Stake USDq

sUSDq is a share of the sUSDq vault. The vault holds USDq, and every distribution adds to it, so the USDq behind each share only grows. You never claim the yield: it is already in what your sUSDq is worth.

It is an ordinary SPL token with 6 decimals, so you can hold it, send it or trade it like any other. The exchange rate lives in the program's state: tokens sent straight to the vault don't move it, so the rate always reflects the distributions alone.

1. Open the Stake tab and choose Stake.
2. Type an amount of USDq, or press Max. You receive shows the sUSDq you'll get, and the row below it the rate, 1 sUSDq = x USDq.
3. Press Stake USDq and approve. The sUSDq is in your wallet on confirmation.

sUSDq = floor(usdq × shares / total_assets)

The very first stake into the vault is one for one. Every stake after it gets shares at the current rate, so it buys none of the yield already vested.

Every 8 hours a crank called distribute turns the reserve's surplus into new USDq, and 80% of it goes to the sUSDq vault. That amount vests evenly over the next 8 hours, so sUSDq's rate climbs smoothly instead of stepping once every 8 hours.

The Stake tab's bottom edge shows the vesting in progress: 16 cells for the 8 hours, one for each half hour, with how much has vested and how long is left.

Yield and distribution explains where the surplus comes from and how its size is bounded.

The large figure on the Stake tab is sUSDq's yield over the last seven days, as a yearly rate. It compares USDq per sUSDq now with seven days ago:

rate = (r_now / r_7_days_ago) ^ (365 / 7) − 1

Until the vault is seven days old the figure reads since its first day. The strip under it has one column a day for the last 30 days; point at a column for its date and rate.

The rate depends on two things: what the reserve earns, and how much of USDq is staked. sUSDq takes 80% of the yield of the whole reserve, and shares it among the USDq that is staked, so the smaller the staked share, the higher the rate.

Unstaking burns your sUSDq and sets aside the USDq it was worth at that moment, in a cooldown that belongs to your wallet. After 7 days you claim it.

1. On the Stake tab choose Unstake, and type the sUSDq to unstake or press Max.
2. The pane shows the USDq that will be locked and the date it unlocks.
3. Press Unstake sUSDq and approve. The cooldown row appears in your position, with one cell for each day.
4. When the last day passes, the Stake tab's cell lights, the account sheet lists the claim under Ready now, and your position shows a Claim button with the amount. Press it to receive the USDq.

Unstaking again during a cooldown

A second unstake adds its USDq to the amount already cooling and starts the 7 days again for the total. If your earlier cooldown has already ended, the app claims it in the same transaction first, so nothing that was ready waits another 7 days.

sUSDq keeps earning wherever it is held, because the yield is in its rate. A program that wants its worth reads one number, USDq per share, from the aequa program's vault account. To turn it back into USDq, bring it to the Stake tab and unstake.