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

# General FAQ

> Frequently asked questions about Tori Finance

## About Tori Finance

### What is Tori Finance?

Tori Finance is a yield protocol that brings institutional-grade, market-neutral yield strategies on-chain.

For decades, these strategies have been accessible only to accredited investors with million-dollar minimums. Institutional trading desks and money market participants have relied on them. **Tori changes that**, making them available to anyone, anywhere, with any amount.

### What problem does Tori solve?

The stablecoin market exceeds \$300 billion, yet most holders earn nothing on their assets. Existing yield options force difficult tradeoffs:

| Option                    | Limitation                                                  |
| ------------------------- | ----------------------------------------------------------- |
| **T-bill wrappers**       | Returns capped at risk-free rates                           |
| **Basis trade protocols** | High crypto market and counterparty risk with subpar yields |
| **Credit protocols**      | Carry default risk, illiquid strategies                     |

Tori offers liquid market-neutral strategies that aim to generate yield uncorrelated with market direction.

***

## Core Products

### What are trUSD and strUSD?

<CardGroup cols={2}>
  <Card title="trUSD" icon="https://mintcdn.com/tori-a4f37b86/3H8dnTWjceeNc9vd/logo/trusd.svg?fit=max&auto=format&n=3H8dnTWjceeNc9vd&q=85&s=3c72b11855ed4df895cb78d07080fd17" width="1024" height="1024" data-path="logo/trusd.svg">
    **The base synthetic dollar**

    Fully backed and audited. Designed to track the value of USD.
  </Card>

  <Card title="strUSD" icon="https://mintcdn.com/tori-a4f37b86/3H8dnTWjceeNc9vd/logo/strusd.svg?fit=max&auto=format&n=3H8dnTWjceeNc9vd&q=85&s=eea2c32da73c1b108f46e9f5de3f0ed3" width="1024" height="1024" data-path="logo/strusd.svg">
    **The yield-bearing token**

    Stake trUSD to receive strUSD, which accumulates yield over time.
  </Card>
</CardGroup>

| Token      | What It Is            | Key Feature             |
| ---------- | --------------------- | ----------------------- |
| **trUSD**  | Base synthetic dollar | Swap freely, anytime    |
| **strUSD** | Yield-bearing version | Automatic yield accrual |

<Note>
  trUSD is a synthetic dollar backed by trading positions, different from fiat-backed stablecoins like USDC or USDT. See [Risk Disclosures](/resources/risks).
</Note>

### What's the difference between trUSD and USDC/USDT?

| Aspect      | trUSD                    | USDC/USDT                |
| ----------- | ------------------------ | ------------------------ |
| **Type**    | Synthetic dollar         | Fiat-backed stablecoin   |
| **Backing** | Hedged trading positions | Dollars in bank accounts |
| **Yield**   | Stake for strUSD to earn | No native yield          |
| **Issuer**  | Tori Finance             | Circle/Tether            |

### Why would I use trUSD instead of USDC?

If you want to earn yield on your dollar exposure. USDC gives you stability but no returns. trUSD lets you stake for strUSD to access institutional-grade yield strategies while still maintaining dollar-denominated value.

***

## Getting Started

### How do I get started?

<Steps>
  <Step title="Connect Your Wallet">
    Go to [app.tori.finance](https://app.tori.finance) and connect any Ethereum-compatible wallet
  </Step>

  <Step title="Swap for trUSD">
    Swap USDC or USDT for trUSD
  </Step>

  <Step title="Stake for strUSD">
    Stake trUSD to receive strUSD and start earning yield immediately
  </Step>
</Steps>

See our [Quickstart Guide](/quickstart) for detailed instructions with screenshots.

### Is there a minimum amount?

**No minimum.** Start with any amount you're comfortable with.

### What wallets are supported?

Any Ethereum-compatible wallet works, including but not limited to:

<CardGroup cols={4}>
  <Card title="MetaMask" icon="wallet" />

  <Card title="Rabby" icon="wallet" />

  <Card title="Coinbase Wallet" icon="wallet" />

  <Card title="Rainbow" icon="wallet" />
</CardGroup>

### What chains are supported?

**Ethereum mainnet** is our primary chain at launch. Multi-chain support for trUSD and strUSD is planned through **Chainlink CCIP** using the Cross-Chain Token (CCT) standard.

| Chain                | Status                   |
| -------------------- | ------------------------ |
| **Ethereum Mainnet** | Primary chain            |
| **Other EVM chains** | Expansion planned        |
| **Non-EVM chains**   | Potential future support |

This means you'll be able to bridge trUSD and strUSD across supported chains as they become available.

***

## Cores and Referral

### What are Cores?

Points you earn for contributing to the protocol. See the [Cores page](/resources/cores) for the full breakdown.

### How do I earn Cores?

Hold trUSD, stake strUSD, or participate in DeFi integrations. You earn 30 Cores per dollar per day during the pre-deposit phase.

### What is the pre-deposit boost?

A 2x Cores boost during the pre-deposit phase. It is the highest boost there will be. See the [Pre-Deposit Vault](/resources/pre-deposit) for details.

### What is the referral program?

Refer a friend and earn 10% of the Cores they earn. They keep all of theirs, and your bonus is paid on top. See the [Referral Program](/resources/referral).

### What will Cores be used for?

As the protocol evolves, Cores will translate into a stake in the future of Tori.

***

## Yield & Returns

### How is yield generated?

Yield comes from market-neutral trading strategies that institutional traders have used for decades:

<AccordionGroup>
  <Accordion title="Money Markets" icon="landmark" defaultOpen>
    **What it is:** Short-duration instruments in select markets. This is typically our largest allocation.

