> ## Documentation Index
> Fetch the complete documentation index at: https://yieldxyz.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Paxos Labs

> Deposit PYUSD, USDC, or USDG into a Paxos Labs Treasury vault on Ethereum and withdraw through a fulfillment queue.

Paxos Labs runs two Treasury vaults on Ethereum, each a `real_world_asset` yield: depositing a supported stablecoin mints a share token whose exchange rate against the vault's base asset reflects accrued yield.

## Availability

| Vault | Base token | Deposit tokens (`inputToken`) | Share token | Yield ID |
| - | - | - | - | - |
| USDG Treasury | USDG | USDG, USDC, PYUSD | `fdfUSDGt` | `ethereum-fdfusdgt-paxos-vault` |
| PYUSD Treasury | PYUSD | PYUSD, USDC, USDG | `fdfPYUSDt` | `ethereum-fdfpyusdt-paxos-vault` |

`kycRequired` is `false` for both vaults: there is no onboarding flow, and entering does not require a KYC handoff. List Paxos Labs yields enabled for your project with [`GET /v1/yields`](/api-reference/YieldsController_getYields) filtered by `providers=paxos-labs`.

## Entering

The enter argument is `amount` plus an optional `inputToken` to choose which of the vault's supported stablecoins to deposit; omitting it deposits the vault's base token. When the current allowance on the chosen deposit token is insufficient, an `APPROVAL` step precedes the deposit.

The deposit transaction calls the vault's depositor contract with an `_attestation` parameter, but yield.xyz always sends an empty attestation on this call. You don't fetch or supply an attestation yourself; there is nothing to do here beyond signing the deposit transaction yield.xyz returns. Deposits settle atomically: shares are minted in the same transaction.

## Exiting

Exiting does not return the stablecoin directly. The exit argument is `amount` (or `shareAmount`, `shareAmountRaw`, or `useMaxAmount`) plus an optional `outputToken` to choose which supported stablecoin the payout is denominated in; omitting it pays out in the vault's base token. Submitting it calls the withdrawal queue's `submitOrder` and creates a queued order rather than withdrawing instantly. An `APPROVAL` step on the share token precedes the order when its allowance is insufficient.

<Warning>
  Each vault enforces a minimum withdrawal order size, read live from the withdrawal queue contract (`minimumOrderSize`); a smaller request is rejected before a transaction is built. Withdrawal orders sit in a fulfillment cooldown (`cooldownPeriod`) of 1 day per vault, and there is no separate claim transaction: the chosen stablecoin lands directly in your address once Paxos Labs fulfills the order.
</Warning>

## Position and balances

While holding shares, your address reports an `active` balance denominated in the vault's base token, valued by the accountant contract's live exchange rate; reward claiming is automatic, with no separate reward token or claim step. A withdrawal order in flight reports as an `exiting` balance until Paxos Labs fulfills it, at which point it drops out of the balance response and the payout stablecoin arrives in your wallet.

<Note>
  Both vaults can also be paused at the protocol level: while paused, `status.enter` and `status.exit` are `false` for that vault.
</Note>

## Next steps

<Columns cols={2}>
  <Card title="Asset coverage" icon="building-columns" href="/documentation/earn/rwas/coverage/assets">
    Compare Paxos Labs's Treasury vaults with other tokenized RWA products.
  </Card>

  <Card title="Action lifecycle" icon="arrows-rotate" href="/documentation/earn/core-concepts/actions">
    Request, sign, and submit enter and exit actions.
  </Card>
</Columns>


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