Senior Royco USDC is designed to manage and deploy USDC capital exclusively into Senior tranches across Dawn markets.

Each Dawn market is splitted into a Junior and Senior tranche from the same underlying yield source, where Junior capital absorbs losses first (up to a defined coverage level), thereby providing capital protection to Senior capital.

The vault is dedicated solely to Senior tranche allocations, with a focus on capital preservation while delivering stable, risk-adjusted yield.

This is a Royco internal Machine, only accessible to Royco vaults.