    Access to institutional money market rates.
  </Accordion>

  <Accordion title="Futures Arbitrage" icon="chart-line">
    **What it is:** Capturing price differences between spot and futures markets.

    When futures trade at a premium to spot, the spread can be captured as yield through offsetting positions.
  </Accordion>

  <Accordion title="Calendar Spreads" icon="calendar">
    **What it is:** Trading mispricing between different contract expiry dates.

    Markets sometimes misprice the relationship between near-term and far-term contracts.
  </Accordion>
</AccordionGroup>

We may add additional strategies over time as new opportunities emerge. All strategies aim to generate returns **uncorrelated with market direction**.

### What returns can I expect?

Yields are **variable** and depend on market conditions. Current rates are displayed in the app.

| Factor            | Impact on Yields                                 |
| ----------------- | ------------------------------------------------ |
| Market volatility | Higher volatility often means more opportunities |
| Trading volumes   | More activity can create more opportunities      |
| Competition       | More arbitrageurs can compress returns           |
| Interest rates    | Affects funding rate opportunities               |

<Note>
  Yields vary based on market conditions. Past performance does not guarantee future results. Check the app for current rates.
</Note>

### Are returns guaranteed?

**No.** Returns are never guaranteed. Yields vary based on market conditions and opportunities available.

### Can there be temporary drawdowns?

Yes. Delta-neutral strategies may experience temporary fluctuations before positions converge. This is expected behavior. The strategies are designed so that offsetting positions eventually resolve. These temporary drawdowns are not permanent losses.

### Can yields go negative?

Yields could be lower in periods when market opportunities are scarce. Our diversification across multiple strategies aims to smooth out performance, but there are no guarantees.

***

## Fees

### What are the fees?

| Fee             | Amount       | When                      | Notes                          |
| --------------- | ------------ | ------------------------- | ------------------------------ |
| **Swapping**    | Market rates | Swapping to/from trUSD    | Standard DEX fees              |
| **Staking**     | None         | Staking trUSD for strUSD  | Free                           |
| **Unstaking**   | None         | Unstaking strUSD          | Free                           |
| **Performance** | 10% of yield | On generated yield only   | Never charged on staked tokens |
| **Mint/Redeem** | 0.1% (10bps) | For verified participants | Covers position costs          |
| **Gas**         | Variable     | All transactions          | Standard Ethereum fees         |

### How does the performance fee work?

A 10% performance fee is taken **only from generated yield**, never from the tokens you stake.

**Example:**

* Your position generates 100 trUSD in yield
* 10 trUSD goes to the protocol (10%)
* 90 trUSD accrues to your strUSD

The fee is automatically factored into the strUSD exchange rate. No separate payment needed.

### Are there hidden fees?

No. All fees are transparent and listed above. Gas fees are standard Ethereum network fees, not charged by Tori.

***

## Availability

### Who can use Tori?

Tori is available globally. However, you are responsible for ensuring your use complies with laws in your jurisdiction.

### Are there any restrictions?

Users must comply with applicable laws in their jurisdiction. Certain regions may be restricted. See our [Terms of Service](https://tori.finance/terms) for details.

### Do I need to verify my identity?

| Action                | Verification Required  |
| --------------------- | ---------------------- |
| **Swapping**          | No                     |
| **Staking/Unstaking** | No                     |
| **Mint/Redeem**       | Yes - KYC/AML required |

Most users only need to swap and stake, which requires no verification.

For large-scale minting and redemption at NAV, verification is required. See [Minting & Redemption](/resources/institutional).

***

## Security

### How is security handled?

<CardGroup cols={3}>
  <Card title="Sherlock and Nethermind" icon="shield-check">
    **Smart Contract Audits**

    Independent audits by two leading security firms
  </Card>

  <Card title="Hypernative" icon="radar">
    **24/7 Monitoring**

    AI-powered threat detection
  </Card>

  <Card title="Accountable" icon="check-double">
    **Proof of Reserves**

    Real-time independent attestations
  </Card>
</CardGroup>

See [Security Overview](/security/overview) for complete details.

### Is trUSD/strUSD insured?

**No.** trUSD and strUSD are not insured by any government agency (like FDIC) or private insurance. This is standard for DeFi tokens. Only use amounts appropriate to your risk tolerance.

Protocol cover for the Tori pre-deposit vault is available separately through [Nexus Mutual](https://app.nexusmutual.io/cover/product/446), covering smart contract and oracle risk.

### Can I verify the backing myself?

Yes! Multiple ways:

1. **Proof of Reserves** - Real-time attestations from Accountable
2. **On-chain data** - Verify smart contract balances on Etherscan
3. **Token supply** - Check total supply vs backing

***

## Contact

| Purpose             | Contact                                                       |
| ------------------- | ------------------------------------------------------------- |
| **Partnerships**    | [partnerships@tori.finance](mailto:partnerships@tori.finance) |
| **Security issues** | [security@tori.finance](mailto:security@tori.finance)         |

***

## Learn More

<CardGroup cols={2}>
  <Card title="Quickstart Guide" icon="rocket" href="/quickstart">
    Step-by-step instructions to get started
  </Card>

  <Card title="How Yield Works" icon="brain" href="/strategy/overview">
    Deep dive into our trading strategies
  </Card>

  <Card title="Security" icon="shield" href="/security/overview">
    Our comprehensive security approach
  </Card>

  <Card title="Risk Disclosures" icon="triangle-exclamation" href="/resources/risks">
    Understand what's involved
  </Card>
</CardGroup>