community. * Following up our Governance Forum to discuss and support best ideas on the future direction of Piku * Claiming its utility token PIKU to have a voice in the governance process. #### **How is the yield distributed?** Yield is generated by the underlying strategies of each vault and accrues to depositors through an increase in the vault’s NAV or token price. Depending on the vault, returns may come from strategies such as money-market instruments, FX, carry, or basis trades. Each vault’s documentation provides details on its specific yield source and distribution mechanism. Additional PIKU ecosystem rewards may also be offered separately for eligible vaults or positions. #### What is the strategy of the CarryTradeUSDTRYLeverage Vault? The vault seeks to generate yield from the interest-rate differential between the Turkish lira and the US dollar. The strategy combines TRY-denominated yield-generating assets with USD/TRY futures positions to create a leveraged carry trade while managing the resulting currency exposure. #### What is the strategy of the USP Yield Vault? USP is backed by a diversified portfolio of USD-denominated yield strategies. The vault allocates capital across selected underlying strategies to generate yield while maintaining a USD-denominated exposure. The generated yield accrues to USP holders through an increase in the price of USP. #### What is the strategy of the StockMarketTRBasisTrade Vault? The vault seeks to capture the basis between selected Borsa İstanbul equities and their corresponding equity futures. The strategy combines long positions in the underlying equities with short futures positions to reduce directional equity-market exposure. #### What is the strategy of the FXArbUSDTRY Vault? The vault seeks to generate USD-denominated returns by capturing opportunities in the Turkish money-market and FX markets. The strategy uses regulated financial instruments and USD/TRY exposure to capture differences in pricing and funding rates while managing currency risk. #### **How is USP inflation protected?** At its core, USP is designed to be a yield vault and its price increases as the strategies create a return. USP increases in value against USD and the purchasing power of USP holders increase over time. #### **Can everyone signup and use USP?** USP token is designed to be permissionless and can be exchanged between anybody. However, during phase 1, only Non-US individuals and businesses can mint and redeem USP. #### **How secure is the Piku Platform and governance?** PikuDAO places the highest importance on the security and safety of transactions to fulfill the mission of the Piku ecosystem. To ensure this, the founding team collaborates with experts and third-party auditors to verify that all smart contracts are robust and secure. This includes conducting regular reviews of the code to maintain the highest security standards. #### **Will there be a PIKU airdrop?** Piku ecosystem will be owned by its users. PIKU Utility tokens, will be distributed to the Piku community. While Piku users generate yield by holding vault share tokens, they will also be rewarded with PIKU utility tokens. #### What assets can I deposit? Deposit assets depend on the individual vault. Most Piku vaults are denominated in USD or USD-backed assets, but the accepted deposit asset and conversion mechanism are specified on each vault’s page. #### Can I withdraw my funds at any time? Withdrawal terms depend on the vault and its underlying strategy. Some vaults may offer onchain liquidity, while others may require a redemption or settlement period due to the nature of their underlying assets. #### What risks do Piku vaults have? Each vault carries risks associated with its underlying strategy, assets, counterparties, liquidity, smart contracts, and market conditions. The risks can differ significantly between vaults, so users should review the individual vault documentation before depositing. #### Does Piku guarantee the displayed APY? No. Displayed APY figures are based on historical or current performance and are not guaranteed. Future returns may be higher or lower depending on the performance of the underlying strategy. #### How is the vault price calculated? The vault price is based on the value of the assets and positions held by the vault, adjusted for applicable liabilities, fees, and other relevant factors. The methodology may vary depending on the vault and is described in its documentation. #### How can I track my position? Your position, vault value, and relevant performance information can be tracked through the Piku platform. Where available, underlying transactions and positions can also be verified through onchain data. #### Are the underlying assets held by Piku? Asset custody and management depend on the specific vault and strategy. Piku may use regulated financial institutions, custodians, trading venues, and onchain custody infrastructure as part of the strategy. The relevant arrangements are disclosed for each vault where applicable. #### Are Piku vaults audited? Piku uses independent security and infrastructure providers where appropriate. The scope of any audit, attestation, or review depends on the specific vault or component, and relevant reports are made available where applicable. #### How do I choose a vault? Each vault has a different strategy, expected return, liquidity profile, and risk exposure. Users should review the vault’s strategy, underlying assets, risks, fees, liquidity terms, and historical performance before deciding whether it is suitable for them.