> For the complete documentation index, see [llms.txt](https://docs.usance.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usance.xyz/use-it/earn.md). # Earn The lending side of Usance. Borrowers post assets Usance has read and priced. You supply the **settlement asset** they draw against and earn the financing they pay. ## What the page shows, and what it refuses to Usance deliberately does **not** show an "Earn 8.4% APY" card. A headline APY is a projection dressed as a promise, because realised lender yield depends on utilisation, on borrowers repaying, and on whether anything defaults. Instead the vault shows what can actually be read from the contract: * **Total supplied**, **utilisation**, **available cash**, and **deployed principal**, showing where the money currently is. * **What borrowers pay right now**, split into the protocol's share and the share that accrues to lenders. This is the current rate, not a forecast of what you will earn. ## Getting your capital back Capital that is lent out cannot be redeemed on demand. What you can take today is the vault's **available cash**. Redemptions that cannot be paid now join a **withdrawal queue** that is paid in order, ahead of new lending. Your shares are burned when you join the queue, so a later default cannot shrink a claim you have already exited. ## Losses A **reserve** absorbs the first loss. Only what the reserve cannot cover reduces lender value, and losses stay **inside the vault for that asset**. They are never spread to lenders who supplied against a different asset. Every figure on the page is read from the deployed contract. Where one cannot be read, the field says so rather than rendering a zero that reads like a fact. On testnet the settlement asset is a labelled stand-in (`tUSD`) with no real value. See [Networks and what is live](/understand-it/networks.md). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.usance.xyz/use-it/earn.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.