Everything about the door, in plain words.

Bankarc is a savings vault on Arc, Circle's layer one. You deposit USDC, from one dollar, and receive svUSD, a share of one pooled position.

The pool invests where a single saver cannot. Its core is USYC, Circle's tokenised fund of short duration US Treasury bills, which asks $100,000 to get in. Bankarc meets that minimum once, as an institution, so you never have to.

In five steps:

1. 1
   You deposit USDC into the SavingsVault.
2. 2
   The vault mints svUSD to your wallet. That is your share of the pool.
3. 3
   The manager allocates the pool across sleeves, each reached through an adapter contract.
4. 4
   The sleeves earn: treasury yield from USYC, and spread from a capped slice of small business receivables.
5. 5
   Those earnings raise the price of every svUSD. You never claim anything.

Every contract that touches money checks the ComplianceRegistry first, and every figure the site shows is read from these contracts directly. Nothing is typed in by hand.

Your svUSD balance never changes on its own. What changes is the price of one svUSD in USDC. The value of your position is always your balance multiplied by that price.

Example: you deposit $100 when the price is 1.0000 and receive 100 svUSD. Later the price is 1.0400. You still hold 100 svUSD, and they are worth $104. There is no staking, no claiming and no rebasing. This is the same way USYC itself works.

Technical detail

• svUSD is a standard ERC-4626 share with 18 decimals, against USDC's 6. The 12 decimal offset keeps small deposits precise and makes the known ERC-4626 inflation attack uneconomic.
• The management fee accrues continuously by minting a small number of shares to the treasury. It dilutes slightly over time and never touches the USDC balance.
• svUSD transfers are checked too: both the sender and the receiver must be eligible in the ComplianceRegistry.

1. 1
   Check that you are eligible. The funds underneath are offered only outside the United States under Regulation S, so US persons cannot use Bankarc.
2. 2
   Get approved. Open Account, pick your country, confirm you are not a US person and sign. Signing is free; Bankarc records your address in the ComplianceRegistry within seconds and pays the gas.
3. 3
   Connect a wallet on Arc. The app offers to switch to Arc and adds the network for you. Keep a little USDC for gas.
4. 4
   Deposit. On Deposit, approve USDC once, then deposit. Before you sign, the form shows the share price, the svUSD you will receive, your room under the cap, and any reason the contract would refuse.

There are two paths, and the contract picks between them from what it can pay right now, its instant liquidity.

Instant

If your amount is covered by instant liquidity, withdraw or redeem settles in one block and USDC arrives in your wallet.

Queued

Larger amounts use requestRedeem. Your svUSD moves into escrow inside the vault. The manager unwinds a sleeve and settles requests oldest first with settleRedeemRequest. The request is priced when it settles, not when you make it, so you keep earning while you wait. You can cancel at any time before settlement and your shares come straight back.

The vault keeps part of the pool as idle USDC for fast withdrawals, targeting 10% of total assets, and allocates the rest to sleeves.

The USYC adapter reports the Teller's own instant redemption capacity, and the fixed rate sleeve never reports more than the USDC it holds, so the vault never promises money a sleeve cannot deliver.

A small business sends an invoice and waits 30 to 90 days to be paid. Bankarc can pay it now, at a small discount. When the debtor pays the invoice, the discount is the yield.

Credit can go wrong, so this book is split in two. Retail savings sit in the senior tranche and earn a fixed rate, currently 8% a year. Institutions fund the junior tranche, earn what is left, and take losses first.

Technical detail

• Each receivable is an ERC-721 in InvoiceRegistry (bINV), owned by whoever funded it. Repayments go straight to the current holder.
• The debtor is stored as a hash, and documents by reference, so the public record never exposes a business's customers.
• An invoice past its due date plus a 14 day grace period can be marked defaulted by the servicer, then written off. Any recovery after that lands as income.
• Junior shares (jvUSD) are limited to tier 3, institutional investors. Junior withdrawals are limited by cash on hand and by the 15% coverage floor.

A share that earns yield is treated as a security in most places, so svUSD is not freely transferable. Every deposit, transfer and withdrawal checks the ComplianceRegistry.

• Tiers: 1 retail, 2 accredited, 3 institutional. The savings vault accepts tier 1 and above. The junior tranche requires tier 3.
• US persons are refused at the registry level, and the US jurisdiction code (840) was blocked when the registry was deployed.
• Arc itself also blocks sanctioned addresses at runtime, so a transfer touching one reverts.

These are the live values on Arc mainnet, with the hard ceilings written into the contract.

Fees go to the treasury wallet. The admin cannot set a fee above its ceiling. The contract refuses it.

• Separate wallets. Admin, manager, guardian, compliance and treasury are five different wallets. The deployer handed every role over and its key was wiped.
• Pause is one way. The guardian can pause deposits and withdrawals in an emergency. Only the admin can unpause.
• Not upgradeable. The contracts have no proxy. The code that is verified on the explorer is the code that runs, and it cannot be swapped.
• Verified source. All six contracts are verified on explorer.arc.io with an exact match, compiler v0.8.28.
• Standard building blocks. OpenZeppelin v5, reentrancy guards on every entry point, SafeERC20 for every transfer, and nothing is ever sent to the zero address, which reverts on Arc.

All on Arc mainnet, chain 5042. Click any address to open it on the explorer.

$BANKARC is the community token around Bankarc. It launched on Argus, on Arc, with a fixed supply of 1,000,000,000 and nothing held back for a team.

We would rather you read this here than find it later.

• Smart contract risk. The code is verified and tested, but bugs are always possible and the contracts cannot be upgraded to fix one.
• Fund risk. USYC holds short duration US Treasury bills and repo. Its value can fall, and its redemptions can be limited.
• Sponsor risk. The fixed rate is paid by Bankarc from its reserve, not earned in a market. If the reserve is not topped up, the rate stops and the share price stops rising. Your principal stays in the contract either way. Bankarc can change the rate, up to a hard cap of 20%.
• Credit risk. Receivables can default. Junior capital absorbs losses first, but past that point savers' principal is written down.
• Liquidity risk. Large withdrawals can wait in the queue until a sleeve is unwound. Receivables take 30 to 90 days to come back.
• Stablecoin risk. Everything is denominated in USDC.
• Access risk. The USYC sleeve depends on Circle enabling the adapter. Compliance decisions can suspend an account.
• Regulatory risk. Rules for tokenised funds are still changing, and may change what Bankarc can offer.