Yield on idle USDC

Where the balance sits between rolls, and who the yield belongs to.

A ball takes time to fill. In between rolls the balance would otherwise sit still, so it is parked in short-dated tokenized treasuries and earns while it waits.

Who the yield belongs to

Holders. Yield accrues to the ball itself, not to a treasury or a team wallet, so it is distributed by the next roll exactly like fee income. There is no separate claim for it and no separate accounting — from the contract's point of view it is simply the balance going up.

How it is parked

• Only the balance above a working buffer is swept, so a roll never waits on a redemption that has not settled.
• Only short tenors are used. The redemption window must be shorter than the roll cooldown, so the ball can always be made liquid before it is needed.
• The venue is a parameter, and changing it is a governed action with a timelock. It cannot be switched quietly.

What this adds, honestly

Not much, and that is fine. At a 25,000 USDC ball filling over a few days, treasury yield contributes single-digit dollars per roll. It is not the product. It is there because leaving the balance idle would be leaving money on the table, and the money belongs to holders either way.

Turning it off

The sweep can be disabled entirely, in which case the balance simply sits in the ball as USDC and the protocol keeps working exactly as described everywhere else. Nothing downstream depends on the yield leg.