Distributing yield

Trigger, cadence, and notice

Yield distribution should only be triggered after the off chain cash flow is settled, reconciled against custody records, and signed off internally. Publish a short advance notice (date, approximate block window, source of yield) so holders understand when the snapshot will be taken. Trading continues normally.

How holders use EVEC

Holders can reinvest by swapping EVEC for vault tokens via the reinvest function, or redeem EVEC after required checks to receive payout in $XVAULT. At MVP, redemption settles in $XVAULT first. Users can then trade for USDC or off ramp using their preferred path.

Operational steps

1. Finalize the yield off chain and record invoices, statements, and dates.

2. Call triggerYieldDistribution(amountEVEC, memoURI) from the custodian role.

3. Verify the emitted DistributionTriggered event and the per holder transfers.

4. Publish the memo that explains source, period, gross and net amounts, fees if any, and links to the on chain transaction.

Records

Keep the memo, supporting documents, and the transaction hash. Version the memo if corrected.