Deposit USDC & Mint USDfr
Eligible KYC-verified users can deposit canonical Ethereum USDC through the primary market to mint USDfr at the stated 1:1 rate, subject to contract rules.
Deposit USDC, Mint USDfr & Stake for sUSDfr
Live against the deployed Ethereum mainnet contracts. Every write simulates before you sign, reverts decode to plain language, and the KYC gate is enforced on-chain at the primary market only. Non-verified addresses can hold, view, transfer, and stake freely, but cannot mint or instant-redeem.
No wallet connected. Everything below is still readable.
- Reads are public: supply, backing, the vault rate, the queue and the book all render without a wallet.
- Connect on Ethereum mainnet to buy USDfr, stake, request a redemption, or claim one. None of these requires KYC.
- Minting and instant redemption are KYC-gated on-chain at the primary market; the contracts enforce that, not this interface.
Projected position income
Connect a wallet holding sUSDfr to see your projected share of the book's annual interest, in USDfr per year.
Your pro-rata share of the current performing book's contractual annual interest after the Waterfall interest fee but before the global-HWM performance fee and time-based management fee. It changes with your position, repayments, delinquencies, defaults, recoveries, and the composition of the book; it is indicative, not guaranteed.
Short history: only 21 days observed, so historical income covers only a limited window.
Historical income
0 USDfr
after interest fee; before vault fees
History observed
21 days
income measurement window
Yield recognition
Immediate
no vesting window set
Your sUSDfr position
Connect a wallet to see sUSDfr held, current USDfr value, indicative annual income, and gain on the wallet's directly deposited position.
Get USDfr
Swap USDC for USDfr through the USDfr/USDC Uniswap pool without leaving this page. Open to any address, KYC-verified or not.
Balance: wallet not connected
USDC
%
The swap reverts if the pool would pay less than the minimum received. 0.05% to 3%.
If a new Permit2 signature is not applied, this buy may instead use another allowance you granted to Uniswap's router. Any remainder can stay available until that allowance expires. This swap cannot spend more than the USDC amount above.
Third-party pool: Uniswap's USDfr/USDC market is not Forest Road's, and its price is set by the market. View the pool on Uniswap
Deposit USDC, mint USDfr 1:1. KYC-verified addresses only.
Not KYC-verified? Any address can , then stake it.
Balance: wallet not connected
USDC
Mainnet uses canonical Ethereum USDC. There is no faucet or alternate reserve asset.
Stake
USDfr → sUSDfr
Stake into the sUSDfr vault at the current exchange rate. Yield is the book's actual performance. Variable, never fixed. The displayed rate and share quote simulate all fees due at this block.
Balance: wallet not connected Rate: 1 sUSDfr = 1.0194 USDfr
USDfr
Exits are not instant: unstaking goes through the epoch-based redemption queue (see Redeem). The vault charges 10.00% on profit above one global high-water mark (capped at 20.00%). Management is currently 0.00% annual (capped at 2.00%).
Redeem
Redeem USDfr for USDC 1:1 against idle reserves. Instant redemption is available only to eligible KYC-verified addresses and depends on liquidity. Amounts are floored to whole USDC units.
Balance: wallet not connected
USDfr
Primary market redemption depends on on-chain verification and available idle reserves. Check wallet prompts and contract terms before confirming.
Unstake through the non-cancellable redemption queue. A request first completes its minimum hold, then fills FIFO as liquidity allows. Actual settlement can take longer.
Minimum hold before eligibility: 21d 0h
Settlement heartbeat: open, eligible requests settle as their hold ends
The heartbeat is not your exit date. FIFO order and available liquidity may extend the wait after your cooldown completes.
Balance: wallet not connected
sUSDfr
Your queue positions
Connect a wallet to load redemption queue positions.
FOREST ROAD VAULT · ETHEREUM MAINNET
Forest Road Vault: Deposit USDC, Stake USDfr & Receive sUSDfr
Use Forest Road's USDfr and sUSDfr interface to buy or mint USDfr, stake into the sUSDfr vault and review the appropriate redemption route. Primary-market minting and redemption require KYC; market purchases and staking follow their own eligibility rules.
Buy USDfr with USDC
The separate Buy tab describes swapping USDC for USDfr through a Uniswap pool. Market prices can differ from 1:1 and swaps may include slippage.
Stake USDfr for sUSDfr
Deposit eligible USDfr into the staking vault to receive sUSDfr shares. The share-to-USDfr exchange rate changes with underlying book performance and fees.
sUSDfr Vault Yield
sUSDfr is a vault share, not a fixed-interest promise. Projected annual income is indicative and depends on loans, repayments, fees and credit outcomes.
Redeem USDfr to USDC
Primary-market direct redemption uses eligible idle reserves and KYC verification; it is distinct from exiting an sUSDfr vault position through the withdrawal queue.
Unstake sUSDfr & Redemption Queue
sUSDfr redemption requests are non-cancellable and use a minimum 21-day hold. Eligible requests are processed in FIFO order when liquidity allows, so settlement may take longer.
Forest Road Deposit, Stake & Redemption FAQ
How can I deposit USDC and mint USDfr?
Select Mint 1:1 under Get USDfr. Eligible KYC-verified addresses can use canonical USDC on Ethereum to mint USDfr, subject to contract verification and wallet confirmation.
Can I buy USDfr without KYC?
The Buy tab describes a secondary-market USDC/USDfr Uniswap swap that is accessible to addresses regardless of primary-market KYC status. Prices depend on the pool.
How do I stake USDfr for sUSDfr?
Use the Stake panel to deposit eligible USDfr and receive sUSDfr vault shares at the prevailing exchange rate. Review the live transaction quote before signing.
Is Forest Road sUSDfr yield fixed?
No. Returns are variable and reflect the underlying credit book's realised performance after applicable fees, defaults, recoveries and other vault effects.
What is the difference between USDfr and sUSDfr?
USDfr is the underlying token used for deposits and primary-market redemption. sUSDfr represents a stake in the vault, with share value measured against USDfr.
How long does sUSDfr unstaking take?
The sUSDfr queue has a minimum 21-day hold. Requests then settle in FIFO order when sufficient liquidity is available; there is no guaranteed completion date.
Can I cancel an sUSDfr redemption request?
The interface describes the sUSDfr redemption queue as non-cancellable. Confirm the hold period, amount and risks before submitting a request.
How is USDfr redemption different from sUSDfr redemption?
USDfr can be redeemed directly against eligible idle USDC reserves through the KYC-gated primary market. sUSDfr exits use a separate queued withdrawal process.
Every action simulates against live chain state before your wallet opens; failures surface the contract's own error, decoded. Transactions use real assets on Ethereum mainnet; verify every wallet prompt carefully. Nothing here is legal, tax, or investment advice or an offer of securities.