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General & Product Overview

L2Pass Liquid Yield is a non-custodial yield product that enables users to earn yield on stablecoin liquidity without lockups or withdrawal cooldowns.Users deposit USDT on TRON, and the protocol programmatically routes liquidity through on-chain yield strategies while preserving full withdrawal flexibility.
Currently, L2Pass Liquid Yield supports deposits in USDT (TRC20) on the TRON network.Support for additional assets and networks may be introduced in future versions.
No. L2Pass Liquid Yield is non-custodial. User funds are managed by smart contracts, and ownership is enforced through on-chain accounting and Position NFTs.
After depositing, you receive a L2Pass Position NFT that represents your yield position.The NFT tracks your deposited principal, accrued rewards, and withdrawal eligibility.
Position NFTs are non-transferable NFTs minted once per user and used exclusively for internal accounting.The NFT’s properties update automatically as the position state changes and are not intended to be traded or transferred.
You can view your active positions, accrued rewards, claimable rewards, and withdrawal history directly in the L2Pass interface.
Yes. Transactions on the TRON network require sufficient TRX or Energy.Users may optionally rent Energy via third-party services to reduce transaction costs.

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Yield, Rewards & Economics

Yield is generated from lending USDD on JustLend, combined with weekly incentive distributions from L2Pass and/or JustLend.Yield is variable and depends on market conditions and incentive programs.
No. Yield is not guaranteed and may fluctuate over time depending on utilization, demand, and incentive availability.
Rewards accrue continuously but become claimable on a weekly basis once each reward epoch is finalized.
Rewards are paid in USDT.
No. Claiming rewards does not affect your deposited principal.
Yes. Rewards accrued for completed reward epochs remain claimable even after you withdraw part or all of your principal.
There are no deposit fees and no withdrawal fees, excluding the PSM conversion spread.No protocol performance fees are applied in the current version. A performance fee applied only to yield may be introduced in future versions via protocol parameters.

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Deposits, Withdrawals & Positions

Yes. You can withdraw your funds partially or fully at any time.
No. There are no lockups or withdrawal cooldowns.
No. Position NFTs are non-transferable and remain bound to the original depositor’s wallet.This design simplifies accounting, preserves clear ownership, and reduces protocol-level risk.
No. The protocol does not support borrowing or leverage, and there are no liquidation mechanics.

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Risks, Assets & Governance

Key risks include smart contract risk, external protocol risk (JustLend, USDD PSM), stablecoin risk (USDT, USDD), and yield variability.Users are encouraged to review the full Risks section before depositing.
USDD is a decentralized stablecoin issued on the TRON network and designed to maintain a value close to the US dollar.Within L2Pass Liquid Yield, USDD is used as the underlying yield-bearing asset routed through external lending markets.For more details, refer to the official USDD documentation:
https://docs.usdd.io/
No. Deposits are not insured, and there is no guarantee of recovery in the event of protocol or external failures.
Before TGE, protocol parameters may be adjusted by the L2Pass team.After TGE, changes are expected to be governed through the protocol’s governance framework.

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